The Theory and Practice of Investment Management Essay

The Theory and Practice of Investment Management - Essay Example The calculations are appeared in the accompanying table. Table no.1 Number of agreements important to be supported Contract Amount $ 7,500,000.00 Hedge Ratio 0.5 Price 97 No of agreements 38660 Part 2 I. So as to close the position, the organization should purchase fates contracts for March 2013, at the cost 97.6. II. The exchange on the prospects showcase brought a misfortune equivalent to: no of agreements *(selling value purchasing cost). The calculations are appeared in the accompanying table. Table no.2 Final situation from the fates exchange Price (short position) 97 Price (long position) 97.6 No of agreements 38660 Loss $ - 23,195.88 Part 3 I. The connection between the cost of things to come contract and the financing costs available is an opposite relationship. Along these lines, for this model, the cost of things to come contract has brought suggesting a decrease up in the loan fee. II. The organization has fixed its acquiring cost uniquely for half of the introduction. The powerful obtaining cost is processed as: r= 100-97= 3% So, the organization will get cash at 3%. III. The organization didn't fence all the dangers required by the exchange above. Right off the bat, it just supported half of its loan cost introduction. Also, dangers identified with changes in the chief obtained, or the money wherein this one is communicated are not supported. Question 2 There are different speculations identified with profit arrangements. One of the most significant hypotheses in this issue is the insignificance proposition of Modigliani and Miller (Fabozzi and Drake, 2009). Under specific suspicions, Modigliani-Miller contends that profit strategy is unimportant (no duties, no exchange costs, no issuance costs, no insider data, a fixed venture strategy). At the end of the day, the management’s choice to change profit esteem doesn't decide a move in firm worth too on the grounds that the investor riches is dictated by the salary produced through the venture strategy of the firm, and not the manner in which the firm conveys the pay (Miller and Modigliani, 1961). Another hypothesis depends on the â€Å"bird - in †the-hand† speculation. This expect the money related markets are portrayed by vulnerability and blemished data, and along these lines, profits ought to be considered uniquely in contrast to held income. In addition, all financial specialists would need to get profits for example money (â€Å"bird-in-the-hand†) instead of future capital additions from the advancement of the stock (â€Å"two in the bush†). In this way, a firm which offers a high profit proportion would convey great signs to the market, helps the financial exchange, lastly expands the firm’s esteem (Walter, 1963). A hypothesis which negates the â€Å"bird-in-the-hand† hypothesis depends on the assessment impact speculation. This hypothesis expresses that a lower profit strategy would bring down the expense of capital of the f irm and along these lines increment the stock worth and the investors riches (Bajaj and Anand, 1990). The beginning stage for this end is thinking about the higher tax assessment from profits contrasted with capital increases. Besides, the profits are burdened just after are paid, while capital additions are burdened until the snapshot of sell. This thought of duty points of interest of capital increases contrasted with accepting profit decide financial specialists with be pulled in of organizations with higher held income than a higher profit strategy (Pettit, 1977). Considering the organization Swan Dane Ltd., which is keeping steady a high profit strategy, can be bolstered by the â€Å"

Paul is an Artist of International Fame Essay Example | Topics and Well Written Essays - 750 words - 7

Paul is an Artist of International Fame - Essay Example He will be with us in Houston, for two days. The gathering setting is at Richmond.† On the finish of the primary day of the class, at my request, Paul uncle gives a concise presentation about his craft. â€Å"The supporting UNO organization has made all the game plans for my boarding and housing. I detest the atmosphere of remaining in a 5 Star lodging. I eat straightforward home food. I live with my three kids and we have a familial house in a two-section of land plot in suburbia of Port-au-Prince.† â€Å"My youngsters are hitched, and we live as a joint family. My two children are not keen on this employment and the oldest one takes a restricted enthusiasm for this workmanship which is brimming with intricacies.† But when all is said in done, Paul gives loads of data on the copper-craftsmanship and the current state of craftsmanship in Haiti. â€Å"Many conventional artistic expressions of Haiti are dying in some horrible, nightmarish way with no energy about veritable craftsmanship and need shine approach of the Government specialists. Materialistic human progress has affected life in all the portions of life. Individuals have lost love for craftsmanship. By seeking after this as craftsmanship as an employment, it is hard to squeeze out a living†¦.my youngsters are correct maybe to seek after elective vocations, where there is cash. My subsequent child has just moved to Australia. † I visit him following 5 years. His home is on a hillock in the removed rural areas of Haiti. He has issues in remembering me yet with the notice of â€Å"Houston,† he grasps me. We talk a great deal about Haiti craftsmanship and his copper plates and pitchers specifically. He shows a portion of his hundreds of years old family assortments of pitchers. At the point when I reveal to him that â€Å"Traditional Art of Haiti† is one of the subjects that I instruct at the school level, he is significantly interested. Â

[Guest Post] Those Kids in Uniform

[Guest Post] Those Kids in Uniform Hi all! My name is Catherine J. ‘22. I’m studying Computer Science (Course 6-3) and I’m a sophomore cadet in Air Force ROTC.   ROTC is an amazing program and a huge part of my life. However, it’s hard to understand what ROTC is unless you’re in it or you’re familiar with the military. I wanted to answer some of the questions I get the most, and provide specific information about the rewarding experience of being a cadet here at MIT.   So what actually is ROTC? ROTC stands for Reserve Officers Training Corps. Basically, it’s training to become an officer in the U.S. Military. ROTC gives students the opportunity to complete that training while they are in college, so that they can commission at the same time as their graduation.     Here at MIT we host ROTC programs for three branches of the military: Navy, Army, and Air Force. Since I am an Air Force cadet, I complete their training curriculum and attend their activities. At last week’s LLAB, we worked as a team to learn “Wargaming,” which is like a more complex game of Risk but with actual Air Force assets. It mimics the operations of the Air Force in areas of conflict. Are you required to join the military after graduation?   The short answer is yes. If you finish ROTC, there is a four-year active duty commitment (for most careers some careers like pilot have longer commitments). However, if you are not on an ROTC scholarship and just want to give the program a try, you can do so with no obligation freshman and sophomore year.   After sophomore year, you go to Field Training and commit to finish ROTC and commission. Field Training is specific to Air Force ROTC and other services have a different training structure, but all require military service upon completion of the program. What does your week look like?   [Monday 3-4pm] ROTC Class: Yes, we actually do have a class class. You go to the Air Force Classroom which looks like your typical high school classroom, except wayyyy cooler because it’s decked out with pictures of fighter jets. Freshman year you cover a lot of introductory material and basic information about the Air Force. Sophomore year is all about leadership skills. Junior and senior year class is slightly longer, and you learn about how doctrine, strategy, and leadership fit together and you prepare for commissioning.   [Tuesday 3-5pm] Leadership Laboratory (LLAB): LLAB has more hands-on activity, like drill (basic marching), team building exercises, and introductory combat skills. The goal of LLABs varies year to year: freshman year it’s learning, sophomore year it’s preparing for Field Training, and junior and senior year it’s practicing your leadership skills. Juniors and seniors are in charge of actually planning and running LLABs. At this LLAB last Fall, we learned how to administer emergency care to a fallen pilot. [Wednesday 7-8 am] Physical Training (PT): What we do varies from week to week and day to day. However it mostly centers around training to pass the Physical Fitness Assessment (PFA) each semester, which is required to stay in the program. The PFA consists of 1 minute of push ups, 1 minute of sit ups, and a 1.5 mile run. We just took this semester’s PFA in mid-October. I’m happy to say that each time I’ve taken the PFA I’ve gotten a better score than the last time, so whatever workouts they give us in PT sessions seem to work for me!   [Friday 7-8 am] Physical Training (PT): same as above Is there a summer commitment? I feel the need to emphasize that this varies greatly between the branches, so I can only speak for Air Force. Air Force only has one required summer commitment: Field Training.   During your sophomore year, you apply for a slot to go to Field Training, which is 2 weeks of boot-camp style training. You get yelled at a lot and evaluated on things like drill and leadership skills. Every cadet has to successfully complete Field Training in order to commission. As previously mentioned, I’m currently a sophomore, so I will attend Field Training this summer :) Other than that, your summers/IAP are free to do whatever you want! However, AFROTC has many opportunities to fill your summers if you want to. These range from spending a couple weeks on an Air Force base learning the daily life of an officer, to spending an entire summer abroad learning a language like Russian, Arabic, Mandarin, Korean, or Swahili. I think this is one of my favorite things about ROTC. I never feel the same pressure as other MIT students to attend career fairs, apply excessively to internships, or network with companies. I have the peace of mind that a job is waiting for me on the other side of graduation, and I can make schoolwork my priority. I only take internships and opportunities that I actually think I will learn from, and the Air Force provides me with additional options for expanding my skills that are only available to cadets.   What’s your favorite part of ROTC?   Besides what I mentioned above, this sounds really cliche, but meeting amazing friends has been my favorite part of ROTC. The program has given me the unique ability to meet and maintain relationships with students from Harvard, Tufts, and Wellesley because all those schools feed into our ROTC detachment at MIT. In the Air Force, being a good “wingman” is something highly valued, so friendship and teamwork are both very strong.   So are you going to fly planes?   While many cadets go through the program hoping to be selected for the coveted pilot slot during their junior or senior year, that does not interest me all that much. My dream job in the Air Force is a Cyber Warfare Operations Officer. I’m lucky that the Air Force has such a wide range of opportunities, and I’m able to serve my country in a way that I find exciting and matches my skill set. There’s way too many jobs for me to list them all, but here’s a link if you want to browse through them.   That’s all! Thanks for reading this super long post. If you have any questions you can comment below and I’ll try my best to answer them.

Comparing the Beliefs of Martin Luther King and Malcolm X...

Comparing the Beliefs of Martin Luther King and Malcolm X By April 1968, two of the worlds most remembered civil rights leaders, who fought for a difference in black America, had been assassinated. Despite their different beliefs and their different ways of promoting this message, they both had the same goal in mind; to promote black respect and pride. The visionary and angry voices of Martin Luther King Jr., and Malcolm X together transformed theological thinking in the African-American community. Martin Luther King Jr. believed that all blacks and whites should be treated equally as it was written in the Constitution and the Declaration of Independence. In his most renowned speech, ‘I Have a†¦show more content†¦He also believed in non-violent protests such as ‘sit-in’s’, freedom marches, speeches against injustice and silent protests, he believed that it was never right to use violence because this does not express the love of God, it just expressed hatred. Even after his home was bombed, his family received threats against their lives, and he himself was even stabbed, he still did not respond by using violence. King learnt about this idea of non-violence while studying Gandhi at college and became impressed with the strength that this man had for not retaliating with violence when it was put on him. Gandhi was an important leader in India; to rid the British from his country, Gandhi had his followers protest non-violently for their departure. Whilst on a visit to India, where King spoke to some of Gandhi’s followers, King became more and more sure that the way of non-violence was the way to go to ensure his wishes of freedom came about. The words of Gandhi that inspired King in his struggle for freedom without violence were, â€Å"Soul-Force is infinitely superior to body-force. If people, in order to secure redress of wrongs, resorted to Soul-Force, much of the present suffering would be avoided. There is no such thing as failure in the use of this kind of force. `Resist not evil means that evil is not to be repelledShow MoreRelatedComparing Martin Luther King and Malcolm X Essay782 Words   |  4 PagesComparing Martin Luther King and Malcolm X Martin Luther King and Malcolm X are to diverse individuals with two opposite personalities but both successfully succeeded in achieving freedom and bringing equality to black Americans discriminated against for many years even after the abolishment of slavery. Martin Luther King was born in 1929, in Georgia, Atlanta. Unlike the other black people in the southern states he was different he grew up in well off family who wasRead MoreMartin Luther King And King Remembered By Malcolm X Analysis804 Words   |  4 Pageswithout the help of notable activists Martin Luther King Jr and Malcolm X. Two bold and heroic men, one nonviolent and the other defiant. Yet, despite their different approaches to unjust acts each man made a similar difference. In the book King Remembered, authors Flip Schulke and Penelope O. McPhee quote King when he gracefully states, â€Å"If you want to say that I was a drum major, say that I was a drum major for justice; say that I was a drum major for peace†¦Ã¢â‚¬ . King stood righteously for nonviolenceRead MoreAfrican Americans And The Civil Rights Movement1260 Words   |  6 Pageswith hate and anger. The Civil Rights Movement is embodied in dramatic recorded speeches. Speeches like â€Å"I have A Dream†, the â€Å"Black Revolution†, and â€Å"Black Power’ and Coalition Politics. These speeches were written by great leaders. Martin Luther King Jr, Malcolm X, and Bayard Rusting were just some of the wise leaders of the Civil Rights. However, these influential leaders had a different view on how things had to be done during the civil rights movement. In 1954, the U.S. Supreme Court declaresRead MoreMartin and Malcolm Essay2150 Words   |  9 PagesAlthough Martin Luther King and Malcolm X both provided exceptional leadership during the Civil Rights Movement in the 1960s, both took different paths in fighting for African American rights. The two, separately, were the defining figures of the 1960s black freedom struggle. On one side, you had a comfortable middle-class family southern Baptist: King, who advocated nonviolence learned through the studying of Gandhi juxtaposed with X, advocating social awareness who learned by experiencing injusticeRead MoreTorture and National Security: A Moral Question Essay1388 Words   |  6 Pagesaddresses the second question, Can violence ever be moral? with a specific focus on torture as a form of getting information about national security and terrorist activity. Shue begins his article by outlining a series of since, then statements comparing just-combat killing to torture that is typica lly used to defend the use of torture (Shue 125). The typical defenders of the method compare torture to just-combat killing, arguing that, among other things, since just-combat killing is the total destructionRead MoreBible Versus the Toran12356 Words   |  50 PagesTHE BIBLE COMPARED TO QURAN PAGE 24-28 VII. FIVE PILLARS OF ISLAM COMPARED TO THE TEN PAGE 29-34 COMMANDMENTS VIII. COMPARING THE LIFE OF TWO AFRO-AMERICANS (1) MALCOM X - ISLAMIC MUSLIM/QURAN PAGE 35-43 8 (2) MARTIN LUTHER KING JR. - CHRISTIAN/BIBLE PAGE 44-48 9 (3) BOTH MENS POLITICAL VIEWS ON VIOLENCE AND PAGE 49-56 CHANGE IN SOCIETY Read MoreThe Blacker The Berry, By Kendrick Lamar1420 Words   |  6 Pagesof non-violent and violent protests. Examples of people who believed in each of these ideologies are Martin Luther King Jr. who used non-violent protest and Malcolm X who used violent protests. Kendrick Lamar who has had song that are on both sides of the spectrum from his song â€Å"I† which is more like Martin Luther King Jr.’s nonviolent beliefs to â€Å"The Blacker the Berry† which is more like Malcolm X’s thinking of self-hatred. In light of many of these issues along with the fact that racism is stillRead MoreEssay on Rhetorical Analysis of Artifact: The Ballot or the Bullet2568 Words   |  11 PagesRhetorical Analysis of Artifact: The Ballot or the Bullet Speech Given by Malcolm X I. Introduction: Though almost half a century has passed, the Civil Rights Movement remains one freshly imprinted in not only the history books of US schools but also in the minds of countless Americans. Albeit, American society has come quite a ways in the acceptance of the individual - regardless of sex, age, creed or ethnicity - prejudices of different sorts are still to be foundRead MoreNelson Mandela And The Game That Made A Nation2093 Words   |  9 Pagesdefinitely the protagonist however throughout the book he does not appear to change much. Unlike the protagonists and main characters in other books who usually experience a drastic inner change Mandela remains constant throughout the book. Still comparing Mandela to Odysseus, though both faced obstacles and challenges in their journey Mandela never experienced an inner change that would affect him in any way. Odysseus experience not only one, but various inner changes throughout the course of theRead MoreFar from Heaven Essay1206 Words   |  5 Pagesracism and homosexuality were serious problems the society faced back in the 1950s; however, nowadays the problem is not as serious and intense but it is still prevalent in some societies. First, According to Britannica online, racism â€Å"is the belief in the inherent superiority of one race over others†. Many people believe that it depends on if a person was brought into the world as a racist or not, but that is not the case at all. In fact, an individual cannot be born a racist but only learn

A Concept Analysis of Diversity Essay - 1418 Words

Diversity has many definitions but only one true meaning. This concept Analysis is dedicated to exploring the broadened sense of diversity through active concepts with respect to term usage, and current literature research to support the understanding and relevance of the term itself. Search Terms: Diversity, Ethnic Variety, and Variation Introduction: Definition The dictionary definitions for the term â€Å"Diversity† are fairly similar in nature. The American Heritage Dictionary describes the following â€Å"The fact or quality of being diverse; difference† and also â€Å"A point or respect in which things differ†¦variety or multiformity†. Merriam-Webster describes the definition as â€Å"†¦Being composed of differing elements† and goes on to†¦show more content†¦Antonyms: agreement, conformity, equality, facsimile, homogeneousness, likeness, similarity, uniformity, and unity. Over the past 25 years, society has shifted dramatically in a new direction. The demographic makeup of the United States continues to change drastically. Because of this change, everyone will be required to become increasingly aware of the people in their surroundings. Some may argue that diversity is based on gender, sex, creed, origin, or some other form of tangible trait however; diversity is much more than that. The American Nurses Association produces the Online Journal of Issues in Nursing. This publication has written several scholarly articles about diversity and healthcare. The article, Many Faces, Campinha-Bacote, states â€Å"Diversity. It is a word that means something different to each and every person†. What a great definition. As I continue to do research I am seeing more and more information about diversity and other people’s definition of what it is. One website I came across while compiling this research included http://www.diversityrx.org/ This p articular site is devoted to providing resources to the community and healthcare employees about trends in diversity. This website is for anyone interested in cultural diversity issues. Healthy People 2010, is a ten-yearShow MoreRelatedDiversity a Concept Analysis Essay3739 Words   |  15 PagesDIVERSITY: A CONCEPT ANALYSIS TONYA BROOKS, AMY TALLEY, ANNAMMA THOMAS TEXAS WOMEN’S UNIVERSITY Abstract The concept of diversity is one that individuals may not think of when they think of nursing. Diversity is a major component to nursing and the care that is provided to patients. In this concept analysis, antecedent, attributes and consequences of diversity are identified. The following antecedents are: race, social economy, knowledge, gender, andRead MoreNursing Workgroup Diversity and Performance Analysis1716 Words   |  7 PagesThe study aims to examine relationships among nursing workgroup diversity, workgroup processes and workgroup performance. According to the article, research is needed for a better understanding of the implications of diversity (age, race, unit tenure, RN experience and education) on nursing work group performance (patient falls, satisfaction and medication errors). The authors explain that diversity of the nursing workforce has increased over the past 10 years, supporting statistical evidence isRead MoreStrategic Human Resource Management : A Deeper Un derstanding Of The Dominant And Minority Cultures Essay839 Words   |  4 PagesRomero, F., Gonzalo Sà ¡nchez, G. (2013). Workforce diversity in strategic human resource management models. Cross Cultural Management, 20(1), 39-49. doi: http://dx.doi.org/10.1108/13527601311296247 RQ How effective is workforce diversity without a deeper understanding of the dominant and minority cultures in human resource management? The article expounded on how strategic human resource management can get the most out of workforce diversity via the universalistic, contingent and configurationalRead MoreCultural Diversity in Nursing Care: An Analysis1458 Words   |  6 Pagesï » ¿Cultural Diversity in Nursing Care An Analysis The United States is a country comprised of dozens of different cultures. The definition of this nation has, at its basis, a strong element of diversity. From its incipience as a country, the U.S. has thus promoted, above all, acceptance of all cultures, and has taken unique elements from these cultures and placed them towards building a varied, strong, and accepting society. Today, the nursing field is one of the few that must be aware of differencesRead MoreThe Importance of Diverse and Democratic Schooling Essay881 Words   |  4 Pagesand democratic society, as well as how I as an educator plan to integrate and promote democracy and diversity in my teaching practices. In order to promote diversity and democracy it is important to first define these terms. Diversity is that which is inherent in all humans. It is composed of the major and minor, physical and intangible differences that make us all individuals. It is a concept which invades every aspect of life: it is seen on the global scale in the differences between variousRead MoreThe Impact Of Contemporary Uk On New Zealand Essay1728 Words   |  7 Pagesthat have become available. Due to this phenomenon, businesses have required to become more creative and embrace change as an essential method of staying competitive in their marketplace. The increase in ethnic group migration to New Zealand and the concept of managing this diverse range of culture and interacting with individuals with different cultures, belief systems is a current issue that impacts contemporary organisations in New Zealand. According to Sayers (2012), countries throughout historyRead MoreHuman Resource Management : The Effe ctive Methodology Of Managing Human Capital956 Words   |  4 Pagesthe advancement of the United States economy, organizations need restructure the way its Human Resource administrate. In addition, the two topics utilize the human resource process which filter potential candidates that meet the prerequisites job analysis. If business entities are more involve within the branding process the organization will benefit as a whole. The purpose of the first literature review is to illustrate the importance of face-to-face strategies back into organizations policies whichRead MoreBenefits And Risks Of Diversity1232 Words   |  5 Pagesrisks of diversity in the workplace. Organisational psychologists consider that the perception of this concept has changed. Companies used to associate diversity with differences in terms of demographic aspects such as age, race, gender, sexual orientation or disabilities (Mor Barak 2011). However, this concept has changed with time. Currently, personality traits, cognitive and behavioural aspects are also taken into account when managing diversity (Thomas, 2006). Furthermore, the Diversity MattersRead MoreThe Diversity Of Business Ethics907 Words   |  4 PagesDiversity in Business Ethics Today businesses are faced with challenges, one in particular is diversification. Diversification according to John Jefferson and his associates (2009) is a form of growth, and the marketing strategy of a company, which seeks to increase profitability through greater sales volume obtained from new products and new markets. Interesting Jefferson (2009) also, states, diversification can occur either at the business unit or corporate level. Which bring s me to my point onRead MoreDiversity For Success Of The Company1036 Words   |  5 Pagesit successfully handles diversity in the workforce. The author argues that in the current workforce, which is diverse, the challenge is exclusion. The book has compiled extensive current information on social policy trends, legislative and demographic, as well as the analysis of causes and effects of workforce exclusion, and reveals that learning about how to manage the issue of diversity is critical. Therefore, based on the extensive information of fered touching on diversity in the workplace, I will

Reasons for Returning to School Free Essays

Reasons for Returning to School Dolores Hutt ENG 121 Instructor Vanessa Martin January 15, 2012 Reasons for Returning to School After careful thought and consideration, I made the desire to return to school into a realistic goal. I had finally come to the conclusion, that it was time to take control of my circumstances, rather than continue to let my circumstances control me. For the first time in twenty years, I have a window of opportunity to fit a degree program into my daily schedule. We will write a custom essay sample on Reasons for Returning to School or any similar topic only for you Order Now Returning to school had always been a desire of mine, but in the past, I did not think I had the time or the money to pursue a degree. I was a single mother, I was working all of the time, my children were very young, and half of my wages went to daycare expenses. Seven years ago I made a decision to pursue a career in Massage Therapy. When the opportunity presented itself to enroll in an accelerated Diploma and State licensing program for Massage Therapy, that was only going to take one year, I jumped on it. Looking back, I realized how fast a year can go by and how easy it was for me to turn a desire into a concrete accomplishment. Having a career in Massage Therapy for the past six years has been a rewarding experience; it has given me that sense of contribution to society and to my community. I have taken much pride in accomplishing my career goals so far, however, through my experiences with working for corporations, businesses, and having my own business, I realize that I am still missing that important element: a business degree. Having gone through that year in school to get my career going, the experience gave me the confidence to overcome the thinking, that I did not have the time or money to pursue a degree, I now believe that the benefits of a degree will far outweigh any outcome of not having it. The benefits of having a business degree to enhance my career are; that a degree will add credibility to my desire to take my career to the next level, and it will open more doors and options concerning high level job positions. I can talk about experience all I want, but at the end of the day, when it comes to running a business, or getting an executive to listen o my ideas, that will help the industry flow more efficiently, I believe that having a degree will help me to be taken more serious. It will also help me take a break from the labor to pursue the creative and business end of things. I am hoping that this degree program will help me to develop the skills I need to keep a successful business running, an d give me the credibility I seek. My first step after obtaining my business degree will be to get a management position in a corporate setting, so I can get the experience I need to have my own company and employees. I believe that a Degree in Organizational Management will help me to accomplish that goal. Experience, though valuable and relevant, is no substitute for a short cut. I have realized that regardless of experience, if I want to be taken serious, having a degree will open doors and add more opportunity and credibility to any experience. So pursuing a degree at this point in my life has become a priority. Returning to school had always been a desire of mine, but in the past, I did not think I had the time or the money to pursue a degree. Any obstacles I had in the past are no longer there. I have an excellent support system at home, a loving and supportive fiancee of six years, a two income household, my career allows me to work part time and make the same amount of money as I did working full time in the past, so I get to spend more time at home, and my children are much older now so daycare expenses are a thing of the past. This online university program offers so much flexibility and affordability, that I really have no excuse to not execute this with full force. For me, the timing is perfect; the time it will take to complete this degree program is short when I compare it to time wasted by not having a degree. I have done this before and I know I can do it again. I keep my goals and plans right in front of me. I know that with perseverance, planning ahead, and just staying positive, that pursuing my degree will be another accomplishment that I can be proud of, and then I can keep moving forward in my life with confidence and ease. I am no longer at the mercy of my circumstances, I have taken control back, and returning to school is exactly where I need to be right now. How to cite Reasons for Returning to School, Papers

Development in Moroccan Economy free essay sample

Economic Environment Development of the Moroccan Economy The Moroccan economy is known for its macroeconomic stability. Inflation rates have always been relatively low, mainly due to the country’s restrictive currency regime. Morocco has been characterised by moderate to high growth rates. The country has benefited from its low labour cost and strategic location near the European mainland. Morocco has experienced a stronger growth than usual since the year 2000, caused by improved weather conditions, a strong export growth and various liberalizing policies. These liberalizing policies have been introduced by King Mohammed VI in 2003. He came up with a number of economic reforms resulting in a growth of the small modern manufacturing sector and the development of the tourism industry. He has put his main focus on the European Union since the Free Trade Agreement in the year 2000. Morocco’s Gross Domestic Product (GDP) has steadily gone up since 2002. According to statistics of â€Å"Datamonitor 360† the GDP in 2002 was about 40 billion dollar, in 2010 the GDP had grown to approximately 60 billion dollar. That is a rise of 50% in only eight years time. The World Factbook from the CIA mentions that in 2010 Morocco ranked number 58 in the world when it comes to the GDP. The real GDP growth rate has not been negative since 2002. In 2010 Morocco ranked number 77 in the world of real GDP growth. The lowest growth rate was about 2,5% in 2005 and 2007 and peeked with 7,5% in 2006. This could have possibly been caused by the Free Trade Agreement with the United States of America, which was introduced in 2006. I will further explain the results of the Free Trade Agreement with the EU and the USA later on in this chapter. The three main sectors: industry, service and agriculture, all grew steadily the past ten years. In 2009 the service sector was the biggest sector and contributed 49,4% to the GDP, the industry sector came second with 31,3% followed by the agriculture with 19,2%. Morocco has a profitable industry sector, mainly because of its large amounts of phosphate. Tourism plays a big role in the service sector. The tourism industry has remained vibrant despite the Casablanca bombings in 2003 and 2007. Morocco’s external trade has also been increasing steadily, with only a slight decrease in 2009. However, the total external trade still grew from 25,7 billion dollars in 2002 to 77,6 billion dollars in 2009. This is a growth of 51,9 billion dollars, which is a growth percentage of approximately 202%. Even though Morocco’s economy has been doing well the past decade, the unemployment rate is still relatively high. During the period from 2002 to 2008 the unemployment rate was at least 11%. In 2007 a small decrease of unemployment of 300 thousand took place, still leaving 1,1 million people unemployed. By the end of 2008 the unemployment rate was 9,6%. In 2009 a total of 93,000 new jobs got created resulting in a decrease to 9,1% by the end of 2009. We can conclude that the overall Moroccan economy has shown a fairly good development, but there is still a lot more to improve. The government has been working on new reforms that should lead to better business conditions in the country. International Financial Crisis Morocco together with Algeria and Tunisia has been one of the least affected countries by the international financial crisis. The international financial crisis started with the credit crunch in the US. Morocco has not been affected by this so-called credit crunch, because Morocco does not have the kind of credit that caused the American credit crunch. Besides this Morocco had minimal exposure to foreign assets. Morocco did however get affected by the international financial crisis as soon as it hit Europe. The Western European crisis resulted in diminishing growth rates. The crisis in Europe did not only slow down Moroccan export rates, but also the tourism industry. As European unemployment rates increased, many Moroccans working abroad lost their jobs, causing a decline in remittances. Morocco has been able to keep the negative effects of the international financial crisis to a minimum due to its good macroeconomic policy, an open economy, clear trade policies and several investment opportunities with emerging countries in Asia, Latin America and Africa. Because of the effects the financial crisis has had in Europe and the US, Gulf investors are expected to invest in African countries and the Middle East. At the end of 2008 Gulf investors announced a 1,7 billion US dollar investment in real estate in Morocco. These investments and planned reforms will make sure the Moroccan economy will continue to grow in the future. Effects FTA US and EU Morocco’s economy has largely benefited from the free trade agreements it has made with the European Union and the United States. In 1996 Morocco signed an association agreement with the European Union. The association became effective on March 1, 2000. The free trade agreement with the EU is mainly applied on industrial products and hardly any agricultural products. The objective is to have completely free trade between Morocco and the EU by 2012. In 2010 the EU proposed a new trade deal with Morocco to include duty-free trade in agricultural, food and fisheries products. On June 15, 2004 Morocco also signed a free trade agreement with the USA, which became effective on January 1, 2006. For America this was the second Arab-US free trade agreement and the first African-US free trade agreement. During a video of the ‘Moroccan American Trade and Investment Council’ the counsellor to King Mohammed VI for financial and economic affairs says about the FTA with the US: â€Å"We want to put Morocco as a platform for business with Europe, with the US, with Asia, China, Africa, Middle East. It was part of a global vision of Morocco. † Mr. Hassan, the president of the Moroccan Business Association says during the same video â€Å"The Morocco – US free trade agreement is a great opportunity for the Moroccan economy. † Due to the free trade agreements many American and European businesses have opened establishments in Morocco. These businesses have employed thousands of Moroccans causing a decline in the unemployment rate of the country. Both free trade agreements have been a huge step in the right direction for Morocco. The country still has a lot of poverty and unemployment; much more is needed to solve the country’s issues. However, the country is one of the most stable African and Arab nations. Current Economic System Morocco has a relatively liberal market economy regulated by supply and demand. From 1993 onwards there has been a policy of privatization. The heritage foundation, a research and educational institution, has come up with an index of economic freedom. This index makes it possible to measure the economic freedom in countries around the world. The world average score on the index of 2011 is 59. 7 out of 100 points. Morocco’s overall score is 59. 6, only a tenth point under the world average. Morocco is the 93rd country on the 2011 world rank of economic freedom. The regional average of the Middle East and North Africa is 60. 6, which makes Morocco the 10th country on the list of 17 regional countries. The overall score is determined by ten economic freedoms. In figure below the ranking of all ten separate economic freedoms of Morocco compared to the world average is shown. The most important economic freedom for this specific country report is business freedom. The business freedom represents the procedures for setting up and registering a private enterprise and the possibilities of private investment and production. In figure you can clearly see the Moroccan business freedom compared to the Dutch business freedom. King Mohammed VI has come up with many economic and non-economic reforms over the years. The two largest current reforms are the â€Å"Plan Maroc Vert† (Green Plan) and the â€Å"Plan Emergence†.