What is the importance of exchange rates?
Who benefits and who loses when a country’s currency appreciates?
Who benefits and who loses when a country’s currency depreciates?
In the long run, what are the major factors that impact exchange rates?
Understanding central banks impact exchange rates, select three central banks and demonstrate/ explain how this occurs.
producing movement from sequential drawings. However, it was the introduction of motion picture films, in the late 1890s that gave a boost to the concept of animation. There is no single person who can be credited with the title of the “Creator” of animation. This is because when animation was developed, many people were involved in the same thing at the same time. J. Stuart Blackton was the first person to make an animated film, which he called “Humorous phases of funny faces”. For the purpose, he used to draw comical faces on a blackboard, one after the other, and film them. In 1910, Emile Cohl came out with the first paper cutout animation. The development of celluloid, around 1913, made animation much easier to manage. While talking about the history of animation, three names that are definitely worth mentioning are those of Winsor McCay of United States & Emile Cohl and Georges Melies of France. Émile Cohl’s Fantasmagorie (1908) was the first animated film that was made using ‘traditional (hand-drawn) animation’. Georges Méliès, a creator of special-effect films, was the first person to use animation, along with special effects. He was the one who gave the idea of stop-motion animation. McCay also created a number of animation films, with the most noted ones being Little Nemo (1911), Gertie the Dinosaur (1914) and The Sinking of the Lusitania (1918). In fact, many people take ‘Sinking of the Lusitania’ to be the first animated feature film. However, it was Walt Disney who took animation to an entirely new level altogether. In 1928, with the premiere of ‘Steamboat Willie’, he became the first animator to add sound to his movie cartoons. Walt Disney achieved another milestone in 1937, when he produced the first full length animated feature film, named ‘Snow White and the Seven Dwarfs’. The year 1955 saw Art Clokey producing ‘Gumby’, a stop-motion clay animation. Introduction of computers marked a step further in the concept of animation. In 1951, an MIT student Ivan Sutherland created a computer drawing program, Sketchpad, further giving a boost to animation. With time, computer started gaining an increasing importance in the field of animation. Movies like ‘Star Wars’ relied on computer animation for many of its special effects. In 1995 came ‘Toy Story’, produced by Walt Disney Productions and Pixar Animation Studios, the first full length feature film animated totally on computers. Since that time, animation and computer have gone hand in hand, creating new milestones with time. Technology development has prompted a number of low cost hubs with powerful computer animation platforms to emerge in Asia. India is fast becoming a preferred destination for Animation outsourcing and is steadily overtaking the traditional players in the field like Philippines, Korea & Taipei. Its boom time in the Indian animation industry, pegged at approximately US$ 300- $350 million in 2005. Cities like Mumbai, Chennai, Bangalore, Hyderabad and Thiruvananthapuram are fast emerging as the country’s major animation hubs. The big studios have set up world-class, state-of-the-art facilities equipped with hardware and software like SGI, 3DMax and SoftImage, SFX and processing motion capture facilities. India’s biggest advantages are its cost effectiveness and good quality. The total cost for making a full-length animated film in America is estimated to be US$100 million to US$175 million. On the other hand, in India, it can be made for US$15 million to US$25 million. According to NASSCOM, the animation sector grew by over 20% in 2004. Studios spread across the country are doing animation work li>GET ANSWER