Financial Environment and Interest Rate and Inflation

An Assignment of Business Finance Course Code: FIN -2101 Submitted To: Md. Monzur Morshed Bhuiya Associate Professor Department of Finance Jagannath University, Dhaka. Submitted By: Md. Mazharul Islam. Group Representative of Finance Interface B. B. A, 3rd Batch (2nd Year, 1st Semester) Session: 2008-2009 Department of Finance Jagannath University, Dhaka. Date of Submission: 25-10-2010 Department of Finance Jagannath University 1|Page 1 Sl. No. Name 01. Md. Mazharul Islam. (Group Representative) 02. Khadizatuz Zohara. Roll No. 091541 091526 Department of Finance Jagannath University 2|PageTable of Contents Sl. No. 2-1 2-2 2-3 2-4 2-5 2-6 2-7 2-8 2-9 2-10 2-11 Contents Problems Yield Curves Yield Curves Inflation and Interest Rate Rate of Interest Real Risk-Free Rate, MRP and DRP Exam-Type Problems Expected Inflation Rate Expected Rate of Interest Expected Rate of Interest Interest Rate Interest Rate Expected Rate of Interest Ending Part Formula and Necessary Illustration for Calculat ion Summary of the Assignment Page No. 5 6 7 9 10 12 13 14 14 15 16 17 18 Department of Finance Jagannath University 3|Page The Financial Environment: Interest Rates Problems 2-1:Suppose you and most other investors expect the rate of inflation to be 7 percent next year, to fall to 5 percent during the following year, and then to remain at a rate of 3 percent thereafter. Assume that the real risk-free rate, k*, is 2 percent and that maturity risk premium on treasury securities rise from zero on very short-term bonds ( those that mature in few days) by 0. 2 percentage points for each year to maturity, up to a limit of 1. 0 percentage point on five year or longer-term T-bonds. a. Calculate the interest rate on one, two, three, four, five, 10 and 20 year Treasury securities, and Plot the yield curve. .Now suppose IBM, a highly rated company, had bonds with the same- maturities as the Treasury bonds. As an approximation, plot a yield curve for IBM on the same graph with the Treasury bon d yield curve, (Hint: Think about the default risk premium on IBM’s long-term versus its short-term bonds. ) c. Now plot the approximate yield curve of Long Island Lighting Company (LILCO), a risky nuclear utility. Solution 2-1: Requirement ‘a’: Expected Annual Inflation Rate 7% 5% 3% 3% 3% 3% 3% Real Risk-free Rate (k*) 2% 2% 2% 2% 2% 2% 2% Average Expected Inflation Rate or Inflation Premium (IP) = 7% 1 =7% 2 = (7%+5%) ? 2 = 6% 3 = (12%+3%) ? 3 = 5% 4 = (15%+3%) ? 4 =4. 5% 5 =(18%+3%) ? 5 = 4. 2% 10 =(21%+3%? 5) ? 10=3. 6% 20 =(36%+3%? 10) ? 20=3. 3% Bond Type 1st year bond 2nd year bond 3rd year bond 4th year bond 5th year bond 10th year bond 20th year bond Average Nominal Interest Rate = k* + IP 9% 8% 7% 6. 5% 6. 2% 5. 6% 5. 3%Bond Type 1st year bond 2nd year bond 3rd year bond 4th year bond 5th year bond 10th year bond 20th year bond Maturity Risk Premium (MRP) 0. 2% 0. 2%+0. 2% =0. 4% 0. 4%+0. 2% =0. % 0. 6%+0. 2% =0. 8% 0. 8%+0. 2% =1. 0% 1. 0% 1. 0% Department of Finance Jagannath University 4|Page And Bond Type 1st year bond 2nd year bond 3rd year bond 4th year bond 5th year bond 10th year bond 20th year bond The yield Curve: + 9% + 0. 2% 8% + 0. 4% 7% + 0. 6% 6. 5% + 0. 8% 6. 2% + 1. 0% 5. 6% + 1. 0% 5. 3% + 1. 0% Interest Rate (k) 9. 2% 8. 4% 7. 6% 7. 3% 7. 2% 6. 6% 6. 3% 10. 5 10. 0 9. 5 9. 0 8. 5 Yield (%) 8. 0 7. 5 7. 0 6. 5 6. 0 5. 5 5. 0 0 2 4 6 8 Yield Curve LILCO IBM T – Bonds – Bonds T 10 12 14 16 18 20 Yield of MaturityRequirement ‘b’: The interest rate on the IBM bonds has the same components as the Treasury securities, except that the IBM bonds have default risk, so a default risk premium must be included. Therefore, = * + IP + MRP + DRP For a strong company such as IBM, the default risk premium is virtually zero for short-term bonds. However, as time to maturity increases, the probability of default, although still small, is sufficient to warrant a default premium. Thus, the yiel d risk curve for the IBM bonds will rise above the yield curve for the Treasury securities.In the graph, the default risk premium was assumed to be 1. 2 percentage points on the 20-year IBM bonds. The return should equal 6. 3% + 1. 2% = 7. 5%. Department of Finance Jagannath University 5|Page Requirement ‘c’: Long Island Lighting Company (LILCO) bonds would have significantly more default risk than either Treasury securities or IBM bonds, and the risk of default would increase over time due to possible financial deterioration. In this example, the default risk premium was assumed to be 1. 0 percentage point on the one-year LILCO bonds and 2. 0 percentage points on the 20-year bonds.The 20-year return should equal 6. 3% + 2% = 8. 3%. ————- Problem 2-2: The following yield on U. S. Treasury securities were taken from The Wall Street Journal on January 7, 2004: Term Rate 6 months 1. 0% 1 year 1. 2% 2 year 1. 6% 3 year 2. 5% 4 year 2. 9% 5 year 3 . 7% 10 year 4. 6% 20 year 5. 1% 30 year 5. 3% Plot a yield curve based on these data. Discuss how each term structure theory mentioned in the chapter can explain the shape of the yield curve you plot. Solution 2-2: 5. 35 5. 30 5. 25 Yield (%) 5. 20 5. 15 5. 10 5. 05 5. 00 4. 95 4. 90 4. 85 0 5 Yield Curve 10 15 20 Maturity (years) 25 30 ———— Department of Finance Jagannath University 6|Page Problem 2-3: Inflation currently is about 2 percent. Last year the Fed took actions to maintain inflation at this level. However, the economy is showing signs that it might be growing too quickly, and reports indicate that inflation is expected to increase during the next five year. Assume that at the beginning of 2005, the rate of inflation expected for the year is 4 percent; for 2006, it is expected to be 5 percent; for 2007, it is expected to be 7 percent; and, for 2008 and every year thereafter, it is expected to settle at 4 percent. a.What is the average expected inflation rate over the five year period 2005-2009? b. What average nominal interest would, over the five-year period, be expected to produce a 2 percent real risk-free rate of return on five-year Treasury securities? c. Assuming a real risk-free rate of 2 percent and a maturity risk premium that starts at 0. 1 percent and increases by 0. 1 percent each year, estimate the interest rate in January 2005on bond that mature in one, two, five, 10 and 20 years and draw a yield curve based on these data. d. Describe the general economic conditions that could be expected to produce an upward-sloping yield curve. . If the consensus among investors in early 2005 is that the expected rate of inflation for every future year is 5 percent ( = 5% for t = 1 to ? ), what do you think the yield curve would look like?Consider all the factors that are likely to affect the curve. Does your answer here make you question the yield curve you drew in part c? Solution 2-3: Requirement ‘a & b’: Expected Annual Inflation Rate 4% 5% 7% 4% 4% 4% 4% Real Risk-free Rate (k*) 2% 2% 2% 2% 2% 2% 2% Average Expected Inflation Rate or Inflation Premium (IP) 1 = 4% 1 =4% 2 = (4%+5%) ? 2 = 4. 5% 3 = (9%+7%) ? 3 = 5. 33% 4 = (16%+4%) ? =5% 5 =(20%+4%) ? 5 = 4. 8% 10 =(24%+4%? 5) ? 10=4. 4% 20 =(44%+2%? 5) ? 20=4. 2% Bond Type 1st year bond 2nd year bond 3rd year bond 4th year bond 5th year bond 10th year bond 20th year bond Average Nominal Interest Rate = k* + IP 6% 6. 5% 7. 33% 7% 6. 8% 6. 4% 6. 2% Requirement ‘c’: Bond Type 1st year bond 2nd year bond 3rd year bond 4th year bond 5th year bond 10th year bond 20th year bond Department of Finance Maturity Risk Premium (MRP) 0. 1% 0. 1%+0. 1% =0. 2% 0. 2%+0. 1% =0. 3% 0. 3%+0. 1% =0. 4% 0. 5%+0. 1% =0. 5% 0. 5%+(0. 1%? 5) =1. 0% 1. 0%+(0. 1%? 10) =2. 0% Jagannath University 7|PageAnd Bond Type 1st year bond 2nd year bond 5th year bond 10th year bond 20th year bond The Yield Curve: 9. 0 8. 0 7. 0 6. 0 5. 0 4. 0 3. 0 2. 0 1. 0 0. 0 0 2 4 + 6% + 0. 1% 6. 5% + 0. 2% 6. 8% + 0. 5% 6. 4% + 1. 0% 6. 2% + 2. 0% Estimated Interest Rate (k) 6. 1% 6. 7% 7. 3% 7. 4% 8. 2% Yield Curve Yield (%) 6 8 10 12 14 Years to Maturity 16 18 20 Requirement ‘d’: The ? normal? yield curve is upward sloping because, in ? normal? times, inflation is not expected to trend either up or down, so IP is the same for debt of all maturities, but the MRP increases with years, so the yield curve slopes up.During a recession, the yield curve typically slopes up especially steeply, because inflation and consequently short-term interest rates are currently low, yet people expect inflation and interest rates to rise as the economy comes out of the recession. Requirement ‘e’: If inflation rates are expected to be constant, then the expectations theory holds that the yield curve should be horizontal. However, in this event it is likely that maturity risk premiums would be applied to long-term bonds because o f the greater risks of holding long-term rather than short-term bonds: Yield (%) Actual yield curveMaturity risk premium Pure expectations yield curve Years to Maturity Department of Finance Jagannath University 8|Page If maturity risk premiums were added to the yield curve in part e above, then the yield curve would be more nearly normal—that is, the long-term end of the curve would be raised. ————- Problem 2-4: Assume that the real risk-free rate of return, k*, is 3 percent, and it will remain at that level far into the future. Also assume that maturity risk premiums on Treasury Bonds increase from zero for bonds that mature in one year or less to a maximum of 2 percent, and MRP increases by 0. percent for each year to maturity that is greater than one year – that is, MRP equals 0. 2 percent for a two-year bond, 0. 4 percent for a three year bond, and so forth. Following are the expected inflation rates for the next five years: Year Inflat ion Rate (%) 2005 3 2006 5 2007 4 2008 8 2009 3 a. b. c. d. What is the average expected inflation rate for a one, two, three, four and five year bond? What should be the MRP for a one, two, three, four and five year bond? Compute the interest rate for a one, two, three, four and five year bond?If inflation is expected to equal 2 percent every year after 2009, what should be the interest rate for a 10 and 20 year bond? e. Plot the yield curve for the interest rates you computed in parts c and d. Solution 2-4: Requirement ‘a’: Expected Annual Inflation Rate 3% 5% 4% 8% 3% 2% 2% Real Risk-free Rate (k*) 3% 3% 3% 3% 3% 3% 3% Average Expected Inflation Rate or Inflation Premium (IP) 1 = 3% 1 =3% 2 = (3%+5%) ? 2 = 4% 3 = (8%+4%) ? 3 = 4% 4 = (12%+8%) ? 4 =5% 5 =(20%+3%) ? 5 = 4. 6% 10 =(23%+2%? 5) ? 10=3. 3% 20 =(33%+2%? 5) ? 20=2. 65%Bond Type 1st year bond 2nd year bond 3rd year bond 4th year bond 5th year bond 10th year bond 20th year bond Requirement ‘b†™: Average Nominal Interest Rate = k* + IP 6% 7% 7% 8% 7. 6% 6. 3% 5. 65% Bond Type 1st year bond 2nd year bond 3rd year bond 4th year bond 5th year bond 10th year bond 20th year bond Maturity Risk Premium (MRP) 0% 0%+0. 2% =0. 2% 0. 2%+0. 2% =0. 4% 0. 4%+0. 2% =0. 6% 0. 6%+0. 2% =0. 8% 0. 8%+(0. 2%? 5)=1. 8% 2% Department of Finance Jagannath University 9|Page Requirement ‘c & d’: Bond Type 1st year bond 2nd year bond 3rd year bond 4th year bond 5th year bond 10th year bond 20th year bond 6% + 0% 7% + 0. 2% 7% + 0. 4% 8% + 0. 6% 7. 6% + 0. 8% 6. 3% + 1. 8% 5. 65% + 2% Interest Rate (k) 6% 7. 2% 7. 4% 8. 6% 8. 4% 8. 1% 7. 65% Requirement ‘e’: Yield Curve 9. 0 8. 5 Yield (%) 8. 0 7. 5 7. 0 6. 5 6. 0 5. 5 5. 0 0 2 4 6 8 10 12 14 16 18 20 Years to Maturity ————Problem 2-5: Today’s edition of The Wall Street Journal reports that the yield on Treasury bills maturing in 30 days is 3. 5 percent, the yield on Treasury bills m aturing in 10 years is 6. 5 percent, and the yield on a bond issued by Nextel Communications that matures in six years is 7. 5 percent.Also, today the Federal Reserve announced that inflation is expected to be 2 percent during the next 12 months. There is a maturity risk premium (MRP) associated with all bonds with maturities equal to one year or more. a. Assume that the increase in the MRP each year is the same and the total MRP is the same for bonds with maturities equal to 10 years and greater that is, MRP is at its maximum for bonds with maturities equal to 10 years and greater. What is the MRP per year? b. What is default risk premium associated with Nextel’s bond? c. What is the real risk-free rate of return? Department of Finance Jagannath University 0 | P a g e Solution 2-5: Requirement ‘a’:Since MRP associated with all bonds with maturities equal to one year or more, so with Treasury bills maturing in 30 days, 0% MRP is associated, then k = k* + IP ? 3. 5% = k* + 2% ? k* = 3. 5% ? 2% ? k* = 1. 5% At the 10 year bond: k = k* + IP + MRP ? 6. 5% = 1. 5% + 2% + MRP ? MRP = 6. 5% ? 1. 5% ? 2% ? MRP = 3% As MRP at 10 year bond is 3%. So MRP per year is (3? 10) = 0. 3%. Requirement ‘b’: Since 30 days T-bond and 10 years T-bond fulfills the equations:- K = k* +IP +MRP, We have to calculate DRP from 6 years Nextel Bond: k = k* +IP +DRP +MRP ? 7. 5% = 1. 5% + 2% + DRP + (0. % ? 6) ? 7. 5% = 3. 5% + DRP + 1. 8% ? DRP = 7. 5% ? 3. 5% ? 1. 8% ? DRP = 2. 2% Requirement ‘c’: Now real risk-free rate of return k* = 3. 5% – IP = 3. 5% – 2. 0% = 1. 5% ————- Exam-Type Problems 2-6: According to The Wall Street Journal, the interest rate on one-year Treasury bonds is 2. 2 percent, The rate on two-year Treasury bonds is 3. 0 percent, and the rate on three-year Treasury bonds is 3. 6 percent. These bonds are considered risk free, so the rates given here are risk free rates ( ). The one-y ear bond matures one year from today, the two-year bond matures two year from today and so forth.

Immigration in Lebanon

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A Strategic Brand Management

A Strategic Brand Management According to the book Strategic Brand Management by Kevin Lane Keller (2008) , Identifying and creating brand positioning is the first and important stage of the strategic brand management process. Positioning effects on a founding benchmark and works toward building a strong brand by helping marketers to design, to implement, to solidify or to sustain brand associations. Aaker (1991 ) also supports the idea that the brand position can offer clear direction to a communication program implementation. To establish the position of a brand, the concept of it should be clearly defined. Criticism of the literature reveals numerous meanings and clarification of positioning. Sekhar, (1989) states that the concept of positioning developed from research on market segmentation and targeting. Kotler (2003, p. 308) defines brand positioning as â€Å"the act of designing the company’s offering and image to occupy a distinctive place in the mind of the target market. The end result of pos itioning is the successful creation of a customer-focused value proposition, a cogent reason why the target market should buy the product†. Arnott (1992, 1993) parallels the idea by stating that positioning is, correlated to the rivalry, management attempt to adjust the tangible features and the intangible views of a marketable contribution. Furthermore, Kapferer (2004, p. 99) emphasises on the distinctive characteristics that make a band different from its competitors and alluring to the public. In addition, Sengupta (2005) enhances the term of perception that indicate the core of the brand in terms of its functional and emotional benefit in the decision of customer. Also, it is shown as points in perceptual space and thought up a product class. In essence, Keller outlines the idea behind the concept of brand positioning that involves four aspects; target market identification, the nature of competitors, the ideal of points of parity, and the points of difference. Identifying target market is crucial part in establish a robust positioning because dissimilar segment may have diverse brand knowledge structure or perceive the same brand in different way vary by own attitudes, beliefs, and experience. The target customer can be classified as descriptive (customer-oriented), which associated to the kind of customer or behavioral (product-oriented), which related to how customers consider of or utilizes the brand or product. The behavioral side is more significant to comprehend brand position due to stronger strategic implication. Decided type of target can, then, implicitly sketches the nature of rivalry because businesses usually target that same segment in terms of category membership. Once the appropriate competitive frame of reference for positioning has been formed, the correct points of parity (POPs) and points of difference (PODs) are able to make. Point of parity (POPs) are characteristics or benefits that may mutual with other brands separated into two forms: category and competitive. Category point of parity is a standard association expected by customers to show the credibility of companies. Competitive Point of parity are associations designed to abolish rivalry Point of difference. It is used when firms want to break even the area that competitors are attempting to seek an advantage and achieve advantages in some other areas. To illustrate, to enter in the fast food industry, there are key elements that help customers to label a brand as a fast food restaurant such as quick service, good taste, and low prices. These are fundamental features and benefits of product category that it belongs to. Point of difference, on the other hand, comprises of strong, favorable and unique associations for a brand based on attribute or benefit association in the mind of customer. It is associations that customers believe that they couldn’t find in the competitive brand. It is considered by functional basis, performance-related consi deration and imagery related criterion, which are competitive strengths and insight about consumers’ motivations. Reeves and Ted Bates advertising agency (1950) also support the common concept of PODs in terms of unique selling proposition (USP) that promoting use to compel customers to buy product that competitors could not race. For instance, fast-food chain Subway uses the healthier benefit as PODs compared with other quick-serve restaurants that supported by less fat attribute. Nike, for another example, claim of superior performance in athletic shoes.

Analysis of previously gathered individual presentation data Statistics Project

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Global Enterprise and Innovation - Assignment Example The overall idea is to understand NIS deeply and clearly. There are many interesting features that one would notice in United Kingdom’s business environment. If we look at the latest analysis of this country, we will see that it has attracted many foreign investments. â€Å"The UK is the second largest single destination globally for US investment and in 2011 accounted for 26 percent of all the US investment stock in the European Union.† (UKTI, 2012). The economy is doing really well for the past few years and inflation is in control of the Bank of England, which is responsible for setting interest rates. Businesses are flourishing well in UK’s industrial arena because the exchange rates are relatively stable. Currency plays a significant role while operating in foreign countries. Companies operating globally have to keep an eye on the exchange rate each coming day. Imports and exports are doing well in the country. There are more exports than the imports, which is the main reason behind earning foreign income. UK is also working on lowering the corporate tax rates so that more and more businesses could be attracted into the country. Recently, UK has lowered the tax rate up to 3 percent. The employees of this country are satisfied employees because they pay less social security contributions as compared to other European countries. Entrepreneurial businesses are on the boom. Even a fresh graduate can start up a small business easily here because of the favourable market conditions. For example, running food truck is very simple in UK. On the whole, setting up a business in UK is very fast and easy. One can set up his business and get himself registered in this country within 24 hours, but it all depends on what kind of business he wants to start and in which state. There are many business advisors within the country who can guide you well about this. They can update you with the current status of businesses and the related industry,

Health Insurance Coverage Term Paper Example | Topics and Well Written Essays - 750 words

Health Insurance Coverage - Term Paper Example In the absence of universal healthcare, which is the prevalent norm in neighboring Canada and other developed countries in Europe, the US faces peculiar problems in the delivery of healthcare services’ as the latter are provided in majority by the private insurance sector and employing agencies. President Barack Obama’s latest ‘Healthcare Reform Bill’ endeavors to bring healthcare services within access of the poorest sections’ of American society, and its provisions already claim that due to its enactment as Law, healthcare services will be available to 95% of the US population, at the same time unburdening the private companies from healthcare expenditure for employees’ insurance (Gabbatt, 2010). Another reform, the ‘Young Adults and the Affordable Care Act’ has been aimed at unburdening families and businesses by allowing young adults to stay on their parents’ healthcare plans until the attainment of 26 years age (HHS, W eb). In addition to the abovementioned national policies on healthcare, individual states are streamlining their healthcare infrastructures in order to make it more accessible to everyone through advances in information technology (IT) and state policies’. ... Such exchanges are speculated to assist individuals and small employees in selecting tailor-made private health plans for individual needs from a single unified platform. The State of Oregon has been awarded an amount of $ 48,096, 307 in order to facilitate the implementation of such an exchange which will cater to the 516,000 Medicaid clients and 277,000 commercial insurance consumers to enroll for health coverage according to the Oregon Health Authority (OHA) (Irving, 2011). Similarly, the Wisconsin Department of Health Services now has access to $ 37, 757, 266 to implement an exchange which will assist state residents to access state based subsidized and non-subsidized health plans from a single platform. The Wisconsin Health department anticipates that this Grant will allow it to make available such services to 35% of the State’s hitherto non served population comprising of 160,000 individuals in the non-group market, a million employees of small businesses, and 770,000 pa rticipants involved in the State’s BadgerCare Plus and Medicaid Programs (Irving, 2011). In Massachusetts, the University Medical School has been awarded a sum of $ 35.591,333 in order to facilitate an IT exchange which will cater to a multi-state consortium involving Connecticut, Maine, Rhode Island and Vermont, along with the parent state in making healthcare plans more accessible and individualized for the residents (Irving, 2011). Voters in Oregon had already disapproved a movement to implement a Canadian-style universal healthcare plan being propositioned in 2003, fearing huge taxes and expressing mistrust in the bureaucracy, which would have assumed enormous powers in case a universal healthcare system had been implemented (Korcok, 2003).

Includes limitations and recommendations for further research Essay Example for Free

Includes limitations and recommendations for further research Essay The Chinese banking industry has a prime role to finance the growth of China by adapting global best practices. Banks as HSBC are financing the growth across a wide swathe of people, businesses and nations. The Chinese Banking industry is rapidly adapting to the international financial mechanisms, adopting the best practices of many banking activities such as internet and mobile banking, increased customer focus and bundling of services. Bank of China is providing a high level of service to its customers, which has been so accepted by two thirds of the populace that it has served. However there are number of areas in which there is scope for efficiency and better customer service where low scores in some case of a mere 30 % plus have been indicated which should be a cause of concern for the management and specific areas as indicated by the research need to be addressed. The Bank of China will have to invest greater technological as well as management resources in enhancing its internet banking model to satisfy the customers, provide timely and efficient services. Since large quanta of customers are likely to use the internet in the future, investment in this critical resource will prove to be greatly beneficial to banks. HSBC on the other hand has provided a good model of internet banking which other banks could well emulate. The trend is also to induce customers to go on line and use the communication enabled services on offer including mobile and internet banking. A key facet which is noticeable in HSBCs services is bundling of personal services with travel insurance, travel money and even airport parking all into one large group and providing discounts on all three to varying degrees thereby adding to the convenience of the customer as well as enabling the bank to easily service him. China’s banking sector is set to see two major challenges which will be faced by banks as BOC. The first which would be obvious from the study is the threat of foreign banks such as HSBC which having a better experience of providing customer friendly services and with an ability to introduce innovative products which will be able to attract a large portion of the high value and business clientele in the country. (BOC Global Offering, 2006). This is likely to see greater increase with China’s accession to the WTO. In the beginning of 2007, foreign banks would be conducting commercial banking in foreign currency as well as Renminbi without any limitations of locations. (BOC Global Offering, 2006). The Chinese government is also encouraging the entry of foreign participation in the finance sector, particularly related to automobile financing and also in reform and restructuring of the financial institutions. (BOC Global Offering, 2006). The other challenge identified is the demand for high value products which can enable growth of economy as well as reduce the risk such as investment banking and insurance. The need will also be felt for products relating to asset management. These could also extend support for underwriting during mergers and acquisitions and financing and securitization of projects. (BOC Global Offering, 2006). However as a competitive business entity, HSBC is focusing on the perceived growth areas such as credit cards and it is said to be teaming up with the Chinese Bank of Communications to provide credit cards to the large majority of Chinese who do not own one thereby creating vast business opportunities. (Schuman, 2006). The Bank of China could exploit such a strategy while at the same time fulfilling its social obligations in personal banking for the less privileged. A survey of the issues covered in the research will indicate that the lead banks of China are well set to undertake this challenging task of providing services of a global standard. An increased interaction with global banks as HSBC will prove beneficial for BOC to attain its ends as stated in its vision of a, â€Å"Market-driven, Client-oriented, World-class Financial services institution, a robust corporate governance structure, capable of delivering outstanding performance over a long term. † (About Bank of China,. 2006). There were a number of limitations during this research; first of all, the number of respondents to questionnaires is limited, because it is difficult to collect information from large number of consumers due to constraints of time and resources. Secondly the subject being of a contemporary nature the response of the bank staff is restricted to the stated company policy. As also there is limited research material in terms of reference books on the specific subject, thus there has to be reliance on sources provided by the two banks as well as journals and the internet. This limitation might induce some error in the research, however the researcher insisted on a precise approach, therefore the results of research are reliable. The Chinese banking industry provides a number of areas for further research. Detailed research can be undertaken on the impact of WTO on Chinese banking industry. In addition research on the role of the central bank in China in supporting financial autonomy and greater growth can also be undertaken. Adoption of best practices by other state banks of China could also be another area of study. References 1. About Bank of China. 2006. http://www. bank-of-china. com/en/common/third. jsp? category=ROOT%3Een%3EInformation+Center%3EAbout+BOC%3EAbout+Bank+of+China. ( 22 August 2006). 2. Agent. 2006. http://www. bank-of-china. com/en/common/third. jsp? category=ROOT%3Een%3ECorporate+Banking%3EOther+Services+in+Money+Management%3EAgent+Bank+Business. (23 August 2006). 3. Assurance. 2006. http://www. hsbc.co. uk/1/2/business/insurance. (26 August 2006). 4. Bancassurance, 2006. http://www. bank-of-china. com/en/common/third. jsp? category=1099361248100. (23 August 2006). 5. BOC Global Offering. 2006. 202. 66. 146. 82/listco/hk/boc/prospectus/pro060518. pdf . (26 August 2006). 6. BOCI. 2006. http://www. bank-of-china. com/en/common/third. jsp? category=1099540300100. (25 August 2006). Cantrell, D. C. (n. d. )) Alternative paradigms in environmental education research: The interpretive perspective.

Philosophy and Socrates Essay Example for Free

Philosophy and Socrates Essay SOCRATES THE PHILOSOPHER Socrates is a noteworthy and important historical figure as a philosopher, because of his and his pupils influence on the development of the philosophical world. His teachings, famous arguments, and ideas began the outgrowth of all later western philosophies. Born in 469 BC just outside of Athens, Socrates was brought up properly, and thoroughly educated. He was raised as most Athenians; developing both physical and mental strengths. Socrates then went on to learn from Archelaus the philosopher. Here he studied astronomy, mathematics, and was introduced to philosophy, which was a new concept at the time. Archelaus taught of explanations for the world with a scientific approach. Socrates, however, turned away from this idea and created his own. He decided that instead of trying to understand the universe, a person should try to understand himself. To express his philosophy, Socrates spent his days in the marketplace of Athens, telling people of his ideas. His voice was heard, and he was soon declared to be the wisest of all men. Socrates was skilled in the art of arguing. He developed a method by which he would win every debate. His favorite hobby was going to the marketplace and debating philosophical issues with other men in front of an audience. The result of these debates was that Socrates embarrassed the wise men in front of the crowd. This caused many to dislike him. After being named the wisest man, Socrates attempted to prove that this was not true. He debated with many men in the streets. These debates are some of his most famous argument methods. He started the discussion by stating that he knew nothing. As a result of the debate, he was able to prove that although his opponents claimed that they were wise, they knew nothing either. Socrates concluded that he really was the wisest man because unlike the others, he knew that he knew nothing. Socrates had many ideas and philosophies concerning issues other than the knowledge of oneself. These included explanations of the universe, the belief in god, and lifes goals. Other, earlier philosophers, had many different interpretation for the makeup of the world. Some believed that it was made out of numbers, others thought that it was made of a single substance, or many different substances, while still conflicting philosophers theorized that everything was formed out of atoms, and even illusions. Socrates had his own, different ideas. He believed that the world was made of forms that are not within the reach of our senses, but only of our thoughts. This means, for example, that when we think of characteristics such as roundness, we only picture ideas of it like a ball or a wheel. Therefore, he assumed that we only understand specific things that participate in our lives. In his search for the inner truth of oneself, Socrates theorized the explanation to the question of what the goals of life are. He concluded that everyone tries to find the meaning of happiness and goodness in their existence. This is the purpose of life. However, true happiness comes in many forms and is disguised in a way that people spend their lives looking for goodness, but finding only the evil in which it is concealed. The only way to discover true happiness, goodness, and the right way, is to fully understand oneself. Socrates did not believe in the Greek gods or religion. He had his personal view of god. Socrates felt that there must be some form of divine power because everyone seemed to believe in some kind of god and religion. He also believed in a sort of immortality. He hypothesized that there was an afterlife. His explanation for it was that people who had achieved goodness in their lives knew where they were going afterwards, and that evil people tried to ignore the fact that immortality existed. He preached that the soul was a persons true being, and that our goodness in life reflected on the goodness of our souls. According to Socrates, each individual should try to make his soul as moral as possible so that it can be like god, which will allow the achievement of an afterlife. Debating in the marketplace of Athens was not Socrates only daily activity. He also taught his philosophies to a group of students in a small classroom. These students were much like disciples. They respected and followed in the philosophies of their teacher. Socrates most famous pupil, Plato, went on to become a great philosopher like his mentor. Socrates lived through and fought in the Peloponnesian War. After Athens defeat, the democracy was replaced by a tyranny. This did not bother Socrates much because his belief in government was a rather simple and apathetic one. He thought that no matter what kind of government subsists; it should be followed solely because a form of law and order must exist in a society to control it. One of the tyrannys leaders was a former pupil of Socrates and hated his teacher. He tried to make life harder for Socrates by banning the t eaching of philosophy in the streets. Socrates ignored him. In response to this, the tyrant tried to kill Socrates; but the tyranny was overthrown right on time to prevent this. A new democratic government came into power, the leader of which, Anytus, also hated Socrates because his son, who was the philosophers pupil, turned away from the familys business to become a philosopher. Anytus had Socrates arrested on charges of corrupting Athens young and turning them away from Paganism, the Greek religion involving a belief in many gods. Anytus announced the death penalty as a punishment for this crime. It was obviously an outrageous sentence for a crime that was not even committed. Socrates was brought before a jury and instead of using his debating skills to defend himself, he did nothing in his own defense because he was convinced that the entire trial was a joke. The jury voted on the death penalty. Now Socrates had a chance to appeal to the court. He was entitled to suggest forms of punishment other than death to satisfy his crime. Instead of proposing a reasonable penalty, Socrates suggested ridiculous ones which angered the jury; causing them to vote on the death penalty once again. Socrates did not seem to mind at all. He was sent to prison and lived their surrounded by his friends and disciples for his last few days. His life ended by drinking hemlock as his friends cried at his bedside. Only after this scandalous death, did all of Greece realize what they had done; that they had killed one of the greatest philosophers of all time. Socrates life achievements were vast. He introduced new ideas and theories into the philosophical world. His pupil, Plato, went on to influence all of the western worlds philosophical development. Socrates began the evolution of philosophy throughout the world. He took the first step toward advancing modern philosophy, as we know it. His theories and ideas were a whole new concept that helped progress the western philosophy through all of later history. In conclusion, Socrates historical importance is great, due to his extreme influence on the evolution of the worlds ideas of philosophy. Even though Socrates never made written records of his work, his finest and most successful pupil, Plato, recorded much of his teachers accomplishments and deeds. From these history has learned so much as to be able to advance and heighten its entire philosophical viewpoints; and until this day, learn from the ancient philosopher, Socrates. INTERVEIW WITH A PHILOSOPHER: Mark ? Socrates, you were raised and educated in many different fields, why did you decide to spend your life as a philosopher? Socrates ? It is true that I have been educated in the arts, literature, and gymnastics as a youth; but in my continuing education as you may already know, I was taught by Anaxagoras, the famous early philosopher. His theories were not ones with which I would agree; such as those stating that all things were made of tiny substances which contained a little of everything, that the sun was a hot rock, and that the moon was made of earth. For these teachings, he was banished from Athens. Nevertheless, he was a good teacher and allowed me to realize that my philosophies were going to be antiscientific and quite different from his. My following philosophical teacher was Archelaus, with whom I studied mathematics, astronomy, and philosophy. I knew that my opinions and theories were strong, I had performing and arguing skills, and my ideas would consist of principles rather than sciences. The simple lifestyle of the philosopher appeals to me. I enjoyed the unusual behaviors that I associated myself with. All that really interested me was the great mysteries of philosophy, and the questions of knowing oneself, which I devoted my life to learning and teaching. Mark ? Your teaching was remarkable and much can be learned from studying it even after your death; why is that you never bothered to record your works for later generations? Socrates ? Many have asked this before and for quite obvious reasons. Most other noteworthy historical figures did keep a record of their works ever since the invention of written language, yet not one of mine exists in writing. I do not exactly know the reason for this. Whether there are records of my work or not, does not matter. I will forever be remembered by my loyal pupils, the Athenian population, and the world. Furthermore, nothing I ever said was of too great importance. And to tell you the truth, I never really wanted to take the time to keep useless records. That nonsense did not concern me nearly as much as most of my other problems as a philosopher. I had to make money somehow, to support my wife and three sons. As you might have guessed, being a philosopher does not exactly bring you riches. One of the reasons I began teaching was to make money. Also, I had to deal with many peoples constant hatred of me, mainly due to my victories in debates against them. Some, with high political positions, even wanted me dead at points of my life. And one even succeeded. So, you see, no matter how simple and easy going my life may seem, there are quite a few difficulties attached to it. Mark ? Your trial and death are quite interesting and famous historical events. They have been interpreted by many and confused some; what caused you to make such drastic and unusual decisions, the consequence of which you knew forehand? Socrates ? This I am aware of. As a matter of fact, some even claim that I was mentally ill, and blame that as the cause for my actions. This of course I deny. The truth includes a mixture between my philosophical beliefs and the thoughts that have occurred to me during my last days. I always believed that there is an after-life. And that must have somehow influenced my decisions. Even though the religious part of this came to me only afterwards. At first many others and I thought that this ridiculous trial was an obvious hoax. Who would have thought that such a crime, which I was evidently not guilty of, be punished by the death penalty. I fooled with the court. They on the other hand were quite serious about it. In the last days, I realized that there was no way out. True I could have argued with the court and won. I could have escaped using the plan devised by my dear friends. But since there was a high-ranking leader who wanted me dead, it was going to happen no matter what. Furthermore, my governmental beliefs stand true in all situations; the law should be followed and that is all. There was not much I was willing to do. After some thinking, I decided to go along with the law, after all, I had lived a happy life. One that I was proud of living, no matter how unusual it may appear to others. I was an old man of seventy. I found and understood myself, and had achieved happiness and goodness. There was nothing more that I desired. I knew what was waiting for me after death and was ready for it. Word Count: 2066.

New Social Media Vs Traditional Media Media Essay

New Social Media Vs Traditional Media Media Essay Can you spot the difference between new media and traditional media? The traditional media consists of prints and broadcasts such as newspapers, magazines, radio broadcasting books and CDs etc. On the other hand, social media, which grows with technology, includes the use of Twitter, social networks as well as blogs -using internet as a platform. Not only has advanced technology facilitated internet consumption, it has also promoted new media to the extent that majority now believe new media will one day succeed traditional media. New media has the foundations of traditional media in serving the same purpose, similar procedures in gathering information and sharing the same audiences; however, it may succeed traditional media due to the differences in the freedom of speech, coupled with social networking services entitled to users and the hastened speed broadcasting. The purpose of new media is very much built on the traditional media. Both new media and traditional media have the same objective to keep you informed. It does not matter if you read a newspaper or magazine, or even webzines, also known as e-newsletters. Both media platforms serve to provide news and articles to inform you of the happenings around the world. Books you find in libraries and online communities like Wikipedia offer you bits of facts for your general knowledge, providing basic knowledge on certain topics. We are also alerted about fashion trends through both media platforms. The television programme, Entertainment Channel, is no different from the fashion website, Chictopia, in providing insights to the latest fashion trends. (The Peoples Fashion Destination Chictopia, 2010) Besides global news, the information both new media and traditional media provides extends to advertisements as well. Both media platforms provide advertorial information for readers of prints, br oadcasts and the online community. When you flip through a consumer magazine, you will notice advertisements on jewellery, cosmetics and even clothes on different pages. Similarly, banners and pop-ups on various websites you visit are methods of advertisements on the internet. Even though advertisements account for 70% of the revenue produced by newspapers, there has been a declined in the printing of newspapers due to lack of advertisements. (G. E. Belch M. A. Belch, 2004, p. 392) The truth is technology has made internet a better alternative for marketing and advertising. Thus, companies tend to use internet platforms over print or broadcast media to achieve branding. Based on website Clickz, each one of us receives an estimate of 5000 commercial messages daily. (Massey, 2010) However, it is impossible to view 1000 advertisements from the number of newspapers or magazines that we read, inclusive of advertisements on televisions and radios. Therefore, new media might exceed old media with the use of technology, as can be seen from the ease of advertising. Another similarity in traditional media that extends to new media is the tedious method of gathering information, drafting and proofreading. In order for the newspaper readers and e-newsletter viewers to obtain only the correct news, newspaper companies engage reporters, journalists and editors in order to print a factual article without mistakes. (U.S. Bureau of Labour Statistics, 2010) Similarly, to uphold reputation as well as to ensure that the electronic sources tally with the printed media, a piece of article has to go through the same procedure in order to be published. (Simmons, 2009) The strenuous practice of gathering information is also used in broadcast media to produce drama serials and videos of new media. Television programmes and videos posted online require many takes and much editing for the final product. (Duncan, 2010) Television series as well as short clips online from BBC News, National Geographic etc, have to go through a long process of inspection before it i s ready to be broadcasted on air or uploaded on their websites. In an interview on George Negus Tonight, it was estimated that a television advertisement may take up to three months, requiring 100 people. The process includes generation of concepts, pitching the idea, developing a script and writing a storyboard before filming can take place. (George Negus Tonight, 2003) Despite the problematic procedures, technology has smoothened these processes, making new media superior to old media. An example would be Google Docs which allows users to share their work online and make revisions together with others at the same time. This saves time as a report can be completed faster. However, this requires internet as a platform and tends to promote new media, emphasizing its functions over old media. Both media platform serve the same target audience be it online, in print or broadcast. As mentioned, each form of media has an objective which is to disseminate a particular message and keep the masses informed. However, for those whom purposes resemble each other, they have same target audience to cater to and thus, garnering the same audience. Readers of fashion magazines such as Style or Vogue are most likely to be the avid viewers of fashion sites like Lookbook. In a similar way, readers of forums and the home section of local newspapers are most likely to be blog-hoppers. Furthermore, ardent fans of the broadcast media such as television and radio are likely to be audiences of new media such as Youtube. If you find yourself watching music videos on MTV, you are most likely to subscribe to Youtube or Hulu channels like Vevo that plays music videos online for fans. Both new media and traditional media serving the same purpose would therefore engage the same target audience. In addition, technology has made replaying, fast-forwarding and rewinding of videos much easier. Imagine trying to rewind the music video that you are currently watching on MTV, you would probably have to purchase the pay-per-view offer, also known as On-Demand. The next best alternative would be to watch the video on Youtube and have it replayed over and over again, or just that particular segment that you like. The ease of video watching can be seen from the 2 billion views daily based on Youtube statistics. (Website Monitoring, 2010) Such flexibility in technology generates more audience towards new media even if both media platforms were providing the same video, song or news article. Although new media shares similarities with traditional media, new media appears to be an improved version of old media. Out of the many differences, an obvious one is the magnitude in freedom of speech exercised in new media versus traditional media. Before the print media is disseminated to the masses, the editors would have vetted and censored, following strict laws that applies. In Singapores radio broadcasting network, deejay duo also known as The Muttons were suspended due to their participation in No Bra Day. It was an activity that required young female models to remove their bras in the shortest possible time. The video taken in the studio was posted on YouTube and the station was fined due to inappropriate content. (98.7FM Encyclopaedia Topics, 2008) On the contrary, it is almost impossible to censor all articles or advertisements on the website; only users in social media can be banned. Youtube reports hundreds of thousands of videos are being uploaded every day. (Youtube, 2010) With videos being uploaded at such an alarming rate, it stresses the difficulty in censoring contents. Undeniably, technology has improved almost every aspect of media development. Its failure to make censorship across the board available, however, allows netizens to speak up. Yet, this apparent freedom of speech which is only made available through internet appears to promote opposition of various political stances and an eye-opener to liberal views. Especially with people more acceptable of liberal mindsets, freedom of speech is censored in old media will result in technology will garnering more supporters of new media. Although both media platforms serve to keep you informed of news, social media has an added feature that allows users to network. With traditional media, there is no room for networking. You would have noticed advertisers leaving their contact number. However, you would only contact them to only engage or enquiry about a deal. Seldom would you notice an ad which purpose is to look for a friend or a wife. More importantly, you would not publish your address for snail mails or provide your contact number for interested members of the public to call you. There is no opportunity to discuss or socialised since everything is publicised. On the other hand, based on references gather by the website Pingdom, there are 350 million people on Facebook as of January 2010. (Pingdom, 2010) Facebook, similar to Friendster has not only made social networking easier as users can add friends whom share common interests but has also improved the search for long lost friends. Furthermore, there is a priv acy setting which you can adjust, allowing you to provide information to only people whom you want to. This allows you to form a connection with a stranger before committing in a friendship. New media also offers interactive activities such as game communities or internet chat relays. Through these game communities, players can gather teammates for online gaming and establish stronger relationships with strangers. Whereas chatting alone helps introverts make friends without having to meet people in the real world. (Whats New Media?, 2010) Although these contributions by technology are seemingly beneficial, social networking through new media has increased crime rates, often acted against minors. Paedophiles are known to use social network sites to prey on victims. They are able to do so as they can remain anonymous or adopt false personalities that would not be validated. (William-Thomas, 2009) Perhaps, social networking is the only bane of new media which most internet users embrace as reason for new media to succeed traditional media. Lastly, another improvement can also be seen from the extremely shortened publication time for new media. Publication time differs from the aforementioned methods of gathering and refers to the time it takes for the end product to reach out to the masses. As mentioned, it takes reporters, journalists and editors to create an article on the newspaper, making the process of getting a written article printed very long. Even if the information is ready for dissemination, the newsletter has not been printed and thus cannot be distributed. Furthermore once erred, it takes half or a day to correct the error and send an apology letter for the mistake or post an article the next day. If a mistake is made on a newspaper article, the journalist has to prepare an apology letter or a new article for the paper tomorrow, informing readers of the errata. On the contrary, with new media, it only takes the author a click of the button to have any information disseminated around the world on the World Wide Web. Although there are specific rules to follow if a reputable site makes an error, it does not require more than a day to have its entry edited on the site. When an error is made, the author can simply press edit and post again. Or in Twitter, you can simply delete your Tweet, another name for your entry, and post again. The convenience can be experienced when you upload a video on Youtube. After all the tedious filming and editing, all you need to do is to click on your computer screen is the word upload. Similarly for online news articles, a simple click is all it takes to have it published on a website. Moreover, the internet has become more mobile with technology and people around the world are choosing to read news online instead. If you do recall the 2007 Burmese anti-government attacks, had it not been for the internet, history would have repeated and we would have been misinformed of the total death toll, similar to the uprising in 1988. (Sai, 2008) The use of the internet through blogging of pictures taken in Burma allowed traditional media in other countries to cover the attacks. Similarly in todays context, information is readily available to us with the shortened publication time in new media compared to old media, all thanks to technology. The new media and traditional media are similar in their purposes, procedures and target audience. However, they differ in publication time, availability to networking and censorship. Both serve to keep their viewers informed and involve tedious procedures before getting the end product. Also, serve the same target audience be it electronic or print. However, with the drastic increase in internet users, social media has minimal censorship as it is unachievable with the vast volume of websites, unlike traditional media. Furthermore, new media tends disseminate messages faster than traditional media due to the short time needed in posting. Lastly, it provides opportunities for users to socialise and network. New media has its foundations built on traditional media and definitely has improved services and caters to the generations born in the era of technology. They key success, if new media is to ever succeed traditional media, is advanced technology in internet. Although social networking through new media has increased crime rates, it is one of the shortcomings that can be eradicated. With technology, new media has definitely exceeded the abilities of traditional media as an advertising alternative and smoothened the process of gathering concrete information for news articles. Ease in obtaining information and flexibility has also encouraged traditional media followers to convert to new media. With technology backing new media, is it possible traditional media will one day cease to exist?

Education Essay -- essays research papers

School the great Equalizer In his essay, “I should have never quit school';, D. DeMott rejects the myth that all social classes receive the same education. He supports his essay by denying that the stating line is the same for all students in the American educational system. DeMott begins his essay by giving us an example of the mythological belief that school is a fair institution where everyone begins at the same starting line. Next, DeMott gives general ideas about the American publics denials, and the educational system, provides for students. To support these denials DeMott gives us some assumptions of the general public’s beliefs on education.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The first assumption is about intelligence, an individual is college material, intellectual because he/she was born smart and it’s up them to take advantage of it, and that teachers see this genetic trait. According to your intellectual level the school system will see this and place you in the proper educational training which best sues you.   Ã‚  Ã‚  Ã‚  Ã‚  The next assumption is that your community motivates lower class students to attend institutions of higher education by providing them with financial assistance. The difference of the social economic level of the community abilities to provide for the st...

Analysis of The Unknown Citizen by W.H. Auden Essay -- The Unknown Cit

Analysis of The Unknown Citizen by W.H. Auden â€Å"The Unknown Citizen†, written by W.H. Auden during 1940, is a poem where the speaker, a representative of the state or government, directs a speech to the audience about a monument being erected for a citizen. Written in free verse, although using many couplets, this poem is a poem that describes the life of a certain person through his records and documents. This citizen is portrayed as a normal and average human being who is being honoured for being normal. Auden, however, uses the fact that the state is honouring someone for being normal to criticise his society. By emphasizing certain grammatical conventions and the structure the author explains the true meaning of this poem, and the unidentified citizen. â€Å"The Unknown Citizen† is a poem that directs an epitaph to a common man in the country. In honour of the monument for the citizen, a speech is given as a tribute to his doings. This man is depicted as a man who obeyed the law and never did anything incorrect, and he was known for taking part in many government handled activities. He served his duty in War, worked in Fudge Motors Inc., had a Health-card, and never caused any sort of rebellion towards the state. This citizen had an overall average life, where he was married and had five children. Auden is writing about the state erecting a monument in honour of this citizen’s doings as a great citizen in the community whom represented many other people in the country. This poem might seem to be very direct and clear; however, the author does not literally mean what he wrote. The title, â€Å"The Unknown Citizen†, is a reference to countries that erect a monument for the â€Å"Unknown Soldier†; this is an honou... ...aditionally sound according to the government, and since the Union is â€Å"sound† it is not really a Union. The sense of this poem depends greatly upon the tone, because literally the poem has a completely different connotation than it does if u considers the tone. The poet has a critical attitude towards this subject and it is clearly demonstrates once the reader analysis the poem. W. H. Auden is a poet who portrays his emotions and feelings through his poetry, and in this certain poem, â€Å"The Unknown Citizen†, Auden criticises the state. He uses allusions and capitalization to make the reader understand the actual meaning of the poem and by adding the final couplet in the poem, Auden reaches tries to get the reader to think. Auden leaves the reader hanging and makes them think; is our society and government really totalitarian? Or is this how our government will be?

Pride and Predjudice - Money and Marriage :: English Literature

The novel Pride and Predjudice is based on money and marriage. Discuss. The novel reflects society at the time in which it was written, womens powerlessness in a patriarichal society. Men dominated all walks of life and expected women to attend their every need. In order to secure a "safe future" for themselves women expended a lot of time and energy learning skills with which to attract a man of substance. Indeed Darcys view was 'A woman must have a thourough knowledge of music, singing, drawing, dancing and the modern languages' an extremely tall order for any one. The major themes of money and marriage are indeed married together in the opening lines of this novel 'It is a truth universally acknowledged that a single man, in possession of a large fortune must be in want of a wife'. During this period of time moral themes such as love and respect did not play a pivotal role in marriage. Charlotte Lucas remarks, 'if the dispositions of the parties are ever so well known to eachother it does not advance their felicity in the least and it is better to know as little as possible about the defects of the person with whom you are to pass your life'. In this day a nd age a very strange notion indeed. Charlotte Lucas did not believe that she deserved to be happy in a marriage. When she married Mr. Collins they were strangers and remained so. Marriage in the early nineteenth century was an economic contract and in the case of the Bennet girls a means of financial security and social acceptability. Therefore Mrs. Bennets life revolved around her daughters security, 'The business of her life was to get her daughters married' and, 'A single man of large fortune what a fine thing for our girls'. Mrs. Bennets own marriage was not a happy one. Mr Bennet found retreat in his library. When he first married he was 'captivated by youth and beauty and that appearance of good humour had married a woman whose weak understanding and illiberal mind, had very early in their marriage put an end to real affection.. all his views of domestic happiness were overthrown..' A womans entire social,emotional and economic future depended entirely on how wealthy her husband would be. So time spent in pursuit of a wealthy mate was a matter of survival in the upper class. If you happened to like or love that mate it was a highly beneficial bonus. 'Happiness in a marriage is entirely a matter of chance'. It is sad that three of the marriages in the novel ended up as unhappy unions. The Bennets marriage was based on physical attraction.

Creating Effective Learning Environments for Learners Essay

Introduction Environment is all the physical and social conditions that surround and can influence a person’s health. A learner’s physical environment on the other hand include the class surrounding like locker ,chairs and other items that are physical found either inside or outside and around the class. Social environment refers to the immediate social setting in which people live or in which something happens or develops. It includes the culture that the individual was educated or lives in, and the people and institutions with whom they interact. An urban area is a town, a place that has developed in the various sectors including infrastructure and other institutions hence noise and other destructible deeds become order of the day. Due to scarce land for building, schools end up being built next to pubs or even on top of pubs. In defining an effective learning environment it’s important to first consider the uniqueness of learners and how they learn. Physical environments a) Space and materials The teacher should take into consideration who should be arranged in the rows and columns. The class arrangement matters a lot for effective teaching to occur. First, students should be arranged facing the teacher for easy monitoring as the teacher is teaching. Secondly, the teacher should now all the students individually and there by now the different problems the learners have which might help him/her to plan the class. For instance students with eye sight problems should sit where they are comfortable in order to understand the teacher well as suggested by Roger Hiemstra. Siegel has found that there is direct relationship between architecture and collaboration of teachers. The arrangement of space has immediately and far reaching consequences for teachers. The arrangement of space has immediate and far reaching consequences for teachers’ ability to effectively and efficiently accomplish daily activities; the formation of social and professional considerations of the spaces where teachers meet and collaborate is just as important as the design of classroom. Desirable designs include having friendly environment and agreeable areas, supervised private areas for students, as well as public areas that foster a sense of community with particular attention to the color used. A good class room should be inviting, have the necessary learning material readily accessible, eliminate or cover destructing features either inside or outside the class. Class concentrations should be avoided because it encourages laziness among students due to lack of proper supervision by the teacher. Therefore during class arrangements, at least there should be space where the teacher can move around and monitor the learner’s progress. Also work groups can be convenient for those learners that want to indulge in group work and discussions. b) Sitting position and types of furniture Knight and Noyes performed a study on class furniture in relation to children’s behavior and sitting positions between traditional and ergonomically designed furniture. They found that children showed a significant improvement in task behavior and marked change in sitting positions following the new designed furniture that makes students to sit upright. In relation to sitting positions, Linton e tal(1994) didn’t observe any different sitting position in the children in their study using ergonomically designed furniture was more comfortable. Chairs that are not upright encourage loss of class concentration hence leaving room for poor class concentration. c) Use of visual items to enhance better understanding The benefits arising from use of visuals for instance chats illustrations and others has provided multiple opportunities for children to process, reflect on and integrate information presented in a story since the spoken language is fleeting in comparison to a visual representation of the same material according to Gersten and Baker. Obviously biology students can’t be taught the topic on bones without even seeing a sample which there by illustrates visual items enhance understanding hence facilitate effective learning. A visual chat make learning more interesting and makes learners understand better what is being taught. d) Temperature and air quality Earthman rates temperature, heating and air quality as the most individual elements for student achievement in learning. A class that is well lit, warm when environment is cool or cool when it is hot is more suitable to accommodate effective learning. Furthermore if the classroom is up to date and current technology is available, the student will keep pace with their peers who have access to this equipment. Where classes are positioned in a school matters a lot. Class next to staffrooms where teachers crack jokes can distract the students concentration and learning in class. Classes should be situated in areas away from paths that distract pupils. An example is a class next to the main road leading to the main gates will always have cars; people and this will hinder effective learning because students will always be staring at anything passing outside instead of listening to the teacher. Police cars that enter in school will freak out students because they will always be curios on wh at is going to happen. e) Lighting There is a considerable amount of literature relating to light and classroom. In relation to student suitability to learning, day light is seemed to have positive effect to the learners studying environment which is suitable for learning. However day light source can’t be had in class because it’s impractical. Benya suggested that for lighting to be effective, day light must be supplemented automatically by controlled electric lighting that dims in response to day light levels. Barmitt suggests that good lighting can only be achieved by combination of direct and indirect lighting. Indoors lighting can be different depending on color and temperature its bringing and different light intensities. Jago and Tanner argue that the visual environment affects a learner’s ability to perceive visual stimuli and affects his/her mental attitude and thus performance. Knez found evidence of lighting conditions that induced positive affect improved performance. Web, puts forward various incidences of learners being hospitalized because of use of kerosene lamps which emitted smoke that is harmful to human beings’ health. Results of the smoke include irritating eyes, coughing and chest aches due to the harmful smoke. All these can be overcome by installing good electric lighting systems which somehow have lesser side effects hence enhancing favorable learning environments. f) Noise and its resolutions Noise next to noisy areas that can’t be avoided can be reduced through several measures which include: Using sound absorbing materials like carpets, under blocks, foam surfaces on carpentry bench nets in gross motor areas. Using sound barriers like carpets, upholstered furniture, grass in outdoor areas, upholster dividers and acoustic tiles also is an efficient way of controlling noise. A good school should separate noisy areas from the quite ones for instance libraries should not be situated next to the play fields. Also laboratories should be separated from the kitchens to avoid contamination of food. g) Color According to some findings, colors also affect all individuals at two levels: behavioral response and learned response. A behavioral response is a response that’s automatic, inherited and not affected by age, sex, culture, financial considerations or environment. This type of response occurs naturally; the individual is not aware of making a response for instance using bright, intense colors e.g. red to decorate an infant’s room can prevent the infant from sleeping well(Chinazzarl 1998). This is not a surprising issue as the red color is seen to elevate blood pressure according to liber man (1991) h) Teacher According to Talis, teacher’s beliefs, practices and attitudes are important for understanding and improving educational processes. They are closely linked to teachers’ strategies for coping with challenges in their general wellbeing and they shape students learning environment and influence students motivation and achievement. Talis illustrates that many studies have described aspects of teaching practice which are related to effective classroom learning and student outcomes. Close monitoring, adequate pacing and classroom management as well as clarity of presentation, well-structured lessons, in formative and encouraging feedback has generally shown positive impact in student learning achievement while teachers provide learning opportunities, these must be recognized and utilized by the student to be effective. Motivation goals and outcomes have to be taken into account as well. Also researchers agree that the teacher is responsible for creating opportunities for interaction and communication among classmates and between students and the instructor. Vitale (2010) suggests that well planned and defined discussion questions help the students to understand the course content, especially the application of new knowledge to clinical practice situation. Communication Galton et al, (1999) assumes that it is important for teachers to be able to communicate effectively with pupils, although it is sometimes less certain how this should be defined. Moos’s (1979) evaluation of classroom environment addresses this since subscales relating to teacher behavior and classroom management such as ‘teacher support’ and ‘rule clarity’, clearly involve communication. A study of disruptive behavior in a particular school (Badger, 1992) found that both pupils and teachers often explained problem behavior in terms of failures of communication, with teachers advocating more discussion and improved relationships as ways to improve the situation. Another aspect of communication is that which goes on with parties outside the school. Effective communication has been highlighted as key to the improvement of schools in developing countries by Dalin et al (1994), though in this case it is communication with government and other authorities which is being suggested. More generally, communication with those beyond the school building is an issue referred to in the education literature, but again without necessarily examining the setting that may facilitate it. For instance, in his study of disruptive behavior, Badger (1992) found that teachers often mentioned that there was a need to improve relationships with parents, while Idea (1970) argue for the importance of involving parents and the wider community in school design. Such intentions clearly involve more communication and are involved in the general issue of the school’s place in the wider community, which has already been considered. Commonly abused Drugs and learning The pub can be a source of some of the drugs like alcohol. Alcohol has many effects on students who drink too much which may include staying out late and wakening up exhausted with a hangover. As a result, they may have a number of absences and their school work may suffer. Younger children may find it difficult to get ready for school without clean clothes or a ride, as the parent is hung over or drunk. As a result, truancy, delinquency, poor school performance may be present. Underachievement, emotional distance from peers and withdrawal may be noticed. Drinking alcohol can lead to reduced coordination, slurred speech, blurred vision, slower reaction times and an impaired memory. People under the influence of alcohol have less impulse control and impaired judgment. Some of these effects are temporary while others are more long-lasting. Alcohol consumption can also lead to blackouts and lapses in memory. Long-term alcohol abuse can cause Wernicke-Korsakoff syndrome, which is a brain disorder that causes mental confusion. All this affects learners’ studies hence affecting the learning environment negatively. The American medical association recently announced that underage drinkers were found to have hippocampuses that were 10 percent smaller than non-drinkers. This matters when it comes to learning because the hippocampus is the part of the brain that is responsible for memory and learning. Because of the changes that the teen brain is going through, alcohol use can â€Å"seriously damage long- and short-term growth processes . The brain isn’t the only factor in a person’s ability to learn. The external environment also plays a crucial role in determining how much a person can and will learn. Alcohol use, especially among teenagers, can lead to social problems that can have long-term effects on learning. Underage drinking has been linked to poor academic performance and harmful behaviors such as illegal drug use and promiscuous sexual behavior. These social problems can reduce the opportunities students have to learn as they may be denied access to certain educational offerings or compromise their ability to get into schools or training programs. Alcohol use has been linked to higher truancy rates, which translate into fewer learning opportunities ————————————————- Ways of reducing drug consumption in schools: a. ————————————————- Putting talk sessions to heighten the dangers of drugs to health and school studies ————————————————- According to Bruce and David (2011), guidance and counseling should act as pre rehabilitation centers for the students because when they get to know the effects of a certain drugs to their health, definitely some group of students will change their minds and attitudes towards doing drugs like alcohol. This small achievement will later become huge because students do mostly what others do and a small change will bring an anti-drug environment which is a start to a good learning environment. Peers have a lot to accomplish in terms of behavior. The peers should be modeled to reinforce good behavior between them hence achieving positive results towards learning. Also according to Taylor (2001) students at youth level tend to give in what other youths say compared to advice given from people much older than them. Therefore an organization like the guidance and cancelling department should organize for people who are at least in a youthful age to give talks on effects of drugs. Chronicle addicts who have changed behavior due to the terrible effects of drugs can really touch some of the students and hence initiate change in behavior among the students thus fostering good learning environments in the schools b. ————————————————- Random register checks and school monitoring ————————————————- Tricks like skipping classes and ditching preps for luxury in the pub can mostly be curbed down through this strategy. Random student registers also keep students on their toes and hence this reduces class absenteeism because of alcohol and other drugs. Students who are always absent and caught doing drugs should severely be punished for them to serve good examples to the school. Therefore addicts will always be afraid of being caught on the wrong hence reducing the number of drug addicts. ————————————————- Expelling can be used to show examples of what happens to naughty behaviors. Expelled students bring their parents and hence their issues discussed by four parties which include the teacher, parent, student and school committee. From an effective meeting resolutions can be made and learners can change behavior. c. Approach of doing things that interest and occupy the students mind Charllottas, Web (2007) suggests that youth students are very sensitive people and in order to make them interact well with their environment; they should be made part of the environment. Sessions where learners are supposed to meet teachers and air out issues affecting them is crucial in helping them with the effective environment issue. To facilitate learning, an entertainment hall can be built to cater for the student’s refreshment needs hence vanishing ideas of dodging school and preps for the refreshments at the pub. Also during shows like talent shows; one can make students gain interest in wha t they are best at and this will motivate students who might not be that perfect in class and have eventually lost hope in studies. d. Putting age restrictions in refreshment areas and pubs: Jordan (2009) gave out the approach that in order to stop students from drinking, the pub should enforce certain laws and restrictions. Through collaboration between the teachers and the pub supervisors, the pub attends should inform teachers of any suspicions that students might have been seen in the pub. Also the pub should enforce laws like no underage people are allowed in the pub. At the entrance, every person should produce identity cards to extinguish adults from the school kids. Effective learning experience Building quality teaching, learning and assement environment. Building quality teaching and learning environment According to Oliver and Omar 1999, there is growing movement toward designing learning environments that recognize the communicative power of the internet to support an active and constructive role for learners. Factors influencing learning experience include the quality of learner support systems, the assumption made by learners and educators about the experience itself, the educational design and support networks for learners and educators. Considering complexity of these factors can have on learning experience, possible resolutions to these issues tend to assist and learning also, where assements task drive the learner and the technology support the learning process. Effective learning is used in the sense of bringing about change to professional practice. Investigation with teachers say that they experience were of the less effective forms of professional development. They include: * passive didactic expenditure experiences where is an overreliance on external expertise * external training events * one off training events These experiences may result in a quick fix but they do not often result in lasting change and may in fact be counter product (Carnell 1999). The less effective forms of professional development are of low complexity context free. They are single track, usually focusing on content or skills and don’t require judgment. The more effective forms are of high complexity. These take into account teachers experiences and emotions and are dependent on the particular learning and social context. They are multi track, meaning they focus on and connect different aspect of the context, development understanding, facilitate tearing and change. They require refection analysis, judgment, and dialog. Teachers need a strong knowledge base in child development which enables then to make decision regarding what activities, materials and experiences will be appropriated for children of various ages. Learners are mostly interested in the moving classical technological advancements. Books are cruci al but also computers are making big strides in enhancing the students’ learning. Bransford, Brown, and Cocking illustrate four essential elements of effective learning environments: they are learner- centered, knowledge centered, assessment centered and community centered. In a learner-centered learning environment, teachers take the knowledge and prior experiences of individual learners into account in their teaching and try to accommodate learners’ strengths and interests. This approach is based on cognitive research findings that prior knowledge is the basis for constructing all new understanding. An example of a learner-centered approach might be a social studies teacher’s asking students about their daily routine as they study the human impact on the environment and how individual actions do make a difference on a global scale. In a knowledge-centered learning environment, teachers direct learning activities toward developing students’ deep understanding. Research has demonstrated that deep understanding is necessary for learners to appl y knowledge in a given situation and to transfer it to new ones. This requires teachers to make a careful analysis of what they want learners to know and be able to do when they finish a learning activity or course and to provide students with the foundational knowledge, skills, and attitudes needed for the successful application and transfer of that learning. For example, a social studies teacher might focus a unit about the civil war on its causes and political context and to support this higher-level conceptual understanding might ask can then guide students’ continued thinking and revision strategies. The importance of this aspect of an effective learning environment is supported by research findings that students who are active in and take charge of their learning can better regulate and improve their approaches and efforts. It is also consistent with research showing that students build new knowledge on existing knowledge and that the more visible their thinking is to them, the more effectively they can modify and refine it. For example, a social studies teacher might allow students multiple opportunities to demonstrate their developing understanding throughout a government unit by asking them to create and update a concept map of similarities and differences between local and state governance. In a community-centered learning environment, students need not only to feel safe to ask questions and to reveal their ideas and difficulties they have in understanding the subject matter, but also to develop norms of behavior that contribute to successful learning in that learning environment. Research shows that social interactions and norms within a community of learners will affect how learners approach their work and that connecting the curriculum to communities beyond the classroom will influence the degree of understanding that students develop. For example, a social studies teacher might put students in contact with other students from another culture or geographic setting to better understand the influence of culture on the topic they are studying. Therefore it’s of worth to recognize these four elements believed to support learning hence allowing teachers to improve upon their learning environments for more effective teaching and learning. SCHOOL CRISES a. Causes of school crises They include: * Physical causes caused by school facilities for instance broken water pipes, cracked walls in campus, bad prepared food and many others. * Physiological and mental causes. A good example is break out of diseases like congenital diseases, emotional distance * Contextual causes involve crisis caused by social factors like if there was an aging population in a school district, there would be a decrease in the number of school aged pupils and hence the age enrollment rate. It might eventually lead to class reduction or even closure. If there are drug addicts near a school, teachers and students might be disturbed or even injured. * Ethical and moral causes: losses resulted from behavior constitutes a violation of professional integrity among members of school. * Disorder causes: if school members had low awareness of school discipline and rules, low morale or the tendency to careless, procrastination and chaotic behavior may easily trigger off various kinds of accidental incident. b. Effects of school crisis * Physiological damage, health hazard, disability and evidently this will disrupt the learning environment because an upright person who becomes disabled will not be having what he/she had before the accidents * Property loss will disrupt the learning environment because subjects like chemistry will require lab practicles and without labs it will be hard to experiment. * Taking responsibility which includes direct or indirect legal, economical and moral responsibility for example a school might have to take responsibilities if a pupil was injured during school activity. * Education damage involving relation between the school members deteriorates after the experience of the crisis. c. Managing school crises in order to foster learning Crisis management includes the measures and policies taken to deal with incidences that enviably disrupt learning. Siegel (1991) suggests that before working on a crises management one should figure out nature, meaning and related variables of the school crises. Schools should eliminate all possible causes of risk, and convert them into predictable and controllable variables. They should device long term preparation plans for preventing damages in future crises, and develop members’ ability to handle emergency situation effectively. As that world `becomes more complicated and fast changing than ever before there is much increasing impact on current school operation, resulting in various kinds of school crises. School crises definitely do not support effective learning hence should be abolished as much as possible. Some of them are and foreseeable of which the management could devise necessary strategic or operational plans deal with , or arrange to means of insurance to compensate for loss; while others are usually dormant but may suddenly disrupt school operation or even cause injury and death or destruction of school property (Raffan, 1984) Through good school management most of these crisis can systematically predicted and managed, loss minimized and operation and development of schools can also be maintained hence fostering good learning environment. The management tactics vary from among school crisis. Technology enhancing an effective learning environment Educational technology has been cited to make major milestone in improving the learners’ learning environments. Educational technology includes hardware such as personal computers, smaller peripherals such as Global Positioning Systems (GPSs) and Personal Digital Assistants (PDAs) that interface with computers and other equipment that can interface with such digital tools such as video cameras and VCRs. Also included in this definition is the software that runs on these devices and networks that allow them to send and share information among them. Bransford, Brown, and Cocking analyzed in their research that educational technology can make important contributions to effective learning environments hence they concluded that technology can enliven teaching and learning by facilitating the incorporation of real-world problems into the curriculum. Educational technology can help make a learning environment more learner-centered by providing a greater variety of resources that allo ws students to follow their own interests and build upon their strengths. It can also help teachers motivate students to work toward deep understanding or transfer by illustrating how what is under study in the classroom relates to the world beyond it such as by accessing real-time data on current events. Technology can help teachers meet students’ differentiated needs, by serving as a tool for enrichment or review or for presenting information in additional formats. According to Driscoll (2002) and Rieber (1996) the research literature describes how educational technology can serve as a tool that supports learning by allowing the learner to engage in more complex than otherwise possible. For example, Geographic Information Systems (GIS) can layer data about population density on top of information about political party affiliation and socio-economic status. Seeing such data simultaneously in tools such as GIS, or simulations, or computer-based micro worlds, can contribute to making a learning environment more knowledge-centered by helping students better see complex relationships and address more analytical questions than otherwise possible. The research summarized by Bransford, Brown, and Cocking has also shown that technology can make it easier for teachers to provide students with feedback about their work. For instance, it can aid in capturing performances for review and display, and it can provide multiple practice opportunities and track or calculate changes in performance along the way. It can also make it easier to communicate within and outside the classroom, providing additional opportunities for feedback in relation to Driscoll (2002)’s opinion. Thus, technology can aid teachers in making an educational environment more assessment-centered. Networked educational technology can also support communication among learners, as well as between their parents and their teachers. By allowing asynchronous and synchronous communication, whether by bulletin board, email, web pages, or chat rooms, technology can enable an exchange of ideas and questions and develop a sub-culture focused on learning and on intellectual habits productive for learning. In these ways, educational technology can aid the development of a community-centered learning environment. Conclusion: A good learning environment is crucial to promoting effective learning. In order to improve the learning environment the teachers, parents, learners and the community at large should join hands to make sure a good environment is achieved through peaceful co-existence of these four parties. REFFERENCES: Ceng, Y, C (2005) New paradigm for Re-engineering Education. Globalization and Industralization.Netherlands.Springer Higgins e tal(2004) Chronic noise, exposure impairs Cognitive Functioning with a number of studies. New York. Palgrave Press Marks,J(2001) The Educational Facilities Laboraties:National Clearinghouse for Educational facilities.Washington D.C.Edfacilties publishers Schultz, F (2001) Education.Dushkin.McGraw Willis (1996) Managing todays classroom. Finding alternatives to control and compliance.McGraw.Dushkin Bofetta, P. & Garfinkel, L. (1990) Alcohol drinking and mortality among men enrolled in an American Cancer Society prospective study. Epidemiology. New York. Palgrave Press Burke, C & I Grosvenor (2003) The School I’d like: Children and Young People’s Reflections on an Education for the 21st Century. London. Routledge Falmer.