Factors Influencing Medical Students in Career Choices

Factors Influencing Medical Students in Career Choices Study of Factors Influencing Medical Students in their Choice of Career Introduction What makes medicine such a sort-after field? Medicine today is a very highly regarded profession which is well compensated, provides excellent job security and has the opportunity to have a positive influence on the lives of many people1. Success in medicine requires hard work and application, both while learning and when entering practice2. However, it brings great rewards in terms of job satisfaction and the range of career opportunities within the profession3. Learning about and practicing medicine is also very pleasing, involving as it does a blend of human interactions and applied science2. The environment in which different types of medicine are practiced is rich and diverse and obviously continually changing, and doctors continue to learn throughout their working lives. That is why the students interested in medicine should have the capacity for, and interest in, a lifetime of learning about this fascinating subject. To get the most out of the course a student need to be a keen scientist, with a sound scientific understanding and determination and also an ability to cope up with the demands and pressures of early clinical training3. But are they actually aware of the high demands of this prestigious professional course Do they have a realistic understanding of what a career in medicine will involve? We often wonder, is it the genuine passion for the subject and the genuine interest to be of service to the mankind that make students do medicine or is it just their parents!!! This study gives us the opportunity to find out the factors that drove students to do medicine. If choosing the medical profession is not hard enough, medical students have an even bigger hurdle ahead of them, which is choosing their line of specialisation. Many factors affect the career choices of graduating medicalstudents. Influences such as strong mentors, formativeacademic and non-academic experiences, and career counselingcan all help aspiring physicians select their particular careers4.Similarly, market trends, self-perception of strengths and weaknesses,and anticipated lifestyle can also affect career choice5. It has often been questioned, is gender really an issue? Does money influence ones decisions? Or is it competition?! A large number of specialising fields and over 50 career options are available in medicine, assuring a medical graduate of finding a profession. But how many medical students are actually aware of these career options? As mentioned earlier, medical profession brings great rewards in terms of job satisfaction and a variety of career opportunities. However, like any job, there are parts of a doctors work that are frustrating, undesirable, and even repetitive or boring. Studies show that doctors work far more hours than the average U.S. professional and cope with large amounts of stress and pressure6. Managed care has made it more difficult for U.S doctors to practice as they see fit and limit the amount of time that they can spend with patients. In fact, for some doctors, the upsides of the profession arent worth the sacrifice and hassles of the modern health-care environment4. This has lead to doctors with long and potentially bright careers to hang up their stethoscopes and quit! But is this the case when it comes to medical students in India? What makes them leave medicine despite the fact that theres a shortage of doctors making a ratio of one doctor per 1,634 people in India which is considered to be extremely below the ideal standard of doctor-people ratio?7,8 Medical students attitude towards various clinical fields and post graduation has been a major focus of study in the U.S as well as in the United Kingdom, yet there have been very few studies and surveys done on the career choices of Indian medical students. Hence, little is known about career intentions or attitudes of medical students in India. This study aims to reporton the career intentions and attitudes of first and second year medical students. It gives us the opportunity to discover the factors that influence the medical students on their career choices. The study also shows how exposure to more clinically oriented medical professions will affect the choice of careers in medical students. Aims and Objectives The study aims to find out factors that influence the choice of career of medical students Objectives To find out the reasons for students to take up medicine as a course of further studies. To compare career intentions of 1st year medical students, early in their training, with 2nd year medical students of Kasturba Medical College, Mangalore, in relation to various socio-demographic correlates. To compare findings from the 2nd year batch with those from a similar survey conducted on the same batch last year. Methodology   We conducted a survey in the study setting of KMC Mangalore with the total study population of 393 MBBS students, which consisted of 216 1st year and 177 2nd year students. It was a cross sectional study which lasted from the dates of March 7th to March 14th, 2008. Data was collected through a pilot studied semi-structured questionnaire. The outline of the questionnaire was designed after referring to questionnaires used in similar studies like ours. Certain changes such as clearing any non-specific questions and adding more questions which seemed relevant to our study were made. Permission was obtained from the Associate Dean Dr. M.V. Prabhu and respective teachers. Then questionnaires were given out to consenting students. Collected data was tabulated and analyzed by using SPSS version 10 software. Results obtained were presented on tables and graphs wherever appropriate. Lastly the test of significance was carried out using χ2 test on tables in which we thought there would be significant values. Results The total study sample was 393 students, comprising of 216 1st year students and 177 2nd year students. The response rate among the 1st and 2nd year students was 98.18% and 100% respectively. Gender 1st Year (n=216) 2nd Year (n=177) Total (n=393) Male 94 (43.5%) 103 (58.2%) 197 (50.1%) Female 117 (54.2%) 71 (40.1%) 188 (47.8%) Table 2: Baseline Characteristics 1st Year (n=216) 2nd Year (n=177) Total (n=393) Schooling: Abroad 30 (13.9%) 43 (24.3%) 73 (18.6%) In India 170 (78.7%) 121 (68.4%) 291 (74%) Both 16 (7.4%) 9 (5.1%) 25 (6.4%) Before MBBS: School 121 (56%) 95 (50.7%) 216 (55%) Degree 5 (2.3%) 4 (2.25%) 9 (2.3%) Dropped 68 (31.5%) 50 (28.2%) 118 (30%) Others 19 (8.8%) 25 (14.1%) 44 (11.2%) Majority of the participants have done their schooling solely in India (74%). 55% of the respondents joined directly after school, whereas 30% dropped a year or 2 before joining college. 2.3% of the students had completed a degree prior to joining college. Both 1st year and 2nd year students chose the medical profession because they had a passion for the medical field. It seems that very few 2nd year students were forced by their parents (3.4%) as compared to the 1st year students (4.6%). On the other hand, there are very few students in the 1st year that chose medicine for job security (1.9%) unlike the 2nd year students who had a higher percentage of 15.3%. Job security parents insistence were the most unlikely reasons for 1st year 2nd year students respectively (Table 3). When asked about their future line of plan, had it not been MBBS, more than 100 students who responded in the OTHERS category specified that they would join ONLY MBBS. As expected, most students (37.2%) felt that they would join engineering had they not been in MBBS. This may possibly be due to the fact that Mathematics is a compulsory subject during pre-university college. Paramedical/Allied Health Sciences were the least sought-after fields which were chosen by the 1st 2nd year students respectively (Table 4). Interestingly, ALL 1st year students wanted to pursue a PG degree while 4% of the 2nd year students DID NOT want to go in for post graduation perhaps due to the exposure to clinical postings? Both 1st and the 2nd year students seemed widely interested in doing an MD/MS (91.7% 86.4% respectively), with the next popular choice being MRCP/MRCS with only 7.4% 6.2% of 1st 2nd year students considering it . Even with the very little information they have, 86.6% of 1st year students wanted to go in for a clinical field 12.5% of the students could not decide about their choice of career, whereas 0.93% decided for a non-clinical field. Among the 2nd year students, 84.2% of the students decided for a clinical field, 7.9% having not decided yet 2.3% for a non-clinical field. This trend of more students opting for a clinical field may be due to the exposure to clinical postings during the 2nd year (Table 5). When asked about going in for super-specialization, 79.6% of 1st year students 64.4% of 2nd year students answered on the affirmative, 13.4% 25.4% answered against it while 6.9% 10.2% said they had not decided yet (Table 6). The general trend among 1st year students is to take up a career in surgery (40.7%) whereas for 2nd year students it is medicine (24.9%). The least sought after fields are Anaesthesiology for 1st year students ENT for 2nd year students (Table 7). Regarding non-clinical fields, Forensic Medicine is the most preferred non-clinical field among 1st years (5.1%) where as post-graduation research is more popular among 2nd years (2.8%) (Table 8). According to the data, there is no significant difference between male and female students choice of career with relation to choosing a clinical or a non-clinical field. 90.9% of the males 88.5% of the females taking the survey thought it would be a clinical field they would like to pursue (Table 9). When asked if there was a chance that the respondents would not be able to pursue the career of their choice, most students felt that Competition remained the major hurdle ahead of them. 27.3% of 1st year students 29.4% of 2nd year students felt that the stiff competition they face would stop them from going in for the career of their choice (Table 10). Majority of the 1st 2nd year students prefer to practice medicine in their own countries, rather than in a foreign country. This may possibly be due to the fact that most relatives kin are in their own country also, due to the possibility of an already functional medical set-up in the family. 33.3% of 1st year 26% of 2nd year students prefer to practice abroad, 5 of 2nd year students said they would leave medicine, but still stay in the country (Tables 11a 11b). It is seen that among all the respondents, 205 resident Indians, forming 52.16% of the students prefer to practice in their own country, whereas 25 of them (6.36%) preferred to practice abroad. 70 students (17.81% of students) said they had not decided yet depended on various factors. Among the Malaysians, 18 students (4.58%) prefer their own country, 1 student (0.25%) prefers practising abroad 8 students had not decided yet. 7 non-resident Indians (1.78%) wanted to practise in their own country, 6 students (1.52%) abroad 14 students (3.56%) had not decided yet (Table 12). Most students in 1st year (16.7%) 2nd year (7.3%) feel that if they were to go abroad, it would be due to better prospects available. A better financial reward was the next most popular reason for going abroad, with 10.6% of 1st year 6.8% of 2nd year students feeling so (Table 13). The current trend seems to be favoring multi-specialty hospitals over government hospitals. 50% of 1st year students 49.2% of 2nd year students preferred multi-specialty hospitals over other options. The next most sought work setting was Government Hospitals for 1st year students whereas it was private practice among 2nd year students (Table 14). For most students in both 1st year (4.6%) 2nd year (7.9%), hectic schedules seem to be the main reason for leaving medicine. Family obligations seem to affect the decisions of 1st year students (3.7%) more than that compared to 2nd year students (1.7%). It also seems as though 2nd year MBBS students are much more concerned with the competition in medicine (2.8%) than the 1st year students, perhaps due to more exposure to clinical fields (Table 15). Interestingly, exposure to clinically oriented medical profession has DECREASED the students interest to pursue further studies as well as choose a clinical field! Whereas 98% of 1st year students wanted to pursue a post-graduation course, only 94.4% of 2nd year students chose to go in for a post-graduation. Also, while 89.9% of 1st year students wanted to go in for a clinical field, only 84.2% of 2nd year students wanted to go in for a career in a clinically oriented field a very interesting find! (Table 16). There seem to be a dynamic shift in the career choice of the 2nd year MBBS students of the 2006 batch after clinical exposure. About a quarter of the students presently in 2nd year are inclined towards general medicine, compared to just 15.6% of the same students before clinical exposure. On the other hand, figures for a career in surgery have come down from 33.2% to 21.5% after clinics. Interest in pediatrics has also increased almost two-fold after clinical exposure (Table 17). Table 3:What drove students to choose medicine?  Ã‚   1st year 2nd year Total Passion for Medical Science 96 (44.4%) 91 (51.4%) 187 (47.6%) Inspired by Family Members 40 (18.5%) 37 (20.9%) 77 (19.6%) To help the Community 48 (22.2%) 25 (14.1%) 73 (18.6%) Forced by Parents 10 (4.6%) 6 (3.4%) 16 (4.1%) Job Security 4 (1.9%) 27 (15.3%) 31 (7.9%) Prestigious Profession 36 (16.7%) 30 (16.9%) 66 (16.8%) Others 8 (3.7%) 13 (7.3%) 21 (5.3%) Table 4:If not MBBS? 1st Year (n=216) 2nd Year (n=177) Total (n=393) Dental 19 (8.8%) 21 (11.9%) 40 (10.2%) Paramedical/Allied Health Sciences 11 (5.1%) 7 (4%) 18 (4.6%) Engineering 84 (38.9%) 62 (35%) 146 (37.2%) Others 95 (44%) 77 (43.6%) 172 (43.8%) Table 5: Post-graduation 1st year MBBS 2nd year MBBS Total Post-graduation Yes 214 (99.1%) 167 (94.4%) 381 (96.9%) No 0 (0%) 7 (4%) 7 (1.8%) p=0.0034,highly significant Choice of degree MD/MS 198 (91.7%) 153 (86.4%) 351 (89.3%) Diploma 1 (0.46%) 1 (0.56%) 2 (0.51%) DNB 1 (0.46%) 5 (2.8%) 6 (1.5%) MRCP/MRCS 16 (7.4%) 11 (6.2%) 27 (6.9%) χ2=3.935, p=0.268 Table 6: Future career intentions 1st Year (n=216) 2nd Year (n=177) Total (n=393) Clinical Field 187 (86.6%) 149 (84.2%) 336 (85.5%) Non- Clinical Field 2 (0 .93%) 4 (2.3%) 6 (1.5%) Not Decided 27 (12.5%) 14 (7.9%) 33 (8.4%) χ2=.456, p=0.499, not significant Super specialization Yes 172 (79.6%) 114 (64.4%) 286 (72.8%) No 29 (13.4%) 4 (25.4%) 74 (18.8%) Not Decided 15 (6.9%) 18 (10.2%) 33 (8.4%) χ2= 13.489, p=0.0012, highly significant Table 7:Preference for a profession in a CLINICAL Field: 1st year MBBS 2nd year MBBS Total Radiology 27 (12.5%)

A Qualitative Exploration of the Spatial Needs of Homeless Drug Users L

With homelessness levels rapidly increasing in the UK (Fitzpatrick et al., 2012), the necessity for a study analysing the spatial needs of homeless individuals who suffer from drug abuse and are housed in hostels/night shelters was paramount. The task of the critical appraisal is to firstly, summarise the research article A Qualitative Exploration of the Spatial Needs of Homeless Drug Users Living in Hostels and Night Shelters (2013), discuss the methodology presented throughout it and further examine if whether it was appropriate for the topic. Towards the end, the research findings will be discussed and an assessment of whether the article is beneficial for the housing sector or not, will be provided, along with any possible recommendations. The subject matter of the aforementioned journal article is an exploration of a sub-category of homeless individuals, namely drug users homeless. The correlation between homelessness and drug abuse and the vicious impact that each issues has on the other one, is sought throughout the article, reinforcing the need to tackle each one separately in order to reach an effective end result. After defining terms such as homelessness, drug use and night shelters, it continues to present a seven-fold categorisation of spatial needs that seem to not be met entirely by homeless accommodation providers. It argues that, according to Fitzpatrick and LaGory (2000), every individual requires a sense of privacy, safety, personal space and reasonable human interaction in order to maintain a healthy life and follows to provide definitions for the concepts of privacy and personal space. After presenting the layout of the article, it proceeds to discuss the methods applied for its research analysis and i ntrodu... ... Greg Guest, Emily E. Namey, Marilyn L. Mitchell (2013) Collecting Qualitative Data, A Field Manual for Applied Research, Sage Publications Given, L.M. (2008) The Sage Encyclopedia of Qualitative Research Methods. Sage Publications Markle, D. T., Richard E. West & Peter J. Rich, Markle, D. Thomas; West, Richard E. & Rich, Peter J. (2011). Beyond Transcription: Technology, Change, and Refinement of Method [49 paragraphs]. Forum Qualitative Sozialforschung / Forum: Qualitative Social Research, 12(3), Art. 21, Wholey, J.S., Hatry H.P., Newcomer K.E. (eds.) (2004) Handbook of Practical Program Evaluation , 2nd Edition. San Francisco: Jossey- Bass Patton, M.K (2002) Qualitative Research & Evaluation Methods, 3rd Edition. Sage Publications . Maslow, A. H., A theory of human motivation Psychological Review, 50(4), Jul 1943, pp. 370-396. doi: 10.1037/h0054346

Mohandas Gandhi`s life and Accomplishments :: essays research papers

Mohandas Gandhi Leo Peters Section 567-01 Mid-Term Paper This Essay will be about the life and accomplishments of Mohandas Karamchand Gandhi. And will also discuss Civil Disobedience. Throughout history most national heroes have been warriors, but Gandhi ended British rule over his native India without striking a single blow. A frail man, he devoted his life to peace and brotherhood in order to achieve social and political progress. Yet less than six months after his nonviolent resistance to British rule won independence for India, he was assassinated by a religious fanatic. Gandhi was one of the gentlest of men, a devout and almost mystical Hindu, but he had an iron core of determination. Nothing could change his convictions. This combination of traits made him the leader of India's nationalist movement. Some observers called him a master politician. Others believed him a saint. To millions of Hindus he was their beloved Mahatma, meaning "great soul." Mohandas Karamchand Gandhi was born on Oct. 2, 1869, in Porbandar, near Bombay. His family belonged to the Hindu merchant caste Vaisya. His father had been prime minister of several small native states. Gandhi was married when he was only 13 years old. When he was 19 he defied custom by going abroad to study. He studied law at University College in London. Fellow students snubbed him because he was an Indian. In his lonely hours he studied philosophy. In his reading he discovered the principle of nonviolence as enunciated in Henry David Thoreau's "Civil Disobedience," and he was persuaded by John Ruskin's plea to give up industrialism for farm life and traditional handicrafts--ideals similar to many Hindu religious ideas. In 1891 Gandhi returned to India. Unsuccessful in Bombay, he went to South Africa in 1893. At Natal he was the first so-called "colored" lawyer admitted to the supreme court. He then built a large practice. His interest soon turned to the problem of fellow Indians who had come to South Africa as laborers. He had seen how they were treated as inferiors in India, in England, and then in South Africa. In 1894 he founded the Natal Indian Congress to agitate for Indian rights. Yet he remained loyal to the British Empire. In 1899, during the Boer War, he raised an ambulance corps and served the South African government. In 1906 he gave aid against the Zulu revolt. Later in 1906, however, Gandhi began his peaceful revolution. He declared he would go to jail or even die before obeying an anti-Asian law. Thousands of Indians joined him in this civil disobedience campaign. He was imprisoned twice. Yet in World War I he again organized an ambulance corps for

The Nature of Terrorism :: Terrorism

Given the growing global threats of terrorism, it is significant that an understanding of the history, nature and mechanism-premises under which terror operates is obtained. This is significant as it would shape the perspective of policy makers when addressing issues of this nature. Terrorism, as it is understood is the action of none-state weak actors, individual or groups, who for some reasons feels suppressed, marginalized and, or denied what they may view as the basic human right. All terrorism has political objectives, even though the perpetrators may use religious relics to appeal to a wider existing audience, and invoke a response through violent act to prove or propagate their point. Yoram Schweitzer in "Suicide Terrorism Development & Characteristics," Mark Sedgwick in "Al-Qaeda and the "Nature of Religious Terrorism," and Dr. James Armstrong, all demonstrates that suicide terror attacks are politically motivated even though the perpetrator may use religious symbolism to jus tifies their acts. Observing areas in the world where terrorism is frequent, especially in the Middle East, it can be argued that groups that engaged in terrorists' activities are those that feel suppressed and taken advantage of by a much greater power. Thus, terrorism, particularly suicide terror is prevalent in areas where systems of gross injustice seem to exist. Therefore, the actual use of terrorism by non-state actors is a tactic aimed at polarizing the population in their favor. By killing people in mass number, they are attempting to take away the view that only the state can legitimately kill – thus undermining the state authority. As Armstrong, Sedgwick and Schweitzer exemplify, suicide terrorism is not a new happening, but an old historical phenomenon. And that just as modern day terror organizations, particularly Al-Qaeda, uses religious concepts to motivate its actions (though their immediate goal is political), various old terrorist groups have used similar approached to achieve t heir political end. To understand the history of suicide terrorism and how terrorist groups in the past have used religious tone to propagate their political course, Armstrong pointed out the Zealots-an extremist Jewish sect that opposed Jesus. The Zealots engaged in political assassinations of their political foe, knowing that they would be killed in the process. Even though their ultimate goal might have been religious, the Zealots immediate aim was political. In the same way, during the third century, the Assassins- a notorious terrorist wing (similar in nature to Al-Qaeda) in modern day Syria, assassinated many of their political opponents in order to establish their own form of Islam.

Gay, Lesbian and Bisexual Issues - Same-sex Marriage, Two Moms or Two Dads :: Argumentative Persuasive Essays

Two Moms or Two Dads    Over the pas couple of decades American society has undergone some vast changes. The concept of the family has been greatly altered. No longer is such emphasis put on the "traditional" family. A majority of children are being raised in single parent households. Single parent adoption rights have been granted. Now an entirely new sort of family is being disputed. Should gays and lesbians be granted the right to adopt a child? Today's view of gays and lesbians is drastically differen t than it was in the past. As more people "come out of the closet" gays and lesbians are becoming more socially accepted. They currently are battling for equality in a variety of areas. In Hawaii gays and lesbians can be granted marriage righ ts, which was a huge victory until DOMA was passed. The Defense of Marriage Act, otherwise known as DOMA, was a bill proposed by conservative Congressmen and Senator Bob Dole. Dole says, "DOMA defines marriage as between one man and one woman for a ll fede ral purposes (taxes, Social Security, veterans' benefits, etc.) and says that states don't have to pay attention to the Constitution if they don't want to recognize same-sex marriages that are legal in any other state" (Winters 1). President Bill Clinton, who openly expresses his opposition to same-sex marriages, signed the bill making it a law. Gays and lesbians continue to fight. Recently the fights have been centered on adoption. This new dilemma has created quite a stir in society.    It is estimated that the number of children being raised by gay or lesbian parents is between 2 and 6 million. It is extremely hard to get an accurate estimation due to the fact that many gays and lesbias are not open about their family structure. These people do not want to be surveyed for fear of losing their children. In a population where roughly 10% or 25 million people are reported to be homosexual the numbers of those raising children are outstanding (Collum 1).    There are three main ways that gays and lesbians are raising children and acquiring families without the courts becoming involved. The first way, which is also the most common way, is when heterosexual marriages dissolve after one parent apparentl y "comes out. Gay, Lesbian and Bisexual Issues - Same-sex Marriage, Two Moms or Two Dads :: Argumentative Persuasive Essays Two Moms or Two Dads    Over the pas couple of decades American society has undergone some vast changes. The concept of the family has been greatly altered. No longer is such emphasis put on the "traditional" family. A majority of children are being raised in single parent households. Single parent adoption rights have been granted. Now an entirely new sort of family is being disputed. Should gays and lesbians be granted the right to adopt a child? Today's view of gays and lesbians is drastically differen t than it was in the past. As more people "come out of the closet" gays and lesbians are becoming more socially accepted. They currently are battling for equality in a variety of areas. In Hawaii gays and lesbians can be granted marriage righ ts, which was a huge victory until DOMA was passed. The Defense of Marriage Act, otherwise known as DOMA, was a bill proposed by conservative Congressmen and Senator Bob Dole. Dole says, "DOMA defines marriage as between one man and one woman for a ll fede ral purposes (taxes, Social Security, veterans' benefits, etc.) and says that states don't have to pay attention to the Constitution if they don't want to recognize same-sex marriages that are legal in any other state" (Winters 1). President Bill Clinton, who openly expresses his opposition to same-sex marriages, signed the bill making it a law. Gays and lesbians continue to fight. Recently the fights have been centered on adoption. This new dilemma has created quite a stir in society.    It is estimated that the number of children being raised by gay or lesbian parents is between 2 and 6 million. It is extremely hard to get an accurate estimation due to the fact that many gays and lesbias are not open about their family structure. These people do not want to be surveyed for fear of losing their children. In a population where roughly 10% or 25 million people are reported to be homosexual the numbers of those raising children are outstanding (Collum 1).    There are three main ways that gays and lesbians are raising children and acquiring families without the courts becoming involved. The first way, which is also the most common way, is when heterosexual marriages dissolve after one parent apparentl y "comes out.

Rbi’s Debt Management and Monetary Policy Essay

I have shown you in class, using the IS-LM model, how the above two roles of the RBI presents a conflict between the desired positions of the LM curve and therefore the equilibrium interest rate. Some of you have expressed interest in knowing more about this debate. Therefore here are the two opposing points of view. For the motion: On this side of the debate is the government which supports an independent Debt Management Office (DMO) that is separate from the RBI. The government has received support from the Report of the Internal Working Group on Debt Management which has pointed out three conflicts that arises from the present arrangement: â€Å"If the Central Bank tries to be an effective debt manager, it would lean towards selling bonds at high prices, i.e. keeping interest rates low. This leads to an inflationary bias in monetary policy.† Second â€Å"if the Central Bank tries to do a good job of discharging its responsibility of selling bonds, it has an incentive to mandate that banks hold a large amount of government paper.† Third, â€Å"if the Central Bank administers the operating systems for the government securities markets, as the RBI currently does, this creates another conflict, where the owner/ administrator of these systems is also a participant in the market.† The Percy Mistry Committee on Making Mumbai an International Financial Centre (IFC) recommended the setting up of an autonomous DMO by saying that â€Å"looking ahead, a sound public borrowing strategy for India would incorporate three elements. . . An independent Indian â€Å"debt management office† – operating either as an autonomous agency or under the Ministry of Finance – that regularly auctioned a large quantum of INR denominated bonds in an IFC in Mumbai. The size of these auctions would be substantial by world standards and would enhance Mumbai’s stature as an IFC.† The Raghuram Rajan committee on Financial Sector Reforms (A Hundred Small Steps) has argued against RBI providing the â€Å"investment banking† function to the government as â€Å"this involves a conflict of interest, since the government would benefit from lower interest rates, which the RBI has some control over. Investors in the bond market may also perceive the sale of bonds by RBI to be informed by a sense of how interest rates will evolve in the  future. Finally, the RBI is the regulator of banks. Banking supervision could be distorted by the desire to sell bonds at an attractive price.† Media commentators have also supported the motion. See for instance Ajay Shah writing in the Business Standard,Ila Patnaik writing in the Indian Express, Shruthi Jayaram writing in the Financial Express, S. Narayan writing in the Mint. Also see what the Stanford University’s Policy Brief and the Bank for International Settlements feel about this issue. Against the motion: Predictably the RBI is opposing the above views. See this Business Standard report which quotes RBI Governor Dr Subbarao as saying that â€Å"Only central banks have the requisite market pulse and instruments to aid in making contextual judgements which an independent debt agency, driven by narrow objectives, will not be able to do.† The Governor further said that in order to achieve monetary and financial stability, separation of debt management from central bank seems to be a â€Å"sub-optimal choice†. â€Å"The case for shifting debt management function out of the central bank is made on several arguments such as resolving conflict of interest, reducing the cost of debt, facilitating debt consolidation and increasing transparency. These advantages are overstated,† Dr Subbarao said. He said market borrowings are the major source of deficit financing at state level and such borrowings are exceeding the absorptive capacity of the market. â€Å"That makes it imperative to harmonise the market borrowing programmes of the Centre and the states. Separation of the Centre’s debt management from the central bank will make such harmonisation difficult,† Dr Subbarao added. He said even internationally, there is closer association between the central bank with sovereign debt management for proper monetary policy and financial stability. Also see this Business Line report which quotes Dr Subbrao as saying that â€Å"the learning from the recent global crisis is that those systems where central bank manages government debt are more effective. When fiscal deficit is as high as it is in India, it is not only about debt management in the conventional sense. It has larger implications for liquidity management and monetary policy transmission. The balance of advantage would lie in the RBI continuing to manage public debt until fiscal deficit comes down to very comfortable levels.† RBI’s internal research  supports the above view by demonstrating that interest rates have not been affected by the government’s borrowing programme (a point made by some of you in class). Some media commentators have also supported RBI’s view (see this article in the Economic Times). You will be amused to know that Dr Subbarao himself was an advocate of an independent DMO when he used to work for the government! The confusion over this issue was evidenced by the Rakesh Mohan Committee on India’s Financial Sector Assessment which opined in favour of an independent DMO with the chairman (an ex-deputy governor of the RBI) disagreeing with the committee’s view! Tailpiece: The RBI seems to have reconciled to the setting up of an independent DMO but is insisting that they be in charge of running the office (so much for independence)! See this report from the Financial Express. Finally you may enjoy reading this article from the Economic Times on â€Å"Chidambaram vs Subbarao: How conflicts between govt and RBI could lead to better policy-making†.

Compare and contrast the human condition as it relates to Muslims and Christians

The author of this paper will endeavor to compare and contrast the human condition as it relates to Muslims and Christians. The author will examine the teachings of these religions as it relates to the improvement of the human condition and will look at the public stance of both of these great religions. One of the five basic pillars of Islam is the Zakaat or spiritual tithing or almsgiving. In its simplest terms it is a command by Muslims to give 2.5% of their accumulated wealth on an annual basis to other Muslims. According to www.islam.tc there is much more to the Zakaat than the simple annual giving. According to this website the Zakaat is â€Å"the most important act of worship which has to be performed monetarily.† The website further lists the many benefits of giving Zakaat as follows: â€Å"It reminds Muslims of the fact that whatever wealth they may possess is due to the blessings of Allah and as such is to be spent according to His commands.† â€Å"Zakaat functions as a social security for all. Those who have enough money today pay for what they have. If they need money tomorrow they will get what is necessary to help them live decently.† â€Å"Zakaat payer pays his dues to Allah as an act of worship, a token of submission and an acknowledgement of gratitude. The receiver of Zakaat receives it as a grant from Allah out of His bounty, a favor for which he is thankful to Allah.† Thus the Muslim by accepting the 5 pillars agrees that he is to help support the less well off from him. As this is a command from Allah, the benefits of the Zakaat are then seen as blessings directly from Allah. Allah says in the Qur'an â€Å"The parable of those who spend their wealth in the way of Allah is that of a grain of corn. It grows seven ears and each ear has hundred grains. Allah increases manifold to whom he pleases.† (Qur'an 2:261) Further research indicates that the Hadith indicates the following benefits are derived from the Zakaat as follows: 1. Gain the pleasure of Allah 2. Increase in wealth and protection from losses 3. Allah's forgiveness and blessings 4. Protection from the wrath of Allah and from a bad death 5. A shelter on the Day of Judgment 6. Security from seventy misfortunes Benefit is sometimes looked upon as the avoidance of pain, and the Hadith certainly points out not only some benefits such as forgiveness and blessings, but additionally the avoidance of pain such as shelter on Judgment day and the security from seventy misfortunes. Allah also indicates punishment for not giving Zakaat as follows: â€Å"And there are those who hoard gold and silver and do not spend it in the way of Allah, announce to them a most grievous penalty (when) on the Day of Judgment heat will be produced out of that wealth in the fire of Hell. Then with it they will be branded on their forehead and their flanks and backs. (It will be said to them) This is the treasure which you hoarded for yourselves, taste then the treasure that you have been hoarding.† (Qur'an 9:34-35) Christians on the other hand are certainly not as public and seem to be by the author's experience somewhat bashful or ashamed to speak about money, tithing and almsgiving. From the author's own experience as a member of the Stewardship committee of his Church, we only speak of money three Sundays per year and only in the context that it is a member of the trilogy of time, talents, and treasures to be given for the glory of God. Further, Christians are of two minds as to the amount of money they should give. The old testament of the Bible in Leviticus 27:31 states the following: A tithe of everything from the land, whether grain from the soil or fruit from the trees, belongs to the Lord; it is holy to the Lord. The word â€Å"tithe† means one tenth. In the new testament of the Bible, Jesus teaches us in Luke 6:38 â€Å"Give, it will be given to you. A good measure, pressed down, shaken together and running over, will be poured into your lap.† Also in Luke, Jesus says in Luke 11:41 â€Å"But give what is inside the dish to the poor, and everything will be clean for you.† The passages from the old and new testaments seem to be mutually exclusive, but do indicate that giving must be done, but not how much. Muslims, it seems are definitely more clear on the amount of giving. Also different between the Christian and the Muslim is who are we giving to? The Zakaat clearly indicates that Muslims are giving to other Muslims as a command from Allah which then gives benefit to both the giver and the receiver. Christians on the other hand clearly give to the Church. The Christian Church according to their doctrines then gives to help support the Church and also humankind as a whole. Christians routinely support other belief systems through their outreach and missions. Look as an example of the enormous support for Muslims by Christians after the Tsunami. The author is a member of an ELCA Lutheran Church and as part of the mission of this Church; the congregation took a mission trip in part to support a Catholic Orphanage in Peru. Muslims routinely praise or do not disparage the terrorist Osama Bin Laden. Why is this so? The reason is that Osama routinely supports other Muslims through generous giving to Muslims. Since there has been no outward vocal opposition to this generosity by Muslims it must therefore be an accepted practice. The author cannot recall or through research find any Christian terrorist let alone one who is exalted because of his giving. Both great religions certainly promote giving. The Muslim Zakaat clearly supports other Muslims which may just be the single biggest reason for the explosive growth of the Islam faithful in the world. Muslims believe the Zakaat should support all things Muslim such as education and cite Muhammad's exhortations regarding education as follows: â€Å"If you educate a man, you educate an individual. If you educate a woman, you educate a nation.† Certainly the Zakaat helps support education amongst the Muslims which further adds to their burgeoning populations. Christianity on the other hand is more quiet and somewhat bashful in their attempts at Christian education amongst the world's non-Christian people which may account for the slower growth of Christianity. Certainly both religions are painfully aware of the decline in the overall human condition, but Muslims, because of their adherence to the Five Pillars are doing a better and more public job of showing humankind (not necessarily in the United States) the kind, peace-loving, nurturing side of their faith.