Influence of Television on Contemporary Chinese Culture

Influence of Television on Contemporary Chinese Culture Introduction Technological improvement has brought different methods of information dispensing in the world. One of the most notable information dispensers is television sets. With the increase in media freedom, the media has brought a number of issues which have impacted on the life of people. China is the second world largest economy with an increasing technology development.Advertising We will write a custom research paper sample on Influence of Television on Contemporary Chinese Culture specifically for you for only $16.05 $11/page Learn More It produces and sells a number of electronics including phones and television sets. The country has a young population which spends a number of its time on television set watching different channels. Chinese has a culture which is shared in a certain geographical location. The culture is upheld by the people of the area and it is transmitted to new entrants into the society. The culture covers in areas of language u sed by the people, the way they do things, religion that they practice, structure, identity, norms, belief and values they hold. Art, music and songs also form another form of culture that the people hold. The people, are spending more time with television sets than they are spending with other people because of their busy schedule. How someone behaves is influenced by the exposure that he has. TV is offering an exposure that is changing Chinese culture. The focus is taking is to have an international culture. The views portrayed, the programs and the opinions given by different media personalities affect the culture of the people (Denis-Fred, 2003). This paper will discuss the influence of television, as the most popular medium in today’s China, on contemporary Chinese culture. China overview China is a Middle East country that has undergone a rapid economic growth rate in the recent past. The economic growth is a major determinant in making decision on whether to make an in vestment in the country. China has highly modern developed infrastructures; this are both of transport and those of communication. The systems are advanced so well that access to the country from any corner of the world is highly enhanced, the airports, the sea port, and internal transport are well managed and accessible. The communication network within and without is of high-tech. This is an asset to the business since it reduces the cost of doing business, on the other hand the international market is enhanced at all lengths.Advertising Looking for research paper on cultural studies? Let's see if we can help you! Get your first paper with 15% OFF Learn More The sectors have seen the private and public participation, this boosts the efficiency of the systems and thus one can trade with approximate assumptions. The growth rate of the economy of China has always for the last three decades remained on a positive note. There have even been some rates recorded a s high as 12%. This is an element to show the strength of the economy as well as it gives us the hope of continuity in the market. This growth has enabled China to be seen as the emerging world economy. The rate of growth is another indicator of a stable political environment that encourages local and international investors to invest. China is the world’s most populated country. It has 20% of the world’s population. According to census conducted in 2008, the population stands at 1,330,044,605, the country’s facility rate stands at 1.7%. Of these population 80% have access to television set. They depend on them to get international and national news (Hutton, 2009). Values beliefs and morals One of the major breakthrough that globalization has brought is enhancing movement of people from one region to another. Technology in China and other world nations have made transmission of culture through the media. Persons of different cultures interact; over the TVs they interact when a culture or a way of life of a different country is portrayed over them. It is appreciated that human beings develop a certain mode of behavior from factors arising from socialization right from childhood to adulthood. Our values, beliefs, and morals are largely influenced by the society we live (in cultural and hereditary factors). Societies have different mechanisms that are geared to re-enforcing certain behavior deemed acceptable. However, as human beings interact with each other change their lifestyle, or are compelled to change their mode of belief whether consciously or not, a behavior modification, which in most cases conflicts with previously instilled values, occurs. Globalization has enabled people to interact with each other. They have different culture and the emergence of a global culture is starting to be experienced. Such leads to acquisition of new ways of doing things and cultural exchanges. Of the greatest, it influence the information and technolog y’s role in enhancing cultural effects. The consolidation of the media such as the television, the internet, radio, magazines and newspapers from one country find their way to another because of the opened interaction between nations, consequently influencing people’s way of life.Advertising We will write a custom research paper sample on Influence of Television on Contemporary Chinese Culture specifically for you for only $16.05 $11/page Learn More As Chinese interact with other countries, they change their kind of lifestyle. Since late 17th century, the culture of Chinese can be defined as unique and a tradition. However, with globalization this culture has been eroded and only thin streams of it exist. Today there is a move to the American culture and British culture (Fan and Chan-kang, 2005). TVs program Consequentialism The consequences that airing a certain program in the station is the point of concern, the end result of the programs ar e likely to change the perception and the belief that the people have. If they advocate for a behavior that is centrally to the belief of Chinese culture then they are likely to influence and change the culture of their viewers. The same happens with print media, what they print should be in line with the accepted behavior of the society for example; The way that it advocates for the occurrence of crime may be in a direct way or indirect way affect the behavior of the recipients. It opens a child to the outside environment through the programs. The children are the most affected by what the media says, since their mind is fresh and they may lack the needed guidelines from the parents especially in this era that all the parents are working. They tend to believe the information that is given by the media as the gospel truth. In the streets you will find the children playing in a wrestling ways. They even call themselves names of wrestling personalities as they play. They tend to do wh at they were watching and may hurt themselves. If this is not rectified, chances that they will become violent people in future are high. Chinese are generally people who love peace and keep it as a culture that one should respect each other, however if they see violent act happening over the television, they are likely to be persuaded that this is the way to solve disputes. This changes their preserved culture of dialoging in case there is a problem. A media house is more likely to air a program that fits the greatest number in the population; in a case where the greatest number that are following the channel are not Chinese, or even if the origin country of the station is not Chinese, then the programs are likely to advocate for cultures and lifestyle that are not Chinese. These include in the way the people dress, the language they use among others.Advertising Looking for research paper on cultural studies? Let's see if we can help you! Get your first paper with 15% OFF Learn More The programs should be made for the benefit and acceptance of the greatest portion of the people. The programs and the stories aired should be them that can be appreciated by all the people in the society. On the other hand the timing of the program is of importance. There is the time for family shows, there are those programs that are more made for the youth, children, and the adults. The programs that the media airs are the most important as far as this is concerned. They should be those that are in line with the general believes of the people. As much as some of the cultures cannot be kept further due to the change in the society the media should not be seen as if to criticize it but should be an element of changing the people’s perception in a way that will be acceptable (Greenhalgh and Asrhed, 2005) Television Sets and Racism Different people hold different stereotypes among others and are likely to discriminate them based on these stereotypes. The media more so TVs have programs that portray certain programs about a certain country or ethnic group. They may look into some stereotypes held and assist the people change their perception. An example of this is news about Africa. Africans have for long been seen as if they are behind in technology and development; they have been portrayed as inferior when compared with the white people. A reflection of different issues and topic about Africa will change such a perception. The Americans have been seen as a threat to the Chinese as they are trade competitors there is tension created by Chinese culture that does not fully appreciate the Americans , however TVs have some varying programs’ based in America which can change the perception. The Chinese will change their way of thinking after watching such programs (Gsene, 2002). Television and Heroism Chinese believe in working hand for one to be successful in life; the culture of the people recognize hard work as the basis of becoming a true hero; how ever the perception is being shaped differently by media. When an international or local television station brings a certain movie, that has a hero at the end of the day, it will influence the belief of the person watching it. The way it is portrayed will make the person attribute success to some attributes from the movie, this may be different from what culture demands. Movies are made in such a way they have a message they are delivering home. Some movies are meant to portray how portraying certain super national heroic aspects will be of benefit. There is the character that one admires at one point. Some of them are made to impress but alongside they develop a certain perception that glorify heroism. The perfectionist will make little effort to success. Action movies are in most cases developed in a way that the â€Å"master† or the â€Å"ninja† will outdo the local authorities like the police and can thus go ahead and commit a crime and move unhurt. There is other that the hero intelligence and wisdom are portrayed when he can forecast the future with a good level of precision. What the movie leaves in the mind of the viewers is that one can easily succeed in life by following unlawful means. The fact that the hero always is successful is planting a seed of deviant behavior in the population. A latest series called prison break was portraying an impression that running away from the prison was an easy task and all that was required is an organization among the intimates. Such a movie is in away encouraging crime since the criminal think that even after he has been convicted of a crime, he is smarter than the police and can always run away from the prison. This movie advocates for crime. Another movie that has a negative influence is â€Å"The predictor† by Arnold swarznegger in these movies the hero does not respect the authority but decides to go ahead and look for a predator. The failure of the police was brought out from the start. In this movie, one can always doubt the capability of the police force. When the hero in the movie looks for a plan B, (according to the movie) he is successful in the mission. The Above movie portrays that the police, who are entitled to protect the society, are not able to fulfill their mandate. They are seen not to be able to perform their noble duties. The ease that the hero settled the case proved a lot of deficit on the police. An individual watching the movies will doubt how far the police can go to protect the society. It is advocating that the person can look for solutions in his problems without involving the state. The same personality who acted the movie vied for a senator’s position in California; he was successful by the first trial. The success can be interpolated that the people believed he can perform magic of success the same way he had done it over the movies. This was not true and he is no different from the other senates. A movie Casted by Brooke Shields, Dylan Walsh, named â€Å"The Almost Perfect Bank Robbery (1999)† is another movie that can be seen to advocate for bank robbery. This movie portrays some real weak points about the system that one can use and be successful in life (Hutrerd, 2004). The Local and International News In case of an incidence of crime that was successful in the country, the media brings this news and portrays it as a success story. This creates an impression that this is another way of getting rich. When the media was reporting news on Somalia pirates negotiations that they were making with the government, they created an impression that the pirates were not criminals but this was a legitimate deal that the government had ignored. An example of a report by New York times on January 18, 2010 in the article named Enriched by Record Ransom, Somali Pirates Free Tanker, wrote â€Å"The owners, Maran Tankers Management, said in a statement quoted by The Associated Press that they were â€Å"delightedà ¢â‚¬  that the ship had been released, but declined to provide any details about the negotiations that led to the ship and crew’s release.† By the above statement one can easily think that the business that the pirates were doing was a legitimate and that is why the company opted for dialogue (of which the writer implies that there were some money that exchanged hands). The focus on the media especially in African news and the stereotype that the media has continuously enforced is more likely to encourage racism. The continent is called the Dark Continent. By the name alone, there is a perception that has been created in the minds of the people. They may think that the country has people who are backward in the level of development. They focus on that area that is not present in the continent. The stories will be those of hunger, corruption, drought and backwardness as far as the development of the people is concerned. By giving this picture the media is reinforcing ra cism. Some of the media stations have aired Vietnam movies. In the movies the American personality or the state in general is portrayed attacking the Vietnams. This may be a reflection of how the war was at the time, but it has been exaggerated to fit the current population. In the movies, the Vietnams are short and killed like animals. The hero of the movies after going back home is embraced and crowned for victory. What the movie leaves in the mind of the viewer is that life is not precious and it is thus okay to kill without any consideration. The individual especially a child is more likely to become violent and hold no respect to life of others. In the same movies, the death of an Americans is mourned with a lot of grief but the death of a Viet is celebrated. This spreads racism that the Viet are not important as the Americans (Hutrerd, 2004). Music Chinese have the music that they play. Some of this music have a certain meaning and have been played at different occasions by a certain age group. Music played over television set is likely to change the style of music that the Chinese are accustomed to and adopt the new system. The music that the media plays is another area that they advocate for crime to take places. Some of the movies are shot in posh places that the musicians portray as their places of residence and business. Most of this places are rented and thus if the viewer interpolates the movies without the knowledge of this, he may go ahead to commit a crime to live the status that was portrayed in the music. There are actually some stations that are all round music stations. You will hear the children trying to talk like the personalities in these music videos. Other than the crime part, there is immorality that some of the music may portray (Kilgrer, 2009). The dancers are portrayed as having a good life despite the fact that they are dancing when almost naked. Their dancing mode is that they encourage immorality in the society. Immorality is t he foundation of crime. Other music, especially those that are made in Jamaica (Reggae), advocate for the use of drugs. Some of them are for the opinion that taking bang is not a crime. If someone, more so a child interpolates the message in the wrong way, he can easily get in the vice. Young innocent children after watching the movies have been seen to try smoking something. The songs are also shot in a club setting and the most respected person is the one who can buy beers more to others; this enforces a bad behavior. In advertisements, the persons who are used in the adverts are the people that the society believes to be heroes, the media advertisements of things like beer uses these people (Peng and Guo, 2000). Politics Policies set in to facilitate globalization have an effect on Chinese politics; they have been portrayed through television sets. Both international and national politics are discussed over television which results in a change to the way people portray a certain issue. For example CNN involves its news with a number of international politics. It has some programs that are focused on African news, Europeans news, and American news. There have been perceptions that the Chinese people had on some of these countries that have changed as a result of news on Televisions on these countries. For example, there have been a negative perception about Americans but coverage of these places has changed the perception. This is because the country must comply with some set policies. Globalization has triumphed over the national boundaries such that any member nation of the international bodies can make demands to China, and China will be obliged to consent if the demands are of international interest. Failure to adhere the leadership of these international bodies can deliberate on the right course of action to take against China or any other nation that fails to conform to the established international requirements. Globalization has led to establishment of international laws that every nation is expected to obey. For example, the government of China was forced to pay for processing asylum seekers outside China under the United Nations High Commissioner for Refugees (UNHCR) rules. Without employing her local legislations, the nation had to act within the set laws as a member of UNHCR. Today, a criminal from a different country can be jailed in China if he/she contravenes the nation’s laws. Globalization has ensured that the political systems of different nationalities operate within the international laws (Randall, 2007). There are international agreements that the country is a signatory and has continued to affect its political decisions. An example of such agreement is Kyoto protocol that was ratified in Japan, on 11 December 1997 and aimed to be fully implemented by 16 February 2005 as one of the measures. It was developed by United Nations Framework Convention on Climate Change and ratified by 37 industrialized countries and European community. China was one of them. The protocol has affected the production methods that the country adopts since its ratification. Acker (2007) observes that politics of policy making in China have immensely changed to accommodate the global demands. Most of the laws that are continuously on the change are trade laws to accommodate international investments. Some of the trade rules are in relation to free market, the amendment of the Industrial Relations Act, Workplace Relation Act, and later the Work Choice Act (Reuvid and Li, 2005). Language The largest number of Chinese speaks and understands Chinese as their language. With increase in technology, there are a number of international television stations which broadcast in different languages like English and French. This move has made the Chinese to learn other languages. This is also facilitated further by international trade which is conducted in other language other than Chinese (Mitlez, 2004) Today in the world th ere has a large focus on trading with China. China is slowly portraying itself as the world economic driver; this means that each and every country, individuals and the companies are considering China as the trade partner, a thing that has a boost in the economy of the country. The fact that each country is willing to trade with it has set the country in the pace, now heading to be a political neutral country. As nations get more confident in the country, the more they will be willing to trade with China and thus the market stands to gain. This stands to have a positive effect on the business since we will not be depending on local market alone but the entire world. China has come up as a bargaining market where traders interact as an open market. As the world come to fetch for varieties, we will be one of those variety providers. An example is the African countries that have diverted their trading to China and killing the predominant markets of the west. This has been as a partners hip kind of trading where you will find contractors in Africa from china. The way the contracts are made is in such a way that there is a long relationship created. These relationships’ call for change in language and education systems, different languages are adopted to facilitate learning and understanding (Zheng, 2009). Education Televisions have enhanced sharing of information among countries. This has even been facilitated further by improved technology. Television sets are used to advertise various education systems in the world a move that have facilitated the Chinese to open their borders for more people to learn in the country and they have also moved to different countries for a different system. With globalization, Chinese can study in others country and vice-versa. The Chinese education system has evolved of late to cater for increased foreign students. With prestigious universities offering international courses, Chinese attracts many students from the aforementi oned countries who come with their social lifestyles and influence the local students to adopt their traits. The media is another tool of education that has developed with globalization; it has led to better informed students and scholars. Traditional â€Å"chalk† education system has been replaced by computer-based education. There is a great access to technology; teachers and students are increasingly using the internet and computers in their studies. This has been facilitated by globalization that has facilitated technological adoption (Martin, 2005). Conclusion The media has a very strong driving force to the perception and the attitude that the public is going to have. It has the potential of changing a culture adopted by a country. Chinese culture has been diluted and influenced to change to a global culture by programs and news that are portrayed in its national televisions and international televisions. It has been influenced in language, perception towards racism, no rms and values and the way they perceive issues. The influence can be negative or positive depending with the influence it creates. This is through the movies that they air as well as the news that they put a lot of weight to. If the media portrays something as morally good, or gives the impression that by following a certain way one will be successful, then the public is more likely to believe this as the truth. The way that it advocates for the occurrence of crime may be in a direct way or indirect way. It opens a child to the outside environment through the programs. In politics televisions air out policies set to facilitate globalization; this have an effect on Chinese politics. Both international and national politics are discussed over television which results in a change on the way people portray a certain issue. Reference List Denis-Fred, S. 2003. Technological Innovation in China: The Case of Shanghais Electronics Industry; New York, Detlef Rehn Fan, S. and Chan-kang. C. 20 05. Road development, economic growth, and poverty reduction in China Intel food policy. New York, Rest institute. Greenhalgh, S. and Asrhed, E.W. 2005. Governing China population. Stanford, Stanford university press. Gsene, M. 2002. China in the world market. Cambridge, Cambridge university press. Hutton, C. 2009. China is in crisis, not in ascendant. The observer. Sunday 12 June 2009. Hutrerd, R. 2004. Moving People, Goods and Information: The Cutting-Edge Infrastructures of Networked Cities. New York, Taylor Francis Inc. Kilgrer, J. 2009. Walking Dragon. New York, Times Press. Martin, W. 2005. Why Globalization Works. London, Yale University Press. Mitlez, S. 2004. Technology and culture. Michigan, Dearborn Peng, X, and Guo, Z., 2000. The changing population of China, family, sexuality and social relations in past times. California, Wiley-Blackwell. Randall, P., 2007. China Modernizes: threat to the West, or model for the rest? New York, Oxford University Press Reuvid, J. and Li , Y., 2005. Doing business with China. London, GMB Publishing Ltd. Zheng, Y., 2009. China opening society. London, Routledge.

Promotion of Duracell batteries in Kazakhstan

Promotion of Duracell batteries in Kazakhstan Free Online Research Papers The explosion in the use of portable devices and electronic products such as laptops, toys, audio devices, etc. has resulted in a rapidly increasing demand for portable energy sources. However, the market of primary (non-rechargeable) batteries has shrunk over the past decade. This project is about a proposed campaign for encouraging people to use more of the declining product, reminding them of the forgotten need, on the example of the current market leader Duracell brand by Procter Gamble. Primary batteries are most commonly used in portable devices, usually when you do not have the chance to res can be CD, MP3-players, portable TV-sets, toys taken with children to picnics, lamps, and cameras. Our idea is to take out people to places where they need to keep their devices going but do not have an option to re-charge, that means encouraging them to travel to the nature: mountain trips, bike trips far from home, picnics with family, beach trips etc. It has gone out of the habit since people became too busy with their job, not having time to devote to their spirit, health and fun shared together with close people. The campaign will be directed to re-create this trend for country trips. This will be achieved by telling people how attractive are places around Almaty and they shouldn’t miss the opportunity to enjoy the sights on weekends. Competitive Analysis There are 3 major consumer battery brands presented on Kazakhstani market: current market leader Duracell, its closest follower Energizer, and niche player Varta, as well as many other less popular brands. Duracell is widely recognized, top of mind awareness brand. Most of our respondents named Duracell when it was asked to name any consumer battery brand that comes into their mind first. There is also recall connected to Duracell’s advertising, people easily recognize the symbol of Duracell – the famous pink bunny. It is also a market leader because it is available at points of sales, which is very important for low-involvement goods. Duracell batteries can be found in all sizes in most supermarkets, unlike its main competitor Energizer. Slogan of Duracell is â€Å"Trusted everywhere† suggesting that Duracell batteries make all devices work when needed and the range of Duracell application. The previous slogan was â€Å"No battery is stronger longer† pointing at longer life of the batteries. Generally all the bunny-related ads where directed to express the main message of longevity of work, this is the key benefit of Duracell. Energizer’s current slogan â€Å"Keep going† and former slogan Nothing outlasts the Energizer also emphasizes long working hours of the batteries. However, in its advertising campaigns Energizer has stressed high energy of the batteries making it the key benefit of the brand. â€Å"You’re smarter to fit Varta!† says the slogan of our last competitor. Varta uses ESP suggesting that it’s a battery by experts, something more â€Å"professional†. All the three brands share a common POP which is high quality and reliability. Duracell has to follow defensive strategy and increase its share of voice to maintain its leading position on the market. Target Market Analysis Generally, target market for alkaline batteries is both deep and wide. But it is even more. Almost every person is a potential customer for this type of batteries. In this case even segmentation is quite complicated. But it is necessary for creating marketing strategy, so we have to point out several biggest consumer groups. The first is households. Women between 25-50 age old, they keep their houses in order and use batteries for devices we use everyday such as clocks. The second and third groups we want to mention are teenagers and men. These customers differ in the age group, but are same in the purpose of consumption. They use alkaline batteries for high-tech devices. But now this market, that once has been extremely big and profitable, now rapidly decreases. It is concerned with technical progress. Now producers of high-tech devices use other types of batteries, usually rechargeable and often produced by these companies itself. Duracell uses differentiated market coverage. Different products of Duracell brand are targeted to different segments. regular and high-drain segments of the consumer battery market Duracell Copperhead covers broader market, including the general population who need longer-working batteries for majority of devices. Duracell Ultra is designed to fit more energy requiring devices, and therefore the target group is typically younger males. Communication objectives First of all we should define Target Audience. Duracell has different types of battery. The most needed types are AA and AAA series. Significant part of battery users is young generation that listen music by CD of MP3 players. This age starts from 14 years old till 25 even 30 years. Gender difference is doesn’t matter because everybody like music according his or her preference. Duracell is the top mind awareness brand on the World and Kazakhstan battery market. The competitors are: Energizer, Varta and Victory (Chinese battery). This industry is in the decline stage because of increasing use of rechargeable and integral batteries in devices like photo mobile phones, cameras, and players. Also, consumers are getting used to rechargeable batteries while they use laptops and phones, and bring this habit to their MP3 players and cameras. The main goal of Duracell is to raise knowledge, since awareness is already at hand. Battery is daily used, low involvement product. So this product requires product recognition at purchasing place. More products will be recognized better off the company. Because it is a low-involvement good stress should be put on the emotional rather than rational benefit from using the brand. Duracell should use following communication tools: Point-of-purchase promotion TV advertising Printed media in thematically related magazines (e.g. about technology) PR and sponsorship Internet Advertising On Kazakhstani market today Duracell is a stable leader with competitors falling behind dramatically. As it was mentioned before there is already well-established brand awareness, therefore all communication objectives should be supportive, only to maintain the image of the brand and keep it’s recall and recognition level high. 3.0 MARKETING COMMUNICATIONS PLAN 3.1 On a market where Duracell brand is well established it is important to retain its market position. At the same time, Duracell can encourage people to use more batteries by promoting our new campaign, through communication tools. The objective is to increase profit by 15% during in FY 2008. Marketing communications objectives So far Duracell has covered all the levels of the DAGMAR model: category need, awareness, knowledge, attitude, purchase intention, facilitation, purchase, satisfaction and loyalty. It has been a trusted leader for a long time. However, as we detected the market still can be penetrated by returning to the first level and developing category need more. The mission of the campaign is to get consumers to use more primary batteries by encouraging them to take part in activities such as traveling, hiking and camping. Our goal is to remind people of the forgotten use of the batteries – whenever you go outside (to the mountains, the beach, forest) you need non-rechargeable batteries vitally to keep all your devices going. 3.3 Positioning Duracell’s positioning is as clear and simple as the product category requires: long life of the batteries. 3.4 Creative and Message Strategy Key message: Duracell serves longer than any other battery and therefore can be trusted whatever direction you go. Slogan: Trusted everywhere Key visual: Emotional appeal should be used in Duracell ads, primarily to attract attention and be liked. 3.5 Marketing Communications Mix PR should be used primarily for the new strategy. 3.6 Media Strategy: Pulsing strategy 3.7 Media schedule (with calculations of effectiveness) (10points) Schedule should include all your tools of communication on all channels of com-on with distribution over the year, month, week and day period. 3.8 Budget (approach, actual calculations) Research Papers on Promotion of Duracell batteries in KazakhstanMarketing of Lifeboy Soap A Unilever ProductAnalysis of Ebay Expanding into AsiaBionic Assembly System: A New Concept of SelfHip-Hop is ArtOpen Architechture a white paperPETSTEL analysis of IndiaInfluences of Socio-Economic Status of Married MalesDefinition of Export QuotasAnalysis Of A Cosmetics AdvertisementThe Project Managment Office System

John Lockes Natural Rights in The Second Treatise of Government Essay

John Lockes Natural Rights in The Second Treatise of Government - Essay Example â€Å"Locke developed central devices for political theory †¦a theory of natural law† (Bailey 2008, p. 252). The state of nature,  to which Locke refers, describes two things: the condition of mankind before the establishment of civil government and the condition of mankind before the introduction of formal legislation to ensure societal order. Locke deduces that since laws governs nature, and God ordains laws where man is subject to the Divine then the laws govern mankind. It must be noted that since these rights exist outside of the body politic or civil society; they are natural or inherent to man’s being. These rights are inalienable and are equally applied. Forming the basis of the penal system, the justice system, the welfare system, the military system, the economy and the government as a whole, these rights comprise the foundation for both individual and society at large. In the natural state, the rights of man are equal and evenly distributed to all huma nity’s members. Sovereignty cannot be invested in a singular individual where all are made equal. In his treatise, Locke insists on â€Å"equality of men by nature†¦as so evident in itself, and beyond all question† (Locke 1980). Locke declares his stand for the equality of the rights of all men, and their sameness before the law and before God. Locke drafts this document to stress the implications of equality for society. In the day of Locke, men are grappling with rife, social inequalities which lead to disgruntled lower classes and corrupt upper classes. Factors are forwarded to justify superiority of one class and the inferiority of another. The principles of the right to equality are rooted in the acknowledgement that all men are naturally created equal, and abide in â€Å"a state also of equality, wherein all the power and jurisdiction is reciprocal, no one having more than another; there being nothing more evident, than that creatures of the same species an d rank† (Locke 1980). Man is a rational being equipped with mental capacities, moral virtue, feelings, impulses or physical make-up. Hence Locke endorses the view of unbiased, impartial, and equal treatment of all. The respect of the right to equality would avert discrimination, social class (elitism), and exclusion. These egalitarian views are drafted in the treatise to regulate more equal consideration and distribution of power among all people. (Bailey 2008, p. 78) comments that â€Å"the role of equal rights in Locke is precisely to ensure that the only permissible departures from the state of nature are those that respect these rights.† The mere fact that one has been integrated into the human race is entitlement to equality and dignity. The understanding that all men are equal is also predicated on the premise that there are no natural claims of superiority, and one may not act at will in the exercise of government. All men are naturally and legitimately a part of the society and must be regarded as a full member. Each man also must exercise his natural right to survival based on the principles of The Second Treatise of Government. Locke states that, â€Å"being once born, (men) have a right to their preservation, and consequently to meat and drink, and such other things as nature affords for their subsistence† (Locke 1980). As such he deserves to gain access those things which would facilitate survival such as food, clothing and shelter. Here, Locke discusses man’s fundamental physiological needs as pointed out in Maslow’s pyramid of needs. Life is a precious gift and so man has the ability to protect and preserve his life. Without due attention to

Personal Competency Assessment for Risk Management Specialist Statement

Competency Assessment for Risk Management Specialist - Personal Statement Example Production of presentations and reports that give details of research findings, explanations of risk position or changes recommended are significant areas of knowledge that improve my effectiveness and performance. Additionally, extensive knowledge of research facilitates me to conduct statistical analysis aimed at quantifying risks by use of statistical models or software. Knowledge of risk management has impacted me with skills and abilities to identify and analyze areas of potential risk to the assets, earning capacity, or success of organizations. Subsequently, the knowledge has been instrumental in developing/implementing risk assessment methodologies/models. It has facilitated me in the development of contingency plans to handle emergencies. Additionally, a wide base of knowledge has increased my efficiency in developing a scenario analysis that determines the impact on risk exposure. Moreover, I have familiarized myself with documentation and communication aspect of risk management. Through documentation, I have gained efficiency in storing an important document in an orderly and easily retrievable manner. On the other hand, proper communication skills knowledge has made me indispensable while dealing with clients. For example, I am able to interact with clients and obtain key information in regard to risks. Furthermore, I am able to communicate risks to clients through oral, reports or presentation to the client and the managers. Additionally, I have the ability to deal with client queries and solve their problems satisfactorily. Definition: Skills: Active listening  Ã¢â‚¬â€ Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.

All Ideas Derive from the Sense Experience Which They Copy. Discuss Essay Example for Free

All Ideas Derive from the Sense Experience Which They Copy. Discuss Essay All ideas derive from the sense experience which they copy. DISCUSS An empiricist would be in favour of this view as they believe that knowledge is gained through experience (a posterior). For example, John Locke believes that the mind is a blank slate, or tabula rasa, which becomes populated with ideas through sense experience – in order to create ideas and knowledge, we must have sense experiences. Hume, also an empiricist, argues that ideas are copies of sense data. He has a method which states that faint ideas can become stronger through a fresh sense experience – thus implying that all ideas do derive from the sense experience which they copy. He further backs up this idea through his negative view on the imagination, which in his words is â€Å"confined within very narrow limits†. His strong stance states that no idea can be constructed without any sense experience -anything that may seem like an idea built without sense-data is simply a combination of other ideas. I can give the example of a Golden Mountain. Such a thing can never be experienced, but we can have an experience of â€Å"gold† similarly to the fact that we can also experience a â€Å"mountain†, and through these separate ideas we can construct a singular hybrid idea. Hume also talks of the concept of ‘a time when nothing happens’. The concept is easily fathomable in the human mind and seems logical. He argues that, although no sense experience was required to have an idea of this concept, such a time is actually impossible to experience thus dismissing this illusive idea as something he refers to as ‘sophistry and illusion’. A huge criticism of the Empiricist view is the fact that we only experience sense-data rather than the world itself. This is best explained through the idea of Noumena/Phenomena, in which the phenomena is our perception of the world and the noumena is the actual world itself. The only way to experience the noumena would be through a sense experience – however this experience would simply be another phenomena, thus implying that experiencing the real world is impossible. If such a thing is impossible and if all knowledge is built on things that we cannot truly reach, then how can it be possible to back up the Empiricist view that all ideas derive from sense experience? However, an Empiricist might respond with the claim that it is probably highly unlikely that we are perceiving something completely different to the noumena. Both claims have no proof and can therefore only be as unlikely or likely as each other. Descartes discussed the possibility of an ‘Evil Demon’ who could be tricking us into believing that we exist when really we do not. However, as a religious man, he concludes that God would not let this happen. Therefore, as the argument is similar, Descartes might argue that it is highly unlikely that we are perceiving completely different to the noumena as God, who wouldn’t let us be tricked by an evil demon, would not let such a thing happen. A philosopher who might argue against the Empiricist view is Wittgenstein. He argues that â€Å"experience does not direct us to derive anything from experience†. He says that learning something cannot be done on sense experience alone – it also requires teaching or applying reason to. Plato may also back up the Rationalist view that not all ideas derive from the sense experience which they copy, as he believes that some ideas are innate, such as mathematical and logical truths. An example of this can be taken from his dialogue ‘Meno’ in which Socrates encourages an uneducated slave boy to work out a mathematical truth relating to the lengths of sides of squares. The boy can successfully solve the problem without any prior knowledge of mathematics – thus proving that such knowledge is innate and only requires thought to solve. Descartes also argues against the empiricist view that all knowledge is built from sense experience – he argues that reason must also be applied to gain knowledge. This can be explained through an example in which he states the idea of a solid piece of wax. The solid wax is accidentally left to melt by the fire and become liquid. If we were to build ideas solely on sense experience, we might think that the solid wax and melted wax were TWO separate ideas. However, by applying reason we can deduce that the two forms are in fact the same thing. This idea could be opposed with the argument that if one had never experienced the melting of wax, or been taught the facts of materials changing state, then they would in fact not be able to apply such reason. In summary of all points made in this essay, we can conclude that Empiricists such as Locke and Hume would argue in favour of the claim that all ideas derive from sense experience, and that Rationalists, e.g. Descartes and Wittgenstein, would argue in opposition. This is due to a variety of beliefs but mainly due to the foundations of Empiricism (a posteriori knowledge) and Rationalism (a priori knowledge). Personally, although I believe that most knowledge is built mainly from sense experience, I sway to the Rationalist’s side as I agree that knowledge must be taught or applied reason to – however, I’m not entirely convinced by the idea of innate knowledge such as the kind Plato suggests.

Impact of Mass Media on Individuals, Society, and Culture Essay

Impact of Mass Media on Individuals, Society, and Culture Mass media, over the years, has had a profound effect on American society, on its culture, and on the individuals exposed to the media. Mass media is a form of socialization, having a long-term effect on each member of American society. While mass media targets the individual in short-term intervals, the overall influence on them has been established as the consumer moves from one impressionable age category to another. The long or short- term effects of mass media are separate and distinct when its role in America is evaluated. Mass media effects people differently because of varied amounts of exposure and formats. Mass media has a socialization function in American society, in the culture, and on individuals. Mass media has played a role of socialization in our society over the years: Socialization is a long-term process that every human being undergoes as he or she becomes a functioning member of society. Socialization refers to the internalizing of all of the lessons from many sources concerning ways of behaving that are approved or expected by society, as individuals mature through every stage in the life cycle (DeFleur and Dennis, 582). Mass media educates its customers on how to think and to act, as they are conditioned to what the media portrays as suitable responses and behavior to experiences in American life. This long- term process is established over the years as media influences the impressionable age groups, as they are gradually exposed to distinct messages of mass media. These distinct age consumer groups are targeted by mass media, and while the effects of mass media are short-term, the subtle impression is long-term. The effect on American s... ...mmunity and friends have become more concerned of their own pursuits of happiness and security. Most people perceive mass media as quite negative, cynical, and unimportant for everyday life’s survival. The media reveals the degradation of society, our government, our politicians, and our celebrities. American culture is now filled with images of drugs, violence, and sex. Works Cited Anderson, Charles. Personal Interview. 3 November 1996. DeFleur, Melvin L. and Everette E. Dennis. Understanding Mass Communication. Boston: Houghton Mifflin Company, 1996. Denger, Stuart. Personal Interview. 3 November 1996. Hummon, David. Geographical Reviews: Commonplaces: Community Ideology and Identity in American Culture. Geographical Review. July 1991: 363-365. Swidler, Ann. â€Å"Inequality and American Culture† American Behavioral Scientist March 1992: 606- 629. Impact of Mass Media on Individuals, Society, and Culture Essay Impact of Mass Media on Individuals, Society, and Culture Mass media, over the years, has had a profound effect on American society, on its culture, and on the individuals exposed to the media. Mass media is a form of socialization, having a long-term effect on each member of American society. While mass media targets the individual in short-term intervals, the overall influence on them has been established as the consumer moves from one impressionable age category to another. The long or short- term effects of mass media are separate and distinct when its role in America is evaluated. Mass media effects people differently because of varied amounts of exposure and formats. Mass media has a socialization function in American society, in the culture, and on individuals. Mass media has played a role of socialization in our society over the years: Socialization is a long-term process that every human being undergoes as he or she becomes a functioning member of society. Socialization refers to the internalizing of all of the lessons from many sources concerning ways of behaving that are approved or expected by society, as individuals mature through every stage in the life cycle (DeFleur and Dennis, 582). Mass media educates its customers on how to think and to act, as they are conditioned to what the media portrays as suitable responses and behavior to experiences in American life. This long- term process is established over the years as media influences the impressionable age groups, as they are gradually exposed to distinct messages of mass media. These distinct age consumer groups are targeted by mass media, and while the effects of mass media are short-term, the subtle impression is long-term. The effect on American s... ...mmunity and friends have become more concerned of their own pursuits of happiness and security. Most people perceive mass media as quite negative, cynical, and unimportant for everyday life’s survival. The media reveals the degradation of society, our government, our politicians, and our celebrities. American culture is now filled with images of drugs, violence, and sex. Works Cited Anderson, Charles. Personal Interview. 3 November 1996. DeFleur, Melvin L. and Everette E. Dennis. Understanding Mass Communication. Boston: Houghton Mifflin Company, 1996. Denger, Stuart. Personal Interview. 3 November 1996. Hummon, David. Geographical Reviews: Commonplaces: Community Ideology and Identity in American Culture. Geographical Review. July 1991: 363-365. Swidler, Ann. â€Å"Inequality and American Culture† American Behavioral Scientist March 1992: 606- 629.

Hector Hugh Munro †Tea Analysis Essay

The text under analysis is written by Hector Hugh Munro, better known by the pen name Saki, was a British writer, whose witty and sometimes macabre[] stories satirized Edwardian [] society and culture. He is considered to be a master of the short story and is often compared to O. Henry and Dorothy Parker. In this story we learn about a young man James Cushat-Prinkly. He decides to marry and his relatives approve this idea. They find marriageable girl named Joan Sebastable. However, he marries another girl, whose name is Rhoda Ellam. The text is written in 3rd person narration. There are both types of sentences – simple and composite. Composite are used to show that the story is about people from high society. And shorts are used when the main character`s thoughts are described. The main character in this story is James Cushat-Prinkly. He is described indirectly as we know what kind of person he is through his behavior and through his thoughts. He does things as a person of his society should do. So, he thinks that he should marry but he is not so interested in it. We can see his point at it here: â€Å"James Cushat-Prinkly was a young man who had always had a settled conviction that one of these days he would marry; up to the age of thirty-four he had done nothing to justify that conviction.† He liked women but â€Å"without singling out†. His lack of initiative shows us that he doesn`t really want to marry. His relatives really worry for this situation: â€Å"His lack of initiative in this matter aroused a certain amount of impatience among the sentimentally-minded women-folk of his home circle†. His mother, sisters and others are presented as a collective body that is not satisfied by this state. The author calls James`s delay dilatory approach which is a very subtle irony. â€Å"Married state† is one more interesting thing. Munro calls marriage as â€Å"married state† using periphrasis to show that it was very delicate business for all of them. It is said that all his sisters and aunts regarded his approac h â€Å"with a disapproval that was far from being inarticulate†. This is a litotes that creates an understatement. It identify them as people from high society that`s why bookish words are used. The following part of the sentence: â€Å"His most innocent flirtations were watched with the straining eagerness† proves us that even his sisters were much more interested in his marriage. The author describes his sisters with the help of words: â€Å"walk-beseeching dog-eyes†. He compares women with dogs who are very loyal and love their masters very much. With the help of metaphor Munro  displays women`s position in the society. â€Å"Decent-souled† is an epithet that is employed to describe a noble person from high society. The author uses periphrasis again by calling James mortal. It creates the atmosphere of the high society again. The whole phrase â€Å"pleading of several pairs of walk-beseeching dog-eyes† is a good example of periphrasis. The choice of words shows social order and conviction of people of that time. â €Å"Enamoured of some nice marriageable girl† is one more periphrasis for marriage. This word is avoided through the whole story as the characters really afraid to call it so. In this part of sentence: â€Å"When his Uncle Jules departed this life† departed his life is an euphemism. The characters avoid even saying the word â€Å"marriage† so they don`t pronounce such words like â€Å"dead† or â€Å"death†. They avoid them too. â€Å"Comfortable little legacy† is an epithet depicting us that he got rather good heritage but they talk about it in a modest way. â€Å"Discovering someone to share it with him† – it is one more periphrasis for marriage. Also here we see reasoning of marriage – if someone has money why not to marry? In the next sentence we come across morphological repetition: â€Å"The process of discovery was carried† to accentuate again avoiding the word â€Å"marriage†. We can notice that he plays passive role in this situation: â€Å"The process of discovery was carried on more by the force of suggestion and the weight of public opinion than by any initiative of his own†. He just goes with the streams. â€Å"The weight of public opinion† which is a metonymy shows again th at he hasn`t got any initiative. â€Å"A clear working majority† is a periphrasis too that shows us that even he is grown up he still can`t take the decisions. After the future wife for James was chosen, marriage is started to be called so – â€Å"to whom he might propose marriage†. It means that there are no excuses for avoiding it as the choice is already taken. James is really afraid of ordinary way of life. We can see it here: â€Å"the prescribed stages of congratulations, present-receiving, Norwegian or Mediterranean hotels, and eventual domesticity.† It is the chronological order for life stages and he doesn`t like it at all. â€Å"It was necessary however to ask the lady what she thought about the matter† – through irony the author shows us that the question of marriage for James was like some business and also it seemed to him to be the solved problem. â€Å"Individual effort† which is a metonymy accentuate one more time on his lack of initiative. It says tha t now he has to do  something. â€Å"As the thing was going to be done he was glad to feel that he was going to get it settled and off his mind that afternoon.† Again we come across periphrasis. Now thing means proposal. However, later he calls it by its name because submits it – â€Å"Proposing marriage, even to a nice girl like Joan, was a rather irksome business†. He calls marriage and proposing it irksome business so he has some business-like attitude to it. The usage of the word â€Å"preliminary† proves his attitude as it refers to the business semantic field. Also while he was going to his future wife he thinks not about proposal – â€Å"He wondered what Minorca was really like as a place to stop in; in his mind’s eye it was an island in perpetual half-mourning, with black or white Minorca hens running all over it.† It one more time shows that he is not interested in proposal at all. While he was thinking about that island â€Å"His Mediterranean musings were interrupted by the sound of a clock striking the half-hour.† His thoughts are called musings. The choice of bookish word is explained by his belonging to high society. We see the next very short sentence: â€Å"Half past four†. It is a detachment, elliptical sentence to show that the time for proposal is coming. That moment he felt unhappy: â€Å"A frown of dissatisfaction settled on his face.† It proves one more time how much he is not interested in that marriage. He imagines ho he would come to her place. Even now he doesn`t imagine the girl he thinks about place: â€Å"He would arrive at the Sebastable mansion just at the hour of afternoon tea†. He compares her voice with sound of cups: â€Å"her voice would tinkle pleasantly†. The word tinkle is used only when we are talking about things but not people. Here it is used to show that all this tea ceremony was senseless for James. He is mad because of that typical for such occasions questions like: â€Å"Is it one lump? I forgot. You do take milk, don’t you? Would you like some more hot water, if it’s too strong?†The next paragraph opens with gradation: â€Å"Cushat-Prinkly had read of such things in scores of novels, and hundreds of actual experiences had told him that they were true to life.† It is kind of hopelessness. â€Å"solemn afternoon hour† which is epithet makes the same effect. He calls question of women little. However, for him those questions are senseless. He would prefer women sitting on divan. Divan – is Turkish borrowing. For him if is some kind of symbol of freedom from these ceremonies. â€Å"Now, as he passed through a tangle of small streets that led indirectly to the elegant Mayfair terrace for  which he was bound, a horror at the idea of confronting Joan Sebastable at her tea-table seized on him†. In this sentence we can see that he doesn`t see distinct aim – â€Å"tangle of small streets†. It is a metaphor. Also he thinks about place not about the woman whom he is going to meet there. We see it when he pay attention to it – elegant Mayfair. The ceremony scares him so much: â€Å"a horror at the idea of confronting Joan Sebastable at her tea-table seized on him†. The horror is metonymy here. However he got deliverance and he comes to Rhoda, to his remote cousin. He looks at her only from the business-like side. She doesn`t ask him a lot of questions about his tea and he pays attention on that contrast between her and other women: â€Å"She made no other allusion to food, but talked amusingly and made her visitor talk amusingly too.† The repetition of the word â€Å"amusingly† accentuate this contrast. â€Å"Cushat-Prinkly found that he was enjoying an excellent tea without having to answer as many questions about it as a Minister for Agriculture might be called on to reply to during an outbreak of cattle plague†. He compares these questions with questions to a Minister. So simile here show that he doesn`t want to answer them. Finally, he marries Rhoda. And we see that everything ends with tea ceremony again – There was a pleasant tinkling note in her voice as she handed him a cup. â€Å"You like it weaker than that, don’t you? Shall I put some more hot water to it? No?† Climax in this story can be observed in the part when his sisters accept his cho ice. The message of the story is in the desire of James to lead another life not ordinary one. It makes us think about life itself, about the definition of happiness. It is some kind of image of happiness in society but the author makes us think that maybe we shouldn`t be the same as other. The story made me smiling and sad at the same moment. Smiling as it finishes a little bit ironically. He finally gets right that situation that he was afraid of. However, it also makes me sad as I begin to think about things that are told to make us happy but actually don`t. All the people are different and everyone need to find something suiting especially to him or to her.

Investment Management

24/02/2013 1 25721 INVESTMENT MANAGEMENT Lecturers: Sean Anthonisz Nadima El-Hassan Jianxin Wang Brandon Zhu Subject Coordinator: Jianxin Wang Objectives 2 ? ? ? ? Why do you take this subject? What do you expect to learn? How much did you pay for this subject? Is this a good investment? Investment Decisions 3 ? ? How much should I invest in risky assets? How much should I invest in different risky assets? ? ? How many risky assets should I hold? When not to diversify? ? How to determine mispricing? Fair value today? Expected return next year? ? How well do asset pricing models work? ? ? 1 24/02/2013Investment Decisions 4 ? Passive versus active investing ? ? Is market efficient? Why not? What does it take to beat the market? How to hedge and how much to hedge? Derivative pricing Trading cost, liquidity, private information ? How should I manage risk? ? ? ? How should I trade? ? ? Sources of my performance? What Do We Learn in This Subject? 5 ? ? ? ? A theoretical framework for portf olio construction. A theoretical framework for the pricing of equities and bonds. Some practical applications of asset pricing models and portfolio analysis. Issues relating to market efficiency and investor behaviour.Course Structure 6 Funds Management Information Portfolio Theory Risk and Return Markets and Investing CAPM Factor Models & APT Options Fixed Income Equities Futures 2 24/02/2013 Investment Electives 7 ? ? ? ? ? ? 25705 Financial Modelling and Forecasting 25728 Bond Portfolio Management 25729 Applied Portfolio Management 24731 International Finance 25762 Synthetic Financial Products A whole range of subjects for Quant Fin majors: technical analysis, numerical analysis, fin econometrics, stat methods, derivative pricing, interest rate modelling. Prerequisite 8 ? ? 25742 Financial Management Basic math and statisticsBasic calculus and optimization Probability and distributions ? Mean, variance, standard deviation, covariance ? Linear regression by ordinary least square ( OLS) ? ? ? Read the online Quantitative Review ? A very brief review next week What Is Expected – in class 9 ? Lectures are primarily aimed at Identifying and explaining key concepts and issues Highlighting the links to practice ? Completing selected problems from text ? ? ? Questions are encouraged and rewarded. ? Discussion is better than lecture Mutual respect and encouragement; Potential problems: repeated late arrivals, chatting during lecture, academic honesty Code of behavior ? ? 3 24/02/2013 What Is Expected – outside class 10 ? Address some details within the course reading materials. ? Group study is more effective ? ? Workload is about 7-8 hours per week on average (albeit uneven), including course readings, practices, and assignments. Multiple learning channels: ? ? Multiple levels of learning: ? Web-based learning support Lecture material, textbook, and Excel sheets Approach to Learning 11 ? ? ? Read relevant chapters prior to lectures Attempt to identify and understand the key messages: Concepts? Issues? Connections?Ask questions during lecture. ? You paid $$$ for the opportunity ? ? Think & reflect; don’t just summarize & memorize. Practice using back-of-chapter questions. Approach to Learning — I listen and I forget; I see and I remember; I do and I understand. —Xun Zi Just Do It! —Nike 12 4 24/02/2013 Textbook and Readings 13 ? Bodie, Kane, Marcus, Investments, 9th Ed, McGraw-Hill/Irwin, 2011. ? You take full responsibility if using an earlier edition. ? ? ? ? Harvard Business School case study 9202-024 â€Å"Strategic Capital Management†. R.A. Haugen, Modern Investment Theory, 5th Ed, Pearson Higher Education, 2001. J. H. Cochrane, 2006, Investments Notes. Other fun books on financial markets. Assessments 14 ? Weekly online quizzes: 10 marks ? ? ? ? ? 15 MC questions in 1 hour Unlimited tries with the best mark kept Monday morning to next Wednesday midnight Once closed, quizzes cannot be re opened Best 10 marks for the semester Group-based case report Online group registration Report due 5pm Friday March 29 Late submissions carry point deduction ? Case study in lecture 6: 10 marks ? ? ? ? Assessments 15 ?Mid-session exam: 40 marks ? ? ? ? Cover lectures 1 – 6, including the case study Multiple-choice (20 marks) Short-answer questions (20 marks) No formula sheet Cover lectures 7 – 13, excluding lecture 8 Multiple-choice (20 marks) Short-answer questions (20 marks) A short list of formulas will be identified and provided during the final exam. ? Final exam: 40 marks ? ? ? ? 5 24/02/2013 Online Group Registration 16 ? ? ? ? ? ? Log in the online course website Click on â€Å"Groups† in the left panel Group names contain â€Å"1m†, â€Å"2m†, â€Å"3m†, â€Å"4m†, indicating max members = 1, 2, 3, 4, respectively.The first member is the group leader. Registration closes after 5pm on March 10. Changing group only in the most extreme circumstances. What’s Required? 17 ? ? ? Materials covered in the chapters listed in the lecture program, except certain subsections are explicitly excluded. The midsession and the final exams will focus on materials covered during lectures, with at most 3-4 multiple-choice questions in each exam on materials not covered in lectures. Materials not covered in lectures will be heavily featured in the online quizzes. Administrative Issues 8 ? Name sign: â€Å"Open† for the business of learning ? Take it out at the start of every lecture It’s good to make the lecturer know your name ? Come to consultation hours ? ? ? Other times by appointment Email for straightforward questions Complex questions are best answered through interactive discussion ? Emails will be answered before or during the next consultation hours ? 6 24/02/2013 Learning Support – Postgraduate ? ? ? ? ? Need help with your postgraduate studies at UTS Business School? Are you new to un iversity / postgraduate education?Not sure to how develop your academic skills in writing, reading, critical thinking etc.? Not sure how to complete assignments or achieve your best? Ask for help from the Learning Support Coordinator ? ? ? ? ? ? Make appointments for confidential individual help Lots of ‘online study resources’ to recommend / hardcopy study resources to share Attend the Study Skills Workshops all semester / or download them / Help by email / phone support / Email: [email  protected] edu. au www:http://www. business. uts. edu. au/teaching/student/resources/studen t-learning. tml Join us on facebook UTSBlearningsupport ? Asset Classes 20 ? ? ? ? ? ? The money market The bond market The equity market The real estate market Currency markets Derivative markets ? Financial and commodities ? Others? Trading Platforms 21 ? Organized exchanges Dealership markets Auction markets ? Electronic trading ? ? ? ? OTC – NASDAQ Alternative trading systems (ATS) ? ECNs, dark pools, internal crossings. ? Algorithm/high frequency trading 7 24/02/2013 High Frequency Trading 22 ? Menkveld (2011): a HFTer on Chi-X Dutch stocks from Jan 2007 to June 2008 Trades 1400 times per stock per day ?Gross profit per trade â‚ ¬0. 88 ? ? ? ? ? â‚ ¬1. 55 profit on the spread net of fees â‚ ¬0. 45 profit on positions < 5 seconds â‚ ¬1. 13 loss on positions >= 5 seconds Max capital committed ? â‚ ¬2 million per stock ? Implied annualized Sharpe ratio = 9. 35! ? ? Sharpe ratio for S&P500 over the period = -0. 16 ? Chi-X is in Australia. Costs of Trading 23 ? Commission: fee paid to broker for making the transaction ? Exchange members/subscribers? ? Spread: Bid and ask prices Spread: ask – bid ? P89, #14 ? Market versus limit orders ? ? ? Price impact of large tradesStock Margin Trading 24 ? ? ? ? Borrow (from brokers) to purchase shares Initial margin Maintenance margin – minimum level the equity margin can be Margin call ? Call for more equity funds ? Margin arrangements differ for stocks and derivatives 8 24/02/2013 Margin Trading – Initial Conditions 25 ? ? ? ? ? X Corp: P = $70 Initial Margin = 50% Maintenance Margin = 40% 1000 Shares Purchased Initial Position: Stock $70,000 Borrowed Equity $35,000 $35,000 Maintenance Margin 26 ? ? Stock price falls to $60 per share New Position ? $60,000=$35,000(Borrowed) + 25,000(Equity) ? Margin = $25,000/$60,000 = 41. 67% How far can the price fall before a margin call? ? ? (1000P – $35,000) / 1000P = 40% P = $58. 33 ? P88, #9 Short Sale 27 ? ? Purpose: Profit from a price fall Mechanics Borrow stock through a dealer/broker Sell it and deposit proceeds and margin in an account ? Any dividend is passed back to the lender ? Closing out the position ? ? ? ? Buy back the stock and return it to the lender Profits can be deposited into your own account ? Naked versus covered short sale 9 24/02/2013 Short Sale – Initial Conditions 28Z Corp Initial Margin Maintenance Margin Initial Price Sale Proceeds Margin Account Balance 100 Shares 50% 30% $100 $10,000 $ 5,000 $15,000 Short Sale – Maintenance Margin 29 ? Stock Price Rises to $110 Stock owed Net equity ? Margin % (4000/11000) ? ? $11,000 $ 4,000 36% ? ? How much can the stock price rise before a margin call? ($15,000 – 100P) / (100P) = 30% P = $115. 38 P89, #12 Summary 30 ? Course introduction and requirements ? Think, reflect, and participate ? ? Financial markets and assets Trading of financial assets Trading platforms Transaction costs ? Margin trading and short selling ? ? 10 Investment Management UNIVERSITY OF TEXAS AT DALLAS SCHOOL OF MANAGEMENT FIN6310: INVESTMENT MANAGEMENT SOLUTIONS TO PROBLEM SET #1 PROF. ARZU OZOGUZ SPRING 2013 1. Calculate the value of the following two bonds. Assume that coupon payments are made semi-annually and that par value is $1,000 for both bonds. Coupon rate Time to maturity Yield-to-maturity Bond A 5% 5 yrs 7. 2% Bond B 5% 25 yrs 7. 2% Recalculate the bonds’ values if the yield to maturity changes to 9. 4%. Which bond is more sensitive to the changes in the yield? Will this always be the case? When the yield-to-maturity is 7. %, the bond prices are, respectively, 1 1 1. 036 0. 036 1 1. 036 0. 036 1 1. 047 0. 047 1 1. 047 0. 047 25 1000 1. 036 1000 1. 036 908. 98 1 25 746. 58 When the yield-to-maturity is 9. 4%, the bond prices are, respectively, 1 25 1000 1. 036 1000 1. 047 827. 62 1 25 579. 01 Price of bond A decreases by 8. 95%, while price of bond B drops by 22. 45%. The longer term bond is more sensitive to a given change in the dis count rate. This will always be the case. Mathematically, there are more terms in the equation for the longer-term bond that are influenced by the discount rate.Practically speaking, your money is tied up longer with a longer term bond and so you will experience greater capital losses and gains when interest rates change. 2. A bond with a coupon rate of 4. 7% is priced to yield 6. 30%. Coupon is paid is semi-annually; the par value is $1,000. The bond has 5 years remaining until maturity. Assuming that market rates stay the same over the next five years, calculate the value of the bond at the beginning of each year and the amount of change in the bond’s value from year to year. Describe the behavior of the bond’s value over time.At t = 0, at issue the price will be 1 1 1. 0315 0. 0315 1 1. 0315 0. 0315 1 1. 0315 0. 0315 1 1. 0315 0. 0315 1 1. 0315 0. 0315 23. 5 1000 1. 0315 932. 28 At the end of year 1, the price becomes 1 23. 5 1000 1. 0315 1000 1. 0315 1000 1. 0315 1 000 1. 0315 944. 20 1 23. 5 956. 88 1 23. 5 970. 37 1 23. 5 1000 984. 73 The price change from year to year is ? ? ? ? ? 11. 92 12. 68 13. 49 14. 36 15. 27 The bond is selling at a discount today; its price will rise to move toward par value at maturity. The change in price increases as it gets closer to maturity. 3.Suppose that you purchased a 20-year bond that pays an annual coupon of $40 and is selling at par. Calculate the one –year holding period return for each of these three cases. a. The yield-to-maturity is 5. 5% one year from now. If the yield-to-maturity is 5. 5% one year from now, the bond will be selling for 1 1 1000 1. 055 40 825. 89 1. 055 0. 055 Hence, the holding-period-return (HPR) is: 825. 89 40 1000 13. 41% 1000 b. The yield-to-maturity is the same one year from today as it is today. In this case, the bond price will remain at par and therefore the holding period return equals to coupon rate 4% c.The yield-to-maturity is 2. 5% one year from now. 1 1000 1. 025 40 1224. 68 1. 025 0. 025 Hence, the holding-period-return (HPR) is: 1224. 68 40 1000 26. 47% 1000 1 4. Plot the yield curve implied by the data in the following table. Time to maturity 3 months 6 months 1 year 2 years 5 years 10 years 15 years 20 years Yield-tomaturity 2. 40% 2. 60% 3. 00% 4. 30% 4. 80% 5. 70% 6. 40% 5. 20% Based on the Expectations Hypothesis, what does the yield curve tell us about short-term rates 5 years from now? What does it tell us about short rates 15 years from now and 20 years from now?Since the yield curve is upward sloping through the fifth year, investors expect that short term rates will be higher during that period than they are today. That is, they expect the 3-month rate to be higher than 2. 4% when five years have passed. They also expect short term rates to be higher than current rates in 15 years. This is reflected in the slope of the yield curve which is positive through year 15. However, the expectation is that after 15 years, short term r ates will begin to fall again. The downward slope in the yield curve is a sign of that expectation.That is, the 3-month rate that prevails 20 years from now is expected to be lower than the 3-month rate that prevails 15 years from now. 5. The current yield curve for default free zero-coupon bonds is as follows: Maturity (years) 1 2 3 Yield-tomaturity 10% 11% 12% a. What are the implied one year forward rates? The one-year forward rate for time 2 solves the following equation: 1. 11 1. 10 1 12. 009%. Similarly, the one-year forward rate for time 3 solves That is, the equation: 1. 12 That is, 14. 0271% 1. 11 1 b. Assume that the expectations hypothesis of the term structure is correct.If market expectations are accurate, what will the yields to maturity on one year and two year zero coupon bonds be next year? We have already computed the forecast for the one year rate next year. We must now compute the expectation for the 2-years to maturity. This must equate the strategy that consist s of investing for 3 years at the current 3-year spot rate with the strategy of investing at the one-year spot rate and then rolling over the profits into a two-year bond one year from now: 1. 10 1 1. 12 13. 0136%. Hence, the forecast for the one-year yield is This implies that 12. 09%, and forecast for the two-year yield is 13. 0136%. c. If you purchase a two year zero coupon bond now, what is the expected total rate of return over the next year? What if you purchase a three year zero coupon bond? You can assume that the par value is $100. We need to compute the forecasted price of the two-year zero-coupon bond at the end of the first year. Notice that by that time this has become a one-year bond. Hence its price is 1000 1. 12009 892. 79 Today the price of this bond is simply 892. 79 811. 62 does not pay any coupons, its return is given by: 1 1 10% . 11. 62. Since this bond Similarly, if you purchase a three-year zero coupon bond today, the forecasted price a year later is 1000 1. 130136 Today, this bond’s price is simply expected holding period return is 78. 295 71. 178 1 78. 295 . 71. 178. Therefore, the 10% 6. Consider the following three bonds. You are investigating how the bonds would react to changes in interest rates. Bond A Face value Years to maturity Coupon rate Yield-to-maturity $1,000 3 5. 5% 4. 80% Zero-coupon bond $1,000 2. 85 0 4. 80% Bond B $1,000 3 8. 75% 4. 80% Assume that coupons are paid once a year. . Find the duration of each bond. Bond A Time 1 2 3 Price ZCB Time 2. 85 Price Bond B Time 1 2 3 Price Cash Flow 87. 5 87. 5 1087. 5 Present value 83. 49 79. 67 944. 81 1107. 97 Weight 0. 075 0. 072 0. 853 Cash Flow 1000 Present value 874. 92 874. 92 Weight 1. 000 Cash Flow 55 55 1055 Present value 52. 48 50. 08 916. 58 1019. 13 Weight 0. 051 0. 049 0. 899 Hence, the durations are: 0. 051 0. 075 1 1 0. 049 0. 072 2 2 0. 899 0. 853 3 3 2. 85 2. 78 2. 85 b. Calculate the modified duration of each bond. The modified durations are ? ? 2. 85 2. 72 1. 048 2. 78 2. 5 1. 048 c. Calculate the estimated percentage change in price of each bond due to a 0. 50% change in yield to maturity. The percentage change in the price of each bond due to a change in the yield? ? ? to-maturity is ? ? ? 2. 72 2. 65 0. 5% 1. 36% 1. 33% 0. 5% d. What can you conclude about the reactions of the bonds? Specifically, compare the percentage price changes of the bonds with similar durations and the bonds with similar maturities. Bonds with equal durations are more alike than bonds with equal maturities in their reactions to changes in yields. 7.Suppose that your insurance company has issued a Guaranteed Investment Contract (GIC) that matures in three years and promises to pay an interest rate of 23. 36%. The amount invested in GIC today is $150,000. You have decided to immunize your position by purchasing a bond that has a par value of $150,000, a coupon rate of 23. 36%, and four years to maturity. The bond is selling currently at par value. a. W hat is the future value of your company’s obligation? The future value of the obligation is $150,000 1. 2336 $281,588. 13 b. Assume that the interest rate stays at 23. 36%.At the date at which each payment is received, compute the accumulated value of reinvested coupons and the proceeds from the bond sale. How close will you come to your meeting your obligation? The bond pays a coupon of $150,000 23. 36% $35,040. If the market rates remain unchanged, at the end of year three it will be possible to sell the bond still at par. With this information, we can construct the following table: Year 1 2 3 3 Total future value Cash flow 35,040 35,040 35,040 150,000 Accumulated value 53,322. 78 43,225. 34 35,040 150,000 281,588. 13 That is, you will be able to repay your obligation in full.

Cloning †English Composition Informal Essay

Cloning – English Composition Informal Essay Free Online Research Papers Cloning English Composition Informal Essay What is cloning? Originally it meant â€Å"asexual reproduction.† You can copy an organism, even a new life by developing the cells from the cell donor. Generally speaking, there are two types of cloning: therapeutic cloning and reproductive cloning. Therapeutic cloning can create specialized cells and organs in order to fight diseases while reproductive cloning can even give birth to a new human being. Dolly the sheep, the first cloned mammal from an adult, was announced in 1997 and it caused an international sensation. Since Dolly debut, scientists have created cloned animals such as mice, pigs, and monkeys, etc. Technologies of cloning were renewed. However, unfortunately, Dolly has been euthanized in 2003 for her premature aging and some kind of lung disease. Although Dolly has died, yet the achievement of her creation was still a milestone in cloning science. On one side, it showed that human cloning would be possible in the future; on the other side, it also raised questions about practicality of cloning life. But what most of the people care are ethical questions. In a CNN poll, over two-thirds of the respondents think that cloning is immoral in any way. In 1997 when Dolly was announced, ex-President Clinton banned the use of federal money for human cloning projects. A few states have even passed laws banning human cloning though it was temporary. Now, the House has passed a law supported by President Bush, which would ban all human cloning including researches. It shows that most people oppose human cloning, so do I. I don’t object cloning, exclusive of reproductive human cloning. I think that therapeutic cloning is proper and necessary because it can be used to fight diseases and create organs artificially. Nowadays, many people around the world wait for an organ transplantation, but it is difficult to get suitable organs for themselves. What’s more, some people would buy organs in the third world or even extract them without donors’ permission. If organs can be created artificially, all problems will be solved. People who suffer from diseases can also be cured. Therefore, I support therapeutic cloning. Then why am I opposed to human cloning? People who support human cloning would say that it can help people who lost their beloved to clone a new one or people who want their own children but they can’t have such as infertile couples and homosexuals to have a child of their own. I have to say that even people can clone a person, but they just copy his body, not his mind. No matter in the past or future, people could never copy one’s mind from anyone. So, when you copy a person, he has the same image with the original one, but they have different souls. How he would be treated? He would be treated as a person who has existed. Since the person has existed, then who is he? As a result, he would suffer psychological damage by being deprived of an individual identity. It’s not fair to the cloned people. I think no matter how the techniques develop, people at most can only copy a human body. And what is the use of a hollowed body? Therefore, I hope people can make their efforts to doing other meaningful things such as protecting the earth, maintaining the balance between human beings and nature instead of doing such ridiculous things against nature. Research Papers on Cloning - English Composition Informal EssayGenetic EngineeringInfluences of Socio-Economic Status of Married MalesCapital Punishment19 Century Society: A Deeply Divided EraQuebec and CanadaPETSTEL analysis of IndiaThe Relationship Between Delinquency and Drug UseHip-Hop is ArtComparison: Letter from Birmingham and CritoThe Spring and Autumn

Using the ToString Method in Visual Basic .NET

Using the ToString Method in Visual Basic .NET The ToString method is one of the fundamental methods in the root of the entire .NET Framework. That makes it available in every other object. But, since its overridden in most objects, the implementation is often very different in different objects. And that makes a number of tricks with ToString possible. Displaying the Bits in a Number If you have a series of bits in, for example, a Char variable, this tip shows you how to display them as 1s and 0s (the binary equivalent). Suppose you have ... Dim MyChar As Char a character selected at random just to get a series of eight bits MyChar $ The easiest way I know of is to use the ToString method of the Convert class. For example: Console.WriteLine(Convert.ToString(Convert.ToInt16(MyChar), 2)) This gives you ... 100100 ... in the Output window. There are 36 overridden methods of the ToString method in the Convert class alone. Click Here to display the illustrationClick the Back button on your browser to return In this case, the ToString method does a radix conversion based on the value of the second parameter which can be 2 (binary), 8 (octal), 10 (decimal) or 16 (hexadecimal). Formatting Strings With the ToString Method Heres how to use ToString to format a date: Dim theDate As Date #12/25/2005# TextBox1.Text theDate.ToString(MMMM d, yyyy) And adding culture information is easy! Suppose you want to display the date from a structure in, say, Spain. Just add a CultureInfo object. Dim MyCulture As _   Ã‚  Ã‚  New System.Globalization.CultureInfo(es-ES) CultureDateEcho.Text _   Ã‚  Ã‚  theDate.ToString(MMMM d, yyyy, MyCulture) The result is: diciembre 25, 2005 The culture code is a property of the MyCulture object. The CultureInfo object is an example of a provider. The constant es-ES isnt being passed as a parameter; an instance of the CultureInfo object is. Search the VB.NET Help system for CultureInfo to see the list of supported cultures.

Strategic Planning Framework Research Paper Example | Topics and Well Written Essays - 2000 words

Strategic Planning Framework - Research Paper Example up to the standards as the company is losing its grip over its market share as well as the position it had achieved earlier in the market based on the quality of its products and services. The two main reasons behind these situations are: 1. High employee turnover rate; 2. Decreased customer satisfaction. Let us discuss these problems in some detail in order to know how these problems are affecting the overall business of the company. 1. High Employee Turnover Rate As Beam (n.d.) states, â€Å"employee turnover is the process of replacing one worker with another for any reason† (p. 1). High employee turnover means that the company is not able to retain its employees. It is a fact that experienced employees yield higher levels of productivity as compared to employees who join the company as fresh employees. The reasons behind high employee turnover ratio are usually improper employee recruitment and lack of a proper incentive plan. When we inquired the managers of NexGen, we ca me to know that they had started hiring less experienced employees in order to cut down the cost of retaining experienced employees. They also took this step as the result of some resignations from their key employees. However, this strategy of the company is proving unsuccessful because new employees are not able to show good performance, and their managers fire them from their jobs after a very short span of time. Another reason that we came to know through analysis was the lack of a proper incentive plan to retain high performing employees. The incentive plan could have motivated the employees to remain associated with the company instead of resigning from their positions. A couple of people who had worked for the company earlier revealed that the company did not use to reward them for their... We would recommend the managers of the company to implement all solutions without any delay if they want to succeed in this current downscale economy. Although the solutions may take some time in proper implementation, the process should be started right away in order to save the company from bearing more loss. For example, the hiring of skilled employees may take a couple of months, but the effects on the company will be long lasting. Similarly, implementation of an incentive plan would need a proper financial analysis. Managers of the company would have to analyze all financial factors before designing the plan in order to save the company from suffering extra costs of developing and implementing the incentive plan. Implementation of a quality management system also needs planning. Managers of the company need to set guidelines and train employees to follow those rules while developing any new product. Introduction of after-sale service plan can be done right away as no time-taking planning is needed to take such steps. The managers just need to hire some outdoor service employees to implement this step.

Childhood studies Essay Example | Topics and Well Written Essays - 2750 words

Childhood studies - Essay Example The approach postulated by Aries was later amplified and to some extent misinterpreted by intellectuals who noticed the appalling characteristics of the pre-modern childhood. For instance, the increased death rates, harsh discipline muted to the children, and the idea of child labour. Additionally, some patterns were observed to be surrounding the childhood concept. For example, societal naming system that derives names of the dead in naming newborn children. Indeed, the system was a cavalier approach to the death of the infants and individuality of the children (Stearns, 2005, p.4). Morrison (2012, p.28) argues that in the attempt to find answers to the overarching problems that face the children in the contemporary world, there is a need to focus on the academic works. The global history of children adds to the advancement of the conditions of numerous children in today’s world. Professors and scholars can greatly inspire their learners to focus care on the rights of children, provide critical thinking perspectives and problem-solving techniques as a necessity to turn care into actions. Essentially, global childhood historians can serve the purpose of consultancy for policy-makers and activists who seek the parallels of history regarding children issues. Further, historians can trace the root causes of the problems that faced children including child labour and violence. Therefore, the disadvantaged and destitute children must not receive blame for existing conditions. Scholars, for example, Shulamith Shahar critiqued and proved wrong Aries’ theory that childhood had no abode in the medieval world. In his book Childhood in the Middle Ages, Shahar claims that the theory postulated by Aries is erroneous since no community can physically survive in the absence of child nurturing traditions, channels of knowledge transmission, and rich avenues for the young to socialize. Further, Shahar maintains that just because the middle-aged children were involved in