Academic Performance and Personal Growth and Development Essay

Scholarly Performance and Personal Growth and Development - Essay Example The reason and objective of any instructive establishment are to present and introduce a lot of information and abilities to the understudies and along with the guardians and additionally gatekeepers go about as the overseers of self-improvement through finding and sustaining gifts. Given training organizations will have understudies from all financial, social and social partitions; understudies capable in an unexpected way, with alternate points of view on the instruction and learning frameworks and with various post-school yearnings, and it’s crafted by the establishment and applicable partners (Joyce, 2011) to coordinate these attributes to assist them with accomplishing most extreme in school life. These understudies may unequivocally or potentially verifiably portray or grandstand their qualities in that some are truly dynamic in both the scholastic and additional educational program exercises while others might be detached in any of them or both (Rayner and Cools, 2011). This will in one manner or the other impact their scholastic execution and self-improvement and advancement both at the school and after school which is comparative however unique somewhat and this paper looks to differentiate the scholarly presentation, initiative/authoritative jobs and post-school lives of dynamic and uninvolved understudies. Aside from guaranteeing understudies intellectually comprehend the topic; foundations are additionally intrigued to guarantee that graduates can make great pioneers, an ascribed supported inside the organization. Dynamic understudies tend are engaged with positions of authority to a more prominent degree than the inactive understudies however relatively need managerial abilities; a factor that can be credited to judiciousness and discernments between these understudies (Scherer, 2010).

Alexander The Great Essays - Free Essays, Term Papers

Alexander The Great Essays - Free Essays, Term Papers Alexander The Great Alexander the Great and His Achievements Alexander the Great was the ruler of Macedon. Alexander of Macedon, or antiquated Mecadonia, has the right to be known as the Great. Alexander the Great was viewed as one of the best military prodigies everything being equal. He was an incredible ruler, general, and vanquisher. During his thirteen-year rule he vanquished practically all the then known world and provided another guidance to history. He had built up a realm after he kicked the bucket. His new domain helped numerous individuals live their lives. He improved the lifestyle in his realm from multiple points of view. Vanquishing different grounds spread the Greek conventions and language. Alexander the Great was conceived in Pella, the antiquated capital of Macedon (Martin 192). He was the child of Philip II and Olympias. Philip II was the lord of Macedonia and Olympias was the princess of Epirus (Stewart 18). Alexander had numerous interests in military techniques (Stewart 20). When Alexander was around seven years of age, a gathering of Persian ambassadors came to Macedon to see Philip. Philip was with his military battling neighboring clans so the representatives stayed and chatted with Alexander. They didn't with the exception of Alexander to pose inquiries about the size of the Persian armed force and the length of the excursion to Susa (a significant city in Persia). This shows one of Alexander's initial advantages (Stewart 21). Philip chose to purchase Alexander a racehorse when Alexander was ten or eleven years of age. The pony was named Bucephalas. Bucephalas' conduct didn't satisfy Philip. Philip requested the pony's proprietor to remove the pony however Alexander pronounced that he could tame the pony (Stewart 21). Everybody praised when they saw Alexander ride the pony. The remainder of the organization broke into adulation, composes Plutarch, while his dad, we are told, sobbed for delight, and when Alexander had gotten off he kissed him and stated, 'My kid, you should discover a realm large enough for your aspirations. Macedon is unreasonably little for you' (Stewart 22). Alexander required more than horsemanship and self-assurance to be a decent ruler. He required order. Philip stressed that Olympias ruined the kid excessively. For Alexander to become familiar with those things, Philip enlists a harsh and an intense guide to instruct Alexander. His name is Leonidas. He observed Alexander's suppers and activities. Leonidas didn't confide in Olympias. He speculated she attempted to pirate additional food in Alexander's walking gear. The man [Leonidas] himself used to come and glance through my bedding boxes and garments chests, Alexander composed, to see my mom didn't conceal any extravagances (Stewart 22). Philip realized that Alexander required additionally preparing. Philip sent for an educator who was presumably the most shrewd man in the entirety of Greece. His name was Aristotle. Aristotle was conceived in a little township of Stagira in northern Greece (Barnes 3). Aristotle was a Greek logician and researcher. He is viewed as the most popular old scholars (Barnes 3). At the point when Aristotle was seventeen years of age he moved to Athens, where he turned into an individual from Plato's school. He remained at Plato's foundation for a long time. Aristotle left the Academy when Plato kicked the bucket. Aristotle established his own casual philosophical school in Athens. Aristotle addressed on about each part of learning: science, medication, life structures, brain research, meteorology, material science, science, arithmetic, music, power, talk, political theory, morals, and artistic analysis. Aristotle characterized and arranged different parts of information. He arranged them into material science, brain research, talk, verse, and rationale. He established the framework of the greater part of the studies of today. He gathered the principal extraordinary libr ary and built up a historical center (Martin 182). In 342 B.C. Philip welcomed Aristotle to show his thirteen-year-old child Alexander. Aristotle's principle love was reasoning. Alexander and Aristotle's conversation about way of thinking established the framework for Alexander's thoughts of what it intended to be a fighter and a lord. Alexander gained from Aristotle the standards of zoology and plant science. Alexander delighted in writing generally out of the considerable number of exercises Aristotle educated. Aristotle acquainted the kid with the best artists and essayists (Stewart 22-23). Alexander cherished crafted by Homer. The Illiad was Alexander's top choice. The stories of experience, love, dauntlessness, and faithfulness energized Alexander. Aristotle gave Alexander a duplicate of the sonnet. Alexander conveyed the book all over and put it under his

Price and Rubbermaid

Abdul Javeed Sociology 300 February 14, 2010 Wal-Mart examination Wal-Mart can be broke down utilizing both Structural Function and Social Conflict hypothesis. Auxiliary capacity hypothesis accepts that society is a mind boggling arrangement of interconnected and interrelated social structures each having a capacity and cooperating to advance social soundness. There is an innate propensity to adjust and balance. The accompanying three focuses characterize why Wal-Mart can be investigated utilizing Structural capacity hypothesis: They keep their costs low however make benefits on high volume and quick turnover. Wal-Mart is generally respected for its notoriety in cost cutting and low costs. Wal-Mart is known to have low and modest costs for their items. It stops the need to go search for a deal at different stores since we realize that we won’t locate a superior arrangement somewhere else. Along these lines we set aside cash as well as time and gas as well. Driving around to various stores to purchase all the items is time and gas devouring. Ease imports from Asia were fundamental segments for Wal-Mart’s low opening value point methodology. Social Conflict hypothesis accepts that society isn't coordinated however brimming with inconsistent divisions. It has rare and restricted social assets PWP. It is in consistent rivalry for them and strife Is the outcome. In this way the rising social structures advantage some in acquiring or holding PWP to the detriment of others. The accompanying three focuses characterize why Wal-Mart can likewise be examined utilizing Social Conflict hypothesis: America’s most popular brand Rubbermaid, creator of plastic compartments, trash containers was practically in each home somehow. Rubbermaid provided to enormous chains like Wal-Mart. Rubbermaid was attempting to keep up its aspiring development targets. At that point abruptly the material expense for Rubbermaid expanded and henceforth they needed to build the cost of their items. A few retailers concurred with the cost increment yet Wal-Mart didn't. So it was the primary indications of decays for Rubbermaid. Wal-Mart pullback was a hit to Rubbermaid and later its plant shut. Near 1000 positions were lost at Rubbermaid. Rubbermaid with its notoriety of value was generally respected. Wal-Mart with its notoriety for cost cutting was generally respected. Henceforth Wal-Mart utilized its PWP to control Rubbermaid and by implication let it shutdown. It had control over Rubbermaid and constrained it to bring down its expenses. Rubbermaid couldn’t do it thus Wal-Mart quit working with them, thus Rubbermaid shutdown. Wal-Mart utilized its PWP and by this a pleased American Company was shutdown and many lost positions. Effect of Chinese fare blast has been felt all over USA. Wal-Mart utilized it PWP to in a roundabout way shutdown an organization called Thomson Consumer Electronics which was an American Television Manufacturer. Thomson expressed to see a sharp remote rivalry; they saw Chinese items being sold at a value that most American makers couldn’t produce at. Five gadgets sued the Chinese TV producer yet was paralyzed to see that Wal-Marttook the side of Chinese maker. Be that as it may, Thomson plant shutdown and parcel of individuals lost their positions because of Chinese rivalry. Wal-Mart utilized its PWP and was getting modest Chinese imports thus caused American maker difficult to keep in rivalry.

The Tax-ability Essay Example - Free Essay Example

List of abbreviations Co. Ed. IT ACT ITO Company Edition Income Tax Act Objective In this paper an attempt is made to analyze the law on taxability of turnkey contracts. An attempt has been made to analyze to what extent income is taxable in turnkey contract. An approach has been taken in this paper to study the statutory provision and different case laws regarding the taxability of turnkey contract and what is the current situation of law on imposing the tax liability. Research Methodology The nature of the project is purely doctrinal/ non-empirical. It is purely based on the data collected from books, statutes, journals, case laws and web resources. It is a literature review. The researcher has relied upon the primary as well on secondary sources. In the paper researcher has followed the uniform mode of citation. Scope of the Paper The scope of the research paper is limited to analyze the law and legislation on the taxability of turnkey contracts and what is the role played by the judicial pronouncement in deciding the cases on taxability of turnkey contracts. In this research an attempt has been made to analyze the statutory provision as well as judicial pronouncements delivered regarding the taxability of turnkey contract. The analysis can further help in locating the lacunas in the present law and how it can overcome by strengthening and regulating the prospective laws. The scope of paper is limited to laws releted to taxability of turnkey contracts. INTRODUCTION In todayà ¢Ã¢â€š ¬Ã¢â€ž ¢s world infrastructure is considered as one of the leading factors for development. The Indian government has desire to make India as an upcoming superpower country for which they have been escalating their investment on enhancing the infrastructure of the country as it will help in its progress and development.[1] Because of the scale of the infrastructure projects and the complexities included, regularly these projects welcome tender from the whole way across the globe, the agreement signed with these companies are known as EPC contracts furthermore referred to as turnkey contracts. [2] A turnkey contract is a business plan in which a project is conveyed in a finished state. Rather than contracting with an owner to create a project in stages, the developer is enlisted to complete the whole project without owner information. The builder or developer is independent from the final owner or operator, and the project is turned over just once it is completely operational. Essentially, the developer is completing the project and turning the key over to the new owner. This sort of arrangement is normally utilized for construction projects extending from single structures to expansive scale developments. Because of the multifaceted nature of these projects it is certainly unrealistic for any one single commercial element to attempt the entire project, subsequently these projects are taken up by a consortium of different companies who handle diverse parts of the project as per their respective expertise.[3] Initially, these turnkey projects did not hold the tax liability but with the change in circumstances the finance ministry in its finance billà ¢Ã¢â€š ¬Ã¢â€ž ¢06 has made these turnkey contracts tax liable. Prior the rendering of offshore services for an turnkey project and offshore supply of equipments and material for the project are considered to be the main bone of contention regarding the taxability of these projects[4], but afte r the amendment to section 9 of the Income Tax Act, offshore services have been made taxable and the law has been pretty much settled on this issue,[5] however the taxability of offshore supply of equipment and material under the turnkey projects is still an argumentative issue. Turnkey contract would bring about a few particularly identifiable streams of income to the contractor which include the following: Offshore supplies of equipment and material Offshore services Onshore supplies of equipment and materials Onshore supplies of servives Research question What is the extent of taxability of offshore supplies of equipment and materials and offshore sevives under turnkey contracts and the role of by judicial pronouncements in establishing law related to such turnkey contracts? Taxability of offshore supplies of equipment and materials To impose taxability on offshore supplies of equipment and materials, it has to be shown that the non- resident has permanent establishment and business connection. If there is no business connection or permanent establishment then there would be no tax liability. But, if there is business connection or permanent establishment then the tax can be imposed on the profit that is attributed to such business connection and permanent establishment. Statutory Provision For non-residents, section 5 of the Income Tax Act is the charging section for their income.[6] Section 5(2) of Income Tax Act impose tax on the income of non-residents which is received or deemed to be received in India by or on behalf of such person[7] or accrues or arise or is deemed to be arise.[8] Section 9 of Income Tax Act deals with income deemed to accrue or arise in India. Section 9 states that all income accruing or arising through or from any business connectionin should be considered as taxable in India.[9] The explanation clause attached to it points out the extent of income to be taxed by stating that only such part of income that is attributable to the business carried out in India woul be taxable.[10] Therefore, it is clearly mentioned in the statutory provision that in case of offshore supplies, income which is not attributable to the operations carried out in India would not be taxed. Taxability of offshore services The taxability of offshore services is no more a bone of contention as after the amendment to section 9 of IT Act[11] these services have been made taxable. Case laws Ishikawajna-Harima Heavy Industries Ltd. V. Direct of Income Tax In Ishikawajna- Harima Heavy Industies Ltd. v. Direct of Income Tax[12], it is Japan based company engaged in the business ofengineering and construction of storage tanks. The company formed a consortium with other companies and entered into an agreement with Petro LNG Ltd.situated in the state of Gujrat to set up liquefied Natural Gas storage tank and for degasification facility. It is a turnkey contract. Each member of consortium was specified about their separate role and responsibility and therefore, they receive separate payment. The time period for the project was 41 months. The question that arised in this case whether the company is liable to pay tax in India under Income Tax Act and India- Japan Tax Treaty. Therefore, the company filed an application before Authority for Advance Appellant. The decision of Supreme Court is given in two parts one for the offshore supplies and other for the offshore services. The Apex Court held the following decision ; à ¢Ã¢â€š ¬Ã…“ on ly such part of the income which is attributed to the operations carried out in India can be taxed. Under the turnkey contracts, if all the transaction were operated outside India then these transactions cannot be taxed in India. It made the distinction between the permanent establishment and business connection. Existence of permanent establishment is a taxable entity but its presence does not create sufficient business connection. Therefore the profit attributable to the permanent establishment in India would be made taxable and the mere presence of permanent establishment in India does not made the income of assessee generated under turnkey contract does not made it taxable. Mere existence of of business connection is not sufficient, to make the income taxable the income should be arising or accruing out of such business connection. The turnkey contract need not to be be considered as an integrated contract just to make the contractor to pay tax in India. To make an inco me taxable under Income Tax Act, it should be shown that the services are not only utilized but rendered in India. To make the income taxable it is necessary to have enough territorial nexus between the rendition of services and territorial limits in India.à ¢Ã¢â€š ¬Ã‚ [13] Hyundai Heavy Industries Co Ltd v. Director of Income Tax This is the another landmark case on the taxability of turnkey contract decided by the supreme court. In Hyundai Heavy Industries Co. Ltd. v. director of Income Tax[14], the Hyundai Heavy Indutries is a Korean based company which eneterd into a turnkey contract with an Indian based company ONGC for fabricating, designing, installation and commissioning of platforms in Bombay High. Designing and fabricating of platform was performed outside India and rest of the activities like installationand commissioning of platform was performed in Bombay High. The Revenue officer issue a notive to the company, to which a company filed a return of income as à ¢Ã¢â€š ¬Ã‹Å"nilà ¢Ã¢â€š ¬Ã¢â€ž ¢ income. And responded to the revenue authorities, as they did not have permanent establishment in India and the activities like designing and fabrication were done outside India making them not liable to pay tax. They are only liable to pay tax for the net profit arising from the activities that are per formed in India i.e. installation and commissioning of platforms. The revenue authority appealed to the Supreme regarding the contention that to what extent the profit attribuatable to companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s permanent establishment in India. The court held that à ¢Ã¢â€š ¬Ã…“the establishment PE of HHI came into presence just on completion of fabrication exercises and supply of the fabricated platforms to ONGC outside India, no part of profits emerging from operation conveyed outside India could be said to have been earned through the Permanent Estabishment. Likewise, no part of profits from operation conveyed outside India could be credited to the PE and consequently accumulated to tax in India. In a turnkey contract comprising designing, fabrication, installation and commissioning work, benefits arising from the operation performed outside India can not be ascribed to the Permanent Establishment. In this way, such benefits can not be liable to tax in India, if the cost paid for work performed outside India is at a careful distance.[15] Conclusion The Supreme Courts decision in HHI case settles the discussion encompassing the taxability of oil field administration suppliers in admiration of fabrication and designing exercises performed outside India under a turnkey contract. The ruling accept increased noteworthiness since it maintains the principle that supply outside India wont be taxable in India indeed where such supply is made as per a single turnkey contract which includes onshore and offshore extent of work and accommodates a protuberance entirety thought.[16] The Apex Court follows its choice in the instance of Ishikawajma Harima Heavy Industries Ltd, affirmed prior, on taxability of offshore supplies. The Court had decided that a non-resident would not be obligated to tax in India in appreciation of exercises performed outside India if such exercises are not viably joined with a business association in India.[17] BIBLIOGRAPHY STATUTES: Income Tax Act, 1961 Finance Act The Assessing Officer (à ¢Ã¢â€š ¬Ã…“AOà ¢Ã¢â€š ¬Ã‚ ) held that the contract between HHI and ONGC was a turnkey contract for a lumpsum price and is an indivisible contract. The designing and fabrication of platform under the contract is intrinsically linked to installation and commissioning activities performed in India. As regards the taxability of Indian operations, the AO held that the activities of HHI constituted a PE in India under Article 5(3) of the DTAA, and therefore, profits attributable to Indian operations were liable to tax in India. In addition, designing and fabrication activities, though performed outside India, are interlinked to the ultimate activity of installation and commissioning; and therefore, a portion of the profits from such operations would also be liable to tax in India. The Supreme Courtà ¢Ã¢â€š ¬Ã¢â€ž ¢s ruling in HHI case settles the controversy surrounding the taxability of oil field service providers in respect of fabrication and design ing activities performed outside India under a turnkey project . The ruling assumes increased significance since it upholds the principle that supply outside India will not be taxable in India even where such supply is made pursuant to a single turnkey contract which includes onshore and offshore scope of work and provides for a lump sum consideration. [1] Funding the Infrastructure Gap, https://www.deloitte.com/assets/DcomIndia/Local%20Assets/Documents/Thoughtware/Funding_the_InfrastructureInvestment_Gap.pdf [2] Rajesh Dhawan Engineering Procurement and Construction-Tax Implication, https://www.taxmann.com/TaxmannFlashes/Flashart5-1-10_2.htm [3] Satish Aggarwal, Averting double tax in EPC, The Hindu Business, https://www.thehindubusinessline.com/todays-paper/tp-opinion/averting-double-tax-in-epc/article1638687.ece [4] Taxation of EPC Contracts- A Treatise, 59 The Chartered Accountant Journal 103, 99-105 (2011). [5] Linklaters Paines v. ITO [2012] 28 taxmann 250 (Mum). [6] Ankit Shah, Taxability of Income from Offshore Supply of Goods To India in a Tunkey contract, 61 The Chartered Accountant Journal 100, 98-103 (2013). [7] Section 5(2) (a) of Income Tax Act, 1961. [8] Section 5(2) (b) of Income Tax Act, 1961. [9] Section 9(1) (i) of Income Tax Act, 1961. [10] Section 9 (1) explaination, Income Tax A ct, 1961. [11] Income Tax Act, 1961. [12] Ishikawajana- Harima Heavy Indutries Ltd. v. direct of Income Tax (2007) 3 SCC 481. [13] Ishikawjama- Harima Heavy Industries ltd. V. Director of Income Tax (2007) 3 SCC 481, www.manupatrafast.in/pers/Personalized.aspx [14] Hyundai Heavy Industries Co. Ltd. v. Director of Income Tax2011 (12) ITR(Trib) 168 (Delhi). [15] Taxability of Turnkey Contracts- SupremeCourt ruling in Hyundai Heavy Indutries Co. Ltd.à ¢Ã¢â€š ¬Ã¢â€ž ¢s case, Tax Edge, june 2007, https://www.bmradvisors.com/upload/documents/Taxedge-Special%20bulletinJune141248414019.pdf [16] Taxability of Turnkey Contracts- Supreme Court ruling in Hyundu Heavy Industries C. Ltdà ¢Ã¢â€š ¬Ã¢â€ž ¢s case, Tax Edge, June 2007 , https://www.bmradvisors.com/upload/documents/Taxedge-Special%20bulletinJune141248414019.pdf [17] Ibid.

Hitler Was An Almighty Dictator - 1477 Words

Nazi Propaganda was devoted to portraying Adolf Hitler as an almighty leader with calmative power with the view of ‘one leader, one party and one ideology’. This image of Hitler was easy to conceive giving the result of the holocaust and the creation of the Nazi state. However, leaving propaganda aside, there have been many historiographical debates as to whether Adolf Hitler was a weak or strong dictator, from Norman Rich claiming he was a master in the Third Reich, to Hans Mommsen who stated Hitler was a weak dictator. This essay will argue that hitler was an almighty dictator by focusing on Hitler as a charismatic leader using evidence of Hitler as a charismatic leader, the structure of the Nazi state and concept of a Volksgeist. 1.†¦show more content†¦Hitler played a central role in decision making of policy that interested him, he ordered the passing of the ‘Nuremberg Laws’ in 1935 and approved anti Semitic action from 1933. Hitler was also involved in foreign policy from the invasion of the Rhineland in 1936 to operation Barbarossa. During peaceful crucial decisions were also made by Hitler. The decision to destroy the leadership of the SA and the second revolting by instigation the Night of the Long Knives; in June 1934 was Hitlers. He took designs to introduce conscription in 1935 to invade the Rhineland and Austria which were all critically important events in the development of the nazi regime, and there timing was directed by Hitler. Hitlers authority was unchallenged, the lack for formal mechanising through which that authority was excessed by the Fuhrer has caused issues with historians trying to explain how the nazi state operated, Hitler rarely read important document befor e making a decision and disliked signing official papers, his officials and sought a verbal agreement of Hitler or even a nod of a head would suffice to sign a document. The suggests he was almighty as a nod of a head would allow a decision to be made and all this suggests that his subordinates were as they were working towards the fuhrer. Hitler kept out of the debates until all sides were exhausted and willing to accept hisShow MoreRelatedA Brief Look at Benito Mussolini759 Words   |  3 PagesWho is Mussolini? Benito Mussolini was an Italian dictator who thrived in the times of both World Wars. Though he was a strong leader with a lot of persistence, his works and contributions in WWII werent as successful as he would have hoped. Even though he had the almighty Adolfo Hitler on his side, he still somehow succeeded to turn his entire country against him in the end and lose one of the most well known wars in all of history. 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The Role Of Criminology And The Future Of Criminology

Abstract Over the last several years criminologist have considered theory integration important for the future of criminology due to the flourishment of crimes in society. Researchers have begun to study crime and the punishments associated with specific crimes that do not include trust crimes such as fraud, workplace theft or income tax invasion. However, they are studying an array of criminal behaviors that involve illicit and illegal behaviors in an effort to establish how important integrated theory will affect the future of criminology. First, integrated theory must connect with society and current issues and linking them to the research. Introduction Criminologist consider theory integration important for the future of criminology due to the flourishment of crimes in society and theories make a different. Because criminal behavior is so sporadic and unpredictable theory integrated is needed to get a better understanding of why criminal behaviors occur. Due to the diversity of what causes crime, not every crime can be analyzed with just one specific theory. Therefore the need for theory integration is needed. This essay will attempt to explain the importance of theory integration in criminology for a better future on handling criminal activity. History of Theories Historically, most criminological theories have focused on relatively specific factors or processes that are suggested to explain either criminal behavior or the distribution of crime (Krohn Eassey,Show MoreRelated The American Society Of Criminology Essay1602 Words   |  7 PagesThe American Society Of Criminology â€Å"AHHHHhhhhh!† I let out a girlish scream and squirmed as shivers went strait up my spine. I was glued to the latest episode of CSI: Crime Scene Investigation, a show that I have watched religiously since its debut. Criminology is something that has always fascinated me, and is a career that I hope to pursue in the future as an FBI agent. 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It cannot, thereforeRead MoreA Comparative Study of the Field Criminal Justice and Criminology1314 Words   |  6 PagesJustice and Criminology Javier Landa-Miranda Ivy Tech Community College CRIM 101 What is Criminal Justice and what is Criminology? They are the same? Those are the questions that people ask their selves when they talk about those fields. There might be many controversies about the differences and similarities about Criminal Justice and Criminology. People must think that these two fields are totally different or just the same thing. The reality is that Criminal Justice and Criminology are twoRead MoreThe Various Theories of Criminology 1276 Words   |  5 PagesCriminology is defined as an interdisciplinary profession built around the scientific study of crime and criminal behavior including their forms, causes, legal aspects, and control. There are many aspects in the field of criminology. These aspects include the areas of research involved, the criminology schools of thought, theoretical developments and the people involved in creating and developing the theories. What role do criminologists play in the field of criminology? The term criminologistRead MoreCriminology And Sociology : Criminology1296 Words   |  6 PagesSummary of Criminology and Sociology: Criminology is concerned with examining the complex issues of crime and criminality to find its underlying causes. To do this criminology primarily aims to achieve answers as to why crime occurs; who is committing said crimes and how society as a whole will respond to crime with regards to policy changes and its place in the media (Australian Institute of Criminology: 2015). Sociology is the scientific study of human social interactions in a societal contextRead MoreGender and Crime Essay946 Words   |  4 Pagescommonly used to describe the innate biological characteristics of humans constituting their femaleness or maleness. Gender on the other hand, covers the social characteristics and usages associated with one sex or the other. Since such roles and customs can vary and be modified it follows that masculine and feminine the terms applied to the respective genders are much more flexible than female and male. In order to cover the subject of gender and crime it is important to Read MorePunishment Vs Classical Criminology1745 Words   |  7 Pagesdifferently. While some have adopted very cruel, inhumane, and creative ways of punishment, others have chosen a relatively fair system of justice. Nevertheless, each system has had and served its purpose in fulfilling a given role in the society they are established. The classical criminology as envisioned by Bentham and Beccaria in the 1700’s and 1800’s has been the foundation upon which the modern criminal system is based on. While very many changes have been made to it, its core principles have remainedRead MoreQualitative vs. Quantitative Research742 Words   |  3 Pageshypothesis, to examine cause and effect, and to make predictions (Xavier). Qualitative research is used to identify patters, themes and certain features while quantitative research tends towards identifying statistical relationships (Xavier). As to the rol e of the researcher in qualitative research, his or her biases †¦may be known to participants in the study and the characteristics of the participants may be known to the researcher; in quantitative research the researcher and his or her biases †¦are

Nuke waste Essay Example For Students

Nuke waste Essay Radioactive wastes, must for the protection of mankind bestored or disposed in such a manner that isolation from thebiosphere is assured until they have decayed to innocuouslevels. If this is not done, the world could face severephysical problems to living species living on this planet. Some atoms can disintegrate spontaneously. As they do,they emit ionizing radiation. Atoms having this property arecalled radioactive. By far the greatest number of uses forradioactivity in Canada relate not to the fission, but tothe decay of radioactive materials radioisotopes. Theseare unstable atoms that emit energy for a period of timethat varies with the isotope. During this active period,while the atoms are decaying to a stable state theirenergies can be used according to the kind of energy theyemit. Since the mid 1900s radioactive wastes have beenstored in different manners, but since several years newways of disposing and storing these wastes have beendeveloped so they may no longer be harmful . A veryadvantageous way of storing radioactive wastes is by aprocess called vitrification. Vitrification is a semi-continuous process thatenables the following operations to be carried out with thesame equipment: evaporation of the waste solution mixed withthe 1) borosilicate: any of several salts derived from bothboric acid and silicic acid and found in certain mineralssuch as tourmaline. additives necesary for the production of borosilicate glass, calcination and elaboration of the glass. These operationsarecarried out in a metallic pot that is heated in an induction furnace. The vitrification of one load of wastes comprisesof the following stages. The first step is Feeding. Inthis step the vitrification receives a constant flow ofmixture of wastes and of additives until it is 80% full ofcalcine. The feeding rate and heating power are adjusted sothat an aqueous phase of several litres is permanentlymaintained at the surface of the pot. The second step is theCalcination and glass evaporation. In this step when thepot is practically full of calcine, the temperature isprogressively increased up to 1100 to 1500 C and then ismaintained for several hours so to allow the glass toelaborate. The third step is Glass casting. The glass iscast in a special container. The heating of the output ofthe vitrification pot causes the glass plug to melt, thusallowing the glass to flow i nto containers which are thentransferred into the storage. Although part of the waste istransformed into a solid product there is still treatment ofgaseous and liquid wastes. The gases that escape from thepot during feeding and calcination are collected and sent toruthenium filters, condensers and scrubbing columns. Theruthenium filters consist of a bed of 2) condensacate: product of condensation. glass pellets coated with ferrous oxide and maintained at a temperature of 500 C. In the treatment of liquid wastes, the condensates collected contain about 15% ruthenium. This is then concentrated in an evaporator where nitric acid isdestroyed by formaldehyde so as to maintain low acidity. Theconcentration is then neutralized and enters thevitrification pot. Once the vitrification process is finished, thecontainers are stored in a storage pit. This pit has beendesigned so that the number of containers that may be storedis equivalent to nine years of production. Powerfulventilators provide air circulation to cool down glass.The glass produced has the advantage of being stored assolid rather than liquid. The advantages of the solids arethat they have almost complete insolubility, chemicalinertias, absence of volatile products and good radiationresistance. The ruthenium that escapes is absorbed by afilter. The amount of ruthenium likely to be released intothe environment is minimal. Another method that is being used today to get rid ofradioactive waste is the placement and self processing radioactive wastes in deep underground cavities. This isthe disposing of toxic wastes by incorporating them intomolten silicate rock, with low permeability. By this method,liquid wastes are injected into a deep underground cavity withmineral treatment and allowed to self-boil. The resulting steam is processed at ground level and recycled in a closedsystem. When waste addition is terminated, the chimney isallowed to boil dry. The heat generated by the radioactivewastes then melts the s urrounding rock, thus dissolving thewastes. When waste and water addition stop, the cavitytemperature would rise to the melting point of the rock. Asthe molten rock mass increases in size, so does the surfacearea. This results in a higher rate of conductive heat lossto the surrounding rock. Concurrently the heat productionrate of radioactivity diminishes because of decay. When theheat loss rate exceeds that of input, the molten rock willbegin to cool and solidify. Finally the rock refreezes,trapping the radioactivity in an insoluble rock matrix deepunderground. The heat surrounding the radioactivity wouldprevent the intrusion of ground water. After all, the steamand vapour are no longer released. The outlet hole would besealed. To go a little deeper into this concept, thetreatment of the wastes before injection is very important. Technology In Agriculture, And Its Application To EssayDuring operation of mixed bed columns, cation and anionexchangers are mixed to ensure that the acis formed aftercontact with the H-form cation resins immediatelyneutralized by the OH-form anion resin. The monobed or mixedbed systems are normally more economical to process wastesolutions. Against background of growing concern over the exposureof the population or any portion of it to any level of radiation, however small, the methods which have beensuccessfully used in the past to dispose of radioactivewastes must be reexamined. There are two commonly usedmethods, the storage of highly active liquid wastes and thedisposal of low activity liquid wastes to a naturalenvironment: sea, river or ground. In the case of thestorage of highly active wastes, no absolute guarantee canever be given. This is because of a possible vesseldeterioration or catastrophe which would cause a release ofradioactivity. The only alternative to dilution a nd dispersion is that of concentration and storage. This isimplied for the low activity wastes disposed into theenvironment. The alternative may be to evaporate off thebulk of the waste to obtain a small concentrated volume. Theaim is to develop more efficient types of evaporators. Atthe same time the decontamination factors obtained inevaporation must be high to ensure that the activity of thecondensate is negligible, though there remains the problemof accidental dispersion. Much effort is current in manycountries on the establishment of the ultimate disposalmethods. These are defined to those who fix the fissionproduct activity in a non-leakable solid state, so that thegeneral dispersion can never occur. The most promisingoutlines in the near future are; the absorbtion ofmontmorillonite clay which is comprised of natural claysthat have a good capacity for chemical exchange of cationsand can store radioactive wastes, fused salt calcinationwhich will neutralize the wastes and high t emperatureprocessing. Even though man has made many breakthroughs inthe processing, storage and disintegration of radioactivewastes, there is still much work ahead to render the wastesabsolutely harmless.

Rules #1, 2, 3 free essay sample

For years, my dad has implemented three rules: 1) We cannot have a TV. 2) In the winter, the house must be 60Â °F; in the summer, the AC cannot be turned on unless it’s 100Â °F, at which point my dad diagnoses the thermometer as broken. 3) I cannot get my driver’s license until I graduate college. Rule #1: The hardest for young-me to accept. Already a friendless seven-year-old, being clueless to what happened on the latest episode of The Wild Thornberrys or Lizzie McGuire did not help. Characters in books became my best friends—people I physically waved goodbye to as I finished each book. Rule #1 instilled in me a love for others’ stories—why I love history, and why I love documenting others’ lives in a yearbook. Rule #2: Every season, I construct new armor for combat. Some winters, I sport a self-constructed stuffed-animal-crown to keep warm, and other times, I trust my good ol’ electric heater to do the work. We will write a custom essay sample on Rules #1, 2, 3 or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page When it’s hot, I live on the floor; after all, warm air rises. Rule #2 has made me a fighter—why I strive to never give up. Rule #3: Only recently relevant. Realistically, it means that every day after school, I ride home with a different friend. This habit fills my post-school life with a plethora of intellectually-stimulating and casual conversations. Rule #3 compels me to embrace every moment—why I love taking risks. Thank you, dad—because of rules #1, 2, and 3, I am me.

Brief Biography of Sharpshooter Annie Oakley

Brief Biography of Sharpshooter Annie Oakley Blessed with a natural talent for sharp-shooting, Annie Oakley proved herself dominant in a sport that was long considered a mans domain. Oakley was a gifted entertainer as well; her performances with Buffalo Bill Codys Wild West Show brought international fame, making her one of the most celebrated female performers of her time. Annie Oakleys unique and adventurous life has inspired numerous books and films as well as a popular musical. Annie Oakley was born Phoebe Ann Moses on August 13, 1860 in rural Darke County, Ohio, the fifth daughter of Jacob and Susan Moses. The Moses family had moved to Ohio from Pennsylvania after their business- a small inn- had burned to the ground in 1855. The family lived in a one-room log cabin, surviving on game they caught and crops they grew. Another daughter and a son were born after Phoebe. Annie, as Phoebe was called, was a tomboy who preferred spending time outdoors with her father over household chores and playing with dolls. When Annie was only five, her father died of pneumonia after being caught in a blizzard. Susan Moses struggled to keep her family fed. Annie supplemented their food supply with squirrels and birds that she trapped. At the age of eight, Annie began sneaking out with her fathers old rifle to practice shooting in the woods. She quickly became skilled at killing prey with one shot. By the time Annie was ten, her mother could no longer support the children. Some were sent to neighbors farms; Annie was sent to work at the county poor house. Soon afterward, a family hired her as live-in help in exchange for wages as well as room and board. But the family, who Annie later described as wolves, treated Annie as a slave. They refused to pay her wages and beat her, leaving scars on her back for life. After nearly two years, Annie was able to escape to the nearest train station. A generous stranger paid her train fare home. Annie was reunited with her mother, but only briefly. Because of her dire financial situation, Susan Moses was forced to send Annie back to the county poor house. Making a Living Annie worked at the county poor house for three more years; she then returned to her mothers home at the age of 15. Annie could now resume her favorite pastime- hunting. Some of the game she shot was used to feed her family, but the surplus was sold to general stores and restaurants. Many customers specifically requested Annie’s game because she shot so cleanly (through the head), which eliminated the problem of having to clean buckshot out of the meat. With money coming in regularly, Annie helped her mother pay off the mortgage on their house. For the rest of her life, Annie Oakley made her living with a gun. By the 1870s, target shooting had become a popular sport in the United States. Spectators attended competitions in which shooters fired at live birds, glass balls, or clay disks. Trick shooting, also popular, was usually performed in theaters and involved the risky practice of shooting items out of a colleagues hand or off the top of their head. In rural areas such as where Annie lived, game-shooting competitions were a common form of entertainment. Annie participated in some local turkey shoots but was eventually banned because she always won. Annie entered a pigeon-shooting match in 1881 against a single opponent, unaware that soon her life would change forever. Butler and Oakley Annies opponent in the match was Frank Butler, a sharp-shooter in the circus. He made the 80-mile trek from Cincinnati to rural Greenville, Ohio in the hopes of winning the $100 prize. Frank had been told only that he would be up against a local crack shot. Assuming that his competitor would be a farm boy, Frank was shocked to see the petite, attractive 20-year old Annie Moses. He was even more surprised that she beat him in the match. Frank, ten years older than Annie, was captivated by the quiet young woman. He returned to his tour and the two corresponded by mail for several months. They were married sometime in 1882, but the exact date has never been verified. Once married, Annie traveled with Frank on tour. One evening, Franks partner became ill and Annie took over for him at an indoor theater shoot. The audience loved watching the five-foot-tall woman who easily and expertly handled a heavy rifle. Annie and Frank became partners on the touring circuit, billed as Butler and Oakley. It is not known why Annie picked the name Oakley; possibly it came from the name of a neighborhood in Cincinnati. Annie Meets Sitting Bull Following a performance in St. Paul, Minnesota in March 1894, Annie met Sitting Bull who had been in the audience. The Lakota Sioux Indian chief was infamous as the warrior who had led his men into battle at Little Bighorn at Custers Last Stand in 1876. Although officially a prisoner of the U.S. government, Sitting Bull was allowed to travel and make appearances for money. Once reviled as a savage, he had become the object of fascination. Sitting Bull was impressed by Annies shooting skills, which included shooting the cork off a bottle and hitting the cigar her husband held in his mouth. When the chief met Annie, he reportedly asked if he could adopt her as his daughter. The adoption was not official, but the two became lifelong friends. It was Sitting Bull who bestowed upon Annie the Lakota name Watanya Cicilia, or Little Sure Shot. Buffalo Bill Cody and The Wild West Show In December 1884, Annie and Frank traveled with the circus to New Orleans. An unusually rainy winter forced the circus to close down until summer, leaving Annie and Frank in need of jobs. They approached Buffalo Bill Cody, whose Wild West Show (a combination of rodeo acts and western skits) was also in town. At first, Cody turned them down because he already had several shooting acts and most of them were more famous than Oakley and Butler. In March of 1885, Cody decided to give Annie a chance after his star shooter, world champion Adam Bogardus, quit the show. Cody would hire Annie on a trial basis following an audition in Louisville, Kentucky. Codys business manager arrived early at the park where Annie was practicing prior to the audition. He watched her from afar and was so impressed, he signed her on even before Cody showed up. Annie soon became a featured performer in a solo act. Frank, well aware that Annie was the star in the family, stepped aside and took on a managerial role in her career. Annie dazzled the audience, shooting with speed and precision at moving targets, often while riding a horse. For one of her most impressive stunts, Annie fired backward over her shoulder, using only a table knife to view the reflection of her target. In what became a trademark move, Annie skipped offstage at the end of each performance, ending with a little kick in the air. In 1885, Annies friend Sitting Bull joined the Wild West Show. He would stay one year. The Wild West Tours England In spring of 1887, the Wild West performers- along with horses, buffalo, and elk- set sail for London, England to participate in the celebration of Queen Victorias Golden Jubilee (the fiftieth anniversary of her coronation). The show was immensely popular, prompting even the reclusive queen to attend a special performance. Over a six-month period, the Wild West Show drew more than 2.5 million people to the London appearance alone; thousands more attended in cities outside of London. Annie was adored by the British public, who found her modest demeanor charming. She was showered with gifts- and even proposals- and was the guest of honor at parties and balls. True to her homespun values, Annie refused to wear ball gowns, preferring instead her homemade dresses. Leaving the Show In the meantime, Annies relationship with Cody was becoming increasingly strained, in part because Cody had hired Lillian Smith, a teenaged female sharpshooter. Without giving any explanation, Frank and Annie quit the Wild West Show and returned to New York in December 1887. Annie made a living by competing in shooting competitions, then later joined a newly-formed wild west show, the Pawnee Bill Show. The show was a scaled-down version of Codys show, but Frank and Annie werent happy there. They negotiated a deal with Cody to return to the Wild West Show, which no longer included Annies rival Lillian Smith. Cody’s show returned to Europe in 1889, this time for a three-year tour of France, Germany, Italy, and Spain. During this trip, Annie was troubled by the poverty she saw in each country. It was the beginning of her lifelong commitment to donating money to charities and orphanages. Settling Down After years of living out of trunks, Frank and Annie were ready to settle down in a real home during the shows off-season (November through mid-March). They built a house in Nutley, New Jersey and moved into it in December 1893. The couple never had children, but it is unknown whether or not this was by choice. During the winter months, Frank and Annie took vacations in the southern states, where they usually did a lot of hunting. In 1894 Annie was invited by inventor Thomas Edison of nearby West Orange, New Jersey, to be filmed on his new invention, the kinetoscope (a forerunner of the movie camera). The brief film shows Annie Oakley expertly shooting out glass balls mounted on a board, then hitting coins thrown up in the air by her husband. In October 1901, as the Wild West train cars traveled through rural Virginia, troupe members were awakened by a sudden, violent crash. Their train had been hit head-on by another train. Miraculously, none of the people were killed, but about 100 of the shows horses died on impact. Annies hair turned white following the accident, reportedly from the shock. Annie and Frank decided it was time to leave the show. Scandal for Annie Oakley Annie and Frank found work after leaving the Wild West show. Annie, sporting a brown wig to cover her white hair, starred in a play written just for her. The Western Girl played in New Jersey and was well-received but never made it to Broadway. Frank became a salesman for an ammunition company. They were content in their new lives. Everything changed on August 11, 1903, when the Chicago Examiner printed a scandalous story about Annie. According to the story, Annie Oakley had been arrested for stealing to support a cocaine habit. Within days, the story had spread to other newspapers around the country. It was, in fact, a case of mistaken identity. The woman arrested was a performer who had gone by the stage name Any Oakley in a burlesque Wild West show. Anyone familiar with the real Annie Oakley knew that the stories were false, but Annie couldnt let it go. Her reputation had been tarnished. Annie demanded that each and every newspaper print a retraction; some of them did. But that wasnt enough. For the next six years, Annie testified at one trial after another as she sued 55 newspapers for libel. In the end, she won about $800,000, less than she had paid in legal expenses. The entire experience aged Annie greatly, but she felt vindicated. Final Years Annie and Frank kept busy, traveling together to advertise for Franks employer, a cartridge company. Annie participated in exhibitions and shooting tournaments and received offers to join several western shows. She re-entered show business in 1911, joining the Young Buffalo Wild West Show. Even in her 50s, Annie could still draw a crowd. She finally retired from show business for good in 1913. Annie and Frank bought a house in Maryland and spent winters in Pinehurst, North Carolina, where Annie gave free shooting lessons to local women. She also donated her time to raising funds for various charities and hospitals. In November 1922, Annie and Frank were involved in a car accident in which the car flipped over, landing on Annie and fracturing her hip and ankle. She never fully recovered from her injuries, which compelled her to use a cane and a leg brace. In 1924, Annie was diagnosed with pernicious anemia and became increasingly weak and frail. She died on November 3, 1926, at the age of 66. Some have suggested that Annie died from lead poisoning after years of handling lead bullets. Frank Butler, who had also been in poor health, died 18 days later.

Audit Report Essay Example | Topics and Well Written Essays - 2500 words

Audit Report - Essay Example It therefore means all sectors as well as households have to play a role in order to achieve that goal. This environmental audit report is based on an environmental review of my household which is a flat. The review took place between the periods July 4 and July 17, 2011. Everything that is done in the household has an impact on the environment. Electricity is used for energy in the household. It provides lighting and heating and provides energy to operate appliances. Electricity contributes to the emission of greenhouse gas which has a negative impact on the environment. Waste from household activities also contributes to the emission of greenhouse gas in the environment. All of these activities result in climate change which affects all of us. Water is a scare resource and the way it is used in households has an impact on environmental pollution which is just one of the consequences of climate change which is due also to the irresponsible consumption of water (Household Water Audit ). Overview of household activities My household consists of three (3) persons, two of whom go out to work from Monday and Friday. I attend university and so I am hardly at home during the days. We are scarcely at home for a full day on Saturdays. However, we spend some time cleaning and washing before leaving home for various activities including shopping and entertainment. Saturdays and Sundays are the only days we prepare breakfast and dinner. The microwave is used to prepare meals each morning and each evening for a approximate 20 minutes each day from Monday to Friday. Our waste from Monday to Friday each week is very light since we are away from home for the better part of those days. However, on Saturdays and Sundays it is a bit heavier, especially on Sunday when we prepare for the rest of the week. Environmental impact of electricity use During any week we operate a number of appliances. They number approximately ten (10) and are used at least once per week. The table below shows the appliances in use, kilowatt hour (KWh) used along with the number of hours in used for each day during the period July 4 to July 17, 2011. Table 1 - Electricity used during the period July 4 to July 17, 2011 Electricity Usage Day Air Cond (KWh) Time (hr) Stove (KWh) Time (hr) M/Wave (KWh) Time (hr) Washing machine (KWh) Time (hr) Fridge Time (hr) TV (KWh) Time (hr) Laptop (KWh) Time (hr) Lights (KWh) Time (hr) Hair dryer (KWh) Time (hr) Iron (KWh) Time (hr) Total KWh Wattage 400 Â   800 Â   1400 Â   400 Â   725 8 120 Â   50 Â   18 Â   1500 Â   1500 Â   Â   Mon 2 5 0.4 0.5 0.462 0.33 0 Â   5.8 8 0.24 2 0.1 2 0.09 5 0 Â   0 Â   Â   Tues 2 5 0.8 1 0.462 0.33 0 Â   5.8 8 0.24 2 0.05 1 0.108 6 0 Â   0 Â   Â   Wed 1.6 4 0.8 1 0.462 0.33 0 Â   5.8 8 0.24 2 0.05 1 0.108 6 0.25 Â   0 Â   Â   Thur 2 5 0.8 1 0.462 0.33 0 Â   5.8 8 0.24 2 0.075 1.5 0.108 6 0 Â   0 Â   Â   Fri 2 5 0.8 1 0.462 0.33 0 Â   5.8 8 0.24 2 0.05 1 0.108 6 0 Â   0 Â   Â   Sat 2.8 7 1.2 1.5 0 Â   0.8 2 5.8 8 0.48 4 0.1 2 0.126 7 0 Â   2.25 1.5 Â   Sun 2.8 7 2.4 3 0 Â   0 Â   5.8 8 0.84 7 0.15 3 0.144 8 0.75 0.5 0 Â   Â   Mon 1.6 4 0.4 0.5 0.462 0.33 0 Â   5.8 8 0.24 2 0.05 1 0.09 5 0 Â   0 Â   Â   Tues 1.6 4 0.8 1 0.462

The Ethics of Human Resource Management Essay Example | Topics and Well Written Essays - 2500 words

The Ethics of Human Resource Management - Essay Example are considered as inalienable rights for workers (Fredrick, 2002) and these can be considered as negotiable too (Koehn, 2002) (Watson, 2003). Human resources management is also expected to address the issues of discrimination such as age, race, gender, religion, disability, sexual harassment etc. often through the use of affirmative action. (Smith, 1997) In a similar manner the employees of an organisation have certain obligations towards employers such as privacy over intellectual property rights, whistle blowing etc. Employees are expected to deal with these issues on an ethical plane such that the interests of the employer are not transgressed upon. On the other hand, employers have certain ethical obligations towards employees such as workplace safety through either modifying the workplace or through providing training and protection from hazards in the workplace. Within the problems listed above, individual companies can be considered as independent because most of these considerations can be handled in house or with the help of little external help. However there are certain issues that may pervade the limits of a company or firm’s authority to deal with them. The realm of more pervasive economic issues such as trade policies, trade unionism, immigration and globalisation all possess some kinds of ethical dimensions but it is often beyond the power of an individual company to deal with them (Legge, 2007) (Morehead et al., 1997). There are a number of leading theories on dealing with ethical issues in the human resource management sphere including Kantian ethics, consequentialism utilitarianism, virtue ethics and justice ethics. Arguments have been advanced both in favour of and against these theories that tend to make human resources management ethical as well as an unethical field of practice. There is however no denying that ethics plays a large part in human resources management and in order to create a lasting and

Study report Essay Example for Free

Study report Essay The purpose of the research reported on by Hardman, Abd-Kadir Smith (2007) was to examine the instructional practices of teachers in primary schools in Nigeria. The research questions, though not explicitly stated, were to examine the type and quality of teacher-student interactions, to review the comparative extent of student and teacher participation in discourse and further to make recommendations on how primary education in Nigeria can be improved, based on these findings. The research focused on the Sub-Saharan nation of Nigeria. Initially a representation of twenty primary schools was randomly selected from among twenty Nigerian states resulting in two schools per state with an average of 45 students per school. However three states had to be excluded from the analysis resulting in 14 schools being covered in the survey. In each school the researchers focused on a Primary 6 lesson in Mathematics, English or Science. A combination of techniques was used to gather data. These involved observations, in the form of videotaped lessons and a questionnaire administered to the classroom teachers. The duration of the videotaping exercise in each school covered one lesson in each of the three subject areas. 59 teachers completed the questionnaires. To determine classroom interaction the researchers logged, from the videotape, the type of questions teachers asked and who responded and teachers’ follow-up to responses. 12 of the lessons were transcribed and linguistic analysis conducted to analyse the type of classroom discourse. Additionally the responses on the questions were compared to actual classroom practice to determine inconsistencies. The authors conclude that Nigerian primary classrooms are very teacher-centred, heavily focused on rote learning, did not offer individualized attention but entailed whole-class responses and allowed for very little student interaction. One positive of the research is that it examined instructional practices in different subject areas and across different regions because these factors can sometimes determine how teachers behave in the classroom. The major weakness with this research, I find, is that only a single lesson in each subject was video-recorded. It could very well be that the lessons were a-typical for the teacher who taught with the knowledge that the lesson was being video-taped and even for the students as well. References Hardman, F. , Abd-Kadir Smith, F. (2008). Pedagogical renewal: Improving the quality of classroom interaction in Nigerian primary schools. International Journal of Educational Development, 28, 55-69.

The Wrongful Conviction and Exoneration of David Milgaard :: Criminal Justice Essays

The Wrongful Conviction and Exoneration of David Milgaard Background At the time of the murder of which David Milgaard was accused of committing he was just 16 years old. He was a hippie, constantly in trouble. Even before he was a teenager he was getting into trouble. His parents and teachers considered him impulsive; he resisted authority (Regina Leader Post, 1992, as cited in Anderson & Anderson 1998). He was removed from kindergarten because he was considered to be a negative influence on the other children. When he was thirteen he spent time in a psychiatric centre (Anderson & Anderson, 1998) Elements of the Crime Gail Miller was a 22-year-old nursing assistant living in Saskatoon. She was found in an alley way between 6:45 and 7:30am on January 31st 1969. She had been raped, stabbed twelve times and left for dead. The rape was found to have occurred after she died. The police had little evidence; few clues had been left behind. There had been other attacks in the same area. Authorities tried to suppress the information that linked the Miller rape and murder to the two other assaults. Milgaard's Whereabouts David had decided to take a trip out to Alberta, along with two of his friends, Ron Wilson and Nichol John. Along the way there David wanted to stop through Saskatoon to pick up another friend, Shorty Cadrain. Once they got to Saskatoon they drove around not really knowing where they were going. They stopped to help someone out of a snow bank, and got stuck themselves; this is when Milgaard ripped his pants, something that came into evidence against him. When they finally arrived at Cadrain's home, David changed his pants, and they left to go to Alberta. Larry Fisher, who was later convicted of this crime (Miller's murder) was staying in the same home as Cadrain at the time. Some time after returning from their short trip to Alberta, Cadrain heard about the $2000 reward for information into Miller's death. Cadrain went to the police with a version of what happened that night, although he had been questioned earlier and had no information to give at that time. This is what made Milgaard a suspect in the case. From then on the police concentrated their efforts on finding evidence implicating Milgaard. Within the statement Cadrain gave to the police he said Milgaard had blood on his clothes, he threw away a woman's cosmetic case from the car on the way to Alberta and Cadrain also stated that he threatened to kill Wilson and John because they knew too much.

Consequences of High Interest Rates in the Ghanaian Economy…..

Interest rates are among the closely watched variables in the economy. The media on daily bases record their movement because they affect our everyday lives and have crucial consequences for the health of the economy. They affect personal decisions as whether to consume or save, whether to buy a house and whether to purchase bonds or put funds into a savings account. Interest rates also affect the economic decisions of households or businesses such as whether to put their money in the bank or invest in new equipments for factories.Before continuing, we must understand exactly what interest rates mean. By holding financial instruments , such as loans or bonds. Savers and financial institutions extend credits to those individuals or firms that issue the instruments. The amount of credit extended is the principal amount of the loan or the bond. Those who hold financial instruments do so because they receive payments from the issuers in the form of interest. The percentage return earned is the interest rate or rate of return.Rate of return is the price of credit in financial markets and is usually expressed as a percentage (%) of the total amount borrowed that is to be paid each year (over and above the repayment of the principal, or amount borrowed). Thus, it is the price of credit of the rate of exchange between the present and the future. Rate of returns (r) vary given interest rate (i). It is the value of i that just equates the present value (PV) of the benefits of the extra capital when discounted at i to its cost (Pk). That is, r is defined as : r=MRP/Pk, where: MRP=Marginal Revenue Product Pk= CostWe would however, take a look at how interest rate is calculated, various theoretical analyses that seek to explain the determination of interest rates, distinctions between nominal and real interest rates. Finally, we shall relate it to the case of the Ghanaian economy and look at the consequences of the high interest rates in Ghana. CONCEPTS OF INTEREST YIELD/RA TE Interest yields on financial instruments are thought of in different ways. The most important of these are Nominal Yield Current Yield Yield to Maturity NOMINAL YIELD Assuming that a bond is issued in an amount of 100,000 with an agreement to pay 6000 in interest every year.The annual payment of 6000 is the bond’s annual coupon return. This is simply the fixed amount of interest that the bond yields each year. The nominal yield on a bond is equal to rN= C/F, where rN is the nominal yield, C is the coupon return and F is the face amount of the bond. The annual yield of the 100,000bond with the 6000 coupon yield or return is equal to 6000 / 1000,000=0. 06 or 6 percent. Current Yield The current secondary market price of the bond typically is not the face value of the bond. Bonds often sell in the secondary market at prices that are different from their face value.For this reason, those contemplating on bond purchase often are interested in the current yield of a bond. This e quals to r i =C/P Where ri denotes the current market yield, C is the coupon return and P is the current market price of a bond. For instance, the current market price of a bond with a face value of 100,000 might be 90,000. If the coupon return on the bond is 6,000 per year, then annual current yield on this bond is equal to 6,000/90,000=0. 667 or 6. 7 percent. Yield on Maturity A bond’s yield on maturity is the rate of return if the bond is held until maturity.Calculating this yield can be complicated, however, because the bonds normally differ. Typically, bonds are sold at a discount, below its face value. Hence, other things being equal, the bond holder receives an automatic capital gain if the bond is held to maturity. A capital gain occurs when the value of a financial asset at the time it is redeemed or sold is higher than its market value when it was purchased. Consequently, the bond pays a coupon return. The yield to maturity must account for both the capital gain and the coupon returns that a bond yields to its owner. MEASURING INTEREST RATESThe financial credit market instrument can be classified under four types ?Simple Loan This provides the borrower with an amount of funds (principal) which at the maturity date must be repaid to the lender along with an additional amount known as an interest payment. Supposing, a bank made you a simple loan of 100,000 for one year, you would have to pay the principal of 100,000 in one year’s time along with an additional interest payment of say 10,000 given interest rate to be 10%. Most often, commercial bank loans to businesses are often of this type. ?Fixed payment loan:This provides the borrower with an amount of funds that he is to repay by making the same payment every month, which comprises part of the principal and interest for a given number of years. For example, if you borrowed 100,000, a fixed payment loan might require you to pay 12,600 every year for 25 years. ?Coupon Bond A coupon bond pays the owner of the bond a fixed interest payment every year until the maturity date, when a specified final amount is repaid. For example, a coupon bond with 100,000 face values might pay you a coupon payment of 10,000 per year for 10 years and at the maturity date repays you the face value amount of 100,000. Discount Bond A discount bond is bought at a price below its face value (at a discount) and the face value is repaid at the maturity date. However, unlike the coupon bond, the discount bond makes no interest payment. It just pays off the face value. For example, a discount bond with a face value of 100,000 might be bought for ? 90000 and in a year’s time the owner would be repaid a face value of 100,000. These four types of instruments require payments at different times. Simple loan and discount bonds make payment only at their maturity dates, while fixed payment loans and coupon bonds have payments periodically until maturity.The decision as to which of the instrume nts provides you with more income is difficult since they all make payments at different times. To solve this problem, the concept of present value was invented to provide us with a procedure for measuring interest rate on these different types of instruments, Present Value (PV) approach shows the present value Ao of a known amount An, to be received in ‘n’ years assuming compound interest is at the rate ( i) . The present value (PV) formula is Ao=An/(1+i)n NORMINAL VERSUS REAL RATES OF INTEREST So far we have discussed interest rates only in current cedi terms.There is, however, a problem with this. Inflation can erode the value of interest received when a financial instrument matures. Any individual must take this into account when evaluating how much to save. For instance, supposing that a saver can earn a stated current cedi interest rate or nominal interest rate of r=0. 06(6%) on each cedi that he allocates to a one year bond. Supposing also that the saver expects that prices of goods and services would rise by a factor, ? e=0. 03(3%) Where ? e is expected rate of inflation. This is the rate of inflation that he expects to face.Such inflation would reduce the amount of goods and services that his interest would permit him to purchase. Thus, although the saver earns post interest on the bonds he anticipates the inflation will eat away at that interest and the rate ? e. Hence, the real interest rate that this saver anticipated or his expected inflation-adjusted interest rate is approximately equal r = r-? e r = 0. 06-0. 03=0. 03, Where r = real interest and r = nominal interest rate. In terms of what his savings can buy this saver actually anticipates earnings only 3% on his one year bond.A rate of return in current-cedi terms that does not reflect anticipated inflation is known as Nominal Interest Rate. The anticipated rate of return from holding a financial instrument after taking into account the extent to which inflation is expected to redu ce to the amount of goods and services that this return could be used to buy is termed as Real Interest Rate. The real interest rate is crucial for determining how much the individual desires to save. The reason is that savings is foregone consumption. This individual is likely to give up more consumption if the real rate of return on savings is large.This means that the real interest rate is a crucial determinant of the saving in the nation where this saver is a citizen. Countries with high nominal interest rates often experience very low saving rates because expected inflation is so high. THEORIES OF INTEREST RATES Various theories have been propounded by various economists to explain the determination of interest rates. However we would focus on three main theories namely; †¢Classical theory †¢Neo-classical/Loanable funds Theory †¢Keynesian/Liquidity Preference Theory CLASSICAL /REAL THEORY OF INTEREST RATESThis theory by Marshall and Pigou uses savings and investm ent in determining interest rates. The theory equates investment to demand for capital or supply of bonds (i. e. , sales of bonds). and savings to supply of Capital or Demand for bonds (i. e. purchases of bonds). Hence interest rate is determined when investment equals savings as illustrated below Figure 1. INVESTMENTS – SAVINGS COMBINATION IN THE BONDS MARKET Where B (supply of bonds) = I( investment ) B (demand for bonds )= S (savings) r is the equilibrium rate of interest at where S=IAccording to the classicals, there are only two groups of people in the market to provide bonds; investors and government. Firms sell bonds in order to have capital or funds for investments. The sale of bonds however, depends on the expected rate of returns and the cost in selling the bonds. Hence bond price is expressed as PB=Y/r where PB=Bond Price , Y=rate of returns and r= interest rate, implying an inverse relationship between Bond prices and interest rates, Expected rate of returns is as sumed fixed, and when interest rate rises above the rate of returns, it affects the relationship between investment and interest rate.Assumptions: †¢The classicals assume that, †¢Income is constant †¢The saving-investment schedules are independent of one another Criticisms: †¢Keynes asserts that income is variable and not constant and that the equality between savings and investment is brought about by changes in income and not by variations in the rate of interest. †¢Keynes also states that the saving-investment schedules are not independent of one another THE NEO-CLASSICAL/LOANABLE FUNDS THEORY This theory explains the determination of interest in terms of demand and supply of loanable funds or credit.The theory defines rate of interest as the price of credit which is determined by the demand and supply for loanable funds. According to Prof. Lerner, it is the price which equates the supply of credit or saving plus the net increase in the amount of money in a period to the demand for credit or investment plus net hoarding in the period Demand for Loanable Funds. Three main entities of demand for loanable funds; governments, business men and consumers need them for purposes of investment, hoarding and consumption. Government borrows funds for constructing public works.Business men borrow for the purchase of capital goods and for investment projects. Such borrowings are interest elastic and depend mostly on the expected rate of profit. Individual consumers however may demand loanable funds for the purchase of durable consumer goods like houses. These borrowings are also interest elastic. At lower rates of interest, people borrow more than at higher rates of interest in order to enjoy their consumption now. Supply of loanable funds The supply of loanable funds comes from savings, dishoardings and bank credit.The main sources of supply of loanable funds are private, individual and corporate savings. Savings depend on the level of income. For a given level of income savings will depend on interest rate, and the higher the interest rate the greater will be the inducement to save and vice versa. This saving is referred to as Personal Savings. Corporate savings are the undistributed profits of firms and it also depends on current rate of interest to some extent. High interest rate deters borrowing and thus encourages savings. Dishoarding may also occur when interest rate is high or increases.Thus, one dishoards (ie, releasing hoarded money or idle money holdings), if the cost of holding that money increases as a result of high interest rate. Hence, there is a positive relationship between interest rate and dishoarding. Banks also give credit when the borrowing rate is high. That is when interest rate on credit payable by borrowers is high, hence a positive relationship between interest rate and bank credit. Criticisms: †¢Savings not interest elastic. The theory over emphasis the influence of the rate of interest on savings as interest elastic.Thus, people save not only to earn rate of interest but also for other purposes like precautionary motive, hence savings are interest inelastic. †¢The theory is also criticized for combining monetary factors with real factors making it unrealistic. †¢Equilibrium rate reflects unstable equilibrium. The demand and supply schedules for loanable funds determine the equilibrium rate of interest OR which does not equate each component on the supply side with the corresponding components on the demand side. KEYNESIAN/ LIQUIDITY PREFERENCE THEORYKeynes defines interest rate as the price which equilibrates the desire to hold wealth in the form of cash that is the demand and supply of money determines interest rates. The supply of money is considered fixed and exogenously determined (that is inelastic). Demand for money is also called liquidity preference which is the desire to hold money. In this case, interest rate is the premium which has to be offere d to induce people to hold their wealth in some form other than hoarded money. According to Keynes, speculative demand for money is determined by interest rate and bond prices.He considered the current interest (i) as that which determines the speculative demand for money. The higher the rate of interest, the lower the speculative demand for money. At very low rate of interest people will rather prefer to keep their money in cash than investing in bonds because purchasing of bonds will mean a loss. Determination of interest rates The equilibrium interest rate is determined at a point where the supply and demand for money equilibrates. At the point of liquidity trap, there is the belief that interest rate will not fall but will at a point in time rise hence investors hold money against future rise in interest rate.Criticisms: †¢The theory is considered as indeterminate by Prof. Handson. Keynes asserts the liquidity preference determines the interest rates. The problem is that a new liquidity preference curve would have to be drawn at each level of income. This indicates that income levels will have to be known before otherwise, the supply and demand for money curves cannot tell us what the interest rates will be. †¢Hicks and others were of the view that interest rate is determined by the following; i. Investment demand function ii. Savings function iii. Liquidity preference function iv. Quantity of money function.They are present in Keynes theory but not all are the interest rate analysis. Keynes ignores investment and savings, hence his theory is considered as incomplete. TRENDS IN SAVINGS AND LENDING RATES IN THE GHANAIAN ECONOMY (1994-2004). YEAR19941995199619971998199920002001200220032004 LENDING RATE31. 2440. 5641. 7143. 5838. 536. 54743. 7536. 3632. 7528. 8 DEPOSITE RATE21. 3726. 7532. 2432. 320. 215. 3925. 817. 4312. 4911. 969. 87 INTEREST SPREAD9. 8713. 819. 4711. 2818. 321. 1121. 226. 3223. 8720. 7918. 9 The interest spread was calculated as a difference in the averages of the lending and the deposit rates covering the said period.Between 1997 and 2001, the interest spread increased and subsequently started falling at a slightly varying decreasing rate. This was the period when the lending rates were high 43. 75% in 2001, down from 47% in 2000 because of the high inflation rate and the general turbulence within the economy. The corresponding deposit rate was 17. 43%. Between the years 2001 and 2004, the average interest spread was 23. 66%. This rate of profits of the commercial banks, heralded the spiral influx of foreign banks especially from neighbour Nigeria. It has been taunted that the banking sector is doing very well.In reality there has not been much competition between the existing banks, hence the high lending rate as well as their profits. They tended to act as collusive oligopolies. Recent developments and trends in the banking sector has been that, competition at long last has set in. For instance the Zenit h Bank has unilaterally decided to reduce it’s lending rate 14. 1% with respect to the general rate. This will result in much more innovation in the sector resulting in better banking services and a general reduction in the interest rate as pertained in competitive markets.From the existing trends, especially as indicated in the graph above, other sectors of the economy will take advantages of the low interest rate to boost up investments and hence output with a resultant increase in the GDP. This is the miracle of interest rates. HIGH VERSUS LOW INTEREST RATES IN THE GHANAIAN ECONOMY. In most economies including Ghana, interest rates are largely influenced by the prime rate which is the rate at which the central bank gives over-night loans to the commercial banks. Thus, when Bank of Ghana (BOG) fixes its prime rate, interest rates are adjusted depending on the direction of the prime rate.There is however a positive relationship between prime rate and interest rates. When pri me rate is set high or low interest rates are also fixed relatively high or low. For instance, interest rates followed a declining pattern in 2003. The monetary policy committee of BOG revised the prime rate downwards from 21. 5% in 2003 to 18. 5% in 2004. In line with this downward revision, the commercial banks’ base rates dropped from an average of 29. 0% to 25. 4%. Interest rates for the 91-day treasury bill dropped from 18. 71% at the beginning of the year to 17. 8% at the close of December 2004. The inter-bank interest rate also dropped from 17. 12% in January to 16. 23% at the end of December. Interest rates, however, low or high have both favourable and adverse effects on the economy of a country. During periods of high interest rates investment falls and savings increase and vice versa in the case of low interest rates. The table and graph below shows interest rates, 1998-2004 and interest rate margins respectively. YEAR1998199920002001200220032004 SAVINGS22262929. 2 525. 232319. 25 TIME DEPOSITS914. 7513. 520. 520. 1418. 515. 5Holders of stocks lose during periods of high interest rates and holders of money (cash) gain though money earns zero interest. In periods of economic boom, high interest rates might be needed to check inflation, while low interest rates will be needed to stimulate investments and create employment in recessions. In between these two extremes, interest rates are adjusted up or down depending on prevailing economic conditions. High interest rates will slow down the economy and cripple the private sector. Investors cannot access funds from financial institutions, thus creating low level of investments.It will also be tempting to invest available funds in high yielding bonds than in infrastructural business investments. This will reduce spending, shrink national output and bring down inflation. Low level of investments will therefore create unemployment. The central bank reacts by lowering interest rates using the sight depo sit rate (inter-bank transaction rate with commercial banks also referred to as the key rate). Low interest rates stimulate the economy. Investors can access low-cost capital for investment. Employment increases, and the national output increases.Low interest rates therefore allow for borrowing and spending, but then, inflation will also pick up. As inflation picks up, companies can increase employment, since real wages decrease. Successive increase in interest rate leads to inflation. Inflation however bad for an economy also leads to reducing unemployment rates since there is a negative relationship between inflation rate and unemployment rate. CONSEQUENCES OF HIGH INTEREST RATES IN THE GHANAIAN ECONOMY. High interest rates have certain repercussions in the Ghanaian economy. Prior to 1987, there was a decline in economic growth and development in Ghana due to high interest rates.Current high interest rates on bank loans (over 25%) and treasury bills (17%) have been a serious imped iment to raising capital in the local market. private sector growth in Ghana has been constrained by limited financing opportunity for private investments. High interest rates lead to crowding out of the private sector in the money market; it makes available loanable funds to the government. Thus, lenders of loanable funds shift lending to only the government with the surety that there is 100% safety in retrieving their money since they believe that governments do not die.Studies done in the past show that the growth process in Ghana has been driven mostly by public investments. As a result, some have attributed the lack of accelerated growth to a combination of weak investment and low productivity from the private sector. Hence the current government in its manifesto promised to make the private sector the engine of growth by providing the right socio-economic framework. For example, the government through the monetary policy committee of the bank of Ghana (BOG) managed to reduce t he Bank’s Prime Rate from 21. % in 2003 to 18. 5% in 2004 and currently down from 15. 5% at the beginning of 2006 to 14. 5%. When the prime rate fell, the BOG was expecting a corresponding decrease in commercial bank lending rates but its evident that the private sector is not responding to such developments; commercial bank lending rates have ranged between 18. 5% and 33. 5% as indicated by the Governor of the BOG. This has been a major concern for small and medium scale enterprises that cannot access loans at these exorbitant rates to expand their activities High interest rate may lead to increase in debt ratio that is, when interest rate is set high, cost of governments borrowing increases, interest payments increases and total debt increases. When government wants to finance its debt, it either prints out or borrows money to finance its debt. However if the government wants to avoid the former which usually leads to inflation, it falls on borrowing to finance its debt. Th ese borrowings also attract interest payment which increases the total debt payment in economy.For instance, profile of interest rates in Ghana reveals the real rates ranging from 10% to 21. 7% in 1996 to 1999. The high rates which are more than 100% between 1996 and 1999 worsen the debt burden. It is clear that since1997, borrowing from domestic sources was not even enough to finance the deficit as a result of high interest payments, thus for the last half of the 1990’sthe country had to borrow externally and/or print money to finance the deficit. For instance, in 1995 change in domestic debt was 200. 9 billion cedis but interest payment was 232. billion cedis which is over and above the change in domestic debt. As in year 2000 change in domestic debt was just 855. 5 billion cedis but interest payment was1446. 2 billion cedis over and above the change in debt. Consequently, as a result of the borrowing (i. e. domestic and external) it contributed to a high rate of growth of our debt that led to a state of bankruptcy in which the government failed to honour its debt obligation. As a result, in 2001 the Ghanaian economy was declared H. I. P. C. ?The need for the government to make interest payments on large debt may contribute to inflation.For example ,inflation may result if the government decides to finance interest payment, not by collecting taxes, instead by borrowing. For instance, prior to year 2000, the government of Ghana depended on borrowing to finance its debt as a result inflation recorded at that period was very high ( i. e. 41%). ?At very high rate of interest people hold bonds or save money rather than investing. Inflation occurs as a result of higher prices of goods and services, cost of living become very high, the poor and low income earners suffer economic hardships.Between 1980 and 1983 in Ghana, inflation was very high not forgetting interest rate as well. This led to economic hardships in 1983. ?High interest rate deprives both loca l and foreign investors from investing in the economy. This disturbs economic growth and development. In Ghana, when interest rates are high foreign investors invest in capital goods rather than in productive ventures. In spite of the consequences of high interest rate, there are also some benefits. The truism that high interest rate contributes to high inflation rate reduces unemployment ratio in the economy.In Ghana for instance, the economy has achieved respectable rate of GDP growth averaging over 4% in the 1990s as compared to the negative average growth rate over the period 1970 -1983. However, the average inflation rate fell to about 19% in 1998 relative to 122% in 1983 due to increase in employment levels or a reduction in unemployment levels as one of the factors responsible for this trend. ?High interest rate serves as a tool for monetary control in the economy. Through the use of the open market operation (OMO), where the economy is operating beyond its full employment le vel.That is when it is considered as being hot; the rate of interest can be increased by the central bank in the purchases of previously issued governments bonds. This mops up excess liquidity thereby reducing the money supply in the economy. The result is that demand for money now exceeds money supply thereby bidding up interest rate. This slows down the growth rate to an acceptable level enabling the economy to operate at full employment level. ?During periods of high interest rate, financial institutions records very high turn-overs. Governments tend to earn high tax revenue through taxes charged on banks’ turnovers.The bank of Ghana’s annual report (1997), recorded a high turn-over as a result of high interest rates as shown in the table below . The Central Bank maintained its rediscount rate at 45. 00per cent throughout the year under review. Money market rates were also fairly stable in the year. The 91-day Treasury Bill discount rate for example remained at 42. 80 per cent through November before declining to 42. 48 per cent at the end of the year. The commercial banks’ borrowing rates were also generally stable throughout the year. Rates for savings deposits moved up slightly from 22. 50-31. 0% to 22. 50-32. 00% and the range for call money from 25. 00-31. 00% to 24. 00-34. 00% per annum. The bank’s lending rates however, showed some upward trends. Rates for the Agricultural sector (usually the lowest) moved up from 30. 00 –47. 00% to 35. 00 – 49. 00% per annum while that for the miscellaneous (usually the highest) rose from 41. 50 – 48. 00% per cent to 41. 50 – 51. 00% per annum. INTEREST RATES (Percent Per Annum) 1994199519961997 DecemberDecemberDecemberDecember 1. CENTRAL BANK a. Rediscount Rate (Bank Rate)33. 0045. 0045. 0045. 00 b. Treasury Bill Discount Rate(91days)29. 040. 5042. 8042. 48 2. DEPOSIT MONEY BANKS A. Borrowing Rates. (%) i. Demand deposits4. 00-13. 445. 00-10. 005. 00-10. 005. 00-15. 00 ii. Savings Deposits13. 75-22. 5021. 50-31. 0022. 50-31. 5022. 50-32. 00 iii. Time Deposits 1 month22. 00-26. 5026. 00-32. 5029. 00-37. 0029. 00-37. 00 3 months14. 50-31. 0025. 00-36. 0025. 00-40. 5025. 00-39. 00 6 months14. 75-31. 0022. 75-37. 0032. 00-39. 2532. 00-39. 50 12 months14. 00-31. 0023. 50-36. 0027. 75-39. 5027. 75-39. 75 24 months22. 00-29. 2524. 00-35. 0027. 50-35. 0024. 00-35. 00 36 months26. 50-29. 0035. 0035. 0030. 00-38. 00 iv.Certificate of Deposits13. 75-24. 5023. 50-37. 0025. 00-37. 0025. 00-37. 00 v. Call Money25. 00-33. 5024. 00-34. 00 vi. Any other20. 00-24. 0022. 50-25. 0022. 50-33. 0022. 50-33. 00 B. Lending Rates. (%) i. Agriculture, Forestry & Fishing22. 50-35. 5028. 00-47. 0030. 00-47. 0035. 00-49. 00 ii. Export Trade20. 38-35. 5034. 25-47. 0030. 00-47. 0035. 00-49. 00 iii. Manufacturing26. 00-35. 5033. 00-47. 0039. 00-47. 0039. 00-49. 00 iv. Mining & Quarrying29. 00-37. 5030. 00-47. 5035. 00-47. 5035. 00-49. 00 v. Construction29. 00-37. 5039. 00-47. 5041. 00-47. 5041. 50-49. 00 vi. Other Sector29. 00-37. 039. 00-47. 5041. 50-48. 0041. 50-51. 00 Source: Bank of Ghana During the year under review, total outstanding credit granted by commercial banks to public institutions and the private sector increased by ? 474. 8 billion or 64. 8 per cent to ? 1,207. 2 billion. This compares with an increase of ? 299. 8 billion or 69. 3 per cent in the previous year. The Commerce and Finance sector recorded the highest increase of ? 84. 5 billion followed by Cocoa Marketing sector which registered an increase of ? 78. 2 billion. Significant increases were also recorded in outstanding credit to Manufacturing (? 1. 5 Billion), Construction (? 53. 2 billion), Services (? 49. 7 billion), Mining and Quarrying (? 36. 7 billion) and Import Trade (? 18. 8 billion). Credit for Cocoa financing showed an unusually large increase as a result of financial accommodation given to COCOBOD in the face of a larger than expected crop size. In conclusion, the various levels of interest rate (that is high or low) affect the economy in diverse ways (i. e. positively and negatively). However the optimum benefits derived from those varying levels of interest rates depends on prudent economic management.The interest rate problem does not rest with Government and the Bank of Ghana only but also the commercial banks. The rising rates of interest are acts perpetuated by the banks for more profit and these rates charged by the commercial banks are just too high and that is what hurt investors. In addition, the banks impose charges and commissions which are completely inexplicable. REFERENCES: ?Business and Financial times issue number 689 ?Bank of Ghana Annual report (1997) ?The state of the Ghanaian economy (2004) ?The internet (Nii K. Sowa, CEPA, Inflation and interest rate fixation in Ghana) ?Article by Ampong Owusu Kwabena -Bsc engineering KNUST, Masters in international business (NORWAY), and Masters in Financial Economics (NORWAY). ?Man aging Ghana’s Dept. – Nii K. Sowa, CEPA, Accra ?Henderson and Poole; Principles of Economics ?David C. Colander: Economics ?Miller, R. L and D. D. Van Hoose; Money, Banking and Financial Market ? Miskkin F. S: The Economics of Money and Banking and Financial Markets ? Dr. Henry D. Jackson: An Introduction to Macroeconomics 1999 ? Dr. Henry D. Jackson- McConnell Brue: Economics, 5th Edition.