The Data and Methodology used in the Hang Seng Index - Free Essay Example

Sample details Pages: 9 Words: 2665 Downloads: 10 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? In this chapter, there is description of data used in this study, which are The Hang Seng Index (HSI), The Hongkong and Shanghai Banking Corporation Holding plc (HSBC Hldgs) and Oriental Press Group Limited. After that, methodologies of predictions based on past volatilities and GARCH class conditional volatility models are presented. Finally, I will talk about how to evaluate the forecasting performances in according to select the best models. Now, let me introduce the data analyzed in my study. 3.1 Data description 3.1.1 The Hang Seng Index (HSI) Global investors treat the Hang Seng Index (HSI) as an indicator of the performance of the stock market in Hong Kong. The HSI was publicly launched on 24 November 1969 and is one of the earliest stock market indexes in Hong Kong. It is now maintained by Hang Seng Indexes Company Limited, which is a subsidiary of Hang Seng Bank, one of the constituent companies. The HSI is a freefloat-adjusted market capitalization weighted stock market index. : The current price at Day t : The closing price at Day t-1 IS : The number of issued shares FAF : Freefloat-adjusted Factor, which is between 0 and 1 CF: Cap factor, which is between 0 and 1 It consists of 43 constituent companies which represent around 60% of the total market capitalization of the Hong Kong Stock Exchange (HKEX). In order to show the price movements of the major sectors of the market clearer, the HSI constituent stocks are grouped into four sub-indexes: Properties, Utilities, Commerce and Industry, and Fina nce. Normally, qualified potential constituents are companies with a primary listing on the Main Board of the Hong Kong Stock Exchange (HKEX). In recent years, more and more mainland China companies listed on the Hong Kong Stock Exchange (HKEX), they can also be one of the qualified potential constituents if they meet several conditions. The companys total ordinary share capital must be in the form of H shares, the shares of the company incorporated in mainland China that are traded on the Hong Kong Stock Exchange. And also, the company needs to complete the process of Share Reform first. As a result, the company has no unlisted share capital. As the market capitalization, the turnover ranking and the financial performances of the companies may change in different periods, the list of constituent stocks is reviewed quarterly. In this paper, the daily closing Hang Seng Index and the weekly Hang Seng Index are used. The data set ranging from 1 July 1997 to 30 June 2008 is retrie ved from Datastream, a U.K. incorporated data service company. The data set is partitioned into the in-sample estimation periods 1997 2007, the out-of-sample forecast periods 2007 2008. This separation provides 2467 and 522 in-sample observations for the daily series and weekly series respectively. For out-of-sample observations, there are 246 for daily series and 52 for weekly series. In order to obtain more accurate results, public holidays and special incidents leading the public announcement of non-trading, such as the black signal of the Rainstorm Warning System and no. 8 storm force wind signal of Hong Kongs Tropical Cyclone Warning Signals. During this period, there were quite a lot of economic events affecting the stock market in Hong Kong. Hong Kong is one of the victims of 1997 Asian Financial Crisis. After the HSI peaked at 16820, it was attacked by international speculators, leading to a 50% plunge. In 1998, the Hong Kong government intervention on stock market to p urchase component shares supported the market and the HSI rebounded to 18000. The rise in both the interest rate and the crude oil price burst the dot-com bubble in 2000. The HSI dropped to 14000 and then fluctuated between 14000 and 16000. 911 Incident occurred in 2001. The HSI kept falling and the minimum was 8894. The stock market started to recover after Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA) was signed on 29 June 2003. In August 2007, mainland China declared the plan to allow part of citizens to invest on Hong Kong market directly. In October, stimulated by the news of AH stock hedging program, the HSI break through 30000. Unfortunately, the HSI was affected by the fallen chain of major stock markets in the world and dropped 2061.23 on 22 January 2008. During this period, the average point of the HSI is 14313.39 and the stand deviation is 4563.68. The lowest point in these eleven years was 6660.42 which occurred on 13 August 1998. 31638.22 was the highest point and occurred on 30 October 2007. Don’t waste time! Our writers will create an original "The Data and Methodology used in the Hang Seng Index" essay for you Create order 3.1.2 HSBC hldgs Besides the HSI, one of the constituent stocks is randomly selected. At the beginning of the selection process, each constituent stock is assigned a number, 1 43. Then, a number, between 1 43, is randomly generated by Excel. If the assigned number of the company matches the generated number, that company will be selected and studied in this paper. The Hongkong and Shanghai Banking Corporation Holding plc (HSBC Hldgs) is the selected constituent company and belongs to the Finance Sub-indexes. HSBC hldgs is one of the most favourite stocks in Hong Kong. In 1865, it was founded in Hong Kong in March and in Shanghai one month later. The banks headquarter was in Hong Kong until 1992. Then it moved to London as a condition of the acquisition of Midland Bank in UK, and also due to the handover of Hong Kongs sovereignty. Currently, HSBC hldgs is both the worlds largest banking and financial services group and the 5th largest stock in the Hong Kong Stock Exchange (HKEX) by market capit alization. HSBC hldgs is also listed on the Bermuda, New York, London and Paris Stock Exchanges. It is a constituent of the FTSE 100 Index and the largest company listed on the FTSE. In 2010, CEO Michael Geoghegan moved to Hong Kong since HSBC hldgs focuses on Asia more now. Similarly, both daily and weekly closing prices of HSBC hldgs ranging from 1 July 1997 to 30 June 2008 are retrieved from Datastream. The data set is also divided into the in-sample estimation periods 1997 2007 and the out-of-sample forecast periods 2007 2008. The number of in-sample observations and out-of-sample observations for both daily and weekly series are also the same as the HSI series and the non-trading days are excluded. For in-sample observations, there are 2467 for daily series and 522 for weekly series. For out-of-sample observations, there are 246 for daily series and 52 for weekly series. During this period, the average closing price of HSBC hldgs is 96.92 and the stand deviation is 23.2 6. The lowest closing price in these eleven years was 40.48 which occurred on 21 September 1998. 140.586 was the highest closing price and occurred on 15 October 2007. 3.1.3 Oriental Press Group Limited In this paper, another stock which is not the constituent stock is also studied. The stock is selected randomly like the chosen constituent stock. Oriental Press Group Limited is selected and is incorporated in Hong Kong. The group takes part in the publication of daily newspapers, Oriental Daily News and The Sun, and The Sun Racing Journal. Oriental Daily News was first published in 1969. Today, the paper is at the top in the daily circulation and has a record readership of around 3,100,000. Unlike Oriental Daily News, The Sun targets at a younger and fresher reader groups. The Sun was published since 1999, and can also be found outside Hong Kong. By considering a lot of Hong Kong people living in North America and in order to develop the market of The Sun, there is a North America version in New York and Toronto. The Sun Racing Journal was established in 1991. It is one of the major horse racing magazines in Hong Kong. Like the HSI and HSBC Hldgs, both daily and weekly clos ing prices of Oriental Press Group Limited ranging from 1 July 1997 to 30 June 2008 are retrieved from Datastream. The data set is also divided into the in-sample and the out-of-sample with the same period as the above two series. The number of in-sample observations and out-of-sample observations for both daily and weekly series are also equal to as that of the HSI series and HSBC hldgs series. During this period, the average closing price of Oriental Press Group Limited is 1.499 and the stand deviation is 0.657. The lowest closing price in these eleven years was 0.533 which occurred on 23 June 1998. 3.175 was the highest closing price and occurred on 14 January 2004. 3.1.4 Transformation of Data As this paper is studying the volatility, I focus on the returns of the HSI and the stocks rather than the index and closing prices. Therefore, a transformation of data is needed before modeling. Data are transformed into daily returns by taking the first difference of the natural logarithm of the daily index and closing prices. : The daily return : The current price at Day t : The closing price at Day t-1 Mean equals to 0.00138 and stand deviation is 0.0176. Mean equals to 0.00163 and stand deviation is 0.0169. Mean equals to -0.00032 and stand deviation is 0.0315. 3.2 Methodology Stationarity If a time series can be estimated using time series models, it must be a stationary process, as non-stationary process cannot be studied directly. If the joint probability distribution of time series data keeps constant when time is moving, this data set can be said to be stationary and the mean and variance do not change over time. On the contrary, a non-stationary process whose joint probability keep changing in the period. The mean and variance vary at different time points. However, usually after a non-stationary series has been transformed, such as differencing or log-difference, the series become stationary. Accordingly, it is necessary to test whether the data set is under a stationary process before any further analyzing. The Augmented Dickey and Fuller (ADF) test is employed in this paper. The ADF test is an improved version of the Dickey and Fuller (DF) test. Both tests null hypotheses are the series with a unit root, which means the series is non-stationary. The DF te st is only based on a simple regression. where the residuals are followed the Dickey-Fuller Distribution. The hypothesis testing is The test statistic is After that, comparing the test statistic with the relevant critical value for the Dickey-Fuller test, if the value is larger than the critical value, the null hypothesis can be rejected, and the model is stationary; vice verse. The ADF test is based on a more complicated more. where is a constant, is the coefficient of a deterministic trend and is the summation of the lag orders of the autoregressive process. Historical mean Probably, the historical mean provides the easiest way to forecast the volatility. All the in-sample observations are used and equally weighted to forecast. where is the number of out-of-sample observations Moving average Under moving average method, the forecast of the volatility is given by an unweighted average of the in-sample observations. Unlike the historical mean method, not all the in-sample observations are used. The average is based on the in-sample observations over a particular time interval of fixed length. where T is called the moving average period or rolling window. Three different lengths are considered for each frequency. For daily data, three months, six months and one year are chosen. For monthly data, six months, one year and two years are chosen. Random walk Both historical mean and moving average methods assume that the volatility will be in stable or change slowing with a trend. But, if the volatility fluctuates unpredictably, the best forecast of the volatility of next period is the current real volatility. Exponential smoothing Under exponential smoothing method, the forecast of the volatility is a weighted average of the previous actual observation and the previous forecast. where is the smoothing factor, and must be between 0 and 1. If is equal to zero, the forecast exactly equals the prior actual observation and the exponential smoothing method becomes random walk. When approaches one, the preceding forecast is the majority. The value of smoothing factor is determined by minimizing the in-sample sum of squared errors. The estimated smoothing factors for daily data are between 0.64 and 0.95. For weekly data, the values lie in the range 0.88 to 0.92. Exponentially weighted moving average (EWMA) The exponential weighted moving average (EWMA) method is similar to the exponential smoothing method. The only difference is that the prior actual volatility is replaced by a moving average method. where is a smoothing factor lying between 0 and 1. Like the exponential smoothing method, the EWMA method becomes random walk if the smoothing factor is equal to zero. When the factor is getting closer and closer one, the moving average will be weighted heavier and heavier. For daily data, the estimated values of factors are in the range 0.001 to 0.53. The smoothing factors lie between 0.001 and 0.4 for weekly data. Generalized autoregressive conditional heteroscedasticity (GARCH) If the variance of the data is constant, the process is called homoscedastic. However, a lot of time series data in the real world have time-varying variance. In 1982, Engle proposed the autoregressive conditional heteroscedasiticity (ARCH) model to deal with time series data. Four years later, Bollerslev suggested the GARCH model. A GARCH (p , q) model is where , , and . There are joint estimations of both the conditional mean and the conditional variance process in the GARCH model. The error term, , follows a normal distribution with zero mean and the variance which varies with time. indicates the persistence of shocks to volatility. If the sum is equal to one, the GARCH model becomes the integrated-GARCH (IGARCH) model. Threshold-GARCH (TGARCH) In the GARCH model, it assumes that shocks with equal magnitude have the same impacts on the volatility no matter which sign shocks are, positive or negative. However, the different sign of the shock may have a different impact on the volatility. In order to parameterize this idea, the TGARCH model is one of a number of ways. The TGARCH model was proposed by Glosten, Jagannathan and Runkle in 1993. The model is express as where if , and if . Consequently, a positive shock has an impact of on the volatility, and a negative shock has an impact of on the volatility. If is greater than zero, the negative shock has an larger impact on the volatility and vice versa. quantifies the persistence of shocks. Asymmetric-GARCH (AGARCH) The AGARCH model is another way to parameterize the idea that different sign of shock with equal magnitude has a different impact on the volatility. The AGARCH model looks quite similar to the TGARCH model and is expressed as If is a positive number, the positive shock has a smaller impact on the volatility and vice versa. Exponential-GARCH (EGARCH) The EGARCH model (Nelson, 1991) does not have the non-negativity constraint on the parameter, and , in the above three GARCH models. And also, the EGARCH model is the third asymmetric kind of GARCH models in this paper. The model is expressed as where The positive value of indicates that the positive shock has an larger impact on the volatility and vice versa. 3.3 Forecast evaluation After the volatility has been forecasted, the forecasters need to be evaluated to see how small the forecast errors are. There are several loss functions for the forecast error. The choice of loss functions totally depends on investors preferences. Symmetric loss function The mean error (ME), mean absolute error (MAE) and root mean squared error (RMSE) are the easiest and commonest ways to measure the forecasting performance. The result of the ME can be an indicator showing the direction of overprediction or underprediction on average. As the errors by overprediction and underprediction offset each other, it is not surprising that the ME statistic usually is the lowest one among the others. Unlike the ME, the MAE does not have the problem of the offsetting effect. The RMSE provides a measurement if the investor prefers to impose a more heavily penalty upon the larger forecast errors. Asymmetric loss function As mentioned before, all investors have their individual preference for the loss functions. It is likely that investors have asymmetric loss functions rather than symmetric loss functions. Referring the past research (Pagan and Schwert, 1990; Brailsford and Faff, 1996), the mean mixed error is employed in this paper. Firstly, the mean mixed error with a more heavily penalty on the forecast errors by underpredicting is Secondly, the mean mixed error penalizing the overpredicted forecast errors move heavily is where O is the number of overpredictions and U is the number of underpredication in the out-of-sample forecasts.

Class Action Lab Report Essay examples - 1100 Words

Joseph Sulaiman Alya Abourezk 4/13/12-4/14/12 Class Action Lab Report Purpose: To determine, through observations, the identity of substances produced in a chemical reaction. Materials: Safety Goggles Stirring rod Magnesium ribbon Solid CuSO4†¢H2O Matches Test tubes Copper metal 3M HCl Red and blue litmus strips 0.1M AgNO3 Zinc metal 0.1M Pb(NO3)2 Test tube holder 0.1M KI Bunsen burner 0.1M Na2NO3 Crucible tongs 1.0M NaOH Water (H2O) 0.1M Ca(NO3)2 50mL beaker 1.0 CuSO4 Procedure: Using the crucible tongs, take a magnesium strip and hold it in hot spot (just above the inner cone of fire) on the bunsen burner. Use peripheral vision as not to damage your eyes and hold the tongs well so the†¦show more content†¦Dispose in the waste beaker. In a clean test tube place 1mL of Na2CO3. Add 1mL of Ca(NO3)2 to the sodium carbonate solution. In a clean test tube place 1mL of NaOH. add 1mL of CuSO4 to the sodium hydroxide solution. Observations: Chemical Equation Initial Observation Final Observation Type of Reaction 2Mg+O2 -- 2MgO shiny, metallic, grey strip white, powdery, chalky substance synthesis, combustion MgO+H2O -- Mg(OH)2 chalky Mg and clear, colorless water create milky white, but clear solution Red litmus: turned slightly blue Blue litmus: no obvious change synthesis CuSO4†¢H2O -- CuSO4+5H2O cobalt blue crystal blue substance turned white, rocky, opaque-yellowish deposit, water vapor decomposition CuSO4+5H2O -- CuSO4†¢H2O clear, colorless water, white, rocky copper substance crackling, white dissolved, created a blues clear substance decomposition, synthesis 2HCl+2Zn -- H2+2ZnCl Zinc is silver, lustrous; HCl clear and colorless Zn bubbled in the HCl solution single displacement, synthesis 2ZnCl+H2 -- 2HCl+2Zn Zinc was bubbling when exposed to fire, the H gas made a popping noise single displacement 2AgNO3+Cu -- Cu(NO3)2+Ag2 clear, colorless AgNO3; bronze lustrous copper balls Cu gave off bubbles and were coated in a black, near mold like, substance single displacement Pb(NO3)2+2KI -- PbI2+2KNO3 2 clear, colorless substances bright, sunshine yellow substance (residue, solid powder) double displacement Na2CO3+Ca(NO3)2 -- 2NaNO3+CaCO3Show MoreRelatedLaboratory Management- General Functions of a Laboratory Manager1249 Words   |  5 Pagesassignment the general functions of a laboratory manager is being discussed. 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Economics and Quantitative Analysis Economy

Question: (a) Provide a descriptive analysis of the two variables (e.g., mean, standard deviation, minimum and maximum). (b) Develop a scatter diagram with retention rate as the independent variable. What does the scatter diagram indicate about the relationship between the two variables? (c) Develop and estimate a regression equation that can be used to predict the graduation rate (%) given the retention rate (%). (d) State the estimated regression equation and interpret the meaning of the slope coefficient. (e) Is there a statistically significant association between graduation rate (%) and retention rate (%). What is your conclusion? (f) Did the regression equation provide a good fit? Explain. (g) Suppose you were the president of South University. After reviewing the results, would you have any concerns about the performance of your university compared to other online universities? (h) Suppose you were the president of the University of Phoenix. After reviewing the results, would you have any concerns about the performance of your university compared to other online universities? Answer: Introduction The two variables that are used within this report for the performance of several universities are named as the graduation rate and a retention rate. The graduation rate is dependent on the retention rate where the retention rate means the rate at which the students continue their education from the same university. Through it, the graduation rate will likely increase because the retention rate is higher. This would mean that the increase in the retention rate will have a positive increasing effect on the graduation rate which needs to be assessed through scatter plot and regression equation (Beldona, 2010). Other statistical tools will also be used like min and max method, mean and standard deviation. The min method provides us with the most minimum retention rate among the universities and the most minimum graduation rate among the universities. The max method will provide us with the most maximum retention and graduation rate. The mean will provide the analyst with the most common percentage among the universities signifying the retention rate and graduation rate. The standard deviation will provide us the variability from the mean. The scatter plot will facilitate in identifying the relationship between the two variables and the regression equation will help in illustrating the relationship in an equation. Purpose The 29 online universities are to be analyzed in accordance with their performance using statistical tools to statistically analyze the data for it. Those statistical measures would include the min-max method, scatter plot, mean, standard deviation and regression equation. All of the terms are already explained in the previous section. The purpose would notify as to how the two variables are interrelated with each other. Background The statisticians use these measures to understand the dataset provided within the study. The statistical tools will help us in understanding the statistical relationship between the two variables and hence, it would be quite effective to apply the statistical tools to determine the exact relationship between the two variables. (Armstrong, 2013) In accordance with the regression equation, this is the most significant statistical tool because the relationship between the two variables is described in to an equation where the relationship provides us with a good analysis of the independent and dependent variable. This is done through an equation below: Y = m X +c The retention rates and graduation rates have been a in significant relation between each other which has resulted the retention rate to officially think of it that all such retention rates were increasing and the graduation rates are decreased. Method Firstly, mean is determined which would let us know the most common rate among the 29 online universities. The mean would identify the most common rate in accordance with the retention rate and graduation rate. In the same way, then standard deviation method will let the statisticians know as to how much variability is there from the determination of mean. Some other methods like min and max method. The min means the least possible value for the retention rate or graduation rate. However, the scatter plot will also be used which represents the illustration of the graph through which the type of relationship will be evident. There are three types of relationship which can be illustrated through a scatter plot (Kahng, 20010). The first one is known as a positive relationship between the two variables. That means that when X increases, Y also increases. Then there exists a negative relationship. That means that when X increases, Y decreases or when X decreases, Y increases. Therefore, t he two variables are then negatively correlated. After that, the third type of relationship is the no relationship (Omran, 2010). This means that there is no resultant increase in Y with an increase in X. Both the variables remain unchanged. Then the regression method is also used to describe the relationship between the two variables in an equation form. Results The results for the given data are shown below: Astatisticaltechnique used to explain or predict the behaviour of adependent variable. Generally, aregressionequationtakestheformof Y= m X + c , where Y is the dependent variable that the equationtriesto predict, X is theindependent variablethat is being used to predict Y, a is the Y-intercept of the line, and c is avaluecalled the Y intercept (Kahng, 2013). It can be seen that the mean retention rate is 57.4% while the mean graduation rate is 42%. The standard deviation for the retention rate is 23% while the standard deviation for the graduation rate is 9.8%. The max retention rate is 100% while the max graduation rate is 61%. The minimum retention rate is 4% while the minimum graduation rate is 25%. The most common retention rate among the universities is 57.4% emulated by the graduation rate of 42%. Scatter Plot The scatter plot for this data set is shown as under: The m slope is calculated as the graduation rate = M x retention rate + 25.4%. Hence According to the author, the scatter diagram shows a positive relationship between the two variables. However, at certain instances, the retention rates are lower and the graduation rates are substantially higher (Murnance, 2013). This is a great concern for the statistical analyst from this point of view. However, to sum up as a whole, the retention rate increases due to which the graduation rate also increases. Regression equation The regression equation can be described as the relationship between the two variables being studied or researched. It also makes sense for the dependent of any influence on the subject through these two variables (Abernathy, 2011). The regression equation is as under: The above regression equation is Y = 0.284 X + 25.423. Y is the graduation rate, X is the retention and 25.423 is the Y intercept. Hence, the positive relationship is quite significant from the above universities. And, this can be proved in this manner: Y = 0.2845 x 35 + 25.423 = 35% Y = 0.2845 x 40 + 25.43 = 36% Therefore, the increase in any positive aspects will prove to be a great source of influence on the graduation rate. Discussion and Recommendations The University of South has a favorable graduation rate along with a retention rate. The graduation rate increases because the retention rate increases as it has been discussed above already. But the first and foremost concern is that some of the universities have lower retention rates but their graduation rates increase and that might be due to the fact that the retention rate is decreasing. Apart from this, the Universities of Phoenix has a lower retention rate and the most surprising fact is that the graduation rates also increase (Karafiath, 2014). The graduation rates are solely dependent on the retention rate. With such a lower retention rate, the graduation rates are increasing. This would mean that when the retention rate increases, the graduation would increase more than all this. This is due to the fact that with a lower retention rate, the graduation rate is still more favorable. Bibliography Abernathy, J.R., 2011. Smoking as an independent variable in a multiple regression analysis upon birth weight and gestation. BMJ Journal, 56(4), pp.626-33. Armstrong, J.S., 2013. Illusions in Regression Analysis. International Journal of Forecast, 3(2), pp.689-94. Beldona, S., 2010. Regression analysis for equipment auditing. Managerial Auditing Journal, 22(8), pp.809-22. Kahng, S., 20010. TEMPORAL DISTRIBUTIONS OF PROBLEM BEHAVIOR BASED ON SCATTER PLOT ANALYSIS. Journal of Applied Behavior Analysis, 31(4), pp.593-604. Kahng, S., 2013. TEMPORAL DISTRIBUTIONS OF PROBLEM BEHAVIOR BASED ON SCATTER PLOT ANALYSIS. Journal of Applied Behavior Analysis, 31(4), pp.593-604. Karafiath, I., 2014. Estimating cross-sectional regressions in event studies with conditional heteroskedasticity and regression designs that have leverage. International Journal of Managerial Finance, 10(4), pp.418-31. Murnance, J., 2013. U.S. High School Graduation Rates: Patterns and Explanations. Journal of Economic Literature, 51(2), pp.370-422. Omran, M., 2010. Linear Versus Nonà ¢Ã¢â€š ¬Ã‚ linear Relationships Between Financial Ratios and Stock Returns: Empirical Evidence from Egyptian Firms. Review of Accounting and Finance, 3(2), pp.84-102.

Oedipus the King Guilty or Innocent free essay sample

A Reaction Paper in English 106 (Greek Drama) Oedipus the King: Guilty or Innocent Submitted to Dr. Ulysses B. Aparece Submitted by Elmer J. Mangubat Guilty or Innocent Guilt presupposes the commission of sin; yet what comprises sin? From the moral standpoint, sin is the denial of what is good that is ought to be done or to happen; or sin is the omission of what is ought to be done. For sin to be categorized as such, there has to be a set of moral standards from which judgment on whether sin happens or not proceeds. Thus, to say Oedipus is guilty remains to be seen.Proponents have long debated over Oedipus’s guilt or innocence. I would like to react on some of P. H. Vellacot’s assertions on the guilt of Oedipus. Firstly, Vellacot says â€Å"the terrible destiny of Oedipus is shown as one put upon him by supernatural powers in general, by that comprehensive Fate which governs every man’s life. We will write a custom essay sample on Oedipus the King: Guilty or Innocent or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page † At the onset of his commentary, Vellacot seems to suggest that Oedipus is already latched into this tragic path of destiny—as ordained by Fate, with the concurrence, of course, of the gods.In the intricate lives of Greek heroes and heroines, the role of the gods and goddesses is a predominant theme. It is not surprising, therefore, that Oedipus is no exception. It’s as if his fate has long been sealed, and the oracles and prophesies are just a confirmation to this tragic playing of his role. As the term comprehensive suggests, Oedipus is bound to follow his fate as preordained by the powers that be. Secondly, Vellacot argues that if everything is because of fate then Oedipus is without sin; therefore, there can be no tragedy.Then he purports this question: â€Å"How can there be a true tragedy without sin? † Following this line of thinking, Vellacot asserts that Sophocles must provide the sound claim for Oedipus’s sin to justify the tragic character of the play—thus Oedipus’s false accusations on Tiresias and Creon. To Vellacot, however, this move is just Sophocles’ ploy of adding sin to justify Oedipus’s downfall. This assertion of Vellacot might be bordering on speculation, yet there could be a grain of truth in it.The assertion is seemingly a potent ploy of Vellacot himself to heighten the debate over Oedipus’s guilt, which is epitomized by the question: â€Å"How can there be a tragedy without sin? † The forego ing propositions of Vellacot on Oedipus’s innocence pave the way for Vellacot’s rebuttal—that although it was clear that the oracle had spoken, Oedipus had full awareness of the things that he should and could have avoided through the premonitions of the drunkard, and later of Tiresias.With the premonitions in place, the foremost thoughts of Oedipus should have been, as Vellacot purports, to avoid (1) killing an old man and (2) avoid marrying an elderly woman. The literary critic E. R. Dodds shares a similar view with Vellacot. The moralist, as he says, might ask, â€Å"Knowing that he was in danger of committing patricide and incest, would not a really prudent man have avoided quarreling, even in self-defense, with men older than himself, and also love-relations with women older than himself? † This is a very valid claim, indeed.Oedipus could have exercised self-control knowing that even the slightest of probabilities could trigger that rush of fate. Dodds reasons, however, that these considerations would have been in place had we been scrutinizing the character of a person. Instead, we should look at it in the light of the dramatist perspective, as Dodds puts it: â€Å"We are examining the intentions of a dramatist, and we are not entitled to ask questions that the dramatist did not intend to ask. † On a personal note, I would say to some degree that Oedipus has certain culpability toward his actuations.Although the Greeks perceive their gods as if they were one with them in all that they do, the fact remains that Oedipus is still a human being; and part of his humanity is that he has the intellect and the will. To some degree, he has the will and freedom to check his actuations in the different circumstances that he is in. This would have been the ideal way that Oedipus could have played his role. However, questions would hound us again: Who are we to question the dramatist’s intentions? What would become of the play—of the tragedy in particular—had things gone the other way?

How to Hire a Research Paper Writer

How to Hire a Research Paper Writer How to Hire a Research Paper Writer It may be something that you dread, but during the course of your education, you will be required to write research papers. This is a big part of much of the grade in certain majors, so if you want to get the best grades possible, you will need to turn in excellent research papers. However, this may be a challenge sometimes because of all the work you have to do, along with your busy life and schedule. There may be times when you are not able to get all of your work done by yourself. This is when you should hire a research paper writer to write your paper for you. However, you need to know exactly how to do this. Where to Find Research Paper Writers You may wonder how you can get help with your research paper, but all you need to do is look online. There are plenty of experienced, professional freelance research paper writers available on one of the many academic paper writing sites online. Just do a relevant search for keywords that pertain to what you want, such as ‘research paper writers’ or ‘online academic paper writers.’ Just be sure to ask questions before you use any service, so that you will have an idea of their process. Hiring a Research Paper Writer As stated above, the most important thing to remember when hiring a professional  research paper writer online is choosing a writing site that will give you the best paper for your money. Check out the site’s FAQ and Policies sections. There you should find all of the relevant information that you need. Do not use a writing company online that does not let you know all of the information you need to know up front. Also, it is best to ask for a sample of work from the company, so that you can see the quality and style of the work produced. It is also a good idea to make sure they have a free revision policy, as well as a money-back guarantee, just in case you are dissatisfied with the paper you receive. If your research paper is lengthy, it is a good idea to have the writers do it in segments. This way you can pay as you go, until the paper is completely finished. If, during this time, you are dissatisfied with a segment, you can have another company do the remainder of the paper. After you have gathered information from the company and are satisfied with the answers to your questions and the sample you received, make your choice. Then, when you decide on a company, submit your order, and wait for delivery. It’s that simple.

English Contractions for ESL

English Contractions for ESL English contractions are shortened forms of helping or auxiliary verbs in both positive and negative sentences. Contractions are generally used in spoken English, but not in formal written English. However, written English is becoming more informal (emails, notes to friends, etc.) and you will often see these forms in print. Heres an example from a business email: Ive been working on a new project. It hasnt been easy, but next week Ill finish. This example shows three contractions: Ive / hasnt / Ill. Learn the rules of contraction use in English below. Each of the following English contractions includes an explanation of the full form and example sentences to provide context for understanding. Positive Contractions Im : Im waiting for my friend.Ill : Ill see you tomorrow.Id : Id better leave now. OR Id already eaten by the time he arrived.Ive : Ive worked here for many years. Youre : Youre joking!Youll : Youll be sorry!Youd : Youd left before he arrived, hadnt you? OR Youd better hurry up.Youve : Youve been to London many times. Hes : Hes on the phone now. OR Hes been playing tennis since 10 this morning.Hell : Hell be here tomorrow.Hed : Hed prefer to meet you later in the week. OR Hed finished before the meeting began. Shes : Shes watching TV at the moment. OR Shes had a lot of trouble lately.Shell : Shell be at the meeting.Shed : Shed been working for two hours when he telephoned. OR Shed like to have a glass of wine. Its : Its been long time since we saw each other last. OR Its very difficult to concentrate.Itll : Itll be here soon.Itd : Itd be difficult to say no. OR Itd been a long time. Were : Were working hard on the Smith account this week.Well : Well begin when he arrives.Wed : Wed better hurry up if we want to catch the train. OR Wed finished the meeting before you arrived.Weve : Weve been waiting for you! Theyre : Theyre studying German this afternoon.Theyll : Theyll finish soon if they concentrate.Theyd : Theyd eaten their lunch when she stopped by to say hello. OR Theyd rather not come to the meeting.Theyve : Theyve just purchased a new home. Theres : Theres a hotel in the next town. OR Theres been too many telephone calls today!Therell : Therell be a price to pay!Thered : Thered better be a good explanation for this. OR Thered be some reason for that. Thats : Thats been on my mind lately. OR Thats why I cant come.Thatll : Thatll happen sooner than you think.Thatd : Thatd be the reason why. OR Thatd happened before my time. Negative Contractions arent : They arent coming next week.cant : I cant understand you.couldnt : He couldnt get his shoes on!didnt : We didnt visit Rome. We went straight to Florence.doesnt : He doesnt play golf.dont : They dont like cheese.hadnt : I hadnt thought of that!hasnt : She hasnt telephoned yet.isnt : She isnt listening to you.mustnt : Children mustnt play with fire.neednt : You neednt worry about that.shouldnt : You shouldnt smoke cigarettes.wasnt : I wasnt joking when I said that.werent : They werent invited to the party.wont : I wont be able to attend the conference.wouldnt : She wouldnt be surprised if he showed up at the party. Contractions in Speech English learners should become familiar with contractions in order to understand the grammar of what is said quickly. Native English speakers tend to speak quickly and glide over function words such as helping verbs. Most English contractions are contractions of helping verbs, so an understanding of the role these contracted helping verbs play in grammar can help you better understand spoken English. English learners should feel free to use contractions whenever they speak, but the use of contractions is not required. If you prefer to speak using full helping verb forms, continue to do so, but become familiar with contractions in order to help your understanding.

Human genome Term Paper Example | Topics and Well Written Essays - 500 words

Human genome - Term Paper Example One of the most contentious issues coming up over the next few years will surely be whether to allow human genomes to be patented. Human rights advocates are concerned that allowing patents will infringe on human dignity by giving permission to certain organizations to keep records of a person's genome records and is an invasion of privacy, sort of (Patrinos & Ansorge, 2005, p. 391). Human genome patents is shaping up as a huge social controversy because of its far-reaching implications on research such as those dealing with genetic defects that can cause inherited diseases. Patents are crucial to give encouragement to researchers so that their efforts will be amply rewarded, similar to the copyrights of authors and artists who want royalties for their creative talents. Patents in the context of medical research has effects on how well human beings can live their lives, whether disease-free or not, for example.

William Shakespeares Macbeth Essay Example | Topics and Well Written Essays - 1250 words

William Shakespeares Macbeth - Essay Example Thus, there are spectacular evidences all through the characterisation and the plot of the play which suggest the importance of the Elizabethan culture in the representation of 'gender' in Macbeth. Therefore, a paradox of sexual confusion and gender roles is evident at the heart of the play. "'Macbeth, a virile warrior-hero, is at the same time an 'unfinished man' who murders because he has been convinced by his wife that only through violence will he achieve a state of heroism. His manhood, displayed in the utterly 'masculine' form of bloodshed, is not self-determined or innate, but rather infused into him by Lady Macbeth." (Sch'rkhuber, 2007, p. 75). Therefore, this paper analyses Shakespeare's representation of 'gender' in Macbeth and compares it with the representation of 'gender' in the 21st Century referring to current literature, media, and poetry. One of the central concerns of the critics of the play Macbeth has been the author's representation of feminism in the play which is noted for the reversal of gender roles. Thus, one finds that the playwright has been interested in representing females as dominating their counterparts and the major characters and themes of the play depict the difference in the sexual representation of males and females. Whereas both Lady Macbeth and Macbeth are obsessed by the same passion of ambition, the playwright represents its effect differently in males and females. Lady Macbeth, the chief representative of females in the play, evidently violates the natural law concerning gender roles and the character of Macbeth enhances the reversal of gender roles in the play. "Both Lady Macbeth and Macbeth are fired by the same passion of ambition. However, while Macbeth is presented as violating moral law, Lady Macbeth seems to violate natural law: she is unfeminine. By eliminating in herself and her hus band tenderness, pity and vulnerability to feeling - human qualities her culture tends to associate with women - Lady Macbeth becomes half man herself. Through his efforts to be supreme among all men, Macbeth re-enacts the ambivalence of his sexual identity: the more he tries to prove his masculinity, the greater his fusion with Lady Macbeth." (Sch'rkhuber, 2007, p. 75). Therefore, it is palpable to a careful reader of the tragedy that Lady Macbeth makes an essential attempt to assume masculine characteristics which can make herself a stronger person. In addition, she also disparages her male counterpart, Macbeth, by attacking his own masculinity. "Macbeth shows a reversal in gender roles. The play questions what constitutes masculinity and femininity. It is important to Macbeth to be seen as a strong, powerful man. Lady Macbeth taunts him and mocks his sexuality to force him to get the courage to kill Duncan." (Thacker, 2008). In a careful analysis of the representation of feminism and masculinity in the play, one recognises that there is an evident reversal of gender roles by the playwright which can be comprehended as an attempt to identify with the contemporary Elizabethan culture.

Fiscal and Physical Planning of Vocational Essay Example for Free

Fiscal and Physical Planning of Vocational Essay Introduction Education generally is planned to develop the people in a society, In essence proper steps should be taken in the planning process. Nuhu (2007) sees vocational and technical education as that education, concerned with the acquisition of practical and applied skills, as well as basic scientific knowledge. It is only therefore a planned programme of theory and practical learning experiences that will guarantee acquisition of basic academic and life skills, achievement of high academic standards, leadership and preparation for industry-defined work. In any organization, planning competence is required in setting goals, developing strategies and outlining tax schedules to facilitate accomplishment of such goals. Planning is the process of organizing the activities required to achieve a desired goal. It is basically concerned with the organization of men, money and materials (3M), which are one of the major functions of the top management, for without effective planning, a waste of time and resources is possible. It is also necessary to note therefore, that information is the key to planning and the need for adequate and timely information cannot be over emphasized. One of the major philosophies of education in Nigeria is based on the integration of the individual into a sound and effective citizen, this and most of the national educational aims and objectives can only be achieved through a properly planned vocational and technical education. Planning of vocational and technical education is basically to enhance human dignity and enthrone work and labor by making individuals acquire and develop enough saleable and employable skills, competencies, attitudes as well as knowledge to enable them gain and maintain basic employment or self-reliance for a comfortable living. The Nigerian dream of building a truly egalitarian society can only be achieved through the effective use of vocational and technical education because it offers life-long education to all types of learners and enable them realize and develop their self-potentials maximally. In planning vocational and technical education, we decide in advance, what to be done, when, where, how and by whom it is to be done. It also entails working out before hand, how to achieve or accomplish the objectives of vocational and technical education, stated in the National policy on education (2004). Which includes:- 1. Providing trained manpower in applied sciences, technology and business. 2. Providing the technical knowledge and vocational skills necessary for agricultural, commercial and economic development. 3. Giving training and imparting necessary skills to individual who shall be self reliant economically. 4. Providing maximum options for learners to advance or branch out into gainful employment. 5. Making education concrete and understandable while general education should point out the vocational implication of all educational experiences. 6. Providing pre-vocational orientation to students into the world of work. 7. Developing attitudes, basic educative skills and habits appropriate for work. 8. Satisfying the demands of the society that is technology-oriented and the needs of man for liberalizing experience in his educational growth and similar undertakings. 9. Providing professionals who can apply scientific knowledge to the improvement and solution of environmental problems for the use and convenience of man. 10. To give an introduction to professional studies in other technological field. 11. Enabling our young men and women to have intelligent understanding of the increasing complexity of technology. And in pursuance of these set goals and objectives of vocational and technical education, the main features of the curricular shall be structured in both theory and practical learning experiences. The curriculum shall consist of five components, which are:- 1. General education 2. Theory and related courses 3. Workshop practice 4. Industrial training 5. Small business management For effective participation of students in practical work, the teacher-student ratio shall be kept at 1:20, and trainees completing vocational and technical education programmes shall have this three options and more:- a. To secure employment b. To set up their own business c. Pursue further education Without finance, the above objectives cannot be achieve, hence fiscal planning is the life wire of vocational and technical education Fiscal planning of vocational and technical education It refers to the most appropriate way to access finances (money) and determine the best course of action to take (budgeting) for future benefits. Fiscal planning of vocational and technical education means deciding in advance, how funds will be sourced and allocated to each of the areas in vocational and technical education. This is a major function of the government, budget committee on education and educational administrators. It goes further to answers such questions such as:- 1. What are the sources of funding VTE? 2. How much fund is available? 3. Which areas should fund be allocated? 4. Why will such funds be allocated? What are the sources of funding VTE? VTE just like general education have specific sources of funding which include:- 1. Government allocation 2. Internally generated revenue (IGR) 3. Education trust/tax fund. 4. International aid from world bank and developed countries 5. Non-governmental agencies (NGO) and more. How much fund is available? While the allocation to education tops those of other sectors in Nigeria’s 2013 budget proposal presented to the joint session of the National Assembly on the 10th of October 2012 by President Jonathan, the amount is still far below the standard set by the United Nations Educational, Scientific and Cultural Organization (UNESCO). The proposed allocation of N426 billion to the sector takes only 8. 7percent of the proposed total national budget of N4. 9 trillion, whereas the United Nations Educational, Scientific and Cultural Organization (UNESCO), actually recommended for allocation of 26percent to the sector which is very vital to national development (Education) and VTE being very capital intensive requires more funding. So the question of how much fund is available will depend on how rich is the country in focus, and how much is allocated to education sector in general. Which areas should fund be allocated? This may have to deal with a simple analysis of human and material resources that will be needed to run the various VTE programmes such as business education, technical education, agric and home economics education. Why will such funds be allocated? Funds should be made available to run VTE so as to achieve the aforementioned goals and in the long run achieve the national objectives of Nigeria and they include the building of:- 1. A free and democratic society. 2. A just and egalitarian society. 3. A united, strong and self reliant nation. 4. A great and dynamic economy. 5. A land of bright and full opportunities for all citizens. Physical planning of VTE Physical planning entails the organization of land and infrastructure use, while emphasizing the need for providing a balanced economic development and conserving resources. There is a relationship between the fiscal and physical planning of VTE, as there can be no human and material presence without a good financial budget. The physical planning of VTE relates to land and material aspects in the planning process, and organizing human and material resources for effective operations of vocation and technical education. This plan involves the following:- 1. A topographical survey on existing VTE schools. 2. Preparing architectural designs and drawings 3. Ensuring supervision of construction and rehabilitation work. 4. Provision of preventive maintenance facilities. 5. Designing laboratory for VTE workshop for practical learning. 6. Ensuring proper ventilation in classrooms and workshop. 7. Provision of appropriate office and class room furniture. 8. Ensuring availability of capable professionals in the various VTE programmes. Budgeting techniques in planning VTE Budgetary processes constitute the primary mechanism for planning and controlling educational activities. Budgets have been defined in various ways by managers and school administrators because organizations are always functioning by monitoring the flow of money in order to attain its set goals and objectives. Knezevich (1975) defined budgeting as a financial or quantitative statement that has been prepared and approved prior to a defined period of time. This statement includes policy to be pursued during the period for the attainment of objectives  However, it is pertinent to state that education budget is a financial blue print for the operation of the educational sector for the fiscal year. Types of budgeting 1. Line – Item Budgeting-: This is the traditional technique of budgeting which lists items on a purely object basis. It is also referred to as object of expenditure budget. This type of budgeting classifies expenditure on the basis of articles or items purchased. It refers to the grouping of expenditure into categories such as administrative staff salaries, academic staff salaries, supplies and materials, repairs and maintenance and so on. 2. Performance Budget-: It is an improvement on traditional budgeting because it emphasis the use of brief explanations to support each item of expenditure. In this type of budget, one does not budget for money but one budget for the objective to be achieved. Moreover, Calden and Wildaryshy (1974) remarked that performance budgeting allow transactions to be identified by general purpose in order to distinguish between expenditures which contribute tp development and those which do not. 3. Functional budgeting-: This technique of budgeting simply explains the budget according to the head which it is expected to meet. Ebhomien (1984) stated that the demerit of this type of budgeting includes the fact that objectives of such budgets are not always clearly stated because they are usually broadly defined. This form of budgeting does not give room for full accountability as it makes it difficult for someone to know how every little bit of the fund allocated is spent. Caffarella Model of Programmme Planning Cafferalla Program Planning Model Caffarella listed 12 steps to be considered in programme planning. The 12 steps are: †¢Discerning the context †¢Building a solid base of support †¢Identifying programme ideas. †¢Sorting and prioritizing programme ideas †¢Developing programme objectives †¢Designing instructional plans †¢Devising transfer-of-learning plans †¢Formulating evaluation plans †¢Making recommendations and communicating results †¢Selecting formats, schedules and staff needs †¢Preparing budgets and marketing plans †¢Coordinating facilities and on-site events Caffarella presents the model as a circle where all 12 steps point toward the center circle, called the Interactive Model of Programme Planning, indicating that the process is non-sequential. The program planner can begin the process at any one of the 12 steps, and does not need to work around the circle but rather each step is a reminder of important tasks to be completed during the process. How fiscal and physical planning has contributed to the growth of VTE 1. There is improved awareness and acceptance of vocational and technical education. 2. It has provided a basis for timely decision making. 3. There is more intervention in the area of infrastructure. For example, the new VTE workshop in our school. (UNIBEN) 4. It has promoted more effective and efficient utilization of available resources. 5. It has ensured continuity of vocational and technical education in our various institutions. Factors to consider before planning vocational and technical education Initial assessment of existing VTE system:- It will be necessary to first assess the existing VTE system capacity, including funding levels and budget utilization, strengths, weaknesses and deficiencies before embarking on a large-scale system reform or expansion strategy. There is therefore the need to conduct specific baseline studies that also explore the existing links with the other levels of education and national labor policies. Linkage with other sectors of the national economy:- There should be specification in clears terms between VTE and other sectors of the national economy in order to effectively link the VTE strategy to other national strategies and policies in the area of education and training, employment, and socio-economic development. Linkage with regional and international policies:- How does the national VTE strategy dovetail into existing regional and international education and training policy frameworks and protocols? National VTE strategies should take into account the education and training protocols of regional groupings like The Economic Community Of West African States (ECOWAS), Southern African Development Community (SADC), and The Common Market for Eastern and Southern Africa (COMESA) and also other acknowledged international agencies involved in education and skills training, such as the United Nations Educational, Scientific and Cultural Organization (UNESCO), American Dental Education Association (ADEA) and The International Labor Organization (ILO). Linkage with the world of work:- Since the ultimate objective of VTE is employability and employment promotion, it is necessary to link training to the needs of the labor market. VTE must be relevant and demand-driven, rather than supply-driven and a stand-alone activity. In order to do this, data is required on the actual employability of VTE graduates, available job opportunities, and the evolving skills demands on the labor front. Determining the demand for skills is best achieved through country specific Labor Market Information Systems (LMIS) and other survey instruments. Instructor training and professionalization of VTE staff:- The professional competence of vocational and technical education teachers is crucial to the successful implementation of any VTE strategy. Governments should therefore make conscious efforts, not only to train but also to retain teachers in the program. REFERENCES Adaralegbe, A. (2001). A Philosophy of Nigerian Education. Ibadan: Heinemann. Ahubaka, I. (1996). The Role of Science and Technology in National Development. Caffarella, R. S. (2001). Planning programs for adult learners: A practical guide for educators, trainers, and staff developers (2 ed. ). San Francisco: Jossey-Bass, Inc Ekpenyong, L. E. (1992). â€Å"Business Teacher Education in Nigeria Prospects and Challenges for the 21st Century. Ekpenyong, L. E. Nwabuisi, J. N. (2001). Curriculum and Human Resource Development issues in Business Education. Ekpenyong, L. E. (2005). Foundations of Technical and Vocational Education. Benin City: Supreme Ideal Publishers Int. Ltd. Evans, R. (1982). Why Vocational Education belong in the Comprehensive High Education. Journal of American Vocational Association. 57 (6). Federal Republic of Nigeria (2004). â€Å"National Policy on Education† (4th Ed) Yaba. NERDC press. Ile, C. M. , Asoegwu, M. N. N. Chukwugbo, G. C. (2005). â€Å"Essentials of Vocational Education and Technical Education for beginners†. Awka: Marpat Educational Research and Publishers. Miller J. V. and Vetter L. (1996). â€Å"Vocational Guidance for Equal Access and Opportunity for Girls and Women in Technical and Vocational Education†. Paris. UNESCO. Ogwo, B. A and Oranu, R. N. (2006). â€Å"Methodology in Formal and Non Formal Technical/Vocational Education†. Enugu: Ijejas Printers Publishers Company. Olairan, S. 0. (1990). Vocational and Technical Education: Issues and Analysis. Onitsha: Nobel Graphic Press. Osuala, E. C. (1995). Functions of Vocational Education. Nsukka: Falladu Publishing Company. www. africa-union. org/strategy-to-revitalize-technical-and-vocational-education-and-training-in-africa www. businessdayonline. com/NG/index. php/component/content/article/366-business-shool/46337-2013-budget-educations-allocation-still-far-below-unescos-stipulat.

Lord Capulet in William Shakespeares Romeo and Juliet :: Papers

Lord Capulet in William Shakespeare's Romeo and Juliet Lord Capulet is a character in the play "Romeo and Juliet" by William Shakespeare which we have been reading together in class. This piece is a study on this character. The story is of a young boy and girl who find love in each other but due to a sequence of events their lives are prematurely ended. Lord Capulet is the head of the Capulets and is well respected by the rest of his house. He is also Lady Capulets wife and Juliet's father. He is important in this story, as he is able to make decisions, which will affect the lives of many other people, not only in his own house but also in his bitter rivals house, The Montague's. Throughout the whole play there are scenes that revolve solely around him and Juliet, this makes him one of the most powerful people in the play and one of the main characters. The first time we see Capulet is in the brawl at the market, it is between the Capulets and Montagues. He immediately asks for his sword, "give me my long sword, ho!" as he sees Montague but his wife restrains him. You can tell by both his actions and his first words that he is not in a good mood and is spoiling for a fight also he acts like a middle aged man of around 40 years. We find out later in the play that he has a temper and his mood varies quickly from happy to anger or visa-versa. We next see Capulet in scene two where he is talking to Count Paris, an eligible young man who wishes to marry Juliet. He tells Paris that Juliet is too young, she's still only thirteen and he should wait until she is two years older, then he can marry her, "My child is yet a stranger in the world; she hath not seen the change of fourteen years". If not he should 'woo' Juliet and if she is happy, they shall talk again.

My daughter smokes Essay

We often think that refering people to supporting groups is enough to quit smoking, however how about if instead we educate them so that they won’t even start smoking as walker mention â€Å"peace on earth begins at home†, meaning that we need to educate our children and surrounding about smoking and its concecuenses. Smoking not only causes health problems, it can also cause economic problems, and can harm those around you. Smoking can have many negative impacts regarding your health it can cause bronchitis, pneumonia, and emphysema. According to the center for disease control and prevention â€Å"smoking causes 1 in 5 strokes in the United States†, Menaning that a person that smokes has a higher risk of having a painful and agonizing death compare to a non-smoker person. Smoking can harm not only you but also those arounfd you. People who smoke in public make choicea for others. for example, when you smoke around a 5 year old tou are basically making a choice for them making them a second hand smoker. Also, when you start suffering smoking consequences you dont do it alone because you family will suffer along with you. In addition, smoking can not only cause health problems but economically as well. A packet of cigarettes cost o8.75 an avarage smoker smokes about 2 packets a day, which will make an average of 3200 to 6400 per year.this money can be used for food and or clothing. Also, because of the health problems that smoking will cause, smokers smokers will have to spend a alot of money on health care. In conclusion, we need to educate our familiar, and friends regarding smoking. Smoking its a very additive habit that will make you nicoti e dependent. Therefore when you try to quit it comes with withdrawal symptoms, to avoid withdrawal symtomps from smoking the best choice is to never start. Smoking will not only damege your health it will also damage you economically, and also thos around you.

Education Field Observation Report Essay

I have learned a lot about the teaching profession this semester. My dream has always been to become an Elementary teacher. I had the opportunity to observe many classrooms, especially at the Elementary grade levels. Through field experience, I was able to imagine my own classroom and teaching methods. I observed both student-based classrooms and teacher-based classrooms. I even had the opportunity to learn about teaching special education classes, which I never considered teaching until now. This field experience has made me question the level that I want to teach, the methods of instruction I should choose, and the content area on which I should focus. Although my task was to observe for five hours in elementary, five hours in middle school, and five hours in high school, I observed more teachers and classrooms at the elementary level. Starting out, my goal was to teach only grades kindergarten through fifth, but I had the realization that I would not mind teaching at middle grade levels. In some of the student-centered classrooms, I noticed that group work made some of the quieter students feel comfortable speaking in class and engaging in activities. An example is the fourth grade class that worked in groups and rotated stations every few minutes. They enjoyed the subject content more since they had the opportunity to work together. This is something I want to bring to my classroom. I got to see teacher-based classrooms, too. However, I did not enjoy observing these classes as much. I felt like the students were not as engaged, and they just did not want to be there. All of the teachers that I observed this semester welcomed me to their classrooms. They even invited me to visit again. In most of the classes, I noticed that the students felt comfortable around the teacher. One teacher engaged in conversation with her students about their spring break. She was inspiring to watch. She was teaching math while I was there, and every student was engaged. She made the children comfortable yet she had their full attention during the math activity. I am glad I had the opportunity to observe the interactions between the students and teachers, because I was able to realize the importance of the students comfort in class. This was especially true in the co-taught special education class that I observed. For example, the students were allowed to sit on the floor and take their tests to reduce test-anxiety. I was given the chance to really think about how student behavior is influenced by the teacher’s behavior. Before obtaining field experience, I believed that middle school students would be unruly and frustrating to teach. I feel differently now that I have seen the middle grade teachers in action. All of the teachers were helpful and explained their philosophies to make me understand how they have well-disciplined students. Behaviorism was a topic discussed in our textbook, and I was able to see different theories first hand. For example, most of the elementary teachers have reward systems set up to endorse good behavior. Others, start the school year out being very strict and then loosen up as the year unwinds. I want to have a good behavior model for my classroom, so I was glad to observe various techniques. Some of the teachers gave me copies of the lessons the students were doing at the time of my observation. I found these activities useful as they made me think about the curriculum that is used. This was important to me since we learned about curriculum and how it is determined, as well as by whom it is determined. Most of the classes that I observed were my favorite subjects, English, Language Arts, and Math. However, I now feel more comfortable at the thought of teaching other content areas, grade levels, and even special education. I was given the chance to observe an English as a Second Language class at the tenth grade level. When first learning about ESL classes this semester I thought I would never want to teach this type of class. This is one of the classes that I am most interested in now. I enjoyed watching the teachers and students interactions, but I did not care for the method of instruction. Although, the teacher used student-centered instruction, it seemed as though he was unable to relate the vocabulary of the activity to some of the students because of the language barrier. I imagined various technology and resources that the instructor could have used. This is an area that I hope to observe more in the future. I thoroughly enjoyed every minute of observation time in the field this semester. I have realized that I am on the right track to a rewarding career. I am still inspired and more determined to become an educator. I am thankful that I had the opportunity to learn from other teachers. Mostly, I was inspired by their patience, innovation, determination, and their compassion for each individual student.

How I felt on September 11, 2001

How I felt on September 11, 2001 On the morning of September 11, 2001 I awoke thinking that this would yet be another typical Tuesday; little did I know that this day would change my life forever. Seeing two of our countries largest towers collapse was the scariest thing I have ever faced. After witnessing the pain and sorrow of that horrible day I realized now the same nightmares we see on television across the globe are actually happening in our own backyard.Over the course of the week following the attack, coverage of the search for victims and perpetrators was everywhere. Like most Americans I am sure, I was not able to tear myself away from the television until the real damage became apparent. Despite the media?s pleas for blood donations, they weren?t needed. There were barely any intact bodies found- let alone survivors.There are two images I still to this day cannot seem to get out of my mind.The Statue of Liberty front shot, on Liberty Islan...One is of a man in a suit jumping out of a top floor and falling to his death. He reminded me of a father who had put on his tie that morning in attempt to go to work in attempt to achieve the American Dream, only to be forced between burning alive or being killed upon the impact of his body with the momentum hitting the concrete sidewalk.The other image is of a girl my age with her mother and younger brother holding up a picture of her father, describing him while sobbing and begging for people to look for him in the surrounding hospitals. She looked so horrified and heart broken. I wanted so badly for her father to come home and say, ?Everything is okay.? More than anything, the attack has made me sad. I am sad for the victims?...

All About the Chapultepec Castle in Mexico City

All About the Chapultepec Castle in Mexico City Located in the heart of Mexico City, Chapultepec Castle is a historic site and local landmark. Inhabited since the days of the Aztec Empire, Chapultepec Hill offers a commanding view of the sprawling city. The fortress was the home of legendary Mexican leaders including Emperor Maximilian and Porfirio Diaz and played an important role in the Mexican-American War. Today, the castle is home to the first-rate National Museum of History. Chapultepec Hill Chapultepec means â€Å"Hill of the Grasshoppers† in Nahuatl, the language of the Aztecs. The site of the castle was an important landmark to the Aztecs who inhabited Tenochtitlan, the ancient city which would later become  known as Mexico City. The hill was located on an island in Lake Texcoco where the Mexica people made their home. According to legend, the other people of the region did not care for the Mexica and sent them to the island, then known for dangerous insects and animals, but the Mexica ate these pests and made the island their own. After the Spanish conquest of the Aztec Empire, the Spanish drained Lake Texcoco to control flooding issues. On the grounds near the castle, at the base of the hill in the park near the  Nià ±os Heroes  monument, there are ancient glyphs carved into the stone during the reign of the Aztecs. One of the rulers mentioned is Montezuma II.   The Castle After the fall of the Aztecs in 1521, the hill was largely left alone. A Spanish viceroy, Bernardo de Glvez, ordered a home built there in 1785, but he left and the place was eventually auctioned off. The hill and assorted structures upon it eventually became the property of the municipality of Mexico City. In 1833, the new nation of Mexico decided to create a military academy there. Many of the older structures of the castle date from this time. Mexican-American War and the Hero Children In 1846, the Mexican-American War began. In 1847, the Americans approached Mexico City from the east. Chapultepec was fortified and placed under the command of General Nicolas Bravo, a former president of the Mexican republic. On September 13, 1847, the Americans needed to take the castle to proceed, they did, then secured the fortress. According to legend, six young cadets remained at their posts to fight off the invaders. One of them, Juan Escutia, wrapped himself in the Mexican flag and leaped to his death from the castle walls, denying the invaders the honor of removing the flag from the castle. These six young men are immortalized as the Nià ±os Heroes or â€Å"Hero Children† of the war. According to modern historians, the story is likely embellished, but the fact remains that Mexican cadets did defend the castle bravely during the Siege of Chapultepec. The Age of Maximilian In 1864, Maximilian of Austria, a young European Prince of the Habsburg line, became emperor of Mexico. Although he spoke no Spanish, he was approached by Mexican and French agents who believed that a stable monarchy would be the best thing for Mexico. Maximilian resided at Chapultepec Castle, which he had modernized and rebuilt according to the European standards of luxury at the time with marble floors and fine furniture. Maximilian also ordered the construction of Paseo de la Reforma, which connects Chapultepec Castle to the National Palace in the center of town. Maximilian’s rule lasted three years until he was captured and executed by forces loyal to  Benito Juarez, the president of Mexico, who maintained he was the legitimate head of Mexico during Maximilians reign. Residence for Presidents In 1876, Porfirio Diaz came to power in Mexico. He took Chapultepec Castle as his official residence. Like Maximilian, Diaz ordered changes and additions to the castle. Many items from his time are still in the castle, including his bed and the desk from which he signed his resignation as president in 1911. During the Mexican Revolution, various presidents used the castle as an official residence, including Francisco I. Madero, Venustiano Carranza, and Alvaro Obregà ³n. Following the war, Presidents Plutarco Elias Calles and Abelardo Rodriguez resided there. The Castle Today In 1939, President Lazaro Cardenas del Rio declared that Chapultepec Castle would become the home of Mexicos National History Museum. The museum and castle are a popular tourist destination. Many of the upper floors and gardens have been restored to look as they did during the age of Emperor Maximilian or President Porfirio Diaz, including original beds, furniture, paintings, and Maximilians fancy coach. Also, the exterior is renovated and includes the busts of Charlemagne and Napoleon that had been commissioned by Maximilian. Near the entrance to the castle is a massive monument to the fallen during the 1846 Mexican-American War, a monument to the 201st Air Squadron, a Mexican air unit which fought on the side of the Allies during World War II  and old water cisterns, a nod to Lake Texcocos former glory. Museum Features The National Museum of History includes pre-Colombian artifacts and displays about ancient cultures of Mexico. Other sections detail important parts of Mexican history, such as the war for independence and the Mexican Revolution. Oddly, there is little information about the 1847 Siege of Chapultepec. There are numerous paintings in the museum, including famous portraits of historical figures such as Miguel Hidalgo and Josà © Marà ­a Morelos. The best paintings are the masterpiece murals by legendary artists Juan O’Gorman, Jorge Gonzlez Camarena, Jose Clemente Orozco, and David Siqueiros.

Marketing and product life cycle Assignment Example | Topics and Well Written Essays - 500 words

Marketing and product life cycle - Assignment Example Product Life Cycle (PLC) is a continuous process. It does not end like the human lifecycles. Brands and products do not die. They can be kept in the market for eternity if proper marketing techniques are used. There is a new field innovative marketing that is being used to revive the declining products and brands. These techniques improve the product’s position in the market and help the decline stage of a flagging brand. The paper did not discuss the extension stage and these strategies which are often used by marketing managers to cure the negative demand of the product. The paper also fails to identify the various marketing strategies that can be used in each stage of the product life cycle. The paper also talks about the advertising in the introduction phase to generate the trial purchases. However, advertising and promotion are integral parts of any product’s success and they are needed in every stage of the product lifecycle. However, the nature and kind of advertising and promotions change in each stage of the product life cycle. For example, in the introduction stage, informative advertising is done. In the growth stage, persuasive advertising is done. In maturity when there is a lot of competition in the product market, competitive advertising is done to hedge and leverage the position of the product against the competing products. Similarly, there are different kinds of promotional techniques that are used in the different stages of product life cycle. In introduction stage, there is product testing and free samples are given. In grow th stage, brand endorsements are used. In maturity stage, usually special discounts and other offers such as â€Å"buy 2 get 1 free† are used. A company that does not use different advertising and promotion campaigns in different lifecycle stages usually suffers and loses business. Good marketers develop correct strategies in each stage of product life cycle. However, the paper failed to realize

Free and Fair Elections - Canadian Politics Essay

Free and Fair Elections - Canadian Politics - Essay Example Though the Canadian electoral system to a large extent affiliates to many democratic imperatives like being a representative democracy where the legislative office is decided through popular competitive elections, a political system that affiliates to a multiparty system of democracy, accrual of a range of political choices to the voters, and a reasonably fair and transparent system of governance, still, it will be unfair to conclude that all is well with the Canadian electoral system. ... First past the post system first and foremost is quiet simple and straightforward. Thereby such an electoral system is easy and economical to execute and in no way bothers the people who cannot understand the more complex electoral systems.5 First past the post system is also economical in terms of time in the sense that it takes only a few hours to count the total number of votes and the results could be declared at the earliest.6 This system of electioneering tends to get a sense of the voters’ views as to which party ought to from the government in the simplest possible way and thereby presents a simple and straightforward view pertaining to the peoples’ will.7 However, it goes without saying that irrespective of being an utterly simplistic way of conducting elections, first past the post electoral system in a way suppresses the will and the views of a large number of voters and is certainly not good for democracy.8 Canada has been a thriving democracy since long and now is the high time that the Canadian electoral system must graduate to more inclusive and complex electoral systems. The biggest flaw with the first past the post system is that it readily facilitates a two party system and tends to favor single party governments who are not required to rely on the support of other parties to pass legislations.9 The first past the post system certainly tends to bypass the opinion and aspirations of a large chunk of voters, as the candidates even securing a marginal excess of votes could actually win.10 It does not matter how much votes the losing candidate accrues as the winning candidate is required to get more votes than the losing candidates. Besides, first past the

Module 4 Written Essay Example | Topics and Well Written Essays - 750 words

Module 4 Written - Essay Example Latin American countries characteristically have high inflation rate, with some countries having as much as three digit percentage. In fact in a 70 year history of Argentina, the country averaged in excess of 200 percent inflation rate, Brazil on the other hand averaged 390 percent from 1980, and attaining a high of 6821 in the first quarter of this year. Venezuela rates are very high, a rate of 63.4 percent. The concept of Purchasing power parity (PPP) would imply that the currencies of these countries shall depreciate compared to the United States dollar so as to consolidate the purchasing power across the countries. According to Keown, Martin & Petty (2008), PPP reflects the relative value of purchasing a product in one county versus another. A high inflation rate has the effect of making their exports cheap while making imports expensive, thereby discouraging demand for Latin American imports and forces a downward pressure in their Latin American currencies. Depreciation of the c urrencies compensates the rising prices on Latin American exports when viewed by imports from the US and other countries. Interest rate parity exacts pressure on the forward rates to contain a large discount as a result of the high interest rate prevailing in Latin America, which shows a snag of hedging Latin American currencies. Hence, the option to hedge bears more sensibility if the expected rate of depreciation exceeds more than the forward rate. It is also important to factor in that certain remittance cannot be hedged anyway as a result the value of uncertainty in future remittances The forward rate of a Latin American currency would have a big discount; as a result the Latin American interest rate would be higher than that of the US. The discount operates as the prediction of the rate of change in the value of the Latin American currency given a lengthy period of time, which I represented by the forward

Impacts Of Food Miles On Climate Change

Impacts Of Food Miles On Climate Change Todays food is well travelled. A pack of green beans in an European supermarket may have journeyed 6000 miles, or 60. While food miles loom large in our carbon-aware times, transporting it counts for less than you might think. This paper investigates the effectiveness of initiatives to reduce the number of food miles by their impact on climate change. The paper comes to the conclusion that food miles, the distance that food has travelled from farm to fork, indeed reduces the amount of greenhouse gas released. However, this does not imply that less food miles are a more sustainable way of producing. Moreover, the concept might be a justification for protectionist purposes and has significant negative side effects. Introduction Climate change is one of the greatest environmental threats of our time. The cause of climate change is mainly the emission of greenhouse gas as a result of human activity, according to the Intergovernmental Panel on Climate Change. A significant reduction of greenhouse gas emission is needed in order to the mitigate the effects on the climate. To accomplish this, two international treaties have been adopted: the United Nations Framework Convention on Climate Change in 1992 and the Kyoto Protocol in 1997. The countries that ratified the Kyoto protocol committed to reduce their emissions of greenhouse gas by a given percent compared to their emission level in 1990 (Pinkse and Kolk, 2009). To achieve this, the EU has set the following targets: reduce greenhouse gas emissions by 20%, improve energy efficiency by 20%, raise the share of renewable energies to 20% and raise the share of bio-fuels in road transport to 10%. These targets should all be achieved by the year 2020 (Confederation of Food and Drink Industries, 2008). Many industries have taken activities to cut energy use and emissions, in particular carbon dioxide (CO2), due to stricter legislative requirements and rising energy prices. Also the food industry is actively taking part in reducing energy and emissions, especially carbon dioxide. Example of such activities are the investment in energy efficient technologies, by voluntarily cutting energy use and even by participating in national energy efficiency schemes (Confederation of Food and Drink Industries, 2008). In household consumption, food has one of the highest impact on the environment. According to a study on the environmental impact of products, food and drinks cause 20 to 30% of the environmental impacts of private consumption (Tukker et al., 2006). In this study the food production and distribution chain has been fully analyzed and identifies products that are most greenhouse gas intensive. According to this study, meat, dairy, fats and oils are the most greenhouse gas intensive products. The estimated meats global warming potential ranges from about 4 to 12% of all products studied across the EU. Milk and dairy products are responsible for 2 to 4%, f ruits and vegetables for approximately 2%. The food chain consists of many different stages with many different players, like farmers, suppliers, transport companies, producers, retailers, consumers and waste management companies. At all stages of foods product life cycle there are activities that may have an impact on climate change. These include farming, manufacturing, processing, packaging, storage, transportation, consumption and disposal (Carlsson-Kanyama et al., 1997). It is estimated that the food industry accounts for about 1.5% of total greenhouse gas emissions in the EU. Within the whole food chain, agriculture accounts for 49% of greenhouse gas emissions, followed by the consumption (18%) and manufacturing (11%) (Confederation of Food and Drink Industry, 2008). Transportation is also an important contributor to greenhouse gas emission, because of the consumption of fuel and energy. Transport is estimated to account for 21 % of the greenhouse gas emissions in the EU, but it is unclear how much of these emissions sh ould be allocated specifically to food transportation (Confederation of Food and Drink Industry, 2008). Other impact on climate change in food production also depends on other factors, like the agricultural soil, the countrys climate, the intensity of use of fertilizers and chemicals, and the amount of energy and fuels used at different stages of the distribution chain. It is essential to take all these factors into account when estimating the impact of food products on climate change. However, this is not always possible or feasible, because of the complexity of the supply chain and the lack of available data. Food Miles Food miles, which accounts for the distance products have been travelling to reach the end consumer, has increased awareness recently. Nowadays many food products travel long distances before their final consumption. In the USA, for example, the food for one typical meal has travelled more than 2000 kilometers. And, if that meal contains any off-season fruit or vegetable the total distance is much more (Oxfam, 2009). It is commonly for food to be transported great distances to be packaged and processed, and then sent back in order to be sold near the place where it was produced. An example of this kind of practice is the shrimp industry in the Netherlands. There are several factors that have led to the increase in the distances food travels. These include: trade liberalization, sourcing from around the world, geographical centralization to achieve economies of scale, increased market share of retailers located out of the town of consumers, and finally, lower transportation costs of air freight, which relatively cheap compared to some other supply chain costs (Smith et al, 2005). As a result of the miles that food makes, emissions like CO2 are increasingly released, which contribute to climate change. The term food miles was introduced by the British non-governmental organization Sustainable Agriculture, Food and the Environment (SAFE) in 1994. They were the first to address the danger of long distances in food transportation. The concept implies that the lower the food miles, the less impact a product has on climate change. Therefore, consumers should be encouraged to buy locally produced food. Some retailers in Europe and North Americ a started promoting food miles initiative in order to address the problem of the long distances that food travels. These initiatives are often focused on promoting localism or regionalism in food sourcing. A few examples of these kind of initiatives will be discussed later. Food Miles Calculation Complexity In order to calculate the distance that food has travelled, the commonly used formula is the Weighted Average Source Distance. This formula combines information of the distances from production to point of sale (kilometers) and the amount of food product transported (Carlsson-Kanyama, 1997). The formula for the Weighted Average Source Distance is: ÃŽÂ £ (m(k) x d(k)) / ÃŽÂ £ m(k). Where k stand for the different location points of the production, m stand for the weight from each point of production, and d stand for distance from each point of production or sale. Although this formula looks quite simple, the application is rather difficult, because many food consist of multiple ingredients. Due to a lack of precise data about the exact distance of all ingredients, the calculation is often based on approximations. The formula does also not take into account how the food is transported (by marine, road, rail or air). This transport mode is important, because different transport mo des have different emissions per product unit. Drivers for Food Miles Initiatives There are five main drivers for initiatives to reduce food miles: NGO pressure, government support, consumer demand, food miles as a marketing concept and the potential reduction of costs. In the early 1990s British NGOs addressed the social and the environmental impacts caused by food miles. The main argument to support the food miles concept was the concern for climate change. It was implied that the longer the distance food travels, the more energy is consumed, the more fossil fuels are burned, and consequently the more greenhouse gases are released. Therefore the solution proposed was to source food from as close as possible to where it will be finally consumed (Saunders et al., 2006). Other arguments used included the concern that food that could be produced in the home country was imported instead, which causes a loss of income to local production, and also the concern that workers overseas might not be treated fairly (Oxfam, 2009). Some NGOs were specifically against air freig hting of food because this kind of transport is very energy intensive and causes the most negative externalities to the environment. They also addressed multilateral international trade, this is when a product was imported in the UK while the national production of that same product was exported from the country. As the solution to these problems, the British NGOs promoted to consume food that was locally produced (Saunders et al, 2006). Many EU countries support the concept of local food production and local food consumption. For example, the Italian government forces local authorities to include organic and local food in the school catering. The EU itself, although not directly supporting the concept of food miles, provides funding to support local food initiatives to develop farmers markets and local food brands (Euractiv, 2011). Food miles is seen as a possibility to improve environmental sustainability, because the distance and transport mode are important elements within the food chain as well as being associated with pollution from vehicle emissions (Saunders et al, 2006). Also the consumer awareness has raised the concern about the impact that food transportation has both environmentally and socially. This awareness has increased due to a few major food issues of the last decade (e.g. mad cow disease, foot and mouth disease, Q-fever, swine flu and the discussion about producing genetically modified food). These events have raised consumer interest about the origin and traceability of their food. Nowadays, many consumers and restaurant owners have a strong preference for local food product. An important reason why they choose local foods is because consumers have more trust in locally produced food since they know where it comes from. The concept of food miles has become familiar topic to the public, which lead to the consumers believe that food travelling a shorter distance is better for the environment. Consumers also argue that local food is more fresh and even tastes better than when it travelled long distances (Pirog and Benjamin, 2003). As already mentioned, consumers are interested in having the opportunity to purchase products that was produced and processed within their own region. These customers might be specifically interested in buying low food miles products due to their perceived freshness and quality (Pirog and Benjamin, 2003). Food retailers and food producers anticipate on this demand and use the food miles concept as a marketing tool. These marketing messages support the consumers perception that locally produced food is better. Therefore the food miles concept helps to differentiate products from the competition. Because climate change aspects are increasingly being included in business strategies, the concept of food miles is sometimes used by producers in marketing strategies to differentiate products from the international competition. An example of this is Friesland Campina, who only source from Dutch dairy farmers, and this actively promotes in advertisement. Campina customers also have the opport unity to trace their milk via an unique code on the milk cartons. The last driver is the potential cost reduction of transportation. The costs for food transportation is relatively cheap compared to other supply chain costs. The cost of shipping containers around the world is relatively low and fuel for aviation is not taxed. Also, for a long time air freight and shipment were included in the EU Emissions Trading Scheme, but this has been included in the ETS from 2011 onwards (Euractiv, 2007). Airlines will therefore have to reduce their greenhouse gas emissions or buy some sort of pollution credits on the carbon market. However, the EU recently initiated the first key measure to reduce the impact of air travel on global warming. The European Commission set an emissions cap for the aviation sector. Emissions trading for the aviation sector will start in January 2012 with a yearly allowance of 213 million tons of CO2 (Euractiv, 2011). This will increase the costs of transportation, including of food products. Therefore, it is interesting to integrat e the food miles concept in the procurement policy of a policy, because it might bring potential cost savings on airline freighting. Examples of Food Miles Initiatives As it was mentioned earlier, food quality, support of local community, food freshness and concern about the impact of transport on climate change have increased consumers interest in the origin and traceability of food, including a strong preference for locally produced food. Therefore, driven by consumer demand and with the objective to reduce food mileages of the products they distribute, big retailers made local sourcing initiatives a core aspect of their sustainable policies. The food miles concept can be used in two ways to reduce the environmental impact of food transport, the so called fewer miles and friendlier miles notions. Fewer miles means that companies and retailers are trying to reduce the overall distance that food travels. Such initiatives include local sourcing and greater capacity vehicles that carry more products in one trip. Friendlier miles are achieved when the environmental impact of the distance travelled is reduced by using less damaging forms of transport (such as rail or water compared to road or air) or by technological improvements in vehicle and fuel technologies to reduce the impact of any given mile (DEFRA Annual Report, 2007). The air-freighted labels, for consumers to identify products having been transported by plane, can be an example of friendlier miles initiatives as its final goal is to promote more sustainable transport modes. Ahold Ahold takes initiatives for fewer food miles. The supermarkets in the Ahold group are encouraged to source in a sustainable way and reduce their environmental footprint by buying local. In the United States, a product is considered local if it is sourced from the state or municipality in which the supermarkets operates. Many of the US stores operate in rich agricultural areas, so they are able to source many products locally. However, there are government regulations that restrict the use of the term local (especially when applied to dairy products), and this varies by state, region or municipality. In the United States, a local product program is executed during the local growing seasons. During 2010, Giant Food Stores and Martins Food Markets encouraged customers to follow the so called Local Route in stores that pointed the way to fresh products grown locally by farmers within their own communities. A second initiative is at Rimi Supermarket in Estonia. This initiative raises cons umer awareness about Estonian products by adding an Estonian flag label to products of Estonian origin. At some stores in Lithuania, local farm shops known as vikis have opened within the stores. Local farm produce in Rimi hypermarkets, where customers can buy high-quality products grown or produced by small- and medium-scale Lithuanian farmers. The shop-within-a-shop concept supports the idea of local sourcing and production, meeting the demands of customers and suppliers (Ahold, Corporate Responsibility Report 2010). Hellmanns Hellmanns has been taking another initiative to support fewer food miles. In 2009, the Unilever mayonnaise brand Hellmanns, campaigned for the consumption of local food in Canada. As part of its Eat real. Eat local campaign it was running a commercials that makes the Canadians wonder how far their food travels to get to their dinner tables. The campaign highlights the increasing tendency of food importation, and how this phenomenon influences the Canadian economy, the environment and communities. Food like cucumbers, tomatoes and peppers, which Canadians can grow in their own backyards, actually travel many miles and are hardly fresh by the time they are eaten. The message is mainly meant for Canadians, but could certainly be applied elsewhere. Although the climate change is mentioned the commercial, the main emphasis is on the threats to the domestic economy and not so much on the environmental consequences of food miles (Unilevers Sustainable Development Overview 2009). Heineken Heineken Netherlands recently took an initiative for friendlier miles. The beer and soda manufacturer, bottles more than 70% of its export beer in the brewery of Zoeterwoude. This means that large volumes of beer have to be transported via the highly populated roads of South Holland. In order to relieve the traffic around the brewery and to reduce the companys carbon footprint, it decided to build the a large container terminal along the channel. Since October 2010, Heineken transports all its export products by boat to the ports of Rotterdam and Antwerp. By this initiative, Heineken transports three-quarters of its the total transport over water instead, which is taken off the road. The initiative is expected to reduce the number of trucks on the road with 100.000 per years, who account for 6 million kilometers. Heineken reduces its emission of carbon dioxide with 35% (Heineken Sustainability Report, 2010). Marks and Spencer To address the problem of climate change caused by air traffic and to meet the customers interest in knowing how food is transported, the UK retailer Marks Spencer, started an initiative under the concept of friendlier food miles. Since 2007, they label the food that has been imported by air. Marks Spencer prints a small airplane symbol and the words air freighted (see Figure 1) on over 150 different food products, including beans and strawberries. Marks and Spencer has created this label for all of their air-freighted food to enable customers to identify products which have been transported by air and to help the company to ensure that this form of transport is used only where local alternatives are not available (Marks and Spencer, How We Do Business Report, 2010). Figure 1. Air freighted label. Strengths and limitations In this section, the main strengths and limitations of the food miles initiatives will be presented. It can be said that one of the main advantages of initiatives promoting local food, is that they can lead to a reduction of the amount of greenhouse gas emissions because food does not travel as far as if imported from other countries. Buying local food also has the advantage of promoting local farming, which, in turn, supports the local economy and the creation of new employment opportunities. It is also believed that local food is fresher and tastes better than food shipped long distances. However, it is questionable to what extent food miles really guarantees that a product sourced locally generates lower greenhouse gas emissions, and therefore whether implementing the food miles concept actually results in a lower climate change impact. An important limitation for the food miles concept is that it might is used as a justification for protectionism of the local economy. Therefore, the food miles concept has been criticized (Wilson, 2007). Since the main principle of food miles is to promote fewer miles and the consumption of local products, this might create unofficial import barriers for some countries to export their products because they travel long distances. Another limitation that can be used against the food miles concept is the fact that a single indicator based on the total distance food is transported, cannot be an adequate indicator of sustainability (Smith et al, 2005). A study carried out Smith et al for DEFRA came to the conclusion that a range of factors have an effect on the overall impacts of food transport, not only the miles travelled. The concept of food miles is therefore inadequate, since it excludes the climate impact of other aspects than transportation (DEFRA, 2005). Food transportation represents just one of many components of the total environmental impact of food production and consumption. When assessing the environmental impact of food, it is essential to take into account all those different factors, including how food was produced, packed, stored, as well, how and how far it was transported. As an example, Smith et al. found out that importing tomatoes from Spain during the winter generates less CO2 emissions than growing tomatoes in greenhouses in the UK (Figure 2). Local produced tomatoes in the UK (high emissions, low miles): Imported tomatoes from Spain (lower emissions, more miles): Figure 2. Represenation of CO2 emission, UK vs. Spain (Smith et al, 2005). Another example is from the horticulture industry, which coulis similar to many food products. Williams (2007) carried out a comparative study of the carbon impact of growing 12,000 quality cut stem roses in Kenya and air-freighting them, with growing them in the Netherlands and driving them to the UK. The results of the study are presented in the table below. It shows that the production and following export and delivery of Kenyan roses generates less greenhouse gas than the production and delivery of Dutch roses. This is mainly due to the fact that Kenyan production uses substantially less primary and fossil energy than the Dutch production (Williams, 2007). The results are presented in table 1 below. Kenyan Dutch Climate impact 2400 kgCO2e (without altitude impact) and 6200 kgCO2e (with altitude impact). 37 000 kgCO2e. Most carbon intensive stages Air freight (73-89% of climate impact). Heating and lighting of greenhouses (99% of climate impact). Other key differences Geothermal source for energy use and almost double the yield per unit area. Fossil intensive heating and lighting, and just over half the Kenyan yield rate. Table 1: Comparison of impacts for the production of 12,000 roses from Kenyan and The Netherlands (Williams, 2007) Pirog and Benjamin (2003) also showed that food miles might only represent a small percentage of the total energy inputs in a products life cycle. According to their study, transportation accounts for 11% of the energy use within the total food system, this is considerably less than agricultural production (17.5%) and processing (28.1%) (see Figure 3). To quantify the climate impact of a product, it is essential to consider all greenhouse gas emissions through the whole life cycle of the product and not only the ones related to transportation, or just looking at the distance in miles or kilometers. Figure 3. Energy use in the US food system (Pirog and Benjamin, 2003) Another problem with the food miles concept is that it does not take into account the mode of transport (Saunders et al, 2006). Air freight has by far the highest global warming potential of all transport modes. It is also important to note that there is also a significant difference between road and rail an boat transportation, the latter appears to be more climate-friendly transport modes than road. Transport efficiency also makes a difference. According to Smith et al (2005), there is also a concern that moving to lower food miles (e.g. local sourcing) can have a negative impact on overall transport and energy efficiency. They explain it by the fact that if there is a growth in business for smaller producers and retailers, there could be an increase in energy consumption as smaller vehicles are used and economies of scale in production are lost (Smith et al., 2005). There is also a concern that a reduction of food miles, in particular prohibiting air freighted products, could have an adverse impact on imports from developing countries. This concern is motivated by the fact that farmers in developing country are heavily dependent on exports to developed country markets (Oxfam, 2009). Therefore, restricting air freighted products on a large scale have high impact on farmers of Africa. In this way climate change is going to affect the poor in Africa harder than anyone else, which are the people who have done least to cause the problem. Some business therefore disapprove the use of an airplane symbol such as Marks and Spencers logo. Oxfam for example, supports the initiative for fair miles, one that also takes the fairness of trade with developing countries into consideration. Finally, there is discussion whether policies based on food miles could lead to an increase of food prices. On the one hand, reducing food miles might lead to reduced transportation costs, which, could reduce food prices. On the other hand, locally sourced food can be more expensive than globally sourced food, because economies of scale are lost or due to differences in labor costs (Smith et al, 2005). Conclusion It has been shown that food miles, although initially believed to be a potential good indicator of climate sustainability, has just limited benefits in terms of mitigating climate change. Food transportation represent one of many components of the total environmental impact of food production and consumption. When assessing the environmental impact of food, it is essential to take into account all those different factors, including how food was produced, packed, stored, as well as but not only, how and how far it was transported. The concept can be used for protectionist purposes, but has significant negative side effects. First of all, it is unclear what the impact is for product-related costs and food prices. The implementation of food miles can force companies to put particular attention to the efficiency of the food distribution system beyond their own operations. This leads in particular to a reduction of companies transport-related greenhouse gas emissions. From a cost perspect ive, the implementation of the food miles concept can potentially both reduce and increase companies costs, leading to an increase or decrease of food prices. On the one hand, reducing food miles might lead to reduced transportation costs. On another hand, locally sourced food can be more expensive than globally sourced food, because economies of scale are lost or due to higher labor costs. Secondly, a reduction of food miles, in particular prohibiting air freighted products, could have an adverse impact on imports from developing countries. To conclude, if food producers and retailers want to operate more sustainable ways and mitigate their impact on climate change, they should not only focus on food miles. While increased food transport obviously has an environmental impact, the kilometers that food travels do not per se serve as a valid indicator. The evidence is relatively weak in terms of local sourcing leading to lower impact as a general rule. In addition to environmental considerations, transport has to be seen in a wider context, taking account of the social and economic dimensions of sustainability, both in the EU and globally. Trade and transport is an inherent component of EU policy and it is essential to provide appropriate food supplies throughout the EU market and sufficient consumer choice. Moreover, sourcing products from non-EU countries, in particular developing countries, contributes to the development and wealth of those economies. A transport concept focusing on transport distances alone would there fore seriously undermine a number of key EU policy objectives in terms of social and economic sustainability.