Multiple regression model Essay Example | Topics and Well Written Essays - 1750 words

Multiple regression model - Essay Example Despite the fact that there are numerous factors affecting the housing market, this paper will focus mainly on these four factors since they are the greatest determinants of the housing market. The comparison between real house prices and unemployment rates is rather an interesting one. The 1970s and 1980s national housing bubbles showed the true relationship between unemployment and house prices. The data from the housing bubbles indicated that real house prices declined until the rate of unemployment was at peak. Following the late 1980s housing bubbles, the Caser-Shiller index was of the suggestion that prices reduced for a few years after the unemployment rate peaked. Several studies also support this arguments hence the conclusion that house prices and unemployment rate exhibit a rather negative relationship. There is a correlation between house prices and inflation. In fact several researchers show that the relationship these two variables are 0.18-which is not strong but posit ive. The fact is; the global inflation has been relatively low for quite a lot of time and the interest rates have fallen dramatically during this low inflation rate period. An increase in money supply in the economy causes inflation and house prices to increase. As mentioned earlier, there are a lot more factors that affect house prices and the relationship they exhibit is not as strong compared to the relationship that exist between inflation and house prices. One of the other factors is the rate of interest in the economy. Low interest rates means that home buyers can easily afford to buy a home. This will increase the demand hence eventually increasing the demand of the homes. In large cities like London-where availability to land is limited-you will realize a more distinct effect of inflation. Countries with high population are always characterized with high house prices. This is because high population will always increase the demand for the houses hence pushing up the housing prices. The bottom line is; if the construction industry is not able to satiate the demand for homes, the supply-demand imbalance will explain the unprecedented increase in real house prices. The economical state of the country is also important in determining prices of the houses. Countries with high GDP are experienced with high per capita income hence high demand for housing units which results to higher housing prices. This explains the reason as to why buying a house in a developed country is expensive as compared to underdeveloped or developing countries. This paper will try to analyze the relationship that exists between house prices; GDP, interest rates, population and unemployment rates. Through these variables, the paper will try to determine how house prices are affected by interest rates, GDP, population and unemployment rate in a country. A regression model will be developed: that will eventually be used to project the level of house prices in the future. Objective of the study The main goal of this study is to determine how house prices are affected by factors such as interest rates, GDP, population and unemployment rates. Assumptions of the study Assumptions are vital concept of empirical studies. Just like any other empirical study, this study applies some statistical assumptions in order to achieve the much needed results. These assumptions include: The mean difference is zero The data is normally distributed The variance of the two

Nationalisation of banks in India Research Proposal

Nationalisation of banks in India - Research Proposal Example In order to regulate potentiality of banking institutions, many nations have nationalized the banks in their country. In India, this nationalization has made it possible to establish bank branches throughout the nation and expansion of banking services to several areas of development. Moreover, this nationalization of banks had been instrumental in mobilizing deposits from citizens. Consequently, there had been a significant growth in deposits and advances. As such, most of the banks have expanded their branches and mobilized deposits (Bisht, Mishra and Belwal). The present banking system in India did not develop overnight. It was the result of the expansion – reorganization process and the consolidation of resources. This process had developed gradually over a period of time. There were three important phases in the development of the extant banking system, namely, the pre – nationalization phase, the post – nationalization phase and the post – liberalization phase. All these phases include the development of the market through innovative measures and diversified expansion into financial services. The expansion process has not stopped with this. Increased Internet use had added a fourth dimension to the banking system. The Internet has completely changed the concepts and traditional look of the banking system. The traditional banking system has been transformed due to electronic cash deposits and withdrawals. The electronic delivery channels have provided far more choices to customers and large industries (Bisht , Mishra and Belwal). In the past, the banking system was solely devoted to its economic objectives. However, this perception changed, subsequent to the nationalization of banks. The nationalized banks have a social responsibility and they have to fulfill social objectives (Bisht, Mishra and Belwal). The nationalization of banks commenced in the year 1969. In the first phase,

Construction Industry Importance Of Leadership

Construction Industry Importance Of Leadership The construction industry today is very similar to the construction twenty years ago as many operations, practices and operations have changed very little over the last decades. Though with the new era of technology some modernization has taken place still some theories are practiced the traditional way. In contrast the forces on industry organisation are changing at a rapid pace. These changes in building influence arises the problem of leader preparedness which is a primary concern in the construction industry over the next decade as industrys increasing social, economic and environmental challenges has called into question its ability to create leaders that can develop leaders having the knowledge and skills to address rapidly changing business environments at all organisational levels. The leadership ability to transform the organisation as per the dynamic force market is essential for sustained success in construction industry. Also, the ability for leaders to both motivate the internal workforce as well as communicate to a diverse project team is a challenge to individuals for developing their communication skills. To understand the significance of leadership in construction industry we must first understand what are leader and leadership and how they are formed. LEADER AND LEADERSHIP: In general terms, leadership is a quality that a person possesses to motivate other people to accomplish their objective and that person is called a leader. Leader is a person who could motivate/attract the commitment of the followers by way of influence or power to achieve the goals of the organisation. (Cole, 2005) Leadership at work is a dynamic process whereby one individual in a group is not only responsible for the groups results, but actively seeks the collaboration and commitment of all group members in achieving group goals in a particular context and against the background of a particular national culture. (Cole, 2005) The role of a leader is building a team, development of individuals and achievement of a task. The leader should have the following characteristics: Understanding needs- The leader should understand his/her needs along with the needs and characteristics of each participant in a group. This helps to know a person as an individual, treating them with respect and helping in growth of that individual which leads to the formation of trust and builds confidence amongst participants. All this allows a proper planning of project i.e. is the first step in the process for achieving a respective goal. This can be done through conversation and informal surveys of participants. Using of Resources- Resources include all the things required to complete a job. People are resources as they have knowledge and skill. Knowledge comes from experience while skill is the ability to use your experiences. When the leader brings into use the knowledge and skill of group members they develop experience and improve their skills also getting a positive approach towards it. This comes from proper understanding of the participants as discussed above. Communication- Only a good communication amongst the team can lead to successful completion of a task. For getting information the leader must listen carefully and pay attention to other peoples thoughts and each group member should be given a chance to speak. While giving information the leader should speak slowly and clearly so that the members can listen carefully and understand leaders ideas effectively. Planning- Planning is a very important aspect achieved while exploring via thorough consideration of: task and objective, resources, alternatives and brainstorming. This helps in reaching a decision and reviewing it with all the participants. The plan is then evaluated and executed. A proper planning of task is a major factor that analyses the successful completion of a job. Controlling group performance- A group works together best when it is headed in the same direction and for that someone must lead the effort. Control is a function that the group assigns to the leader for completion of task. Control comes from understanding where the group is right now and where it is heading. This can be done by thorough observation of the happenings, clear instructions and helping to quickly deal with disruptions. Evaluation- Evaluation helps in measuring the performance of a group in getting a job done and teamwork quality. It also helps in analysing the level of performance along with the merits and demerits of the task done in a particular way. Setting an Example and sharing Leadership- It is probably the most important skill needed in a leader, to set him/her as an example for others on how to be an ideal leader. The leader should also share their experience and skill with the group participants to help them succeed. Leadership requires: Motivating and persuading others Taking responsibility for the direction and actions of a team Setting of objectives for proper evaluation Taking the initiative Persevering when things are not working out. Taking a positive attitude to frustration/failure. Taking the initiative and responding flexibly to changing situations Presenting a positive image in front of others. Being assertive Accepting responsibility for mistakes/wrong decisions. TYPES OF LEADERS: Charismatic/Transformational- Leadership is not good or bad by itself but by how it is portrayed in front of others and for what purpose it is being used. History has seen many charismatic misleaders like Hitler, Mao, and Stalin who inflicted evil and sufferings on humanity. Personal qualities and traits are not acquired by training; they are embedded in them since birth. Charismatic leaders inspire the followers through their vision and energy which has a major impact on them whether it is good or evil. Unlike Hitler and Mao, there were some charismatic leaders who worked for the benefit of humanity and betterment of the society like Mahatma Gandhi, Nelson Mandela, and Abraham Lincoln etc. Traditional/Transactional- The leaders who fall under this category have their position secured since birth. Only few people can aspire to be like them and have a few opportunities at work. For example: Kings, Queens, and Tribal Chieftains etc. Situational- They are created as per the given situation. Their position is temporary and become effective when found at right place at the right time like a project manager. Appointed- Such leaders have legitimate powers that they acquire through hierarchy. They influence people directly out of position and their power of the position is derived. For example: CEO, MD, GM etc. Functional- Functional leaders secure their position by the quality of work they do. They adapt according to the competing needs of the society that consists of individual needs, group needs and task needs. Principle Centred- Principle centred leaders are strongly affected by ethical and moral principles. Their quality of work shows this used of ethics which involves honesty, fairness, trust, justice and equity among others. POWER AND INFLUENCE: With leadership comes power and influence which are important factors that help in the motivation of team. Power is the ability to exert influence that is, to change the attitudes or behaviour of individuals or groups. Influence is any action or examples of behaviour that causes a change in attitude or behaviour of another person/ group. (Leadership- Lecture Notes, Pg. 37, 2012) LEADERSHIP THEORIES: Major leadership theories are mentioned as under: Trait Theories- Helps in identification of personal characteristics of leaders which differentiate them from non-leaders. Some of these characteristics include energy, intelligence, and resourcefulness etc. Style Theories- Related to behavioural approach as leaders are born not made. Shows concern for people and task. Can be authoritative or democratic. Contingency Theories- Such theories focus on particular variables that determine which style is best suited for any situation. As per this theory not every style is suitable for all situations. Success depends on leader-member relations, degree of structure in the task and power/authority of the position. Participatory Theories- Suggests that the ideal leader is one that takes the input of others into account. These leaders encourage participation and contributions from group members and make them feel more involved in the process. It calculates to what extent the opinions of members are utilised in decision making. LEADERSHIP vs. MANAGEMENT Often people confuse leadership with management though they both differ from each other on so many levels. A manager is appointed while leadership is earned in most cases. Managers can be characterised as people who imitate, establish clear targets, make short term decisions, solve short term problems, enact visions and do things right. They employ the so-called hard skills such as planning, directing, organising and keeping score. On the other hand, leaders employ many of the softer skills. They direct and guide people; influence thoughts and behaviours; motivate; encourage work towards goals; take risks; innovate; have a long-range perspective; have their eye on the horizon; create visions and do the right things. (Leadership vs. Management, Leadership in the Construction Industry, Pg. 5) According to Covey (1992): Leadership deals with direction- with making sure that the ladder is leaning against the right wall. Management deals with speedà ¢Ã¢â€š ¬Ã‚ ¦. Leadership deals with vision-with keeping the mission in sight- and with effectiveness and results. Management deals establishing structures and systems to get those results. Leadership focuses on the top line and management on the bottom line. Leadership derives its powers from values and correct principles. Management organises resources to serve selected objective to produce bottom line. Management and Leadership are not mutually exclusive; in factà ¢Ã¢â€š ¬Ã‚ ¦. leadership is the highest component of management. To summarise, the manager must have certain leadership qualities to take their organisation towards success by motivating people to achieve that success. According to the Eagan Report, The Eagan Report identifies five drivers of change necessary to ensure greater profitability as well as better quality in the Construction Industry: Committed Leadership A focus on the customer Integrated processes and teams A quality driven agenda Commitment to people (Leadership- Lecture Notes, Pg. 40, 2012) LEADERSHIP IN CONSTRUCTION INDUSTRY: Construction industry is very complex and is often met with various problems which are non-completion of a job, non-availability of labour, Community barriers between workers and goods availability which leads to delay in productivity and effectiveness on construction sites many of which arrive from inadequate understanding of leadership and job relationships. Leadership in different sectors of construction industry: Health and Safety- Leadership in health and safety sector is of strong importance as this sector deals with health related issues for labour along with other people who are related to a construction project. This sector has zero tolerance policies, industry initiatives and high level of investment. Sustainability- Sustainability is an important sector for the industry to consider. The construction done on a site should be sustainable and environment friendly in current time as per the urgency of the sustainability agenda. So the leader should be well aware of the ill effects a particular action that is performed will have on the nature. Business ethics- Business ethics are also a major factor in the success of a task. A leader must be well aware of all the business rules and changes that are occurring in the construction industry to make his team lead in the right direction and as per the building regulations. This provides a strong base for a leader by making them flexible and well aware of the current surroundings. Education and Training- Proper education and training helps in becoming an ideal leader. This sector focuses on education and experience of the leader and group members to put alike people with each other. This helps in creating harmony and trust between the members which in turn helps in successful completion of a job. In construction industry the requirements for an effective leader are as follows: Good communication skills Understanding of business Strategic vision Charisma and Inspiration Integrity Good listener Flexible i.e. open to changes Experience The weakest leadership qualities are identified as poor communication skills, lack of time, lack of general management skills, impatience, lack of decisiveness and not delegating enough. Also there is a presence of untapped leadership potential within the industry. Many areas of weak leadership can be addressed through industry training and other leadership development programmes. Improvement in communication and general management skills are two areas in particular that are of topmost priority. Organisational culture and lack of opportunities are the major drawbacks in the construction industry which stops an individual from reaching their highest potential. How to improve leaders? As discussed above many of the problems in construction industry arise due to poor leadership skills and to improve leadership qualities following steps should be taken: New experiences, the most valuable way to improve leadership ability. This includes mentoring or anything else that gives an individual a new hands-on experience and exposure. Clear direction and guidelines are important to improve individual leaders in the industry. This reinforces the importance of empowerment, development of leaders at all levels of seniority and corporate strategic planning. Skills, education, training and qualifications are also required to be present in any leader. To achieve the above qualities various character development workshops and programmes can be held within an organisation to make people understand the concept of leadership better and to know more about leadership skills tailored specifically for construction based professionals. These workshops must include programmes focusing on communication skills and general management training, education and training, mentoring schemes, work experience, and secondment programmes. They should also include strategies for identifying the leaders of the future, and for rewarding and celebrating success. CONCLUSION: Leaders are of utmost requirement these days to complete a given job. The leaders help in creating group cohesiveness which helps in proper utilisation of the teamwork. The leaders are born and not created though certain steps can be taken to brush up their skills. The leadership development workshops can help in improving the leadership skills of people which will in turn help in the betterment of the construction industry. Also, the main drawbacks in the construction industry related to incompletion of a task can be tackled effectively if positive steps are taken in that direction. Great leaders will be created that will work for the industry and give their hundred per cent to achieve a task.

Photos, Photography, and Images - The Superiority of Images Over Words :: Free Argumentative Essays

The Superiority of Images Over Words The battle for superiority and dominance between words and images is long and on-going. Both can be found everywhere, mostly in books, magazines, television, paintings, and movies. However, in more recent years, the dominance of images over words can be seen. In a world where better, faster, and easier communication is necessary, images are a far better option than words. Mitchell Stephens in â€Å"By Means of the Visible: A Picture’s Worth,† Ward Churchill in â€Å"Crimes Against Humanity,† and the director of Within These Walls, Mike Robe, concur that images such as gestures, symbols, and pictures have a widespread and profound influence. In truth, â€Å"painting is much more eloquent than speech, and often penetrates more deeply into one’s heart† (Stephens 473). Thus, images are more powerful than words because they communicate more clearly and concisely, cater for a wider and more diverse audience, and connect with people on a deepe r level. Images such as pictures dominate words because they can relay messages in a clear and succinct manner. The purpose of being able to communicate in the most effective way possible is to spread knowledge and information. However, when miscommunication becomes a factor and a problem, the quality of the knowledge being relayed becomes tainted. Stephens has found that images are a way to remedy this. He reasons that because â€Å"primates are visual animals, and think best in pictorial or geometric terms,† humans need images in order to fully explain and/or understand a concept (480). Unfortunately, the Nazis understood the power of this theory. Churchill found that while spreading anti-Semitic propaganda, the Nazis drew â€Å"grotesque caricatures of Jewish faces† (498). Immediately, messages of inferiority and hatred spread throughout Germany. Even without words, such pictures had a profound effect. It influenced â€Å"average Germans to later indulge in th e outright liquidation of Jewish ‘vermin’† (501). Even though images were used negatively, it is clear that they have a deep effect on people’s perception and understanding. Words, however, cannot have the same effect. Because abstract words and emotions such as hate require â€Å"a deep understanding,† they â€Å"can be put into images but are difficult to put into words† (Stephens 480). Therefore, images remain dominant over words because a single picture can depict complex emotions that no word or group of words can accomplish.

Sticks and Stones

A The words unspoken and actions undone may possibly remain so, but what is done cannot be undone, and if you cause a situation to go from bad to worse, the consequences of your deed will come to haunt you. This is what the main character of Trezza Azzopardi’s short story â€Å"Sticks and Stones†, Lewis, has experienced. Lewis accepts things as they are, even though he wants to change them: â€Å"[†¦]he imagines he’s the kind of person that challenges teachers like Stott and Walker, the kind that the Headmaster takes seriously. (pages 9-10, lines 61-62). The quote supports the statement and also implies he is a person who blends in, and more importantly, that he does not want to stand out. Hence, he has adapted to his environment because he feels it is the safest thing to do. This has been caused by his mother, who has told him that â€Å"It’s the survival of the fittest† throughout his whole life. Paul Fry is not peer of Lewis’, but Le wis given his trait of staying in the background emphasizes with him surprisingly much.The ability to emphasize so much with Paul causes Lewis to go against his guts that tells him to mind his own matters, so it must have struck a nerve. Being able to identify with Paul so well means he has experienced something akin to Paul’s inflections, which the small portion of his past underlines: â€Å"Don’t be such a baby. [†¦]boys will be boys. It’s human nature. † (page 10, line 69). He sees himself in Paul Fry, and consequently wants to help because he had no help to claim himself.Lewis’ profession is not stated in the text, but it implicitly indicates that he is a teacher. For instance, the Headmaster catches him after class: â€Å"The next day, Harris (Headmaster) came and found him after class. † (page 10, line 79). Moreover, Paul Fry is a student and when Lewis comes home, he has new information about Paul Fry to tell his girlfriend, Anna : â€Å"[†¦]he wanted to tell her (Anna) about Paul Fry. [†¦]Later, she’d sigh when he came in from work, [†¦]†What’s happened now? † she’d ask† (page 11, lines 98-102).The jump and the whole incident lie to the past, though. The short story is about Lewis reflecting on the past, which is why flashbacks occur in the middle of the storyline. In the present, Lewis has no connection to the involved people of the event. He has quitted teaching after Paul’s death: â€Å"[†¦]on Lewis’s last day, after suggesting he should take some time off. It was the day before Paul Fry was found. † (page 11, lines 120-122) and even though he has an old letter from Anna, he has no contact to her: â€Å"†There’s a letter for you†, his mother shouts. †¦]He’s been there a month now, and[†¦]has had no phone calls, certainly no letters, no nothing at all from Anna. †(page 8, lines 18;21 -22) â€Å"Lewis puts it to his face. He can’t find the scent of her in the words† (page 9, line 40). The letter is definitely from Anna and has lost its scent, which implies that it has had one, but has now faded with time, which means it is old. The remorse of Paul’s death is so strong that it causes him to dream of his dive into the beach.This indicates it was the same day Paul died, and more so does the fact that the boys had never been all the way to Lewis’ place at the beach. The boys went out to beat up Lewis, because as Lewis tells us, he observed Paul being beat up and making no sound – hence, the death of Paul – and they wanted to shut up Lewis. The use of flashbacks throughout the plot keeps the reader at suspense. Lead on by a in media res start, Trezza Azzopardi keeps building up the suspense. The flashbacks are never out of context: they always occur at a setting relevant to it.As a natural follow-up on the flashbacks, Azzopard i’s short story ends with change in the main character’s person. That is why Lewis throws out the pebbles, because for each pebble he has felt his life was difficult. Paul Fry’s incident has haunted him for long enough and he now wants to move on. After he throws away the pebbles, the waves of the beach does not trouble him anymore and he can finally listen to the humming earth, which indicates the change. A change long awaited caused by merely one devastating mistake.

Consequences of the Korean War

Consequences of the Korean War * The Korean War never ended, and they are still under an armistice to this day. The Korean War is technically not over; all that's keeping the two sides from going to war again is a cease-fire agreement. * The Korean War brought the US and Russia further apart, and the fear of communism would later lead the US to throw itself into Vietnam, to avoid another North Korea. * It also brought China into conflict with the US, bringing bad feelings between the two countries which would last for decades. To this day, American troops are staitioned along the border between the Koreas and there are still reports of sporadic firing. * The war also created a strong bond between South Korea and the United States. * Syngman Rhee's southern regime became even more dictatorial, and in 1960 he resigned after student riots. South Korea only became more unstable with his departure, and it is only in the last two decades that South Korea has really seen sustained economic growth. * In North Korea, Kim Il-sung developed a full-scale personality cult, and ruled until his death in 1994. Tensions between the two countries remain to this day, perhaps seen best in North Korea's boycott of the 1988 Seoul Olympics, to which the USSR and PRC sent athletes. The legacy of the Korean War continues to haunt the United States, as the US worries about North Korea's possession of nuclear weapons. * * The Korean War was able to bring diverse effects to not only Korea but the World. The Korean War was one of the most destructive and brought economic and social damage to Korea. However, the Korean War was able to boost the economy of both Japan and the US.The Korean War also legitimized the United Nations and led to further expansion of military power. The Korean War also showed the growing anti-communist feeling across the US. The Korean War brought both positive and negative effects to the world. * The Korean War brought many negative effects to Korea. â€Å"The Kor ean War was one of the most destructive of the 20th century. Perhaps as many as 4 million Koreans died throughout the peninsula, two-thirds of them civilians. This compares, for example, with the 2. 3 million Japanese who died in WWII.China lost up to 1 million soldiers, and the US suffered 36,934 dead and 103,284 wounded. Other UN nations suffered 3322 dead and 11,949 wounded. † (http://encarta. msn. com/text_7 6559607__0/Korean_War. html) The Korean War also brought social damage to Korea, â€Å"especially in the North, where three years of bombing left hardly a modern building standing. †(http://encarta. msn. com/text_761559607__0/Korea_War. html) The war also reinforced the boundaries between the North and the South. North Korea remained a communist nation and South Korea became a free republic.This social difference still brings conflict even today. * Although the Korean War had negative effects on Korea, it did however boost the economy of Japan,† The war ha d a lasting consequence beyond Korea. Much of the material used in the war was bought from nearby Japan. This gave Japanese economy such an dynamic boot after the ravages of WWII that some have called the Korean War, Japan’s Marshal Plan, a reference to the US economic aid program that helped rebuild post-war Europe. The Korean War had similar effects on the American economy, as defense spending nearly quadrupled in the last six months of 1950. (http://encarta. msn. com/text_761559607__0/Korea _War. html) The Korean War although devastating to Korea was able to bring a new beginning to the Japanese with a better economy. The Korean War was able to give the Japanese the success that WWII gave the US after the depression. * Besides world economic success and social devastation the Korean War was also able to legitimize the United Nations as well as bring larger military expansion to the world. â€Å"It confirmed the ideas behind NSC-68, with its call for US to expand its milit ary and to lead an anticommunist alliance. Goldfield, pg 870) The Korean War also, â€Å"responsible for establishing America’s chain of military bases around the world and its enormous defense and intelligence system at home. † (http://encarta/msn. com/text_761559607__0/Korean_War. html) The Korean War was able to reinforce the idea of a more prominent military system and the importance of the United Nations. * The Korean War had both positive and negative effects. The Korean War was able to boost the economy of the Japanese government and revive their economy similarly to the way ours was during WWII. The Korean War, however, was very destructive to Korea.Both North and South Korea had much causality but they both were stretched economically. With the end of the Korean War it left Korea still split and still with a communist government to deal with even through today. The Korean War also legitimized the United Nations as well as brought more military power throughout the world. The effects of the Korean War can without a doubt still be seen throughout the world today. * January 14, 1950: Ho Chi Minh proclaims DRV (Democratic Republic of Vietnam). * April 25, 1950: Truman approves NSC-68 * May 30, 1950: In South Korea, Republic Of Korea elections.Many conservatives ousted by moderates. * June 25, 1950: North Korea crosses the 38th Parallel, invading South Korea. * June 25, 1950: First Blair House meeting. * June 26, 1950: North Korea's tanks reach the outskirts of Seoul. * June 27, 1950: Truman commits US Naval and Air support to South Korea. * June 27, 1950: American Delegate asks UN to furnish assistance to ROK (Republic of Korea) to restore international peace. * June 29, 1950: General MacArthur flies to South Korean headquarters at Suwon. * June 30, 1950: Truman and advisers agree to give MacArthur 2 divisions. July 2, 1950: NKPA (North Korean People's Army) takes Suwon. * July 22, 1950: Communist Chinese attack Nationalist Chinese islands, Quemoy and Little Quemoy. * July 29, 1950: MacArthur visits Formosa, home of the Nationalist Chinese defeated by Mao. * August 17, 1950: US announces in UN its goal of a unified, anti-Communist Korea. * August 27, 1950: US planes accidentally attack Manchurian airfields. * September 11, 1950: Truman approves NSC-81/1. * September 15, 1950: With US/UN/ROK forces pushed back nearly to the end of the Korean peninsula, MacArthur launches the Inchon Invasion. September 27, 1950: Walker's Eighth Army makes contact with X Corps. MacArthur gives OK for US forces to cross the 38th Parallel. * September 29, 1950: Syngman Rhee's government ceremonially restored in reconquered Seoul. * October 9, 1950: US Army crosses 38TH Parallel near Kaesong. * October 15, 1950: Wake Island Meeting * October 19, 1950: US forces occupy Pyongyang * October 24, 1950: MacArthur orders his troops into Korea's northernmost provinces. * October 25, 1950: South Korean ROK forces annihilated by PRC (People's Republic of China) forces at Pukchin. * November 1, 1950: First US vs.Communist Chinese fighting at Unsan * November 3, 1950: UN resolution passed, censuring North Korea for â€Å"breach of peace† * November 7, 1950: Congressional Elections in US, seen as a referendum on Truman's policy. * November 27, 1950: US Marines/Infantry surrounded by Chinese Communist forces at Chosin Reservoir. * November 30, 1950: In press conference, Truman admits US may be considering using A-Bomb. * December 15, 1950: Truman declares a state of national emergency. * January 4, 1951: Ridgway evacuates Seoul, withdraws from Inchon * January 25, 1951: Operation Thunderbolt. US/UN/ROK forces go back on the offensive. February 1, 1951: UN censures People's Republic of China for â€Å"aggression† * February 1951: Operation Killer begun. * March 7, 1951: Ridgway launches Operation Ripper. * March 15, 1951: US/UN/ROK forces retake Seoul. * March 24, 1951: MacArthur unilaterally issues an ultimatum to the People's Republic of China. * April 4, 1951: Congress endorses NATO, sends Eisenhower to head unified NATO command. * April 5, 1951: Operation Rugged. * April 5, 1951: Truman dismisses MacArthur from command. * May 3, 1951 to June 25, 1951: Senate Foreign Relations Committee investigates MacArthur's dismissal. April 14, 1951: Gen. James Van Fleet assumes tactical command of Eighth Army. * April 22, 1951: All-out Communist offensive fails to retake Seoul. * May 15, 1951: Another Communist offensive, again fails to take territory. * May 18, 1951: Ridgway launches counteroffensive. * May 18, 1951: UN nations start military goods boycott of the People Republic of China. * May 30, 1951: Operation Piledriver, an offensive against the Iron Triangle, begins. * June 30, 1951: Ridgway broadcasts first American overture for peace talks. * July 8, 1951: Peace talks begin at Kaesong. August 19, 1951: Communists accuse UN forces of violating the Kaesong area, suspend the talks. * October 25, 1951 : Peace talks resume at Panmunjom. * March 29, 1952: Truman announces he will not run for reelection. * April 11, 1952: Truman relieves Eisenhower of command so he can run for President. * June 1952: Washington authorizes bombing Korean power plants on the Yalu river. * July 11, 1952: US air attack on Pyongyang. * August 5, 1952: Rhee wins another clearly rigged election. * November 4, 1952: Eisenhower wins Presidential election in landslide. November 29, 1952: Eisenhower secretly goes to Korea on fact-finding mission * February 11, 1953: Eisenhower replaces the frustrated Van Fleet with Lt. Gen. Maxwell Taylor. * April 16, 1953: Communists attack â€Å"Pork Chop Hill† * April 26, 1953: Talks resume at Panmunjom. * June 8, 1953: â€Å"Terms of Reference,† regulating POW repatriation, signed. * July 19, 1953: Delegates reach agreement at Panmunjom. * July 27, 1953: Peace Treaty signed at Panmunjom. 38th parallel reset as boundary between communist North and anti-communi st South. Cold War tensions continue unabated.