Global Trade Imbalance

Introduction Balance of trade is referred as the distinction between monetary significance of imports and exports of output in an economy over a specific time. This is the correlation between exports and imports of a country. Global imbalances are the major contributors to the global crisis experienced today.Advertising We will write a custom research paper sample on Global Trade Imbalance specifically for you for only $16.05 $11/page Learn More Since economic crises have moved from financial markets to actual economies in nations all over the globe, governments have reasonably paid attention on short term measures to control the damage. Crafting financial bailouts and stimulus packages to deal with immediate issues has been for various reasons a main concern for policy makers. Legislators must move beyond such steps and deal with the root cause of the crisis which is the imbalances between investment and savings in major nations. These imbalances are ca used by some nations like the United States when they run huge current accounts deficits while other nations like China uphold huge surpluses (Yuechun 1). The global economic imbalances related to the trade deficit of the United States are largely seen as a crucial underlying factor behind the Great depression as well as economic crisis of 2008. For many years, global trade has grown significantly much faster compared to the total global production. The development of the technological possibilities of capital flows and trade and the reduction of laws on the transportation of products and capital between different nations have made economies more open simultaneously as the nations have become increasingly interdependent. In the last few decades, the world growth has shown some extensive and significant patterns. Recent developments in the global economic imbalance After the 2nd world war, the western nations showed a rapid growth. At the present, Asia and most especially China has b een the growth winner. In the 1960s, the per capita income of Africa and Asia was the same however, since then these two continents have showed a discrepancy where Africa has not grown while Asia has largely developed. The fast developing nations have a lot of cheap labor but few natural resources.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The effect of this has always been increased costs on natural resources and reduced prices on manufactured products. This change in price has profited the nations which import manufactured products and export natural resources. Globalization has also increased global macroeconomic imbalances. A majority of developed nations have increased their foreign or public debt whereas China has had large surpluses of current accounts. At the moment, many people would agree that the current trade imbalances are the main cause of the current global fin ancial crisis and the economic imbalances are not sustainable. These differences are clearly indicated in the financial and monetary policies and associated financial issues between developed and developing countries. These diversities are very crucial to international trade which is why global imbalance in trade has been growing gradually. Global trade imbalance has become one of the harshest issues facing the normal growth of the global economy. With the development of economic globalization, imbalance of the global economy has increasingly become outstanding (Yuechun 1). Global economic imbalances are marked by external imbalance among nations in the areas of trade account, gaps between the rich and the poor, the global investments, and internal imbalances in the facets of saving, consumption, and debt as a result of macroeconomic policies in various nations. Currently, the issue of global imbalances has become the issue of annual reports of the main global economic organizations and the major subject of the major international conferences which fueled extensive debates in the circles of academics. The global imbalances emerge as the deficit of trade and balance of payment of America. The main cause of the deficits in America is the large surplus that some nations like China hold which are the results of globally undervaluing and controlling currencies.Advertising We will write a custom research paper sample on Global Trade Imbalance specifically for you for only $16.05 $11/page Learn More Global economic imbalances concern the trade deficit of the United States which is equal to the trade surplus of the rest of the globe. At the center of the global economy are nations like Europe, North America, and emerging economies which concentrate on exports. Recently, the resource exporting nations have run aggregate trade surplus on the back of the higher commodity prices. In the North American region, the United States has run huge tr ade deficits with trade partners of NAFTA including Mexico and Canada. Monetary policies and exchange rates The global economic crisis affects both the regulation of financial institutions and the macroeconomic policies; particularly policies of exchange rates and monetary policies both at the global and national levels. The past few decades have been marked by partial low inflation and macroeconomic volatility in the developed countries (Gerlach 1). This forced various central banks in both developing and developed nations to concentrate on domestic targets of inflation and national short term interest rates therefore enabling other vital elements like exchange rate to be totally determined by the market forces. The current financial crisis and the undesirable position of various economies with huge deficits of current accounts have indicated that the present structure for exchange rate and monetary policies produce provisionally a lucrative opportunity for exploratory actions whic h have destabilizing impact. Such an experience calls for more and better global economic coordination to stay away from imbalances of current account and undesirable trade. Owing to the looming depreciation and the depreciation of the American dollar, the United States trade deficit is diminishing. Nevertheless, in a majority of nations there is no correlation of the rates of exchange and neither is an end to the sight of destabilization speculations.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More These speculations are still moving exchange rates in the wrong position in spite of increasing and large current account deficits experienced in various regions and nations. Managers of banks have been criticized for openly displaying uncontrolled lending and failure to pay attention to the risks facing their organizations. Policymakers are also sleeping on their jobs. Few decades ago, central bankers were praised for understanding inflation as well as the business cycle but this is no longer feted. The public would blame this on the global imbalances including the pattern of a huge and relentless deficit of current accounts in the United States (Gerlach 1). Bad incentives, careless controls, and inactive regulation all have done simple damage to the global economic system. However, economic imbalances were the major cause of the whole problem. A numerous number of academicians and regulators are convinced that global economic imbalance is the source of the present financial crisis . Savings and investments Economists had previously predicted that the United States would destabilize its economy through borrowing from other countries. Since 1992, the current account has been indicating a downward trend. In the year 2006, the United States needed to sell assets or borrow from other countries in order to pay for the continuous shortages. Deficits should not be harmful and most particularly if they fund profitable investment. Concerns came from economists and other citizens that the consumption increase of the United States would take the nation into deeper problems because other nations would be hesitant to lend to America. This would cause a sudden stoppage of financing and a fall in the value of the dollar. China recently has faced increased political challenges with the constant growth of its economy. From the beginning of 2004, external imbalances have increased geographically and there has been a significant change in the rates of investment and savings. How ever, the large pattern which developed after 1996 is still in existence. The America’s current account deficit has further broadened in the last few years. The increase of the United States deficit basically shows an increase in the rates of investment from 19% in 2004 to 20% in 2006. The saving rate of America did not change in this period (Drysdale 1). In the meantime, $350 billion is the amount by which the total current account surplus of emerging market economies expanded and about all the economic expansion was accredited to an increased total saving rate. China is the main contributor of a large fraction of this increased development because it had an increased surplus of current account of approximately 3.6% $180 billion in 2004 which grew to in 2004 to 9.4% of GDP in 2006. This increase in the current account surplus of China is accredited to the increase in the rate of saving between these two years (Drysdale 1). Contributing to the high rates of saving is the fast growth rate in China causing a rapid growth of income whereas there is no readily available credit of customers. Another factor which contributes to the high rates of saving in China is the decision by the regulators to restrict the appreciation of the currency hence, limiting the demand of imports and increasing exports. Oil prices and Oil exporters The increase in the prices of oil has been followed by a large increase in the prices of a variety of other products. This collective increase in price has pushed the CPI up in various developing and developed nations. A part from their effect on the CPI, increase in oils prices also impacted the prices of other products for which oil is a vital intermediate element. This raises an alarm among those in charge of monetary policy and has promoted calls for thorough pre-emptive action by the central banks against the acceleration of the inflation. In emerging market nations, the growth of the total balance of current accounts has been con tributed by oil exporters. For the nations in the Middle East as well as the former Soviet Union the total balance of current account between 2004 and 2006 increased to about $150 billion (Gerlach 1). This increase is also wholly reflected by a growth in the rates of savings a huge fraction of the increased revenue which comes from increased oil prices since continues to be saved by exporters of oil (Gerlach 1). Contrary to the case in developing markets, the aggregate surplus of current account for developed nations apart from America has currently reduced from approximately $350 billion in 2004 to about $200 in 2006. A bigger part of this decline indicated a steep decline in balance of the euro-area. Therefore, contrary to the 1996-2004 periods except for America, industrial nations and developed nations have taken up a fraction of the increase in the total capital supply emerging from developing market economies. Aggregately, the current reduction in current account balances of i ndustrial economies other than the United States indicates a growth in rates of investments but rates of savings have largely remained the same. From the last few years the emerging markets have had an increase in the current account and saving surpluses. In the same period in the industrial nations current accounts have further plunged into deficits basically because of increased investment rates (Gerlach 1). The basic elements of the international saving glut still remain even though some elements have changed. The international markets are supplied financial capital by nations of the emerging market and producers of oil. The blends of the fund suppliers and the factors which motivate the supply have changed considerably. The larger share of aggregate surplus of developing nations is attributed to oil exporters and China. In the last few decades, the expansion of the total supply of saving of the region basically indicates a growth in the preferred saving by the emerging market na tions while the preceding growth in the total saving included some reduction in the preferred investments in East Asia following the 1990 financial crisis. Policies of exchange rate have also affected the preferred savings in Asia. Additional growth in total capital flow from developing nations other things being constant should have further discouraged real rates of interest globally. Although interest rates have increased currently, this does not mean that the global saving glut has been driven away. It implies that, the preferred total investment of preferred saving should have increased in the industrial nations enough to counteract any growth in the desired saving by emerging market nations. In the last few decades, the total demand for saving in the industrial nations has increased due to economic growth and this has somehow increased the international real rates of interest. The current instability in financial markets and the shareholders demand to have bigger compensation h as had an effect on the premiums due to the unsustainable low levels. Global imbalances have played a key role in the occurrence of the financial crisis by discouraging real rates of interest and supporting the search for yield. Central banks around the world were not the ones responsible for triggering this phenomenon but they accommodated it (Yuechun 1). Macroeconomic policy The monetary policy is not the best way of dealing with current global imbalances and the resulting capital flows and developments of asset price. Therefore, much significance should be attached to fiscal policy. Even if global cooperation is advantageous, it is not expected to attain so much every time there is a conflict with vital domestic policy matters. Nonetheless, the agreements reached at the G-20 summit in Pittsburg increase people’s expectations that cooperation can and will be improved. From 1996, the current account deficits of the United States rose steadily and peaked in 2005 reaching 1.65 % of world GDP and later contracting in 2006 to 2008. The deficits were predicted to further decline in 20009 through to 2010. Huge deficits were run by nations in Eastern Europe, Ireland, United Kingdom, Portugal, Spain, and Greece which are also current account deficit nations. Balancing these deficits were the huge surpluses operated by Japan, Germany, China, and a collection of emerging market nations from Asia. At the time of the financial crisis, the monetary policy was not strict enough and this was its main problem. It did not allow lowering of the interest rates before the existing recession is just a negligible mistake. Current account balance definitely show decisions of households and institutions to save and invest as well decisions of the government sector to finance existing spending through borrowing or taxation. Economic imbalances are therefore the consequence of choices of a big collection of economic agents at home and abroad because ignoring measurement matters, the current account deficit must be equal to zero. It is not advantageous to have the current accounts of all nations in equilibrium. Income expectations are very crucial because fast growth of the economy would cause deficits in the current accounts since the economy spends against future income. People therefore expect to experience deficits in many transition countries which they do, and surpluses in Japan and Germany which are developing gradually for structural situations such as aging populations and inexistence structural reform. China and several emerging countries from Asia are running huge surpluses. The reason for this is that due to the 1997-1998 financial crises in Asia which came after a huge price increase in assets which was characterized by a large increase in capital stock, investment obviously went down causing a huge imbalance between savings and investments and a surplus of the current account (NTNU 1). More of the facets which were in support of the shift were the necessity to restructure reserves of foreign exchange after the crisis, the aspiration of making sure that the situation does not reoccur by accumulating huge reserves of foreign exchange, the reluctance in various economies to experience the appreciation of real exchange rates due to the costs that would have on the income distribution, and unavailability of social safety nets which became apparent in the crisis and supported private saving. This indicates that imbalances of the current accounts have many causes and indicate a wide variety of past and present economic policies. Global cooperation (opening borders) The historic dedication of global leaders to develop the millennium development goals has restated the simple and plain fact that the important element to make the world a better place for living in is a global cooperation. The function of global trade in this view is very clear because it has always been an acknowledged suggestion that a non-discriminatory and easy multilateral trading system can lead to growth and development. A successful ending of the Doha Development Round of negotiations will greatly help global governments in attaining the millennium development goals. The recent developments in the global economy have led to a more cooperative trading setting for governments to make use of their comparative advantage. The global economy in 2004 recorded a total tremendous performance with the highest expansion of output in more than a decade. The World Bank stated that developing economies fully share in this expansion because they experienced their fastest growth in GDP in the past few decades. Growth of trade was strong with the share of the developing nations in the merchandise exports reaching 31% in a 50 year peak (Drysdale 1). The reasons for such a success include the increase in the prices of goods from robust international demand for raw materials and a strong expansion in the exports of manufactured products. Such reasons have greatly contributed to the enhancement of LCDs’ export performance and also explain the reason in 2004, all the major developing nations; particularly Asian economies had surpluses in both current accounts and trade. The emergence of China as one of the main traders of manufactured products in the world has had a positive impact on the global trade. In 2004, the share of China of the global exports was twice the same level a decade ago by 8%. In recent years, the role of China as the market for raw materials has sharply increased. In 2004, the share of China in the global fuels imports was approximately 4.5%. However, in 2004, the total performance of trade was blurred by the presence of huge imbalances in current accounts especially between East Asia and the United States. The economic imbalances broadened in 2005, a situation which poses various risks for the future expansion of the international economy and particularly for global trade. The current account deficit of the United States is equal to 7% of global trade products and a reduction or stabilization of this deficit through a slowdown of the imports of the United States could have a severe impact on the expectations of international trade expansion. 2004 is possibly a reflection of trade and economic development (NTNU 1). A majority of economic predictors forecast that international trade and expansion of output in developing and developed nations will be weaker in coming years compared to 2004. As a result of the strong 9% global trade growth in 2004, the secretariat of World Trade Organization forecasts growth of real trade to be 6.5% by 2010. The data that supports this forecast indicates a steeper slow down of trade in Asia and Eastern Europe. World Trade Organization members are eagerly waiting for the world economic situation to improve. The results of their negotiations are an essential input to the efforts of the global community to attain the millennium development goals. Global trad e can be a very effective and powerful driver for alleviating poverty and improving the well being of the economy. The effectiveness of global trade depends on a wide range of issues. It is very exciting to note that developed economies are not waiting for the completion of negotiations so as to improve the access of market opportunities for developing economies. In the year 2003 approximately two thirds of exports from developing nations entered the markets of developed countries duty free (NTNU 1). Also developed countries allowed about two thirds of exports from less developed nations to enter their markets duty free. In the last few years, these numbers have been gradually rising but in spite of such accomplishments there is a lot which can be done to further improve global trade. Various studies have indicated that the level of protection residue in the developed nations is discriminatory against products of export interest to less developed and developing economies. The suppor t offered by the governments of developed nations to their agricultural sector still limits access of markets for agricultural exports from developing nations. Governments in developing countries have been strict in their commitment to contribute towards developing an open and free system of trading. However, they realize that a lot of work needs to be done in order to open their markets particularly to merchandise originating from other developing nations. In developing countries, the average taxes are much more than those of developed nations. A reduction in such barriers to trade can stimulate global trade. The involvement of the multilateral and global trade system is not restricted to Millennium development goals and alleviation of poverty. Improved access of markets for all traded products with an efficient multilateral system based on rules may help the efforts to accomplish the MDGs related to the environment and health. Trade negotiation cannot define the success in accompl ishing the MDGs. The issue here is making trade work as a means for development which can only take place when openness is realized in a situation of logical economic policies. Successful negotiations which concentrate on conditions of accessing markets and committed support from the government in agriculture together with conditions of debt access and improved support will put national governments in a better position to accomplish the MDGs. Conclusion Due to the undesirable fluctuations in the market for real estate the growth of the United States was restricted. Even though the private consumption continued to grow, the market for housing developed slowly, investments were at a very low level, and the slow demand did not permit successful development of the industry. According to international monetary fund, an increase in the United States’ growth rates in 2007 is predicted to be 2.2% and the growth may continue to increase. The economy of China developed slowly at the st art of 2006 particularly because of unpredicted consumption deterioration but the growth was rapid in the second quarter of the year. Owing to the likelihood of a decline in exports and irregular private consumption, the economy of Japan was estimated to be at 2.3% in 2008. In 2006, the old EU members experienced a stable national demand and a growth in investments. Positive indicators were seen in the labor market evident in a low rate of unemployment. In addition, increased growth rates were indicated by the new EU member states. The exports have rather increased rapidly including the increasing demand from the old EU member states. Increases have also been indicated the rate of employment and in the national demand. The stated risks include a decline of external demand and downturn of financial conditions. Investors from overseas may be unwilling to invest in this global region in the future. According to the calculations of the IMF therefore, the growth in this region in 2007 wa s slightly slower compared to 2006 but come 2008 the growth decreased slightly. Since 2006, the section of common wealth of independent states has been growing successfully. The origin of the growth is basically exports encouraged by the increase in the prices of energy products as well as the steadily growing domestic demand. The status of current accounts of oil exporting nations has really gotten better. However, the current accounts of the other nations have gone down owing to the growing imports. Since the export demand and imports are decreasing these nations may experienced a decrease in growth in the future. Works Cited Drysdale, Peter. â€Å"Fixing global economic imbalances†. EastAsiaForum: Economics,  politics and public policy in East Asia and the pacific. (2011). Web. Gerlach, Stefan. â€Å"Future development of global imbalance†. University of Frankfurt:  Institute for monetary and financial stability. (2010). Web. NTNU Globalization Research Programm e. â€Å"Research focus area: Global economics flows, governance and stability†. Norwegian university of science and stability. Web. Yuechun, Jiang. â€Å"Imbalance of the world economy and challenges to the G2o†. China  institute of international studies. (2011). Web. This research paper on Global Trade Imbalance was written and submitted by user Natalia Brennan to help you with your own studies. 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The scientific method Essay Example

The scientific method Essay Example The scientific method Essay The scientific method Essay Laboratory Objectives After completing this lab topic, you should be able to: 1. Identify and characterize questions that can be answered through selecting investigation. 2. Define hypothesis and explain what characterizes a good selecting hypothesis. 3. Identify and describe the components of a scientific experiment. 4. Summarize and present results in tables and graphs. 5. Discuss results and critique experiments. 6. Design a scientific experiment. 7. Interpret and communicate results. Introduction Biology is the study of the phenomena of life, and biologists observe living systems ND organisms, ask questions, and propose explanations for those observations. Science assumes that biological systems are understandable and can be explained by fundamental rules or laws. Scientific Investigations share some common elements and procedures, which are referred to as the scientific method. Not all scientists follow these procedures in a strict fashion, but each of the elements is usually present. Science is a creative human endeavor that involves asking questions, making observations, developing explanatory hypotheses, and testing those hypotheses. Scientists closely scrutinize investigations in their field, and each scientist must present his or her work at scientific meetings or in professional publications, providing evidence from observations and experiments that supports the scientists explanations of biological phenomena. Read the following example and answer the questions that follow. Agricultural scientists were concerned about the effect of air pollution, sulfur dioxide in particular, on soybean production in fields adjacent to coal-powered power plants. Based on initial investigations, they proposed that sulfur dioxide in high concentrations would reduce reproduction in soybeans. They designed an experiment to test this hypothesis (Figure 1). In this experiment, 48 soybean plants, Just beginning to produce flowers, were delved Into two groups, treatment and no treatment. The 24 treated plants were delved Into four groups of 6. One group of 6 treated plants was placed in a fumigation chamber and exposed to 0. 6 pimp (parts power plant. The experiment was repeated on the remaining three treated groups. The no-treatment plants were placed similarly in groups of 6 in a second fumigation hammer and simultaneously exposed to filtered air for 4 hours. Following the experiment, all plants were returned to the greenhouse. When the beans matured, the number of bean pods, the number of seeds per pod, and the weight of the pods were determined for each plant. Figure 1 . Experimental Design for soybean experiment. The experiment was repeated four times. Soybeans were fumigated for 4 hours. Determining the Variables Read the description of each category of variable; then identify the variable described in the preceding investigation. The variables in an experiment must be Leary defined and measurable. The investigator will identify and define dependent, independent, and controlled variables for a particular experiment. A) The Dependent Variable Within the experiment, one variable will be measured or counted or observed in response to the experimental conditions. This variable is the dependent variable. For the soybeans, several dependent variables are measured, all of which provide information about reproduction. What are the dependent variables? B) The Independent Variable The scientist will choose one variable, or experimental condition, to manipulate. This arable is considered the most important variable by which to test the investigators hypothesis and is called the independent variable. What was the independent variable? Can you suggest other variables that the investigator might have changed that would have had an effect on the dependent variables? He dependent variables, only one independent variable is usually chosen. Why is it important to have only one independent variable? Why is it acceptable to have more than one dependent variable? C) Controlled Variables Consider the variables that you identified as alternative independent variables. Although they are not part of the hypothesis being tested in this investigation, they would ha ve significant effects on the outcome of this experiment. These variables must, therefore, be kept constant during the course of the experiment. They are known as the controlled variables. The underlying assumption in experimental design is that the selected independent variable is the one affecting the dependent variable. This is only true if all other variables are controlled. What are the controlled variables in this experiment? What variables other than those you may have already listed can you now suggest? Choosing or Designing the Procedure The procedure is the stepwise method, or sequence of steps, to be performed for the experiment. It should be recorded in a laboratory notebook before initiating the experiment, and any exceptions or modifications should be noted during the experiment. The procedures may be designed from research published in scientific journals, through collaboration with colleagues in the lab or other institutions, or by means of ones own novel and creative ideas. The process of outlining the procedure includes determining control treatment(s), levels of treatments, and numbers of applications. The value set for the independent variable is called the level of treatment. For this experiment, the value was determined based on previous research and preliminary measurements of sulfur dioxide emissions. The scientists may select a range of concentrations from no sulfur dioxide to an extremely high concentration. The levels should be based on knowledge of the system and the biological significance of the treatment level. What was the level of treatment in the soybean experiment? B) Replication Scientific investigations are not valid if the conclusions drawn from them are based n one experiment with one or two individuals. Generally, the same procedure will be repeated several times (replication), providing consistent results. Notice that scientists do not expect exactly the same results inasmuch as individuals and their responses will vary. Results from replicated experiments are usually averaged and may be further analyzed using statistical tests. Describe replication in the soybean experiment. C) Control The experiment design includes a control in which the independent variable is held at an established level or is omitted. The control or control treatment serves as a encroach that allows the scientist to decide whether the predicted effect is really due to the independent variable. What was the control treatment in this experiment? What is the difference between the control and the controlled variables discussed previously? EXERCISE II: DESIGNING AN EXPERIMENT In this exercise, the entire class, working together, will practice investigating a question using what you have learned so far about the scientific process. Cardiovascular fitness can be determined by measuring a persons pulse rate and respiration rate before and after a given time of aerobic exercise. A person who is more fit may have a relatively slower pulse rate and a lower respiratory rate after exercise, and his or her pulse rate should return to normal more quickly than that of a person who is less fit. Your assignment is to investigate the effect of a well-defined, measurable, controllable independent variable on cardiovascular fitness. Specific questions can be asked about an independent variable related to the broad topic of cardiovascular fitness. For example, your question might be Does cigarette smoking have an effect on cardiovascular fitness? List the questions in the space revived. Choose the best question and propose a testable hypothesis. B) Hypothesis Record the hypothesis chosen by the class. The Experiment A test, called the step test, that is often used for assessing cardiovascular fitness (Sinusitis and Fine, 1987). Here are the basic elements of this test: 1. The subject steps up and down on a low platform, approximately 8 in. From the ground, for 3 minutes at a rate of 30 steps per minute. 2. The subjects pulse rate is measured before the test and immediately after the test. The subject should be sitting quietly when the pulse is counted. Use three fingers to find the pulse in the radial artery (the artery in the wrist, above the thumb). Count the number of beats per minute. (Count the beats for 30 seconds and multiply by 2. ) 3. Additionally, the pulse rate is measured at I-minute intervals after the test until the pulse rate returns to normal (recovery time). Count the pulse for 30 seconds, rest 30 seconds, count 30 seconds, and rest 30 seconds. Repeat this procedure until the pulse returns to normal. Record the number of minutes to return to the normal pulse rate. (Do not record the pulse rate. ) As a group, design an experiment and record the components below: Dependent variable(s): Controlled variables: Control: Level of treatment: Replication: Summarize the experimental designed by your class: Prediction Predict the results of the experiment based on your hypothesis (if/then). Following the procedures established by your investigative team, perform the experiment and record your results. Results Record total class results in a Table. Identify the treatment conditions at the top of the table. Presenting and Analyzing Results Once the data are collected, they must be organized and summarized so that the scientists can determine if the hypothesis has been supported or falsified. In this exercise, you will design tables and graphs; the latter are also called figures. Tables and figures have two primary functions. They are used (1) to help you analyze and interpret your results and (2) to enhance the clarity with which you present the work to a reader or viewer. Tables You have collected data from your experiment in the form of a list of numbers that may appear at first glance to have little meaning. Look at your data. How could you organize the data set to make it easier to interpret? You could average the data set or each treatment, but even averages can be rather uninformative. Could you use a summary table to convey the data (in this case, averages)? Table 2 is an example of a table using data averages of the number of seeds per pod and number of pods per plant as the dependent variables and exposure to sulfur dioxide as the independent variable. Note that the number of replicates and the units of measurement are provided in the table and table legend. Table 2. Effects of 4-Hour Exposure to 0. 6 pimp Sulfur Dioxide on Average Seed and Pod Production in Soybeans. Treatment Number Seeds per Pod Pods per Plant intro 243. 26 16 ASS 241. 96 13 Tables are used to present results that have a few too many data points. They are also useful for displaying several dependent variables. For example, average number of bean pods, average number of seeds per pod, and average weight of pods per plant for treated and untreated plants could all be presented in one table. All values of the same kind should read down the column, not across a row. Include only data that are important in presenting the results and for further discussion. Information and results that are not essential (for example: test-tube number, impel calculations, or data with no differences) should be omitted. The headings of each column should include units of measurement, if appropriate. Tables are numbered consecutively throughout a lab report or scientific paper. For example Table 4 would be the fourth table in your report. The title, which is located at the top of the table, should be clear and concise, with enough information to allow the table to be understandable apart from the text. Capitalize the first and important words in the title. Do not capitalize articles (a, an, the), short prepositions, and conjunctions. Refer to each table in the written text. Summarize the data and refer to the table; for example, The plants treated with sulfur dioxide produced an average of 1. 96 seeds per pod (Table 2). Do not write, See the results in Table 2. If you are using a database program, such as Excel, you should still sketch your table on paper before constructing it on the computer. Application 1. Using the data from your experiment, design a summary table to present the results for one of your dependent variables, pulse rate. Your table need not be the same size or design as the sample. In your table, provide units of the dependent arable (pulse rate). Tell the reader how many replications (if any) were used to calculate the averages. 2. Compose a title for your table. Refer to the guidelines in the previous section. Interpreting and Communicating Results The last component of a scientific investigation is to interpret the results and discuss their implications in light of the hypothesis and its supporting literature. The investigator studies the tables and graphs and determines if their hypothesis has been supported or falsified. If the hypothesis has been falsified, the investigator must suggest alternate hypotheses for testing. If the hypothesis has been supported, the investigator suggests additional experiments to strengthen the hypothesis, using the same or alternate methods. Scientists will thoroughly investigate a scientific question, testing hypotheses, collecting data, and analyzing results, until they are satisfied that they can explain the phenomenon of interest. The final phase off scientific investigation is the communication of the results to other scientists. Preliminary results may be presented within a laboratory research group and at scientific meetings where the findings can be discussed. Ultimately, the completed reject is presented in the form of a scientific paper that is reviewed by scientists within the field and published in a scientific Journal. The ideas, procedures, results, other scientists. Because of this, science is sometimes described as self-correcting, meaning that errors that may occur are usually discovered within the scientific community. Scientific communication, whether spoken or written, is essential to science. During this laboratory course, you often will be asked to present and interpret your results at the end of the laboratory period. Additionally, you will write components of a scientific paper for many lab topics.