Analysis of Healthcare Models

Investigation of Healthcare Models The biomedical and social model for wellbeing The Ottawa Charter for Health Promotion VicHealth and VicHealth financed ventures Numerous models of wellbeing exist intensive out the world. At the point when an administration or associations is deciding the most fitting model to execute factors, for example, cost, capacity to accomplish wanted results and achievability must be thought of. The models of medicinal services that assume the biggest job in the strength of Australians are the biomedical and social models of wellbeing. The biomedical model of wellbeing The biomedical model of wellbeing focusses on ideal physical wellbeing for people. This model focusses on analysis and treatment of wellbeing conditions, with the objective of returning individuals to their pre-condition sound state. This model depends vigorously on emergency clinics, pharmaceuticals and clinical innovation to accomplish this objective and is a costly model. The biomedical model is broadly acknowledged and shapes the premise of human services all through the western world. Preferences and impediments of the biomedical model of wellbeing Preferences Expands populaces future as medicines advance Powerful at rewarding normal issues and returning individuals to a sound state Can prompt advances in clinical innovation Can improve the personal satisfaction for individuals with constant conditions by means of drugs and so on. Weaknesses Utilization of cutting edge clinical innovation and the wellbeing framework to analyze and treat conditions is exorbitant for governments Doesn't deliver factors that lead to the advancement of specific wellbeing conditions Not all wellbeing conditions can be restored, anyway they can regularly be overseen through conduct alteration which this model doesn't consider Paying for meds and treatment by means of the biomedical methodology can be costly for people The social model of wellbeing The social model of wellbeing focusses on impacts that can prompt unexpected frailty. It plans to improve wellbeing and prosperity by coordinating endeavors towards tending to social, monetary and ecological determinants of wellbeing. Rather than an individual methodology, this model focusses all the more extensively on networks and populaces trying to advance ideal wellbeing. There are five key standards to the social model of wellbeing: Addresses the more extensive determinants of wellbeing Factors, for example, sexual orientation, financial status, culture, physical condition, instruction and ethnicity can impact the wellbeing of individuals. The social model of wellbeing looks past the organic determinants and spotlights on how wellbeing and prosperity can be affected by such more extensive determinants. Acts to diminish social imbalances Nature of social insurance, access and utilization of medicinal services ought to be equivalent over all gatherings in the network. The social model of wellbeing acts to guarantee financial status, sexual orientation, race, area or physical condition don't decrease value. Enables people and networks At the point when individuals deal with choices and activities affecting their wellbeing they become enabled. The social model of wellbeing acts to engage and this may happen through expanded wellbeing information and can occur on an individual premise or all things considered as a network. Acts to empower access to medicinal services Human services and wellbeing data ought to be open and moderate to address people groups issues. Social determinants that can impact this entrance incorporate financial status, social hindrances and training levels. The social model helps to lower such boundaries to empower access to human services. Includes intersectorial cooperation The administration, non-government associations and the private segment should work in an organization to address the more extensive determinants that impact people wellbeing. More noteworthy network wellbeing has positive ramifications for all areas and joint effort ought to be looked for between such gatherings. Abbreviations are regularly a convenient method to recollect a great part of the information shrouded in the HHD course. The abbreviation AREAS or IDEAR might be utilized to recall the standards of the social model of wellbeing. Territories Addresses Lessen Enables Acts interSectorial IDEAR Intersectorial Determinants Enables Access Lessen Shutting the hole crusade showing the standards of the social model of wellbeing. Since 2006, Australias top Indigenous and non-Indigenous wellbeing bodies, NGOs and human rights associations have cooperated to accomplish wellbeing and life desire balance for Australias Aboriginal and Torres Strait Islander people groups. This is known as the Close the Gap Campaign. The Close the Gap Campaign accomplices have created focuses to help the accomplishment of Indigenous wellbeing uniformity over numerous regions. Key targets incorporate those to help: critical decreases in the paces of Aboriginal and Torres Strait Islander demise and ailment from maladies and ceaseless conditions; the conveyance of the important essential social insurance administrations for wellbeing equity to Aboriginal and Torres Strait Islander people group, especially by Aboriginal Community Controlled Health Services; huge enhancements to lodging (with the goal that it underpins great wellbeing) in Aboriginal and Torres Strait Islander people group; an emotional increment in the accessibility of new and sound food supplies in Aboriginal and Torres Strait Islander people group; and huge decreases in the pace of smoking among Aboriginals and Torres Strait Islanders. The Closing the hole crusade mirrors the standards of the social model of wellbeing in the accompanying manners: Addresses the more extensive determinants of wellbeing: The program is endeavoring to address determinants, for example, conduct rehearses, for example, solid food utilization, and social impacts, for example, lodging, that sway on the strength of indigenous individuals. Acts to lessen social disparities: Social imbalances, for example, access to human services are being tended to in this program. Enables people and the network: Providing an expansion in the accessibility of new and sound food supplies, permits people and networks the decision to participate in wellbeing conduct. Related to training with respect to the advantages of these nourishments, this program will endeavor to enable individuals so they believe they have power over their wellbeing. Acts to empower access to medicinal services: Increasing access to essential human services administrations, including conveyance of these administrations by Aboriginal and Torres Strait Islanders where conceivable, decreases boundaries that may keep indigenous individuals from accomplishing ideal degrees of wellbeing.- Involves intersectorial coordinated effort: In this crusade government and non-government associations are cooperating and hence there is the capacity to impact an expansive scope of social factors that impact indigenous wellbeing. Different projects that depend on the social model of wellbeing incorporate the Swap it, Dont stop it activity, the Quit battle and the SunSmart program. A dynamic culture, for example, Australias, doesn't decide to utilize either the biomedical model of wellbeing or the social model of wellbeing, however consolidate the two ways to deal with take a stab at ideal degrees of wellbeing inside their populace. The Ottawa Charter for Health Promotion One of the most huge commitments to the advancement of Public Health happened at the First International Conference on Health Promotion held in Ottawa, Canada in 1986. Coming from the social model of wellbeing this gathering saw the improvement of The Ottawa Charter for Health Promotion. The Ottawa Charter is a structure to help governments and associations around the globe when creating wellbeing advancement techniques. The Ottawa Charter perceives that all together for wellbeing additions to happen the accompanying fundamental conditions and assets must be accessible: Harmony Haven Training Food Pay A stable eco-framework Feasible assets Social equity and value The Ottawa Charter likewise diagrams that the accompanying three fundamental requirements are the establishment for wellbeing advancement: Promoter Political, monetary, social, social, natural, conduct and organic variables would all be able to support wellbeing or be destructive to it. Wellbeing advancement activity targets making these conditions great through promotion for wellbeing. Empower Wellbeing advancement centers around accomplishing value in wellbeing. Wellbeing advancement activity targets lessening contrasts in current wellbeing status and guaranteeing equivalent chances and assets to empower all individuals to accomplish their fullest wellbeing potential. Intervene Wellbeing advancement requests composed activity by completely worried: by governments, by wellbeing and other social and monetary areas, by nongovernmental and deliberate association, by neighborhood specialists, by industry and by the media. Expert and social gatherings and wellbeing work force have a significant duty to intercede between varying interests in the public arena for the quest for wellbeing. Need/Action Areas of the Ottawa Charter for Health Promotion At the point when wellbeing advancement techniques and projects are formulated by governments or associations there is the expectation to accomplish different wellbeing results. The accompanying need or activity zones are suggested for use by The Ottawa Charter for making a wellbeing advancement program. Not all territories need be tended to in each system. Fabricate Healthy Public Policy This activity territory asks governments and authoritative approach producers to know about the wellbeing outcomes of their choices and to acknowledge their obligations regarding wellbeing. Arrangements that include tax assessment and enactment can impact the practices of people, prompting either constructive or contrary effects on wellbeing. For instance an enactment that keeps individuals from smoking inside at a café, would then be able to make it simple for a family to choose to go out for supper and not put the strength of their relatives in danger. Wellbeing advancement urges wellbeing to be on the plan for approach producers in all segments and all levels. Make Supportive Environments This a

Analysis for Still I rise Maya Angelou Essay Example

Investigation for Still I rise Maya Angelou Essay Example Investigation for Still I rise Maya Angelou Paper Investigation for Still I rise Maya Angelou Paper Exposition Topic: Verse You may record me in history With your harsh, contorted untruths, You may trod me in the earth Yet, similar to tidy, Ill ascent. It implies that there are individuals throughout your life that are going to say awful lies regarding you which will make you perhaps miserable however regardless of how awful these untruths are you can in any case get up and not let these falsehoods keep you away from your objectives Does my brazenness upset you? For what reason would you say you are plagued with unhappiness? Cause I walk like Ive got oil wells Siphoning in my front room. Much the same as moons and like suns, With the conviction of tides, Much the same as expectations springing high, Still Ill ascent. In the event that u r attempting to trouble me when I am not hurting you on the grounds that there are contrasts between you and me that still wouldnt hurt u, I will in any case rise and wont think about how severely u separate me so I will in any case rise and arrive at my objectives Did you need to see me broken? Bowed head and brought down eyes? Shoulders tumbling down like tears, Debilitated by my deep cries? Does my haughtiness annoy you? Dont you take it dreadful hard Cause I snicker like Ive got gold mines Diggin in my own lawn. You may shoot me with your words, You may cut me with your eyes, You may execute me with your disdain, Yet at the same time, similar to air, Ill ascent. Does my provocativeness upset you? Does it come as an astonishment That I move like Ive got jewels At the gathering of my thighs? Out of the cottages of historys disgrace I rise Up from a past that is established in torment I rise Im a dark sea, jumping and wide, Welling and expanding I bear in the tide. Deserting evenings of dread and dread I rise Into a dawn that is wondrously clear I rise Bringing the blessings that my precursors gave, I am the fantasy and the expectation of the slave. I rise I rise I rise. Generally speaking I need to reveal to you that anyway you attempt, at that point you are sitting around on the grounds that at whatever point you will attempt to hurt me I will even now not surrender

USFA Application Essay Samples

USFA Application Essay SamplesWhat does a USFA application essay look like? This is a question often asked by applicants when they are entering the application process. In fact, many of them do not know that USFA offers such a program. Let us look at this in more detail.The USFA offers a variety of essay samples to assist students in writing application essays. These samples can be used in-house or they can be used for placement. For those who have been accepted to USFA in-house, these samples can be a great help in writing their acceptance letter. With the exception of the first sample, these samples will be graded for content and grammar, including spelling and syntax errors. These are normally graded by professionals who are specially trained to read the USFA application essays and grade them.These samples should be used as a guide in preparing the application essay. Some of the samples are specifically meant for USFA students. Others are for other students, however, it is a good idea to familiarize yourself with these samples before applying to USFA so that you can use them when you write your own essay.One of the better examples of a USFA application essay sample is the Worldview application essay. The objective of this essay is to explore the student's own beliefs and values. It will provide a basis for the student to develop her vision, identity, mission, and values for her future as a practicing religious scholar.The Values essay is a second example that is used by USFA. The USFA Values is outlined in a series of questions which can be completed by the student. They are comprised of five issues, which include Truth, Justice, Peace, Honesty, and Loyalty.The third example of aUSFA application essay is the Outcomes essay. This is used as a guideline for students in determining what they want to achieve. The Outcomes can be from a combination of four categories. One of these categories is Marriage/Family; Education, Fitness, Marriage, and Community.The four th example of USFA essay samples is the Presidential essay. This requires the student to write a persuasive essay on the topic of who is the best qualified to serve as President of the United States. This essay should offer insight into how the candidate would contribute to a variety of factors that the United States needs to address. It should also include praise for the candidate, some criticisms, and comparisons of each candidate to current US President.There are many other examples of USFA essay samples that can be used in conjunction with these programs. Students will need to carefully read the materials that they are given and look at the examples to decide what each type of essay samples will consist of. Each USFA student is encouraged to do research and gather information before applying.

The Sun Also Rises And Hills Like White Elephants

Charles Padial Professor Anderson Literature October 31, 2015 Essay 1 Ernest Hemingway has a very unique style of writing. He captures the readers’ attention with strong imagery, metaphors, and symbolism. In both the Sun Also Rises and Hills Like White Elephants, Hemingway uses a simple writing style that allows the audience to have a clear image of the main argument. The reader must pay very close attention to the dialogue, as different subliminal messages are exposed throughout the story. Also, in both stories the women protagonist is the main source of the argument. In Hills Like White Elephants, Hemingway tells a simple story about a couple who is arguing about an abortion. Through the woman’s dialogue, the readers grasp that she does not want to get the operation done, even though she never states that directly. As the man tries to convince her, she, obviously, becomes more and more frustrated with him. For example the woman says, â€Å"I feel fine. There’s nothing wrong with me. I feel fine†(478). From this dialogue, the reader can acknowledge that the woman by no means is going to give into the man’s persuasion and, ultimately, the final decision will be hers. However, the man does not seem to care that the operation could potentially harm the woman. For example, he describes the abortion, â€Å"It’s really an awfully simple operation, Jig. It’s not really an operation at all†(476). The reader grasps that the man is selfish, does not put himself in the woman’s shoes, andShow MoreRelated Ernest Hemingway s The Sun Also Rises1353 Words   |  6 PagesHemingway creates The Sun Also Rises to do both jobs. It’s a lot harder to visualize something if there is not enough description, but Hemingway uses the right amount of detail to paint a picture of every lesson he wants to teach. Colors are a very important part of describing how things look, and they can also be used relatively with a strong characteristic of one’s character. Hemingway uses color throughout the novel as a way to characterize important themes. In particular, white symbolizes purityRead More Personal Narrative: My Visit to Agra and the Taj Mahal Essay1190 Words   |  5 PagesTaj Mahal Out of many places I visited all around the world, the place I like the most is the beautiful city of Agra. It’s a quite town located on the North of India. When we talk about Agra one image that comes in mind is Taj Mahal. Yes one of the seven wonders is here. Agra is full of architectural monuments. And I also visited Agra Fort, Fatehpur Sikri, and Buland Darwazaand. Food was not really good. Besides Taj Mahal, Agra is famous for handicrafts, leather and fine arts. It was fun shoppingRead MoreThe Sun Also Rises By Ernest Hemingway Essay2149 Words   |  9 Pagesthroughout his stories. Ernest Hemingway is able to keep the readers engaged throughout this novel by incorporating symbolism in his writing such as water for cleansing the soul, color as a sign of purity, and elevation as a reflection of mood. The Sun Also Rises, a novel by Ernest Hemingway. The novel takes place in Europe in the early 1920’s after World War I. The narrator and main character Jake Barnes is a simple quite man; he is a foreign correspondent for a newspaper in the United States. A friendRead MoreBiography of Ernest Hemingway Essay1257 Words   |  6 Pagesâ€Å"They only want to kill when they’re alone. Of course, if you went in there you’d probably detach one of them from the herd, and he’d be dangerous (Hemingway).† This quote, from Hemingway’s The Sun Also Rises, was one of his many pieces of work that helped light the way for new authors. Hemingway believed that minimal details created a better story, leaving mysteries for readers to solve on their own. Hemingway described his style as the Iceberg Theory. Hemingway deserves to be in the literaryRead MoreThe Ticking Time Bomb By Ernest Hemingway1716 Words   |  7 PagesTo name a few of his accomplishments he won a Nobel Prize in Literature, published seven novels, six short story collections, and two non-fictions pieces. Some of his more famous works include â€Å"The Sun Also Rises†, â€Å"A Farewell to Arms†, and a short story often read in college, â€Å"Hills Like White Elephants†. All this to say Ernest Hemingway was an incredibly gifted writer with a God given talent. He is discussed through-out the world in college classes and by many literary scholars. He is discussed inRead MoreConfucianism in Journey to the West31834 Words   |  128 PagesMaterial†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 16 5. Analysis†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 17 5.1 Content Selection†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 17 5.1.1. Omitted Content: From Evil Monkey to Holy Buddha†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 18 5.1.2. Added Content: The Victim Called Sun Wukong†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 21 5.1.3. Altered Content: Mischief or Sins?............. 22 5.2. Differences in Referential Methods†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 24 5.2.1. The Decrease in â€Å"Dialogue Content† – Do Actions Speak Louder Than Words?......Read MoreStylistic Potential of the English Noun16714 Words   |  67 Pagescenturies as Blake W., ColeridgeS.T., Munro H., Poe A.A., Hemingway E., Salinger J.D, etc. The aim of this chapter is to put the considered theory into practice showing the way the phenomena have been dealt with work out. The examples are organized also according the four nounal categories mentioned above in the following way: Examples regarding the category of gender (2.1) (Here we distinguish two groups: (1)A neuter noun used as feminine; (2)A neuter noun used as masculine, explaining the purposeRead MoreA Picatrix Miscellany52019 Words   |  209 Pagesand Tà ¢bit ibn Qurra, as well as two extracts from a treatise ascribed to Aristotle, which is later quoted entire in Book IV, chapter 4. (pp.34-36). Examples are given of the â€Å"incantation† of talismans to make them effective. These formulae are also to be found in the Ihwà ¢n al-Safà ¢Ã¢â‚¬â„¢, where they are attributed to Hermes. This completes the practical instruction given in Book I. Then comes a postscript and the chapter concludes with an evaluation of magic and alchemy (pp.38-39). The two final chaptersRead MorePhysics in Daily Life13985 Words   |  56 Pagesand simple trigonometrical functions (sin, cos, tan, and their inverses in degrees) is recommended. Standard notation and SI units will be used. When one quantity is divided by another, the solidus will be used, e.g. m/s but the notation ms-1 will also be accepted. The acceleration of free fall, g, which will be given in the question paper, will be taken as 10 m/s2. Supplementary Units 3 SEC Syllabus (2012): Physics Practical Work Aims Through practical work candidates should be able to carryRead MoreMandinka Empire21578 Words   |  87 Pageswhat became English. Long before studying the Mandinka as an anthropologist in west Africa, I was exposed to their legacy in the United States through my contact with the Gullah of Saint Simons Island, Georgia, my home town. The correlation between a white minority and the Mandification of the 1 See Djinns, Stars and Warriors, Mandinka Legends from Pakao, Senegal, published by Brill Press in 2003, containing oral traditions I collected in 1972 and 1974 in the Pakao region of middle Casamance in southern

Law Enforcement Today - 773 Words

Assignment Law Enforcement Today CJS/200 May 20, 2012 Ryan A. Conti Law Enforcement Today Today’s law enforcement officers are faced with difficult challenging issues. Being trained efficiently is most important so they know how to respond to the many different issues. According to Schmalleger (2011), corruption, on duty dangers, deadly force, and racial profiling are just some issues today’s law enforcement has to deal with. Multicultural society is one of the main challenges that police officers face on a day to day bases. To â€Å"protect and serve† is the number one duty of law enforcement. According to Schmalleger (2011), it is important as a police officer to understand and respect the different habits,†¦show more content†¦Excessive force is â€Å"the application of an amount and/or frequency of force greater than that required to compel compliance from a willing or unwilling subject† (Schmalleger, 2011). One issue that has been constant is racial profiling. No matter how far along we as people have come along racial profiling will always be an issue but has only come to the nation’s attention in the 1990’s. Schmalleger (2011) stated, â€Å"Racial profiling can be defined as any police action initiated on the basis of the race, ethnicity, or national origin of a suspect, rather than on the behavior of that individual or on information that leads the police to a particular individual who has been identified as being, or having been, engaged in criminal activity† (p.284). Majority of these cases are done toward minorities, Latinos, African Americans, and since 9/11 Middle Eastern get profiled as an illegal alien, gangster, or terrorist. Terrorism has become a serious issue since the 9/11 attacks. Local, state, and federal law enforcement has been working with the Department of Homeland Security (DHS). Counterterrorism efforts are in full effect and have priority. The Federal Bureau of Investigation (FBI) has the responsibility of trying to predict and pr event terrorism attacks. For the FBI to be able to do this they collect, analyze, and share information with the Central Intelligence Agency (CIA)Show MoreRelatedLaw Enforcement Today763 Words   |  4 PagesLaw Enforcement Today Paper Chelsea Berry Foundations of the Criminal Justice System June 2, 2013 Gary Lair Many police departments are facing budget problems, forcing them to cut their police force down. Many officers are being asked to do things they normally dont do such as patrolling. Police departments are also facing increasing crimes due to the poor economyRead MoreLaw Enforcement Today Paper1056 Words   |  5 PagesAngeles Police Department, more and more law enforcement administrators are faced with the task of reforming police department, with little guidance on how to bring about the necessary changes. This is not the first time in our country’s history that corruption and brutality have been front page news. Part of our current problems stem from the unprecedented level of drugs, gangs and guns in our cities. Systemically, the problems are caused by law enforcement agencies that continue to hire the wrongRead MoreLaw Enforcement Today s Society978 Words   |  4 Pages Law Enforcement Today Paper Lorie Daniels CJS/200 SUNDAY JULY 26, 2015 Scott Smith Law Enforcement Today Paper The police roles in today’s society are to try to maintain the order as well as to control to keep the public safe. I will describe the issues that police departments are experiences in today society. The police departments are facing from today’s society are corruption, as well as danger on the job, and most of all the use of deadly force. For the police when things start toRead MoreSurveillance Cameras Essay1254 Words   |  6 PagesSurveillance Cameras How are kids safe at night? 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In response to this civil unrest, the President s Commission on Law Enforcement and the Administration of Justice (1967) recommended that the police become more responsive to the challenges of a rapidly changing society. In response to civil unrest, the President s Commission on Law Enforcement and the Administration of Justice (1967) recommended that the police become more responsive to the challenges of a rapidly changing societyRead MoreLaw Enforcement Cameras an Invasion of Privacy1083 Words   |  5 PagesThe past decade has seen a proliferation of law enforcement security cameras in public areas, with central London having more cameras than any other city. In cities like New York, Los Angeles, and central London, cameras can be found at almost every intersection. Terrorist attacks have been a major basis for this significant increase in law enforcement security cameras; however, privacy advocates, along with many of the public, feel that it’s an invasion of privacy. 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Law enforcement officers who train in these techniques have shown increased accuracy when determining if a subject is telling the truth; however, these highly trained officers are sometime too efficient, causing innocent subjects to believe they have perpetrated a crime. Legislators are working to combat

The Enduring Vision (vol. 5)Chapter 12 Outline Free Essays

Deyon Keaton Sotnick Chapter 13: Immigration, Expansion, and Sectional Conflict, 1840-1848 l. Introduction: After the murder of Joseph Smith, Brigham Young led the main body of Mormons from Illinois to a new homeland in the Great Salt Lake valley. In part, Youngs aim was to flee persecution by Gentiles (non-Mormons). We will write a custom essay sample on The Enduring Vision (vol. 5)Chapter 12 Outline or any similar topic only for you Order Now Reasons for Mormons to head west: (1) Deseret lay outside the United States; and Smith’s murder had led many Mormons to conclude that they could no longer live along the Gentiles. 2)Gentiles were also on the move west; the very remoteness and aridity of Deseret made it unlikely that ny permanent settlement of Gentiles would take place. Mormons earned money in their new city by trade with Gentile wayfarers in less than a thousand days into James K. Polk’s presidency, the US had increased its land area by at least 50 percent. Most immigrants gravitated to the expansionist Democratic party, and the immigrant vote help to tip the vote to Polk, an ardent expansionist. Democrats saw expansion as a way to reduce strife between the sections. Oregon would go to the North, Texas the South and California to everyone. II. Newcomers and Natives A. Expectations and Realities A desire for religious freedom drew some emigrants to the United States. Their hope was fed by a continuous stream of travelers’ accounts and letters from relatives describing America as a utopia for poor people. But many emigrants faced difficulties. Many spent savings on tickets to boats that were delayed for months and many others were sold meaningless tickets. They encountered six weeks or longer on the sea, packed almost as tightly as what slaves encountered, and travelling on cargo ships. When they landed, they soon found that farming in American farms was very solated, unlike in Europe where social and cultural lives revolved around communities. The Irish, who usually arrived in New England, found little land or capital for farming, and crowded into urban areas. Likewise, Germans, who arrived in New Orleans, found little opportunity with slave labor, and moved upriver and into urban areas where there was a community. By 1860. these two groups formed more than 60 percent of the population of several major cities. B. The Germans In 1860, Germany was not a national-state but, a collection of small kingdoms. German immigrants came from a wide range of social classes and occupations. For all their differences, a common language kept them together, and German neighborhoods developed and prospered, much to the enw of Anglo-Americans who disdained their clannishness. In response, Germans became even more clannish. C. The Irish Between 181 5 and 1860, the Irish immigration into the United States passed through starving as many as a million people to death. To escape this, 1. 8 million Irish people migrated to the US between 1845 and 1854. Overwhelmingly poor and Catholic, the Irish usually entered the workforce near or at the bottom. Irish men dug cellars and lived in them, or made canal and railroad beds. Women became domestic servants and entered the workforce at an early age. Irish usually married late, which makes natural the large number of single Irish women in America. Yet some struggled up the social ladder, becoming foremen and supervisors. Others rose into the middle class by opening grocery and liquor stores. The two groups both brought conflict. The poorer Irish competed directly with free blacks, stirring up negative emotions towards blacks and abolitionists. Meanwhile, the middle class clashed with native- born white workers. D. Anti-Catholicism, Nativism and Labor Protest The hostility of native-born whites towards the Irish often took the form of anti- Catholicism. Even from Puritan times, there were high anti-catholic sentiments. Catholics made doctrine the province of pope and bishops. Conspiracies were rife. Future telegraph inventor, Samuel Morse, warned in 1835 that despotic Europe goverNew Mexicoent were flooding US with Catholic immigrants to destroy republican institutions. A protestant mob turned to ash a convent suspected to contain torture chambers the same year, while Lyman Beecher warned Protestants that Catholic immigrants to the West was a conspiracy to dominate the region. Maria Monks The Awful Disclosure of the Hotel Dieu Nunnery in Montreal brought back anti-Catholic feelings. The Order of the Star-spangled Banner would evolve into the ‘Know Nothing’, or the American Party and would become a major political force in the 1850’s. Protestants feared for their Jobs and feared that Catholic immigrants were a threat to their Jobs, in reaction many Protestants Joined nativist societies. E. Labor Protest and Immigrant Politics America cherished the notion that a nation with abundant land would never give way toa permanent class of wage slaves. Another of laborers’ response to wage cuts in he panic was supporting land reforms. Land reformers argued that labor for wages ended any hope of economic independence. Labor unions appealed to workers who did not see eye to eye with land reformers. In an important decision, the Supreme Court ruled in Commonwealth vs. Hunt, that labor unions were not illegal monopolies that restrained trade. Many immigrants quickly became politically active as they found labor organizations could help them find employment and lodging. Immigrants usually supported the Democratic party for they felt that Jackson gave a non- aristocratic feel. In addition, Whigs supported anti slavery which would create more competition for immigrants By the same token, the Democratic party persuaded immigrants that national issues such as banking and tariffs were vital to them. In the 1840s, Democrats tried to convince immigrants that national expansion likewise advanced their interests. II. The West and Beyond A. The Far West Obstructed by The Great Plains, many Americans began moving past the Rocky Mountains to the Far West. The Adams-Onis (Transcontinental) Treaty had left Spain in undisputed possession of Texas as well as California and the New Mexico territory. In 1821, Mexico gained independence and took over all Spanish North American Oregon Country. Collectively, the territories Texas, New Mexico, California, and Oregon was an extremely vast land, but during the 1820s, these lands were viewed by US, I-JK, and Mexico as a remote frontier. B. Far Western Frontier The earliest American and British on the West Coast were fur traders who had reached California by sailing around South America. In the otherwise undeveloped CA economy, hides were called â€Å"California bank notes. † The trade in CA caused little friction with Mexico because Mexico produced virtually no manufactured goods. Hispanic people born in California (called Californios) were as eager to buy as the traders were to sell†so eager that they sometimes rowed out to the vessels laden with goods, thus sparing the traders the trip ashore. Trading links also developed in the 1820s between St. Louis and Santa Fe along the Santa Fe Trail. The Panic of 1819 left many midwest Americans with a lot of unsold goods. They loaded wagons with goods and rumbled westward along the trail. To a far greater extent than Spain, Mexico welcomed this, as more than half the goods entering through Santa Fe trickled into internal Mexico. So popular was this trade that the Mexican silver peso traders brought back became the principal medium of exchange in Missouri. C. The American Settlement of Texas to 1835 During the 1820s, Americans began to settle the eastern part of Mexican state, Coahuila-Texas. Meanwhile, with Mexico’s independence came the end of Spanish missions, and many Natives returned to nomadic ways. In 1824, the Mexican govt. , wanting protection from Natives by American settlement, began bestowing generous land grants on agents known as empresarios. Initially, most Americans, like the empresario Stephen F. Austin, were content to live in Texas as naturalized Mexican citizens. But trouble brewed quickly as American settlers brought slaves. Mexico closed American immigration in 1830, but Americans continued to flood in with their slaves, and in 1834, Austin secured repeal of the 1830 prohibition. How to cite The Enduring Vision (vol. 5)Chapter 12 Outline, Papers

Speech as a Patriot free essay sample

They ask everything from us but give nothing in return. For to long have they taken away from us. We need to stand up to them and declare independence for ourselves. In the words of Thomas Paine Man did not enter society to be worse off, or to have fewer rights, but rather to ave those rights better secured. We did not come here to pay taxes and subjected to these injustices, we came to build a life of independence. We need to fight back and take what is ours. We need to stand up to the British and show them that together we stand strong. As a whole we need to come together to fight this battle for independence. Again Paines words ring true in stating, Those who want to reap the benefits of this great nation must bear the fatigue of supporting it. We must fght for what we want, and if that means fighting a war against the British then so be it, e will carry that burden to fght for a free country. We will write a custom essay sample on Speech as a Patriot or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page When we have independence we will have the right to our own government and our own democracy. We have a right to follow any religion along with the rights to our property, which includes paying taxes. We will have the right to many things that currently we have had taken away from use due to monarchial dictatorship of Britain. Paine also states, The duty of a patriot is to protect his country from its government. And right now the British government is abusing their power. They are using us, and we have done nothing. How long will this go on until we decide that enough is enough? We need to stand up to them now and claim what is rightfully ours. We have varieties of goods that we can trade in order to build our economy, however under the rules of the British we may only trade within their constraints. We have the potential to build up a strong and independent nation, as long as we sever ties with our dead weight mother. We have few numbers as an individual colony, but with the colonies combined to fight we have enough to beat the British. Paine states, It is not in number but in unity, that our great strength lies; yet our present numbers are sufficient to repel the forces of the world. The continent hath, at this time, the largest body of armed and disciplined men of any power under Heaven; and is Just arrived at the pitch of strength, in which no single colony is able to support itself, and the whole, who unite can accomplish the matter, and either more, or, less than this, might be fetal in its effects. We have distinct advantage in numbers as long as we unite as one, not to mention fghting on ur own soil gives us the upper hand in resources. If we refuse to let the British live in our houses, decline them food and leave them with nothing but the ship they came on we will force them back to where they came from. They have no power over us as long as we stand up and fight. The longer we sit submissive to their rules the harder it will be to tight bac k. We do not need them they need us. In closing I leave you with another quote from Paine fighting for independence is Nothing more than simple facts, plain arguments, and common sense.

10 Facts About Military Schools

10 Facts About Military Schools If you are looking at a private school for your son or daughter, military school is one option worth considering, particularly if you are looking for  a boarding school. Here are some facts about military schools to help you make that decision, including a few that may surprise you. There Are Approximately 66 Military Schools in the US There are approximately 66  military schools in the U.S., most of which serve students in grades 9 through 12. However, more than 50 of those military high schools also include junior high, typically grades six, seven and/or eight. A few schools enroll students in younger grades, but the military curriculum doesnt always apply. Most military schools are residential schools, which means students reside on campus, and some schools offer the option of boarding or day.   They Instill Discipline Discipline is the first word which comes to mind when you think of military school. Indeed, discipline is the essence of military schools, but it doesnt always refer to a negative form of discipline. Discipline creates order. Order creates results. Any successful person knows that discipline is one real secret to her success. Put a young, rough around the edges man in a military high school and the transformation will astound you. The structure smooths and refines. The program demands greatness from its participants. This environment is also a place for students looking to engage in advanced studies and leadership opportunities in a rigorous environment. The level of positive discipline prepares them for the rigors of college, careers or military involvement.   Build Character Being a team member, learning to execute orders and sacrificing ones personal needs for the good of the group - these are all character building exercises every good military school teaches its students. Service above self is an integral part of most military schools philosophy. Integrity and honor are core values to which every school commits. Students who attend military school leave with a sense of pride in themselves, their communities and their roles as good citizens of the world.   Selective Admission The idea that anybody can get into military school is simply not true. Military schools set their own individual admission requirements. In most cases, they are looking for young people who want to make something of themselves and succeed in life. Yes, there are some military schools devoted to helping troubled teens turn their lives around, but the majority of military schools are institutions with some of the highest admittance criteria around.   Demanding Academics and Military Training Most military schools offer extensive college preparatory courses as part of their academic curricula. They combine that demanding academic work with rigorous military training so that their graduates are poised to matriculate to college and universities everywhere. Distinguished Graduates The rolls of military schools are filled with distinguished graduates who have gone on to be successes in just about every endeavor you care to name. Not just in military service either. JROTC JROTC or Junior Reserve Officers Training Corps is a Federal program sponsored by the U.S. Army at high schools nationwide. The Air Force, Navy, and Marines offer similar programs. About 50% of JROTC program participants go on to active military service. JROTC provides an introduction to military life and philosophy at the secondary school level. It is an important part of most military schools programs. The instructors are usually retired officers of the armed forces. Leadership Development Developing leaders is at the core of a military schools philosophy. One of the objectives of that kind of training is to develop students leadership skills. Most schools offer carefully designed leadership programs designed to maximize each students fullest potential. A Path to the Service Academies Military schools are often seen as a path to the service academies. And, while it is true that they offer the right sort of training and experience the academies require, parents and students need to bear in mind that nominations to our nations service academies are extremely selective and limited. Only the best of the best get in. Patriotism Patriotism is at the core of military training. The history of our country and how it got to where it is in the 21st century is an important part of what military schools teach as well. Inspiring service to our nation is the mission of a military school. Resource Association of Military Colleges and Schools of the United States    Article edited by  Stacy Jagodowski

Legal literacy Solicitors Journal - Emphasis

Legal literacy Solicitors Journal Legal literacy Solicitors Journal As a solicitor, its likely that youre a skilled oral communicator. But if youre less than confident when it comes to writing, youre not alone. Many professionals havent received formal writing training and instead rely on copying the style of their predecessors. Unfortunately, traditional legal writing contains many archaic, wordy phrases, which can be a little perplexing for the average person. Communicating complex legal ideas isnt always easy. But youre treading on rocky ground if you dont pay attention to your reader. If your client finds your written documents vague, hard to understand or confusing, they may call elsewhere next time. Alternatively, they may begin to mistrust you or suspect that you are hiding something. Keeping it clear and simple The modern alternative is to opt for plain language a move that is becoming increasingly popular within the legal profession. For instance, Nabarro recently launched a high-profile, firm-wide Clarity Matters campaign to simplify the way it writes. The firm is working towards writing all its contracts in plain English. Its also provided specialist writing-skills training for all its fee earners and legal secretaries, as well as for many of its support staff. Other firms, such as SJ Berwin, DLA Piper and CMS Cameron McKenna, have also commissioned specialist writing-training programmes. What is plain language? Crucially, plain language is not about dumbing down or patronising the reader. Instead, it takes technical, difficult or complex ideas and communicates them in a structured, easy-to-read way. The first step is to think about your reader and avoid a one size fits all approach. Pick the best words to communicate your thoughts, depending on whether your reader is a lawyer or a layperson. At each stage, ask yourself whether they would be able to instantly understand what you mean. Plain language also means including technical language where necessary. Its about being precise and clarifying your points. A new legal language Its not only laypeople who are reaping the benefits of plain language programmes. An American study by law professor Joseph Kimble asked judges to state whether they preferred legal paragraphs written in plain English or traditional style. The majority of judges preferred the plain language versions. The message is that its worth making the extra effort to gain your readers trust by ensuring that your written communication is clear. All you need are the right tools and a little attention to detail. Here are the five major mistakes solicitors make and ways to fix them. Mistake one: unnecessary words, such as therein, herein, forthwith and aforesaid Poor prose: I herein enclose the contract for the aforesaid book, as requested Better prose: I enclose the contract for the book, as requested. Even better prose: Here is the contract for the book you requested. The herein and aforesaid in this example are just unnecessary and make the sentence sound archaic and stilted. Replacing them makes the sentence much more readable. Note that often as in this case it also makes it easier to edit the sentence further. Mistake two: verbosity Poor prose: Pursuant to the recent communication of the improper proposal that the information be falsified, such assertion could only have been ascertained or appreciated from a full, detailed review of the meeting notes. Better prose: The claim that the information was falsified is wrong. This would have been clear if a detailed review of the meeting notes had been conducted. The author of the first example is more than a little disgruntled. But the message is hidden behind too much flowery language. The second suggestion gets to the heart of the problem and makes the meaning clear. Note that the author uses the passive voice in the second example to soften the blow. You dont always have to use the active voice (see mistake four); just make sure that if you do use it, you do so consciously. Mistake three: using nouns instead of verbs Poor prose: In the case of X, we believe the company is in possession of a structure that would be acceptable for securitisation. Better prose: X possesses [or has] a structure that is acceptable for securitisation. Possession is a noun, whereas possesses is a verb. Verbs create action in the sentence which moves the pace along and helps keep the readers interest. We believe has also been taken out as the sentence already asserts the writers belief. Mistake four: overuse of the passive voice Poor prose: The role played by the client in the project has been investigated. Better prose: X investigated the clients role in the project. The first example doesnt tell us who investigated the role, creating a very impersonal tone. Using the active voice makes the writing easier to read. It also forces you to say who or what (the agent) is taking the action. The second example is more specific, which makes the reader feel connected to whats happening. Of course, the passive voice can also be useful when you dont want to admit responsibility for an action. Mistake five: long, complex sentences and paragraphs Poor prose: As per earlier correspondence, I have attached the quotes that we have obtained from three firms (a) Hooke, Lyne and Siennker (contacts David Hooke and Franz Siennker) (This is separate from the law firm but forms part of the same group, and also has a different administrative team)(b) Edna Clouds (contacts Clare Edna and Michael Clouds) and (c) Maybey Knott who are a limited company (the contacts there are Noel Maybey and James Knott). Better prose: Following our previous correspondence, I have attached quotes from three firms. The contacts for Hooke, Lyne and Siennker are David Hooke and Franz Siennker. Please note that this firm has a separate administration team, even though it is part of the same group. Edna Clouds contacts are Clare Edna and Michael Clouds. Maybey Knott Ltds contacts are Noel Maybey and James Knott. A sentence more than three lines is far too long. In the first example, there are also too many brackets and too much information squeezed in one space, which can become confusing. The second example takes out all the brackets and sets everything out much more clearly. Remember, writing clearly can save you both time and money. It may mean a bit of extra effort, but it may well pay dividends. Robert Ashton is Chief Executive of Emphasis, the specialist business writing trainers.

The Women in the Gospel of Luke Essay Example | Topics and Well Written Essays - 2000 words

The Women in the Gospel of Luke - Essay Example The Gospel of Luke and the Acts of the Apostles are actually two halves of one work written by one author, separated in the New Testament for purpose of orderliness. The first half, the Gospel of Luke deals with the story of Jesus up to the resurrection, most probably based on the eye-witness accounts of Mark. The second half, the Act of the Apostles, provides a historical account of church history up to the time of the apostle Paul's journey to Jerusalem. 2 There are many themes to be found in the gospel of Luke. Among them is what is termed "The Gospel of Women" in which Luke shows the importance of women in the story of Jesus which is peculiar to this gospel. The purpose of this paper is to investigate the attitude of Jesus attributed in the Gospel of Luke towards women and whether this was a reflection of the change in attitude towards women as a result of the teachings of Jesus. Women during the time of Jesus lived extremely restricted lives, in accordance with Jewish law and custom. They were little better than slaves, having little or no freedom and were completely subject to the authority of their men folk, first their fathers and later on their husbands. They were prohibited from talking to strangers or to go out in public unless they were double-veiled. They were not allowed to learn Hebrew scripture nor where they allowed to testify in court trials. Their husbands could divorce them at will but this option was not allowed them. 3 In the Gospel of Luke, Jesus was portrayed as the savior of all men, not only Jews, as he illustrates in the parable of the Good Samaritan. He shows Jesus as openly accepting of gentiles, whom orthodox Jews considered unclean, praising even a Roman centurion for unflinching faith. Luke further shows Jesus befriending the poor, tax collectors, outcasts and sinners.4 In other words, Luke portrayed Jesus as a man who treated all equally, giving special emphasis to marginalized groups, which in Israel at the time women were particularly marginalized in their community. In more ways than one, Jesus advocated the overthrowing of numerous Jewish traditions and customs, and Luke exemplifies more than the other gospels the radical (at the time) idea that women were equal to men in the eyes of Jesus. The following section will discuss in detail the passages in the Gospel according to Luke which illustrates this attitude. Passages pertaining to women in the Gospel of Luke Hebrew laws forbid the teaching of women in worship, yet Luke (10:38-42) tells the tale of sisters Mary and Martha, whom welcomed Jesus into their house, and Mary sat at the feet of Jesus to hear his teachings. When Martha reprimanded Mary for neglecting her womanly duties, Jesus takes Mary's part and allows her to stay. 5 This is an unusual situation at that time, when Jesus not only allowed, but encouraged Mary to learn his teachings and thus become a disciple. Moreover, Mary's forthrightness in seeking to learn was not how Jewish women were taught to behave, knowing only enough of the Torah to find their place in the community. This explains Martha's distress at what Mary did, but Jesus rebuked her and praised Mary. However, Mary was not the only one to be

Politics and Government Essay Example | Topics and Well Written Essays - 500 words

Politics and Government - Essay Example She can start her campaign from advertising on TVs and Radios. Although the costs may be very high for such campaign, but, since she needs to reach out to a vast audience, this type of campaign is necessary. Another reason why we should advertise on TV and Radios is that not all people can read newspapers because of low-literacy rate and since the governor needs to reach out to everyone, from the most learned to an ordinary man, who cannot read or write. Only mass-media like TV and Radio would help her to meet her target of reaching out to everyone in Alaska. Only advertising on mass media would make sure that everyone gets her message and this would make her campaign more efficient, even though it will be costly. Similarly, when she decided to run for the seat in the Senate, she can advertise her campaign on print media such as Newspapers and Pamphlets. The reason behind this is that in this scenario she would need not to reach out to the every single person of Alaska but only selected few. As a PR officer, we would first assess what kind of people we are targeting and then we can design and advertise the campaign accordingly. Similarly, since we do not need to reach out to everyone, we will not waste our money on mass media.

Sin of Adultery in The Scarlet Letter by Hawthorne :: essays research papers

The greatest sin committed by any character in Nathaniel Hawthorne's The Scarlet Letter was that of Arthur Dimmesdale. Although Hester Prynne and Roger Chillingworth wronged each other, the person that did evil against both of them was Dimmesdale. Not only did Dimmesdale have relations with Hester Prynne though he knew that she was still married, but he never came forward as the companion in her sin. Hester Prynne, whose husband was missing for two years with no proof of him being alive of dead, had an affair with Reverend Dimmesdale. She was charged by the court of Boston, Massachusetts for adultery and was sentenced to wear a red letter "A" on her clothes at all times and to stand on the scaffold for three hours a day. Although she would not speak the man's name who was her accomplice, what Hester did in repentance was that she admitted to her crime and served her punishment. Master Prynne, also known as Roger Chillingworth, was partly responsible for Hester Prynne's relationship with Reverend Dimmesdale because his absence of communication for two years caused her to think that he was dead. Chillingworth was also guilty of tormenting Reverend Dimmesdale after he was convinced that he was the father of Hester's child. Pearl, who has a great sense of observation, claims that Chillingworth is the devil and has taken control over Dimmesdale when she says "Come away, mother! Come away, or yonder old black man will catch you! He hath got hold of the minister already." Arthur Dimmesdale was involved in the adulterous act along with Hester Prynne. One fact that makes this event more criminal for him is that Dimmesdale is a minister. Another reason for Dimmesdale's acts to be more shameful than Hester's is that she confessed and served the punishment for her crime. While Hester was on the scaffold, Dimmesdale expresses that he does not have the courage to admit his sin and sacrifice his good name. However, when Dimmesdale says "who, perchance, hath not the courage to grasp it for himself--the bitter, but wholesome, cup that is now presented to thy lips" he is inviting Hester to confess Dimmesdale's involvement with her to the townspeople with the explanation that it will be a bitter but wholesome relief to the both of them. Although Dimmesdale was tortured by his conscience for his wrongdoings, he did not publicly admit his guilt until seven years later on.

A Farewell to Arms

Throughout the novel, A Farewell to Arms, Ernest Hemingway developed a specific discipline and behavior for a true Hemingway â€Å"code hero†. Although there are many characters in the novel, each one of them possessed a similar or contrasting characteristic of a â€Å"code hero†. While Frederic Henry became a true â€Å"code hero† by the end of the novel, Catherine Barkley was a better example of a â€Å"code hero† throughout the course of the novel. Hemingway's definition of a code hero stated that there were many qualities, some more important than others, needed in order to be classified as a true â€Å"code hero†. The most important characteristics required to be a true Hemingway â€Å"code hero† like Catherine Barkley are bravery, immorality, and discipline. According to the Hemingway hero's philosophy, a truly brave â€Å"code hero† was a stoic person, who accepted the fear of a situation and did not complain about it. â€Å"I'm not a bit afraid. It's just a dirty trick.† This was all that Catherine said shortly before she died. However, Catherine died according to her view of what the brave should do in death as in life. A brave person should simply not mention their fear of the deaths that they have encountered. Death was the end of everything and life was devoted to exposing oneself to all types of physical pleasures, which were the rewards a Hemingway hero would strive for in life. Catherine dismissed the traditional concepts of morality and developed her own system of moral values. Because of her self-created values, she did not marry yet, she was pregnant and did not want the child to be baptized. In a way, Helen Ferguson was the living symbol of the traditional concepts of morality. She disliked Frederic since he and Catherine were not married but continued to pretend as if they were. Helen felt this was wrong and that they should have been married especially since Catherine was pregnant. This controversy with Helen only further illustrated the fact that Catherine was a non-conformist to the traditional moral values of the day. The most important characteristic required of a Hemingway hero† was discipline. Self-discipline was a value, which grows out of one's essential being. When Frederic had to return to the front, Catherine didn't even cry or display any disappointment about his leaving. This was an excellent example of the discipline of refusing to be emotional about an event. If a â€Å"code hero† ever expressed any emotion, they would often be ashamed of having done so. Even though she was involved in the war since she was a nurse, Catherine never spoke of the ravages of war or expressed any feeling toward the war. Talking was considered to be emotionalism, which involved thinking. A Hemingway hero was not a thinker but a person of action. Catherine Barkley exemplified the â€Å"code hero† by possessing a great sense of bravery, her own sense of immorality, and her own sense of discipline. A Hemingway hero must be brave in the face of danger, must push aside the traditional moral values, and must have discipline to block out true emotion. These characteristics were just a few of the many that a Hemingway â€Å"code hero† must possess. While each â€Å"code hero† may have shared similar qualities, when and how each detail was discovered varies greatly from character to character. Unlike Frederic Henry, Catherine possessed all of these qualities from the beginning of the novel, which led Hemingway to create Catherine Barkley as the true Hemingway â€Å"code hero†.

Civil War And The Era Of Slavery - 1384 Words

Throughout the history of America, the â€Å"civilization† of slaves has been a complex issue that is often not looked at nor discussed enough in society. In its general definition, most people would think civilization is the process in which a person or animal is adapted to fit into a society. While this definition is technically correct, this is a simple example of what the word truly means. In the context of slavery, this term means the systematic dehumanization of people who were abused or imprisoned as slaves. It is the utter torture and excruciating pain that these people, who were not even considered humans, faced everyday until death. This was the justification that politicians and slave owners alike used as justification for slavery;†¦show more content†¦This could include the right to vote, freedom of speech, and freedom of the press. To this day what seem to be reasonable protections are constantly challenged by people in government and power. But an exampl e from the past would be Martin Luther King Jr. and his fight for civil rights during the 1960’s. This man spent most of his life up until he was assassinated non-violently protesting for the equal rights for all Americans. In his â€Å"Letter From Birmingham Jail†, Dr. King explains how the lack of economic and educational resources are killing his communities: â€Å"One is a force of complacency, made up in part of Negroes who, as a result of long years of oppression, are so drained of self-respect and a sense of somebodiness that they have adjusted to segregation; and in part of a few middle class Negroes who, because of a degree of academic and economic security and because in some ways they profit by segregation, have become insensitive to the problems of the masses† (King Jr). Dr. King was explaining that if basic legal rights such as voting, education, and economic security were not safeguarded, the government was failing to do its job. He also mentione d that â€Å"long years of oppression†, which includes slavery, has been a major blow to the humanity of African Americans. His words still affect us today due to discrimination in the criminal justice system and well as economic inequalityShow MoreRelatedThe American Civil War1418 Words   |  6 PagesGuns fired, smoke lingering in the air, people dying. The American Civil War had a huge impact on the United States. Two compromises took place before the start of the Civil War. These compromises include the Missouri Compromise and the Compromise of 1850. The Missouri Compromise dealt with the crisis in 1819 over Missouri entering the Union as a slave state. The compromise was â€Å"the first major crisis over slavery, and it shattered a tacit agreement between the two regions that had been in placeRead MoreComparative Analysis of Research Articles on Slavery1451 Words   |  6 PagesEmancipation of Slavery Many historians have debated over the significance of the Emancipation Proclamation, in addition to arguing over who should receive the credit for the freeing of slaves in the Civil War era. Two historians, James M. McPherson and Ira Berlin, respectfully express their contrasting views over these topics in this assignment. While I absolutely agree that the slaves in the Civil War era played a pivotal role in emancipating themselves and securing their civil liberties, it wasRead MoreWhy Do We Study History?1278 Words   |  6 PagesPLEASE ANSWER THE FOLLOWING TEKS BELOW Rovic Chase Max WHY DO WE STUDY HISTORY? -Identify the major eras in Texas History, describe their defining characteristics, and explaining why historians divide the past into eras; Texas and Civil War and Reconstruction WHY DO WE STUDY HISTORY REASONS WHY WE STUDY HISTORY To some people, studying history is important because it helps them know everything around the world. It also helps us develop judgement in worldly affairs by understanding the past behaviorRead MoreThe Revolutionary Era During The 1760 S1651 Words   |  7 Pages1760’s, slavery was a normal and well-structured part of American society despite the tremendous amount of problems with the institution. 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Such difference led to the main distinction which existed throughout the entire Civil War, the dependenceRead MoreEffects of Slavery on America1594 Words   |  7 PagesEffects of Slavery on American History Andrew Avila US History 1301 Dr. Raley April 18, 2013 The U.S. Constitution is primarily based on compromise between larger and smaller states, and more importantly, between northern and southern states. One major issue of the northern and southern states throughout American history is the topic of slavery. Although agreements such as the Three-Fifths Compromise in 1787, and the Thirteenth Amendment in 1865 were adapted to reduce and outlawRead MoreTime Line 21050 Words   |  5 Pageslisted. Be sure to cite all sources. Major Event/Epoch in American History | Time Period/Date(s) | Description and Significance of the People/Event(s) to American History | 1) The evolution of the institution of slavery from the Colonial Period to the 1860s. | 1860-1865 | Slavery was necessary to southern colonists after the introduction of the cotton gin. The cotton gin was a way to make cotton worth a lot but the machine required a lot of manual labor which brought along the plantation system

Hepatitis B And Its Effects - 2108 Words

Hepatitis B is a genuine liver disease created by the hepatitis B virus (HBV). For some individuals, hepatitis B contamination gets to be incessant, which means it keeps going over six months. Having unending hepatitis B builds your danger of creating liver disappointment, liver disease or cirrhosis which is a condition that causes lasting scarring of the liver. A great number of people contaminated with hepatitis B as grown-ups recuperate completely, regardless of the possibility that their signs and side effects are extreme. Babies and youngsters will probably build up a ceaseless hepatitis B contamination (MayoClinic). Hepatitis C contamination additionally expands the danger of creating liver disease just like hepatitis B. Until the 1980 s, hepatitis C virus (HCV) was known as non-A non-B hepatitis. The underlying disease may have side effects, yet a critical number of individuals don t have side effects. Not at all like hepatitis B, in which the ailment does not frequently get to be constant, have around 80% of individuals with hepatitis C built up an endless disease. As the invulnerable framework keeps on assaulting the infection after some time, fibrosis grows, in the end prompting cirrhosis. This unending aggravation can likewise prompt liver growth. This infection is spread through tainted blood, for example, with transfusions and IV drug misuse, however numerous individuals don t have evident danger components for the sickness. It is currently suggested thatShow MoreRelatedTaking a Look at Hepatitis B and C734 Words   |  3 PagesHepatitis B, C Hepatitis B virus (HBV) belongs to the Hepadnarvirus family. The virus particle consists a lipid envelope that contains surface antigens, HBsAg, a core composed of protein, viral DNA, and polymerase. Theses virions are approximately 40 nm in diameter, which are known as one of the smallest enveloped animal viruses. It infects hepatocytes, also known as Dana particles. The genome of HBV is circular, partly double stranded, and approximately 3,200 nucleotides long. Dr. Baruch BlumberdRead MoreDisease Surveillance And Health Statistics986 Words   |  4 PagesStatistics/ Fall 2015 Project 1/ Infectious Disease/Hepatitis B Salwa Rashid Hepatitis B is an infection caused by hepatitis B virus. It affects the liver and can lead to acute or chronic hepatitis B, carrier, or liver cancer. It is transmitted through body fluids such as blood and semen. Transmission is usually by sexual contact, sharing needles, injecting drugs, cutting injuries. About 2 billion around the world have been infected with hepatitis B virus and 250 million have chronic infectionRead MoreAn Informative Project About Hepatitis B Virus1064 Words   |  5 PagesThis Paper was written as an informative project about the Hepatitis B virus. The paper was written in a way that clearly discusses the specific causes, symptoms, treatments and prevention associated with the virus. The paper goes into details on ways to avoid contraction of this virus as well. The most common liver infection is Hepatitis B, which is a potentially life threatening infection that is caused by the Hepatitis B Virus. â€Å"Hepatitis B is a DNA virus belonging to the hepadnaviridae family ofRead MoreMechanism Of Infectious Disease Control1607 Words   |  7 Pagesmost developed countries mortality rates caused by infectious disease, have greatly decreased over the past century this is due in part to better treatment and early detection of new diseases. In developing countries diseases are a major problem that effect both economy and the general health of the countries. The major way of prevent is early detecting to stop outbreaks before they spread.(2) Infections disease are caused by pathogenic such as bacteria, viruses, and parasites, all of which can be spreadRead MoreHepatitis B951 Words   |  4 PagesPage 2 Hepatitis B is a potentially life threatening liver infection caused by the virus HBV. A Hepatitis B infection could potentially become a chronic disease for some people because they run the risk of developing liver failure, cirrhosis of the liver or liver cancer if precautions are not taken. Cirrhosis causes permanent scarring to the liver. Some adults that have become infected with Hepatitis B do fully recover even if their symptoms are relentless. Symptoms can be mild toRead MoreThe Importance Of Sexually Transmitted Diseases1430 Words   |  6 Pagespresented is hepatitis. The three most common types of hepatitis, A, B, and C, are caused by viruses. Hepatitis means the liver of the body is inflamed. The inflammation or swelling can be caused by germs, some kinds of medications or diseases, heavy alcohol use and viruses. All three of these types of hepatitis can all be acute (sudden onset, sharp severity, short duration) but hepatitis B and C can turn into chronic hea lth conditions causing long term health problems. Hepatitis A spreads throughRead MoreHepatitis C And Its Effects On The Human Body1501 Words   |  7 PagesHepatitis is a complicated illness that affects many people throughout the world. Since its discovery, we have come to identify that hepatitis comes in various forms. Most people have a deeper awareness of the Hepatitis A or B disease because we have been educated throughout the years of its effects on the human body. There is another hepatitis virus called Hepatitis C which is a relatively new disease that many people are unfamiliar with. This disease is highly infectious if the proper precautionsRead MoreHepatitis C : An Infectious Disease1619 Words   |  7 PagesHepatitis C is an infectious liver disease caused by the hepatitis C virus, or HCV. The virus is transmitted through bodily fluids and it has been estimated by the U.S. Food and Drug Administration that between 170 and 200 million people are infected worldwide, a nd 3 to 5 million people are infected in the U.S., the epidemic is far more widespread in Africa and central Asia. The disease kills approximately 350,000 people a year worldwide and 15,000 people a year in the U.S. The disease can be asymptomaticRead MoreEpidemiology Hepatitis B1639 Words   |  7 PagesEpidemiology of Hepatitis B Hepatitis B is a disease that affects many people worldwide and can cause serious and potentially fatal complications. This paper will provide an overview of this disease, including demographic information, while discussing contributing determinants of health, the implications of the epidemiological triangle as it relates to the Hepatitis B Virus (HBV), the role of the community health nurse, as well as identify a national organization that addresses the disease and howRead MoreHepatitis C And C. C1319 Words   |  6 PagesWhen a doctor uses the term Hepatitis C or HCV, what comes to mind? Many people have little to no knowledge of what it is. Is it deadly? Is there a cure? Is it a virus or disease? There are many questions that enter the mind because there are many concerns associated with an unknown illness. Several people wonder if the virus is similar to hepatitis A or B because there has been education throughout the years that provides more awareness surrounding the two known viruses, but it is discovered there

Analysis Of The Poem This Lunar Beauty Essay - 1774 Words

W.H. Auden’s â€Å"This Lunar Beauty† can be read as a poem as an enigmatic love that baffles the speaker, as he attempts to understand the complexity of the lunar beauty. However, Auden lived during the early 1900s and identified himself as a gay man, though he was married, briefly, to a woman. Understanding Auden’s biographical lifestyle can lead one to read â€Å"This Lunar Beauty† under a queer lens. Although the queerness of the poem is not directly stated; the structure and language of the poem lead â€Å"This Lunar Beauty† to be interpreted as a gay relationship that is hidden during the day and is able to come forth during the night when both the speaker and the lunar beauty are able to be their true selves. When reading Auden’s â€Å"This Lunar Beauty† under a queer lens, it is imperative to note how Auden plays with the passage of time and in turn, how the difference between day and night lead the poem to undergo a queer inte rpretation. The â€Å"beauty† that the speaker finds himself captivated by is surrounded by darkness. Particularly, the speaker personifies this love as â€Å"lunar,† as in, it is not found during the day light hours. By characterizing the love as lunar, not only does it relay to the audience that this love the speaker has found is strictly found during the darkness, but also that this love is cyclic in nature, similar to the moon’s cycles. The image of the moon is striking and leads to an interpretation of the poem that can be seen as a queer poem. The lunar beauty isShow MoreRelatedKubla Khan and Its Relation to Romanticism2675 Words   |  11 Pageshave been planning a two hundred to three hundred line poem before he got interrupted by a man from Porlock, after which he had forgotten nearly all of his dream. This may have been merely an excuse, and the poem was scorned at the time for having no poetic value, one critic even going so far as to call it more a musical composition than a poem. This is partly true, as the language seems to strive for an aural beauty more than a literary beauty, although it accomplishes both. Like many great artistsRead MoreA Picatrix Miscellany52019 Words   |  209 PagesSage) of al-Majriti, Maslamati ibn Ahmad II. Summary of the Contents of the Picatrix III. Excerpt from a Lecture on Alchemy by Terence McKenna On the Moon and the Lunar Mansions IV. Extracts on the Moon V. The Mansions of the Moon: â€Å"On the Creation, Proportion and Composition of the Heavens for the Fashioning of Images† VI. The Picatrix: Lunar Mansions in Western Astrology VII. W. B. Yeats and â€Å"A Vision:† The Arab Mansions of the Moon On Ritual and Talismans Picatrix Astrological Magic Aphorisms ExtractsRead MoreLogical Reasoning189930 Words   |  760 Pagesupdated: April 26, 2016 Logical Reasoning Bradley H. Dowden Philosophy Department California State University Sacramento Sacramento, CA 95819 USA ii iii Preface Copyright  © 2011-14 by Bradley H. Dowden This book Logical Reasoning by Bradley H. Dowden is licensed under a Creative Commons AttributionNonCommercial-NoDerivs 3.0 Unported License. That is, you are free to share, copy, distribute, store, and transmit all or any part of the work under the following conditions:

International Finance Study Notes Free Essays

1) Market seeker design strategy focuses on current market, and current consumer’s needs for quick return on investment. For example US automobile firms manufacturing in Europe for local consumption are an example of market-seeking motivation. 2) Raw Material seekers extract unfinished goods used in the manufacture of a product. We will write a custom essay sample on International Finance: Study Notes or any similar topic only for you Order Now For example, a steelmaker uses iron ore and other metals in producing steel. A publishing company uses paper and ink to create books, newspapers, and magazines. Raw materials are carried on a company’s balance sheet as inventory in the current assets section. 3) Political safety seekers acquire or establish new operations in countries that are considered unlikely to expropriate or interfere with private enterprise. For example, Hong Kong firms unvested heavily in the United States, United Kingdom, Canada, and Australia in anticipation of the consequences of China’s 1997 takeover of the British colony. ) Production Efficiency seekers produce in countries where one or more of the factors of production are underpriced relative to their productivity. Labour-intensive production of electronic components in Taiwan, Malaysia, and Mexico is an example of this motivation. 5) Knowledge seekers operate in foreign countries to gain access to technology or managerial expertise. An example, German, Dutch, and Japanese firms have purchased US located electronics firms for their technology. Source: Investopedia Question 2: Political risk is a type of risk faced by investors, corporations, and governments. It is a risk that can be understood and managed with reasoned foresight and investment. Broadly, political risk refers to the complications businesses and governments may face as a result of what are commonly referred to as political decisions—or â€Å"any political change that alters the expected outcome and value of a given economic action by changing the probability of achieving business objectives. †. Political risk faced by firms can be defined as â€Å"the risk of a strategic, financial, or personnel loss for a firm because of such nonmarket factors as macroeconomic and social policies (fiscal, monetary, trade, investment, industrial, income, labour, and developmental), or events related to political instability (terrorism, riots, coups, civil war, and insurrection). †Portfolio investors may face similar financial losses. Moreover, governments may face complications in their ability to execute diplomatic, military or other initiatives as a result of political risk. A low level of political risk in a given country does not necessarily correspond to a high degree of political freedom. Indeed, some of the more stable states are also the most authoritarian. Long-term assessments of political risk must account for the danger that a politically oppressive environment is only stable as long as top-down control is maintained and citizens prevented from a free exchange of ideas and goods with the outside world. Understanding risk as part probability and part impact provides insight into political risk. For a business, the implication for political risk is that there is a measure of likelihood that political events may complicate its pursuit of earnings through direct impacts (such as taxes or fees) or indirect impacts (such as opportunity cost forgone). As a result, political risk is similar to an expected value such that the likelihood of a political event occurring may reduce the desirability of that investment by reducing its anticipated returns. There are both macro- and micro-level political risks. Macro-level political risks have similar impacts across all foreign actors in a given location. While these are included in country risk analysis, it would be incorrect to equate macro-level political risk analysis with country risk as country risk only looks at national-level risks and also includes financial and economic risks. Micro-level risks focus on sector, firm, or project specific risk. Political risks are classified as follows: 1) Blocked Fund – Term for â€Å"reserving† funds by one bank for the benefit of another bank. Blocking of funds is an often used banking procedure to ensure that the same funds are not used twice. Often more beneficial to an investor than a bank guarantee. ) Ownership – Is the state or fact of exclusive rights and control over property, which may be an object, land/real estate or intellectual property. Ownership involves multiple rights, collectively referred to as title, which may be separated and held by different parties 3) Religion Heritage – Is the faith in which a person was predominantly raised or the faith a person’s parents or previous generations have traditionally held. 4)Terrorism – Is the systematic use of terror especially as a means of coercion. No universally agreed, legally binding, criminal law definition of terrorism currently exists. Common definitions of terrorism refer only to those violent acts which are intended to create fear (terror), are perpetrated for a religious, political or ideological goal, deliberately target or disregard the safety of non-combatants (civilians), and are committed by non-government agencies. Some definitions also include acts of unlawful violence and war. The use of similar tactics by criminal organizations for protection rackets or to enforce a code of silence is usually not labeled terrorism though these same actions may be labeled terrorism when done by a politically motivated group. The word â€Å"terrorism† is politically and emotionally charged, and this greatly compounds the difficulty of providing a precise definition. Studies have found over 100 definitions of â€Å"terrorism†. The concept of terrorism may itself be controversial as it is often used by state authorities to delegitimize political or other opponents, and potentially legitimize the state’s own use of armed force against opponents (such use of force may itself be described as â€Å"terror† by opponents of the state). Terrorism has been practiced by a broad array of political organizations for furthering their objectives. It has been practiced by both right-wing and left-wing political parties, nationalistic groups, religious groups, revolutionaries, and ruling governments. An abiding characteristic is the indiscriminate use of violence against noncombatants for the purpose of gaining publicity for a group, cause, or individual. 5)Protectionism is the economic policy of restraining trade between states through methods such as tariffs on imported goods, restrictive quotas, and a variety of other government regulations designed to discourage imports and prevent foreign take-over of domestic markets and companies. This policy contrasts with free trade, where government barriers to trade and movement of capital are kept to a minimum. In recent years, it has become closely aligned with anti-globalization. The term is mostly used in the context of economics, where protectionism refers to policies or doctrines which protect businesses and workers within a country by restricting or regulating trade with foreign nations. Source: Wikipedia Question 3: Hedging means reducing or controlling risk. This is done by taking a position in the futures market that is opposite to the one in the physical market with the objective of reducing or limiting risks associated with price changes. Hedging is a two-step process. A gain or loss in the cash position due to changes in price levels will be countered by changes in the value of a futures position. For instance, a wheat farmer can sell wheat futures to protect the value of his crop prior to harvest. If there is a fall in price, the loss in the cash market position will be countered by a gain in futures position. Hedging is a mechanism to reduce the risk of adverse price movements of an asset. It’s an investment undertaken to reduce the risk of adverse movements of the underlying assets. We all agree with the fact that in investment risks and returns are the two sides of a coin. The underlying asset can be a security, currency, debt instruments or a commodity like crude oil. A Perfect Hedge is an offsetting investment which completely eliminates the risk of the price movements. However, this is practically not possible, as all investments do carry a risk. Reason for hedging Participating in hedging has reasons that are connected with price risk. Typically, traders take part in hedging so they can more effectively plan on set pricing (often employing the hedge ratio). Considering of course, gold or silver futures for instance as a hedge against inflation and falling currencies. Farmers, growers and producers alike near the source hedge to get a lock on pricing at some appointed time. Often they buy futures basically in order to protect against price drops. Producers, manufacturers and large consumers are commonly in the practice of hedging but rather to get a better handle on their cash flow or finished product/service costs. Surely in commodities that are known to be volatile in nature, where prices need a stabilization factor. Example : Where precious metals are used as raw materials. Trucking companies, the airlines and transportation companies all hedge to lock in lower prices. Electricity generation, in its used of natural gas also provides ample reason for hedging. Larger food companies needing the ingredients of grains and wheat flour for breads, cereals and baked goods (not to mention coffee and cocoa) and hedge for price protection. When successful it becomes an integral part of delivering their product to consumers. Some companies even hedge so that consumers may not be so hard pressed in the event of price climbs, perhaps seen as unreasonable by consumers. Reason against hedging The management of financial risk is difficult and conceptually demanding. Probably the most difficult issue is the actual recognition of where and how much financial risk is being incurred. Example: An Australian metal producer who borrows in USA as a partial hedge because their product is priced in USD in world markets. The problem with this â€Å"hedge† is that it actually would increase risk. The AUD is a commodity currency and when metal prices fall the AUD will generally be weaker. This means that our metal exporter finds that their USD loan is costing those more in AUD terms at the same time as revenue is collapsing. The reason for the problem is that the company failed to recognize the correlation between metal prices and the AUD exchange rate. Source: wikipedia Question 4: A balance of payments (BOP) sheet is an accounting record of all monetary transactions between a country and the rest of the world. These transactions include payments for the country’s exports and imports of goods, services, and financial capital, as well as financial transfers. The BOP summarizes international transactions for a specific period, usually a year, and is prepared in a single currency, typically the domestic currency for the country concerned. Sources of funds for a nation, such as exports or the receipts of loans and investments, are recorded as positive or surplus tems. Uses of funds, such as for imports or to invest in foreign countries, are recorded as a negative or deficit item. When all components of the BOP sheet are included it must balance – that is, it must sum to zero – there can be no overall surplus or deficit. For example, if a country is importing more than it exports, its trade balance will be in deficit, but the shortfall will have to be counter balanced in other ways – such as by funds earned from its foreign investments, by running down reserves or by receiving loans from other countries. While the overall BOP sheet will always balance when all types of payments are included, imbalances are possible on individual elements of the BOP, such as the current account. This can result in surplus countries accumulating hoards of wealth, while deficit nations become increasingly indebted. Historically there have been different approaches to the question of how to correct imbalances and debate on whether they are something governments should be concerned about. Since 1974, the two principal divisions on the BOP have been the current account and the capital account. The current account shows the net amount a country is earning if it is in surplus, or spending if it is in deficit. It is the sum of the balance of trade (net earnings on exports – payments for imports) , factor income (earnings on foreign investments – payments made to foreign investors) and cash transfers. Its called the current account as it covers transactions in the â€Å"here and now† – those that don’t give rise to future claims. The capital account records the net change in ownership of foreign assets. It includes the reserve account (the international operations of a nation’s central bank), along with loans and investments between the country and the rest of world (but not the future regular repayments / dividends that the loans and investments yield, those are earnings and will be recorded in the current account). Expressed with the standard meaning for the capital account, the BOP identity is: [pic] The balancing item is simply an amount that accounts for any statistical errors and assures that the current and capital accounts sum to zero. At high level, by the principles of double entry accounting, an entry in the current account gives rise to an entry in the capital account, and in aggregate the two accounts should balance. A balance isn’t always reflected in reported figures, which might, for example, report a surplus for both accounts, but when this happens it always means something has been missed—most commonly, the operations of the country’s central bank. An actual balance sheet will typically have numerous sub headings under the principal divisions. For example, entries under Current account might include: †¢ Trade – buying and selling of goods and services Exports – a credit entry o Imports – a debit entry ? Trade balance – the sum of Exports and Imports †¢ Factor income – repayments and dividends from loans and investments o Factor earnings – a credit entry o Factor payments – a debit entry ? Factor income balance – the sum of earnings and payments. Especially in older balance sheets, a common division was between visible and invisible entries. Visible trade recorded imports and exports of physical goods (entries for trade in physical goods excluding services is now often called the merchandise balance). Invisible trade would record international buying and selling of services, and sometimes would be grouped with transfer and factor income as invisible earnings. In the case of any particular country, a balance reflecting the ratio of monetary receipts from foreign countries to total payments to foreign countries, as computed for a year, quarter, or other period of time. A favorable balance of payments results when receipts exceed payments, whereas an unfavorable balance of payments, or deficit, results when the reverse is true. The balance of payments reflects the diverse economic relations that exist between countries and lead to various international payments; these relations include foreign trade and the export of capital. The balance of payments also reflects international relations in the political, scientific, technological, and cultural spheres; this is seen, for example, in expenditures that arise from the maintenance of representations in foreign countries, from trips by official delegations and tourists, from the acquisition of patents and licenses, and from private transfers. In developed capitalist countries, the chief principals in international economic relations are private companies, including those engaged in commerce, industry, banking, insurance, and transport. The balance of payments forms as the spontaneous result of many isolated transactions an operation, for which no accurate account can be maintained. The balance of payments tables compiled in bourgeois states therefore represent only an approximate evaluation of receipts and payments. The item in the balance of payments tables that is called errors and omissions provides particular evidence of this fact. The balance of payments encompasses only the payments actually made during a given period. By contrast, the balance of international indebtedness, or balance of claims and liabilities, is the ratio of the foreign claims of a given country to the foreign liabilities of that country. The balance of payments in capitalist and developing nations includes scores of diverse items, which usually are grouped in the following categories, as recommended by the International Monetary Fund: foreign trade (exports and imports of commodities), services (including transport, tourism, insurance, government expenditures, banking services, and income from investments), unilateral transfers, the movement of long-term capital, the movement of short-term capital, change in the gold and currency reserves, and errors and omissions. The first three categories constitute the current account balance of payments, the next two are the balance of capital movements, and the last two are the balancing items. Analysis of the balance of payments is very important in describing a country’s place in the system of international economic relations, especially with respect to world trade. When receipts from the export of commodities consistently exceed import payments, this generally points to a country’s strength in world markets; this was the case with Japan and the Federal Republic of Germany in the late 1960’s and early 1970’s. On the other hand, import payments that exceed export earnings are an indication of economic difficulties related to the deficit of the balance of payments; this was the position of the USA in these same years. An important item in the current account balance of payments concerns the receipts and payments for foreign investments. This item reflects profit received from abroad and paid abroad, in the form of dividends, interest, and so forth. The profit represents a source of enormous income for capital-exporting imperialist states with large capital investments abroad, either in the form of direct investments or in the form of loans and credits. In 1971, for example, the income of Great Britain from foreign investments was ? 667 million, more than double the positive trade balance. The profit from foreign capital investments repatriated to the United States amounted to $10. 7 billion in 1971 and was the second most important item of receipts in the nation’s balance of payments, after the income from export commodities. This attests to the role of the United States as the center of financial exploitation in the capitalist world. The overwhelming majority of developing countries are importers of capital, and payments on foreign investments are one of the chief reasons for the overall balances of payments deficits. The payments on foreign investments absorb an ever greater portion of the export earnings of the developing countries. Foreign military expenditures are also included in the current account balance of payments. These expenditures are due to imperialist states’ policy of aggression and the maintenance of numerous military bases abroad. This is one of the most important reasons for the deficit in the balance of payments and the ensuing monetary crises. The enormous rise in state military and political expenditures abroad underlies the chronic deficit in the US balance of payments. Expenditures from the early 1960’s through the early 1970’s totaled more than $100 billion, some 40 percent more than the surplus for all other items in the USA’s balance of payments. Capital movement as reflected in the balance of payments is primarily in the form of the movement of long-term capital. Long-term capital movement includes direct investments, which provide for full ownership of enterprises or control of their operations; portfolio investments, made in the form of investments in overseas securities; and loans, credits, and subsidies. The export of capital—the outflow of capital from a given country—is reflected as an expenditure in the balance of payments; the import of capital, on the other hand, represents an influx of funds and is included as income. The export of capital, for example, to the developing countries, causes a flow of profit from the countries where the foreign capital has been placed; this ultimately has a negative effect on the balance of payments of the countries receiving foreign capital. At the same time, increased export of capital sometimes directly worsens the balance of payments of the imperialist states. The export of capital and military expenditures are precisely the reasons for the balance of payments deficit in the USA. The movement of short-term capital is related to the way money on deposit in foreign banks is constantly transferred between countries. These transfers are to a significant degree related to speculation with respect to change in exchange rates or interest on deposits. The indicator of a surplus or deficit of the balance of payments is important in describing the economic situation of a country. In capitalist nations, several methods are used for determining this balance; in the USA, for example, three methods are employed. The balancing indicator is most often the balance of the current transactions and the balance of the change in the gold and currency reserves. Various methods are used to regulate the balance of payments. One basic method involves the export of gold when there is a deficit balance and the import of gold when there is a surplus balance. The chronic balance of payments deficit in the USA in the 1960’s and early 1970’s led to a significant outflow of gold and a reduction in US gold reserves. The balance of payments deficit may also be covered by increasing short-term or long-term debts to creditor nations, which accumulate the corresponding obligations of their debtors. Because the gold reserves of the capitalist and developing countries are limited, foreign credits and loans are becoming the basic means of covering the balance of payments deficit; this is especially true in the case of developing countries. To improve the balance of payments situation, capitalist states frequently resort to a currency devaluation, which helps increase export receipts from tourism, the import of foreign capital, and so forth. The balance of payments situation of a capitalist country is a basic factor in determining the state of that country’s currency. For example, the crisis of the US dollar basically resulted from a sharp deterioration in the US balance of payments, which had a deficit of almost $10 billion in 1972. The US government was forced to devalue the dollar in 1971 and 1973 because of the drop in gold and currency reserves and the increase in foreign debts, both of which were caused by the chronic balance of payments deficit. In socialist countries, foreign economic relations are based on the state monopoly of foreign trade and the foreign-exchange monopoly. The balance of payments is planned as a component part of a general plan embracing the national economy, foreign trade, and currency. Payments of the member countries of the Council for Mutual Economic Assistance (COMECON) are mutually balanced through long-term planning of trade and payments between the countries; payments in transfer rubles are used. Because of the foreign-exchange monopoly, the balance of payments does not influence the situation of the monetary units of the socialist countries. In relations with the capitalist states, the Soviet Union and other socialist countries avoid balance of payments deficits through the planned use of foreign-exchange and gold resources and anticipated foreign-exchange receipts. Source: Finance Asia Question 5: Annualized  Ã‚  Ã‚   =  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Forward Price – Spot Price  Ã‚  x  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  12  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  x  100% Forward Premium  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚   Spot Price  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  # of months   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   forward Direct Quotation represents the value of a foreign currency in dollars (number of dollars per currency). In this case, the Japanese Yen is taken as the local currency and USD is taken as the foreign currency. Direct = ((120 -140) / 140)*(12 / 6)*100 = – 28. 5714% forward discount Indirect = 1 / Direct = 1/-28. 5714% = 3. 5% forward discount Question 6: A  type of diagram  where the curve falls at the outset and eventually rises to a point higher than the starting point, suggesting the letter J. While a J-curve can apply to data  in a variety of fields, such as medicine and political science, the J-curve effect is most  notable in both economics and private equity funds; after a certain policy or investment is made, an initial loss is followed by a significant gain. An example  of the  J-curve effect  is seen in economics  when a country’s trade balance initially  worsens following a devaluation or depreciation of its currency. The higher exchange rate will at first correspond to more costly imports and less valuable exports, leading to a bigger initial deficit or a maller surplus. Due to the competitive, relatively low-priced exports, however, a country’s exports will start to increase. Local consumers will also purchase less of the more expensive imports and focus on local goods. The trade balance eventually improves to better levels  compared to before devaluation. In private equity funds, the J-curve effect occurs when  funds experience ne gative returns for the first several years. This is a common experience, as the early years of the fund include capital drawdown and an investment portfolio that has yet to mature. If the fund is well managed, it will eventually recover from its initial losses and the returns will form a J-curve: losses in the beginning dip down below the initial value, and later returns show profits above the initial level. The theory of the J-curve is an explanation for the J-like pattern of change in a country’s trade balance in response to a sudden or substantial depreciation (or devaluation) of the currency. Consider the adjoining diagram depicting two variables measured, hypothetically, over some period of time; the dollar/foreign exchange rate, E$/*, and the US current account balance, CA = EX – IM. The exchange rate is meant to represent the average value of the dollar against all other trading country currencies and would correspond to a dollar value index which is often constructed and reported. Since the units of these two data series would be in very different scales, we imagine the exchange rate is measured along the left axis, while the CA balance is measured in different units on the right-hand axis. With appropriately chosen scales we can line up the two series next to each other to see whether changes in the exchange rate seem to correlate with positive or negative changes in the CA balance. Source: Investopedia Question 7: Tax is to impose a financial charge or other levy upon a taxpayer (an individual or legal entity) by a state or the functional equivalent of a state such that failure to pay is punishable by law. Taxes are also imposed by many subnational entities. Taxes consist of direct tax or indirect tax, and may be paid in money or as its labor equivalent (often but not always unpaid labour). A tax may be defined as a â€Å"pecuniary burden laid upon individuals or property owners to support the government, a payment exacted y legislative authority. † A tax â€Å"is not a voluntary payment or donation, but an enforced contribution, exacted pursuant to legislative authority† and is â€Å"any contribution imposed by government whether under the name of toll, tribute, tallage, gabel, impost, duty, custom, excise, subsidy, aid, supply, or other name. † The legal definition and the economic definition of taxes differ in that economists do not cons ider many transfers to governments to be taxes. For example, some transfers to the public sector are comparable to prices. Examples include tuition at public universities and fees for utilities provided by local governments. Governments also obtain resources by creating money (e. g. , printing bills and minting coins), through voluntary gifts (e. g. , contributions to public universities and museums), by imposing penalties (e. g. , traffic fines), by borrowing, and by confiscating wealth. From the view of economists, a tax is a non-penal, yet compulsory transfer of resources from the private to the public sector levied on a basis of predetermined criteria and without reference to specific benefit received. In modern taxation systems, taxes are levied in money; but, in-kind and corvee taxation is characteristic of traditional or pre-capitalist states and their functional equivalents. The method of taxation and the government expenditure of taxes raised is often highly debated in politics and economics. Tax collection is performed by a government agency such as Canada Revenue Agency, the Internal Revenue Service (IRS) in the United States, or Her Majesty’s Revenue and Customs (HMRC) in the UK. When taxes are not fully paid, civil penalties (such as fines or forfeiture) or criminal penalties (such as incarceration) may be imposed on the non-paying entity or individual. Taxes are sometimes referred to as â€Å"direct taxes† or â€Å"indirect taxes†. The meaning of these terms can vary in different contexts, which can sometimes lead to confusion. An economic definition, by Atkinson, states that â€Å"†¦ direct taxes may be adjusted to the individual characteristics of the taxpayer, whereas indirect taxes are levied on transactions irrespective of the circumstances of buyer or seller. According to this definition, for example, income tax is â€Å"direct†, and sales tax is â€Å"indirect†. In law, the terms may have different meanings. In U. S. constitutional law, for instance, direct taxes refer to poll taxes and property taxes, which are based on simple existence or ownership. Indirect taxes are imposed on events, rights, privileges, and acti vities. Thus, a tax on the sale of property would be considered an indirect tax, whereas the tax on simply owning the property itself would be a direct tax. The distinction between direct and indirect taxation can be subtle but can be important under the law. The Advantages of Direct and Indirect Taxes Governments collect taxes by direct and indirect means. An example of a direct tax is payroll tax, where tax is deducted by an employer from an employee’s income, and paid directly to a collection agency, such as the Internal Revenue Service in the United States. An indirect tax is a tax which is not paid directly to the collection agency by the person paying the tax, but goes an intermediary, who then passes the tax to the collection agency. Sales taxes are examples of indirect taxes. Progressive Advantage of Direct Taxes One advantage of direct taxation is that it is easy to apply in a progressive manner. Progressive taxes are a fair way of generating revenue, because multiple rates of taxation can be applied, based on the ability of the tax payer to pay the tax, especially if tax rates increase marginally. For example, a government may apply income tax to earnings at a rate of 10 percent, for all income earned up to $20,000. Then it applies a rate of 15 percent to income over $20,000. A person earning more than $20,000 will pay tax at a rate of 10 percent on the first $20,000 earned, and only pays 15 percent on earnings over that amount. Progressive, marginal, direct taxation is therefore fair because higher earners bear a greater part of the tax burden, based on their ability to pay higher rates of tax. Transparency of Direct Taxation Direct taxes, which go directly by the person bearing the burden of the tax, are transparent taxes. For example, when an employer deducts taxes from the wages of an employee, the employee can see the amount of tax deducted, as it is included on his or her wage statement, or pay-slip. Self-employed tax payers can also see the amount of tax they need to pay to the government, hen they complete their tax returns. In a democracy, tax transparency means that governments have to justify taxes they impose to their voters, and tax-paying voters always aware of the tax burdens imposed on them by politicians. Environmental Benefits of Indirect Taxation Governments use Indirect taxes, such as taxes added to the price of goods and services, to modify the behaviour of individuals in order to help a chieve environmental goals. For example, the true price of gasoline, at point of delivery to the public is low. The price does not encourage people to reduce their use of gasoline by using public transport, or buying more fuel-efficient vehicles. If a government wishes to reduce the use of gasoline as part of an environmental protection goal, it can artificially inflate the price of gasoline to the consumer, by imposing a sales tax to increase the price. When a government imposes a high enough tax on gasoline, it results in a reduction of demand for gasoline, and thus aids the government in implementing its environmental policy. Source: Wikinvest Question 8: The Bretton Woods system was established in 1944 as the major capitalist powers initiated a program of national regulation aimed at containing the contradictions of the world economy and preventing the development of socialist revolution. Its demise in 1971 inaugurated a new stage, characterised by the development of globalised production and the domination of an international financial market. When the US pulled the rug from under the previous system it did so in order to maintain its position of global hegemony in the new economic order which was beginning to emerge. It managed to do so but at great cost. The free market program it has so strenuously promoted over the past 30 years has intensified all the contradictions of the capitalist mode of production. At the same time, starting with the unilateral decision of August 15, 1971, the basis for collaboration between the major capitalist powers has been narrowing. The combined impact of these two processes has created the conditions for major economic, social and political upheavals in the world capitalist economy in the period immediately ahead. Source: Wordiq Question 9: There are many factors that influence the exchange rate of US dollar. Generally speaking, there are mainly four reasons: first, the health condition and the rate of return for investment of the US economy, secondly, the balance of international payment in the US, thirdly, the level of interest rates in the US compared with those in other countries, and fourthly, the rate of inflation. The following might be the reason why it’s expected to continue tight throught to the basement floor: †¢ Massive budget and trade deficits. †¢ Ultra-low interest rates. (Zero on the short end. ) †¢ $59 trillion in unfunded liabilities for Social Security, Medicare and Medicaid. Bernanke conjuring extra trillions out of thin air to buy Treasuries and mortgage-back securities and patch various holes in the U. S. economy. There is no reason to believe any of these problems will vanish in the months ahead. Yet the dollar will soar in 2010. Here’s why†¦ Two Reasons for a Dollar Rebound There are two main forces that could drive the dollar high er: †¢ All the problems mentioned above are already well recognized and priced into the greenback. †¢ Dollar psychology is overwhelmingly bearish. Just as 10 years ago, investors couldn’t imagine Internet stocks doing anything but soaring higher. Five years ago, they couldn’t imagine real estate doing anything but barrelling down the same one-way street. Record lows for the dollar are coinciding with enormous confidence that the dollar has nowhere to go but down. When extreme valuations are accompanied by unbridled optimism or abject pessimism, it virtually always marks a turning point – and an opportunity. This is no exception. Commentators seem to forget that all currency values are contingent. You can’t just look at fundamentals in the United States. You have to look at them abroad, too. And there isn’t uch out there right now that’s terribly positive†¦ America’s Fellow Heavyweights Have Problems, Too Take Europe, for example†¦ †¢ Eurozone: In the third quarter, the 16-nation Eurozone grew at a 1. 5% annual rate. The U. S economy, by comparison, grew at 3. 5%. European consumers and most business sectors are still feeling the pain from the deepest recession since the 1930s. The continent is likely to be the weakest region for global expansion next year, according to Julian Callow, Chief European Economist at Barclays Capital in London. †¢ United Kingdom: This is no bastion of strength, either. Europe’s biggest economy outside the Eurozone is still in recession, due to overly indebted British households and tight credit. British GDP contracted at an annualized 1. 6% in the third quarter. †¢ Japan: The world’s second-largest economy has its own problems, too. At 172% of GDP, Japan’s government debt is by far the largest among rich nations. What’s more, it’s expected to reach 200% next year – and hit 300% within a decade. Rising social security costs and the weak economy are the primary culprits. The new government there is trying to prevent a double-dip recession by spending even more. But with government debt soaring to records, talk of new stimulus measures is already pushing up long-term rates and threatening to curtail the impact of fresh spending. Source: Economics help Question 10: Standard deviation is a widely used measurement of variability or diversity used in statistics and probability theory. It shows how much variation or â€Å"dispersion† there is from the â€Å"average† (mean, or expected/budgeted value). A low standard deviation indicates that the data points tend to be very close to the mean, whereas high standard deviation indicates that the data are spread out over a large range of values. Technically, the standard deviation of a statistical population, data set, or probability distribution is the square root of its variance. It is algebraically simpler though practically less robust than the average absolute deviation. A useful property of standard deviation is that, unlike variance, it is expressed in the same units as the data. Note, however, that for measurements with percentage as unit, the standard deviation will have percentage points as unit. In addition to expressing the variability of a population, standard deviation is commonly used to measure confidence in statistical conclusions. For example, the margin of error in polling data is determined by calculating the expected standard deviation in the results if the same poll were to be conducted multiple times. The reported margin of error is typically about twice the standard deviation – the radius of a 95 percent confidence interval. In science, researchers commonly report the standard deviation of experimental data, and only effects that fall far outside the range of standard deviation are considered statistically significant – normal random error or variation in the measurements is in this way distinguished from causal variation. Standard deviation is also important in finance, where the standard deviation on the rate of return on an investment is a measure of the volatility of the investment. When only a sample of data from a population is available, the population standard deviation can be estimated by a modified quantity called the sample standard deviation [pic] Risks can be reduced in four main ways: Avoidance, Diversification, Hedging and Insurance by transferring risk. Systemic risk, also called market risk or un-diversifiable risk, is a risk of security that cannot be reduced through diversification. Participants in the market, like hedge funds, can be the source of an increase in systemic risk and transfer of risk to them may, paradoxically, increase the exposure to systemic risk. Unsystematic risk also called the diversifiable risk or residual risk. The risk that is unique to a company such as a strike, the outcome of unfavorable litigation, or a natural catastrophe that can be eliminated through diversification. A ratio developed by Nobel laureate  William F. Sharpe to measure risk-adjusted performance. The  Sharpe ratio  is calculated by subtracting the risk-free rate – such as  that of the  10-year U. S. Treasury bond –  from the rate of return for a portfolio and dividing the result by the standard deviation of the portfolio returns. The Sharpe ratio formula is: [pic] The Sharpe ratio tells us whether a portfolio’s returns  are due to smart investment decisions or a result of excess risk. This measurement is very useful because  although one portfolio or fund can reap higher returns than its peers, it is only a good investment if those higher returns do not come with too much additional risk. The greater a portfolio’s Sharpe ratio, the better its risk-adjusted performance has been. A negative Sharpe ratio indicates that a risk-less asset would perform better than the security being analyzed. A variation of the Sharpe ratio is the Sortino ratio, which removes the effects of upward price movements on standard deviation to measure only return against downward price volatility. The Treynor ratio (sometimes called the reward-to-volatility ratio or Treynor measure), named after Jack L. Treynor, is a measurement of the returns earned in excess of that which could have been earned on an investment that has no diversifiable risk (e. g. Treasury Bills or a completely diversified portfolio), per each unit of market risk assumed. The Treynor measure is similar to the Sharpe measure, but the Treynor measure uses the portfolio’s beta instead of the portfolio’s standard deviation. The Treynor measure is calculated as follows: (rp – rf) / ? p In this equation, rp = the average return on the portfolio, rf = the average risk-free rate, and ? p = the weighted average beta of the portfolio. The Treynor measure is found by dividing the portfolio risk premium by the portfolio risk as measured by the beta. An asset’s Treynor measure in isolation also means little. It also must be measured against the market’s Treynor measure, which is calculated by dividing the market risk premium, or the return on the market minus the risk-free rate by the beta of the market, which is 1. 0. If the asset’s Treynor measure is greater than the market’s Treynor measure, the asset has outperformed on a risk-adjusted basis. Source: Investopedia SECTION B: ESSAY QUESTIONS Question 1: One of the primary uses of PPP is in lessening the misleading effects of shifts in a national currency. This is particularly an issue when calculating a nation’s Gross Domestic Product (GDP). For example, if the riel falls in value to 80% of its value on the dollar, the GDP as expressed in US dollars will also drop to 80%. This does not accurately reflect the standard of living in that country (a common use of GDP), however, because the devaluation of the riel is most likely due to international trade issues that will not yet have had any effect on the average Cambodian. By using purchasing power parity, however, one is not misled by the temporary devaluation of the riel in relation to the dollar — a Big Mac ® still costs 9,000 riel in Cambodia and $3 USD in the US, and so the Big Mac ® index exchange rate remains the same. Purchasing power parity is, of course, an imperfect device for determining things such as GDP, as the exchange rate will vary based on the basket item used for the index. This effect is lessened by looking at a large sample of commodities, rather than one or two, but this simply minimizes the problem rather than eliminating it entirely. It is also worth noting that PPP lumps items together into broad classes, not taking into account things such as quality — a hat is a hat is a hat, and its value in the index remains static, even though a shoddy hat’s value on the international market would be much lower than a well-made hat’s value. According to interest rate parity the difference between the (risk free) interest rates paid on two currencies should be equal to the differences between the spot and forward rates. If interest rate parity is violated, then an arbitrage opportunity exists. The simplest example of this is what would happen if the forward rate was the same as the spot rate but the interest rates were different, then investors would: 1. borrow in the currency with the lower rate 2. convert the cash at spot rates 3. enter into a forward contract to convert the cash plus the expected interest at the same rate 4. nvest the money at the higher rate 5. convert back through the forward contract 6. repay the principal and the interest, knowing the latter will be less than the interest received. Therefore, we can expect interest rate parity to apply. However, there is evidence of forward rate bias. Covered interest rate parity Assuming the arbitrage opportunity described above does not exist, then the relations hip for US dollars and pounds sterling is: (1 + r? )/(1+r$) = (? /$f)/(? /$s) where r? is the sterling interest rate (till the date of the forward), r$ is the dollar interest rate, /$f is the forward sterling to dollar rate, ?/$s is the spot sterling to dollar rate Unless interest rates are very high or the period considered is long, this is a very good approximation: r? = r$ + f where f is the forward premium: (? /$f)/(? /$s) -1 The above relationship is derived from assuming that covered interest arbitrage opportunities should not last, and is therefore called covered interest rate parity. Uncovered interest rate parity Assuming uncovered interest arbitrage leads us to a slightly different relationship: r = r2 + E[? S] where E[? S] is the expected change is exchange rates. This is called uncovered interest rate parity. As the forward rate will be the market expectation of the change in rates, this is equivalent to covered interest rate parity – unless one is speculating on market expectations being wrong. The evidence on uncovered interest rate parity is mixed. The effect proposes that if the real interest rate is equal to the nominal interest rate minus the expected inflation rate, and if the rea interest rate were to be held constant, that the nominal rate and the inflation rate have to be adjusted on a one-for-one basis. Real interest rate = nominal interest rate – inflation rate. In simple terms: an increase in inflation will result in an increase in the nominal interest rate. For example, if the real interest rate is held at a constant 5. 5% and inflation increased from 2% to 3%, the Fisher Effect indicates that the nominal interest rate would have to increase from 7. 5% (5. 5% real rate + 2% inflation rate) to 8. 5% (5. 5% real rate + 3% inflation rate). International Fisher Effect theory that the currency of a nation with a comparatively higher interest rate will depreciate in value in comparison to the currency of a nation with a comparatively lower interest rate. It further implies that the extent of depreciation will be equal to the difference in interest rates in those two nations. It is based on the observation that the level of real interest rate in an economy is closely linked to the level of local inflation rate and is independent of a government’s monetary policies. Thus, in general, the higher the inflation rate, the lower the value of currency. Source: Investopedia Question 2: Firstly, Comparative advantage was first described by Robert Torrens in 1815 in an essay on the Corn Laws. He concluded it was to England’s advantage to trade with Portugal in return for grain, even though it might be possible to produce that grain more cheaply in England than Portugal. However, the concept is usually attributed to David Ricardo who explained it in his 1817 book On the Principles of Political Economy and Taxation in an example involving England and Portugal. In Portugal it is possible to produce both wine and cloth with less labor than it would take to produce the same quantities in England. However the relative costs of producing those two goods are different in the two countries. In England it is very hard to produce wine, and only moderately difficult to produce cloth. In Portugal both are easy to produce. Therefore while it is cheaper to produce cloth in Portugal than England, it is cheaper still for Portugal to produce excess wine, and trade that for English cloth. Conversely England benefits from this trade because its cost for producing cloth has not changed but it can now get wine at a lower price, closer to the cost of cloth. The conclusion drawn is that each country can gain by specializing in the good where it has comparative advantage, and trading that good for the other. Example: Two men live alone on an isolated island. To survive they must undertake a few basic economic activities like water carrying, fishing, cooking and shelter construction and maintenance. The first man is young, strong, and educated. He is also faster, better, and more productive at everything. He has an absolute advantage in all activities. The second man is old, weak, and uneducated. He has an absolute disadvantage in all economic activities. In some activities the difference between the two is great; in others it is small. Despite the fact that the younger man has absolute advantage in all activities, it is not in the interest of either of them to work in isolation since they both can benefit from specialization and exchange. If the two men divide the work according to comparative advantage then the young man will specialize in tasks at which he is most productive, while the older man will concentrate on tasks where his productivity is only a little less than that of the young man. Such an arrangement will increase total production for a given amount of labor supplied by both men and it will benefit both of them. Imperfect market refers to a type of  market that does not operate under the rigid rules of perfect competition. Perfect competition implies an industry or market in which no one supplier can influence prices, barriers to entry and exit are small, all suppliers offer the same goods, there are a large number of   suppliers and buyers, and information on pricing and process is readily available. Forms of imperfect competition include monopoly, oligopoly, monopolistic competition, monopsony and oligopsony. Thirdly, a product life cycle refers to the time period between the launch of a product into the market till it is finally withdrawn. In a nut shell, product life cycle or PLC is an odyssey from new and innovative to old and outdated! This cycle is split into four different stages which encompass the product’s journey from its entry to exit from the market. The product life cycle theory is used to comprehend and analyze various maturity stages of products and industries. Product innovation and diffusion influence long-term patterns of international trade. This term product life cycle was used for the first time in 1965, by Theodore Levitt in an Harvard Business Review article: â€Å"Exploit the Product Life Cycle†. Anything that satisfies a consumer’s need is called a ‘product’. It may be a tangible product (clothes, crockery, cars, house, and gadgets) or an intangible service (banking, health care, hotel service, airline service). Irrespective of the kind of product, all products introduced into the market undergo a common life cycle. To understand what this product life cycle theory is all about, let us have a quick look at its definition. This cycle is based on the all familiar biological life cycle, wherein a seed is planted (introduction stage), germinates (growth stage), sends out roots in the ground and shoots with branches and leaves against gravity, thereby maturing into an adult (maturity stage). As the plant lives its life and nears old age, it shrivels up, shrinks and dies out (decline stage). Similarly, a product also has a life cycle of its own. A product’s entry or launching phase into the market corresponds to the introduction stage. As the product gains popularity and wins the trust of consumers it begins to grow. Further, with increasing sales, the product captures enough market share and gets stable in the market. This is called the maturity stage. However, after some time, the product gets overpowered by latest technological developments and entry of superior competitors in the market. Soon the product becomes obsolete and needs to be withdrawn from the market. This is the decline phase. This was the crux of a product life cycle theory and the graph of a product’s life cycle looks like a bell-shaped curve. Let us delve more into this management theory. Source: Buzzle Question 3: | | |Belize |Costa Rica | |Earnings before taxes | |1,000,000. 00 |1,500,000. 0 | |corporate income tax Rate | |0. 4 |0. 3 | |Tax | |400,000. 00 |450,000. 00 | |Earnings after taxes | |600,000. 00 |1,050,000. 00 | | | |300,000. 0 |525,000. 00 | |Dividend wtax rate   | |0. 1 |0 | |Dividend wtax amount | |30,000. 00 |0 | |Remitted amount after wtax | |270,000. 00 |525,000. 0 | | | | | | |Current US Corporate income tax rate | | |5% | |Dividend received by US parent after US Corporate tax | | |26,2500. 00 | |Net Dividend Received | |270,000. 0 |498,750. 00 | | | | | | |Total Earning before tax |250,000. 00 | | | | | | | | |Total Dividend received by Gramboa |768,750. 0 | | | |Total Tax paid |906,250. 00 | | | | | | | | |Overall effective tax  rate |36. 35% | | | Question 4: Option 1 – No Hedging Assume that the expected spot rate in 90 Days is indeed $1. 7850/?. Now: a) 90 days putX = 1. 75P = 0. 015 b) 90 daysX = 1. 71P = 0. 01 3 months laterExercise Option (a) Received = (1. 75 – 0. 015) * 3mil = $5,205,000. 00 Answer: Do Not exercise Option 2 – Forward Hedge Buy a forward hedge at 90 Days forward rate at $1. 7550/? Now enter F @ 1,755 Money receivable in $ = 1. 755 x 3m = $5. 265m Option 3 – Money Market Hedge 1) Day 1 – Borrow ? , Amount borrowed = ? (3m / (1 + (14/4) /100)) = ? 2,898,550. 00 2) Day 1 – Convert all ? to $ = $1. 762 x 2,898,550. 00 = $5,107,246. 00 Option 1: Put $5,107,246. 0 to US bank @ 6% Option 2: Use $5,107,246. 00 as capital investment 3 months later:Option 1 Received ? 3 mil to pay ? 3 mil to British Bank Dollars in pocket = $5,107,246. 00 * (1+6%* 3/12) = $5,183,854. 69 Option 2 Received ? 3 mil to pay ? 3 mil to bank $5,107,246. 00 (1+12%*3/12) = $5,260,463. 00 Conclusion Money market is the best option as the m oney received is more than Put option hedge. Forward hedge resulted in receiving more than money market hedge wheras no hedging is assuming that the expected spot rate is reached but that is leaving it to chance. — END OF ASSIGNMENT– How to cite International Finance: Study Notes, Papers