Professionalism and Time Management Essay Example | Topics and Well Written Essays - 250 words

Polished skill and Time Management - Essay Example Polished skill is the act of connecting with an action, business or an occupation with most extreme competency required in the training. Polished skill guarantees that an individual gives quality and proficiency in the result of their activity (Clark and Kasar, 2009). It shows the characteristics or attributes of an expert individual. Without demonstrable skill, one can never take care of their undertakings with the necessary honesty and morals. (Clark and Kasar, 2009). Different elements add to ill-advised time the executives. Some could be really inescapable while inside and out sluggishness and ill-advised arranging characterize different reasons. Since I am routinely late for my lab meetings, it is indispensable to concoct powerful time the executives abilities to control this issue (Clark and Kasar, 2009). Having an individual or self-reflection about the issue, and looking for vital information on the idea of the issue and forthcoming arrangements is a significant advance to em brace toward setting up a solution.My issue is regularly brought about by work and significant distance to the research facilities. For this situation, I should think of a schedule that would direct the entirety of my every day endeavors. It must be complied with except if of an inescapable crisis that is progressively basic. Having referenced that, I would excuse my timetable and start my day by day assignments prior that typically so as to represent the significant distance that for quite a while has frustrated me from promptness. (Clark and Kasar, 2009).

Academic life Essays

Scholarly life Essays Scholarly life Essay Scholarly life Essay It isn't uncommon to discover resources having certain generalizations against people with inabilities. As per Vasek (2005), resources that don't have the right systems and staff who have involvement in incapacitated people will in general mark understudies with inabilities. This is in correlation with resources whose staff is knowledgeable with the requirements of the incapacitated. The more experienced staff all the more so the teachers have more noteworthy uplifting perspectives as well as increasingly delicate to the necessities of the incapacitated people. Understudies with incapacities in such foundations will in general have more noteworthy accomplishment in their general social and scholarly life. On another measurement, a few resources have wound up not completely supporting understudies with inabilities because of deficient data gave by the understudy. Since the understudy is considered dependable of uncovering their incapacity as most ideal as, the impacts of insufficient exposure because of the student’s negative mentalities towards personnel wind up affecting the workforce. It generally turns out to be difficult for a personnel to decide the correct offices to oblige a handicapped understudy when satisfactory data isn't given. Truth be told deciding the requirements of the debilitated individual may demonstrate testing to the personnel if the workforce needs more experience to manage the introduced handicap (Caverly, 2008). The idea of handicap surfaces since certain types of incapacities may have a for the most part notable method of managing it than others. It is for example noticed that while it is a typical encounter among educators to have shown an individual who is in wheelchair, they may not be as furnished in managing people with concealed handicaps (Ysseldyke et al, 2004). The arrangements in Section 504 and ADA have incredibly formed the perspectives of staff towards understudies with inabilities. With Section 504 disallowing segregation of people with inabilities from getting to postsecondary instruction and a few prerequisites, resources have been compelled to rearrange in order to suit the crippled. Such alterations have included arrangement of steady offices as well as remembered change for perspectives. People with inabilities have to a great extent been acknowledged by resources as the law has requested so. With acknowledgment that understudies with handicaps need unique consideration for them to encounter equivalent advantages with non-debilitated understudies, resources have needed to accommodate assistant administrations that are fundamental. As per Saunders (2007), resources have needed to give suitable settlement administrations to the crippled understudies according to the prerequisites of the law. It has likewise been noticed that regardless of the much adequacy of the consideration of the handicapped in the foundations of advanced education, the private part by and large doesn't appear to see this move decidedly. Preparing employees on the approaches to adequately deal with understudies with handicaps so as to profit the understudy to the greatest has been a move made by Section 504 and ADA. The readiness to oblige understudies with handicaps has been appeared to differ enormously in resources relying upon a few factors. As indicated by Rao (2004), while resources (educators in explicit) have demonstrated extraordinary acknowledgment of certain types of housing for understudies with incapacities, the eagerness to give such help contrasts relying upon the sorts of offices required. For example, there is by all accounts a more prominent agreeableness to offer learning helps, for example, taped talks expanded time for assignments when contrasted with permitting the understudy with incapacity to do uncommon assignments notwithstanding the ordinary ones. Poor comprehension and usage of the necessities of Section 504 and ADA has made moderately pessimistic mentalities towards people with handicaps which have wound up in fights in court (DePoy Gitlin, 2005). Resources may for example experience issues with managing touchy incapacity gives that the understudy may introduce. While it is the commitment of the workforce to offer fundamental help to the impaired understudy, the staff is as yet expected to work inside its ability. Adjusting the need to have the student’s needs provided food for and cooking for in general adapting requirements for different understudies gets intense for resources and they may will in general create antagonism on pleasing the crippled. Obliging the necessities of people with handicaps requires additional endeavors and assets. A teacher for example might be required to set additional chance to get ready taped notes and other assistant guides for the debilitated people. The personnel in itself may require additional assets and framework to guarantee smooth learning for the debilitated understudies. Though this might be gotten adversely by certain offices, a few resources value obliging the incapacitated. Indeed, even in situations where the assets have been given, it is the notions of certain resources that understudies with incapacities at times end up not being served viably (Buskist Davis, 2006). This suggests a few resources don't completely grasp and welcome the need to have the crippled people rewarded similarly in the establishments of advanced education.

Judith Wrights Poetry :: essays research papers

How is Judith Wright’s verse an advantageous report for Australian understudies? Judith Wright is a regarded Australian artist is otherwise called a progressive and nonconformist. Her verse has caught the most stunning symbolism of Australian Culture. For Australian understudies to comprehend their own way of life and history it is important to consider the best verse and Judith Wright’s verse is certainly probably the best. Her accomplishment in making an interpretation of the Australian experience into verse drove in her best work to a rich legacy of lyricism and explicitness. Through stories told by more seasoned specialists on the property she learnt of the pioneers' part in both the devastation of the land and the dispossession and murder of the native individuals. The feeling of dread she felt at intrusion empowered her to comprehend, at some level, how the Aborigines would have felt. Judith Wright expounded on numerous things in her sonnets, which are vital for Australian understudies to be trained which apply to finding out about Australia. Australian culture is something Judith expounded on emphatically and this shows through her sonnet Bora Ring. Bora Ring is about the Aborigine culture and how it has been lost by the intrusion of Europeans. ‘The tracker is gone: the lance is fragmented underground; the painted bodies a fantasy the world inhaled resting and overlooked. The traveler feet are still.' This is an extraordinary passage extricated from Bora Ring. This sonnet portrays superbly of the European intrusion of Australia. It shows how the customs and stories are gone, how the chasing and ceremonies are gone and ‘lost in an outsider tale’, the Europeans being the outsiders. This sonnet likewise depicts that it appeared as though the custom of Aborigines was ‘breathed resting and forgot’. These are incredible words Judith Wright used to show how they Aborigines were immediately attacked and ‘forgotten’. This sonnet is a fantastic case of why Australian understudies should examine her verse. Australian connections are portrayed consummately by Judith in these sonnets, ‘Woman to Child’, ‘Woman to Man’, ‘Brother and sisters and afterward ‘Remembering an aunt’. These sonnets show Australian connections through Judith Wright’s sees. Sibling and sisters is essentially appearing of how individuals get old. ‘..and now their plantations never would be planted’, ‘..John every night at ten injury the plated clock that released the year away’. In the last section this sonnet unexpectedly hits the peruser on the grounds that you are brought into the sonnet.

Waiting for the Bus free essay sample

The previous summer, I got myself  ­sitting on a love seat inverse a 38-year-old Filipino man named Peter who possessed a scent like stale fish, earth, and a fantasy conceded. â€Å"Where are you from?† I inquired. â€Å"Here.† â€Å"What made you homeless?† â€Å"I need my green card.† â€Å"Where do you remain and get food?† â€Å"I need my green card. I need †¦ my green card. I go clean the shopping center. I make arrangements for the future.† I later found, by conversing with the soup kitchen staff, that Peter is intellectually crippled. He moved to the U.S. at the point when he was five, yet he despite everything had a highlight. He presumably as of now had his citizenship. This was a whimsical method to investigate a social subject. My best friend’s mother was the administrator at a destitute sanctuary, and their raising support occasion was coming up. My companion was a film major at our school, and I was a venue major, so we pooled our gifts and made a narrative about the reasons for vagrancy and how the haven had helped many discover advising, food, safe house, and showers. We will compose a custom exposition test on Hanging tight for the Bus or then again any comparable subject explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page I talked with; she recorded. It immediately became clear that  ­Peter wasn’t the main vagrant with apparently impossible issues. There was Don, a 58-year-old expert alcoholic who had been in and out of recovery and prison a mind-blowing majority. He was a brilliant narrator †he reviewed in distinctive detail being there the first run through Ozzy Osbourne bit off a bat’s head. A pot stem was inked on his arm. At the point when he was 15, his companion began to ink the tattoo, yet Don chose to stop part of the way through the procedure †a fitting representation for his life. Each time he went into recovery, each time it looked as though he had discovered stable job, he quit part of the way through. At that point there was the lady essentially known as the Bag Lady. A distrustful schizophrenic, she had amassed a  ­collection of waste and kept it in a staple truck, never letting it out of her sight. She went through her days hanging tight for a transport that never came; she would examine every one that passed her stop, perpetually concluding it was an inappropriate one. She kept all her garments layered on her body, in any event, during the harshly blistering and muggy Georgia summers. At some point, she strangely attempted to take off her garments to wash up at the  ­shelter. She couldn’t. Sweat and soil had put them to her body, and my friend’s mother needed to scam them her. She became crazy when we requested to talk with her. As I helped set up the camera in the cafeteria to dish over the room, I became overpowered watching everybody. Subside appealed to God for his green card. Wear showed the tattoo that was rarely finished. The Bag Lady gazed out the window at her stop with the expectation that her transport would at long last show up. I could just think about that fantasy conceded. My examinations in vagrancy proceeded with long after the camera quit rolling. I  ­conducted more meetings, this time for myself. The vast majority of these individuals were tossed onto the lanes on the grounds that a  ­unexpected obligation had overturned their  ­already unpredictable check to-check presence, or on the grounds that they were addicts who had never discovered satisfactory restoration, or on the grounds that they had a psychological instability. Understanding the delicacy of the line that isolates â€Å"person† from â€Å"homeless person† has helped me treat everybody with empathy. Rather than addressing the destitute on not utilizing government assistance to purchase medications or embracing my tote as I speed by a recreation center seat, I set aside some effort to hear them out. This experience likewise helped when I worked for the Obama battle. I enrolled a greater number of individuals to cast a ballot in one day than most understudies did in seven days, since I moved toward the individuals lying on park seats, the ex-criminals and vagrants who didn’t realize that they could cast a ballot in Georgia. One man cried as he rounded out the enlistment structure; the State of Georgia had taken his vote from him 20 years back. From that point onward, the Savannah battle held drives at all the destitute safe houses. Finding out about the situation of vagrants has made my reality somewhat more excellent. I took in the distinction between a mandolin and a guitar from a road artist named Guitar Bob. I found out about the historical backdrop of metal  ­music from Don. Al showed me how to weave a rose out of palm tree leaves. Above all, I discovered that these individuals are not government assistance leeches, medicate abusers, or society’s burden to shoulder. Vagrants have explicit issues that aren’t difficult to oversee, and with a bit of exertion and  ­ingenuity, maybe one day their transport will at long last come.

Metaphor of the Month! Eye of the Storm Richmond Writing

Metaphor of the Month! Eye of the Storm Richmond Writing With Tropical Storm Dorian projected (for now) to strike Florida as a Hurricane, it seems appropriate to choose a metaphor apt for Hurricane Season. This one, while not an academic term, certainly has been so popular as to become a cliche, albeit a powerful one.   Sometimes, when the semester is at its most frenzied, well have a day or two of relative clam. Welcome to the eye of the storm. The metaphor does not rate a full entry at the OED, and its appearance is of recent origin. Those in the path of cyclones must have long known about the eerie calm at the center of the tempest, so it surprises me that the earliest recorded usage comes from 1884.   In his novella,  Typhoon,  Joseph Conrad beautifully captured the experience of a battered steamer, at midnight, entering the eye: This ring of dense vapours, gyrating madly round the calm of the centre, encompassed the ship like a motionless and unbroken wall of an aspect inconceivably sinister. Within, the sea, as if agitated by an internal commotion, leaped in peaked mounds that jostled each other, slapping heavily against her sides; and a low moaning sound, the infinite plaint of the storms fury, came from beyond the limits of the menacing calm. Captain MacWhirr remained silent, and Jukes ready ear caught suddenly the faint, long-drawn roar of some immense wave rushing unseen under that thick blackness, which made the appalling boundary of his vision. We have a powerful term here that needs no explanation to native speakers of English. I do wonder if in other languages the metaphor shifts? Are there other images that spring to mind, aside from an eye, when other cultures describe the calm at the center of chaos? Please send us words and metaphors useful in academic writing by e-mailing me (jessid -at- richmond -dot- edu) or leaving a comment below. See all of our Metaphors of the Month  here  and Words of the Week  here. How well I recall Hurricane Isabel and my nearly two weeks without electricity. Image of Isabel, from the International Space Station and via Wikipedia, courtesy of Mike Trenchard, Earth Sciences Image Analysis Laboratory, NASA Johnson Space Center.

Human Resource Department Essay - 275 Words

Duties and Responsibilities of Human Resource department (Essay Sample) Content: Maple Leaf Shoes Ltd.Insert nameInsert institutionWhat I expect from Human Resource department of this companyFrom Lances perspective on the management of the department, I believe that the human resource needs to coordinate its activities in a more organized manner. First, the leadership of the department as well as of the entire company should be a leadership that involves all the employees. That is, the head of human resource department should be able to engage the junior staff before making any decision for the benefit of the department as well as of the entire organization. Therefore, I expect the human resource perform an effective leadership and development role in the company.The Human Resource department should hire a manager who can work with people towards the realization of the set goals. From Lace interview with the clerk, Lance was able to conclude that the department needs a manager that can work with people harmoniously and provide excellent leadership to the junior staff (Gilmore Williams, 2009). That is, the new parson should go beyond today's needs and draft a plan that will lead the department towards the right direction soon. In this case, I expect the Department of Maple Shoe Company to have the staff that can plan, coordinate, and direct the activities of the Department to effectively and efficiently meet its set goals and objectives.The introduction of new systems in place is another expectation that I am expecting from the Human Resource Department of Maple Leaf Shoes Ltd. That is, I expect this company to have a well-established structure clearly indicating the responsibility and authority that each has in this particular company. Besides, am expecting the human resource department to have adequate staff in that the absentia of one individual will not stop work from proceeding. With the help of frequent seminars as well on the job training, the Head of human resource department will be able to come up with a competent and reliable team. That is; the team that will enable the Department to meet effectively and efficiently its set goals and objectives.Because of the stiff completion that the company is facing from China, Indonesia, and Korea, I expect Maple Leaf Shoes needs to hire very competent marketing staff and sales agents who knows how to handle customers. Good public relations from marketers to the clients will enable the company to win the loyalty of its customers. Therefore, the loyalty of clients will enable the company to stay on top of the market, unlike its competitors. Also, I expect the human resource department to motivate its employees properly through proper rewards and recognition to enable them work extra hard to attain the set goals and objectives.Finally, I expect the human resource department of Maple Leaf Shoes to have an upgraded system that keeps the employees records. With these records, the department will be able to determine the areas with performance gaps and hence d eveloping plans to reduce the performance differences. Therefore, with good record keeping system, the department will be able to respond quickly to grievances of its employees.Challenges facing Maple Leaf Shoes in the next five yearsCompletion is one of the major challenges that Maple Leaf Shoes will be facing in the next five years. With the emergence of China, Indonesia, and Korea in the shoes industry, the company will have to generate new strategies to retain its customers. With the introduction of stiff completion in the industry, Maple Leaf Shoes will be forced to reduce the prices of its products as well as increase marketing of its products. However, increase in marketing and reduction of cost in products will be a major loss to Maple Leaf Shoes. Therefore, the company needs to have good plans that will enable it handles the challenge of competition in the next five years.Technology is another challenge that the Maple Leaf Shoes will be facing in five years' time. In this, the operations of Human Resource department as well as of the entire company will move to an era of technology. That is, the company will need use internet in all of its operation. However, this will be a challenge t...

The Good Shepherd And Thomas Groome s Shared Christian...

At first glance, it may seem as if the Catechesis of the Good Shepherd and Thomas Groome’s Shared Christian Praxis have nothing in common with one another, but while they do share many differences, they also share some similarities. In terms of teaching the divine pedagogy, the two catechetical approaches of the Catechesis of the Good Shepherd and Shared Christian Praxis have some similar and some different theological, philosophical, and educational principles, which aid in the effectiveness of their practice for their specific target age group. First, the Catechesis of the Good Shepherd is a specific form of catechesis aimed towards children ages 3 to 12. There are three levels involved with this form of catechesis: level one (3-6 year olds), level two (7-9 year olds), and level three (10-12 year olds). The name of the space where this catechesis occurs is â€Å"The Atrium,† and the Atrium is designed specifically for the children with small tables, chairs, and shelves. A child’s capacity for understanding God should be taken seriously, and the Catechesis of the Good Shepherd does this. In fact, it can be said that â€Å"children have an extraordinary capacity for prayer,† and â€Å"theirs is a prayer of praise and thanksgiving, which expresses the nearness and transcendence of God† (Cavalletti, 44). Through the Atrium, the children are able to build a relationship of love with the Good Shepherd, and they are able to learn and embrace the beauty of silence. The children engage

Religion is Detrimental to Society and the Individual

For science can only ascertain what is, but not what should be, and outside of its domain value judgments of all kinds remain necessary. Religion, on the other hand, deals only with evaluations of human thought and action; it cannot justifiably speak of facts and relationships between facts†¦Now, even though the realms of religion and science in themselves are clearly marked off from each other, nevertheless they exist between the two strong reciprocal relationships and dependencies. Though religion may be that which determine the goals, it has, nevertheless, learned from science, in the broadest sense, what means will contribute to the attainment of the goals it has set up.† - Albert Einstein (1940) A religion is an organized†¦show more content†¦Egypt had a hierarchy of gods that stated that the after life was thought to be reserved for elites. Only those who passed Osiris â€Å"weighing of the heart’ on judgement day, tested how well the individual behaved in their life time. Greco- Roman gods were held above everyone else with human personalities and supernatural powers. These people had the belief that you could do everything right and still lose since forces beyond out control shape our lives, and that respect for the gods was the most important above all. Norse religion was associated with Vikings, who were known for stealing and fighting were punished for stealing only if it was not done in a courageous fashion (O’brien, 2014). Hinduism requires a devotion to a particular god and consequences of actions follow the individual though the next life, with the hierarchy of social classes determining the affects of the afterlife. Buddhism says that each life is a combination of a particular impermanent circumstance that is the doctrine of dependent origination (Open University, 2014). It is clear that regardless of religion, all require different recommendations in order to be deemed ‘good’ to achieve the afterlife. Religions are all conflicting which provides no stability to their claims of a higher power and decency, especially regarding hierarchies and social class structure. Marx believes that religion develops out of the longings of the oppressed and it is aShow MoreRelatedReligion and its Effect on Society and Individuals Essay1603 Words   |  7 PagesOver the years, society has come to evolve and progressively become more efficient as society’s viewpoints and perspectives on various aspects of life have also changed. However, the one aspect of life that has stayed constant has been religion. The impact of a constant religious opinion on a changing society has detrimental and benign effects on the populace of such a society. Religion was partly created in an effort to answer the questions that couldn’t be answered in any other way; to provideRead MoreControversy Over Religion s Impact On Society1266 Words   |  6 PagesDevin Arrants Ms. Sidle English III AP/DC per. 3 3 November 2015 Word Count: 1328 The Controversy of Religion in A Connecticut Yankee at King Arthur’s Court Religion provides answers, evokes a sense of comfort in the unknown, and designs a moral code; however controversy now surrounds this subject regarding whether religion’s impact is more detrimental or beneficial to a society as a whole. Mark Twain’s narrator, Hank Morgan, travels back in time and attempts to accelerate the advancement of theseRead MoreImmanuel Kant And Karl Marx1690 Words   |  7 Pages The works of German philosopher’s Immanuel Kant and Karl Marx have played significant roles in the development of different sects of philosophy and religion. Immanuel Kant was born in 1724 in Konigsberg, East Prussia, now presently Kaliningrad, to a devout, poverty-stricken family of eleven children. Through his works, it is evident that Kant was raised in the religious teachings and values of pietism as his theories show a heavy influence of his religious upbringing. Kant as a young boy was accustomedRead MoreThe Human Race Essay1481 Words   |  6 Pagesfor the individual to fully understand and discover everything about the Creator. Each person is different, and each person understands and discovers differently. Everyone has a different background, and it is impossible (according to Kuyper) to fully lose the differences between people, namely nationality, religion, or social class (Wolterstorff, 11). Those three categories are crucial for defining the individual, but are still categories that generalize the qualities of the individual. A ChristianRead MoreEssay about Eth 125 Diversity Worksheet611 Words   |  3 Pageswhich include cognitive, affective, and behavioral. 2. What is ethnocentrism? In what ways can ethnocentrism be detrimental to a society? Ethnocentrism means preferencing and individual’s culture over the cultures of any other group. This is basically someone judging another culture just by the values and standards of one’s own culture. As far as why it is detrimental to a society it can make one be judgemental before knowing anything about that specific culture. We can not want to get to knowRead MoreFaith Based On Belief Of Religion1675 Words   |  7 Pagesadopted a dominant belief system. These belief systems could include the ancient traditions like Greek polytheism, Mayan ritual worship, or Hinduism as well as modern religions such as Christianity, Islam, or Judaism. By preaching goodwill and the golden rule religion has played a significant role in promoting ethics in society. Religion stimulates inner strength, confidence, and fosters a sense of purpose for many people. It is also hard to imagine a world without the incredible religious art and musicRead MoreEmployment division v. Smith, 494 U.S 8721609 Words   |  7 Pagesunemployment on grounds of misconduct. Smith filed suit again the clinic. The Oregon Supreme Court overruled the rehabilitation clinic’s verdict. The court stated that Smith’s religious use of peyote was protected under the First Amendments freedom of religion. The Employment Division, Department of Resources appealed the case to the United States Supreme Court on the grounds that possession and use of peyote is a crime. The Supreme Court returned the case back to Oregon State Courts to determine if OregonRead MoreMark Steyn s Views On The Pursuit Of Truth1590 Words   |  7 PagesWithin a society that is places a great deal of importance on the pursuit for truth, there must be discourse on the controversial Maclean’s articles regarding the prominence of Islam in the West – rather than leaving it as a one-sided argument. It is very easy for those opposing Islam, or for argument sake, anything that contrasts the Western ma jority’s views or background, to disguise their hate speech under the guise of free speech, and one can see that is the case for Mark Steyn’s arguments. NotRead More Religion in the Modern Age Essay993 Words   |  4 Pages Religion in the modern age has been seen by some sociologists as being refreshing to the morals of society, while other sociologists feel that religion has for too long placed restrictions and limitations upon those who partake in it. nbsp;nbsp;nbsp;nbsp;nbsp;Both functionalists and Marxists have identified that religion does have the main function of providing guidelines and restrictions to how someone should behave in society., albeit both perspectives have a different outlook on the resultRead MoreEuthanasia: Murder or Mercy? Essay1665 Words   |  7 Pages Our modern day society has been recurrently challenged on many topics that have been deemed as â€Å"moralistically impacting.† It is accepted today that a problem cannot be solved in modern day society unless adequate proof is offered to manipulate the stalwart beliefs of many individuals in a way as to reach an impasse amongst two opposing parties. Euthanasia happens to be a topic that has been debated extensively for the larger part of the twenty-first century (Larue). Even the definition of euthanasia

King Lear Act 3 Analysis

We take a close look at Act 3. Here, we focus on the first four scenes to help you get to grips with this play. Analysis: King Lear, Act 3, Scene 1 Kent is out on the heath searching for King Lear. He asks the Gentleman where Lear has gone. We learn that Lear is battling the elements in a fury, raging against the world and tearing his hair. The Fool tries to make light of the situation by making jokes. Kent explains the recent division between Albany and Cornwall. He tells us that France is about to invade England and has already sequestered some of its army into England in secret. Kent gives the Gentleman a ring telling him to deliver it to Cordelia who is with the French forces at Dover. Together they continue to search for Lear. Analysis: King Lear, Act 3, Scene 2 Lear in on the heath; his mood reflecting the storm, he hopes the tempest will obliterate the world. The King dismisses the Fool who tries to convince him to return to Gloucester’s castle to ask his daughters for shelter. Lear is angered by his daughter’s ingratitude and accuses the storm of being in cahoots with his daughters. Lear wills himself to calm down. Kent arrives and is shocked by what he sees. Lear does not recognize Kent but talks about what he hopes the storm will uncover. He says that the gods will find out the crimes of sinners. Lear famously muses that he is a man ‘more sinned against than sinning’. Kent tries to persuade Lear to take shelter in a hovel he has seen nearby. He intends to return to the castle and beg the sisters to take their father back. Lear shows a more sensitive and caring side when he identifies with the Fool’s suffering. In his demeaned state, the King recognizes how precious shelter is, asking Kent to lead him to the hovel. The Fool is left on stage making predictions about the future of England. Like his master, he talks of sinners and sins and describes a utopian world where evil no longer exists. Analysis: King Lear, Act 3, Scene 3 Gloucester is fretting about how Goneril, Regan, and Cornwall have treated Lear and their warnings against helping him. Gloucester tells his son Edmund, that Albany and Cornwall are going to clash and that France is about to invade in order to restore Lear to the throne. Believing that Edmund is loyal, Gloucester suggests that they both help the King. He tells Edmund to act as a decoy while he goes to find the king. Alone on stage, Edmund explains that he will betray his father to Cornwall. Analysis: King Lear, Act 3, Scene 4 Kent tries to encourage Lear to take shelter, but Lear refuses, telling him that the storm cannot touch him because he is suffering inner torment maintaining that men only feel bodily complaints when their minds are free. Lear compares his mental torment to the storm; he is concerned with his daughter’s ingratitude but now appears resigned to it. Again Kent urges him to take shelter but Lear refuses, saying that he wants isolation to pray in the storm. Lear speculates on the state of the homeless, identifying with them. The Fool runs screaming from the hovel; Kent calls out the ‘spirit’ and Edgar as ‘Poor Tom’ comes out. Poor Tom’s state resonates with Lear and he is driven further into madness identifying with this homeless beggar. Lear is convinced that his daughters are responsible for the beggar’s terrible situation. Lear asks ‘Poor Tom’ to recount his history. Edgar invents a past as an errant servant; he alludes to lechery and the dangers of female sexuality. Lear empathizes with the beggar and believes he sees humanity in him. Lear wants to know what it must be like to have nothing and to be nothing. In an attempt to identify with the beggar further, Lear begins to undress in order to remove the superficial trappings that make him what he is. Kent and the Fool are alarmed by Lear’s behavior and try to stop him from stripping. Gloucester appears and Edgar fears his father will recognize him, so he begins to act in a more exaggerated manner, singing and ranting about a female demon. It is dark and Kent demands to know who Gloucester is and why he has come. Gloucester asks about who is living in the hovel. A nervous Edgar then begins an account of seven years as a mad beggar. Gloucester is unimpressed by the company the King is keeping and tries to persuade him to go with him to a safe place. Lear is more concerned about ‘Poor Tom’ believing him to be some sort of Greek philosopher who can teach him. Kent encourages Gloucester to leave. Gloucester tells him that he is driven half mad with grief regarding his son’s betrayal. Gloucester also speaks of Goneril and Regan’s plan to kill their father. Lear insists the beggar stays in their company as they all enter the hovel.

Review Of The Defenders - 1015 Words

On August 18, 2017 Marvel’s Netflix series Defenders decided to show up featuring all of the netflix marvel characters that we have grown accustomed to over the the years. Daredevil, Jessica Jones, Luke Cage, and Iron Fist are all coming together to stop The Hand from leveling New York to get what they want. Ladies and Gentleman, as always I am the Gentleman Snark. Today I will bring you review of the first four episode in the Defenders series, so let’s begin. Spoilers: We are discussing the first half of the Defenders series. Story: Story is simple, The Hand have set up for a big performance and a grand finale for New York. So it is up to our unlikely Street level heroes to ban together and protect the city. The show takes a while to†¦show more content†¦Which manages to pay off and work beautifully in end when the characters sit down and become more acquainted with each other. Leading into one of my favorite aspects of the series. Character Dynamics: Speaking broadly for the whole series, if I were to give an example of how the characters in Defenders play of off each other I would use DC’s Suicide Squad as a good comparisons for the characters. To explain this, in the Suicide Squad movie, there is a scene where all the bad guys sat in a bar and had a drink exchanging bar room talk and typical banter. For me, I can totally see the Defenders doing something very similar, which they did in episode 4, and it WORKS. This is to be taken as a compliment as even though the characters have just met each other under extreme circumstances, episode 4 is a pretty much good example of how the main characters will act towards each other for the entire show. Only Danny and Matt understand or even know about the hand, Jessica and Luke are in a constant stream of disbelief as soon as magic is involved. The sarcastic quips that have towards each other gives off a very realistic view to it. I can totally see actually people having conversati ons and reacting similar to the main characters in the show. Unlike when you compare them to the Avengers that for me personally, lack those kind of interaction with their characters or at least don’t make use of them enough in my opinion(except forShow MoreRelatedLiterature Review : Public Defenders1790 Words   |  8 PagesLiterature Review Public defenders are put at a major disadvantage in terms of the effectiveness of defense they can provide. Most defenders will try to defend their clients to the best of their ability, but there are so many obstacles that prevent this from happening. These obstacles include heavy caseloads, lack of resources, government restriction, and the type of client they have to defend. While not all of these problems have a simple solution there must be some remedy to the issues. 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Digital Modulation Techniques Free Essays

string(73) " data modem but due to their low bit rate there not being used any more\." LOVELY PROFESSIONAL UNIVERSITY TERM PAPER Topic: Digital Modulation Techniques Course code: ELE102 Course title: Electrical science-II Submitted to:Submitted by: Subrahmanyam Tanala Sirvishwajeet kumar Sec:K1901 Roll:B57 Contents INTRODUCTION †¢ 1 Aim †¢ 2 Analog modulation methods †¢ 3 Digital modulation methods o 3. 1 Fundamental digital modulation methods o 3. 2 Modulator and detector principles of operation o 3. We will write a custom essay sample on Digital Modulation Techniques or any similar topic only for you Order Now 3 List of common digital modulation techniques †¢ 4 Digital baseband modulation or line coding †¢ 5 Pulse modulation methods †¢ 6 Miscellaneous modulation techniques 7 References INTRODUCTION In electronics, modulation is the process of varying one or more properties of a high frequency periodic waveform, called the carrier signal, with respect to a modulating signal. This is done in a similar fashion as a musician may modulate a tone (a periodic waveform) from a musical instrument by varying its volume, timing and pitch. The three key parameters of a periodic waveform are its amplitude (â€Å"volume†), its phase (â€Å"timing†) and its frequency (â€Å"pitch†), all of which can be modified in accordance with a low frequency signal to obtain the modulated signal. Typically a high-frequency sinusoid waveform is used as carrier signal, but a square wave pulse train may also occur. Aim The aim of digital modulation is to transfer a digital bit stream over an analog passband channel, for example over the public switched telephone network (where a bandpass filter limits the frequency range to between 300 and 3400 Hz), or over a limited radio frequency band. The aim of analog modulation is to transfer an analog baseband (or lowpass) signal, for example an audio signal or TV signal, over an analog passband channel, for example a limited radio frequency band or a cable TV network channel. | 2 Analog modulation methods In analog modulation, the modulation is applied continuously in response to the analog information signal. [pic] [pic] A low-frequency message signal (top) may be carried by an AM or FM radio wave. Common analog modulation techniques are: †¢ Amplitude modulation (AM) (here the amplitude of the carrier signal is varied in accordance to the instantaneous amplitude of the modulating signal) o Double-sideband modulation (DSB) ? Double-sideband modulation with carrier (DSB-WC) (used on the AM radio broadcasting band) ? Double-sideband suppressed-carrier transmission (DSB-SC) ? Double-sideband reduced carrier transmission (DSB-RC) o Single-sideband modulation (SSB, or SSB-AM), †¢ Angle modulation o Frequency modulation (FM) (here the frequency of the carrier signal is varied in accordance to the instantaneous amplitude of the modulating signal) o Phase modulation (PM) (here the phase shift of the carrier signal is varied in accordance to the instantaneous amplitude of the modulating signal) The accompanying figure shows the results of (amplitude-)modulating a signal onto a carrier (both of which are sine waves). At any point along the y-axis, the amplitude of the modulated signal is equal to the sum of the carrier signal and the modulating signal amplitudes. [pic] [pic] Simple example of amplitude modulation. 3 Digital modulation methods In digital modulation, an analog carrier signal is modulated by a digital bit stream. Digital modulation methods can be considered as digital-to-analog conversion, and the corresponding demodulation or detection as analog-to-digital conversion. The changes in the carrier signal are chosen from a finite number of M alternative symbols (the modulation alphabet). [pic] [pic] Schematic of 4 baud (8 bps) data link. A simple example: A telephone line is designed for transferring audible sounds, for example tones, and not digital bits (zeros and ones). Computers may however communicate over a telephone line by means of modems, which are representing the digital bits by tones, called symbols. If there are four alternative symbols (corresponding to a musical instrument that can generate four different tones, one at a time), the first symbol may represent the bit sequence 00, the second 01, the third 10 and the fourth 11. If the modem plays a melody consisting of 1000 tones per second, the symbol rate is 1000 symbols/second, or baud. Since each tone (i. e. , symbol) represents a message consisting of two digital bits in this example, the bit rate is twice the symbol rate, i. e. 2000 bits per second. This is similar to the technique used by dialup modems as opposed to DSL modems. . According to one definition of digital signal, the modulated signal is a digital signal, and according to another definition, the modulation is a form of digital-to-analog conversion. Most textbooks would consider digital modulation schemes as a form of digital transmission, synonymous to data transmission; very few would consider it as analog transmission. . 1 Fundamental digital modulation methods The most fundamental digital modulation techniques are based on keying: †¢ In the case of PSK (phase-shift keying), a finite number of phases are used. †¢ In the case of FSK (frequency-shift keying), a finite number of frequencies are used. †¢ In the case of ASK (amplitude-shift keying), a finite number of amplitudes are used. †¢ In the case of QAM (quadrature amplitude modulation), a finite number of at least two phases, and at least two amplitudes are used. FSK The two binary states, logic 0 (low) and 1 (high), are each represented by an analogue waveform. Logic 0 is represented by a wave at a specific frequency, and logic 1 is represented by a wave at a different frequency. Below shows the basic representation. [pic]  Ã‚  Ã‚  [pic] With binary FSK, the centre or carrier frequency is shifted by the binary input data. Thus the input and output rates of change are equal and therefore the bit rate and baud rate equal. The frequency of the carrier is changed as a function of the modulating signal (data), which is being transmitted. Amplitude remains unchanged. Two fixed-amplitude carriers are used, one for a binary zero, the other for a binary one. Uses of FSK. Today FSK Modems are used for short haul data communication over private lines or any dedicated wire pair. These are many used for communication between industrial applications like railroad signalling controls and mobile robotic equipment. The short haul modem offers the following specs; – Speeds of up to 9600 bps – Full-duplex or half duplex operation. – Distance up to 9. 5 miles In the past FSK was used in the Bell 103 and Bell 202. These were the first data modem but due to their low bit rate there not being used any more. You read "Digital Modulation Techniques" in category "Essay examples" The Bell 103 had a data rate of only 300 bauds. This modem was predominant until the early 1980s. Phase Shift Keying – PSK Phase shift keying (PSK) is a method of transmitting and receiving digital signals in which the phase of a transmitted signal is varied to convey information. The simplest form of PSK has only two phases, 0 and 1. It is therefore a type of ASK with  ¦(t) taking the values -1 or 1, and its bandwidth is the same as that of ASK. The digital signal is broken up time wise into individual bits (binary digits). The state of each bit is determined according to the state of the preceding bit. If the phase of the wave does not change, then the signal state stays the same (low or high). If the phase of the wave changes by 180 degrees, that is, if the phase reverses, then the signal state changes (from low to high or from high to low) If the phase of the wave changes by 180 degrees, that is, if the phase reverses, then the signal state changes (from low to high or from high to low). Because there are two possible wave phases, this form of PSK is sometimes called bi-phase modulation. If two or more of the same logic level are received in secession the frequency will remain the same until the logic level changes. Variants of PSK. -Binary Phase Shift Keying (BPSK): – Use alternative sine wave phase to encode bits Simple to implement, inefficient use of bandwidth Binary Phase Shift Keying (BPSK) demonstrates better performance than ASK and FSK. PSK can be expanded to a M-array scheme, employing multiple phases and amplitudes as different states. Phase Shift Keying – PSK Phase shift keying (PSK) is a method of transmitting and receiving digital signals in wh ich the phase of a transmitted signal is varied to convey information. The simplest form of PSK has only two phases, 0 and 1. It is therefore a type of ASK with  ¦(t) taking the values -1 or 1, and its bandwidth is the same as that of ASK. The digital signal is broken up time wise into individual bits (binary digits). The state of each bit is determined according to the state of the preceding bit. If the phase of the wave does not change, then the signal state stays the same (low or high). If the phase of the wave changes by 180 degrees, that is, if the phase reverses, then the signal state changes (from low to high or from high to low) If the phase of the wave changes by 180 degrees, that is, if the phase reverses, then the signal state changes (from low to high or from high to low). Because there are two possible wave phases, this form of PSK is sometimes called bi-phase modulation. If two or more of the same logic level are received in secession the frequency will remain the same until the logic level changes. Variants of PSK. a)Binary Phase Shift Keying (BPSK): – Use alternative sine wave phase to encode bits – Simple to implement, inefficient use of bandwidth [pic] Binary Phase Shift Keying (BPSK) demonstrates better performance than ASK and FSK. PSK can be expanded to a M-array scheme, employing multiple phases and amplitudes as different states. Filtering can be employed to avoid spectral spreading. b)Quadrature Phase Shift Keying (QPSK): – Multilevel modulation technique: 2 bits per symbol – More spectrally efficient, more complex receiver [pic][pic][pic] Quadrature Phase Shift Keying is effectively two independent BPSK systems (I and Q), and therefore exhibits the same performance but twice the bandwidth efficiency. Output waveform is sum of modulated;  ± Cosine and  ± Sine wave. Variants of QPSK [pic] – Conventional QPSK has transitions through zero (i. e.. 180o phase transition). Highly linear amplifier required. In Offset QPSK, the transitions on the I and Q channels are staggered. Phase transitions are therefore limited to 90o – ? /4-QPSK the set of constellation points are toggled each symbol, so transitions through zero cannot occur. This scheme produces the lowest envelope variations. Uses of PSK Binary Phase Shift Keying (BPSK) – BPSK is mainly used in deep space telemetry and also cable modems Quadrature Phase Shift Keying (QPSK) and it Variants Satellites – CDMA, (Code-Division Multiple Access) refers to any of several protocols used in so-called second-generation (2G) and third-generation (3G) wireless communications. TETRA, Terrestrial Trunked Radio) is a set of standards developed by the European Telecommunications Standardization Institute (ETSI) that describes a common mobile radio communications infrastructure throughout Europe This infrastructure is targeted primarily at the mobile radio needs of public safety groups (such as police and fire departments), utility companies, and other enterprises that provide voice and data communications services. LMDS, (Local Multipoint Distribution System) is a system for broadband microwave wireless transmission direct from a local antenna to homes and businesses within a line-of-sight radius, a solution to the so-called last-mile technology problem of economically bringing high-bandwidth services to u sers. . 3. 3 List of common digital modulation techniques The most common digital modulation techniques are: †¢ Phase-shift keying (PSK): o Binary PSK (BPSK), using M=2 symbols Quadrature PSK (QPSK), using M=4 symbols o 8PSK, using M=8 symbols o 16PSK, using M=16 symbols o Differential PSK (DPSK) o Differential QPSK (DQPSK) o Offset QPSK (OQPSK) o ? /4–QPSK †¢ Frequency-shift keying (FSK): o Audio frequency-shift keying (AFSK) o Multi-frequency shift keying (M-ary FSK or MFSK) o Dual-tone multi-frequency (DTMF) o Continuous-phase frequency-shift keying (CPFSK) †¢ Amplitude-shift keying (ASK) †¢ On-off keying (OOK), the most common ASK form M-ary vestigial sideband modulation, for example 8VSB †¢ Quadrature amplitude modulation (QAM) – a combination of PSK and ASK: o Polar modulation like QAM a combination of PSK and ASK. [citation needed] †¢ Continuous phase modulation (CPM) methods: o Minimum-shift keying (MSK) o Gaussian minimum-shift ke ying (GMSK) †¢ Orthogonal frequency-division multiplexing (OFDM) modulation: o discrete multitone (DMT) – including adaptive modulation and bit-loading. †¢ Wavelet modulation Miscellaneous modulation techniques †¢ The use of on-off keying to transmit Morse code at radio frequencies is known as continuous wave (CW) operation. †¢ Adaptive modulation †¢ Space modulation A method whereby signals are modulated within airspace, such as that used in Instrument landing systems. 7 REFRENCES J. R. Barry, E. A. Lee, D. G. Messerschmidt, Digital Communication, Kluwer Academic Publishers, 2004. www. wikipedia. org Communication systems (Simon Haykin), Wiley India How to cite Digital Modulation Techniques, Essay examples

Animal Farm by George Orwell Essay Example For Students

Animal Farm by George Orwell Essay Characters, items, and events found in George Orwells book, Animal Farm, can be compared to similar characters, items, and events found in Marxism and the 1917 Russian Revolution. This comparison will be shown by using the symbolism that is in the book with similarities found in the Russian Revolution. Old Major was a prized-boar that belonged to Farmer Jones. The fact that Old Major is himself a boar was to signify that radical change and revolution are, themselves, boring in the eyes of the proletariat represented by the other barnyard animals, who are more prone to worrying about work and survival in their everyday life. Old Major gave many speeches to the farm animals about hope and the future. He is the main animal who got the rebellion started even though he died before it actually began. Old Majors role compares to Lenin and Marx whose ideas were to lead to the communist revolution. Animal Farm is a criticism of Karl Marx, as well as a novel perpetuating his convictions of democratic Socialism. Zwerdling, 20. Lenin became leader and teacher of the working class in Russia, and their determination to struggle against capitalism. Like Old Major, Lenin and Marx wrote essays and gave speeches to the working class poor. The working class in Russia, as compared with the barnyard animals in Animal Farm, were a laboring class of people that received low wages for their work. Like the animals in the farm yard, the people is Russia thought there would be no oppression in a new society because the working class people or animals would own all the riches and hold all the power. Golubeva and Gellerstein 168. Another character represented in the book is Farmer Jones. He represents the symbol of the Czar Nicholas in Russia who treated his people like Farmer Jones treated his animals. The animal rebellion on the farm was started because Farmer Jones was a drunk who never took care of the animals and who came home one night, left the gate open and the animals rebelled. Czar Nicholas was a very weak man who treated his people similar to how Farmer Jones treated his animals. The Czar made his working class people very mad with the way he wielded his authority and preached all the time, and the people suffered and finally demanded reform by rebelling. The Czar said The law will henceforward be respected and obeyed not only by the nation but also the authority that rules it and that the law would stand above the changing views of the individual instruments of the supreme power. Pares 420. The animal Napoleon can be compared as a character representing Stalin in Russia. Both were very mean looking, didnt talk very much but always got what they wanted through force. In one part of the book Napoleon charged the dogs on Snowball, another animal. Stalin became the Soviet Leader after the death of Lenin. He was underestimated by his opponents who always became his victims, and he had one of the most ruthless, regimes in history. In was not till very many years later that the world found out about the many deaths that Stalin created in Russia during the Revolution. For almost 50 years the world thought that the Nazis had done the killing in Russia, when in fact it was Stalin. Imse 2. The last characters that are symbolic of each other are the animal Snowball with the Russian leader Trotsky. Snowball was very enthusiastic and was a leader who organized the defense of the farm. .ucd657967097ecebec6c3cf27c0cd7e89 , .ucd657967097ecebec6c3cf27c0cd7e89 .postImageUrl , .ucd657967097ecebec6c3cf27c0cd7e89 .centered-text-area { min-height: 80px; position: relative; } .ucd657967097ecebec6c3cf27c0cd7e89 , .ucd657967097ecebec6c3cf27c0cd7e89:hover , .ucd657967097ecebec6c3cf27c0cd7e89:visited , .ucd657967097ecebec6c3cf27c0cd7e89:active { border:0!important; } .ucd657967097ecebec6c3cf27c0cd7e89 .clearfix:after { content: ""; display: table; clear: both; } .ucd657967097ecebec6c3cf27c0cd7e89 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ucd657967097ecebec6c3cf27c0cd7e89:active , .ucd657967097ecebec6c3cf27c0cd7e89:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ucd657967097ecebec6c3cf27c0cd7e89 .centered-text-area { width: 100%; position: relative ; } .ucd657967097ecebec6c3cf27c0cd7e89 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ucd657967097ecebec6c3cf27c0cd7e89 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ucd657967097ecebec6c3cf27c0cd7e89 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ucd657967097ecebec6c3cf27c0cd7e89:hover .ctaButton { background-color: #34495E!important; } .ucd657967097ecebec6c3cf27c0cd7e89 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ucd657967097ecebec6c3cf27c0cd7e89 .ucd657967097ecebec6c3cf27c0cd7e89-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ucd657967097ecebec6c3cf27c0cd7e89:after { content: ""; display: block; clear: both; } READ: The Bean Trees EssayHe gave speeches and instructions but was not very beneficial. All the other animals liked him, but he was outsmarted by Napoleon. Trotsky and Stalins relationship was very much like Snowballs and Napoleons. Trotsky organized the Red Army and gave speeches and everyone in Russia thought he would win power over Stalin. After Lenins death Trotsky lost all his power to Stalin and was expelled from the communist party. He was at one time considered the second most powerful man in Russia. Trotsky Comptons 290. Besides characters there are many items that can be compared as symbols in the book and in Russia. The whip that Napoleon used in the farmyard to wield power can be compared to the power that Stalin used on the Russians. Napoleon carried a whip in his trotter. Stalin used his power to starve the Russian people and to have Lenin arrested. Stalins main goal was to maximize his personal power. Stalin, Britannia 576. Stalin whipped his people into shape by collectivizing agriculture, by police terror, and by destroying remnants of individual prosperity. He also led the Soviet Union into the nuclear age Clarkson 442. Propaganda is another item that was used in the Russian revolution. It can be compared to Squealer in Animal Farm. Squealer brainwashed a form of propaganda the barnyard animals into believing that they did not like apples and milk, while he and Napoleon were stealing the food for themselves. In Russia, the Bolsheviks carried out propaganda on the people by passing out leaflets and putting stories in the newspapers that were not true. They told workers, soldiers, and peasants to not trust their own hands and to take away land from the landowners. Golubeva and Gellerstein 80. Another item that is similar in both Animal Farm and Russia are the dogs and the secret police. Napoleon trained his dogs when they were puppies to guard him and to obey his every command. They chased Snowball away. Stalin trained his secret police to do his bidding whenever he issued an order. Stalin had his secret police kill between 60,000 to 70,000 people. These police were called the Checka and the graves filled with bodies stacked upon each other with bullets in each skull were found many years later. Imse, C2. Another symbolism that exists in the book and in Russia is a similarity to events that took place. The windmill that is present in Animal Farm can be compared with the growth of industry in Russia or the Industrial Revolution. Snowball first introduced the windmill concept to the farm but Napoleon disagreed with him and had the dogs chase him away. Napoleon then presented the windmill as a good idea and the animals were presented with hope that things would get better on the farm. When it blew down, Napoleon blamed it on Snowball. Napoleon thought that if he could keep the barnyard animals busy all the time replacing the windmill that they would not realize how bad their living conditions were, and he could blame the destruction all the time on Snowball. The windmill is the only thing that was holding the animals together as a unit. In Russia the growth of factory and industry was very depressing but depended on the obligatory labor of serfs. Russia hoped that by keeping the serfs working all the time and promising them a better world that they would not realize how bad their living conditions were. The Industrialists were pressing their own constitutional demands. Clarkson 352. None of the social classes were fighting each other because there were no classes left. What Russia got working was to make the people think that the prospect of loss of potential improvements in conditions of life of the here and now, could only be attained by stimulating labor to unprecedented efforts. The last event that was similar in the book and in Russia was the animal rebellion on the farm and the Russian Revolution of 1917. .u945ffb02d7f126be4a22fc7a6d3832f0 , .u945ffb02d7f126be4a22fc7a6d3832f0 .postImageUrl , .u945ffb02d7f126be4a22fc7a6d3832f0 .centered-text-area { min-height: 80px; position: relative; } .u945ffb02d7f126be4a22fc7a6d3832f0 , .u945ffb02d7f126be4a22fc7a6d3832f0:hover , .u945ffb02d7f126be4a22fc7a6d3832f0:visited , .u945ffb02d7f126be4a22fc7a6d3832f0:active { border:0!important; } .u945ffb02d7f126be4a22fc7a6d3832f0 .clearfix:after { content: ""; display: table; clear: both; } .u945ffb02d7f126be4a22fc7a6d3832f0 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u945ffb02d7f126be4a22fc7a6d3832f0:active , .u945ffb02d7f126be4a22fc7a6d3832f0:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u945ffb02d7f126be4a22fc7a6d3832f0 .centered-text-area { width: 100%; position: relative ; } .u945ffb02d7f126be4a22fc7a6d3832f0 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u945ffb02d7f126be4a22fc7a6d3832f0 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u945ffb02d7f126be4a22fc7a6d3832f0 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u945ffb02d7f126be4a22fc7a6d3832f0:hover .ctaButton { background-color: #34495E!important; } .u945ffb02d7f126be4a22fc7a6d3832f0 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u945ffb02d7f126be4a22fc7a6d3832f0 .u945ffb02d7f126be4a22fc7a6d3832f0-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u945ffb02d7f126be4a22fc7a6d3832f0:after { content: ""; display: block; clear: both; } READ: Antony Speech Analysis EssayFarmer Jones was drunk a lot and would forget to feed the animals on the farm. The withholding of this food is what finally forced the animals on the farm to rebel against Farmer Jones. In Russia, there were many food shortages which caused the people to demonstrate and then the Russian soldiers refused to suppress them and the leaders demanded that Nicholas transfer his power to parliamentary government because everything was getting out of control. Soviet workers and soldiers formed a special committee and established a government. The same day the emperor abdicated. Russian Revolution, Grolier npa. This actually backfired in Russia and the war continued and the people still starved. Many lessons can be learned by reading Animal Farm that can help countries and governments around the world from making mistakes in wielding their power against their people. If a population is suppressed and not allowed to accumulate things for themselves then an overthrow of the government that is suppressing them will be the result.

Fear is the mother of morality free essay sample

Morality can be thought of as an overarching idea that suggests a big difference between what it means to do good versus bad. Most people in this world have some idea of what things constitute doing the right thing and what constitutes doing the wrong thing. For example, people would agree that it is morally right to keep secrets and morally wrong to kill someone. Why is it that as human beings, we act so morally? Friedrich Nietzche once said Fear is the mother of morality in an attempt to explain why people exercise morality. Morality may be thought of as the child of three sources of fear: fear of ostracism from social groups, fear of god and fear of the internal conscience that which makes us human. Individuals may have fear of one or more of these and it is when they truly do not fear any one that they go on to commit the gravest of immoral acts such as murder. We will write a custom essay sample on Fear is the mother of morality or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page 1. It is the fear of being ostracized from the social group that drives individuals to be moral. Human beings are a highly social group formed of networks of family, friends and members of the general society. In saying this, if one chooses to be immoral by harming others or benefit themselves at the expense of others, they will be ignoring the rules of the social group (made to keep everyone happy) and risk not being a part of that group anymore. Social psychology research has also shown that being ostracized can be just as painful as a physical injury- demonstrating the salience of social interactions. Furthermore, altruism beneficiary good behaviours that are reciprocated between individuals is potentially lost if one chooses to do harm. Then, in the future, if they need something, they will not receive the action they need all because they chose not to do good in the first place. Such social pressures tend to keep people in check to do the right thing so as not to be excluded from the social group and to participate in altruistic behaviour. Fear of our conscience filled with remorse, regret and guilt also drives individuals to exhibit morality. We are capable of thought, of empathy and of having a conscience. It is when one commits a bad act that they know is immoral (we have a conscience) and harms others (we have empathy), that we experience guilt, remorse and regret because of our strong social ties. This is also a form of psychological pain and to avoid this, people will act morally. 2. Fear of god also drives individuals to be good people. Most religions have a dichotomy regarding the afterlife: If youre good, you go to a good place (heaven) and if you have lead a bad or evil life, you will go to hell and be punished by the higher power for the rest of eternity (a very daunting thought). Religious individuals then have a sense that to enjoy a wonderful afterlife, they will have to do good in their present life. Religious texts often accompany this warning of hell/heaven with ways to be good. The 10 commandments (e. g. do no harm to thy neighbour) are an example whilst the Quran and the Bhagvad Gita also have similar notions that encourage individuals to follow the right path and avoid punishment by god. 3. Fear of the state drives individuals to be good people. Most if not all societies have rules for transgressors of rules. With relation to immoral acts such as stealing, murder or treason, the punishment ranges from incarceration to capital punishment. The possibility of death if one commits an immoral act is a huge deterrent and the fear of being executed is why most people are hesitant to commit murder. In conclusion, fear of ostracism, psychological punishment, of god and of the state drive people to be moral in order to avoid the negative repercussions. Any one of these reasons may be enough to deter people but it is usually a mix of one or more that results in most individuals acting in highly moral ways that lead to the development of civilized societies.

How Can I Write Rhetorical Analysis Sample Essay Examples?

How Can I Write Rhetorical Analysis Sample Essay Examples?Writing effective prose in this competitive era has always been tough especially if you are a new writer. The struggle of writing an excellent article is huge. A lot of new writers do not have the proper tools to deal with their struggles.Most of the writer find it really hard to start writing an article without any guidelines on how to go about it. With a little guidance, they could surely come up with the best writing that will help them finish their project or assignment.But most of the new writers do not know where to find or how to start finding the right kinds of writing guides. This problem can be solved easily by using rhetorical analysis sample essay examples. Rhetorical analysis is an easy process that anyone can easily do. It basically consists of structuring the sentences and paragraphs, and deciding how to deliver the message.Structure your essay and present your message in a way that makes it easier for readers t o understand and accept the message. There are two common types of structures in an essay that can be used, those that are known as inverted pyramid structures and linear structures.Choosing the right structure for an essay depends on what kind of information that you are going to convey to your readers. If you are writing a short article, you may choose the simple inverted pyramid structure, but if you are writing a longer essay, you can use a linear structure or a combination of both.The reason why most of the new writers do not know how to write rhetorical analysis sample essay examples is that they have no clear idea on how to put all the pieces together. They just have to start writing and guess on what type of structure would fit their subject matter. They do not know how to establish the point of the essay, what kinds of message they should deliver and how to continue.These types of things will be easier to understand if you are given examples to work with in your readings. I n fact, the first thing that you need to do is to create a reading list of the most popular writing and reading guide books.Your reading list will serve as a good starting point when you are writing your own essay. After you have got your reading lists, you can now focus on the major types of essays and choose the right one for you. With just a few tips, you can now start writing that academic essay that you always wanted to write.

Financial Institutions Essay Example

Financial Institutions Essay International Technological University FINN 918 Financial Institutions Final Exam: Answers Textbook:  Foundations of Financial Markets and Institutions, 4th Edition, Fabozzi, Modigliani, and Jones, Prentice Hall, 2010,| ISBN –13: 978-0-13613531-9| ISBN –10: 0-13-613531-5| 1. Indicate whether each of the following instruments trades in the money market or the capital market: a. General Motors Acceptance Corporation issues a financial instrument with four months to maturity. b. The U. S. Treasury issues a security with 10 years to maturity. c. Microsoft Corporation issues common stock. d. The State of Alaska issues a financial instrument with eight months to maturity. e. GMAC issue trades in the money market. f. U. S. security trades in the capital market. g. Microsoft stock trades in the capital market. h. State of Alaska security trades in the money market. 2. Give three reasons for the trend toward greater integration of financial markets throughout the world. There are several reasons. These include: a. Deregulation and/or liberalization of financial markets to permit greater participants from other countries; b. Technological innovations to provide globally-available information and to speed transactions; c. Institutionalization financial institutions are better able to diversify portfolio and exploit mis-pricings than are individuals. 3 Why does increased volatility in financial markets with respect to the price of financial assets, interest rates, and exchange rates foster financial innovation? Increased volatility of the prices of financial assets has fostered innovation as investors and institutions seek ways to mitigate financial risk. We will write a custom essay sample on Financial Institutions specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Financial Institutions specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Financial Institutions specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Among other things, these innovations include the advancement of the modern derivatives markets. Chapter 2 1. Each year, millions of American investors pour billions of dollars into investment companies, which use those dollars to buy the common stock of other companies. What do the investment companies offer investors who prefer to invest in the investment companies rather than buying the common stock of these other companies directly? In investing funds with the investment companies, investors are reducing their risk via diversification and the cost of contracting and information. These companies also provide liquidity to the investor. 2. a. Why is the term hedge to describe â€Å"hedge funds† misleading? b. Where is the term hedge fund described in the U. S. securities laws? a. Hedge denotes hedging risk. Many hedge funds, however, do not use hedge as a strategy, and these funds take significant risk in their attempt to achieve abnormal returns. b. The term is not described in US securities laws, and hedge funds are not regulated by the SEC. 3. Some hedge funds will refer to their strategies as â€Å"arbitrage strategies. † Why would this be misleading? Arbitrage means riskless profit. These opportunities are few and fleeting. Hedge funds take great risk. The arbitrage typically taken is where there is a disparity between the risk and the return, such as pricing disparities across markets. Chapter 3 1. What is the Basel Committee for Bank Supervision? a. What do the two frameworks, Basel I and Basel II, published by the Basel Committee for Bank Supervision, address regarding banking? a. It is the organization that plays the primary role in establishing risk and management guidelines for banks throughout the world. b. The frameworks set forth minimum capital requirements and standards. 2. Explain each of the following: a. reserve ratio b. required reserves a. The reserve ratio is the percentage of deposits a bank must keep in a non-interest-bearing account at the Fed. b. Required reserves are the actual dollar amounts based on a given reserve ratio. 3. How did the Glass-Steagall Act impact the operations of a bank? The Glass-Steagall Act prohibited banks from carrying out certain activities in the securities markets, which are principal investment banking activities. It also prohibited banks from engaging in insurance activities. Chapter 4 1. What is the role of a central bank? The role of a central bank has several functions: risk assessment, risk reduction, oversight of payment systems, and crisis management. It can do this through monetary policies, and through the implementation of regulations. 2. Why is it argued that a central bank should be independent of the government? Central banks should be independent of the short-term political interests and political influences generally in setting economic policies. 3. What is the discount rate, and to what type of action by a bank does it apply? The discount rate is the rate a bank pays to borrow at the â€Å"discount window† of the Fed. Such borrowings are often undertaken to meet temporary liquidity needs. Bank needs are monitored and the Fed likes to state that borrowing from it is a â€Å"privilege and not a right. † 4. a. What is an open market purchase by the Fed? b. Which unit of the Fed decides on open market policy, and what unit implements that policy? c. What is the immediate consequence of an open market purchase? a. An open market purchase by the Fed consists of the purchase of U. S. Treasury securities. . The FOMC decides on open market policy and directs the Federal Reserve Bank of New York to implement it through sales and purchases of these securities. c. The immediate consequence of an open market purchase is to supply the seller of the security with a check on the Federal Reserve System that he can deposit in his bank, thereby immediately increasing the excess reserves and thus nation’ s money supply. Chapter 5 1. Why is it impossible for the Fed to target, at the same time, both the Fed funds interest rate and the level of reserves in the banking system? An increase in reserves should have an opposite effect on interest rates (a decrease in rates as banks have more reserves to lend). However, the interest rate is a function of both the supply of money and the public’s demand for money. It is thus possible for an increase in reserves to be met by an increase in the demand to hold money; hence no decrease in interest rate levels. In like manner, when an interest rate is the target, the Fed must let the growth in reserves vary as it strives to keep certain levels of interest rates. 2. It is often said that you cannot hit two targets with one arrow. How does this comment apply to the use of monetary policy to â€Å"stabilize the economy†? Often there are countervailing effects of the Fed’s actions. As seen, the Fed must choose either a short-term rate or the level of some reserves and cannot choose to target both kinds of variables as an operating target. The Fed can stimulate an economy through a reduction in interest rates, but such stimulation could lead to inflation or bubbles. As well, dampening unsustainable growth can be achieved, but such actions can lead to recession. . Describe the differences and similarities of the conduct of Chairmen Greenspan and Bernanke in managing Fed policy. Up until the mortgage and crisis, Bernanke mostly maintained Greenspan’s policies, but he was viewed as being more open with respect to communications about the Fed’s policy and FOMC meetings. Additionally, Bernanke was expected to advocate a more q uantitative approach to policy as opposed to Greenspan’s subjective, eclectic approach Chapter 7 1. An investment company has $1. 05 million of assets, $50,000 of liabilities, and 10,000 shares outstanding. a. What is its NAV? b. Suppose the fund pays off its liabilities while at the same time the value of its assets double. How many shares will a deposit of $5,000 receive? a. Net asset value = (Total assets minus liabilities) / numbers of shares = 1,050,000 – 50,000 = $100 10,000 b. Net asset value = 2,100,000 – 0 = $210 10,000 No of shares = 5000 = 23. 81 shares. 210 2. â€Å"The NAV of an open-end fund is determined continuously throughout the trading day. † Explain why you agree or disagree with this statement. Disagree. NAV of open-ended fund is the closing price of the day 3. Why might the price of a share of a closed-end fund diverge from its NAV? The price of closed-end funds may differ from NAV (often at a discount) because the fund has a large built-in tax liabilities and investors are discounting the share’s price for future tax liabilities. Leverage may be another factor for price below NAV. 4. What is an index fund? An index fund e. g. Fidelity Magellan and Vanguard Samp;P 500 are mutual funds, which invests in stocks included in Samp;P 500, and aim to achieve its performance to the benchmark Samp;P500 returns 5. What are the advantages of an ETF relative to open-end and closed-end investment companies? As said earlier, price is continuously changing during the trading period. 6. Briefly describe the following in the context of mutual funds: a. supermarket b. wrap program c. segregated managed accounts d. family of funds a. Supermarkets: The introduction of the first mutual fund supermarket in 1992 by Charles Schwab amp; Co. introduced its One Source service. These supermarkets allow investors to purchase funds from participating companies without investors having to contact each fund company. b. Wrap program: Wrap accounts are managed accounts, typically mutual funds â€Å"wrapped† in a service package. The service provided is often asset allocation counsel; that is advice on the mix of managed funds. c. Segregated managed accounts: are in response to individuals who object to mutual funds because of their lack of control over taxes and other investment decisions. Many investors with medium-size portfolio are utilizing segregated accounts. d. Family of funds: In the U. S. system, a family of funds consists of an investment company that offers several different funds. In Japan the family fund allows investors to buy new certificates in a grouping of existing unit trusts. Chapter 9 1. Suppose you own a bond that pays $75 yearly in coupon interest and that is likely to be called in two years (because the firm has already announced that it will redeem the issue early). The call price will be $1,050. What is the price of your bond now, in the market, if the appropriate discount rate for this asset is 9%? PO = $75 (PVIFA) 2. 09 + $1050 (PVIF) 2. 09 =$75 X 1. 7591 + $1050 X . 8417 = $1015. 72 2. You have been considering a zero-coupon bond, which pays no interest but will pay a principal of $1,000 at the end of five years. The price of the bond is now $712. 99, and its required rate of return is 7. 0%. This morning’s news contained a surprising development. The government announced that the rate of inflation appears to be 5. 5% instead of the 4% that most people had been expecting. (Suppose most people had thought the real rate of interest was 3%. ) What would be the price of the bond, once the market began to absorb this new information about inflation? The nominal required rate of return is (real rate plus inflation) ir + if or currently 3% plus 4% = 7%. If if becomes 5. % then the new required rate of return becomes 8. 5%. The price of the bond would then be $1000/(1. 085)5 or $665. 05. 3. What is the cash flow of a 6% coupon bond that pays interest annually, matures in seven years, and has a principal of $1,000? a. Assuming a discount rate of 8%, what is the price of this bond? b. Assuming a discount rate of 8. 5%, what is the price of this bond? c. Assuming a discount rate of 7. 5%, what is the price of this bond? d. What is the duration of this bond, assuming that the price is the one you calculated in part (b)? e. If the yield changes by 100 basis points, from 8% to 7%, by how much would you approximate the percentage price change to be using your estimate of duration in part (e)? f. What is the actual percentage price change if the yield changes by 100 basis points? a. $60 a year interest for 7 years plus $1000 principal in year 7 for a total of $1420 in cash flow. b. 5. 2064 X $60 + . 583 X $1000 = $895. 38 c. 5. 119 X $60 + . 565 X $1000 = $872. 14 d. 5. 297 X $60 + . 603 X $1000 = $920. 82 e. D = $920-. 82-$872. 14 =$48. 68/8. 95=5. 44 $895. 38 (0. 85-. 075) f. Applying the formula-D (change in yield) = -5. 44 (. 01) or a price increase of 5. 42%. g. Price at 8% =$895. 88, at 7% = $946. 06, so actual percentage change is ($946. 06 $895. 88)/$895. 88=5. 6%. Chapter 10 1. How do the assets, money, and bonds differ in Keynes’s liquidity preference theory? a. How does a change in income affect the equilibrium level of the interest rate in Keynes’s theory? b. How does a change in the money supply affect that rate? a. Money (as demand deposits and cash) is considered the liquid asset that serves as a medium of exchange and a store of value. Such funds pay little or no interest. Bonds are not as liquid and do pay some interest. b. In Keynesian theory, the rate of interest is determined by the demand to hold money (liquidity preference) and the money supply. An increase in income will lead to an increase in the demand for transactions purposes; hence an increase in the equilibrium rate of interest. c. An increase in the money supply will initially create a situation where more money exists than public wish to hold. They will then use these excess funds for investments, driving down interest rates. 2. Consider three bonds, all with a par value of $1,000: Bond| Coupon Rate| Market Price| A| 8%| $1,100| B| 7| 900| C| 9| 1,000| a. What is the yield to maturity of bond C? b. Is the yield to maturity of bond A greater than or less than 8%? c. Is the yield to maturity of bond B greater than or less than 9%? a. The yield to maturity of bond C is 9% because its market price is equal to the par value. b. The yield to maturity of bond A is less than 8% since it is selling at a premium over par. An investor will get the 8% coupon payments but only $1000 at maturity, less than the $1100 he had paid for it. . Since bond B is selling at a discount, its yield is greater than the coupon rate, but how much depends upon the term to maturity. In the near term the yield exceeds 9%, but if the term of the bond goes out to 20 years, the actual yield to maturity will be less than 9%. a. Show the cash flows for the two bonds below, each of which has a par value of $1,000 and pays interest semiannually: B ond| Coupon Rate| Years to Maturity| Price| W| 7%| 5| $884. 20| Y| 9| 4| 967. 70| b. Calculate the yield to maturity for the two bonds. a. Bond W pays $35 twice a year for 5 years, pays $1000 in year 5. ond Y pays $45 semi-annually for 4 years and $1000 in year 4. b. Bond W’s cash flows must be discounted to equal $884. 20. Using a trial-and-error method of several rates the closest yield to maturity is 10. 6%. Try also using financial calculator to confirm this yield. Bond Y’s cash flows must be discounted to equal $967. 70. Using the trial-and-error method results this time in a yield to maturity of 9. 4%. 8. a. What is the credit risk associated with a U. S. Treasury security? b. Why is the Treasury yield considered the base interest rate? c. What is meant by on-the-run Treasuries? d. What is meant by off-the-run Treasuries? a. Essentially no credit risk Treasury securities are backed by the full faith and credit of the federal government. b. It has the least risk in terms of default risk and is highly liquid, since Treasury securities comprise the largest and most actively traded financial instruments in this country. c. â€Å"On-the-run† Treasury issues are the most recently auctioned issues for each maturity. â€Å"Off-the-run† issues are the older ones, auctioned before the current coupon issues 3. In the May 29, 1992, Weekly Market Update, published by Goldman Sachs amp; Co. the following information was reported in various exhibits for certain corporate bonds as of the close of business Thursday, May 28, 1992: Issuer| Rating| Yield | Spread| Treasury Benchmark| General Electric Capital Co. | Triple A| 7. 87%| 50| 10| Mobil Corp. | Double A| 7. 77| 40| 10| Southern Bell Tel amp; Teleg | Triple A| 8. 60| 72| 30| Bell Tel Co Pa| Double A| 8. 66| 78| 30| AMR Corp| Triple B| 9. 43| 155| 30| a. What is meant by rating? b. Which of the five bonds has the greatest credit risk? c. What is meant by spread? d. What is meant by Treasury benchmark? e. Explain how each of the spreads reported above was determined. f. Why does each spread reported above reflect a risk premium? a. A rating refers to a published indicator of creditworthiness or probability of default. b. The AMR Corp. has the greatest credit risk, because at Triple B it has the lowest rating of the group. c. Spreads are differences in yields among bonds. Most commonly the spread is calculated as the excess yield over a benchmark Treasury security. d. The Treasury benchmark is the government security with the same maturity as the corporate security under consideration. e. Each spread was determined by subtracting the appropriate Treasury benchmark yield as of May 29, 1992 from the non-Treasury security of the same maturity. f. The spread in each case constitutes a risk premium for bearing default and liquidity risks that are not inherent in Treasury securities. 4. What is meant by an embedded option in a bond? a. Give three examples of an embedded option that might be included in a bond issue. b. Does an embedded option increase or decrease the risk premium relative to the base interest rate? a. An embedded option in a bond can be associated with convertible bonds. The holder has a call option to convert into stock at his will and he is willing to pay a premium in terms of a lower yield for this privilege. The issuer may have an embedded option in terms of callability , forcing the bondholder to sell back the security at a given price at a time of the issuer’s choosing. b. Convertible features, putable bonds (that allow bondholders to sell the securities back to the issuers at par), and warrants attached to bonds are examples of options that may be included in bond issues. c. The answer depends on the nature of the option. If the buyer has a call option he will pay more for the bond and accept a lower yield. If the issuer has an option like a callable feature on a bond, he is paying a price in terms of a higher yield or lower bond price. Chapter 11 1. What is a yield curve? a. Historically, why has the Treasury yield curve been the one that is most closely watched by market participants? a. A yield curve is a geographical representation of the term structure (the relationship between yield to maturity and the term to maturity) of securities having the same credit rating. . Treasury securities are risk-free with respect to credit and liquidity, and their yields serve as benchmarks for other securities. 2. What are the types of risks associated with investing in bonds and how do these two risks affect the pure expectations theory? The expectations theory suggests that rates will change over time in some direction. The prospect of changing yields creates two risks related to bond investment: (1) the price risk (value of principal if sold prior to maturity) and the reinvestment risk. Low rates may be good for price increases, but their favorable impact is partially offset by investors having to reinvest earnings at these low rates Chapter 12 1. Assume the following: Expected market return = 15% Risk-free rate = 5. 7% If a security’s beta is 1. 3, what is its expected return according to the CAPM? The expected return is: .07+1. 3 (. 15-. 07) =. 174=17. 4%, (assume risk free rate =7%). 2. What are the difficulties in practice of applying the arbitrage pricing theory model? a. Does Roll’s criticism also apply to this pricing model? b. In the CAPM investors should be compensated for accepting systematic risk: for the APT model, investors are rewarded for accepting both systematic risk and unsystematic risk. † Do you agree with this statement? a. The difficulty lies in identifying the systematic factors. b. Roll’s criticism does not apply to the APT model because that model does not rely on a true market index. c. This statement is true for the CAPM, but not for the APT model. The latter also asserts that investors should be compensated only for accepting systematic risk. But unlike the CAPM, there is more than one systematic risk. Chapter 17 1. How does common stock differ from preferred stock? b. Why is preferred stock viewed as a senior corporate security? a. Preferred stock is entitled to a fixed participation in the form of dividends of the earnings of the company. Dividends must be declared and ordinarily they are at the discretion of the board. Common stock is entitled to the residual cashflow, and is junior to the preferred stock both in terms of distribution and liquidation preference. b. Preferred stock is considered a senior instrument because dividends must be paid before any distribution of dividends can be made to the common stockholders. Also, in a liquidation, the preferred stockholders are paid before the common stockholders, who are considered residual claimants. 2. Explain the mechanics and some key rules of a short sale. a. What restrictions are imposed on short selling activities? a. A short seller borrows the stocks to sell on the market, giving the proceeds of the sale to his broker as collateral. Should prices decline he will buy the stocks, return them to the broker and obtain the sales proceeds. b. A short sale must be announced at the time the order is given , and it can occur only after an uptick in the market price of the stock. The short seller is also responsible for paying any dividends due on the stocks before he covers them with a purchase. 3. What are the three general types of stock market indicators? Stock market indicators can be classified into three groups: (1) those produced by stock exchanges based on all stocks traded on the exchange; (2) those produced by organizations that subjectively select the stocks to be included in indexes; (3) those where stock selection is based on an objective measure, such as the market capitalization of the company. Chapter 18 1. Explain the two ways in which an order-driven market can be structured. An order-driven market can be structured in two ways: (1) continuous market, where a trade can be made at any moment in continuous time; (2) call auction, where orders are batched together for a simultaneous execution in multilateral trade at a specific point in time 2. Why is the Nasdaq referred to as a â€Å"fragmented market†? Nasdaq is a fragmented market because its stocks can be traded off the exchange. 3. What are the two sections of the Nasdaq stock market? The two sections are the Nasdaq National Market (NNM) and the Small Cap Market. . What are the three parts of the OTC market for stocks? There are three parts to the OTC market: two under Nasdaq and a third market for truly unlisted stocks (which is composed of OTC Bulletin Board and the Pink Sheets). Chapter 26 1. Suppose you bought a stock index futures contract for 200 and were required to put up initial margin of $10,000. The value of the co ntract is 200 times the $500 multiple, or $100,000. On the next three days, the contract’s settlement price was at these levels: day 1, 205; day 2, 197; day 3, 190. a. Calculate the value of your margin account on each day. b. If the maintenance margin for the contract is $7,000, how much variation margin did the exchange require you to put up at the end of the third day? c. If you had failed to put up that much, what would the exchange have done? a. Day 1 Price = $205 x 500 = $102,500, Margin = $12,250 Day 2 Price = $197 x 500 = $ 98,500, Margin = $ 8,500 Day 3 Price =$190 x 500 = $ 95,000, Margin = $ 5,000 b. Add $2,000 to meet variation margin requirements on the third day. c. If the margin call was not met, the exchange would have liquidated the position. 2. â€Å"The futures market is where price discovery takes place. † Do you agree with this statement? If so, why? If not, why not? Agree. This is true when there is a well-developed futures market that is more advantageous to use by market participants for changing their price exposure to an asset. Investors can more easily become involved in the market because the wealth required to participate is relatively small. a. What is meant by open interest? b. Why is open interest important to an investor? a. Open interest is the number of contracts outstanding. It is a measure of the liquidity of the contract and therefore important to portfolio managers who want to implement strategies using the contract 3. What is meant by an OTC derivative product? Customized derivative products, such as forward contracts, are called Over-the-counter derivatives. 4. What is the major concern with banks creating OTC derivative products? Banks that create OTC derivative products may put themselves in a position that could create severe financial problems. These banks may not have proper risk management systems in place to effectively monitor their risk exposure. Identify and explain the key features of an option contract. The exercise price is the price at which the holder of an option has the right to buy or sell a security. The expiration date is when the option holder’s right to sell or buy a stock expires. The premium is the price paid for an option. It is the consideration given for a contract, which binds the other party to buy or sell a security, if required. The underlying asset is the item which can be bought or sold by the option holder. 5. What is the difference between a put option and a call option? A put option is the right to sell a security at a specified price within a specified period of time. A call option is the right to buy a security at a specified price within a specified period of time. 6. What is the difference between an American option and a European option? An American option can be exercised anytime up to the date of expiration. A European option can only be exercised at the time of expiration 7. Explain why you agree or disagree with this statement: â€Å"Buying a put is just like short selling the underlying asset. You gain the same thing from either position, if the underlying asset’s price falls. If the price goes up, you have the same loss. † Buying a put indicates the same intention as short-selling a security. In both cases the speculator hopes to take advantage of a decrease in price of the security. The effect, however, is different on two counts. First, the short seller is taking a risk that prices may rise, that he may have to purchase the security at a higher price than he sold it. The put option holder’s maximum loss would be the price of the premium should he not exercise the option. Second, leverage also makes a difference. The short seller has to place the entire amount of his sale with the broker as collateral. The put holder has only a small amount invested, i. e. , the premium. Modest price decreases magnify his gains.