Liberal Studies Versus Concentrated Degree Essay

Thesis Statement: Liberal Arts graduates who possess a wide array of skills have a less difficult time finding long-term employment compared to more applied streams of education. (May Change- I am still hesitant about my topic) A List: Philip Giles, Torben Drewes, and Jon Cowans Abstract: The liberal studies education provides a graduate student with numerous skills and endless employment opportunities. In our continuously changing society and job market, many are struggling with finding employment within their careers. Research currently states that learning various skills and developing a broad-based skill set is the key to having a successful and long-lasting career. For some the liberal education means a general education in terms of â€Å"the classic great books,† as opposed to specialized training for a particular career. For others, it means the subject matter, â€Å"the liberal arts† or â€Å"the humanities. † Either way, the liberal arts offers a diverse education that prepares one for life. Annotated Bibliography: Liberal Arts Degrees and the Labor Market, Philip Giles and Torben Drewes Although more fulfilling salaries for liberal arts careers are promising in the longer term, research says that those of applied majors tend to occupy more job offers and higher salaries at entry level (Short 1). â€Å"While both groups received substantial average hourly wages, wage rates for applied programs graduates were about 6% higher for both men and women† (Giles and Drews 29). Currently, there is a higher demand among employers for new graduates with majors such as engineering, health professions and computer science, however, a lower demand for new graduates with a liberal arts major. It is clear that majority of students are graduating with a technical degree such as business or engineering, however, research shows that graduates with a Humanities degree will develop stronger careers in the future. â€Å"Their longer-term career entry and advancement prospects may be equal or superior to those whose undergraduate majors are of immediate interest to employers† (Short 1). The article states that Humanities and social sciences students acquire different skills than those obtained in more vocationally trained settings (Giles and Drews 32). These Humanities skills, according to the article, earn lower wage rates in entry level positions, however, later in their careers there was higher rates of employment and wages than their applied program counterparts. The reasoning for this, according to Giles and Drew’s article, is it takes longer for liberal arts graduates to figure out what they want to do because the direction they want to go in is not as clear as those of a technical major such as business. The picture that emerges is one in which individuals graduating from programs in the humanities and social sciences had considerably more difficulty with the school-to-work transition† (Giles and Drews 33). In other words, an engineering major has a more concise and direct education that leads them to a certain career, however those who are liberal arts graduates with a broad-based Humanities education, have a more explorative time finding what career direction to follow. Of What Use These Liberal Arts, Jon Cowans A recent study says that Arts graduates were highly successful in gaining long-term employment because of their academic breadth and flexibility (Cowans 20). In Jon Cowan’s, Of What Use These Liberal Arts, a 2002 Trent University economics professor published a study called Value Added: Humanities and Social Sciences Degrees on recent university graduates in the job market. He wrote, â€Å"The development of more generic, but valuable, skills may actually give the liberal arts and science graduates a leg up on their more vocational counterparts since such skills are much less likely to be rendered obsolete by technological trade-induced shocks. The ability to switch sectors of employment has value in a rapidly changing economy† (Cowans 21). In other words, liberal arts and science graduates, according to Cowans, have an advantage in the job market because of their broad-based and adaptable skills. According to the article, it is principally for these skills that the Arts graduates are finding employment. â€Å"A better organized mind, capable of inquiring and distinguishing false from true and fact from opinion; a mind enhanced in its ability to write, read and compute† (Cowans 21). The main distinction Cowans makes is that more applied streams of education limit a graduate whereas a liberal studies major has a more diverse educational background to offer an employer. Yes a Liberal Arts Education Can Be Productive, Joseph Short President of Bradford College, Joseph Short, believes that a strong liberal arts education prepares students to strive for a fulfilling career. According to Short’s, Yes a Liberal Arts Education Can be Productive, an education in the Arts paves more pathways to executive, professional, and leadership positions in society than many vocationally specific undergraduate majors in technical fields (Short 1). Further, a degree in liberal arts develops higher-order intellectual skills such as problem solving, reasoning, and data analysis that allow the Humanities graduate to perform various skills that are affective within a number of careers. Last, these graduates are highly recommended for entry level and long term occupations in education, communications, journalism, human services, management, government and internal relations (Short 1). Liberal Arts Studies Offer an Edge in Corporate Jobs, Carol Kleiman Similarly, in Carol Kleiman’s article Liberal Arts Studies Offer an Edge in Corporate Jobs, she discusses the negative impact having a technical degree such as business has on a graduate. In the article, John R. Marshal has an engineering degree from Princeton University and an MBA from the University of Virginia but still felt a gap in his education.’ I had too narrow a technical education, and while that helps meet your employer’s immediate needs, you’re not left with any way to navigate your life’† (Kleiman, 1). Consequently, he went back to school for a degree in liberal studies and felt a more broadened view of the world (Kleiman 1. ) Overall, Kleiman’s article explains that any sort of education is worthwhile however, an in-depth educational background in liberal studies allows the strong possibility for an advancing career of upward mobility because of its broad education and endless employment possibilities. What Does a Liberal Arts Degree Get You in Today’s Job Market, Eisa Nunez According to Eisa Nunez’s What Does a Liberal Arts Degree get you in Today’s Job Market, â€Å"in today’s technological world – where knowledge doubles every 18 months and industries are created in less time – requires workers with transferable skills they need to be ready for as many as 11 different jobs in a lifetime† (Nunez 1). â€Å"The only education that prepares us for change is a liberal education. In periods of change, narrow specialization condemns us to inflexibility† (Nunez 1). It is true that 70 to 80 percent of college freshman list the following as their reasons for attending college: earning money, finding job, and preparing for a career (Nunez 1). Rather than concentrating on learning one skill and going out into the workforce, Nunez says that taking time to develop critical thinking, writing, and presentation skills in various areas is necessary to leading a long term successful career in the 21st century. This preoccupation with the short-term is based on an old labor-market model that assumes that a narrow, technical education is the key to success. However, David Kearns, executive chief officer of Xerox says, â€Å"This idea does not work in a modern economy where adaptability is the key† (Nunez 1). College of Liberal Arts Needs a Makeover On the contrary, in College of Liberal Arts Needs a Makeover, the author says that the college major, Liberal Arts is in dire need of a makeover, â€Å"a new marketing campaign to promote an updated image† (Frank 1). â€Å"It’s a shame that many people believe a liberal arts major has limited job prospects upon graduation† (Frank 1). Further, the article states that businesses would rather have new hires with specialized technical training to fill entry level positions. â€Å"People who can hit the ground running, they say, like engineers, programmers, hotel managers, nurses, lab technicians† (Frank 1). In other words, those fresh out of technical training are prepared to begin working in the career of their choice, whereas Liberal Arts graduates need more training in their job choice. Frank says that because the name Liberal means free or generous, the word free gets mistaken with easy. An engineering student has to master really difficult subjects like physics and calculus. A liberal arts student takes English and history† (Frank 1) Therefore, subconsciously, people think it can’t be that hard to study English. Interdisciplinary Approach: Advantages and Disadvantages, and the Future Benefits of Interdisciplinary Studies, Casey Jones In Casey Jones article, Interdisciplinary Approach: Advantages and Disadvantages, and the Future Benefits of Interdisciplinary Studies, discusses the current structure of the educational system. She believe that Liberal or interdisciplinary studies focus on the fringes of a field and owers an academic’s reputation in the eyes of his peers and hurts his chances for tenure†(Jones 78). In other words, the academic system is still very much structured on the concentration of specific majors because the integration of interdisciplinary or Liberal studies, does not fully prepare a student for employment in the real world. The Employable Liberal Arts Major, Rachel Donadio Similarly, Rachel Donadio’s article points out with tuition costs raising and the state of the economy, it is better to learn as many applied skills as possible. This year at Colgate and New York University, there have been professional training programs instilled which allow students to participate in non-credit courses that offer them specific job training within a field. With the competitive job market, there are a lot of specific skills that young people need as the economy and employment industry continue to diversify. â€Å"Colleges say they aren’t abandoning the liberal arts education but rather bring the ideal slightly more in line with the job market reality† (Donadio). Although this article slightly goes against my thesis statement, I believe it offers a different view on the liberal arts education. Studies Indicate that Liberal Arts Grads are Less Likely to be Recruited for Jobs In Studies Indicate that Liberal Arts Grads are Less Likely to be Recruited for Jobs, The Wall Street Journal, confirms that employment recruiting companies favor top ivy league schools over less reputable schools. In this article, seniors graduating from Mount Holyoke, a liberal arts college, â€Å"are much less likely to be recruited from top companies† (The Mount Holyoke News). Although they are less likely to be recruited, employment after college is not as affected. â€Å"The national unemployment rate for college graduates under 25 in 2010 was 8 percent, up from 6. 8 percent in April 2009 and 3. 7 percent in April 2007† (The Mount Holyoke News). Despite the great recession, according to the article, our recent graduate have done well. â€Å"Our students have the critical thinking skills, the communication skills, the ability to understand. The ability to communicate across cultures-the things employers really look for† (The Mount Holyoke News).

Introduction to Ambisonics

The development of Ambisonic surround sound systems started in the 1970’s. They were based on a mathematical model of directional psychoacoustics, which was developed by Michael Gerzon. The model which he developed, described directional psychoacoustics in a mathematical form, so that it could conveniently be used in calculations relating to surround sound system (Mallham 10) Ambisonics can be defined as a method of recording information about a soundfield and reproducing it over some form of loudspeaker array so as to produce the impression of hearing a true three dimensional sound image.Simply put, Ambisionics is a system of recording and playback of sound fields. The model was developed by Gerzon. It used several previous theories of loaclization, and hence was more directional as compared to other systems, resulting in benefits such as reduced listening fatigue, good inter-loudspeaker imaging with reduced susceptibility to the detent effect – the tendency for appare nt source locations to be pulled towards the closest loudspeaker. This later feature improved image stability (Cotterell ch-1 16)Ambisonics is basically a two-part system of recording and playback, which is built upon strong mathematical foundations and theories of human hearing. The term soundfield, mentioned above, is a word used for describing sounds in the environment. It usually implies 3 dimensions. For recording in Ambisonics, an array of microphone capsules are built into one microphone called a Soundfield microphone. This Soundfield mike recording are then processed and encoded into a special format, called B-format, which may be written on and distributed using many different types of media.In the endy, a decoder is used to process and recover the soundfield, This can be played back in many types of listening setup, giving a unique output for every speaker available (Adams 2) As is seen in above, Ambisonics employs a signal set, known as â€Å"B-format†. This is bas ed on the principle of encoding direction, without reference to the loudspeaker layout used for reproduction. This results in Ambisonic systems being adaptable to multiple loudspeaker layouts. Using an Ambisonic decoder, appropriate loudspeaker feed signals can be derived from the transmitted B-format signals.Generally the number of loudspeakers exceeds the number of B-format signals. This is done to obtain good performance from Ambisonic systems, since in the number loudspeakers usually gives better results (Adams 2) It is observed that the Brain can process Soundfield information in several ways. However, much of this processing is seen to rely on the differences between sounds reaching the ears. As an example, if a sound is played to on the right side, because the right ear is closer, it will first receive the sound than the other ear.This is termed as Interaural Time Delay (ITD). Again, in this case the sound would be quieter in the left ear, not only because it is farther away, but because the body and head will absorb some of the sound. This is termed as Interaural Level Difference (ILD). The brain also pays attention to the timing between and relative loudness of sounds coming directly from the source and sounds reflected off of walls and other surfaces. This means that sources that are farther away tend to have more reflected energy than direct energy reaching the ears.These ear-brain interactions are called psychoacoustics (Adams 2). When a Soundfield recording is done, more efforts are made to gather and record as much information about a very small volume of space, as possible. This information comprises of just – measurements of air pressure and air pressure changes. By just adding an omnidirectional microphone to the pair of figure eight units, it is seen that one can capture all this information, with simple low order microphones. The three hree capsules should be acoustically at exactly the same place in the soundfield i.e. , The capsules are arranged to be truly coincident. This becomes even more difficult when theer is an addition of an up-down oriented figure eight capsule in order to record height information.. This problem has been overcome in the Soundfield microphone which uses four small capsules situated on the surface of a notional sphere to sample the incoming sounds (Mallham 12) Building upon recording techniques for stereo developed by Alan Blumlein in the 1930s, Ambisonics extends this recording of information into the third dimension.The idea is to record not only the pressure at a location, but also the pressure changes in different directions – front-back, left-right, and up-down. With proper decoding of this information using mathematics as well as psychoacoustics, a soundfield can be produced by speakers in the room, which reconstructs what was going on in that small volume at the listener's location (Adams 2). In Ambisonics the horizontal figure eight units are mounted front-back and side- to-side rather than at 45 degrees (Adams 2).Basic Ambisonics Technology The Ambisonic surround sound system can be considered as a two part technological solution to the problems of encoding sound directions, and reproducing them over loudspeaker systems in such a way that the listeners ears are under the impression that the sounds they are gearing are from speakers which are correctly located. Technically speaking, this can take place over a 360 degree horizontal only soundstage i. e. pantophonic systems or over the full sphere i. e. periphonic systems (Mallham 14)Ambisonic offers a hierarchy of encoding schemes from a stereo compatible UHJ format (Sinclair 27) There is no need to consider the actual details of the reproduction system when doing the original recording or synthesis Encoding Equations – The position of a sound within a three dimensional soundfield is encoded in the four signals which make up the B format: X = cosA. cosB (front-back) Y = sinA. cosB (left-right) Z = sinB (up-down) W = 0. 707 (pressure signal) Where, A is the anti-clockwise angle from centre front and B is elevation (Mallham 14)B- Format A number of different signal sets may be used at some stage of an Ambisonic system: A-format signals – The output signals of the microphone capsules making up a soundfield microphone. This signal set is not available to the outside world; it is utilised only within the soundfield microphone itself. C-format signal – The signal set which is conveyed to the listener via a recording or transmission medium, when it differs from B-format, is termed C- format. The â€Å"C† is sometimes said to stand for â€Å"consumer†.The C-format signal sets were proposed as part of the initial development of Ambisonics are together known as the UHJ hierarchy (Cotterell Ap-2 16) With Ambisonics, a sound field is decomposed into spherical harmonic components, termed W, X, Y and Z. These are collectively called B-Format (Leese 7). B-fo rmat is based on the principle of encoding direction, without reference to the loudspeaker layout used for reproduction. As a result of this, ambisonic systems are adaptable to multiple loudspeaker layouts; an ambisonic decoder derives appropriate loudspeaker feed signals from the transmitted B-format signals.To obtain good performance from ambisonic systems, the number of loudspeakers should exceed the number of B-format signals used; a further increase in the number of loudspeakers will usually give improved results (Cotterell ch-1 18) B- format signals can also be expressed in terms of derivatives of sound pressure. The nth-order B-format signal set consists of the signals obtained from coincident microphones having polar patterns corresponding to the (n +1) linearly independent spherical harmonics of all orders up to and including n.A signal set of any order can be extended to a higher order merely by augmenting it with additional signals; it is not necessary to change any of th e existing signals. Thus, an nth order soundfield microphone is distinguished by its ability to provide outputs which are the nth-order B-format signal (Cotterell ch-4 1) B-format signal is the primary signal format for Ambisonic use. Ideally, the B-format signals would be communicated directly to the listener.Unfortunately, this has not always been possible – in particular, the need to distribute recordings via two-channel media, retaining compatibility with existing stereo and mono equipment, led to the need for alternative signal formats to be employed (Cotterell Ap-2 16) Enhanced B-Format; BE-, BF- & BEF-Format Enhanced B-format signal sets have been proposed in connection with B-format decoders, which are optimized specifically for use with HDTV, or more generally for use in support of visual media (Cotterell Ap-2 19)The primary motivation is to produce a frontal sound stage which is more stable with respect to movement by the listener, and specifically to lock centre-fr ont acoustic images in place with respect to a screen. Thus, the motivation is substantially the same as for the use of the centre channel in cinema-oriented surround sound formats. Hence, two extra signals are defined, denoted as E and F, which have directional response patterns. (Cotterell Ap-2 16) Ambisonics and Stereo The B format signals are not at all stereo compatible.However, it is possible to combine the three (X,W,Y) components required for horizontal work in such a way that not only is a good stereo compatible two channel system produced but with a suitable decoder much of the original surround sound image can be recovered. This resulting Soundfield is also not perfect, but carefully designing the encoding equations can make it possible to place the defects in areas where the ear is less susceptible (Mallham 10) This encoding method, called UHJ coding, is used to produce stereo compatible Ambisonic records, tapes and broadcasts.The X,Y and W signals are combined in the fo rm of a two-channel compatible stereo signal (Brice 225). This is done using the following equations Left = (0. 0928 + 0. 255j)X + (0. 4699 – 0. 171j)W + (0. 3277)Y Right= (0. 0928 – 0. 255j)X + (0. 4699 + 0. 171j)W – (0. 3277)Y The above decoding equations are such that a decoder for any of the levels will always extract the correct information from high level inputs – in other words the system is upward compatible (Mallham 10) B+ format Another extension of the B-format, mentioned above, was developed by Dr. Thomas Chen.He calls it as â€Å"B+format†. This gives an optional enhancement to the Ambisonics listening experience. Definition B+ format is the standard 4 channels of B format material known as W, X, Y, and Z plus 2 channels of L/R dry stereo recording. This method of recording separates the dry/direct sound from the ambient/room sound in recording and reproduction. Each serves a distinct purpose and is ideally suited to it. (Chen 1) The à ¢â‚¬Å"+† which is seen in B+ Format denotes the presence of a close-miked standard stereo recording simultaneous with a soundfield recording.This is decoded to the front-half of the rig to give the impression that there is a set of stereo speakers on its surface in front of the listener. The angle between them is around 60 degrees (Adams 2) Chen is the inventor of B+ format. This format extends Ambisonic B format with two additional channels. Going by his definition of the format, one can see that, Chen suggested B+ format by combining the 1st order ambisonic B-format with two additional channels L/R dry channel recording (Trond 2) One way to look at this idea is that the format separates the dry signal and ambience.This means that the dry and ambient signal can be dynamically mixed depending on the space used for playback as well as the preferences of the listener (Trond 3) Why use the B+ format Chen considers that the sound system he ahs created, would provide the following feature:. †¢ Ambient – The system would be ambient. This means that the whole acoustic event could be captured and regenerated, such that it manages to give convincing impression to the listener’s ears, which a conventional stereo sound systems doe not. A soundfield must be present on reproduction.†¢ Accurate – The system would be accurate. This means that the direction of the sounds must be exact, as per the specifications or requirements i. e. front-stage, to the sides, above or below, behind. †¢ Sounds would be free from audible distortions of tone, timbre or position. The system must equally suit all types of singers, without any particular voice sounding good or bad. †¢ Scaleable – The system would support the group listening no matter the size of the group, and the same system could be used by an individual without compromising on the sound quality.The scaling factor would be adjustable †¢ Approachable – The system wo uld be easy use without any complications, physical or otherwise, on the behalf of the listener. For e. g. – No head clamps or enforced body positions or forbidden head directions or microscopic sweet spots or compulsory narrow listening seat. †¢ Practical – The system would be easily tailored to suit the ordinary domestic listening environments, at least as good as what conventional a stereo does.†¢ Compatible – The system would be able to satisfactorily replay the recordings of mono and stereo material; while sound recorded using the technology would replay satisfactorily on conventional stereo systems or would be able to readily convert to match them. For example, FM stereo being broadcast as a mono-compatible Sum and Difference rather than directly as a Left and Right signal. (Chen 2) As mentioned above, B+ Format consists of B format ambient-recorded signal plus two channels of L/R direct recorded signal. It is recorded on 6 channels and when repr oduced it is decoded into as many channels as the listeners wishes. (Chen 3)By using the two channels of L/R direct recorded signal , the directional sound clues from the direct signal as well as the sound of the instrument are present only in the front i. e. – instrument setting experience. There is no vertical height information in this pair, which is added to the frontal speaker array (Chen 3) By enabling the ambient and direct information to be stored separately, the listener can choose the balance of direct and ambient information at the time of reproduction. This will allow for many different sized reproduction spaces. The larger space will need less ambient information while the smaller spaces will need more.In addition the listener can choose the amount of preferred ambience (Chen 3) Time, Location and Spatial Representation The direct sound gives the best directional and instrumental timbre information. Hence, the direct sound should arrive earlier than the ambient s ignal. Also, the direct sound doesn't have any spacious or enveloping qualities (Chen 4) The ambient sound best gives spaciousness, spatial depth and envelopment to the reproduction of sound. B format presentation is known to be inaccurate in presenting location and therefore many scientists are trying to improve the reproduction with higher order of B format decoding.Also, first order of B format is considered to be satisfactory for presenting the ambient sound because it is not well localized (Chen 4). Storage Requirements As mentioned in the section above, B+ Format recordings require 6 channels of storage. This can be obtained with either SACD or DVD-A using MLP compression. Chen says that the advantage of using B+ format disks is that one is not limited to the speaker arrangement that the format will dictate but rather a decoder will determine your listening set up or you can set the decoder for your listening set up (Chen 5) Recording Techniques for B+ FormatDirect Recording S tereo Mics – Recording of the direct channel done by conventional means. Can use stereo microphone techniques: X/Y, M/S or OCT. Stored as L/R or M/S. Direct signal should contain little reverberant information. Recorded using direction microphones. Spot Mics – Spot microphones or flanking microphones to balance recorded sound. Need to add ambience to the spot microphones and to flanking microphones. The ambience added should be in B format and added to the B format channel. Multi Track Techniques – Multi-track techniques used to generate the direct signal and to add ambience in B format.B-Format Recording Room Recording – Room ambient recording done with the Soundfield microphone generating a B format output. The location of the Soundfield microphone is typically at the location in the room where the direct and reverberant sounds are equal. B-Format ambience by convolution –This is a digital technique where a room ambience is measured in B format a nd then is impressed upon another signal. B format ambient information can also be obtained with multiple reverberation devices. At least 3 engines are needed to generate B format reverberance, one for each axis (Chen 5)Techniques for Monitoring B+ Format Ideal decoding with 16 channels Decoding of the B+ format is ideally presented as 16 channels. This is arranged as two rings of 8 speakers with 45 degrees of separation between them. From stereo, it is known that the maximum separation between speakers without a hole in the middle is 60 degrees Thus by using an upper and lower ring of eight speakers vertical/height information can be presented. The listener usually presents the L/R stereo on the front speakers without height information.In this case the listener should be able to adjust the balance of dry versus ambient sound. For this Chen has developed decoders for 16, 12, 10 channels of 3D surround or without height as 8, 6, or 5 channels (Chen 6) Decoding in the present control room The listener can use the present control room to work in B+ format. In this case the decoding is done with 60-degree speaker spacing with two rings of 6 speakers. The front up and down speakers will be combined and the present control room speakers will be used for the sum of the front up and down signals.After this listener can use his present console to obtain the L/R stereo mix and use a pair of auxiliary sends to sent to the B format ambience generator (Chen 6) Software for the B+ format Dr Thomas Chen has developed exciting and powerful software for the Creamware Pulsar system, providing multiple, configurable B-format and B+ format decoding, mixing and signal manipulation subsystems. He intends to make this software available commercially, either through Creamware or direct, in the near future.

Femme Fatale Essay Example | Topics and Well Written Essays - 2250 words

Femme Fatale - Essay Example It was a remedy to the conservative society that limited the free expressions of one’s creativity and faith. It is therefore, indirect representations of absolute truths via images and objects, both suggestively and metaphorically. In literature, it started with publications of â€Å"Le fleurs du mal† (flowers of evil )by Charles Baudalaire who also greatly admired and later on translated works of Edgar Allan Poe forming the basis for stock tropes and images. Symbolism was further developed by Stephane Mallarme and Paul Valaine in the 1860’s and 70s. The term ‘symbolism’ was first used by a critic, Jean Moreas , who sought to find a distinction between symbolists and other decadents of literature and art. Symbolism and gothic romantics share a close relation. They both have no limiting techniques of presentation; therefore encourage the ‘free verse’ ideology to encourage creativity and comprehensive representation of one’s thought s and talent as evident in poems of Gustav Khan and Ezra Pound. As a result of this, symbolism became sanctuary to free will and from there; characteristic themes of mysticism, mortality and sexuality came into play which Albert Samain termed as â€Å"fruit of death upon the tree of life† There is symbolism in fine art that though similar in the main fabric as that in literature, is distinct. In visual art, it was a continuation of mystical tendencies in the romantic tradition. Symbolism in visual art was more widely spread that symbolism in poetry. Other areas of applied symbolism are in music, prose fiction and theatre. This research paper looks at the differences in the symbolism in â€Å"Judith† a paint work of Gustav Klimt. Gustav (July 14th 1862- February 6th 1918) was an Austrian painter specializing in paintings, murals and sketches and his main subject was the female human form, a femme de fatale, i.e. a mysterious and highly seductive woman. It compares the G ustav’s painting of Judith with a present day femme fatale. I have chosen Angelina Jolie as my present day seductive and dangerous woman. Anelina is both and actress and a humanitarian ambassador of our current age whose interaction with the world especially with the men both in the theatre and in real life has raised enough eyebrows and had enough men fall victim to her seductive and witty ways. ARTISTS’ REVIEW JUDITH. Judith was a biblical heroine in Venice who seduced and decapitated General Holofernes in an attempt to save her city Bethulia from destruction by the Assyrian army. This accorded her popularity in the Middle Ages onwards as a symbol of virtue overcoming vice. She was a Jewish widow who compromised her virtues for the greater good of her country men. The painting of Judith by Klimt was modeled by Adele Bloch-Baur whose beauty and coquettish aura and sense of fashion were not far fetched from what Judith was. Judith’s sensuality and seduction as s he held up high the head of Holoferns shocked the Vienna inhabitants and for a long time , they could not come into terms with her actions and personality, a no doubt femme fatale who had nothing to hide. Although Judith decapitated Holoferns, she herself in the painting also seems decapitated. She wears clothes that half conceal half expose her body, a gold chocker that clearly separates her head form her body and at the hem of her shirt, though ornamental cuts across her abdomen like a flat belt. This shows some level of slavery within her although she herself saves her city. Judith therefore comes across as a brave woman who stands out from the crowd. She could have ignored the city’s safety and eloped and got sanctuary in a far land, after all, she was widowed and had nothing to lose if she moved. She nust have read the atmosphere of her city men, either they were

Spanish Language in Schools Essay Example | Topics and Well Written Essays - 1000 words

Spanish Language in Schools - Essay Example The first study to track Toronto high school students through Ontario's new four-year curriculum also show that students who speak Spanish, Portuguese or Somali are at higher risk than kids who speak any other of the city's most common languages. And they are more likely to fail Grade 9 math and flunk the Grade 10 literacy test, and are less likely to apply to college or university. (American Renaissance, 21 September 2008). The result of the survey is without a doubt shocking and this is the biggest pitfall which is taking place in many schools around the globe. Once a student drops out, his/her whole life will be affected because of that decision and not all can become Bill Gates even after dropping out. The whole census was taken in order to find out what exactly was the reason of the students not faring well in their exams and the facts which came out were really shocking. The background of the student matters a lot, if a student belongs to Mexico or Portugal and the school authorities have Spanish as a compulsory language in the curriculum, the student would be very disappointed because his background is not apt in learning the language and moreover if he fails to show any improvement, the disappointment will reach a different level and the student will surely think of dropping out. All these things matter a lot to the students; the pressure these days on days in huge and coping with that pressure is not that easy. Spanish should be taught in the schools but it shouldn't be made compulsory because the students in a school will surely be from diverse backgrounds and some other language other than Spanish can be introduced but in that case also it should not be made a compulsion. By learning a language no student can become intelligent and develop as a person, a schools curriculum should have subjects which will develop the overall personality of the s tudent and learning Spanish will certainly not do that. "The purpose of learning Spanish is to communicate with the people who speak the language and to understand their cultures." (Kuala High school, 21 September 2008). Though it can be argued that learning Spanish has many advantages but overall its effects on students is very negative, especially for the students from diverse backgrounds. Spanish is very difficult to learn and the pronunciation is very complicated, the same makes the language very tough to learn. The schools which include Spanish in their curriculum make a big mistake and those schools never take into consideration the students from diverse background, which is the biggest mistake which they make and the same results in the students dropping out from the school and ultimately spoiling their career. The situation should be well understood by the school authorities and it should not continue, the people responsible behind introducing Spanish in the school's curriculum should learn from their mistakes before it's too late . The most important point here is the diversity of students studying in various schools and the immigration policies. There are so many people who travel and settle in different countries and if the native language of that country is included in the curriculum then they will surely be discouraged and will feel like giving up studies forever. So many times it so

Fair trade provides no significant benefits. To what extent do you Essay - 1

Fair trade provides no significant benefits. To what extent do you agree - Essay Example Fair trade is a social movement that aims at helping developing countries to achieve better conditions when trading with others, as well as achieve those goals that promote sustainability within their borders. In this movement, the main aim is to create an advocacy movement that seeks to impose higher prices amongst exporters, as well as ensure that the social and environmental standards are satisfied (Kadey 2005: 1). Dragusanu, Giovannucci and Nunn (2014a: 6-7) note that the settings of the fair trade commissions in the past aimed at dealing with five main attributes that would promote fair trade. The first one is pricing which aim at guarantee a minimum price for all goods in addition to a fair trade premium on all products sold. The prices and the premiums will be set separately, but with the producer in mind. The second is the aspect of the workers who must be free to associate with others, have safe working conditions, and wages that befit their legal minimum stated in the policies present. Regional balances will be drawn to ensure uniformity across a particular region. The third is the institutional structure where farmers need to create cooperatives that will make decisions democratically and transparently to effectively export products and administer premium aid. The premiums paid to the cooperatives will be accounted for by the administrators. The fourth attribute deals with the environm ent where harmful chemicals to the environment will be prohibited. This is to safeguard the environment and ensure good environmental practices remain etched into the farming management practices always. The last attribute deals with stability and access to credit where buyers may agree on long-term contracts and provide financial aid to promote producers when requested. In most cases, the people are aware of the impact that better trading options have on

Principles of Finance 1 Term Paper Example | Topics and Well Written Essays - 500 words

Principles of Finance 1 - Term Paper Example The risk and return of the proposed investment project requires a study of the project’s cash flows. To analyze the profitability of the investment project, one method that may be done is to make use of the net present value (NPV) method. NPV is the difference between the present value of cash inflows and the present value of cash outflows. A positive NPV means that the project is acceptable while a negative NPV means that the project is not profitable. Once a decision has been reached to undergo the project, the next step is to determine the sources of financing and establish the appropriate financing mix. Here lies the decision on whether to use debt or equity to maximize the value of the investment. Also, the source of financing should match the nature of the asset being financed. If a decision is made to finance the project through debt, it must also be determined whether it will be a long-term debt or a short-term debt. Long-term debt can be a term loan with a bank or a b ond issuance. A bond is like a loan because it is also a debt instrument. It is issued for a period of more than a year with the purpose of raising capital for borrowing. Its difference from a term loan is that it is generally offered to the public rather than to a single lender or a small group of lenders.

Arbitration and Law Essay Example | Topics and Well Written Essays - 3250 words

Arbitration and Law - Essay Example The problem, however, is that even when arbitration takes place, the disputing parties will continue to engage the problem through additional courts in order to come to the best possible resolution for their interests. The following essay discusses the issues of arbitration, first by engaging the question of disputes in arbitration and the consequences to the courts, then through the exploration of a case study, and then finally through undergoing an investigation of the events within the case study. Privity of Contract Privity, in legal terms, refers to a relationship that develops between parties in regard to the property, promises or warranties of a contract. The privity of contract concept is to ensure that only parties that are involved in a contract are actually part of the entirety of the process and included in all subsequent actions. Disputes concerning the privity of contract result from engaging the contract for who is able to participate in the process. The limitation of privity prevents a great many lawsuits by those who believe they have been affected by the actions of a party, but who is not directly a part of the contract and are not able to create liability claims because they are not a part of the contract.1 Horizontal and Vertical Privity Horizontal privity occurs when a third party is the recipient of an item. When an item or benefit in question is intended for a third party, then horizontal privity is in place. Vertical privity occurs when an independent contract is in place with one of the parties of a contract between two parties. If A has a contract with B and B has a contract with C, vertical privity is in place between A and C. The consumer rarely has any rights in terms of privity. The laws in regard to consumers was revised in the Contract Act of 1999 in which the Rights of Third Parties were addressed so that â€Å"...a third party may not enforce a contractual provision, either if the contract contains an express term to that effe ct, of if it purports to confer a benefit upon him†.2 The problem with consumer relationships to the process is that there is no implied position within the contract for the consumer. Arbitration Arbitration is the process by which two parties enter into an agreement to choose privately defined proceedings in which to settle their differences. The arbitration process is internationally recognized as a resource through which disputes between internationally represented businesses can find resolutions without clogging court systems and without disputes about jurisdiction in regard to nation.3 Disputes are defined by any disagreement that occurs during the process of the contract relationship. Disputes are more often handled by arbitration that has been defined within a contract. According to Harris, Planterose, and Tecks, â€Å"This will distinguish the procedure, the application of any statute and the finality of the intended process from other options, such as a decision by a ny expert of adjudication†

Public Affairs and relgious beliefs Research Paper

Public Affairs and relgious beliefs - Research Paper Example ever, there are a number of other smaller religions that are formed as a result of differences of beliefs concerning the doctrine of the major religions and thus, a sect of people break away from the main religion to start their small religion. Basically, religious beliefs are founded on faith of certain doctrines as taught by the respective religions so the believers of those doctrines are supposed to believe the teachings as they are without much questioning. For instance, religion has greatly contributed to the spread of HIV and AIDS. Some religions for example Catholics discourage the use of condoms hence its follows can engage in unsafe sex contributing to the spread of the pandemic (Apostolidis & Juliet, 2004). Also some of the Africa beliefs provided for the use of one surgical instrument when performing circumcision hence a risk in the spread of HIV and AIDS. Christian teachings tend to brain wash people into a certain school of thought in whom they cannot easily get themselves out of since they are bond by doctrines which they are supposed to follow to the letter without questioning their legitimacy or logic (Apostolidis & Juliet, 2004). Religion is a major impediment when it comes to solving social affairs in the public arena. For instance, politicians who are majorly the policy makers in countries will be limited to the scope of issues they will discuss and polices that will be formulated since is one is strongly affiliated to a certain religion the doctrines to that religion will in most of the time coincide with the policies being formulated thus, creating a deadlock of whether to adhere to religious teachings and doctrine or formulate polices that are against the religious teachings but for the common good of the general public. The utilitarian theory advocates for something to be regarded as ethically correct it has to be done so that benefit is for the greatest number of people. Thus, religion should not act as opium that impedes service delivery

Assignment 12(775) Essay Example | Topics and Well Written Essays - 500 words

Assignment 12(775) - Essay Example pproach employed in selecting a school for the research where he also describes how they consulted the proposal as well as informing the school community (Bello, 2006). During the negotiation and consultations, he had a special focus on matters they had more attention on. He then concludes with distribution of written materials hence closing the negotiations coinciding with this phase. He then comes up with an appraisal of this process and makes up questions that will ease the growth not only on the initial phase but also the following studies (Bello, 2006). However, each piece of research has different conditions surrounding it so these conditions are what determine the way a research will occur. A research project started by the author and his lecturer in March 2000 by having a collaborative action research project running in a school in order to establish the influence it had on teachers’ professional development. Despite the problems bound to experience, they had to make this collaboration happen by taking advantage of the knowledge and time they had to obtain an advantage by working in collaboration (Bello, 2006). With participants in this research having different points of view, it can lead to acquisition of more knowledge as well as useful skills when commencing other studies, whether separately or in collaboration. In picking a school for their research they followed the criteria same as Stake’s criteria, which focused on schools that offer many opportunities in enquiring new knowledge. For instance, the school they picked located in Spain because teachers valued teamwork, family participation was encouraged, and it depended on local administration for management (Bello, 2006). Reflecting these processes will come in handy as it helps us understand how the action research is important in enhancing learning, making up collaborating cultures within institutions, as well as reducing the gap between theory and practice (Bello, 2006). It promoted

Expository essay Essay Example for Free

Expository essay Essay Expository writing is a life skill. More than any other type of writing, expository writing is a daily requirement of most careers. Understanding and following the proven steps of the writing process helps all writers, including students, master the expository essay. Expository Essay Structure Usually, the expository essay is composed of five paragraphs. The introductory paragraph contains the thesis or main idea. The next three paragraphs, or body of the essay, provide details in support of the thesis. The concluding paragraph restates the main idea and ties together the major points of essay. Here are expository essay tips for each part of the essay structure and writing process: 1. Prewriting for the Expository Essay In the prewriting phase of writing an expository essay, students should take time to brainstorm about the topic and main idea. Next, do research and take notes. Create an outline showing the information to be presented in each paragraph, organized in a logical sequence. 2. Drafting the Expository Essay When creating the initial draft of an expository essay, consider the following suggestions: The most important sentence in the introductory paragraph is the topic sentence, which states the thesis or main idea of the essay. The thesis should be clearly stated without giving an opinion or taking a position. A good thesis is well defined, with a manageable scope that can be adequately addressed within a five-paragraph essay. Each of the three body paragraphs should cover a separate point that develops the essay’s thesis. The sentences of each paragraph should offer facts and examples in support of the paragraph’s topic. The concluding paragraph should reinforce the thesis and the main supporting ideas. Do not introduce new material in the conclusion. Since an expository essay discusses an event, situation, or the views of others, and not a personal experience, students should write in the third person (â€Å"he,† â€Å"she,† or â€Å"it†), and avoid â€Å"I† or â€Å"you† sentences. 3. Revising the Expository Essay In the revision phase, students review, modify, and reorganize their work with the goal of making it the best it can be. Keep these considerations in mind: Does the essay give an unbiased analysis that unfolds logically, using relevant facts and examples? Has the information been clearly and effectively communicated to the reader? Watch out for â€Å"paragraph sprawl,† which occurs when the writer loses focus and veers from the topic by introducing unnecessary details. Is the sentence structure varied? Is the word choice precise? Do the transitions between sentences and paragraphs help the reader’s understanding? Does the concluding paragraph communicate the value and meaning of the thesis and key supporting ideas? If the essay is still missing the mark, take another look at the topic sentence. A solid thesis statement leads to a solid essay. Once the thesis works, the rest of the essay falls into place more easily. 4. Editing the Expository Essay Next, proofread and correct errors in grammar and mechanics, and edit to improve style and clarity. While an expository essay should be clear and concise, it can also be lively and engaging. Having a friend read the essay helps writers edit with a fresh perspective. 5. Publishing the Expository Essay Sharing an expository essay with the rest of the class can be both exciting and intimidating. Remember, there isn’t a writer on earth who isn’t sensitive about his or her own work. The important thing is to learn from the experience and use the feedback to make the next essay better. Essay Variations Essay writing is a huge part of a education today. Most students must learn to write various kinds of essays during their academic careers, including different types of expository essay writing: Definition essays explain the meaning of a word, term, or concept. The topic can be a concrete subject such as an animal or tree, or it can be an abstract term, such as freedom or love. This type of essay should discuss the word’s denotation (literal or dictionary definition), as well as its connotation or the associations that a word usually brings to mind. Classification essays break down a broad subject or idea into categories and groups. The writer organizes the essay by starting with the most general category and then defines and gives examples of each specific classification. Compare and contrast essays describe the similarities and differences between two or more people, places, or things. Comparison tells how things are alike and contrast shows how they are different. Cause and effect essays explain how things affect each other and depend on each other. The writer identifies a clear relationship between two subjects, focusing on why things happen (causes) and/or what happens as a result (effects). â€Å"How to† essays, sometimes called process essays, explain a procedure, step-by-step process, or how to do something with the goal of instructing the reader.

Regulatory Responses to Short Selling

Regulatory Responses to Short Selling Abstract It is commonly believed that secondary market prices is not just a sideshow because they contain information that facilitates the efficient allocation of resources. The feedback loop to a real investment decisions allows a short seller to make a profit even in the absence of a fundamental information. This paper analyzes the regulation of manipulative short selling is to impose a cost on short sales. Through setting the short selling cost at an appropriate level, regulators may be able to drive the uninformed speculator, but not the negatively informed speculator, out of the market, and, thus improve the investment efficiency. One of the most fundamental roles of prices is to facilitate the efficient allocation of scarce resouces (Hayek, 1945). A financial market is a place where many speculators with different pieces of infomation meet to trade, attempting to profit from their information. Prices aggregate there diverse pieces of information and ultimately reflect an accurate assessment of firm value. Real decision makers (such as managers, capital providers, directors, customers, regulators, employees, etc.) will learn from this information and use it to guide their decisions, in turn affecting firm cash flows and values (Baumol 1965). In an efficient market, at any point in time market prices of securities provide accurate signals for resource allocation; that is, firms can make production-investment decisions according to stock price (Fama Miller 1972). Unlike the traditional models where prices only reflect expected cash flows, in the new models that incorporate feedback effect prices both affect and reflect firm cash flow. The feedback effect can explain this by two ways, several papers in the literature generate related implication based on models with exogenous feedback, i.e., where firm value or firms investment decison is assumed to be mechanically tied to the price (Khanna Sonti 2004 and Ozdenoren Yuan 2008). However, our focus here is on models that exhibit endogenous feedback, i.e, via learning or incentives. The latter one is through which financail markets may have real effects is by affecting a decision makers incentives to take real decisions, this is most relevant for firm managers, whose compensation is tied to the firms share price, in some sense is a way to discourage â€Å"agency problem†. Particularly, the former one is what we interested here, real decision makers learn from stock price and use it to aff ect real decision. The theoretical research on financial markets traditionally treats the real side of the firm as exogenous. Milgrom Stokey (1982) consider that if cash flows are exogenous, the only way to generate trade is to introduce noise traders in the model. Grossman Stiglitz (1980); Hellwig (1980) developed rational expectations equilibrium models of financial market, in which prices preform a well-articulated role in conveying information from the informed to the uninformed. Kyle (1985) developed a model that is closer to a game-theoretic approch, where the equilibrium concept is similar to the Bayesian-Nash Equilibrium, the information of speculator gets partially reflected in the stock price. However, Fishman Hagerty (1992); Leland (1992); Khanna, Slezak Bradley (1994); and Bernhardt, Hollifield Hughson (1995) present models where different types of speculators-insiders and outsiders-trade on their information, in these models, real decison makers learn from price, but, there is a confl ict between limiting insider trading reduces price efficiency and encouraging outsider trading reduces adverse selection. Similarly, Boot Thakor (1997) and Subrahmanyam Titman (1999) use the feedback effect to rationalize a firms choice to issue publicly traded securities, rather than receving private financing (e.g., from a bank). The traditional view of financial market is stock price has no real effect, thus speculator cannot manipulate stock price to get profit. It is often hard to generate manipulation as an equilibrium phenomennon, given that price impact will cause a manpulator to sell at a low price and buy at a high price and hence lose money overall (Jarrow 1992). Goldstein Guembel (2008) consider a model where the manager of firm learns from the stock price about the profitability of an investment project, thus, manipulation arise as an equilibrium phenomenon. Even the speculator has no information, she can drriven the price down to make the manager belive that there exist negative information, and led to cancel the investment, thus, she can get profit from her short position. Edmans, Goldstein Jiang (2014) extent their model to show that informed speculators are less likely to trade on bad news rather than good news. Consider a speculator who has negative information, if she short sell to lower th e stock price, the manager will learn from it to take corrective action such as reducing investment, downsizing the firm makes it efficient and improve the firms fundamental value, but this reducing the profitability of speculators short position. Thus, the informed speculator must consider this and refrain her short selling in the first place. The feedback effect has also some empirical supports. Luo (2005) show the companies seem to learn from the market during MA. Companies are more likely to learn in pre-agreement deals than in agreement deals. Companies are more likely to learn in non-high-tech deals than in high-tech deals. Smaller bidders are more likely to learn than are larger bidders. Kau, Linck Rubin (2008) extend his analysis and show that such learning is more likely when governance mechanisms are in place to reduce the agency problem between manager and the shareholders. Chen, Goldstein Jiang (2007) show that the sensitivity of investment to price is stronger when there is more private information incorporate into price. Our paper is continue the research question raised by Goldstein Guembel (2008), they provid an asymmetric model to explaine the uninformed speculator can manipulate the stock price to make profit and they suggest by impose a cost on short sales may eliminate this phenomenon, but they didnt anaysis the impact of short selling cost. Conditional the speculator being uninformed, the speculator can make profit for two reasons. First, he knows that the market will not improve the allocation of resources. Thus, he can sell at a price that is higher than the expected value. Second, the speculator can profit by establishing a short position in the stock and subsequently driving down the firms stock price by further short sales. In our analysis of short selling cost can deter the second sources of the uninformed speculators profit. The remainder of the paper is structured as follows. Section 2 gives a brief summary of regulatory response to short selling during the financial crises of 2007-2009 and the European sovereign debt crisis of 2011. Section 3 present the model set-up. Section 4 we derive the benchmark equilibrium when absent the feedback. Section 5 derive the equilibrium when the feedback present. Section 6 concludes. All proofs are in the Appendix. 2 Recent regulatory response to short selling As a result of the financial market turmoil in 2008, the SEC and a number of international financial market regulators put in effect a number of new rules regarding short selling. In July the SEC issued an emergency order banning so-called â€Å"naked† short sellingIn a naked short-sale transaction, the short seller does not borrow the share before entering the short position. In our model, we can consider the short selling cost is zero is a naked short-sale. in the securities of Fannie Mae, Freddie Mac, and primary dealers at commercial and investment banks. In total 18 stocks were included in the ban, which took effect on Monday July 21 and was in effect until August 12. On September 19 2008, the SEC banned all short selling of stocks of financial companies. This much broader ban initially included a total of 799 firms, and more firms were added to this list over time. In a statement regarding the ban, SEC Chairman Christopher Cox said, â€Å"The Commission is committed to using every weapon in its arsenal to combat market manipulation that threatens investors and capital markets. The emergency order temporarily banning short selling of financial stocks will restore equilibrium to markets. This action, which would not be necessary in a well-functioning market, is temporary in nature and part of the comprehensive set of steps being taken by the Federal Reserve, the Treasury, and the Congress.† This broad ban of all short selling in financial institutions was initially set to expire on October 2, but was extended until Wednesday October 9, i.e., three days after the emergency legislation (the bailout package) was passed. In addition to measures taken by the SEC, a number of international financial regulators also acted in response to short selling. On September 21 2008, Australia temporarily banned all forms of short selling, with only market makers in options markets allowed to take covered short positions to hedge. In Great Britain, the Financial Services Authority (FSA) enacted a moratorium on short selling of 29 financial institutions from September 18 2008 until January 16 2009. Also Germany, Ireland, Switzerland and Canada banned short selling of some financial stocks, while France, the Netherlands and Belgium banned naked short selling of financial companies. International restrictions on short selling of financial stocks reappeared in 2011. In August of 2011, market regulators in France, Spain, Italy and Belgium imposed temporary restrictions on the short selling of certain financial stocks as European banks came under increasing pressure as part of the sovereign debt crisis in Europe. For example, both Spain and Italy imposed a temporary bans on new short positions, or increases in existing short positions, for a number of financial shares. France temporarily restricted short selling for 11 companies, including Axa, BNP Paribas and Credit Agricole. On August 26, France, Italy and Spain extended their temporary bans on short selling until at least the end of September. Of course, measures against short selling are not exclusive to these recent episodes. In response to the market crash of 1929, the SEC enacted the uptick rule, which restricts traders from selling short on a downtick. In 1940, legislation was passed that banned mutual funds from short selling. Both of these restriction were in effect until 2007. Going back even further in time, the UK banned short selling in the 1630s in response to the Dutch tulip mania. We revisit the model in Goldstein Guembel (2008). Consider an economy with four dates tin{0,1,2,3} and a firm whose stock is traded in the financial market. The firms manager needs to take an investment decision. In t=0 , a risk-neutral speculator may learn private information about the state of the world omega that determines the profitability of the firms investment opportunity. Trading in the financial market occurs in t=1 and t=2. The speculator may suffers a short selling cost c;(c>0) when he short sales. In addition to the speculator, two other types of agents participate in the financial market: noise traders whose trades are unrelated to the realization of omega and a risk-neutral market maker. The latter collects the orders from the speculator and the noise traders and sets a price at which he executes the order out of his inventory. The information of the speculator may get reflected in the price via the trading process. In t=3, the managers takes the investment decision, which may be affected by the stock price realizations. Finally, all uncertainty is realized and pay-offs are made. Suppose that the firm has an investment opportunity that requires a fixed investment at the amount of K. There are two possible states omegain{l,h} that occur with equal probabilities. Firm valueTo simplifier the model, we do not include the assets in place in the expressions for the value of the firm, even including it will not affect our analysis. can be expressed as a function V(omega,k) of the underlying state omega and the investment decision kin{0,K}: There is one speculator in the model. In t=0, with probability alpha, the speculator receives a perfectly informative private signal sin{l,h} regarding the state of the world omega. With probability 1-alpha he receives no signal, which we denote as s=phi. There are two trading dates : t=1,2. In each trading date, the speculator submits orders u_{t}in{-1,0,1} to a market maker. There is a exogenous noise trader who submits orders n_{t}={-1,0,1} with equal probabilities. The market maker only observes total order flow Q_{t}=n_{t}+u_{t}, and therefore possible order flows are Q_{t}={-2,-1,0,1,2}. Moreover, it is assumed that a market maker faces Bertrand competition and thus sets the price for an asset equal to its expected value, given his information set: p_{1}(Q_{1})=E[Vmid Q_{1}] and p_{2}(Q_{1},Q_{2})=E[Vmid Q_{1},Q_{2}]. In our model, the price is a function of total order flows, thus, to ease the exposition, we assume that the speculator observes Q_{1}, and therefore can directly condition his t=2 trade on Q_{1} instead of p_{1}. Similarly, the firm manager observes Q_{1} and Q_{2} , and may use them in his investment decision. The equilibrium concept we use is the Perfect Bayesian Nash equilibrium. Here, it is defined as follows: †¢ A trading strategy by the speculator {u_{1}(s) and {u_{2}(s,Q_{1},u_{1})} that maximizes his expected pay-off, given the price-setting rule, the strategy of the manager, and the information he has at the time he makes the trade; †¢ An investment strategy by the firm that maximizes expected firm value given all other strategies; †¢ A price-setting strategy by the market maker {p_{1}(Q_{1}) and p_{2}(Q_{1},Q_{2})} that allows him to break even in expectation, given all other strategies; †¢ The firm and the market maker use Bayes rule in order to update their beliefs from the orders they observe in the financial market; †¢ All agents have rational expectations in the sense that each players belief about the other players strategies is correct in equilibrium. As a benchmark, we consider in this section there is no feedback from the financial market to the firms investment decision. We assume the firm manager known well the state of the world, and, thus, the investment decision in t=3 is not affect by the trading outcomes in the financial market in t=1 and t=2. For the speculator, if s=h , he knows that the firms value is V^{+}; if s=l, he knows that the firm value is 0; and if s=phi, he knows the expected firm value is frac{V^{+}}{2} . The market maker also starts with the expectation that the firm value is frac{V^{+}}{2} and updates this expectation after each round of trade. There exists multiple equilibria with no-feedback game when we impose the short selling cost c in t=1. Because there is no feedback and from the proof of Proposition 1., the short selling cost only affect to negatively informed speculator, in order to simplifier the model, we dont impose short selling cost at t=2 . If we impose short selling cost at t=2, we must distinguish not trade or sells in t=1 and buy in t=1 (see the feedback game). . For brevity, we do not develop a particular equilibrium here. The following lemma characterizes the strategy of the positively informed speculator in any equilibrium of the no-feedback game. Building on this lemma, the next proposition establishes an important result regarding the strategy of negatively informed speculator and uninformed speculator, which is the focus of this paper. The trading strategy is rather intuitive. The short selling cost does not affect positively informed speculators trading behavior, since he know the firm value is V^{+} and the firm manager does not learn any information from the stock prices, thus, it is a game only between speculator and the market maker, in the case his information was not revealed to the market maker, the positively speculator will not choose sells in t=1 and t=2. For the positively informed speculator, the only thing is try to hide his information to the market maker, otherwise, the price will equal to the true value of the firm V^{+} and he makes zero profit. The trading strategies are also rather intuitive. For the uninformed speculator, trading in t=1 without information generates losses because buying (selling) pushes the price up (down), so that the expected price is higher (lower) than the unconditional expected firm value. The uninformed speculator does not have the informational advantage over the market maker in t=1, and thus cannot make a profit if he is trading. He may choose trade in t=2 when the market maker set the price is not equal frac{V^{+}}{2}, in this case, he have the informational advantage, he knows each agents trading orders in t=1 and his own trading order in t=2. For the negatively informed speculator, if short selling cost is not too high, he may choose mixes the trading strategies like positively informed speculator in order to hide his information to the market maker; if the short selling cost is too high, he always get negative transaction profit in t=1, in this case, he would like not trade in t=1. In the no-feedback game, the short selling cost actually does not affect the trading behavior of the positively informed speculator and the uninformed speculator, it can only affect to the negatively informed speculator. It is worth noting that in the next section with feedback , the short selling cost will affect not only the negatively informed speculator, but also the uninformed speculator.

America At War: The World Is Not Enough :: essays research papers

When a person is given the microphone at a podium, the attention of the audience is customarily afforded to that person so that they may convey their message(s) clearly. In the past fifty years, advancements in technology and the ability to transmit information have transformed the world into a global stage for any individual or group who wish to broadcast their agendas. The more modernized and stable countries, namely western European nations and the United States of America, have a strangle hold on the microphone to this global stage and are reluctant to release it. The major problems inherent in the effort to emphasize global instead of discreet national histories of mass communication rest within the mentalities of these western powers. A country, like America, whose mindset fosters ideals such as media imperialism, capitalism, and cultural dominance will have supreme reign in a society that can be easily influenced by the various tools of the media. With the exception of the Persian Gulf War in the early 90’s, the Vietnam War is the last major conflict that the Unites States has been involved in. After the breakup of the Soviet Union, which effectively ended the Cold War and automatically allowed America to become the front running nuclear power, the U.S. needed a new objective to conquer other than communism. Since the U.S. armed forces cannot thoroughly flex its military muscles in the absence of a war, an acceptable alternative is to inundate other developing countries with the thoughts of â€Å"democracy and freedom† through the media. However, the validity of America’s true intentions are often questioned when it begins to preach that all humans are entitled to have the freedom of choice. What exactly, do these freedoms entail? Normally, for American businesses and industries, this suggests that people are free to choose to consume American made goods and products. Although it may have been inadvertent at first, an imperial power such as America will expand in its blundering efforts to do good or protect its borders (Herman 1992). After a certain amount of time, this expansion is no longer by chance but by purpose because those who control the channels of media begin to promote imperialistic views, which eventually lead to the domination of a market, be it newspaper, radio, or television. The American dominance in the television market for example, can be aptly characterized by a silly show about lifeguards working on a Los Angeles beach.

The Techniques of Advertising Essay -- Advertisements Media Essays

The Techniques of Advertising Advertisings are created to make us buy things. All the companies want to sell their products, because they want to make profit. When a company knows that a product that it manufactures is not very good they do not share that with their customers. On the contrary, they make a very impressive advertising for the product, because all they want is to sell it. Everyone knows that advertising a product is not really done because the product is just wonderful and everyone should know about it. Companies sure do care about their customers and they want these customers to come back and buy more. They care about that because they want to make profit, not because they want their customers’ hair to be dandruff free, nor because they want their customers to be slim, nor because they want their customers to smell good. They do it for the profit. You know it. They know it. Everyone knows it. The best way to sell a product is to advertise it and let everyone know how wonderful this product i s and how much better your life will be if you use it. A type of techniques that advertisers use is making us believe that their product is just what we have always wanted, another type is using our fears or weaknesses and another one is using famous people and role models that tell us what they use in order to be so popular and good-looking. How do advertisers know what I want? A Burger King commercial says:†Ã¢â‚¬ ¦chicken, just how you like it†. There is no way that everyone likes their chicken the same way. If one million people are watching this commercial there is no way that this is exactly how everyone likes his chicken. The advertisement says it though, and if you do not pay attention and you do not dig under the surface ... ...rd of before, no matter whether it is the greatest or the worst thing in stores. People have their fears and their weaknesses. No one is perfect. That is why it is so easy to play with people’s minds and intentionally make them think about products and make them want to have and use these products. Advertising has been around for a long time and people that create commercials know a lot about those fears and weaknesses and even desire and dreams that the regular people have. So they use them in order to be profitable and in order to sell their products. Every business is really competitive in current times so the company that manages to attract more customers will be the most profitable and most successful. That is why these companies have to use all the possible methods and all the techniques that they can think of. The more creative and unique they are the better.

Fiction Vs. Non-Fiction Essay

Literary form of writing is held to be exemplary because it is noticed due to its imaginary nature while others less straightforward forms try to cover their fictionality. The logic here is antirealist, skeptical and pragmatist. A complex case for this line of consideration might run as follows. At first a more or less common stand is set up starting with uncomplicated design of fiction, in both its description and object senses. According to this suggestion a patent divide subsists between imaginative literature, when defined in expressions of fiction creation and other conversations whose intention is not creation but description. Imaginative literature builds imaginary worlds which, although no doubt drawn from features of the existent world, are nonetheless explicitly constructs of the brain. The non-fiction, more ‘serious’ literature is not concerned with imaginary units but with the actual thing. They are evaluated not in terms of imagination but in terms of reality or association with the reality. Fiction versus fact becomes the crucial characteristic that marks off imaginative literature (Lamarque & Olsen 172). Despite there being multiple literary ‘genres’ it appears a bit odd that writing is essentially separated into just two large categories: non-fiction and fiction. Contemporary writers sometimes get a bit of information from each of these groups and form â€Å"historical science fiction† or â€Å"historical fiction† (Heller, 123). Works cited Heller, Clark Von. ESL Doxography 101. West Conshohocken: Buy Books on the web, 2006. Lamarque, Peter, Olsen, Stein Haugom. Truth, fiction, and literature: a philosophical perspective. New York:   Oxford University Press, 1996

College Essay: Loosing School Essay

â€Å"If you don’t want to take school seriously, then I guess I’ll look forward to seeing you working your shift at McDonald’s when I stop by for the fries†. This is what my mom told me when I was an eighth grader. My parents are very accomplished people; my mother is a registered nurse and my father is a lawyer. So her words cut deep and hit me where it hurt. Why was she telling me this? Because I deserved every bit of it. I was at a point in my life when I was very immature. I was a bad egg, a wannabe â€Å"cool kid†, and a class clown. I used to be a small kid, but I grew taller way before others in my own age group. So after a while, my self-esteem rose back to its normal height and I became used to being the biggest kid in my class. This followed me all through middle school. When I was an eighth grader, I took advantage of this and used the size of my body to inflict fear in other students. Not only did I utilize my height as a fear factor, but also I imposed dread with the people I hung around. I was what is described as a â€Å"tomboy†, and I was friends with guys that I would use as threats to get what I desired from others. I was a bully. My school was quite loose with the bullying policy, so every time I got in trouble, I would weasel myself out of the situation by getting my friends to bear false witness to my fabricated stories. By the middle of the school year, it seemed like I was more feared than adored by most of my fellow students. This should have sickened me, but instead it gave me a twisted sense of pride. The school district was ready to suspend me. Not only was I making my fellow classmates uncomfortable, but it was now affecting my academics. And ever since I first learned the meaning of the word â€Å"important†, my parents have hounded into my head that academics are crucial to my future; academics determine your future existence. What kind of reputation was I leaving for the Michaels family name? As soon as I would leave middle school and enter high school, my brother would be entering middle school. He didn’t deserve to cross the threshold of elementary to middle school with a bad reputation waiting for him. On the days I was in a better mood, I would let my poor friend choice control me and I would walk around with my â€Å"friends† and skip class. Even  when I did go to class, I would show up to class late. I lived fairly far from school, so I had to take the bus to school. Both of my parents worked early; by the time I had to wake up for school, they were on their way out and headed to work. This meant that if I chose not to go to school I could stay home. Even if I was late and missed the bus, I had no way to get to school. Now, not only did I have a chance of getting suspended or even expelled for bullying, but also because of my poor attendance. And because I was rarely in class, my grades were suffering, lowering my GPA and almost making it harder to graduate and move on into high school. And this was quite ironic, considering that I had always been known as a bright child before this charade began. With all the stress of strenuous work and a full schedule, my father now also had to worry about what was going on with me. And it was safe to say that I had always been what is known as a â€Å"daddy’s girl†, so this extremely discomforted him. He was constantly receiving phone calls from school teachers and counselors, constantly having to take days off of work to have parent/teacher meetings. All of this was driving my father insane, emotional-wise. He was at a breaking point. It was only after he told me that if I was going to waste his time and so much of his feelings going to school only to act insubordinate, then I should at least have the decency to tell him forthrightly. He went back to school as a middle-aged man to pursue his dream of being a lawyer because when he was younger he did not have the opportunity. My father is essentially a walking illustration of the American Dream, and I cannot believe that at that point in time I could not see that. It was these words that put me in a very doleful state of mind. After that talk from my father, I actually took the time to sit down and evaluate the things I was doing and how they were going to affect me and the family I love. It was the summer before my first year of high school that I broke down and did nothing but cried. Cried because of the position I put my parents in, the way I made them look, the way I made them feel. Cried because my parents abandoned the life they had in their native land to migrate to this beautiful country, to strive for the American dream. My dad left his family at the age of 22 and my mother at age 19 and they endured  the many turn-downs they got while trying to obtain a visa. They arrived in a place thousands of miles from home, where the language was foreign, the money was different and the people were prejudiced. He was often put down because of the color of his skin, but he was determined to start a life in the U.S. and determined to give his kids the life he never had. And here I was, throwing it all away because of my negligence and my immaturity. I could not live with myself knowing I was discounting my parents’ struggles, all of their hopes and dreams. From that point on, I made it my goal to never make my parents go through something like that ever again. To this day I can say that I have been true to my word. Everything about me has been a complete 180 degrees from the person I was in middle school. The people I call my friends, the way I think, and even the way I dress have changed. They now reflect the person I am today: all of my hopes and achievements.

Seal Team Six Memoirs of an Elite Navy Seal Sniper

The hiss Is that not everybody Is born to be a seal and If you are treated Like the author you will not have any better chances. The author Is very descriptive In the way he presents stones. One of his stories Involves him on a Nilsson to shoot a target from 500 yards away. The Reader feels Like they are standing over him as he talks about what Is going on around him. Even the way he describes what Is happening to the gun in the story is amazing. The author also is great at narrating, he adds in essential details to make all of the stories sound real and if an average reader wouldn't understand something it is explained short and sweetly.At the end of all of the stories the author makes a point to say that the missions and becoming a Navy Seal is hard and not recommended. In my mind the book was very interesting. Some parts most readers could have dealt with less detail such as his abusive childhood. The book was extremely accurate coming from a Navy Seals point of view. All of the m issions most readers have heard about have more details that the news couldn't tell you. To me the book was very important, I like to know what how someone could o through something like becoming a Navy Seal and how they survive.Every detail was important to the story because if the author didn't say what was said then the book could have been completely different. The author's arguments are very well said and I believe to be true. The reason is reading about everything he has gone though could not be repeated and ever come with the same result. He states very clearly in chapters about his childhood that beating your child will not make them a Navy Seal, So Don't Do It. Also it takes more mental strength to become a Navy Seal than hysterical strength.He says that in BUD's training he had seen the most physically strong bodies and the men who had them didn't last a week. This Is because of all the mind games that go on inside their heads. Mental strength Is what makes a Seal. This bo ok was very eye opening to what Is going on In the world around me. Some of the Issues are very interesting and I now know things I wouldn't have without reading this book. The author talks about many missions but the one I remember hearing about on the news was when the Somali pirates took over a ship and snipers shot all here of them.I had no Idea what went on behind the scenes of the mission. Like I TLD know that at night seals went Into the water or that the reason the boat was towed was because we offered to get the Somali pirates out of choppy water. I enjoyed learning about the different missions and how they were carried out. My opinion of the book is that it was well organized and I couldn't put the stories any toner way. I en cover AT ten KICK Is very appealing, It NAS an American Hag Ana Is very colorful. The layout of the book is superb. All of the stories are in the correct lace to make you want to keep reading.The only thing I would change is in the beginning of the bo ok there are a lot of intro pages and at the end of the book there is an unnecessary glossary. Considering everything, I enjoyed the book. I thought it was very interesting and fun to read. Some parts could have had less information (his childhood). Books like Seal Team Six are my favorite type of book. I enjoy the action and how the author makes you feel as if you are looking over his shoulder and can see and feel everything he does. I would suggest others read this book.

Bower’s Network Theory and its Link in Depression and Anxiety

Bower's (1981, 1991) influential network theory assumed that mood states automatically activate all associated representations in memory. Bower (1981) suggested that the approach to the development of this theory is considering humans as biological machines endowed with a cognitive system (for acquiring and using knowledge), and to ask what role motives and emotions should play in such a system. Bower (1981) suggested that mood can be represented as a node, or unit, within an associative network model of memory.Within such a network, a particular mood may become linked or associated with events that occur during one's life when the mood was experienced. Given these relations, when someone is in a happy mood they may be more likely to retrieve and become consciously aware of events that occurred at a previous time when the happy mood was experienced. Bower (1981) referred to this as mood-state dependent memory. However, a reversal of this effect should also be plausible: taking a part icular event associated with a mood.Schwarz (1998) informed that Bower’s model made two key predictions: First, memory is enhanced when the affective state at the time of encoding matches the affective state at the time of retrieval (state-dependent learning). Thus, we are more likely to recall material acquired in a particular mood when we are in the same, rather than a different, mood at the time of recall. Second, any given material is more likely to be retrieved when its affective tone matches the individual's mood at the time of recall (mood-congruent memory).Thus, information of a positive inclination is more likely to come to mind when we are in a happy rather than sad mood. In relating mood-memory and its effect to cognitive processes in emotion, studies have helped in understanding individual differences in emotionality, and particularly differences in vulnerability to pathological emotional states. Two general types of study are therefore of special interest: those comparing groups differing on trait measures of negative emotionality and those that contrast individuals with or without emotional disorders such as depression or anxiety states.In most of this research the implicit or explicit hypothesis is that differences in how individuals process emotional information may be a causal factor in the development or maintenance of emotional disorders (Mathews & Macleod, 1994). Several researchers have reported that depressed mood states elicit more pronounced cognitive biases in those individuals who report a past history of depressive episodes, suggesting a high level of trait vulnerability to this emotion (Miranda et al 1990). Similar findings have been reported concerning the patterns of selective attention associated with elevated anxiety.Using the dot probe detection paradigm to assess distribution of visual attention, MacLeod & Mathews (1988) tested separate groups of high trait and low trait anxious students on two occasions, again when sta te anxiety was low (early in the semester) and once when state anxiety was high (in the week before an important examination). When state anxiety was low, neither the high trait nor the low trait anxious groups showed any selective attentional response to emotionally negative stimuli words.High trait anxious students responded to elevated state anxiety by displaying increased allocation of visual attention toward emotionally threatening examination-related stimulus words. In contrast, low trait anxious subjects responded to the state anxiety elevation by showing a marginally significant effect in the opposite direction. Depending on how one thinks emotional information is represented in memory, emotional states could activate all congruent representations; that is, those consistent in valence and meaning with that emotion.Alternatively, only some kinds of congruent information might be activated, such as that involved in causing the emotion or relating to the individual's current co ncerns. Finally, emotions could be associated with effects that are relatively specific not only to particular cognitive content but also to certain types of cognitive operations on that information (Mathews & Macleod, 1994). The problems with Bower’s (1981) network theory include: 1. ) failure to replicate mood state-dependent memory effects, 2.) presence of instructional effects on judgmental bias and mood-incongruent recall, 3. ) failure to find (single) lexical decision effects of mood state, 4. ) restriction of mood-congruent recall to self-encoded stimuli, 5. ) specificity of attentional bias to domain of current concern, and 6. ) facilitation of different types of cognitive operation in different emotions. Bibliography Bower G. H. 1991. Mood congruity of social judgments. In Emotion and Social Judgments, ed. JP Forgas, pp. 31-53. Oxford: Pergamon. Bower, G. H. 1981. Mood and memory.American Psychologist, 36, 129–148. MacLeod C. & Mathews A. M. 1988. Anxiety and the allocation of attention to threat. Q. J. Exp. Psychol: Hum. Exp. Psychol. 38:659-70. Mathews, A. , & Macleod, C. 1994. Cognitive Approaches to Emotion and Emotional Disorders. Annual Review of Psychology, 45: 26-45. Miranda J. , Persons J. B. & Byers C. N. 1990. Endorsement of dysfunctional beliefs depends on mood state. J. Abnorm. Psychol. 99:237-41. Schwarz, N. 1998. Warmer and More Social: Recent Developments in Cognitive Social Psychology. Annual Review of Sociology, 24(1): 239.

Advanced Auditing Case 2.3

Advanced Auditing Case Assignment 2. 3 1. (a) When confirming year-end accounts receivable, auditors hope to accomplish the objective of obtaining evidence from third parties to evaluate the client’s assertions of year-end accounts receivable amounts. The client’s assertions that accounts receivable confirmation can effectively address are existence, rights, and valuation. b) When performing year-end sales cutoff tests, auditors hope to accomplish the objective of obtaining evidence from third parties to evaluate the client’s assertions of sales recorded for the period under audit. The client’s assertions that sales cutoff tests can effectively address are completeness and presentation. 2. Coopers & Lybrand made several significant errors of judgment in its effort to confirm the Wow Wee receivable at the end of 1995.These errors of judgment include ignoring or overlooking red flags including: the 69% change in the percentage of factored accounts receivable from 1994 to 1995, the $2. 4 million in sales to Wow Wee booked in the final day of fiscal 1995, the fact that Wow Wee is a manufacturing company, the fact that Wow Wee was left out of the top 25 customers list when it was among the top 5 based on recorded sales, and the clearly falsified bill of lading.Coopers & Lybrand failed to make the appropriate modifications to their planned audit procedures to examine these irregularities. Coopers & Lybrand also failed to follow up on the confirmation of the Wow Wee receivable that they accepted from Goldberg. These errors of judgment involve extreme negligence on the part of the auditors. I would classify these errors as reckless as there is no evidence to support that Coopers & Lybrand were involved in the fraud.I think that the auditors did not suspect that fraud would occur at Happiness Express in 1995 as they had previously audited Happiness Express in 1994 and rightfully issued an unqualified opinion. I think that the auditors believe d that these were simple mistakes that did not need to be further examined. The company’s revenue grew so significantly from 1994 to 1995 and because of this, I think that is was easy for the auditors to believe that the employees were simply overwhelmed by the company’s alarming growth and made mistakes as a result. . Yes Coopers & Lybrand should have confirmed the receivable from West Coast Liquidators at the end of fiscal 1995 because it represented 13%, a clearly material amount, of the total accounts receivable. They also should have included one or more of the sales to West Coast Liquidators in their year-end sales cutoff tests for 1995 as many of these transactions were booked in the final month of the fiscal year.Sales transactions occurring close to the end of the fiscal year are much more likely to be suspicious in nature or fraudulent than transactions occurring earlier in the year. 4. The alternative procedures that can be applied to a large receivable of a n audit client when a confirmation cannot be obtained include examination of subsequent cash receipts, the matching of such receipts with the actual items paid for, and examination of shipping, or other client documentation.The evidence provided by these methods may differ from the evidence provided by confirmation of a receivable depending on the client’s documentation of the transaction. Typically, in a company with proper internal controls and documentation, alternative procedures should be able to effectively address the same assertions that the confirmation of a receivable address. At very least, alternative procedures provide evidence for the existence assertion. 5. According to AU Section 317. 7, auditors should be aware of the possibility that illegal acts, such as insider trading, may have occurred however, an audit made in accordance with GAAS provides no assurance that illegal acts will be detected or that any contingent liabilities that may result will be disclose d. In the event that an auditor discovers evidence concerning the existence of possible illegal acts that could have a material indirect effect on the financial statements, they should apply audit procedures directed to ascertain whether an illegal act has occurred.

How solar cells are made Assignment Example | Topics and Well Written Essays - 500 words

How solar cells are made - Assignment Example In this process, PV ( photovoltaic ) energy is converted into electrical energy. According to National renewable Energy Laboratory (NREL )website , this is the most common technology used for providing energy to homes. However, like any technology, certain steps and procedures must be thoroughly learned before one can set-up a solar panel .In fact, Solar Energy International(SEI), an online website , provides an online workshop for those who are interested in making their own solar panels. In fact, SEI suggests that one should study first â€Å"Solar Electric Fundamentals and Grid Design† before taking up other courses. A single solar panel used for homes are made up of modules that can contain about 40 cells. However, this is not sufficient that is why there is a need to produce up to 20 solar panels in order to provide electricity for a medium-sized house. There are also certain considerations such as making sure that the panels are placed in a direction that captures maximum sunlight. Usually, solar panels are placed to the south to be able to capture good

Analysis of the Film The Wizard of Oz (1939) Movie Review

Analysis of the Film The Wizard of Oz (1939) - Movie Review Example With reference to the more obvious part of the subject, the filmmaker appears to enthuse life’s constant fact that by one’s sole endeavor, it would be difficult to attain a sense of fulfillment. In the story, Dorothy meets a Scarecrow, a Tin Man, and a Cowardly Lion on her journey to the Emerald City. Though each of these creatures differs greatly from each other with respect to non-human material characteristics, altogether they possess distinct human traits that complement those of the Kansas girl. Under these circumstances, the four become great friends as they inevitably give one another a hand in overcoming the obstacles encountered. At this stage, the film clearly inculcates to the psyche the significance of friendship that works in good and bad times alike. ‘The Wizard of Oz’ specifically promotes the notion that regardless of the predictive capability of an individual to emerge as a hero or heroine in most cases like Dorothy, there comes a turning p oint when companions are amply necessitated in completing not only the set tasks or mission but also the state of happiness in all sorts of adventures experienced. On the other hand, through in-depth examination, the creation of ‘The Wizard of Oz’ may be found to form an argument that suggests typical culture and ‘populist ideology’. By presenting the rural conditions of an American small town where the tending farm is the chief source of livelihood, the film communicates the value of familial ties and associated hard-work thereof. It seeks to establish agreement to the type of American society during the 1930s when the extended period of industrialization from the Gilded Age brought about several revolutionary ideas which took effect via the outcomes perceived in the drastic change in both the economy and the general community lifestyle. In particular, the ‘yellow brick road’ which symbolizes ‘gold’ and the rainbow’s end bearing a ‘pot of gold’ both represent the principle of prosperity which can only be achieved through enthusiastic attitude toward work while holding ‘family’ essential in the process. It stresses consideration to how the strength of family bond impacts