Saturday, November 30, 2019

Options and Derivatives Chapter Essay Example

Options and Derivatives Chapter Paper A trader is hedging when she has an exposure to the price of an asset and takes position in a derivative to offset the exposure. In a speculation the trader has no exposure to offset. She is betting on the future movements in the price of the asset. Arbitrage involves taking a position in two or more different markets to lock in a profit. Problem 1,3, What is the difference between entering into a long forward contract when the forward price is SO and taking a long position in a call option with a strike price of $50? In the first case the trader is obligated to buy the asset for $50. The trader does not have a choice. ) In the second case the trader has an option to buy the asset for $50. The trader does not have to exercise the option. ) Problem 1. 4. Explain carefully the difference between selling a call option and buying a put option. Selling a call option implies giving someone else the right to buy an asset from you. It gives you a payoff of Buying a put option involves buying an option from someone else. It gives a payoff of In both cases the potential payoff is. When you write a call option, the payoff is negative or zero. This is because the counterparts chooses Whether to exercise. ) When you buy a put option, the payoff is zero or positive. (This is because you choose Whether to exercise. Problem 1. 5. An investor enters into a short foamed contract to sell 100,000 British pounds for LIST dollars at an exchange rate of 1. 4000 US dollars per pound. How much does the investor gain or lose if the exchange rate at the end of the contract is (a) 1. 3900 and (b) 1. 4200? (a) The investor is obligated to sell pounds for 14000 when they are worth 1. 3900. The gain is (1. 4000-1. 3900) $1,000. B) The investor is obligated to sell pounds for 14000 when they are worth 1. 4200. The loss is $2,000 Problem 1,6, A trader enters into a short cotton futures contract when the futures price is 50 cents per pound. The contract is for the delivery of 50,000 pounds Ho w much does the trader gain or lose if the cotton price at the end of the contract is (a) 4820 cents per pound; (b) 51. 30 cents per pound? (a) The trader sells for 50 cents per pound something that is worth 48. 20 cents per pound. Gain (b) The trader sells for 50 cents per pound something that is worth 51. 30 cents per pound. Loss . Problem 1. 7, Suppose that you write a put contract with a strike price of $40 and an expiration date in three months, The current stock price is SIS and the contract is on 100 shares. What have you committed yourself to? How much could you gain or lose? Vow have sold a put option. You have agreed to buy ICC shares for $40 per share if the part/ on the other side of the contract chooses to exercise the right to sell for this price, The option will be exercised only when the price of stock is below $40. Suppose, for example, that the option is exercised when the price is $30. We will write a custom essay sample on Options and Derivatives Chapter specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Options and Derivatives Chapter specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Options and Derivatives Chapter specifically for you FOR ONLY $16.38 $13.9/page Hire Writer You have to buy at $40 shares that are worth $30; you lose 510 per share, or $1 ,OHO in total. Fifth option is exercised when the price is 520, you lose 520 per share, or $2,000 in total. The worst that can happen is that the price of the stock declines o almost zero during the three-month period. This highly unlikely event would cost you $4,000. In return for the possible future losses, you receive the price of the option from the purchaser. Problem 1. 8. What is the difference between the over-the-counter market and the exchange- traded market? What are the bid and Offer quotes Of a market maker in the over- the-counter market? The over-the-counter market is a telephone- and computer-linked network of financial institutions, fund managers, and corporate treasurers where two participants can enter into any mutually acceptable contract. An exchange- rated market is a market organized by an exchange where traders either meet physically or community electronically and the contracts that can be traded have been defined by the exchange. When a market maker quotes a bid and an offer, the bid is the price at which the market maker is prepared to buy and the offer is the price at which the market maker is prepared to sell. Problem 1. 9. You would like to speculate on a rise in the price off certain stock. The current stock price is $29, and a three-month call with a strike of $30 costs $2. 90. You have $5,800 to invest. Identify two alternative strategies, one involving an investment in the stock and the other involving investment in the option. What are the potential gains and losses from each? One strategy would be to buy 200 shares. Another would be to buy 2,000 options. Fifth share price does well the second strategy will give rise to greater gains. For example, if the share price goes up to $40 you gain from the second strategy and only from the first strategy. However, if the share price does badly, the second sweater gives greater losses. For example, fifth share price goes down to 525, the first strategy leads to a loss of whereas the second strategy leads to a loss of the whole $5,800 investment. This example shows that options contain built in leverage. Problem l, 10. Suppose you own 5,000 shares that are worth $25 each. How can put options be used to provide you with insurance against a decline in the value of your holding over the next four months? You could buy 50 put option contracts (each on 100 shares) with a strike price of 525 and an expiration date in four months. If at the end of four months the stock price proves to be less than $25, you can exercise the options and sell the shares for $25 each. Problem 1. 11 _ When first issued, a stock provides funds for a company. Is the same true of an exchange-traded stock option? Discuss. An exchange-traded stock option provides no funds for the company. It is a security sold by one investor to another. The company is not involved. By contrast, a stock when it is first issued is sold by the company to investors and does provide funds for the company. Problem 1. 12. Explain why a futures contract can be used for either speculation or hedging. If an investor has an exposure to the price of an asset, he or she can hedge with futures contracts. If the investor will gain when the price decreases and lose when the price increases, a long futures position will hedge the risk. If the investor will lose when the price decreases and gain when the price increases, a short futures position will hedge the risk. Thus either a long or a short futures position can be entered into for hedging purposes, If the investor has no exposure to the price of the underlying asset, entering into a futures contract is speculation, If the investor takes a long position, he or she gains when the assets price increases and loses when it decreases. Fifth investor takes a short position, he or she loses venue the assets price increases and gains when it decreases. Problem 1. 13_ Suppose that a March call option to buy a share for $50 costs $2. 50 and is held until March. Under What circumstances Will the holder Of the option make a profit? Ender what circumstances will the option be exercised? Draw a diagram showing how the profit on a long position in the option depends on the stock price at the maturity of the option. The holder of the option will gain if the price of the stock is above SIS. 50 in March. (This ignores the time value of money. ) The option will be exercised if the price of the stock is above S IS. O in March. The profit as a function of the stock rice is shown in Figure SSL. L. Figure SSL. L Profit from long position in problem I . 13 Problem 1. 14_ Suppose that a June put option to sell a share for $60 costs $4 and is held until June. Under what circumstances will the seller of the option (i. A, the party with a short position) make a profit? Underwear circumstances will the option be exercised? Draw a diagram showing how the profit from a short position in the option depends on the stock price at the maturity of the option. The seller of the option will lose money if the price of the stock is below $56. 00 in June. (This ignores the time value Of money. The option Will be exercised if the price of the stock is below $60. 00 in June. The profit as a function of the stock price is shown in Figure IS . 2- Figure SSL. Profit from short position in Problem 1. 14 Problem 1. 15. It is May and a trader writes a September call option with a strike price of 520. The stock price is $18, and the option price is $2. Describe the investors cash flows if the option is held until September and the stock price is SIS at this time. The trader has an inflow of $2 in May and an outflow of in September _ The 52 is the cash received f rom the sale of the option. The $5 is the result of the option being exercised. The investor has to buy the stock for $25 in September and sell it to the purchaser of the option for $20. Problem 1. 16. A trader writes a December put option With a strike price Of 530. The price Of the option is $4. Under what circumstances does the trader make a gain? The trader makes a gain fifth price of the stock is above $26 at the time of exercise. (This ignores the time value of money. ) Problem 1. 17. A company knows that it is due to receive a certain amount of a foreign currency in four months. What type of option contract is appropriate for hedging? A long position in a tour-month put option can provide insurance against the exchange rate falling below the strike price. It ensures that the foreign currency can be sold tort at least the strike price. Problem 1. 18. A IIS company expects to have to pay I million Canadian dollars in six months, Explain how the exchange rate risk can be hedged using (a) a poniard contract; (b) an option. The company could enter into a long forward contract to buy I million Canadian dollars in six months. This would have the effect of locking in an exchange rate equal to the current forward exchange rate Alternatively the company could ay a call option giving it the right (but not the obligation) to purchase 1 million Canadian dollars at a certain exchange rate in six months. This would provide insurance against a strong Canadian dollar in six months while still allowing the company to benefit from a weak Canadian dollar at that time. Problem 1. 19. A trader enters into a short forward contract on 100 million yen. The foamed exchange rate is 50. 0080 per yen. How much does the trader gain or lose if the exchange rate at the end of the contract is (a) $0. 0074 per yen; (b) $0. 0091 per yen? A) The trader sells 100 million yen for $0. 0080 per yen when the exchange rate is 0,0074 per yen. The gain is millions of dollars or $60,000, b) The trader sells 100 million yen for 50. 080 per yen when the exchange rate is $0. 0091 per yen. The loss is millions of dollars or SSL problem 1,20. The Chicago Board of Trade offers a futures contract on long-term Treasury bonds. Characterize the investors likely to use this contract. Most investors will use the contract because they want to do one of the following: a) Hedge an exposure to long-term interest rates. B) Specul ate on the future direction of long-term interest rates. C) Arbitrage between the spot and futures markets for Treasury bonds. This contract is discussed in Chapter 6. Problem 1. 21. Options and futures are zero-sum games. What do you think is meant by this statement? The statement means that the gain (loss) to the party with the short position is equal to the loss (gain) to the party with the long position. In aggregate, the net gain to all parties is zero. Problem 1. 22. Describe the profit from the following portfolio: a long forward contract on an asset and a long European put option on the asset with the same maturity as the forward contract and a strike price that is equal to the forward price of the asset t the time the portfolio is set up. The terminal value of the long forward contract is: where is the price of the asset at maturity and is the delivery price, which is the same as the forward price of the asset at the time the portfolio is set up). The terminal value of the put option is: The terminal value of the portfolio is therefore This is the same as the terminal value Of a European call option With the same maturity as the forward contract and a strike price equal to. This result is illustrated in the Figure IS 3. The profit equals the terminal value Of the call option less the amount paid for the put option. It does not cost anything to enter into the forward contract. Figure 51. 3 Profit from portfolio in Problem 1. 22 Problem 1,23. In the sass, Bankers Trust developed index currency option notes (ICONS). These are bonds in which the amount received by the holder at maturity varies with a foreign exchange rate. One example was its trade with the Long Term Credit Bank of Japan, The ICON specified that if the yen-U. S. Dollar exchange rate, is greater than 169 yen per dollar at maturity (in 1395), the holder of the bond receives IS,COO, If it is less than 169 yen per dollar, the amount received by the holder of the bond is When the exchange rate is below 84. 5, nothing is received by the holder at maturity. Show that this ICON is a combination Of a regular bond and two options. Suppose that the yen exchange rate (yen per dollar) at maturity of the ICON is. The payoff from the ICON is When the payoff can be written The payoff from an ICON is the payoff from: (a) A regular bond (b) A short position in call options to buy 169,000 yen with an exercise price to 1/169 (c) A long position in call options to buy 169,000 yen with an exercise price of 1/84. 5 This is demonstrated by the following table, which shows the terminal alee of the various components of the position Bond Short Calls Long Calls Whole position 1000 Problem 1. 4. On July I , 201 1, a company enters into a forward contract to buy 10 million Japanese yen on January 1, 2012. On September 1, 201 1, it enters into a forward contract to sell 10 million Japanese yen on January I, 2012. Describe the payoff from this strategy. Suppose that the forward price for the contract entered into on July 1, 2011 is and that the forward price f or the contract entered into on September I, 2011 is with both and being measured as dollars per yen. Fifth value of one Japanese en (measured in LIST dollars) is on January I , 2012, then the value Of the first contract (in millions of dollars) at that time is while the value of the second contract (per yen sold) at that time is: The total payoff from the two contracts is therefore Thus fifth forward price for delivery on January 1, 2012 increased between July 1 , 201 1 and September 1, 201 1 the company will make a profit. (Note that the yen/ USED exchange rate is usually expressed as the number of yen per USED not as the number to USED per yen) Problem 1. 25. Suppose that USED-sterling spot and forward exchange rates are as follows: Spot 1 _SASS go-day forward 1. 4556 I go-day forward 1. 4518 What opportunities are open to an arbitrageur in the following situations? (a) A 180-day European call option to buy II for $1. 42 costs 2 cents. (b) A go-day European put option to sell El for $1. 43 costs 2 cents. (a) The arbitrageur buys a 180-day call option and takes a short position in a 180- day forward contract. If is the terminal spot rate, the profit from the call option The profit from the short forward contract is The profit from the strategy is therefore This is 1. 4318-SST when SST 1. 42 This shows that the profit is always positive. x

Monday, November 25, 2019

Supply and Demand

Supply and Demand Introduction Demand and supply is possibly one of the major economic concepts and the backbone of free market economy. Demand is the quantity of services or products needed by consumers (Mankiw, 2012). The amount of products desired at a particular price is referred as quantity demanded; the relationship between quantity demanded and price is referred as demand relationship (Mankiw, 2012).Advertising We will write a custom critical writing sample on Supply and Demand specifically for you for only $16.05 $11/page Learn More On the other hand supply is what the market can provide and quantity supplied by firms is the quantity of particular product manufacturers are ready to supply at a particular price. The connection between quantity supplied and price is referred as supply relationship; thus, price is the expression of demand and supply, which underlies the forces impacting on the distribution of resources (Mankiw, 2012). Demand and supply The demand law sta tes that â€Å"if all other factors remain equal, the higher the price of a good, the less people will demand that product† (Mankiw, 2012). To be precise, higher price attracts less demand because as the price of the product increases, the opportunity cost increases as well. Thus individuals will not acquire goods that will compel them to decline the utilization of anything else that is of significance to them (Netmba.com, 2010). For instance, if the price of oil increases consumers will look for substitutes such as bicycles or bus instead of using their private vehicles to place of work. Therefore, the demand for the cars will reduce and the demand curve will shift from D1 to D2 reducing the quantity demanded to Q2 as shown on the graph below. Graph 1 Source: Netmba.com, 2010. The shift in demand can also be caused by change in income, for instance if income increases consumers buy less of inferior good and the demand curve for this goods will shift from D1 to D2. While, if the price of the oil reduces consumers will be induced to purchase more (Q3) cars for instance, this implies that the demand curve will shift from D1 to D3. In the same way if the consumers’ income decreases the consumers will consume more of the inferior r products thus shifting the demand curve from D1 to D3 as shown above.Advertising Looking for critical writing on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Conversely, similar to demand law the supply law shows the amount of products that can be put up for sale at a specific price but unlike demand law, supply relationship indicates a positive slope. Therefore, the supplier supplies more products at a high price because trading more products that are priced highly normally raises income (Mankiw, 2012). Consider the increase in price of drilling and refining the oil, this makes the suppliers to reduce the amount produced and supplied (Q2), thus th e supply curve will shift from S1 to S2. While if the production cost or price reduces the oil producer will produce and supply more oil (Q3) to the market therefore, the supply curve will shift from S1 to S3 as shown below. Source: Mankiw, 2012. In conclusion, supply and demand relationship tries to describe macroeconomic variables like price levels and amount of quantity in the economy. It also indicates how various variables like substitute goods, compliments goods, income, consumers’ preferences, advancement in technology and sector growth among others affects the demand and supply of a particular product in the market. References Mankiw, N.G. (2012). Principles of macroeconomics. (6th.). Ohio: South-Western, Cengage Learning. Netmba.com. (2010). Supply and demand. Retrieved from netmba.com/econ/micro/supply-demand/Advertising We will write a custom critical writing sample on Supply and Demand specifically for you for only $16.05 $11/page Learn More

Friday, November 22, 2019

Birth Control Essay Example for Free (#2)

Birth Control Essay Birth control is a way or method used to prevent pregnancy. There are different kinds of methods of birth control that can be used by man and woman. All of these methods have positive effects or sides. The pros of birth control are the following: (1) lessen the possibility of sexually transmitted diseases (STDs) (â€Å"Pros and Cons of Different Contraceptive Methods â€Å"); (2) it is helpful in preventing pregnancy, but the degree of the effectiveness of the birth control method depends on the type of method that is being used by the couple (â€Å"Pros and Cons of Different Contraceptive Methods â€Å"); (3) allows active participation of men in the prevention of pregnancy (when using condom or withdrawal method) (â€Å"Pros and Cons of Different Contraceptive Methods â€Å"); (4) it helps regulate the menstrual cycle of a woman; (5) it lessens the pain and difficulty of having a menstruation (â€Å"Pros and Cons of Different Contraceptive Methods â€Å"); (6) prevents or lessen the possibility of having uterine and ovarian cancer, anemia, ovarian cyst and pelvic inflammatory disease (â€Å"Pros and Cons of Different Contraceptive Methods â€Å"). There are also some other pros of birth control method but it depends on the method that the couple is using (â€Å"Birth Control Pill Faq: Benefits, Risks and Choices†). There are many types of birth control. The following are the types of birth control that is being used: (a) male condoms which are also called as barrier because it blocks the sperm cells from getting near or into the egg cells; (b) oral contraceptives or birth control pills prevent the ovary from releasing eggs; (c) female condom is also called as a barrier because it prevents or blocks the sperm cells from reaching the egg cells; (d) Depo-Provera hormonal injections is a type of birth control that uses hormone progestin. Continuous injection of this for more than two years has an adverse effect on woman; (e) spermicides; (f) contraceptive sponges is also a barrier type of birth control. Although using this type of birth control would still have a risk of having a toxic syndrome. Woman that are very sensitive to spermicide nonoxynol-9 are not encourage to use this type of method; (g) diaphragm and cervical caps also blocks the sperm cells going inside the cervix. This type of method needs the assistance of the doctor for proper usage and fitting of the cervical cap or diaphragm; (h) intra – uterine devices is used and placed inside the uterus to prevent the sperm cells from entering it and reaching the egg cells; (i) surgical sterilization or tubal ligation is a permanent birth control that needs a surgical process; (j) periodic abstinence or natural family planning. In this type of birth control, the woman should have the knowledge about the fertility process so that this method would be successful (â€Å"Birth Control Methods â€Å"). There are some mild health risks related to the use of birth control methods. But there is also one severe health risk when using birth control method such as pills for a longer period of time like cardiovascular diseases such as heart failure, cardiovascular accident or stroke, high blood pressure and other cardio related diseases (â€Å"Birth Control Methods†). Both man and woman are responsible in birth control planning. They have an active participation in the birth control method. Although their physician would prescribe a pill or appropriate birth control method, still the couple would be responsible to the possible outcome of that method. They are the one who can observe to the negative or positive effect of that particular method. When a serious or life threatening situation or death happens, the couple is more reliable than their physician. In choosing birth control method, couples or person that is going to use it must consider if (1) it will affect your health like if they have history of breast cancer, have high blood pressure, has low density of the bone, diabetes, sexually transmitted disease (STD), and heart disease; (2) those possible side effects of the method; (3) frequency of having sexual intercourse; (4) the benefits that the method can give; (5) the quality of that certain drug or method in birth control; and (6) the possible outcome if ever the couple decided to have a child (â€Å"Birth Control Guide†). Shop Lifting Shop lifting is very common especially on malls and convenient stores. People shop lift because they need that particular thing or that they can’t afford to buy the things they wanted to (â€Å"Teenagers Shop Lifting†). Some shop lifters that has the money to buy things thinks that shop lifting gives them the adrenalin rush or thrill that cannot be caught, they think that what they have stolen is not important and they also think that they are not stealing because the owner or the store can afford to buy that again or the store is insured (â€Å"Teenagers Shop Lifting†). In some cases, people shop lifts especially students because of peer pressure. Shop lifters always carry a small bag or large jacket with a large pocket or umbrella (â€Å"Preventing Shoplifting†). Those things can be use to shop lift. Store management or staff should also be aware and alarm when a person puts down their bag because they may place the thing they get simply by dropping it into the bag (â€Å"Preventing Shoplifting†). There are also times that shop lifters are into a group (â€Å"Preventing Shoplifting†). Some of them will distract the attention of the staff while the others do the crime. Shop lifters can be seen mostly in malls that are crowded and convenient stores. The similarities of these two places are that they have a big space and do not have enough staff that would assist and guard the clients or buyers. Those shop lifters know that in places were there’s enough employee to assist and guard them, they won’t be able to the deed because there’s a big chance of getting caught while in malls and convenient store, they can easily place the things they get and hide it in their bags or clothes without being notice by the employees. Shop lifting is a crime that can be categorize as light. In some states, the fine depends on the amount that the shop lifter stolen while the jail time depends on the repetition of the incident (Zukowski). The penalty or fine ranges from 40 to 1000 dollars and the jail time is only 30 days up to 6 months (Zukowski). The society and justice system give the offenders a second chance to correct their action. If they are going to repeat their action, they will be punished again with a higher penalty and possible longer jail time. Compiling an Annotated Bibliography ? â€Å"Birth Control Guide† Ed. US Department of Health and Human Services: FDA Consumer Magazine, 2003. This article focuses on different approved birth control methods. It also provides information about the different types of birth control method and also the severe health risk that may be obtain from the prolonged use of contraceptive pills. ? â€Å"Birth Control Methods†. 2005. Planned Parenthood of Connecticut. June 27 2007. http://www. ppct. org/medical/services/bc_method. shtml. This article talks about different birth control methods. It also provides knowledge about pros and cons of different types of birth control method especially tubal sterilization. ? â€Å"Birth Control Methods† Ed. Us Department of Health and Human Services: National Women’s Health Information Center, 2005. This article provides birth control methods that can be use. It also provides knowledge on what they should take into consider when choosing a birth control method. ? â€Å"Teenage Shop Lifting†. 2006. Indian child. com June 26 2007. http://www. indianchild. com/parenting/teenagers/teenagers_shop_lifting. htm. The article provides the reasons why teenagers try to steal and ways to handle and persuade them. ? â€Å"Birth Control†. 2007. Cool Nurse. June 25 2007. http://www. coolnurse. com/birthcontrol. htm. The article tackles about having safe sex with the use of birth control methods. This provides idea or knowledge about the effectives of each method and the reasons why it is not recommended for teenagers. ? â€Å"Preventing Shoplifting. † Namibian Police 2007. The Namibian Police Force carries out their duty by informing the public of the different crimes and ways how to handle that situation. They encourage the public to have an active participation in fighting the crime to maintain the peace and order in their place. ? â€Å"Birth Control Pill Faq: Benefits, Risks and Choices†. 2007. Mayo Foundation for Medical Education and Research. June 25 2007. . The staff focuses on the advantages and disadvantages of taking contraceptive pills. The staff also discusses other contributing factors that make birth control pills unsafe to use than any other birth control methods. Birth Control. (2016, Aug 09). We have essays on the following topics that may be of interest to you

Wednesday, November 20, 2019

Caring for chronic illness in the rural setting Essay

Caring for chronic illness in the rural setting - Essay Example They also lack knowledge and training about the caring regimen needed for the family members suffering from chronic disease (Smith-Campbell, 2009, p.562). Hence, it is extremely important for health care professionals to design the services which are not only easily accessible to people living in rural areas but also help them in being capable of providing proper care to their family members suffering from chronic conditions. The Obstacles A study by ‘The Dartmouth Atlas Project’ (2006) has found that the chronic diseases like diabetes, heart disease and cancer have affected the health of more than 90 million people in the US (Pierce& Lutz, 2009, p.191). Shapiro (2002) has found that the chronic condition is prevalent in more than one third of young adults aged between 18 to 44 years (Pierce& Lutz, 2009, p.191). A study by AHRQ (2002) has revealed that more than 75% of elder population is suffering from either one or more chronic conditions (Pierce& Lutz, 2009, p.192). T hese studies show how serious is the issue of prevalence of chronic conditions in the US population. It is evident that chronic condition is not limited to a particular age group but is affecting people from every age group. Hence, health care by family members is going to play a vital role in controlling the increase of the chronic diseases in people. However, families from rural setting are facing many obstacles in getting the access to health care services. Inadequate Health insurance Inadequate health insurance has proved to be one of the major problems in accessing proper health care services. A study by Lottero et al. (2007) found that even after having a long term relationship with the health care providers, people from farming profession were denied health care as they were not financially capable of paying the bills for their treatment (Smith-Campbell, 2009, p.562). The major problem with the families seeking health care services for chronic conditions in rural areas is tha t they are either uninsured or underinsured (Smith-Campbell, 2009, p.562). Hence, they avoid the treatment for chronic conditions unless it is an emergency (Smith-Campbell, 2009, p.562). The lack of financial resources and sufficient insurance also make them to avoid getting health screening and preventive measures for chronic conditions (Smith-Campbell, 2009, p.562). Hence, instead of getting under control, the lack of proper resources is leading to growth in the prevalence of chronic conditions. Lack Of Facilities There are many obstacles that people living in rural area face in taking advantage of the medical facilities. They cannot utilize the medical facilities due to lack of follow up facilities required for different kind of chronic condition treatments. A qualitative research, conducted to study the obstacles in implementation of lifestyle and pharmacological changes to improve the chronic condition of ischemic heart disease, found that the use of ACE inhibitors was not poss ible in case of rural patients as it required follow-up blood tests (Putnam, Twohig, Burge, Jackson, & Cox, 2004, p. 401) Unfortunately, people living in the rural area, who suffer from hypertension and congestive heart diseases, cannot use ACE inhibitors as they cannot get an easy access to the blood test facility. Similarly, the facilities for physical exercise are also not accessible to the

Tuesday, November 19, 2019

Teen Pregnancy in the United States Essay Example | Topics and Well Written Essays - 750 words

Teen Pregnancy in the United States - Essay Example The focus of the article then moves on to the steps that could be taken in order to ensure that this issue is dealt with in the most effective manner. It is seen that a multi-dimensional approach is necessary to find out the best solution to the problems related to teenage pregnancy in the United States. Not only there is the need for a more comprehensive educational plan, there is also the need to introduce programs that support the further education and the career of the adolescent mother. In addition, support is also necessary for the mother to understand how to raise the child. The article concludes by discussing the need for a combination of the programs so that there is a comprehensive method to prevent both teenage pregnancies and to support adolescent mothers. Adolescent pregnancy has become a social issue that attracts a very high level of attention because the United States has the highest rate of teen pregnancy among the industrialized countries. The rate of teen pregnancy in the US is almost double of that of Great Britain and over 10 times that of Japan (unc.edu, 2005). Therefore, it is no longer an issue that concerns just the teenager and the family, but it has become a social issue that has larger implications and repercussions that has the local and national impact. The peak period for teenage pregnancies was during the early 1990s when the teenage birth rate was over 60 births per 1000 women. Over a period, this rate has come down slowly. During 2006, this number reduced to 41.9 births per 1000 women (guttmacher.org, 2006). Researchers feel that there are two main reasons for this high rate of teenage pregnancy. One is that the age of menarche is now much lower than what it has been before. This results in an increase in sexual activity without the awareness of its consequences at a much earlier age, resulting in teenage pregnancy (Kaplowitz, 2006).

Saturday, November 16, 2019

The Tell Tale Heart by Edgar Allan Poe and Stone Cold by Robert Swindells Essay Example for Free

The Tell Tale Heart by Edgar Allan Poe and Stone Cold by Robert Swindells Essay Edgar Allan Poes The Tell Tale Heart, is about a man who wants to kill an old man, because the old mans eye freaks him out. After he killed the old man, he starts hearing the old mans heart beating, constantly under the floorboards, driving the man insane. The police come round to see what had happened, after one of his neighbours had heard a scream, he cracks under the pressure and shouts at the top of his voice to the police, as the beating of the heart get louder and louder. Although he can hear it extremely loudly in his ears the police cant hear it at all. So he tells the police what he had done. I think this is a clever way of expressing the mans insanity and it sets the scene well. Robert Swindells Stone Cold however is slightly different. At the beginning of Daily routine Orders 15, Shelter, who is insane, is laughing this shows that he is mad because he also does this at the end of the chapter. Ha, ha, ha. Ha, ha, ha, ha, ha, ha, ha! Thats the sound of Shelter having the last laugh. is the first sentence. As you can see, it is slightly different from Edgar Allan Poe. One of the main reasons for this is that they were written nearly 200 years apart so The Tell Tale Heart will be a lot more formal, such as But why will you say that I am mad and Hearken! and observe how healthily, how calmly, I can tell you the whole story., whereas Stone Cold kind of uses colloquial language, such as Confront the enemy, Shelter old lad. No retreat. No surrender. So this is just one reason why they are different, but why are they the same. Well, they both have a murderer who is insane, and they both have something against the person or people they kill. If you did not know the titles or the authors of these two pieces you would know by the way they have been written that one was written many years ago as the English is very elegant and olde while the other is very modern. They are both similar as when the police arrive they are both trying to hide the fact that they have killed someone even though in Stone Cold he does not admit in this chapter that he has actually killed someone the reader just thinks he has. In Stone Cold, Shelter is cleverer than the man from The Tell-Tale Heart as he keeps his cool through-out very clever insane person, but Poes character has taken his time over his killing and finally at the end he cracks and admits that he has committed the crime. I found the Poe extract quite difficult to understand because Im not used to olde English but read a couple of times you get the understanding of it, where as Swindells extract was much easier to understand, as it is more recently written. Overall I thought both extracts where creative and enjoyable, even if it took a while to understand Poes.

Thursday, November 14, 2019

International Space Station Essay -- essays research papers

International Space Station   Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  The International Space Station, a worldwide project, is the next goal in a quickly growing space frontier. The station will be the first and next step towards researching the vast unknown world of outer space. What will be learned by this station? NASA has only the highest hopes that with the newest advancements in technology up in space, the fundamental physical, chemical, and biological processes can be examined with the absence of gravity, because of the space station.   Ã‚  Ã‚  Ã‚  Ã‚  The space station has been a long awaited project, as the first space station idea was drafted up in 1984. A resolution was made to place a permanent, livable space station in orbit. When President Ronald Reagan announced his 1984 State of the Union address, he included plans for a space station to be in orbit by the mid 1990’s. The idea of having an operable, livable, space station seemed to be inconceivable to everyone who heard that speech. As the ideas for this project began to take off, the main concern was money. How much funding would be necessary to construct a space station? At first, NASA could only work within the agency’s estimated $8.5 billion dollar budget. It was in 1984 when the first construction plan was unveiled, called “Freedom.'; A “power tower'; concept was designed, which is a long slender unit that would be the center of the entire structure. This tower would be a long, narrow piece of latticework, chosen for its stability and to avoid the use of every day thrusts to maintain its altitude. All the laboratory modules would then surround the “power tower.'; A free-flyer module would be used to conduct experiments in incessant, stable conditions away form the main tower structure. The “power tower'; concept required too many parts and shuttle missions for it to be completed. That would force the cost of the project to exceed NASA’s budget. The following year in 1985, a new, updated station concept was drafted. This was called the “dual keel'; concept, and included two vertical towers joined and braced together with three horizontal beams. This structure would allow four pressurized operable and livable modules to be placed around the central meeting points of the beams... ...on. A cooperative effort among 16 nations, the International Space Station will provide living quarters and science labs for long-term stays for up to seven astronauts. In building, operating, and performing research on the station, humanity will gather meaningful experience for future travels beyond Earth orbit. While the station is certain to teach us more about the human body in space, reactions to extended periods in zero gravity, and the effects of these experiments, nothing in this project is guaranteed. NASA is optimistic, but has planned for the worse. Helping the ESA construct three expendable space vehicles by 2003 that could carry and fly the entire station back to earth if needed.   Ã‚  Ã‚  Ã‚  Ã‚  But perhaps the most telling part about this space station is that once completed it will be the size of a city block and will be one of the brightest objects in the sky. That is still years away, but like all great structures ever built, this may be the most dangerous and expensive. The ISS will be a spectacular, challenging experience for us all, and the world can only wait to see what the International Space Station will bring back to the human civilization. International Space Station Essay -- essays research papers International Space Station   Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  The International Space Station, a worldwide project, is the next goal in a quickly growing space frontier. The station will be the first and next step towards researching the vast unknown world of outer space. What will be learned by this station? NASA has only the highest hopes that with the newest advancements in technology up in space, the fundamental physical, chemical, and biological processes can be examined with the absence of gravity, because of the space station.   Ã‚  Ã‚  Ã‚  Ã‚  The space station has been a long awaited project, as the first space station idea was drafted up in 1984. A resolution was made to place a permanent, livable space station in orbit. When President Ronald Reagan announced his 1984 State of the Union address, he included plans for a space station to be in orbit by the mid 1990’s. The idea of having an operable, livable, space station seemed to be inconceivable to everyone who heard that speech. As the ideas for this project began to take off, the main concern was money. How much funding would be necessary to construct a space station? At first, NASA could only work within the agency’s estimated $8.5 billion dollar budget. It was in 1984 when the first construction plan was unveiled, called “Freedom.'; A “power tower'; concept was designed, which is a long slender unit that would be the center of the entire structure. This tower would be a long, narrow piece of latticework, chosen for its stability and to avoid the use of every day thrusts to maintain its altitude. All the laboratory modules would then surround the “power tower.'; A free-flyer module would be used to conduct experiments in incessant, stable conditions away form the main tower structure. The “power tower'; concept required too many parts and shuttle missions for it to be completed. That would force the cost of the project to exceed NASA’s budget. The following year in 1985, a new, updated station concept was drafted. This was called the “dual keel'; concept, and included two vertical towers joined and braced together with three horizontal beams. This structure would allow four pressurized operable and livable modules to be placed around the central meeting points of the beams... ...on. A cooperative effort among 16 nations, the International Space Station will provide living quarters and science labs for long-term stays for up to seven astronauts. In building, operating, and performing research on the station, humanity will gather meaningful experience for future travels beyond Earth orbit. While the station is certain to teach us more about the human body in space, reactions to extended periods in zero gravity, and the effects of these experiments, nothing in this project is guaranteed. NASA is optimistic, but has planned for the worse. Helping the ESA construct three expendable space vehicles by 2003 that could carry and fly the entire station back to earth if needed.   Ã‚  Ã‚  Ã‚  Ã‚  But perhaps the most telling part about this space station is that once completed it will be the size of a city block and will be one of the brightest objects in the sky. That is still years away, but like all great structures ever built, this may be the most dangerous and expensive. The ISS will be a spectacular, challenging experience for us all, and the world can only wait to see what the International Space Station will bring back to the human civilization.

Monday, November 11, 2019

Ray Bradbury’s “There Will Come Soft Rains” Essay

What would the world be like if mankind disappeared? This is the theme of Ray Bradbury’s story â€Å"There Will Come Soft Rains†. All of the characters in the story are machines, which through personification take the place of human characters. The theme of man’s destruction reverberates throughout the story. Bradbury uses personification to describe the mechanical creations of man that eventually lead to the story’s theme of the destruction of mankind. There are no human characters at all in the story; instead, there are machines with human characteristics. Miller notes that personification is constantly used to describe the house’s actions (1). This is seen in the first line of the story,† In the living room the voice-clock sang, Tick-tock, seven o’clock, time to get up, seven o’ clock! as if it were afraid that nobody would† (Bradbury 76). The distress of the voice-clock gives it a humanoid impression, which allows it to take the place of human characters. Another interesting example of personification is seen in the way that Bradbury describes the robotic mice. â€Å"Behind it whirred angry mice, angry at having to pick up mud, angry at inconvenience† (Bradbury 77). However, machines are incapable of feelings. Hicks observes that readers are reminded that the rodent readers are mechanical, and that feelings-â€Å"those highly praised human emotions†-cannot exist in machines (234). In fact, there is only one living character in the whole story. As Jennifer Hicks points out, the only live being in the house is the dog, who enters mid-story (234). The dog is not very seemly. â€Å"The dog, once huge and fleshy, but now gone to bone and covered with sores, moved in and through the house, tracking mud† (Bradbury 77). It is pathetic and dying, much like the human race. Life after the destruction of man is the main theme of the story. It is hinted in the story that an atomic bomb was the cause of man’s demise. Bradbury does not blatantly tall the reader that an atomic catastrophe occurred, but reveals it by describing the house and its surroundings (Miller 6). The reader is told that, â€Å"The house stood alone in a city of rubble and ashes. This was the one house left standing. At night the ruined city gave off a radioactive glow which could be seen for miles† (Bradbury 77). The â€Å"ruined city† and â€Å"radioactive glow† give readers enough clues to  conclude that atomic warfare was the cause of man’s downfall. While it is known that the earth is now empty, Bradbury also indicates that it was empty before the bomb. Peltier suggests that this world was empty even before the destruction, with mechanical mice vacuuming and a sing-song clock telling time. The dull, mechanical world was empty long before people were taken from it (238). This can be seen in the nursery, where â€Å"Animals took shape: yellow giraffes, blue lions, pink antelopes, lilac panthers cavorting in crystal substance. The walls were glass. They looked out upon color and fantasy† (Bradbury 78). Children do not even go outside to enjoy nature, but watch it on their mechanical walls, their lives growing more and more hollow and empty. Another point that Bradbury makes is that if man disappeared, nothing would care, or even notice. Peltier explains that â€Å"The title of the story, taken from the poem quoted within it, suggests that if humankind were gone, nature would not only endure, but it would also not even notice our disappearance† (237). Sara Teasdale’s poem best illustrates this. â€Å"And not one will know of the war, not one/Will care at last when it is done./Not one would mind, neither bird nor tree,/If mankind perished utterly;/ And Spring herself, when she woke at dawn/ Would scarcely know that we were gone (Bradbury 79). Indeed, life would go on after mankind, and would go on peacefully. Therefore, Bradbury’s use of personification describe the machines that eventually lead to the story’s theme of mankind’s destruction. Personification allows the machines to show us what the people who owned the house were like: cold, impersonal, and oblivious to the outside- characteristics that led to both man and machine’s downfall. The author uses the story’s theme of the destruction of man to show readers the effects of becoming too dependent on machines and withdrawing from nature and the world. The chilling thing about Bradbury’s story is the acknowledgment of human dependency on machinery today, and the realization that in such a technologically advanced world, the story could easily become reality.

Saturday, November 9, 2019

International Bonds: Credit Ratings

Why do most International bonds have high Moody or Standard & Poor's credit ratings? Credit Rating Is a social Intermediary service to provide credit Information and reference for the community. Credit rating Is alma to show the size of a credit default risk the rating object, rating agencies focus on financial conditions and historical data to give the overall valuation of object. Currently, credit rating on the issue of international bonds is the popular investment risk valuation method in the international capital market.Specifically, this is assessed on debt servicing capacity of the issue bonds in a period, its fundamental purpose is to protect the interests of investors. At present, there are about 20 credit rating agencies on the issue of international bonds over the world, Moody, Standard & Poor's are the top 2 institution all over the world. Though they are private institution, but the rating scale and guidelines gradually become recognized as Internationally accepted sample s with considerable authority. Credit rating Is the traffic permit' for bond issuer to enter theInternational bond markets. International bonds with high credit rating mastered the global Information dominance and capital allocation rights. The rating will directly affect the level of costs and interest rates of oversea companies, it also can affect the strength of a business or even the survival and development of a country. Credit rating could provide objective and impartial credit information in order to strengthen management, avoid risks, optimize investment, boost sales and improve efficiency.High credit rating can increase the international business community awareness, improve competitiveness, to expand markets, increase sales and achieve rapid development of enterprises, expanding the scope of corporate finance at the same time, promoting financing success. High credit rating also can reduce financing costs in international enterprises. Companies with high credit ratings can get more credit policy In economic exchanges, easily to expand the scale of financing, therefore reduce financing costs.Q. What should a borrower consider before issuing dual-currency bonds? What should an investor consider before investing in dual-currency bonds? Dual-currency nod is a bond that is issued in a currency and pays coupons in the currency as well. At due date, the capital is paid in another currency. The coupon rates for dual- currency bonds are usually higher than other straight fixed-rate bonds. The amount of principal would set when the bond is issued based on currency appreciate.There are many motivations for Issuing the dual-currency bond, but the core reason is due to the long-term foreign currency offered by bank are rarely more than a decade, it must be used In order to avoid the foreign exchange risk. Exchange rate uncertainty would primarily considerate for both the borrower and Investor when dealing with dual-currency bonds. Currency fluctuation will Influe nce whether a borrower or issuer will gain or loss. As for the borrower, if the issued currency appreciates or principal, thus, the borrowers will benefit.However, if the issued and coupon currency depreciate or principal currency appreciates, the borrower will suffer a loss from exchange rates. As for the investor are opposite to borrower. If the principal currency appreciates or issued currency depreciates, the principal repayment they chive will be more valuable than the issued currency repayment, thus, the investors will benefit. On the contrary, they will suffer a loss from exchange rates. Normally, coupon rate dual-currency bond is higher than the single-currency bonds.On the publisher's point of view, the repayment in different currencies may get lower risk, therefore, the bond issuers were willing to pay a higher coupon rate in order to reduce exchange rate risk, and choose to pay the dual-currency bond. Q. Discuss the process of bringing a new international bonds issue to m arket. The main international bond issuance processes are as follows: (1) The issuer will contact an investment banker and ask it to serve as lead manager of an underwriting syndicate.

Thursday, November 7, 2019

Pro-Form - Definition and Examples in English Grammar

Pros in English Grammar Pro-form is a word or phrase that can take the place of another word (or word group) in a sentence. The process of substituting pro-forms for other words is called proformation. In English, the most common pro-forms are pronouns, but other words (such as here, there, so, not, and do) can also function as pro-forms.   The pro-form is the referring word in a sentence; the word or word group thats referred to is the antecedent. Examples and Observations: My grandmother started walking five miles a day when she was sixty. Shes 97 now, and we dont know where the hell she is.   (American comedian Ellen DeGeneres)Our father ...came back in the morning and told us he had found lodgings, and so we went there. They were east of the harbour, off Lot Street, at the back of a house which had seen better days.  (Margaret Atwood, Alias Grace. McClelland Stewart, 1996)One day in English class I passed Bill Hilgendorff a note. I love you, the note said. He folded it up and looked straight ahead. Then I whispered to him that he could live his whole life long and no one would ever love him as I did. I thought this was an amazing and daring and irresistible thing to do.  (Tereze Glà ¼ck, May You Live in Interesting Times. University of Iowa Press, 1995)We had offers to play in Hong Kong, and I always wanted to go there, but I wouldnt agree to do it because it wasnt going to add any more profit to the tour.  (Johnny Ramone, Commando: The Aut obiography of Johnny Ramone. Abrams, 2012) When the tzar was seated, everyone else sat, and so did we.  (L. E. Modesitt, Jr., Ghost of the White Nights. Tor Books, 2001)Boldly, Stein leaps from her short history of open source to the future of Canadian federalism. One might have expected her to develop her argument in the direction of scenario IV, but unfortunately she did not.  (Ruth Hubbard and Gilles Paquet, The Black Hole of Public Administration. University of Ottawa Press, 2010)Im proud of the many ways youre growing, and I hope you are, too.  (Fred Rogers, Dear Mr. Rogers. Penguin, 1996) Rogers, Does It Ever Rain in Your Neighborhood?: Letters to Mr.People cheerfully mixed the spiritual and the mundane, and I did as well.  (Gwendolyn M. Parker, Trespassing: My Sojourn in the Halls of Privilege. Houghton Mifflin, 1997) So and Not as Pro-Forms   Sometimes pro-forms represent less clearly identifiable constituents: (6) He may decide to join us next week, but I dont think so.(7) Speaker A: Will he join us next week?Speaker B: I hope not. In (6) the adverb so represents the preceding clause but with an appropriate change of operator: . . . but I dont think he will join us next week. In (7), the adverb not represents the whole of the preceding clause but changes it into a negative statement: . . . I hope he will not join us next week.  (Carl Bache, Mastering English: An Advanced Grammar for Non-Native and Native Speakers. Walter de Gruyter, 1997) Do as a Pro-Form Do is used as a pro-form when the predicate itself and all the complements which follow it are elided (Jack hurt himself fetching water, and Jill did, too). If another auxiliary is present, the pro-form do is less common (Has Jack hurt himself? Yes, he has; also, Yes, he has done . . .). Note that the pro-form do is not the same lexeme as the auxiliary do; the latter has only the forms do, does, did while the pro-form has these as well as done and doing.  (Stephan Gramley and Kurt-Michael Ptzold, A Survey of Modern English, 2nd ed. Routledge, 2004)

Monday, November 4, 2019

Modern Dance Research Paper Example | Topics and Well Written Essays - 1250 words

Modern Dance - Research Paper Example She did this through the gestures that she made using her body. Through her subject matter, Graham was found to have made numerous transformations in dancing. It is in the sense that most of her themes can be easily analyzed. It is as a result of these efforts that Martha graham was able to create revolutionary changes and making a lot of influence among the people who interacted and watched her dances. Therefore, it can be said that it is because of her immense attention and keenness to a number of actions that she was able to emulate and encompass in her dances to attain success. This paper will discuss her unique efforts and characters in relation to her dance and the influence that it has had in the modern dance society since its introduction. Martha Graham is recognmized as one of the greatest artists that ever existed during the 20th century. She created a language that was based on movement and the capacity of the human body to make varied expressions. This exemplary performance and element of influence has its roots from the time that she started to teach a group of dancers who had become interested in her creative works. Martha Graham had a great impact in the American society since she was a dancer who was extremely influential. She was also a teacher who additionally choreographed modern dance. Martha was able to give a new depth to dance and express her emotions in a forceful manner with the way that she came up with different creations (Kessel 42).Throughout the many decades and ages, she became widely known all over the world. She released her first debut in the early years of 1920’s. She gained more and more experienced as she progressed in her career. In addition, she also became wiser in the field of modern dances. By some people though, the style that was used by Martha Graham was considered to be controversial. Nonetheless, she worked her ways through become

Saturday, November 2, 2019

Discuss these questions for The United Nation Environments Program ( Essay

Discuss these questions for The United Nation Environments Program ( UNEP ) - Essay Example The operations in crucial matters such as Economics, Industry, and Technology are made more favorable by situating their major offices in Paris and Geneva. Any organization, no matter the size, must have key stakeholders (Shafritz & Ott, 1996). In the same way, UNEP has major actors in its daily operations, which ensure that the ecosystem of the organization favors the objectives and that all the goals are fully achieved. UNEP’s comparative advantage lies in working with technical and scientific communities; in monitoring and assessing, as well as linking to environment ministries. The Committee of Permanent Representatives and the Governing Council, who are the chief formal governance mechanisms, meet on a regular basis to give adequate guidance and oversight. There are a few challenges that the environment presents to UNEP. The worst of all are the environmental disasters. Developmental and economic operations interact with components of the habitats and may probably cause the changing patterns of activities; creating severe environmental and natural phenomena (Tompkins, 2004).This is a major challenge to the UNEP as it may not be in a position to handle natural calamities, which are harmful to both the ecosystem and to human beings. Human behavior is another factor of the environment that challenges this organization. They are directly linked to various trends, such as population growth, increase in poverty, unwise land use, disturbance of initially stable ecosystems, and environmental degradation. Such factors exposed to the environment may be a big problem for UNEP to handle within a short period of time. The environment is still at the margin of socio-economic growth. Excessive consumption and poverty continue putting heavy pressure to UNEP, especially in places where awareness and action are not coordinated