Meiosis vs. Mitosis essays

Meiosis versus Mitosis papers Significant Comparisons Between Meiosis and Mitosis The two procedures of atomic division are comparable as in they permit cells to separate and repeat, however they likewise have numerous distinctions. Meiosis is the sort of atomic division that happens in explicitly recreating living beings. In meiosis, the diploid number of chromosomes is diminished to the haploid number. Gametes have the haploid number, while zygotes have the diploid number. The homologous chromosomes that show up in the zygote resemble the other the same and have a similar length and centromere position, yet the qualities they hold might be for contradicting characteristics. After duplication, the homologues become sister chromatids that are combined at the centromere. Meiosis likewise has two cell divisions, meiosis I and meiosis II. Synapsis happens toward the beginning of meiosis I. The arranging of the homologues brings about a bivalent, two homologous chromosomes that stay together during the underlying periods of meiosis I. After synapsis, the homologous chromosomes discrete and the little girl cells have one duplicate of every sort of chromosome. During meiosis II, the girl chromosomes move to inverse posts, leaving the chromosomes with just a single chromatid each. The principle reason for meiosis is to keep the chromosome number steady a great many ages. Notwithstanding meiosis, the chromosome number would keep on expanding definitely. It likewise guarantees that hereditary recombination will happen. Hereditary recombination causes it so posterity to don't have indistinguishable blend of qualities from their folks. One way this is accomplished is through traverse. Traverse is the procedure of conveyance of the homologues to various girl cells during synapsis. The hereditary directions from a mother and father are blended and the joined chromatids are not, at this point indistinguishable. The other key route for hereditary recombination to happen is through autonomous combination. At the point when homologues adjust at the metaphase plate, the mate ... <!

Working with Federal Reserve's Publications Assignment

Working with Federal Reserve's Publications - Assignment Example Government Reserve’s Assessment of the Current Economic Activity and Financial Markets and their View on Inflation The budgetary emergency is on the ascent around the world. Costs of wares in the business sectors are shooting up and the customers are thinking that its hard to get by in these cruel budgetary circumstances. The money related association, firms and enterprises are thinking that its intolerable to clutch the opposition. In the United States for example, Fannie Mac and Freddie Mac which are government parastatals were put under receivership. Lehman brothers’ possessions and other huge business establishments were either at the skirt of crumbling or they really collapsed. Others were procured by their rivals under unavoidable conditions of insolvency. Huge withdrawals of cash were made by partners and financial specialists which influenced the currency advertise common assets. This sabotaged the strength of transient subsidizing markets and the bank discount financing markets. The strain on budgetary markets has additionally made financial exercises decline. The GDP was accounted for to have gone down at a yearly pace of 6.2 percent in the last quarter of the earlier year however ongoing markers give some slight upgrades. The pace of joblessness moved 7.6 percent .Reacting to disintegration of occupation markets, loss of value, lodging riches and fixing of credit conditions, families cut on their ways of managing money. Purchasing of homes and development of new ones are not getting along nicely at all notwithstanding the way that home loan rates have gone incredibly down. This reflects how our economy is questionable and home costs are probably going to fall even lower. Assembling divisions have additionally disintegrated in their yield bringing its pace of limit usage extremely low. The frail economy has prompted numerous premises cutting their capital consumptions. Organizations have given a valiant effort to diminish the quantity of financial specialists. Deals will stay poor for quite a while and the cut down on creation is to be apparent in the coming months. This was a danger to universal monetary dependability. This anticipated an overwhelming money related breakdown comprehensively. The treasury spared the circumstance by infusing 250 billion dollars in to the U.S.A. money related association. Money related Policy Tools The Federal Reserve Uses To Stabilize The Economy And Maintain Price Stability.â Late a year ago, Federal Reserve reacted forcefully to the weakening of budgetary markets. This was apparent in the manner they kept on facilitating fiscal approach. The Federal Open Market Committee brought its store rates at a low pace of 1/4 percent where it has stayed to date. Making the government finances rates very nearly zero, the Federal Reserve is centered around different manners by which it can ease extreme conditions at the credit markets. They have new offices and have extended existing offices to encourage the progression of credit administrations to its clients. (Money related Policy And The Economy),notes that lower loan costs in the United States will prompt decrease in the trade estimation of the dollar and brief an expansion in cost of imports and decrease in the cost of fares. Sale office was additionally expanded with the goal that banks could get the assets they expected to serve their credit clients better. The FOMC additionally extended its system trading lines with outside national banks to help in settling the worldwide monetary emergency which was currently getting into the financing markets of the U.S.A.

Sidebar Visiting MIT this summer

Sidebar Visiting MIT this summer Timings for Boston-area Info Sessions Tours, Summer 2005 Find below the timings for information sessions and campus tours at MIt other Boston area colleges frequently visited by our guests. All times listed are for the information session, to be followed by a tour, unless otherwise noted. Generally plan that a session/tour combo will last 2 to 2.5 hours. MIT Red Line: Kendall/MIT 10am and 2pm, Monday-Friday Harvard UniversityRed Line: Harvard10am and 2pm, Monday-Friday Tufts UniversityRed Line: Davis9am, 10:30am, 1:30pm, Monday-Friday Boston UniversityGreen Line: Kenmore Square10am and 2pm, Monday-Friday Boston CollegeGreen Line, B Train: Boston College9:30am, 10:30am, 1:00pm, 2:00pm, Monday-Friday Northeastern UniversityGreen Line, E Train: Northeastern9am, 10am, 2pm, 3pm, Monday-Friday** tours hourly 9am-3pm Wellesley CollegeCommuter rail, Framingham/Worcester Line: Wellesley Square(best visited by car)9am and 1pm Monday-Friday* * tours 9am, 10am, 11am, 1pm, 2pm, 3pm Olin CollegeCommuter Rail, Needham Line: Needham Center, then taxi(best visited by car)2pm Monday-Friday** self-guided tour Brandeis UniversityCommuter Rail, Fitchburg Line: Brandeis/Roberts(best visited by car)10:15am and 2:15pm, Monday-Friday** July August additional tours offered prior to Info Session at 9am and 1pm

Benefits Of Gambling And Recreational Consumption - 782 Words

Introduction Casinos nowadays are considered as a strategic component in the development of tourism destinations (Kim, Prideaux Kim, 2002). Casinos purpose is making money at your own risk. It has been determined that casinos are located in through the United States and in global nationwide. Throughout this paper, we will see how that the global industries are competitive and characteristics that make casinos global. Description of Casinos Bloomberg described casinos as an industry that profits from people betting against the odds is looking for more risk takers online and in Asia (Bloomberg). Any time we are betting online or in the casinos, we consider ourselves as risk takers because of taking chances on winning or losing. Peter Mason describes casinos as a place that people legally allows people to engage in activities of gambling and recreational consumption, can also directly and indirectly impacts are somehow tangible and intangible in the host community, in which casino gamblers interact with local environment, economy, and society (Mason, 2003). Competitive Market Leaders in the Casino Industry Penn National Gaming Inc. operates in several states such as West Virginia, Mississippi, Louisiana and Pennsylvania. Penn National Gaming Inc. also operates in the Province of Ontario Canada. All these different places operates in different areas such as slot machines, casinos, riverboat casinos and racetracks. Penn National Gaming Inc. reported unadvisedShow MoreRelatedSociological Imagination1059 Words   |  5 Pagesmajority of people believed there was no ‘drug problem. (Berridge, 1999) The substances used in Britain at the time like opium based cough medicine was commonly accepted in daily life. Sometimes opiates were taken for enjoyment, what we now class as ‘recreational’ drug use. During this era there was no obvious difference between society’s use of drugs for medicinal or pleasurable purposes. Much of peoples’ drug use was used to escape the drudgery of Victorian working class life. However , society was troubledRead MoreShould Marijuana Be Legalized2211 Words   |  9 Pages† it is a campaign that conveys the top ten reasons for legalizing cannabis (High Times,  2012). The 420 Campaign, presents very good arguments that, at this time, can benefit the recovery of the current economy status and assist in important government issues. There are factual studies that show the drug has health benefits and some studies show the harmful side. As a group, Team B has put together a well debatable paper that gives our view points on what we believe or Cons and Pros or advantagesRead MoreThe Relationship Between Hospitality and Tourism Essay1647 Words   |  7 Pagesin hand, the hospitality industry offer services like accommodation, transportation, food and beverage, recreation and leisure. Tourism is the activity by the tourists where they engage in travelling to destinations where they want to experience recreational and leisure activities and most of the time avail s of accommodation, food and beverage. The hospitality industry is the supplier of the services for tourism. The meaning of hospitality is providing a safe and enjoyable environment for patrons.Read MoreThe Various Types Of Rehabilitation2446 Words   |  10 Pageseffective in some populations and settings and others do not (Cunningham, 2016). The various types of rehabilitation that can be used to treat specific types of people will be examined in this essay through specific forms of addiction including drugs, gambling and alcohol. Drugs and Addiction When administered into the body, a drug can lead to psychological or physiological effects. Substances can take many forms including over the counter preparations, illegal drugs (for example, marijuana, cocaineRead MoreArguments of Todays Society5576 Words   |  23 PagesI. Benefits of Legalization Currently most everywhere in the United States, our legal system penalizes prostitutes and their customers for what they do as consenting adults. Money is still spent on law enforcement efforts to catch prostitutes and their customers. Once caught, justice departments have to process these people through very expensive systems. What are the end results? Police personnel and courtrooms are overburdened with these cases, having little or no impact on prostitution. TheRead MoreDeviance and Social Control2641 Words   |  11 Pagesthe social bond is used to help individuals from going toward those attractive deviant acts because of the fear of not belonging. A weak bond between society and an individual may actually push that individual toward a deviant act that he/she can benefit from. As explained by Peter Wickman (2009), â€Å"Deviance is behavior that violates the standards of conduct or expectations of a group or society† (p. 160). There are different degrees of deviance we all experience here in the United States. OnRead MoreThe influence of Individual Visit Scheme Essay1895 Words   |  8 Pagesscheme brought Hong Kong out of economic difficulty. Also the consumption of stable visitors and sustainable growth gave Hong Kong a buffering effect for standing the financial crisis. Thereby decreased the negative influence of financial crisis and kept the stable economy. Moreover Individual visit scheme also bring many opportunities for Macau, especially boost the gaming and entertainment industry. Macau becomes a tourist and recreational center. Negative influence of Individual visit schemeRead MoreCan Addiction Be Classified As A Real Addiction?1932 Words   |  8 Pagesclose relationships. The mean age of onset is 18.7 years, however, sufferers are most likely to seek treatment during their forties and fifties (Kafka, 2010). Common comorbidites associated with sex addiction include other addictive disorders such as gambling and substance abuse (Kaplan Krueger, 2010), major depression, anxiety and ADHD (Bancroft, 2009). Sex Addiction and Drug Based Addictions Sex addiction and drug based addictions are very similar. They are both characterised by a) a loss ofRead More Legalization of Drugs Argument Essay3248 Words   |  13 Pagescreature, is inherently bored. Since the dawn of time, it has been the natural instinct of man to find alternative methods to enhance his being. The many means by which man has turned to include sex, gambling, and the consumption of substances beyond the requirements of nutrition. The consumption of substances can be further broken down into legal and illegal substances. The question then becomes, who are we to place labels on certain substances by deeming them legal and prohibit others by creatingRead MoreSpeech On Alcoholism And Drug Propaganda Essay2268 Words   |  10 PagesLuther, and John Calvin Preached. That alcohol was in fact a gift from God, and was created to be used in moderation for pleasure, enjoyment and in health. From this time to roughly to the 18th century moderation was key, and viewed as a positive recreational pastime. There was a very fine line between having a good time and being out casted as a social pariah. Drunkenness was a sin and a definite threat to ones spiritual salvation. Early Christian leaders taught that there were two types of wine

Emily Brontes Wuthering Heights Essay - 983 Words

Emily Brontes Wuthering Heights 1. What techniques are used in the characterization of Heathcliff? Effects? Heathcliff is associated with evil and darkness from the beginning of the novel. I felt his black eyes withdraw so suspiciously under their brows. (1) When Lockwood sees Heathcliffs garden (perhaps a symbol for Heathcliff) the earth was hard with a black frostÂ…the air made me shiver through every limb. (6) When we see Heathcliff when he is first brought into the Earnshaw household, he is immediately†¦show more content†¦2. Show an understanding of why point of view is a crucial technique to understand in this work. Include an awareness of the ideas in the Carol Jacobs essay Wuthering Heights: At the Threshold of Interpretation. Point of view is an important aspect of every novel. It can be argued that point of view in Wuthering Heights affects the entire story. The novel is told primarily through two narrators. Lockwood, the first narrator, tells events through a distorted perspective. He tries to rationalize anything that happens to him. Lockwood is very optimistic and tries to find a positive interpretation for everything. As Carol Jacob quotes, Dree, and dreary! I reflectedÂ…and not exactly of the kind which I should have chosen to amuse me. But never mind! Ill extract wholesome medicines from Mrs. Deans bitter herbs. To make matters worse, he is vain, he often makes mistakes, it is very hard to trust his narrations and interpretations. The reader may not know the truth about many places in the novel, specifically in the ghost scene Nelly Dean is the other narrator in Wuthering Heights. Her narration also must be judged, not only does she have her own weaknesses as a narrator, but it is also reported in Lockwoods journal. Thus, not only do we have Nellys biases, but we also have Lockwoods interpretation in Nellys narration, (Chinese box). She is a very biased person and this affects the readersShow MoreRelated Emily Brontes Wuthering Heights1668 Words   |  7 Pages Emily Brontes Wuthering Heights Emily Jane Bronte, the author of Wuthering heights, was born on July 30, 1818. She was the fifth of six children of Patrick and Maria Bronte and the family moved to their house in Haworth(where Emily would remain for most of her life), with her family having a great influence on her life and work. During her life she encountered a great deal of death, firstly when her mother died of stomach cancer in September of 1821, leaving EmilysRead MoreEmily Brontes Wuthering Heights783 Words   |  4 PagesEmily Bronte was born in 1818 and published Wuthering Heights in 1847. Wuthering Heights, reflects her experience with both the Romantic Era, which existed from 1785 to 1830, and the Victorian Era, which took place from 1830 to 1848. Romantics placed high importance on the individual, nature and human emotion. The Victorian Era, in turn, was a reaction to the Romantic period. The Victorians had a sense of social responsibility, which set them apart from the Romantics. Wuthering Heights exemplifiesRead MoreEmily Brontes Wuthering Heights1590 Words   |  7 PagesEmily Bronte created a book called Wuthering Heights that was published in 1847. The book has been rejected multiple times by the Victorian readers because of its disturbing, unexplained vision of anarchy and decay (Knoepflmacher). I chose the book Wuthering Heights because it has an interesting name. I never thought the boo k was narrated by two people and that it had a dramatic romance to it. Also I have notice that there is a large amount of hate towards the character Heathcliff due to his actionsRead MoreThe Depth of Emily Brontes Wuthering Heights884 Words   |  4 PagesWuthering Heights was written by Emily Bronte’. It would be the least to say her imagination was quite impressive. Through imagination as a child, Bronte’ and her sisters would write children stories, which inspired some popularly known novels. Wuthering Heights contains crossing genres, changing settings, multiple narrators, and unreliable narrators. George R. R. Martin wrote the book Game of Thrones, which is one of the modern day novels that contain several of Emily Bronte’s writing techniquesRead MoreEssay on Emily Brontes Wuthering Heights1127 Words   |  5 PagesEmily Brontes Wuthering Heights       Often in literature, the fictional written word mimics or mirrors the non-fictional actions of the time. These reflections may be social, historical, biographical, or a combination of these. Through setting, characters, and story line, an author can recreate in linear form on paper some of the abstract concepts and ideas from the world s/he is living in. In the case of Emily Bronte, her novel Wuthering Heights very closely mirrors her own life and the livesRead More Emily Brontes Wuthering Heights Essay1221 Words   |  5 Pages Throughout the novel Wuthering Heights, Emily Brontà « effectively utilizes weather and setting as methods of conveying insight to the reader of the personal feeling of the characters. While staying at Thrushcross Grange, Mr. Lockwood made a visit to meet Mr. Heathcliff for a second time, and the horrible snow storm that he encounters is the first piece of evidence that he should have perceived about Heathcliffs personality. The setting of the moors is one that makes them a very special place forRead More Emily Brontes Wuthering Heights Essay882 Words   |  4 PagesEmily Brontes Wuthering Heights   Ã‚  Ã‚  Ã‚  Ã‚  In Wuthering Heights, we see tragedies follow one by one, most of which are focused around Heathcliff, the antihero of the novel. After the troubled childhood Heathcliff goes through, he becomes embittered towards the world and loses interest in everything but Catherine Earnshaw –his childhood sweetheart whom he had instantly fallen in love with.—and revenge upon anyone who had tried to keep them apart. The novel begins with a few short introductionRead More Emily Bronte’s Wuthering Heights Essay458 Words   |  2 PagesIn Emily Bronte’s Wuthering Heights revenge is a common, reoccurring theme. According to Webster’s Dictionary, revenge is to inflict punishment in return for injury or insult. Within the novel, Wuthering Heights, revenge is an action taken by many people in order to redeem themselves. However, all of the characters end up in misery because of their hearts’ desire to avenge. In many novels, revenge is an action typically taken by the main villain upon the main hero. Revenge occurs often in bothRead More Emily Brontes Wuthering Heights Essay2291 Words   |  10 PagesEmily Brontes Wuthering Heights The female writer Emily Bronte wrote the novel Wuthering Heights in 1847. Brontes father had influenced Emily with his well-known poetry and imagination. Brontes childhood could have also played a part in writing her novel as she used to live in the moors herself before her mother died. The North Yorkshire moors where Wuthering Heights is set is a bleak, desolate and solitary place. The area was very inaccessible and it would have taken days toRead MoreFeminist Ideas in Emily Brontes Wuthering Heights2400 Words   |  10 Pageslife as well as attract readers to identify themselves to the characters presented.’ (Online 1) One of the most prominent female writers in 19th century was Emily Brontà « with her novel Wuthering Heights. This essay will concentrate on the representation of feminism by the use of women characters in Emily Brontà «Ã¢â‚¬â„¢s Wuthering Heights, namely Catherine Earnshaw, Catherine Linton (Cathy), Nelly Dean and Isabella Linton. Each of these characters illustrates the power possessed by women, the hopes

Bus405 Final Project Free Essays

string(224) " heavy emphasis on small-capitalization stocks or growth stocks with relatively high market valuations; holdings of international stocks or bonds, which are subject to price declines caused by changes in the value of the U\." Final Project Ashford University Trena Mealor Dr. James Prentice August 27, 2012 ? Final Project Investing in the total stock market allows an investor to capture the return of the stock market while at the same time diversifying an investment portfolio. The easiest way to build a total stock market portfolio is with a mutual fund or an exchange traded fund. We will write a custom essay sample on Bus405 Final Project or any similar topic only for you Order Now This particular portfolio is diversified with Vanguard ETF’s that were carefully chosen to seek the highest return with moderately aggressive to aggressive risk strategy. The investment strategy associated with this portfolio is short-term with an aggressive attitude of â€Å"more risk more reward†. 7/24 priceInvestment Amount# of Shares8/13 priceValue Vanguard Consumer Discretionary ETF – (VCR)67. 8910000147. 2970971. 7410567. 0932 Vanguard Financial ETF – (VFH)30. 2510000330. 578531. 5810439. 6690 Vanguard Growth ETF – (VUG)66. 9110000149. 454570. 4810533. 5531 Vanguard Information Technology ETF – (VGT)66. 9310000149. 409871. 7710723. 1413 Vanguard Intermediate-Term Corporate Bond ETF – (VGIT)86. 9410000115. 154386. 579968. 9077 50,00052232. 36 Exchange Traded Funds, also known as ETFs, are mini-portfolios of securities and derivatives that track an asset like an index and/or commodity. When creating a portfolio, it is important to note that there is a difference between diversifiable risk and market risk. According to Elton (1977), diversifiable risk may be caused by random events that are particular to an individual firm. Since these events are random, the influence of events, such as a lawsuit or strike can be almost eliminated via diversification. However, diversification cannot entirely eliminate market risk. Market risk ffects most firms. Examples of market risk include war, recessions and high interest rates. By researching the portfolio funds, the investor can gain an understanding of risk and how it fits into diversification. A single stock has more risk of not creating a positive return than a stock portfolio. In a market dominated by risk-averse investors, riskier securities must have higher expected returns Ross , Westerfield Jordan (1993) indicates, the principle of diversification tells us that the spreading of an investment across a number of assets will eliminate some but not all the risk. Unsystematic risk is essentially eliminated by diversification, so a relatively large portfolio has almost no unsystematic risk. Ong (1982) mentions that diversification can reduce the overall portfolio risk. However, the possibility for the risk reduction depends on the correlation coefficient and the proportion of the total funds invested in each. According to Jordan, etal (2012), the benchmark for a well-diversified portfolio would be a portfolio of all stocks in the market. Relevant market risk of the stocks within the portfolio is calculated using a beta coefficient. Accordingly, a stock with a high beta will bring a lot of risk to the portfolio. The authors further explain, as you calculate the beta for various stocks, you may begin to see groupings of low, average and high beta risk. Beta measures the stock’s risk relative to the stock market average. Calculate the weighted average of these groupings, and you will discover the market risk for the entire portfolio. A â€Å"low† beta is generally 1. 0 or below. The average beta is 1. 00 and assets with a beta greater than 1. 00 have more than average systematic risk. Rosenberg and Guy (1995) further explain the importance of beta as the value of beta measures the expected response to market returns and because the vast majority of returns in diversified portfolios can be explained by their response to the market, an accurate prediction of beta is the most important single element in predicting the future behavior of a portfolio. To the degree that one believes that one can forecast the future direction of market movement, a forecast of beta, by predicting the degree of response to that movement, provides a prediction of the resultant portfolio return. To the degree that one is uncertain about the future movement of the market, the forecast of beta, by determining one’s exposure to that uncertainty, provides a prediction of portfolio risk. We begin with the first description of the portfolio. Unlike mutual funds or index baskets, the investor does not have to make multiple transactions in order to achieve a market price. With ETFs it’s one trade, one price. The first fund in this portfolio is Vanguard Consumer Discretionary ETF. From July 24, 2012 to August 13, 2012 the value has risen from $67. 9 to $71. 14. The annual investment returns of this ETF are: Annual investment returns as of 12/31/2011 (Vanguard, 2012) Year EndedVanguard Consumer Discretionary ETFSpliced US IMI Consumer Discr 25/50* Capital Return by NAVIncome Return by NAVTotal Return by NAVTotal Return by Market PriceTotal Return 20112. 28%1. 42%3. 71%3. 70%3. 83% 201029. 30%1. 27%30. 57%30. 62%30. 87% The Vanguard Consumer Discretionary ETF is generatin g 0. 16% of daily returns assuming volatility of 0. 71% on return distribution over 30 days investment horizon. MERGENT online indicates, the one month beta on this investment is 1. 03. This EFT includes stocks of companies that manufacture products and provide services that consumers purchase on a discretionary basis. The following risks are associated with this type of ETF: Stock market risk, Sector risk, Non-diversification and Investment style risk (Vanguard, 2012). Vanguard Consumer Discretionary ETF fund’s manufacturing segment includes the following industries: automotive, household durable goods, textiles and apparel, and leisure equipment. The services segment includes hotels, restaurants and other leisure facilities, media production and services, and consumer retailing. The next fund in this portfolio is Vanguard Financial ETF, which includes stocks of companies that provide financial services. The investment has a one month beta of 0. 73 which indicates that the investment is 73% less risky than the average. This ETF fund is classified as aggressive is subject to extremely wide fluctuations in share prices. The unusually high volatility associated with these funds may stem from one or more of the following strategies: a concentration of fund holdings in a relatively low number of individual stocks, or in a particular sector of the stock market, or in a particular geographical region of the world; a heavy emphasis on small-capitalization stocks or growth stocks with relatively high market valuations; holdings of international stocks or bonds, which are subject to price declines caused by changes in the value of the U. You read "Bus405 Final Project" in category "Papers" S. ollar against foreign currencies; or investments in bonds that have exceptionally long average durations, whose prices are highly sensitive to changes in interest rates. According to the Wall Street Journal online, the annual investment returns of this ETF: Annual investment returns as of 12/31/2011 (Vanguard, 2012): Year EndedVanguard Financials ETFSpliced US IMI Consumer Discr 25/50* Capital Return by NAVIncome Retur n by NAVTotal Return by NAVTotal Return by Market PriceTotal Return 2011-16. 04%1. 69%-14. 35%-14. 35%-14. 24% 201013. 15%1. 58%14. 74%14. 77%14. 7% Vanguard Financials ETF seeks to track the investment performance of the MSCI US Investable Market Financials 25/50 Index, a benchmark of large-, mid-, and small-cap U. S. stocks in the financials sector, as classified under the Global Industry Classification Standard (GICS). This GICS sector is made up of companies involved in activities such as banking, mortgage finance, consumer finance, specialized finance, investment banking and brokerage, asset management and custody, corporate lending, insurance, financial investment, and real estate (including REITs). The next ETF in this portfolio is the Moderately-Aggressive Vanguard Growth ETF with a closing price of $66. 91 on July 24, 2012 and an ending close of $70. 48 on August 13, 2012. The one month beta on this investment is 0. 99 with a positive strong direction. Annual investment returns as of 12/31/2011 (Vanguard, 2012): Year EndedVanguard Growth ETFMSCI US Prime Market Growth Index* Capital Return by NAVIncome Return by NAVTotal Return by NAVTotal Return by Market PriceTotal Return 20110. 0%1. 27%1. 87%1. 84%1. 96% 201015. 66%1. 46%17. 11%17. 15%17. 23% An investment in this the fund could lose money over short or even long periods. The investor should expect the fund’s share price and total return to fluctuate within a wide range, like the fluctuations of the overall stock market. Vanguard funds classified as moderate to aggressive are broadly diversified but are subject to wide fluctuations in share price because they hold virtually all of their assets in common stocks. In general, such funds are appropriate for investors who have a long-term investment horizon (ten years or longer), who are seeking growth in capital as a primary objective, and who are prepared to endure the sharp and sometimes prolonged declines in share prices that occur from time to time in the stock market. This price volatility is the trade-off for the potentially high returns that common stocks can provide. The level of current income produced by funds in this category ranges from moderate to very low. The type of risks associated with this investment is: stock market risk and investment style risk. The chance that stock prices overall will decline. Stock markets tend to move in cycles, with periods of rising stock prices and periods of falling stock prices. The fund’s target index may, at times, become focused in stocks of a particular sector, category, or group of companies. Because the fund seeks to track its target index, the fund may underperform the overall stock market. The chance that returns from large-capitalization growth stocks will trail returns from the overall stock market. Large-cap stocks tend to go through cycles of doing better—or worse—than other segments of the stock market or the stock market in general. These periods have, in the past, lasted for as long as several years. The next investment in the portfolio is Vanguard information technology ETF. This ETF seeks to track the performance of a benchmark index that measures the investment return of stocks in the information technology sector. With a one month beta of 1. 1, this fund is passively managed, using a full-replication strategy when possible and a sampling strategy if regulatory constraints dictate. Includes stocks of companies that serve the electronics and computer industries or that manufacture products based on the latest applied science. The risk potential for this fund is aggressive, more risk more reward. Annual investment returns as of 12/31/2011 (Vanguard, 2012) Year EndedVanguard Information Technology ETFMSCI US Prime Market Growth Index* Capital Return by NAVIncome Return by NAVTotal Return by NAVTotal Return by Market PriceTotal Return 2011-0. 28%0. 80%0. 52%0. 53%0. 66% 201012. 08%0. 66%12. 74%12. 67%12. 99% Vanguard Information Technology ETF is made up of companies in the following three general areas: technology software and services, including companies that primarily develop software in various fields (such as the Internet, applications, systems, databases, management, and/or home entertainment), and companies that provide information technology consulting and services, data processing, and outsourced services; technology hardware and equipment, including manufacturers and distributors of communications equipment, computers and peripherals, electronic equipment, and related instruments; and semiconductors and semiconductor equipment manufacturers. Vanguard Intermediate-Term Corporate Bond ETF which seeks to provide a moderate and sustainable level of current income. Invests primarily in high-quality (investment-grade) corporate bonds. Moderate interest rate risk, with a dollar-weighted average maturity of 5 to 10 years. Vanguard Intermediate-Term Corporate Bond ETF seeks to track the performance of a market-weighted corporate bond index with an intermediate-term dollar-weighted average maturity. The fund invests by sampling the index, meaning that it holds a range of securities that, in the aggregate, approximates the full index in terms of key risk factors and other characteristics. Annual investment returns as of 12/31/2011 (Vanguard, 2012) Year EndedVanguard Intermediate-Term Corporate Bond ETFMSCI US Prime Market Growth Index* Capital Return by NAVIncome Return by NAVTotal Return by NAVTotal Return by Market PriceTotal Return 20113. 77%4. 17%7. 94%8. 97%8. 03% 20106. 16%4. 48%10. 65%9. 88%10. 80% All of the fund’s investments will be selected through the sampling process and at least 80% of the fund’s assets will be invested in bonds included in the index. The fund maintains a dollar-weighted average maturity consistent with that of the index. An investment in the fund could lose money over short or even long periods. The fund’s performance could be hurt by: Interest rate risk: The chance that bond prices overall will decline because of rising interest rates. Interest rate risk should be moderate for the fund because it invests primarily in intermediate-term bonds, whose prices are less sensitive to interest rate changes than are the prices of long-term bonds. Income risk: The chance that the fund’s income will decline because of falling interest rates. Credit risk: The chance that a bond issuer will fail to pay interest and principal in a timely manner, or that negative perceptions of the issuer’s ability to make such payments will cause the price of that bond to decline. Index sampling risk: The chance that the securities selected for the fund, in the aggregate, will not provide investment performance matching that of the index. Index sampling risk for the fund should be low. Annual investment returns as of 12/31/2011 (Vanguard, 2012) Year EndedVanguard Intermediate-Term Corporate Bond ETFMSCI US Prime Market Growth Index* Capital Return by NAVIncome Return by NAVTotal Return by NAVTotal Return by Market PriceTotal Return 20113. 77%4. 17%7. 94%8. 97%8. 03% 20106. 16%4. 48%10. 65%9. 88%10. 80% ETFs combine the advantages of both index funds and stocks. They are liquid, easy to use and can be traded in any quantity just like stocks. At the same time an ETF provides the diversification, market coverage and low expenses of an index fund. These characteristics combine to create an investment tool that provides investors with the broad exposure they require, at the level they want; at the moment they need it. As such, they are fast gaining a reputation as an innovative investment solution – a claim greatly supported by the accelerated growth in ETFs. Reference Elton, E, Gruber, M. (1977), Risk, reduction and portfolio size: an analytical solution. Journal of Business. Vol. 50, 415-437. Hope-Bell, E. (2008). Focus on: Index investing – exchange traded funds – an innovative investment solution. Professional Wealth Management, , 1-n/a. Retrieved from http://search. proquest. com/docview/205081570? accountid=32521 Jordan, B. , Miller, T. , Dolvin, S. (2012). Fundamentals of investments, valuation andmanagement (6th ed. ). New York, NY: McGraw-Hill. MERGENT Online. Retrieved from http://www. mergentonline. com/companydetail. php? pagetype=highlightscompnumber=116548 Ong, Poh Wah (1982). Measuring the expected return and risk of combining several shares in an investment portfolio. Securities Industry Review. Vol. 8, No I, 6-16. Rosenberg, B. , Guy, J. (1995). Prediction of beta from investment fundamentals. Financial Analysts Journal, 51(1), 101-101. Retrieved from http://search. proquest. com/docview/219118485? accountid=32521 Ross, S. , Westerfield, W. , Jordan, B. (1993). Fundamentals of corporate finance, 2nd ed. , Richard D. Irwin, Inc. https://personal. vanguard. com/us/home Vanguard (2012). Retrieved from https://personal. vanguard. com/us/home Wall Street Journal online. (2012). Retrieved from http://online. wsj. com/home-page How to cite Bus405 Final Project, Papers

To What Extent Is There a Democratic Deficit in the Uk free essay sample

The most telling indicator of there being a democratic deficit in the UK today is the continuing decline of voter turnout at all elections for the past 60 years. There is a growing level of general apathy towards political issues in the UK which is not just damaging to the health of a democracy but fatal. The government requires a mandate to govern, if they do not achieve popular consent then how are they representative of the people? The last three general elections have yielded voter turnout of around 60 – 65% of the electorate, leaving a significant proportion of people who chose not to exercise their democratic right to vote. At the European Parliament elections turnout has been far lower with the last three elections yielding 24 – 39% of voters turning up to cast their ballot. The recent Police Crime Commissioner (PCC) elections have produced the lowest ever turnouts in the UK with just 14. 9%. The Prime Minister said that the PCC’s have a mandate; although it was only the turnout that was 14. % so many PCC’s will be governing with less than 10% of the vote. This incredibly low turnout illustrates just how apathetic people have become in regards to British politics, but there is also the matter of spoiled ballot papers. The total number of votes was 344,213 (excluding spoilt ballots) with the number of spoiled votes standing at more than 120,000. That means over a quarter of people who turned up to the polling stations did so for the sole purpose of spoiling the paper. The fact that people would take time out of their lives specifically to undermine the democratic process shows just how much of a democratic deficit exists in the UK. People have become so disillusioned with traditional democracy in the UK they resort to methods such as spoiling the ballot paper to tell the government that the people will not stand for it, that voting doesn’t work, that all politicians are in it for themselves. The 2009 Parliamentary expenses scandal shocked voters with the scale of MP’s dishonesty with taxpayer’s money. Those in power felt that they were beyond reproach and despite the sudden change of heart many MP’s had over claiming expenses when the scandal came to light there are still those today that claim in excess of ? 60,000 per year. The mainstream political parties do not represent the views of many and the small parties that do will never gain power under the unfair FPTP system. People have resorted to campaigns such as the worldwide occupy movement that gained mass media coverage with their camp outside St. Paul’s Cathedral, or the vigilante hacker group Anonymous who attack what they perceive to be unjust areas of the government. It is not just a minority of extremists who are partaking in these activities; their members are those who have been pushed to the side lines by the vast democratic deficit in the UK which has forced the common man without a voice to shout at the government via unorthodox and sometimes illegal means. Of course we mustn’t forget that not everyone can vote in the British system of democracy. The Justice Secretary Chris Grayling holds the view of many in his party and others across the political spectrum over the debate on whether or not to extend the franchise to all. He told his fellow MP’s that they had the power to â€Å"legislate contrary to fundamental principles of human rights†. The right to vote is absolutely essential to any democracy and yet the government fears what would happen if they finally gave the right to vote to all in the UK. One of the harsh realities of the criminal justice system is that miscarriages of justice are an everyday occurrence. Yearly over 770 convictions are overturned in the court of appeal and nearly 3,500 convictions quashed when the case proceeds from a magistrate court to a crown court. This shows just how broken the system is, and as well as being a human right giving prisoners the vote would help the government to get a better perspective on how to reform prisons to reform inmates. Membership of political parties has plummeted over the past 60 odd years and now just 1% of the population are members of a political party. This runs parallel with less people turning out to vote, it is plain that people do not want to get involved with political parties anymore. It is not that they no longer care about governance but that they feel that the system does not work for them and that it also does not allow reform to allow it to change into a free and fair way true democracy. The increased use of referendums in the UK can be hailed as a way of helping to combat the democratic deficit by giving power directly to the people on a single highly important issue. There have however only been 2 UK – wide referendums which shows that on matters of national importance the government is not quite as keen to hear everyone’s point of view. The electorate is rarely consulted directly via the use of referendums as opposed to more democratic countries such as Switzerland. On the rare occasion the government concedes and allow the voters a direct say, if they chose to do so they could ignore the result as referendums are not legally binding. Power rests with Parliament and although in theory our MP’s represent their constituents’ views the government is free to pursue its own agenda once it is in power. In the AV referendum of 2011 implementation of a voting system of proportional representation was rejected. The â€Å"No† campaign was fought using a mixture of scare tactics and lies and active participation in the vote was not readily encouraged by either of the two most powerful political parties as they would stand to lose a lot under a fairer voting system. The current system of FPTP ensures that an MP can be elected without a majority of votes which is highly undemocratic. Another undemocratic feature of British democracy that is having the status quo maintained is the unelected House of Lords. Only two countries in the world allow hereditary politicians – Lesotho and the United Kingdom. The elected representatives in the commons voted against further reform of the House of Lords despite polls continuously showing support for greater reform. From just this one example can it be said that MP’s are truly representing the people they are supposed to? It is possible that a significantly contributing factor of this democratic deficit is the lack of political education available. The average layman does not have time to thoroughly research political issues and will get their only political news from the Metro or Evening Standard, and if the Leveson report is implemented in full it would not be a far cry to the press no longer being free. The government should be spending a great amount of effort into educating the populace on political issues as â€Å"the ignorance of one voter in a democracy impairs the security of us all†. Whether intentionally or not by raising tuition fees to an inaccessible level the government has succeeded in preventing thousands of disadvantaged, but educated, students who would clamour for reform. Michael Gove has now changed the curriculum to allow citizenship lessons to be optional, thus removing all chances of political education whilst in compulsory schooling. Supporters of the UK as a thriving democracy would point to things such as devolution to say that the government is trying to be democratic and open. The devolved assemblies even use PR instead of FPTP and they give power to people locally. It is the same problem as with referendums, whatever the assemblies pass is not binding. Westminster grants power to these devolved areas whilst retaining the right to veto their decisions. If a government so wished they could abolish the devolved assemblies completely. Devolution is just another one of the way the government tries to appear democratic while not promoting democracy. Freedom of Information Requests (FOI) are in principle a brilliant thing as they promote transparency and accountability of the government and local authorities, but as with so many things they do not work in practice as they do in principle. In 2011 over 10,500 FOI requests were refused, so once again power remains firmly in the hands of those who hold it rather than the people. The government is only open about the things it wants to be, it still reserves the right to keep quiet. The democratic deficit is very real and present in the UK and it is greatly affecting democracy in this country. Unless the issues which are causing this deficit are directly addressed and soon this country could very easily turn into a â€Å"democratic dictatorship† although in many ways it already is with the sweeping powers the PM has or the lack of true accountability at all levels of government. A majority of people are disillusioned not with democracy but with the archaic British political system and this disillusionment could lead from the spoiling of ballot papers to something much more serious such as civil unrest as demonstrated by the nationwide riots last year.