Purpose Of Foreign Exchange Risk Hedge Finance Essay - Free Essay Example

Sample details Pages: 9 Words: 2830 Downloads: 10 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Did you like this example? This report has been produced as a request of the course International Financial Management. This report has been developed in three segments. Part one explaining the factors related to hedging and the alternative techniques available. Don’t waste time! Our writers will create an original "Purpose Of Foreign Exchange Risk Hedge Finance Essay" essay for you Create order It also brings into consideration the factor that the CEOs request of the techniques have also been brought under and compared. Part two has compared all three selected options and has produced the final selection. Last part has a comparison of the forward and option derivatives. Part (a) Explain the purpose of hedging foreign exchange risk and describe the alternative hedging techniques available, particularly the processes involved for each of the three hedging approaches preferred by the CEO and referred to above. Foreign exchange risk comes in when companies start dealing across boundaries and they find dealing in foreign exchange. The common dealing that happens among companies Is when taking receivables and giving payables. Following transactions always takes place in foreign and home currency and the rate involved is the risky factor. The risk involved in the factor is that before the transaction has happened the exchange rate might fluctuate and change in such a scenari o the company might end up losing money  [1]  . The difference paid between two countries currency is called foreign exchange risk. The currency of one country when sees a fall there will always be a gain in another countries currency value, this depreciation and appreciation between currency values can occur drops in value. Depreciation takes place when purchasing of another currency requires more of the home currency. Appreciation is just the opposite; the currency is able to purchase more units of the other countrys currency. Nearly all currencies are valued according to the rate in the market so the exchange rates keeps on fluctuates. This risk is the exchange risk and hedging is one solution to cover it up. There are many ways to reduce this risk but the two popular approaches used very commonly are called hedging and netting. Hedging is when u buy a forward contract in a date in the future this is done to cover the liabilities occurring in the future. Forward exchang e contracts are often used to cover the risk of foreign exchange fluctuations. Apart from hedging another popular technique very commonly used is called netting. Netting is used to maintain equal levels of foreign exchange as compared to equal levels of payables. This would help you to net out the effect and the difference between the two hence the result would be zero and the company would not incur any loss. Using this technique the buyer and the seller both can be at advantage, if the buyer nets at a good rate than he would be able to earn more and same goes for the seller he can also earn a lot. This technique helps both the buyer and the seller. There are many other ways of dealing with hedging which can be options, futures forwards. Further in this answer I will elaborate each one of them one by one. The only differences between each of them are the related requirements and the costs associated with each one of them. The cost of one can be very high as compared to anothe r one at a certain time period and vice versa. If a company is having foreign exchange risk than they would certainly want to compare a number of techniques and see whether which one of them is profitable and which one is not. Purpose of Foreign Exchange Risk Hedge In normal words speaking the purpose of any hedging technique is to help the investor protect against any such events in the future that will cause him/her to lose their investment. When it comes to currency then thee simple idea is to simply either convert or exchange the currency to cover the risk. While keeping in mind the exchange rate one would want to hedge and save themselves by changing into another currency that would provide them cover. For example, instead of trying to pay for shares of a companys stocks which is in the UK but is paying in US dollars, the investor will look to first make a conversion into Pounds and then later see to make it into the united states dollars, once the conversions are done only than purchases can be made. To further protect themselves the investors might also look up selling the purchased shares on a particular date. Alternative Techniques 1. Futures A future contract is a standardized, transferable, exchange traded contract that requires delivery of a commodity, bond, currency, or stock index at a specified price, on a specified future date. Generally the delivery does not occur instead before the contract expires the holder usually square their position by paying or receiving the difference between the current market price of an underlying asset and the price stipulated in the contract. Specifications of a future contract The future contract itself tells why it is being used to sell and purchase, it also defines the way in which the contract would take place. A future contract would define it as: It will tell a fixed amount of commodity or any other thing that is being traded. (e.g, 5,00 bags of rice, 100 Euros, dollars etc.) It would also define the quality of the commodity being traded (this might not be true for all sort of commodities thus needs to be adjusted accordingly; currencies if used in the transaction do not have various levels quality and thus stay plain as they are). The rules for price adjustments would also be defined be the future contract for commodities and price would be adjusted accordingly to quality which can be of a specified rating. The minimum amount of fluctuations that the contract can bear would also be mentioned. The contract would also define the day of delivery and the way the possession would be taken would be defined too. The contract would furthe r define the per unit price. Finally the number of days i.e. the hours and the time would also be explained about how much time would be taken for the exchange to happen. 2. Currency Swaps  [2] A currency swap is something in which two investors exchange a particular amount of currency for another one for a particular time period and this amount is used agreed between two parties. Once the agreement gets over both the parties give back the original sum that was exchanged between both of them. To take care of legislations for currencies all over the world the currency swap is an efficient and useful technique. A currency swap can have a maturity up to 30 years maximum. According to international accounting standards the currency swap would not be considered as a loan hence if it is not a loan than it would not ever appear on the liabilities or any other part of the balance sheet. Rather it appears as a foreign exchange transaction with a forward contract so that it can be closed. All the funds involved in the transaction are paid  [3]  . It is not a very common transaction that happens instead companies use it to service debts as well. This technique can also be used to get better cash flows in which one company borrows at a lower cost in one currency and then exchanges it for a debt to another company which really desires to get some. In this way both the companies can earn easily and improve their cash flows  [4]  . Advantages The main advantage of getting into a currency swap is that you can keep negotiating it for a longer period of time rather as compared to a normal swap. Entering the swap can help the parties to fight against factors such as fluctuation of both interest rates and currencies. Even a better access to the local market can be gained via doing so. When companies tend to do so in currency swaps they can easily cope up with their currency rate risk and exchange rate risk too. The extra benefit gained from doing currency swaps is that they can help reduce the   counterparty risk, whihch comes from bid and ask price. By default it can be said to combine with interest rate risks and currency swaps can help avoid them. The terms can also set up asking either a fix or a floating rate thus the flexibility of the terms can also help to focus. Disadvantages The benefits are good but the disadvantage is the cost that is involved in such transactions and along with them the settlement and the un settlement risks involved in it. The biggest risk involved in doing a currency swaps is that the other party might fill up their obligation and in this case the main party might end up losing money, yes legal actions can be taken but in some cases they remain in vain  [5]  . The other disadvantage is that one of the party might want to quit the transaction before time, the party that remains should have an approval of the other party and thus can decide upon which exit strategy needs to be taken, same is the case when it comes to futures and forwards that the exit strategy must be pre decided between both the parties. Following can be some ways of taking an exit: Entering into an offsetting swap Selling the swap to a  third party Purchasing a swaption. 3. Options An option is a contract but not an obligation and the holder of the option might or might not use it on the date of the option, the price of the use is already predetermined. An option can be either a put option or a call option. A put option will allow the holder to sell a particular security on the date of maturity for a desired price, while the call option will allow the holder to buy it. It is also defined in some places as a promise by the issuer to the holder to fulfill a particular price on a particular date, the risk is that the price can be higher or lower on the desired date. It also protects the offeere from the offer to revoke it . Still careful consideration is required as still it is a type of contract. Typically, an offeree can provide consideration for the option contract by paying money for the contract or by providing value in some other form such as by rendering other performance or  forbearance  [6]  . CEOs Requested Techniques 1. Forwards Forwards are rather similar contracts between two parties in which they decide on a particular asset to be sold on a price on a future date.  This is similar to a spot in contrast, sots asks to sell the asset on date today but forwards decide a date in the future. The costs for a forward contract is nothing. The party looking to buy the asset would be looking at a longer termed position, while the seller will see a shorter termed position. The price agreed upon is called the  delivery price, which is equal to the  forward price  at the time the contract is entered into  [7]  . 2. Money Market Hedge Money market hedges refers to things where techniques are used to lock in particular rates related to foreign exchange and cash equivalents. Even after having the design to hedge against risk they have a particular set of risk involved with them. Some of the shortfalls of a money market hedge are complexity and disclosure which are further elaborated below: Complexity Hedging strategies are mostly misunderstood due to their complexity levels apart from the market insiders common people do mix them. The commonly used money market hedges are futures, forwards, options, swaps etc  [8]  . Furthermore the complexity adds on when the people involved and responsible for financial engineering keep on rolling out new ways of hedging making the entire process more and more complex. The second most common issue is the selection of the appropriate hedge for an appropriate situation making things difficult. Disclosure Disclosure has always been an issue with derivatives. The disclosure issues more because of the rapid pace at which they are traded all over the place. If the investors trust shakes in a particular institution they tend to liquidate very rapidly this can cause a market or a institution to shake. This is one main reason that the impact remains unknown. 3. Billing in US Dollars First of all this is not a hedging technique. This is just a billing technique where by a company invoices its clients in US dollars by using the current spot rates. The spot rate in our case is mentioned in the data which is 15.3555 as we have shown in our calculations in the next part. Part (b) Show your calculations of the expected proceeds in dollars after six months using each of the three chosen hedging approaches respectively and indicate which of them you would recommend and explain why. Calculation of Expected proceeds in US$ The expected proceeds from each of the 3 methods are calculated as Billing in US$ The company will use the rate 15.3555 (Peso/USD) to bill the other party in US dollars. The expected proceeds will be calculated as follows: Expected proceeds in US $ in six months=500M /15.3555= $ 32.56162287M Six Month Forward Rate Contract If the company engage in 6 month forward rate contract then the expected proceeds will be calculated as: Expected proceeds in US $ in six months= 500M/15.0134= $33.30358213M (Using Forward Rate Contract) Money Market Hedge If the company is interested in money market hedge the expected proceeds will calculated using these steps: The company first borrow peso @ 1.3% (for 6 month borrowing rate in Mexico) which is [500M/(1.013)]= 493.5834156M Peso The company will convert US dollars @ 15.3561 exchange rate which will result into 493.5834156M/15.3561= $ 32.14249813M Now deposit $32.14249813M in US bank @ (1.55% for 6 months) which will result into $32.14249813M *1.0155= $ 32.64070685. After a year the company will receive its 500M peso and will adjust its loan of 500m peso with the Mexican bank. Recommendation My recommendation is the six month forward rate contract as this is the one which is more appropriate than any others. This gives maximum returns to its investors and covers their six months return. Part (c) Critically assess the features which distinguish forward exchange fixed contracts and forward exchange option contracts. To distinguish forward exchange contracts from option contracts we will critically analyse both forward exchange fixed and forward contracts. Forward Exchange Fixed Contract A forward exchange contract is a contract to conduct a transaction at a fixed rate of exchange on either a fixed future date or during a fixed period of time. Forward exchange contracts help to manage the risk of foreign currency denominated payables or receivables. By entering in to a forward exchange contract, we are benefiting of locking in the rate of currency exchange to mitigate the risk inherent in a future payments obligation. Some of the advantages and disadvantages of forward contracts will be highlighted to understand its characteristics. Advantages Some of the advantages of forward contracts are as: Protection against unfavourable exchange rate fluctuations. The exact values of the import and export orders can be calculated on the day it is processed. Budgeting and costing are accurate. It can be written for any amount and term. Offers a complete edge. They cater for a diverse type of commercial and financial transactions and both importers and exporters can make use of it. Disadvantages Company cannot take advantage of preferential exchange rate movements once entered into forward exchange fixed contracts. If an order is cancelled or there is any surplus amount outstanding on a forward exchange, it must be surrendered at the prevailing spot exchange rate, which can result in a financial loss. Early deliveries, extensions, surrenders and cancellations during the fixed period of a forward exchange contract are done on a swap basis causing additional administration Difficult to find a counterpart (No liquidity) Requires typing up capital Subject to default risk. Forward Exchange Option Contracts A forward exchange option contract is different from forward fixed contract as in option contract the buyer of the option has the right but not the obligation to buy or sell a specified currency or stock at a specified exchange rate, at a specified date from the seller of the option. There are two types of options, one is called Call Option and the one is called Put Option. Call Option- It gives the right to buy a specified currency or stock at a specified exchange rate at specified date. Put Option- It gives the buyer the right to sell a specific currency or stock at a specified exchange rate at a specified price. Advantages The main advantage of forward exchange option is flexibility. Secondly in options there is neither initial margin nor daily variation margin as the position is not market to market. Due to it many companies enjoys significant cash flow relief. Disadvantages Some of the disadvantages of options are Written for fixed amount and terms Subject to basis risk Offers only partial hedge

Eastern Michigan University Community University

Eastern Michigan University Eastern Michigan University is public university located in relatively unknown city of Ypsilanti, Michigan. Ypsilanti is east of Ann Arbor and west of Detroit. The university was originally founded in 1849, but today is one of the state’s most popular higher learning institutions. There are seven academic divisions that offer over two hundred undergraduate degrees through the popular Colleges of Business, Education, Technology and Human Services. There are 5,000 graduate students and a total of 23,000 students who attend Eastern Michigan University. Eastern Michigan University’s Extended Program brings quality classroom education to extension sites and online learning settings. The university offers evening,†¦show more content†¦Eastern Michigan University Application Requirements All graduate applicants must meet the following admissions requirements: a regionally accredited four-year degree and a GPA of at least 2.7, but some departments require higher GPAs, such as a 3.0 in the final half of the student’s undergraduate program. Those who fail to meet the minimum admission requirements are considered for admission on a conditional basis. Students must submit official transcripts from previously attended colleges and additional documentation, which is determined by the academic departments. These include department applications, letters of recommendations and standardized test scores. Bachelor of Science in Nursing (BSN) Completion program only admits students who hold a current RN license, have a GPA of at least 2.5 or above and have successfully completed a college level course in English composition. Nursing program candidates who have earned previous nursing credits at other colleges may submit a transfer request to the admissions advising office. Those who have a RN license and a bachelor’s degree in a different discipline must meet with a second-degree advisor in order to be considered for the program. The online Master of Arts in Educational Psychology requires a minimum cumulative GPA of at least 2.75 GPA. Graduate students must have at least a 3.3 GPA in the last half of their work and a minimum 50th percentile on the GRE writing portion. An official analysis of

Pip Letter free essay sample

It was a dark and stormy night, the lights were low, everyone was asleep, and I could hear a groaning in the house. I made my way to the kitchen when suddenly BAM! I smack right into someone! I start screaming and totally freak out, that is, until I realize who the person is. Of all people, the person breaking into my house was none other than the CONVICT! He manages to calm me down and promises not to hurt me, but I did make him explain himself. He tells me that he is my benefactor! I couldn’t believe what I was hearing! The convict I met when I was little, who I had all but forgotten about up until now, was responsible for a major change in my life? I had to sit and breath, as this was a lot to take in. The convict told me his name was Magwitch, and that he had been working all these years to get enough money to make me a gentleman, to repay me for getting him a file and that pork pie. We will write a custom essay sample on Pip Letter or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page My friend, Herbert, came sprinting down the stairs as he had also heard the commotion. After everyone was done talking, I had to take Magwitch into town, and let me tell you, sneaking a convict around is a lot harder than you would think, especially when they want to buy everything! Magwitch has been living with us for a few days now, and he tells me an interesting story. He tells me about his criminal friend, a man named Compeyson. Compeyson hadn’t gotten nearly as serious of a punishment as Compeyson was respected and looked rich. This bothered me and Magwitch, so we vowed that we would find compeyson, and make him pay.

Things about me Essays - , Term Papers, Research Papers

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The Elizabethan Times essays

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Enrons Collapse and Ethical Framework Essay Example | Topics and Well Written Essays - 2250 words

Enrons Collapse and Ethical Framework - Essay Example This essay discusses the collapse of Enron company, that presented the social scientists, media and business professionals with several other ethical issues that are prevailing in the business world. The collapse of Enron meant that many employees who were working really hard would also lose their job. The investors or the owners of the company were faced with the ethical dilemma of whether to hold on to the stock and lose their money or to support the company for the sake of hardworking employees who had nothing to do with these frauds. The increase in power of auditors was another source of concern. The Laws that were legislated in response to the corporate failure were a fair attempt to institutionalize the ethical behavior. The harsh laws were implemented for executives trying to mislead using wrong or far-fetched financial figures. It also increased the terms jail sentences for executives that were found to have been involved in any abuse of their power. Auditors can now blackma il the accountants or people working in finance and abuse their power. This will lead to further problem for the companies and create further ethical issues. Both of these issues are related to truthfulness. The employees who are being fair in their work are losing their job despite being truthful and that is something iron. Similarly, auditors require to be truthful the shareholder and the committee that oversees their work. If they are loyal to them then no ethical issues will occur from the increase in power of auditors.

Research papers Paper Example | Topics and Well Written Essays - 500 words

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Plans and direct actions Essay Example for Free

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People under him follow his way of life; a church leader gets people to act on church and mission goals, and he also ministers the need of people. A Church leader humbly realizes that he needs Gods help and needs it in developing good plans that will work for others. These working plans then successfully meet the desired goals. A church leader does not build plans for other people to merely honor them, but he does it for the good of his people with everlasting results. UNCHANGED LOYALTY A church leader demonstrates loyalty that never changes. A church leader is faithful to his promises and duties. He never finds fault in his job; people respect him as a man of God living among them. A church leader gives his life to Gods mission and purpose and spends his entire life doing it. Loyalty being a leadership quality, a church leader is always loyal to God and his people. A church leader needs loyalty to start and grow a church or group. A loyal church leader is the base of a healthy church to grow and a key element for a church to produce other churches. A church leader influences others in his ministry through his loyalty to Jesus Christ as the Savior and Lord. A loyal church leader produces loyal members he starts and finishes his job with his team very well. A successful Christian leader is always keen and willing to work with a community or groups. He has a strong desire to develop community services together. USE OF GOD’S GIFTS God has gifted all people with different abilities and characteristics. Nowadays, this divine gift directs people to serve churches, as ushers, church school teachers, financial officers, directors of food pantries, youth leaders, and in so many other roles. It all starts with gifts, which can be utilized in a variety of ways. Gifts are given by the God to everyone. The God doesn’t limit the gifts to his people, so we shouldn’t limit leadership to others. The potential to lead by using gifts for enabling others in ministry does not requires intelligence, education, economic status, age, gender, or any other human distinction. â€Å"Children and youth, as well as adults, all are gifted. Women and men, boys and girls have all been gifted which they can use in leadership of a church. It does not mean, however, that everyone should be an administrator of a church†. Gifts are several and of different nature, the variety of these gifts is much greater than churches usually realize. There are many gifts beyond the gifts that are usually used in preaching, teaching, and committee work. If one is to use all God given gifts for his leadership within a church, he/she must discover that wide range of gifts, and welcome the spirit to employ them. It is not always an easy task for a human to identify gifts since gifts have strange way of hiding themselves, particularly from those people who hold them. God’s given gifts are so much a part of our personality that people not likely to think of them as gifts. For example, if a person is a good organizer, he must recognize this specialty and take it as a gift given by God. As God’s gifts are discovered by interacting with others. However, discovering gifts is not enough because many people use there gifts haphazardly, with no attention to their development. God’s given gift’s effectiveness can be significantly enhanced through intentional development of them. For example, if a person with natural painting ability can choose not to practice or take lessons and keep his ability as hobby and keeps his gift undefined from being fully utilized for service. The church leaders provide opportunities to people for training and development of Gods given gifts. They are intentional about using these gifts of children and youth in future leadership. The church leaders encourage their members to affirm and identify one another’s gifts. 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The Automobile and the Environment :: Business and Management Studies

The Automobile and the Environment a) Negative externalities are impacts on 'outsiders' that are disadvantageous to them. The externalities occur where the actions of firms or individuals have an effect on the people other than themselves. In the case of negative externalities the external effects are costs on other people. They are also known as external costs. There may be external costs from both production and consumption. If these are added to the private costs we get the total social costs. An example of negative externalities would be the side effects of production processes e.g. the pollution (noise, dust, vibration) endured by people living next to a quarry. b) From looking at the data we can see that since 1974 the cost of public transport has increased quite rapidly relative to the base rate of 100 compared to the cost of motoring which has steadily decreased. Initially it was the real cost of motoring which increased but by 1975 it had started to decline and continued to do so until the late 1970's. It then increased quickly for a short period until 1982 ending up just above the base rate and remaining there until 1985. It then steadily declined up until 1994. Public transport on the other hand has been increasing since 1974. The real cost of rail travel has increased steadily with a few dips ending up in 1994 at just over 165. The real cost of bus travel has also increased over the 20 year period but more gradually with a sharp rise in 1988 followed by a fall in 1990 but then a final increase ending up in 1994 at just over 140. c) The fact that the cost of oil/petrol fell over the 20year period of 1974-1994 and the cost of public transport rose is why there is such a big gap between them. The cost increases and decreases could have happened for a number of reasons. The cost of petrol decreases when supply is greater than demand or when demand is low. Transport costs could have rose if the demand is too great for it or to increase revenue for councils/government. If public transport needs to be modernised/repaired than also putting the prices up enables extra revenue to spend on these things. d) The classic way to adjust for externalities is to tax those who create negative externalities. This is sometimes known as 'making the polluter pay.' The government needs to assess the cost to a society of a particular externality. It then sets tax rates on those externalities equal to the value of the externality. This increases costs to customers by shifting the supply curve to the left.

The Outsider’s

How would you like it if people considered you to be poor or rich? The outsiders is a novel of conflicts and is about two teen gangs that live on different sides and the country. Greaser's against socks in other words the poor against the rich. The book by S. E. Hilton and is about how the rich kids call the poor kid's socks and get beat up. Pony boy is a 14-year-old teen boy that is a sock and gets beat up quite a lot. Pony boy is really sensitive, intelligent and observant. â€Å"Pony boy reminds me of a house cat hat always know what's going on†.Body Paragraph 1 Throughout the novel pony boy is really observant because many different reasons that I will explain. He might not have that much common sense but he always knows what's around him and what's going on whatever the situation is. In the book his brothers say â€Å"he might lack a bit of common sense but he always knows what's happening†. This is really true it's like he keeps an extra eye somewhere and is one o f a kind. Also he is observant because in the book he says this mfou take up for your uddies, no matter what they do.When you're a gang, you stick up for the members. If you don't stick up for them, stick together, make like brothers, it isn't a gang anymore. It's a pack. A snarling, distrustful, bickering pack like the Socks in their social clubs or the street gangs in New York or the wolves in the timber. â€Å"(34) he is helping has brothers and the greasers and is observing and telling them before hand what they are. Body Paragraph 2 In the other hand pony boy is a really sensitive kid in this novel.When something oesn't go right has emotions well let loose and you will easily find out what kind mood he is really in. In the book it says â€Å"don't cry pony don't cry we'll be okay (75)†. Pony boy is in bed with soda and soda says remind about last night and pony starts tearing up and tells him to shut up. Another reason why I think he's sensitive is because in the book i t says â€Å"l wanted to cry, but Greasers don't cry in front of strangers. Some of us never cry at all. Like Dally and two-bit and Tim Shepard–they forgot how at an early age. 102) Pony was in the hospital and has throat was hurting and he was thinking of has brothers and was about to cry but kept it together because strangers where there. Body Paragraph 3 Finally pony is a really intelligent person you might think he's not but he sure is. In school he gets really good grades and is the best student from all the characters he excuses Darry tor getting bad grades and not doing g â€Å"He is always having a nose in a book. (13)† That's what Darry and has brothers say about pony boy in the novel would always read and loves doing it.Also he is a good writer to he gets put in the A class. Also his brothers say that he is really good in school and stuff but his street smarts aren't so good and don't really have any. Conclusion In conclusion pony boy is Just like house cat that always knows what's happening and might do something bad here and there. Overall pony boy is a good house cat that knows what to do most of the time. Finally remember it doesn't matter what people consider you poor or rich you are what you are and let people think what they think.

Gossamer Book Report

Gossamer Plot Gossamer begins with the protagonist, Littlest being taught how to give people dreams by her instructor Fastidious. Littlest’s childish and playful nature annoys Fastidious greatly. At their home, the Heap, Fastidious complains about her student to Most Ancient, who is the leader. Most Ancient and Fastidious decide that Thin Elderly will become Littlest’s mentor. Littlest is part of a small colony of dream-givers. Through touching, they gather fragments such as colors, words, sounds, and scents. They then combine the fragments to become dreams, and give the dreams to humans, and sometimes pets.The giving of dreams is called the bestowal. Thin Elderly explains to be gentle in the touching and not to touch too deeply, because a dream-giver who picks up bad fragments of a memory becomes a Sinisteed, a horse-like creature who inflicts nightmares. Thin Elderly gladly discovers that Littlest has the â€Å"gossamer touch†, the ability to gather and bestow gently. An elderly woman and her dog Toby live in the house Littlest and Thin Elderly are assigned to. The woman decides that she is going to take an eight-year-old boy named John into her household. The social workers describe him as â€Å"angry. Another dreamgiver, Strapping, is assinged to give dreams to the boys mother. She was an intelligent woman, but was forbidden to participate in social and intellectual events by Duane, her abusive ex husband. John was taken away from her because it was not a good environment for a child. When John arrives at the woman's home, he acts violent and angry. The woman acts kind and tries to be understanding. At the dream-givers' Heap, Most Ancient reports that the Sinisteeds are gathering, intent on a particular victim. That night, Littlest and Thin Elderly hear a Sinisteed enter through the walls of the house. It inflicts John with a nightmare.He cries out in his sleep, and the woman calms him by reminding him of a happy memory. after, Littles t and Thin Elderly gather comforting fragments to help strengthen him after the nightmare. During the day, john’s mother talks on the phone, asking to have a receptionist's job and salary. She tells the listener to tell her son that he will be back home soon; that she loved him; and that she dreamed of him last night. H That night, Littlest decides she must touch the dog, trying to get fragments from him. Thin Elderly protests, because they aren’t supposed to touch living creatures, but allows her to do so.Littlest notices how attatched John was to a pink seashell, to Toby, and to a chrysalis he had found.. She gathers fragments from Toby, and bestows them as part of a dream. Thin Elderly is proud of Littlest's bestowal, because John is happy in his dreams. Littlest explains that the fragments she collected had a bit of a story in each one, which she put together in her mind. Johns mother begins working a school. She reflects on how bad her old life was for her son, Jo hn, because of Duane. She has hope now of making friends, which Duane had not allowed her to do. Strapping is satisfied with his work.Strapping discovers he has a liking and a hope for the woman. Accordingly he gives her dreams of hope, and of a future with her son. John tells a story to the woman about a young boy who ate dog food, because he had been ordered to by his father, who had seen the boy run naked through the house and pee on the floor. The father had accused the son of acting like a dog, and gave him dog food for all his meals. The woman realizes that John is telling a story about himself, explaining his past abuse. T That night, Littlest and Thin Elderly discover that a Horde of Sinisteeds are going to give nightmares to John and the woman.They respond by bestowing strengthening dreams. They are nearly killed in the stampede of the Horde. That is the story's climax. John begins school, and has become a much happier child. Littlest is given a medal for her work. She is t old that she is to be reassigned. She wishes to remain assigned to John, whom she has come to love and cherish, but is told that dream-givers are not allowed to feel human emotions. Littlest One's experience with the boy has helped her grow more mature, and as a result she is given the name Gossamer and given a new dream-giver, New Littlest One, to train.

Exam 2 Practice Questions Essay Example

Exam 2 Practice Questions Essay Example Exam 2 Practice Questions Paper Exam 2 Practice Questions Paper Essay Topic: Literature The basic principles of reinforcement are complex because Different people react differently to the same reinforcement, people are unable to repeat the desired behavior, and there are many potential reinforcers that must be considered Which of the following are guidelines for implementing behavior programs Consequences should be stated clearly, target behaviors must be defined in observable terms, behaviors should not be recorded In the study of a team of swimmers by Mckenzie and Rushall, An attendance board was used to track attendance at swim practice and the swimmers showed a significant increase in attendance after the intervention Feedback can provide instructional information about The specific behaviors to be performed, the levels of proficiency to be achieved, and the performers current level of proficiency in the desired skills According to the TARGET acronym, which of the following is not a measure to use to foster a mastery-oriented environment? Affiliation Which of the following statements are true? Every reward has both controlling and informational aspects to it, a negative coaching style (mostly critical in nature) can lead to a decrease in intrinsic motivation, and rewarding for mere participation in a sport will typically undermine the participants intrinsic motivation The study by Lepper and Greene investigating the effects of external rewards on intrinsic motivation of children found that The type of reward was important regarding its effects on intrinsic motivation and the expected-reward condition had the lowest levels of intrinsic motivation (compared to no reward and unexpected rewards) According to the results of Komaki and Barnetts study of a Pop Warner football team, The team performed three plays more effectively after the intervention A recent study (Amorose Horn, 2000) showed that changes in intrinsic motivation occurred primarily because of Coaching behaviors What is not a dimension of flow? High levels of arousal What is seen as the most extrinsically motivated behavior? External regulation Ryans studies on the relationship between scholarships and intrinsic motivation revealed that Wrestlers on scholarship exhibited higher levels of intrinsic motivation than wrestlers not on scholarship and female athletes on scholarship exhibited higher levels of intrinsic motivation than female athletes not on scholarship A study on reducing inappropriate tennis behaviors using behavior modification techniques revealed that Inappropriate behaviors were significantly reduced for all 5 players Which of the following is not true of reinforcement? The consequences of behavior are not as important as ones personality In a recent study on the relationship between holding scholarships and levels of intrinsic motivation in collegiate athletes, Amorose, Horn, and Miller found that Athletes on scholarship had lower levels of intrinsic motivation in general than did athletes not on scholarship An individual will have a higher level of intrinsic motivation when The informational aspect is more salient than the controlling aspect Which of the following is not one of the psychological needs included in self-determination theory? Confidence According to McAuleys and Tammens study on intrinsic motivation and subjective versus objective outcomes, Subjective perceptions of performance are the most important determinants of intrinsic motivation Backward chaining (as used by OBrien and Simek in their golf study) refers to Pairing the last step in a series of movements with the next-to-last step all the way through the movement until the second step is paired with the first step Which of the following statements are true regarding flow? Most athletes feel flow is a controllable state, athletes can learn to get into a flow state, flow is related to improvements in psychological states Besides rewarding the outcome of a persons performance (success), other areas that should be rewarded include Effort, emotional and social skills, and correct performance of the skill itself In a review of studies investigating the effects of performance feedback, it was found that performance increased approximately 50% Potential negative side effects of punishment include its Arousing a fear of failure, acting as a reinforcer, and hindering the learning of skills The additive approach to the relationship between intrinsic and extrinsic motivation suggests that Intrinsic plus extrinsic motivation equals more motivation Research by psychologists such as Edward Deci has shown that Extrinsic rewards undermined intrinsic motivation Behavioral coaching, behavioral modification, and contigency management have in common the goal of Structuring practices through the systematic use of reinforcement According to Weinbergs study on intrinsic motivation in a competitive setting, Success produces higher levels of intrinsic motivation than does failure and males exhibit higher levels of intrinsic motivation after success than after failure Flow is maximized when you are competing against an opponent Of equal ability Which of the following factors have been identified in preventing flow from occurring? Inappropriate focus, lack of confidence, and motivation to perform Receiving a reward that provides feedback concerning an athletes sense of competence is an example of The informational aspect of reward Rewards typically undermine intrinsic motivation when the reward is For mere participation, not tied to the quality of ones performance, and controlling in nature Which of the following statements are true? The amount of positive feedback is less important than receiving some type of positive feedback and getting positive feedback produces higher levels of intrinsic motivation than getting no feedback Most coaches approach reinforcement and punishment by A combination of positive reinforcement and punishment Shaping occurs when Rewards are given to behaviors that approximate the correct response Which of the following are factors deemed important to achieving flow? Confidence, maintaining appropriate focus, and optimal environmental conditions Which of the following is a competitive situation according to Martenss definition of the objective competitive situation? A runner competing in a 100-yard dash and a swimmer working out with his coach watching him Of all the experimental games used by psychologists to study the effects of competition and cooperation, the most often used game is Prisoners Dilemma The key part of Martenss definition of competition is Social Comparison In Kelley and Stahelskis study using the prisoners dilemma game, they found that Competitors drew cooperators into competition Which of the following is NOT a type of competitive orientation measured by the Sport Orientation Questionnaire? Fear-of-Failure Orientation Which of the following statements is (are) true? Varsity athletes are no different from nonathletes in terms of eventual career success outside of competitive sport. In the field experiments conducted by Sherif and Sherif, the experimenters first Created strong group identity Indicate any principle here that is NOT derived from the psychological studies on competition and cooperation People are born either competitive or cooperative. Coakley defines competition as A social process that occurs when rewards are distributed on the basis of comparative performance In relation to the subjective competitive situation (stage 2), which of the following is (are) true? Males score higher than females on win orientation; Females score higher than males on goal orientation; Athletes score higher than nonathletes in competitive orientation. Team sports of basketball and football are examples of which of the following classification of games? Cooperative MeansCompetitive Ends Which of the following behaviors would not support a cooperative learning environment? Extrinsic Rewards Emphasized According to Coakley, which of the following is (are) characteristic of unstructured youth sport? Personal involvement in the action is maximized; It provides opportunities to reaffirm friendships; Teams are relatively even. Which of the following is NOT a stage in Martenss model of competition? Social Comparison In his study of the effects of a 14-week program of cooperative games, Orlick found that Kids exposed to cooperative games engaged in three times as much cooperative behavior during free play as did kids in the control group and games played by the control group tended to emphasize individualistic concerns Deutschs study on competition and cooperation found that Communication patterns differed significantly based on whether subjects were given cooperative or competitive instructions; students receiving competitive instructions exhibited closed communication and mistrust; students receiving cooperative instructions communicated openly and shared information Coakley defines cooperation as A social process through which performance is rewarded in terms of the collective achievements of the group Which of the following is (are) characteristic of cooperative games? They require little equipment or money; They emphasize participation by all players; Players learn from mistakes rather than hide from them. Cooperative reward structures are more effective in which of the following situations? During work on tasks that are complex and that involve problem solving The first experiment investigating the effects of competition on performance was conducted in 1898 by Triplett One athlete looks forward to competition while another dreads the upcoming event. This is an example of The subjective competitive situation Which of the following is (are) true? Competitors cause cooperators to compete. In Aschs experiment of line-comparison judgments, _____ of the subjects conformed to the group norm. 1/3 One way athletes interpret whether they are being treated fairly is based on The coachs manner in communicating her views to the athletes and the degree of compatibility between the coachs and athletes skill assessments of the athlete Social loafing is increased under which of the following conditions? A comparison against group standards is not possible Team climate can be defined as A representation of how an individual perceives the interrelationships among the team members The results of a study by Ingham et al. (1974) using rope pulling, in which confederates were thought to be pulling on the rope but in fact were not, indicated that differences between actual and potential performances were due to a decrease in motivation In the pendulum example of the Indiana basketball team, which of the following is (are) a stage of group development? Orientation; differentiation and conflict; resolution and cohesion According to Christian Buys, there are several negative aspects of group formation. These negative aspects include Conformity; Social Loafing; Deindividuation The phenomenon in which individual performance decreases as the number of people in the group increases is known as the Ringlemann Effect Which of the following is (are) true? Pendular models emphasize shifts in interpersonal relationships during growth of groups and Life cycle models emphasize the birth and death of groups. Which of the following can help reduce the occurrence of social loafing? increasing identifiability and breaking down the team into smaller units Research has indicated that social support can have a positive impact on which of the following? Recovery from injury; Coping with stress; Team cohesion Role acceptance depends on autonomy; feedback and role recognition; role significance If a rookie tried to take charge and exert leadership in critical games despite the fact that there was a veteran leader on the team, this would be considered a violation of Group Norms Team building is considered part of which stage of team development? Forming Which of the following is not a key defining characteristic of a group? Having individual goals One effective method for establishing positive group norms is to Enlist the formal and informal leaders of a team to set positive examples Which of the following is (are) part of the norming stage? role acceptance; increase in cooperation and solidarity; conflict resolution A level of performance, pattern of behavior, or belief that is formally or informally established as appropriate by a group is called a Norm Which of the following can facilitate team transition when an athlete disengages from a team? clarifying role differentiations and increasing an individuals awareness of disengagement Having athletes eat together or live together is an example of which factor that is important in developing an effective team climate? Proximity Formal roles, in contrast to informal roles, are a set of behaviors that are required or expected of persons in a group and are dictated by the nature and structure of an organization and include such roles as team captain, coach, and athletic trainer Which of the following is NOT one of the principles underlying the team-building model developed by Carron and colleagues? Autocratic Leadership Style Which of the following statements about cohesion is (are) true? Higher normative expectations are associated with higher levels of cohesion and More sacrifices are made by players when cohesion is high. Using the Group Environmental Questionnaire, research has revealed that group cohesion is related to which of the following? reduced absenteeism; increased member satisfaction; attributions for responsibility for performance outcomes The number of athletes holding scholarships and the eligibility requirements are examples of which antecedent of cohesion? Environmental Factors Which of the following statements about building cohesion is (are) true? Set goals that are easy to accomplish to keep up spirit and Encourage team identity. From an athlete perspective, to help build team cohesion you should give teammates positive reinforcement and be responsible for yourself Michael Jordan spoke about everyone on the team coming together (cohesion) when they stepped between the lines. This belief in one another is known as Collective Efficacy Which of the following statements is (are) true? There is a positive relationship between task cohesion and performance. Task and affiliation motivation are examples of which antecedent of cohesion? Personal Factors Which of the following statements best represents the relationship between cohesion and performance? Circular Which of the following statements is true? The cohesion-performance relationship is positive for interactive sports. Which of the following tips can build team cohesion? Develop pride within subunits and Avoid excessive turnover. Which of the following is NOT a construct identified in the Group Environment Questionnaire? Group Attraction-Environmental According to Carron and Dennis, the most important personal factor regarding the development of social and task cohesion i Individual Satisfaction A sociogram is An illustration of affiliation and attraction among team members In setting up a team goal-setting program, which of the following guidelines should be followed? Involve all team members in establishing goals; Set specific and challenging goals; Reward progress toward team goals. Which of the following was (were) found to be a barrier to cohesion? Members struggling for power According to the latest definition provided by Carron, Widmeyer, and Brawley, cohesion is seen to be Instrumental Which of the following sports requires the highest level of task cohesion? Basketball and Ice Hockey Individuals holding stronger beliefs about the cohesiveness of exercise classes are more likely to attend more classes and more resistant to group disruption The dimensions of the Multidimensional Sport Cohesion Instrument include attraction to the group; unity of purpose; quality of teamwork What are the two major categories of behavior from the Coaching Behavior Assessment System? Reactive and Spontaneous Which of the following is (are) FALSE concerning findings from studies of the antecedent conditions that affect leader behavior? Females prefer an autocratic style more than males do Which of the following statements is (are) true? Athletes high on internal locus of control prefer training and instruction coaching behaviors Smith and Smolls studies on coaching behaviors and Little League coaches found that Coaches can change their behaviors to become more positive According to Fiedlers contingency model, a relationship-oriented leader would be most effective under which type of situation? Moderately Favorable When coaches obtain the necessary information from relevant players and then come to a decision, what type of decision style are they using? Autocratic-Consultative According to the Multidimensional Model of Sport Leadership, performance and satisfaction are a function of the degree of congruence among 3 types of leadership behavior Regardless of age, athletes preferred coaches who Gave positive feedback and gave technical instruction The study using interviews of elite gymnastic coaches (Cote, Salmela, Russell) showed that expert coaches most often exhibited which of the following behaviors? Pushed gymnasts by constantly issuing threats and yelling According to results obtained in studies using the Leader Behavior Description Questionnaire, successful leaders tend to score High on both consideration and initiating structure Which of the following is (are) a guideline put forth based on 25 years of Smith and Smolls research? maintain clear expectations; reinforce effort as much as results; give encouragement and corrective instructional feedback immediately after a mistake The two major categories of behavior found using the Leader Behavior Description Questionnaire are Consideration and Initiating Structure The Leadership Scale for Sports identifies which coaching behaviors? social support; democratic; autocratic Great leaders are made, not born. This statement is an example of which approach to leadership? Behavioral In most organized sport teams, leaders and coaches are appointed In their classic study of the coaching (leadership) behaviors of legendary basketball coach John Wooden, Tharp and Gallimore found that his most often used coaching behavior was Verbal instructions on what to do and how to do it Great leaders are born, not made. This statement is an example of which approach to leadership? Trait Fiedlers research has identified which two types of leadership styles? Relationship Oriented and Task Oriented Which of the following results from Smith and Smolls studies on coaching behaviors is (are) true? Players for coaches who displayed high levels of general technical instruction evaluated their teammates and sport more positively According to successful professional football coach Bill Parcells, which of the following is NOT a quality of successful leadership? Trust The definition of leadership usually seen in the literature is The behavioral process of influencing individuals and groups toward set goals Supportive listening behaviors are empathetic and remain open to new ideas Intrapersonal communication is communication with yourself Which of the following would you NOT suggest for communicating with empathy? Make sure the other person understands your point of view What percentage of the time during communication is spent listening? 40% When there is a communication breakdown, most people believe that the problem resides with the other person Which of the following would you NOT suggest for communicating with consistency? Show more compassion in competition than in practices Which of the following general guidelines is (are) helpful to follow when facing confrontations? understand and be tentative Which of the following things should you NOT do during a confrontation? stop communicating; communicate the solution; rely on nonverbal cues to communicate After taking Sullivans communication training, athletes had the following reactions to the workshop: it helps to know the goals of my teammates and it is scary to open up, but this makes things easier The sandwich approach consists of which of the following elements? a positive statement and future-oriented instructions Proxemics is the study of how we communicate by the way we use space Supportive language has which of the following characteristics? Descriptive Breakdowns in communication can occur because the receiver fails to listen; the receiver misinterprets the message;the messages are inconsistent Sullivan devised seven communication exercises to promote more effective communication. Athletes said they would try to practice the following communication skills not interrupt others when they are speaking and confront issues right away Which of the following is NOT a type of communication? Introspective Communication Which of the following is NOT an element of communication? Paraphrasing the message Which of the following would you suggest for expressing anger in a positive manner? Try to attack the persons character to make your point Nonverbal behaviors that communicate interest and attention include which of the following? Maintaining eye contact Which of the following is (are) NOT a principle of communication when setting up team meetings? What is discussed in the meeting is open to others outside the meeting

Homelessness in America

Homelessness in America Free Online Research Papers Homelessness in America S.L. Smith Homelessness in America is a serious problem. I believe that our government does not take this problem as serious as it should. When I moved to Florida 15 years ago I noticed a few homeless people here and there. It is an every day occurrence for me now on my way to work. There should be more funding for these people to live like the rest of us. It irritates me to see all of the money that we supply the space program with and we have homeless and starving people here on Earth. I think that most people are appalled by the sight of homeless and ignore them. It seems to me that most people think that being homeless is the homeless persons fault. Recently, I noticed two men sitting on a curb holding sign saying that they would work for food. I stopped at a fast food restaurant and bought them something to eat. I don’t have any work to give them, but offered them some advice as to where the local social service office was. In my conversation with them I learned that the help that they could receive was limited as they lived in the woods and had no legal address. I was also informed that there was a very small list of homeless shelters and that they were at capacity. It seems so wrong that these people have to live this way. According to the Department of Housing and Urban Development, there were 754,000 homeless people across America and for almost half of these people there were not enough beds to go around. Of these homeless people, nearly h alf were single adult men. Eitzen, D.S., Zinn, M.B., Smith, K. E. (2009). Social Problems (11th Edition). United States: Pearson Education. For the homeless, the consequences are many. Most of the homeless do not have jobs, although a study in 2007 performed by the U.S. Conference of Mayors found that 17.4% of homeless adults in families were employed while 13% of homeless single adults or unaccompanied youth were employed. National Coalition for the Homeless. (2007, August) Health Care and Homeless. Program and Policy Issues. Retrieved March 16, 2009, from nationalhomeless.org/publications/facts/health.html Without employment people go without food and medicine. Although there are some programs in place to help with these issues, it is hard for them to receive help without a valid address. Homeless children experience many health difficulties. Nine million children in the United States don’t have health insurance. U.S. Bureau of the Census. (2007). Health Insurance Coverage. Retrieved March 16, 2009, from census.gov Children without insurance, compared with children who do, are more likely to go without proper medical attention when needed and are more likely to go without much needed prescriptions. I think that our government should come up with some type of bill that makes sure that every person in the United States has some type of health coverage. The easier it is for people to get medical attention the healthier we are as a society and the stronger some may be to work and pay rent. Along with that, I think it is necessary for our government to make sure that there is affordable housing all over for the poorest of people and some sort of financial assistance to help them get on their feet. In some states General Assistance is available for the poorest of single people, but it has been cut from several states because of cut backs our government has made despite the evidence that receiving General Assistance reduces homelessness. National Coalit ion for the Homeless. (2007, August) Health Care and Homeless. Program and Policy Issues. Retrieved March 16, 2009, from nationalhomeless.org/publications/facts/health.html I think it is wrong to cut this when so many people need it. Our government officials are the ones holding the bag of money, so to speak, so I think that they should find a solution to this ever growing problem. If I were to try to solve this problem, I would first cut some programs out of the budget or at least put them on hold for a few years so the problem of homelessness could be taken better care of. I would first try to figure out a way to make sure that there were enough shelters and half way houses for these people coming off the streets. I think that I would try to figure out a way to teach these people how to take care of themselves and be productive in society if they needed a little bit of guidance. The General Assistance grant would have to be available in every state. I think that this is so important for people that have no other means of supporting themselves, until they get back on their feet. Our government helps people coming from other countries coming here to live, and I think that it should help the ones that already live here. Since I started this research paper, I have talked to several people in my circle of friends about the topic. I think that it is interesting that we all feel very compassionate about getting these people help, but don’t know exactly what to do and how to go about it. Sure, a soup kitchen here and there is great. And donating money to charity to help the homeless is a start, but we all agree that there has to be more government involvement. As stated by my friend, Debbie, â€Å"We are so quick to tell other countries how to run their governments and how to treat their citizens. In the past, we have sent so much money to other countries to help them rebuild and take care of their homeless, displaced citizens. What we should be doing is cleaning up our own back yard and minding to our own citizens†. In my opinion, I could have not said it better. References Eitzen, D.S., Zinn, M.B., Smith, K.E. (2009). Social Problems (11th Edition). United States: Pearson Education National Coalition for the Homeless. (2007, August) Health Care and Homeless. Program and Policy Issues. Retrieved March 16,2009, from nationalhomeless.org/publications/facts/health.html U.S. Bureau of the Census. (2007). Health Insurance Coverage. Retrieved March 16, 2009, from census.gov Research Papers on Homelessness in AmericaTwilight of the UAWThe Effects of Illegal ImmigrationInfluences of Socio-Economic Status of Married MalesMoral and Ethical Issues in Hiring New EmployeesNever Been Kicked Out of a Place This NiceThe Relationship Between Delinquency and Drug UsePETSTEL analysis of IndiaBook Review on The Autobiography of Malcolm X19 Century Society: A Deeply Divided EraRelationship between Media Coverage and Social and

Marketing of financial services Essay Example | Topics and Well Written Essays - 1500 words

Marketing of financial services - Essay Example Reduction in the incidence of interest rate clustering, however, is not very costly. Hence, Ashton and Hudson implied that the more na've customers should take a more active stance in their finances - be more involved as "[t]he degree of price or interest rate clustering appears to be exaggerate when low levels of financial involvement are concerned" (Ashton & Hudson 2008, p. 1402). Citibank offers several savings and investment products, whether local currency denominated or foreign currency denominated, to its clientele. These savings and investments products are offered with range of interest rates. A look at the bank's Web page on its savings and investments products shows that its US Dollar Reward Saver is marketed as giving 2.50 per cent gross per annum rate which is much higher than the account's actual annual equivalent rate or AER of 2.02 per cent. Although both rates were published in the Web page, a na've customer - whose interest or whose lack of "ability to process information" (Ashton & Hudson 2008, p. 1393) is the one being exploited - would immediately zero in on the "earn up to 2.50% gross p.a. fixed for 6 months" (Citibank 2008) and ignore the subsequent "2.02% AER on your US Dollars in the UK2.50 per cent gross" (Citibank 2008). Clearly, in this example, the bank is playing in a very broad context of marketing ethics. Another example is the bank's Reward Saver Issue 2 product which is being offered at a gross per annum interest rate of 6.35 per cent while in reality, the customer will actually be getting an interest rate closer to 5.08 per cent which is the AER. Even the AER is structured in a way to maximise or to exploit the na've's customer's tendency to round up - in here, the na've customer would think that 5.08 per cent is substantially higher than 5 per cent. An example which provides proof to Ashton and Hudson's conclusion on the rounding - "If the number is not already a round number an individual would round a number to the closest reference number" (Ashton & Hudson 2008, p. 1394) - is the bank's net interest rate per annum for its 60 day direct savings account. The bank gives 2.48 per cent for accounts with more than '75,000. A customer with the characteristics described by Ashton and Hudson will immediately round this rate off to 2.5 per cent. The 0.02 per cent difference from the rounding off can be translated to '15 every year for a '75,000 account! Ashton and Hudson observed that for mortgage rates, the interest rate clustering "occurs very frequently just below round numbers giving strong evidence for the common use of na've number processing strategies" (Ashton & Hudson 2008, p. 1401). Unfortunately, for Citibank United Kingdom (and even for HSBC UK) I could not obtain interest rates for their mortgage products, hence I applied the findings of the research to the bank's credit card rates. For its Citi Platinum MasterCard, Citibank charges 5.8 per cent for balance transfers and an APR of 16.9 per cent which are examples of the observation made by Ashton and Hudson - clustering just below round numbers. This can also be observed in the bank's Citi AAdavatage

The Risks of Sports Doping on Weight Lifters Research Paper

The Risks of Sports Doping on Weight Lifters - Research Paper Example However, doping is rampant some athletes have taken upon themselves and their managers to deceive the doping tests and have a competitive advantage over other athletes. Despite testing being done without advance notification and having a long list of banned substances, cheating by athletes has been rampant and more effective than in the past. It is with the understanding of the rampant cases of doping in sports that this study aims at understanding the risks of sports doping on weightlifters (Saugy et al., January 01, 1996). According to Thieme and Hemmersbach (2010), doping as a word first mentioned in the English dictionary in 1889 despite the attempts at enhancing performance by athletes have been a much older activity. Doping has its origins 5,000 years in China when the use of Ma Huang (an extract from the Ephedra plant) was used to suppress coughing and stimulate circulation (Thieme & Hemmersbach, 2010). Further, eating of testicles was recommended by Indian Physician Sutruta and used by the Huns around 300 BC, hallucinogenic mushrooms in 3 BC show the development of doping in sports. Strong stimulants like cocaine, alcohol, caffeine, and strychnine would later be used by cycles and other athletes to promote endurance (Baron et al., January 01, 2007). Mariani wine that would lead to the conferring of a gold medal to Vin Mariani was also used widely but was banned by Germany in 1920. Start of human tests to reduce athlete doping revealed numerous cases of doping and the start of banning by The Inter national Athletic Federation (IAAF).  

Bio-Terrorism Research and Development Essay Example | Topics and Well Written Essays - 750 words

Bio-Terrorism Research and Development - Essay Example These pathogens have high probabilities of bioterrorism use because they can be disseminated fast and without difficulty; would simply need minimal amounts to cause and spread diseases; and would cause high levels of morbidity and mortality (Perlin, 2008). Category A agents, being the highest risk agents, are top priority in research efforts. Category B agents create the second highest threat.  Category C agents are the emerging communicable disease hazards (â€Å"Potential Bioterrorism Agents,â€Å" 2010). Biological agents such as anthrax, botulism, plague, smallpox, tularemia, and viral hemorrhagic fevers (â€Å"NIAID report claims great progress in biodefense research,† 2010), are cheap substitutes to conventional weapons. Preferred by terrorists, these pathogens have easy accessibility; rapid production and distribution; low detection and high potentials for causing national disturbance (â€Å"Potential Bioterrorism Agents,â€Å" 2010). Since 2002, the National Institute of Allergy and Infectious Diseases (NIAID) has shown remarkable progress in the development of measures to counteract bioterrorist attacks. Basic research programs comprise the latest designation and financial support of eight regional academic centers for biodefense research and rising transmittable diseases. All strains of pathogen genomes with high-risk for bioterror use are sequenced and determined of possible viral and protozoal bioterrorism infection. Researchers are given grants to study the deterrence, identification, and cure of diseases caused by bioweapons. The NIAID research targets on the development of effective vaccines and precise diagnosis (â€Å"NIAID report claims great progress in biodefense research,† 2010). Mucosal immunities are studied on areas of infection, such as the respiratory organs and oral passages since potential bioweapons are most likely to infect those areas (â€Å"Introduction to Biodefense Research,â₠¬  2010). Proposed efforts to

Industrialization and Appalachia Essay Example for Free

Industrialization and Appalachia Essay Industrialization and Appalachia The Industrial revolution did not â€Å"skip over† Appalachia but the native mountain people did not benefit from the effects of industrialization and were left in a worse situation. The stereotype of the Appalachian people that was formed prior to the industrialization era was that mountain people were noble, savage, independent, proud, rugged, dirty and uneducated. The industrialists to promote economic development and industrialization of Appalachia used this backward image of the Appalachian people. They believed that the native Appalachian people were incapable of developing the Appalachian Mountains natural resources on their own. However in trying to keep up with the modern world during the industrial revolution the people of Appalachia were doomed to their pre-industrial image. Until the era of industrialization Appalachia was a region of small, open-country communities, concentrated in valleys, coves and hollows. Each community of farms was self-sufficient socially and economically. The focus of a self-sufficient farmer was that of survival by working in their own crops and hunting or raising livestock for food. They tended to have large families to help with all the demands of the farm. After the Civil War northerners came into the southern Appalachian Mountains, and many were surprised by what they found. They found a multitude of mineral and timber wealth as well as a romantic beauty of the mountain landscape. Capitalists responded to this discovery and began to industrialize the Appalachian Mountains for their own profit. Capitalists believed that the Appalachian people were too backward to know that they were sitting on an abundance of resources so they manipulated the mountaineers into selling large amounts of land for basically nothing. As Eller wrote in his book Miners, Millhands and Mountaineers, â€Å"some sold entire mountains for a mule, horse or rifle†. Industrialization depended first upon the building of an adequate transportation system into, out of, and within the mountain regions of the South. The railroad was built and it opened the doors to the full exploitation of the mountains natural resources. Coal and timber extraction were the primary resources that drove the Industrial Revolution in Appalachia. The extraction of these resources required the employment of the Appalachian farmer. The mountaineer left their farms for wage employment  and became dependent on that. The uncontrolled flow of the coal and timber industry took up huge plots of farmland and forced families to move to the mining towns. With the presence of the coal and timber companies in place, the mountaineer could not hope to be more than barely self-sufficient. The area industrialized without developing sufficient infrastructure to sustain itself, dooming the mountain people to poverty. The average mountaineer had been an independent sort of person, running his own farm, raising a family and building his own future. When brought into coal, timber, and textile towns, he was at the mercy of his employer. The mountaineer became totally dependent on his employer and was forced into terrible conditions. Besides this dependence to his employer the mountaineer could not go back to his old home place and farm again because the cutting of timber ruined agriculture. â€Å"One of the most important results of industrialization in Appalachia has been the negative impact it has had on the long-term economic health of the region. None of the industries in Appalachia, and especially not the coal industry, encouraged rival or spin-off economic development during their boom years. The effect has been sporadic economic growth without real economic development† (A Handbook to Appalachia, 15). In Miners, Millhands and Mountaineers, Ellers thesis was that while Appalachia had undergone industrialization, the region itself failed to modernize. He argues that during and after the industrialization process mountain people lost their independence and self-determination of their ancestors, without becoming full participants in the benefits of the modern world. The mountain people found that the growing prosperity had bred greater dependence on the system beyond their control. Worst of all, none of the wealth the industrialists stripped from the mountains remained there. The industrial revolution was not properly development in Appalachia and it left the Appalachian people poor and barely able to care for themselves. So it is obvious that, in trying to keep up with the modern world, the people of Appalachia were doomed to their pre-industrial image or stereotype. Works cited 1. A Handbook to Appalachia, an introduction to the region; edited by Grace Toney Edwards, JoAnn Aust Asbury, Ricky L. Cox Copyright 2006 by the University of Tennessee Pres/Knoxville. 2. Eller, Ronald D. Miners, Millhands and Mountaineers. The University of Tennessee Press, 1982.

Confronting Death in Richard Wilburs The Pardon Essay -- Wilbur The P

Confronting Death in Richard Wilbur's The Pardon Death is the issue at the heart of Richard Wilbur's poem "The Pardon." This is apparent from the opening line, "My dog lay dead five days without a grave." What is not immediately apparent, however, is that this is not simply a poem about a young boy's sadness over the loss of his dog. What Wilbur discusses in this piece is much more profound, cutting through the superficialities of death and confronting fears and doubts that all of us experience at different points in our lives. This is a poem about atonement, about facing the mistakes of the past and confronting them directly. More specifically, it is about reconciling ourselves with death and everything that life's deepest tragedies entail. The adult narrator of the poem is haunted by his past, unable to cope with feelings and emotions that he had as a youth. He even seems to have attempted to repress a portion of his life. However, as a result of a chillingly realistic dream, he is at last forced to face what he thought was burie d for good. The realization that comes because of this, the realization that death is not something to run from, is the true meaning of the poem and the crux of what Wilbur is trying to say to the reader.   Ã‚  Ã‚  Ã‚   "The Pardon" can be divided into three distinct parts. The first sub-section is made up of stanzas one and two, which detail a tragic event that occurred in the life of the narrator when he was ten years old: the death of his dog. It is in these first eight lines that the narrator tries to give the reader an understanding of what he felt when this happened. He uses very descriptive words and phrases, providing vivid imagery of the various sights, smells, and sounds that he experienced. H... ...ightful look into death and the fears and doubts that it induces within all of us. The narrator of the poem is a man who has never been able to confront death, beginning with the loss of his dog at the age of ten. He has chosen to avoid it his entire life, rather than attempting to understand it. It is finally as an adult that a vivid dream causes him to finally face his fears: he sees his dog rising out of its grave and begins to ask it for forgiveness. The dog in the dream can be seen as a representation of his trepidation. Once he is able to confront it and ask for its pardon, he can finally begin to cope with the idea of death.    Works Cited Jarrell, Randall. "Fifty Years of American Poetry." The Third Book of Criticism. NY: Farrar, Straus & Giroux, 1969. Wilbur, Richard. "Mayflies." Mayflies: New Poems and Translations. NY: Harcourt Brace, 2000.

Development of New Space Vehicles for Future Space Tourism

A lot of people nowadays consider ordinary space travel and tourism as an outlandish vision for the next century and for the upcoming future. On the other hand, scientists and futurists say that space tourism is a possible subject and possibility that current aeronautics and space science will lead to in the next few years. Other people view space tourism as a complete waste of resources given the multitude of earthbound problems that needs to be solved before having a nice flight back and forth from space. In spite of all these foreseen problems, space tourism is a reality that many people await and envision. These people comprise of visionaries and business men who are currently building the required facilities to make space tourism possible and who also have the courage to believe in the idea that space tourism can be a reality.Space tourism is essentially spaceflight which has been funded by personal interests for the purposes of personal satisfaction. Likewise, space tourism is very similar to any tourist vacation in the Bahamas or in the Caribbean or in any destination in Earth. Some of the personal reasons for spending on space tourism comprise the very unique experience of having been into space, the experience of weightlessness, the ability to view the curvature and disk of the earth, as well as the status of having been one of the few people who have been space tourists.ObjectivesTo be able to gain knowledge from the space travel and tourism. To be able to explore the different possibilities in travelling through space. To be able to assess and evaluate current space travel methods and technology available today. To be able to assess the output of space tourism as a business. To be able to identify the problems encountered as a consequence to space travel and tourism proposals. To be able to briefly name and briefly discuss the possible future technologies for space travel. Literature CitedSpace Tourism is the term that's come to be used to mean ordin ary members of the public buying tickets to travel to space and back. Many people find this idea futuristic. But over the past few years a growing volume of professional work has been done on the subject, and it's now clear that setting up commercial space tourism services is a realistic target for business today.(Virgin Galactic Website. 2008)The first steps will just be short sub-orbital flights, like Alan Sheppard made in 1961, since these are easier than getting to orbit. But the technical know-how to make passenger launch vehicles and orbiting hotel accommodation is available, and there is enormous unsatisfied demand market research has revealed that most people, at least in the industrialized countries, would like to take a trip to space if it was possible. This gives huge scope for reducing the cost of space travel by large-scale operation like airlines. (Boyle, 2008)One of the main challenges is merely the conservatism of the space engineering as it is today. Since Sputnik w as launched in 1957 almost all space launches and activities are government related. This race to the space has created many activities that projected an image of space exploration and tourism which almost all people kept thinking about. People like – writers, journalists, politicians, scientists and engineers, and the general public give their own insights to the exploration of space and space tourism.Developing low-cost passenger launch vehicles is not just to create a pastime for the rich. In business, the companies that make big money are the ones that serve big markets. Like tourism on Earth, there will be a small expensive segment for the rich – but the great majority of space tourists will be middle-class customers – the greater majority of us. ( Dignan, 2008)The utilization of the space is endless but it is very much dependent on access. Until admittance will become cheap, we can't make use of the unlimited resources and supplies that are available in sp ace for us to have a solution to the problems of our over populated Earth. When the time comes that access will be cheap, admittance to space will much more be easier. Making space travel cheap will require large turnovers of cash and money. Tourism can generate the large-scale launch activity needed to reduce costs sufficiently to start to use space resources – and so it's one of the most important projects in the world today. ( Dignan, 2008)Commercial space activities today include satellites being used for communications, broadcasting and photography (remote sensing). But these are small businesses – no more than a few $billions per year – that will never need humans in space. So â€Å"commercial space activities† today are not leading towards space tourism. (Virgin Galactic Website. 2008)Moreover, if certain companies and people would want a better space travel and tourism adventure, then we should expect that more technologies and activities related to building space vehicles and other will be put in to place.Some people say â€Å"Developing space tourism is very difficult, so it'll take a long time. Leave it to the government space agencies.† But the agencies already spend $25 billion per year on â€Å"space activities† – and they are not trying to develop launch vehicles that could open space up to the public. Barely 2% of their budgets are used for this purpose – although even just one year of their huge funding would be plenty! (Space.com, 2007)The Space Future is playing a vital part in the development of a more accessible space by collecting all the work needed. This includes technology, logistics and others critical factors for the exploration of space.Stages of Space TourismSimilar to any other business franchise, the moment that space tourism begins it will develop and improve dramatically. Today, we can only think of the different stages of space tourism once it gets started and all.. Begin ning with a small-scale and relatively expensive â€Å"pioneering stage†, the scale of activity will develop and prices will go down as it matures. Finally it will become a mass-market business, like airplanes today. (McKee, 2005)Pioneer StageThe phrase â€Å"space adventure travel† has been recommended by Gordon Woodcock of Boeing and is a convenient one to describe the first phase. Customers will be relatively few – from hundreds per year to thousands per year; prices will be lofty, $50,000 and up; and the service will be nearer to â€Å"adventure travel† than to extravagance hotel-style. Orbital accommodation will be safe but â€Å"spartan†. (Virgin Galactic Website. 2008)Mature StageThis will see demand growing from thousands of passengers per year to hundreds of thousands per year. Tickets to orbit will cost less and flights will depart from many different airports. Orbital facilities will develop from being just clusters of pre-fabricated mod ules to large structures constructed in orbit for hundreds of guests, permitting a range of orbital entertainments. (Virgin Galactic Website. 2008)Mass StageTicket prices will go down to the equivalent of a few $ thousand, and customers will from hundreds of thousands to millions of passengers per year. Apparently unthinkable to most people in the space industry, even 1 million passengers per year is just 8 hours of aviation! And aviation is still growing fast at today's level of 1 billion passengers per year. So there's no reason to suppose that space travel will ever stop growing. There's certainly no limit to the possible destinations. And the access to space resources that low cost launch will bring about will ensure that economic growth needn't end for a few more millennia at least. (Virgin Galactic Website. 2008)Space tourism is a business idea whose time has come in today’s 21st century. Surely it will begin soon and it will grow rapidly and develop progressively. This will now push space related activities in the dawn of the 22nd century.Leading Space Vehicle Technologies and Space Tourism CompaniesVirgin Galactic and SpaceShipTwoVirgin Galactic, one of the leading potential space tourism groups, is planning to have passenger service on its first spaceship, the Scaled Composite SapceShipTwo with the inaugural launch in 2008 and main flights beginning in 2009. The price is initially set at $200,000. Headed by Sir Richard Branson’s Virgin Group  , Virgin Galactic will be the first private space tourism company to regularly send civilians into space, by training them for 3 days before their launch. The SpaceShipTwo  was built as a result of the X Prize  which was won by SpaceShipOne;  both SpaceShipOne and SpaceShipTwo were designed by Burt Rutan. Launches will first occur at the Mojave Spaceport in California and will then be moved to the permanent spaceport in Upham, New Mexico. (Virgin Galactic Website. 2008)The spaceships used wi ll go 360,000  feet (109.73  km, or 68.18  miles) high; this goes beyond the height of 100  km, which is the internationally defined boundary between Earth and space. Space flights will last 2.5 hours, carry 6 passengers, and reach a speed of Mach 3. SpaceShipTwo will not require a space shuttle-like heat shield for atmospheric re-entry as it will not experience the extreme aerodynamic heating experienced during re-entry  at orbital velocities (approximately Mach 22.5 at a typical shuttle altitude of 300  km, or 185  miles). The glider will employ a â€Å"feathering† technique to manage drag during the unpowered descent and landing. SpaceShipTwo will use a single hybrid rocket motor to launch from mid-air after detaching from a mother ship at 50,000  feet, instead of NASA's Space Shuttle's ground-based launch. (Virgin Galactic Website. 2008)Space AdventuresEric Anderson is the president and CEO of Space Adventures. He co-founded Space Adventures in 1998 with s everal other entrepreneurs from the aerospace, adventure travel and entertainment industries and has managed the company over the past several years, selling more than $120M in space tourist flights. He has developed and financed over $500 million (USD) in new projects for Space Adventures, including two global spaceports and the first private voyage to the moon, set to launch in 2009.  (Space Adventures Website, 2008)The company sells a variety of flights such as Zero-Gravity flights, cosmonaut training and actual spaceflights. In May 2001, it sent American businessman Dennis Tito to the International Space Station (ISS) aboard a Soyuz Spacecraft for a reported $20 million payment, making him the first space tourist in history. South African businessman Mark Shuttleworth  did the same in April 2002 becoming the ‘First African in Space'. Gregory Olsen  became the third private citizen to travel to the ISS in October 2005, followed by the first female space tourist, Anous heh Ansari, who completed her 10-day orbital mission in September 2006. Charles Simonyi, an ex-executive at Microsoft who managed the Office product group became the world's fifth space tourist in April 2007. (Space Adventures Website, 2008)The  Explorer space plane, which will be the main space vehicle that will be used by Soace Adventures,   is a suborbital   tourist space plane based on the Space Adventures C-21 design. The plane is being developed by Space Adventures  with the Russian Federal Space Agency  and is designed to carry 5 passengers. It is to be air-launched by carrier aircraft from a Space Adventures spaceport. The spaceport for the Explorer is being developed with Prodea in the United Arab Emirates. (Space Adventures Website, 2008)Technological AdvancementThe key in reducing the cost of space tourism is in development of space is in the development of new space vehicles. The current per pound cost of sending anything to space is simply too astronomical for accessible space tourism purposes. The costs climb even higher when sending humans into orbit. Many visionaries and entrepreneurs have realized this and are now working on new spacecraft for the purpose of space tourism.As mentioned, spacecraft for space tourism should have the goal of being economical and accessible. The Soyuz and the Space Shuttle are neither, being too expensive and needing months of training before a space tourist can climb aboard. Another implied requirement is that the spacecraft is reusable. Both the space shuttle and the Soyuz are not reusable to some degree (the Space Shuttle's fuel tank is destroyed upon take off and must be replaced). Another requirement is that passenger preparation be much reduced. Current space tourists must undergo months of grueling training before being allowed to fly to space. Lastly, with any tourism experience, the craft should provide a comfortable and safe ride for its passengers.Today, the most promising space tourism vehicle has been the prototype SpaceShipOne built by Scaled Composites. SpaceShipOne was the winner of the Ansari X-Prize after it was able to reach an altitude of 100 km twice in a two week period while having the capacity for carrying three people. Clearly these abilities are in line with the objectives of space tourism. SpaceShipOne's flight may not be considered true space flight by some people as it is not able to go into orbit. However at 100km, its passengers will be able to experience weightlessness and will be able to see the curvature of the earth as well as the fading of the atmosphere into the blackness of space.SpaceShipOne was able to do this through its design. Instead of using rockets to lift it to high altitudes, SpaceShipOne was lifted first to a high altitude before any rockets were ignited. A conventional jet-powered craft, WhiteKnight, carries SpaceShipOne to high altitude. At the predetermined altitude, SpaceShipOne breaks off from WhiteKnight and ignites its hybrid r ocket motors to push it to outer space. Upon reentry, SpaceShipOne lands like a conventional plane on a traditional runway. Together with the use of the newest materials and technology,   this â€Å"spaceplane† approach was the key in reducing the development and operational costs for SpaceShipOne. SpaceShipOne has now been retired and work is now.ConclusionSpace Tourism may still be a dream for the majority of us but it is undeniable that huge strides have been made in the past decade to make it possible. The development of space vehicles have lowered the cost for space travel and have accelerated the possibility of private space travel. In the next few years, space travel and space tourism will be one of the ordinary things that any family or any person would go to every holiday or every summer. Just like any other place in the planet, travel time will be much faster compared to early flights and the cost will be leveled off. All of these advancements will be our debt to all visionaries and the engineers who are building future space vehicles for our use.