Wednesday, October 30, 2019
Writing the History of the Australian Frontier Essay
Writing the History of the Australian Frontier - Essay Example However, Reynolds denied the claim by Windschuttle and stood by his original estimate. Thus, there started a conflict between the two distinguished figures over the number of Aboriginals killed in the frontier. "This skirmish was the first in what has since become known as the Aboriginal history wars. Windschuttle fired more shots in articles in the last four issues of Quadrant in 2000. Reynolds returned fire in a major article in the March 2001 issue of The Australian Review of Books. And there have been carefully staged verbal skirmishes in venues like Gould's Book Arcade in Sydney, on ABCTV Lateline and at the National Press Club in Canberra." (Ryan 2001, P. 31). Therefore, there has been a significant conflict of ideas and arguments by Henry Reynolds and Keith Windschuttle on the topic of writing the history of the Australian frontier and it is essential to comprehend the main areas of disagreement and agreement between the two. This paper undertakes an exploratory analysis of th e major arguments by Reynolds and Windschuttle in order to identify the major areas of disagreement and agreement between them, the evidence provided by each of them to support his position, and the utility of Ryan’s article to comprehend the realities of this controversy.... h Windschuttle has been their positions on the number of causalities in the Australian frontier and the two proposed significant substantive evidences to argue their positions. According to Reynolds, "It seems reasonable to suggest that Aborigines killed somewhere between 2,000 and 2,500 Europeans in the course of the invasion and settlement of the continent. There were many hundreds of others who were injured and carried both physical and psychological scars for the rest of their lives. Calculating the Aboriginal death toll is much more difficult For the continent as a whole it is reasonable to suppose that at least were killed as a direct result of conflict with the settlers." (Reynolds 1981, P. 99). Therefore, he mainly argues that the casualties can be calculated around 2,000-2,500 Europeans, and it is much more difficult to calculate the Aboriginal death toll. He also ascertains that Tasmania documented the conflict better than anywhere else in the country and Ryan's estimate of 800 is possibly more precise than the other estimations. The secondary effects of the invasion include disease, deprivation, and disruption which were responsible for the premature deaths of many more people and it is not possible to arrive at a realistic figure on the question. Windschuttle confronted the views by Reynolds on the number of deaths in the Australian frontier and his article "The Myths of Frontier Massacres in Australian History," claimed that many massacres of Aborigines in the Australian frontier were fabricated pointing out that the number of casualties in the frontier was far fewer than estimations of Henry Reynolds. He also disagrees with Reynolds' argument that the number of the Aborigines who died defending their territory outnumbers, in both relative and even
Monday, October 28, 2019
Cultural Anthropology Assignment Essay Example for Free
Cultural Anthropology Assignment Essay English-Lueck is of the opinion that communication technologies have increased the ways in which we can keep track of our families. According to him the communication technologies have been a boon especially for the working mothers as they help them in being connected to their children’s lives even when they spend a lot of time outside home. But at the same time communication technologies have become a bane for them too. To explain this point English-Lueck uses the example of an ageing woman who enjoyed the position of the center of her family till a few years back. Due to the boom in the communication technology, her position has been eroded, as there are other things that her children have started paying importance to even in her presence. For example their constant email contacts keep them busy. As a result the modern gadgets are sharing the time they spent with their mother. So according to English-Lueck, there is a mixed effect of the technology. In some aspects it has enhanced family life while in another aspects, it has played deterrent to keep intact the old way of leading life. Molitor’s viewpoints are also similar to that of English-Lueck as far as the issue of the effect of communication technologies on families are concerned. According to him the modern technologies help us to stay in touch with our families even when we are physically away from them. To explain this point he throws light upon how even newborn babies are in constant touch with their parents through technology. Their parents with the help of two-way radio transmitters monitor every move that they take in their cribs. So though the way of stating their viewpoints is different, both the experts are similar in their analysis of the effect of communication technologies on maintaining family relationships. My family and I are greatly affected by the technological changes that have taken over the years. Each of us is just a click or a phone call away from each other. Even when all of us are so busy in our lives that we hardly get time to spend with each other, thanks of the innovative technologies, now we have complete track of one another as we are in constant touch with one another throughout the day. References English-Lueck, J. A. (Speaker). (1998). Technology and Social Change: The Effects on Family and Community. COSSA Congressional Seminar. Mackay, H. , Ivey, D. (2004). Modern Media in the home: An Ethnographic Study. Italy: John Libbey Publishing – CIC Srl. Molitor, G. T. T (2003). Communication technologies that will change our lives – Science Technology Retrieved Feb. 1, 2008 from, USA Today (Society for the Advancement of Education) Website:://findarticles. com/p/articles/mi_ml272/is_2692_131/ai_9628305/ print
Saturday, October 26, 2019
Searching for Meaning in Shakespeare’s Tempest :: Tempest essays
Searching for Meaning in Shakespeare’s Tempest         Shakespeare lived and wrote in the Elizabethan age, a time when his society was branching out and making itself known throughout the world by colonizing other cultures. Great Britain was reaching for new heights of power. In the play Shakespeare questions the value of this new concept of British imperialism. The Tempest is called Shakespeare's American play, because he calls into question England's right to colonize other nations, much as American colonists did with America 200 years later.         The Tempest was Shakespeare's last play. For his entire life he had written plays to please the Queen. For this play it appears he made a controversial statement by challenging the values of his Queen and his country.         Evidence of this is abundant in the play. The story rotates around the fact that Prospero, a European noble, had imposed himself on an island, already inhabited. Prospero is depicted as a worthy man, who was usurped from his throne. The reader has automatic sympathy for the character. This allows him more leeway for wrong doing by creating room for it within the reader's mind. Prospero came to the island with his daughter to find it already inhabited by two savages. Upon arrival, Prospero brought his â€Å"new†ideas with him, and began to force them upon these two savages, Sycorax and Caliban. He believed that his new ideas were better, such as slavery opposed to freedom, which he imposed on Caliban.                â€Å"Dull thing, I say so; he, that Caliban,               Whom now I keep in my service.†                              (Act. I, Sc. II, Ln. 285,6)  This view of whose ideas were better is an obvious matter of opinion, one of the biggest drawbacks to transforming old ideas into new.         Prospero was the first male that Caliban had seen in his life. As a â€Å" lower being†Caliban worshipped and praised Prospero, as the quote below shows, until Prospero began to mistreat him.                 â€Å"I know it by thy trembling: now Prosper works upon thee†                                     (Act II, Sc. II, Ln. 81-3)         This worship caused Prospero to act as a ruler above him, eventually pushing him to be the tyrant over Caliban, including robbing Caliban of his freedom. Keeping within his worship, Caliban lost his self-confidence and any drive for good deeds. Because Prospero had imposed himself upon Caliban, Caliban's life began to decline. Without drive, or freedom for that matter, Caliban turned to a vegetable only working as a slave to Prospero. Again, the act of asserting that your ideas are superior can cause indelible harm to the Searching for Meaning in Shakespeare’s Tempest :: Tempest essays Searching for Meaning in Shakespeare’s Tempest         Shakespeare lived and wrote in the Elizabethan age, a time when his society was branching out and making itself known throughout the world by colonizing other cultures. Great Britain was reaching for new heights of power. In the play Shakespeare questions the value of this new concept of British imperialism. The Tempest is called Shakespeare's American play, because he calls into question England's right to colonize other nations, much as American colonists did with America 200 years later.         The Tempest was Shakespeare's last play. For his entire life he had written plays to please the Queen. For this play it appears he made a controversial statement by challenging the values of his Queen and his country.         Evidence of this is abundant in the play. The story rotates around the fact that Prospero, a European noble, had imposed himself on an island, already inhabited. Prospero is depicted as a worthy man, who was usurped from his throne. The reader has automatic sympathy for the character. This allows him more leeway for wrong doing by creating room for it within the reader's mind. Prospero came to the island with his daughter to find it already inhabited by two savages. Upon arrival, Prospero brought his â€Å"new†ideas with him, and began to force them upon these two savages, Sycorax and Caliban. He believed that his new ideas were better, such as slavery opposed to freedom, which he imposed on Caliban.                â€Å"Dull thing, I say so; he, that Caliban,               Whom now I keep in my service.†                              (Act. I, Sc. II, Ln. 285,6)  This view of whose ideas were better is an obvious matter of opinion, one of the biggest drawbacks to transforming old ideas into new.         Prospero was the first male that Caliban had seen in his life. As a â€Å" lower being†Caliban worshipped and praised Prospero, as the quote below shows, until Prospero began to mistreat him.                 â€Å"I know it by thy trembling: now Prosper works upon thee†                                     (Act II, Sc. II, Ln. 81-3)         This worship caused Prospero to act as a ruler above him, eventually pushing him to be the tyrant over Caliban, including robbing Caliban of his freedom. Keeping within his worship, Caliban lost his self-confidence and any drive for good deeds. Because Prospero had imposed himself upon Caliban, Caliban's life began to decline. Without drive, or freedom for that matter, Caliban turned to a vegetable only working as a slave to Prospero. Again, the act of asserting that your ideas are superior can cause indelible harm to the
Thursday, October 24, 2019
Pakistan Banks Ratios
What factors should Amerada management consider when evaluating the reposed strategy? . Calculate Marinade's debt-to-value ratio using both the book value and market value of the firm's equity. How does Marinade's debt-to-value ratio compare to that of other discount brokerage and investment service companies in Exhibit 4? In general terms, how does leverage affect the rockiness of a firm's equity? 3. Amerada has a short history of trading, so its beta cannot be computed precisely using its own historical data.Exhibit 4 provides some choices for comparable firms. Which of these firms do you think are appropriate to use as comparable to determine the beta of Marinade's planned advertising and technology investments? Why? 4. Using the stock price and return data in Exhibits 5 and 6, estimate the CAMP beta and Fame-French factor sensitivities for the stocks of comparable firms. 5. Estimate the weighted-average cost of capital for Marinade's proposed expansion. What risked rate do you us e?Are the cost-of-capital estimates similar using the CAMP and Fame-French three-factor models? Guidelines You may work on the case in groups of 3 or 4 students. Please hand-in one write-up per group. All members of the group should be prepared to discuss the case in class. State clearly any assumptions you make and provide enough information so that a reader can follow your analysis. I would expect the case write-up to be two to three pages plus supporting tables.
Wednesday, October 23, 2019
Comparative Programmes of Business Education in Nigerian Universities (a Case Study of Ambrose Alli University, Ekpoma and Delta State University, Abraka)
Current Research Journal of Social Sciences 2(2): 58-64, 2010 ISSN: 2041-3246  © M axwell Scientific Organization, 2010 Submitted Date: November 18, 2009 Accepted Date: December 14, 2009 Accepted Date: March 10, 2010 Comparative Programmes of Business Education In Nigerian Universities (A Case Study of Ambrose Alli University, Ekpoma and Delta State University, Abraka) 1 F. O. Ohiwerei and 2 N. A zih Department of Vocational and Technical Education, Ambrose Alli University, Ekpom a, Edo State, Nig eria 2 Departm ent of Business Education, E bon yi State University, Abakaliki, Eb ony i State, Nigeria Abstract: This paper is aimed to critically x-ray the business education curriculum of Nigerian Universities a case study of Ambrose Alli University, Ekpoma and Delta State U niversity, Ab raka. It w as observed that in Amb rose Alli University business education is housed in the department of Vocational and Technical Education with two options namely Accounting Education and Secretaria l Education while it runs a specialized system right from 1 00 to 4 00 lev els. On the other hand the Delta State University runs a 100 to 200 levels broad based system. Specialization is done in 300 and 400 levels.Here business education is a unit of its own; housing accounting option, secretarial option, management option, but unfortunately computer education options is not functional. It was observed that the objectives, philosophy and ad mission requ irements of bo th universities are the same. While courses offered are different in nature. Conclusion and recommendations were made. Key w ords: Business educ ation, curriculu m, effectiveness, pro gram me, teachin g, univ ersity INTRODUCTION Education is the totality of life experience that man acquires and which enables him to cope with and derive satisfaction from living in the word.This is because it enables him to achieve social competence and optimum individual development. Broken down, business education which is a subset of the general education can be seen as the development of person’s h ead, heart and han ds for his self fulfillment and optimum service s to human ity. To achieve this according to the National Policy on Education (2004), compu ter education was integra ted into the primary school curriculum, a welcome development but sad to note that sub jects like shorthand, typewriting, commerce, and book-keeping are integrated together to form business studies thereby losing their original identity.Experience has shown that most people are not interested in business education as a profession with the mind set that it is education meant for the less privilege or a programme, which up on graduation, there is no opportunity for securing a job. This is so because Bu siness educ ation curriculum planners who are not profe ssional membe rs in the field could not design a uniform curriculum that will ho use all the universities offering business educ ation courses in Nigeria. The incompetence on the part of business education graduates also lays on the curriculum not properly designed to reflect the psychomotor nature of our noble profession.Pitman (1974) defin ed curriculum as a prescribed courses of studies. While Hornby (2006) says curriculum are the subjects that are included in a course of study or taugh t in a school, college, etc. According to Okoye (1991), the process of curricu lum developm ent and plan ning is continuo us. It does not end once and for all time. Acco rding to Uwaifo (2006) a close look at the current Vocational and Technical Education curriculum g enera lly reveals some problems that border on inadequate course content.Uhumuavbi and Ebhomhen (20 06) in their ow n vain stated that irrespective of the level of education and training given during the pre-colonial days in Africa, it was functional because the curriculum was relevant to the needs of the society. Unemployment if it existed at all was minimal and very few young men roamed the villages and towns with nothing to do. According to Snyder (2008), a flexible curriculum is important because there is no single cu rricular path to career success. We are giving students more flexibility; this is not a radical departure from our curriculum.Robert and Booth (2008) stated that the curriculum changes allow students to increase the intensity o f their studies. The present Nigerian Universities business education curriculum has overstayed, therefore, it is important that they be modified to meet today’s needs. This is very essential from the standpoint of academic integrity. One will be tempted to ask at this juncture, is there anything wrong with the present Nigerian Universities business Corresponding Author: F. O. Ohiwerei, Department of Vocational and Technical Education, Ambrose Alli University, Ekpoma, Edo State, Nigeria 58Curr. Res. J. Soc. Sci. , 2(2): 58-64, 2010 education curriculum? The researchers answer is â€Å"YES’ but that does not mean that the p res ent curriculum on ground can not be improved upon. The reasons for the reform ation of the business education curriculum is aimed to he lp create tomorrow’s competitive workforce by inspiring and engaging businesses to work in partnership with schools to raise the levels of achievement of young people, especially those in disadvantaged circumstances. Business education has advanced the level of â€Å"garbage in, garbage out words system†but a leadership role.The importance of the business edu cators is increasing as the business world becomes more complex. Through this programm e, individuals are educated to become skilled employees who can contribute mea ningfully to the overall effectiveness of an office, teaching and learning in schools. It is on the basis of this therefore; the researchers attempt to examine, compa re and contrast the cu rriculum of business education programmes of Ambrose Alli University, Ekpoma and Delta State University, Abraka with a view to s cientifically reform it to meet the ever increasing techn ology deve lopm ent.This study will be of benefit to the teachers, students, parents and governmen t. Through this study, students’ competency for work placem ent w ill be ach ieved . The teachers will be properly informed on what should be included or excluded from the curriculum for effective teaching and learning. The parents will have a sign of relief that upon gradu ation from the unive rsity their children will be gainfully employed or self-reliance. The government will appreciate the programm e, as it will help to reduce unemployment and crime rate in the society.LITERATURE REVIEW BUSINESS EDUCATION PROGRAMM ES OFFERED BY AMBROSE ALLI UNIVERSITY, EKPOMA AND DELTA STATE UNIVERSITY, ABRAKA Business education program mes offered by A mbro se Alli University, Ekpoma are: C C Accounting education option Secretarial education option C W hile the business education programmes offered by the Delta State University, Abra ka are: C C C C C Accounting Option Secretarial Technology Option Management Option. Computer Education Option.Programm e title: Secretarial Studies/O ffice Ma nagem ent: Both universities have the same philosophy, specific objectives and admission requirements as described below: Philosophy: The introduction of the office automation, by the use of electronic equipment has not only brought changes on office procedures and competencies, but also has created new functions in the business offices. In order to met the chan ging o ffice skills, educational have also changed their business education programmes to cater for the new requiremen ts by introducing office management programme.In Nigeria, office automation has become a reality and all levels of government are requesting educational institutions to include co mpu ter literacy in their curriculum. This programme is designed to meet the requirements of the changing office environment and the call by the governments in Nigeria. Spec ific Objectives: This programme is designed to give the students the liability to work in modern business offices and to teach modern office skills in seconda ry schools.Specifically, the programme will give the students the skills to perform the follow ing functions in the office: C C C C C Planning and organizing office operations, W ritten communications and telecom mun ications in the office, Information and records management in the office, Leadership and Human Relations in the office, Controlling office operations. Adm ission requirements: (Four-year programmeUM E): W est African School Certificate (W ASC) or General Certificate of Education (GCE O/L or NECO with at least credit passes in five relevant subjects which must include English Language.Direct entry: C Passes at merit level in relevant Diploma programme of a University or any other institution recognized by Senate in addition to fou r O/L credit passes which must include English Language. Passes in two relevant subje cts at A /L in ad dition to three C/L credit passes or its equivalent which must include English Language, Passes at merit level in least tw o sub jects in NC E in addition to three credit passes in G CE O/L or its equivalent, in not more than two sittings.In the actual sense, Accounting, Secretarial and man agem ent op tions are opera tional. 59 No student shall qua lify for the award of an hono urs degree of the University if he/she spends more than two sessions (four semesters) beyond the normal period allowed for the degree programme. Curr. Res. J. Soc. Sci. , 2(2): 58-64, 2010 Accounting Education University, Ekpoma Option of A mbrose A lli ACC ACC ACC ACC 304 306 307 308 Public Finance Com pany Law Banking A nd Finance Quantitative Analysis For Business Decision 2C 2C 2C 2C 24F I R ST S E M E S T E R 1 0 0 L E V E L S E C O N D S E M E S T E R 3 00 L E V E L EDU 100 EDU 101 EDU 102 ECO 101 ACC 101 GS T 10 1 GS T 1 02 CSC 101 Introduction To Teaching Profession H istory Of Educ ation Developm ental Psy 1 E conom ics Principles 1 Principle Of Accounting U se O f Eng lish An d Lib rary P hilos oph y A nd L ogic Intro To Compu ter 2C 2C 2C 3C 3C 4C 2C 2C 20 VTE 311 Students Industrial Work Experience Scheme F I R ST S E M E S T E R EDU EDU ED U ACC ACC 400 LEVEL 15CS E C O N D S E M E S T E R 1 00 L E V E L EDU 111 EDU 115 GS T 11 1 GST 1 12 EC O 1 11 BED 111 BED 114 AC C 1 11 Introductions To Social Studies Intoduction To Special Education N igeria Peo ples A nd C ulture History And Philosophy Science E cono mics P rinciple II Office Practice F undam entals Of Bu siness P rinciples O f Acc oun ting II 2C 2E 2C 2C 3C 2C 3C 3C 19 400 Project 402G uidance And Counseling 4 03 C ontin uou s A ssess men t 402Auditing And Investigation 404 Public Sector Accounting 4 00 L E V E L C 2C 2C 3C 3C 16 SECOND SEMESTER EDU 411 EDU 413 EDU 415 ACC 412 AC C 4 14 ACC 415 BED 413 BED 415 VTE 411 F I R ST S E M E S T E R 2 0 0 L E V E L EDU 201 EDU 202 VTE 201 ACC 201 ACC 204 A C C 2 08 ECO 201 Philosophy Of Education C urriculum And Instruction Vte In Nigeria And Other Coun tries Financial Accounting 1 Introduction To Finance 1 B us in es s L aw 1 M icro Economics 2C 2C 2C 3C 2C 2C 3C 16 C 2C 2C 3C 3C 3C 3C 3C 2C 23 Secretarial Education Option of A m b ro se A ll i U n iv er si ty , E k po m a F I R ST S E M E S T E R 1 0 0 L E V E L EDU 100 EDU 101 EDU 102 GS T 10 1 GS T 1 02 BE D 1 01 BED 102 AC C 1 01 CSC 101 Introduction To Teaching Profession H istory Of Education Developm ental Psy I U se O f Eng lish An d Lib rary P hilos oph y A nd L ogic S hortha nd I Typew riting I P rinciples O f Acc oun ting I Introduction To C omputer Science 2C 2C 2C 4C 2C 3C 3C 3C 2C 23O rganization of Primary And Secondary Education C omparative Education E ducational Psychology Management Accounting F inan cial M ana gem ent M anagement Information System H uman Relations And Personnel Management B usiness Communication Professional SeminarF O R D I R E C T E N T R Y ST U D E N T S O N L Y GS T 10 1 U se O f Eng lish An d Lib rary GS T 1 02 P hilos oph y A nd L ogic CSC 101 Introduction To C omputer Science S E C O N D S E M E S T E R 2 00 L E V E L EDU 211 EDU 212 EDU 213 EDU 214 ACC 211 ACC 213 AC C 2 14 GST 222 VT E 2 11 Subject Method E ducational Technology Sociology Of Education R esearch Method S and Data Processing Financial Accounting 11 Cost Accounting I In troduc tion To Finan ce II Peace And Conflict Resolution V OC & T ech .Edu catio n in N igeria 3C 3C 2C 2C 3C 2C 2C 2C 2C 21 4C 2C 2C 24 S E C O N D S E M E S T E R 1 00 L E V E L EDU 111 EDU 115 GS T 11 1 GST 1 12 BED 111 BE D 1 12 BE D 1 13 BED 114 AC C 1 11 Introduction To Social Studies Introduction To Special Education N igeria Peo ples A nd C ulture History And Philosophy Science Office Practice T ypew riting II S hortha nd II Introdu ction To B usiness P rinciples O f Acc oun ting II 2C 2E 2C 2C 3C 3C 3C 3C 3C 23F I R ST S E M E S T E R 2 0 0 L E V E L EDU 201 EDU 202 VTE 201 B ED 201 BED 202 BED 203 BED 205 BED 208 Philosophy Of Education C urriculum And Instruction VT E In Nigeria And Other Countries Intermediate Shorthand Intermediate Typewriting P lanning O rganizing Office O perations I B usiness Co mmu nications I Business Law 2C 2C 2C 3C 3C 3C 3C 3C 21 F O R D I R E C T E N T R Y ST U D E N T S O N L Y GS T 11 1N igerian P eople A nd C ulture GST 1 12 History And Philosophy Of Science 2C 2C 25F I R ST S E M E S T E R 3 0 0 L E V E L EDU 300 EDU 301 EDU 302 VTE 301 BED 304 ACC 301 ACC 303 Teaching Practice E ducational Administration And Planning E ducational Technology Time M anagement B usiness Machine Intermediate Financial Accounting I Element Of Management 3C 2C 2C 2C 2C 3C 2C F O R D I R E C T E N T R Y ST U D E N T S O N L Y GS T 10 1 U se O f Eng lish An d Lib rary GS T 1 02 P hilos oph y A nd L ogic CSC 101 Introduction To C omputer Science 4C 2C 2C 8 0 Curr. Res. J. Soc. Sci. , 2(2): 58-64, 2010 S E C O N D S E M E S T E R 2 00 L E V E L ED U 211 EDU 212 EDU 213 EDU 214 GST 222 BED 211 BED 212 BE D 2 13 BE D 2 15 VT E 2 11 Subject Method E ducational Technology Sociology Of Education R esearch Methods And Data Processing Peace And Conflict Resolution Intermediate Shorthand I Intermediate Typewriting I P lanning /Orga nization O ffice O peration s II B usiness Co mm unication II V oc. A nd te ch.E duc ation in N igeria 3C 3C 3C 2C 2C 3C 3C 3C 3C 2C 27 S E C O N D S E M E S T E R 1 00 L E V E L BE D 1 11 In troduc tion to S ecretarial Ed ucation in Sho rthand II BE D 1 12 In troduc tion to S ecretarial Ed ucation in Typ ewriting II BED 113 Principles of Business Education BED 114 Introduction to Vocational & Technical Education BED 115 Principles & Practice of Cooperative EDU 112 Introduction to Social Studies Education AC C 1 11 In troduc tion to A ccou nting II BUS 114 B usiness Communication EC N 1 11 P rinciples o f Eco nom ics II GS T 11 1 N igeria Peo ple and Cu lture GST 113 Peace Studies andConflict Resolution GS T 1 14 Com munication in French F I R ST S E M E S T E R 2 0 0 L E V E L 2C 2C 4 BED 201 B asic Word Processing: Shorthand I BED 202 B asic Word Processing: Typewriting I BED 203 M arketing Management Education EDU 200 Principles of Instruction EDU 201 Philosophy of Education EDU 202 C urriculum Development ACC 201 Financial Accounting I AC C 2 03 Q uan titative F inan cial A naly sis BU S 2 01 P rincip les of M ana gem ent I CSC 200 Introduction to Compu ter S E C O N D S E M E S T E R 2 00 L E V E L BE D 2 11 B asic W ord P rocessin g: Sho rthand II BE D 2 12 B asic W ord P rocessin g: Typ ewriting II BED 213 O ffice Management BED 214 Leadership Behaviour BED 215 Finance and Economics of Business Education EDU 211 B usiness Education Method EDU 212 T est and Measurement EDU 213 Sociology of Education AC C 2 11 F inancial A ccou nting II BU S 21 1 Princ iples of M anag emen t II 2C 2C 2C 2C 2E 3C 3C 2C 3C 2E 23 Accounting Option 300 Level of Delta State University, Abraka BED BED EDU EDU EDU ACC ACC ACC BUS 302 B usiness Edu cation Statistics I 303 B anking Education 300 Teaching Practice 301 E ducational Administration and Planning 302 Educational Technology 301 Corporate Accounting I 303 Cost Accounting I 305 Auditing B us in es s L aw I 2C 2C 3C 2C 2C 3C 3C 3C 2C 22 2C 2C 2C 2C 2C 2C 2C 2E 3C 3C 22F O R D I R E C T E N T R Y ST U D E N T S O N L Y GS T 11 1N igerian P eople a nd C ulture GST 1 12 History And Philosophy of Science 4 F IR S T S E M E S T E R 3 00 L E V E L EDU 300 Teaching Practice EDU 301 E ducational Administration And Planning EDU 302 E ducational Technology VTE 301 Time M anagement BE D 3 01 In termed iate Sho rthand II BE D 3 02 In termed iate Typ ewriting II BE D 3 03 R eco rd M ana gem ent I BED 304 B usiness Machine AC 3 06 Com pany Law S E C O N D S E M E S T E R 3 00 L E V E L VTE 311 Students Industrial Work Experience Scheme F I R ST S E M E S T E R 4 0 0 L E V E L EDU EDU EDU BED BED BED 400 Project 402 G uidance And Counseling 403 C ontinuous Assessment 401 O ffice Dictation I 402 W ord Processing I 403 Personnel Management 6C 2C 2C 3C 3C 3C 19 15C 3C 2C 3C 2C 3C 3C 3C 2C 3C 24 2C 2C 2C 2C 2E 2C 2C 2C 3C 2C 2C 2C 25 S E C O N D S E M E S T E R 4 00 L E V E L EDU 411 O rganization Of Primary And Secondary Education EDU 413 C omparative Education EDU 415 E ducationalPsychology VTE 411 Professional Seminar BE D 4 1I O ffice D ictation II BE D 4 12 W ord P rocessin g II BED 413 Hum an Relations And Personnel BE D 4 14 R ecord M anag emen t II ACC 415 M anagement Information System 2C 2C 2C 3C 3C 3C 2C 3C 3C 23 Accounting, Secretarial and M ana gem ent O ptions of D elta Sta te University, Abraka F I R ST S E M E S T E R 1 0 0 L E V E L BED 101Introduction to Secretarial Education in Shorthand I BED 102 Introduction to Secretarial Education in Typewriting I EDU 100 Introduction to Teaching Profession EDU 101 H istory of Education EDU 102 D evelopmental Psychology ACC 101 Introduction to Accounting I BUS 102 I ntroduction to Business Mathematics ECN 102 P rinciples of Econom ics I GS T 10 1 U se of E nglish a nd L ibrary GS T 1 02 P hilos oph y an d L ogic 2C 2C 2C 2C 2C 2C 3C 3C 2C 2C 22S E C O N D S E M E S T E R 3 00 L E V E L BE D 3 12 B usiness Edu cation S tatistics II BED 313 H uman Resources Management in Education EDU 311 Educational Psychology EDU 312 R esearch Methods and Data Processing ACC 311 Corporate Accounting II (Accounting Option) ACC 312 Taxation AC C 3 13 C ost A ccou nting II F I R ST S E M E S T E R 4 0 0 L E V E L BED BED BED BED EDU EDU EDU ACC 400 Research Project 402 Project Evaluation 403 A dmin. Of Vocational and Technical Education 404 Business Finance 401 Teaching Practice 402 G uidance and Counseling 403 C ontinuous Assessment 402 Advanced Financial Accounting 6C 2C 2C 2E 3C 2C 2C 3C 21 2C 2C 2C 3C 3C 3C 3C 18 61 Curr. Res. J. Soc. Sci. , 2(2): 58-64, 2010S E C O N D S E M E S T E R 4 00 L E V E L BED BED BED BED BED EDU EDU ACC 410 Students Industrial Work Experience Scheme (SIWES) 411 Sm all Business Development 412 Professional Seminar 413 B usiness Education and Industrial Relations 414 M anpower Training and Development 411 O rganization of Primary and Secondary Education 412 C omparative Education 412 Financial Management 6C 2C 2C 2C 3E 2C 2C 3C BED 313 H uman Resources Management in Education BE D 3 14 In termed iate W ord P rocessin g II B E D 3 15 In te rm ed ia te Sh orth an d II (1 00 W PM ) BED 316 Law and :Practice of Meetings (E) BE D 3 17 S ecretarial Pro cedu re EDU 311 E ducational Psychology EDU 312 R esearch Methods and Data Processing F IR S T SE M E S T E R 40 0 LE V E BED 400 Research Project BED 402 Project Evaluation BED 403 A dmin.Of Vocational and Technical Education BED 404 Business Finance BED 405 A dvanced Word Processing I B E D 4 06 Ad va nc ed Sh orth an d I (1 10 W PM ) EDU 401 Teaching Practice EDU 402 G uidance and Counseling EDU 403 C ontinuous Assessment S E C O N D S E M E S T E R 4 00 L E V E L B ED 410 BED 411 BED 412 BED 413 BED 414 BE D 4 15 B E D 4 16 BED 417 EDU 411 EDU 412 Students Industrial Work Experience Scheme (SIWES) Sm all Business Development Professional Seminar B usiness Education and Industrial Relations M anpower Development A dvan ced W ord P rocess II Ad va nc ed Sh orth an d I (1 20 W PM ) V ocational Guidance in Business Education O rganization of Primary and Secondary Education C omparative Education 6C 2C 2C 2C 3E 2C 2E 2E 2C 2C 25 4C 2C 2C 2E 2C 2E 3C 2C 2C 21 2C 2C 2C 2E 2C 2C 3C 19 22Managem ent Option of Delta State University, Abraka F I R ST S E M E S T E R 3 0 0 L E V E L ED U 30 2 Bu siness Education S tatistics I BED 303 B anking Education EDU 300 Teaching Practice EDU 301 E ducational Administration and Planning EDU 302 E ducational Technology BUS 304 Production Management BUS 307 D ata Processing and Management Information B U S 30 2 Bu si ne ss La w I S E C O N D S E M E S T E R 3 00 L E V E L BED 311 Business M achines BE D 3 12 B usiness Edu cation S tatistics II BED 313 H uman Resources Management in Education EDU 311 E ducational Psychology EDU 312 R esearch Methods and Data Processing BUS 316 C onsumer Behaviour and Production BUS 317 D ata Processing and Management Information F I R ST S E M E S T E R 4 0 0 L E V E L BED BED BED BED EDU EDU EDU BUS 400 Research Project 402 Project Evaluation 403 A dmin. Of Vocational and Technical Education 404 Business Finance 401 Teaching Practice 402 G uidance and Counseling 403 C ontinuous Assessment 401 Business Policy 6C 2C 2C 2E 3C 2C 2C 3C 22 2E 2C 2C 2C 3C 3C 3C 17 2C 2C 3C 2C 2C 2C 3C 2C 18DISCUSSION The objectives, philosophy and admission requirements of both universities are the same. The course description of Compu ter education option of Delta State University was not stated in their handbook an indication that the p rogramm e is yet to take of. It was also observed that the present curriculum being operated by the Business Education of Delta State University bec ame operational in 2006/2007 academic session to date. Differences in course units were observed. For example, according to Ambrose Alli University, F aculty of Education hand book (2000), shorthand, which is 3 units in Ambrose A lli University, is 2 units in Delta State University. Title differences were observed e. g. n Amb rose Alli University BED 205 and BED 215 is Business Comm unica tion, w hile in De lta State University Business Communication is coded BUS 114. BED 400, which is research pro ject in D elta State University, is EDU 400 in Am brose Alli Un iversity. There are some courses that are offered in Ambrose Alli University that are not offered in D elta State University. A lso there are some courses that are offered in Delta State University that are not offered in Ambrose Alli University, such as BED 113 Principles of Business Education, GST 114 Communication in French, BED 203 Marketing Management Education, BED 214 Leadership b ehaviou r, BED 410 Small Business Deve lopment, BED 413 Business Education and Industrial Relations BED 414 Manpower Training and D evelo pme nt.S E C O N D S E M E S T E R 4 00 L E V E L BED 410 Students Industrial Work Experience Scheme (SIWES) BED 411 Sm all Business Development BED 412 Professional Seminar BED 413 B usiness Education and Industrial Relations BED 414 M anpower Development EDU 411 O rganization of Primary and Secondary Education EDU 412 C omparative Education BUS 416 Sale Management 6C 2C 2C 2C 3E 2C 2C 2C 21 Secretarial Technology Option of Delta State University, Abraka F I R ST S E M E S T E R 3 0 0 L E V E L BED 302 B usiness Edu cation Statistics I BED 303 B anking Education BED 304 Intermediate Word Processing I B E D 3 05 In te rm ed ia te Sh orth an d I (9 0 W P M ) BED 306 Office Information System EDU 300 Teaching Practice EDU 301 E ducational Administration and Planning EDU 302 E ducational Technology B U S 30 2 Bu si ne ss La w 1 S E C O N D S E M E S T E R 3 00 L E V E L BED 311 Business M achines BE D 3 12 B usiness Edu cation S tatistics II 2C 2C 2C 2C 3C 2C 2E 3C 2C 2C 2C 20 62 Curr. Res. J. Soc. Sci. 2(2): 58-64, 2010 W hile the following are courses offered in Am brose Alli University that are not offered in D elta State University; BED 111 O ffice Practice; BED 114 Foundamental of Business; ECO 111 Economics Practice; ACC 208 Business Law; V TE 301 Time M anag eme nt; VTE 201 VTE in Nigeria and other coun tries; BED 203 Planning Organizing Office; BED 303 R ecord Manag eme nt, and BED 415 M anagement Information System. CONCLUSION C It is our responsibility to plan, im plem ent, and update programmes so that students can attain a satisfactory level of achievement appropriate to either imm ediate employment or advanced education in preparation for later employment. Opportunities are ab undant for studen ts in the business w orld if their preparation is complete and if their attitudes are positive.RECOMMENDATIONS The authors hold the view that to be relevant in t he 21 st Century, business educ ators sh ould be trained based on the following courses: 100 and 200 level for both office education and accounting education: (1) Computer in business education (2) Shorthand (3) Introduction to Office Education in typewriting 1 (4) Principle of Accounting 1 (5) Introdu ction to Office education in typewriting II (6) Office Ma nagem ent (7) Introduction to B usiness (8) Principles of Accou nting II (9) Office Information System 1 (10) Basic word processing in Office (11) Business Communication (12) Financial Accounting 1 (13) Business Law 1 (14) Basic word processing in Office II (15) Business Ma chines (16) B usiness C omm unication II (18) Planning/Organisation of Office operations. (19) Office Information system II (20) Entrepreneurship. 00 and 400 level office technology: (1) Audio typing (Manual and Electric) (2) Record Management (3) Time Management (4) Company Law (5) Sma ll Scale Business (Introduction to Bu siness) (6) Indu strial Attachment (SIWES) (7) Practical Teaching ( 8) Applied W ord processing in Office (9) Office Dictation I (10) Business Ownership/Applied Economics (11) Human/Personnel Management (12) Marketing (13) Industrial and Labour Relations (14) Applied W ord processing in Office II (15) Office Dictation II (16) Record Management II (17) Seminar and Project wo rk. This is how ever subjec t to regular revision. 300 and 400 level accounting education: (1) Record Management (2) Time Managem ent (3) Company Law (4) Small Scale Business (Introduction to Business) (5) Industrial Attachment (SIWES) (6) Practical Teaching (7) 63 C Business Ow nership/Applied E conom ics (8) Human/Personnel Management (9) Marketing (10) Industrial and Labour Relations (11) Record Management II (12) Seminar (13) Project work. Accounting courses from Accounting Department should be added to the above. This is however subject to regular revision.Other recommendations are; C National University Commission should regularize the curr iculum of business education in all Nigerian Universities. Curriculum planners should be careful while planning in order not to remove some essential recipes from the existing content. Such as the issue of shorthand to be or not to be. All business education students should be allowed to offer all courses in 100-200 levels and specialized in 300 levels. National University Commission should take it upon her self to redeploy those lecturers who are not business educators specialist to their specialized departments. Regular review of the curriculum of our educational system is urgently required.This view is supported by that of Snyder (2008) which stated tha t flexible curriculum is important because there is no single curricular path to career success. While Kaplan (2008) says g iving studen ts more flexibility, is not a radical departure from their curriculum . Government shou ld provide fun ds and equ ipment to assist holistic regular curriculum designers for the smooth running of business education programmes as this will encourage parents, teachers and students. This is in line with Omo-Ojugo and Ohiwerei (2008) that stated that local, state and federal gove rnments shou ld assist by providing funds and equipment for teaching and learning of business education.More courses shou ld be incorporated in the business curriculum to provide more job opportunities for graduates as recently carried out by the U niversity of Chicago Gradu ate school of Business as confirmed by Sny der (2008). REFERENCES Amb rose Alli U niversity, 2000. Fac ulty of Education Handbook for Undergraduate Students 2000-2004. Ekpoma, AAU. Delta State University, 200 6. Bu siness Education Unit Academ ic Programme for B. Sc. Degree In Business Education. Abraka, Delsu. Federal Government of Nigeria, 2004. National Policy on Education. Yaba Lago s: NERD C Press. Hornby, A. S. , 2006. Oxford Advanced Learner Dictionary of Cu rrent Eng lish. th Edn. , London, Oxford press. C C C C Curr. Res. J . Soc. Sci. , 2(2): 58-64, 2010 Kaplan, S. , 2008. Curriculum Changes Announced by University of Ch icago Graduate School of Business. Business Wire. Posted on W ednesd ay, 8th October. 09:00 CDT. Okoye, N. S. , 1991. Curriculum Theory and Development. Enugu, Ne w A ge Publishers. Omo-Ojugo, M . O. and F. O. Ohiwerei, 2008. School factors affecting teaching and learning of business education studies in Nig eria. Pak. J. Soc. Sci. , 5(7): 663-670. ISSN : 1683 -8831. Pitman, I. , 1974. Dictionary of English and Shorthand. Lon don, Sir Isaac Pitman and Sons Ltd. Robert, G. and W. W . Booth, 2008.Curriculum Changes Announced by University of C hicag o Graduate School of by Business. Business W ire. Posted on Wednesday, 8th October. 09:00 CDT. Snyder, E. , 2008. Curriculum Changes Announced by University of Chicago Graduate School of Business. Business W ire. Posted on W ednesd ay, 8th October. 09:00 CDT. Uhumu avbi, P. O. and E. S. Ebhomhen, 2006. Curriculum innovation in Nigeria, succe sses and failures: implication for teacher ed ucation. J. Curric. Stud. Instr. , 2: 69-77, ISSN: 1117-4080. Uwaifo, V. O. , 2006. Vocationalization A panacea for a s us ta in a ble t e c h n ol o g i ca l a nd m an p ow e r development in Nigeria. J. Curric. Stud. Instr. , 2: 3039, ISSN: 1117-4080. 64
Tuesday, October 22, 2019
The Ara Pacis Essay Example
The Ara Pacis Essay Example The Ara Pacis Essay The Ara Pacis Essay What is the unique vision or intent of the artist or patron in the Ara Pacis? As you write the paper, you must make the connection between subject matter, style and function by discussing how these concepts are represented according to cultural preference and values. After a century of warfare that led to the downfall of the Roman Republic, Augustus, who had ruled as emperor since 27 BCE, deemed circa 15 BCE a time of peace, frequently called the Pax Augusta. In recognition of this achievement, the Roman Senate voted in 13 BCE to sponsor the construction of an altar dedicated to peace and to the emperor who had made the end of wars possible. The result, completed about four years later, was the Ara Pacis Augustae. This â€Å"Altar of Augustan Peace†is the most intimate imperial monument. It serves as the perfect example of the elegant and gracious style of art cultivated during Augustus’ rule. The altar was also meant to be a vision of the Roman civil religion. Augustus worked tirelessly to revive traditional religious observances. He restored more than eighty of the city’s temples, encouraged marital fidelity, and convinced the citizens to raise larger families. The sculptural decorations of the Ara Pacis display a scrolling pattern of branches and leaves, swarming with animal life, a lush world of flourishing plants and lively animals including birds, toads, lizards, and an occasional snake. It forms the foundation both visually and symbolically for the human figures and scenes in the upper band. The scrolls refer to the fertility of the earth durnig this presumed golden age brought about by Augustus. In the Tellus panel from the Ara Pacis, a seated matron is seen with two vivacious babies resting on her lap. It is debatable whether the woman is Tellus (mother earth), Pax (peace), Ceres (the goddess of grain), or the goddess Venus. Though her identity is uncertain, she unquestionably symbolizes the fruits of Pax Augusta. All sorts of animals living harmoniously together and the bountiful, blooming world, surround her.
Monday, October 21, 2019
Agriculture and Development †Biology Essay
Agriculture and Development – Biology Essay Free Online Research Papers Agriculture and Development Biology Essay Agriculture is in many parts of the world the main source of food and income of households. The role that agriculture plays in development has been debated during the last decades and the views about it are very diverse. Today, many authors consider agriculture as an essential factor for development and an important instrument for poverty alleviation. In my opinion access to land and water is an indispensable condition to ensure the livelihood of the poor. The current market conditions and the economic liberalisation process make it difficult for small farmers to compete with the international sphere, which led many people to move out of agriculture. Also, the market-driven economy has serious environmental consequences, which leads to the investment in the research of more sustainable agriculture methods. The question is if poor farmers will be able to acquire the new technologies and to adapt themselves to the new market conditions. In this essay larger participation of the rural poor, particularly of women, in the research of new agriculture technologies appears as a necessary condition for development. The case of Ghana is chosen in this essay to provide examples of how the main learning points of Chris Garforth’s presentation can be applied to real situations in the developing world. 1. Different views about Agriculture and Development. The theory about the role of agriculture in development presents currently different versions, as it was seen in Chris Garforth’s POD presentation. For some authors agriculture is a provider of raw material for the rest of the economic sectors and it is seen as a mere contributor to fuel economic development. This simplistic vision contrast with that of those who see agriculture as a essential instrument for industrialisation, allowing the transfer of capital to urban areas, stimulating the market and, thus, resulting in economic development. According to Norton (2004), most of economic theories of the last 50 years support industrialisation as the basis of economic development. Many governments supporting this theory saw liberalisation of agricultural goods as the key for economic growth, without taking into account the effect of dependency that the new system would create. Imports from foreign countries and long-term subsides, which stopped the development of some industrial sectors, created in developing countries strong links of dependency on others more powerful countries. Norton (2004) presents the case of Argentina as an example of this, whose imports substitution become one of the main important reason for the economic crisis that it is suffering today. One of the hottest topics related to the study of the agriculture’s role in development is if agriculture growth contributes or not to poverty reduction. Doward (2004) stresses two different views between those who think that it is necessary to find new alternative routes to poverty alleviation, due to the risks and constraints associated to agriculture, and those who think that agriculture should play a crucial role in economic growth and poverty reduction. For Kydd (2002) smallholder agriculture has a strategic importance, even though if economic development will result in a decline of the agriculture GDP and employment. In other words, when economic development occurs and poverty is reduced a decline of the agricultural sector can be seen, especially reflected through a fall in the labour. In Ghana for example, one of the main problems of agriculture is labour shortages, that have been exacerbated in the past few years by the migration of people trying to overcome poverty by moving out from agriculture (Duncan and Howell, 1992). The current literature about agriculture and development considers agriculture as an essential mean of poverty alleviation in the Third World, where about 720 millions of poor people live in rural areas (World Bank, in Norton, 2004). Norton (2004) argues that agriculture policies are important for governments since agriculture is the main source of food and income for many households in developing countries while also being connected with other sectors of the economy. The government of Ghana for example, within its development program ‘Vision 2020’, considers agriculture as the basis for rural development and poverty alleviation. Its Ministry of Food and Agriculture (MOFA) recognises the importance that some crops, like cassava, have currently for the livelihood of smallholder farmers and calls for the identification of the most agricultural deprived areas, especially in Northern Ghana, to receive priority for resources allocation and development (FAO, 2004). In spite of it, and according to the IFAD (2001), the development assistance to agriculture has declined from 20 percent in the late 80s to 12 percent in the early 2000s. This, also, had negative consequences on the research of new agricultural techniques for development and poverty alleviation. This situation has been worsened by the present global trade relations and by the market-driven agricultural research. 2. The effects of the market on rural agriculture. The case of Ghana. The global economy and liberalisation has deep effects on agriculture, and especially on the economy of smallholders farmers in the Third World. New market arrangements have brought opportunities for some farmers, but also had negative impact on others, who can not compete with the low prices established by a liberalised trade. An example of this is the case of Ghana, which as many countries in Africa, suffered from a strong economic crisis during the 80s. The new international terms of trade and the increase of the world interest rates, together with internal causes (such as one of the worst drought periods of its history and political mismanagement) led to disastrous consequences on its agriculture. Ghana used to produce 37 percent of the world cocoa, which enormously decreased due to the imposition of high tax and to the fall of the cocoa world prices. This reduced the exports earning, which had strong effects on public expenditure and on investment in new infrastructures. The mos t affected by the crisis were small cocoa producers, who could not compete with the prices established by the international market (Duncan and Howell, 1992). Poor farmers not only have to compete with risks associated to natural phenomena (as drought, floods, etc.), but also with the high transaction costs derived from liberalisation which make them more vulnerable in the economic context (Omano and Farrington, 2004). International market arrangements greatly influence the rural poor livelihoods as it establishes the rules that may not allow them to play in the market. These rules are designed to benefit exclusively large commercial farmers, instead of rural smallholders farmers who have experienced a reduction in their incomes. Food prices are intimately connected to the world market in areas where the poor live. 3. Agriculture research for development. Smallholder farmers produce food which will be consumed by the poor, so rural agriculture is a key for the livelihoods of the majority of the world’s poorest people (Kydd, 2002). Therefore, agriculture is a central question of development and it needs the adoption of convenient technologies for the different rural population’s needs. The idea is that smallholder farmers will be able to increase their capacities to improve their living standard through their own efforts. Thus, rather than addressing the symptoms should be better to address the causes of poverty through the application of more appropriate agriculture methods to rural farmers. The commercialisation of agriculture has also led to a set of agriculture practices completely different from those of the last century. These changes are basically imposed by the new market demands and by the producers’ attempts to answer it. The new agricultural patterns involved a change in the research methods carried out by private organisations searching for more efficient production practices. In this context, advances in biothecnology in the last decades have focused on profitable markets, especially orientated to large commercial agriculture. According to Norton, (2004), irrigation alone cannot be the only basis to supply food to an increasing world population. Important advances have been made in GMO as a new alternative to food production in order to feed future generations. But the questions is to which extent GMO technologies developed for large farmers will be adopted by small farmers at low cost (Kydd, 2002). Poor farmers in the developing world have been offered little possibilities to adopt new technologies on time because they did not have the right market conditions. This is the reason why in the last years most rural farmers did not enjoy the benefits of the advances in agricultural technology. This situation has led to think about new systems more relevant to smallholder farmers and guided by their demands. The present trend is that farmers and researchers work together in the development of new agriculture technologies. Norton (2004) calls it as â€Å"participatory technology development†, where the farmers acquire the control and play a crucial role on agricultural development. Like in the years before industrialisation, small farmers have again in his hands the tools for technological change in agriculture, although this new participatory process is still in its development stage. In Ghana some programs – such as the Agriculture Services Sector Investment Programme (AGSSIP) are designed to empower and strengthen grassroots organisations, such as co-operatives and farmer groups, in order to provide better services to their members and to facilitate technology adoption, by improving access to inputs and facilitating marketing. The objective of AGSSIP is that rural people earn their own livelihoods through agriculture as a way of poverty alleviation (FAO, 2004). 4. Gender considerations. Due to the essential role that women are playing today on the economy of the household in developing countries, agriculture development research cannot ignore gender issues when designing new programs. Women in many countries produce a large part of the food crops of the households and they are essential for the family’s food security (IFAD, 2001). In the case of South of Ghana for example, with the advance of commercial farming, particularly of cocoa, the production of food crop became women’s sole responsibility, which was seen before as an exclusive men’s task. Also, with the migration of men, the number of household headed by women increased. By contrast, in the North where crop farming possibilities were more limited and most of families were influenced by the Islam culture, the role of women remained confined to household tasks (Duncan and Howell, 1991). Development workers in the last decades used to consult only male farmers in their development research, leaving a gap in the research programs as they did not take into consideration women’s knowledge, in spite of their contribution on agriculture. However, today it is said that poverty alleviation and hunger will significantly depend on the extent to which women have access to natural resources (land and water) and to the decision-making process (Norton, 2004). 5. Land and water management. Sustainable Agriculture. The access to land and water has been a historical source of conflicts. For the rural poor the access to these natural resources have been key for their subsistence and still it is in many areas of the developing world. In a global social context with a growing population, new systems to improve the access to arable land and pure water are continuously being studied. According to Norton (2004), about 2.4 billion people depend on irrigated agriculture for jobs, food and income. In the past, water was used as an infinite resource, but today the main aquifers in the world are being over-exploited putting in danger the livelihoods of millions of people. Many irrigation programs have not being efficient and in some cases have contributed to the depletion of the water resources and the degradation of some systems. Today the water development efforts are focused on three areas: efficiency, equity and sustainability. Involving farmers in the design of water management policies become a necessary requisite for successful development (Norton, 2004). Land tenure is another key factor for the wellbeing of the rural household, especially since –according to the World Bank (World Development Report 1998-99, Chris Garforth’s POD Outline for Session 3)- the world’s percentages of arable land per head is currently falling. The extent to which an individual or family can access to land will determine their living standard. People who have access to land have more opportunities for sustainable livelihoods, so in this context, customary forms of holding and managing land strongly influence policy. An efficient land management would obtain maximum productivity of land while respecting the traditional and ecologically sound indigenous knowledge about land management, pest and diseases. In the last few decades, land management has not been sustainable due to the attempts to increase production at expense of the environment. Intensive agriculture compromises the interests of future generations in many ways: polluting soil, water and atmosphere, salinity and irrigation, loss of biodiversity and putting in danger people’s health trough the abuse of fertilisers and pesticides (Shepherd, 1998). Although the use of pesticides has a minimal impact on people from developed countries, it emerges as a problem in developing nations, where its consumption is at low levels but highly concentrated. Children are particularly sensitive to the use of toxic products. According to Norton, (2004) there are 10.000 deaths per year related to use of pesticides. Due to this situation, research in agriculture are focused in developing new ways of feeding the world without damaging the environment and people’s health. The recommendations about more sustainable practices reject the use of industrial production methods, the involvement of farmers in the research and the incorporation of active resource conservation methods (Sepherd, 1998). But the reality is that still the global market arrangements represent important constraints to sustainable agriculture. Even when have been attempts toward more ecological practices, such as organic farms, the question is whether rural people will be able to adopt new methods to compete in the market. It will need the provision of subsidies to the rural smallholders, and particularly in those areas where the use of fertilisers is very high. Also, it will be necessary to transfer to the poor knowledge and infrastructure, and providing them with the right conditions in the market (Shepherd, 1998). Conclusion. Agriculture is still the main source of income of many rural areas in the Third World, so it should be the centre of programs for development. The extent to people have access to land and water sources will determine the wellbeing of rural families. Agriculture, therefore is still an essential factor to poverty alleviation and development. When a country can be self-reliant in its own raw materials for export and industrialisation it is ensured part of its own development. The dependency links that developing countries have with more powerful nations, since their colonial era, it is one of the deep-rooted causes of its underdevelopment. The current international market arrangements and the liberalisation process have a strong impact on the rural farmer. They cannot compete with the cheap prices imposed by large commercial farmers. New alternatives for the poor, like fair-trade, should be supported by national governments and international organisations, as WTO and the IMF. Prices of production should be real according to the production cost for small farmers. The new advances in technologies for sustainable agriculture will not be effective if they cannot be adopted by rural farmers in the Third World. Its adoption requires to provide them with the right market conditions, knowledge and infrastructures, otherwise rural people will keep exploiting in unsustainable ways the local natural resources, as the only way of survival. Sustainable agriculture only will be possible if it takes into account rural farmers’ knowledge about land management. Therefore, their participation is a necessary requisite in the research of new agriculture technologies. Moreover, women’s role in agriculture is an essential factor which has to be taken into consideration when designing new development programs for agriculture development. References. Bibliography. Duncan, A. Howell, J. (1992). Structural Adjustment and the African Farmer. London and Portsmouth: ODI, James Currey Ltd. Heinemann Educational Books, Inc. Garforth, C. (2004). POD Outline for Session 3: Agriculture, Economic Growth and Rural Development. Perspective on Development. International and Rural Development Department. Reading University. Norton, R. D. (2004). Agricultural Development Policy. Concepts and Experiences. Chichester: FAO John Wiley Sons, Ltd. Sepherd, A. (1998). Sustainable Rural Development. London New York: MacMillann Press Ltd. St. Martin’s Press, Inc. Webs. Doward, A. (2004). Agricultural growth, poverty and institutions: rethinking policy. id21.org/society/s5cad1g1.html (Viewed in April 2004) FAO (2004). Ghana. Case Study. fao.org/waicent/portal/outreach/livelihoods/en/ghana-en.html (Viewed in April 2004) IFAD (2001). Rural Poverty Report 2001: The Challenge of Ending Rural Poverty. ifad.org/poverty/index.htm (Viewed in April 2004) Kydd, J. (2002). ODI. Agriculture and Rural Livelihoods: Is Globalisation opening or blocking path out or Rural Poverty? Network Paper No. 121. odi.org/uk/agreu/papers/agrenpaper/121.pdf (Viewed in April 2004) Omano, S. W. Farrington, J. (2004). ODI. Policy Research and African Agriculture: Time for a Dose of Reality? No. 90. http//:www.odi.org.uk/nrp/90.pdf (Viewed in April 2004) Research Papers on Agriculture and Development - Biology EssayPETSTEL analysis of IndiaInfluences of Socio-Economic Status of Married MalesAssess the importance of Nationalism 1815-1850 EuropeAnalysis of Ebay Expanding into AsiaOpen Architechture a white paperDefinition of Export QuotasRelationship between Media Coverage and Social andGenetic EngineeringBionic Assembly System: A New Concept of SelfTwilight of the UAW
Sunday, October 20, 2019
Battle of Lutzen in the Thirty Years War
Battle of Lutzen in the Thirty Years' War Battle of Lutzen - Conflict: The Battle of Lutzen was fought during the Thirty Years War (1618-1648). Armies Commanders: Protestants Gustavus AdolphusBernhard of Saxe-WeimarDodo Knyphausen12,800 infantry, 6,200 cavalry, 60 guns Catholics Albrecht von WallensteinGottfried zu PappenheimHeinrich Holck13,000 infantry, 9,000 cavalry, 24 guns Battle of Lutzen - Date: The armies clashed at Lutzen on November 16, 1632. Battle of Lutzen - Background: With the early onset of winter weather in November 1632, Catholic commander Albrecht von Wallenstein elected to move towards Leipzeig believing that the campaign season had concluded and that further operations would not be possible. Splitting his army, he sent the corps of General Gottfried zu Pappenheim on ahead while he marched with the main army. Not to be discouraged by the weather, King Gustavus Adolphus of Sweden decided to strike a decisive blow with his Protestant army near a stream known as the Rippach where he believed von Wallensteins force was encamped. Battle of Lutzen - Moving to Battle: Departing camp early on the morning of November 15, Gustavus Adolphus army approached the Rippach and encountered a small force left behind by von Wallenstein. Though this detachment was easily overpowered, it delayed the Protestant army by a few hours. Alerted to the enemys approach, von Wallenstein issued recall orders to Pappenheim and assumed a defensive position along the Lutzen-Leipzig road. Anchoring his right flank on a hill with the bulk of his artillery, his men quickly entrenched. Due to the delay, Gustavus Adolphus army was behind schedule and encamped a few miles away. Battle of Lutzen - Fighting Begins: On the morning of November 16, the Protestant troops advanced to a position east of Lutzen and formed for battle. Due to heavy morning fog, their deployment was not completed until around 11:00 AM. Assessing the Catholic position, Gustavus Adolphus ordered his cavalry to assault von Wallensteins open left flank, while the Swedish infantry attacked the enemys center and right. Surging forward, the Protestant cavalry quickly gained the upper hand, with Colonel Torsten Stalhandskes Finnish Hakkapeliitta cavalry playing a decisive role. Battle of Lutzen - A Costly Victory: As the Protestant cavalry was about to turn the Catholic flank, Pappenheim arrived on the field and charged into the fight with 2,000-3,000 horsemen ending the imminent threat. Riding forward, Pappenheim was struck by a small cannonball and mortally wounded. Fighting continued in this area as both commanders fed reserves into the fight. Around 1:00 PM, Gustavus Adolphus led a charge into the fray. Becoming separated in the smoke of battle, he was struck down and killed. His fate remained unknown until his rider-less horse was seen running between the lines. This sight halted the Swedish advance and led to a rapid search of the field which located the kings body. Placed in an artillery cart, it was secretly taken from the field lest the army become disheartened by their leaders death. In the center, the Swedish infantry assaulted von Wallensteins entrenched position with disastrous results. Repulsed on all fronts, their broken formations began streaming back with the situation made worse by rumors of the kings death. Reaching their original position, they were calmed by the actions of the royal preacher, Jakob Fabricius, and the presence of Generalmajor Dodo Knyphausens reserves. As the men rallied, Bernhard of Saxe-Weimar, Gustavus Adolphus second-in-command, took over leadership of the army. Though Bernhard initially wished to keep the kings death a secret, news of his fate quickly spread through the ranks. Rather than causing to the army to collapse as Bernhard feared, the kings death galvanized the men and yells of They have killed the King! Avenge the King! swept through the ranks. With their lines re-formed, the Swedish infantry swept forward and again assaulted von Wallensteins trenches. In a bitter fight, they succeeded in capturing the hill and the Catholic artillery. With his situation rapidly deteriorating, von Wallenstein began retreating. Around 6:00 PM, Pappenheims infantry (3,000-4,000 men) arrived on the field. Ignoring their requests to attack, von Wallenstein used this force to screen his retreat towards Leipzig. Battle of Lutzen - Aftermath: The fighting at Lutzen cost the Protestants around 5,000 killed and wounded, while Catholic losses were approximately 6,000. While the battle was a victory for the Protestants and ended the Catholic threat to Saxony, it cost them their most able and unifying commander in Gustavus Adolphus. With the kings death, the Protestant war effort in Germany began to lose focus and the fighting continued another sixteen years until the Peace of Westphalia. Selected Sources History of War: Battle of LutzenGustavus Adolphus Sweden
Saturday, October 19, 2019
Cognition, language, and brain Essay Example | Topics and Well Written Essays - 2000 words
Cognition, language, and brain - Essay Example As the brain develops, language skills are modified to a significant degree depending on particular outside influences. Therefore, â€Å"both genetic and environmental influences may contribute in varying degrees to the final shaping of the dyslexic brain†(Lishman, 2003). Dyslexia cannot be diagnosed or understood as a specific disorder which has led to misunderstandings within the scientific community and the public regarding the condition which this discussion attempts to clarify. An example of the non-specific nature of dyslexia centers on an argument regarding which part of the brain most affects the condition. Though it is widely accepted that the left hemisphere of the brain controls verbal functions and positron emission tomography scans have confirmed this assessment, others, such as Price et al (1998) hypothesize that â€Å"reading aloud involves a large number of cognitive processes including, at a minimum, visual and orthographic analysis, phonological retrieval, articulation, and hearing the sound of the spoken word†(Price et al, 1998, p. 305). Price went on to say deficits associated with dyslexia â€Å"might be the hallmarks of exclusive reliance on a right-hemisphere†¦the reading of dyslexics rely exclusively on a right-hemisphere†(Price et al, 1998, p. 305). Some type of right-hemisphere mechanism involving reading comprehension is necessary to be able to read aloud if any one of the left-sided functions such as processing s tages, orthographic, semantic or phonological functions is not capable of operating normally. That the emotional and creative side of the brain plays some type of role in reading comprehension can hardly be disputed. For example, if a child is upset or they prefer to draw animal figures from letters instead of pronouncing them, the ability to read coherently may be slowed somewhat as compared to classmates. Dyslexia concerns many facets of brain function. However, it
Friday, October 18, 2019
The Fashion Industry Did Not Exploit Their Labour Base Essay
The Fashion Industry Did Not Exploit Their Labour Base - Essay Example The essay "The Fashion Industry Did Not Exploit Their Labour Base" concerns the fashion industry and the question of exploitation. At eleven for a child to be doing this instead of schooling is a most despicable thought; however we also need to look at this situation through young Mantheesh’s eyes, for her this work brings home Rs. 40 or 60p per day; much better than what she could’ve done in her native war torn Sri Lanka or in some refugee camp in India. These 60p are better than anything else that life has doled out to her so far, her only hope, and when the protest over the unfairness of child labour reaches this young child; neither does she understand the debate nor does she feel that its fair for people to take away from her the last modicum of hope that this job allows her. These are the questions that this essay will attempt to answer. Let’s start by peeping into the conditions of child labour. According to UNICEF, there are an estimated 250 million child ren aged 5 to 17 in child labour worldwide, excluding child domestic labour. In terms of geographical distribution, the Asia-Pacific region harbours the largest absolute number of working children between the ages of 5 and 14, with some 127 million, or 60 per cent of the world total. Sub-Saharan Africa is second with 48 million, or 23 per cent of the total, followed by Latin America and the Caribbean with 17.4 million, or 8 per cent, and the Middle East and North Africa with 13.4 million, or 6 per cen. Some of the countries are India.... In terms of geographical distribution, the Asia-Pacific region harbours the largest absolute number of working children between the ages of 5 and 14, with some 127 million, or 60 per cent of the world total. Sub-Saharan Africa is second with 48 million, or 23 per cent of the total, followed by Latin America and the Caribbean with 17.4 million, or 8 per cent, and the Middle East and North Africa with 13.4 million, or 6 per cent ( ILO, 5.1.2008). Some of the countries which are battling this issue are India, Bangladesh, Pakistan, Indonesia, Philippines, China, Nepal, Malawi, Kenya, Zimbabwe,( Andvig, J.C. 5.1.2009) ( IPEC, 5.1.2009) Tanzania, Ethiopia Morocco, Egypt, Brazil, Argentina. The fact that most of these countries are developing nations is where the similarity ends, on one hand we have a country like Ethiopia teetering on the brinks of a civil war and on the other we have a India touted to be the economic super power of the next generation; yet both countries haven't been able to curb the rampant flouting of child labour laws. So can we safely conclude that child labour is only a problem of developing countries Not really, even the United States has its own issue of child farm workers (AFT, 5.1.2009). In order to take a closer look at this problem, we need to first understand it. "Child labor" is, generally speaking, work for children that harms them or exploits them in some way (physically, mentally, morally, or by blocking access to education). BUT: There is no universally accepted definition of "child labor". Varying definitions of the term are used by international organizations, non-governmental organizations, trade unions and other interest groups. Writers and speakers don't always specify what definition they are using, and that often
Scania - Understanding organisations Essay Example | Topics and Well Written Essays - 3000 words
Scania - Understanding organisations - Essay Example The case of Scania has been considered to understand the events and decisions that have been made and the reasons for which these decisions have been made, the changes implemented and from a learning perspective I would also explore the difficulties of the management policies in overcoming defensive routines of staff and the managers. The organisational design and management issues, the strategies for change as well as the general professional and managerial mindset of the staff and managers are considered and analysed here and I also explore the team working development which has been introduced in the SAN Angers plant. The cultural and political factors are considered in the discussion that seems to affect the professional dynamics of the organisation. The role of the stakeholders including senior managers and shop floor personnel and the implications of management and leadership styles show how theories could be important in throwing light on the impact of personalities and viewpo ints on the general management of business and companies. The motivation levels at Scania Angers have also been studied and organisational change has been discussed in terms of the challenges faced by the organisation and the theories that have been used by the organisation in practice show how Scania Angers may be functioning at an organisational level. Using Scania as an example, we would discuss how a similar change could be described or affected in other similar organisations. The main approach of this study is to analyse the use or application of theories in organisational practice and the challenges faced by Scania could be addressed more effectively by understanding not just the implementation of theories in practice but also motivation levels of staff, the role and perceptions of managers and stakeholders, organisational designs and team working developments. This study involves a critical analysis of theories used in practice within organisations and how the
Thursday, October 17, 2019
Service Marketing Essay Example | Topics and Well Written Essays - 2500 words - 1
Service Marketing - Essay Example From the report it is clear that a service is an activity or benefit that one party can offer to another which is essentially intangible and does not result in the ownership of anything. In the goods continuum the distinction between products and services is far from clear as one traverses from tangibility to intangibility. The lack of distinction is particularly prominent mid way through this continuum where tangibility and intangibility may gel indistinguishably. However the fact remains that the tangibility dimension of the offering is a critical distinction and can identify a service offering. For instance, in a hotel stay once the stay has been completed nothing tangible is left with customer for preservation except experience, hence hotel stay is a typical person processing service offering. This study stresses that services are not physical. They can neither be possessed nor seen or felt. The tangible indicators of service are few, if any, and they are not good enough indicators to reduce consumer uncertainty. This increases the work of service marketers who must diligently determine how to effectively communicate the service process and the final outcome the consumer will receive -most importantly the quality. The production of the services can't be separated from its consumption. For instance, the production and consumption of a medical examination happen together. One can not store services for future use.
Congenital Adrenal Hyperplasia Term Paper Example | Topics and Well Written Essays - 1250 words
Congenital Adrenal Hyperplasia - Term Paper Example pag,). In humans, the gene coding for 21-hydroxylase is located at the major histocompatibility complex on chromosome 6p21.3. Partial deletions, as well as point missense and nonsense mutations, have been found to cause such chromosomal aberrations (Riepe, et al. 2563). Clinical Presentation Early diagnosis is more difficult in cases of CAH because no physical symptoms are present at birth. Thus, the presence of the condition is missed until the age of puberty is reached, when the expected physical changes are not met. As an individual with CAH ages, ambiguous genitalia, accelerated growth, and premature skeletal maturation are seen, due to excessive adrenal androgen production. In males, enlarged penises are noticed even during pre-puberty. On the other hand, such genital enlargement is seen in females as clitoromegaly. In addition, females with CAH present with oligomenorrhea, hirsutism, absence of secondary sexual characteristics, and/or fertility. Because of these features, femal es with undiagnosed CAH are nurtured as males. Among males, severe cases cause severe symptoms such as failure to thrive, recurrent vomiting, dehydration, hypotension, hyponatremia, hyperkalemia, and shock. However, 11-hydroxylase and 17-alpha-hydroxylase-deficient patients may be hypokalemic, and Electrolyte imbalance is caused by adrenal insufficiency, while hypoglycemia and hypotension results from cortisol deficiency (Haldeman-Englert n. pag.; Wilson n. pag.). Treatment In managing patients with CAH, a comprehensive approach on treatment is needed, since the condition does not only affect the physical, but the emotional and psychological aspects of the patient as well. It should, thus, involve medical therapy, surgical intervention and lifestyle modifications. Medical intervention Primarily, the role of medical intervention is to replace glucocorticoids and mineralocorticoids, as well as to decrease the serum levels of virilizing precursor hormones. However, certain medications are necessary to avoid fatal consequences resulting from the symptoms of adrenal insufficiency (Wilson n. pag.). 1.) Corticoids Physiologically, glucocorticoids and mineralocorticoids released by adrenal glands in response to increased levels of adrenocorticotropin hormone (ACTH) are important in regulating normal glucose and electrolyte levels, respectively. In CAH therapy, glucocorticoids are given to suppress the perpetually elevated ACTH levels and adrenal androgen production, while mineralocorticoid therapy reduces angiotensin II levels that regulate blood pressure. All healthcare providers or caretakers of CAH patients should always have an injectable glucocorticoid at hand in case of rapid decline. These medications are safe, since they are normal products of the body, they do not have contraindications, and they only have minimal drug-drug interactions (Wilson n. pag.). Normally, increased levels of cortisol are apparent among individuals who experience stress or illness. Ho wever, as mentioned above, such response is absent among CAH patients due to lack of enzymes needed to produce cortisol. Thus, among CAH individuals, in cases of stress or illnesses, stress dosages of hydrocortisone (50-100 mg/m2 or 1-2
Wednesday, October 16, 2019
Service Marketing Essay Example | Topics and Well Written Essays - 2500 words - 1
Service Marketing - Essay Example From the report it is clear that a service is an activity or benefit that one party can offer to another which is essentially intangible and does not result in the ownership of anything. In the goods continuum the distinction between products and services is far from clear as one traverses from tangibility to intangibility. The lack of distinction is particularly prominent mid way through this continuum where tangibility and intangibility may gel indistinguishably. However the fact remains that the tangibility dimension of the offering is a critical distinction and can identify a service offering. For instance, in a hotel stay once the stay has been completed nothing tangible is left with customer for preservation except experience, hence hotel stay is a typical person processing service offering. This study stresses that services are not physical. They can neither be possessed nor seen or felt. The tangible indicators of service are few, if any, and they are not good enough indicators to reduce consumer uncertainty. This increases the work of service marketers who must diligently determine how to effectively communicate the service process and the final outcome the consumer will receive -most importantly the quality. The production of the services can't be separated from its consumption. For instance, the production and consumption of a medical examination happen together. One can not store services for future use.
Tuesday, October 15, 2019
The Federal Reserve Essay Example | Topics and Well Written Essays - 1250 words - 1
The Federal Reserve - Essay Example As compared to the employment, the self employed or an entrepreneur in general, have to invest some amount, which is said capital, and it is the fate of the self employed that it may succeed or fail, whereas in the employment there is no risk for the investment, as there is no investment required, all the employee has just to do is to fulfill the job requirement and to get a an earning at fixed rate. The amount to be invested in business has risk, as above mentioned, but the business has too much attraction, because it has good returns, and if comparable by the employment, the investor may receive many multiples of the salary in a single period. A return on money received from the business, that is the profit in general determines the business efficiency. But the question is that, is it necessary to invest money into a company and purchasing the shares? Can’t it be invested in the bank to get the interest income on that? This question has been evaluated in the context of the g iven topic, and will help in determining the criticalness of various securities in the financial markets. Ordinary shares Ordinary shares are the main source of capital for any public company, the other sources of capital is the debt etc. Ordinary shares provide the money that the shareholders pay to the company and in return receive the dividend, and the rate of dividend depends on the performance of the company. The stock market is the market of corporate securities, but the corporations may issue stock; it is the stock that provides initial capital for a company and the limited liability is the key factor in the corporate sector (J Richard, 1998). A company with healthy profits will probably go for good dividend yield, whereas the company suffering from loss may not issue dividends to the shareholders. It should be kept into consideration that the company will only share the profit, and the shareholders are not supposed to compensate on the behalf of the loss of the company. How it generates the economic wealth A person may have en economic role in terms of economics, he may be dependant or independent, he may be a surplus unit or deficit unit. A deficit unit is anyone who has more money than he spends, and hence he can utilize the money to get more money. This money can be given to those who are deficit unit, or those who may need it, which is the function of stock exchanges and the credit unions. So those who have more money can spend their money into the stock markets and can receive the return on it. This rate of return depends on the performance of the company. When a person receive an income from the shares, that is called the dividend, the person has more to spend, which can be given to deficit units at a certain rate of return, and the deficit unit may start his/her own economic activity, that may be any businesses, but without this extra money given by surplus unit to the deficit unit through purchasing shares or purchasing government securities to the deficit unit, helps the deficit unit to pass some threshold, for the entrepreneur it may be the heavy capital required to start a business, or the government which want the people savings in their reserves which is going to be discussed later. Since the more economic activity can be generated by this security, economy can developed and the employment rate may increase, and the more the volume of economic activity, the more the taxes are accumulated, which in turn provide good infrastructure to the general
Monday, October 14, 2019
Teacher Certification Essay Example for Free
Teacher Certification Essay The whole issue of teacher certification is one of great importance and when discussed must be done in a delicate and thoughtful manner. The reason for this increasing importance is because the education of our nations teachers is important to the creation of an ideal education system, which is one of the goals of our national government and State governments. Over the years the whole educational reform movement has become an increasingly hot topic. Reforms in the administration of school systems and in curriculum theory and practice have been asked for and a4re currently being put into effect. Recently, reform of the education of teachers is being added to the lo9ng list of reforms needed. Many reform activists feel that direct changes need to be made on the methods of training and certifying the teachers of our country. Before looking at the reform movement, however, one must first look at the so called problem of inconsistency in teacher certification. In our country today there is a general consistency among the requirements for state certification of teachers. Most states require their teacher institutions to establish a teacher education program that includes coursework and fieldwork. The coursework includes those courses that prepare a student to become a professional teacher and those classes that include major and minor fields of specialization. Fieldwork, which is probably the most important of the two forms of requirements, involves the individual interested in being a teacher going out and observing, practicing, and preparing to enter the educational world as an instructor. There is no argument that all schools in every state has these basic requirements of teacher certification. However, the inconsistency lies within how the numerous institutions go about in teaching these requirements. Each post-secondary school is given the jurisdiction to choose how they are going to go about meeting these basic teacher certification requirements. For example, many states require a different amount of field hours. An inconsistency can also be seen in the various models of teacher education that are used throughout the nation. Two education researchers, Howey and Zimpher conducted a study on this variety of models in 1989. They came up with three different attempts of teacher training. The first, known as the teachers college model, involves certification students entering a separate school within a university that is a teachers college. The second approach is called the liberal arts model by the researchers, and is a method that requires and individual to become specialized in a certain liberal arts subject in order to create capable and cultured human beings. The third and final model discussed by Howley and Zimpher is entitled the competency-based model. This method trains individuals in the arts o motivation and understanding. As one can see by this case study, there have been a variety of approaches to teacher certification. An inconsistency can similarly be detected by looking at the various new and innovative ideas in teacher education. Among these include the alternative route, a topic discussed earlier, and the five-year degree program, and issue to be discussed shortly in this section. Altogether, one could state that there is some inconsistency in teacher certification, and this inconsistency brings about a small problem in the educational spectrum of our world. In my opinion, there is no national and universal set of requirements for teacher certification. The variety of different methods and forms of teacher education programs is causing an inconsistency in how teachers are being trained nationwide. When this is realized, the whole issue of reforming teacher certification becomes very relevant to our society. As stated earlier, reforms in the training of future teachers are beginning to really be requested by the general public. Various groups have met to discuss the various issues surrounding the reform movement. Among the most notable are the Holmes Group, the Association of American Colleges of Teacher Education (AACTE), the Education Commission of the States (ECS), and Goodlads group. These various groups and many others have come up with a variety of reforms and new standards that most likely should and will be integrated into the current teacher certification requirements. One certain similarity that all of these recommendations have with each other is that they all call for higher regulations and an increase in the education of future teachers. Many of the group0s called for an increase in providing individuals knowledge on the profession of teachi8ng, and some groups also called for a more intense training in the various fields under a liberal arts education. Increases in the amount of fieldwork required seems to also be a major issue discussed by the reform groups. The issue of selection under standardized testing was also discussed, with respect to increasing the required SAT/ACT or GRE scores. Finally, the research groups came up with various new ideas involving the creation of professional teaching schools or tiered systems that would require a teacher to go through more training even after they received their bachelors degree. All in all, these reform groups have come up with some very unique and interesting ideas to change teacher certification for the better. It is the best interest of our nation to make changes in our current teacher education program, for, in this case, change would be for the better. To conclude, I would like to take a brief but in depth look at an innovative idea established by the Maine State Department of Education in conjunction with the University of Southern Maine. This program, entitled the Extended Teacher Education Program, involves future teachers continuing on for a fifth year after completing their undergraduate studies. This fifth year involves the individual taking part in internships. These internships give the future teachers a chance at more fieldwork in order to gain more experiences before they become full fledged teachers. Nonetheless, the results of the initial year of the program seem to indicate that the idea around this new program is a successful one. Those individuals who took part in the program obtained various skills and understandings that all ideal teachers should have. The excellent outcomes of this program leads one to believe that it might be a good idea to implement this structure nationwide. The idea of creating professional schools for teachers has become a popular one in recent times. After all if doctors and lawyers have to go to a professional school, then shouldnt teachers as well? In conclusion, the issue of teacher training and certification brings up many questions, especially in reference to reforming. The inconsistent and somewhat outdated education of teachers today needs change, in order to create an ideal educational system. Numerous reforms have been discussed and recommended by various research organizations and now is the time to take action and implement some of these reforms before our education systems continue to fall downwards into the depths of degradation. Change I needed and change must come now.
Sunday, October 13, 2019
What Is The Cost Of Capital Structure Finance Essay
What Is The Cost Of Capital Structure Finance Essay The cost of capital is the cost of a companys funds (both debt and equity), or, from an investors point of view the expected return on a portfolio of all the companys existing securities. It is used to evaluate new projects of a company as it is the minimum return that investors expect for providing capital to the company, thus setting a benchmark that a new project has to meet. In order to be a worthwhile investment, the expected return on equity is greater than the cost of capital. The capital cost of the return to capital is expected to earn in an alternative investment with similar risk. If a project similar to the average risk to the companys business, it is reasonable to use the companys average cost of capital underlying the ratings. The companys securities are typically in the debt and equity, the expected, both because of the cost of debt and equity costs of determining the companys capital. The cost of debt is relatively simple to calculate, since the interest rate is paid. In practice, the interest rates paid by the company modeled as a risk-free rate plus a risk component (risk premium), which also includes the expected probability (and the amount of recovery given default). For companies with similar credit risk or the interest rate is largely exogenous (to be explained by the use of external in this context). The cost of equity is more challenging to calculate as capital is not a fixed return to investors. Than the cost of the loan, the cost of equity, broadly defined as the estimated risk-adjusted returns that investors require, which yields a barely known. The cost of equity, therefore, conclude by comparing the investment and other investment (like) with similar risk profiles to determine the market cost of equity. If the cost of debt and equity costs have been established, a combination of the weighted average cost of capital (WACC), calculated. The WACC is then used to estimate the discount rate for project cash flows. In this paper I will explain, first, 1 chapter, the capital as well. From the second chapter, Sources of Capital, and finally, 3 chapter, capital will be explained. CAPITAL Capital, the most basic conditions for the money. All companies need capital to purchase assets and maintain operations. Corporate capital is available in two main forms: debt and equity. Debt refers to loans and other loans to be repaid in the future, usually with interest. The capital, however, generally do not impose a direct obligation to repay the amount. Instead, investors have a rule in the form of ownership shares in the company. The capital, wage describes the various means by which the capital of the people who save money for businesses that need money. Such transfers can be direct, which means that a company sells shares or bonds directly to investors, who own a business in return. Transfer of capital can also be made indirectly by investment bank or a financial intermediary such as a bank, broker or an insurance company. The indirect transfer through an investment bank, is selling the business assets of the bank, which in turn sells them to investors. In other words, the easy flow of capital investment bank. The indirect through a financial intermediary, however, a new form of capital, which is actually created. The intermediary bank or fund raise capital to invest and issue its own securities exchange. Then the broker uses the funds to buy stocks and bonds of companies. 1.1 Capital Structure Because of the small business capital is expensive, it is particularly important for small business owners to define the structure of the target companys capital. The share capital structure of debt and equity is achieved. Trade-offs are involved: increases the risk of liability to the companys revenue, which tends to reduce the companys stock. However, the debt lead to a higher expected return, which tends to increase a companys share price. As Brigham stated, The optimal capital structure is the one that strikes a balance between risk and return and thereby maximizes the price of shares and simultaneously reduce the cost of capital. Capital structure decision depends on several factors. One of the companys business risks and risks related to operations, which the company participates. Companies in the hazardous industries, such as high technology, lower than the optimal level of debt than other firms. Another factor in the companys capital structure involves tax situation. Since interest on debt is tax deductible, debt is usually better to use the company tax rate is high, and not many are able to protect income from taxation. The third important factor is the companys financial flexibility, or ability to raise capital in less than ideal conditions. The companies that are able to maintain a strong balance sheet resources generally can be more reasonable terms as other companies in the economic downturn. Brigham suggested that each company has a power reserve borrowing to defend themselves in the future. In general, tends to a stable level of sales, assets, collateral for loans to be good, and the high growth rate using a higher debt than other firms. On the other hand, the companies that have conservative management, high profitability, or poor credit ratings that they want to rely on equity instead. 1.2 The Modigliani and Miller Theorem 1.2.1 Definition The Modigliani-Miller theorem states that if there are no taxes, bankruptcy costs and asymmetric information, the efficient market, the companys value affects how it is financed with the equity shares or bonds, or a combination thereof, or what is the dividend policy. The kit is also known as capital structure is essentially irrelevant. A number of principles underlying rate, which agrees with the adoption of the tax and no taxation. The two main principle is that, firstly, if there is no tax, thus increasing the benefits of power does not create value, and second, that if there are taxes, the benefits in the form of interest tax shield occurs when you leverage and / or elevated. The price compares to the two companies one unlevered (ie, funded entirely of their own capital) and the second levered (ie, partially financed by equity and partly debt) and says that if the same value in all other ways the two companies are identical. For example, why it must be true, it is assumed that an investor buys a company or a levered or unlevered company. The investor buys shares in the companys levered or unlevered firm buys shares in a loan of an equivalent amount of money borrowed from the levered company. In both cases, the return on investment should be the same. Thus, the cost of the levered firm is the same as the unlevered firm minus the price of borrowed money, with the value of the levered companys debt. There is an implicit assumption that the investors cost of borrowing money is the same as the levered company, which is not necessarily true in the presence of asymmetric information, or in the absence of efficient markets. A company that is risky debt, as debt-equity ratio increases, the weighted average cost of capital is constant, but there is a higher return on equity, due to a higher risk for shareholders in the companys debt. 1.2.2 Advantages and Disadvantages of Modigliani and Millers Theorem Advantages: In practice, this can be said that none of the assumptions are met in the real world, but we teach the lot, that capital structure is important because one or more assumptions will be violated. Using mail-equations, economists find the determinant of an optimal capital structure and see how these factors affect the optimal capital structure. Disadvantages: Modigliani-Miller theorem, which justifies virtually unlimited economic power has been used to increase the economic and financial activities. However, its use also led to increased complexity, lack of transparency and greater risk and uncertainty in these activities. The global financial crisis of 2008, which saw a number of highly leveraged investment banks, has been partly attributed to the excessive leverage concepts. SOURCES OF CAPITAL 2.1 Debt Capital Small businesses can obtain debt capital from various sources. These sources can be divided into two broad categories, public and private sources. Private sources of debt financing according to W. Keith Schilit in The Entrepreneurs Guide for Preparing a winning business plan and venture capital, such as friends and relatives, banks, credit unions, consumer finance, commercial finance companies, trade financing, insurance, factor companies and leasing companies. Public sources of debt financing from a number of loans granted by the state and federal governments to support small businesses. Many types of debt financing to small businesses, including a private placement of bonds, convertible debentures, industrial development bonds and leveraged buyouts, but by far the most common type of debt financing in the conventional loan. Credits include the long-term (longer than a year) and short-term (maturity of less than two years), or the loan (for more immediate borrowing needs). These may be approved by the signatory, as the government, or secured to the property, debts, stocks, savings, life insurance, stocks and bonds, and purchased the product on the loan. In the evaluation of a small company, a loan, Jennifer Lindsey said in his book Guide to the contractor in the capital, the lenders prefer to have a two-year operating history, stable management team, a desirable niche in the industry, market share growth, strong cash flow and the ability to get short-term loan to supplement the funding from other sources. Most lenders require a small business owner to prepare a full proposal for a loan or credit application. The lender will then determine the application taking into account several factors. For example, the lender will consider the small business credit card, and look for evidence of their ability to repay the loan in the form of previous earnings or revenue forecasts. The lender will also consider how much equity in the business, and that management has sufficient experience and skills to function effectively. Finally, the lender seeks to determine whether the small firms in a reasonable amount of guarantee for the loan. 2.1.1 Cost of Debt The cost of debt is estimated by the risk-free interest rate bonds, whose length is equal to the yield curve for corporate debt and then add a default premium. This is the standard premium will increase in debt increases (since all else being equal, all other factors, increased the risk of increasing debt). Since in most cases, the debt burden of the deductible expense is the cost of after-tax cost of debt is expected to be comparable to the cost of equity (after tax). Thus, profitable companies, is debt at a discount. The formula can be written as: (Rf + credit risk rate)(1-T) where T is the corporate tax rate and Rf is the risk free rate. 2.2 Equity Capital Equity capital for small businesses is also available from many sources. Some possible sources of equity include the Farmer family and friends, private investors (the general practitioner, to groups of local business owners to wealthy entrepreneurs known as angels), employees, customers and suppliers, former employers, venture capital companies , to investment banking firms, insurance companies, corporations, and government-backed Small Business Investment Corporation (SBIC). There are two main methods that small businesses use to obtain equity finance: the private equity investors or venture capital firms, public stock issues. The private placement is easier and more common for young companies or start-ups. Even if the stock still closed with a number of federal and state securities laws, does not require formal registration with the Securities and Exchange Commission. The main requirements for private equity that the company did not advertise the offer, and you have to do the transaction directly to the customer. However, the public stock offering includes a lengthy and costly registration process. Indeed, it charges, the public stock offering in more than 20 percent of the capital. As a result, public stock offerings are generally a better choice for mature companies, as a starter. Bids may benefit from intervention maintaining control of a small company, but also expand the participation of different groups of investors, but by concentrating it in the hands of a venture capital company. 2.2.1 Cost of Equity Cost of equity = Risk free rate of return + Premium expected for risk Expected Return The expected return (or required rate of return for investors) can be calculated with the dividend capitalization model, which is: That equation is also seen as: Expected Return = dividend yield + growth rate of dividends. THE COST OF CAPITAL The capital required for a productive, as with any other factor is that there is a cost by Eugene F. Brighams book Fundamentals of Financial Management. In this case, the cost of debt capital the interest which the company must pay to borrow. In the capital cost shall be repaid to investors in dividends and capital gains. Since the amount of available capital is often limited, it is distributed in various companies on the basis of price. Business is the most profitable investment opportunities are willing and able to pay most of the capital and thus attract out inefficient firms, or those for which such goods are not in demand, Brigham explained. The good thing is that in most industrialized countries (eg USA, Germany, Japan, Britain, etc.), there are agencies that help individuals or groups of loans on favorable terms. Among those eligible for such assistance to small businesses, certain minorities, and the company is willing to build plants in areas with high unemployment. As usual, the cost of capital for small businesses tend to be higher than the big, established companies. Because of the higher risk for both service providers and charge a higher price for equity funds. Several researchers found that small stock portfolios have consistently achieved the higher average returns than large company stocks, it is called the small business impact. In fact, its bad news for small firms, where small companies effect means that the market requires a higher return on capital stocks of small companies than otherwise similar stocks of large companies. Therefore, the cost of equity is higher for small businesses. The weighted average cost of capital of the companys return that investors expect the various debt and equity issued by the company, according to Richard A. Brealey and Stewart C. Myers, in his book, Principles of Corporate Finance. Table 1 Cost of Capital 3.1 Capital Asset Pricing Model Capital Asset Pricing Model (CAPM) is used to determine the economics of the theoretically appropriate price of the asset as security. 3.1.1 The Expected Return on Equity According to the Capital Asset Pricing Model Market risk is generally characterized by ÃŽÂ ²-parameter. Thus, investors would expect (or demand) that: Where: Es: The expected return of security RF: The expected risk-free rate in this market (bonds) Î’s: Sensitivity to market risk to the safety RM: The historical performance of the stock market / stock market (Rm-rf): The risk premium in the market risk-free assets in the assets. Writing: The expected yield (%) = risk-free interest rate (%) * + sensitivity to market risk (the historical performance (%) risk-free interest rate (%)) Other expected yield (%) = yield of the bonds closest to the concept of the project or the projects safety + beta * (market risk premium) historically the market risk premium of 3-5% Comments The models show that investors expect a return on risk-free rate plus a market risk sensitivity of the security times the market risk premium. A truly risk-free rate is the lowest offer price for the bonds market, such as government bonds. The risk premium varies over time and space, but some developed countries in the twentieth century, an average of around 5%. The real stock market returns are roughly the same as the annual real GDP growth. The gains in the Dow Jones Industrial Average is 1.6% per year over the period 1910-2005. The dividend increased by all the real return on average equity in the double, about 3.2%. Sensitivity to market risk (ÃŽÂ ²) is unique to each company and depends on the management to every business and capital structure. This value is not known ex ante (beforehand), but may not be retrospective (past) experience with similar guarantees and undertakings. 3.2 Cost of Retained Earnings/Cost of Internal Equity We must remember that the profits from the component of equity, and thus the cost of retained earnings (internal equity) equal to the cost of equity capital as described above. The dividends (income paid to investors, and should not be) part of the return on capital to shareholders, and to influence the capital cost of the mechanism. 3.3 Weighted Average Cost of Capital What makes the weighted average cost of capital WACC does this mean? This estimate is the companys cost of capital, which is weighted in proportion to their capital. Each source of capital ordinary shares, preference shares, debentures and other long-term debt include the WACC calculation. Each equal to the WACC of a company increases the return on equity beta and the woman, and notes a reduction in the WACC increases and a higher level of risk. The total value of equity (for a company that no outstanding warrants and is the same as the companys market capitalization) plus the cost of debt (the cost of debt should be continually updated as a result of changes in the cost of debt interest rate changes). It should also be noted that justice in the debt-equity ratio of the total market value of equity, no equity on the balance sheet. To calculate the weighted cost of capital, we must first calculate the cost of some funding sources, namely: cost of debt Cost of Preference Capital cost of capital. WACC is calculated by an iterative procedure that requires an estimate of market value of equity. WACC formula is: [Rd x D / V x (1-5)] [Re x E / V] Rd = Bond yield to maturity (Y / Y Calculator) D = Market value (NPV) of debt (1 T) = 1 tax shield on interest deduction for interest expense = Re = shareholder return requirements V = value of total capital (debt equity) Generally, a company or assets financed by debt or equity securities. WACC is the average cost of financing sources, each weighted by its use in a given situation. By taking a weighted average, we see that much interest the company must pay for every dollar it finances. Since a companys WACC is the overall expected return on the company as a whole, and as such are often used internally by company directors to determine the economic feasibility of expansionary opportunities and mergers. This is the appropriate discount rate to use the cash flow risk similar to the entire company. 3.3.1 Example of Weighted Average Cost of Capital (WACC) A Corporation issued 10,000 units of the bonds, which currently sells for 98.5. The coupon rate of 6% this year bonds, the interest semi-annually. The remaining period of these bonds is 3 years. The companys current share price of two million common shares for $ 10 a share. The stock beta 1.5, a 4.5% risk-free rate on government bonds and the expected return on equity of 14.5%. The tax rate is 30% Table 2 Bond and Stock Calculations Bond Calculations Stock Calculations N = 3 x 2 = 6 I/Y = ? (Rd) PV = 0.985 x 10,000 x $1000 = $9,850,000 (D) PMT = (-10,000,000 x 0.06) / 2 = $-300,000 FV = $-10,000,000 P/Y = 2 C/Y = 2 Solution: I/Y = 6.56% Re = Rf + B[Rm Rf] Re = 0.045 + 1.5 [0.145 0.045] Re = 0.045 + 0.15 = 0.195 (19.5%) Market Value of Equity = E Stock price x common shares O/S $10 x 2,000,000 = $20,000,000 V = Total Capital Structure V = 9,850,000 (bonds debt) + 20,000,000 (equity of common shares) V = 29,850,000 3.4 Cost of Capital in Islamic Banking Proper use of investment criteria is important for industry and agriculture as well. Although the assessment can be used for both public and private sectors of the economy, should the public sector in its own special problems considered complementary, because the social costs and benefits. Therefore, we will participate in the private sector and the problems of evaluating investments in various industrial projects. Contradictions abound in the relative merits of different methods of investment valuation. But the most important points with different match. It is worth noting that almost every economist in the treatment discounting as a method of evaluation, as the only possible way to choose between different investments. Essentially two methods frequently used economists, namely the net present value (NPV) and the enlarged internal rate of return (IRR). The concept of internal rate of return (IRR) was JM Keynes (perhaps better known as the marginal efficiency of capital MEC) schedule, called the marginal efficiency of investment (MEI). It is defined as the rate at which the present value of future income exactly equal to the market price for the project. In other words, this is Return on capital employed. It is, committed while the return of the project. NPV of the project is formally defined as the value today of the surplus that the company can do in addition to the investors own marginal. IRR on the basis of the extended to the negative cash flows are discounted back to the companys cost of capital as long as it does not outweigh the positive cash flow. Both methods (the extended NVP and IRR) on its own common deficiencies, such as non-IRR NVP can be used either in the usual way that the correct ranking of projects in situations where the entrance is a rationing system. But there are ways to eliminate gaps and allow them to appropriate methods of investment evaluation. We will have a higher degree of internal rate of return, which is simply called the internal rate of return. A simple rule of decision in cases where the decision is all or nothing about which projects should be chosen from the various investment options, to implement all the projects whose IRR exceeds the cost of capital. Cost of capital, the capitalist system, the rate that a loan company and the investment is likely to be, which is simply the interest. In other words, that cut off rate, in relation to the internal rate of return regulation, which are also found in the literature as a barrier percentage. Note that the NPV approach to investment decisions, it is essential that decision-making, that there is no explicit prior discount rate, which, as already mentioned, is nothing more than to get money market rates. But they did not have a pre-determined percentage of the IRR method, except when its time, where debt capital is rationed in the various projects. This makes it completely independent of the IRR method is very appropriate rate and can be used for investments in the Islamic interest-free option and follow the debate. In the case of capitalism, is the internal greater than or equal to the market, the project will be implemented. The project also encourages companies to maximize profits, which last carried out the projects internal rate of return equal to interest. Apparently, the internal time of a declining function of investment, more projects, which would reduce the internal rate of return (in the same trade, of course). Already adopted (the Western economists) that the interest rate plays a decisive role in determining which projects will be implemented and also how much capital to be invested in various projects. Roll the relationship between these two terms seem to be exaggerated. Since only one project, the established criteria are quite valid and applicable as the optimal size of equity should be considered. As the number of projects increases, the IRR should be calculated for each project will increase so much. Moreover, it happens to all nodes in the two IRRs. This complicates the problem, and this will reduce the importance of interest, especially if interest rates happen to be far from the IRR to the last possible projects. Given that an investors risk-taking entrepreneurs, he is usually in front of the chains of investment options from which to choose allegedly, the first of the highest IRR. Assuming that you know, a lot of project finance, there may be dozens of projects whose IRR is higher than the going rate. There is no doubt that these projects are attractive, but to varying degrees, the contractor and will be selected in descending order rate. This is the case in the real economy, the role of interest rates is rather passive, even useless. This is because in such circumstances, the project IRR rate range. This is beyond that point to the role that a reasonable interest rate, and the role of the cut-off ratio. In other words, it is a long process before the existence of the interest rate becomes irrelevant, because the IRR for a couple of projects related to each other because of the interdependence refers to the ratio of investment is not at all. Exogenous real interest rate in the sector (especially investment), it is ironically suggested the capitalist system and then used to determine the optimal level of investment. In addition, the speculators, who needs money market interest in the products, allowing decisions to lead the business, whose activities are so important to the economy. It seems reasonable to link the contrary, ie, because of the interest, but we assume it to be the real sector, led by the monetary sector, if any. The abolition of an Islamic state, it would not be an external variable such as interest, what type and level of investment. Investment projects, in this framework are competing with each other, and the investment will be needed to achieve full employment, that is, until there are idle production factors in the economy. This is particularly true of human resources make it necessary and inherent meaning, as we see in Islam, the authorities should not keep the unemployed, for the sake of the interests of capitalists. Can easily be shown that in an Islamic context, for each part of the money (ie, the potential capital) that comes out of the interest-free banks to finance various projects under various types of contracts, it becomes possible to go directly to the products and / or services. Is a term, and it is: a prerequisite for an Islamic state is strictly prohibited, and appear to prevent speculation in any market (be it either money or goods). It has long been a misunderstanding among some Islamic scholars in the financial support that speculation can take place, and the abolition of interest is permitted. Easy to show that one-to-one correspondence between the interest (rate), and speculation. Interest rate (rate) is necessary and sufficient condition for the speculation that takes place. Although the lack of clearly illegal-frame-rate, if speculation is allowed in any market, you will definitely be of interest in its own nature. Therefore, the prohibition of interest leads logically to a ban on speculation. This interdependence between interest and speculation is not only very rarely in the economic literature, but also its negligence was the source of serious misunderstandings. Economic relations are rarely a single direction. A collection of the IRR can be measured both by an Islamic bank, Islamic banking sector, an independent agency authorized to appropriate guidance on the nature and viability of the project. This measure is to be used so that the expected profits can be divided into an Islamic bank and finance company demanding. The matrix is very useful for determining how much funding should be allocated to projects that are in the priority list for economic development. To determine the companys share of the profits, various factors, such as the following may be considered: the risk premium, the rate of poverty in different parts of the countrys priorities for economic development plans, the degree of capital intensity, taxes, employment considerations of the burden of rates and the like. All of these factors, or a combination thereof may affect the companys demanding (my fiancee) share of the profits that can be safely manipulated without interfering with the market mechanism. It gives interest-fr ee banking system, the IRR method, the absolute advantage of the artificial manipulation of interest rates, which is quite often the case in capitalist countries, and an obvious interference with market mechanisms. This contrasts with the situation are often held in the Western economists who argue that market mechanisms should be avoided. Add to this the expected negative correlation between interest and investment as both a classical and Keynesian economists have empirically demonstrated that infertile. This is so, while the bill may be taken into account the positive correlation between the rate of profit and investment. This bill provides not only the interest cost of the capitalist system, but also that profit maximization is consistent with the aims of each company. Surprisingly, however, this goal is at the micro level, the capitalist will change textbooks without a logical explanation for the negative correlation between interest investment at the macro level. Using the IRR method of an Islamic state is not only compatible with the goal of maximizing profits (if proof was not suitable for such a system) and to avoid interfering with market mechanisms but it is an absolute advantage in another, so the opportunity cost of capital to zero. The logic is simple. This lack of interest, all projects compete with each other (with due regard to their own priorities), internal rate of return. Also, the fact that the investment projects against each other at each other and there is no reason to ensure that any external factors to determine the same extent as the cost of capital for each project. The capitalist system, the current interest rate to be logically the next best alternative, or the cost of capital for each project. The logic of the independence of the IRR for the project. The second best option not to report to the IRR for a project according to an account must be seen as the opportunity cost of capital. This is because of the interdependence of all projects do not meet any of the BMR in another appropriate opportunity cost of the project, otherwise it would cost hundreds of alternatives to the capitalist framework, while the interest rate will be to measure the opportunity cost of all capital investment. In other words, to allow costs to be met independent state. Failure to consider the interdependencies between projects and independent degree of internal rate of investment has led to that many writers to form the misconception about the opportunity cost of capital. This lack of interest, there is nothing to compare the IRR of the various projects (with the exception of the IRR of the project by themselves). Interdependent and common to the Islamic banks, these proje
Subscribe to:
Posts (Atom)