Global Finance Environment Essay Example | Topics and Well Written Essays - 1250 words

Global Finance Environment - Essay Example Other than trade, globalization has affected the social realm through change in social relations and customs change in consumption patterns and lifestyles, and through important domain values like religion. Additionally, globalisation has affected the political ream through the widespread of multiparty democracies, pluralism, free elections, human rights, parliamentary systems, and independent judiciaries. This paper will focus on the global finance environment addressing some main drivers of globalisation, risks associated with globalisation, and the importance of cultural sensitivity to global finance issues. OECD statistics reveal an increasing trend in global trade patterns. Driving Forces of Globalisation The first main driver to globalisation is advancement in technology in the fields of ICT and transportation, which has reduced the costs of trade. Internet enables global interconnectivity where people can interact and pass information regardless of the physical proximity. With the interconnectivity, firms who have reached their full-scale production in their home country prefer to cross borders and secure other smaller companies. They do this through amalgamations, joint ventures, or partnerships. Internet has lowered the cost of transmitting and communicating information empowering multinationals. For instance, a company can have one CEO abroad who oversees all the operations of a company through the internet. Additionally, multinationals management team can use teleconferencing to communicate and hold meetings where each of them is contributing. With better technology, the cost of shipping has come down due to containerisation and bulk shipping. In addition, competition between airlines has lowered the costs of travelling abroad on business. Secondly, multilateral trade liberalisation has boosted globalisation. Globalisation involves creation of linkages between nations. One means of achieving interconnectedness is through reducing pre-existing barrier s to trade through liberalisation. Countries trading with each other have collaborated and reduced trade barriers between them increasing their potential to grow. Statistics reveal that over the last decade average tariffs has gone down from 30% to 10% in developing countries and from over 9% to 4% in developed countries. Successful economic reforms on the emerging markets have fostered globalisation. For instance, India’s economy was in a bad state in the early nineties and the country was almost defaulting in payment of its loans. Economic reforms like working in favour of a more open market and market-oriented economy has enabled the country to pick. Liberalisation was another move that enabled India to venture its products in the international market. In fact, India scrapped off the industrial licensing regime, reduced the number of areas reserved for the public sector, and reduced in tariffs and rates (Rodolphe, 2010). Lastly, migration is a main driver to globalisation. Often, people migrate in search of greener pastures or because of political instability in their country. Widening inequalities has increased pressure on the citizens to move. Statistics reveal that in America alone over 38 million of its population consists of persons born abroad. At least one person in 10 living in developed

Admission Paper in Finance Essay Example for Free

Admission Paper in Finance Essay Every person has his/her story and so do I. I’m writing this statement of purpose to solicit an admission into the prestigious Finance Phd Program. Many people endeavor into PhD to do high-level research and teach but my primary reason for entering is to be my own boss. Not to sound conceited, I have earlier worked in 7/11 from 6 am to 12 pm for many years and under unmanageable coworkers to support my living and schooling expenses as I come from a very humble background. I understand that being one’s own boss or in more euphemistic terms an independent researcher does not come easy, one has to first go through many years of rigors and challenges of academic world. My Masters in Quantitative finance have built the foundation or framework to withstand any challenge that academia will put forth in the near future. Courses that I have taken in my masters include Mathematical finance, real option analysis, Microeconomic theory, Financial Derivatives, Statistics, Econometrics 1, Econometrics 2, Financial modeling, Financial application, and so forth. See more: Homeless satire essay I took few research and quantitative classes because I know they will inadvertently prepare me for PhD . The reason I chose Quantitative Marketing is because the statistics, economics and mathematics that’s involved in it mesmerizes me. In this country the advertisers have known from the beginning that â€Å" The heart rules over the head.† So by allowing the mass majority of people with easy personal and mortgage loans, they have jeopardized the economy. What I would like to research is if this was a zero-sum game or not, and if yes, then who benefitted from it? Because of securitization, the bank did not seem to make any money, and neither the homeowners that lost their home. If banks knew people were going to default, then why did they still offer loans? This whole thing is like a mathematical paradox that is yet to be solved. Marketing is what separates the product from its competitors. In my research I’d like to learn how adverstisers use athletes to add val ue to the product. Nike’s whole business model was based on Marketing. Top sportsman like Tiger Woods, Roger Federer, Kobe Bryant and so on are paid several millions by Nike. Many people perceive that by wearing the same brand as their idol does, he/she could improve their game. But what about â€Å"the Rolex† watch that Roger Federer advertises? How can a watch improve anyones tennis game? Maybe , the ad implies that only â€Å"Winners† or so called â€Å" achievers† can wear it? People looking to lose weight may take up a sport and watch their favorite athlete drink â€Å"Gatorade† to rehydrate or replenish their energy, but fail to realize that the 46 grams of sugar in Gatorade itself is the primary reason that’s defeating their weight loss goal. Ab rockets, Ab lounges are advertised by professional trainers who have spent their life doing sports. It is impossible for a 9 to 5 working person to achieve the same results, yet countless people fall prey to thes e infomercials. It is definitely fascinating to learn more about the profound effect that Marketing has on us. Neverthless, schemes like â€Å" buy one get one 50% off, zero percent down payment for 12 months, buy now pay later† are a sure sell. What begs the question is whether the scheme is benefitting the consumer or the economy. After research the second most important thing for a phd is to teach. Even though I do not have formal teaching experience I have been teaching GRE to students from all walks of life. I definitely do not have a stellar GPA nor a GRE but I do my job well when needed. The fact that I love people makes my job of teaching extremely simple. I can wake up middle of the night and walk an extra mile to give a talk on a topic that inspires me. Having taken immeasurable courses at community colleges and universities, I’ve become very fond of academia. I now dote reading, learning, relearning, and writing. Of course, my past high school and university grades donâ€⠄¢t walk the talk but the fact is I have overcome all of that with my independent learning. A majority of my high-school teachers and family members doubted if I’d ever finish high-school. Not only did I finish high school , I now also have two advanced United States degrees. Much of these didn’t come easy for me. Every parents teacher meeting and every result day from grade 3 to grade 12 was like a doomsday for me. I used to literally pray that we never had a result day or a parents teacher meeting. My dad physically whopped me and my brother together till he injured us for passing our classes with a B or a C grade. It still gives me nightmare just thinking about it. He beat us because he compared us to his wealthier colleagues or brothers kids who were excelling in school while we weren’t. He never realized that each kid is unique and has different talent. Perhaps, his lack of education or short-temperedness made him violent or even so because he could not flaunt to others that his kids have the highest grade . Believe me this is what parents in South Asia are discussing at parties or family gatherings, â€Å"whose kids are getting the best grades.†. Nevertheless, at first it was a big challenge to just learn English, but as time passed, my innate ability taught me reading, writing, and speaking. In fact, English has now become my primary language. Also during undergrad I have written myriad papers and thus writing has become a fact of my life. The writing skills I have acquired during a long period of my stay in the academic world will unarguably be useful during my PhD. If not, at least I like to think so. I choose Lubbock because it’s a small college town and the professor who mentored me during my masters has his PhD in finance from Texas Tech . He in fact referred me to this school. Nevertheless, a small quite town would also enhance a person’s learning since he/she will be free from all distractions. While writing this essay I hold an undergraduate sociology 101 t ext book. According to the book, being a university professor is considered one of the most prestigious occupation in the United States, ranking way ahead than an athlete, Dentist, programmer, Actor, and so forth. The author took the abstract from, â€Å"General Social Survery, 1972-2002. Cumumlative codebook (Chicago national opinion research center.† ) Such findings did stir my up my mind to pursue PHD. I really saw this in my text six years ago as a young teenager . This explains I truly have the passion to be a professor from a long time. The excellent faculty at Texas Tech with their wide variety of research interests , and student placements will definitely make my ambition of becoming a university professor come true. What I like about research is it removes the bias from the illimitable information we have today. Integrating information from google, scholarly journals, publications, magazines, foreign newspapers, and so forth and coming up with my own analysis is something I loo k forward to do. Another thing that I like about research is it’s about finding patterns and relationships that are not obvious to others. My poor undergraduate GPA could be attributed to the fact that I was part of Texas Wesleyan Table Tennis Team. We have won 4 national collegiate championship, having me represented TWU as a varsity player in all four of them. Apart from playing NCTTA tournaments we were obligated to play open tournaments all over America. I did get a chance to play and win several open tournaments in different cities across the US. For winning the national collegiate championship, the United States House of Representative personally awarded me a certificate of excellence. I’ve enclosed a copy of that certificate along with this essay. Nevertheless, team practice and tournaments took up a lot of time and energy; once tired, college and books were the last thing in my mind. Somehow, I still managed to complete my undergrad degree keeping in mind the famous American say ing , â€Å" It doesn’t matter how many times you fail, but it does matter how you finish.† Nevertheless, I realized I have criticized my dad earlier in the essay but this piece of work that I have penned down today could not have been possible without his support. Moreover, I could never make him happy with my low grades, but I always saw him rejoicing each time I won a tournament. Table tennis taught me invaluable lessons in life. When I lost a tournament or an important match I used to feel devastated, but it then made me realize that it’s not the end of the world. By accepting defeat, I learned that I have to train harder and come off strong for the next tournament. Similarly, in business and research only after failing several times did great thinkers emerge. Lastly, I thank the dean, chairman, and admission committee members for taking out their valuable time to read this essay and also for considering my application.

The Scarlet Ibis by James Hurst Essay -- James Hurst Scarlet Ibis

The Scarlet Ibis by James Hurst Foreshadowing, symbolism, and image are all elements which compose style.   All are very important; foreshadowing adds suspense, and symbolism contributes to interpretation.   Image contributes "visual aids" which, also, aid interpretation.   In this classic short story, "The Scarlet Ibis," by James Hurst, foreshadowing, symbolism, and image combine to create a true literary masterpiece. Foreshadowing is one of the elements of style which make "The Scarlet Ibis" great.   For example, the author states, "The last graveyard flowers were blooming, and their smell drifted [through] our house, speaking softly the names of our dead."   This passage clearly foreshadows the death of Doodle.   Also, Hurst comments on Doodle's full name, "William Armstrong," that "such a name sounds good only on a tombstone," again foreshadowing Doodle's death.   Later, Doodle's cries of "Don't leave me!   Don't leave me!" are a parallel to the moment when the terrified little boy once again cries out, "Don't leave me!" when his older brother does actually leave him.   Moreover, Aunt Nicey says... ...n image of desolate grief that the lone brother feels for his lifeless sibling.   Image is truly the most important element in the style of this story. In "The Scarlet Ibis," foreshadowing, symbolism, and image are demonstrated to their full potential.   The frequent foreshadowing hints darkly at Doodle's death, and the unmistakable symbol of the scarlet ibis for Doodle heightens the effect of the image created when the brother huddles over his "fallen scarlet ibis."   Foreshadowing, symbolism, and image really contribute to this story's unique style.

Common sense in ‘The Crucible’ Essay

The Crucible – How does Miller make vivid the triumph of superstition over reason and common sense?  In ‘The Crucible’, Miller creates an atmosphere in Salem where hysteria rules the village while reason and common sense are put aside. The superstitions of a few young teenage girls are taken seriously by the largely Christian village; to the point of a broken theocracy and where all reason is lost. In Act III, there are many dramatic scenes in the courtroom which show the power of the girls’ overbearing superstitions. At the beginning of the play, Mary Warren joined in with the other girls in the forest with their hysteria and witchcraft. However, she converts to Proctor’s side and in court says â€Å"It were pretence, sir† to Danforth. She tries to save Proctor by turning in the girls and admitting that Abigail had been telling lies. This comes to no avail and then Abigail, with the other girls, puts on an act and starts copying Mary Warren as if Mary had bewitched her. Mary gives in and turns on Proctor saying â€Å"You’re the Devil’s Man!† Mary tried to have reason and common sense by defying the girls but the way she gave in to their act of hysteria shows how superstition triumphs over reason and common sense. As mentioned previously, Mary Warren initially testifies against Abigail and the other girls in Act III. To this point, Danforth was fully behind Abigail and believed her but now questions her to tell the truth. Abigail forcefully confronts him and says angrily, â€Å"I have been hurt, Mr Danforth†¦To be mistrusted, denied, questioned like a -â€Å". Miller describes Danforth’s retorts as ‘weakening’ in the stage directions and Abigail presses on to further threaten Danforth in the words â€Å"Let you beware, Mr Danforth†¦Ã¢â‚¬ . With most other people in the play, Danforth simply dismisses their stories but he is incapable of a rational argument against Abigail. Danforth is meant to be a man of reason and common sense; he is a judge after all but Abigail’s manipulation of him causes him to lose all reason and he lets her continue to wreck havoc. Abigail is the source of all the superstitions in ‘The Crucible’ so her control over Danforth signifies the triumph of superstition over good reason and common sense. Throughout the play, John Proctor is a respectful man; the only one with a sense of reason and not fooled by the witchcraft hysteria. In Act IV, Proctor chooses to die instead of giving away his good name to witchcraft. After choosing to die he says â€Å"†¦I see some goodness in John Proctor.† If he had confessed, he would have lost his common sense and given in to false superstitions. In this way, Proctor not only keeps his name but doesn’t let superstitions get the better of him; one of the few parts of the play where reason and common sense prevail.  Salem is a community filled with hardworking people who have good reason and sense about them. A few lies and superstitions cause all their lives to crumble down and good values vanish. The one man not fooled by the witchcraft nonsense, John Proctor, keeps common sense alive in Salem but is hanged to die; leaving the village ruled by superstition.

Marx Theory of Alienation

ive, rich people use the poor as commodities. He also explained that the profit that owners earn is not justly distributed to the nation as a whole. Marx’s Estranged Labor and Private Property and Communism explain the alienation of the laborer caused by private property and how it will bring the downfall of capitalism. Marx believed in communism which is a perfect life for all the individuals.In ancient times, people would live in caves and depended on nature to survive and fulfill their everyday needs. However, with time world modernized, people moved on and money became the main aspect of everyone’s life. In order to stay in power, money is very important. People give more value to money than themselves because money is what makes a person’s value. Money can buy happiness even though people spend most of their lives working for others.People’s need changed overtime, they found happiness in new things as the world modernized, unlike before their needs we re satisfied by nature. In Marx’s work he briefly pointed out what a man should really be by differentiating between animals and human beings. What makes human beings different from animals is that animals can’t think like humans as Marx said, for it â€Å"produces only what it immediately needs for itself and its young† (Estranged Labor, pg. 275).Unlike animals, humans have conscious and ability to produce many things by themselves as Marx explained, â€Å"he makes his life activity itself the object of his will and of his consciousness† (Estranged Labor, pg. 276). Humans are creative. Therefore, human life has a purpose for man and in this intellect he is free and universal. Marx argued that human nature is nor good nor evil but dialectical because humans external objects which were plant, animal and air became into food, clothes and heating.Marx illustrated that alienated man is the opposite of the productive man because a man's soul is to produce and create. Therefore, an alienated man is the man whose soul and existence are split, which describes that he works not for producing but for money and others. Money is a very important aspect in both the worker and the capitalist’s life. According to Marx, the real foundation of alienation is private property. The affiliation between the worker and the capitalist is defined in the capitalist society. A worker has not