Small Firm Effect Essay Example

Small Firm Effect Paper At last, a conclusion about whether or not to use this anomaly earn profit will be provided. Explanation of small firm effect and its methodologies Small firm effect refers to a situation which the average risk adjusted returns of smaller firms are higher than the larger firms Band(1981). This situation shows the insufficient of CAMP in predicting the stock returns and counter-argues the efficient market hypothesis Band(1981). It was found by researching the relationship between the return and market value of common stocks in the New York Stock Exchange. The researchers build a generalized asset pricing model which adds the variable market value of security to the capital assets pricing model Band(1981). The constant measuring the contribution of market value of a stock to the expected return of the stock was found as a significantly negative number for the all-time period Band(1981). This indicates that the larger the market values the smaller the expected returns Band(1981). Supporting evidence There are several evidences support the small firm effect as an anomaly counter- argues the efficient market hypothesis in relate to the capital assets pricing model. Under the efficient market hypothesis, no persistent excess profits can be earned on a stock by using public available information. However, the research done by Band(1981) proves that about twenty percent risk-adjusted profits can be earned by using strategy of taking long positions in a portfolio of smaller firms and taking short position in a portfolio of larger firms in a year. Furthermore, the researches done by Brown, Klein and Marsh (1983) shows that excess returns can be earned in related to firm size but the effect is not stable over time. We will write a custom essay sample on Small Firm Effect specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Small Firm Effect specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Small Firm Effect specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Moreover, the study done by Kim(1983) also proves that there is a size related anomaly and its seasonality. Kim(1983) founds around fifty percent of abnormal returns related to firm size are earned in January, twenty-six percent are earned during the first trading week in a year and around eleven percent are earned in the first trading day. Small firm effect in different equity market The study done by Reengaging (1990) found that the relative price behaviors of larger and smaller firms on ETC stocks are different. The costs of trading for small stocks are different in different markets (Reengaging 1990). Thus, an analysis of the evidence for small firm effect in different equity market is important. Small firm effect not only happens in USA but also in the other countries. It has been proved existence in Australia by Brown, Kim, Klein and Marsh (1983). Furthermore, a study done by Chemung, Lounge and Wong (1994) on Korean Stock Exchange also proves the existence of small firm effect. In mean return analysis, the study shows the portfolio with smallest firm size got the highest average monthly return (Chemung, Lounge and Wong 1994). In risk-adjusted return analysis, they use the Sharpe-Lintier version of the two parameter assets pricing model to examine the influence of firm size and E/P ratio on the risk-adjusted portfolio returns (Chemung, Lounge and Wong 1994). The result shows the portfolio of small firms get the highest and only positive risk-adjusted returns (Chemung, Lounge and Wong 1994). Moreover, the small firm effect also exists in Belgium, Ireland, Japan, Mexico, Spain, Switzerland and United Kingdom (Hawaiian and Kim 2000). However, there are no significant relationships between firms size and returns in Canada and France and the size premium significantly different in different markets (Hawaiian and Kim 2000). Small firm effect in different time The researches done by Brown, Klein and Marsh (2001) on U. S. Stock market shows hat excess returns can be earned in related to firm size but the effect is not stable over time. Damson and Marsh (2001) believe that market anomalies apply to Murphys Law which if things can go wrong, it will eventually go wrong. That is, the excess return of small companies will eventually move towards reverse. They compared the stock return of small firms in the U. K. Stock markets with that in the U. S. Stock markets from 1955 to 1997. The study shows the stock returns of small firms were 6% higher than large firms during 1955 to 1986 then many founds Management Company launched between 1987 and 1988, followed a reverse on stock returns of small firms were 6% lower than the large firms from 1989 to 1997 (Damson and Marsh 2001). This may also be contradicts for the small firm effect. Reasons for existence of small firm effect Misprinting Some researchers explained the small firm effect as misprinting from the measurement or method error of assets price model, but Roll (1983) finds this is not the case. He believed that the frequency of trading and holding period can affect the beta estimates. The risks of small firm were undervalued and returns were overvalued for small firms in short holding period (Roll 1983). Furthermore, as small firms are traded not often, the daily stock returns were delayed, the risk was undervalued (Roll 1983). However, Reengaging (1982) use the method of aggregated coefficients to estimate the stock risks and finds undervalue of risks for small firms is not a strong evidence for small firm effect. The study done by Fame and French (1992) also shows firm size is better at explaining the excess returns on small firm than stock risks. Transaction cost The transaction cost for small firms are usually higher than that for large firms. Transaction cost includes direct cost and indirect cost. Indirect cost includes brokerage fees and bid-ask spread. Indirect costs include fees generated by information searching and portfolio management. Amid and Mendelssohn (1986) regard the bid-ask spread as representative of stock trading frequency. Larger bid- ask spread means market thinness. Then they built three models to test the relationship among stock returns, risk of stocks and bid-ask spread. The result shows relationship between stock returns and bid-ask spread are significant stronger than allegations between stock returns and risk of stocks at explaining the small firm effect (Amid and Mendelssohn 1986). Furthermore, Amid (2002) believed that expected market liquidity has a positive influence on ex-ante excess stock returns and return on stock is negatively related over time to contemporaneous unexpected liquidity. Liquidity has stronger influence on small firms (Amid 2002). Amid proved his hypothesis by examine stock in NYSE from 1964 to 1997. Less available information The third reason of existence of small firm effect is small firm has less available information. Theoretical research has proved that firms with less available information should, other variable remain unchanged, get higher returns to make up estimation risk (Manhattans). Thus, less average available information for small firms may be the reason of small firm effect. Nathan (1996) proved this hypothesis in his article. Different fundamental structure Different fundamental structure between large firms and small firms may be one of the reasons for small firm effect. Small firms in NYSE are less efficiently run and have higher financial leverage and these kinds of risks are not easy to be captured by arrest index compare to large firms (Chain and Chem. 1991). Thus the small firm should get higher stock return to make up the estimation risk. Exploit ability and limitation of profit-earning strategy This essay believes that small firm effect is not exploitable now. Somebody may argue that profit can be earned by taking long positions in a portfolio of smaller firms and taking short position in a portfolio of larger firms. In fact, it is hard to keep a portfolio with small shares which long and short position can be held and traded quickly in the real world (Bradford, Haney and Billion 2011). Furthermore, the transaction cost of take short position is larger than take long position (Bradford, Haney and Billion 2011). Moreover, the article written by Damson and Marsh (2001) points out excess return of small companies will eventually move towards reverse and their study shows stock returns of small firms were 6% lower than the large firms from 1989 to 1997 which indicate the small firm effect already move towards reverse in U. K.. Conclusion In conclusion, this essay does not recommend the fund manager use strategy of taking long positions in a portfolio of smaller firms and taking short position in a oratorio of larger firms to exploit as loss may occur.

The eNotes Blog Book Covers Anew!

Book Covers Anew! Were all familiar with classic books (hence we call them classic). But along with the memorable stories they tell, these books have relatively well-known cover art. Were betting that if youre asked about  the cover of  Catch 22  or a Salinger novel, youll have something in mind. For that reason, we at thought it might be fun to take a look at some landmark  titles and imagine what different, updated covers could  look like. Below are five covers imagined (and painstakingly created) by yours truly! White Fang by Jack London Inspiration for this cover came from just about where you would expect: White Fang himself. The novel focuses on  the protagonist, a dog/wolf hybrid named White Fang. Throughout the story, our canine leader is taken from place to place and home to home, becoming increasingly embittered as he goes. Eventually it seems things might  work out for him, but youll have to read the novel to know for sure. Because White Fang is mostly wolf, he is on multiple occasions ostracized from his full-dog companions, and this leads to a sense of isolation and loneliness. Therefore, Ive drawn him alone in a seemingly cold forest. Robin Hood by Unknown* Ill  direct anyone unfamiliar with the story of  Robin Hood to an iconic scene in  Shrek where an animated Robin sings with his merry men in an effort to save the princess from the dreadful ogre and his talkative donkey- this is really a good depiction, if a littlesillierthan the original telling. After all, Monsieur Hood does  steal from the rich and gives to the needy, he takes a little for himself, but hes not greedy! Inspiration for  this piece came less from the story itself and more from the time period from which it emerged.  Thus I went with a  wood-like background and medieval folksy font. The figure of Robin Hood is black and white to show his character as a two-sided figure. Dracula  by Bram Stoker Dracula has been made, remade, re-imagined, made fun of, altered, re-told, etc. more times than can possibly be iterated. The original tale as written by Stoker was based on Prince Vlad III of Wallachia, who was  posthumously awarded the title of Vlad the Impaler (this man is fascinating and creep-tastic- I recommend looking him up). The novel is about, as you would imagine, a count/vampire that terrorizes Northern Europe. He begins with an English solicitor  and moves on to  the conversion and murder of countless victims. Its a great and creepy story that makes you want to snuggle with a blanket and tea- after youve locked the doors and windows, of course. To create this image, I looked into the dramatic  representations of  Dracula made popular  by the  cinematic visualization of the 1930s. I used cartoonish drama to represent both the Count and his victim, and bright colors to bring the bloodiness to life (ignore how gross that sounds). Beowulf by Unknown* As a story,  Beowulf is old- as in written in Olde English kind of old. A story that has been around that long is sure to be full of some interesting details- in this case an overabundance of nasty monsters, a monarchy, some battles with the aforementioned monsters, a lot of gold, and dragons to protect said gold (and battle with ol Beowulf himself). Though the original writing is rather difficult to get through (it usually takes a scholar to decipher the Old English), the tale itself is really fantastic and translations are  worth the effort if you like fantastical adventures. I drew inspiration from the character Beowulf and one of his adversaries- that dragon I mentioned earlier. Color was strategically chosen to highlight characteristics I saw as  important to the story, such as the brightness of the flame, which could indicate both the bright fierceness of Beowulfs character or the fierceness that comes with fire. The Tell-Tale Heart by Edgar Allan Poe This short story by our master of goth, Mr. Poe, is one of his more famous tales. You may already know that this story features two primary characters, an elderly man with a ghostly eye and his more youthful roommate. The younger man, though friendly with his older companion, finds himself loathing  the other mans cloudy and sightless eye. Increasingly disturbed by the eyes perceived  eeriness, the younger man spies on the old man and  eventually  murders him. Later, upon inspection by police (and a fit of madness), the young man confesses to the  murder, all while imagining that he hears  the beating of the old mans heart. This cover art was inspired by all of the description above. The old mans eye is of course the most prominent feature, and its pupil is replaced by the panic-stricken heart. Because  the eye described in the story is lacking a pupil, I put the heart in its place. The black bars to the side are meant to represent the caretaker peeking through the door to watch the elderly man sleep. *We say Unknown because these texts are either so old or so commonly reproduced that the identity of the original author has, sadly, been lost.

Evidence, Proof, Argument AND Criminal Law Speech or Presentation

Evidence, Proof, Argument AND Criminal Law - Speech or Presentation Example In the case, your honor, the defendant confronted the victim for raping his girlfriend. The defendant stabbed the victim and he died. He was convicted of murder, but later appealed on the defense of loss of control. The defendant’s appeal was dismissed on the grounds that he was aware of what he was doing. It was established in the ruling that loss of temper cannot be confused with loss of control. Loss of control is defence only where the mind is not in control of the body. The defendant in the case before us today was aware of what was going on around him during the attack If it pleases your Honour, I would go through the qualifying triggers under section 55 (3) (4) of the Act in relation to the case at hand, to demonstrate why loss of control should be withdrawn. The defendant did not express any serious fear towards the victim either by words or actions. The victim was merely acting in defense of his friend, knowing a little more than what he saw after being woken up. Instead of fighting back, was it possible for the defendant to surrender? In the case of R v Martin (Anthony) [2002] WRL1; [2002] CAR 27 Crim LR 136; the defendant shot a burglar (the victim) and argued that it was out of self defence. The defence was not available because the level of force used was more than reasonable. The defendant was convicted of murder. In his witness, Detective Sergeant Philip Dennis said that the defendant was examined and it was found that the damage was not too severe and he was fit to be detained and interviewed. This shows that the victim attack did not threaten the life of the defendant and it was unreasonable to stab him. In the tape recording of the interview, the defendant expressed no remorse that the victim was dead. Was the defendant in this case your honour seriously wronged by the victim’s words and actions leading him to act out of character? I believe not. The defendant’s behaviour provoked

Materials Essay Example | Topics and Well Written Essays - 250 words

Materials - Essay Example This paper focuses on the advancement of â€Å"non-clinker green cement† through the utilization of cement kiln dust (CKD) and fly ash (FA) (Shah & Wang 16). CKD has incompletely calcified substances possessing hydraulic and cementitious qualities. In addition, sulfate, alkali, and chloride elements are high and may affect the quality of cement performance. FA, on the other hand, contains mostly vitrified alumina-silica melt and minute amounts of crystalline elements such mullet, quartz, and mica (Shah & Wang 16). Previous research indicates that appropriate blending of CKD and FA may yield a cementitious matter, thus changing waste into useful substances. This paper looks at three methodologies of activating the hydration of CKD-FA binders. These are mechanical, thermal, and chemical. Chemical activation involves the addition of 2 % and 5% sodium hydroxide to the CKD-FA systems. Thermal activation entails curing at temperatures between 38 and 50oC in comparison with curing at 24oC. The study utilizes various compositions of FAs and CKDs. Finally, mechanical activation engages various grinding regimens ranging from simple, vibratory mill, ball mill, combined (ball mill and vibratory mill grinding) and grinding aid in the form of high-speed mixing (Shah & Wang 17). The process realizes that various activation methods give various strengths at different compositions of CKD and FA. For example, highest strength arises from the addition of 2% NaOH to a binder comprising of equal quantities of CKD and FA cured at 38oC (27 MPa (4000 psi) at age of 56 days) (Shah & Wang 17). Grinding activates the materials both chemically and mechanically. This paper, therefore, concludes that estringitte is the key crystalline hydration outcome of CKD-FA, vibrator grinding for four hours is the most efficient mechanic-chemical activation technique. Addition of NaOH hastens chemical disbanding but lowers estringitte development in hydration of the binder. Overall, utilization of

WestJet Airlines Ltd. WestJet and Air Canada Term Paper

WestJet Airlines Ltd. WestJet and Air Canada - Term Paper Example It also has a loyalty card and rewards program (WestJet, n.d.). Key Features and Benefits The company renders flight security services with also helping the people book flights, hotels and car rentals from airports online. In terms of special benefits the company renders special privileges for persons relating to special categories and also pertaining to the maternity category (WestJet, n.d.). WestJet in competition to Air Canada has introduced ‘premium economy’ seats to help the consumers enjoy an extra leg space that would be made available in the first four rows of the airlines. Though the booking of the ‘premium economy’ seats would tend to charge more from the consumers yet a comparison drawn reflects that the charge is half than charged by other premium airlines in the course of rendering boarding and on-flight amenities to its passengers. This premium seating model of the company helps WestJet to continue with its low cost position (Hasselt, 2012). We stJet’s Product Life Cycle The Product Life Cycle curve for a company has four stages like Introductory, Growth, Maturity and Decline. WestJet reflects a growth in terms of market revenues and passenger traffic along the periods ranging from 2007 to 2011 from $2127 to $3072 million and from 14,545 to 21,186 million respectively. Thus WestJet falls in the Growth stage (WestJet, 2011, p.6). Products Rendered by WestJet and Consumer Needs WestJet renders online booking of flight, hotel and other hospitality services for both business and corporate passengers along with vacationers. Along with insurance and security benefits the company also renders an extensive reward program catered to meet the needs of loyal consumers (WestJet, 2011, p.10-14). Passengers through the above services can book their flights and hotels associated with the airline company in an online fashion that helps in making their tour more comfortable. Insurance and security benefits help the passengers retrie ve their expenses related to their vacation and tours in cases of any emergency. Further the loyalty scheme of the airlines company helps the consumers avail special discounts and promotions rendered by WestJet during special occasions. WestJet’s Offerings vs. Its Competitors West Jet’s service offerings in comparison to other flight servicing companies operating in the Canadian landscape like Air Canada and American Airlines gain dominance in being able to provide the best quality of service at highly affordable or economic rates. Moreover the company operating on the basis of hub and spoke model reflects higher interconnectivity than its competitors (Grant, et al., n.d.). When, How and by Whom are the services of WestJet Procured Flight touring services and amenities rendered by WestJet are procured by people in times of deciding on vacations and also while planning to take short business tours. Services and amenities rendered by WestJet relating to booking of flight s, hotels, car rental services along with travel insurance benefits can be availed by the consumers through the help of online portals. The consumer or passenger traffic in WestJet consists thus of passengers that are frequent vacationers or are tending to visit places relating to their business and professional needs (WestJet, 2010, p.9; Lamb, 2011, p.571). Market Segments of WestJet WestJet mainly focuses on being a low-cost carrier rendering services to economy class passengers. Moreover the airlines company also caters to the needs of consumer segments through the transportation of cargo commodities on board (Aylen, 2012, p.250). Consumer or market segmentation of WestJet can be made in terms of Leisure Class Passengers that tend to avail flights for tour or vacation

Development of Education in the UAE

Development of Education in the UAE UAE social development is heading in the right direction. Education and its development is one agenda that top the lists of UAE government, be it development of primary, secondary, and higher education. The attempt of this paper thus, is to trace the theme of development of education in UAE. The methodology undertaken focuses on the primary and secondary resources as defined. Structurally this paper is organized to brief the purpose of the research, followed by subject matter issue, the research questions and literature review, as a step to reach an analysis to the core subject matter in relating to the discussion and finally its conclusion. . Introduction Knowledge as one basis of human life is an important aspect. But how does one acquire knowledge? We can readily agree that education is one factor of it Education in the contemporary context is very vital. A lot of talks in recent time among global leaders and educationist also have gone at length to emphasize the need of education as one basis of human life and growth. Debate surrounding the development of education in many nations around the globe also is one heated theme. As we take a leap towards knowledge economy, the need and requirement of education cannot be sided apart. As human, we have the capability to learn. However, in that regard education also plays a bigger role in the society to impart the learning process. This is where we can begin our arguments encompassing the subject matter and the theme in general encompassing education and its developments. Summing it all up, education and the role that it plays in the society today is very crucial. However, factor surrounding the same is that proper facilities and infrastructure also have to be met with as far as fostering quality education is concerned. The state machinery also requires a through look into the matter of such great importance to facilitate a process that is meaningful and feasible to expand the realms of education and its reach among people. Purpose and objective of the research The purpose and objective of this research in particular is to take an analytical look into the theme encompassing education and it developmental phase in the society today. Together with it, reason behind the study also is to have a better understanding on the theme of education primarily as one factor to take an in-depth analysis that limits itself to the development of education in UAE. Thus, to simply the objective and purpose of this research, it would be prudent that the following is also highlighted: To have a better and deeper understanding on the topic of Development of Education in UAE in recent time. To emphasize on the study and research encompassing how education machinery works in UAE. To understand the educational system and infrastructure in UAE, when it matter to primary, secondary and higher education process and its development. To know about the different aims and objectives of Education policy and the machinery of educational development phase in UAE in the contemporary context. Most important objective was the experience and learning objective that can be garnered by doing a thorough research on the subject matter, which we are of the opinion provides a basis for a better and deeper understanding on how the development of education in UAE is taking shape in recent times, which would otherwise have not been possible without undertaking this project. Subject matter issue The subject matter issue of this work limits itself on Development of Education in UAE. In that reasoning, we feel that there is no lack of issue to be identified. For example, UNESCO also have highlighted in the recent report that dates back to 2000 on the prospects and necessary change required to strengthen the UAE economy and to build a future of bright minds and solid leadership in the country. Not surprisingly, the report states that the UAE have taken a great and formidable stride as far as development of education in the society are concerned. In that respect the development of education in UAE also have made substantial progress to facilitate a foundation for basic education in the society and is machinery towards the ambitious goals of providing education for all. (WorldEducationFurum, 2000) From this analysis in parts, we can identify as where to reflect the basis of our subject matter issue. There is no doubt that education processes in UAE is heading in the rights direction. However, how far such progression is, or when it matter to the reality surrounding the development of education in UAE is still subjected to debate, which this paper and the attempt made herein is to identify the pros and cons of the development of education in UAE today, and in particular how the educational machinery in the state works. Research Questions Following the subject matter issue as briefed above, the research question that arises in that regard are detailed as follows:- What are the educational machinery and its developmental processes in UAE? What role did the UAE government played in the development of education in UAE? What are the measures undertaken by UAE government in making the education practices in UAE at par with global standards? What are the goals and objectives of the new organizational framework for the development of education in UAE? In that regard, how has the ministry of education and youth affair in UAE contributed to the ambitious goals of education and its development in the society? What are the roles played by private and public educational undertaking in contributing to the development of education in UAE? Finally, do the UAE and the society at large have proper educational facilities and infrastructure to be at par with global education standards that strives for quality, assessments, feasible learning environment of the student community from the primary level of education until the higher education level? Methodology To gather information about this project on the theme of Development of Education in UAE much of it has been gathered through electronic sources relevant to the subject matter that relates to the UAE and in particular to educational forums that discusses the topic. Literature reviews and study in that regard also is one crucial methodology undertaken to reach an understanding as far as education, the value attached to it and most importantly the development stage in the contemporary society today. Simply, the methodology undertaken for the study of this research is differentiated between primary and secondary methodology. Primary Research Methodology: Electronic sources that assisted in gathering information relevant to the subject matter analysis can be accorded as one primary methodology, which has been vital for in enabling the research to focus on the core of the subject matter. In those aspects, resource acquired includes news articles and reports. Together wit it, the questionnaire developed for the purpose of the subject matter is also one aspect of the primary research and methodology. Apart from it, forum for educational discussion such as the UNESCO reports that limits itself to UAE and its educational phase is also one aspects of the primary methodology. Overall, it can be sum up that the primary resource and information gathering in that capacity is to justify the facts that are salient to the subject matter, which to a great extent news reports have been feasible for the analysis overall. Secondary Research Methodology: For other secondary information, literature review related to the theme of the subject matter has been beneficial enough to provide a clear understanding as far as the subject matter concerns. Literature review also provided a basis to lay emphasis to the crucial issue surrounding educations and its processes in general, which further assisted to limit the analysis in crucial arena that reflects to UAE and educational development in that regard. Literature Review To begin with in this note, we are of the opinion that education is one significant factor and there are several noble goals attached to it. Above all, Plato, one of the most renowned Greek thinkers also asserts that the direction in which education starts a man will determine his future life. (Plato, 1996) This quote in particular gives a precise and clear impression as to why education is of valuable importance. When we begin to ponder on these thoughts and to limit our analysis on educational and its developments, we see that many nations around the globe today also stresses that education and its foundation in the society today is significant as a measure undertaken to strengthen the foundation of the nation and its future. As the contemporary society takes a leap and bound as far as growth and development is concerned, education and its developmental phase also find a place of representation in that regard. Many renowned personalities and leaders also have emphasized the fact that education is one tool of empowerment and a powerful tool indeed. To begin with in that regard, scholars also are of the opinion that schooling is unavoidably a moral enterprise, and its impact in that regard also is both intrinsic and extrinsic. (Pandey, 2005, p. 1). Driving home from this point in contention, we fully agree that educational facilities and learning environment that are fostered through schooling have a powerful impact on the morality of human and their behavior. This salient factor of education is the basis of analysis when we reflect from a social and cultural context. Together with it, many educationist who advocates the values of education also relates to the fact that education as one basis of it all in the cultural and societal realms provides a formidable foundation to learning, especially when it matter to embodied the aspects of self-esteem, community services, multicultural educations, civic education, etc to name but a few. (Pandey, 2005, p. 2) Hence, from this part of the analysis, we can derive as to where education finds its place of representation in the society today. It is not surprising that policy makers also take a great measure to address the value of education. That is why we see reason enough that measure and initiation undertaken for the development of education readily register with the society and policy makers who are aware that the value of education in the society also marked the foundation of empowerment of individuals and as well as the future of the society. The Development of Education in UAE As far as UAE goes, one important point to relate to the theme of the subject matter can be related to the latest reports available with Arabianbusiness.com in which it is highlighted that the president of UAE, Sheikh Khalifa bin Zayed Al Nahyan, also stresses the need of the hour is to formulate policies for the effective development of educational processes, which tops the Agenda of the government. (Attwood, 2010) In that essence we can emphasize as to where the basis of education and its development in UAE is progressing. As we are aware, the foundation of education system in UAE is already there. Take for example the fact that investment taken by UAE government and policy makers as far as education is concerned is impressive, either when it matter to the structure that gives importance to primary education, secondary education and higher, plus technical education, where the foundation of infrastructural needs and system machinery are all being met out. (UAEInteract) Together with it, what we can further augment the fact of educational development in UAE also can be related to the social development aspects of education in UAE. What the news reports highlighted is that since the foundation of the state of UAE way back in 1971, the UAE government have emphasized to showered greater importance and interest in the development of education in the society, especially the development of education system in the country. (UAEInteract, Investment in UAE education sector on the rise, 2010) Hence, on the basis of this report, we can relate as to where the development course of education in UAE is heading. The foundation and roots of educational system in UAE have been there since the emergence of the state way back in 1971. However, recent measure undertaken by the government to initiate programs such as free and compulsory education for all is also a positive step of the development phase, which showed in the way of the literacy rate that have shot up from 53.5% in 1989 to 79% in 2000. (ArabianCampus.com) Furthermore, the education system in UAE in particular also is structuralized to meet the standards of global education. Add to it, the basis of the educational system in UAE also is to meet the requirement of the society for comprehensive education starting from the primary level till the secondary level, as well as university education. What is crucial to note is that educational sector in UAE have blossomed tremendously as a measure to reach individuals in the society and their needs for formal education. (ArabianCampus.com) Discussion When we lay emphasis to the analysis above, we can drive home the idea that the development phase of education and its process also have taken a new leaf of life in the contemporary context. In that respects, discussion that follows also reflects the opinion of public in UAE as per the survey carried out by GulfNews.com surrounding the theme Money vs. education, which is interpreted below. As per the reports available with Gulf News relates, many readers in the survey undertaken viewed their opinion that education provide a foundation to be financially sound as well as to be educated. (Khan, 2009) Some other readers who participated in the survey also are of the opinion that money and education are both important. Yet the greatest response that has been reached among participants in the survey is that education is very important and most respondents are in favor of education as a factor to means to earn money. The adage knowledge is power also represents the responses of respondent. (Khan, 2009) Conclusion This study has been crucial to understand the salient aspects surrounding education, especially the matter of the theme that relates to Development of Education in UAE. Thus, what we can conclude is that education is very vital in today contemporary context. The measure undertaken by UAE government to facilitate formal education in the society and necessary actions undertaken to invest in the development of education is impressive. As we have highlighted above, measure undertaken by UAE government in context of educations, be it providing free and formal education, setting up infrastructure for educational purposes, investing and attracting investment in the private educational sector overall reflects what we can conclude as the development stage that have reached its pinnacle. Yet there is every reason to belief that a lot of development in other fronts is also required to be undertaken. Hence, setting the standards of education that emphasize on meeting the objective to be at par with global educational system is also crucial, given that today education emphasize on a global arena and plays a pivotal role for employment and empowerment.

The Economics of Illicit Drugs Essay -- Crime and Drugs

In this essay I will define drug abuse and show the economic impact of the sales of illicit drugs. I will introduce an argument for legalization and the impact to the economy. Next I will discuss some of the economic cost from lack of productivity, health care cost and other cost associated with Drug abuse. In order to understand the economic impact of illicit drugs we must first define what a drug is. A drug is defined as any substance other than food that affects the way your mind or body works. Abuse is defined as the wrong use or misuse of something. So drug abuse would be defined as the wrong use of drugs. As a D.A.R.E. officer, this definition has been ingrained into my mind for the past eighteen years. During my twenty years of Law Enforcement I have learned how dangerous drugs are to the economy. They damage your body and drug abuse also has a huge economic impact on the country. In the United States there are two types of drugs legal and illegal. The legal drugs have two subcategories, prescription and over the counter. Prescription drugs are placed into different categories called schedules. The ones that have a highest chance for abuse or addiction have a higher place in the schedule. Schedule I drugs are the drugs that have no safe or accepted medical use in the United States. Examples are heroin, marijuana, LSD, PCP, and crack cocaine. As you go down the schedule the drugs become less addictive and have a small potential for abuse, but are still controlled by the Drug Enforcement Agency. Schedule V are the lowest controlled drugs. Examples are codeine, valium and xanax Non prescription drugs are those that are sold over the counter and you do not need a prescription to purchase. The illegal o... ...0,000,000 on the health care, productivity and other cost, yet in the same time period we only spent $150 Billion on enforcing the drug laws. If we focused on the treatment and rehabilitation of drug abusers, I feel a substantial portion of the trillion dollars could be used for other things. The economic benefit could possibly be unmeasurable. Works Cited Bureau of Justice Statistics (BJS) . (n.d.). Bureau of Justice Statistics (BJS) . Retrieved April 10, 2011, from http://bjs.ojp.usdoj.gov/ Moomaw, R. L., Olson, K. W., & Edgmand, M. R. (2007). Crime and Drugs a Modern Delima. Economics and contemporary issues (7th ed., pp. 201-216). Mason, OH: Thomson/South-Western. THE ECONOMIC COSTS OF DRUG. (2001, September 1). National Criminal Justice Reference Service. Retrieved April 7, 2011, from www.ncjrs.gov/ondcppubs/publications/pdf/economic_costs98.pdf

Marco Polo and Ponce de Leon

My two explorers are Marco Polo and Ponce De Leon. Marco Polo was one of the most famous westerner travelers. He traveled across Asia. He sailed south from Venice, Italy in the Mediterranean Sea. He also explored an area south of Beijing and the coast of china which is now Vietnam. Ponce de Leon sailed for Florida in the Americas. The reason why Marco Polo did his exploration was to find all kinds of different goods to trade.He did this because he was learning about trading goods. He was able to find perfumes, jewels, porcelain, and silk garments. He made lots of money while he stayed in Khan’s court. Pone de Leon’s reason for his expedition was because he was hurt by the king’s action for making Columbus’ son governor so he sailed off. Also he reason was to find new lands and treasures. Another thing was the Fountain of Youth, which was a mythical spring that the Indians spoke of.The Fountain of Youth was believed to make older people young again. Some of Marco’s hardships came when he was traveling to the Gobi Desert. It was hard without camels and was very hot. It was also hard not having food or water. Some times Marco felt like he was in a dream because he would hear frightening sounds, he would see ghost figures of his friends, and was having weird illusions. Some of Ponce de Leon’s hardships that he faced where he was ambushed by the Calusa Tribe.He was ambushed by them on his way back to Florida to start a farming colony. He was shot in the thigh by an arrow and was seriously wounded, so they decided to sail back to Cuba. The result of Marco’s expedition was that he ended up in prison because he was in war against the Genous and was captured. The result of Ponce de Leon’s expedition was that he never found the gold or the mythical fountain. Also he died at 61 because of he serious wound.

Poetry Appreciation Essay Essays

Poetry Appreciation Essay Essays Poetry Appreciation Essay Essay Poetry Appreciation Essay Essay In this essay I am traveling to compare and contrast ‘When we two parted’ a verse form of George Gordon. Lord Byron’s written in 1815 and Letitia Elizabeth Landon’s ‘Love’s last lesson’ written in c1838. both poets are British and of the romantic period. ‘When we two parted’ is an lament of the loss of love. Byron is reflecting and analysing a relationship that has already ended. His heartache. choler and desperation. intensifies his usage of first individual. which maintains a strong impact on the audience throughout. The verse form is powerful. personal and unreserved. the emotion and passion is decidedly felt through his authorship. Byron’s message is equivocal ; so the reader is able to do their ain premise this is the beauty of the verse form. it is capable to single reading. doing it inclusive and relatable to many different state of affairss. The construction of the verse form is separated into four stanzas each one being an eight. Punctuation suggests that every two lines can be read as one. the meter of the verse form is iambic pentameter. each line holding 5 iambs and 10 syllables when two lines are read as one. The riming form in stanza one. two and four is ababcdcd but stanza three is ababacac. The verse form chiefly has a regular rhyming strategy but the ‘flow’ is disrupted in stanzas one and four lines five and six. I am non certain if this was knowing. I believe the verse form can be interpreted in many different ways ; the overall feeling is the separation of two lovers. throughout the verse form there are legion mentions proposing mourning. loss and unfaithfulness. In the first Stanza the metaphor ‘Pale grew thy cheek and cold. colder thy buss ; ’ uses pale and cold in contrast with the rose-colored warm imagination of life. this could really good be an indicant of decease but could merely be an hyperbole of how he felt after the interruption up. On Line four the statement ‘To sever for years’ is equivocal as it suggests a drawn-out separation but can besides intend cut in two therefore could be related to line three ‘Half broken- hearted’ . another interesting point is that the Byron used the word old ages instead than infinity or everlastingly. possibly there was a hope of being reunited once more in the hereafter. ‘Sorrow’ symbolizes the heartache and bereavement he feels. non needfully for person who has passed off merely merely a loss. In stanza two ‘The dew of the forenoon. Sunk iciness on my brow’ the dew is the cold moisture. the image of rain could be an fable of cryings and meaning his wretchedness. ‘Thy vows are all broken. ’ implies his ‘lover’ was or is married or the promises she made to him were shattered. later Byron speaks of feeling ashamed when he hears his/her name. perchance because their relationship was illicit. The undermentioned stanza uses a powerful look ‘They name thee before me. A knell to mine ear ; A frisson comes o’er me’ a knell is the sound of a dejecting bell round easy at a funeral. his lover may hold died or Byron could once more be overstating his emotions. speech production as though his lover or ex lover has passed off. On line 20 Lord Byron asks ‘Why wert 1000 so beloved? ’ why were you so particular? Or why did I love you so much? . he is oppugning and resenting these feelings. the verse form so goes on to asseverate that cipher was cognizant of the relationship non even those that knew them both good. ‘Long. long shall I repent thee. excessively profoundly to state. ’ Byron is clearly stating that he bitterly regrets the state of affairs. wishing it had neer occurred possibly even experiencing guilty if his lover was married. Finally the 4th stanza confirms an matter of some kind ‘In secret we met- In silence I grieve. That thy bosom could bury. Thy spirit deceive’ . if his lover had died or simply returned to his/her spouse. so he would still sorrow in silence as the relationship was private. Byron feels betrayed and acrimonious about the relationship. the usage of the word ‘spirit’ once more gives the feeling of decease. ‘If I should run into thee. after long old ages. how should I recognize thee! With silence and tears’ . the last line of the verse form is a echo of the 2nd line ; giving an feeling of indecision. whilst the exclaiming grade puts the echoed line in a different context. when they meet once more it will be with silence and cryings nevertheless the silence will hold a different significance and the cryings will non be 1s of sorrow. It is about like each stanza represents the rhythm of Byron’s emotions. stanza one is the initial dissolution and the start of his sorrowing procedure. in stanza two Byron is still distressed and goes on to show his letdown and embarrassment. by stanza three he is ashamed of himself. oppugning the love and profoundly repenting the state of affairs eventually in stanza four he is acrimonious and fantasising of how he would ignore her/him if they were to of all time run into once more. Love’s last lesson’ is a soliloquy stand foring Landon’s defeat. My feeling is that the character has fallen for person who hasn’t returned her love or wasn’t taking the ‘relationship’ every bit earnestly as she was. The construction of the verse form is free poetry ; it has neither regular meters nor rime In lines one to eight Landon expresses her choler and defeat towards her ex love. who has evidently moved on and bury their relationship with easiness. she can non grok how it is her that’s been dismissed as she feels she was the perfect comrade. Landon uses words from a semantic field of faith ‘I who have worshipp’d thee. my God on earth’ is a strong statement but the metaphor emphasizes her absolute worship for him. ‘Your last bid. bury me. ‘she speaks approximately him as though he has control over her and she must obey him. ‘Will it non drop profoundly down within my inmost psyche? ’ oppugning herself for comfort the poet doesn’t think it’s possible to travel on. ‘Forget thee! – ay. forgetfulness will be a clemency to me’ she truly wishes she could hedge her emotions. it would discontinue her grief. The injury has taken control of her life to the extent of avoiding slumber in fright ; she relives the torment in her incubuss ‘a dream had made me unrecorded my sufferings again’ . The dreams she has are in fact worse than world. ‘Acting my misery. without the hope my foolish bosom still clings to. ’ the lone thing Landon can make now is ‘hope’ that there will be some patterned advance even though she herself thinks it’s extremely improbable. her hope is the merely positive thing she has left other than the grief and sorrow. she uses the simile of hope being like a drug that calms her hurting somewhat until the realization hits which makes it intolerable ‘double torture’ . Landon is isolated and passing her yearss entirely feelings nervous and uneasy. ‘when a breath sent the ruby to my cheek. like the ruddy gushing of a sudden lesion ; by all the careless expressions and the careless words which have to me been like the Scorpios stinging’ ruby and ruddy flushing to the cheek gives an imagination of shame. this gave me the feeling of calumny. Landon may hold a history that she isn’t proud of and that is what she really wants to bury. the manner she is being disregarded is what is aching more than anything as she said it was like a ‘scorpion stinging’ which is a simile for indefinable hurting. In this stanza Landon makes some powerful statements ; her felicity has been destroyed everlastingly. she’s deemed with ageless wretchedness. her feelings have been wasted. her wellness destroyed. her hopes have been crushed and her bosom stole.

Character Study of Helmer in Ibsens Famous Play

Character Study of Helmer in Ibsen's Famous Play One of the two main characters in the play, Torvald is the husband whose dolls house is torn apart at the end of the show. His character is far from ideal- but upon seeing a production of Henrik Ibsen’s A Doll’s House, audiences are left with an important question: Should we feel sorry for Torvald Helmer? At the plays end  his wife, Nora Helmer, abandons him, leaving behind her three young children. She claims that she doesnt love him. She can no longer be his wife. He begs her to stay, yet Nora denies him, walking off in the middle of the winter night, slamming the door behind her. When the curtain closes upon a pathetic, defeated husband, some viewers find that Torvald has received his comeuppance. Torvalds demeaning personality and his hypocritical actions justify Nora’s harsh decision to leave. Examining Torvald’s Character Flaws Torvald Helmer possesses many obvious character  flaws. For one, he constantly talks down to his wife. Here is a list of his pet names for Nora: â€Å"My little skylark†Ã¢â‚¬Å"My little squirrel†Ã¢â‚¬Å"My little singing bird†Ã¢â‚¬Å"My pretty little pet†Ã¢â‚¬Å"My little sweet-tooth†Ã¢â‚¬Å"My poor little Nora† With every term of endearment, the word â€Å"little† is always included. Torvald views himself as the emotional and intellectual superior of the household. To him, Nora is a â€Å"child-wife,† someone to watch over, to instruct, nurture and censure. He never considers her an equal partner in the relationship. Of course, their marriage is one typical of 1800s Europe, and Ibsen uses his play to challenge this status quo. Perhaps Torvald’s most dislikeable quality is his blatant hypocrisy. Many times throughout the play, Torvald criticizes the morality of other characters. He trashes the reputation of Krogstad, one of his lesser employees (and ironically the loan shark that Nora is indebted to). He speculates that Krogstad’s corruption probably started in the home. Torvald believes that if the mother of a household is dishonest, then surely the children will become morally infected. Torvald also complains about Nora’s late father. When Torvald learns that Nora has committed forgery, he blames her crime on her father’s weak morals. Yet, for all his self-righteousness, Torvald is a hypocrite. In the beginning of Act Three, after dancing and having a merry time at a holiday party, Torvald tells Nora how much he cares for her. He claims to be absolutely devoted her. He even wishes that some calamity would befall them so that he could demonstrate his steadfast, heroic nature. Of course, a moment later, that wished-for conflict arises. Torvald finds the letter revealing how Nora has brought scandal and blackmail into his household. Nora is in trouble, but Torvald, the supposedly shining white knight, fails to come to her rescue. Instead, here is what he yells at her: â€Å"Now you have ruined my entire happiness!†Ã¢â‚¬Å"And it’s all the fault of a featherbrained woman!†Ã¢â‚¬Å"You will not be allowed to bring up the children, I can’t trust you with them.† So much for being Nora’s dependable knight in shining armor! Examining Noras Complicity To Torvald’s credit, Nora is a willing participant in their dysfunctional relationship. She understands that her husband sees her as an innocent, child-like persona, and she struggles to maintain the faà §ade. Nora uses the pet names whenever she tries to persuade her husband: â€Å"If a little squirrel were to ask every so nicely?† Nora also carefully hides her activities from her husband. She puts away her sewing needles and unfinished dress because she knows that her husband does not wish to see a woman toiling away. He wishes to see only the final, beautiful product. In addition, Nora keeps secrets from her husband. She goes behind his back to obtain her ill-gotten loan. Torvald is too stubborn to ever borrow money, even at the cost of his own life. Essentially, Nora saves Torvald by borrowing the money so that they can travel to Italy until her husband’s health improves. Throughout the play, Torvald is oblivious to his wife’s craftiness and her compassion. When he discovers the truth, in the end, he is outraged when he should be humbled. Should We Pity Torvald? Despite his many flaws, some readers and audience members still feel tremendous sympathy for Torvald. In fact, when the play was first performed in Germany and America, the ending was changed. It was believed by some producers that theater-goers would not want to see a mother walk out on her husband and children. So, in several revised versions, â€Å"A Doll’s House† ends with Nora reluctantly deciding to stay. However, in the original, classic version, Ibsen does not spare poor Torvald from humiliation. When Nora calmly says, â€Å"We two have a lot to talk about,† Torvald learns that Nora will no longer be his doll or â€Å"child-wife.† He is astounded by her choice. He asks for a chance to reconcile their differences; he even suggests that they live as â€Å"brother and sister.† Nora refuses. She feels as though Torvald is now a stranger. Desperate, he asks if there is the smallest hope that they might be husband and wife once again. She responds: Nora: Both you and I would have to change to the point where†¦ Oh, Torvald, I don’t believe in miracles any more.Torvald: But I will believe. Name it! Change to the point where†¦?Nora: Where we could make a real marriage of our lives together. Goodbye! Then she promptly leaves. Grief-stricken, Torvald hides his face in his hands. In the next moment, he lifts his head up, somewhat hopeful. â€Å"The miracle of miracles?† he asks himself. His longing to redeem their marriage seems sincere. So perhaps, despite his hypocrisy, self-righteousness, and his demeaning attitude, the audience may feel sympathy for Torvald as the door slams shut on his tear-stained hopes.

Harms of Illegal Immigration Essay Example | Topics and Well Written Essays - 2250 words

Harms of Illegal Immigration - Essay Example The massive numbers of illegal aliens pouring across mainly the southern border has and continues to cause substantial economic, social and physical harms to legal citizens. These harms occur predominantly to those who are among the most vulnerable segments of the population: minorities, children, and the poor. The primary reason that the politicians are not interested in grappling with the problem of illegal immigration is because it stands to be a potent political issue that can be conveniently exploited by them (Oakland Tribune, 2007). Illegal immigration facilitates the politicians of all hues and affiliations with the opportunity to appeal to their vote banks. Democrats vociferously support illegal immigrants to cash on the fast altering demographics of the nation (Oakland, 2007). Republicans on the contrary use this issue to exploit and entice the citizens who are particularly concerned with the wastage of their tax dollars on non-productive aliens (Oakland Tribune, 2007). The problem is further bolstered by the vested interests who intend to thrive on the cheap labor of illegal immigrants, be it the hotel industry, construction business or agriculture (Oakland Tribune, 2007). ... The problem is continually being exacerbated by a flexible border security, 12 million illegal immigrants striving for sustenance, and a system that is hell bent on taking advantage of those who are willing to provide cheap labor (Oakland Tribune, 2007) The fundamental reason for the flood of immigration from Latin America, specifically Mexico (see Chart 1) is the disintegration of the Mexican economy predominantly resulting from free-trade strategies employed by the North American Free Trade Agreement and the International Monetary Fund (IMF). Chart 1. National Origin of Illegal Immigrants: 2004 Note. From https://classof08honors.wikispaces.com/preston. The rampant corruption within the Mexican government has also contributed significantly to the collapse of the Mexican economy. Due to IMF policies regarding Mexico, its economic output dropped 33 % in the past two decades. During this period, its foreign debt rose 359 % because of widespread looting of the national coffers. These factors caused the "collapse of all areas of productive economic activity and employment, is the primary driver of the flood of emigrants desperate to leave Mexico, to find some livelihood for themselves and their families in the United States" (Small, 2005). Throughout the history of America, people of differing ideologies have generally agreed on immigration controls. Public opinion polls have continually shown an overwhelming opposition to illegal immigration as well as for the concept of amnesty. Amnesty for illegal aliens is merely a reward for law-breaking and by whatever name, causes ever escalating future illegal immigration.

The Worlds Water Supply Essay Example | Topics and Well Written Essays - 1250 words

The Worlds Water Supply - Essay Example Will human have ample potable drinking water? What will be the effect of changes in water supply in the world food supply? These are some of the concerns this research aims to address together with present the current trends and future prediction of the world’s water supply. World’s water can be divided into two main classifications, namely salt water and fresh water. Majority of the world’s water supply is salt water, which comprises 97.5 percent of the total world’s water. Table 1 illustrates the classifications of water. Only the freshwater are usable by human and 70% of the fresh water in the glaciers and unusable. Table 2 shows the usage of the fresh water in the world. Evidently, majority of the exploitable water supply is used in agriculture, which includes irrigation and other food production process. However, most studies do not include possible water shortage in their analysis of food shortages (Seckler and Seckler, 1998). This is an alarming concern. Water is needed in the production of food, such as irrigation for the crops and other staple foods. Without factoring in water shortage to the current projection of food shortage, different scholars are already worried with the results, what more if they include water shortage in the projection. Table 3 gives an idea about the access to potable water and proper sanitation. In addition to this figures, Simonic (2002) and World Health Organization assessed that more or less 1.1 billion individuals in third world countries has no capacity to obtain or cannot have healthy drinkable water. While 2.4 billion of the world population is does not have ample water for sanitation (WHO, 2002). Moreover, 1.8 million individuals, of whom 90% are children below five years of age, die each year due to water-related cases. Another alarming concern is pointed out by the study of Jenerette and Larsen (2006) which argues that guaranteeing enough water supplies to more than 50 percent of the