Study "Economics / Finance / Banking" Essays 56-109

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International Financial Crises Research Paper

… In the beginning, the Bank of Thailand tried to curb the capital inflows by buying back the baht they sold in foreign exchange markets by issuing bonds (Krug, 2000). The problem was that this activity drove the local interest rates… [read more]

China's Economic Policy Professional Writing

… China's Economic Policy

The People's Republic of China has seen a number of different economic policies in its history. The PRC began with a Communist ideology, something that was reflected in early policies, which were laid out in grand, nation-wide plans. The first major plan came in the form of the Great Leap Forward. This period saw China attempt to move from a primarily agricultural economy to a more industrial one. Initiated in 1957, the Great Leap Forward saw a number of reforms. The first was the collectivization of agriculture, in line with Communist economic philosophy. The second component of the Great Leap Forward was extensive government spending on the development of heavy industry. This spending rose from 38% in 1956 to 56% in 1958. In addition, the people were enlisted to help with the industrialization process, as backyard furnaces were built, theoretically to produce steel but in reality to produce pig iron. Over 100 million peasants were enlisted to build water conservation works (Harms, 1996).

The end result of the Great Leap Forward was famine and massive social upheaval as people began to move around the country in search of food. A reduction in central control over agriculture followed the Great Leap but China's economy developed little, while the central government imposed its will on social policy via the Cultural Revolution.

Following's Mao's death in 1976, a power struggle followed and Deng Xiaoping eventually came to power. He initiated the reforms that started China on the current economic path. Among the reforms that Deng introduced was the introduction of Special Economic Zones (SEZs) to foster trade. The central government maintained control over the process of opening up China's markets. Reforms were sweeping, involving issues of taxation, finance, trade, price…… [read more]

Crisis as an Inevitable Feature of Capitalism Essay

… Economics

Crisis as an Inevitable Feature of Capitalism

What were the immediate and long-term causes of the current political economic crisis?

Today's economic and financial crisis began in the rich world particularly in the U.S.A. It has been referred to… [read more]

Economic Business Policy Case Study

… Organization Behavior

Economic Business Policy

Economic Policy

Economic Business Policy


Government can have various options to make welfare for the general public of its country. The most important step is to improve the industrial infrastructure and bring efficiency in… [read more]

African Public Finance the Heritage Foundation Released Essay

… African Public Finance

The Heritage Foundation released its 2012 annual Economic Freedom Index which measures "10 benchmarks that gauge the economic success of 184 countries around the world" ( About. 2012. PP. 1 ). Two direct neighbors in Sub-Saharan Africa: Botswana and Zimbabwe demonstrate the extent to which government policy can engender or strangle: economic activity, capital formation, national savings, infrastructure development, and foreign direct investment. Botswana is a marker for economic freedom and strong growth with the "second best score (69.6) out of 46 countries in the Sub-Saharan Africa region…and a world rank of 33" ( Botswana. 2012. PP. 1). Contrastly, Zimbabwe's overall score of 26.3 leaves the nation last in the "46 countries in the Sub-Saharan Africa region…and 178th in world ranking ( Zimbabwe. 2012. PP. 1). This data leads to significant conclusions regarding policy choices for other African nations in specific areas of: property taxation, tax structure, and protection of property rights.


With a developed and thriving economy based on market orientations, open and free trade, limited government, and significant property right protections Botswana has a five-year annual growth rate of 3.5%, GDP of 28.5 billion and $15,849 per capita, public debt at 13.2% of GDP, and a stable low inflation rate ( Botswana. 2012. PP. 1-2). Zimbabwe conversely has a negative five-year growth rate of 2.4%, GDP of 5.5 billion and $434 per capita, public debt at 56.2% of GDP, and continues to suffer from a decade long bout with pernicious hyperinflation ( Zimbabwe. 2012. PP. 1-2). While Botswana is marked with social, political, and economic stability; Zimbabwe under the regime of Robert Mugabe has devolved from "a diversified economy with a well-developed infrastructure, and an advanced financial sector…to an economic and social destruction characterized by instability and volatility" ( Zimbabwe. 2012. PP. 2). African nations surveying these economic divergences can discern useful lessons on creating a balance between private and public sector roles within a greater framework of economic philosophy and governance.

Property Tax

Developing economies around the globe must embrace the importance of a strong and vital infrastructure; not simply the roads, bridges, and buildings but a broader expanse to include: education, health care, and competitive industry. These essential elements come from considerable private sector influence however; the role of government is not to be understated in providing the guiding direction in developing and maintaining institutions and infrastructure. To do so revenue must be raised from the private economy through taxation; sufficient to collect requisite funds but not to create obturations to growth. Much of the Sub-Saharan continent suffers from inadequate infrastructure primarily because of lack of private…… [read more]

Economic Benefits of Buy a House Get a Green Card Research Proposal

… ¶ … Buy a House, Get a Green Card

Fundamental objective of this proposal is to present the economic benefits of "Buy a House, Get a Green Card." Implementation of the proposal could serve as the economic solution to the… [read more]

Forces Leading to Changes Literature Review

… Many large banks in the U.S. led to huge government bailouts. This happened first in the year 2008 when there was a huge credit crunch and a global banking crisis. Governments of several countries around the world were forced to… [read more]

Corporate Finance Potential Impacts Research Paper

… Present and Future Values of Annuities

An annuity is the purchase of a regular income with a capital lump sum. The rates given for annuities reflect market conditions. The firm selling the annuity will invest the lump sum with the aim of making a return greater than the regular payments they make to the annuity holder. If interest rates are low the returns that the firm can gain are low, when interest rates increase the annuity rates will increase eventually, although there is likely to be a lag. This relationship where annuity rates change when interest rates change may be observed in the past performance of annuities. In figures from the UK

, looking at pension annuities, the respected firm William Burrows Annuities compares annuity rates in April 2008, when interest rates were 5% to April 2011 where interest rates were 0.5% (Currie, 2011). Using the benchmark of a £100,000 capital lump sum the annuity given in 2008 would have been £6,547 per annum, this amount decreases in 2011 to £5,943 per annum (Currie, 2011).

The calculation of the present value of an annuity is complex, as this involves discounting the future cash flows into today's value. If interest rates increase the cash flow from the annuity increases (increasing the future value). The present value will depend on inflation, inflation may increase, but if the economy is managed correctly inflation should be held at a rate lower than the proportional increase in interest rates. Theoretically, the present value may also increase, but this will be less pronounced compared to the future value and is dependant on many divergent factors, apart from inflation which may include diverse issues which are not directly related to interest rates, such as the cost of labor and the cost of oil.

Impact on NPV Calculations

Net present value calculations look at the value of an investment in the future by taking the futures cash flows and discounting them into today's value by allowing for the time value of money. The discount rate may be based on the expected rate of inflation; however firms will often base the discount rate on their actual cost of capital (Drake and Fabozzi, 2009). As interest rates increase the cost of capital (which is discussed in the next section) will also increase. Assuming the same cash flows the following tables demonstrate the difference that that an increase in interest rates will have on the NPV. The example of a five-year investment of $10,000 creating an annual return of $3,500 may be used. In table 2 the discount rate… [read more]

British Age of Austerity Essay

… In conclusion, by embarking on a policy to cut expenses and thereby decrease the deficit, the Cameron government is on sound economic footing in regards to theory as well as historical experience.


Bartlett, Bruce (2004). Brief Analysis No. 483. National Center for Policy Analysis.

Burnham, James B. (2003). Why Ireland Boomed. The Independent Review, Vol. 7, No. 4-537 -- 556

Gwartney, James, Stroup, Richard L. & Lee, Dwight R. (2005). Common Sense Economics. New York, St. Martin's Press

Hauptmeier, Sebastian, Heipertz, Martin & Schuknecht, Ludger (2006). Expenditure Reform in Industrialized Countries: A Case Study Approach. European Central Bank Working Paper No. 634.

Laffer, a. (1986). The Financial Analyst's Guide to Fiscal Policy. New York, Greenwood Press.

Laffer, Arthur B. & Moore, Stephen (24 October 2000). To soak the rich, cut their tax rates. Wall Street Journal p. A26.

Luskin, Donald (2005, July 12). Smells like victory. National Review. 8.

McCoy, Kevin (2006, October 2). Income Tax Cuts benefit all Payers. USA Today. C8.

Mitchell, Daniel J. (2006, October). Fiscal policy lessons from Europe. Heritage Foundation Backgrounder #1979.

Moore, Stephen (2005, June 19). Real tax cuts have curves. Wall Street Journal. A16.

Schettkat, Ronald (2003, January). Differences in U.S. -- German Time Allocation: Why Do Americans Work Longer Hours Than Germans? Institute for the Study of Labor, Discussion Paper No. 697.

Stelzer, Irwin M. (2003, September 16). European Holiday. The Weekly Standard.

Sowell, Thomas (2004). Basic Economics: A Citizen's Guide to the Economy. New York, Basic Books.

Sowell, Thomas (2006, June 2). The "Trickle Down" Left: Preserving a Vision. Capitalism Magazine.

Williams, Walter E. (2006, January 11). Tax cut beneficiaries. Capitalism Magazine.

Congressional Budget Office (2005, December). The long-term budget outlook.

Eurostat…… [read more]

Economics as My Intended Field of Study Application Essay

… Economics as My Intended Field of Study

My intended major is Economics, a subject in which I developed an interest in two very different ways. At the level of microeconomics, I have first-hand experience with the challenges of surviving alone in the United States as a self-dependent international student. On one hand, the U.S. offers many potential opportunities; on the other hand, economic survival for working students requires very responsible management of finances and resources. On the level of macroeconomics, I was both alarmed and fascinated by the manner in which the entire U.S. economy nearly collapsed in 2008, just as I was beginning to settle into life in the U.S. In addition to issues of the highly complex interrelationships among and between the business, investment banking, and housing sectors, the situation also highlighted important ethical issues that obviously must be addressed to prevent repeated economic catastrophes.

As a student of economics, I hope to develop a basic understanding of the classic fundamental principles in the field. However, I also hope to study some of the broader ways that economic issues affect and even shape contemporary human societies. Since coming to the U.S., I have learned that the American consumer economy is much more complex than I realized, especially in connection with the extent of consumer dependence on credit to fund higher lifestyles than…… [read more]

Decline of Upward Economic and Social Mobility Term Paper


One of the most fundamental and defining elements of the American way of life in the modern age has been the fact that economic and social mobility have always been… [read more]

Career Objectives Pursuing Admission Essay

… By persevering, I got the satisfaction of passing those classes, and being able to move on to the next challenge. I know that my chosen career involves a fair amount of number crunching, so I feel good about having mastered the basic skills that I will need and use frequently. My confidence has grown, and that comes with having a solid foundation to build on.

Now I am ready to study at the Masters degree level. I am looking forward to studying financial analysis, accounting, economic forecasting, investment analysis, international finance, and many other topics that require math skills. Learning more about all these subjects is important. I particularly want to understand how the economy works, especially since there are everyday reminders that come with living during a recession. But challenges bring opportunities, and that is one of the benefits of having an MS in Finance. I will have the educational tools to solve problems and create opportunities for others.

Besides letting me solve business problems, a career in banking will enable me to make a difference, by providing banking services. My goal is to have a job that lets me contribute to society, and the world of commercial banking will give me that opportunity. Also important, because I like working with people, I look forward to becoming a banking analyst and working with entrepreneurs and corporate clients. An MS in Finance puts me in position to make all this happen.

In the banking industry in particular, there is an advantage to having an advanced degree. As a senior banking analyst, having an MS in Finance will allow me to compete for the jobs that I am interested in. Having an MS in Finance also means having the ability to qualify for a better position, one that is more senior with more challenges and responsibility, and hopefully with better pay, at least in the long run.

After taking a lot of time to consider my career objectives, I must say that the current economy has also influenced my thinking. I want to contribute to economic growth, and having an MS in Finance will go a long way toward enabling that dream. Whatever the causes of recessions and economic slowdowns -- and I do have my theories about how the country and the world have gotten into such a mess -- I want to personally make a difference in improving the economy, both locally and globally. Becoming a banking analyst will help me to realize that goal as well.

Attaining an MS and Finance and going on to a career as a banking analyst will further my career objectives and personal goals. These accomplishments will also put me in a position to realize another long-term goal, making a contribution to society. For these reasons I believe I should be accepted into your program. I am truly excited at…… [read more]

Banking Regulation Captain Essay

… If there had been (for example) no Office of Thrifty Supervision (which was responsible for allowing WaMu to make home loans with a giddy disregard for economic realities), at least many individuals would have taken it upon themselves to pursue… [read more]

Economic Crises Term Paper

… Economic Crash Through the Works of Wessel, Lewis and Sorkin

Michael Lewis gives an excellent first impression of Wall Street in the 80s with an outsider's introduction to the inside world of stocks, bonds, and debt reshuffling. Lewis' The Big… [read more]

What Are the Social Impacts on People's Daily Life of the Current Economic Crisis? Research Paper

… Economic Crisis

The Origin and Impact of the 2008 Economic Crisis

The economic crisis that hit in 2008 had its beginnings nearly thirty years ago under President Ronald Reagan. It was Reagan who ushered in the era of Wall Street… [read more]

How Does Canada's Federal System Affect Economic Policy in the Recovery? Term Paper

… ¶ … Canada's Federal system affect economic policy in the recovery?

In answering this question, you might consider the following (though you should NOT treat them as a series of short answer questions):

What is the most important economic priority… [read more]

CSR in Saudi Arabian Banking Research Proposal

… Participation in CSR activities by banks in Saudi Arabia has been viewed to improve their corporate reputation and hence according this banks easy management of the business and good future prospects as it would be easier to attract new customers.… [read more]

Most Important Pieces of U.S. Banking Financial Sector Legislation Essay

… ¶ … U.S. Banking/Financial Sector Legislation in the Last 50 Years

The past half century has been a turbulent period in America's banking and financial sector history based on a need for news laws in an increasingly globalized marketplace. Although… [read more]

Economic Crisis Iceland 2008 Research Paper

… Economic crisis: Iceland 2008

Current state of the economy

In numerical data, the economy of Iceland is marked by the following:

A gross domestic product of $12.15 billion, making Iceland the 145th largest economy of the globe (out of 227… [read more]

Economics A) I View the Current Unemployment Essay

… Economics

a) I view the current unemployment rate of 10% as being higher than the natural rate. Unemployment rose rapidly as the result of expectations of a slowdown and economic contraction, rather than as a return to equilibrium. Unemployment in the U.S. has held in a relatively stable range between 4-6% since the early 1990s (, 2010). The increase to 10% represents an outlier created by unusual economic conditions.

b) The Phillips curve has showed to hold in the short run, so in the short run the government could trade inflation for less unemployment. The current Fed policy is to hold down interest rates to stimulate growth. This will bring inflationary pressure on the economy, but it will also create jobs. If rates were increased now, heading off potential inflation, that would halt growth. Unemployment lags growth, however, so the government needs to make the inflation trade-off in order to reduce unemployment. The stimulus served its purpose. The deficit is less a problem of stimulus than of unfunded liabilities left over from the previous administration. Any further stimulus at this point, however, would be wasteful spending. The economy is beginning to grow again and will bring about employment gains. Further stimulus at this point would not likely lead to gains - at least not those that are worth the cost in deficit. The large deficit is a concern, but can be managed with strong economic growth and containment of key costs -- and these are defense, Medicare and Social Security, not one-time stimulus. Ongoing stimulus would represent another unfunded liability, which would be a strong negative for the country's debt situation. At present, however, the debt is manageable and given strong growth will remain so.

2. a) A global currency would essentially a basket of currencies. There would be inherent problems just in creating such a currency. Some of the world's emerging economies have currencies that are either unstable or are pegged to the dollar. As the recent troubles in the Eurozone indicate, such a currency would be difficult to sustain as stronger, more stable regimes would be forced to bail out weaker one. The political will and broad-based fiscal controls necessary to implement such a currency would be difficult to maintain. If there is a good rationale for such a proposal, it is that stability of global trade could be improved by switching to such a basket.

b) One positive consequence for such a move is that the U.S. would see less demand for the dollar,…… [read more]

Comparing Assessing the Impact of Political or Economic Globalization Between Two Countries Thesis

… ¶ … Political or Economic Globalization Between Two Countries: China and India

The following work is of the nature that focuses on comparison and assessment of the impact of political or economic globalization and specifically as related to two particular… [read more]

Banking Communication and Marketing Essay

… Banking Information Sources

Assessing the Reliability, Authority, and Respect of Various Sources of Information on Banking Communication and Marketing

The reliability of financial information in general has come under great scrutiny recently, for very practical reasons. When bonds with the… [read more]

Recent Finance Institution and Bank Bailout Plan Thesis

… Bailout

As the subprime crisis began to unfold, banks and other financial institutions around the world began to feel the weight of "toxic assets" on their balance sheets. A few such institutions found themselves at the edge of insolvency, and… [read more]

Banking Crisis the Global Financial Crisis Began Essay

… Banking Crisis

The global financial crisis began as a banking crisis in the United States and spread quickly throughout the world. A crisis of this proportion does not gestate quickly or easily -- a large number of factors and substantial time are required to create this type of economic mess. Among the lead factors were deregulation of banking sectors around the world, interest rate policy at the Federal Reserve, and the rampant securitization of mortgage debt.

The banking crisis is, at its heart, a credit crisis. Banks no longer have the capability to lend as freely as they once did. As a result, firms and individuals have a more difficult time getting the credit they need for capital investments, operating lines of credit or mortgages. This results in a negative reinforcing cycle of economic contraction. Deregulation of banking sectors in the U.S., Europe and elsewhere allowed banks to hold much more risk, lend out more of their money and lend to riskier borrowers. When the housing bubble burst and mortgage defaults began to accelerate rapidly, this excessive risk resulted in bank failures and near failures.

Interest rate policy at the Federal Reserve was another key antecedent. The dot-com collapse in 2000 led the U.S. Federal Reserve to lower interest rates as a means of increasing the money supply. As a result, U.S. banks were flush with cash to invest. This, combined with lack of oversight, led to increased lending to subprime borrowers, and even competition to attract such borrowers. This increased the risk that banks held. Without the increase in money supply, deregulation alone could not have brought about such catastrophic consequences (Knowledge @ Wharton, 2009).

Lastly, the crisis was spread throughout the world by the securitization of mortgage debt. High-grade mortgages have been securitized for decades by Fannie Mae and Freddie Mac, but during the 2000s mortgage-backed securities became in vogue. These complex instruments were an attempt to diversify away the debt. Financial institutions and national governments around the world latched onto these securities, misled by claims of AAA debt ratings. When the high rate of default caused the value of these mortgage-backed securities to collapse, it created substantial liabilities at financial institutions worldwide, leading to a global banking crisis.

Compounding the situation, when U.S. financial institutions began to fail, all of the assets that they backed became of questionable value (or valueless). This was the primary impact on Australia's banking system. It was estimated that the Big Four were exposed to $412 million at Lehman Brothers, the U.S.-based investment bank that collapsed (Johnston, 2008). Only Westpac, with around $10 million in exposure to Lehman, was spared a heavy hit. These banks had exposure, however, to other U.S. financial institutions, including AIG and Bear Stearns.

Despite these exposures, the Australian banking system fared well, compared with banks in many countries. In October 2008 the World Economic…… [read more]

International Finance in Japan Thesis

… International Finance in Japan

This work will provide a detailed discussion of the various ways the recent financial crisis in the United States and the ongoing U.S. recession in theory and in practice is affecting Japan.

In a recent report… [read more]

Finance and Financial Management Research Proposal

… Finance

a) the projects net present value is a loss of £2,180,988. The IRR is -7%. The project does not pay back, since the viable lifespan of the project is six years. Therefore, the project as presently constituted is not… [read more]

Political and Economic Implications of International Debt Essay

… Political and Economic Imlications of International Debt

International debt can be seen as an element part of the international financial infrastructure. At its surface, one can consider it as a way by which governments add money to their budgets in… [read more]

Differences in Economic Slowdowns and Recessions Term Paper

… ¶ … Economic Slowdowns and Recessions

Macroeconomic concept defines recession as a decline in the GDP during two successive quarters which is a short period of depression. NBER's definition of recession is a situation that is marked by a massive… [read more]

History of Economic Thought Mercantilist School Term Paper

… History Of Economic Thought

Mercantilist School a) the mercantilist trend was focused on a simple thought: the wealth and status of a nation depends directly on the accumulation of bullion (gold, silver and other precious metals). This led to the… [read more]

Global Corporate Finance Term Paper

… Global Corporate Finance

With the breakdown of the Soviet Union and the apparition of new states on the world map, correlated with strong economic developments in countries formerly categorized as developing, new corporations from countries like Kazakhstan, Hungary, Vietnam or… [read more]

Islamic Finance Term Paper

… Islamic Finance

What is Islamic Finance?

The Sharia or 'Islamic Law' unlike conventional Western Banking prohibits making money from money, like charging interest known as Riba which is usury. The law stipulates that wealth must be 'generated' solely through valid… [read more]

E-Banking on the Banking Industry Term Paper

… ¶ … E-Banking on the Banking Industry

To understand the relationship that can develop between the Internet and banks, one has to first understand the nature of both these items. The first to be understood is the banks. So far… [read more]

Economic Globalization Term Paper

… Financial Systems, Economic Growth, And Economic Globalization

Globalization has had significant impacts on all economies of the world, with manifold effects. It affects their production of goods and services. It also affects the employment of labor and other inputs into… [read more]

Housing Market Economic Analysis Term Paper

… Housing Market Economic Analysis

To Americans, ownership of their own homes was an essential part of living, and it formed a part of their base - Community, security, accomplishments and family. Yet the nature of home ownership has now changed,… [read more]

Trade Issues in Economic Development Term Paper

… Trade Issues in Economic Development

This report attempts to present insights into trade issues as they relate to economic development, globalization and developing countries. Today, globalization and world trade are being spurred on by new advances in technology, finance and… [read more]

History of Swiss Banking System Term Paper

… History Of Swiss Banking

In addition to the secrecy of Swiss banks, they differ from United States (U.S.) banks in two other significant ways, the variety of services offered and the quality of their loans. In the U.S., banks are… [read more]

Economic Data Term Paper

… The fact that the company has higher profits stimulates their further investments.

On the other hand, tax cuts are also equivalent to an attempt to minimize incentives for tax evasion. Indeed, it is assumed that, psychologically, tax evasion appears in conditions where the return compensates the risk implied by committing an illegality. If the return is not that high, then the incentive is diminished.

The main cost is related to the budgetary deficit I have previously mentioned. The main source of income for the government budget is represented by taxes. In the case of tax cuts, it is obvious that this is decreased and that projects benefiting from governmental spending will have to be frozen.

4. The long-term interest rates, as is the case for mortgage rates, adjust themselves slower to the changes produced on the market and to the measures implemented by the Federal Reserve. Additionally, monetary policy is generally associated with short-term financial instruments and the Federal Reserve monetary policies influence these first.

5. In some countries, like Botswana, the infection rate of the population is around 38%

. The impact of this on the country's economy is quite clear and it manifests itself both in terms of production and costs. Indeed, the government needs to have additional health programs within its spending scheme, meant to fight the epidemic. On the other hand, it is clear that the people infected with HIV cannot work at the same potential as healthy individuals and this may show in the overall GDP of the country.


1. Snow: Bush will trim U.S. spending. December 2004. CNN World Business. On the Internet at

2. Wolfe, Elizabeth. November 2003. Botswana-AIDS. Associated PressOn the Internet at

Snow: Bush will trim U.S. spending. December 2004. CNN World Business. On the Internet at

Wolfe, Elizabeth. November 2003. Botswana-AIDS. Associated PressOn the Internet at… [read more]

United States From Nigeria Term Paper

… During my years of study and in the Navy for example I have displayed motivation and teamwork skills. I have dedicated my time to working with my fellow students and colleagues, and have worked on maintaining good interpersonal skills at all times. Furthermore my participation in activities such as the rag, a community charity event at our college, as well as my security and front desk work have helped me develop the necessary interpersonal skills to serve effectively in an assistantship.

My plans for the future and for my career are to enter the financial field. My studies and my professional ventures have revealed to me that this is where my interest truly lies. Furthermore I believe I have what it requires to succeed in this extremely competitive field. Setbacks such as the fact that my parents are immigrants without sufficient funds to pay for my education, and my discharge from the Navy, served only to add to my determination for success. I see these setbacks not as problems or indeed as setbacks in themselves, but rather as challenges that can be overcome on the path to achievement.

It is this motivation and determination that I will bring to a graduate program in the financial field. I would therefore like to focus my MBA studies on finance. With this degree I will be able to boost my career, while also serving as an asset to my college. My energy and enthusiasm will serve to not only make a success of my studies, but also to bring the best of quality to any assistantships or community programs on which I serve.

Finally, I believe that my inherent qualities will serve to carry me to achievement in whichever direction I choose. Personally, I believe the most fulfilling career that I could pursue lies in the finance and banking field. Thank you for taking the time to consider my application. I look forward to receiving your reply, and hope that my comments will be…… [read more]

Finance Any Asset Pricing Theory Term Paper

… Another factor is that, as many facets of risks will determine expected returns, as there are factors. (An Introduction to Investment Theory)

These factors of the APT theory, as some recent research suggests, are more effective at predictions of stock returns than even the simplest version of the alternate CAPM would do; in fact, the APT is seen as building on the CAPM and not as replacing it totally. The CAPM, on the other hand, does not take into consideration the co-variants of the stocks in a market. What it does is take an ingenious short cut through the risk factor of stock. It divides the risk into systematic (market) risk and unsystematic. In this manner, CAPM essentially concentrates on the relationship between the systematic risk or beta, and the expected returns. The fact that betas can very well be calculated using an extremely simple formula adds to its value. The CAPM is also able to deliver an assurance to the investor that if you are aware of a particular stock's beta, then you can be sure of its long-term return values. (An Introduction to Investment Theory)

Though most investors question the accuracy of such statements, it has been proven after extensive testing that the CAPM is indeed an accurate testing formula for measuring returns on stocks, and stocks with higher betas do have a higher value of returns. There are doubts, however, that the CAPM will work well only in long-term predictions. The APT on the other hand divides, without specifically stating why, systematic risks into various smaller component risks. The pricing of assets in relation to one another is also explained in this model, rather than explaining the pricing of assets as against an unknown portfolio, as is done in the CAPM theory. Due to this, an investor would be able to address a specific risk that he worries the most about, like, for example, inflation, and eliminate it successfully. (An Introduction to Investment Theory)

Though the APT is considered to be a 'truer' theory than the CAPM, it is true that the former is difficult for the investor to grasp readily, while the CAPM with the simplicity of its working principles, would be a better choice for the investor and the financial professional to use. (From the Article provided) any investor who wants to use the APT would have to be armed with the certain knowledge of the risks involved in an investment. This is a near impossibility, and, in this respect too, the CAPM scores more points. (An Introduction to Investment Theory) I therefore strongly feel that the CAPM is more user-friendly and the better choice for the investor and financial professional of today.


An Introduction to Investment Theory" Retrieved at Accessed on 29 July, 2004

Bayesian Approach of the Arbitrage Pricing Theory" Retrieved at on 29 July, 2004

Capital Asset Pricing Model" Retrieved at Accessed on 29 July, 2004

Definition of Arbitrage Pricing Theory" Retrieved at on 29 July, 2004… [read more]

Business and Finance Understanding Term Paper

… I believe one of the most outstanding examples of this incorporation of current trends and real life professionals within finance arena with the core concepts of business can be found within McDonough School Of Business and Georgetown. Therefore my choice of a future school, to continue the development of my professional skill set has been wisely driven by my own as well as other's admiration of the standards and practices of the your institution.

The core courses of my business degree have been the most enjoyable classes I have taken, anywhere and applying the knowledge of the text and lectures to everyday experience within my work environment moves the concepts full circle and gives me an even clearer picture of where I see myself in the future. My major at PIMA is finance and accounting, and I have thrived within the academic environment of finance and accounting, which is why I want to continue my education with work experience in the premier financial district in the United States, as well as further academic pursuits.

Imparting the understanding of the importance of business planning within every person's life is a calling for me and I feel that the opportunity to do so within a professional environment would be a natural step for me in my career. I also feel that I can work well with others, and could develop good working relationships with clients from every type of background. Helping people invest wisely for their futures is not only a career to me, it is something that can make a vast difference in people's lives when they most need it, and I would feel great satisfaction in helping people create future happiness and security.

Incorporating and applying large amounts of information and data is one of my strengths, and a valuable tool in finance as well as investment structuring. I like to dig deep into the details of financial instruments, and I enjoy working with people while delving into their investment needs, and their retirement goals and dreams. Teaching others the messages of their own financial history and future would be a formidable career goal, and one I hope to embrace…… [read more]

Economics Why That Dollar Term Paper

… " (Bowbrick 2003).

While it is true that the uses of money have extended to the Internet in interesting ways, it is also obvious that the emergence of e-currency has not occurred as a result of a pressing need. The circumstances are not the same as in ancient times, where money saved the time involved in the barter system. With the advance of the money system, a higher quality of life could be pursued, because there is more time to indulge in the acquisition and consumption of leisure time and goods.

In terms of the Internet, many opportunities have come about to make, invest and spend money online. This has made the use of the credit and debit card increasingly popular. The global economy is affected, since it is easier to spend and receive foreign currency, and opportunities also exist to relieve the need for jobs.

Money is thus more than paper and coins. It has become a complicated system of acquisition, investment and status. The idea of money is often psychological for its inducement of well-being as it is a concrete and physical means of acquiring goods and services. While the money system has solved the time problem involved in the barter system, it has however a number of attached problems, such as inflation and increasing interest rates. Perhaps it is true that money does indeed make the world go round. This is evident in the misery experienced by the poor and the affluence enjoyed by the rich.


Beggs, J. "Euro Under Pressure but Recovery is in The Wind." Euro Economy & Financial Markets,

Beggs, J. "Euro Interest Rates Have Further to Go." Euro Economy & Financial Markets,

Beggs, J. "Sterling Under Pressure." UK Economy & Financial Markets,

Bischoff, B. "Consumer Action: The New Conversion Rules." In, October 21, 1998.

Bowbrick, S. "Past Currency." In Guardian Online, February 25, 2003.

Davies, R. & G. Davies. A Comparative Chronology of Money:…… [read more]

Financial Development and Economic Growth Term Paper

… We will then examine as to what extent the development in the financial markets of both the countries have contributed to their economic growth. To measure the effect of financial development, we will make use of regression analysis by assuming… [read more]

International Finance the Performance Term Paper

… A Eurodollar is a deposit held at a foreign bank, but that is denominated in USD.

With respect to the type of instrument, the theory is that all of these different instruments will be sold at par value, once the features have been accounted for. This implies that any option is equally good -- the reality is that a vanilla bond is usually more desirable. These are easier to manage in terms of the issue, and they have greater liquidity as well, which will allow the issuer to recoup the full par value for the issue. Economically, a basic bond is the most efficient structure.

In terms of currency, the bank is using the proceeds of this bond issue to make Eurodollar loans to clients. That is to say, the bank needs to have USD on deposit, so that it can lend out USD as Eurodollars to the clients. This means that the bond issue in question should also be in USD. It is not necessary that clients are in the U.S., as ultimately the source of the USD is not all that relevant, but this should be the currency of issue. The market for USD issues in Europe is sufficiently large and liquid that this is a viable means of issuing debt -- that would not be the case if the bank was seeking to raise funds in most other currencies. Thus, the situation calls for an issue of Eurodollar debt, so that there is no conversion loss when the bank then chooses to lend this money out. The bank will instead be able to issue these Eurodollars and earn a stable, reliable spread when it re-issues those proceeds as loans to clients.


Anand, K. (2014). 100 days of Narendra Modi government: Sensex rallies nearly 9%, top bets. The Economic Times. Retrieved October 8, 2014 from (2014). Bond markets and bond market instruments. Retrieved October 8, 2014 from… [read more]

Finance Questions on Capital Raising Advice Term Paper

… Finance

Questions on Capital Raising

Advice on Raising Capital

When businesses wish to expand they are likely to require further capital to support that growth. If the firm does not have sufficient internal capital, they will need to turn to… [read more]

Economic Impact Study: Students Research Paper

… Often, college students fall into that category, as do many people who are just out of college and now have a number of student loans they will have to repay in an economy that is not growing or adding new… [read more]

Nigeria: Economic and Human Health Term Paper

… Abraham Nwankwo, is the size of the domestic debt being serviced by the federal government (Amaefule, 2013). Current plans are to shift a portion of this debt to external loans, a move which the World Bank seems to support (World Bank, 2013). Lending by multilateral lending institutions like the World Bank is therefore having a positive impact on Nigeria's economy and social programs, at least for the time being.

Nigeria's economy can be strengthened in a number of ways by improving the health of the populace. The water supply in Nigeria is improving, but only 95% and 57% of private and government sources of water, respectively, are considered safe (World Bank Group et al., 2008). Access to medical services is also extremely limited and many facilities are understaffed and lack the basic equipment and consumables to operate a primary care clinic. Malaria is endemic to Nigeria, yet anti-malarial drugs are still hard to come by in some parts of the country. HIV / AIDS is epidemic in Nigeria and the economic and health aspects of this disease, especially for HIV / AIDS orphans, are substantial.

Should access to safe water sources improve then workers would spend less time being ill and worker productivity would increase. A similar benefit would be obtained by increasing access to anti-malarial drugs and combating the vectors carrying this disease. Mortality and morbidity rates would decline and the growth of a career professional class might become possible. Access to basic medical services, such as maternal health and child vaccination would improve the developmental outcomes of Nigeria's children. The HIV / AIDS epidemic represents a significant burden on taxpayers because of the growth in the number of HIV / AIDS orphans. The diagnosis and treatment of HIV-infected individuals is currently being handled by non-governmental organizations (World Bank Group et al., 2008), but the orphans are the responsibility of the state.

Nigeria's policymakers have instituted a matching grant program to improve healthcare delivery (World Bank Group et al., 2008). The federal government will match local funds with money from debt relief and awards will be based on performance; however, the infrastructure needed to assess the quality of health service delivery is still being worked out. Nigeria has instituted a scorecard assessment program in 9 of 36 states under LEEMP (Local Empowerment and Environmental Management Project) in 2005. Until this reporting infrastructure can be built and optimized, the State Ministry of Health, with the support of the Department of International Development (UK), is fostering the growth of community health committees. The World Bank and other financial partners are therefore helping Nigeria improve its public health system.


Adegbite, Esther O., Ayadi, Folorunso S., and Ayadi, O. Felix. (2008). The impact of Nigeria's external debt on economic development. International Journal of Emerging Markets, 3(3), 285-301.

Amaefule, Everest. (2013, Jul. 22). Nigeria's debt rises to N7.93tn. Punch. Retrieved 3 Nov. 2013 from

Edo, Samson E. (2002). The external debt problem in Africa: A comparative study of Nigeria and Morocco. African… [read more]

Microfinance the New Economic Landscape Research Paper

… Here data has a specific and applied purpose that can be used in a non-profit manner in most cases and demonstrates how cooperation can help raise the wealth and worth of all parties involved.

Wright (2012) argued that big data can ultimately lead to financial inclusion for the neediest around the world. He wrote "the use of big data can actually prove very effective for the fields of microfinance and financial inclusion. we strive to: 1) examine large datasets to find relevant patterns and leverage opportunities, and 2) build tools and systems that use data to enable the poor to improve their quality of life." This is a noble use of big data and demonstrates how MFI's are contributing to the solutions of some of the world's most challenging and questionable problems.

Although microfinance got its start in developing countries overseas, American microfinancial involvement is trending upwards. De Avila (2010) wrote " Funding is a big challenge for all U.S. microlenders and also one of the key reasons why the industry hasn't matched the scale of their counterparts oversees. Most U.S. microlenders rely on donations from banks, foundations and private donors to operate." Big data has played a large role in this growth and success rate.

The era of Big data could bring about new organizational principles and standard operating procedures that will not only affect MFIs but all players in the financial game. Since this is a new practice in the economic world, much improvement can be expected in years and decades to come as the infusion becomes more tightly bound. The use of information cannot be ignored anymore by institutions wishing to stay current in the trends that ultimately dictate the business practices of our society and its incorporation into philanthropy demonstrates how this tool can be used for purposes that transcend market and economic forces.

Issues and Problems With Microfinance's Reliance on Big Data

Unfortunately the collection of big data is sometimes not viewed favorably in the eyes of many critics of the system. Privacy rights are placed at a premium in the argument against big data and its sometimes intrusive approach. It is a very tricky line to walk on all sides and those in leadership positions must be careful to manage this problem in the correct and reasonable manner that takes the entire situation into hand.

Microfinance also has its critics as the failures of this practice are explored in further depth. Karnani (2007) wrote " yet my analysis of the macroeconomic data suggests that although microcredit yields some noneconomic benefits, it does not significantly alleviate poverty. Indeed, in some instances microcredit makes life at the bottom of the pyramid worse. Contrary to the hype about microcredit, the best way to eradicate poverty is to create jobs and to increase worker productivity." This scathing criticism must be taken into account when judging the results of microfinance, but essentially more experimentation needs to be accomplished before determining the true value and worth of these practices.

References… [read more]

Micro Economics: Chapter Summaries Microeconomics Essay

… Summary 'Chapter 8: The Labor Market'

The biggest motivation to work comes from the need to satisfy basic human life requirements like food, shelter, clothing, etc. Humans need money to buy the products and services which they need in their day-to-day life (Hall & Lieberman, 2010). These needs give rise to their willingness to work. As a result, they become a part of the country's labor force. Labor supply refers to the willingness and ability of general people to work for specific time against different compensation (Boyes & Melvin, 2009). Some jobs are high paying while others are too low for a person to live from hand to mouth. If a person prefers to do some other activity or activities instead of work, he has to bear its opportunity cost (Besanko, Braeutigam, & Gibbs, 2011). Opportunity cost is the amount or facility which one has to give up for the sole purpose of availing some other available option (McEachern, 2012). For example, one has to lose his daily wage if he wants to go out to watch live soccer match (Shiller, 2009).

Like other economic phenomenon, labor market also has a specific demand and supply of the labor force. When there is excessive labor available in the country for limited jobs, the wage rates for laborers decreases. On the other hand, if the labor supply is short due to any reason, the wage rate increases. An upward-slopping curve of labor supply says that if there is a labor shortage in the market, the existing laborers have to work additional hours to complete the work. They are only willing to work additional hours if they are paid more than the routine pay (Shiller, 2009).

The market supply of labor is largely affected by the labor demand which is created by the local and international employers (individuals, business entities, non-profit organizations, and governmental institutions) operating in the country. The labor demand created by these employers is solely dependent upon their performance in the industry, e.g. sales, profitability, business expansion strategy, etc. Thus, if a firm performs better in the industry, it tends to hire more individuals and is expected to pay higher wages than other industry participants (Shiller, 2009).

The value of laborers increases when there is shortage of labor in the market. In contrast, their value decreases as employers continue to hire more and more individuals to meet their increasing labor requirements. Marginal physical product (MPP) refers to the change in total output when a single laborer is added to the existing labor force. Marginal revenue product (MRP) is the change which one additional laborer brings in the total revenue (McEachern, 2012).

These changes in output and revenue are largely affected by land and capital (the two most important factors of production) by decreasing the marginal physical product (Boyes & Melvin, 2009; Hall & Lieberman, 2010). This phenomenon is called as diminishing marginal physical product. As the labor supply increases in a market, the marginal physical product of labor decreases (Shiller,… [read more]

Finance Management (Discussion Questions) First Essay

… Firms can address this issue by reinstating the amount into customers' accounts if a firm takes this approach, it must conduct a journal entry to expand accounts receivables and minimize the expense of bad debts. Consequently, this would trigger a reduction in expenses and net income overstatement for the current period. Unless the subsequent reinstatement and the write off occur concurrently, the GAAS matching principle will have been violated (Baker & Powell, 2010).

Third student

Accounts receivable (AR)

When clients buy services or products, often, they do so based on payment terms. This means that they receive the service or product but pay for them later. Usually, this is done on credit terms determined by the company and referred to as accounts receivables. It represents the total amount the clients owe due to a firm exchanging goods in exchange for the promise to pay later. This differs from the debt where a company lends money to another party in return for interest (Brigham & Ehrhardt, 2011).

The importance of managing AR

Managing accounts receivables involves costs. For a firm to maximize its value, it ought to control these costs. Thus, it includes managing opportunity costs, administration expenses and accounts receivables. The importance of managing AR is to control and regulate these costs without eliminating them. Where no credit is granted, costs could be minimized to zero (Salek, 2006).

What affects the ability to control AR and strategies to address issues?

In case a company has many customers with too much money on bills, the overdue restricts working capital and cash flow. This affects the ability to control accounts receivable because it limits the ability of the firm to meet its obligations like loans and accounts payable. Fortunately, a strategy of using computer software helps gather process and organize data in different ways. Therefore, a firm can produce many reports to be used in management insight of financial affairs in various ways that raw data cannot help (Brigham & Ehrhardt, 2011).

Part B

Accounts receivables show the significant percentage of a firm's assets. Because it often represents a notable ratio of a firm's assets, it can be tempted to manipulate its value. Therefore, ethical behavior is critical in maintaining the integrity of a firm's financial statements (Baker & Powell, 2010). This draws companies to adhere to the GAAP rules. Evidently, a firm's accounts receivable asset could be both complex and simple. Its simplicity is shown by the fact that is illuminated on the balance sheet in one control account as one debit figure. Therefore, the asset has one net value demonstrating the balance due to be collected from clients.


Berger, S. (2008). Fundamentals of health care financial management: A practical guide to fiscal issues and activities. San Francisco: Jossey-Bass.

Baker, H.K., & Powell, G.E. (2010). Understanding Financial Management: A Practical Guide. Oxford: Blackwell Pub.

Brigham, E.F., & Ehrhardt, M.C. (2011). Financial management: Theory and practice. Mason, OH: South-Western Cengage Learning.

Salek, J.G. (2006). Accounts Receivable Management Best Practices. Hoboken: John… [read more]

Calculate Touring Enterprises' Weighted Average Research Paper

… 28. The same loan at a 10% rate would cost the consumer $1,610 over the same period. This $400 difference can be monumental for individuals who are experiencing stagnant wage growth. For example, the median household income is $48,000, which… [read more]

Schiller Text Covers Economic Theory Essay

… ¶ … Schiller text covers economic theory vs. economic reality. The chapter starts off by saying that economic theory supposedly tells the government how to keep the economy growing and keep the economy at full employment but that of course… [read more]

Economic Growth. It Starts Off Essay

… ¶ … economic growth. It starts off with discussing how growth typically manifests itself in the short and long-run scenarios that come up. Changes in capacity are obvious in the long run but changes in the USE of capacity are… [read more]

Economic Way of Thinking Always Consists Term Paper

… ¶ … economic way of thinking always consists of winners and losers. Something is gained and something must be lost in an economic transaction. Economic thinking is important when modeling and creating objective thoughts, but may hamper more creative and artistic methods of thinking.

Morality is a very subjective topic and one set of morals do not apply to everyone. Unfortunately in this case, Zwolinski's defense of sweatshops is a very limited view of the world and humanity itself. His narrow minded approach to civilization suggests that he does like himself or the world at large very much, and is obsessed with monetary gain.

I disagree with Boudreaux's take on unintended consequences because the viewpoint of intention is taken from a supply side of economic theory. The minimum wage increase will most likely have surprise consequences, which is a better choice of words to describe this occurance.

Question 4.

Friedman's assessment on language and the importance of understanding key terms within certain arguments is accurate in my opinion. Market failures are dependent upon market successes and it's the evaluator's choice on how to view the issue. Markets fail every time someone is dissatisfied with a product., but at the same time it succeeds because new options become available to the consumer.

Question 5.

Powell is generally correct when describing the political landscape of the current environment of today. Powell assumes that politicians act in accordance with law and order which is not always the case however and the system is much more broke than he assumes. A truly free market will be impossible to maintain without regulation so it is a very difficult task to overcome.

Question 6.…… [read more]

Energy Economics Cost and Benefit Essay

… The capital cost associated with energy economics are; sunk, site specific, site non-specific and fixed. (Rothschild 2008)[footnoteRef:16] [16: Bob Rothschild, "Cost Benefit Analysis." (unpublished lecture., Lancaster University, 2008), Lancaster University, Centre conf 08/rothschild.pdf.]

[footnoteRef:17] [17: Bob Rothschild, "Cost Benefit… [read more]

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