Compare and contrast the financial systems of two different countries. Use an institutional approach to describe the system. Comment on the impact on, and response to the GFC in each country Essay Example for Free

Compare and contrast the financial systems of two different countries. Use an institutional approach to describe the system. Comment on the impact on, and response to the GFC in each country Essay 1.0 Introduction A financial system inquires for efficient allocation of resources among the surplus and deficit units (Viney 2009) as such it encourages more savings where funds are provided for investor to invest and also ease the transactions for goods and services (Viney 2009). There are three main components in the financial systems which are the financial institutions, financial instruments and financial markets. All three types of financial system each carry different function, roles and regulations. However, financial institutions will be mainly focus in this research essay. Global Financial Crisis (GFC), also known as the ‘great recession’ occurs in the year of approximately 2007-08. GFC has caused a several impact on the economy which leads to a several collapse of the financial institutions. For instance, the collapse of Lehman Brothers, one of the major investment banks in US (Australia Bureau of Statistics 2010). Thus, the objective of this essay is to examine both financial system of the chosen countries which are United States and Australia, also the impacts and responses on the GFC in both of the chosen countries. 2.0 Compare and Contrast both Financial Systems 2.1 Central Bank The central bank of the United States (U.S.) is known as Federal Reserve System (FED) whereas the central bank of Australia is known as the Reserve Bank of Australia (RBA). The Federal Reserve System’s structure consist of the Board of Governors which are duly appointed by the president, the Federal Open Market Committee (FOMC), and 12 regional Federal Reserve Banks located throughout the major states in the country (The Federal Reserve Board 2003). Banking in U.S. is regulated at both federal and state level. Unlike U.S., Australia has only one central bank which is the Reserve Bank of Australia. However, both central banks are independent within their government (Reserve Bank of Australia 2001) whereby for FED, the monetary policies decisions do not have to go through the President’s authorization, and for RBA, they have statutory authority established by an act of parliament which grants them  specific powers and obligations to carry out necessary policies (Reserve Bank of Australia 2001). On the other hand, RBA has two board, which are the reserve bank board and payment systems board (Reserve Bank of Australia 2001). The reserve bank board is responsible for monetary and banking policy whereas the payment systems board is responsible for controlling risk in the financial system, promoting the efficiency of the payments system, and promoting competition in the market for payment services, consistent with the overall stability of the financial system (Reserve Bank of Australia 2001). The role of FED is to conduct the country’s monetary policy, which includes full employment, stable prices and moderate long term interest rates as stated in the Federal Reserve Act (Board of Governors of the Federal Reserve System 2008). Furthermore, they maintain the stability of the financial system, supervise and regulate banking institutions, provide financial services to depository institutions, and foreign official institutions. FOMC will determine the cost and availability of money and credit in the country’s economy by affecting the discount rate, reserve requirements and controlling the open market operations (Board of Governors of the Federal Reserve System 2012). Likewise, the role of RBA is to conduct monetary policy as well, which includes the maintenance of price stability, full employment and the economic prosperity and welfare of the Australian citizens (Reserve Bank of Australia 2001). Besides that, they also set the cash rate to meet a medium term inflation target (Reserve Bank of Australia 2001). Moreover, RBA must maintain a strong financial system and efficient payments system and the issuing of the nation’s bank notes. Selected banking services are provided to the Australian government, agencies, official institutions, and a number of overseas central banks (Reserve Bank of Australia 2001). 2.2 Commercial Bank Commercial banks in the U.S. are quite similar to those of Australia whereby their main role is to act as a financial intermediary by channeling funds from agents who deposit money and lenders who needs fund and wants to borrow. These agents and lenders include households, businesses, governments and foreigners. Australia offer products and services which include balance sheet transactions and off-balance-sheet transactions (Viney 2009). For balance sheet transaction, the first purpose is to loan activity to match the available amount of deposits that they received from customers. This activity is known as assets management (Viney 2009). The second purpose is to manage their sources of funds in order to ensure that they have sufficient amount of funds available to meet the loan demand or any other form of commitments. This activity is known as liabilities management (Viney 2009). For off-balance-sheet transactions, it includes a substantial volume of business that is not recorded either an asset or liability on their balance sheet. In comparison, U.S. obtains their funds (liabilities) by issuing deposits, checking deposits, time deposits, saving deposits (Samolyk 2004). For their use of funds (assets), it includes making commercial, consumer, and mortgage loans, and by buying U.S. government and municipal bonds (Samolyk 2004). Therefore, commercial banks play an important role in funding business borrowers. The percentage of non-financial business borrowing that commercial banks fund on their balance sheets has not declined remarkably in the past five decades or so. The commercial banks in U.S. provide trade financing, foreign exchange, corporate finances and miscellaneous banking services which include currency specified credit cards, corporate checking accounts and lock boxes (Ireland n.d.). Moreover, the existence of commercial banks made reliable transfer of funds between different countries all over the world possible. Furthermore, the distribution of valuable economic and business information among clients around the world is made possible as well (Samolyk 2004). Similarly, there are basically two functions of a commercial bank in Australia. The primary functions are obviously to accept deposits from individuals, and grant loans and advances for personal or corporate purposes. The secondary functions consists of collecting and supplying business information, providing reports on the credit worthiness of customers, standing guarantee on behalf of its customers for making payments for the purchase of goods, vehicles, machinery, and so on. Besides that, they also provide customers with foreign exchange facilities; and they also provide safe deposits vaults or lockers for valuables, important documents and securities. In a nutshell, for both countries, there are several similarities in the roles of commercial banks. Commercial banks promote capital formation whereby they accept deposits from individuals and businesses, whereby these deposits are then made available to the businesses which will make use of them for industrious purposes in the country (Ireland n.d.). Moreover, they also provide short and medium term loans for entrepreneurs to invest in new enterprises or businesses. Furthermore, they also promote trade and industry since they offer the use of bank draft, bill of exchange, check, credit cards and letters of credit. In one way or another, they also influence the level of economic activity by influencing the rate of interest and the availability of credit in the market. Most importantly, they implement the monetary policy proposed by FED or RBA to bring about price stability, full employment and promote economic growth within the country. There are several sources of funds for these commercial banks. The main source would of course be from the current account deposits. However, they do have other sources as well such as demand deposits, term deposits, negotiable certificates of deposits, bills acceptance liabilities, foreign currency liabilities, loan capital and shareholders’ equity. 2.3 Non-bank Financial Institutions 2.3.1 Depository Financial Institution Depository institutions (DPI) act as a financial intermediary similar to a commercial bank, whereby its main task is to accept deposits from surplus units and then issue loans to the deficit units in the financial system (Viney 2009). The main regulator for Australia is Australia Prudential Regulation Authority (APRA) whereas for U.S. is the Federal Deposit Insurance Corporation (FDIC). As for U.S., there are about 9, 000 functional depository financial institutions in the U.S. They operate through 92, 000 branch offices located in different states (Finance Maps of World 2011). Their role is to set a benchmark for DPI in the ground of  commercial banking. The funds that are collected is used to meet the credit need of others (Finance Maps of World 2011). On the other hand, Australia’s DPI consists of three main institutions which are banks, building societies and credit unions (Reserve Bank of Australia 2001). There are a total of 171 institutions of which 55 are banks, 11 are building societies and 105 are credit unions (Reserve Bank of Australia 2001). 2.3.2 Investment banks and Merchant banks Investment banks and merchant banks primary objective is to collect funds and invest them in the market to achieve specific goals set for different types of investments (Viney 2009). There are generally two types of investment companies which are open-end or closed-end mutual funds. Open-end funds will accept new investment and trade in old ones, whereas for closed-end funds they only accept funds once and then do not take in any additional new funds. Investment companies have recently become more popular among U.S. and Australia, and have managed trillions of dollars. As for U.S. investment banks specialize in facilitating financial transactions rather than just providing finance. They have a good reputation as a financial innovator since their responsibilities includes the improvement of new financial products and services which must meet the ever changing needs of clients (Kumar, Chuppe Perttunen 1997). In contrast, investment banks and merchant banks in Australia are not considered an authorized bank but often referred to as money market corporations (Viney 2009). They do not have a depositor base to include in their assets. Therefore, they raise funds through the issues of securities from the international money and capital markets (Viney 2009). 2.3.3 Contractual savings institutions Contractual saving institutions offer contract that specify, in return for periodic payments to the institutions, and the institutions will make payments to the contract holders if any specified event occurs (Viney 2009). They include general insurance companies and superannuation funds. As for U.S., their insurance companies raise money mainly from the issuance of insurance policies and collecting annual premiums. Some might also borrow from the dept capital markets as an alternative source of funds. For superannuation funds, or more popularly known as pension funds in the U.S., they are funded by the deductions from employees’ monthly salary in addition with certain contribution by the employers (Cohen Schubert 2010). On the contrary, Australia have make it compulsory for their employees to contribute to the superannuation system (Cohen Schubert 2010) whereby for U.S., an estimated 78 million working Americans which include the sole traders, employees who work for small employers or even part timers, do not have access to a retirement fund (Cohen Schubert 2010). For U.S., it has firstly introduced as a beneficial payment of employment whereas for Australia, it was created as a comprehensive system from the start (McLennan 2000). 2.3.4 Finance companies Finance companies and general financiers are basically institutions who provide loans and charter finance to clients by borrowing funds directly from the financial market (Viney 2009). As for U.S., these institutions raise funds in the debt market by issuing securities. Therefore, they raise funds solely by issuing debt or borrowing from other institutions but not taking deposits directly (Samolyk 2004). Similarly for Australia, they raise funds by issuing commercial paper, bonds and medium-term notes (Reserve Bank of Australia 2001). 2.3.5 Unit trusts Unit trusts is formed under a trust deed, and is controlled and managed by trustee by selling units to the public as a means to raise funds whereby investors purchase units in the trust (Viney 2009). As for U.S., there are generally two types of unit trusts, one that falls under private management and another that falls under direct state authority. Their role mainly involves traditional banking activities that are related to issuance of loans and deposits. The major difference between private and state authority trust is state authority institutions obtain funds from deposits and through the sale of shares, whereas private institutions operate as an intermediaries by generating finance through providing investment opportunities to clients (Samolyk 2004). Likewise, Australia too has two different types which are public unit trusts and cash management trusts  (Viney 2009). Public unit trusts focus more on gathering investors’ funds and investing it into specific types of assets (Viney 2009). However, for cash management trusts, they focus more on trust deed which are open to the public by confining their investment to financial securities which are accessible through the short-term money market (Viney 2009). 3.0 The impact of GFC 3.1 United States The birth of the global financial crisis begin somewhere in 2008. It all started in early 2006 when the subprime mortgage market in the United States (U.S.) began to reveal an increasing rate of mortgage defaults due to the bursting of the housing bubble (Mishkin 2011). Subsequently, in late 2006, these defaults caused a decline in the U.S. housing prices after about a decade of extremely high growth statistics. Later on, the prime mortgage markets were affected as well and were showing a higher default rates by the end of 2007. Therefore, when the mortgages backing the securities began to fall in value, the value of the securities fell as well (Nielsen 2010). Looking at the fall in price of their assets, investors quickly attempt to liquidate their assets in around late 2007. Consequently, in 2008, a major financial crisis hit U.S. which led to the most severe recession since World War II. The financial crisis in the U.S. economy eventually spread to many foreign nations, affecting the global financial system, resulting in a global financial crisis (Shah 2010). The degree of the global financial crisis was so severe that some of the world’s largest financial institutions have collapsed. U.S. was no exception. History was made when one of the largest investment banks in the world, Lehman Brothers, collapsed in September 2008. Some other institutions have been vehemently bought out by their competitors at a low price, and in some cases, the governments of the richest countries in the world had no choice but to sought an expensive bail out and rescue plan to save some of the remaining large banks and financial institutions (Shah 2010). These were all done at the expense of the US taxpayers. Approximately $9.7 trillion of US taxpayers’ money alone have been spent for bailout packages and plans (Dhameja 2010). According to Bloomberg, $14.5 trillion, or about 33%, of the  value of the world’s companies have been wiped out by the crisis. Therefore, as credit became scarce and seeing an increase in the lack of confidence in the U.S. financial institutions, international banks started to increase the interest rate for inter-bank borrowing, known as the LIBOR (Mishkin 2011). Subsequently, a crash in the US stock market was observed, liquidity drying up, and employees were being laid off which cause an increase in the unemployment line (Dhameja 2010). U.S. was in a state of limbo even after eleven months since the fall of Lehman Brothers. Banks virtually stopped lending to each other. Although several proposals for stimulus packages and some bailout plans have provided some relief, it seems that there was nothing more that could be done to ease the situation (Mishkin 2011). At the same time, smaller businesses hardly had any chances for a bail out or rescue plan and more people went into bankruptcy. Additionally, there was a decline in the US imports from its major trading partners such as the European Union, Mexico and China, due to the slowdown in economic activity (Nanto 2009). Private sectors practically stopped borrowing, trade credit was also hard to obtain, and with continuous falling demand, especially investment goods and manufacturing durables like cars, export volume decreases, foreign GDP fell as well, trade volumes eventually collapsed (Dhameja 2010). Moreover, the risk premium on inter-bank borrowing which used to be close to zero, rose steeply to five per cent. Besides, the risk premium on corporate bonds rose to over six per cent. Although the US government tried to inject liquidity into the financial markets, the damage was already done (Chambers 2010). 3.2 Australia GFC has less effect on Australia as compared to other countries such as US, UK and etc. Most developed countries had suffered recessions where Australia experienced a down turn in the economy (Stevens 2009). However, there is no government’s support required by the financial institutions in such situations like capital injections or the acquisition of distressed loan portfolios (Australia Bureau of Statistics 2010). The major impact of the GFC has resulted on the loss of confidence in the household sector (Stevens 2009). This is due of the decline in the equity price causes a reduced of the household wealth (The Parliament of the Commonwealth of Australia 2009). Thus, this leads to an effect of low consumption and investment which resulted to a decline growth of household as they felt insecure about the capacity to spend and borrow (Australian Government n.d.). GFC has also impacted on the unemployment rate which result shown an increase of number that lead to a decrease in the economic growth (Australian Workers’ Union 2009). The part-time employment has increased which balance to a loss of full time jobs where this also effect on the working hours such as the decrease hours in work (Chesters n.d.). Certain demographic groups have been affected by the job loss. For instance, the generation Y (18-24 years) has been affected (Tanton et al. 2010). However, they remain optimistic and relied heavily on the government benefit (Tanton et al. 2010). Moreover, competition in the banking system has also been affected by the GFC (Australian Super Investment Conference 2010) which resulted on harm towards the smaller banks and non-bank intermediaries as compared to the large banks where it leads to an increase in the cost of funds (The Senate 2011). Thus, this has impact on a greater gap between the major banks and other financial institutions (Australian Super Investment Conference 2010). The collapse of the Lehman Brothers, has led to a loss of confidence towards the banks which caused a decrease on the demand for credit (Australian Super Investment Conference 2010). 4.0 The response of GFC 4.1 United States GFC had seriously impacted the United States (U.S.) as compared to other countries such as Australia where it leads to the collapse of one of the major investment banks, Lehman Brothers. Thus, plans had been made by the U.S. government in response to the impact to prevent the situations to worsen. In comparison to Australia, the financial institutions do not need government intervention to assist them such as injection of capital. Unlike U.S., the government intervene where the central banks has purchased the government debt and the troubled asset which cost US$2.5 trillion in order to raise funds in the financial institutions (Halmarick 2009). This has resulted in the largest liquidity injection done by the government. They tried to inject liquidity into banks by buying share of banks, and purchase of convertible bonds of banks, whereby the government will be paid certain amount interest and the government will be given an option to convert these bonds into equity (Nanto 2009). Furthermore, FED tried to reduce the interest rates by cutting the Fed Funds target from 5.0% in September 2007 to an extremely low 0-0.25% as at December 2008. Later on, in March 2009, Fed started a â€Å"Quantitative Easing† policy by agreeing to buy a $300 billion in Treasury bonds (Halmarick 2009). The main purpose is to lower the interest rates across the yield curve and to provide additional funds to the banks. Moreover, US tried to overcome slowdown by stimulus packages of about $10 trillion for banks and guarantees to depositors, and also enhanced public spending (Dhameja 2010). According to Bloomberg, by February 2009, the total US bailout amounted to $9.7 trillion, sufficient to pay off more than 90 per cent of America’s home mortgage and was about 70 per cent of US GDP (Halmarick 2009). In addition, President Obama signed two packages which are the American Recovery and Reinvestment Act worth $787 billion and 5.5% of GDP. The main features include an estimated $285 billion in tax reduction for individuals and businesses, unemployment benefits, extra spending for food stamps, and also health care subsidies for workers that have been laid off (Halmarick 2009). These packages positively aim to generate at least three to four million job opportunities by the end of 2010. Additionally, US tried their best to prevent more banks from failing. The first case was Fed approves financing loans arrangement for J.P. Morgan  Chase to buy over Bear Sterns in March 2008. The second case was government controlled mortgage giant Freddie Mac received $146 million to ease their situation. Next, AIG borrowed $85 billion from Fed to prevent them from failing (Halmarick 2009). However, Fed couldn’t do much to save Lehman Brothers from failing and thus they went into bankruptcy in 2008. Therefore, US government aim to strengthen the global financial institution mainly to prevent losses of capital flows due to the impact of GFC to the developing and emerging economy by agreed on the increase of funds (Australian Government n.d.). Besides, government also actively plans to purchase equity from the financial institutions to ensure there is a sufficient liquidity which enable them to conduct activities such as investment, issue loan and deposit and much more. GFC has caused a fall of confidence in the financial institutions. Thus, government had decided to guarantee all senior unsecured debt and also the non-interest bearing transaction deposit account mainly to increase the confidence losses in the financial institutions (Australian Government n.d.). 4.2 Australia Australia had prepared by implementing an effective monetary and fiscal policy in response to the economy when one of the biggest investment bank in United States (US), Lehman Brothers collapsed in September 2008. This helps to avoid the economy from slowing down and lessen the impact of Global Financial Crisis (GFC) in Australia as compared to other countries such as US, where government responded on the measurement. In order to strengthen the operation of the financial system, government has increase up to $25 billion of the issue of Commonwealth Government Securities(Britton 2008), more choices of assets provided for Australian Office of Financial Management (AOFM) to invest in, together with a better lending facility of AOFM (Australian Government n.d.). In response to the recommendations of Financial Stability Forum, legislation has been introduced to establish Financial Claims Scheme (Britton 2008)  where the availability of funds is given to the depositors and general insurance policyholders when the financial institutions failed to perform (Australian Government n.d.). Besides, the bank deposits and wholesale funding is guaranteed by the government for a period of 3 years (D’Aloisio 2010). Additionally, the $10.4 billion Economic Security Strategy has been carry on as this helps to strengthen and stabilize the economy (Australian Government n.d.). This aim to provide protection to households and other financial institutions to gain back confidence lost due to GFC (Australia Bureau of Statistics 2010). Besides, First Home Owners Boost has been introduced mainly to assist the housing sector to stimulate activity which benefits the economy (Australian Government n.d.). The competition in the market of housing finance has been supported by the government through the purchase of the Residential Mortgage Backed Securities (RMBS) (Australian Government n.d.). However, a total of $840 million has been taken out by RBA from RBMS under a repurchase agreement mainly to ensure there is sufficient liquidity in the market (Britton 2008). The naked and covered of the short sale securities has been ban for a period of 30 days by the Australian Securities and Investments Commission (ASIC) (Helmes et al. 2009). However, a clarification of the allowable covered shares has been issued by the ASIC in concern of the set requirement (Britton 2008). A draft legislation for the covered of short sales has been released by the government and it is open for the public to comment on till 21 October 2008 (Britton 2008). Government initiated the plan of Nation Building and Jobs Plan which cost around $42 billion which was mainly to support the jobs in the country where it supported an estimated of 90,000 jobs (Sherry 2009). This help to decrease the unemployment rate and then boost the economic growth where it encourages more activities and also to increase consumption in the economy (Sherry 2009). 5.0 Conclusion In conclusion, the global financial crisis (GFC) had brought so much damage not only to U.S. and Australia, but to the entire nations’ financial system globally. Even some of the wealthiest nations saw the collapsed of its financial institutions while some had to undertake an extremely expensive bail-out package. As for U.S. they suffered more severely compared to Australia. This is because the Reserve Bank of Australia has taken measures in advance of the global financial crisis. Thus, they were not as heavily affected as compared to other countries. Therefore, U.S. should learn from Australia by implementing policies ahead of any unexpected crisis to minimize the impact and damage done to their financial system. Evidently, it is better for them to prevent and be prepared rather than solving an issue when the damage has already been done. The policies implemented should include healthy control of the discount rate, reserve requirement and also minimal inflation targeting such as two to three per cent. The right policy implementation will lead to full employment in the country, a healthy level of economic activity and international trades, which will eventually increase the country’s GDP to an optimal and desirable level. (4203 words) List of References Australia Bureau of Statistics 2010, The global financial crisis and its impact on Australia, Viewed 8 May 2012, . Australian Government n.d., Part 2: The Government’s Response to the Global Financial Crisis, Viewed 10 May 2012, . Australian Super Investment Conference 2010, The GFC and its impact on Australian capital markets, Viewed 12 May 2012, . Australian Workers’ Union 2009, The impact of the Global Financial Crisis on Australian Workers, Viewed 12 May 2012, . Board of Governors of the Federal Reserve System 2008, Federal Reserve Act, viewed 2 May 2012, Board of Governors of the Federal Reserve System 2012, Federal Open Market Committee, viewed 2 May 2012, http://www.federalreserve.gov/monetarypolicy/fomc.htm. Britton, H 2008, Government response to the Global Financial Crisis, Viewed 9 May 2012, . Chambers, C 2010, ‘US financial recovery: Political regulations or a plan for the future?’, Journal of Banking Regulation, vol. 11, no. 3, pp. 240-255, viewed 5 May 2012, retrieved from EBSCOhost database. Chesters, J n.d., The Global Financial Crisis in Australia, Viewed 10 May 2012, . Cohen, J Schubert, S 2010, Russell’s experience in Australia provides lessons for U.S. retirement plan sponsors, Viewed 14 May 2012, . Cook, RC 2008, Impacts of the Financial Crisis: The U.S. is becoming an Impoverished Nation, viewed 5 May 2012, . D’Aloisio, T 2010, Responding to the financial crisis: ASIC story, Viewed 8 May 2012, . Dhameja, N 2010, ‘Global Financial Crisis: Impact, Challenges Way-out’, The Indian Journal of Industrial Relations, vol. 45, no. 3, viewed 6 May 2012, retrieved from EBSCOhost database. Finance Maps of World 2011, Depository Financial Institution, Viewed 14 May 2012, . Halmarick, S 2009, ‘The Global Policy Response-The unprecedented becomes commonplace’, Colonial First State Global Asset Management, viewed 5 May 2012. Helmes, U, Henker, J Henker, T 2009, How the Australian ban on short selling during the GFC affected market quality, Viewed 11 May 2012, . Ireland, PN n.d. ‘Money, Banking, and Finacial Markets’, Department of Economics, viewed 3 May 2012, . Kumar, A, Chuppe, T Perttunen, P 1997, The Regulation of Non-Bank Financial Institutions, The International Bank for Reconstruction and Development, U.S.A. McLennan, W 2000, 2000 Year Book Australia No.82, Australia Bureau of Statistics, Australia. Mishkin, FS 2011, ‘Over the Cliff: From the Subprime to the Global Financial Crisis’, Journal of Economic Perspectives, vol. 25, no. 1, pp. 49-70, viewed 4 May 2012, retrieved from EBSCOhost database. Nanto, DK 2009, ‘The Global Financial Crisis: Analysis and Policy Implications’, Congressional Research Service, viewed 4 May 2012. 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Proposed amendment Essay Example for Free

Proposed amendment Essay Brief Presentation of Issue The 9/11 tragedy has led the US Federal Government to enact laws of national security that crosses all boarders. On October 2001, the US Congress has passed into law the US Patriot Act which formulates homeland security measures and combating burdens of the State on vulnerabilities and risks of present and future terrorist threat. The US Patriot Act of 2001 was the first enacted law that legally addresses the strong counter-terrorism measures of the US government that empowers all rules and regulations of the state’s homeland security. All US government agencies were enjoined to formulate a national and international operating guidelines relating to addressing a firmer global counter-terrorism policies and strategic sharing of burdens of information with allied international governments. The timeline of enforcement of the US Patriot Act of 2001 has accounted serious human errors in the conduct of enforcement to which the standard operating procedures constituted by the rules of court have been summarily neglected and to the point of being grossly deviated, specifically in serving search and arrest warrants that is likewise violating the 4th Amendment of the Bill of Rights. The issue of encroachment of the rules of court in issuance of search and arrest warrant has become a constitutional concern of the US Congress and the United Nation’s Commission on Human Rights (Leggiere, P. 2004). Framing of An Amendment to Search and Seizure Order The above cited issues has come the proposal to supplement the 4th Amendment of the Bill of Rights that constitutes the provision on search and seizure. The 4th Amendment may be therefore supplemented with an enabling clause as an Amendment on specific provision that states: â€Å"Constitutional liabilities in the issuance of search and seizure order. † A Brief Resolution of the Proposed Amendment The following proposed resolution formulates and creates the enabling clause of the Amendment: â€Å"Whereas, be it known that the facade of human error in the conduct of search and seizure may infringe the performance and call of duty in safeguarding the national security and protecting the lives of citizenry, and may violate the civil and constitutional rights of every citizens of the state and the immigrants;† â€Å"Whereas, be it further known that deviation and neglect in issuing search and seizure order may not constitutionally uphold the enforcement of such law and jeopardize the 4th Amendment of the Bill of Rights;† â€Å"Be it resolved, as it is hereby resolve that the proposed amendment shall state the provision of Constitutional liabilities in the issuance of search and seizure order,† that shall egally address the unauthorized and illegal search and seizure prior to the proceedings of proper and appropriate Court of laws. † Thus, the Amendment on â€Å"Constitutional liabilities in the issuance of search and seizure order† seeks to uphold the constitutional right of every state citizen and immigrants and deterrence to commission of human error of conducting authorities. Exploratory Issues to the Amendment The â€Å"constitutional liabilities in the issuance of search and seizure order† emanates an action that supplant the human error, as may be singled out in the performance and call of duty, and the flaws of government directives, authorization and function that engages constitutional liabilities in the conduct of search and seizure. Given the fact that despite the continuing violation of human rights, the human error and flaws of authorities are not given due response by the Court of law due to the absence of fundamental and legal precedents that shall interpret the violation. Likewise, the human error itself defeats 6th Amendment of the Bill of Rights wherein the fair trial composes the right of a person to be served with proper procedure prior to prosecution. To cite a relative incident, we can quote the disclosure of Phil Leggiere (2004) who stated in his investigative article, that: â€Å" the US Congress and Senate approve the Military Commissions Act, which authorizes torture and strips non-US citizen detainees (suspected of terrorist ties) of the right of habeas corpus—which includes formal charges, counsel and hearings—and also empowers the US president at his discretion to declare US citizens as enemy combatants and subject to detention without charge or due process†. The above cited disclosure further stated that, in so far as the US Court of law is concerned, the constitutional liability of the US government authority that has been directly involved is still pending for court interpretation and documentation of circumstantial facts. Obviously, the violation boils down to the presumed call of duty and in the name of national security to which the constitutional liability is impeded to surface (Leggiere 2004). Pros and Cons Pros. The primary advantage of adopting the proposed Amendment would enable a legal precedent that shall formally address the constitutional liability of the human error and the fine tuning of the US government authorities in the conduct of enforcement. The Court of law shall then recognize the pleadings of human right violations from the circumstance of complex conduct of search and seizure. The parliamentary procedure and judicial process may use the proposed Amendment as an examining tool on the extent and scope of violations wherein qualification and determination of offense shall be dealt with both civil and criminal punishment. Above all the benefits of the proposed Amendment is the articulation and emphasis of the search and seizure application to which the people, and specifically the victims of mistaken identity, shall be safeguarded from harm of circumstantial neglect, denial and justification of acquiring national security measures. Cons What could be claimed as a disadvantage upon the passage of the proposed Amendment is the dysfunction in covert and strategic operation in homeland security management. The dysfunction could be a vague issue but could be a burden in gathering of intelligence information for suspected terrorists and enemies of the state. However, in today’s application of advanced cyber-technologies, the US authorities may ultimately resort and rely on such expensive tools that may be useful enough for intelligence reconnaissance. Although it is still a common knowledge and understanding that the CIA still rely on the so-called open-source information relative to legal, Para-legal and covert extraction (Elsea, J. K. 2004). At this point of view, the covert extraction of information from sources (which could have been a result of torture), would be employed by the proposed Amendment. In which case, expose’ of information in the open court may bring vulnerability of covert operation. However, in that regard, there may be a venue to contain the inquiry on constitutional liabilities. Conclusion The Bill of Rights represents the people itself in the annals of democratic fundamentals. It is where the Constitution is made to uphold the moral virtues of citizenry and the government that represent them. Without the moral virtues of a constitution, a volatile and fragile democracy negates the human rights. It is therefore a moral obligation of every citizen in various governments to protect and lead into vanguard the proliferation of moral ascendancy for their rights above all the creation of the fundamental law of the land. References American Homepage. The Bill of Rights. Retrieved February 14, 2008 from http://ahp. gatech. edu/bill_of_rights_1789. html. Bruns, R. A. (1986). A More Perfect Union: The Creation of the United States Constitution. National Archives and Records Administration, National Archives Trust Fund Board, Washington, DC. Retrieved February 14, 2008 from http://www. archives. gov/national-archives- experience/charters/print_friendly. html? page=constitution_history_content. htmltitle=NARA%20%7C%20The%20Constitution%20of%20the%20United%20States%3A%20A%20History. Human Rights Watch (2004). Immigrants’ Rights under Attack in House Bill (H. R. 10). Retrieved February 14, 2008 from http://www. hrw. org/english/docs/2004/10/06/usdom9469. htm. Jennifer K. Elsea, J. K.(2004). U. S. Treatment of Prisoners in Iraq: Selected Legal Issues. CRS Report for Congress. Retrieved February 14, 2008 from http://www. us. gov/RL32395/pdf. Leggiere, P. (2004). Bill of Rights Under Bush: A Timeline. Mondo Globo Alpha. Retrieved February 14, 2008 from http://mondoglobo. ning. com/group/questionauthority/forum/topic/show? id=1509099%3ATopic%3A2937. Rapczynski, J. (2000). Search and Seizure. Yale-New Haven Teachers Institute. Retrieved February 14, 2008 from http://www. yale. edu/ynhti/curriculum/units/2000/2/00. 02. 04. x. html. Rodley, N. S. (1999). The Treatment of Prisoners Under International Law. Oxford Press, 2nd Edition. Retrieved February 14, 2008 from http://books. google. com/books? id=pOpdOyPn36ECpg=PA3lpg=PA3dq=protocol+on+treatment+of+war+prisonerssource=webots=vmMso_Qs-3sig=C2BMjcTvmC. Yale University (2007). 1996-2007: The Avalon Project at Yale Law School. The Lillian Goldman Law Library in Memory of Sol Goldman, 127 Wall Street, New Haven, Connecticut 06520. Retrieved February 14, 2008 from http://www. yale. edu/lawweb/avalon/lawofwar/geneva03. htm.

Sequence Alignment and Dynamic Programming

Sequence Alignment and Dynamic Programming Introduction Sequence alignment Sequence alignment is a standard method to compare two or more sequences by looking for a series of individual characters or character patterns that are in the same order in the sequences [1]. Also, it is a way of arranging two or more sequences of characters to recognize regions of similarity [2]. Importance of sequence alignment Sequence alignment is significant because in bimolecular sequences (DNA, RNA, or protein), high sequence similarity usually implies important functional or structural similarity that is the first step of many biological analysis [3]. Besides, sequence alignment can address significant questions such as detecting gene sequences that cause disease or susceptibility to disease, identifying changes in gene sequences that cause evolution, finding the relationship between various gene sequences that can indicate the common ancestry [4], detecting functionally important sites, and demonstrating mutation events [5]. Analysis of the alignment can reveal important information. It is possible to identify the parts of the sequences that are likely to be important for the function, if the proteins are involved in similar processes .The random mutations can accumulate more easily in parts of the sequence of a protein which are not very essential for its function. In the parts of the sequence that are essential for the function hardly any mutations will be accepted because approximately all changes in such regions will destroy the function [6]. Moreover, Sequence alignment is important for assigning function to unknown proteins [7]. Protein alignment of two residues implies that those residues perform similar roles in the two different proteins [8]. Methods The main purpose of sequence alignments methods is finding maximum degree of similarities and minimum evolutionary distance. Generally, computational approaches to solve sequence alignment problems can be divided into two categories: global alignments and local alignments. Global alignments traverse the entire length of all query sequences, and match as many characters as possible from end to end. These alignment methods are most useful when the sequences have approximately the same size or they are similar. The alignment is performed from beginning of the sequence to end of the sequences to find out the best possible alignment. On the other hand, Local alignments find the local regions with high level of similarity. They are more useful for sequences that are suspected to contain regions of similarity within their larger sequence context. [9] Besides, pairwise sequence alignment is used to find the regions of similarity between two sequences. As the number of sequences increases, comparing each and every sequence to every other may be impossible. So, we need multiple sequence alignment, where all similar sequences can be compared in one single figure or table. The basic idea is that the sequences are aligned on top of each other, so that a coordinate system is set up, where each row is the sequence for one protein, and each column is the same position in each sequence. [10] There are many different approaches and implementations of the methods to perform sequence alignment. These include techniques such as dynamic programming , heuristic algorithms (BLAST and FASTA similarity searching), probabilistic methods, dot-matrix methods, progressive methods, ClustalW , MUSCLE , T-Coffee , and DIALIGN. Dynamic programming Dynamic programming (DP) is a problem solving method for a class of problems that can be solved by dividing them down into simpler sub-problems. It finds the alignment by giving some scores for matches and mismatches (Scoring matrices).This method is widely used in sequence alignments problems. [11] However, when the number of the sequences is more than two, multiple dimensional Dynamic programming in infeasible because of the large storage and computational complexities.[16] Dynamic programming algorithms use gap penalties to increase the biological meaning [9]. There are different gap penalties such as linear gap, constant gap, gap open and gap extension. The gap score is a penalty given to alignment when there is insertion or deletion. There may be a case where there are continuous gaps all along the sequence during the evolution, so the linear gap penalty would not be suitable for the alignment. Therefore, gap opening penalty and gap extension penalty has been introduced when there are continuous gaps. The gap opening penalty is applied at the start of the gap, and then the other gap following it is given with a gap extension penalty which will be less compared to the open penalty. Different gap penalty functions require different dynamic programming algorithms [12]. Also; there is a substitution matrix to score alignments. The mainly used predefined scoring matrices for sequence alignment are PAM (Point Accepted Mutation) and BLOSUM (Blocks Substitut ion Matrix). The two algorithms, Smith-Waterman for local alignment and Needleman-Wunsch for global alignment, are based on dynamic programming. Needleman-Wunsch algorithm requires alignment score for a pair of residues to be equal or more than zero. No gap penalty is required, and score cannot decrease between two cells of pathway. Smith-Waterman requires a gap penalty to work efficiently. Residue alignment score may be positive or negative .Score can increase, decrease, or stay level between two cells of pathway [13]. Sequence Alignment Problems For an n-character sequence s, and an m-character sequence t , we construct an (n+1)Ãâ€"(m+1)matrix . Global alignment: F ( i, j ) = score of the best alignment of s[1i ] with t[1j] Local alignment: F ( i, j ) = score of the best alignment of a suffix of s[1i ] and a suffix of t[1j] There are three steps in the sequence alignments algorithms: Initialization In the initialization phase, we assign values for the first row and column of the alignment matrix .The next step of the algorithm depends on this. Fill In the fill stage, the entire matrix is filled with scores from top to bottom, left to right with appropriate values that depend on the gap penalties and scoring matrix. Trace back For each F ( i, j ), save pointers to cell that resulted in best score . For global alignment, we trace pointers back from F (m, n) to F(0, 0) to recover sequence alignments . For local alignment, we are looking for the maximum value of the F (i, j) that can be anywhere in the matrix. We trace pointers back from F (i, j) and stop when we get to a cell with value 0. Local alignment with scoring matrix After creating and initializing the alignment matrix ( F ) and trace back matrix, the score of F (i, j) for every cell is calculated as follows: For i = 1 to n+1 For j = 1 to m+1 left_score= F[i][ j-1] gap, diagonal_score=F[i-1[ j-1] + PAM250(s[i], t[j]), up_score= F[i-1][ j] gap scores=max[ 0, left_score, diagonal_score, up_score] Also, we should keep the reference to each cell to perform backtracking. traceback_matrix[i][j]= scores.index(F[i][j]) After filling the F matrix, we find the optimal alignment score and the optimal end points by finding the highest scoring cell, maxi,jF(i , j) . best_score has a default value equals to -1 . if F [i][j] > best_score: best_score= F [i][j] i_maximum_score, j_maximum_score = i, j To recover the optimal alignment, we trace back from i_maximum_score, j_maximum_score position , terminating the trace back when we reach a cell with score 0 . The time and space complexity of this algorithm is O(mn) which m is the length of sequence s , and n is the length of sequence t. Local alignment with affine gap penalty For this problem, there are gap opening penalty and gap extension penalty. The gap opening penalty is applied at the start of the gap, and then the other gap following it is given with a gap extension penalty. Initialization: There are Four different matrices: up_score , left_score ,m_score , trace_back Filling matrix: For i = 1 to n+1: up_score[i][0] = -gap_opening_penalty-(i-1)*gap_extension_penalty For j = 1 to m+1: left_score[0][j] = -gap_opening_penalty-(j-1)*gap_extension_penalty For i = 1 to n+1: For j = 1 to m+1: up_score [i][j] = max( [up_score [i][j-1] gap_extension_penalty, m_score[i][j-1] gap_opening_penalty] ) Left_score[i][j] = max( [left_score[i-1][j] gap_extension_penalty, m_score[i-1][j] gap_opening_penalty] ) m_score[i][j] = BLOSUM62 (s[i], t[j])) +max( m_score [i-1][j-1], left_score [i-1][j-1], up_score [i-1][j-1] ) scores = [left_score[i-1][j-1], m_score[i-1][j-1] ,up_score[i-1][j-1], 0] We find the highest scoring cell, the position of that cell,and the best alignment by following the same steps as we accomplished in the previous problem. The time and space complexity of this algorithm is O(mn). Global alignment with constant gap penalty In this case every gap receives a fixed score, regardless of the gap length For i = 1 to m+1: alignment_matrix[i][0] = -gap_penalty For i = 1 to n+1: alignment_matrix[0][j] = -gap_penalty For i = 1 to n+1: For j = 1 to m+1: scores = [alignment_matrix[i][j-1] gap_penalty,alignment_matrix[i-1][j] gap_penalty, alignment_matrix[i-1][j-1] + BLOSUM62 (s[i], t[j]),) alignment_matrix[i][j] = max(scores) alignment_matrix[m][n] holds the optimal alignment score. The time and space complexity of this algorithm is O(mn) which m is the length of sequence s , and n is the length of sequence t. Global alignment with scoring matrix In this problem there is a linear gap that each inserted or deleted symbol is charged g; as a result, if the length of the gap L; the total gap penalty would be the product of the two gL. For i = 1 to m+1: alignment_matrix[i][0] = -i*gap_penalty For i = 1 to n+1: alignment_matrix[0][j] = -j*gap_penalty scores = [alignment_matrix[i][j-1] gap_penalty,alignment_matrix[i-1][j] gap_penalty, alignment_matrix[i-1][j-1] + BLOSUM62 (s[i], t[j]),) alignment_matrix[i][j] = max(scores) alignment_matrix[m][n] holds the optimal alignment score. The time and space complexity of this algorithm is O(mn) which m is the length of sequence s , and n is the length of sequence t. Global alignment with scoring matrix and affine gap penalty There are Four different matrices: up_score , left_score ,m_score , trace_back Filling matrix: For i = 1 to n+1: up_score[i][0] = -gap_opening_penalty-(i-1)*gap_extension_penalty For j = 1 to m+1: left_score[0][j] = -gap_opening_penalty-(j-1)*gap_extension_penalty For i = 1 to n+1: For j = 1 to m+1: up_score [i][j] = max( [up_score [i][j-1] gap_extension_penalty, m_score[i][j-1] gap_opening_penalty] ) Left_score[i][j] = max( [left_score[i-1][j] gap_extension_penalty, m_score[i-1][j] gap_opening_penalty] ) m_score[i][j] = BLOSUM62 (s[i], t[j])) +max( m_score [i-1][j-1], left_score [i-1][j-1], up_score [i-1][j-1] ) maximum_alignment_score = max(m_score[m][n], left_score[m][n], up_score[m][n]) The time and space complexity of this algorithm is O(mn) which m is the length of sequence s , and n is the length of sequence t. The above algorithms require too much time for searching large databases so we cannot use these algorithms. There are several methods to overcome this problem. Heuristic Method It is an algorithm that gives only approximate solution to a problem. Sometimes we are not able to formally prove that this solution actually solves the problem, but since heuristic methods are much faster than exact algorithms, they are commonly used . FASTA is a heuristic method for sequence alignment .The main idea of this method is choosing regions of the two sequences that have some degree of similarity, and using dynamic programming to compute local alignment in these regions. The disadvantage of using these methods is losing significant amount of sensitivity. Parallelization is a possible solution for solving this problem.[14] Parallel Algorithm In this paper [ 15 ] a parallel method is introduced to reduce the complexity of the dynamic programming algorithm for pairwise sequence alignment. The time consumption of sequential algorithm mainly depends on the computation of the score matrix .For calculating the score of each cell, the computation of F(i,j) can be started only when F(i-1,j-1), F(i-1,j) and F(i,j-1) acquire their values. Consequently, it is possible to conduct the computation of score matrix sequentially in order of anti-diagonals .So, the values in the same anti-diagonal can be calculated simultaneously. ( Figure 1 ) Figure1 .Computing score matrix in parallel manner .The values of the cells marked by à ¯Ã†â€™Ã‚   can be computed simultaneously. There are two models for problem solving using parallel method that improve the performance of the pairwise alignment algorithm. Pipeline model: Each row of the score matrix is computed successively by a processor, which blocks itself until the required values in the above row are computed. Anti-diagonal model: From the left-top corner to the right-bottom corner of score matrix, all processors compute concurrently along an anti-diagonal of the matrix. Each idle processor selects a cell from the current anti-diagonal and computes its value. When all values in current anti-diagonal are computed, the computation moves on to next anti-diagonal. In the algorithm that is based on the pipeline model, the score matrix is partitioned into several blocks by column and several bands by row. All the bands distributed to multiple processors, and each processor computes the block in its own band simultaneously. By applying parallel algorithm, The time complexity is O(n) when n processor is used. [15] Progressive Method For solving multiple sequence alignment problems, the most common algorithm used is progressive method. This algorithm consists of three main stapes. First, comparing all the sequences with each other, and producing similarity scores ( distance matrix) . This stage is parallelized. The second stapes groups the most similar sequences together using the similarity scores and a clustering method such as Neighbor-Joining to create a guide tree. Finally, the third stage sequentially aligns the most similar sequences and groups of sequences until all the sequences are aligned. Before alignment with a pairwise dynamic programming algorithm, groups of aligned sequences are converted into profiles. A profile represents the character frequencies for each column in an alignment. In the final stage, for aligning groups of sequences, trace back information from full pairwise alignment is required.[ 17 ] ClustalW This algorithm that has become the most popular for multiple sequence alignment implements progressive method. The time complexity of this method is O (N 4 + L 2) and the space complexity is O (N2 + L 2). [18] Conclusion By comparing the different methods to implement pairwise sequence alignment and multiple sequence alignment , we can conclude that using parallel algorithms that implement pipeline model or anti-diagonal model are effective algorithm for performing pairwise sequence alignments. The algorithms that implement progressive method such as ClustalW are effective algorithm for solving multiple sequence alignments problems. References Robert F. Murphy, Computational Biology, Carnegie Mellon University www.cmu.edu/bio//LecturesPart03.ppt http://en.wikipedia.org/wiki/Sequence_alignment Dan Gusfield, Algorithms on Strings, Trees and Sequences: Computer Science and Computational Biology (Cambridge University Press, 1997). http://cs.calvin.edu/activities/blasted/intro03.html http://www.embl.de/~seqanal/courses/commonCourseContent/commonMsaExercises.html Per Kraulis , Stockholm Bioinformatics Center, SBC ,http://www.avatar.se/molbioinfo2001/seqali-why.html http://iitb.vlab.co.in/?sub=41brch=118sim=656cnt=1 Andreas D. Baxevanis, B. F. Francis Ouellett ,Bioinformatics: A Practical Guide to the Analysis of Genes and Proteins http://amrita.vlab.co.in/?sub=3brch=274sim=1433cnt=1 David S.Moss, Sibila Jelaska, Sandor Pongor, Essays in Bioinformatics, ISB 1-58603-539-8 http://amrita.vlab.co.in/?sub=3brch=274sim=1431cnt=1 Burr Settles, Sequence Alignment, IBS Summer Research Program 2008, http://pages.cs.wisc.edu/~bsettles/ibs08/lectures/02-alignment.pdf Aoife McLysaght, Biological Sequence Comparision/Database Homology Searching, The University of Dublin, http://www.maths.tcd.ie/~lily/pres2/sld001.htm Rapid alignment methods FASTA and BLAST http://www.cs.helsinki.fi/bioinformatiikka/mbi/courses/07-08/itb/slides/itb0708_slides_83-116.pdf Yang Chen, Songnian Yu, Ming Ling, Parallel Sequence Alignment Algorithm For Clustering System, School of Computer Enginnering and science, Shanghai University Heitor S. Lope, Carlos R ,Erig Lima , Guilherme L. Morit , A Parallel Algorithm for Large-Scale Multiple Sequence Alignment , Bioinformatics Laboratory/CPGE Federal University of Technology – Paran ÃÅ'  Scott Lloyd, Quinn O Snel , Accelerated large-scale multiple sequence alignment Kridsadakorn Chaichoompu, Surin Kittitornkun, and Sissades Tongsima ,MT-ClustalW: Multithreading Multiple Sequence Alignment

Difficult People Essay -- essays research papers

Difficult People Analysis 1. In the beginning-part plot outline, Pyotr is a frustrated youth who strives to balance his financial expenditures to that of the amount of his father's low income. The effort to consume father's pension for Pyotr's schooling creates a serious doubt to the financial security of every member in household. Pyotr's father is a disappointment to the family, his anti-social behavior has subdued the family into a state of fear and panic at the harsh tone of his voice. In the middle-part plot outline, Pyotr now fantasizes about the possibility's of leaving the farm and walking the eighty miles North to Moscow. He would establish a capacity for impunity to the family's grief of a missing son. Pyotr will be inspired by a sole motivation, the relentless three day walk to Moscow. The journey will submit a stream of inevitable consequences as a cause of starvation, frostbite and fatigue, the ability to overcome this torment to the physical appearance would only better saturate the mental ability for perseverance and determination to reach the destination. The final logic of plot that must be explained at the end of the story is Pyotr's confrontation with his guilt-ridden, contemptuous father before he leaves for Moscow. The intent to reconcile father's financial loss is expressed through Pyotr's coaxing rhetoric and judgemental approach to his father's daily attitude at the table. Finally, the room is brightly lit, not by the family's ability to regroup--their affections were a bonfire now--but by a single, dazzling beam of sympathy to Pyotr, when his father says "Good-bye...the money is on the round table." 2. The main conflict of this story is a result of the family's financial status. Father's greed, low income, and Pyotr's frustration are key points to the main conflict. The conflict has plagued Pyotr most, the hallucination of abandoning his family is the main conflict in the story. 3. The nature of conflict is most likely the man vs self "setting". As oppose to a man vs man/machine/nature alternative, man striving ag... ...her's abuse. Pyotr adds depth and perception to the story, he has nothing but contempt for his father's attitude. Stagnation in a family built to destruct, Pyotr must leave the house. 10. The tone of voice is eqaully balanced between Pyotr and his father. The mother has little or nothing to say during a mealtime argument. When Pyotr's mother tells her husband "(Pyotr)... must have money for the journey" the argument sets place and very soon Pyotr's father is screaming "Take everything!...Take it all!...Strangle me!" The ability to immediately subdue the conflict by acknowledging the personal fault of sparking the financial debate goes unnoticed. 11. The dialogue delivers reality to the domestic situation. Pyotr begins "I used to be able to put up with such scenes...but now I have got out of the way of it!" Pyotr's father retorts "...Do you know what you cost me, you scoundrel? I'll turn you out!" This is the most effective scene in the story because Pyotr's father delivers the threat, his wife and daughter bear witness to the intimidation that is aroused by Pyotr's need for money.

Comic Book Literature :: Reading Learning Education Essays

Comic Book Literature It's funny how time flies and how the memory seems to go with it. I remember when I was fourteen and decided to write the great American novel. I thought then that I was going to have to like the dreaded of all subjects, English. I gave it a good try. I gave 110% to the writing assignments, read most of what they told us was good, and really tried diligently to care about gerunds. But like it or not, a lot of English was drier than my grandmother's skin. I tried remembering some of the things my classmates and I read in our junior high school English classes and I managed to come up with a few: The Canterbury Tales, Romeo and Juliet, and A Rose for Emily, other than that, I draw a blank. Seems I spent less time reading the textbook than I did the comics I hid inside it. I look back at that time now with affection. The eighties and early nineties were a revolutionary period for comic books. With comic book writers like Grant Morrison, Frank Miller, and Alan Moore, children didn't graduate from reading comic books into reading other things; the comics seemed to mature with us. Of course, our teachers didn't see the literary revolution occurring in coming books – I'd wager most of our teachers hadn't read a comic book since their own youth. But now the comic book readers of the eighties are coming of age, we're entering the workforce, we're slowly taking over the world, and it's time we made a few changes. If I were to ask teachers if they taught or considered incorporating comic books into their lessons, the answer I expect from most would be â€Å"no.† Comic books, while another form of creative writing is not represented in nearly all of today's literature textbooks, even though comics have been around for centuries. According to Will Eisner, comic creator and advocate for comics in the classroom, â€Å"Long before the invention of the alphabet, which depends on readers' ability to memorize its code, sequential pictures were used to record knowledge and communicate man's experiences, either read or imaginary† (75). I think this issue may have started because comic books are not simply a medium based on words as a short story is. Instead, comics are words juxtaposed with art work – art work that often times seems very iconic, almost –dare I say— cartoonish . Comic Book Literature :: Reading Learning Education Essays Comic Book Literature It's funny how time flies and how the memory seems to go with it. I remember when I was fourteen and decided to write the great American novel. I thought then that I was going to have to like the dreaded of all subjects, English. I gave it a good try. I gave 110% to the writing assignments, read most of what they told us was good, and really tried diligently to care about gerunds. But like it or not, a lot of English was drier than my grandmother's skin. I tried remembering some of the things my classmates and I read in our junior high school English classes and I managed to come up with a few: The Canterbury Tales, Romeo and Juliet, and A Rose for Emily, other than that, I draw a blank. Seems I spent less time reading the textbook than I did the comics I hid inside it. I look back at that time now with affection. The eighties and early nineties were a revolutionary period for comic books. With comic book writers like Grant Morrison, Frank Miller, and Alan Moore, children didn't graduate from reading comic books into reading other things; the comics seemed to mature with us. Of course, our teachers didn't see the literary revolution occurring in coming books – I'd wager most of our teachers hadn't read a comic book since their own youth. But now the comic book readers of the eighties are coming of age, we're entering the workforce, we're slowly taking over the world, and it's time we made a few changes. If I were to ask teachers if they taught or considered incorporating comic books into their lessons, the answer I expect from most would be â€Å"no.† Comic books, while another form of creative writing is not represented in nearly all of today's literature textbooks, even though comics have been around for centuries. According to Will Eisner, comic creator and advocate for comics in the classroom, â€Å"Long before the invention of the alphabet, which depends on readers' ability to memorize its code, sequential pictures were used to record knowledge and communicate man's experiences, either read or imaginary† (75). I think this issue may have started because comic books are not simply a medium based on words as a short story is. Instead, comics are words juxtaposed with art work – art work that often times seems very iconic, almost –dare I say— cartoonish .

Ece Human Developemnt Across Lifespan

Discuss how knowledge of theories of human development across the lifespan relates to ECE practice. 2. 1 Theories of human development across the life span are explained in terms of their relevance to New Zealand early childhood education today. 2. 2 Theories of human development across the lifespan are explained in terms of understanding of adults and children and informing and influencing ECE practice. 2. 3 Theories on human development across the lifespan are explained in terms of how they inform and influence own practice in an ECE service. Lev Vygotsky Vygotsky’s theory is the idea of Zones of Proximal Development (ZPD) â€Å"the distance between the actual development level an individual has achieved (his or her independent level of problem solving) and the level of potential development he or she could achieve with adult guidance or through collaboration with other children. † (Bredekamp, 117) In New Zealand early childhood education, they believe that the understanding of a child’s ZPD is important because it allows teachers and caregivers to scaffold appropriately in order to help children reach their full potential. Self-regulation and private speech are also important aspects of Vygotsky’s theory. He theorized that children need to master these skills in order to be successful. If children are able to master these skills, they will be able to demonstrate self-discipline and improve their executive function. The educator is a co-constructor of knowledge with the child. Instead of lecturing or direct instructions, the educator allows and guides the child to come to his or her own understanding of the material. An educator in the early childhood ecntre will aid and support the child in their own discovery and initiative through a concept called, the zone of proximal development (ZPD). The ZPD allows a child to tackle a problem that is sufficiently novel to attract and maintain a child’s attention, yet not so difficult that the solution cannot be perceived (Edwards, 2005). To expand this concept to the centre, the teacher will ‘set up’ activities for children that are just beyond the children abilities and then guide and support the children to come to a solution themselves with minimal help from the educator. Howard Gardner Howard Gardner developed the theory postulates that there are seven or more intelligences that each individual is born with and is needed to live life well (Smith, 2002, 2008). As people develop new knowledge, often these intelligences complement each other (Hatch, Gardner, 1989). In New Zealand early childhood education they believe that in Gardner’s Multi Intelligence theory, the learner is seen as an active participant in their own learning. When new knowledge is presented to the chid, the child will utilize different intelligences in order to synthesize and analyse the new information. The theory of MI properly accounts for the fact that children learn in different ways and use different cognitive capabilities to construct knowledge. It also emphasizes the importance of using a diverse curriculum in the centre that utilizes different subject areas such as music, fine arts and physical activities. For example, if a teacher extends children’s learning, he or she can show some pictures, use real things, sing a song, each method of learning in this case will appeal to the learning styles of different children. In MI theory, the adults can take a broader view of learning to include all intelligences and consequently plan and deliver activities that will allow children to learn through intelligence that they are strongest in. Taking this approach to learning, adults are able to give their children extended opportunities to construct new knowledge that makes most sense to them and can therefore be readily applied to situations. Erik Erikson Erikson developed the view that each person experiences a set of â€Å"conflicts† that need to be resolved during each of the eight stages of development, the first three stages spanning early childhood. These conflicts arise from demands made on a child by his parents of by society in general. As each conflict is resolved, the individual becomes ready to grapple with the next stage. When conflicts are unresolved, they remain issues for the individual to struggle with later in life. In New Zealand early childhood education they used Erikson’ theory as a based on theories and practices in Ece setting. For example the first three stages of psychosocial development. Stage 1: Trust versus mistrust (birth to 1 year of age). During this time, the infant struggles to develop trust in the world. Erikson felt that children learn to trust when educators and parents are nurturing, responsive and reliable. Stage 2: Autonomy versus shame and doubt (18 months to 3 years). This stage is characterized by the child’s increasing desire to discover. Educators and parents help children by understanding the child’s needs for both independence and dependence. Erikson believed that, if this fails to occur, a child will experience feelings of shame and doubt. So there, this is the stage where you teach independence, not at birth. Stage 3: Initiative versus guilt (3 to 6 years old). At this time, the child is eager to master new skills, use language to ask questions, and interact with other peers. At the same time, the child still relies on the comfort and security provided by educators and parents. If a child’s developing sense of initiative is neglected or ignored, Erikson stressed that the child’s misguided energy could result in verbal or physical aggression. Teachers who apply psychosocial development in the classroom create an environment where each child feels appreciated and is comfortable with learning new things and building relationships with peers without fear† (Tamara , 2010, para. 1). In New Zealand Early Childhood education one of their goals is from Te Whariki curriculum Strand 2 that they implement in the every centre, the belonging where children experience an environment where they know they have a pl ace and feel comfortable with the routines, custom, and regular events. Educator encourage initiative in young children, they believe that children should be given a great deal freedom to explore their world. They should be allowed to choose some of the activities they engage. If their request for doing certain activities is reasonable, the request should be honoured and they provide exciting materials that will stimulate and extend their imagination.

Balancing Penn Foster Studies with Work and Family Demands Essay

My name is Julia and I am in my early twenties, and I would have never have imagined that I would one day be going back to school to earn my college degree. My mother and fiancà © encouraged me to pursue it, because of my love of art and talking to people, marketing and public relations and that it would be very expensive since I wanted to go to college in America but could not afford it at the time. They were very supportive from the start; my fiancà © assisting me in writing notes on flash cards and giving me pop quizzes and my mom reminding me to complete homework assignments when I was busy doing household chores. To me, my life was going great as I advanced further toward my future goals. Everything that glitters isn’t gold, I’ve learnt. My job as a Procurement Assistant became too demanding since the Procurement Manager left for a much better paying job. So I had to play both roles of Procurement Manager and Procurement Assistant as the directors hadn’t f ound a replacement yet and brought home extra work from the office. This left me no time for my studies. Fortunately my directors saw how stressed out I was with performing the duties of two positions and promoted me to Procurement Manager and had gotten me a competent and understanding Procurement Assistant who I trained to take over my workload when I was completing my coursework or studying for examinations so that my evenings were free. As if work wasn’t enough, I had to deal with my family and my fiancà ©. In the evenings, I had to do the household chores because my mother was taking care of my sickly grandmother and I had to run to do groceries, pay the bills and ensure my baby brother did his homework assignments and take him up in his revision as it was close to exams. Plus I had to cook dinner and since my step-father was away at his security job. If that weren’t enough, my fiancà © and I bought a small condominium after I went to oversee the work being done to by the night workmen because my fiancà © was in the Coast Guard and was working the whole week on patrol. When I returned home I was mentally and physically exhausted. I tried to study but it was no use. With my mother gone and my stepfather away at his job, my baby brother was quite the handful. Eventually when I had enough, I spoke to my parents about the household chores and they agreed that I was doing a lot  and decided that my mother would take my baby brother with her to my grandmother’s; even talked her into interviewing nurses so she can handle purchasing the groceries and paying the bills. My stepfather would step in to see to the household chores before going to work. In the little spare time I had to myself, I tried my best to complete all coursework required and tried to study for an upcoming exam. The day came when I thought myself to be well prepared for the exam and decided to take it. However, my fiancà © called me and said he was unable oversee the work that was being done that evening; so I took my laptop computer over to our condo and logged on. While I was mid-way through the exam, one of the workmen called me asking that I come and review a part of the house plan. While doing so, one of the workmen, being idle, fiddled with my laptop causing my exam to be submitted and when I discovered I had failed the exam, I had literally broke down. I was trying my best to ensure that I could cope with everything that was going on in my life but this was my limit. What was I trying to accomplish here? Two weeks, after that disastrous event, I eventually calmed down and called the school concerning my exam. Fortunately, they understood my situation and told me that I should have locked my computer when leaving it unattended and I was able to retake the exam and I passed with a good grade. I sat down with my fiancà © and told him what happened and he immediately replaced the workmen with a more responsible and sensible group of work men and even gotten his brother to oversee the work being done to our condo. My fiancà © was given annual leave so he is at home for a month and he is assisting me with my studies as before. Now that I had a plan set in motion that would help ease my stress and give a peace of mind; I think that I would be able to accomplish my goal of earning my degree in Business Management. My advice to students and persons who are considering returning to school to continue their education at the tertiary level is that when you have responsibilities that need to be taken care of you will need to find a way to make everything work together; sit with your parent or significant other and create a weekly planner and jot down the responsibilities that you are capable of handling and you are not capable of; this way you will not be stressed out. Also there are events that we are unprepared that will take place in life such as a loved one falling ill with a terminal disease or an accident. You will need to take extra care how you are to deal with these  kinds of situation. Always remember this is one of your goals to attain your degree and don’t let anyone or anything get in the way of your dreams!