Absolute Advantage Versus Comparative Advantage - Free Solution

Question: Describe about the Absolute Advantage Versus Comparative Advantage? Answer: On a Valentines Day greeting cards and roses become necessary commodities. The demand for both the goods rises followed by the rise in price. The price of roses always increases more than the price of cards because of price elasticities. The supply elasticity of greetings card on Valentines Day is more elastic than the supply of roses. This is because manufacturers of greetings card can easily increase its production and stock up greetings card. Thus, the supply of cards is relatively elastic. But roses are perishable and are costly enough to increase its supply just for the Valentines Day. This is why the supply is relatively inelastic. (Png et al., 2008) The government imposes a price ceiling of $11 per dozen roses. Price ceiling is the maximum price that the seller can sell to the buyers. The price ceiling provides gains for buyers but some loss is involved for the sellers. (Objectives for Chapter 8 Price Floors and Ceilings, 2015) The gap between the demand and supply causes a shortage of roses. If monitored properly, then this law can be effective to maintain a reasonable price. 2: In consumer behavior what appears to be an irrational behavior to the outsider may be a rational behavior to the individual himself. In this case, the student who was engaging himself in drinking, a day before his exams may seem to be an irrational individual. The irrational behavior arises when an individual has inadequate reason to act, suffering from emotional distress or cognitive deficiency or when individuals interest differs from their expectation, when situation is out of control or one may be fearful, nervous or full of stress. Here the student might be nervous or stressful about his exam the next day and hence he is depicting an irrational behavior by intoxication. The professor might find this rational as some belief that relieving stress is important for exams. (Ariely, 2011) The student can behave rationally by exercising certain stress free techniques to release his nervousness. This could be done by eating well, sleeping well, preparing well for the exam, if possible exercise too be stress free. All these can relieve stress and make the student behave rationally. The profit maximizing condition is given by: Where MR= Marginal Revenue and MC= Marginal Cost. Total Revenue, TR= P(Q)*Q TR= [240 0.10*Q]*Q TR= 240*Q 0.10*Q2 Now: MR= 240 - 0.2*Q Now from the maximizing condition 240 0.2*Q = 30 240 30 = 0.2*Q Q*= 1050 The 1050 wave runners will St. Martin Rentals rent per day. Profit maximizing price (in $) is: P(Q)= 240 0.10*Q* P(Q)= 240 0.10* 1050 P(Q)= 135 Daily revenue (in $): TR= P(Q)*Q TR= 240*Q*- 0.10*(Q*)2 TR= 240*1050 0.10*(1050)2 TR= 141750 The daily cost (in $) is given by: TC= 30*Q* + 80000 TC= 30*1050 + 80000 TC= 111500 Profit (in $) is obtained by: = TR TC = 141750 111500 = 30250 3: Hot Chocolate Snow cones Anna 6 16 Elsa 16 20 It is clear from the above table that Elsa has absolute advantage in producing both cups of hot chocolate and snow cones in an hour. The opportunity cost of producing 1 cup of hot chocolate per hour is 2.66 for Anna. The opportunity of producing 1 cup of hot chocolate per hour is 1.25 for Elsa. The opportunity cost of producing 1 snow cone per hour is 0.375 for Anna. The opportunity cost of producing 1 snow cone per hour is 0.8 for Elsa. Since the opportunity cost of producing 1 cup of hot chocolate for Elsa (1.25) is lower than that of Anna (2.66), Elsa has comparative advantage in producing hot chocolate per hour. And since the opportunity cost for producing 1 snow cone per hour for Anna (0.375) is lower than that of Elsa (0.8), Anna has comparative advantage in producing snow cones per hour. (Absolute Advantage Versus Comparative Advantage, 2015) Hot chocolate Snow cones Anna 15 8 Elsa 32 20 Clearly Elsa has absolute advantage in producing hot chocolate and snow cones. The opportunity cost of producing 1 snow cone per 3 hour is 1.85 for Anna The opportunity cost of producing 1 snow cone per 3 hour is 1.6 for Elsa. Since opportunity cost for Elsa is lower than that of Anna, Elsa has comparative advantage in producing snow cones. The opportunity cost of producing 1 cup of hot chocolate per 3 hour is 0.53 for Anna. The opportunity cost of producing 1 cup of hot chocolate per 3 hour is 0.625 for Elsa. Since opportunity cost for Anna is lower than that of Elsa, Anna has comparative advantage in producing hot chocolate. Anna specializes in hot chocolate and will sell it to Elsa. On the other hand Elsa specializes in snow cones and will sell it to Anna. In this way they will develop trading relationship be better off. 4: Purchasing a Tig Welder would involve an opportunity cost of the spending $90,000 immediately. There will be a loss of annual interest rate on $90,000 which is 0.05*90,000 = $4500. If $90,000 was lent out then $4500 would have been gained. But purchasing this welder would save only $700 in labor costs per year forever which can save a lot of money in the long run. Hence, this investment can be made. By purchasing a three-dimensional printer, $6500 will be incremented in the revenue per year. But by lending $80,000, an interest of (0.05*80,000) $4000 would have been obtained. This interest rate of return is much lower than the incremental revenue. Thus this investment must be made. By lending out $25000, a return of (1.05*25000) $26250 will be earned. But by organizing this six-sigma training, there will be a one time savings of $26000. Hence, it is not advisable to make this investment. By spending $5000, an interest of $250 is lost and by spending $12000 for the next year, $600 is lost. If $17000 were lent out for two years then there would have been a gain of $18700 which is higher than the return from the completion of the six sigma training of $16000 for one time. Thus, this investment must not be made. 5: A fall in the cost of screen manufacturing by 15%, increases the supply. As producers are now able to sell more quantities of good at the same price. The cost reduction also leads to increase in profit. (net, 2015) Uncertainty regarding the nutritional value of drinking carbonated soda reduces the demand for the same at the existing price. The exchange rate of Canadian dollar in terms of US dollar has increased which implies that Depreciation of Canadian dollar had taken place which implies Canada will now import less and export more. Thus a situation of excess supply arises. (CMS Forex, 2015) The popularity gained by the one inexpensive beef brisket had led to increased demand. This increased demand has resulted in increase in price of beef brisket based on The Wall Street Journal. (CAMPOY and KOPPEL, 2015) References Absolute Advantage Versus Comparative Advantage. (2015).Boundless. [online] Available at: https://www.boundless.com/economics/textbooks/boundless-economics-textbook/international-trade-31/introduction-to-international-trade-124/absolute-advantage-versus-comparative-advantage-493-12589/ [Accessed 22 Feb. 2015]. Ariely, D. (2011).Predictably irrational. [Kennett Square, Pa.]: Soundview Executive Book Summaries. CAMPOY, A. and KOPPEL, N. (2015). Brisket Was Cheap and Delicious; Now Its Expensive and You Have to Wait in Line.The Wall Street Journal. [online] Available at: https://www.wsj.com/articles/brisket-was-cheap-and-delicious-now-its-expensive-and-you-have-to-wait-in-line-1423180291 [Accessed 22 Feb. 2015]. CMS Forex, (2015).Supply and Demand in Currency Trading. [online] Available at: https://www.cmsfx.com/en/forex-education/online-forex-course/chapter-2-fundamental-factors/exchange-rates-supply-and-demand/supply-and-demand/ [Accessed 22 Feb. 2015]. Objectives for Chapter 8 Price Floors and Ceilings. (2015). 1st ed. [ebook] Available at: https://www2.palomar.edu/users/llee/101Chapter08.pdf [Accessed 22 Feb. 2015]. Png, I., Lehman, D., Cheng, J. and Png, I. (2008).Study guide to accompany Managerial economics, third edition, by Ivan Png and Dale Lehman. Malden, MA: Blackwell, Pub. Tutor2u.net, (2015).Tutor2u - Market Supply. [online] Available at: https://tutor2u.net/economics/content/topics/demandsupply/supply.htm [Accessed 22 Feb. 2015].

Explain Why It Is Impossible to Derive An Analytic Essay Example For Students

Explain Why It Is Impossible to Derive An Analytic Essay al Formula For Valuing AmericanPuts. Explain why it has proved impossible to derive an analytical formula for valuingAmerican Puts, and outline the main techniques that are used to produceapproximate valuations for such securitiesInvesting in stock options is a way used by investors to hedge against risk. Itis simply because all the investors could lose if the option is not exercisedbefore the expiration rate is just the option price (that is the premium) thathe or she has paid earlier. Call options give the investor the right to buy theunderlying stock at the exercise price, X; while the put options give theinvestor the right to sell the underlying security at X. However only Americaoptions can be exercised at any time during the life of the option if the holdersees fit while European options can only be exercised at the expiration rate,and this is the reason why American put options are normally valued higher thanEuropean options. Nonetheless it has been proved by academics that it isimpossible to derive an analytical formula for valuing American put options andthe reason why will be discussed in this paper as well as some main suggestedtechniques that are used to value them. According to Hull, exercising an American put option on a non-dividend-payingstock early if it is sufficiently deeply in the money can be an optimal practice. For example, suppose that the strike price of an American option is $20 and thestock price is virtually zero. By exercising early at this point of time, aninvestor makes an immediate gain of $20. On the contrary, if the investor waits,he might not be able to get as much as $20 gain since negative stock prices areimpossible. Therefore it implies that if the share price was zero, the putwould have reached its highest possible value so the investor should exercisethe option early at this point of time. Additionally, in general, the early exerices of a put option becomes moreattractive as S, the stock price, decreases; as r, the risk-free interest rate,increases; and as , the volatility, decreases. Since the value of a put isalways positive as the worst can happen to it is that it expires worthless sothis can be expressed as where X is the strike price Therefore for an American putwith price P, , must always hold since the investor can execute immediateexercise any time prior to the expiry date. As shown in Figure 1,Here provided that r 0, exercising an American put immediately always seems tobe optimal when the stock price is sufficiently low which means that the valueof the option is X S. The graph representing the value of the put thereforemerges into the puts intrinsic value, X S, for a sufficiently small value ofS which is shown as point A in the graph. When volatility and time toexpiration increase, the value of the put moves in the direction indicated bythe arrows. In other words, according to Cox and Rubinstein, there must always be somecritical value, S`(z), for every time instant z between time t and time T, atwhich the investor will exercise the put option if that critical value, S(z),falls to or below this value (this is when the investor thinks it is the optimaldecision to follow). More importantly, this critical value, S`(z) will dependon the time left to expiry which therefore also implies that S`(z) is actually afunction of the time to expiry. This function is referred to, according toWalker, as the Optimum Exercise Boundary (OEB). .u8fb39267f2737d903ed0255e8e278e4f , .u8fb39267f2737d903ed0255e8e278e4f .postImageUrl , .u8fb39267f2737d903ed0255e8e278e4f .centered-text-area { min-height: 80px; position: relative; } .u8fb39267f2737d903ed0255e8e278e4f , .u8fb39267f2737d903ed0255e8e278e4f:hover , .u8fb39267f2737d903ed0255e8e278e4f:visited , .u8fb39267f2737d903ed0255e8e278e4f:active { border:0!important; } .u8fb39267f2737d903ed0255e8e278e4f .clearfix:after { content: ""; display: table; clear: both; } .u8fb39267f2737d903ed0255e8e278e4f { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u8fb39267f2737d903ed0255e8e278e4f:active , .u8fb39267f2737d903ed0255e8e278e4f:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u8fb39267f2737d903ed0255e8e278e4f .centered-text-area { width: 100%; position: relative ; } .u8fb39267f2737d903ed0255e8e278e4f .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u8fb39267f2737d903ed0255e8e278e4f .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u8fb39267f2737d903ed0255e8e278e4f .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u8fb39267f2737d903ed0255e8e278e4f:hover .ctaButton { background-color: #34495E!important; } .u8fb39267f2737d903ed0255e8e278e4f .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u8fb39267f2737d903ed0255e8e278e4f .u8fb39267f2737d903ed0255e8e278e4f-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u8fb39267f2737d903ed0255e8e278e4f:after { content: ""; display: block; clear: both; } READ: George Orwell Research EssayHowever in order to be able to value an American put option, we need to solvefor the put valuation foundation and then optimum exercise boundary at the sametime. Yet up to now, no one has managed to produce an analytical solution tothis problem so we have to depend on numerical solutions and some techniqueswhich are considered to be good enough for all practical purposes. (Walker,1996)There are basically three main techniques in use for American put optionvaluations, which are known as the Binomial Trees, Finite Difference Methods,and the Analytical Approximations in Option Pricing. These three techniqueswill be discussed in turns as follows. Cox et al claim that a more realistic model for option valuation is one thatassumes stock price movements are composed of a large number of small binomialmovements, which is the so-called Binomial Trees (Hull, p343, 3rd Ed). Binomial trees assume that in each short interval of time, , over the life ofthe option a stock price either moves up from its initial value of S to , ormoves down to . In general, ; 1 and ; 1. The probability of an up movementwill be denoted by thus, the probability for a down movement is . The basicmodel of this simple binomial tree is shown in Figure 2. Furthermore, the risk-neutral valuation principle is also in use when using a binomial tree, whichstates that any security dependent on a stock price can be valued on theassumption that the world is risk neutral. Therefore the risk-free interest rateis the expected return from all traded securities and future cash flows can bevalued by discounting their expected values at the risk-free interest rate. Theparameters p, u, and d must give correct values for the mean and variance ofstock price changes during a time interval of length . By using the binomial tree, options are evaluated by starting at the end of thetree (that is time T) and working backward. The value of the option is known attime T. As a risk-neutral world is being assumed, the value at each node at timeT can be calculated as the expected value at time T discounted at rate r for atime period . Similarly the value at each node at time T can be calculated asthe expected value at time T discounted for a time period at rate r, and so on. When we are dealing with American options, it is necessary to check at eachnode to see if early exercise is optimal rather than holding the option for alonger while. Therefore by working the binomial backward through all the nodes,the value of the option at time zero is obtained. For example, consider a five-month American put option on a non-dividend-payingstock when the stock price is $50, the strike price is $50, the risk-freeinterest rate is 10% per annum, and the volatility is 40% per annum. With ourusual notation, this means that S = 50, X = 50, r = 0.10, = 0.40, and T = 0.4167. Suppose that we break the life of the option into five intervals of length onemonth (= 0.0833 year) for the purposes of constructing a binomial tree. Then =0.0833 and using the formulas,The top value in the tree diagram above shows the stock price at the node whilethe lower one shows the value of the option at the node. The probability of anup movement is always 0.5076; the probability of a down movement is always0.4924. Here the stock price at the jth node (j = 0, 1, , i) at time is calculated as. Also the option prices at the penultimate nodes are calculated from theoption prices at the first final nodes. First we assume no exercise of theoption at the nodes. This means that the option price is calculated as thepresent value of expected option price in time . For example at node E theoption price is calculated as while at node A it is calculated asThen it is possible to check if early exercise of the option isworthwhile. At node E, the option has a value of zero as both the stock priceand strike price are $50. Thus it is best to wait and the correct value at nodeE is $2.66. Yet the option should be exercised at node A if it is reachedbecause the option would be worth $50.00 $39.69 or $10.31, which is obviouslyhigher than $9.90. Options in earlier nodes are calculated in a similar way. .u48a6e2f413b325582bef2fadab37c777 , .u48a6e2f413b325582bef2fadab37c777 .postImageUrl , .u48a6e2f413b325582bef2fadab37c777 .centered-text-area { min-height: 80px; position: relative; } .u48a6e2f413b325582bef2fadab37c777 , .u48a6e2f413b325582bef2fadab37c777:hover , .u48a6e2f413b325582bef2fadab37c777:visited , .u48a6e2f413b325582bef2fadab37c777:active { border:0!important; } .u48a6e2f413b325582bef2fadab37c777 .clearfix:after { content: ""; display: table; clear: both; } .u48a6e2f413b325582bef2fadab37c777 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u48a6e2f413b325582bef2fadab37c777:active , .u48a6e2f413b325582bef2fadab37c777:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u48a6e2f413b325582bef2fadab37c777 .centered-text-area { width: 100%; position: relative ; } .u48a6e2f413b325582bef2fadab37c777 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u48a6e2f413b325582bef2fadab37c777 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u48a6e2f413b325582bef2fadab37c777 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u48a6e2f413b325582bef2fadab37c777:hover .ctaButton { background-color: #34495E!important; } .u48a6e2f413b325582bef2fadab37c777 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u48a6e2f413b325582bef2fadab37c777 .u48a6e2f413b325582bef2fadab37c777-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u48a6e2f413b325582bef2fadab37c777:after { content: ""; display: block; clear: both; } READ: Contrast Of Romeo And Juliet An West Side Story EssayAs we keep on calculating backward, we find the value of the option at theinitial node to be $4.48, which is the numerical estimate for the optionscurrent value. However in practice, a smaller value of would be used by whichthe true value of the option would be $4.29. (Hull, p347, 3rd Ed)The second technique that is commonly used is the so-called Finite DifferenceMethods. These methods value a derivative by solving the differential equationthat the derivative satisfies. The differential equation is converted into aset of difference equations and the difference equations are solved repeatedly. For instance, in order to value an American put option on a non-dividend-payingstock by using this method, the differential equation that the option mustsatisfy isThe Finite Difference Methods are similar to tree approaches inthat the computations work back from the end of the life of the derivative tothe beginning. There are two different methods involved; one is called theExplicit Finite Difference Method and the other is the Implicit FiniteDifference Method. The former is functionally the same as using a trinomialtree. The latter is more complicated but has the advantage that the user doesnot have to take any special precautions to ensure convergence. The maindrawback of these methods is they cannot easily be used in situations where thepay-off from a derivative depends on the past history of the underlying variable. Finally there is also an alternative to the numerical procedures which is knownas a number of analytic approximations to the valuation of American options. The best known of these is a quadratic approximation approach proposed byMacMillan and then extended by Barone-Adesi and Whalley. This method involvesestimating the difference, v, between the European option price and the Americanoption price since v must satisfy the differential equation for both. They thenshow that when an approximation is made, the differential equation can be solvedusing standard methods. The techniques mentioned in this paper are those commonly used in practise. Although they are not perfect, they are still considered good enough forpractical purposes. So far no one has managed to create a direct analyticalvaluation method for valuing American put options. Category: Business

What Extent Can Virtual Learning Environments Essay Example

What Extent Can Virtual Learning Environments? Essay There has been a significant increase in the number of students enrolled in universities in the United Kingdom over the last two decades (Saunders and Gale, 2012:847). With a larger number of students, this results in larger class sizes in many institutions. Larger classes with traditional face-to-face teaching may not be efficient enough for students to obtain sufficient knowledge. A solution to this problem is the use of virtual learning environments (VLEs). Shea and Bidjerano (2010, cited in Matzat, 2013:40) stated that online and blended learning is likely to become an important part of the educational system. According to Zhang and Xie (2012:2236), nowadays, technology has developed to such a stage where high speed internet and broadband networks allow the access of actual laboratory resources. This will allow students to access laboratory tools and high performance software from their homes. Reid (2001, cited in Khorsandi et al, 2012:481) reported that there have also been the development and use of online faculty evaluations for students. Virtual learning environments, as defined by Leese (2009:72), are described as an environment which is computer-based and involves the sharing of information between learners and tutors. This essay will assert that using VLEs in an efficient manner can help improve the learning experiences of the student and also encourage behavior of students to take part in and out of class activities. The first part of this essay will look at the positive aspects of VLEs starting with how they are beneficial to students and teachers, then how VLEs encourage students to engage with in and out of class activities, and lastly how VLEs can be used to modify and enhance traditional face-to-face teaching in higher education. To begin with, there are many benefits that both students and teachers can gain from using VLEs. We will write a custom essay sample on What Extent Can Virtual Learning Environments? specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on What Extent Can Virtual Learning Environments? specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on What Extent Can Virtual Learning Environments? specifically for you FOR ONLY $16.38 $13.9/page Hire Writer VLEs contain many features, to name a few they include access to course materials, assessments, podcast, and discussion board. In a study by Saunders and Gale (2012:857), 90 % of students found that access to course materials through the use of VLEs was ranked highly for enhancing the learning experience. The reason for this was because VLEs allowed all students to gain access to the course material flexibly even in large classes. Furthermore students who missed the lecture could also review their class materials and test their understanding. In another study by Lonn and Teasley (2009:91), the findings report that students find podcast material to be beneficial to their studying. Podcast materials are used for reviewing concepts and issues that were presented in lectures. Once again, for students who missed some lectures they could still acquire the knowledge, issues and concepts that were presented in class. At the end of a course, VLEs can still be used for gathering teaching evaluations. From Khorasandi et al (2012:483), the results showed that students preferred performing evaluations online. Two of the main reasons why the students preferred online evaluations were because of anonymity and privacy. Apparently, it can be seen that VLEs benefit both students and teachers because it allows flexibility for students to access materials and allowing privacy and anonymity in performing evaluations. According to Leese (2009), it has become important that students need to develop certain skills in order to succeed in higher education. The objective of the study was to encourage student engagement in and out of class activities in order to obtain certain skills through the use of VLEs. At the end of the study, students commented that they were able to acquire a number of skills including using technology, teamwork, and presentations. Zhang and Xie (2012:2236) also reported that VLE helped students engage in investigation of authentic problems. Through the use of high speed internet, students could access laboratory tools and high performance software which aid their out of class assignments. Seemingly, it can be seen that technology and the internet can encourage behavior of student to engage in and out of class activities. As living in the 21st century the internet performs a considerable role. Supposedly, it is able to provide access to many resources from serious educational knowledge to humorous entertainment; it can change and enhance traditional face-to-face teaching in so many ways. With the help of VLEs course materials can be accessed easily and students can always review materials through podcasts, it is time for instructors to change their teaching styles not only improve the performance of students in and out of class but also get higher outcomes . From Heaton-Shrestha’s et al (2005:383) study, the staff reported that VLE had an impact on their teaching processes. Some staff had to change the way materials were prepared and designed moreover, how feedback was assessed and given to their students. According to Lonn and Teasley (2009:92), podcasting can allow instructors to focus on the main concepts and devote the time to other teaching strategies. With more time available, instructors are able to devote more time into face-to-face discussions and other innovative activities. With some changes add on the traditional face-to-face teaching, learning experience of students can be greatly enhanced. In conclusion, the essay has shown that VLEs can improve student engagement and performance. Used in an efficient manner, it can help improve the learning experiences of the students and also encourage students to perform better with in and out of class activities. Nevertheless, VLEs may not be able to replace the face-to-face lectures but when it is used in an efficient manner, VLE enhances the students’ learning. Students have found VLEs useful for downloading course materials and accessing multiple choice quizzes and case studies. Furthermore, students are able to acquire a number of skills through VLEs such as teamwork, presentation skills and also development in process of learning. While there are many factors that affect student interactions with VLEs, it can be said that VLEs greatly enhance the students’ learning experience in higher education. It is also important to know that with the aid of VLEs, the traditional face-to-face teaching must be modified. In future, instructors must change their teaching styles from merely lectures to student-centered approaches and create better environments for a wide variety of learning opportunities as a whole. Words Count: 1021 References * Heaton-Shrestha, C. , Edirisingha, P. , Burke, L. and Linsey, T. (2005). Introducing a VLE into campus-based undergraduate teaching: Staff perspectives on its impact on teaching. International Journal of Educational Research, 43, 370-386. Khorsandi, M. , Kobra, A. , Ghobadzadeh, M. , Kalantari, M. and Seifei, M. (2012). Online vs. Traditional Teaching Evaluation: A Cross-Sectional Study. Procedia Social and Behavioral Sciences, 46, 481-483. Leese, M. (2009). Out of class—out of mind? The use of a virtual learning environment to encourage student engagement in out of class activities. British Journal of Educational Technology, 40(1), 70-77. Lonn, S. and Teasley, S. D. (2009). Podcasting in higher education: What are the implications for teaching and learning? Internet and Higher Education, 12, 88-92. Maltby, A. and Mackie, S. (2009). Virtual learning environments – help or hindrance for the ‘disengaged’ student?. ALT-J, Research in Learning Technology, 17(1), 49-62. Matzat, U. (2013). Do blended virtual learning communities enhance teachers professional development more than purely virtual ones? A large scale empirical comparison. Computers and Education, 60, 40-51. Saunders, F. C. nd Gale, A. W. (2012). Digital or didactic: Using learning technology to confront the challenge of large cohort teaching. British Journal of Educational Technology, 43(6), 847-858. Sharpe, R. , Benfield, G. , Roberts, G. and Francis, R. (2006). The undergraduate experience of blended e-learning: a review of UK literature and practice. York: The Higher Education Academy. Zhang, X. S. and Xie H. (2012). Learning by Doing Approach in the Internet Environment to Improve the Teaching Efficiency of Information Technology. Procedia Physics, 24, 2231-2236.

Sample ACT Essay

Sample ACT EssayIf you need to write a sample ACT essay, you've come to the right place. The idea of preparing to take the standardized exam isn't a piece of cake. The last thing you want to do is to come up with ideas or duplicate them. Therefore, you want to make sure that all of your ideas are original.Writing an essay on a particular topic is not only difficult but it is also time consuming. You might find yourself looking for the perfect topic when there are so many things you don't know about. You don't want to be caught off guard by something. Not only can this distract you from the work at hand, but it can also be a pain because you will be wondering what to write next.Act essay examples are one way for you to gain knowledge about what the ACT requires for students to pass the test. Knowing this information can help you out when you are writing your own essay. It will also give you confidence knowing that this can be done.ACT essays generally have a few different categories. These include essays about personal characteristics and passions, essays about education, and essays about significant events in your life. While you may want to think about what each of these topics mean to you, you may not know exactly what these topics mean. Therefore, the sample ACT essay will give you more insight about how you should compose your essays.The ACT essay samples also give you the opportunity to learn about using the word count required to pass. Most ACT tests have a maximum number of words that a student is allowed to use. This can make it easier for you to ensure that you don't stray off the mark. All you have to do is review the guidelines to make sure that you do not use more words than the ACT allows.Finally, the ACT essay samples to give you ideas about creating your own format. There are many options that you can choose from. You can make your own essay, use the section names that the ACT uses, or you can even write a longer essay and use the sections that a llow. This will give you a variety of options that you can use in order to write a better essay.You can download the ACT essay samples for free from the ACT website. You will get access to all of the topics and essay topics that you can imagine. Some of the subjects and essay topics included are essay on religion, essay on life experiences, essay on different kinds of passions, essay on extracurricular activities, essay on your strengths and weaknesses, essay on the role of the test in your life, and essay on family life. There are so many different subjects that you can choose from that the more topics you can think of the better.After you download the ACT essay samples, all you have to do is study them over the weekend and then go to class. Then you will be ready to take the ACT. With a little preparation, you can have a better chance of passing your test.

ACT Question of the Day Complete Guide

ACT Question of the Day Complete Guide SAT / ACT Prep Online Guides and Tips Are you studying for the ACT? One great way to add some extra prep to your day is with ACT Questions of the Day. They are a fast and easy way to get in some additional prep and figure out where your strengths and weaknesses lie. Read on to find out where you can get the best ACT Questions of the Day, and how to use them most effectively to maximize your ACT score. Where to get the Best ACT Questions of the Day (QOTD) Online The best ACT QOTD can be found on the official ACT site. Every day they present a new question with a detailed explanation of the correct answer. Here’s an example of an official QOTD grammar question embedded within a larger passage. You can also find decent quality questions here. This site also gives you an explanation of the correct answer, though it’s not always as detailed as the explanations of the official QOTD. The following is an algebra Question of the Day. On your Smartphone You can conveniently access ACT test prep materials on your phone. For Android users, download the ACT QOTD app here. This app makes it easy to access ACT questions anywhere at any time, and it lets you save your answers and look back at any previous ACT questions you may have missed. For iPhone users, you can download the free ACT Student App. While this app is more geared towards general practice than QOTD, you can use it to answer practice questions and learn vocab words. As you can see, it’s as easy to access QOTD as it is to add an extra ACT prep question to your daily routine. So how can adding a question a day help you prepare for the ACT? How to Prep Effectively with QOTD One question a day may not seem like it could accomplish that much, and it’s definitely not a replacement for more extensive study. However, it can be very effective in exposing you to a great variety of ACT questions. ACT Question of the Day involves all types of questions, including English, Math, Reading, and Science (but excludes Writing), so you can get a sense of what you know well and what you need to study up on. Maybe an algebra question is a breeze for you, but coordinate geometry leaves you feeling lost? Mark down any difficult questions or mistakes in your notebook, and use this discovery as a launching off point to overcome your weaknesses. Even if you got the answer correct, make sure you understand exactly why you got it right and can confidently answer similar types of questions that test the same skill. By understanding your answers and analyzing your mistakes, you’ll be able to figure out your strengths and weaknesses and customize your ACT study plan so it’s most effective for you. Start early - even months ahead of your test date. This will ensure you get exposed to the most variety of questions. Always set aside time to do them as a daily habit - if they start to pile up and get backlogged, there’s not a big chance you’ll have time to go back to them in your busy schedule! ACT QOTD are most effective when they are just that - questions of the day, every day. A Few Limitations of ACT QOTD One limitation of ACT Question of the Day is that you can’t choose the difficulty level of the questions, easy, medium, or hard. However, you can try to determine the difficulty level on your own, as part of analyzing your strengths and weaknesses and figuring out where you need the most practice. You also can't select questions by subject - you can't get an ACT Math Question of the Day, for example. If you ignore your strengths and weaknesses across subjects - and within a subject - you won't make as much progress. Unlike practice tests, QOTD are a quick injection of test prep to your day - they are not helpful for understanding the timing and pacing of the test, or how to keep up your stamina and focus. Taking a practice test under simulated testing conditions is best for that. Finally, they are not helpful for practicing for the ACT essay, if you’re taking the ACT Plus Writing. To Sum Up†¦ ACT QOTD are effective for preparing you for the ACT a little everyday, as well as allowing you to encounter a variety of questions and figure out your strengths and weaknesses. They are fast and convenient, though not a replacement for your general ACT prep. Start early and you’ll be familiar with the types of questions on the ACT by the time you take the real test! What’s Next? To best prep for the ACT, you need official ACT practice tests and strategies for effective studying. You’re in luck! Check out our free ACT practice tests and learn how to use them to maximize your score. Aiming for that top composite score of 36? We have a comprehensive guide for how to achieve your perfect score by a 36 full scorer. Read about what he did to prep and how you can use the same approach. Want to improve your ACT score by 4+ points? Download our free guide to the top 5 strategies you need in your prep to improve your ACT score dramatically.

The Performance of Microsoft Corporation and Oracle Corporation Essay

The Performance of Microsoft Corporation and Oracle Corporation - Essay Example Oracle, on the other hand has a net income of almost half as of with Microsoft, but has shown a growth of 17% which shows the company is progressing in the right direction. Account Receivables According to the balance sheets, the accounts receivable was $14,987 million in 2011 and $15780 million in 2012. The percentage of debtors compared to total revenues were 21.42 % (14987/69943 * 100) in 2011 and again 21.40 % (15780 /73723 *100) in 2012. On the other hand, Oracle, had accounts receivable of $6,628 million in 2011 and $6377 million in 2012. This as a percentage of total revenues was 18.6 % (6628/35622 *100) in 2011 and came down to 17.18 % (6377/37121 *100) in 2012. This indicates a tightening policy and Oracle started collecting cash quickly. Hence, Oracle has shown a positive trend making a good impact on its current assets, and in case of liquidation, it receives cash faster and might be offering cash discounts in order to speedup the collection. And as for Microsoft has been consistent with its debtors policy and has not made much effort in reducing the debtors collection period. Account Payables The accounts payable of Microsoft for 2011 were $4197 million and $4175 million in 2012. For Oracle, the creditors figure was $494 million in 2011 and $438 million in 2012. The accounts payable for Oracle was significantly lower. Also calculated as a percentage of the total costs the accounts payable for Oracle were significantly lower. This indicates that Oracle pays of its creditors earlier. This might be possible so that Oracle can avail cash discounts and not keep long credit term period. Inventory Looking at the past years balance sheet, it can be concluded that both of the firms were successful in reducing their inventory level over the past...However, this is not of due importance, the respective companies have been consistent with this over the years and this will not affect our analysis. Looking at the past years balance sheet, it can be concluded that both of the firms were successful in reducing their inventory level over the past two years. Microsoft reduced their inventory level from $1,372 million in 2011 to $1,137 million in 2012. This shows a decrease in inventory level of 17% over the year. On the other hand, Oracle was able to reduce the inventory level by 48% which is almost the half from the previous year. The company’s inventory level declined from $303 million in 2011 to $158 million in 2012. The above comparison of inventory level shows that Oracle has been able to reduce its cost of holding inventory such as cost to insure, track and storage cost. An inventory shows the firm’s investment tied up in form of stock until the good is sold. It also indicates that Oracle would have a better quick ratio which is a better measure of liquidity than current ratio. This ratio excludes inventory from current ratio as it is difficult for firms to convert inventory into stock. Also, Oracle might have a better inven tory management system as they might be using just-in-time method for their inventory, where company receives inventory only when needed or they might have a better a sales forecast in comparison to Microsoft.

Management practice and ethical issues in the healthcare industry Research Paper

Management practice and ethical issues in the healthcare industry - Research Paper Example The healthcare industry can take cues from bank strategies to find a solution. There are also common elements that can be applied across all types of organizations including healthcare. Financial constraints often force managements to compromise on health and medical care. The suggestions provided at the end of the paper may help the industry to overcome or reduce this unethical practice. Keywords: management practice, cost reduction, ethics, healthcare and banking industry Management practice and ethical issues in the healthcare industry There is a simple commonly used and popular adage that ‘health is wealth’. If a person is healthy, then he or she can be in a position to lead a comfortable or even wealthy lifestyle. Hence it is the individual responsibility to see that one’s health is maintained. Unfortunately this does not happen in real life situations and many factors like lifestyle, pollution, and genetic disorders can cause serious and chronic diseases. Wh en this happens, it is natural that a person resorts to healthcare providers in order to find a cure. But ironically, the rising costs of healthcare especially in the United States have come to such a stage that many are not able to meet their healthcare expenses if needed. This in turn forces the management of healthcare institutions to force physicians (and others directly involved in patient care) to cut down on expenses. In other words, the money spent on a patient should not exceed the capacity of that person to pay for it. This paper looks at the ethical viewpoint on such a stand taken by the management. It is true that most businesses follow the same strategy of cutting down or optimizing their spending. But it is felt that the area of health care is different because it is considered to be a divine profession, an example being the Hippocrates Oath. But management practices (for practical purposes) often do not see it that way. Denying a patient due and diligent healthcare ca n be hence considered to be unethical. There may be many areas in the area of healthcare where ethical issues may come up. The area of study here looks specifically at the management practice of cutting costs that could result inadequate healthcare which could result in not curing the disease and even death or disability to the patient. In the process, the paper will look at the same management practice (mentioned above) in a non-medical industry and provide practical suggestions as to how effective cost cutting can be done without compromising on quality of service. The industry selected in this case will be the banking and finance industry. Conflict between costs and patient care – ethical issues As mentioned earlier, financial constraints due to various reasons (that will be discussed in this paper) will result between a conflict between cost cutting and patient care. The following sections will review the various aspects of management practices (with focus on cost cutting or reduction) and its ethical repercussions. The importance of management Management of resources, whether human, finance, raw materials, finished products or any other factors associated with human endeavor is essential for survival and success. This is true whether is the organization is formed for profit or not. In fact the concept of management is so important that many theories and practices have evolved over the years.