Pros and cons of the different learning methods Essay

Pros and cons of the different learning methods - Essay Example Commercially purchased social studies learning – commercially purchased social studies learning such as technology assisted teaching medium (DVD tutorials, online learning) became more versatile today than they were first introduced, it still cannot facilitate critical reflection and decision making due to the limitation of the medium (Rose and Fernlund, 1997).  Ã‚   Unlike the integrative method of social studies learning where a student can infer to various discipline in synthesizing his or her interpretation of the universe, commercially purchased social studies learning are only limited to the pre-set curriculum of the program purchased.   Online learning may provide interaction but the coverage of discussion is not as comprehensive compared to integrative mode of learning. Commercially purchased social studies learning can also be costly because the mode of instruction is highly commercialized.d) Teacher-prepared social studies learning – perhaps the most commo n teaching method is the teacher prepared social studies learning.   Teachers even predate the books as learning was already facilitated through oral transfer when the printed text was not yet around.   Transfer of knowledge is typically done on a lecture where a student can ask a question and the teacher answering the same.   The method of learning through a teacher prepared curriculum or lesson plan is no longer responsive to the need of the present environment where students has to interpret and synthesize information and making meaning out of them.   Lectures delivered by teacher prepared syllabus are limited to the range of knowledge of the teacher thus making synthesis limited due to the limitation of the input. This type of learning however is also cost effective because the cost associated to the transfer of knowledge and skill is only limited to covering the salary of the teacher and his or her instruction materials. III. Supplementary Materials The usage of chart to compare and contrast the pros and cons of integrated social studies learning,

The economic impact of Rosie the Riviter during ww2 Essay

The economic impact of Rosie the Riviter during ww2 - Essay Example When US entered in the war, much of human resources that served auto industry earlier were now picking up the tasks of serving the nation as soldiers. United States was already struggling from great depression before the Word War-2. The unemployment rates were higher. In such a crisis time, World War-2 opened a big requirement for soldiers on the front, and the jobs were emptied in industrial city Detroit. Resultantly, a large sum of American population entered in the arsenal jobs (as well as some emptied factory jobs). Notably, most jobs were fulfilled by American Woman. According to the historical records, a big percentage came from African- American woman who shifted out from their traditional tasks to fulfill the emptied position of arsenal factory works. Immediate Economic support Before the World War, United States was mired in the great depression. Unemployment which had been as high as 24.9 in 1933 still averaged 14.6 in 1944. During the World War unemployment dropped rapidly . In 1942 it averaged 4.7 and in 1944 it reaches wartime 1.2. As a result the image of Rosie the riveter and America as the arsenal of democracy stayed with Americans long after the Second World War was over.3 This historical event soon came out in form of a cult figure Rosie the Riveter, who represents the woman working on traditionally considered man’s job such as welding and riveting. As mention above, Rosie the Riveter came up as a cult figure of that movement named over her. United States’ economy was highly pressured earlier of World War. However, during the World War Rosie the Riveters somehow balanced the production unit of socio-economical context, which had some long lasting effects over State’s economy. Sudden drop in unemployment helped United States to balance the social environment which could otherwise collapse due to high defense budget and comparatively lower number of human resources for supporting industries and home conditions. Many reports i ndicate that rarely any industrial sources had been shut down.4 However, most of the industries had to compromise from their regular tasks and were on a hold during the World War. Comparable to the earlier times, Industries were not in wore conditions than the great depression. Depression had caused many industries to shut down while World War had put them on halt. Suddenly after the Rosie the riveter phenomenon came out as a moment among woman of United States, African-American woman participated in it in a larger number than white women. States reached out to a balanced situation as compared to earlier years of World War. However, Rosie the Riveter moment is often taken as a matter of criticism when it comes to the payment of woman which was still lower than payments of men.5 The Socio-economical change Before 1942, World War had engaged much of lower class human resources. Emptied places were filled by ‘Rosies’ who had a large number of African American women. Neil a Wynn made an analysis which asserts that around 1,000,000 African-Americans were employed, and 600,000 of them were women.6 Noticeable fact is that U.S. had not overcome from the racist troubles till the time. African-Americans had it harder to get into many jobs and mostly it were men who were making money for the family. In such a situation, when ‘

Trustees of Indiana University Essay Example for Free

Trustees of Indiana University Essay Planning and building the landscape of education and the academic community is not an easy task or responsibility. There are various standards or guidelines that the academic institutions, its staff, teachers, communities, parents, and other stakeholders should adhere to in order to develop and provide educational programs and services that exceeds quality and excellence. At the heart of this imposing goal of education is the accomplishment of various research studies for the purpose of formulating, determining, and proving or debunking various theories, models, paradigms, frameworks, strategies, techniques, etc. that respond to various concerns for all the dimensions and aspects of education. For instance, several research studies conducted within the scope of the field of education were designed to address how Educational Philosophies are supposed to be drafted based on diverse viewpoints on learning and education, i. e. idealism, realism, existentialism, and so on. Moreover, theoretical perspectives that are being developed based on research studies and practical experiments lead to the development of various teaching strategies and techniques that address various problems from different angles of the learning situation. Under these pretexts, we realize why learning educational theories and models in different aspects of learning and education is important. The theories and models serve as a guide that helps government institutions, academic institutions, and teachers develop educational standards and guidelines, as well as specific programs, activities, learning content, and so on. In this way, the landscape of learning and education are well-planned and designed to accomplish, in the process, the genuine goals and objectives of education and the responsibilities of the academic institution, its staff, and the teachers, toward the nation, the government, the community, the parents, other stakeholders, and most importantly the learners. Developing an Understanding of Instructional Design One specific aspect or dimension of the teaching-learning process is Instructional Design. According to Jonassen, Tessmer, and Hannum (1999), Instructional Design may be considered initially as a process by which comprehensive information is obtained in order to determine how learning shall be best facilitated. The foundations of the Instructional Design shall be based on the nature of the learners, the features or characteristics of the learning environment, the availability of resources and information, the educational philosophy observed by the academic institution, the goals and objectives of education, rules and laws governing education, new trends or paradigms in education, and so on. These information shall be utilized to identify the processes, strategies, techniques, methods, materials, etc. that are to be used to facilitate learning and transmit knowledge to the learners. (Jonassen, Tessmer, Hannum, 1999) In order to develop sound, efficient, and appropriate practices in Instructional Design, various theories have been formulated to support the planning, implementation, and evaluation process. One of these theories includes the Instructional-Design Theory. The Instructional-Design Theory, according to Reigeluth (1983), is an outline that directs how learning shall be best facilitated. The Instructional-Design Theory constitutes three key concepts which help individuals, particularly teachers, as well as academic institutions, plan and design the content, the methods, strategies, techniques, etc. of instruction for the purpose of enhancing how learning takes place. In developing the landscape of education as the primary concern for the literature, several references, such as books, publications, and journals have been published over the years discussing the Instructional-Design Theory. However, not all information discussed in these references may be considered valid and reliable. Hence, reviewing references that shape the foundations of education, particularly in Instructional Design is important in order to obtain information that are relevant, appropriate, efficient, and advantageous for application to educational processes and operations. All about the Book Charles M. Reigeluth and Alison Carr-Chellman wrote the third volume of the â€Å"Instructional-Design Theories and Models† three-part series. The subtitle for this volume is â€Å"Building a Common Knowledge Base. † The main theme of the book still adheres to the concepts of the Instructional-Design Theory, however, in this third volume, there was much emphasis on solidifying the bases or foundations of Instructional Design founded on the vast scope of information on frameworks, models, paradigms, and so on, that build on how Instructional Design is viewed, planned, implemented and evaluated. Reigeluth and Carr-Chellman’s goals and objectives in coagulating the foundations of Instructional Design were realized through their discussion of the common knowledge or information shared by the variety of archetypes, standards, paradigms, etc. In addition, Reigeluth and Carr-Chellman may be highly regarded as reputable sources of information. Their experiences as members of the academe have made it possible for them to provide fitting contributions to the book. Reigeluth is a professor at Indiana University’s School of Education, Instructional Systems Technology Department. He has obtained a Ph. D. in Instructional Psychology at the Brigham Young University. (Indiana University, 2009) On the other hand, Carr-Chellman is also a professor at the Pennsylvania State University’s Department of Learning and Performance Systems. She has obtained a Ph. D. in Instructional Systems Technology (Indiana University) and a Master and Undergraduate Degree in Education (Syracuse University). (SAGE Publications, 2008) Central to the discussions and arguments in the book is the belief of the importance of establishing a common knowledge base that would fuse the bases and extract the essence of Instructional Design that will be the foundations of other models, theories, strategies, techniques, and planning or designing, implementation, and evaluation of Instructional Design as a process. This review primarily focuses on how Reigeluth and Carr-Chellman’s work is a great contribution to the field of education, particularly in shaping and developing the foundations of Instructional Design despite and even with the diverse changes to learning situations principally caused by concepts in constructivism. A SUMMARY OF THE BOOK The first unit of the book, â€Å"Frameworks for Understanding Instructional Theory,† provides generally common information, represented in specific contexts and structures, about the definition, dimensions, and mechanics of the Instructional Theory, the Instructional Design and Instruction, the philosophies that govern the process of instruction, and how instruction is being applied within various learning situations. This particular unit was developed in order to provide introductory information. It sets the stage for the succeeding discussions on the Instructional-Design Theories and Models by: (1) defining the features, conditions, conceptual framework, and delimitations of the Instructional-Design Theory, (2) discussing the importance of instruction and its role in facilitating learning and the transmission of knowledge, and (3) relating concepts and ideologies on the Instructional Theory and Instructional Design to practical situations that commonly occur within the setting of the teaching-learning process. The second unit of the book, â€Å"Theories of Different Approaches to Instruction,† constitutes five approaches to instruction with varied goals and expected outcomes. Each was written by different authors who contributed to complete the objectives of the book. The five approaches aforementioned are: (1) Direct Approach to Instruction which targets the fast and efficient transmission of knowledge through direct teacher-learner interaction, (2) Discussion Approach to Instruction which facilitates learning through discourse and interaction, (3) Experiential Approach to Instruction within learning environments that allow practical learning or the application of knowledge and skills, (4) Problem-Based Approach to Instruction wherein learning is facilitated by urging students to define problems and develop resolutions, and (5) Simulation Approach to Instruction which places the learners within an environment that represents reality. The third unit of the book, â€Å"Theories for Different Outcomes of Instruction,† addresses problems, challenges, and difficulties in the teaching-learning process as caused by diversity and the complexity of learning and the learners, which necessitates the realization of different outcomes from the learning process in order to promote holistic learning. These four theories, which seek to accomplish varied outcomes from the learners, include (1) Skill Development, (2) Understanding, (3) Affective Development, and (4) Integrated Learning. Apparently, these theories are responses to the need to diversify learning so as not to capitalize excessively on cognitive learning and instruction. These theories are based on the perspectives of holistic learning, which looks into other aspects of the person aside from his cognitive faculties. The fourth unit in the book, â€Å"Tools for Building a Common Knowledge Base,† tackles the practical aspect of developing a framework of Instructional Design, which is based on universal knowledge and information that withstands various changes and transformations in the landscape of education through time. There were various issues discussed in this particular chapter. The first issue has something to do with the conceptual framework of the Instructional Theory – that is the base knowledge or hypothesis for the theory, its goals and objectives, contributions to education, suggestions and recommendations, general points and ideas, and so on. Other issues constituted the design or process by which the academic institution is to undergo reformation. These designs or processes include the successful implementation of a Learner-Centered Education, the dimensions of learning and the Instructional Theory, how the Instructional Theory is to be applied to educational processes and operations appropriately considering the inception of the Information Age, and the necessity to apply common knowledge base to capture the genuine essence of Instructional Design as a process to facilitate the improvement of the educational landscape. ANALYSIS AND EVALUATION OF THE BOOK This book is the third installment in a three-volume set on Instructional-Design Theories and Models. The first volume of the book was set down by Reigeluth, the editor, with primary issues and concepts focused on narrating, defining, and describing the basic concepts that build on the theory of Instructional Design within the context of the existing landscape of education during that point in time. (Reigeluth, 1983) The second volume develops the major concepts and ideas in the first volume but with additions or contributions from paradigm shifts and newly discovered theories that seek to improve or enhance the framework of the Instructional Design Theory. (Reigeluth, 1999) Based on the concepts and ideas from the first and second volumes of the book, the fundamental features and contributions of the third volume are realized. The essence of this book lies in its undercurrent objectives of fusing the concepts and ideas from the first volume and the second volume in order to provide an improved source of information that builds on the core concepts of the Instructional Design Theory and the current trends integrated into the theory in order to develop or enhance its foundations as well as how it is applied with considerations on the modern issues and concepts. Reigeluth and Carr-Chellman have efficiently worked together in order to collate significant information that contributes to progressive knowledge of Instructional Design as a theory by focusing on how all the major and significant parts of the theory, whether traditional or modern, shall be put together to reconcile rational yet long-established theories with modern constructivist theories. We may consider the process of developing this book as gaining the best of both worlds – that is, the face of Instructional Design in the past and at present time – to provide a new paradigm of the Instructional Design theory that is deep-rooted on a secure and time-tested model but is also appropriate for current learning environments and situations. Under these pretexts, the contributions of this book to human knowledge was realized because it presented something new or innovative that is logical and sensible as well as practical. From the words of Reigeluth and Carr-Chellman (N. D. ), the maturity or development of knowledge in this particular context is only facilitated when theories are built on other theories. Reigeluth and Carr-Chellman’s vision in creating this book embodies innovation and development at the face of the necessity to continually improve one of the primary institutions in society that provides services in education. Delving into one of the many technical aspects of the book, Reigeluth and Carr-Chellman has also succeeded in providing a reputable or reliable and valid source of information based on the list of references used to complete this third volume. Reigeluth and Carr-Chellman were able to obtain information that was integrated into the book from the individuals who developed the various theories discussed in the second, third, and fourth chapters of the book. Gaining the original ideas and perspectives from the theorists themselves establishes its reliability and validity since information were obtained first hand. Moreover, Reigeluth and Carr-Chellman, as the editors of the book, have handpicked a variety of primary and secondary references to back-up their theses or main arguments in the book. This means that both editors made an effort to approach the matter impartially and evenhandedly. The book was consistently structured and organized from start to finish. It was topical in such a way that divisions were planned to categorize all similar ideas together, such that definitions were placed in the first unit, the theories for approaches in the second, and so on. In addition, the book was arranged chronologically in order to relay simple and singular information first before moving on to the complex ideas which have something to do with how the pioneers of education as a process are to synthesize information from the first units to develop a common knowledge base for the design and implementation of the Instructional Design Theory. Overall, the ideas were organized from general to specific and similar concepts or ideas were placed together in a single unit in order to prevent confusion on the part of the readers and to present a clear and concise conceptual structure. However, in the same way, the structure of the book solidified some of its flaws regarding how the main theme was covered and how the readers are expected to synthesize the information provided in order to come up with a common knowledge base to enhance the framework of current theories or models of Instructional Design. Mostly, Reigeluth and Carr-Chellman presented concepts and ideas on the approaches and expected outcomes of instruction. Although introducing new theories is relevant in the quest to develop or improve the structure of Instructional Design or theory, the arrangement of the ideas and the scope of the discussions do not sit well with the primary objectives of the book, let alone its subtitle that was supposed to define its content. I believe that Reigeluth and Carr-Chellman should have published two different books in order to secede the discussions in units two and three, and the fourth chapter, which genuinely captured the essence of the book. Furthermore, Reigeluth and Carr-Chellman should have given more thought on providing comprehensive and sufficient information on how individuals are to develop a common knowledge based on Instructional Design as a theory as it was the fundamental nature of the third volume of the three-part Instructional-Design book series. In terms of the content of the book, the number of sources, from books to journals, magazine articles, etc. that I have read over time has taught me that different types of information made available for readers are not meant to be technically and practically critiqued, but instead digested in order to determine whether they represent rational and exploitable ideas and concepts for the advancement of human knowledge and development of education. Reigeluth and Carr-Chellman decided to contribute something to the field of education by introducing this third volume of the Instructional-Design Theories and Model series and the time and effort placed to do so is entirely commendable. Moreover, the diversity of learning situations and the complexity of the various aspects of the teaching and learning process nowadays justifies the applicability or non-applicability of new theories, approaches, techniques, strategies, etc. being introduced to the academic institution. This means that some ideas presented would turn out to be effective in some learning situations and ineffective in some. The most important thing is to obtain the most important pieces of information that would be valid in all aspects and situations in order to establish a contingency plan that would prevent flaws and failures in education. This ideology represents what this book embodies as a bulk of knowledge. CONCLUSION By and large, the book is a significant piece of reference that contributes to the massive field of education, specifically in developing the foundations of Instructional Design as a response to the diverse changes in the learning situations and environments principally caused by concepts in constructivism. Although there were some flaws evident in the structure and organization of the book, it presents several pieces of information that meets the necessity for additional knowledge that expands Instructional Design. In addition, the book is an excellent reference for individuals who are exploring the variety of theories and models that build up Instructional Design. With the success of the book in fusing conventional ideas with contemporary ones in an attempt to solidify the generally accepted foundations of Instructional Design as a theory and reconcile it with innovative theories and models, the only inquiry that remains is what the future holds for Instructional Design in terms of how it is to be approached and how its current paradigm is to be modified. References Indiana University. (2009). Profile: Charles M. Reigeluth. Retrieved 14 Apr 2009, from The Trustees of Indiana University. Website: https://profile. educ. indiana. edu/Default. aspx? alias=profile. educ. indiana. edu/reigelut Jonassen, D. H. , Tessmer, M. , Hannum, W. H. (1999). Task Analysis Method for Instructional Design. Mahwah, NJ: Lawrence Erlbaum Associates. Reigeluth, C. M. (1983). Instructional-Design Theories and Models: An Overview of their Current Status, Vol. I. Mahwah, NJ: Lawrence Erlbaum Associates. Reigeluth, C. M. (1999). Instructional-Design Theories and Models: A New Paradigm of Instructional Theory, Vol. II. Mahwah, NJ: Lawrence Erlbaum Associates. Reigeluth, C. M. Carr-Chellman, A. A. (N. D). A Common Language and Knowledge Base for ID?. Retrieved 15 Apr 2009, from the University of Georgia. Website: http://it. coe. uga. edu/itforum/paper91/Paper91. html Reigeluth, C. M. Carr-Chellman, A. A. (2009) Instructional-Design Theories and Models: Building a Common Knowledge Base, Vol. III. NY, USA: Routledge. SAGE Publications. (2008). Alison. A. Carr-Chellman. Retrieved 14 Apr 2009, from SAGE Publications. Website: http://www. sagepub. com/authorDetails. nav? contribId=530086 University of North Carolina. (N. D. ). Book Reviews. Retrieved 14 Apr 2009, from Creative Commons Attribution-NonCommercial-NoDerivs 2. 5 License. Website: http://www. unc. edu/depts/wcweb/handouts/review. html

Zimbabwe Country Debt and Economic Performance

Zimbabwe Country Debt and Economic Performance Overview The debate on the effect and direction of causality regarding debt on economic growth has attracted significant academic interest since the last quarter of the 20th century. This question has become more relevant in the context of the so-called Least Developed Countries (LDCs) whose economies typically contain oversized debt, exhibit stunted growth and have often defaulted on outstanding debt. This research sought to build on the existing body of literature and conditions in Zimbabwe over the past 20 years, with special reference on the period 1995 to 2008, and draw inferences on the role that debt played in Zimbabwes economic performance over the same period. This chapter sets the stage for the study through reviewing the background to the research study, outlining the problem statement, discussing research objectives and methods among other things. The framework introduced and described herein shall be expanded on application in the later stages of the research project and any necessary adjustments will be incorporated. The chapter, by outlining in advance the research expectations, forms the basis upon which the outcome and conclusions of the research shall be assessed. Background of Zimbabwes Debt Zimbabwe just like any other Less Developed Economies (LIC) has relied on both external and domestic finance to fund its developmental projects. External debt comprise foreign currency denominated liabilities owed to non-resident entities, in the form of both medium to long-term loans and short-term trade facilities, while domestic debt is debt owed to residents and is contracted mainly through issuing treasury bills and bonds as well as utilization of the overdraft window at the Reserve Bank of Zimbabwe (RBZ). The country has not been able to pay its external and domestic obligations for sometime against the background of progressive decline in export performance and the depletion of the foreign currency reserves. The meagre foreign currency resources available have been allocated towards critical social needs such as education and health delivery systems. Consequently, the countrys ability to settle obligations has been severely undermined culminating in accumulation of external payment arrears to US$4 487 million as at 31 December 2009. This represents a more than 60% increase over the 2000 figure of $2.75 billion. This coincides with a period when the economy had entered into a sustained phase of economic decline and hyperinflation. It is argued that debt overhang has been a stumbling block towards economic recovery initiatives of the country and has impacted negatively on the countrys international credit rating, a development which has been a major deterrent to potential foreign investment and credit inflows. The total debt has been growing from 1990 as shown in the graph hereunder: Fig. 1 Debt and GDP Trend for Zimbabwe Source: Data complied from Reserve Bank of Zimbabwe and The Ministry of Finance in Zimbabwe Zimbabwe has not been able to pay its debt obligations for nearly a decade from 1999 against the background of progressive decline in export performance and depletion of foreign currency reserves, due to restrictive measures imposed on the country. The total debt increased from $2.9 billion in 1990 to $6.9 billion in 2010 and the debt burden is a stumbling block towards economic recovery of the country and has impacted negatively on the countrys international credit rating, a development which has been a major deterrent to potential foreign investment and credit inflows. Against this backdrop, it is imperative that the country develop sustainable strategies to deal with the debt overhang problem. As at October 2010, the external debt stock was 118.4% of GDP, which is above international debt sustainability benchmark of 60%. Zimbabwe is in the process of drafting a cocktail of measures to expunge the debt obligations. A number of options which can be implemented to deal with the debt burden are, (a) Equity Anchored Debt Resolution which involves external new borrowing by the country to retire the totality or part of external debt, using identified public assets as collateral, (b) Brady plan where Zimbabwe can engage other nations who can guarantee its securitized debt, (c) Foreign Direct Investment (FDI) Backed Debt Clearance Strategy which is a strategy designed to clear Zimbabwes debt and debt arrears without direct and immediate payment by Government of Zimbabwe, (d) Debt re-scheduling, and (e) Heavily Indebted Poor country (HIPC) Initiative which is a debt reduction strategy for heavily indebted poor countries pursuing IMF, and World Bank supported adjustment and reform programs. The debate on the debt resolution issues in Zimbabwe has been taking place in the absence of a proper analytical background or framework that captures the real dynamics behind the debt issue. This research contributes to this critical discourse in Zimbabwe through providing that analytical and objective framework. Problem Statement Growing public debt is a worldwide phenomenon and it has become a common feature of the fiscal sectors of most of economies. Poor debt management and a permanent growth of the debt to Gross Domestic Product ratio may result in negative macroeconomic performance, like crowding out of investment, financial system instability, inflationary pressures, exchange rate fluctuations and more importantly adverse effects on economic growth. In fact the theoretical literature has summarized the following channels through which external and domestic debts affects growth negatively namely; debt overhang, liquidity constraint, fiscal effect, productivity suppression and reduction in human capital accumulation. There are also certain social and political implications of unsustainable debt burden. Persistent and high public debt calls for a large piece of budgetary resources for debt servicing. Consequently, the government is forced to cut allocations for other public services and it faces serious di fficulties in executing its electoral manifesto, if it has. While the negative effects of public debt are well documented, there is no consensus on the optimum impact and the direction of causality. Countries with better economic performance may also better deal with the public debt phenomenon. In fact higher economic growth in turn increases a countrys creditworthiness and this may attract more capital inflows. If the capital inflow is long term or Foreign Direct Investment (FDI), and the debt is applied towards enhancing the countrys productive capacity and capital accumulation, the impact of debt on economic growth will be positive. There have been several attempts to empirically assess the public debt-economic growth link, in the context of other antecedent variables mainly by using Ordinary Least Squares (OLS). Most of the earlier empirical studies include a fairly standard set of domestic debt, policy and other exogenous explanatory variables and the majority found one or more debt variables to be significantly and negatively correlated with investment or growth (Krugman, 1988; Borensztein, 1990; Greene and Villanueva, 1991; Deshpande, 1997 and more recently Pattillo, Poisson, and Ricci, 2004). Among developing countries evidences supporting the debt overhang hypothesis features research from Iyoha (1996), Fosu (1999), Mbanga and Sikod (2001), Maureen (2001) and Clements, Bhattacharya, and Nguyen (2003). The rationale of this study was driven by the scant amount of research in developing nations investigating the link between public debt and growth taking into account the causality and endogeneity issues. Although there is a substantial literature on the impact of public debt on growth, relatively few studies have been conducted on a sample of developing economies exclusively and particularly for Africa, but the latter has remained one of the continents with the highest and worrying growing level of public debt. This research aims to analyze the impact of public debt on the economic growth of Zimbabwe over the period 1990-2000. This study is based on the small developing state, Zimbabwe, and it provide a good case study because as most low income countries, it has limited access to international capital markets and thus the impact of external debt and domestic debt on these economies can be different as compared to emerging market countries. Moreover external debt may have indirect effects through private and public investment through the debt overhang and crowding out effects. Further, one should also not ignore the indirect effects of debt accumulation and service through private investment (debt overhang) and public spending (crowding out). Thus given the possibility of endogeneity and important feedback effects, the research uses the dynamic time series analysis, namely a Vector Autoregressive framework. The motivation to use this framework is that it allows important insights on the role of public debt on, not only economic growth but ultimately on private and public investment as well. Statement of the Research Objectives To develop a pragmatic model to understand the relationship between national debt and economic performance To ascertain the relevance of debt in determining economic policy To establish critical benchmarks that developing countries can use to enhance bond markets. Key Research Questions What are the drivers for the level of debt in developing countries? What are the determinants of economic performance? What role do stocks, bonds and alternative asset classes play in resolving country debt? Are prescriptive models and or solutions on debt from developed economies workable for developing nations such as Zimbabwe? Hypothesis In undertaking this research, emphasis is to test the following hypothesis upon which the results of this study are based: Public debt has a negative influence on the economic performance of a country. Zimbabwes economic decline is attributed to heavy debt overhang. The alternative hypothesis of this study is as follows: Public debt does not have any influence in the economic performance of a country. Zimbabwes economic decline has no relationship with public debt. Definition of Terms Definitions form an integral part in the compilation of the research. The definition of terms given below, where used consistently in the entire research report. Public Debt this is defined as the total debt owed by the Central Government which include both domestic and external debt, Bloomsburg (2007). External Debt It refers to the part of a countrys debt that is owed to creditors who are not residents of the country, Bloomsburg (2007). In other words it refers to the obligations that are owed by residents to non-residents. Debt Service refers to the future debt repayments of both the principal and interest amount. Economic Performance refers to those issues dealing with the amount and value of money, wealth, debt, and investment, SDI (1996). It is the general outlook of the economy as measured by relevant economic indicators such as GDP/GDP per capita. Country Debt refers to total obligations owned by the country to non-residents. Debt Sustainability The OECD Economic Surveys (2002) define debt sustainability as the ability of government to service its borrowings, both internal and external without resorting to rescheduling or accumulation of arrears. Thus, debt is sustainable when it can be serviced without resorting to exceptional financing or a major correction in the future balance of income and expenditure. Debt sustainability relates to the assessment of the level of debt that can be serviced without resorting to exceptional financing or a major correction in the future balance of income and expenditure. Research Design The type of research design adopted is both experimental and correlational in nature. The study will triangulate correlation and qualitative aspect to increase the degree of control over factors reviewed. The specific focus on Zimbabwe draws understanding of the study as a case study. Robson (2002:178) defines a case study as, a strategy for doing research which involves an empirical investigation of a particular contemporary phenomenon within its real life context using multiple sources of evidence. The purpose of the study is to examine the relationship between variables, in this instance, developing country debt and economic performance. The degree of control on factor variables in this research will clearly be moderate as the role of environmental influence and human perception will relatively be inconsistent. Secondary Research (Correlational Research). To assess the empirical relationship between the major variables, that is debt and economic growth, the research makes extensive use of econometric modeling. The modeling stage incorporates other variables, which although not underlying the core objective of the relationship being analysed, are considered relevant explanatory variables to the dependent variable. The causal effect among the variables is often indirect, has significant components of the feedback effect and exhibits elements of endogeneity. To account for this, the research uses dynamic time series analysis, namely a Vector Autoregressive framework. The motivation to use this framework is that it allows important insights on the role of public debt on, not only economic growth, but ultimately on private and public investment as well. Advance filtration of the modeling variables to enhance model purity and relevance is achieved through various forms of pre-modeling tests. The univariate properties of all data series are investigated to determine the degree to which they are integrated, provide valid statistical inference and avoid problems of spurious relationships. Both the augmented Dickey-Fuller (ADF) and Phillips-Perron (PP) unit-roots tests will be employed for that purpose to show whether the variable are integrated of order 1 (I(1)) and thus stationary in difference. The time series characteristics of the data will be analysed by utilizing the statistical tools such as the R-squared, unit roots, the t-statistic, the probability value (p-value) and the Dubin Watson Statistic (DW statistic). Justification of the Vector Autoregressive Framework Public debt does not only affect growth a priori (that is in the expected negative effect on economic growth), but countries with better economic performance may also better deal with the external debt phenomenon. In fact higher economic growth in turn increases a countrys creditworthiness and this may attract more capital inflows. If the capital inflow is long term or Foreign Direct Investment (FDI), the need to borrow may decrease. Moreover external debt may have indirect effects through private and public investment through the debt overhang and crowding out effects. In addition, one should also not ignore the indirect effects of debt accumulation and service through private investment (debt overhang) and public spending (crowding out). Thus given the possibility of endogeneity and important feedback effects, we use dynamic time series analysis, namely a Vector Autoregressive Framework, to analyse the hypothesized link. Such a framework will allow important insights on the role of public debt not only on economic growth but ultimately on private and public investment as well. Significance of the Study. The envisaged modelling framework will provide debt managers in Zimbabwe and the region with an objective and efficient tool to analyse and cope with vulnerabilities in their public debt portfolio. This awareness shall be enhanced by the post-modeling user test and analysis performed as part of this research. The research focuses on country specific factors and seeks to contribute to the development of econometric modelling in Zimbabwe and comparable countries in the region. The precision of policy making and public finance management in Zimbabwe is severely weakened by lack of quantitative insights into the workings of the economy. Over the years, little or no attempt has been made to scientifically assess the impact of the countrys runaway debt on such variables as economic growth, provision of social services and Foreign Direct Investment flows. This research represents an important step towards addressing this dearth of analytical insight. Chapter Conclusion The above chapter highlighted the core research problem, research objectives, research questions and the research hypothesis adopted to develop econometric model output for this paper. In the following chapters the researcher shall review as follows: Chapter 2: The literature review Chapter 3: The methodology Chapter 4: Findings and detailed analysis of the Zimbabwean market Chapter 5: Conclusions Chapter 6: Recommendations

value of a college education Essay example -- essays research papers

Value Of A College Education According to Lundberg (2003), â€Å"adult students are one of the most rapidly growing segments of today’s college student population, making up approximately 40% of all college students† (665). Having a college education is an important tool that contributes to several aspects of a person’s life. The areas that are impacted the most would be the professional and personal areas. It is important to learn the value of a college education in order to take advantage of what you learn and how to productively apply it in your personal and professional life. Having a college education is something that can always be looked at as a positive achievement that feels good and looks good on a resume. Earning a college degree can provide a lifetime of rewards and unlike most other consumer purchases such as a car, will only appreciate in value, not depreciate. Professional Aspects According to Vocational Training News (2003), despite the current economic climate, college students say having technology skills will greatly increase their employment potential (6). The job market is constantly changing each year. Jobs are now more competitive and having a college degree seems to be a necessity for most which is why having a college degree at least shows that an individual is knowledgeable, enthusiastic, and has worked hard to accomplish a specific goal. Having a college degree also gives more opportunity to apply for jobs of interest. Larger Salary A college degree also allows for the opportunity to earn a larger salary. Having a degree also gives a person more confidence when negotiating salaries. Knowing that a company cannot use the excuse of not having a degree against you is a great benefit. Even though the cost of a college education is outrageous, the benefits of having a degree far surpass those costs. Loans can be paid back but it is very difficult to make a substantial amount of money without a degree. This reminds me of a saying that I once heard though I cannot recall who said it. "If you think the price of education is expensive, try the price of ignorance. You pay for ignorance everyday for the rest of your life."- Anonymous Respect and Admiration Everyone would like something to show from the hard work they put into earning their deg... ...ngs to different areas of a person’s life. In my case, I will have developed the skills and values necessary to be an asset to my company and elsewhere in the business world. I will now not be looked upon as just an â€Å"entry level† worker. More opportunities will be available for jobs that are of particular interest to me and as stated before, the opportunity for a higher salary will exist. By continuing my education, I will have achieved a great accomplishment and know that all of my hard work and determination has finally paid off. The value of a college education is priceless. Earning a degree can only make the future more desirable. In conclusion, I need to take it upon myself to further my education right now, without interruption, no matter what the obstacles may be. References (2003, December). Teens say tech knowledge increases potential jobs. Vocational Training News, 34, (12), 6. Retrieved December 21, 2003, from EBSCO database. Lundberg, C.A., (2003, November/December). The influence of time-limitations, faculty, and peer relationships on adult student learning. Journal of Higher Education, 74, (6), 665. Retrieved December 21, 2003, from EBSCO database.

Spiritualism Essay -- Parapsychology Essays, 2015

â€Å"Don't you remember anything?! There is no 'devil.' There is no 'hell.' There is only Unrest. There is no down, only sideways; the transparent beside the opaque, and a thin wall to separate them.† ― Leanna Renee Hieber, The Strangely Beautiful Tale of Miss Percy According to Merriam-webster.com, Spiritualism is a â€Å"belief that spirits of the dead communicate with the living, usually through a medium†. However, Spiritualism is more than a belief. Ever since the Spiritualist movement began and spread in the 1800’s, Spiritualism has evolved into a religion that continues to be practiced today. Contacting the dead is not a pleasant subject for most people however, although Spiritualism used to be casually practiced everyday in the homes of the Victorians in the 1800s. How did something that once used to be a method of being able to re-unite with your beloved, dead, grandparents warp into something that incites fear? Spiritualism was founded by the Fox sisters back in 1848 when Margaretta and Kate Fox claimed to have heard mysterious rappings in their little home in Hydesville, New York. Apparently, their house was reputed to be haunted before the Fox family moved in and there were claims of unexplainable sounds and furniture moving on their own. Margaretta and Fox started speaking to the spirit who was allegedly haunting their home and they eventually developed a system for communicating with it. The Fox sisters would ask the spirit a question and they would get answers in return through the form of rappings. For example, they would interpret one rap for â€Å"yes† or two for â€Å"no† or they would interpret the number of rapping’s given for a letter in an alphabet. It wasn’t long before the neighbors heard about the Fox sisters’ new found abilities and gathered at their house to witness the spirit rappings for themselves. Soon, they were giving performances in major towns, and that was when the rapping phenomena began to spread. The Fox sisters gained fame through their public sà ©ances and it wasn’t long before other people started claiming that they were also able to speak with spirits and other forms of communicating with the dead were created such as table tipping and slate writing. The Victorian era was marked by â€Å"romanticism  and mysticism with regard to religion, social values, and the arts† (http://www.studyblue.com/notes/note/n/dr-rescher-english-... ... each other. The information that I have learned regarding this topic has helped me a lot in developing my plot for a comic book that I am working on for Senior Show titled â€Å"Post-Mortem†. My story is set in the Victorian era where two brothers lament the loss of their loved ones. The older brother especially has a hard time coping with the loss of his fiancà ©, and the little brother tries to contact her and bring her back. However, instead of drawing back in the beautiful and kind fiancà © he ends up bringing back one that is hungry for revenge. Even though my story is based in the Victorian era where contacting the dead had nothing to do with evil spirits, I wanted to make my story more modern by adding a macabre touch. Works Cited McClenon, James. "The Scientific Investigation of Wondrous Events."  Wondrous Events: Foundation of Religious Belief, University of Pennsylvania Press(1994): 185-207. Print. Simpkins, Sarah. "Dr. Rescher   English 204."  STUDYBLUE. STUDY BLUE, 28 Mar. 2012. Web. 29 Apr. 2015. . Roach, Mary.  Spook: Science Tackles the Afterlife. New York: W.W. Norton, 2005. Print.

Contempory Management Functions Essay

How do the theories proposed in your chosen reading inform your understanding of contemporary management functions and the employer-employee relationship? The Purpose of this essay is to determine how scientific management impacts contemporary management functions and the employer-employee relationship. This essay is based on the journal article [Locke,E (1982)The Ideas of Fredrick W Taylor: An Evaluation, Academy Management review,7(11),pp.14-24] and is regarding scientific management started by Fredrick Winslow Taylor which was a theory developed regarding management which analysed workflows. It was one of the earliest attempts to apply science to management. Scientific management’s main objective was to improve economic efficiency and productivity in the workforce. In most simple terms some of the many concepts were having a standardised method for doing a job, providing increased compensation to the worker as reward for being efficient and hiring the right person for the right job. Many of these theories are very commonly used in management today. Contemporary is a word meaning existing or occurring at the same time (Robbins,2012) . Management functions refer to the way somebody manages a business (Robbins,2012). Therefore contemporary management functions are how we typically manage today. Employer- employee relationship is the relationship in which a manager has with their employee’s and how they complete their work day together and if they are efficient together (Robbins,2012). The four contemporary management functions are Planning, Organising, leading and controlling. Planning is defined as a management function that involves defining goals, establishing strategies for achieving those goals and developing plans to integrate and coordinate activities (Robbins,2012). Organising is a management function that involves arranging and structuring work to accomplish the organisations goals (Robbins,2012). Leading is working with and through people to accomplish organisational goals and controlling involves monitoring, comp aring and correcting work performance (Robbins,2012). Scientific management theories proposed in this reading do apply to  contemporary management functions. Although many of these theories could be argued as common knowledge today, when Fredrick Taylor established them they were prehistoric terms. He wanted to find out ‘one best way’ for everything in the workplace. Taylor’s most well known experiment was the pig-iron experiment (Locke, 1982 ). The experiment involved workers loading ‘pigs’ of iron on to rail cars. He knew their current daily output, but believed more was possible using scientific management. This was done due to many things. First of all putting the right person on the job with the right tools and equipment. In today’s management people hire the best person they can for the job. Secondly he had the worker follow his instructions exactly. This is also normal in today’s management functions, because people do things the way the employer wants them to. Taylor also motivated successful and productive workers with higher pay (Locke, 1982). This is also very common in today, with higher salary packages for good workers and pay increases for productivity fairly common. This improves employer and employee relationships by making the employee feel valued. Although many people believe in Taylors scientific management functions Lawerence (2010), Green (1986) both argue that that this is not the case and that scientific management is the problem in today’s management. Although there arguments are well presented there seems to be no evidence suggesting that Taylor’s theories do not work. Chung(2013) Agrees with Taylors contemporary management theories but argues the point that people could be to caught up on contemporary management functions and forgetting some key aspects of general managing. Taylor’s scientific management theories help the understanding of the employer-employee relationship by making it easier to understand what the relationship is actually for. This relationship is primarily about productivity .Many things Taylor did such as relaying messages from the employer to the employee to improve productivity) are also widely used in today’s management(locke,1982) . He also discovered that giving feedback to your employees will increase there skills and there productivity ( Locke,1982). This method is also very commonly used today with weekly meetings in many companies between employee and employer. Many large companies today use contemporary management functions in the work place. Companies Such as subway, burger king and McDonald’s are all very structured from top to bottom of the company and people are constantly striving to think of ways to improve productivity thus maximising profits. Yang (2012), Talks about all the hugely complex mathematical equations that now go into various parts decision making in Burger King and McDonald’s. Although the equations are to complex to understand to the average person it is clear that management is a lot more planned and structured in today’s workplace. Williams (2008) statesâ€Å"Consistency is a priority at McDonald’s† (p.15). This is true because anytime you walk into a McDonalds anywhere in the world you know what to expect. This is due to the contemporary management functions of a large scale to plan and organise and regulate what every individual McDonalds can do to ensure people know what they are getting and what to expect every time they walk through that door. Williams (2008) also discusses the change between old management styles and new management styles that have produced positive results for the company. The new management styles are all very similar to what Locke (1982) says about Taylor’s theories. For example Williams (2008) speaks about all the new rewards McDonalds have brought in for successful franchises and employees ranging from bonus’s to promotions to higher positions which like Taylor suggests encourages people to work harder hence greater profits (Locke, 1982 ) . Williams (2008) also talks about the extensive process in training managers and staff and the new expectations of every employee within the company that has increased greatly over the years to insure everythi ng runs according to contemporary management functions. Taylor’s theories of scientific management are helpful in informing you of contemporary management functions and employer-employee relationships. The way the workplace is shaped today seems very relevant to Taylor’s theories. Many of his theories are normal in today’s management functions. Although he has had many critics of his work It is shown in the articles that not many have been able to prove there arguments. Using evidence such as Williams (2008) journal on the change in managing McDonalds makes it clear that Taylor has had a big influence on typical management functions in today’s  workplace. Chung, C. (2013) The Road Not Taken: Putting ‘Management’ Back to Taylor’s Scientific Management, Journal of multidisciplinary research, 5(1), pp. 45-56. Green, M. (1986) A Kantian Evaluation of Taylorism in the Workplace, Journal of Business Ethics, 7 (2), pp. 165-169. Lawrence, P. (2010)The key job design problem is still Taylorism, Journal of Organizational Behaviour, 31 (2), pp. 412-421. Locke, E. (1982) The Ideas of Fredrick W .Taylor: An Evaluation, Academy of Management Review, 7 (1), pp. 14-24. Robbins,S.R., Bergman, Stagg, Coulter. (2012). Management (6th ed.). Pearson Australia Group Pty Ltd. Williams, E. (2008) Accelerated leadership development tops the talent management menu at Mcdonald’s ,27(4),pp. 15-31. Yang,N. (2012) Burger King and McDonald’s: Where’s the Spillover?, 19(2),pp.255-281