Discuss the various perceptions of love in Shakespeare’s Romeo Essay

Discuss the various perceptions of love in Shakespeare’s Romeo & Juliet. Then choose two contrasting examples from scenes you have discussed and explain how you would stage them to show these contrasts. William Shakespeare wrote Romeo and Juliet in 1595. When it was written, Shakespeare was quite young, 31, already five years into his career. Queen Elizabeth I was on the throne at the time, and many of the characteristics of Elizabethan lifestyle are included within the play. In the Elizabethan times, it was not unusual for people to get married and have children young. In the play Lady Capulet says, â€Å"By my count, I was your mother much upon these years,† to Juliet, who appears to be about 12 years old. She is telling Juliet that she was already a mother at Juliet’s age, implying she should be getting ready to marry now. Women were also not considered of much importance in those days. They were not as ‘important’ as men, and just used for sex, which plays a big part in the topic of conversation between characters throughout the play. Women/girls also had to obey their fathers until they got married, and then obey their husbands when they did get married. It was a very male dominant era. Romeo and Juliet is partly a comedy, tragedy and history. It is a tragedy obviously because of all the death in it. It is a comedy because of the irony and contrast the characters raise, and also because of the humour some characters like Mercutio and the Nurse bring into the play. It is a history as well because of the fact it was written a long time ago, and has historical contents in it. There is a great deal of love and passion in this play, but not all the same. Different characters have different perceptions of love, and different passions. The play is also as much about hate as it is about love, which is a very important element. Shakespeare puts emphasis on themes such as the relationship of love and hate and old and young. This is what I will be analysing in the essay. The play tells the story of Romeo Montague and Juliet Capulet; the children of two rival families living in Verona, who fall in love and get married without their families knowing. The hatred felt by their families leads to the death of five people. Two of who are Romeo and Juliet, the star-crossed lovers who die because they want to be together but cant be. It shows the young as they struggle to escape from the morass of hatred created by their elders. The ancient family feud makes Romeo and Juliet’s union even more significant as they both hate each other’s families, but manage to overcome it when they meet each other. This play represents ‘true love’ because it shows pure hatred turn into pure love. Romeo and Juliet went against everything they were brought up with and gave up their lives to be together. Romeo is a very passionate person when we first meet him, and his passion stays throughout the play. We do learn however, that Romeo is very impulsive, and acts on this impulsive streak very often, and it leads him to do some stupid things, which I will show further on in the essay. The first reference to love in the play is in the opening scene where we meet Sampson and Gregory (two Capulet servants). They are both very vulgar and crude characters and show this straight away when they are talking about the Montague women. In lines 17-20, Sampson says, â€Å"Tis true, and therefore women being the weaker vessels are ever thrust to the wall. Therefore I will push Montague’s men from the wall, and thrust his maids to the wall. † This is where the punning becomes sexual. He is implying that he will assault the Montague maids against the wall. Later on in lines 27-28, he says, â€Å"Ay, the heads of the maids, or their maidenheads- take it in what sense thou wilt. † Here he is saying that he will either chop off the heads of the Montague maids, or rape them, depending on what he feels like. Their behaviour shows that they do not actually think of love itself, and only think of sex. They view women as mere objects to serve their pleasure. They are not the only bawdy characters in the play to have this perception of women and love thought. In act two, scene one (lines 34-38); Mercutio is making fun of Romeo’s talk of love for Rosaline. He talks about a ‘Medlar tree’, and describes sex as a ‘Medlar fruit’. He is saying that Romeo really wishes Rosalie were a Medlar fruit, even though he says he loves her, all he really wants is sex. This is probably because this is all Mercutio sees love as. The Nurse is another one of these characters. She constantly talks about the physical side of marriage. To her, love is merely about sex and having babies. For Sampson, Gregory, Mercutio and the Nurse, love is something non-emotional, and they have obviously never experienced love like Romeo and Juliet’s. Love for Romeo and Juliet is very emotionally bonded, and they cannot live without each other. This however does not mean there is no physical element to their relationship. Romeo and Juliet eagerly look forward to the physical side. This can be seen in act three, scene two, lines 1-30, where Juliet is looking forward to her wedding night, or her â€Å"love-performing night. † But even this is altered by their love into something of which Mercutio, the Nurse and the servants know nothing of. In act one, scene one, Romeo’s parents show parental love when they are concerned about him. The first evidence to show they care about Romeo is in lines 118-119, where Lady Montague says, â€Å"Right glad I am he (Romeo) was not at this fray,† meaning she was glad that Romeo was not involved in the fight that had just happened. In lines 133-144, Montague talks about Romeo’s worrying behaviour. He says that he is always crying, distances himself from everyone else, and shuts out light, making himself â€Å"an artificial night†. Montague is obviously worried about his son’s behaviour, and asks Benvolio if he could talk to Romeo because he does not understand him. This doesn’t mean however, that he does not care how Romeo feels, but he evidently does. It just shows the contrast between young and old. The first time we meet Romeo, he seems very sad and down (in the exact state his father describes him to be in). he is sad because he is ‘in love’. For Romeo, being in love (at this stage in the play) is a very painful, negative thing, especially because here there is a situation of unrequited love. However, by studying Romeo’s language in this scene, I believe that he is not in love with ‘Rosaline’, but infact in love with the idea of love itself. The fact that he does not say Rosaline’s name once, but talks about being in love, shows that the she is irrelevant. Romeo’s doting over Rosaline is introduced to show the difference between love and infatuation. He talks about love as a painful situation to be in, as shown in lines 195-196, â€Å"A madness most discreet, a choking gall, and a preserving sweet. † This changes drastically though, when he meets Juliet. From the second he sees Juliet (in act one scene five); you can see he has changed. He suddenly speaks in a more positive tone, with more positive views on Juliet not just of love. â€Å"O she doth teach the torches to burn bright. † Romeo is referring to Juliet as an actual person, whereas before he was talking about being in love (supposedly with Rosaline), but never refers to her as a person. On meeting Juliet he experiences ‘love at first sight’. He goes on to say, â€Å"For I ne’er saw true beauty till this night†. This shows that he has forgotten about Rosaline already, almost like she never existed. Romeo constantly compares Juliet to a saint throughout the play, â€Å"O then dear saint. † He has made Juliet out to be the most important person (to him), in the matter of minutes. In their first meeting, Romeo and Juliet share a sonnet (lines 94-107). This immediately shows the connection of love and harmony that exists between them. In the sonnet, love as a religion seems to be the key subject, and Romeo talks about it so passionately. He refers to Juliet as a â€Å"holy shrine†, and his lips â€Å"Two blushing pilgrims†. By studying Romeo’s language here, and that of which he used when we first met him, you can see that his feelings have gone from being self-centred, self deceiving and essentially negative, to less self-centred, genuine and sincere passion, positively approached when he meets Juliet. The love between Romeo and Juliet is different from any other in the play, because both share the same view on love. It is so strong that they fought through everything to be together and when they weren’t they felt empty and sad. No one else in the play shows love for anything this deep. The words Romeo and Juliet use when flirting with each other emphasise their love for one another. They use words to do with the body â€Å"lips, hands, palms†, religion â€Å"pilgrims, saints, prayer, devotion and holy† then they put both ideas together, â€Å"holy palmers’ kiss† and â€Å"saints lips†. Romeo is trying to ‘woo’ Juliet with romantic gestures.   

Bias in Womens Sports Essay

The world of sports is strictly dominated by a male hegemonic structure, which is not exactly welcoming to the thought or idea of sharing this love of sports with the opposite sex. The term hegemony is defined as the dominance of one state or group of individuals over the others. Although women have shown a passionate interest for sports, their ability to join this culturally powerful organization as respected professionals has not been completely accomplished. They have been given opportunities to participate in athletic areas that are not the most culturally popular venues within American culture (i. e. golf, gymnastics, swimming, and tennis), but their inception and respected entrance into the American conglomerates of the sports world (i. e. basketball, baseball, and football) have been favorably denied. Men suffocating treasure their superior domination of this cultural superstructure and fear the idea of allowing the opposite sex entrance into their precious stratum. Men’s ultimate trepidation is sports not being only their secret possession. Women have passionately fought to prove themselves as strong enough, knowledgeable enough, and tough enough to survive in the historically constructed system men have carved out: the association of sports and the manner in which it operates. Although their desperate attempts have allowed them to chip through the first few layers of this concrete barrier in which they are faced with, their attempts to delve deeper to ultimately reach the core of its existence has been a disappointing failure. Despite the increase in female athletes participating in sports at a college and professional level, the use of female athletes as product endorsers has been limited. Some female readers like my wife has suggested that there may be an obvious media bias against female athletes and other problems related to how women’s lack of being feminine is portrayed to the public. I feel that women athletes don’t get enough recognition compared to male athletes in the media, and how they don’t appear as profitable product endorsers in magazines or commercials as men. Only five percent of media coverage is devoted to women’s sports (Adams ;amp; Tuggle, 2004). The time media spends to publish these articles of women athletes are significantly less; compared to their male athlete. Many companies choose not to endorse women athletes (Grau, Roselli, and Taylor, 2007). Men’s sports journalists tend to focus on coverage of team sports for men, while women’s sports coverage usually is focused on individual sports. In several articles, the media defends its biases claiming that it is what the public wants, and not all viewers are interested in women’s sports. I feel the number of women playing professional sports has drastically increased over the past decade, but the media’s news coverage of women’s sports has not increased with this movement of women in sports. On ESPN Live news radio, they have mentioned over the last ten years, there has been almost no change in the percentage of national airtime that was designated for women’s sports. Only about one in ten sports articles and TV sports stories include women while eighty-two percent of television sports stories cover men’s sports. Women make the cover of magazines or sports pages less than fifteen times a year (Huffman, Tuggle, ;amp; Rosengard, 2004). According to Adams and Tuggle (2004), in 1995, the length of men’s television sports stories were a little over a minute, where stories covering women’s sports were only about forty seconds. With two professional sports leagues, it was assumed that the coverage of women’s sports would increase, but this is not reality. The coverage of women’s sports on the television show, ESPN’s Sports Center, has actually decreased. In 1995, Sports Center aired about 730 stories on men and only about 30 on women. The ratio was 25:1. In 2002, 780 stories covered men’s sports. Only 16 stories were about women and the ratio was more than 48:1. ESPN did dedicate a weekend to women in sports. During this time, Sports Center only aired three stories that included a woman; the other 60 were about men. Kian, Vincent, and Mondello (2008), found that about seventy-five percent of the New York Times and USA Today’s articles covered men’s basketball. Less than one percent of the articles included both men and women, and twenty-four percent focused on just women’s basketball. Huffman, Tuggle, and Rosengard (2004) analyzed several universities’ coverage of women’s sports. Though forty-one percent of the college athletes are female, seventy-three percent of the sports newspaper articles focused on male college students. Eighty-two percent of television sports stories were dedicated to male athletes. In both newspaper articles and television stories, baseball was covered the most. Men’s basketball was twice as likely as women’s softball to be covered. Less time has been devoted to women’s sports coverage, and when it is, it is usually an individual sport compared to women’s team sports. This is a great example of The Elaboration Likelihood Model. It states that there are two routes through which persuasive messages are processed. My central route would be to provide and give examples of the statistical analysis increase in audiences viewing women’s sports, and it would be a good investment. In these modern times, women are more successful and looking for role models of strength and beauty, like a successful empowering female athlete. Celebrity women athletes can be positive catalysts in selling apparel and have great news worthiness. In my opinion, the media seems to favor women’s individual sports compared to women’s team sports. Out of 16 Sports Center stories that covered women’s sports, 12 were individual sports. Only two were about women’s basketball, though it was almost the end of the WNBA season (Adams ;amp; Tuggle, 2004). In the 1960’s, there were less articles on women’s Olympic sporting events compared to articles published in the 1990’s of the same genre. In 1996, 36 years later, NBC announced that woman’s team sports would be emerging. Even with this big announcement, NBC only aired a few minutes of a women’s soccer team winning the gold medal over China. They did not even have a reporter available at the women’s gold medal winning softball game. Over half of the women’s Olympics sports covered were individual sports. These sports included swimming, diving, and gymnastics. Serena Williams, a tennis player and Marian Jones, a track athlete, are the only females that have been on the cover of ESPN Magazine in the course of five years. Female athletes in individual sports are twice more likely to be in magazines than as those who play on team sports. In several related magazines like Sports Illustrated for Women, female’s models are dressed as athletes rather than real athletes and being pictured posing with props like soccer balls, to add more sex appeal to the magazine. Some journalists say this is because women’s individual sports are considered more feminine than the team sports like basketball and soccer where women look frazzled and sweaty (Grau, Roselli, and Taylor, 2007). Men’s sports are still the ones that bring in the big bucks for ticket sales and popularity. Seventy percent of the NCAA division athletic budget goes to men’s basketball and football. For every dollar that is spent on women’s sports, three dollars of the same budget is spent on men’s. For example, male coaches in almost every instance are paid more than female coaches (Huffman, Tuggle, and Rosengard, 2004). Women athletes are given much fewer multimillion dollar endorsement contracts than a male athlete. In 1998, 200 female athletes from many sports signed various endorsement contracts. The NFL alone had 250 players that signed deals with Nike. Over 400 male athletes from football, basketball, and soccer had endorsement contracts with Reebok that same year (Grau, Roselli, ;amp; Taylor, 2007). If the viewers wanted to see more of women’s sports, then the network would great fully air what the viewing audience would like to see. During an ESPN television show, Town Meeting, a female viewer in the audience asked the Senior Vice President and Manager of editing, why does ESPN not report more on women athlete’s and women’s sports? I can remember David Shaw turning to look at her directly in the face and saying â€Å"ESPN’s job is to report and cover the news and sports that our viewers are interested in†. He leaned forward and reiterated that their goal as a sports broadcast network was to get the highest rating possible, and they must air the sports news the public wants and will watch. Mr. Shaw also mentioned that the network cannot generate interest in women’s sports without solid data of interest, and if that is what they want to see they need to make this interest known. I feel some diehard male sports fans have a sense of Cognitive Dissonance theory. They think that it’s not cool to cheer for women’s sports, it’s not as exciting or fast paced as men’s sports. The theory of cognitive dissonance in social psychology proposes that people have a motivational drive to reduce dissonance by altering existing cognitions or adding new ones to create a consistent belief system. An example of this would be the conflict between wanting to watch women’s sports and knowing that media doesn’t have interest ; a person may try to change their feelings about the odds that they will actually suffer the consequences, or they might add the constant element that sticking to your guns is worth short term benefits. The network does air WNBA games on ESPN and ESPN2, but they seldom air highlights. Christina Brenamen, a commentator for ESPN, said that she feels the network doesn’t care and not to expect any changes anytime soon (Adams ;amp; Tuggle, 2004). Grau, Roselli, and Taylor (2007) found that many companies do not use female athletes as endorsers of their products, because they think that the average female consumer does not identify with female athlete, like males do with men athletes. Some of the companies assume that the average female consumer do not fallow women’s sports. They also suggest that some female athletes are too masculine and therefore do not have sex appeal. Angelini (2008) surveyed many individuals asking views about watching men’s sports vs. women’s sports. He wanted to uncover the stereotypes that individuals have on sports. Most of the participants believed that women’s sports were not as thrilling or exciting to watch as men’s sports. Those who participated in the study were asked to watch several sports clips while their heart rate was analyzed. After the clips were watched they were asked to answer recognition questions about what they had seen. Both male and females scored higher on the recognition questions after viewing female athletes. If the heart rate increased while the participant was watching the sport, it was determined that their arousal was high. If their heart rate was stable or deceased while watching the clip, it was determined that the participant was not aroused. Though most participants said that they were more aroused when watching the men’s sports, their heart rate actually determined that their arousal rate when watching women’s sports was the same as men’s at the beginning of the clip. Toward the end of the clips of men’s sports the arousal rate actually decreased. Angelini (2008) determined that because of the way the media depicts female athletes, the public thinks that men’s sports are going to be more exciting, through with extensive physiological research determined there are really no major differences. Since Universities viewed basketball as too masculine for women to play, and did not want to represent the women athletes of their school. The NCAA did not hold a women’s Division 1 tournament until 1982. In 2004, a women’s Division 1 championship game received the highest national television rating of any women’s or men’s basketball game that had ever been on a cable channel, up to that point. After analyzing two national newspapers and two sports web sites, during the 2006 NCAA and women’s sports tournaments, five main themes seemed to emerge from all of them. One, women’s basketball players were often compared to men. Two, men were never compared to women. Three, the female athletes were often said to be experienced players because most of them had grown up playing against boys. Four, the fathers of the athletes were interviewed more often than the mothers, because of their athletic ability. Finally, gender was mentioned as a main topic compared to the articles than men’s sports. In every article men’s basketball was reported before women’s. I would assume that there would be fewer gender biased remarks from the writers, but this was not the case. Even though writers have a little more time to evaluate on what is being written, unlike live television commentary, biases often still emerged (Kian, Vincent, ;amp; Mondello, 2008). Though the number of women playing sports has drastically increased, the media coverage has not kept up. The women’s sports covered typically are more feminine and individual like swimming, gymnastics, tennis and golf. Those sports activities are viewed as more masculine, like basketball, soccer, and softball, received significantly less media coverage. The media blames society and society blames the media for the differences in gender bias of sports (Grau, Roselli, ;amp; Taylor, 2007). It is unknown if television networks such as ESPN actually do research on what people would like to watch. They do not know that fifty percent of women say they watch television sports regularly and forty-six percent of men say that watch some women’s sports (Adams, ;amp; Tuggle, 2004). The 2004 NCAA Division 1 women’s basketball championships received the highest rating of all college basketball before then. One would think that after this evidence of interest, women’s basketball would receive greater attention. This is a great example of Evaluation Dimension in which our inner systems (beliefs, attitudes, values, etc. all support one another and when these are also supported by external evidence, and then we have a comfortable state of affairs. We also have a very strong need to believe we are being consistent with social norms. Like in the case of following other sports fans that are interested in women’s sports. When there is conflict between behaviors that are consistent with inner systems and behaviors that are consistent with social norms. A fitting Example would be the potential threat of social exclusion often sways us towards the latter, even though it may cause significant inner dissonance. Take for example, if I would approach my fantasy football team and said; â€Å"can we create a team in women’s sports†, that would really start some conflict within my group dynamic? I feel more research needs to be conducted to determine if it is really the public that is biased, or is the media just fallowing the same trend that they always have, and they just choose to report sports in the same standardized way. If we start to challenge the idea that masculinity defines sports at the cultural level. I believe that we will one day be able to develop an ideology that teaches and defends this innovative idea of gender quality throughout the educational process. The ultimate goal being that the foundation of sports promotes and abides by the system of gender equality at the professional level of women’s sports.

What Does it Cost to Attend the University of California-Davis?

Located in the college town of Davis in sunny California, UC Davis is a public research university a part of the University of California system. With four colleges and seven graduate and professional schools, UC Davis is known for its cutting-edge research as well as interdisciplinary approach to learning. If you’re considering applying to or attending UC Davis, read on to learn more about how you might navigate the tuition prices, and get more help in paying for an education at UC Davis. You’ll probably see many different numbers from many sources regarding college costs, but some can be misleading. A good place to start for estimating how much a four-year education at any institution is to go to the institution’s page for tuition and financial aid . However, know that the tuition you see listed on the university’s website—what we call the list price– only a good place to start, for most students will not end up paying that price. The costs of college are highly variable. What you will actually pay is based on many different factors from family income to on-campus employment. This is what we call the net cost , the amount families actually pay out of their pockets. In general, the amount of aid you receive comes down to three parts: We’re going to look at each of these in how they can lower net cost. Tuition for colleges generally rise each year. That being said, for the 2016-2017, the list price for UC Davis was $34,967 for in-state students and $61,649 for out-of-state students. This number includes tuition, room and board, and other student necessities such as a student activities fee. Remember that the families who pay the full list price are those whose annual household income is greater than $175,000. The good news is that many students receive financial aid. For the 2016-2017 school year, the average net cost of attendance with financial aid at UC Davis was $30,198 for in-state students and $56,880 for out-of-state students. When it comes to financial aid awarded, the greater your family’s financial need, the more need-based aid your student will qualify for. In the table below, we have the average net costs for Davis students after receiving financial aid based on family income: Merit aid, different from need-based aid, is awarded based on exceptional performance and potential in regards to academics and/or extracurriculars, and does not factor in a family’s financial need. Merit aid often comes in the form of a scholarship. At Uc Davis, 211.4% of students without financial need receive merit aid . In 2016, the average amount awarded was $395. The average net price for students who didn’t qualify for financial aid was $34,572 for in-state students, and $61,254 for out-of-state students . Estimating your chance of getting into a college is not easy in today’s competitive environment. Thankfully, with our state-of-the-art software and data, we can analyze your academic and extracurricular profile and estimate your chances. Our profile analysis tool can also help you identify the improvement you need to make to enter your dream school. If you think your student might still need additional help financing their college education, this is the time to look at federal student loans. Remember that loans need to be paid back, often with interest. Taking out loans is often for Davis students. In 2016, 68% of students took out loans, with an average amount of $2,801 per student. It’s important to understand past-student outcomes at a school to get a sense of your student’s â€Å"return† on their â€Å"college investment†. At UC Davis, 79% of students graduate within 6 years, and the average salary ten years after graduation is $58,200. Aside from tuition, room and board, health insurance, and student fees, college students will inevitably have other expenses, so it’s useful to look at local area living costs. Of course, if your student plans on living off-campus, this is even more important. Davis, California has an overall cost of living index of 153 ; it’s 1.5 times more expensive to live in Davis than in the rest of the U.S. in general. Housing costs contribute the most to Davis’ relatively high cost of living; with a housing index of 255, Davis’ rentals go for 2.5 times higher than the national average. Students looking to find off-campus housing can expect to pay around $1,353 in rent for a 1-bedroom apartment, and $2,478 for a 3-bedroom . While the UC Davis campus offers many student job opportunities, students looking to find off-campus jobs will be glad to know that the California minimum wage is now $12 per hour. Private, merit-based scholarships are an excellent way to help reduce your net cost further for college. To begin, you can take a look at UC Davis’ page for external scholarships . You can also take a look at our guide to the National Merit Scholarship program , for which anyone who takes the PSAT is considered for qualification. Another way to help finance an education at UC Davis is right here at , with our College Applications Program . In addition to helping students get into their dream schools, we also help them earn more aid to pay for college and make the right financial decisions.

Rules Governing Accounting of Non-current Tangible Assets Under IAS Essay

Rules Governing Accounting of Non-current Tangible Assets Under IAS - Essay Example Besides the cost of asset IAS 16 has concentrated on the issue of cost of bringing the asset to location and the asset made available under present conditions of its operations as per management intentions. The important thing is that by prescribing this rule IAS 16 has put a limit to capitalization of expenses once the asset starts operating as per intention of management. Another important feature is that ‘employee benefits’ accruing during construction or development of assets as per intended use also need to be capitalized. Further, cost of testing any item of the asset for ensuring its functioning is also required to be capitalized. For example testing fee paid to a laboratory for testing the quality of a part of the machinery is capital cost during initial recognition. But when such cost is incurred after the operation of machinery has started, such costs would be treated as revenue expenditure. IAS 16 states that cost of dismantling and removing an asset and resto ration it where it is located should be capitalized. But the important feature of IAS 16 is that cost that is incurred subsequent to initial recognition on replacing or making an addition to such asset or its part should also be capitalized if such costs meet the recognized principles of accrual economic benefits to the entity and reliable measurement of such subsequent cost. This is clearly the departure from earlier practices of capitalization of assets. When an asset is acquired in exchange of other, the rule is to assess the fair value of both asset and if fair values of the asset given up can be assessed reliably, then that would be the cost of the exchanged asset. But if the fair value of the new asset acquired is more evident, then fair value of such asset would be used as the cost of the asset. However, there is another possibility of the use of carrying value of asset given up as the

Contemporary Developments in the EC Law Essay Example | Topics and Well Written Essays - 2750 words

Contemporary Developments in the EC Law - Essay Example Council Regulation Number 1612/68 of the EEC defines a migrant worker as a national of any member state of the EU who seeks employment in any other member state and it enjoins upon the member states to treat the migrant worker on par with the indigenous workers. Article 12 of the EC Treaty enjoins upon the member countries to accord facilities to the children of workers from other member countries, who are or were employed in that member country, similar to those that it does to the children of its own citizens3. Article 18(1) of the EC Treaty, bestows on every citizen of the union the right to free movement and residence within the territory of the Member States. EC Directive 2004/38 amends Regulation 1612/68 of the EEC to the effect that a citizen of the Union can reside in another Member State for three months with a valid passport or identity card. For subsequent periods, extending to five years thereafter, such residence is conditional, in as much as that such a person must be either a worker, self-employed or "have sufficient resources so as not to become a burden on the social security system of the host State and have comprehensive sickness insurance"4. Ms Jones after graduation from Sunderland University in 2005 with a Business Degree went on a European tour. While in Spain she applied for a post as an English teacher at a Financial Securities Academy. However, at the interview she discovered that she was ineligible for this post as she was not a Spanish national and since such posts had been classified as belonging to the "public service", and for which only Spanish nationals could be appointed, resulting in the ineligibility of non-nationals. Ms Jones was denied employment on the grounds that she was not Spanish National. However, Article 5 of Title I of the EU Regulation 1612/68, which has been discussed above, deals with the free circulation of workers within the European Union, directs the State employment offices have to render help to an EU foreigner seeking employment in another EU country, which is akin to that rendered to their own nationals. Article 1 of the EU Regulation 1612/68, states that any national of a Member State, shall, irrespective of her place of residence, have the right to take up an activity as an employed person, and to pursue such activity, within the territory of another Member State in accordance with the provisions laid down by law, regulation or administrative action governing the employment of nationals of that State. She shall, in particular, have the right to take up available employment in the territory of another Member State with the same priority as nationals of that State5. According to Article 12, a Spanish Work or Residence permit, is not only available to any EU worker but also to any family member of the EU worker. All of these rights regarding the free circulation of workers within the European Union are set out in EU Regulation. Title 1 of these regulations specifically prohibits any member country from applying rules or imposing unusual conditions in respect of employment of EU foreigners. It is also prohibited to force foreigners to register with employment offices as a precondition for employment. Further, it is proscribed to raise obstacles in the hiring of EU foreign nationals who do not officially reside in that country. In practice this implies that an EU citizen

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Answer these questions - Essay Example Indeed he not only wanted to impose Nazism on Germans, but he wanted to impose on all Europeans and perhaps even on everyone in the world. He believed everything he did was right and everyone should agree with him. 27. Hitler believed that all Jews were different than Germans. He wanted Germans to fit into the Aryan ideal and to be blue-eyed and blonde-haired. He desired a people that did not look at all Semitic. To Hitler, Jews could be detected by their appearance. This was another example of his anti-Semitism which led to the Holocaust. 3. Hitler definitely thought that young people should indoctrinated early on. He wanted all German students to worship him and agree with everything he said. That is why he created the Hitler Youth. Truth was whatever he said it was. 12. Hitler was a war leader because he chose to start wars everywhere in Europe. He was deluded if he thought that other people were starting wars against him. His surprise attack on the Soviet Union is a good example of this. Every time he made an agreement with someone he broke it. He was a war leader by choice. 21. In the warped way that he looked at the world, Hitler probably believed he was humane. He thought it was nice to kill people because he was doing it for a larger reason—the betterment of humankind. He had probably convinced himself that he was humane and good while at the same time committing evil acts. He was certainly

Falsfication of medical records Assignment Example | Topics and Well Written Essays - 750 words

Falsfication of medical records - Assignment Example Falsifying patient’s medical records is a case of negligence and it can result in the deterioration of a patient’s health and in some cases the death of the patients. Lundstrom further explains that there are cases where costly medical law suits drive hospital administrators to recreate medical records. This serves as a desperate measure to cover up their neglectful care (Lundstrom, 2013). Lundstrom looks at the various patterns in falsification of medical records. Dressenhaul and Peabody (2002) explain that recording false positives leads to overestimation of the quality care in critical areas such as physical examination. According to Lundstrom, medical practitioners falsify medical records to cover up neglect or unprofessional acts that result in the death of a patient. In such cases, the nursing home administrators rewrite the records to minimize liability. There are other cases where staff members fill in blank patient charts without confirming whether treatment ha s taken place and there has been accuracy of the information. The pharmacy department also experiences cases of medical record falsification when medications are cleared off from the pharmacy, but later discrepancies in the pharmacy records are reported or boxes of medication are found unopened. There are other cases where nurses falsify consent forms to enable them to sedate patients. In some cases, nursing home staff alter dates in medical records to cover up acts of negligence during an audit (Lundstrom, 2013). Pozgar (2009) points out that falsifying of medical records is a professional misconduct. Patients expect from health practitioners to keep accurate and adequate records that show their medical history. Accurate and adequate medical records facilitate effective communication of health requirements between practitioners and patients. Inaccurate documentation jeopardizes a patient’s health. Falsified documents shatter a practitioner’s credibility (Pozgar, 2009) . According to Pozgar, a health practitioner has a duty towards the patient to maintain the accuracy, truth, integrity and reliability of the medical records. Pozgar explains that inaccurate, misleading or false information in a medical record prejudices the patients care. When a practitioner falsifies a patient’s medical information for his own interests, it is regarded as a gross medical malpractice for this endangers the patients’ health. Daniels (2004) explains that falsifying of medical records constitutes unprofessional conduct. Falsifying medical records is a breach of duty. Such negligence by medical practitioners goes against professional ethics. Medical record falsification can cost a health practitioner their license to practice (Daniels, 2004). Falsification of medical documents goes against certain principles in nursing practice. Whitehead, Weiss, and Tappen describe the principle of nonmaleficence, which requires that a nurse should not do any harm either deliberately or unintentionally to a patient. The principle requires that nurses protect patients, especially those who are unable to protect themselves, like mentally challenged patients or physically challenges patients. Falsifying medical documents endangers a patient’s health (Whitehead, Weiss and Tappen, 2007). Medical records falsification breaches the principle of fidelity that requires nurses to fulfil their responsibilities as nursing practices state. Nurses

Financial Crisis in the UK Banking Sector Essay

Financial Crisis in the UK Banking Sector - Essay Example Likewise, those that did not have access to important natural resources have been able to access the resource base and exploit the same to their advantage. The characteristic advancement of information and technological systems has made it possible for populations, firms and corporations to exploit emergent opportunities with ease. Notably, a significant percentage of the populations are taking practical steps to align their ways of life to the societal expectations with respect to improved standards of living. Apart from benefiting the society positively, inherent globalization has also had adverse impacts on the wellbeing of the society. Perhaps the sector that has been the most affected by the relative changes pertains to the economic segment. At this point, it cannot be disputed that the world economy directly affects the quality of life of the populations. This has further been occasioned by the characteristic integration that has tied local and regional economy to the wider glo bal economy. Thus operations at the global level have direct implications on the performance and general wellbeing of local, national and regional economy. This integration has made the financial sector susceptible to the negative impacts that stem from economic shocks. Coupled with the fragile nature of financial systems, the current economic instability has undermined the ability of the respective systems to cushion themselves against relative negative impacts. One of the economic problems that has posed great challenges to the UK government as well as the global financial system pertains to the 2008-2009 financial crisis. Seemingly, relevant authorities are taking practical steps to reinstate financial stability and enhance optimal performance. This is elemental in enabling them to attain a desirable state with respect to sustainable growth and development. Fundamentally, relative strategies are in line with their economic goals and objectives. Besides the challenges that are rel ated to economic integration, the UK financial sector has been compounded by governance problems. At this point, it cannot be disputed that governance problems contributed a great deal to the financial crisis that the country experienced at this particular time. In a society that is characterized by uncertainty, effective governance is important in enhancing optimal performance. Governance in this regard is all encompassing and ranges from the expertise and policies to the rules and regulations that are established to guide behavior and decision making. These need to be based on informed thought and to bear desirable outcomes; they need to be consistent with the economic changes being experienced in the market. Indeed, the fact that good governance is essential and contributes significantly to the integrity as well as stability of financial systems cannot be overstated. With this asset, corporations and organization can be able to maneuver their way through the volatile economic env ironment. It is against this background that this paper provides an in depth analysis of how poor governance in the UK financial sector contributed to the financial crisis that it experienced. To enhance coherence, the paper begins by explaining the notion and importance of good governance in the current financial corporate sector. Understanding Good Governance In his research, Hart (1995, p. 54) contends

Lessons from the Cold War Essay Example | Topics and Well Written Essays - 750 words

Lessons from the Cold War - Essay Example The United States is widely considered to be the â€Å"winner† of the Cold War for several reasons. Firstly, there is simple geography: if you look at a map, the United States exists now exactly as it did during the years of the Cold War (in fact, it actually grew somewhat during the conflict, adding Hawaii and Alaska as states as opposed to protectorates or territories), whereas the Soviet Union dissolved as a political entity, becoming Russia, Turkmenistan, Uzbekistan, Kazakhstan, the Baltic States, Belarus, Ukraine, and several other smaller states between the Black and Caspian Seas (Brooks 450). More importantly, however, was the fact that the political ideology of Russia shifted – the one-party, the communist government ended, the economy was capitalized, state-run corporations became privately owned and so on. So, the state of the Soviet Union and the form of government and economy that it represented both ended, while the United States remained the lone Superpowe r. There are various explanations of how the Cold War was â€Å"won† or â€Å"lost† without recourse to a nuclear war. One of the major theories is that the United State’s more efficient and productive economy simply outpace the Soviet one, leading the Soviet government to either fall behind militarily or socially – both of which would have led to the downfall (Brooks 449). The classic explanation can be summarized as ‘the United States could make tanks and cars, the Soviet Union, one or the other.’ Any explanation that fails to take into account Soviet leadership, however, is somewhat naà ¯ve. The fact is that Gorbachev, the leader of the Soviet Union, genuinely sought openness and freedom for his people, and allowed them the freedom to choose what type of economy they wanted, which allowed the Soviet Union to fall without violent backlashes towards either the United States or its own populace (Brooks 454).

Management accounting Essay Example | Topics and Well Written Essays - 1250 words

Management accounting - Essay Example Some managers and staff workers in the organisation are being evaluated using the income statement,balance sheet and the statement of cash flows as benchmarks.Some managers use the balance sheet to determine if all the customers have already paid their dues on timeSome managers would stop sending goods on account to customers who have large over due receivables In addition, some companies use different tools or criteria to determine if the managers have been doing profitably or beautifully. The following paragraphs will explain in detail this introductory.First, the management team has a problem with its working capital. working capital is arrived at by subtracting total current assets from total current liabilities. The total current assets include cash on hand, cash in bank and petty cash funds. The current assets also includes accounts receivable as well as notes receivable. The current assets also includes inventory end generated from current year purchases and beginning of the y ear inventory count. One problem in this situation is that the management team has a lot of write -offs. This simply means that the company has not been able to collect the receivables from the clients for one reason or another. Write offs are done only if the possibility of collecting the receivables is impossible because of the customers' bankruptcy, transfer to another location so that collection of the account owed by the customer cannot be pursued. The write offs result to a reduction in the accounts receivable. a reduction in the accounts receivable results to a reduction in the current ratio. A reduction in the current ratio indicates that the company is not doing well in terms of the balance sheet presentation for the current year. Likewise, the collection of only fifty percent of the amount collectible shows that the management team has lost fifty percent of its receivables amount. There are two ways to treat this lack of payment by the customer. One way is to record the fifty percent payment as a debit to cash and a credit to accounts receivable. The management then retains the remaining fifty percent uncollected accounts receivable from the disgruntled employee in the current assets section of the balance sheet. This would not result to an increase or decrease in the current assets portion of the balance sheet for the year (Fazzari 1993, 328). This would be a good accounting procedure to follow because it is what is the normal process as stated in the international accounting standards. On the other hand, a conservative approach to this situation would be to record the fifty percent payment from the unsatisfied customers as full payment of the original amount contracted. This would give us a reduction in the accounts receivable. Consequently, this would result to a decrease in the working capital of the management team. This will not give a good impression of the management team. The head of the management team was completely surprised when he or she received the fifty -percent payment. The surprise was due to the management team leader's expectation that the management team would receive the entire one hundred percent of the job done. The management team leader had to console himself or herself that the lack of payment was because the customer was dissatisfied with their job. The customer explained that the management team was not paid the entire management consultancy fee because the management team did not reach its pre -agreed targets. The profit center manager who is also the head of the management team feels that his department should not be dependent another department to save it from financial distress. The profit center manager is tasks to produce his or her department's income statement and balance sheet. Here, the profit center (may also be called a department must not ask for dole -outs or free rides from the other departments within the

Persuasive Essay Essay Example for Free

Persuasive Essay Essay When you rummage through your refrigerator what do you seek? A bag of chips, a fruity flavored yogurt, some buttery popcorn? Whatever it is, it all fills you up. Whether it is with a junky treat or something partially healthy. Whatever you choose, it impacts you. It affects the way you sleep, the energy you have, and your blood sugar. So the little discussion of picking a chocolate bar and an apple impacts you greatly in the long run. This is why you should start making healthier choices now when you are still growing. I must admit it is easier for me to choose eating junk food. It may seem yummy and delicious, but its not. Almost every single piece of junk food is either full with fat or artificial flavorings. Did you know that the McDonalds fries contain 610 calories and 29 grams of fat? If you ate a Burger King, meal that contains 1,800 calories, it would take you nearly 6 hours of intense bicycle riding to burn away the calories. The average American kid eats at McDonalds at least one time each month. Teenagers drink around the average of 760 cans of soda per year. And not only does junk food just add fat and other unwanted substances to your body, it also harms you. Obesity is the second cause of death in America. The consumption of sodas has increased the risk of diabetes. Junk food is the major cause of most heart diseases or failures. Junk food causes high cholesterol, which causes long-term damage to your liver. Wow, pretty scary right? Ways to decrease junk food consumption would be the next time when you are rummaging through your refrigerator stop and choose the vegetable section. Pick a banana, or apple. Or leave junk food off-limits until special days or weekends. There are multiple ways, but the biggest way is the next time something sugary is about to go into your mouth, stop and think about all the negative sides. Because not only does junk food affect your weight, it affects your future.

Production Strategy Essay Example for Free

Production Strategy Essay The total number of time spent for machining and welding during the manufacture of one BodyPlus100 (includes the machining and welding hours mentioned in Frame Unit, Press Station and Pec-dec Station) are eight (8) hours. The total number of hours spent for Painting and finishing in the entire process (includes the machining and welding hours mentioned in Frame Unit, Press Station, and Pec-dec Station) is five (5) hours. The total number of hours spent for Assembling, testing and packaging for the manufacture of one BodyPlus100 machine is two (2) hours. BodyPlus200 The total number of time spent on machining and welding in the entire process (includes the machining and welding hours mentioned in Frame Unit, Press Station, Pec-dec Station and Leg Press Station) during the manufacture of one BodyPlus200 machine is twelve (12) hours. The total number of hours spent for Painting and finishing in the entire process (includes the machining and welding hours mentioned in Frame Unit, Press Station, Pec-dec Station and Leg Press Station) is ten (10) hours. The total number of hours spent for Assembling, testing and packaging for the manufacture of one BodyPlus100 machine is two (2) hours. Calculations: The total number of working hours assigned for machining and welding processes is 600 hours. The total number of working hours assigned for painting and finishing processes is 440 hours. The total number of working hours assigned for Assembling, Testing and Packaging is 140 hours. To find out the total number of machines that can be made can be found out in the following math. As either of the machines (BodyPlus100 and BodyPlus200) requires two (2) hours of assembling, testing and packaging time. Total number of machines to be produced:    Now let the total number of BodyPlus100 machines manufactures be denoted by the variable ‘X’ and the total number of BodyPlus200 machines manufactured be denoted by the variable ‘Y’. Therefore, the total time required for Assembling, testing and Packaging is 2 hours. That implies,   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   2X + 2Y =140 Then X+Y=70. There we get the total number of possible machines that can be made are seventy in number. As the recommended number of BodyPlus200 machines that have to be produced must be at least 25% of the total number of machines produced. Then ‘Y’ takes a value of 25% of the total number of possible machines i.e. seventy (70). Therefore, 17 fills in the best value of at least 25% of total number of machines produced when the count of total number of machines produced are sixty five (65). Taking the number of BodyPlus100 machines and BodyPlus200 machines manufactured to be 49 and 16 in numbers respectively. Then the calculation follows as: Time required for machining and welding: 1) BodyPlus100: In the Frame unit, it takes four (4) hours of machining and welding time. In the Press Station, it takes two (2) hours of machining and welding time. In the Pec-dec Station, it takes two (2) hours of machining and welding time. The total number of machining and welding time taken in the manufacture of one BodyPlus100 machine is eight (8) hours. Therefore, the total time taken for machining and welding processes during the manufacture of 49 BodyPlus100 is 49*8 = 392 hours. 2) BodyPlus200: In the Frame unit, it takes five (5) hours of machining and welding time. In the Press Station, it takes three (3) hours of machining and welding time. In the Pec-dec Station, it takes two (2) hours of machining and welding time. In the Leg Press Station, it takes two (2) hours of machining and welding time. The total number of machining and welding time taken in the manufacture of one BodyPlus200 machine is twelve (12) hours. Therefore, the total time taken for machining and welding processes during the manufacture of 17 BodyPlus200 is 17*12 = 204 hours. Therefore, the total number of hours spent for the entire manufacture processes is equal to 392 + 204 = 596 hours Hence, we lost 4 hours of unused machining and welding time. Time required for Painting and finishing: 1) BodyPlus100: In the Frame unit, it takes two (2) hours of painting and finishing time. In the Press Station, it takes one (1) hours of painting and finishing time. In the Pec-dec Station, it takes two (2) hours of painting and finishing time. The total number of painting and finishing time taken in the manufacture of one BodyPlus100 machine is five (5) hours. Therefore, the total time taken for painting and finishing processes during the manufacture of 49 BodyPlus100 is 49*5 = 245 hours. 2) BodyPlus200: In the Frame unit, it takes four (4) hours of painting and finishing time. In the Press Station, it takes two (2) hours of painting and finishing time. In the Pec-dec Station, it takes two (2) hours of painting and finishing time. In the Leg Press Station, it takes two (2) hours of painting and finishing time. The total number of painting and finishing time taken in the manufacture of one BodyPlus200 machine is ten (10) hours. Therefore, the total time taken for machining and welding processes during the manufacture of 17 BodyPlus200 is 17*10 = 170 hours. Therefore, the total number of hours spent for the entire manufacture processes is equal to 245 + 170 = 415 hours. Where the total number hours assigned for painting and finishing is 450 hours. Hence, we lost 35 hours of unused painting and finishing time. Time required for Assembling, Testing and Packaging: 1) BodyPlus100: The manufacturing of one BodyPlus100 machine takes two (2) hours of assembling, testing and packaging time. Therefore, the total number of hours spent in assembling, testing and packaging during the manufacture of 49 machines is 49*2= 98hours. 1) BodyPlus200: The manufacturing of one BodyPlus200 machine takes two (2) hours of assembling, testing and packaging time. Therefore, the total number of hours spent in assembling, testing and packaging during the manufacture of 17 machines is 17*2= 34hours. In total, the total number of hours spent during the entire process is 98 + 34 = 132 hours. As the assigned number of assembling, testing and packaging time is 140 hours. So, eight (8) hours of the assembling, testing and packaging time is unused. Total Cost for producing the machines: 1) BodyPlus100: The BodyPlus100 machine consists of four (4) units. Frame unit: Where the raw material cost for each BodyPlus100 unit is $450 in this Frame Unit. Press Station: Here the raw material costs for each BodyPlus100 unit is $300 in this Press Station. Pec-dec Station: Here the raw material cost for each BodyPlus100 unit is $250 in this Pec-dec Station. Packaging: Here the estimated cost for each BodyPlus100 unit is $50 for packaging. 2) BodyPlus200: The BodyPlus200 machine consists of five (5) units. a) Frame unit: Where the raw material cost for each BodyPlus200 unit is $650 in   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  this Frame Unit. b) Press Station: Here the raw material costs for each BodyPlus200 unit is $400 in   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   this Press Station. c)   Pec-dec Station: Here the raw material cost for each BodyPlus200 unit is $250 in   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   this Pec-dec Station. Leg Press Station: Here the raw material cost for each BodyPlus100 unit is $200   Ã‚  Ã‚  Ã‚  Ã‚   in this Leg Press Station. Packaging: Here the estimated cost for each BodyPlus200 unit is $75 for   Ã‚  Ã‚  Ã‚  Ã‚   packaging. Labor Costs during the manufacture Process: Machining and welding: Given that the labor costs are $20 per hour for machining and welding time.    Now the total number of hours spent for machining and welding in manufacturing one BodyPlus100 and one BodyPlus200 are eight (8) and twelve (12) respectively.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Therefore, the labor costs for machining and welding estimated for manufacturing one BodyPlus100 to be 8*20 = $160.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   And, the labor costs for machining and welding estimated for manufacturing one BodyPlus200 to be 12*20 = $240. Painting and finishing: Given that the labor costs are $15 per hour for painting and finishing time. Now the total number of hours spent for painting and finishing in manufacturing one BodyPlus100 and one BodyPlus200 are five (5) and ten (10) respectively.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Therefore, the labor costs for painting and finishing estimated for manufacturing one BodyPlus100 to be 5*15 = $75.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   And, the labor costs for painting and finishing estimated for manufacturing one BodyPlus200 to be 10*15 = $150. Assembly, Testing and Packaging: Given that the labor costs are $12 per hour for assembly, testing, and packaging time. Now the total number of hours spent for assembling, testing and packaging in manufacturing one BodyPlus100 and one BodyPlus200 are two hours each.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Therefore, the labor costs for painting and finishing estimated for manufacturing one BodyPlus100 to be 2*12 = $24.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   And, the labor costs for painting and finishing estimated for manufacturing one BodyPlus200 to be 2*12 = $24. Hence the total labor costs in manufacturing 49 BodyPlus100 are 49*($160+$75+$24) = 49*($259)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   = $12691   Also, the total labor costs in manufacturing 17 BodyPlus200   are 17*($240+$150+$24) =17*($419)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   = $7123 Gross expenditure in the production of one unit of:    BodyPlus100: The total cost made in the manufacture of one BodyPlus100 machine (includes raw costs and labor costs)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   $450+$110+$300+$55+$250+$70+$50+$24 = $1309. BodyPlus200: The total cost made in the manufacture of one BodyPlus200   Ã‚  Ã‚  Ã‚  Ã‚   machine (includes raw costs and labor costs)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   $650+$160+$400+$75+$250+$70+$200+$70+$75+$24 = $1974. Profit Calculations: The retail price of one BodyPlus100 machine is $2400. The retail price of one BodyPlus200 machine is $3500. An authorized dealer will purchase at only 70% of the suggested retail price. Hence, a sale of one BodyPlus100 will produce 70% of $2400 = $1680 And a sale of one BodyPlus200 will produce 70% of $3500 = $2450. Admittedly, the net profit that is made in the sale of one BodyPlus100 machine is ($1680 $1309) = $371. Whereas the net profit that is made in the sale of one BodyPlus200 machine is ($2450 $1974) = $476. Here the net profit made on manufacturing one BodyPlus200 machine ($476) is larger in number than the profit that is made on manufacturing one BodyPlus100 machine ($371). But if we calculate the net profit that is made per hour work will entirely change the opinion onto BodyPlus100 machine. As, we get a profit of $476 after working 24 hours in manufacturing BodyPlus200 machine. This means the net profit made per hour on manufacturing one BodyPlus200 is only   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   $476/24 = $19.83 Whereas, the net profit made on manufacturing one BodyPlus100 machine is $371 after working for 15 hours. Therefore, profit made per hour is   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   $371/15 = $24.73 Conclusion: So, referring to the above profit math increasing the production percent (i.e. 75%) in the total production will gradually increase the profits of the company. Solutions Plus      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Table2.1       No. of gallons required Freight Charges No of gallons supplied from Total charges for shipping       Cincinnati Oakland Cincinnati Oakland Cincinnati Oakland Santa Ana 22,418 0.22 22,418 4,931.96 El Paso 6,800 0.84 0.74 6,800 5,032 Pendleton 80,290 0.83 0.49 30,290 50,000 25,140.7 24,500 Houston 100,477 0.45 50,447 50,000 22,701.15 Kansas city 241,570 0.36 191,570 50,000 68,965.2 Los Angeles 64,761 0.22 14,761 50,000 11,000 Glendale 33,689 0.22 33,689 7,411.58 Jacksonville 68,486 0.34 18,486 50,000 6,285.24 Little Rock 148,586 0.34 98,586 50,000 33,519.24 Bridgeport 111,475 0.34 51,475 50,000 17,501.5 Sacramento 112,000 0.15 62,000 50,000 7,500 Total 990,522 Grand Total 517,615 462,907 Here we can see that the total numbers of gallons that are delivered from Cincinnati are more than 500,000 gallons. So we are short of 17,615 gallons of the locomotives cleaning agent that has to be delivered from Cincinnati. To satisfy the requirement of the majority of the dealers in the remaining locations, and considering the profits, all the 17,615 gallons of the cleaning agent is reduced from the Pendleton deal.   Ã‚                                         Table2.2 No. of gallons required Production cost for the total number of gallons Total charges for shipping Total expenditure from    Cincinnati ($1.20/gallon) Oakland ($1.65/gallon) Cincinnati Oakland Cincinnati Oakland Santa Ana 22,418 $36,989.70 $4,931.96 $41,921.66 El Paso 6,800 $11,220.00 $5,032.00 $16,252.00 Pendleton 62,675 $15,210.00 $82,500.00 $10,520.25 $24,500.00 $25,730.25 $107,000.00 Houston 100,477 $60,536.40 $82,500.00 $22,701.15 $83,237.55 $82,500.00 Kansas city 241,570 $229,884.00 $82,500.00 $68,965.20 $298,849.20 $82,500.00 Los Angeles 64,761 $17,713.20 $82,500.00 $11,000.00 $17,713.20 $93,500.00 Glendale 33,689 $55,586.85 $7,411.58 $62,998.43 Jacksonville 68,486 $22,183.20 $82,500.00 $6,285.24 $28,468.44 $82,500.00 Little Rock 148,586 $118,303.20 $82,500.00 $33,519.24 $151,822.44 $82,500.00 Bridgeport 111,475 $61,770.00 $82,500.00 $17,501.50 $79,271.50 $82,500.00 Sacramento 112,000 $74,400.00 $82,500.00 $7,500.00 $74,400.00 $90,000.00    After reducing the supply to the Pendleton concerning larger profits, the total no. of gallons of cleaning agent sent to the Pendleton will be 17,615 less than that stated in Table-2.1   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Table-2.3    No. of gallons required No. of gallons supplied Total Expenditure (in $) Total Income from each location (15% more than the actual cost) Santa Ana 22,418 22,418 $41,921.66 $48,209.91 El Paso 6,800 6,800 $16,252.00 $18,689.80 Pendleton*** 80,290 62,675 $132,730.25 $152,639.79 Houston 100,477 100,477 $165,737.55 $190,598.18 Kansas city 241,570 241,570 $381,349.20 $438,551.58 Los Angeles 64,761 64,761 $111,213.20 $127,895.18 Glendale 33,689 33,689 $62,998.43 $72,448.20 Jacksonville 68,486 68,486 $110,968.44 $127,613.71 Little Rock 148,586 148,586 $234,322.44 $269,470.81 Bridgeport 111,475 111,475 $161,771.50 $186,037.23 Sacramento 112,000 112,000 $164,400.00 $189,060.00 TOTAL 990,552 972,937 $1,583,464.67 $1,821,214.39 *** indicates the locations that are short of the locomotive cleaning agent than they require by any amount. Conclusion: Hence the net profit made for one year is $237,749.72 and if the bid is made for one year the total amount has to be $1,821,214.39 but given that the bid has to be made for two years. Then the bid price would be $3,642,428.78 And the profit expected in two years (taken the oil prices are fixed) is $475,499.44 If the oil price is hiked by 15% then also profit is expected for the Solution Plus Company as there are few locations which are supplied with the cleaning agents without any shipping charges. So only a marginal amount of profit can be made in two years even after placing the bid.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   If the price of oil is slashed by any margin, then there will be more profits for the   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Company after one year.

Impact of interest rate changes on bank profitability

Impact of interest rate changes on bank profitability Over the years, banking system in Pakistan shown enormous growth and potential. The performance and stability indicators showed significant improvement in the profitability of banking system. But now a days banking sector going under pressure. Such as liquidity crunch and solvency problem have significant impact on the performance of banking sector and economy. The financial institution could have managed the situation without any trouble if they have sufficient amount of liquidity available to fulfill their obligation. Since they are operating in very tight market conditions. So, they are forces to pay attractive rates to depositors to attract liquidity. Although the State Bank of Pakistan reduced the Cash Reserve Requirement (CRR) and Statutory Liquidity Requirement (SLR) on demand and Time Liabilities to ease the liquidity in the market. The governments instead of developing their own recourses empower banks to generate money and then borrow from banks. The huge amount of borrowin g from banks by the government its disturbing the economy. The government not only curtails its borrowing from banks but also put some sort of check on power of money. All these factors have combined to set a stage where lending rates are high and having great amount of burden on banks financials. The amount of non performing loans increased at rapid speed despite of heavy amount of provision created by the bank in recent years. The increasing asset quality concerns would force the banks to book heavy provisions for non performing loans (NPLs). The stability of the banking system is conditional upon the stability of overall economy. A stable macroeconomic environment contributes to effective and efficient growth of saving and investment decision. Appropriate macroeconomic measures should support the functioning of the banking system more specifically in the areas of financial stabilization, transparent fiscal policy and monetary policy. The major contributor role of effective and efficient growth in the economy is played by the State Bank of Pakistan and provides guideline to the financial institution to play their role in the development by mobilizing the resources of the economy and facilitating the investors. The success of a bank also depends on the ability to forecast and avoid risk, to cover the losses brought about by the arisen risk. Profit is the important requirement of a competitive banking institution and the cheapest source of funds. It is essential to see it not simply as a result, but also a necessity for successful banking in a growing competition on financial market. These important facts together are the reason for this to focus on the current topical issue of banks profitability. We will highlight problems which are influencing on banks effectiveness and efficiency to manage their portfolio such as assets and liabilities in aiming at to achieve profitability and identify the areas where it might have possible room for raising the bank profitability. Banks assets are grouped into two categories earning assets and non earning assets. Earning assets means those on which banks earns interest income and non earning assets means those which used for the purpose reserve requirem ent, fixed assets to run day to day operational activities. In this study we have focus on earning assets. This included Placement and lending to financial institution, investment in securities and loan advances. These assets are the major source of income for bank. Therefore, it is apparent that average income generation ability of these assets has a decisive influence on the banks profitability. As financial intermediary, banks play a vital role in the operation of most economic development. The efficiency of financial intermediation can also affect the economic growth. Banks are different from other firms in that they provide financial services, the reward to which is an interest rate, and the most of the funding are financed by the deposits or borrowing, the expense of which is also an interest rate. Interest margin, the difference between what a bank has earns on its earning assets and what is paid to depositor. It has been on upward trend during the last decade. An increase in the spread would affect the depositor or the borrower or both stand loose at same time. The lack of alternate avenues of financial intermediation aggravates the adverse impact of spread. For example, if the State Bank of Pakistan based on the monetary policy change the interest rate. Then the change in the interest rate influences the cost of capital that in turn affects the level of consumption an d investment decision. If the increase in the spread is due to decrease the rate to depositors then this discourage the saving, and alternatively if due to increase the rate it would have adverse impact on investment. Therefore, these changes in the interest rate have important implication on the economy. Banks are more sensitive to interest rate changes than most of the other institutions. The effect of interest rate changes on banks profitability has been an important issue for banking system. It has been argued that bank exposure to interest rate risk perhaps the most important issue in participating the saving and investment crises. 1.2: Problem Statement The impacts of interest rate changes have a significant impact on the bank profitability. When interest rate changes it would result in increase or decrease in the interest income of the bank and also have adverse affect on depositors saving and borrower investment decision. 1.3: Objective This research aims to study the impact of interest rate changes on banks profitability based on the following variables directly affecting the banks profitability Interest rate Balances with other banks Deposits accounts Lending to Financial Institution Investments Loan Advances 1.4: Research Scope and Limitation The scope of this research is to find out the impact of interest rate changes on banks profitability. There are few limitation involved in the study. The sample selection consists of five major banks. Which covers the 57% market share of the Pakistan banking industry. The basis for calculation of income is KIBOR rate. The banking system starts using as benchmark as KIBOR rate from 2002 onward. Therefore, our study period is 2003 2008. 1.6 Chapter Summary The banking sector shown enormous potential in previous years. Banking sector achieved high profitability and economy was stable. But from 2008 onward banking sector going through a financial crises such as liquidity and solvency problem. To control the uncertain condition of the country. The central bank reduces the Cash Reserve Requirement and Statutory Liquidity Requirement. So, banks have more liquidity to fulfill their obligations. On the other hand Central Bank increases the discount rate to control the money supply in the market. Which result in higher interest rates. Due to the increase in interest rate and financial crises borrowers default ratio increase and financial institution suffer large amount of losses during the period. This increasing amount of asset quality concerns would force the bank to book heavy provision for non performing loans (NPLs). The stability of the banking system is dependant on the economy. A stable macroeconomic condition will contribute to effect ive and efficient growth of saving and investment. Banks play as role of financial intermediary in the development of economy. If the central bank made any change in the monetary policy it will affect the performance of financial institution. Then the changes in the interest rate will affect the saving and investment. If the spread increases due to decrease in the rate to depositor then it will discourage the depositor and alternatively if due to increase in the rate to borrower then it will affect the investment decision. Therefore, banks are more sensitive to interest rate changes then the other institution. The effect of interest rate has been todays most important issue for banking sector. Chapter 2: Literature Review The study of Flannery, (1981) showed that large banking organizations (1978 assets greater than $2 billion) are well hedged against interest rate fluctuations. The large banks made necessary adjustment to avoid interest rate fluctuation by revising the repayment schedule rate as per the agreement with customer to minimize their interest rate risk. The some of the borrower pay quarterly, half yearly and annual payments. So, as per the agreement schedule bank revise the rates which minimize the risk of bank. When market rate change, the large banking organization made necessary adjustments to avoid interest rate volatility in revenue and cost. The mostly organization have mis matched balance sheet such as they borrow from customer and financial institution at shorter period or maturity and give lending to customer and financial institution at longer period. It would create mis match between balance sheet. Therefore, banks are exposing to interest rate risk and liquidity risk. To avoid the liquidity risk the banks develop relationship with financial institution to overcome their liquidity problem on immediate basis and for interest rate they minimize the risk by revising the interest rate of the contract as per the agreement. The finding of this article suggests that most bank posses a sufficient range of assets and liabilities choices to avoid the risk. This study employs annual data from the federal Reports of Income and Condition on individual insured banks in continuous existence from 1960 through 1978. Twelve banks were chosen at random from the national population in each of five asset size categories (based on year-end 1978 assets): less than $25 million, $25- 25-49.9 million, $50-99.9 million, $100-299.9 million, and greater than $300 million. Holding company subsidiary banks were excluded from the first four size million, $100-299.9 million, and greater than $300 million. Holding company subsidiary banks were excluded from the first four size groups; 3 banks above $300 million were included regardless of their subsidiary status, since large independent banks may not be representative of the population Flannery, (1983). In this study data collected from the federal report of income and condition f rom 1960 to 1978. Population of Twelve banks randomly chosen for analysis and break into 5 different assets size categories on the basis of 1978 assets: less than $25 million, greater than $25 and less than $49.9 million, greater than $50 and less than $99.9 million, greater than $100 and less than $299.9 million and greater than $300 millions. In this study holding companys subsidiary excluded from first four groups and greater than $300 million includes the subsidiary banks of holding company and regression techniques had been used in the analysis. The result of the study showed that commercial banks groups are substantial exposed to interest rate risk and individual bank choose alternatives to avoid such risk. Bank possess sufficient amount of funds available in the form of assets and liabilities to minimize those risk and try to get productive results. The study of Barajas et.al (1999) showed that a key variable in the financial system is the spread between lending and deposit interest rates. When it is too large, it is generally regarded as a considerable impediment to the expansion and development of financial intermediation, as it discourages potential savers with low returns on deposits and limits financing for potential borrowers, thus reducing feasible investment opportunities and therefore the growth potential of the economy. The key point of financial institution is the spread between Loan and deposits rate differences. When the lending rate is high and deposits rate is low then which results in higher the profitability for the financial institution but on the other hand it will discourage the depositor. Because the depositors getting low return on their savings and also discouraging for the borrowers because the financial institution charging high interest rate. If the financial institution doing the same then it would red ucing the saving confidence on depositor and borrower will try to avoid to borrow from financial institution. Which resulting in reducing the investments opportunities because the saving money not contributing to the economy. Financial system of developing countries showing larger spread difference as compare to the developed countries. Based on the balance sheet and profit loss information the author derived two data base. One data base developed on basis of quarterly data from 1974-1988 and other on the basis of monthly data from 1991-1996. In the period 1974-1980 the spread between loan and deposits increasing steadily and then start decreasing during the period 1981-1988 reached to 19 percent and again decreased during the period of 1991-1996. The evidence provided by the author clearly suggest that the during 1974-1980 spread increased and then during the 1981-1990 significantly decreased. This showed that the loan quality during the period remained stable and reserve ratio re quirement decreased and consistent spreads and cost lower the productivity of the state bank. A study of Maisal, Robert (1978) showed that financial markets is the degree and rapidity with which financial institution react to new information and shift funds among asset and liability classes so as to equalize marginal cost and returns. Many analysts assume that markets are efficient, that transaction and information costs are negligible or unimportant, and that borrowing and lending hedging and arbitrage are simple and available at or close to risk free rates. As a result, they believe that they can successfully predict the results of all types of markets actions and reactions without concern for institutional forces. The financial markets are so efficient that they get rapidly information and on the basis of information they are making quick decision regarding the fund management such as assets, liability, cost and income. When all the information readily available then it reduces the cost and increase efficiency of transaction such as hedging and arbitrage without taking any risk on the basis of available information analyst predict their results of any market without considering the forces. The study conducted by author on the basis of cost and revenue of cross section banks during the period 1962-1975 estimation made on the basis of net rate of income and cost of book value of assets. The net rate is the difference between the gross revenue from assets minus cost of asset and rates are net of servicing, processing and overhead cost. The result showed that major shift occurred during the period of 1970-1975. Net returns of assets considerably differ when computed on the basis of average. The study of Demirgà ¼Ãƒ §-Kunt, Harry (1999) showed the differences in interest margins and bank profitability reflect a variety of determinants: bank characteristics, macroeconomic conditions, explicit and implicit bank taxation, deposit insurance regulation, overall financial structure, and underlying legal and institutional indicators. A larger ratio of bank assets to gross domestic product and a lower market concentration ratio lead to lower margins and profits, controlling for differences in bank activity, leverage, and the macroeconomic environment. Foreign banks have higher margins and profits than domestic banks in developing countries, while the opposite holds in industrial countries. Also, there is evidence that the corporate tax burden is fully passed onto bank customers, while higher reserve requirements are not, especially in developing countries. The study showed that variation between spreads and profitability comprised of various determinants. Such as economic condi tions, regulations and financial structure. As the banks have a high ratio of asset with respect to gross domestic product and have small profit margin and banks profits. Because of debts and economic conditions. Foreign banks usually have greater margin of profits as compare to the local or domestic bank in the developing countries and different outcome for industrial countries. This study also evidence that corporate tax had a direct burden on the bank customer because bank transfer the tax burden to their customer while reserve requirement of central bank doesnt not have a significant effect on banks. The data collected at the level of banks for 80 institutes and period comprised of 1988-1995 on the size and decomposition of banks spreads and profits. Regression technique had been used to find out the determinate of interest rate spreads and banks profitability. Taxation and regulation have big impact on bank customer and overall bank position. The banking system varies from coun try to country around the world in size and composition and structure. All banks have different influence of macroeconomic conditions, regulation and market conditions. Several countries data had been used for analysis to find out the bank characteristics and conditions which affect the banks performance such as interest margins and profitability. Some variable have positive relationship with each other and some of them have a negative relationship with each other i.e. reserve ratio to profitability. The study of Samuelson Paul A, (1945) showed that the banking system as a whole is not really hurt by an increase in the whole complex of interest rates. It is left tremendously better off by such a change. If a bank were a university, nobody would doubt that it would be made better off by an increase in the interest rate. At worst, it could continue to hold all existing gilt-edge securities to maturity and be no worse off. As these matured, the proceeds could be invested at higher rates with a resulting increase in income. It would be better off in the sense that ceteris paribus it could hire more teachers per year, spend more money on buildings and stadia, and engage in more research. The only exception would be in the limiting and unrealistic case where all its money was invested in perpetuities. But even here it would be no worse off. In every other case it would be better off. The increase in the interest rates usually not affects the performance of bank, its actual effect on th e borrower. When the interest rate increases then borrower will bear the effect of increase interest rate. But it would not affect the bank performance .The reason is that the bank pay low return to depositors and charge more to borrower as interest rate increases. So, both depositor and borrower will bear the cost. In this article author taken the example of university. If this loan given to the university it certainly impact on the university performance because of increase in the interest rates. As the interest rates increases it would become more costly for the university and difficult to pay to the bank on time. The increase in the interest rates would not hurt university as its decreases capital value. This change would have a better impact on university. The study of Coleman George W, (1945) showed that the banking system would recover these losses over a period of time, the length depending upon the maturity distribution. During that period, it would be frozen in to a given maturity pattern. The earnings of the banking system upon the existing portfolio would increase. He states that immediately after interest rates have risen and capital values have scaled down, all parts of the portfolio, old as well as new, began to earn the higher rates. The rise in the interest rates bank can come up with some loss on the portfolio such as investing in the securities of longer period. The bank can recover this cost over the period of time and get desired returns and also increase in the capital of the bank. When the investment is carried at cost then it would amortize cost. It means banks amortize the investments over the period of agreement until it becomes zero. When the interest rate rise it would have immediate effect and bank re-prices the portfolio on the current interest rate and gets benefit of the opportunity. The objective of the study to find that increase in interest rate would not a sufficient impact on banks. Its directly influence on the saver or borrower. Which ultimately result in decrease in saving and investment. The management of bank continuously monitoring and updating their portfolio policies to minimize such risk. The study of Khawaja, Musleh, (2007) showed that Interest spread of the Pakistans banking industry has been on the rise for the last two years. The increase in interest spread discourages savings and investments on the one hand, and raises concerns on the effectiveness of bank lending channel of monetary policy on the other. The interest rate spreads in banking sector on the upward move. When the interest rate increases its discourages the depositor and borrower. Such as saving and investments. Banks giving low returns to depositors which results in discouragement and getting high return from borrower by charging high interest rates inclusive of spreads. Spreads are much high in Pakistan. When spreads taken into account ultimately the interest increase and banks gets high returns on lending and investments. The depositor not has any other option to save his money and also the strict requirement of SBP capital requirement. The industry has rapidly merger and acquisition. This results in decrease in the option for saving. In this study author used data of 29 banks. Variant model had been used to check variables relationship. The results showed that inelasticity in deposits supply have positive impact on interest rate spreads. To lower the spread margin central bank play a vital role to reduce the spread and other alternative would be the financial intermediary which lower the spreads. The study of Chirwa, Montfort, (2004) highlighted the importance of financial liberalization in facilitating economic development and growth. While there is no complete agreement on the removal of financial repression, usually characterized by control of interest rates, imposition of credit ceilings, and credit rationing, leads to significant amelioration of growth prospects, the dominant view is that financial liberalization and growth usually go together. Financial liberalization had a great influence on improving the economy and increasing growth. There is no certain agreement made on the financial repression. The management made certain tool and polices to control the interest rate impact on credits. Such as by applying tool of checking limits and there purpose of credit extension. The good control over the interest rate would have a significant on the performance of economy and growth of the country. Financial liberalization and growth of the economy work to gather and run head to head and boost the development of economy. The determinants of interest spread and bank profitability have been often used in the model. In portfolio choice bank trying to maximize their good portfolio. This maximizes the profitability of the banks. Bank usually made feasible choice of assets and liabilities with respective tenor interest rate. This study used monthly panel data from banking system between 1989-1999.the findings of that study showed that the after liberalization the interest rate significantly increased. The main cause of that increase was the increase in nonfinancial cost, provision for doubtful debts, taxation and variation in the inflation rates. The study of Marisel Peter, (2002) showed that in the world of endogenous money, the central banks role in monetary policy is reduced to the setting of a very short term official rate of interest, which indicates the price at which it will make liquidity available to the banking system. However; it is changes in market rates that affect behavior; and so the ability of the central bank to influence anything at all depends, first, on the interaction between official and market rates. In this paper, we use a vector autogressive error correction model to explore the response to changes in the central bank rate of three short-term market rates that have been featured previously in this journal in debates about the demand for endogenous money. The main responsibility of the state bank is to control or reduce the rates which affect the price and liquidity of the banking system and affect the availability of liquidity of the banking organizations. The fluctuation in the market interest rates will affect the function of the banking system and as well as the behavior of the consumer and economy. In this study autoregressive correction model had been used by the author to find out the responses of interest rates changes and its effect. When spread between Corporate Government bond increases then the market assume that the risk on the bond increases. When they see then they try to predict the coming slowdown and recession in the economy. After testing they have found that it would have a positive effect on the economy. They have used the Autoregressive model to test the fluctuation in prices and interest rates. The result of the paper showed that the short term interest rates have a significant impact on the banking system as compare to the long term interest rates. Short term interest rates were the major instrument of the monetary policy of the central bank. In monetary policy central bank advice the interest rates which would affect the banking system as well as the ov erall economic activities of the country. 2.1: Chapter Summary The impacts of interest rate changes have a significant impact on the bank profitability. When interest rate changes it would result in increase or decrease in the interest income. The Pakistan banking industry use Karachi Interbank Offered Rate (KIBOR) for earning assets to find out the interest income. The major portfolio reprice on 6 M KIBOR. Bank is exposing to interest rate risk. But usually bank hedge against interest rate risk to minimize its impact on bank performance. The major impact of interest rate changes would affect the depositors and borrowers. Because when interest rate changes it would discourage the saving and investment decision.

Life Is But A Choice Essays -- essays research papers

Life Is But A Choice Beginning with the time of birth until the time of death, people have to make choices everyday on how to achieve the goals in their lives. One can imagine life as a long winding road with millions of other roads branching off in many directions. The only problem is that life is too short to explore every single road. In addition, the essence of time will not allow anyone to go back to a road that was passed. Everyone must choose his/her own roads through life regardless of what other people might think. Robert Frost wrote in The Road Not Taken, " I took the one less traveled by And that has made all the difference "(Frost 423). By managing ones time efficiently and making clear rational choices, one can achieve a healthy mind, body and spirit. One important choice in life is having a healthy mind. The key to achieving a healthy mind is to be open minded. Since the day we are born, we are bombarded with information from television, radios, books, magazines, and what we observe personally. The world is filled with a vast amount of information and each individual is responsible for obtaining, understanding, and making value judgments on this information. One must understand the world around him before he can understand himself. Making the choice of obtaining a college education is extremely important in the world today. There are so many different areas which ro choose. Each individual must find w...

Acting Technique Essay -- essays research papers

â€Å"Would that the stage were a tight rope where no incompetent would dare to tread.† -GOETHE Goethe is speaking from an author’s point of view. It is the actor’s tremendous and frustrating challenge to act in plays written by Goethe and other great playwrights. Actors have to communicate complex and subtle ideas, like those that appear in Strindberg, Ibsen, Shaw and Arthur Miller. The modern actor must have virtues that the playwright, perhaps, does not have, and one is the instinct that awakens the actor to act. That instinct is stronger than we know or can analyze. An actor’s total being – mind, spirit, soul, and that essence which is talent – must be devoted to his craft. In this life, most people are forced to use only one side of themselves. All those other selves create a unique unquiet in the actor’s soul, and what provokes the actor‘s talent to be heard. Before an actor can let his voice be heard, he must visualize his needs and fears. He must make a distinction between growth and success. To humanize a young actor, have them list their assets and faults. The actor has only his own body as an instrument. Thus, he must continuously work on four tools: the body, the speech, the mind, and the emotions. An actor has the right to survive, to grow as an artist. This entails a special strength, a new discipline, and self-awareness. Only then can he realize his goals and the work ahead of him as a professional actor. The profession of acting gives the actor the opportunity to make of himself the most that he can be. The ultimate aim of this technique is to create an actor who can be responsible for his artistic development and achievement. The first tier is the energy of the voice. Resonating to reach the audi... ...ications that are more creative. This is why professional productions are more captivating and real than proletarian shows. Justifications that are more complex can be found and based on the circumstances. Justification can be taken one-step further when it is applied to characters and their beliefs. This will aid in character development and is beneficial on stage. Like a juggler of sentiment, an actor must be flexible on stage. He must be quick in reacting, but deliberate in emoting. He must have extraordinary imagination, and resolute justification. The actor’s profession is not an easy one, but is an art that crosses the aesthetic barrier and reaches an audience. He knows there is a difference between the truth of life and the truth of the theatre. The actor must communicate on the highest level. The actor must be a master of both words and ideas.