Private Financial Intermediaries and Worlds Central Banks Book Report/Review

Essays on Private Financial Intermediaries and Worlds Central Banks Book Report/Review ï » ¿Private Financial Intermediaries and World's Central Banks Financial intermediaries are charged with the aim of facilitating transfer of risk and also offering solution to the intertemporal cash flow dilemma. Financial intermediaries solve the problem of intertemporal cash flow by matching the client with the surplus and the ones with deficit (CALUNIVERSITY, 2007). Although the financial intermediaries, usually offers advice to their client there is need to solve the problem of moral hazard that arise after does not utilize the funds for the intended invest but venture into a more risky invest. Therefore, the concept of interest in case is risk return trade off of interest in consideration of the most feasible investment. This paper will discuss the concept of risk return trade off paying special consideration to the application of concepts. In this case an individual will measure the risk of investment by calculating the variation in the returns of the investment. In this case the individual uses the standard deviation. The returns of the assets in this case are the expected returns. An individual faced with an asset offering the same returns but asset A has high risk rate than asset B. The individual will choose asset B, if the asset faced the same risks but A had higher return than B, the investor would choose asset B. Investors in the business world usually use the level of risk associated with certain project and the returns of such project in determining the most feasible project to invest in. In investing an investor is certain of a return that the market is offering, this referred to as the risk free return, and in addition to these the project has uncertain future returns. It also asserted that under this concept an individual usually holds risk free asset and the risky asset. In order to arrive at the optimal portfolio an individual select the portfolio that lies along the efficient frontier. Chapter 2: The World’s Central Banks and Regulatory Authorities Every country has a regulatory body to regulate its financial markets, in most countries the body assigned this role is the central bank (public financial institutions). Central bank has many policies and tools which they use to stabilize the economy of the concerned state. In the book finance and private financial intermediaries, the author discusses in deep several central banks and their regulatory roles, of interest in this case is one of the tools used by the central bank, the monetary policy (CALUNIVERSITY, 2007). Monetary policy tools are used so to stabilize economies from macroeconomics phenomenon such as inflation, currency depreciation and under investment. Some of the monetary policy tools that have been utilized by these banks include the open market operation. In this case the government buys and sells security, for example in times of inflation the central bank sell securities to the members of the public so as to mop the excess money in circulation the vice versa happens in times deflation. The second tool is where the central banks raise or lowers reserve requirement this action will be to reduce increase the money in possession of the commercial banks. The central bank can also increase or decrease the lending rate to the commercial banks and this has a positive momentum with the lending rate the commercial banks extend credits to their customers (Walsh, 2003). In conclusion the monetary policy tools are vital as the central banks of most part of the world the tools as measure to stabilize the economy to a sustainable level this can be show cased by way the monetary policy has helped in resolving major financial crisis such as the Asian financial crisis. Works Cited CALUNIVERSITY. (2007). FIN 540 Capital Markets. California: California InterContinental University. Walsh, C. (2003). Monetary theory and policy. Massachusetts: MIT Press.

Comparative Study of The Markets of China and Europe

Question: Discuss about the Comparative Study of The Markets of China and Europe. Answer: Introduction R.M. Williams company was founded by Reginald Murray in the year 1932. The company was started in his fathers factory with very low capital investment. Gradually, the business of RM grew and diversified into bush saddler and equipment. The company today has over 50 retail stores in Australia along with one of its stores in London (R.M. Williams, 2017). The company exports to more than 15 countries and has over 900 stockists around the world (R.M. Williams, 2017). The core product of R.M. Williams is handcrafted riding boots and over the period of time the company has introduced t-shirts, caps, leather wallets and polo shirts. The company now designs and produces products for both men and women that include shirts, t-shirts, boots, boots care accessories, skirts, jeans, jackets, bags, wallets, buckles and customized shoes. The company has mastered premium Australian craftsmanship over the span of 80 years. The company produces boots that are beautiful, durable and appropriate for the needs of the customers. In 2013, LVMH purchased 49.9% of companys stake and the company is now owned by global Luxury brand Louis Vuitton Moet Hennessy (Carruthers, 2016). After a huge investment of 50 million dollars, it has become necessary to analyze the market potential to assess the market demands. The paper would thus, make an attempt to carry out a comparative study for the market of China and Europe and find out which market has more potential for the brand. An external environmental analysis would be carried out using PESTEL analysis. Comparative Environment Analysis Economic and Financial Environments China has become the worlds second largest economy after the adoption of economic reforms in 1978 (Focus Economics, 2017). The country became a manufacturing hub and attracted the countries of the world to outsource their work to China because of its low product prices. It was due to this fact that the country was able to survive the global recession of 2008. Further, the corporate tax in China is only 15% for large scale companies, that is very small as compared to western countries (Worldwide Tax, 2014). China witnessed inflation due to which the prices of transport and communication and clothing rose by 2% and 1.3% that would be a challenge for the company as the manufacturing cost of products would increase (Trading Economics, 2017). Further, the company would benefit from the low labor cost of China and abundance of skilled labor in the country. Thus, the company would benefit from growing economy, low labor cost and abundance of labor in the country. China has begun to embrace FDI by reducing the trade barriers for the foreign companies and the country has witnessed growth of 6% in its inward flow of FDI (Export.gov, 2016). The country has been able to attract foreign companies because of its growing and sustainable economy. The five largest banks of China are Industrial and Commercial bank of China, Bank of China, China construction Bank, Bank of Communications and Agricultural Bank of China (CNBC, 2013). The bank lending rose from 32 trillion yuan to 67 trillion yuan from 2012 to 2008 (CNBC, 2013). This shows that the market of China has great liquidity that would facilitate with the means of finances for the company to set up its operations within the country. Though the company is likely to face challenges due to countrys restricted policies for FDI. It would have to submit Letters of Guarantee along with acceptable collaterals. The economy of Europe has been expected to grow at a consistent pace for 2017 and 2018. Euro zone has witnessed a rise in GDP for the last 15 consecutive quarters which was supported by private consumption. It has been projected to grow by 1.6% and 1.8% in 2017 and 2018 respectively (European Commission, 2017a). The exports market has been estimated to grow for the following two years after a weak 2016. Further, inflation has also been expected to increase by 1.7% and 1.4% in 2017 and 2018 respectively (European Commission, 2017a). On the other hand, BREXIT is also most likely to have a negative impact on the economy of Europe. Europe would lose one of its most contributing members through BREXIT that could lead to downfall of the economy (Blenkilsop, 2016). R.M. Williams may take advantage of the growing economy and increasing inflation but need to stay alert to shield itself from the impact of BREXIT and rising cost of goods and services. The financial sector of Europe has been greatly affected by the 2008 global crisis. Low oil and commodity prices, negative interest rates and lower credit and equity markets have affected the profitability of banks, though liquidity of banks remain unaffected (Goffinet, 2016). Political and Legal Environments The Republic of China has communist party system with a stable political system (BBC News, 2017). The government of China strongly supports trade and investment opportunities for foreign companies. The country has gone through many structural changes that include equity joint ventures, reorientation of FDI and growing service sector (Davies, 2013). With the spread of global financial and economic crisis, the country has strongly reinforced FDI. This could be an advantage for LVMH to introduce R.M. Williams product in the market of China and it would be strongly supported by the government. China has strict laws and regulations for foreign companies that restrict their market growth in the country. Though the country has removed some of its restriction and has been making efforts to promote FDI in the country. Earlier, almost three fourth of the industries were required to enter into a joint venture with a Chinese company and one fourth industries were subjected to the clause that Chinese firm should hold the majority of the stake (Cheung and Jin, 2014). This policy has been eased down in the country and numerous industries including garments and shoes industries have now been opened for FDI. In spite of Chinas opening arms for FDI, challenges lie ahead for the foreign companies. The policies of China are more directed towards state owned firms due to which foreign investors face consistent challenges to promote their products and services (Wu, 2016). The company has strict laws that limit foreign investment after a certain limit. They face the challenges due to discriminatory laws, corruption and non-transparent anti-monopoly enforcement (Export.gov, 2016). Thus, the company would have to face legal challenges in China in order to establish and grow its market because of countrys discriminatory policies for foreign and state owned firms. The company would have to make sure that the trademark and patents are not owned by a Chinese company otherwise, it would have to face IPR infringement as faced by Hugo Boss (ICBC, 2017). Europe has gone through series of political instabilities after the economy of Greece fell apart. The impact was severe on the entire European zone as efforts were contributed by the major countries including Germany and France. The impact seems to be rising again with Syriza party in Greece and anti-euro parties in France, Spain and Greece (Spiegel, 2015). The situation of the zone seems to have become worse with the BREXIT deal that has created chaos in the entire Europe (Blenkilsop, 2016). This is likely to pour challenges in the establishment of the brand in the market in the form of changes in policy structure and international trade barriers. Since R.M. Williams has now been overtaken by LVMH, which is a France based company, therefore, it would not have to face the trade barriers of European zone. Instead, the company would enjoy all the rights as that of a home company. Cultural Environments China has the highest population in the world and thus, is an emerging market in the world. The companies have been chasing after the market of China to expand their market and grow their sales revenue by capturing the Chinese market. This change is because of enhanced standard of living of Chinese people. China has witnessed the highest growth rate in terms increasing standard of living of the people (Ross, 2013). Further, shoes market is also growing in China and the people are attracted towards global brands. The shoe market is witnessing a steady every year (Yau, 2016). Further, the fashion industry is also growing in the market of China and country is considered as potential target with 1.4 billion population (Consulate General Shanghai, 2014). The country has become one of the primary lifestyle shopping market with its increasing standard of living and demand for global products (Young, 2015). The Chinese perceive global brands as their aspiration product. Thus, China has huge potential for the brand with its growing population and increasing trend among the consumers. Europe has diversified population from all parts of the world that varies in their culture and traditions. The zone has very high standards of living and the people are very conscious about the brand they wear. The people of France, Germany, Italy and Switzerland have a passion for premium luxurious brands. Garment and shoe market had a turnover of 166 million euros in 2013 (European Commission, 2017b). Further, the demand for luxurious shoes and garments has been constantly increasing due to high standards of living. Thus, in terms of socio-cultural factors, the market has great potential for R.M. Williams. Strategic Recommendations The growing economy and low cost labor of China would facilitate smooth operations in the country, but strict government policies for credit facility for the foreign companies would pose challenges for the brand. Further, inflation rate would also surge the cost of manufacturing products in China. On the other hand, Europes stable and growing economy would facilitate growth but the BREXIT deal would have a negative impact. Finance would be comparatively easier in Europe but profitability of banks is in danger. Thus, economic and financial environmental conditions of Europe offer greater opportunity as compared to that of China. The company is likely to face challenges due to discriminatory policies and lack of transparency in China. Further, government policies are more state owned firms oriented due to which the company would have to face great number of challenges in China. On the other hand, the company would not have to face any legal challenge in Europe because LVMH, France based company, has acquired R.M. Williams, that makes R.M. Williams a domestic company. China and Europe both are politically stable, except that Europe faces the threat of BREXIT and Greece is also politically unstable after the breakdown of its economy. China has great market for western brands because of changing consumer lifestyle, yet the majority of the people cannot afford premium brands. On the other hand, Europes countries are among the countries with high purchasing power and standard of living. An average European is inclined to buy luxurious products that are perceived very expensive by Chinese people. Thus, the above analysis states that market of Europe is better in terms of economy, financial borrowing and liquidity, flexibility of legal policies and standard of living of people. Thus, Europe is the recommended market and has more potential as compared to China. Conclusion The analysis and discussion thus, reveals that Europe has more market potential as compared to market of China. China in spite of being the fastest growing economy of the world does not provide the suitable legal and political environment for the company to establish and grow its market. Chinas discriminatory policies and lack of transparency do not support the growth of foreign companies and its policy structure is more directed towards state owned firms that hinders the operational activities of foreign companies. The foreign companies face intellectual infringement challenges and the ruling goes in the favor of Chinese domestic companies. On the other hand, LVMH being a France based company would benefit in terms of financial and legal aspects in the European Zone. Further, there is a large market of garment and shoes in Europe that would facilitate the establishment of the company. References BBC News. (2017). China country profile. BBC News. Available at: https://www.bbc.com/news/world-asia-pacific-13017877 [Accessed Online 13 April 2017]. Blenkilsop, P. (2016). From trade to migration - how Brexit may hit the EU economy. Reuters. Available at: https://uk.reuters.com/article/uk-britain-eu-economy-europe-idUKKCN0ZA0KE [Accessed Online 14 April 2017]. Carruthers, F. (2016). R.M. Williams sets out to sell its Australian story to the world. Financial Review. Available at: https://www.afr.com/brand/afr-magazine/rm-williams-sets-out-to-sell-its-australian-story-to-the-world-20160214-gmu1ih#ixzz4e7nCDitu[Accessed Online 13 April 2017]. Cheung, F., and Jin, J. (2014). China Expected to Lift Restrictions on Foreign Direct Investment through New Guidance. Deacons. Available at: https://www.deacons.com.hk/news-and-insights/publications/china-expected-to-lift-restrictions-on-foreign-direct-investment-through-new-guidance.html [Accessed Online 14 April 2017]. CNBC. (2013). China Big 5 Banks' 2012 Profit Seen Up 12% at $121 Billion. CNBC. Available at: https://www.cnbc.com/id/100575545 [Accessed Online 14 April 2017]. Consulate General Shanghai. (2014). CHINAS FASHION INDUSTRY. Consulate General Shanghai. Available at: https://china.nlambassade.org/binaries/content/assets/postenweb/c/china/zaken-doen-in-china/sectoren/creatieve-industrie/china-fashion-industry-kansenrapport.pdf [Accessed Online 13 April 2017]. Davies, K. (2013). China Investment Policy: An Update. OECD Publishing. Available at: https://www.oecd.org/china/WP-2013_1.pdf [Accessed Online 13 April 2017]. European Commission. (2017a). Winter 2017 Economic Forecast. European Commission. Available at: https://ec.europa.eu/info/business-economy-euro/economic-performance-and-forecasts/economic-forecasts/winter-2017-economic-forecast_en [Accessed Online 14 April 2017] European Commission. (2017b). Textiles and clothing in the EU. European Commission. Available at: https://ec.europa.eu/growth/sectors/fashion/textiles-clothing/eu_en [Accessed Online 14 April 2017]. Export.gov. (2016). China - Openness to and Restriction on Foreign Investment. Export.gov. Available at: https://www.export.gov/article?id=China-Openness-to-and-Restriction-on-Foreign-Investment [Accessed Online 14 April 2017]. Focus Economics. (2017). China Economic Outlook. Focus Economics. Available at: https://www.focus-economics.com/countries/china [Accessed Online 13 April 2017]. Goffinet, Y. (2016). European Banks: A Problem Of ProfitabilityBut Not Of Liquidity Or Solvency. Perspectives. Available at: https://perspectives.pictet.com/2016/02/12/european-banks-a-problem-of-profitability-but-not-of-liquidity-or-solvency/ [Accessed Online 14 April 2017]. ICBC. (2017). Import T/T Credit Facility. ICBC. Available at: https://www.icbc.com.cn/ICBC/Global%20Service/International%20Financing/Overseas%20Loan%20under%20Domestic%20Guarantee/ [Accessed Online 14 April 2017]. R.M. Williams. (2017). A Lifes Work. R.M. Williams. Available at: https://www.rmwilliams.com.au/r.m.w.-the-company/Footer_company information.html?lang=en_AU [Accessed Online 13 April 2017]. Ross, J. (2013). China has the world's fastest growth in living standards. China.org. Available at: https://www.china.org.cn/opinion/2013-10/24/content_30391004.htm [Accessed Online 13 April 2017]. Spiegel, P. (2015). European politics emerges as one of the top global risk factors. Financial Times. Available at: https://www.ft.com/content/285b6780-847f-11e4-bae9-00144feabdc0 [Accessed Online 13 April 2017]. Trading Economics. China Inflation. (2017). Trading Economics. Available at: https://www.tradingeconomics.com/china/inflation-cpi [Accessed Online 13 April 2017]. Worldwide Tax. (2014). China Tax Rates. Worldwide Tax. Available at: https://www.worldwide-tax.com/china/china_tax.asp [Accessed Online 13 April 2017]. Wu, W. (2016). Is China making life difficult for foreign companies?. South China Morning Post. Available at: https://www.scmp.com/news/china/diplomacy-defence/article/1940397/china-making-life-difficult-foreign-companies [Accessed Online 14 April 2017]. Yau, P. (2016). Chinas Footwear Market. HKTD Research. Available at: https://china-trade-research.hktdc.com/business-news/article/China-Consumer-Market/China-s-Footwear-Market/ccm/en/1/1X000000/1X002MPH.htm [Accessed Online 13 April 2017]. Young, S.B. (2015). Selling Shoes to China: An Opportunity for Global FootwearBrands. Foot Wear News. Available at: https://footwearnews.com/2015/business/retail/china-prime-sales-target-19323/ [Accessed Online 13 April 2017].

Analytical Essay Sample on a Fictional Character #8211; Atticus Finch

Analytical Essay Sample on a Fictional Character #8211; Atticus Finch Atticus Finch is basically a fictional character included in Harper Lee’s popular novel christened, To Kill a Mockingbird. According to the novel, Finch, a resident of Maycomb County, which is also a fictional country in Alabama, is a lawyer and the father of two children named Jeremy and Jean. Apparently, Lee based the characteristics of Finch on those of his own father, Coleman Lee. Coleman was, just like Finch, a lawyer in Alabama who worked hard to voice and defend the rights of black citizens accused of myriad of crimes. Most of the trials taken by Coleman were highly publicized, just as those that are taken by Finch. In the novel, Finch is described as a strong individual with a very strong character. Finch is also described as an individual who is never afraid to put his own life in danger while defending the rights of accused blacks. Not only did the cases place his life in danger but the cases also posed a big threat to his career. These threats, however, did not seem to scare away Finch who even worked hard on the highly publicized and controversial cases. Finch’s character is that of an individual who actively pursues justice and demonstrates good examples of a scout. The character also demonstrates the importance of integrity and just how important it is to be willing to sacrifice everything that one has in pursuit of the truth and in search of justice. It is as if Lee admired his father so much that he decided to illustrate what he thought of his father in the book. Lee, through Finch’s character, appears to be teaching the audience that once they believe in something, they should not be afraid to go after that thing, regardless of the consequences. One of the most popular quotations in the book is that which states that â€Å"one can never really understand an individual until one begins looking at the situation at hand from the view of that individual. It is not until one climbs into an individual’s skin and walks around in it that one will understand that individual.† In this quote, Finch appears to be giving an important piece of advice to Scout when she experiences a very tough time while in school. The quote is meant to help Scout go back to school even though she had made up her mind never to go back to school. The other popular quotation is â€Å"the one thing that does not follow the majority of what is accepted by people is an individual’s conscience.† This is a famous quote in the book because it offers a piece of advice that many people can use by directly applying it to their own situations. Basically, Finch is saying that people should learn to accept the fact there are certain things that happen in life that we cannot do anything about and should therefore not fight them but learn to accept them as they are. Tips on writing a Good 5-paragraph essay on Atticus Finch: Use concrete examples; Comment on every example or argument you include in the essay; Dont be too descriptive and stay on point in your discussion. Do you need professional 5-paragraph essay on Atticus Finch topics? Our essay writing services are designed especially for you!

Negotiation Paper Essays

Negotiation Paper Essays Negotiation Paper Essay Negotiation Paper Essay Thomas could not decide what to do. Rodgers asked for advice from all sorts of people including his parents. His father knew someone who worked at a car dealership and they set up an appointment to go meet with him. Upon entering the car dealership for his appointment Rodgers brought all his information with him that he had previously gathered from other resources. When starting to negotiate the dealer asked Rodgers to take a look around at the cars to see what type of car he wanted to Invest in. Rodgers already knew what he wanted and how much he wanted to spend. He expressed this to the dealer and he explained to the dealer what his bank had already stipulated. The dealer responded by telling Rodgers he can get him in the car he wanted at a better interest rate and it would be a 2010 vehicle. The dealer asked what color car he wanted and Rodgers replied silver. The dealer began working on the sale. The dealer ran Into a problem with that particular vehicle, the amount was over what Rodgers credit said he can afford (debt to orator)_ So the dealer asked Rodgers If e would be willing to switch to a light blue car with just a few thousand miles on it but it still was a 2010. Rodgers agreed. The dealer started re-working the sale. After a while the dealer told Rodgers he can get him into that vehicle at a lower interest rate but he needed $500 more towards the deposit. Rodgers wanted a little bit more to the contract If he was going to put down $5,500. The dealer worked some more. Finally, the dealer said the best he could do was a lower Interest rate with the same amount of deposit, with an added car protection maintenance plan for five years for the care, ND the final total of the car would be less than what he initially intended to spend. To sum it up Rodgers drove away in a vehicle that he really liked for a final total after deposit of $13, 543, an interest rate of 7. 9%, the car was a 2010, low miles, with the five year protection plan, the car only had one previous owner, the car had been in no car accidents, and a low monthly note. According to McGraw-Hill negotiating Is not only common but It Is also essential to living an effective and satisfying life. Negotiation is an agreement that has been agreed upon between two or more arties. Negotiations can occur in all different kinds of circumstances such as, business, government, personal individuals, legal proceedings, nations, marriages, parenting, and divorce. Attitude plays an important role in negotiations. Attitude has the potential to be positive or negative in a negotiation. Negative attitude can cause Intense emotion between the parties Involved. Conflicts can escalate and this can cause a Dreamlike In ten negotiation. Having a positive Attlee can possibly De able to lead to reach an agreement. This can possibly help maximize gains in the estimation. Positive and negative discrete emotions can be strategically displayed to influence task and relational outcomes and may play out differently across cultural boundaries (Spokesman, Rosette, and Thompson). Each negotiation situation is different, and is also influenced by a person style or emotions. Often negotiation is looked at as something bad, because it implies a difference in the parties involved. Understanding more about negotiations will allow the parties involved to manage the negotiation with confidence. This will most likely increase the chance of the outcome o be positive for all parties involved. Negotiation should not be confrontational. An effective negotiation is when there is communication with all parties involved and working together to find a solution. The attitude that a person takes in a negotiation sets the tone for the interaction between the parties. It is normal to become emotional in a negotiation. Keep in mind the more emotional one gets the less one is able to channel the negotiation in constructive ways. It is very important to maintain control. Overall, Rodgers did his research before entering the car dealership. Rodgers knew what his goal was and he went into the dealership with a positive attitude. Having a positive attitude Rodgers had more confidence going into the dealership. Rodgers knew that if he had a negative attitude going in it may have had a detrimental effect on the negotiation. Having a negative attitude going in could have cause the negotiation process to begin with distrust and clouded both parties judgment. This would have also narrowed the individual focus of attention and change the mind of both parties general goal from reaching the agreement.

Analysis of a Qualitative Research Report Essay

Analysis of a Qualitative Research Report - Essay Example Teachers are in the unique position of establishing a relationship with the student wherein the teach may feel obligated to protect the student. When a student dies, the teacher may feel responsible for that death to some degree. It is important for individuals in the nursing profession to identify the need for services to individuals in need. In so doing, individuals in the nursing profession can recommend services for all those involved utilizing a team approach. Essentially, when nurses identify the need for services, they can work with an interdisciplinary team which often includes social work staff, psychological services staff etc. A referral initiated by the nursing staff can be vital to ensuring teachers are provided with the appropriate services to assist them in the grieving process and assure that the teachers arrive at the point of acceptance and return to their lives free of guilt, anger and the other symptoms which accompany a loss. The purpose of this study was to examine the way in which teachers deal with the death of a student during the school year. This is significant to the field of nursing in that there is a very real possibility that a teacher who has experienced the death of a student will have to seek the assistance of a nurse or someone in the nursing profession was a direct result of the inability to cope with the death of a student. In seeking the assistance of a nurse, it is important for nurses to be aware of both the physical and psychological effects of having experience the death of a young person. In being aware of the effects, a nurse or someone in the nursing profession is able to make an informed decision with regards to the course of treatment as well as to engage the necessary professionals in rendering a continuum of services. iii) Research Question: What is the research question? If it is not stated, what would be the research question? In what way would you say that the question is

Linux vs HP-UNIX Essay Example | Topics and Well Written Essays - 1000 words

Linux vs HP-UNIX - Essay Example "A single class of process is a feasible approach in Plan 9 because the kernel has an efficient system call interface and cheap process creation and scheduling." (Pike et al) Bell Labs: The kernel support for parallel programming in Plan 9 is a few hundred lines of portable code; a handful of simple primitives enable the problems to be handled cleanly at user level. Although the primitives work fine from C, they are particularly expressive from within Alef. The creation and management of slave I/O processes can be written in a few lines of Alef, providing the foundation for a consistent means of multiplexing data flows between arbitrary processes. (Pike et al) Bell Labs UNIX is a "multi-tasking OS, which means that there may be many programs and many programs and people using the same machine at the same time, by using the concept of a virtual machine". (Seth Noble, 2005) Linux's bottom half handlers were invented so that device drivers and other parts of the Linux kernel could queue work to be done later on. Figure 11.1 shows the kernel data structures associated with bottom half handling. Bottom Half Handling Figure 11.1: Bottom Half Handling Data Structures There can be up to 32 different bottom half handlers; bh_base is a vector of pointers to each of the kernel's bottom half handling routines. bh_active and bh_mask have their bits set according to what handlers have been installed and are active. If bit N of bh_mask is set then the Nth element of bh_base contains the address of a bottom half routine. If bit N of bh_active is set then the N'th bottom half handler routine should be called as soon as the scheduler deems reasonable. These indices are statically defined; the timer bottom half handler is the highest priority (index 0), the console bottom half handler is next in priority (index 1) and so on. Typically the bottom half handling routines have lists of tasks associated with them. For example, the immediate bottom half handler works its way through the immediate tasks queue (tq_immediate) which contains tasks that need to be performed immediately. (Rusling, David 1999) Shell The shell application inside the UNIX Plan9 system are set up for standard input and output connection to the editable text of the window with such features as its own private bitmap and multiplexed access to the keyboard, mouse and other graphical resources. The UNIX shell is commonly defined as the command line which provides the user interface for the actual operating system. By executing input commands, the shell will then execute those exact inputs. There are different shells that are available for Linux and is very much the same as UNIX in its description of how the shell application works. The following shells are available for Linux: Shell Name Developed by Where Remark BASH ( Bourne-Again SHell ) Brian Fox and Chet Ramey Free Software Foundation Most common shell in Linux.

Comparison Of Two Learning Theories Education Essay

Comparison Of Two Learning Theories Education Essay Learning is a persisting changes in performance or performance potential that result from experience and interaction with the world (Driscoll, 2000, p.3). The way we process information is as individual as our genetic makeup, but research has shown that there are many different types of learning theories used for classroom education. (Merriam, Caffarella, Baumgartner, 2007; Weimer, 2002; Steiner, Floyd, Hewett, Lewis, Walker, 2010). The theories of behaviorist and cognitivist are important to compare because they are a part of the basic foundations in which other learning theories have been formed. In order to apply learning theories to nursing practice, the need to understand the basis of different theories is important. Theories have been researched and tested and have some importance as to how things work across different situations and circumstances. Theories can give some consistent ways of looking at classroom practice and some rational explanations for what happens within th e class. Philosophy Behaviorism is primarily concerned with observable and measurable aspects of human behavior. In defining behavior, behaviorist learning theories emphasize changes in behavior that result from stimulus-response associations made by the learner. Behavior is directed by stimuli. An individual selects one response instead of another because of prior conditioning and psychological drives existing at the moment of the action (Parkay Hass, 2000). In education, this type of learning falls into the reward/punishment category. The rewards must be important to the learner in order to give the incentive to respond favorably. Cognitive science began a move from behavioristic practices which emphasized external behavior, to a concern with the internal mental processes of the mind and how they could be utilized in promoting effective learning. The models that had been developed in the behaviorist tradition were not disregarded, but instead the task analysis and learner analysis parts of the models were elaborated on. Cognitivism is based on the thought process behind the observations. Changes in behavior are detected and perceived to be an indicator of what was happening inside the mind. The new models addressed component processes of learning such as knowledge coding and representation, information storage and retrieval as well as the incorporation and integration of new knowledge with previous information. (Saettler, 1990) Origins and Authors The foundation of Behaviorism, trace its roots to the early part of the 20th century. This was during a time when many psychologists emphasized self-analysis of mental processes (introspection) or the psychoanalytic theory of Sigmund Freud. In contrast, researchers like Ivan Pavlov, began to develop a framework which emphasized observable processes (environmental stimuli and behavioral responses). (Kentridge, 2007) Originators and important contributors to behaviorism believed that learning is confined to observational and measurable behavior. The two major schools of thought are based on ideas from Pavlov who showed classical conditioning and Skinner who believed in operant conditioning. One of the most famous experiments on classical conditioning is from Russian physiologist, Ivan Pavlov (1849-1936). Pavlov originally was doing an experiment regarding the role of salivation in digestion. From his observations, Pavlov noticed when his assistant brought meat into the laboratory; the dogs being used for in this experiment would automatically start to salivate. Further research into this phenomenon formed the famous Pavlovs stimulus and response experiment, known now as classic conditioning. Classic conditioning is a four-step learning procedure involving reflexes. (Fig. 1) http://www.simplypsychology.org/pavlov.html Fig. 1 Pavlovs Dog Experiment During classical (or Pavlovian) conditioning, human and animal subjects change the magnitude and timing of their conditioned response (CR), as a result of the contingency between the conditioned stimulus (CS) and the unconditioned stimulus (US). Whereas in classical conditioning, the US and the CS determine the form of the CR, in operant conditioning the strength and frequency, but not the form, of the response is independent of the US. (Schmajuk, 2007) B.F. Skinner (1974) coined the term operant conditioning; it means roughly changing of behavior by the use of reinforcement which is given after the desired response. Skinner identified three types of responses or operant that can follow behavior. Skinner believed that we do have such a thing as a mind, but that it is simply more productive to study observable behavior rather than internal mental events. In essence, Skinner believed we are what we have been reinforced for being (Olson Hergenhahn, 2009, p. 76). Operant conditioning has been widely applied in clinical settings (i.e., behavior modification) as well as teaching (i.e., classroom management) and instructional development (e.g., programmed instruction). This theory states that when learning is rewarded, behavior is perpetuated or maintained, while punished behavior is removed. In the classic experiment of Skinner Box, a rat may receive a food reward every time he presses the bar. He presses faster and faster. (Fig 2). http://www.simplypsychology.org/operant-conditioning.html Fig. 2 Skinners Rat Box The major techniques used in operant conditioning are: Positive reinforcement increasing a behavior by administering a reward. Negative reinforcement increasing a behavior by removing an aversive stimulus when a behavior occurs Punishment decreasing a behavior by administering an aversive stimulus Extinction decreasing a behavior by not rewarding it. Albert Bandura thought Skinners theories were too simplistic although he also believed many of the psychological constructs of previous psychological thought were far too laid back, and were neither problem-solving nor action-oriented (Bandura, 1997). He believed in reciprocal determinism, that is, the world and a persons behavior cause each other, while behaviorism essentially states that ones environment causes ones behavior, Bandura, who was studying adolescent aggression, found this too simplistic, and so in addition he suggested that behavior causes environment as well. Later, Bandura soon considered personality as an interaction between three components: the environment, behavior, and ones psychological processes (ones ability to entertain images in minds and language). (Bandura, 1997) Cognitivism considers the learner as an information processor, much like that of a computer. It believes that the black box of the mind should be opened and understood. The information comes in, is processed and leads to certain outcomes. The concept believed that people are not just like rats that respond to stimuli but rather, they are rational thinking human beings that require active participation to learn. There are four major contributors to the Cognitivists theory. Howard Gardner believed that students learn in different ways. According to Gardner, we are all able to know the world through language, logical-mathematical analysis, spatial representation, musical thinking, and the use of the body to solve problems or to make things, an understanding of other individuals, and an understanding of ourselves. Where individuals differ is in the strength of these intelligences the so-called profile of intelligences -and in the ways in which such intelligences are invoked and combined to carry out different tasks, solve diverse problems, and progress in various domains. (Gardner, 1991) Fig. 3 -Multiple intelligences Robert Gangne developed information processing theory identified eight levels of intellectual skills including: signal, stimulus-response, chaining, verbal association, multiple discrimination, concept formation, principle formation and problem solving. He also explained that there are five areas of learning outcomes: verbal information; intellectual skills; cognitive strategies; motor skills and attitudes. www.classweb.gmu.edu Fig. 4-Levels of Intelligence Allan Paivio discovered Dual coding theory that states people process information in two different ways; processing of images and the processing of language. Fig http://cslsrv.ice.ntnu.edu.tw/LabNews/Minutes01S/20010412joseph.htm Fig. 5- Dual Coding Theory Benjamin Bloom described six levels of learning in his model of critical thinking. These levels are also known as Blooms Txaonomy. . http://taspd.edublogs.org/2007/04/23/revised-blooms-taxonomy/ Fig. 6- Blooms Taxonomy Literature Review The two movements differ particularly in their views on behavior. Behaviorism, whose research subjects were mostly animals, views behavior as an irreducible consequence of environmental stimuli, whereas Cognitivism, whose research subjects are often humans, sees behavior as a point from which to abstract the mental processes behind the behavior. Skinners studies of operant behaviors have become very useful in the field of learning and cognition (Corey, 2009). Studies have shown that behavior can be conditioned by reinforcements, positively, which increases the probability of the behavior happening again, or negatively, which decreases the probability the behavior will happen again (Olson Hergenhahn, 2009). Skinners theories still remain in wide use, helping users understand and control behaviors in many disciplines as well as in issues ranging from advertising to parenting (Olson Hergenhahn, 2009). According to Corey (2009), the research of Kazdin (2001) and Spiegler Guevremont (2003) revealed that behavioral therapy is generally as effective as alternative therapies, and in some instances, more effective. The Cognitive Learning Theory supports the idea that learning includes different kinds of memories, motivation and thinking. One of the other important factors is that of reflection. Those that promote Cognitivsm believe that the learning process is internal and depends on memorized information from pre-existing knowledge. (Ausubel, 1974) The theory argues that the degree of which a person learns is not affected by the ability and quality of mental processing. (Craik Tulving, 1975; Craik Tulving, 1975) Cognitivism maintains that memory is stored by using a connective pattern of information that networks with other patterns by means of some type of a relationship. (Stoyanova Kommers, 2002) Use in Nursing Education Writing behavioral-based instructional objectives seems to specify clear, measurable terms to assist learners. According to Morrison (2001), behavior based objectives become the end rather than the means for instruction. Morrison continues to point out that cognitive focused instructional objectives overcome this problem by first stating a general objective to communicate the intent. Additionally, they observe that cognitive objectives are well suited for describing higher levels of learning. (Morrison et al., 2001, p. 97) In behaviorism, the learner is actively involved in learning, practicing, and demonstrating new behaviors and is extremely dependent on receiving feedback from the educator. The educator is responsible for identifying behavioral outcomes, controlling the environment, and providing feedback. Current use of behaviorism in education is most often associated with education and training (Merriam et al., 2007). Behaviorism does well in education because it promotes good behavior and recognizes that unwanted behavior has consequences. Students learn by observing and interpreting the behavior, and associated consequences, of others in a process termed vicarious reinforcement or modeling (Bandura, 1977). Learning by modeling involves a complex process of interpreting, coding, and retaining the information for future application, then engaging in the modeled behavior (Bandura, 1969). Cognitivists have influenced educational strategies by including prior knowledge in influencing how new information is digested. Cognitive learning theorists believe that learning is an internal process in which information is integrated or internalized into ones cognitive or intellectual structure. Learning occurs through internal processing of information. From the cognitive viewpoint, how new information is presented is important. In the first or cognitive phase of learning, the student learns the overall picture of what the task is and the sequences involved. In the second, or fixation learning phase, the learner begins to gain skill in performing the task. In the last phase of learning, the automatic phase, the student gains increasing confidence and competence in performing the task. (Elias et al., 1984) Personal Use I believe that we all use a part of the behaviorists way of learning, to some extent. We all like to be awarded for the work or behavior that we have accomplished. We know there are repercussions and consequences for not adhering to the rules. Our behaviors represent how we are perceived by others in society. The determination of how others behave is by the use of checks and balances of stimuli and response. The way we act and/or behave, teaches people how to respond to us. I believe that I am motivated to learn and acquire more knowledge. The ability to mentally organize, rehearse and comprehend new learning materials is one I strive to obtain. The motivation that has driven me to succeed in both by personal and professional lives has been founded on realistic and challenging goals. Conclusion There are many different ways of learning and teaching. Two of the earliest methods of learning can still utilized in todays classroom. The foundation of theories helps us as a framework to base our learning and teaching upon. We can use positive and negative reinforcement as well as modeling to teach our students how to absorb and maintain new materials. Behaviorism is a teacher based concept full of structure and rules. Examples are class lectures, note taking and role modeling. Cognitivist used a student based concept in which students can find out information by themselves by using case studies, research and discussions. These two types of learning theories can help to shape our future generations.