Securities Market Line

An economic model is a framework used to predict economic trends with a considerable degree of precision. They are used at the micro and macro level. The primary purpose of an ideal economic model should be to take the analyst as close to reality as possible. Unfortunately, even with the presence of several techniques, economic models can end up being disastrously misleading. Speaking of techniques, critics of economic models are coming down heavily on their blatant failure to predict any crisis. Here are some reasons.

Flawed Techniques
Human behavior is too erratic to be having a mathematical representation. Stochastic models allow a lot of randomness, whereas non-stochastic economic models pump in too much of logic, especially when it comes to predicting consumer choices, making the results go haywire. Ultimately, an algorithmic equation cannot replace the complex human thought process. Adding variables to it will only make it applicable in a ‘perfect’ world.

Unfeasible Qualitative Models
Bringing in equations to mimic human behavior is the basic flaw in economic models. But the absence of any mathematical representation, as in the case of qualitative models, increases the unreliability factor further. Qualitative models have the reputation of being imprecise.

Ignoring Simplification
Considering the complexity of arriving at a decision in business, an economic model is created with the aim of making things simpler. It plays the role of a guide, giving us a feel of the real world conditions. However, by bringing in too many variables, it ends up being the exact opposite. Models that are too complex make interpretation difficult, thus defeating the purpose of having one in the first place.

‘Good’ is Not ‘Practical’
What defines a ‘good’ economic model? The one that is crammed with variables to paint an accurate picture of reality? Or is it the one that zeroes in on the nature of the problem, making appropriate recommendations to combat it? No prizes for guessing that it is the second one. Trouble starts brewing when economists get carried away trying to make it a mathematical procedure by compromising on reality. There exists a thin line between ‘good’ and ‘useful’, really. Read the rest of this entry »

Duties
Some of the duties of a car detailer include:
•Car wash
•Cleaning wheels
•Shampooing and vacuuming seats, carpets and other upholstery inside the car
•Removing grease and stains
•Waxing and buffing
•Polishing
•Removing defects and swirls
•Paint protection
•Minor repairs
In addition to these, a car detailer is expected to give prompt and effective services to the client, maintain the tools and products that he/she uses and diligently follow the instructions of his/her employer in case of a dealership, aviation company or a car detailing station. In the execution of his/her duties, a car detailer is required to observe all safety measures that are necessary. The most essential qualification of a car detailer is his/her ability to learn from others and his/her own experiences.

Requirements
The minimum educational qualification required is a high school diploma and the age limit is 18 years or above. A prospective employer might insist on a drug-screening test along with the regular background check for law violations and criminal records. A car detailer should have a working knowledge of car parts and the tools used for cars. He/she also must know (or be able to learn) chemical formulas for various cleaning products and the most effective way to use them. As the job of a car detailer requires him/her to travel, a valid driving license is a must. Though most of the car detailers are given on-job training, professional training for car detailers is given in some organizations (for example, the 3D Training Academy).

Pay Scale Read the rest of this entry »