Reflection on the The Political Morality of Race Work Essay - 1

Reflection on the The Political Morality of Race Work - Essay Example Having ‘racial label’ do shape the way people think of themselves. As stated with the same source, â€Å"what people can do depends on what concept they have available to them; and among the concepts that may shape one's action is the concept of a certain kind of person and the behavior appropriate to that kind†. Helping one person think he is inferior among others may add more insult to injury and this indeed will result in final self-breakdown. How devastating that would be! Culture and civilization also became an object in Kwame Anthony Appiah’s essay. These two has a function in further dividing individuals globally by racial differences. He defined culture as â€Å"the totality of socially transmitted behavior patterns, arts, beliefs, institutions, and all other products of human work and thought†. There have been Orientals, Africans, and Chinese people that were to adopt a culture and civilization different from their traditional one such as th at of Americans but still there the differences are noticeable. It is said that every race has its own common culture. Like black Americans have their own common culture on â€Å"values and beliefs and practices that they share and they do not share with others†, as stated in the essay. It is true that each nation and race has its own culture. This may lead to some racial gaps in our global society. Yet, it is not simply a hindrance in having a good relationship with them. Unless they wouldn’t do something terrorist act, what is wrong with dealing with them? All of us are both humans. We do need respect and equality. What is the United Nations for but to supposedly bring peace and equality globally? Why can’t other people bridge the differences and go on living life to the full together in accord? Civilization may play a great role in stereotyping minority race. However, it is not always good for some nations that view their race inferior to others. Countries th at are well-developed economically were viewed by many as greater than anybody else. To mention some, the USA and Britain are viewed as masters of the land. They run the world market.     

Crucible and McCarthyism Essay Example for Free

Crucible and McCarthyism Essay In American History there were two proceedings that were very similar, yet three hundred years apart. The Salem Witch Trials took place in 1692, the seventeenth century and McCarthyism took place in 1948 between 1956, the mid twentieth century. These two proceedings are known as two of the greatest mass tragedies in America. The Crucible is an allegory of McCarthyism or in other words the second Red Scare. During McCarthyism the United States was petrified of Communists influence. Many people in both the Crucible and McCarthyism who feared the court provided names of suspects in an attempt to save themselves. Throughout these two proceedings, there is the concept of mass hysteria. Mass hysteria is a form of group thinking in which several people have something in common and begin to think in the same way. The Crucible began as a way for the oppressed girls to avoid being punished. The girls then found this to be an ideal way to get revenge on anyone whom you disliked. People started accusing their neighbors of being witches so they could steal their farmland. Others, like Abby, accused others of being witches if they wanted to steal their husband or wives, or even possessions. The McCarthy hearings, as they were known as, were known to have dominated our country. These hearings, were of suspects being related to communism, were interviewed and forced to give up the names of others, or they were imprisoned, and their names were black listed. One similarity between McCarthyism and the Salem Witch Trials is that â€Å"everybody is doing it mentally.† The lives of the innocent people were ruined in both eras because of all the accusations and punishments. Both the people accused in the Salem Witch Trials and the people accused in The McCarthy hearings were found guilty with such little evidence. There were so many uninhabited accusations, with little to no proof. During the Crucible time period, those accused of being witches were sometimes sentenced to be tied to a rock and thrown in a pond, and if they sank, they were declared innocent, but if they somehow survived the dunking, then they were shown to be witches and then executed. Most of those found guilty of witchcraft were hung. In the Crucible, Giles Corey was pressed to death with r ocks, because he refused to plead guilty or innocent. Throughout the Crucible people’s names are destroyed even when they are completely innocent. In the book The Crucible by Arthur Miller, John Proctor states, â€Å"Because it is my name! Because I  cannot have another in my life! Because I lie and sign myself to lies! Because I am not worth the dust on the feet of them that hang! How may I live without my name? I have given you my soul; leave me my name†(Miller)!

The Signficance of Violence in Graham Greenes The Destructors Essay

The Signficance of Violence in Graham Greene's The Destructors In serious fiction, no act of violence exists for its own sake. Graham Green, in his short story â€Å"The Destructors,† reveals certain intangible needs met through one central act of violence. One need we all have as humans is the need to be creative, to express ourselves, to use our imagination. All little boys use their imaginations, which is based on what they see in their environment, whether that be television or their own neighborhood. The gang of boys in â€Å"The Destructors† witnessed destruction every day of their lives and played in the rumble of homes as they would a mound of dirt. The gang met every morning at â€Å"the site of the last bomb of the first blitz,† which hit when the leader of the gang was but a year old. Along with the destruction to the ground they met on, the house just beside it â€Å"suffered from the blast of the bomb and the walls were supported on wooden struts.† The gang was well accustomed to seeing destruction, therefore their imaginations were corrupted with it. In an attempt to be creative, to use their imagination, the gang collectively decided to destroy the house that survived the bomb. â€Å"Destruction after all is a form of creation. A kind of imagination had seen this house as it had now become.† The need to use their imaginations won over their logical thought. Another need that plagues us all is the need to be known. Many people’s biggest fear is to die unknown and alone. We all try to make our mark in the world, whether it be through good grades, athletics, or putting gravy on the walls. We become known for our deeds, both the positive and the negative. The boys longed for the respect and the uniqueness that bringing a house ... ... be met, either in a positive, constructive way or in a negative, destructive way. Through a negative, destructive act, Graham Green highlights how a gang of boys meets the intangible necessities. Being a person who chooses to fulfill my needs through positive, constructive actions, I understand there is a better way to be creative, to be known, and to be comfortable without bringing a building down with my needs. I choose to be creative through music, to be known as one who helps rather than hinders, and be comfortable with what I have or do not have. Through analyzing this short story, I can now understand and sympathize this those who choose a different path than my own. Work Cited Greene, Graham. "The Destructors," Story and Structure. Seventh Edition. Edited by Laurence Perrine, assisted by Thomas R. Arp. New York: Harcourt Brace Jovanovich, 1988, 49-61.

Developmental Psychologist: Neal Krause

He was born in Mineola, New York in 1948 and grew up in New Jersey with his family. He has spent most of his adult life teaching others about development during the aging process. He graduated with his bachelor’s degree from the University of Oklahoma, received a master’s degree from Sam Houston State University and a Ph. D from Akron University and Kent State University. He teaches at the University on Michigan and has written numerous articles about the topic of relieving stress during the final phase of life’s development. Neal Krause Developmental psychology is the study of human growth and development.It focuses on the ways in which humans grow, learn and increase in knowledge throughout the average life span. Most developmental psychologists focus on the early years of the life cycle because this is the time in which development and learning occurs the most rapidly. In the first few years of life a person goes from being a completely helpless creature depen dent upon others for nutrition, safety basic cares and comfort to being a somewhat autonomous individual. What many of these psychologists fail to realize or focus on however, Dr. Neal Krause makes up for.He shows the world that although the early years are important development does not end at the age of five. The speed of development and learning does slow down as the person matures into adulthood, but it does not stop. Each new experience or challenge brings new information and changes the developmental process. Just as everything has a beginning, it also has an ending and human development is no exception. It often appears that as human beings age and get closer to the end of life, the development reverses and they revert back to the beginning stages. This factor in itself creates an entire field of developmental psychology.It can be a very frightening and frustrating time in which people who have cared for others realize they need to be cared for. The loss of independence durin g these years can make this phase of development one of the most stressful. This development of the aging population is the area in which Dr. Neal Krause has found his specialty. Neal Krause is currently a major influence in the field of developmental psychology focusing on the process and development at the end of the life cycle. He is on the teaching staff at the University of Michigan’s School of Gerontology, where he has taught and conducted studies since 1986.He specializes in the study of the effects of stress on the aging process and finding ways to better cope with this stress. By studying the ways aging populations of different cultures, gender and social groups deal with the stresses at the end of life; he can help provide better coping methods for these people and the people who often help care for them in the later years. Dr. Krause’s personal journey through life’s development began humbly, like that of most post World War II babies, on December 14, 1948 in Mineola, New York. He was the second child born to blue collar working class parents (N.Krause, personal communication, September, 10, 2007). His father left school during his second year of high school to join the work force (N. Krause, personal communication, September, 10, 2007). He spent most of his early childhood years in New Jersey along the north shore, where he and his parents settled along with his older brother and younger sister (N. Krause, personal communication, September, 10, 2007). His teenage years were just as modest as his early childhood. He attended public high school in a very overcrowded school building (N.Krause, personal communication, September, 10, 2007). The building was too crowded to accommodate all of the district’s students at the same time; therefore the school operated on a split session schedule. Neal Krause attended school from 6:30 am. until 12:30 pm. The second half of the student body attended from 1:00 pm until evening (N. Krau se, personal communication, September, 10, 2007). In order to save money for college, Neal worked thirty-five hours per week after school and on weekends at a shoe store as a stock boy (N. Krause, personal communication, September, 10, 2007).He attended college at the University of Oklahoma where he received his first degree a Bachelor’s in Business Administration in Marketing and Management (umicpeople, 2005). He chose this school, because the tuition was only fourteen dollars per credit hour for out of state tuition and since he was paying for it himself this was his most reasonable choice (N. Krause, personal communication, September, 10, 2007). In order to help pay for his college tuition he worked forty hours each week in a mental institution that he stated resembled the one from the movie â€Å"One Flew over the Coo- Coo’s Nest† (N.Krause, personal communication, September, 10, 2007). His full time job at this facility led to a low grade point average at s chool, but an interest in human behavior and his future career (N. Krause, personal communication, September, 10, 2007). After his graduation from University of Oklahoma, he decided to pursue his education in human behavior. This decision led him to Sam Houston State University where he received a Masters degree in psychology and sociology. He then went on to receive a PhD. from a combined program between Akron University and Kent State University in sociology.He graduated from this program in 1978. His paid professional career began in 1978 in his area of interest human behavior and coping mechanisms. He spent the next twenty-nine years dealing with the topic of stress and continues to do so. Stress is a factor that affects every human on the planet in some way at some point during the life span. Stress can have both positive and negative effects on the body. In positive ways it can motivate a person to strive towards his best ability or flee an area of danger. In the negative aspe ct it can cause serious health issues to manifest (high blood pressure, heart attack, ulcers).Dr. Krause realized that although stress occurs in everyone’s life, not everyone develops the negative effects of stress. He has made it his mission to discover why some people find effective and healthy ways to cope with stress and others succumb to the negative health factors that can result. From 1978 to 1981, he took a postdoctoral fellowship at Indiana University. This was where he met his wife (N. Krause, personal communication, September, 10, 2007). The fellowship led him to Yale for a year where he worked on a large community survey for the elderly (N.Krause, personal communication, September, 10, 2007). The offer of a better salary led him to Galveston, Texas and the medical branch of University of Texas (N. Krause, personal communication, September, 10, 2007). While employed by the University of Texas, his work focused a great deal on the stress of women of various cultures who chose to work outside of the home as opposed to those who chose to be homemakers. Most of these studies and articles occurred in the late 1970’s and early 1980’s (umicpeople, 2005).At this time in history the issue of women in the workplace was very relevant to society as this was the generation of the â€Å"super mom†, who wanted to do every aspect of life to perfection. The study of stress levels in this population was quite significant at the time. One study conducted in 1983 was proposed on over the debate about whether a woman’s marital and child rearing stress was relieved by working outside of the home. One side of the argument stated that by working outside the home, women would have a break from marital and care giving responsibilities, thus relieving stress.The opposing side stated that the stress would in turn be increased due to the fact that the responsibilities would still be present when she returned home, thus multiplying the stress. The study indicated that although some of the stress of homemaking and marital responsibilities were somewhat decreased no significant difference appeared in the child rearing responsibilities ( Krause, 1983) He left Texas to move to Michigan in the mid 1980’s. He began his teaching career at the University of Michigan in 1986, where he received his tenure in 1989 and became a full professor in 1992 (N.Krause, personal communication, September, 10, 2007). He has remained there since that time. He currently is an instructor and researcher in the School of Gerontology at the University of Michigan. After moving to Michigan he changed the focus of his research to the elderly and the rapid aging of the â€Å"baby boom generation†. He has studied the aging population in different cultures and genders to find the differences in the aging processes in the various populations. Since the end of life brings about major changes in independence and security, stress becomes a signi ficant issue.This can be a frightening time and one of the most stressful during the life span. Continuing on his theory that some people cope with stress more effectively than others, he has focused on how various elderly people deal with stress in different ways and what factors make the differences for those who age with less stress. One of his studies involved over eight hundred elderly people (over age sixty-five) from mixed cultural backgrounds and both genders. They were asked what roles in life were most important to them.The study determined that most elderly people mentioned a parenting, grand parenting, other relative, or community role. Those with control over this kind of role in their lives had a tendency to live longer and have more value in their lives (Krause and Shaw, 2000). This study also determined that the reason for this longevity and quality may be partly due to the habits of the people. Those with well defined roles were less likely to participate in unhealt hy habits such as smoking and consuming excessive alcohol than did the people without these roles, thus leading to longer and often healthier lives (Krause and Shaw, 2000).In addition to this study, he conducted one along the same lines with the elderly population and their perceived role of security (that if they need help or support from someone it is available). This study concluded that as age increases this feeling of having needed support tends to decline and thus the security with it (Krause, 2007). These studies led to studies on the social relationships of the elderly. Most of the studies determined that the people with healthy social relationships had less negative effects from stress and appeared to live more fulfilling lives.The studies went from the basic study of roles in life to determine differences in other populations. He began to focus more on the differences between aging people from different cultural backgrounds. During his studies of people from different cult ures he noticed that some cultures were more effective in coping with the factors of stress during aging in spite of having healthy values and roles in life. One of these cultural differences was between elderly Caucasians and elderly African Americans. He determined that the African Americans on average had fewer negative effects of stress than did the same age population among Caucasians.He added the aspect of spiritual beliefs and religion to the list of possible coping mechanisms. One of these studies found that African Americans tend to read the Bible more and pray more. The study also indicated that because of the traits of culture, African Americans tend to develop a closer more personal relationship with God (pray as if God is literally in the room with them and talk more personally) and therefore may be able to find this relationship helpful in coping with the stresses of daily life (Krause and Chatters, 2005).He went on to study the same effects in Mexican Americans. The c ulture is different and the ways in which they practice religion is often different. He also conducted studies on people from Japanese backgrounds. In addition to the cultural differences in the ways elderly people cope with stress, Dr. Krause went on to explore the reasons that people within the same culture often dealt differently with the aging process. He continued to study the religious aspect after noting that it had played a significant role in cultural studies.He studied the differences in gender in relation to religion and coping. He noted that in general women attended church more regularly and sometimes had a deeper spiritual devotion than men. He continued the studies with some studies on religion with respect to developing a positive relationship with the clergy and social relationships within the church. In all of the studies the overall indication was that the more healthy relationships, the more positive experiences and the deeper religious devotion, the better equip ped the better the person tended to be at positive coping.Dr. Krause studied the effects that negative experiences such as traumatic events can have on coping as well as negative experiences in social and religious situations. The results of these studies provided support for the studies of the positive effects of religion and relationships on a person’s longevity and quality of life in later years. People with negative experiences in religion were less likely to attend church regularly or develop positive relationships within the church and less likely to cope effectively with stress.People who claimed to be deeply religious, but claimed to have doubts about their religion had a tendency to develop stress during the aging years. Those who had suffered multiple traumatic events during their lives or within recent years had less effective coping mechanisms especially if they did not have strong family support. He has added a sense of self-esteem to the studies and has found th at people with very high self –esteem and very low self-esteem both have negative effects on coping, but a comfortably positive self-esteem is a healthy balance.An additional factor that was determined to make a difference in coping mechanisms focused on social and economic status of the individual. With the cost of healthcare and nursing facilities for the elderly, having a lack of financial means had a strong negative effect on the individual’s ability to cope with stress in the final phase of life. In addition to knowing they have nothing left to leave their children. Throughout the past three decades Dr. Neal Kruse has explored the extensive topic of stress and how people cope. He has studied the difficulty of aging and has found how some people make the aging process easier.His studies have concluded that the people with well defined positive roles and a strong support (family or social) system tend to develop positive coping skills in all cultures. Deep religious conviction and involvement in a church community can act as a positive support system and help a person develop positive coping skills. People with a healthy sense of self and value of self worth in various cultures developed coping mechanisms. African Americans had a tendency to develop more healthy skills than Caucasians, possibly due to religious beliefs and practices.His studies demonstrate that financial planning in early years would help alleviate stress in later life. Dr. Krause has an appreciation for the elderly and development at the end of the life span. He has demonstrated that there are ways to make this phase of life better and continues to study ways in which the stress and anxiety of the aging process can be alleviated. His study of this last phase of the life cycle helps younger people know steps they can take to minimize their level of stress during these years.If they develop strong family, spiritual and social relationships and have a financial plan for the agin g years, they can hope to reduce the negative effects of stress during the aging years. Dr. Krause currently teaches doctorate classes to other researchers in the field to help them gain a better appreciation of the value of the final phase of the human life cycle. It is no mystery to anyone that stress can have a negative impact on people’s lives. As the computer and electronic age make life easier, it also seems to make it move faster and instead of stress being reduced the stress increases as people struggle to keep up with society. Dr.Krause has shown that a big part of psychology and human development is finding a healthy balance in the stress levels of life. He has dedicated his life to helping people find this balance. He has chosen to focus on a population that many in the field of psychology have chosen to ignore, the elderly. He believes that although progression and learning slow during these years and in many cases reverts back to child hood, this is still a very important phase of human development and must not be forgotten. This regression to childlike behavior means a loss of independence and security. It brings about a fear of the unknown and eventual death.It includes a loss of dignity and privacy. Elderly people face losing the ability to make their own decisions and care for others. They have to face the reality that instead of being the care giver they have to be the one being cared for. In many cases they can no longer live alone and have to decide if they will stay with family or go to a care center. If they go to a care center, they may not have enough money to cover the incredible expenses involved in elderly care. With a large portion of the nation’s population rapidly reaching retirement age, these concerns are becoming a reality for increasing numbers of people everyday.This phase of life is one of the most frightening and stressful phases of life. If properly planned for however, it can be one of the most enjoyable and fulfilling. Dr. Krause has spent nearly thirty years studying and attempting to find ways to help people age with more dignity and less stress. He has studied the coping mechanisms that work effectively and those that lead to premature aging and even death. He has published his findings to help those who care for the aging populations and those who are looking at retirement age find the most effective coping mechanism possible for what can be one of the most stressful times of life.Most people will go through this phase of life and many of the nation’s population is either currently going through this phase or soon will be. With this realization the focus of psychology is rapidly changing to what Dr. Krause has known all along. They are beginning to realize that the aging process of human development is a vital part of the life cycle. There are more studies being made all of the time and the government is beginning to realize that the elderly need assistance in funding the m ounting cost of care.Most employers now offer retirement plans to help their employees prepare for the retirement years. Home health is becoming an option to help elderly people maintain independence for longer periods of time. This involves care givers providing support to elderly people in their own homes. Many of these changes are taking place in society because of studies conducted such as the ones Dr. Krause has conducted throughout his career. These studies have helped many people be more prepared for retirement and aging. It helps to have this valuable information to help make the â€Å"golden years more golden†. References: Krause Neal. (2007)Age and Decline in Role-Specific Feelings of Control University of Michigan. Retrieved September 11, 2007 from: Age and Decline in Role-Specific Feelings of Control — Krause 62 (1): S28 — Journals of Gerontology Series B: Psychological Sciences and Social Sciences Krause, Neal. (1983) Employment Outside the Home and Women’s Psychological Well-Being Retrieved September 11, 2007 from: SpringerLink – Journal Article Krause Neal and Chatters, Linda. (2005) Exploring Race Differences in a Multidimensional Battery of Prayer Measures Among Older Adults. Retrieved September 12, 2007 from: http://findarticles.com/p/articles/mi_m0SOR/is_1_66/ai_n13807640/pg_2 Krause, Neal and Shaw, B. A.(2000) Aging is Improved by Personal Control of Life Roles.   Retrieved September 11, 2007 from: Aging & Aging Parents: Aging is Improved by Personal Control of Life Roles University of Michigan people (2005) Retrieved September 10, 2007 from: http://www.psc.isr.umich.edu/people/cv/krause_neal_cv.pdf

Money and Banking Study Guide Chapter 1-5

Chapter 1- Why study Money, Banking and Financial Markets? Why are Financial Markets Important? Financial markets are crucial to promoting greater economic efficiency by channeling funds from people who do not have a productive use for them to those who do. Well functioning financial markets are a key factor in producing high economic growth, and poorly performing financial markets, vice versa. Financial markets and intermediaries have the basic function of getting people together by moving funds from those who have a surplus of funds to those who have a shortage of funds. The Importance of Interest Rates On a personal level, high interest rates can deter you from buying a house or a car because the cost of financing would be too high. Conversely, they could encourage you to save because you earn more interest by putting your money aside in savings. ON a more general level, interest rates affect the overall health of the economy because they affect not only consumers’ willingness to spend but also businesses’ investment decisions. High interest rates for example might cause a corporation to postpone building a new plant that would provide more jobs. The Importance of Stocks On a personal level the fluctuations in stock prices affect the size of people’s wealth and as a result may affect their willingness to spend. On a general level, it affects business investment decisions since the price of shares affects the amount of funds that can be raised by selling newly issued stock to finance investment spending. A higher price for a firm’s shares means that it can raise a larger amount of funds, which it can use to buy production facilities and equipment. A higher price means it can raise a larger amount of funds, which it can use to buy production facilities and equipment. Role of Financial Intermediaries Financial intermediaries are institutions that borrow funds from people who have saved and in turn make loans to others. Banks are included in this category. They accept deposits and make loans. These include commercial banks, savings and loan associations, mutual savings banks and credit unions. Investment banks are, insurance companies, mutual funds etc. are a different category. Money growth and Inflation Inflation may be tied to continuing increases in the growth rate of the money supply. Countries with the highest inflation are those with the highest money growth rates. Questions: – Quantitative easing is done by the Federal Reserve buying more bonds. This is how they decrease the interest rate. Therefore, since the Federal reserve said they will be keeping the interest rate close to zero for the next two years, is this not considered QE3? – How many shares of stock are too much? Can’t a company infinitely raise money than? Like when does it become a problem in terms of ownership? When 51% is in the hands of the public? Are stock profits considered cash flow for a company? Chapter 2- An Overview of the Financial System Indirect Finance vs. Direct Finance In direct finance borrowers borrow funds directly from lenders in financial markets by selling them securities that are claims on the borrower’s future income or assets. In indirect finance, lender-savers provide funds to financial intermediaries, who provide funds to borrower and spenders, as well as into financial markets. This financial intermediary borrows funds from the lenders savers and then using these funds make loans to borrower-spenders. This process is called financial intermediation. It is more feasible for them to do this because of their economies of scale and ability to shy off transaction costs. Also it provides liquidity services, and risk sharing. This process of risk sharing is also sometimes referred to as asset transformation, because in a sense, risky assets are turned into safer assets for investors. Firm and Individual Ways to Obtain Funds First way is to issue a debt instrument such as a bond or a mortgage. Second is by raising funds through issuing equities, such as common stock. Primary vs. Secondary Market Primary is where new issues of a security such as a bond or sock are sold to initial buyers by the corporation or government agency borrowing the funds. A secondary market is a financial market in which securities that have been previously issued can be resold. An investment bank assists in the initial sale of securities in the primary market by underwriting the securities: it guarantees a price for a corporation’s securities and then sells them to the public. A corporation acquires new funds only when its securities are first sold in the primary market. Importance of Secondary markets Although they don’t directly increase corporations stock they nonetheless serve two important functions. (1) they make it easier and quicker to sell these financial instruments to raise cash; that is they make the it more liquid. This increased liquidity then makes them more desirable and thus easier for issuing firm to sell in the primary market. (2), the secondary market determines the price of the security that the issuing firm sells in the primary market. The investors buying in the primary will pay the corporation no more than the price they think the secondary market will set for the security. Brokers vs. Dealers Brokers are agents of investors who match buyers with sellers of securities; dealers link buyers and sellers by buying and selling securities at stated prices. A dealer is a person who will buy and sell securities on their account. On the other hand, a broker is one who will buy and sell securities for their clients. When dealing with securities, dealers make all decisions in respect of purchases. On the other hand, a broker will only make purchases as per the client’s wishes. While dealers have all the rights and reedom regarding the buying and selling of securities, brokers seldom have this freedom and these rights. Money Market vs. Markets The money market is a financial market in which only short-term debt instruments are traded. The capital market is the market in which longer-term debt instruments and equity instruments are traded. Money markets are usually more widely traded so tend to be more liquid. Short-term securities are also less volatile in p rices than long-term securities, making them more safer investments. Certificate of Deposit (CD) Is a debt instrument sold generally by commercial banks that pay annual interest of a given amount and at maturity pays back the original purchase price. They are sold in the secondary market. Repurchase Agreements (Repos) These are effectively short-term loans usually with a maturity of less than two weeks, for which treasury bills serve as collateral, an asset that the lender receives if the borrower does not pay back the loan. A large corporation for example may have some idle funds in its bank account say $1 million that it would like to lend for a week. Microsoft uses this excess $1mil to buy Treasury bills from a bank, which agrees to repurchase them the next week at a price slightly above Microsoft’s purchase price. The effect is that Microsoft makes a loan of $1 million ot the bank and holds $1 million of the bank’s treasury bills until the bank repurchase the bills to pay off the loan. Federal Funds and Federal Funds rate These are confusing because the federal funds designation is not to be confused with loans made by the federal government. It is rather by banks to other banks. One reason they might borrow from other banks is to meet the amount required by regulators. The federal funds rate is a closely watched barometer of the tightness of credit market conditions in the banking system. Its the interest rate at which depository institutions actively trade balances held at the Federal Reserve, called federal funds, with each other, usually overnight. When high that means banks are strapped for funds, when low, banks credit needs are low. Thus with a high federal funds rate banks require more money reserve in their vaults and thus can’t issue out loans as regularly. Asymmetric Information: Adverse Selection and Moral Hazard When one party often does not know enough about the other party to make accurate decisions. For example a borrower who takes out a loan usually has better information about the potential returns and risk associated with the investment projects for which the funds are earmarked than the lender does. Lack of information creates problems on two fronts: before the transaction is entered into and after. Adverse Selection The problem created by asymmetric information before the transaction occurs. It occurs when the potential borrowers who are the most likely to produce an undesirable (adverse) outcome –the bad credit risks- are the ones who most actively seek out al oan are are thus most likely to be selected. Moral Hazard The problem created by asymmetric information after the transaction occurs. It is the risk and hazard that the borrower might engage in activities that are undesirable from the lender’s point of view; because they make it less likely that the loan will be paid back. When you make a loan, it is usually by trust that they do what they say they’ll do with the money. Depository Institutions Commercial banks, Savings and loan Associations, Mutual Savings Banks, Credit Unions. These are financial intermediaries, referred to as simply banks in the text, that accept deposits from individuals and institutions and make loans. Thrift Institutions are all of these minus commercial banks. Commercial Banks Raise funds primarily by issuing checkable deposits, savings deposits, they then use these funds to make commercial, consumer, and mortgage loans and to buy US government securities and municipal bonds. They are the largest financial intermediary and have the most diversified portfolios of assets. Savings and Loan Associations and Mutual Savings Banks Obtain funds primarily through savings deposits often called shares and time checkable deposits. Over time they have been less constrained and are turning into commercial banks. Credit Unions Usually very small cooperative lending institutions organized around a particular group: union members, employees of a particular firm, and so forth. They acquire funds form deposits called shares and primarily make consumer loans. Contractual Savings Institutions Financial intermediaries that acquire funds at periodic intervals on a contractual basis, since they can predict with reasonable accuracy how much they will have to pay out in benefits in the coming years. Liquidity is not as important. Involve life insurance companies, fire and casualty insurance companies, and pension and government retirement funds. Finance Companies Raise funds by selling commercial paper and by issuing stocks and bonds. They lend funds to consumers who make purchases of items and to small businesses. Some are organized by parent corporations to help sell its product. Mutual Funds Acquire funds by selling shares to many individuals and use the proceeds to purchase diversified portfolios of stocks and bonds. Mutual funds allow shareholders to pool their resources so that they can take advantage of lower transaction costs when buying large blocks of stocks or bonds. Money Market Mutual Funds Similar to a mutual fund but they also function to an extent as a depository institution. They sell shares to acquire funds that are then used to buy money market instruments that are both safe and liquid. A key feature is that shareholders can write checks against the value of their shareholdings. Investment Banks It is not a bank or a financial intermediary in the ordinary sense; that is, it does not take in deposits and then lend them out. Instead, an Investment Bank is a different type of intermediary that helps a corporation issue securities. First it advises the corporation on which type of securities to issue (stocks or bonds) then it helps sell (underwrite) the securities by purchasing them from the corporation at a predetermined price and reselling them in the market. They also act as deal makers and earn enormous fees by helping corporations acquire other companies through mergers and acquisitions. Regulations involved Restrictions on entry, only those who have impeccable credentials and a large amount of initial funds are given a charter as a financial intermediary. Stringent reporting requirements for financial intermediaries. Restrictions on certain assets and activities. Deposit Insurance, Limits on Competition. Also, there is a restriction on interest rates that can be paid on deposits. These regulations were instituted because of the widespread believe that unrestricted interest-rate compensation helped encourage bank failures during the Great Depression. In terms of regulation abroad, the major differences between financial regulation in the US vs. Abroad relate to bank regulation as in the past the US was the only industrialized country to subject banks to restrictions on branching which limited banks size. Questions: When a company issues a secondary IPO, is it in the primary market or secondary market? Chapter 3 – What is Money? What are the requirements for Money? (1) Must be easily standardized making it simple to ascertain its value (2) It must be widely accepted (3) It must be divisible so that it easy to make change (4) It must be easy to carry and (5) It must not deteriorate quickly. Examples have included strings of beds used by Indians, to tobacco, and whiskey, to cigarettes. Functions of Money Money is used as (1) a medium of exchange to pay for goods and services (2) a unit of account used to measure value in the economy (3) a store of value used to save purchasing power from the time income is received until the time it is spent. Commodity Money Money made up of precious metals or another valuable commodity is called commodity money. Problem is that it is hard to transport. Fiat Money Paper Currency. It has the advantage of being much lighter than coins or precious metal, but it can be accepted as a medium of exchange only if there is trusting in the authorities that issue it and if printing has reached a sufficiently advanced stage that counterfeiting is extremely difficult. Major drawbacks are that they are easily stolen and can be expensive to transport in large amounts because of their bulk. To combat this there has been the invention of checks. Monetary Aggregates M1 = Currency + Traveler’s Checks + Demand deposits + Other checkable deposits. M2 = M1 + small denomination time deposits + savings deposits and money market deposit accounts + money market mutual fund shares. M1 is the most liquid while M2 is money including assets that have check-writing features and other assets that can be turned into cash quickly at little cost, but are not as liquid. Chapter 4 – Understanding Interest Rates Simple Loan PV = CF/(1+i)^n, there’s not payments in between, it’s just the lender provides the borrower with an mount of funds (principal) which is then repaid back to lender at the end of the maturity (can be any amount of years) as well as an interst. Fixed Payment Loan Lender provides borrower with an amount of funds which must be repaid by making the same payment every period consisting of part principal and part interest. Coupon Bond Your normal type of bond, pays interest by coupon payment, price changes, principal at end. Corporate bonds, treasury bonds, all are coupon bonds. Discount Bond Zero-Coupon Bond, this is a type of coupon bond where it is bought at a price below its face value and the face value is repaid at the end of the maturity date. However it does not make any interest payments. It’s coupon rate = 0. YTM = F-P / P Perpetuity Type of coupon bond that is a perpetual bond and has no maturity date where it repays a principal amount. P = C/i Current Yield With long-term bonds or perpetuities, I = C/P and this just equals the current yield. Distinction Between Interest Rates and Returns A lender is not better off if the interest rate rises. How well a person does by holding a bond or any other security depends on their assets return. Here for a bond, the return is defined as the payments to the owner plus the change in its value, expressed as a fraction of its price. R = C+P2-P1 / P1. R = i + g.. = Coupon rate + rate of capital gain. Greater fluctuations with Long Term Bonds When interest rates rise, long-term bonds bear the worse effect since their present values are taken into far far into the future, therefore their prices are more drastically changing. The more distant a bond’s maturity the greater the size of the percentage price change associated with an interest rate change. It’s all because of the change in capital growth. Interest Rate Risk Prices and returns for long-term bonds are more volatile than those for shorter-term bonds. The riskiness of an assets return that results form interest rate changes is called interest-rate risk. Bonds with a maturity that is as short as the holding period have no interest rate risk. This is true only for discount bonds and zero-coupon bonds. The key is to recognize that the price at the end of the holding period is already fixed at face value, the change in interest rates then have no effect on the price at the end of the holding period for thos bonds, and the return will therefore be equal to the yield to maturity. Fisher Equation Nominal interest rate always equals the real interest rate + the expected rate of inflation. Chapter 5 – The Behavior of Interest Rates Determinants of Asset Demand 1) Wealth – Increasing wealth creates more resources available with which to purchase assets and therefore quantity of assets we demand increases. (2) Expected Returns – An increase in an asset’s expected return relative to alternative assets raises the quantity of assets we demand. (3) Risk – The degree of risk or uncertainty of an asset’s ret urns also affects the demand for the asset. Increasing risk decreasing the quantity of assets demanded. (4) Liquidity – The more liquid an asset is relative to alternative assets, the more desirable it is and greater the quantity demanded. What determines interest rates? There’s two theories: the Bond Market Framework and the Money Market framework called the Liquidity Preference. The best Theory is the combination of the two. Demand Curve in the Bond Market As the interest rate rises, or prices of the bonds decrease, people or willing to lend out more money therefore increase their quantity of buying bonds. This explains the negative slope of the bond demand curve. Supply Curve in the Bond Market As the interest rates rise, or prices of the bonds decrease, people are less willing to borrow by selling bonds considering that their interest payments are higher. Therefore as interest rates increases, quantity of bonds decrease thereby explaining the positive slope of the supply curve. Shifts in the Demand for Bonds The theory of asset demand demonstrated before provides factors which cause the demand curve for bonds to shift. Therefore these four parameters are included: (1) Wealth – Increase in wealth increases demand for bonds. This is because with higher wealth, there is a growing business expansion, and therefore people are willing to lend out money more. Also, propensity to save, if households save more, wealth increases and demand for bonds rises. 2) Expected Returns – Increase in expected returns on bonds relative to alternative assets increases demand for bonds. (through expected interest rates and expected inflation) a. Interest Rates E – Higher expected interest rates in the future, say 10% to 20%, would lead toa sharp decline in price and a very large negative turn. Therefore if people expect higher interest r ates next year, the demand for bonds will decrease. b. Inflation Rate E – An increase in the expected rate of inflation lowers the expected return for bonds. This is because a change in expected inflation is likely to increase the return on physical assets relative to bonds, therefore leading to a fall in relative return on bonds therefore decreasing asset demand. (3) Risk – Increasing risk of bonds relative to alternative assets decreases demand for bonds. (4) Liquidity – Increasing liquidity of bonds relative to alternative assets increases demand for bonds. Shifts in the Supply Curve (1) Profitability of Investment Greater economic expansions yield increases in supply of bonds. The more profitable plant and equipment investments that a firm expects it can make, the more willing will borrow. When the economy is growing rapidly, investment opportunities that are expected to be profitable abound, and the quantity of bonds supplied at any given bond price will increase. (2) Expected Inflation – When inflation is expected to rise, the real cost of borrowing is more accurately measured by the real interest rate which is the nominal rate minus the expected inflation rate, thus real cost of borrowing falls hence quantity of bonds supplied increases. 3) Government Budget – Higher government deficits increase the supply of bonds and shift the supply curve to the right. Government surpluses however do the opposite. Fisher Equation WHEN EXPECTED INFLATION RISES – INTEREST RATES WILL RISE Changes in the Interest Rate due to a Business Expansion In an expansion, the amount of goods and services produced in the economy increase so the national income increases and therefore wealth increases. Therefore demand for bonds increases. At the same, opportunities that are profitable also increase and supply for bonds increase as people want to borrow more. Therefore what happens? Theoretically, nothing, quantity of bonds increases but price/interest rate can go either way. According to data though, usually the supply effect > demand effect as more people invest in new opportunities. Therefore interest rates generally rise during an economic expansion. Business Cycles and Interest Rates Data shows that interest rates rise during business cycle expansions and fall during contractions. Focusing into the Money market now. Liquidity Preference Framework says that the analysis of the money market is the same as the analysis of the bond market. Bs – Bd = Md – Ms. The reason that we approach both in the determination of interest rates with both frameworks is that the bond supply and demand framework is easier to use when analyzing the effects from changes in expected inflation, whereas the liquidity preference framework provides a simpler analysis of the effects from changes in income, the price level, and the supply of money. Demand Curve for Money REMEMBER THAT FOR THE MONEY MARKET THE Y AXIS IS INTERST RATE ICNREASING. As interest rates rise, the opportunity cost of holding money increases therefore quantity demanded for money decreases. The Federal reserve controls the amount of money supplied therefore they are able to cause it into equilbirum. Liquidity Preference Framework: Shifts in Demand for Money (1) Income – A higher level of income causes the demand for money at each interest rate to increase and the demand curve to shift right. People want to hold more money. Thus interest rates will rise. (2) Price-Level Effect – When price level rises the same nominal quantity of money is no longer as valuable; it cannot be used to purchase as many real goods or services. To restore their holdings of money in real terms to its former level people want to hold more money. Therefore increasing the price level increases the demand for money. Thus interest rates will rise. Liquidity Preference Framework: Shifts in Supply of Money (1) Only changes by the federal reserve. Now Combining Liquidity Preference and Bond Framewor When we Increase the MS (1) Income Effect – Because an increasing money supply is an expansionary influence on the economy, it should raise national income and wealth. Both the LP and BSD framwork indicate that interest rates will then rise. Thus the income effect of an increase in the money supply is a rise in interest rates. (2) Price – Level Effect – An increase in the money supply causes verall price level in the economy to rise. The liquidity preference framework indicates that this will lead to a rise in interest rates. (3) Expected Inflation Effect – The higher inflation rate that results from an increase in the MS also affects interest rates by affecting the expected inflation rate. The Bond Supply fr amework believes this leads to higher levels of interest rates. But does a higher rate of Growth of the Money Supply Lower Interest Rates? Of all the effects, only the liquidity effect indicates that a higher rate of money growth will cause a decline in interest rates. In contrast, the income, price level and expected inflation effects indicate that interest rates will rise when money growth is higher. Generally the liquidity effect from the greater money growth takes effect immediately because the rising money supply leads to an immediate decline in the equilbrium interest rate. The income and price level effects take tim to work because it takes time for the increase money supply to raise the price level and income which in turn raise interest rates. The expected inflation rate can be slow or fast depnding on wether or not people adjust expcations quik enough.

Biography of Johannes Kepler, Pioneering Astronomer

Biography of Johannes Kepler, Pioneering Astronomer Johannes Kepler (December 27, 1571–November 15, 1630) was a pioneering German astronomer, inventor, astrologer, and mathematician who is best known for the three laws of planetary motion now named for him. In addition, his experiments in the field of optics were instrumental in revolutionizing eyeglass and other lens-related technologies. Thanks to his innovative discoveries combined with his original and accurate methodology for recording and analyzing his own data as well as that of his contemporaries, Kepler is considered one of the most significant contributing minds of the 17th-century scientific revolution. Johannes Kepler Known For: Kepler was an inventor, astronomer, and mathematician who served as a central figure in the 17th-century scientific revolution.Born: December 27, 1571 in Weil, Swabia, Germany  Parents: Heinrich and Katharina Guldenmann KeplerDied: November 15, 1630 in Regensburg, Bavaria, GermanyEducation: Tà ¼binger Stift, Eberhard Karls University of Tà ¼bingenPublished Works:  Mysterium Cosmographicum (The Sacred Mystery of the Cosmos), Astronomiae Pars Optica  (The Optical Part of Astronomy), Astronomia Nova  (New Astronomy), Dissertatio cum Nuncio Sidereo  (Conversation with the Starry Messenger) Epitome Astronomiae Copernicanae  (Epitome of Copernican Astronomy), Harmonices Mundi (Harmony of the Worlds)Spouse(s): Barbara Mà ¼eller, Susan ReuttingerChildren: 11Notable Quote: â€Å"I much prefer the sharpest criticism of a single intelligent man to the thoughtless approval of the masses.† Early Life, Education, and Influences Johannes Kepler was born on December 27, 1571, in Weil der Stadt, Wà ¼rttemburg, in the Holy Roman Empire. His family, once prominent, was relatively poor by the time he was born. Keplers paternal grandfather Sebald Kepler, a respected craftsman, had served as mayor of the city. His maternal grandfather, innkeeper Melchior Guldenmann, was mayor of the nearby village Eltingen. Keplers mother Katharina was an herbalist who helped run the family hostelry. His father Heinrich served as a mercenary soldier. Keplers gift for mathematics and interest in the stars became evident at an early age. He was a sickly child, and while he survived a bout of smallpox, he was left with weak vision and damage to his hands. His poor eyesight did not hinder his studies, however. In 1576, Kepler began attending the Latin school in Leonberg. He witnessed both the passing of The Great Comet of 1577 and a lunar eclipse in the same year, which were thought to have been inspirational in his later studies. In 1584, he enrolled at the Protestant seminary at Adelberg, with the goal of becoming a minister. In 1589, after obtaining a scholarship, he matriculated to the Protestant University of Tà ¼bingen. In addition to his theological studies, Kepler read widely. While at university, he learned of the astronomer Copernicus and became a devotee of his system. Career, Religion, and Marriage After graduation, Kepler obtained a position teaching mathematics in Graz, Austria, at the Protestant seminary. He was also appointed district mathematician and calendar maker. It was in Graz that he penned his defense of the Copernican system Mysterium Cosmographicum in 1597. Kepler married a wealthy 23-year-old twice-widowed heiress named Barbara Mà ¼eller that same year. Kepler and his wife began their family but their first two children died in infancy. As a Lutheran, Kepler followed the Augsburg Confession. However, he did not accept the presence of Jesus Christ in the sacrament of Holy Communion and refused to sign the Formula of Accord. As a result, Kepler was exiled from the Lutheran Church (his subsequent refusal to convert to Catholicism left him at odds with both sides when the Thirty Years War broke out in 1618) and was obliged to leave Graz. In 1600, Kepler moved to Prague, where he had been hired by Danish astronomer Tycho Brahe- who held the title of Imperial Mathematician to Emperor Rudolph II. Brahe tasked Kepler with analyzing planetary observations and writing arguments to refute Brahes rivals. Analysis of Brahes data showed that the orbit of Mars was an ellipse rather than the perfect circle that was always held to be ideal. When Brahe died in 1601, Kepler took over Brahes title and position. In 1602, Keplers daughter Susanna was born, followed by sons Friedrich in 1604 and Ludwig in 1607. In 1609, Kepler published Astronomia Nova, which contained the two laws of planetary motion that now bear his name. The book also detailed the scientific methodology and thought processes hed used to arrive at his conclusions. It is the first published account wherein a scientist documents how he has coped with the multitude of imperfect data to forge a theory of surpassing accuracy, he wrote. Mid-Career, Remarriage, and War When Emperor Rudolph abdicated to his brother Matthias in 1611, Keplers position became increasingly precarious due to his religious and political beliefs. Keplers wife Barbara came down with Hungarian spotted fever that same year. Both Barbara and Keplers son Friedrich (whod contracted smallpox) succumbed to their illnesses in 1612. After their deaths, Kepler accepted a position as district mathematician for the city of Linz (a post he retained until 1626) and was remarried in 1613 to Susan Reuttinger. His second marriage was reported to be happier than his first, although three of the couples six children died in childhood. At the opening of the Thirty Years War in 1618, Kepler’s tenure in Linz was further imperiled. As a court official, he was exempt from the decree banishing Protestants from the district but he did not escape persecution. In 1619, Kepler published Harmonices Mundi in which he laid out his third law. In 1620, Keplers mother was accused of witchcraft and put on trial. Kepler was obliged to return to Wà ¼rttemburg to defend her against the charges. The following year saw the publication of his seven-volume Epitome Astronomiae in 1621, an influential work that discussed heliocentric astronomy in a systematic way. During this time, he also completed the Tabulae Rudolphinae (Rudolphine Tables) begun by Brahe, adding his own innovations that included calculations arrived at by the use of logarithms. Unfortunately, when a peasant rebellion erupted in Linz, a fire destroyed much of the original printed edition. Later Years and Death As the war dragged on, Keplers house was requisitioned as a garrison for soldiers. He and his family departed Linz in 1626. By the time the  Tabulae Rudolphinae  was eventually published in Ulm in 1627, Kepler was unemployed and was owed a great deal of unpaid salary from his years as Imperial Mathematician. After efforts to obtain numerous court appointments failed, Kepler returned to Prague in an attempt to recoup some of his financial losses from the royal treasury. Kepler died in Regensburg, Bavaria, in 1630. His gravesite was lost when the churchyard in which he was buried was destroyed at some time during the Thirty Years War. Legacy More than an astronomer, Johannes Keplers legacy spans a number of fields and encompasses an impressive number of scientific firsts. Keplar both discovered the universal laws of planetary motion and explained them correctly. He was the first to correctly explain how the moon creates the tide (which Galileo disputed) and the first to suggest that the Sun rotates around its axis. In addition, he calculated the now commonly accepted birth year for Jesus Christ and coined the word satellite. Keplers book Astronomia Pars Optica is the foundation of the science of modern optics. Not only was he the first to define vision as a process of refraction within the eye, as well as explain the process depth perception, he was also first to explain the principles of the  telescope and describe the properties of total internal reflection. His revolutionary designs for eyeglasses- for both nearsightedness and farsightedness- literally changed the way in which people with vision impairments see the world. Sources â€Å"Johannes Kepler: His Life, His Laws and Times. NASA.Casper, Max.  Kepler. Collier Books, 1959. Reprint, Dover Publications, 1993.Voelkel, James R.  Johannes Kepler and the New Astronomy. Oxford University Press, 1999.Kepler, Johannes, and William Halsted Donahue.  Johannes Kepler: New Astronomy. Cambridge University Press, 1992.

How to Decide if You Should Dropout of College

How to Decide if You Should Dropout of College Have you been considering whether or not you should dropout of college? If so, then you certainly are not alone there are millions of students each year who make the decision to quit college and many of them go on to lead happy and successful lives. However, it is certainly a big decision to make and it is not one that should be taken lightly. It is important to think about why you are considering dropping out and what you will do once you do. With that in mind, let’s take some time to explore a few of the advantages and disadvantages that come along with making the choice to dropout of college. When It Is a Good Idea to Dropout of College It is often the case that choosing to quit educational affiliation has a stigma attached to it that can make you feel like a failure. However, the reality is that studying at higher education institutions just isn’t right for everyone. Some people just don’t settle into student life and others are perhaps not ready and could benefit from taking a year or two out! There are certainly plenty of times when choosing to dropout can be the best option. With that in mind, let’s take a look at some of the advantages that come with choosing to dropout of college: No Student Debt – For some people, education just is not a good fit, and this usually becomes apparent early on. You could choose to stick it out and spend a few years being miserable, or you can accept the fact that student life isn’t for you and dropout. If you make this decision early enough, then you should be able to get out of your course before you have a chance to rack up any student debt! Make Money Instead of Spending It – Following on from the previous point, if you choose to dropout, thus avoiding student debt then you will have the opportunity to start earning money rather than spending it! Studying is expensive with the average undergraduate accumulating over $30,000 of debt! This means most young people find themselves held back when it comes to getting on the property ladder or even getting a car, because they have to pay off the student debts first! College Can Wait – One of the advantages to quitting college when you are just not feeling it is that the ability to get a degree will always be there. While it may be expected that you go to college right out of high school, there is no rule that says you have to stick to that schedule. It is becoming increasingly popular for people to return to education later in life so there is no reason to rush. Take Time to Find Your Niche – Choosing a major at an early age can be overwhelming. Many students leave high school with only a vague idea of the kind of career they wish to pursue. Often this can lead to people feeling like they made bad choice. If you feel like this, then dropping out is going to give you time to find your niche. Try out different jobs and explore your interests in order to gain a clearer picture of how your future should play out! When Dropping Out of College is a Bad Idea As with any decision in life, choosing to dropout of college has its downsides. As much as there can be advantages to dropping out, there are just as many disadvantages and it is important to take these into consideration before making a decision. Some of the most common cons of dropping out include: Some Industries Require Recognized Qualifications – In certain careers, it is going to be almost impossible to get your foot in the door never mind progress to a higher level if you do not have the appropriate qualifications. Practical experience can only take you so far before you need to back it up with a degree. If you do intend to drop out then be sure to find out if your chosen career is likely to be hampered by a lack of qualifications. You Will Have to Explain Your Decision – While this next disadvantage is not necessarily one which will have a big impact on your future career path, it is still an important one to consider. Dropping out of college is very much bucking the trend and many of your peers and family will not be pleased about your choice. You may find yourself having to constantly explain to people why you made this decision. Even potential employers will be curious to know why you did not complete your studies. Make sure you are clear about your reasons and this will make it easier to explain to others. You May Not Have Money at First – When you are in college it is likely that you will have some form of material help. However, once you drop out that stops and you will need to find a job. That could take some time, and you may need to start on the bottom of the ladder on little more than minimum wage. It is important to remember that you may well be short on cash so try to have a plan in place for what you will live on when you drop out. The last thing you want to do is get into debt when you have just avoided student loans! In Conclusion, there are lots of things to consider before you decide to officially dropout of college. One thing is clear, it is a decision that will be a very personal one and it is important not to get too bogged down in what is expected of you. Try not to think of dropping out as a shameful thing. There are as many advantages as there are disadvantages. In the end, all that really matters is coming to decision that is that makes you feel better. If that means you dropout of college than that’s perfectly fine, as long as your choice is reasonable.

Qué es NOA1 y NOA2 en las peticiones de green card

Quà © es NOA1 y NOA2 en las peticiones de green card   Si has enviado una solicitud al USCIS pidiendo una tarjeta de residencia para un familiar o una visa para tu prometido recibirs NOA1 y NOA2. Pero,  ¿quà © son y para quà © valen? Antes de empezar a explicar que son NOA1 y NOA2 recordar que en peticiones de familia: Los ciudadanos americanos pueden solicitar la tarjeta de residencia (conocida popularmente como greencard) para sus esposos, hijos, padres y hermanos. Tambià ©n pueden solicitar una visa K de prometido para sus novios/as cuando la intencià ³n es casarse inmediatamente. Sin embargo, los residentes permanentes legales sà ³lo pueden reclamar los papeles para sus esposos y para sus hijos solteros. En el caso de matrimonios, los beneficios migratorios se reconocen tanto a las parejas conformadas por un hombre y una mujer como a las de dos hombres o dos mujeres. Quà © es el NOA1 Cuando envà ­as al Servicio de Inmigracià ³n y Ciudadanà ­a (USCIS, por sus siglas en inglà ©s)  una solicitud para una visa de prometido o una tarjeta de residencia para un familiar, el gobierno te envà ­a un documento conocido como NOA1 o tambià ©n como I-797 para comunicarte que ha recibido la documentacià ³n. NOA son las siglas en inglà ©s de Notice of Action, o nota de accià ³n. Es importante por varias razones. La primera es que contiene un nà ºmero (track number) con el cual puedes verificar por internet el estatus de tu caso. Adems, ese documento seà ±ala la fecha exacta en la que se recibià ³ la documentacià ³n (received date). Esa fecha se convertir en el NOA2 en la fecha de prioridad en el caso de tarjetas de residencia sujetas a cupos anuales. Es decir, aquellas en las que hay que esperar a que haya visas de inmigrante disponibles para darle al solicitante ya que sà ³lo se puede dar un nà ºmero limitado por aà ±o que es inferior al nà ºmero de solicitudes, y de ahà ­ los retrasos y esperas en situaciones como peticiones hechas por residentes permanentes, o las hechas por ciudadanos para sus hermanos. Quà © es el NOA2 El NOA2, que tambià ©n se conoce como I-797C por ser ese el nà ºmero que aparece en el documento, notifica que la peticià ³n ha sido aprobada. Eso no quiere decir que la green card se va a aprobar, sà ³lo que la fase inicial -que hay realmente situacià ³n de parentesco para pedir la residencia- ha sido aprobada. Tampoco quiere decir que ya se acabà ³ el proceso, sino que se pasar a la fase de ajuste de estatus si la persona para la que se ha pedido la tarjeta de residencia est ya en Estados Unidos y puede hacerlo o a la fase de Centro Nacional de Visas (NVC, por sus siglas en inglà ©s) y posteriormente de tramitacià ³n consular, si est en el extranjero.   Adems, tener en cuenta que: hermanos, hijos mayores de 21 aà ±os e hijos casados de cualquier edad de ciudadanos americanosesposos e hijos solteros de residentes permanentes tienen que esperar en el NVC por una visa disponible para ellos. Puede tomar aà ±os, incluso muchos. Verificar su fecha de prioridad del NOA2 con la publicada cada mes por el boletà ­n de visas. Cà ³mo pedir en 10 pasos la green card para un hermano. La tramitacià ³n sirve para entender cà ³mo es todo el proceso de peticiones familiares cuando el pedido est en una categorà ­a sujeta a là ­mites anuales.  ¿Quà © pasa si se extravà ­a el NOA2? Si segà ºn el rà ©cord del USCIS el documento fue enviado pero se extravià ³ por correo o se recibià ³ pero por alguna razà ³n se guardà ³ pero no se encuentra es posible pedir un duplicado del mismo llenando la planilla (forma) I-824.  ¿Cunto tiempo pasa entre el NOA1 y el NOA2? No hay un tiempo exacto y varà ­a mucho de caso a caso, dependiendo muchas veces del trabajo que tengan acumulado en la oficina del USCIS en la que se tiene que tramitar. Adems, habr ms demora si se recibe uno o varios RFE (request for evidence), donde Inmigracià ³n pide informacià ³n o documentacià ³n adicional. Si no hay RFE se estima que si ha transcurrido ms de seis meses desde que se recibià ³ el NOA1 y no se ha recibido el NOA2 es aconsejable llamar al USCIS a la oficina donde se tramita la solicitud y preguntar. En casos muy excepcionales se puede producir un retraso del USCIS que es ms grande de lo habitual para un tipo de trmites. En estos casos, consultar con un abogado para analizar si procede demandar mediante un writ of mandamus.  ¿Quà © pasa si la solicitud no es aprobada? Si el USCIS responde no a la peticià ³n de una tarjeta de residencia -tambià ©n conocida como greencard- para un familiar o una visa de prometido es posible apelar esa decisià ³n. Test Toma este quiz o  test sobre la residencia permanente para asegurarte de que sabes lo principal sobre el proceso de tramitacià ³n y sobre cà ³mo conservarla, una vez que se saca.

Meaning of Concepts Essay Example | Topics and Well Written Essays - 500 words

Meaning of Concepts - Essay Example The values must cover all of the possible outcomes of the event, while the total probabilities must sum to exactly 1, or 100%. For example, a single coin flip can take values ‘Heads or Tails’ with a probability of exactly 1/2 for each; these two values and two probabilities make up the probability distribution of the single coin flipping event. For example, a dart thrown at a dartboard has essentially zero probability of landing at a specific point, since a point is vanishingly small, but it has some probability of landing within a given area. The probability of landing within the small area of the bulls’ eye would (hopefully) be greater than landing on an equivalent area elsewhere on the board. A smooth function that describes the probability of landing anywhere on the dartboard is the probability distribution of the dart throwing event. The integral of the probability density function (pdf) over the entire area of the dartboard (and, perhaps, the wall surrounding it) must be equal to 1, since each dart must land somewhere. The normal distribution, also called the Gaussian distribution. In it each member of the family may be defined by two parameters, location and scale: the mean ("average", ÃŽ ¼) and variance (standard deviation squared) ÏÆ'2, respectively. Type I error, also known as an â€Å"error of the first kind†, â€Å"ÃŽ ± error†, or a â€Å"false positive†, the error of rejecting a null hypothesis when it is actually true. It occurs when we are observing a difference when in truth there is none. Type II error, also known as an â€Å"error of the second kind†, â€Å"ÃŽ ² error†, or a â€Å"false negative†, the error of failing to reject a null hypothesis when the alternative hypothesis is the true state of nature. In other words, this is the error of failing to observe a difference when in truth there is one. This type of error can only occur when the statistician fails to reject the null hypothesis. The

Granpa's Gift To Me Essay Example | Topics and Well Written Essays - 500 words

Granpa's Gift To Me - Essay Example My grandpa presented me a beautiful wristwatch on my 10th birthday. When he presented me the watch, he also reminded me that I should not forget to use it properly. Grandpa showed me the stopwatch function of that golden electric watch and insisted me to arrange my actions after setting timer. Analyzing all the incidents occurred in my life after receiving the gift; I can certainly say that the gift helped me to increase my concentration, discipline and above all my confidence level. Therefore, I can say that a good gift can definitely change one’s life. I never thought or heard in my life that a gift helps one to increase one’s concentration. Grandpa clearly showed me how such a gift will increase one’s concentration. Grandpa told me that time is so precious that we should not waste even a minute in our life. He showed me the way of saving time with a small and interesting example. When we started having soup after setting the stopwatch, I could finish the soup ten seconds before him. Grandpa encouraged me by telling that I saved ten seconds which will be really useful for me at a later time. After this incident I began to observe things very minutely and gradually felt the level of my concentration increasing. Another good quality that the gift brought to my life is discipline. Though I was not too lazy, I would very often violate some of the rules and regulations of my school. Majority of these violations were not deliberate and the prominent among them was going late to school. I would often reach school late and miss the first hour of the study, just for being late to some minutes. When started scheduling my time, that is, began to save time, to my wonder I could reach school too early and it opened me the new realm of knowledge. I realized that I was wasting my valuable time on trifles and that is why I cannot complete assignments and homework’s in time. Realizing this fact I rearranged my

Property law Essay Example | Topics and Well Written Essays - 2500 words

Property law - Essay Example Therefore, the valuer or surveyor’s only real obligation is to the truth, in that the appraisal must be accurate and not inflated. There are a number of factors that goes into this, as discussed below. Moreover, real estate agents and brokers also have a duty to the truth. This means that they, like the surveyors and valuers, must do extensive research before selling a house, and if they make a material omission or false statement of fact, they will be liable, and this liability is strict. This means that there is liability, regardless of whether the statement is innocent, negligent, reckless or intentional. Therefore, anybody in real estate has a duty to anybody who might be affected by their statements or appraisals, which means that anybody in real estate has the duty to do a thorough and diligent search before committing themselves to selling a house, in the case of real estate agents, or valuing a house, in the case of surveyors or valuers. Two Types of Liability The Prop erty Misdescriptions Act 1991 is an Act that governs many different types of ethical breaches a surveyor might encounter or commit. It states that, when a real estate professional makes a false or misleading statement during the course of a business transaction, the person who made the statement is guilty of an offence under this Act (Property Misrepresentations Act 1991 Â § 1(1)). The same goes for an employee – if an employee makes a false or misleading statement during the course of a business transaction, that employee can be guilty under the Act, whether or not the employer is involved with the breach (Property Misrepresentations Act 1991 Â § 1(2)). The misleading statement must also be material, not trivial, and this is judged by the perspective of the reasonable person (Property Misrepresentations Act 1991). Whether or not the statement is misleading is also judged from the perspective of a reasonable person (Property Misrepresentations Act 1991). Moreover, the Act i s one of strict liability, which means that any statement can be actionable, not just statements that are negligent, reckless or intentional (Property Misrepresentations Act 1991). Therefore, under the Property Misrepresentations Act, a real estate professional, any real estate professional, must be very careful with what they tell prospective buyers. Because the Act is one of strict liability, which means that a real estate professional can still be found guilty under this Act, even if that professional is not aware that the statement that he or she is making is false, that means that one of the major responsibilities that a real estate professional has is the duty to ensure that their statements are true and that there are no material omissions. This would mean that extensive research must be done during any transaction, including title searches, surveys, accurate property appraisals and the like. That said, surveyors may be at risk of negligence. According Murdoch (2005) surveyor s may be guilty of negligence when they do not use skill in preparing their reports and the homeowner relied upon the surveyor’s report (Murdoch, 2005, p. 1). Historically, however, the homeowner would not be able to recover damages from the surveyor, as there was no privity of contract between the homeowner and the surveyor. The privity of contra

Critical Thinking in Marketing Literature review

Critical Thinking in Marketing - Literature review Example A firm on the other hand is defined as a commercial organization, which provides services and products to consumers with expectations of getting profits in return. Market orientation is widely utilized in contemporary marketing. It entails analyzing competitors’ strategies and their impact on the public. Firms should redirect all resources toward achieving a common goal to ensure success of the market orientations. Marketing orientation mainly focuses on supplying products, which are made according to the needs, requirements, and desire of the customers in question. According to Jaworski &Kohli (1993), marketing orientation is firm’s generation of intelligence based on market strategies and focus on the need of the customers. The customers’ demands are either future or current. The intelligence should be disseminated to all other departments in the firm and the company of firm should be able to respond to it. During the industrial revolution to around sixty years ago, companies’ focus was based on utilizing the economies of scale and decreasing the cost of production. Products of high quality were less available during such periods and the firms’ main point of focus was to produce products in large quantities. Marketing elements such as design were ignored. The changes were due to the rise of capitalism created by the increasing number of middle class. After the Second World War, the markets became saturated with all types of products. The selling of the products declined. However, the companies adopted a model that focused on the making products and then supplying them to consumers, the model was called sales orientation (Harris, 2008). Despite the changes in strategies, customers were not involved in the process of developing products. Early 1970s Theodore Levitt a Harvard professor with other academicians criticized the sales orientation model and argued that

A Consultant's Report - Written on a fictitious Bank Essay

A Consultant's Report - Written on a fictitious Bank - Essay Example It was found that only one project for development was being investigated by the XYZ Bank. The other two major projects requiring investigation were pending for the routine board decision to be taken. There is an investigation mechanism which needs to be followed by the XYZ Bank. As per the mechanism process, the bank is supposed to investigate whether the development project funded by it is harming the interests of the local communities where the project is going to take place. The XYZ Bank has made a declaration of the same intent that it will disclose all relevant information to bring transparency in its operations for accountability purpose. P&P Consulting found that there was lack of transparency in the functioning of the XYZ Bank; no timelines were fixed to finish investigations. Stakeholders were worried over the slow process of investigation. P&P Consulting saw an opportunity in the said case knowing the crucial role that the bank was supposed to play in the lives of people w ho had to vacate the adjoining lands, and requested compensation. P&P Consulting found flaws in the systems of working calling immediate attention of the concerned stakeholders – the Bank’s President and Board of Directors. Steps taken included: P&P Consulting found that three claims were pending decision by the XYZ Bank. Claim for Golf Link project had been pending for the last seven years, awaiting decision. Rests of the two cases are fresh claims filed with the bank. These cases will test the current operational mechanism of the bank and we are not optimistic that the bank will pass the test. The Golf Links claim describes both the transparency and the timing issues. The affected people contacted the bank requesting an inquiry on August 11th, 2002. Yet, the inquiry was not ordered until July 2004, about two years late when the request for it was filed with the bank. The limit was crossed by not responding back to the claimants about what

Technologies Assignment Example | Topics and Well Written Essays - 3000 words

Technologies - Assignment Example Recently gaming is being developed to run on web based platforms usually through cloud frameworks. All these are just but a few of the approaches the web dimension is availing to provide alternative solutions to stand alone systems. Overview The Sanix case study Sanix is a major accounting firm with that deals with auditing of accounts for both medium and small scale enterprises (SME). At the moment they rely in their distributed branches situated in major cities in United Kingdom. These branches are more specifically located in Bristol, Chester, Derby, Leeds, Westminster and London which is the company’s headquarters. At the onset of automating its accounting business, Sanix outsourced development of its accounting software from Brists Software, a company that is a major software developer for large enterprise system. The software was fully licensed to Sanix and it was to facilitate the processing of accounting figures, generate graphical reports and charts, carry out financi al analysis and keep track of all audited contracts. A copy of the software was distributed to all branches and performed its roles independently. Because the system was incorporated almost 10 years ago, Sanix have felt that the system has fallen short of addressing its new challenges. This has been greatly outweighed by new taxation policies and rates that have been introduced in the recent times by U.K government and which its legacy accounting system does not support. Furthermore Sanix have been outstretched by the accumulated data they handle that works beyond the system’s capacity which demands not only a scalable system but also a networked environment. Recently Sanix have also spread its operations to four other smaller towns in remote U.K and mangling these new centers has become rigid and cumbersome. This is accrued to the lack of real time based accounting systems. All these have created bureaucratic tendencies in how they track contracts as well as added costs in e mploying more IT personnel to support their systems from distributed points. Convectional organization of current system The diagram below describes how Sanix’s present accounting system operates Analysis of the problem From Sanix problem statement, with regards to the use of their convectional desktop based software, there are several needs that present itself. These are: the need for scalability that is the need for a system that accommodates flexibility as requirements evolve over time. Secondly is the need for control (Grove, 2009 ). This requires a system that supports a distributed operation but one which can be handled from a centralized point of view. Also the need for a cost effective solution that is affordable to acquire and maintain. Web-based Application as a solution Suitability of web based approach Web based approach comes along with immense solutions that justifies itself as the best option to Sanix’s operation challenges. These are as follows: First o f all web based applications are cross platform. This is unlike the use of traditional installed software that has to be developed exclusively on given operating system. In this case Sanix have been running their accounting software on windows XP platform (Vincent Wade, 2006). This has often forced the company to rely on window based operating systems in order for its systems’ to run. With the adoption of a web based applica

A Consultant's Report - Written on a fictitious Bank Essay

A Consultant's Report - Written on a fictitious Bank - Essay Example It was found that only one project for development was being investigated by the XYZ Bank. The other two major projects requiring investigation were pending for the routine board decision to be taken. There is an investigation mechanism which needs to be followed by the XYZ Bank. As per the mechanism process, the bank is supposed to investigate whether the development project funded by it is harming the interests of the local communities where the project is going to take place. The XYZ Bank has made a declaration of the same intent that it will disclose all relevant information to bring transparency in its operations for accountability purpose. P&P Consulting found that there was lack of transparency in the functioning of the XYZ Bank; no timelines were fixed to finish investigations. Stakeholders were worried over the slow process of investigation. P&P Consulting saw an opportunity in the said case knowing the crucial role that the bank was supposed to play in the lives of people w ho had to vacate the adjoining lands, and requested compensation. P&P Consulting found flaws in the systems of working calling immediate attention of the concerned stakeholders – the Bank’s President and Board of Directors. Steps taken included: P&P Consulting found that three claims were pending decision by the XYZ Bank. Claim for Golf Link project had been pending for the last seven years, awaiting decision. Rests of the two cases are fresh claims filed with the bank. These cases will test the current operational mechanism of the bank and we are not optimistic that the bank will pass the test. The Golf Links claim describes both the transparency and the timing issues. The affected people contacted the bank requesting an inquiry on August 11th, 2002. Yet, the inquiry was not ordered until July 2004, about two years late when the request for it was filed with the bank. The limit was crossed by not responding back to the claimants about what

International Financing Reporting Standards Research Paper

International Financing Reporting Standards - Research Paper Example Although the US is yet to follow suit, there is a growing enthusiasm towards their adoption by the SEC. Such a move will concequently make it mandatory for the organizations to report using these standards. Currently, efforts are underway to implement the international financial reporting standards in the US accounting field. This is in appreciation of the importance of these standards in cushioning global firms in times of economic hardships. Adopting such standards will undoubtedly assist firms in reducing costs associated with financial reporting since the standards are globally acceptable. This will also enhance transparency in financial reporting as well as offer a standard comparison platform on performance. In addition, it will reduce the time taken by most multinational organizations in reporting their financials. Investors will also benefit from this development since information about performance of companies will be available to them in similar standards. This paper seeks to show how effects of globalization and increased market interdependence necessitate the need for all countries to have common reporting standards. In addition, the paper will outline the financial benefits associated with a common reporting standard in the context of international business. Reasons for the adoption of the IFRS by SEC Unification of the world reporting standards Poon (2012) observes that in 2010, the SEC took a stand on the adoption of the IFRS in the US. Citing the advantages of the use of the IFRS for the United States firms, the SEC decided to embark on a plan to ensure that all organizations in the United States adopt the IFRS. The unification of the reporting standards seeks to put the United States in the same accounting standards as the rest of the world. According to Erchinger& Melcher (2007), the world’s capital markets are likely to gain from the convergence of the world financial reporting standards. The quality applied while drafting these standa rds, their comprehensive nature, and the extent of their application are the main reasons why the world hopes to benefit from these standards (Erchinger& Melcher 2007). SEC in determined efforts to protect the interests of the United States investors sought to implement these standards amid stiff objections by some firms. The first attempts to reconcile the standards of the IFRS with America’s GAAPs in 2007, focused on changing the SEC’s policies so as to accommodate the adoption of the IFRS (Erchinger& Melcher, 2007). Preventing investors in economic crisis In the last decade, the American economy suffered one of the worst economic crises ever in its history. The financial sector being the worst hit sector of the economy showed the laxity of the various state agencies in implementing the policies of the country. Several financial organizations in the country were almost shut down while those that survived were faced by a myriad of problems. This crisis helped reveal a number of problems in the financial management in both the public and sector. These problems were closely

How To Write A Research Paper Essay Example for Free

How To Write A Research Paper Essay This guide covers research papers, and provides advice on forming a title for your research paper, how to plan your paper before you start, and filtering material for your research paper. What is a research paper? The terms research paper and term paper are frequently used interchangeably. However, the terms do not mean the same thing. Term paper was used in the past exclusively to refer to the project (indeed research based) that was due at the end of a term, semester or quarter whereas research paper had a more specific meaning, i. e. a paper written as a summary of research. Hence research papers may be written at any level (before, during and after attending university), they may be published works in a professional journal and they may represent the results of practical research, which would not ordinarily be conducted for a term paper. This is the context in which we will discuss the term research paper herein. A research paper is an academic written assignment that is the product of a research project. This may span days, months, weeks or even years. Typically, research papers will involve the examination of a particular issue, and discuss: * The background or history of that issue * Any outstanding questions relating to the issue (the research paper will commonly focus on one particular question and seek to establish evidence to answer this) * The current data and statistics relating to the issue * The problems relating to the issue as revealed by the data * The problems relating to the issue as revealed by practical primary research (i.e. carrying out interviews, tests etc) or secondary research (i.e. looking at other peoples research) * Proposed solutions to the problems, and the strengths and weaknesses of these * Conclusions drawn from the data, research and evidence, as examined * Recommendations in relation to these conclusions. We will look at each of these elements in turn, in order to understand how a student or professional can write a good research paper. Forming a title for your research paper Unlike most types of assignment, the research paper title is usually decided upon AFTER you have completed the paper. This is so that the title accurately reflects the contents of the paper. However, your research paper will need a working title. This helps you to focus and helps others to understand what you are doing for example, your lecturer/instructor or, if working at a higher level, those funding your project. You should therefore return to this section when you have completed your paper. You then need to pick a concise, accurate title for your research paper that will make readers want to look at your content, help others find your paper in databases, and explain exactly what is covered by the paper with a high degree of accuracy. A research paper will commonly have a title of 15-20 words in length. Every word must be necessary for the title and so for example, Project on Paper on Research on should be removed as these types of phrases are not necessary. Example concise research paper titles: * Unemployment by Constituency * Transport in New York Research Paper Subtitle Unlike a research paper or essay, it is very common to give your research paper a subtitle. This explains your title more fully, puts it in context and qualifies the extent, or scope, of the research. Example subtitles (relating to the above example titles): * 2007-2008 trends using constituency maps * Transport governance and provision since X was elected in 1999 Researching/gathering information for your research paper As your research paper needs to show a good depth of reading, good research skills are paramount! But before you start, a key thing to bear in mind is that you MUST reference all material that you use in your paper. So the first thing to do is find out what referencing style is required (either by your university or, if you are writing a research paper for a journal, by that journal) and start to record the location of your sources using that referencing style. If you do this as you perform the research, youll save yourself hours of time later on. Here are some research tips to get you started: RESEARCH STEP 1 * Form a list of keywords from your research papers working title * Use a thesaurus to find words that mean the same thing as your list of keywords RESEARCH STEP 2 Most students will begin researching using the Internet and indeed, this is a great way to get ideas for your research paper. So start with Google, type in your keywords and bookmark the most relevant information sites that appear in relation to the issue. Then identify all current matters that relate to your issue from those sites. Note: Internet websites provide a fast source of up-to-date information but unfortunately they are not a reliable source. Use a search of the web as a starting point but unless the website is hosted and edited by a reliable organization (such as the Government), dont rely on its contents as a source for your research paper. Find another means of verifying the information. RESEARCH STEP 3 Now youve identified a list of issues and current debates for your research paper, you need to find some quality source material. The first stage is to find the most recent books written about the issue youre researching. Whilst books are not as up-to-date as journals and articles, they will contain valid points-of-view that need to be considered. So where do you find books for your research paper? * Google Books this is a good place to start as it has several thousand books that have been scanned in, together with details and snippet views of those which havent been scanned in. * Amazon.com Amazon is a good source because you can see which books are being released, and their release date, as well as using search inside to look through the contents of many books (this latter service only works if you have placed an order before) * Questia Questia has thousands of books scanned in although you have to pay a small subscription fee. Your university may also provide you with access to a library and you can then search through their databases to find the most relevant and recent books for your research paper. The best way to scan whether a book is relevant to what youre writing about is to look through the index. Youll quickly see if theres anything useful in the book for your research paper. RESEARCH STEP 4 Now you have the latest books for your research paper, you need to start looking for journals. These really should be your main type of source material. Open University Web Resources is an excellent list of such journal databases, although youll need an ATHENS password to use some of them. Our favorite journal databases for consistently excellent and up-to-date content are: * ScienceDirect 2,000 peer-reviewed journals, books, handbooks etc * EBSCO- thousands of journals, millions of articles * Emerald- thousands of journals in management and library and information services, engineering, applied science and technology * Ingenta 4,500+ journals in all fields and a further 20,000 abstracts The latter source, Ingenta, gives you FREE access to the bibliography which is useful for your research paper even if you dont have an athens login. Locate articles relating to your subject and check out the bibliography for further reading which you might be able to locate online without passwords. You can sometimes obtain a free trial of these databases giving you temporary access. Also, the four websites also have a good number of journals that you do not need a subscription to view. These are often indicated by a special icon. For example (from Ingenta): RESEARCH STEP 5 There is one final type of source material you need to consider, and that is the news. If youre lucky enough to have an athens password, your first stop will be Lexis Professional (formerly known as LexisNexis Executive) which contains the full text of newspapers and other news sources worldwide; as well as company data, annual reports and business directory information from Disclosure, Extel, ICC, and Worldscope. If you dont have an athens password, any good news site will suffice US News, CNN etc. Of course, if you are researching an issue which affects another country, you should be looking at that countrys main news website. What you are looking for is any current developments that may affect the research for your paper. This may be statistics released by the Government, consultation papers, proposed changes in legislation, current developments or debates etc. Dont forget, newspapers are NOT a reliable source of information. You are using them to find information for your research paper but you should substantiate this information once you have found it. If it is reported that the Government has released some statistics, go and find those on the Government website. If a consultation paper has been released, go and find the paper and read it. Filtering the material for your research paper The five step research process reveals a lot of information for your research paper and youll need to filter it down, or youll have too much to analyses. This does, however, beg the question how many sources should you use? The answer to this depends on the level of your research paper. If it is an assignment for your degree, you should look at using roughly 9 quality sources per 2,500 words. If it is for some post-graduate course, you can easily double that. A professional research paper (for publication) might use 30-40 sources per 2,500 words. The emphasis in all cases, however, should be on quality and not on quantity. A good selection of research material from a variety of quality sources (i.e. not just books, not just journals, not just the internet and not just the news) is far better than a huge selection of research material from poor quality, unreliable sources of a similar type. To help filter the information you have found for your research paper, you are going to need to evaluate its quality. This involves a consideration of whether: * The source is a quality source -its reliable, dependable and highly likely to be accurate. * The source is unbiased watch newspapers which may have political views. Ask yourself if the writer has presented a balance argument, or has deliberately played down one side of the argument to prove his own personal views. * The source is relevant to your research does it specifically tie in with your working title? * You havent already got enough material to prove what this source proves if you aim to back up each of your arguments in your research paper with 2-3 pieces of evidence (for a very high quality paper) or at least 2 for a student paper, then you can filter out any material that is excessive of this. Creating an outline for your research paper A basic outline will look something like this: * Working title (as discussed previously) * Purpose this is a short statement to say what the paper is for. It helps people who are looking for research papers themselves to assess the relevancy of your research paper to their studies. Example purpose statement: This paper shows the number of people claiming benefits recorded as resident in each constituency in the United States in July 2008, together with comparisons with the levels in July 2007 and July 1997. This paper also presents residence-based unemployment rates for all constituencies in the United States. * Methodology this is a statement of how you will carry out your research. You have already done some secondary research but you may also wish to carry out primary research for your paper. Primary research (sometimes called empirical research) is research you carry out yourself and data that is produced as a result of this, which has never been published before. Primary research may be carried out through face-to-face interviews, telephone interviews, postal surveys, website surveys or focus/discussion groups. Be careful before carrying out research over the phone or through the post though some states allow people to restrict how they are contacted. Secondary research is the study of data that exists already such as books, journals, statistics, other research papers, websites, news reports, magazine articles etc. You have already carried out secondary research through the five step research process. So which research method is best for your research paper? Instinctively you may think that the primary data will provide the most interesting results. However, if your time and budget are both limited, do not be tempted to embark on a study. You will do far better analyzing existing studies than producing a low-quality study that is limited in its value due to the amount of time and finance you can devote to it. * Scope of research all research is going to be limited to certain factors. A paper on crime cannot investigate all types of crime, committed by all sexes, all ages, globally. So how are you going to limit your paper? What areas of the issue will you look at and which will you discard? Your statement of scope will be about 150-300 words long and explain exactly what you are going to cover in your research, and what you are going to leave out (usually with brief reasons). If you are carrying out primary research, you may want to set out the limitations of this here too. * Introduction this is where you set the scene for your reader. You explain what you are researching and why. You identify the issues you will be looking into and you say what you are going to prove. It is therefore a good idea to write this last, along with your final title! * Background/history this section of your research paper isnt essential but might be appropriate. You might want to explain the development of the issue and how particular matters have arisen. Dont bother unless it is necessary, to put the matter in context. * Body this section of your research paper will be broken up into sub-sections, each dealing with a particular sub-matter. Aim to present balanced evidence in each section on the points you wish to raise, and try not to reach any conclusions at this stage. The body is the body of your research, not the analysis. * Findings/Discussion heres where you analyze the research you have conducted and say how your findings are relevant to the issue. Its a very important section, without which you will have merely stated other peoples findings and opinions without contributing anything yourself. * Conclusion this section of your research paper returns to the introduction and stated aims, and spells out very clearly how you achieved them, referring to the points you have proved and the evidence you have used to prove it. It should not be repetitive but instead, it should summarize the results of your research. You should also ensure no new material is introduced at this stage if you have new material for your research paper, put it in the body and findings sections. * Recommendations this section of your research paper is very much optional and will depend on whether such a section would be appropriate for the subject you are studying. Law research papers almost always will include recommendations. What sort of recommendations should you make? These might include: * How policies/the law/practice should be changed, based on your findings * What further research must be carried out before making any sensible recommendations. Your recommendations must actually relate to what you have established in your research paper. You cannot randomly introduce things at this stage that you think might be useful. They must be logical recommendations, based on your research and analysis, and they should follow on from the conclusion. Now you have written out an outline for your research paper, you will literally be able to fill in the blanks and your paper should evolve and progress naturally, following the headings you have chosen. Keep referring back to your working title as you write, as well as to your methodology and scope. This should limit you to material that is most relevant and ensure you dont include excessive, unnecessary points. Finishing your research paper Now youve written up your research paper, youll need to do a little editing and proofreading to ensure the finished product achieves the grade youre looking for. This includes: * Weeding out any unnecessary material. Evaluate what you have written and whether it is needed, keeping the methodology, scope and working title in mind * Proofreading your research paper. Read it out loud, have someone else read it for you, run a spell check, run a grammar check go over the paper several times and make sure you havent made any errors. There are often extra marks for students in respect of presentation. * Checking your referencing. Every source should be properly referenced. Quotations should be in quotation marks. Your work should contain a full list of references and a bibliography. References are sources you actually cite in your work whereas the bibliography includes sources which you may have read, and may have influenced your writing, but you havent specifically cited.