Education by Computer - A Better Way Essay Example | Topics and Well Written Essays - 1000 words

Education by Computer - A Better Way - Essay Example It is easy for a student in America to take lectures from an Indian teacher now with the help of videoconferencing like computer technologies. Moreover, no other resources can provide the same referencing facilities as computer does. Instead of academic libraries, students now started to access online libraries in order to get more insights into a particular topic. Even though the utility of computer in education is unquestionable, some people argue that education by computers should not be encouraged beyond certain limits. This paper analyses whether education with the help of computers is good or bad or up to what extent we can rely on computers to provide better education to children. To be able to put the computer in an adequate perspective in education or in individual or social life it is necessary to understand very well what it is. Its main characteristic is that it is an abstract and not concrete machine (as, e.g. a power lathe or a bicycle): it acts in a virtual space, the space of the thoughts we may insert into the machine. So any use of it forces some abstract thinking (Setzer). Many people have the false belief that computers can bring wonders in educational circle. However, it should be noted that computers are working on artificial intelligence and it do not possess any natural intelligence as man possesses. In other words, computers are working based manmade instructions or programs. Since computers do not have the thinking ability, it cannot answer a question which is unfamiliar to it. On the other hand, human intelligence can try to solve all problems because of its independent thinking ability. According to Roger J. Desmond, a professor in the School of Communication at the University of Hartford, who specializes in kids and interactive media "computer games can increase reaction time, which can help with doing stuff that school requires†(Wood). Majority of the computer games encourage children to think in multiple ways to solve a part icular problem created by the computers. For example, Prince of Persia is a multilevel computer game popular among kids. This game presents so many puzzles in front of the kids. It is impossible for children to go to a higher level if they fail to solve the puzzle in the present level. Thus, they will be encouraged to think too much while playing Prince of Persia like computer games which is good for them to solve problems in their studies. Some people believe that over exposure to computer related education may damage the thinking abilities of the children. Learning is actually occurs through problem solving method. In other words, when a student tries to solve a problem, he will think about various ways to solve it. Thus he may develop so many hypotheses initially and test all of them with the help of trial and error method before arriving at the right solution. In short, self-solving of problems may help a student to open up many of his hidden faculties of mind which is good for the brain development. On the other hand, when a student tries to solve a problem with the help of computers, he is getting ready made answers at once and therefore he may not get an opportunity to give some kind of exercises to his brain. In short, over reliance on computers for solving problems can affect the thinking abilities of the students. It is a fact that many of the modern students are struggling while they are forced to take some critical decisions in their lives.

American Housing and Global Financial Essay Example for Free

American Housing and Global Financial Essay To do this, lawmakers needed to understand what had happened, particularly because housing had until then seemed like such a bright spot in the US economy. The US housing â€Å"bubble† in the early 21st century In his 2001 letter to shareholders, Fannie Mae CEO Franklin Raines wrote, â€Å"Housing is a safe, leveraged investment – the only leveraged investment available to most families – and it is one of the best returning investment to make. Home will continue to appreciate in value. Home values are expected to rise even faster in this decade than in the 1990’s. His optimism was due in part to the importance Americans attributed to owning a home. The importance was reflected in Fannie Mae’s motto, which was â€Å"Our Business in the American Dream. † Raines was not alone in touting the advantages of housing as an investment. While house prices in particular region had suffered temporary declines at various points, average housing prices across the United States had risen fairly steadily since at least 1975 (see Exhibit 1). This trend accelerated in 1996, and reached about 12 percent per annum in late 2005 and early 2006. Many observers felt that this rise in prices was due in part to the Federal Reserve’s policy of maintaining low interest rates after the 2001 recession. In the period from 1980 to 2001, the Federal Funds rate (an overnight interest rate that bank charged each other and which the Federal Reserve targeted) had generally tracked economic conditions (see Exhibit 2). After 2001 and until July 2004, however, the Fed kept interest rates low in spite of signs of growth in output and prices. Perhaps fearing a recession that did not materialize, the Federal Funds rate was set to only 1 percent from July 2003 to July 2004. After this, anxiety about inflation seemed to gain the upper hand and interest rates were increased steadily, with the Federal Funds rate reaching 5. 25% in September 2006. A debate over house prices started around 2004. Some economists, such as Dean Baker, the co-director of the Centre for Economic and Policy Research claimed at the time that house prices were like a bubble ready to burst, and that the economy needed to brace itself for a loss of $2 to $3 trillion in housing wealth. Others felt that, even though increases in housing prices had far outstripped increase in residential rents, this was reasonable in light of the low interest rates. Even in October 2005, when it was common to hear mentions of a housing bubble, developer Bob Toll disagreed and complained â€Å"Why can’t real estate just have a boom like every other industry? Why do we have to have a bubble and then a pop? † Meanwhile, several economists pointed out that house price increases were concentrated in particular areas such as San Francisco and New York, where zoning restriction made it difficult to expand the housing stock. Professor Chris Mayer of Columbia University saw the attraction of these areas coupled with the inability to increase supply as allowing house prices in these areas to remain high â€Å"basically forever†. Nothing that Tokyo real estate was still more expensive than real estate in Manhattan, he stated: â€Å"There’s no natural law that says US housing prices have to stop here. None. † While house prices reached eye-popping levels in what Chris Mayer called â€Å"superstar cities,† construction was booming elsewhere. Cities like Phoenix, as well as many communities in Florida and around Los Angeles, saw such a torrid pace of construction that builders had difficulty even procuring the cement they needed. New houses in these areas were often snapped up by eager investors and newspapers relished reporting on individuals who managed to resell houses at a gain even before they took possession of them. According to Loan Performance Inc, more than 12% of Phoenix-area mortgages were obtained by investors in 2004, as compared to just 5. 8% nationwide in 2000. Home finance before the 1990’s In the United States, it was common to talk about the â€Å"Traditional† fixed 30 year mortgage. This instrument required the borrower to make a constant stream of monthly payments during the 30 year term of the loan. These payments were specified in advance; so the interest rate on this loan was fixed. Many of these traditional loans allowed borrowers to ‘pre-pay† their mortgages without penalty. When interest rates declined, borrowers often took advantage of this feature and refinanced their homes at lower rates. Savings and Loan Associations (Samp;Ls) already offered mortgages with constant payments before the Great Depression, though they were typically less than 12 years long. At the time, other lenders mostly offered short-term mortgages that needed to be refinanced because they had â€Å"balloon† payments at the end. During the Great Depression, many households went into default in part because this refinancing became difficult. One government response was to create the Home Owners Loan Corporation (HOLC), which made simultaneous offers to borrowers and lenders. If they both agreed, lenders received HOLC obligations in exchange for their claims against households, although this exchange required bank to recognize a loss on their assets. Households, meanwhile, freed themselves of their previous obligation by accepting new ‘self-amortizing’ mortgages with fixed payments whose terms were based on new assessments of their home’s worth. After WWII, banks and Samp;Ls originated many fixed 30 year mortgages and held them to maturity. The results were not always happy. When short-term interest rates rose in the early 1980’s, the yield on mortgage assets fell below the cost of paying depositors for their funds. This mismatch was one of the causes for the failure of about half of the 32,234 Samp;L’s that existed in 1986. Because the government insured the Samp;L’s depositors, it incurred considerable losses and had to set up a special institution to dispose of the failed Samp;L’s assets. The Samp;L crisis also boosted the securitization of mortgages by two governments sponsored enterprises (GSEs), Fannie Mae and Freddie Mac. Fannie Mae was originally created in 1938 as a government agency. Like Freddie Mac, a twin that Congress chartered in 1970, Fannie Mae eventually became a privately owned publicly traded company. Starting with bundles of mortgages purchased from mortgage originators, the GSEs created and sold mortgage-backed securities (MBSs), which delivered to holders the payments made on these mortgages. In exchange for a fee, the GSEs guaranteed the interest and principal on these loans. This meant that, assuming the GSEs remained solvent (or that the government came to their rescue if they found themselves in financial trouble), the only payment risk faced by the holders of these MBSs was the risk that the underlying mortgages would be repaid before they were due (Known as prepayment risk). Congress capped the size of the loans that GSEs could accept. In 2006, for example, the maximum loan for single-family homes was $417,000. To limit their credit risk, the GSEs used standards that were similar to those of traditional originators. To secure sufficient collateral, they took only senior mortgage and generally required the loan-to-value ratio (LTV) to be below 80 %. The LTV was computed as the ratio of the mortgage to the property’s market value at the time of origination. Before underwriting loans, the GSEs also looked at the borrower’s income and employment status, level of other assets, and history of foreclosures and bankruptcies. Consistent with the rules of GSEs, home lenders before the 1990s only lent to borrowers they deemed credit worthy, and generally required documentary evidence on these variables. Until the practice was penalized by a 1977 law, most lenders also denied mortgages to people living in certain â€Å"redlined† communities, where these were predominantly inner city neighborhoods with large black populations. An avenue that remained open to borrowers with problematic credit histories was to apply through conventional lenders for loans insured by the Federal Housing Administration (FHA). The lenders then had to verify that the loan met FHA requirements and the process for doing so was somewhat more time-consuming than in the case non-FHA mortgages. In spite of these standards, about 8 % of FHA loans were past-due in 1993, while the delinquency rate on standard mortgages was only 3 %. FHA loans were packaged into mortgage-backed securities by Ginnie Mae, a government owned corporation that dealt exclusively with federally guaranteed mortgages. Innovation in the mortgage In the 1990s new firms started to lend money to borrowers that did not qualify for ‘prime’ mortgages. Rather than lending directly, many of these firms sought the help of mortgage brokers to whom they paid commissions. The US Department of Housing and Urban Development’s list of lenders who specialized in such ‘subprime’ loans increased from 63 lenders in 1993 to 209 in 2005. Wall Street firms Lehman Brothers, Bear Stearns, Goldman Sachs, Merrill Lynch and Morgan Stanley all acquired such lenders, though all but Lehman Brothers and Bear Stearns did so only in 2006. One obvious difference between ‘subprime’ and ‘prime’ loans was that the former had higher interest rates and fees. There was, however, no precise dividing line between the two, so that there was no consensus on how to measure the fraction of subprime loans. According to one definition, the value of these loans grew from about 1% of new mortgages in 1993 to 20% in 2006. At the same time, the FHA share dropped from 11% to 1. 9%. An independent analysis by the Wall Street Journal concluded that 29% of the home loans made in 2006 had high interest rates. A large fraction of these loans refinanced existing loans. In many cases, these refinancing loans increased the borrowers’ mortgage debt and thereby made it possible for households to keep some cash for other purposes. From being virtually unknown in the 1980s, Countrywide Financial became the largest mortgage lender in 2005. A 2003 government report showed that it was also the leading mortgage lender to minority homeowners, as well as one of the largest providers of home loans in low-income communities. When this report was released, Countrywide’s CEO Angelo Mozilo said: ‘We’re extremely proud of our accomplishments, as they clearly demonstrate our long-standing commitment to provide all Americans with the opportunity to achieve the dream of homeownership. These results underscore our ongoing efforts to discover new approaches to turn individuals and families into homeowners, to develop new loan products that reduce or eliminate the obstacles to homeownership and to make it easier for families to qualify for loans. Contrary to what had been standard practice in the past, lenders such as Countrywide did not offer the same interest rate to all borrowers. This customization was facilitated by the use of automated statistical models that predicted the likelihood of default on the basis of borrower characteristics. Interestingly, the first statistical tools that came into wide use were those developed by Freddie Mac (called Loan Prospector) and Fannie Mae (called Desktop Underwriter). These were introduced to make it easy for mortgage originators to know whether their loans would be acceptable to the GSEs, though their use expanded well beyond this purpose. One variable that played a key role in these models, and which had apparently been absent from previous methods of qualifying borrowers for mortgage, was the borrower’s credit score. While there were several approved commercial credit score formulas (regulators did not allow scores to depend on race, gender, marital status or national origin), the most popular one was the FICO score invented by the Fair Isaac Corporation. This score, which ranged from about 300 for poor credit risks to about 850, appeared to give considerable weight to the punctuality with which borrowers had paid their previous obligations. One reason these scores became important in mortgage applications was that studies by Freddie Mac had shown a strong correlation between FICO scores and defaults on mortgages in the pre-1995 period. One type of mortgage that became popular among subprime lenders was known as 2/28 because its rate was fixed for 2 years and then became variable for the remaining 28 years. This mortgage was quite different from adjustable rate mortgage (ARMs) offered to prime borrowers. The introductory rate on 2/28 was above the typical rate offered on 30-year fixed mortgages, whereas ARMs for prime borrowers had initial rates below those on fixed mortgage. Also, rates on 2/28s rose considerably when they were ‘reset’ after 2 years. According to the President of the Federal Reserve Bank of Boston Eric Rosengren, the average initial rate for subprime mortgages issued in 2006 was 8. 5% (when the conventional 30-year mortgage rate was below 6. 4%) and reset to 610 basis points above the 6-month LIBOR rate (which averaged about 5% in 2006) after 2 years. In the case of reasonable 2/28 mortgages, there were pre-payment penalties if the mortgage was pre-paid in the first two years but there was no cost associated with pre-paying right before the interest rate was reset. From the point of view of mortgage brokers, this arrangement was attractive because it ensured that many borrowers would refinance after two years, allowing brokers to collect new origination fees. Borrowers were also told that this arrangement was good for them because, if they made timely payments, their FICO score would improve and they would be able to refinance at a lower rate. There were widespread allegations that some borrowers in this period received home loans on terms that were substantially less favorable than those of conventional or FHA loans for which these borrowers would have qualified. It was also claimed that unsophisticated borrowers had been duped into signing mortgage that continued to have severe pre-payment penalties even after interest rates had been reset to high levels. A lawsuit in Michigan claimed that a mortgage broker working for a unit of Lehman Brothers ‘confused and pressured’ an elderly couple so that they would sign a loan whose interest rate would reach 17. 5%. Several borrowers told Federal officials that they had simply been laid to regarding their future monthly payments. What is certain is that some borrowers agreed to make payments that were impossible for them to keep up with over time. A 79-year old retired engineer named Robert Pyle, for example, moved from a $265,000 to a $352,000 mortgage in 2005 and cleared his credit card debts in the process. Almost immediately after signing the mortgage, which involved over $33,000 in fees, he found himself unable to cover the $2200 monthly payment. Terry Dyer, the broker who issued Robert Pyle’s mortgage said, â€Å"It’s clear he was living beyond his means, and he might not be able to afford this loan. But legally, we don’t have a responsibility to tell him this probably isn’t going to work out. It’s not our obligation to tell them how they should live their lives. † Some subprime loans required less documentation than was traditionally demanded. Instead of requiring proof of income of independent appraisals of the value of the home, some subprime mortgages were based only on â€Å"stated income† or â€Å"stated value†. Stated income loans were very convenient for borrowers who had casual jobs that were difficult to document, though they opened the door to fraud by both borrowers and brokers. Another dimension in which some subprime loans departed from traditional ones was in their down-payments requirements.

Husserl, Carnap, Heidegger, and Wittgenstein :: Philosophy Philosophical Papers

Husserl, Carnap, Heidegger, and Wittgenstein ABSTRACT: Phenomenology and logical positivism both subscribed to an empirical-verifiability criterion of mental or linguistic meaning. The acceptance of this criterion confronted them with the same problem: how to understand the Other as a subject with his own experience, if the existence and nature of the Other's experiences cannot be verified. Husserl tackled this problem in the Cartesian Meditations, but he could not reconcile the verifiability criterion with understanding the Other's feelings and sensations. Carnap's solution was to embrace behaviorism and eliminate the idea of private sensations, but behaviorism has well-known difficulties. Heidegger broke this impasse by suggesting that each person's being included being-with, an innate capacity for understanding the Other. To be human is to be "hard-wired" to make sense of the Other without having to verify the Other's private sensations. I suggest that being-with emerged from an evolutionary imperative for conspecific animal s to recognize each other and to coordinate their activities. Wittgenstein also rejected the verifiability criterion. He theorized that the meaning of a term is its usage and that terms about private sensations were meaningful because they have functions in our language-games. For example, "I'm in pain," like a cry of pain, functions to get the attention of others and motivate others to help. Wittgenstein's theory shows how Dasein's being-with includes "primitive" adaptive behavior such as cries, smiles, and threatening or playful gesture. As Dasein is acculturated, these behaviors are partially superseded by functionally equivalent linguistic expressions. I. Introduction There are obvious and important ways in which analytic and continental philosophy differ, but this should not make us overlook their thematic and historical similarities. Both traditions had their roots in phenomenalistic theories that attempted to reduce all meaning to the immediately given. Even though phenomenology was more generous in construing what was immediately given, neither phenomenology nor logical positivism could do justice to our understanding of the subjectivity of other people. Heidegger and Wittgenstein each dealt with this problem in unique but complementary ways. Phenomenology and logical positivism both subscribed to the verifiability criterion for meaning ('verificationism' for short). Logical positivists emphasized linguistic meaning, and in their most antimetaphysical stage asserted that a synthetic sentence is meaningful for a person only if that person could use experience to discover the sentence's truth-value. Husserl was more interested in thoughts about the existence and nature of phenomena and believed that they gained meaning only through acts of verification. Husserl, Carnap, Heidegger, and Wittgenstein :: Philosophy Philosophical Papers Husserl, Carnap, Heidegger, and Wittgenstein ABSTRACT: Phenomenology and logical positivism both subscribed to an empirical-verifiability criterion of mental or linguistic meaning. The acceptance of this criterion confronted them with the same problem: how to understand the Other as a subject with his own experience, if the existence and nature of the Other's experiences cannot be verified. Husserl tackled this problem in the Cartesian Meditations, but he could not reconcile the verifiability criterion with understanding the Other's feelings and sensations. Carnap's solution was to embrace behaviorism and eliminate the idea of private sensations, but behaviorism has well-known difficulties. Heidegger broke this impasse by suggesting that each person's being included being-with, an innate capacity for understanding the Other. To be human is to be "hard-wired" to make sense of the Other without having to verify the Other's private sensations. I suggest that being-with emerged from an evolutionary imperative for conspecific animal s to recognize each other and to coordinate their activities. Wittgenstein also rejected the verifiability criterion. He theorized that the meaning of a term is its usage and that terms about private sensations were meaningful because they have functions in our language-games. For example, "I'm in pain," like a cry of pain, functions to get the attention of others and motivate others to help. Wittgenstein's theory shows how Dasein's being-with includes "primitive" adaptive behavior such as cries, smiles, and threatening or playful gesture. As Dasein is acculturated, these behaviors are partially superseded by functionally equivalent linguistic expressions. I. Introduction There are obvious and important ways in which analytic and continental philosophy differ, but this should not make us overlook their thematic and historical similarities. Both traditions had their roots in phenomenalistic theories that attempted to reduce all meaning to the immediately given. Even though phenomenology was more generous in construing what was immediately given, neither phenomenology nor logical positivism could do justice to our understanding of the subjectivity of other people. Heidegger and Wittgenstein each dealt with this problem in unique but complementary ways. Phenomenology and logical positivism both subscribed to the verifiability criterion for meaning ('verificationism' for short). Logical positivists emphasized linguistic meaning, and in their most antimetaphysical stage asserted that a synthetic sentence is meaningful for a person only if that person could use experience to discover the sentence's truth-value. Husserl was more interested in thoughts about the existence and nature of phenomena and believed that they gained meaning only through acts of verification.

Capital Punishment †Fair and Balanced Essay

Capital punishment is a difficult issue to address and has been the subject of highly controversial debates over the decades. The United States Supreme Court decided in Furman v. Georgia that the death penalty was a form of cruel and unusual punishment. However, just three years later in 1975, the Supreme Court reversed their decision, and executions resumed under state regulation. The death penalty is considered the harshest from of punishment enforced today. The most common method used to implement this task is lethal injection; although, the electric chair is still used in some states. The large debate over the death penalty comes from liberal fanatics who use deception and falsehoods to further their cause. Supporters of the death penalty consider capital punishment the only way for true justice to be executed for the severest of crimes. Supporters also claim criminals that commit such harsh crimes, including murder and rape, deserve to be punished to the fullest extent of the law. Preventing future crimes and deterring criminals from committing such harsh acts also play key roles in support of the death penalty. Concrete proof of deterrence alone is not a valid reason for capital punishment, nor is it the underlying principle in use by astute death penalty advocates. Criminals ought to be punished for their crimes committed and not merely to deter others. That said however, the death penalty unquestionably â€Å"deters† the murderer who is executed. Strictly speaking, this is a form of incapacitation; similar to the way a robber put in prison is prevented from robbing on the streets. Vicious murderers must be eliminated to prevent them from murdering again, either in prison, or in society if they should get out. Both as a deterrent and as a form of permanent incapacitation, the death penalty helps to prevent future crime. The argument against capital punishment relies on myth, propaganda, and misplaced emotion. Many people against the death sentence claim that the justice system is discriminatory. This statement is blatantly false. African-Americans and other minorities are not impacted unfairly by the justice system. The fact of the matter is the majority of those executed  since 1976 have been Caucasian males. If the death penalty is truly discriminatory, then it is biased against white murderers and not blacks, because figures show that African-Americans make up a majority of those convicted of murder. According to the U.S. Bureau of Justice Statistics, blacks committed 51.5% of murders between 1976 and 1999, while whites committed 46.5%. The latest of hate crime laws are likely to only exacerbate the hypocrisy. A â€Å"hate crimes† frame of mind translates into tougher sentences for interracial crimes. Since Caucasians are killed by African-Americans 2.6 times more often then the other wa y around, more killers of Caucasians will be predisposed to receiving the death penalty.Finances are also argued frequently on the topic of capital punishment. â€Å"It costs more to execute a person than to keep him or her in prison for life. A 1993 California study argues that each death penalty case costs at least $1.25 million more than a regular murder case and a sentence of life without the possibility of parole† (Deathpenalty.org). This statement deserves no response, because the figures are not perfect, and are dubious at best. Nevermind the fact that justice should not be up for sale. Serving justice is not about saving money, and should not be treated as if it were an item being contracted, trying to get the â€Å"lowest bid.†Retribution is an additional reason for capital punishment, which some opponents of capital punishment confuse with vengeance. As a sound principle of natural law and common sense, the punishment should fit the crime. For example, if someone had been convicted of the assassination of the president, and the judge had sentenced him or her to only five years in prison, the nation would have been pr operly outraged. Having a fit punishment for the crime committed has been around since the beginning of civilization. Hammurabi’s Code of Law, developed long before the birth of Christ, claims retribution as, â€Å"an eye for an eye, life for a life†. Retribution makes capital punishment justifiable because it is an injustice to tolerate such unimaginable horror.If one commits a crime, he or she should be ready to accept the consequences. Murder is a crime that involves the loss of innocent life, and that act needs to be rightly punished. Murderers should not receive an overextended welcome in a prison. Those who commit these serious offenses do not belong in society. Realistically there is no solid argument against the death penalty. If society were to take capital  punishment away, the public would not have an effective justice system and crimes against innocent people would continue. Opponents of the death sentence need to accept the fact that capital punishment is fair and just. Using lies and deceit will only go so far. The people of this country are smart enough to realize the difference between fact and fiction, and the truth is capital punishment works.

Democracy and Technology Essay

While technologies such as the use of internet and e-democracy have made the dissemination of ideas quicker, they have also resulted in the increase in a group’s power to manipulate general opinion. The technologies aiding democracy today, such as computers, satellites, radio, telephones and television have undeniably changed the face of modern democracy. What constitute positive spill outs of these technologies for democracy also in some cases have a detrimental effect on it. While it increases the reach among people and nations, enriching both formal and business communication, it also provides these opportunities to fundamentalists to create rumours and channels individuals or a group of people against democracy. However a little caution such as verifying the news from multiple sources will easily reveal these elements and thus the negative influence of misleading a large group of rational individuals can be easily curtailed. The rise in literacy level and the positive trend of e-democracy deepens the process of democracy and empowers the individuals not only to have a say in the election of their government as earlier, but also empowers the citizens to have greater say in the decision making process of the government. With increasing literacy levels, as the citizens become more aware of the power of technology, they will find it easier to organise themselves for pressing on social, economic and political reforms from the government at helm thus ushering a truly democratic era where the citizens role is not only limited to electing their representatives but also to correct them if they are being found negligent in fulfilling their duties. However for this to happen in the future, it should be ensured that technology and their benefits are not limited to a select few in the upper echelons of society and that they are made available to those at the lowest level for complete integration of the masses to the democracy. References Allison, Juliann Emmons. (2002). Technology, development, and democracy. SUNY Press.

Differences between current theories of investing assessment Essays

Differences between current theories of investing assessment Essays Differences between current theories of investing assessment Essay Differences between current theories of investing assessment Essay Internal Rate of Return ( IRR ) , Accounting Rate of Return ( ARR ) and the Payback Period Methods. In recent old ages at that place has been a turning spread from the theoretical protagonism of some of these methods and their existent usage by houses. This paper will look to measure such claims and see the factors that are doing this displacement. The Net Present Value ( NPV ) is one of many methods used to measure investing undertakings utilizing discounted hard currency flows. Under the NPV method, investing undertakings are viewed as holding a watercourse of forecasted hard currency influxs and escapes over the life of the project’s economic life. It assumes that other than these hard currency flows, there are no other effects impacting the undertaking, and hence merely discounted hard currency flows are taken into history. [ 1 ] NPV focuses on undertakings that maximize the net present value of all hard currency flows generated for the company, more officially it isthe net pecuniary addition ( or loss ) from a undertaking, computed by dismissing all present and future hard currency influxs and escapes related to the project. [ 2 ] Using NPV all future hard currency flows from the undertaking are discounted at a rateI, back to clip 0 which is the start of the undertaking. A undertaking is considered profitable if its NPV is greater than zero and comparative to another undertaking the 1 with the higher NPV is preferred over the alternate undertaking. [ 3 ] NPV is academically preferred over other investing assessment methods for several grounds. NPV is simple to cipher and to get at an unambiguous concluding determination. NPV besides takes into history the clip value of money by dismissing hard currency flows thereby taking into history the clip value of money. Additionally, its usage of hard currency flows alternatively of accounting net incomes means that it is able to account for the sum and timing of hard currency flows from the undertaking every bit good as accounting for all of the hard currency flows over the life of the undertaking. [ 4 ] The NPV besides incorporates hazard into the determination devising procedure through the accommodation of the investment’s price reduction rate. [ 5 ] Pike and Neale maintain that the NPV increases a firm’s market value and therefore the shareholders’ interest because directors merely accept undertakings which offer positive net nowadays values when discounted at tantamo unt market rates of involvement. [ 6 ] Some of the challenges faced by investors when utilizing NPV is gauging the value of hard currency influxs and escapes over the life of the undertaking. Second, NPV method is merely recognized when its value is positive in a perfect capital market environment in which there are no limitations on the handiness of finance. However, in world markets are restricted or rationed thereby restricting the pertinence of its determination regulation. The NPV besides assumes that company’s cost of capital is known and is changeless over the life of the undertaking. However, in world it is hard to gauge and choose an appropriate price reduction rate. Furthermore, it is improbable to stay changeless over the life of the undertaking due to the of all time changing nature of the economic environment. [ 7 ] The Internal Rate of Return ( IRR ) isthe rate that equates the cost and benefit of the undertaking in footings of present value. [ 8 ] It is the rate at which the NPV peers zero and hence is the maximal cost of financing the undertaking or investing. Given that the rate refers merely to the project’s internal factors, no external factors are considered in this assessment method. This can be seen as an advantage in that it does non necessitate the computation of a complex price reduction rate [ 9 ] , on the other manus it besides means that it does non account for altering market environments. Undertakings are accepted utilizing this method when the IRR is greater than the return required by the investor. On the other manus, if the IRR is less than the riskless rate of return, the undertaking is rejected. [ 10 ] Some of the drawbacks to this method include its premise that grosss are reinvested and the equivocal root consequences when mark reversal occurs more than one time in the project’s hard currency flows. It besides assumes that the rate of loaning and adoption are the same and it assumes an equal cost of capital throughout the project’s life, which is unrealistic. [ 11 ] Luenberger maintains that both the NPV and IRR methods have appropriate topographic points in investing assessment but in different conditions. [ 12 ] One of the cardinal strengths of the NPV is its comparing of theinvestment with the rate of return of normal funding channels, and therefore creates a healthier state of affairs of comparing in contemplating the feasibleness of the investment. [ 13 ] Conversely, the IRR can be applied when the investing needs to be repeatedly reinvested in the same undertaking. Whilst it possibly disputing to get at the price reduction rate for the NPV, consideration for the clip value of money is of import in the assessment procedure. Furthermore, the cost of capital is an of import manner of placing the efficiency with which an investor’s capital is invested. [ 14 ] Additionally, the NPV does non get at any equivocal roots, unlike the IRR. [ 15 ] However, harmonizing to Kuronen, neither the NPV nor the IRR methods are able to capture the stock holder value created by the investing. [ 16 ] The payback investing assessment method is normally the 1 used foremost to filtrate out possible undertakings. It asks investors the inquiryhow long will it take for the undertaking to pay back its cost? . [ 17 ] In some instances, companies will hold a mark payback day of the month which will ensue in their rejecting undertakings which do non run into it. The payback method thereby provides a speedy manner in which to measure the hazard of the undertaking. It will ever supply clear consequences and its advocators believe that it identifies less hazardous undertakings or the undertakings which will be invested for the least sum of clip. [ 18 ] Harmonizing to CIMA, undertakings should non be accepted entirely on the footing of the payback method and investors should utilize a more sophisticated assessment technique. The popularity of the payback method has been worsening since the 1970s due to increased consciousness of its restrictions. One such restriction harmonizing to Kuronen is the fact that it does non take into history the possible net income degrees that may be achieved by the investing. Second it wholly ignores the timing of the rate of returns. Companies that do utilize it, do so in combination with other methods. [ 19 ] Remer and Nieto find that usage of the payback method has wholly diminished [ 20 ] , which contrast with the findings of Jahnke and Simons who find grounds to propose that payback is in fact used rather on a regular basis. They find that the bulk of houses use it in combination with other methods whereas little houses rely on it as a individual standard. [ 21 ] Another assessment method used by investors is the Accounting Rate of Return ( ARR ) which compares the mean one-year net income degrees of a undertaking wit its initial investing, expressed as a per centum. ARR accepts undertakings which have an ARR higher than a preset rate of return. This method uses accounting flows instead than hard currency flows, unlike the NPV which means that it looks at the impact of future reported net incomes from a undertaking. The cardinal disadvantages of ARR is that it does non take into history the timing of hard currency flows and the cost of funding and it does non look to maximize stockholder wealth but instead accounting net incomes, unlike NPV. Additionally, ARR has a inclination to pick up irrelevant informations because it is based on accounting net incomes which means it will apportion a portion of operating expenses to countries that the undertaking may non be undertaken. McLaney therefore maintains that this method is improbable to be used extensively by investors because it is likely to take to hapless determinations. [ 22 ] Conversely, Irons believes that it is a widely used assessment method because in add-on to the aforesaid advantages, informations is readily available to cipher it. [ 23 ] One survey by Sangster finds that companies today use the traditional methods of discounting hard currency flow techniques more than they use accounting rate of return. [ 24 ] While there is grounds to corroborate that the NPV and IRR are still being used by investors as major investing assessment techniques [ 25 ] , other surveies are happening an increasing deficiency of their existent usage by companies. A survey by Akalu finds only15 per centum of respondents rated standard assessment methods as being very good’ in footings of preciseness and 19 per centum of respondents rated them very good’ at supplying the promised value. Akalu argues that these consequences do non compare at all with the text edition statement for NPV or IRR appraisal methods which would hold rated them as high’ . The findings hence indicate agap between the theoretical and pattern of capital budgeting[ 26 ] and that these methods areunable to supply the promised undertaking value to shar eholders .[ 27 ] A turning tendency towards the usage of a combination of appraisal methods was found, irrespective of the project’s life span and required capital outgo. The survey besides revealed that as the life span and capital disbursement increased, more quantitative and advanced assessment methods were used. [ 28 ] These findings are supported by a survey carried out by Pike which show that the usage of a individual assessment method has been worsening from 31 per centum in 1975 to 4 per centum in 1992. In contrast, the usage of a combination of three assessment methods has increased from 22 per centum to 32 per centum and rose by even greater, 11 per centum to 32 per centum for the four theoretical account combination. [ 29 ] Harmonizing to Akalu, the motives behind the increased usage of a combination of appraisal methods, appears to be due to the inability of a individual theoretical account to accurately mensurate the value of a undertaking. Firms have hence resorted to utilizing a combination of appraisal methods in order to cut down likeliness of a disagreement between the existent and estimated gross and the cost of a undertaking. Surprisingly, the NPV was found to make the largest disagreement of all of the methods investigated, runing up to 20 per centum for undertakings with a lifetim e of over10 old ages and investing of more than ˆ80 million. [ 30 ] Furthermore, some industries, viz. support services and distribution and conveyance, were found to hold a greater inclination towards disagreements. Akalu farther maintains that a higher disagreement could take to low stockholder value in a company. [ 31 ] As a consequence, there is a turning displacement off from the usage of standard assessment methods towards newer theoretical accounts, peculiarly value direction theoretical accounts, or towards the application of techniques which may compromise the assessment procedure. [ 32 ] In fact the 2001 survey by Akalu and Turner confirms the increasing function that the DCF theoretical account is playing in stockholder value direction. In fact, a combination of both standard and value direction theoretical accounts are progressively being used. [ 33 ] These surveies contrast with a surprising determination by Hatzopoulos and Arnold who find that in the UK, the spread between the theoretical and practical usage of undertaking assessment methods are in fact narrowing. [ 34 ] Akalu and Turner farther find indicants of a displacement off from traditional and inactive theoretical accounts towards the more flexible value direction theoretical accounts such as stockholder value analysis, Economic Value Analysis ( EVA ) and Net Contribution to Value ( NCV ) , to back up traditional investing assessment techniques. [ 35 ] Additionally, a survey by Barfield finds that the usage of the stockholder value analysis ( SVA ) has allowed fiscal establishments to execute better than others. [ 36 ] This was taken to an even wider graduated table by Copeland et Al. who have found that states which apply SVA methodsare more value originative than others. [ 37 ] This paper has given an history of the assorted investing assessment methods used by companies to measure undertaking and has given an account of their assorted strengths and failings. This paper besides sought to give an history of the altering tendencies in the usage of these appraisal methods every bit good as an account for these displacements. The findings of this paper suggest that there is no 1 individual method that has been wholly been eliminated or advocated in footings of its practical usage today because of the different environments, industries every bit good as changing company and undertaking sizes. For the most portion, for every survey that was found to recommend a peculiar method and its growth usage today there was another that discredited it, doing it hard to truly arrive at a concluding decision of the existent current tendencies. However, it can be concluded that there is a turning tendency towards the combined usage of all of these methods at changing times of the undertaking life spans, to cut down likeliness of a disagreement between the existent and estimated gross and the cost of a undertaking. Finally, there besides appears to be a displacement by companies towards the usage of the more flexible value direction theoretical accounts which are ensuing in comparatively greater fiscal public presentation. Bibliography Akalu M. , ( 2002 )Measuring the Capacity of Standard Investment Appraisal Methods: Evidence from the patternTinbergen Institute Akalu, M. A ; Turner, R. ( 2001 )Investing Appraisal Process: A Case of Chemical Companies, Erasmus Research Institute of Management Akalu A ; Turner ( 2002 )Investing Appraisal Process in the Banking A ; Finance Industry: A Case Study,Erasmus Research Institute of Management Arnold, G. and Hatzopoulos, P. ( 2003 )The Theory-Practice Gap in Capital Budgeting: Evidence from the United Kingdom,Journal of Business Finance A ; Accounting Vol. 27, Issue 5, Amp. 6, P. 603-626 Gotze, U. , Northcott, D. A ; Schuster, P. ( 2007 )Investing Appraisal: Methods and Models, Springer Institute of Chartered Accounting England and Wales,Investing Appraisal Techniques,Kaplan Financials Ironss, A. ( 2004 )Capital Investing Appraisal, ACCA Global hypertext transfer protocol: //www.accaglobal.com Kuronen T. , ( 2007 )Capital Budgeting in a Capital Intensive Industry,Helsinki University of Technology McLaney, E. ( 2006 )Business Finance: Theory and Practice, 7ThursdayEdition, Pearson Education Pike, R. and Neale, B. ( 2006 )Corporate Finance and Investing: Decisions A ; Schemes,Pearson Education Sangster, A. ( 2006 )Capital Investment Appraisal Techniques: A Survey of Current Use, Journal of Business Finance A ; Accounting Vol. 20, Issue 3, P. 307-332 Jahnke, H. and Simons, D. ( 2008 )A Rationale for the Payback Criterion: An Application of Almost Stochastic Dominance to Capital Budgeting,Social Science Research Network Watson, D. A ; Head, A. ( 2007 )Corporate Finance: Principles and Practice, Pearson Education 1

ATOM PRIOR TO 1900 essays

ATOM PRIOR TO 1900 essays In the 5th cent. B.C. the Greek philosophers Democritus and Leucippus proposed that matter was made up of tiny, indivisible particles they called atom, or in Greek "a-tomos". The reason why they assumed this is because nothing can come from nothing. Democritus believed that all atoms were firm and solid, but they could not all be the same. If all atoms were identical, there would be no satisfactory explanation of how they could combine to form everything in different shapes. Democritus concluded atom with these ideal qualities: invisible because of their extremely small size indivisible as their name indicates eternal because they are perfect surrounded by an empty space (to explain their movement and changes in density) having an infinite number of shapes (to explain the diversity observed in nature) Around 1803, John Dalton (1766-1844) developed the first useful atomic theory of matter. In the course of his studies on meteorology, Dalton concluded that evaporated water exists in air as an independent gas. Solid bodies can't occupy the same space at the same time, but obviously water and air could. Dalton reasoned that if the water and air were composed of discrete particles, evaporation might be viewed as a mixing of water particles with air particles. He performed a series of experiments on mixtures of gases to determine what effect properties of the individual gases had on the properties of the mixture as a whole. While trying to explain the results of those experiments, Dalton developed the hypothesis that the sizes of the particles making up different gases must be different. In 1808 Dalton's A New System of Chemical Philosophy was published. In this book he listed the atomic weights of a number of known elements relative to the weight of hydrogen. His weights were not ent irely accurate but they form the ba ...

ACT School Codes and College Codes for Score Reports

ACT School Codes and College Codes for Score Reports SAT / ACT Prep Online Guides and Tips Have you taken the ACT or will you be taking it in the future?If so, you may have heard of ACT college and school codes. These codes are used to ensure that your ACT scores get sent to the proper school. Read on to learn everything you need to know about them. What Are ACT College and School Codes? ACT college codes are four-digit codes used to differentiate between different schools.Each college and university in the United States has its own unique ACT code.ACT, Inc., the company that creates and distributes the ACT, uses these codes as a way to reduce miscommunication and ensure that student ACT scores are sent to the correct schools. What Are ACT College and School Codes Used For? ACT college codes are used by ACT, Inc. to make sending official ACT score reports to universities easier and more accurate.When you register for the ACT, you have the option of sending your official scores to up to 4 colleges for free. Sending your ACT scores to a school lets them know you are interested in them. If you decide to apply to a school you sent your ACT scores to, those scores can be used as part of your application.The ACT school codes make it simple for you to choose which schools you’d like your scores to be sent to and minimizes the possibility of confusion there might be if you wrote or typed out school names. For example, if you wrote â€Å"Texas University† as one of the schools you’d like your scores to be sent to, ACT, Inc. wouldn’t know if you wanted your score sent to University of Texas at Austin, Texas AM University, or a different school entirely.ACT college codes help prevent this type of confusion. If you are sending SAT scores to schools, be aware that you cannot use ACT codes to do this.The SAT has its own list of college codes. ACT codes help reduce confusion when you choose which schools to send your scores to Where Can You Find ACT College and School Codes? While registering online for the ACT,there will be a section for you to enter up to 4 different school codes.When registering, you can search by code number if you already know the ones you need, or you can search for the names of the schools you’d like your scores to be sent to, and when you select them their school code will be automatically filled in on the registration form (see the screenshot below). If you’d like to look at the school codes before registering for the ACT or send your scores to more schools after taking the test, you can also search for ACT school codesand see the complete list of codes. If you’d like to send your scores to more schools after you receive your ACT scores, you can do so by calling, mailing, or submitting a request online.You do not need to have any codes memorized on the day of the ACT. That's one less thing to worry about! Note that while you can send your ACT scores to up to four schools when you register for the test, after those four schoolsthere is a charge (usually $12) for each additional school you choose to send your scores to. Summary ACT college and school codes are used to make sending your score reports to colleges easier and less confusing. ACT, Inc. has assigned each college and university in the United States a unique four-digit code. You will pick up to four schools you'd like your scores to be sent to when you register for the ACT, and you can also send additional score reports after you take the test. If you also want to send SAT scores to schools, you'll need to use a different set of codes. What's Next? Trying to get a high ACT score?Of course you are! We have a list of 21 tips to help you raise your ACT score! Wondering how you should study for the ACT? We've compiled a list of the best ACT prep websites that you should be using. What other information is important to know before taking the ACT?Check out our guide on the ACT rules you need to know before taking the exam. Want to improve your ACT score by 4+ points? Download our free guide to the top 5 strategies you need in your prep to improve your ACT score dramatically. Have friends who also need help with test prep? Share this article! Tweet Christine Sarikas About the Author Christine graduated from Michigan State University with degrees in Environmental Biology and Geography and received her Master's from Duke University. In high school she scored in the 99th percentile on the SAT and was named a National Merit Finalist. She has taught English and biology in several countries. 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Evaluate the role that both emotional intelligence and gender play in Essay - 1

Evaluate the role that both emotional intelligence and gender play in influencing an organisations leadership style - Essay Example Moreover, understanding emotions involves how varieties of perceived emotions have different meaning such as angry emotions and their meaning. Lastly, managing emotions involves ability to regulate these emotions and responding appropriately to the perceived emotions (Robitaille and Union Institute and University, 2008, p. 28). Gender includes male and female; leadership has been a male-dominated area for a long time, forcing women to hold minority positions. According to Carli and Eaglya (2003, p. 808), leadership has been assumed to be a masculine task; however, the feminine qualities of co-operation and mentoring have been ignored. It is important to note that men as well as women can be effective in leadership as long as they portray good leadership qualities and adopt an effective leadership style. Needless to say, being more emotionally competent fosters growth in any given task, despite the gender. This essay will discuss the role played by emotional intelligence and gender in influencing an organization’s leadership style. Emotional intelligence is vital in leadership, as it assists the present leaders in dealing with the challenges that arise. According to Gruszka, Matthews and Szymura (2010, p.109), â€Å"intelligence represents an individual’s overall level of intellectual ability.† Needless to say, emotionally intelligent traits are on demand in organizations. According to Sykes (2008, p.3), emotional intelligence traits are vital in solving problems and making effective decisions when managing people in the place of work. Today, majority of organizations do not accept the dictatorial style of leadership, and therefore, leadership is evolving and adapting the democratic style of leadership. As a result, an empowered workforce exists, which requires a matching leadership style; it is rather evident that leadership effectiveness is determined by the type of leadership style used. Mis-using, under-using, or

Meritocracy Rule by the best Essay Example | Topics and Well Written Essays - 500 words

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Care plan Essay Example | Topics and Well Written Essays - 750 words

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Social Responsibility and Financial Performance Literature review

Social Responsibility and Financial Performance - Literature review Example In order to conduct a literature review, two main themes are being highlighted including the relationship of CSR and financial performance and the relationship of CSR and Shareholders Value (Aras et al., 2010). A literature review is carried out by incorporating conceptual and theoretical frameworks (Aupperle et al., 1985). The theoretical framework provides relevant theories and models associated with corporate social responsibility and its impact on financial performances and shareholders’ value. The conceptual framework would improvise the need for research on the basis of previous researchers by various scholars and be examining their objectives, the methodology adopted and research findings. This provides insight on how different variables identified in themes chosen are linked together and are a significant part of in the corporate sector. The emergence of corporate scandals, financial responsibilities, and environmental threats has sensitized the society to be concerned with the social and ethically responsible behavior of companies. The concept of Social Responsibility (CSR) refers to the role of businesses towards the society. Cane and Matten (2010) in their study highlights, ‘it is by now fairly widely accepted that businesses do indeed have responsibilities beyond simply making a profit’ (Crane & Matten, 2010). A number of concepts such as Corporate Citizenship, Corporate Sustainability, and Corporate Social Responsibility are listed with regard to social responsibilities.  

Essay For Bursary Example | Topics and Well Written Essays - 1000 words

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Social Responsibility and Financial Performance Literature review

Social Responsibility and Financial Performance - Literature review Example In order to conduct a literature review, two main themes are being highlighted including the relationship of CSR and financial performance and the relationship of CSR and Shareholders Value (Aras et al., 2010). A literature review is carried out by incorporating conceptual and theoretical frameworks (Aupperle et al., 1985). The theoretical framework provides relevant theories and models associated with corporate social responsibility and its impact on financial performances and shareholders’ value. The conceptual framework would improvise the need for research on the basis of previous researchers by various scholars and be examining their objectives, the methodology adopted and research findings. This provides insight on how different variables identified in themes chosen are linked together and are a significant part of in the corporate sector. The emergence of corporate scandals, financial responsibilities, and environmental threats has sensitized the society to be concerned with the social and ethically responsible behavior of companies. The concept of Social Responsibility (CSR) refers to the role of businesses towards the society. Cane and Matten (2010) in their study highlights, ‘it is by now fairly widely accepted that businesses do indeed have responsibilities beyond simply making a profit’ (Crane & Matten, 2010). A number of concepts such as Corporate Citizenship, Corporate Sustainability, and Corporate Social Responsibility are listed with regard to social responsibilities.  

Cap task3c Term Paper Example | Topics and Well Written Essays - 5000 words

Cap task3c - Term Paper Example A log of time spent with the client 28 References 30 MBA CAPSTONE PROJECT 3.0 Functional areas The three functional areas upon which the problem is based include financial planning, research and development, and leadership. These are discussed as follows: 3.1 Financial planning This project will require substantial funds to be spent on purchase of sophisticated equipment that is used in implementation of image segmentation technique. Before the project is approved, an appropriate budget estimate has to be approved, but that will require adequate justification of all the important expenditure – the project cannot be approved without proper justification of budget estimate. This will be a tasking process keeping in mind that budgeting requires specialized accounting knowledge, but I will make efforts to put up a team with diverse knowledge and skills to help in areas that require specialized attention. 3.2 Research and development This project entails extensive investigation in order to arrive at the most effective scientific method of screening, which will potentially phase out the old techniques that have somewhat hampered treatments and screening of breast cancer in Mt Sinai Hospital. Investment in R&D of this magnitude will require hefty budgetary allocation, and the project committee in charge of approving the project must be convinced the expenditure that will be channeled towards R&D will be recovered in the long-term, otherwise the project will be considered ineffective. 3.4 Leadership Successful implementation of this project will require the project manager together with his/her team to work productively and as a united team in order to ensure effective and smooth implementation process. Despite financial and time constraints, the expectations of the project are quite high and hence very high leadership qualities are required to ensure all aspects of the projects are balanced. Most importantly, effective implementation requires a cohesive team, w hich is not possible without the right leadership. 4.0 Business Case Breast cancer is caused by genetic mutation of cells that are produced within the milk-producing lobules, which results to their abnormally quick growth. This project has been hatched with the realization that breast cancer can be treated easily if the hospital is in possession of modern and more sophisticated equipment - which aids in highly accurate screening tests 4.1Primary justification Breast cancer is a leading cause of deaths in Mount Sinai Hospital. Additionally, it is a matter of fact that breast cancer is the leading form of cancer that is killing many women in Mount Sinai Hospital as well as all other hospitals in the world. It is, therefore, very important for the hospital management to consider introduction of an image segmentation facility to help with early warning of breast cancer, because this is literary the key to improving breast cancer diagnosis in the hospital. Image segmentation use contours on the region they are positioned on to find the features of an image. As illustrated in figure 1, introduction of screening in US has increased breast cancer incidence, and this will be a primary benefit of this program. Fig 2?Incidence of invasive breast cancer per 100?000 women in the US 4.2 Performance gap and the expected benefits One of the most common screening methods used