Program

Pantawid Pamilyang Pilipino Program: â€Å"Kaya ng Pinoy tumawid sa Kaunlaran† One afternoon, I bought chips and drinks in a mini-mart. I fall in a long line with people who are too busy checking up their groceries. I heard one talking about the money that they have to budget in a week or two that in some sort helps them in their living. The cash that they had was from a program. I was too curious about the program that they were talking about, what comes next was I found myself talking to one of these people about the program. The Bridge of the Filipino PeoplePantawid Pamilya Pilipino Program is one of government’s programs that aims to reduce the number of poor Filipinos through helping them in health and education particularly children who suffer at ages 0-14. The Pantawid Pamilyang Pilipino Program provides cash subsidies to poor households in the country with zero to 14 years old children. It provides a P500 monthly allowance per household and P300 monthly per chil d under the health and education package respectively granted that the beneficiaries follow the set conditions of the program on health and education.Included in the program conditions are regular health checkups for children, pre- and post-natal checkups for pregnant women, 85 percent school attendance for children, and attendance on family development sessions monthly of parent-beneficiaries. Further, because of several factors that affect the indigenous people’s welfare – among which are cultural belief, isolation and lack of education, there is a need to establish links with non-government organizations, concerned local government units, and Civil Society Organizations to provide services and ensure the general welfare of the said group and address their specific concerns.Also, the DSWD Field Office IV-A reported that more frequent monitoring is being conducted to the group to ensure high compliance of the said families to program conditions and high involvement in the program activities. Other services being provided to the said groups are supplemental feeding, literacy class, livelihood projects, and birth registration. The program covers 17 regions, 80 provinces, 733 cities/municipalities including Lipa City. All in all, there are 1 million poor households covered in the program. Objectives of Pantawid ProgramFirst is eradating extreme poverty and hunger, achieving universal primary education, promoting gender equality and empowering women. It provides assistance to the poor to alleviate their immediate needs and break the intergenerational cycle of poverty investment in human capital such as education, health and nutrition. The program aims to respond on the basic needs of the poor families through financial assistance and to elevate the poor through helping poor families in terms of their health, nutrition and education. Procedure on Beneficiaries selection:The DSWD-Region IV-A hired personnel for the survey of Lipenos last 2009. The fol lowing filled up form will proceed to Proxy Means Test (PMP). A machine that will determine the socio-economic category of families or either the families is poorest household. Third quarter of 2011, the DSWD Region IVA, provide us a copy of master list of eligible household with a total of 9,201 families/ Fourth quarter of 2011, we assisted the DSWD staff for organization of Assemblies for validation of household at PVM School and Marawoy-wherein our constituent submitted birth certificate, marriage contract, barangay clearance and 2 valid ID’s.From 9,201 household, 7,323 are complied with the requirements of the program. (1,878 not passed) Memorandum of agreement was signed by the Mayor. Identification card was given to qualified beneficiaries. There is only one design of the ID distributed to 72 barangay by the DSWD Central Office. The distribution of ID was done 2nd week to 3rd week of March simultaneously to cope with the scheduled of the pay out on March 27-31, 2012 for the month of January and February 2012.The amount of grant for the said month will be given on a cash basis at Landbank, Marawoy, lipa City by presenting the Identification Card issued. The program provides conditional cash to beneficiaries through Landbank. What are the Pantawid Benefits Health and Nutrition grant were P500. 00 per household and a total of 6,000 per year or yearly. In education, 300. 00 per month will be given per child for 10 months a year to a maximum of 3 children per household. A household with 3 qualified children (5-14 years old) will received a total of P900. 0 as long as they comply with the conditionality’s. Based on the category the amount to be received by the beneficiaries for a month were 500, 800, 1,100 and 1400 (based on the approved beneficiaries of the program) Last January and February the program have a total of 15,079,000. 00 grant to 7,323 Lipenos. The Conditionalities (Co-responsibilities of household beneficiaries) For the nutrition o f children 0-5 years old, the beneficiary should visit the city health center to avail immunization.They should also have a monthly weight monitoring and nutrition counselling for the children age 0-2 years old and have quarterly weight monitoring for the age 25-37 weeks old. Lastly, they should have management of childhood disease for sick children 6-14 years old and must receive de worming pills twice a year. For the education of children ages 3-5 years old, they should be enrolled in day care of pre-school program and maintain a class attendance rate of at least 85% per month.For the children 6-14 years old they should also be enrolled in Elementary and Secondary School and maintain a class attendance rate of at least 85% per month. Aside from that, the parents or the guardian have their own responsibility. They must attend family development session at least once a month. They should participate in a community activities, (cleanliness drive, etc. ) and promote and strengthen the implementation of the program. â€Å"Pantawid Tulong† for the lipeno Families As of August 2012, there are 7, 290 lipeno grantees of Pantawid PamilyaProgram and they are monitored every 2 months. The support of the City Mayor, Hon. Meynard A. Sabili to the implementation of the program was continuous as he personally participates in all of the activities of the program. He acted like a father caring to 7, 329 children and always reminding them of the Pantawid contionalities and how to be a good parent to their children. â€Å"Pantawid Pamilyang Pilipino Program is a blessing to our family. I found a new partner to help me sustain the needs of my children.. † Ate Elsa said, one of the program’s beneficiary. -Yvette Landicho

Amtrak Train Derailment

Who are the stakeholders in this case? The stakeholders in this case are the passengers, crew and their families, aboard the Amtrak train that derailed. They are also the corporate investors who hold stock in Amtrak and all Amtrak employees who have invested their time in employment with the organization. They could easily lose their jobs if a major layoff occurred or the organization filed for bankruptcy due to the millions they would be required to pay in damages. Stakeholders are the members of the Mobile, Alabama community who either witnessed or heard about the disaster and who may have lost trust in this railway system. The crew and captain of the tug boat which ran its barges into the framework of the bridge are also stakeholders, along with the owners and investors of the transport company in which they were employed. The emergency workers, the agencies such as NTSB, the Alabama Emergency Response Network and the U. S. Coast Guard are stakeholders as well. What are the interests of the stakeholders? Investors in the transport company, CSX and Amtrak stand to lose money as such disasters can lead to public distrust and subsequent falling stock prices. They must answer to the public as to why emergency signals were not designed on the bridge. Families have lost loved ones as passengers or crew members that they cannot bring back. Crew members that lived must deal with feelings of guilt for not being able to do more and not being aware of exactly what had happened. They will also have to face many questions from agencies investigating the disaster and will face stressful situations, possibly for years to come. Their careers and way of earning a living may also be in jeopardy due to the effects of this disaster. Crew and families of the tug boat crews must face feelings of guilt and shame. What is this corporation's social corporate responsibility in this case for the four areas of corporate social responsibility? †¢Legal Social Responsibility With respect to the legal responsibility, both CSX who failed to provide a signal on the bridge and WGN, whose crew ran into and damaged the bridge, while displacing the track have a financial responsibility toward families whose loved ones made a living, whether crew or passengers. Amtrak also shares in this responsibility for not taking greater precautions, such as reduced speed, knowing that some bridges are not installed with emergency signals. There is also a financial burden to repair the damages to the bridge and CSX track by WGN, who initially caused the event that led to the derailment. According to Mallen Baker (2009), â€Å"CSR is about building relationships with customers, about attracting and retaining talented staff, about managing risk, and about assuring reputation. † In this instance, both CSX and WGN did a poor job of managing risk. WGN is responsible for not having staff with better training and navigation skills and CSX for ignoring recommendations to install emergency signals on the bridge. †¢Economic Social Responsibility CSX, Amtrak and NTSB have economic social responsibility in reducing the risk of injury or loss of life due to such incidents, which has a huge financial impact on the families of passengers and crew. WGN shares in this responsibility as well. Though CSX did not install emergency signals, the NTSB should provide greater oversight to ensure such precautions are taken. WGN should be aware of the problems that can occur when a large vessel runs into various structures and should help in repairing the emotional and financial lives of the victims of the accident. Both CSX/Amtrak and WGN have an economic responsibility to the shareholders of their respective corporations, to ensure that business processed provide the smoothest possible operations, for best possible returns on investments. When disasters such as this one occur, investors stand to lose substantial financial gains. †¢Ethical Social Responsibility All agencies and companies involved have an ethical responsibility to make sure that various forms of travel or transport they oversee or are involved in are as safe as possible for their crews and passengers. Ignoring recommendations such as CSX did, in not installing the emergency signal due to cost is an example of social irresponsibility (Eisenbeis, et al, nd). Amtrak could have better communications and emergency systems aboard the trains and passenger cars, to alert the entire crew of emergencies. Though this may not be an issue of irresponsibility, it has implications for future rail travel. WGN has an ethical responsibility to ensure that vessel crews are trained and updated on navigation techniques, so that injury to innocent bystanders does not occur. They also have an ethical responsibility to have proper navigation systems on board the vessels. †¢Philanthropic Social Responsibility Travel and transport organizations do not have a specific responsibility to become involved in philanthropic activities, though they should at least insure that the communities in which they travel through are not adversely affected either economically or environmentally, as a result of their travels. They could take measures to provide incentives for jobs and training for jobs of those in the communities in which they travel through, as taxpayers of those communities share the burden of building bridges and roads. Because the organizations also contribute to introducing carbon emissions into the environment, they should work with and offer some financial support to organizations that help monitor and provide solutions for carbon emissions. Conclusion and Recommendation I believe better communication by all parties involved would have reduced injuries. Amtrak should have had regulations in place for speed during weather conditions and safety devices for the rail in front of them could have avoided a lot of the accident. Having markers in place for emergency response units, would have allowed them to give a more specific place of the wreck. When people’s lives are at stake all ethical issues and laws should be put in full swing. Common sense would have prevented all of this. Large corporations such as Amtrak should have trained employees and safety standards in place.

How fertility was portrayed in ancient art Essay

How fertility was portrayed in ancient art - Essay Example The earliest artifacts that portray fertility can be said to emanate from both the historical periods of Neolithic and Paleolithic period. These images included sculptures in which females were portrayed, whereby the artists presented the women with swollen bellies, as well as accentuated thighs and breasts. One of these images is the â€Å"Venus of Willendorf†, which encompasses a figure of a female that is well rounded. The picture of the woman in this portrait has been carved from limestone whose shape is that of an egg. This work portrays fertility since it seems that the artist who curved it linked fertility with the shape of the stone used, which resembled an egg. Fertility in this artwork can also be portrayed by the fact that it has some features, which can be regarded as the phenomenon of female figurines (Liu 147). Some archeologists have referred to this image as the goddess of fertility. This image is crucial since it portrays some features that relate to fertility . For example, the swelling in the image, as well as the femininity emphasized by the sculptor, can be connected to female fertility. From this image, fertility, in its physical form, can be seen from most of the features that the image possesses. The female figure appears as strong and large, which is common in pregnant women who fall under the category of fertile people. The continuity and change about fertility can be depicted by the fact that figure appears as stable. In addition, the hands of the female figure can be seen resting on her breasts, which further presents her as strong. The power seen in the figure can be associated with childbirth and stable health, which relate to fertility (Liu 147). Another ancient piece of art that represents fertility is the â€Å"Venus of laussel.† This image consists of a drawing, which portrays an overweight woman, but with little presented about her looks. This figure can be found in Laussel, which is a cave in the French Valley of Dordogne. Scholars of the Paleolithic period have asserted that the woman in this image holds a crescent moon. The figure held by the woman resembles the crescent moon. In addition, the figure has 13 stripes, which represent the lunar cycle. Since the Venus has her hand on her belly, which is of large size, this can be regarded to be a sign of fertility. Moreover, the tallies, which the crescent has, can sometimes be referred as the total number of cycles of menstruation, which a woman experiences in one year. This image can be regarded as important since it presents some of the symbols, which related to fertility in women (James 230). The other image that represents fertility is the â€Å"Sculptured Vase† from the Uruk Period. This sculpture represents Inanna, the goddess associated with both fertility and love. This figure represents a huge image of the goddess receiving some offerings. In addition, there is also a representation of a man who is nude. The purpose of the va se is to honor the goddess, who can be considered valuable for the role she plays when it come to fertility. It is believed that this goddess blesses women with children and enables people to fall in love with one another. Therefore, it can be argued that this image is crucial as it represents the goddess who determines whether people are fertile. The continuity of fertility in Uruk Period can be seen to be connected to the

Essay on Contracts Example | Topics and Well Written Essays - 1000 words

On Contracts - Essay Example A valid offer may thus be made orally, in writing or by conduct. In the scenario, a question arises on when a valid offer was made by either party. Was it made by the brochure advertising the vehicle and its price? Or was it made by peter when he wrote to the sales company reserving a new Vectra 2.0i, Corsican Blue, for the price of ?15,749? An offer must be distinguished from an invitation to treat. An invitation to treat is generally a negotiation on in which a seller of a commodity gives the price of the commodity, not as offer that is capable of acceptance by the buyer, but rather as an invitation to conduct further negotiations on the price of the commodity. This means that if a seller of a commodity posts the price of a given commodity on the commodity itself, newspaper, brochure, or on a shelf, this amounts to an invitation to treat rather than a valid offer capable of acceptance by the buyer when he/she presents the item to the seller2. In the case of Pharmaceutical Society o f Great Britain v. Boots Cash Chemists3 the court considered the question whether the price of the goods displayed in a chemist amounted to an offer made to the buyer upon which he accepts when he picks the goods from the shelves and put them in a shopping basket. The court held that if that was the case, a customer who picks the goods from the shelves cannot be able to return them. Instead the goods on the shelves were merely invitation to treat, and the sale agreement was complete upon the cashier accepting payment for the goods. The same rule applies in regard to advertisements, which are generally interpreted by the courts to be merely invitations to treat. In the case of Partridge v. Crittenden4 the defendant had placed advertisements on the classified section of magazines advertising the sale of bramble finches, whose sale had been prohibited by Section 6 of the Protection of Birds Act. He was found guilty under the Act and so he appealed the decision of the trial court. The A ppellate court, in quashing the appellant’s sentence, held that the advertisements were merely invitations to treat as opposed to an offer. This view was upheld by the court in Fisher v. Bell5 where the court held that the display of a flick knife in the display of a shop was merely an advertisement of the good, and thus an invitation to treat. From the foregoing, the brochure obtained by peter containing the car’s description and price was merely a form of advertisement for the car. It did not amount to an offer in any way, but was merely an invitation to treat for the company’s customers. However, there was a valid offer from Peter to the company’s sales department through his written letter to the company indicating his willingness to purchase a Corsican blue Vectra 2.0i vehicle. It is a universally accepted principle of law that acceptance must coincide fully with the terms of an offer. This means that if new terms are introduced to the contract, or r ather if new terms are purported to be introduced, acceptance of such new terms will be considered as a counter offer which results in the rejection of the offer. In the case of Hyde v Wrench6 the plaintiff offered the respondent to him his land for $1000 and he refused. In his reply, he stated that he would pay $950 and the respondent refused. The plaintiff later wrote to the respondent accepting to pay the initial sum but the respondent re

Literature Review on Group Creativity Theory Essay

Literature Review on Group Creativity Theory - Essay Example rt in their field and have strong knowledge to properly guide the design team and create an environment that is conducive to creativity, innovation and stimulation of new ideas (Paulus & Nijstad, 2003). In other words, the art director serves as a project manager, designer and coordinator of all design activities in order to achieve the best possible end-product for the customer. Without a strong art director, a design team may not have clear direction or have the tools necessary to instill creativity and innovation for all projects. Perhaps the most difficult challenge for the art director is to implement a creative environment while balancing the challenges of group creativity theory and all of the variables associated with group dynamics. There are many external, social and psychological factors that can impact a design team’s ability to think creatively. Furthermore, the politics of a creative team can impact the group creativity because individuals begin to compete over whose ideas are more creative. One issue that can arise is an over-abundance of ideas that can actually reduce the positive creativity that is desired within a group collectivity situation (Goncalo & Staw, 2006). In this situation, it is highly important for the art director to utilize the control and organizational power awarded by the position to continue to harbor good ideas while reducing the opportunity for too many ideas to have a negative impact on group creativity. In the end, a choice must be made and the group must push forw ard to produce a strong website that is both creative and to the customer’s approval. Due to socio-psychological issues stemming from criticism in the workplace, there is often a serious issue that confronts group creativity. Many employees shut down their creativity when their own work has been criticized, in which case, directors often avoid criticizing work which negatively impacts the quality and abundance of creativity (De Dren et al., n.d.).

Globalization and Healthcare Assignment Example | Topics and Well Written Essays - 750 words

Globalization and Healthcare - Assignment Example The research paper â€Å"Globalization and Healthcare† highlights the importance of the healthcare policy as a general aspect in nursing. Nursing as a career offers a wide range of options, hence allowing nurses to work in a variety of settings such as in the emergency rooms, outpatient clinics, voluntary counseling centers in the military as well as in the schooling institutions and work places. This means that nurses are needed everywhere since they can work within any organization which does not need to be a hospital. The nursing career also offers a variety of roles that nurses can take, which includes anesthetists, midwifery, practitioners, researchers and educators. The nursing career offers one a chance to venture into entrepreneurship by starting personal clinics after receiving the Registered Nursing License. It is essential to ensure that the policy of the country of practice provides a flexible environment to ensure easy application. Health care administration invol ves taking care of the sick whether from home or from long term community placement. Health care administration is more of a calling than a career; this is because health care providers deal with different types of patients ranging from pediatrics to the psychics in mental hospitals. Health care providers watch over these patients and give them the care that they need by ensuring that they have taken their medication and that they are comfortable. It is critical though to look at health care administration from a career perspective.... My concept of nursing is that all patients should access medical attention regardless of their financial statuses. This is a concept that advocates for caring of the family members of the patients since they play a vital role on how the patient will respond to treatment and medication. The policy of a country may state otherwise. The verdict may be to treat only patients that are able to pay or the ones covered with insurance schemes. As nurses help patients through recovery, they are offered a unique chance to adapt and grow professionally (Dutton, 2007). This is undertaken with reference to the rules and regulations that are placed at the setting. The policy of a country requires understanding the religion aspects to be considered as one handles patients. Nursing requires an understanding of health belief systems that are carried by people from different cultural backgrounds. A nurse is likely to meet a patient from different cultures. Caring for the patient requires an analysis of what health systems the patient perceives, and how will the patient react to the health system (Dutton, 2007). Religion as an aspect of culture is highly variable. In nursing, one is required to understand the different religions and what policies they hold in relation to health care. Language is also an aspect of cultural diversification. It is indispensable to ensure that a nursing student communicates with given patients that he or she will be giving care. Many cultures across the globe hold different beliefs, some of which go as far as defying medical reasoning. In nursing, one is likely to meet a patient who holds such beliefs and the ability to handle such a patient determines the outcome of the patient (Dutton, 2007). The policy of the country may refer to cultural

Comparative essay for world literature Example | Topics and Well Written Essays - 1250 words

Comparative for world literature - Essay Example The play is built upon an aura of tragedy where most of the characters including the ruler Creon justify their decisions according to the prevalent as well as divine law but suffer the consequences. Antigone is adamant in providing a decent burial to her brother against the royal edict and tries to convince her sister Ismene about her decision who is reluctant to go against the royal edict. But Antigone who is betrothed to the son of Creon is adamant and goes ahead with the burial of Polyneices which is later reported. This is followed by a chain of tragedies when Antigone is sentenced to be buried alive in a cave, resulting in her death and subsequent suicides by the son of Creon, Haemon and the Queen Eurydice who cannot bear the grief. Although Creon was warned of his wrong decisions by Teiresias, a prophet who proclaimed that the denial of burial to Polyneices and the imprisonment of Antigone were against the wishes of the gods, he sticks to his decisions only to relent later. Alt hough Creon has protected the royal order he suffers as a result and finally agrees that his actions which were against the wishes of gods had resulted in his dismal fate. The second play ‘Ghosts’ by the Norwegian playwright Henrik Ibsen was originally titled ‘Gengangere’ which meant ‘the ones who return’. It highlighted the moral turpitude of those times which results in tragic circumstances for an otherwise well established family in society with the main sufferer being Mrs. Helene Alving who has to bear the adversities in life due to her philandering husband Captain Alving silently while being forced to keep up an honorable image of the family to the outside world. She tries to shield her son from the evil influence of his father, but after all her penance she discovers at the fag end that the son too suffers from a disease inherited from his

Bob Beall at the Cystic Fibrosis Foundation c Case Study

Bob Beall at the Cystic Fibrosis Foundation - Case Study Example It is an orphan disease means that it is hard for it to get funding for research on the area. This means that Cystic Fibrosis Foundation had to suffer issues with funding. Because Cystic Fibrosis Foundation is a rare and also a genetic disease makes it hard for research on the disease to be done as smoothly as other non-genetic and maintain diseases. The kind of leadership that Bob Beall displayed was the democratic leadership. It is very clear that he uses democratic leadership. In the case study, it has been identified that he never pressured his researchers to deliver the result. His favorite quote was â€Å"no pressure† which means that he always believed that his researchers did not have to be pushed or micromanaged to be able to perform better. However, this did not mean that he did not have compassion for the patients who needed to have a working medication as soon as possible. His passion to start working for the Cystic Fibrosis Foundation is enough proof that he was determined to develop a solution for this issue that was affecting so many lives, especially the young ones. One of the major advantages of this kind of leadership is that it allows innovation. In the long term, this is good for such an organization that is focused on research to develop a solution that has not been developed in the past. Democratic leadership has the advantage of the fact that the subordinates are allowed to be in control of their work. This increases motivation as people are naturally happy with autonomy and are not happy when they are being micromanaged. In such an environment where people with such specialized and expert-level skills as the kind people who were doing research at Cystic Fibrosis Foundation, it is necessary to give them freedom since this kind of research requires them to be creative and do not operate under a structured environment. This allows them to explore all the possibilities and allows them to be flexible in what they do, thus  raising the chance of successes.

Common Core Essay Example for Free

Common Core Essay The common core is a set of standards which were developed by state leaders along with teachers, school administrators and many other people, not the Federal Government. The common core has standards. Standards which are not curriculum. Standards that â€Å"do not tell principals how to run their schools, and they do not tell teachers how to teach. Local teachers, principals, and district administrators ultimately decide how the standards are to be met and the curriculum to be use† (Laine and Minnich). The school districts still have to choose which textbooks to use and, which curricula they wish to add and drop. The basic standards of the common core are: Aligned with college and workforce-training expectations; Rigorous in content and include the application of knowledge through higher-order skills; Built on strengths and lessons taken from state standards; Informed by standards in top-performing countries, so that all students are prepared to succeed in the global economy and society; and Evidence-based, clear, and aligned across a child’s K-12 education. The common core has many pros and cons to reforming the education system. In the Article The common core is a change for the better the authors mention that the common core provides a good foundation on what needs to be taught (Gardner and Powell). The authors also touched on the fact that students nowadays are â€Å"more mobile than ever†, families have to move around more to follow and find available jobs. With the common core all across the Country have the same standards. There is some consistency within all schools in America. If a family was to move from Maine to Nevada, it would be quite impossible to expect things to be the exact same. However, you can still have an idea of the standards and know what to expect. This is a great thing about the Common Core. Every Student this way is exposed to the same standards. Once students are mingled together in colleges and universities across the country the professors can expect almost every student to be able to do the same things, to a degree. Not to say that every student knows the  exact same co ntent, however they will all have graduated high school with the same skills. Skills that may be taught in a variety of styles, none the less resulting in the same skills. The common core requires teachers to be very specific and hand out rubrics, stating exactly the quality of work that is expected. This eliminates the confusion that can arouse from complicated projects or open research topics. The students will know exactly what the teacher is requiring of them. Ultimately making it easier on the students to provide what the teacher wants and getting the highest grade possible if the students puts in the effort required to meet the expectations. Effort: defined as â€Å"an earnest or strenuous attempt† by dictionary.com, is where a problem arises in the common core. The common core standard â€Å"Rigorous in content and include the application of knowledge through higher-order skills† is asking 21st century students to put in lots of effort, they can’t ask Siri to write their English paper or do their history project. Most high school aged students in the United States are not going to put in the required effort to achieve rigorous assignments. I know that when I was in high school my attitude was ‘if I wait to the last minute it only takes a minute’. That’s not because I was swamped with assignments or didn’t understand it. It was because I would rather be doing anything else, after having spent all day in classrooms with new information being drilled into my head. The absolute last thing I wanted to do was go home and spend more hours on homework. Making high school more rigo rous is going to prevent kids from being kids. Students in the United States are less motivated to learn and value education less and less. Stephen Krashen says that another problem with very rigorous assignments is â€Å"CCSS are so demanding that in English language arts classes, educators and students will have little time for anything not directly linked to the standards† (Krashen). I do not quite agree with this statement because the standards are not the curriculum being taught, just the way it is being taught. Teachers and schools have some free space to spend as much time as they feel necessary to focus on aspects they feel more important. The common core has pros and cons, just like anything in life. One set of standards isn’t going to please everyone in the United States. My personal opinion is that the common core has good intentions, but may be a bit unrealistic. If every school in America was teaching the same skills to the same degree, all students would have the same experiences entering college. There are 50 states with thousands of different schools in each states. Within those thousands of schools there are teachers who all have their own style of teaching. Not to mention the millions of students that all learn a little differently at a different pace. What are the odds that every state school, and teacher are able to provide every student with the exact same skills, using the exact same standards? There are good intentions behind it, and the United States can give it a chance, but I feel as though it may be unrealistic. Works Citied Fine, Sarah. Moving Forward With The Common Core. Education Week 30.8 (2010): 18-19. Professional Development Collection. Web. 16 Mar. 2014. Gardner, Nancy S. Powell, Rod. The Common Core Is A Change For The Better. Phi Delta Kappan 95.4 (2013): 49-53. Professional Development Collection. Web. 16 Mar. 2014. Krashen, Stephen. THE COMMON CORE. (Cover Story). Knowledge Quest 42.3 (2014): 36-45. Professional Development Collection. Web. 16 Mar. 2014. Richard, Laine, and Chris Minnich. Common Core: Setting the Record Straight. Education Week 32.36 (2013): Web. 16 Mar. 2014

Chapter Study Questions 1 & 2 Essay Example for Free

Chapter Study Questions 1 2 Essay 1.What percentage of Texans live in urban areas (cities suburbs)?   90% of the population now lives in crowed cities and suburbs. 2.Name the three cities in Texas that are three of the largest in US?   Houston, San Antonio and Dallas 3.What are the three diverse economic businesses in Texas? 4 Oil and gas producer now work alongside high-tech companies, telecommunications giants, and other important business sectors. 4.In what areas does Texas consistently rank at the bottom in state spending compared to other states? 4 Texas consistently ranks near the bottom of the states in spending on education, welfare, and healthcare for poor. 5.Is Texas a high-tax, high-business regulatory state or is it low-tax, low-regulatory?   Texas is low-tax and low-regulatory climate. 6.Are Texas well informed about government and elected officials? Do they trust government? 4 Texans are woefully ignorant of their state and local government and the public officials who make important decisions affecting their daily lives. 7.Does Texas have a regressive or progressive tax system and what do these mean?   Texas has a regressive tax system, which means a tax that imposes a disproportionately heavier burden on low-income people than on the more affluent. 8.What is meant by economic diversification and has Texas done this? 6 Economic diversification is the development of new and varied business activities. New business were encouraged to relocated to or expand in Texas after the oil and gas industry, which had been the base of the state’s economy, suffered a major recession in the 1980’s. 9.What is meant by ‘cowboy rugged individualism’ and how has this impacted Texans’ views of government as a solution to problems?   The cowboy rugged individualism, with strong connotations of self-help and independence, symbolizes a political culture in Texas that does not like to look to government as a solution to many of its problems. It is the kind of individualism that continues to be exploited by political candidates in campaign ads. 10. What impact did having a frontier have on Texans? On might argue that the â€Å"wide-open spaces† of the frontier shaped Texan’s  view of their autonomy, independence, and vulnerability. It has clearly shaped attitudes toward land and the legal right to use land as one sees fit. 11. What three combined groups now make up the majority of Texans and how does their historical experiences differ from that of Anglos? What celebration are part of their political culture?   African American, Hispanic, and Asian Americans. The white population have limited relevance to the relevance to the cultural and historical experiences of many African American and Hispanic Texans. For African American is Martin Luther King Jr’s birthday as state holiday in 1991. And for Hispanics is the Cinco de Mayo. 12.Just what does political culture mean and describe the individualistic subculture in terms of government size, assistance, politics, and primary goals? 9 Political culture a widely shared set of views, attitudes, beliefs and customs of a people as to how their government should be organized and run. Individualistic subculture holds that politics and government function as a marketplace. Government does not have to be concerned with creating a good or moral society but exists for strictly. Government should be limited, and its intervention in the private activities of its citizens should be kept to a minimum. The Government primary function is to ensure the stability of a society so that individuals can pursue their own interests. 13. Describe the moralistic subculture in terms of government size, assistance, politics, and primary goals? 9-10 Moralistic subculture is a view that government’s primary reasonability is to promote the public welfare and should actively use its authority and power to improve the social and economic well-being of its citizens. The Moralistic subculture regards politics as one of the great activities of a man in his search for the good society. 14.Describe the traditionalistic subculture in terms of government size, assistance, politics, and primary goals? 10 a view that political power should e concentrated in the hands of a few elite citizens who belong to established families or influential social groups. Public policy basically serves the interests of this small group. The traditionalistic subculture  holds the view that there is a hierarchical arrangement to the political order. This hierarchy serves to limit the power and influence of general public, while allocating authority to few individuals who comprise self-perpetuating elites. 15. In what states or colonies did you originally find these three subcultures and what two best describe Texas? 16. How big is the Native American population in Texas and of the three remaining groups, do they have the right to have casinos? 11 Alabama-Coushatta, Tigua and Kickappo are the three small Native American groups that live on reservations in Texas. And the Native American population is less than one-half of 1 percent of the States total population. They have been denied the right to run casinos on their reservation. Even thought, their leader consider casinos a major potential source of revenue, jobs and economic development for their people, but recent efforts to change state law have been unsuccessful. 17. Were there ever a great many Hispanics in Texas prior to 1830 and what was it down to by 1887? How much had this increased by 1930, 1990, and 2012? 12 Prior 1830 the Hispanic population were a small minority of the population. By 1887 the Hispanic population had declined to approximately 4 percent of state’s population. In 1930 it was 12 percent and was concentrated in the border counties from Brownsville to el Paso. By 1990s, it had reached 25 percent, spurred by immigration from Mexico and other Latin American countries. By 2012 the Hispanics comprised 37.6 percent of the state’s population. 18.What two ethnic or racial groups are growing the fastest in Texas and by 2030-what group will be the largest? How have Hispanics done in terms of elected officials compared to other states?12 The two ethnic will be Asian and Hispanics. However the Hispanics are likely to exceed 50 percent of the state’s total. 19. Compare the %s of Anglos, African Americans, Hispanics, and Asians found in Texas in 1860 and those found in 2010? Chart 13 In 1860 it was a percent of 63.2% of Anglo. The 30.3 % are African American and 6.5% were Hispanic. However in 2010, 45.3% were Anglo, 11.5% were African American, 37.6% were Hispanic and 5.6% were other. 20.Where do African Americans tend to live in Texas?   African American settled in large numbers in the urban areas of Dallas, Fort Worth, Houston and Austin. 21. In 2010, how many Texans were there and what was the growth rate of the state compared to the national growth rate and where did people move from and to in the US? 16 According to the 2010 census, the state’s population was 25,145,561, an increase of approximately 4.3 million people in ten years. This growth rate of 20.6 percent was significantly higher than the national growth rate of growth rate of 9.7 percent.

The Nature And Role Of The Financial System Finance Essay

The Nature And Role Of The Financial System Finance Essay Financial system is a mechanism where economic exchange activities can be done. The economic activities can be done through the interaction between financial institutions and the financial market. The purposes of this interaction are to mobilize fund and providing payment facilities for the financing of commercial activities. With the emergence of Islamic finance, the dual financial systems being introduce. In dual financial system the conventional financial systems operating side by side with the Islamic financial systems. The Islamic Financial system consists of the role of four essential mechanisms: The Islamic banking institutions, Takaful, Islamic Capital Market and Islamic Money market. The structure of this financial system may consist of specialized and non-specialized financial institutions, of organized and unorganized financial markets, of financial instruments and services which facilitate transfer of funds. It also comprises of procedures and practices adopted in the Islamic financial markets. The operation and mechanism of the financial system is scrutinized by Bank Negara Malaysia advisory board and Securities Commission Syariah Advisory Board to ensure compliance of Islamic rules and regulations. The Islamic financial institutions which are govern and control under Bank Negara Malaysia are the organizations that mobilize the depositors savings, and provide financing, acting as creditor or in the form of capital venture or financing in the form of profit and loss sharing (PLS). They also provide various financial services to the community, particularly business organizations. The activities will be dealing in financial assets such as deposits, loans, securities or dealing in real assets such as machinery, equipment, stocks of goods and real estate. The activities of different financial institutions may be either specialized or their function may be overlap. They may be classified base on the basis of their primary activity or the degree of their specialization with relation to savers or borrowers with whom they customarily deal or scope of activity or the type of ownership are some of the criteria which are often used to classify a large number and variety of financial institu tions which exist in the economy. Financial institutions are divided into banking and non-banking institutions. The banking institutions traditionally participate in the economys payments mechanism, i.e., they provide transactions services, their deposit liabilities constitute a major part of the national money supply, and they can, as a whole, create deposits or credit, which is money and Banks, subject to legal reserve requirements, can advance credit by creating claims against themselves. Financial institutions are also classified as intermediaries and non-intermediaries. As the term indicates, intermediaries intermediate between savers and investors; they lend money as well as mobilize savings; their liabilities are towards the ultimate savers, while their assets are from the investors or borrowers. Non-intermediary institutions do the loan business but their resources are not directly obtained from the savers. All banking institutions are intermediaries. Many non-banking institutions also act as intermediaries) and when they do so they are known as Non-Banking Financial Intermediaries. The Evolution of Financial Intermediaries in Malaysia In this section, our task is to survey the landscape and identify the institutional players. By describing what financial intermediaries look like today, it is also revealing to see how financial intermediaries have evolved over the last century. Institutional Players The banking system in Malaysia, which is the major component of the financial sector, consists of Bank Negara Malaysia, commercial banks, Islamic banks, International Islamic banks, Investment bank, other non bank institutions and money brokers. Which are all regulated and supervised by Bank Negara Malaysia.  Ã‚  Ã‚  The other non-bank institutions are supervised by other government agencies. These institutions can be divided into four major groups, consisting of the development finance institutions, the saving institutions, the provident and pension funds, and a group of other financial intermediaries, comprising of building societies, unit trusts and property trusts, leasing companies, factoring companies, credit token companies, venture capital companies, special investment agencies and several financial institutions such as the National Mortgage Corporation (Cagamas) and Credit Guarantee Corporation. The traditional banking system role has been to make long-term loans and fund them by issuing short-term deposits.  [1]  But banking systems are prohibited from engaging in securities market activities such as securities underwriting or the sale of trust funds. Therefore, the current design of non-bank financial institution are allowed to deal in the securities market a part of providing services which are similar to the banking system. The contribution of each non-bank financial institutions: insurance companies and pension funds; they receive investment funds from their customers, both of these institutions place their money in a variety of money-earning investments. Leasing companies; they purchase equipment/asset and then lease to businesses for a set number of years. Factoring companies; provide specialized forms of credit to businesses by making loans and purchasing accounts receivable at a discount, usually assumes responsibility for collecting the debt, specialize in bill processing and collections and to take advantage of economies of scale. Market makers; as an agent that offer to buy or sell security (trading in securities),  [2]  storage the securities and insured the securities against loss, provide margin credit,  [3]  cash management account services.  [4]   Trust funds; pool the funds of many small investors and purchase large quantities of securities, offer a wide variety of funds designed to appeal to most investment strategies, allow the small investors to obtain the benefits of lower transaction costs in purchasing securities and reduce the risk by diversifying the portfolio. The National Mortgage Corporation; is to promote the secondary mortgage market in Malaysia, with the issuance of secondary mortgage securities, Cagamas Berhad performs the function of an intermediary to bring together the primary lenders of housing loans and investors of long-term funds. Evolution The evolution of financial intermediation in Malaysia is reflected in Table 1. Table 1 shows the major financial intermediaries by assets and also by percentage share (in parentheses) from 1960 to 2000. To the extent that we can view the pace of financial intermediation as a horse race, there seem to be a clear winners and losers. For example, in terms of relative importance the winners are unit trust, Cagamas Berhad, leasing companies, factoring companies and venture capital companies. Commercial banks and finance companies are losers. These findings raise some interesting questions. First, what caused the change in the mix of financial intermediaries? In this section, we will examine this evolutionary process via three factors. Deregulation of Interest Rate Interest rate deregulation that affects loan pricing takes its earliest form.  [5]  Canada, in 1960, was the first to deregulate its interest rate. Other countries deregulated in the 1980s or thereafter.  [6]  This deregulation allows more freedom and activity to the banks and other institutions to issue new depository products as well as diversified short and long term credit instruments.  [7]  Leightner and Lovell (1998) state that some relaxation to the banks portfolio were part of the liberalization that enables bank to diversify investment to private as well as the foreign equity.  [8]  This made possible with the establishment of the foreign exchange market and the expansion of the underwriting activities of the financial intermediaries. Liberalization in Japan and Germany for instance, brings new paradigm to the roles of the banking institutions. The bank in Germany and Japan is no longer to be a creditor, but can also be the equity holder and in the board of d irectors and management. Liberalization of the banking industry, for example in Malaysia and some other countries, take banking institution into a new dimension that is the establishment of Islamic banking.  [9]  The increasing demand on the interest free banking offer by the Islamic financial institutions leads many conventional banks to offer Islamic counter or rather known as dual banking. This development happens to Muslim and non-Muslim countries. The results show that the individuals prefer to diversify their investment other than deposits. In particular, they invest in securities such as stocks, bonds and unit trusts. Therefore, new investment in unit trust for the small saver altered permanently the financial landscape. The Institutionalization of Financial Markets Institutionalization refers to the fact that more and more funds in Malaysia have been flowing indirectly into the financial markets through financial intermediaries, particularly pension funds, trust funds and insurance companies rather than directly from savers. As a result, these institutional players have become much more important in the financial markets relative to individual investors. What caused institutionalization? Quite simply, it was driven by the growth of these financial intermediaries, particularly pension and unit trust.  [10]  Pension fund growth was encouraged by government policy. Tax laws, for instance, encourage employers to help their employees by substituting pension benefits for wages. This is good for employees because they do not pay taxes on their pension benefits until they are received after retirement. Unit trusts gained considerably from these changes in pension plan laws. Defined contribution plans were allowed to include unit trust on the menu of assets for which plan members could choose. In addition, the increasing attractiveness of specialized funds such as bond funds and index funds has also fueled unit trust fund growth. The Transformation of Traditional Banking The fact that banks are exposed to the non-performing loans that stood at 9.1% for the periods of 1997 to 1999 and it seems to us that banking is a declining industry. However, first, the so-called decline of commercial banking is limited to a decline in the relative importance of commercial banking. As shown in Table 1, the decline of commercial banks assets as a fraction of total intermediated assets from 43.4% in 1980 to 41.3% in 2001. Table 1 also shows that banking industry assets actually increased between 1960 and 2000. In other words, bank assets have actually increased just not as fast as the assets of other financial intermediaries. Second, many of the new innovative activities in which banks engage are not reflected on bank balance sheets as assets even though they add significantly to bank revenue.  [11]  These include, for example, trading in interest rate and currency swaps, selling derivative instruments and issuing credit guarantees. Third, banks have a strong comparative advantage in lending to individuals and small businesses.  [12]  Finally, banks have joined forces with a number of other types of financial intermediaries.  [13]  For example, banks have combined with unit trust funds, merchant banks, insurance companies and finance companies. Bank acquisitions of non-bank financial intermediaries are part of broader consolidation of the entire financial services industry. Diagram 1: Structure of Regulatory Framework Minister of Land and Co-operative Development Licensing of : Brokers Representatives Trading Adviser Representatives Fund Managers Representatives Minister of Finance Minister of Domestic Trade Consumer Affairs Securities Commission Act 1993 Securities Industry Act 1983 Registrar of Companies Securities Commission Future Industry Act 1993 Companies Act 1965 Cooperative Act 1993 Kuala Lumpur Stock exchange (KLSE) BNM Islamic Banking Act 1983 Licensing of Dealers Representatives Investment Adviser Representatives Fund Managers Representatives Securities Clearing Automated Network Sdn Bhd (SCANS) Malaysian Central Depository Sdn Bhd (MCD) Kuala Lumpur Commodity Exchange (KLCE) Malaysian Futures Clearing Corporation Sdn Bhd (MFCC) Kuala Lumpur Options Financial Futures Exchange (KLOFFE) Malaysian Monetary Exchange (MME) Malaysian Derivative Clearing House Sdn Bhd (MDCH) Table 1: Malaysia: Assets of the Financial System, 1960-2000 As at end of (RM million) 1960 1970 1980 1990 2000 Banking System 2,356 (66.3) 7,455 (64.1) 54,346 (73.3) 223,500 (69.8) 829,900 (66.8) Central Bank 1,114 (31.4) 2,422 (20.8) 12,994 (17.5) 37,500 (11.7) 148,900 (12.0) Commercial Banks 1,232 (34.7) 4,460 (38.4) 32,186 (43.4) 130,600 (40.8) 513,600 (41.3) Finance Companies 10 (0.3) 531 (4.6) 5,635 (7.6) 39,400 (12.3) 109,400 (8.8) Merchant Banks 2,229 (3.0) 11,100 (3.5) 36,900 (3.0) Discount Houses 42 (0.4) 1,292 (1.7) 4,900 (1.5) 21,100 (1.7) Non-Bank Financial Intermediries 1,197 (33.7) 4,167 (35.9) 19,807 (26.7) 96,900 (30.2) 413,100 (33.2) Provident and Pension Funds 733 (20.6) 2,717 (23.4) 11,370 (15.3) 51,800 (16.2) 217,600 (17.5) Life and General Insurance Funds 103 (2.9) 439 (3.8) 2,476 (3.3) 10,300 (3.2) 52,200 (4.2) Development Financial Institutions 113 (1.0) 2,193 (3.0) 6,000 (1.9) 25,100 (2.0) Savings Institutions 267 (7.5) 645 (5.5) 2,463 (3.3) 10,000 (3.1) 32,300 (2.6) Other Intermediaries 93 (2.6) 233 (2.0) 1,305 (1.8) 19,800 (6.2) 85,900 (6.9) Total 3,553 11,622 74,153 320,400 1243,000 Source: Bank Negara Malaysia, Annual Reports (various issues) Financial Markets Financial markets are the centers or an arrangement that provide facilities for buying and selling of financial claims and services the corporations, financial institutions, individuals and governments trade in financial products in these markets either directly or through brokers and dealers on organized exchanges or off-exchanges. The participants on the demand and supply sides of these markets are financial institutions, agents, brokers, dealers, borrowers, lenders, savers, and others who are interlinked by the laws, contracts, covenants and communication networks. Financial markets are sometimes classified as primary (direct) and secondary (indirect) markets. The primary markets deal in the new financial claims or new securities and, therefore, they are also known as new issue markets. On the other hand, secondary markets deal in securities already issued or existing or outstanding. The primary markets mobilize savings and supply fresh or additional capital to business units. Alt hough secondary markets do not contribute directly to the supply of additional capital, they do so indirectly by rendering securities issued on the primary markets liquid. Stock markets have both primary and secondary market segments. Very often financial markets are classified as money markets and capital markets, although there is no essential difference between the two as both perform the same function of transferring resources to the producers. This conventional distinction is based on the differences in the period of maturity of financial assets issued in these markets. While money markets deal in the short-term claims (with a period of maturity of one year or less), capital markets do so in the long-term (maturity period above one year) claims. Contrary to popular usage, the capital market is not only co-extensive with the stock market; but it is also much wider than the stock market. Similarly, it is not always possible to include a given participant in either of the two (money and capital) markets alone. Commercial banks, for example, belong to both. While treasury bills market, call money market, and commercial bills market are examples of money market, stock market and government bonds market are example s of capital market. Keeping in view different purposes, financial markets have also been classified into the following categories: (a) organized and unorganized, (b) formal and informal, (c) official and parallel, and (d) domestic and foreign. There is no precise connotation with which the words unorganized and informal are used in this context. They are quite often used interchangeably. The financial transactions which take place outside the well-established exchanges or without systematic and orderly structure or arrangements constitute the unorganized markets. They generally refer to the markets in villages or rural areas, but they exist in urban areas also. Interbank money markets and most foreign exchange markets do not have organized exchanges. But they are not unorganized markets in the same way the rural markets are. The informal markets are said to usually involve families and small groups of individuals lending and borrowing from each other. This description cannot be str ictly applied to the foreign exchange markets, but they are also mostly informal markets. The nature, meaning, and scope of activities of these types of markets will be discussed later in the book. As mentioned earlier, financial systems deal in financial services and claims or financial assets or securities or financial instruments. These services and claims are many and varied in character. This is so because of the diversity of motives behind borrowing and lending. The stage of development of the financial system can often be judged from the diversity of financial instruments that exist in the system. It is not possible here to discuss individually the nature of various financial claims that exist in the financial system. The financial assets represent a claim to the payment of a sum of money sometime in the future (repayment of principal) and/or a periodic (regular or not so regular) payment in the form of interest or dividend. With regard to bank deposit or government bond or industrial debenture, the holder receives both the regular periodic payments and the repayment of the principal at a fixed date. Whereas with regard to ordinary share or perpetual bond, only periodic payments are received (which are regular in the case of perpetual bond but may be irregular in the case of ordinary share). Financial securities are classified as primary (direct) and secondary (indirect) securities. The primary securities are issued by the ultimate investors directly to the ultimate savers as ordinary shares and debentures, while the secondary securities are issued by the financial intermediaries to the ultimate savers as bank deposits, units, insurance policies, and so on. For the purpose of certain types of anal ysis, it is also useful to talk about ownership securities (viz., shares) and debt securities (viz., debentures, deposits). Financial instruments differ from each other in respect of their investment characteristics which, of course, are interdependent and interrelated. Among the investment characteristics of financial assets or financial products, the following are important: (i)liquidity, (ii) marketability, (iii) reversibility, (iv) transferability, (v) transactions costs, (vi) risk of default or the degree of capital and income uncertainty, and a wide array of other risks, (vii) maturity period, (viii) tax status, (ix) options such as call-back or buy-back option, (x) volatility of prices, and (xi) the rate of return-nominal, effective, and real. DEFINITION AND SCOPE OF A CAPITAL MARKET (THE ECONOMIC FUNCTIONS OF FINANCIAL INSTITUTIONS) The previous section gave a brief overview of the major types of financial institu ­tions. To understand why financial institutions exist and the economic services that they provide, it is important to understand the different ways in which funds are transferred within an economy between businesses, government, and households (economic entities) that need to borrow funds (borrowers) and those that have sur ­plus funds to lend (investors). In a very simple economy without financial institutions, transactions between, different borrowers and lenders are difficult to arrange. Borrowers and savers incur significant search and information costs trying to find each other. Transactions be ­tween borrowers and savers may also be limited, because few financial contracts in ­volve only two parties. Similarly, risks are great, since individual entities have little or no knowledge of each other and little ability to monitor each others actions. Also, the transactions costs may be so high that small entities may be unwilling to supply funds. Investors also have little ability to diversify their risk, due to the high cost of many financial contracts. Supplier of funds: surplus (savings) units Lenders: Housesolders, companies, governments, rest of the worlds Demand of funds: deficit unit Borrowers: Housesolders, companies, governments, rest of the worlds Financial Markets Financial institutions help to reduce transactions, search, monitoring, and infor ­mation costs. They provide risk management services and allow investors to diversify their risk and hold portfolios of financial assets by creating ways of indirect financing. Financial institutions also play important roles in an efficient payment system be ­tween entities and in managing pure risk (insurance). The upper panel of Figure 1 shows the role of financial institutions as intermedi ­aries between borrowers and lenders. The term primary securities refers to direct financial claims against individuals, governments, and non-financial firms. A simple economy without any financial insti ­tutions would accommodate only direct financial claims or financial contracts. In ef ­fect, a borrower gives an investor a financial contract or direct financial claim or se ­curity that promises a stake in the borrowers company (i.e., shares of stock) or future payments returning the amount invested plus interest (i.e., a bond, or some other sort of IOU). These are examples of direct or primary securities. As an economy develops, markets emerge for trading direct securities. Some function as auction markets, where trading is carried out in one physical location, as occurs on the New York Stock Exchange; others function as over-the-counter mar ­kets, where trading is carried out by distant contacts, perhaps over the phone and computer, as on the National Association of Security Dealers Automated Quotation (NASDA Q) system. Loans made directly with borrowers are another example of a primary or direct security, where a direct contract is made between a borrower and a bank or other individual lender. Table 1.2 provides examples of primary securities in the first column. The financial assets owned by banks, insurance companies, and mu ­tual funds, such as loans, bonds, and common stock, are all direct securities, where the lenders give funds to the borrowers, and the lenders receive financial contracts guaranteeing repayment of funds plus interest or shares of ownership in the bor ­rower companies. Investors lend funds in return for a direct or primary security. Secondary securities, in contrast, are financial liabilities of financial institu ­tions-that is, claim against financial institutions. In Table 1.2, financial institu ­tions liabilities-deposits, policyholder reserve obligations, and mutual fund shares-are secondary securities or claims against financial institutions. In effect, fi ­nancial institutions created secondary securities that offer advantages over primary securities or direct financial claims. EXAMPLES OF PRIMARY AND SECONDARY SECURITIES Primary Securities Secondary Securities Commercial loans Savings deposits Mortgage loans Transaction deposits Consumer loans Certificates of deposit Government bonds Insurance policyholders reserves Corporate bonds Mutual fund shares Corporate common stock Pension fund reserves Table 1.2 shows this type of indirect financing. Unfortunately, like most fields, finance sometimes uses confusing terminology. Readers should carefully avoid confusing the use of the words primary and secondary in this dis ­cussion with their use in other contexts. For example, students who have previously stud ­ied corporate finance or investments may have encountered the terms primary and sec ­ondary markets; primary markets are those for originally issued securities, and secondary markets handle resale of securities. In the context of this chapter, primary and secondary distinguish between issuers of securities and not between changes in securities ownership. PRIMARY AND SECONDARY MARKET In a market economy the existence of financial markets can greatly ease the process of exchanging loanable funds for financial claims. A firm that wants to borrow money can go to the market in the knowledge that those with funds to lend will be there. The process is made easier still if specialist traders are known to be actively participating in the markets, buying and selling financial claims on their own account, thereby smoothing over days on which trading is thin or when there is an excess of potential borrowers or lenders. Further economies are achieved if agents or brokers can be employed to enter the market representing the customer to buy and sell securities. The existence of the market serves borrowers and lenders alike by reducing the search costs which each has to incur to get in touch with the other, and also maintains confidence in market prices. Markets do not always have a physical location. A market for loanable funds might consist of nothing more than a list of know n dealers who can be contacted by letter or telephone. The International Stock Exchange is the centre of the securities market. It has both a physical trading site which is used for a very small number of securities, and a highly developed system of trading which takes place in a number of locations via computer linkages. The discount market is another traditional financial market, but one which operates without a physical site at all. This market operates by representatives of the discount houses maintaining close daily contact with the leading banks, either by telephone or personal visits, to determine where trading opportunities are. Two types of financial markets exist for real and financial assets, and it is important to distinguish between them. A primary market for financial assets deals in new issues of all types of loanable funds. Transactions in primary markets result either in the creation or in the extinction of financial claims. The creation of a new loan causes the transfer of cash from a lender to a borrower in exchange for a financial claim on the latter. The claim is extinguished when the cash, usually interest and principal, has been repaid to the lender. A secondary market is a market in old issues. Transactions in secondary markets do not create or extinguish financial claims. Cash does not pass between borrowers and lenders, but existing issues simply change hands. The borrower remains unaffect ed by the transaction while the lender transfers the right of repayment to another. The main economic function of the secondary markets is to support the operations of the associated primary markets for new issues by providing liquidity to lenders. In the absence of a developed secondary market an individual saver might be very unwilling to lend out money for long periods of time, except at rates of high interest too high to be attractive to borrowers. If the chances of making a sale when necessary are unacceptably low, no lender would commit funds. Therefore an active secondary market is essential for an active primary one. However, there is no guarantee that the lender will receive back in sale proceeds the full amount at the time they are sold, since markets fluctuate all the time, and prices are not constant. Secondary markets also contribute to the efficiency of the primary market by providing pricing information. In the share market, for example, the current prices of traded securities significantly reduce the problem of setting a price on new issues with similar risk profiles, and information from the secondary market will also influence the attitude of potential participants in primary markets. Figure 3.2 illustrates the connections between primary and secondary markets. Not all primary markets have secondary markets associated with them and some securities are issued for which there are no secondary markets

Bonds Between Mother and Daughter :: essays research papers

Bond 2 Bonds Between Mother and Daughter   Ã‚  Ã‚  Ã‚  Ã‚  Even before birth a mother and child share a special bond. This bond is like no other, for it is miracle to have a baby growing inside your body. The feelings that emerge with this miracle are too strong for words. After birth, the bond develops into a greater emotional and physical bond. The child will spend much of his or her time learning in the first years of life with the mother, who is usually the primary caregiver. Much of what the children learn from their mother will effect their whole life. Through the processes of social learning and modeling the child will learn his or her values, social roles, social identity and gender identity from their mother. Gender identity development is related to the emotional relationships that develop between children and their mothers (Chodorow).   Ã‚  Ã‚  Ã‚  Ã‚  On global rating scales mothers indicated higher levels of warmth toward their infants if the infant was a girl (Sear, Maccoby, Levin). If this is truly the case, mothers are nurturing closer relationships and a greater sense of continuity with their daughters than with sons. Research by Benenson, Morash, and Petrakos (1998) provides evidence that girls are more emotionally involved with their mothers than boys. Over time, women maintain their connectedness with their mothers, whereas men’s maternal attachment decreases. (Calloni and Handal). Boy and Girls form different emotional relationships with their primary caregiver based on their gender ( Chodorow).   Ã‚  Ã‚  Ã‚  Ã‚  Surry (1985) found that the self is organized and developed within the contest of significant relationships. For women, these significant relationships seem to be with their mothers. Perhaps this is caused by the social role of women and men. Males and Bond 3 females act differently to the opposite sex because of the roles they are bound to by society. The stereotypes that are associated with maleness and femaleness in one’s culture is learned through a process called sex typing. Women talk about their feelings to one another and emotionally bond with other females. On the other hand, males are supposed to be strong and fearless, with no show of emotion or getting too personal with other males. Although we are very gradually moving away from the traditional gender stereotypes there is still much room for improvement.   Ã‚  Ã‚  Ã‚  Ã‚  A mother’s attitudes are significant predictors of the attitudes of their daughters (Acock and Bengston, 1978; Arditti, Godwin, and Scanzoni, 1991; Dalton 1980; Jennings and Niemi, 1982; Smith, 1983). Bonds Between Mother and Daughter :: essays research papers Bond 2 Bonds Between Mother and Daughter   Ã‚  Ã‚  Ã‚  Ã‚  Even before birth a mother and child share a special bond. This bond is like no other, for it is miracle to have a baby growing inside your body. The feelings that emerge with this miracle are too strong for words. After birth, the bond develops into a greater emotional and physical bond. The child will spend much of his or her time learning in the first years of life with the mother, who is usually the primary caregiver. Much of what the children learn from their mother will effect their whole life. Through the processes of social learning and modeling the child will learn his or her values, social roles, social identity and gender identity from their mother. Gender identity development is related to the emotional relationships that develop between children and their mothers (Chodorow).   Ã‚  Ã‚  Ã‚  Ã‚  On global rating scales mothers indicated higher levels of warmth toward their infants if the infant was a girl (Sear, Maccoby, Levin). If this is truly the case, mothers are nurturing closer relationships and a greater sense of continuity with their daughters than with sons. Research by Benenson, Morash, and Petrakos (1998) provides evidence that girls are more emotionally involved with their mothers than boys. Over time, women maintain their connectedness with their mothers, whereas men’s maternal attachment decreases. (Calloni and Handal). Boy and Girls form different emotional relationships with their primary caregiver based on their gender ( Chodorow).   Ã‚  Ã‚  Ã‚  Ã‚  Surry (1985) found that the self is organized and developed within the contest of significant relationships. For women, these significant relationships seem to be with their mothers. Perhaps this is caused by the social role of women and men. Males and Bond 3 females act differently to the opposite sex because of the roles they are bound to by society. The stereotypes that are associated with maleness and femaleness in one’s culture is learned through a process called sex typing. Women talk about their feelings to one another and emotionally bond with other females. On the other hand, males are supposed to be strong and fearless, with no show of emotion or getting too personal with other males. Although we are very gradually moving away from the traditional gender stereotypes there is still much room for improvement.   Ã‚  Ã‚  Ã‚  Ã‚  A mother’s attitudes are significant predictors of the attitudes of their daughters (Acock and Bengston, 1978; Arditti, Godwin, and Scanzoni, 1991; Dalton 1980; Jennings and Niemi, 1982; Smith, 1983).

Merchant Of Venice Character Diary - Shylock :: Free Merchant of Venice Essays

Today Bassanio came up to me asking for my moneys. Later on I told him that I would lend him the moneys without any interest. I was very cautious in the repeating of his demands. Antonio is naive risking his life hoping the ships will return. I am clever because I am using this opportunity to get revenge. I made Bassanio nervous when I called Antonio a good man and they both probably knew the meaning. I'll show Antonio when his ships fail to return. Lancelot is getting on my nerves again. He is snail-slow in profit and he sleeps by day. My daughter seems to want to get out of the house and might be getting annoyed with me. I am sure that it is just a phase. Because it meant that Bassanio would lose even more of the money he borrowed I decided to attend the feast with all those creepy masks. I took no pleasure in it but I intend to ruin Bassanio. Bassanio will have all the ducats spent in no time. I forgot about my anger over my daughter's flight when I heard about Bassanio's ship wrecked in the English Channel. I then quickly remembered my daughters leaving when Tubal came to me with information on Jessica's reckless spending of my moneys. My heart was broken when I heard about I exchange for a monkey, she traded the ring that was a gift from my wife to me. I should have seen this coming. My hate turned into a disaster in only a short time today. First, Bassanio offered me double the money that was borrowed, but I was too stubborn to accept and reminded the court that the flesh was mine by law. I looked into Antonio's eyes and he seemed to have felt that he deserved what should have come. As I was sharpening my knife, Gratiano started abusing me. I guess I deserved what was happening but what happened next I'm not sure of. A lawyer came in and seemed to be on my side until she mentioned that I could only take Antonio's flesh, no blood. I was shocked to hear this but I then tried to accept the double amount but knew it was too late because that wasn't written on the bond. If that was not enough I could not just go home. The lawyer bent the law and would have taken away my life if it weren’t up to the Duke. Merchant Of Venice Character Diary - Shylock :: Free Merchant of Venice Essays Today Bassanio came up to me asking for my moneys. Later on I told him that I would lend him the moneys without any interest. I was very cautious in the repeating of his demands. Antonio is naive risking his life hoping the ships will return. I am clever because I am using this opportunity to get revenge. I made Bassanio nervous when I called Antonio a good man and they both probably knew the meaning. I'll show Antonio when his ships fail to return. Lancelot is getting on my nerves again. He is snail-slow in profit and he sleeps by day. My daughter seems to want to get out of the house and might be getting annoyed with me. I am sure that it is just a phase. Because it meant that Bassanio would lose even more of the money he borrowed I decided to attend the feast with all those creepy masks. I took no pleasure in it but I intend to ruin Bassanio. Bassanio will have all the ducats spent in no time. I forgot about my anger over my daughter's flight when I heard about Bassanio's ship wrecked in the English Channel. I then quickly remembered my daughters leaving when Tubal came to me with information on Jessica's reckless spending of my moneys. My heart was broken when I heard about I exchange for a monkey, she traded the ring that was a gift from my wife to me. I should have seen this coming. My hate turned into a disaster in only a short time today. First, Bassanio offered me double the money that was borrowed, but I was too stubborn to accept and reminded the court that the flesh was mine by law. I looked into Antonio's eyes and he seemed to have felt that he deserved what should have come. As I was sharpening my knife, Gratiano started abusing me. I guess I deserved what was happening but what happened next I'm not sure of. A lawyer came in and seemed to be on my side until she mentioned that I could only take Antonio's flesh, no blood. I was shocked to hear this but I then tried to accept the double amount but knew it was too late because that wasn't written on the bond. If that was not enough I could not just go home. The lawyer bent the law and would have taken away my life if it weren’t up to the Duke.

Outline + Evaluate Different Types of Attachment

‘Outline and evaluate different types of attachment’ Ainsworths ‘strange situation’ was developed as a tool to measure types of attachment in infants. The experiment was carried out in a purpose build playroom and children were observed with cameras. It consisted of several situations, standardised for all those who took part. Each condition involved variation of the presence of the mother and/or a stranger, over 3 minute intervals. During these different conditions, the child’s behaviour was monitored, assessing their exploratory behaviour, stranger anxiety, separation protest and reunion behaviour.From her study, Ainsworth identified three types of attachment, these were: secure, insecure- avoidant and insecure-resistant, she believes all infants can fit into these categories. A child with a secure attachment to the mother has high exploratory behaviour; they would explore happily when the mother is present and use her as a safe base. Stranger anxie ty would be seen, they would be wary and treat the stranger differently. There is a high level of separation protest, distress and crying was shown when the mother left, but they would easily be soothed when the mother was welcomed back on her return.On the other hand, a child with an insecure-avoidant attachment would be happy to explore, and there would be low stranger anxiety, the child would treat the stranger indifferently to the mother. Some separation protest can be shown, and the child may become distressed. However, when the mother returns they will carry on doing what they were before her return as they do not use the caregiver to provide comfort. Finally, those with an insecure-resistant attachment are less likely to show exploratory behaviour as they want attention from the caregiver.Intense stranger anxiety would be shown, as well as an intense separation protest, they would not be easily comforted by the mother on return, they would be angry and reject her. With this a ttachment, the child alternates between seeking closeness and wanting distance. Ainsworth suggested differences in attachment types are caused by the sensitivity of the mother, this is known as the ‘caregiver sensitivity hypothesis’. According to Ainsworth, a mother who is sensitive to the babies needs and correctly reads their social releasers, moods and feelings is likely to form a secure attachment with her child.An insecure- avoidant attachment would form if he mother is less sensitive and responsive, she may even ignore the baby, and be impatient with them. Finally, she believes that an insecure-resistant attachment would form if the mother is less sensitive and her response to her child is inconsistent, some days she may ignore the baby but the next day she may give the baby a lot of attention. However, Kagan argues that this theory puts too much emphasis on the role of the mother; he suggested attachments formed were due to the babies temperament, this is known a s the ‘temperament hypothesis’.Infact, in 1991, Fox found there was a strong relationship between attachment types towards both parents, supporting the claim that attachments relate to inbuilt temperament. Furthermore, a study carried out using meta-analysis in 1997 found a weak correlation of 0. 24 between type of attachment formed and sensitivity of the mother, showing Ainsworths theory of the development of attachment is weaker compared to Kagans. According to Kagan, a secure attachment between mother and child may be due to the baby having an ‘easy’ temperament, meaning they will have high activity and sociability.Furthermore, a baby with a ‘slow to warm up’ temperament is likely to form an insecure-avoidant attachment, and those with a ‘difficult’ temperament will have high emotionality, meaning an insecure-resistant attachment is most likely to form. However, Belsky and Rovin argued that individual differences in attachment r elate to both theories because different temperaments will present different challenges to the caregiver, a ‘slow to warm up’ baby would need more encouragement, which may influence the formation of a secure attachment.In addition, the method used in the ‘strange situation’ has been a useful tool, giving a great deal of information about a baby’s attachment in little time. It is also easy to replicate and has led to a rapid increase in the amount of research carried out, many finding similar results, suggesting the experiment is a reliable method to study attachment behaviours. However, the research lacks validity because of the unfamiliar surroundings, these may cause demand characteristics as the baby may be intimidated and act differently as a result.However, some say it may still be valid because children experience this on a regular basis when being left with a babysitter or at a nursery. Furthermore, there are ethical issues because the unfamil iar environment, separation from the mother and interaction with the stranger can cause mental distress for the baby. Finally, there is also the concern that not all babies can fit into the categories of attachment created, which is why a fourth one was added in 1986 called ‘disorganised attachment’ where babies behaviour was inconsistent.

Hamel & Prahalad: Core Competency

Business performance was primary based on the position of an organization in its industry and this view was criticized by Hamel and Prahalad as no common goal or corporation existed between the units. Alternatively, Porter believes that an organization should be viewed as individual business units. However, he does consider sharing resources between them which earlier idea planning ignore. This essay is going to discuss what competency is and compare with portfolio of individual business units. A core competency is something a firm can do well and meets the following three conditions pointed out by Hamel and Prahalad.Firstly, it can provide customers benefits. Secondly, it is hard for competitors to imitate. Finally, it can be use widely in many products and markets. Hamel and Prahalad introduced this concept in 1990 Harvard Business Review article. A core competency is a bundle of skills and technologies for a firm to provide customers benefits. Sony is an example use this idea, Son y must ensure that technologists, engineers and markets have a share understanding of customers need and of technological possibilities. There are three test must meet when firm consider to use core competency as a management strategy.These three test are can provide customer benefits, hard for competitors to imitate and can used widely in the market and product. There are many companies have the potential to build core competency but failed to do so because the top management are unable to conceive the company as anything other than collection of discrete business. Hamel and Prahalad define a business unit as focusing on end products or markets. However, the core competency is not product specific. It can be seen in broad sense which offering a wide rang of competitive advantages.For example, ‘user friendliness’ at Apple Company. Core competency can be enhanced when it is being applied and shared, but it still needs to be nurtured and protected. Core competency is the glue that binds existing business. It is also the engine for new business development. Porter’s view of positioning, cost leadership and differentiation are all based on the final product. This is also the reason why Hamel and Prahalad and Porter have different views on whether the competency as a portfolio of core competency rather than as a portfolio of individual business units.Hamel and Prahalad opinion is that competition is base on core competency much more than product. Glaxo is a company that supports Hamel and Prahalad’s idea. It suggests that if and organization is viewed as separate business focusing on the end product, future opportunities may be missed. Once the existing markets become matured and become a commodity if no new products have been envisaged. It is hard to maintain a core competitive advantage. However, if the organization based itself on core competency they to not diminish, the more they are applied, the more useful they will become.The view of core competency is towards the future, while competition for individual business units focusing on end products is about the present. Considering the organization as a portfolio of core competency take an inside out approach. Hamel and Prahalad’s view only focus on internal analysis of the organization but not the external environment. However, the alternative view is the market based view taken by theorists such as Porter. This supports that in order to gain a competitive advantage, the organization needs to find a successful position for the product or service within the market.This takes an outside in approach as it is based on positioning and then reviewing the organizations value chain to accommodate the external requirements. To sum up, it is very important and essential for a firm to build core competency. Core competency can bring several advantages and allow future opportunities to be identified as skills from different business units and can be combined to creat e new products. It is also a long term strategy and should be combined with the focus on end product to achieve competitive advantage.

Psychological Therapy: Family Therapy

Family Therapy is a type of therapy that focuses on the relationship between family members or partners. While other type of therapy look at individual patients alone, family therapy brings family relationships into the picture. The goal of this therapy is to explore the relationships with other family members that may be the potential cause of the problem or problems of the identified patient (Exploring 503). There are multiple approaches that a family therapist may take. Some of the major techniques include Structural Therapy, Conjoint Therapy, and Strategic Therapy.Structural Therapy, developed by Salvador Minuchin, focuses on the structure of the family including the relationship with siblings and parents. What makes Structural Therapy different from other forms of Family Therapy is that the therapist involved attempts to become very close to the family in which the identified patient/patients is/are in. This helps the therapist to understand on a deeper level the problems existi ng amongst the family. Conjoint Therapy tends to look at the duties that each individual in the family takes on and how they communicate amongst each other.This approach is more common among therapist. The most influential type of therapy, Strategic Therapy, was influenced by the work of Jay Haley. The therapist in this approach leads the therapy sessions by asking questions and starting discussions. This forward approach triggers feelings and actions from the family involved. Which ever approach the therapist takes, all are effective forms of therapy. In some cases, Family Therapy can be risky for therapists if the relationship between family members or couples is tense.Safety is the number one concern for therapist especially in earlier sessions of counseling (Effectiveness of Couple 1). Family therapy can be a very effective form of therapy if the family involved participates fully. The family bond is the most powerful social connection that an individual can have. That is why pe ople with mental illness, substance abuse, or other disorders tend to have had relationship issues with their parents when they were younger. A close emotional tie with your family is key to living a healthy life free of substance abuse and/or risky behaviors.For this reason, Family Therapy can be very effective, especially for teenagers and younger children. One of the biggest issues amongst teenagers and their parents is lack of communication. Teens often live second lives that they tend to hide from their parents and siblings. If trying to solve family issues in individual therapy, the teen can say whatever he pleases about his family. However, when Family therapy is taking place, the teen’s actions and responses with the family can be seen firsthand and problems can then be solved.In Family Therapy, the therapist and induce communication among the family members which can lead to positive results. Communication is key. Once the family can learn to be honest with each othe r, whether it is the teenager and their parents, or the teenager and their sibling, problems caused by miscommunication can be eliminated. Family Therapy can also be useful for families who have children with mental disabilities. This type of therapy can help them understand what exactly their child is going through and how they need to adjust in order to make things better off.Dr. Josephson, a professor and chief of the Division of Child and Adolescent Psychiatry at the University of Louisville School of Medicine, states that â€Å"family therapy can help parents adjust their behavior to best manage their child's condition while a physician or mental health professional treats the child individually with medications or behavioral methods†(Family). Family Therapy can be a very effective form of therapy is because of its lasting effects. Family therapy can last anywhere from three months to three years.However, no matter how long the therapy is, families tend to stay in a well -balanced healthy relationship with each other. When parents see how communication can easily solve family issues, they feel empowered to fix future problems using the same techniques they learned from their family therapy sessions. This allows families to have long lasting hearty relationship. A major sub category of Family Therapy is marriage counseling. According to Dr. Aliso Viejo, less than 5% of divorcing couples actually seek marriage counseling (The Benefits 1).The more common reasons that couples attend marriage counseling include poor communication, financial issues, sexual problems, parenting conflicts, infidelity, anger and substance abuse (Effectiveness 2). However, marriage-counseling uses the same techniques described earlier. Therapist attempt to improve communication and the relationship between partners, instead of attempting to fix individual problems. However, there are exceptions to this. If on of the partners is a heavy alcohol consumer, the therapist may sugge st that the person attend substance abuse meetings or counseling.According to AAMFT, or The American Association for Marriage and Family Therapy, 98% of couples that go through marriage counseling report positive results (Effectiveness 1). With that said, some relationships are just not meant to be and counseling or therapy may be useless. This usually occurs when married couples are seeing other partners secretly and want to end a marriage as soon as they possibly can. Family therapy can be a very effective approach for seeking out problems due to miscommunication amongst a household.Not only does Family Therapy fix the identified patients problem, but the family, whether it is a husband and his spouse or a 5 member family, is better off. The family can also improve their relational skills with each other and even people outside of the family. Either way, when multiple people are working together to fix a problem among a family, positive results will be seen in a shorter amount of time. Works Cited Aliso, Viejo, Dr. â€Å"The Benefits of Marriage Counseling. † Healthy Exchange (2012): n. pag. Print. Carolla, Michael. Effectiveness of Couples Therapy. † Journal of Marraige and Family Therapy (2003): n. pag. Print. Graffenreid, Ellen. â€Å"Family Therapy Is Effective Treatment Tool for Children for Substance Abuse and Conduct Disorders. † Medical News Today. MediLexicon International, 12 Aug. 2005. Web. 30 Nov. 2012. . Myers, David G. Exploring Psychology. New York, NY: Worth, 2011. Print. Nerfer, Barb. â€Å"Effectiveness of Marriage Counseling. † Family Health (2012): 33-35. Print.

Marriage vs. Living Together

According to the statistics, the number of cohabitating couples in our country firmly increases: in 1960 there were only 439,000 of unmarried cohabitants, and in 2000 this number came to 4,736,000 people. Currently, 60-75% of first marriages and 80-85% of re-marriages take place after some period of living together (School Health and Safety). This work is an attempt to examine and discuss the differences between marriage and cohabitation as two most popular forms of interpersonal relationship in our modern society. The first difference is formal procedures and requirements to enter or stop one or another type of relationship. There are no official requirements for people, who want to start or stop living together. However, entering a marriage requires such formalities (depending on the state laws) as a waiting period, medical tests, minimal ages, an official ceremony, receiving marriage certificate, etc. The same can be said about ending a marriage, which has to be formalized with a long and exhausting procedure of legal divorce. Another legal difference is connected with property relations between people who are officially married or just live together. A married couple is supposed to possess their property together and apply legal methods to divide their property in case of a separation. Since cohabitation is not a legal union, there are no legally prescribed procedures for dividing the property between cohabiting partners in case of a breakup. Finally, there’s a difference in legal responsibilities and obligations of those married or cohabiting couples who have children. The offspring born to a married couple become official children of the husband and wife. In such case both parents are obliged to support their children financially till the children reach some certain age. However, in the case of cohabitation the male partner has neither legal rights for parenting nor a legal obligation to support the offspring. There is another group of differences, which is connected with social consequences of marriage and cohabitation. Empirical researches show that cohabiting partners have higher tendency to separate (Ward). Also, married people usually have better opportunities for professional development. But, certainly, a key difference is the absence of commitments in cohabiting relationship, which often brings to various negative outcomes. Some differences are reflecting economic sides of the issue. Specialists found out that married couples usually have better financial situation (Ward). On the other hand, male partners in cohabiting relationships are less stimulated to find some sources of extra income, to earn more money and to make savings or investments. Correspondently, children of unmarried couples are usually supported with poorer financial resources. Finally, there are a number of differences connected with health effects and psychological conditions of married and cohabiting couples. Specialists report that married people express more satisfaction with their relationship and have lower tendency to feel disappointed, depressed, angry, suicidal, etc. At the same time, cohabiting partners are reported to be under much higher risks of alcohol and drug abuse, as well as other mental or emotional abuse (Ward). Undoubtedly, by some reasons marriage may not be a preferable decision for a contemporary couple, and, therefore, the two people can rather opt to live together and give up all the benefits of legal marriage. Nevertheless, when making a choice between marriage and cohabitation it is crucial to consider all important advantages and disadvantages of both types of union, as well as to find out what human values are involved in the relationship between two individuals. Bibliography: â€Å"Cohabitation vs. Marriage.† Georgia State University. School Health and Safety. Ed. Sandra Owen. 30 May 2007 . â€Å"Marriage vs. Cohabitation.† Find Law for the Public. Thomson FindLaw Internet Resource. 30 May 2007 . Ward, Nathaniel. â€Å"Marriage vs. Cohabitation.† My Heritage. Heritage Foundation. 13 Feb. 2007. 30 May 2007 .