Systems modelling theory Essay Example | Topics and Well Written Essays - 1000 words

Systems modelling theory - Essay Example In this scenario, a system can be used to denote different entities such as software system or its different parts, hardware system, or it can be a combination of both and the relationships between these parts. Hence, a system model can be recognized as a skeletal model of the system. In addition, system modelling provides an excellent support throughout the development and maintenance large and complex systems by paying a great deal of attention to the system development phase. In this scenario, the basic thought is to capture unstable or complex elements of a design within different parts through appropriately designed interfaces showing how each part communicates with its surroundings. Later on, these separated parts are combined in order to develop a complete system (Kresken, 1996; Pidd, 2004, p. 14). It is an admitted fact that systems modelling theory is capable of improving systems’ performance and reliability and minimizing systems development expenses as it makes the system development process very simple. For instance, it allows us to make use of previously developed components and routines to develop new systems. It also allows us to make changes to systems according to changing requirements for instance platform changes and functional enhancement, and to completely understand systems. Hence, we can say that systems modelling theory allows us to deal with a wide variety of requirements as it offers a set of tools like that consistency checkers, helps with documentation of the system and even we can also use it in the design stage of system development. To cut a long story short, system modelling technique is utilized to make sure that a developing component of software develops in a constant way and that it simplifies the process of combining different software parts (Kresken, 1996; Pidd, 2004, p. 14). In addition, in order to model a system there is need of a system modelling language (this language can be either textual and/or diagrammatic) and a theoretical structure. In fact, at the present there are many tools available that support system development through systems modeling theory. The majority of these tools use textual notations such as prose or tables, diagrammatic notations like graphs. Additionally, these diagrams use different symbols to symbolize the components of the system for instance objects, entities, and groups of objects, and a wide variety of other symbols representing the relationships between these components. In the past few years, four major theoretical structures have emerged: (Kresken, 1996; Pidd, 2004, p. 14) 1. Design Methods Design methods are based on a set of three components a concept, a language, and a design process. In this scenario, the concept outlines the modules of a program that are to be symbolized by the parts of the system model. On the other hand, the language defines the system model. Additionally, the system designer would have to follow a step-by-step procedure in order to compile design of the system in accordance with the software lifecycle. Moreover, there are many design methods which can be used for different purposes such as task design that is particularly developed for dealing with processes and their interactions, and synchronized systems design (Kresken, 1996; P

Business Cycle Properties and Marco Forecasting of the Australian Essay

Business Cycle Properties and Marco Forecasting of the Australian Economy - Essay Example Unemployment is a countercyclical variable but may also perform as a leading indicator of GDP. The prospects for Australia are encouraging. The country’s economy has sustained one of the longest, most progressive runs in the world as cited by the IMF, and despite the recent slump in housing prices, a slight rise in exports and relative weakness in the Australian dollar, the prospects appear encouraging for the country as its macroeconomic variables show stability even through the global economic crisis. Although interest rates had risen somewhat in the past, the government intends to continue lowering interest rates to encourage consumption spending, which according to this study will likely spur continued economic expansion. Introduction The health of the economy of any country is dependent upon the insightful and timely application of the appropriate economic policies by the governing authority. However, deciding on which policy to adopt and the manner in which it should be implemented are not easily discernible by mere intuition. Reliance on the measurement of certain macroeconomic variables is crucial to forecasting the possible directions the economy may take, whether the implemented policies are helpful in propelling the economy towards the desired goal, or whether they are detrimental to the economic welfare of the nation. This report provides a cursory examination of Australia’s macroeconomic variables and their behaviour, with the aim of determining their usefulness in providing insight into the future directions of the Australian economy, as well as their effectiveness as tools in discerning the appropriate economic policy to be adopted to ensure progress. Ten variables are specified consisting of productivity, investment, expenditure, and nominal variables, so as to determine their relationship to GDP as the measure of economic health and viability. During the course of the correlational studies, the nominal variables including broad mo ney supply, inflation, long-term and short-term interest rates, and currency exchange rates, were tested and found uncorrelated with GDP. As a modification of the original study by Fisher, Otto and Voss (1996), this study further sought to correlate the four aforementioned monetary variables with M3 in an attempt to determine whether or not they exerted any influence upon each other. It will be noted that interest rates and currency exchange rates were tools of monetary policy, while inflation rate is a vital price indicator, all of which are related in theory to money supply. The supporting graphs showing superimposed correlated variables are shown in the Appendices A to J, for both the quarter-to-quarter growth rates as well as the quarterly year-on-year (YOY) growth rates. Macroeconomic variables, their cyclicality and indicator properties Several macroeconomic and monetary variables exhibit cyclicalities as a result of their being correlated with the output. The following table shows the resulting correlational coefficients of each of the variables with their respective output. The first set of variables consists of monetary variables which are the subject of monetary policy employed by the government to control the money supply in the market, which in turn determines the inflation rate. Too much money chasing too few products usually results in accelerated