Millers Tale Essays - The Canterbury Tales, Anglo-Norman Literature

Miller's Tale Courtly Love in Chaucer and Marie de France In his The Miller's Tale Chaucer presents a side of the courtly love tradition never seen before. His characters are average middle class workers rather than elite nobility. There is an interesting comparison between the Miller's characters and those in two of Marie de France's lais that share very close plot lines. Instead of being idealized Chaucer's characters are gritty. Instead of being involved in courtly love there is some evidence that the relationship between Alison and Nicholas is one of lust. Chaucer's use of the lower class makes the absurdity of what they are doing stand out. In the lais of Marie de France, Guigemare and Yonec, are built on the same archetype which is the same as Chaucer's Miller's tale uses. Marie's lais can give provide a set of ground rules for this archetype. The two lais share several similar elements. They both contain the same three central characters, who possesses fundamental similarities, the same beg inning plot line and several of the same themes. The first character shared by the two lais is the story's villain, the aged husband. He is a powerful lord who is much older than his wife. Because he is conscious of this fact, he worries constantly that his wife will betray him, so he locks her up. He is both the least and most important figure in the story. He's important because without his presence and actions the story could never take place. But he has very little actual interaction with the other two more central characters. The husband in Yonec is never described as meeting either his wife or her lover. In Guigemare the husband, wife and Guigemare are only together when the two lovers are discovered. The figure of the beautiful, imprisoned wife is the second central character. She is the quintessential damsel in distress, beautiful, noble (and with the exception of her one true love) chaste. The third character is the valiant lover who rescues the unhappy and imprisoned damse l. In both Guigemare and Yonec this character is a knight, and like his lover, the damsel in distress, he is the stereotypical knight in shining armor. He is described as being afflicted by love, and says he will die without it. He will go to any extent for his true love. As with characters both Guigemare and Yonec share a similar plot line. The young wife is locked up by her jealous husband. Then by some magical means her lover is transported to her. After some protestation from the woman, and some wooing from the knight, the two become lovers, until they are discovered and separated. After this point the two plots diverge. Also central to both stories is the idea that these extra-marital affairs are not improper. In Guigemare, the lady's maid says to the knight: The man who wishes to love my lady must keep her constantly in his thoughts and, if you remain faithful to each other, the love between you will be right and proper. (pg. 49) Obviously fidelity is important, but not forced fidelity. Love is more important than marriage in these lais. It's also important to note the chastity of the lovers. There is no mention of contact between the imprisoned wives and their husbands. In Yonec the Lord of Caerwent takes his wife for the purpose of child bearing, but she is imprisoned for seven years before meeting her lover and no children are evidenced from the text. Guigemare has never been in love before he meets his true love. This gives the love and actions between the pairs seem even more pure, and also makes it seem to be less sinful. Love is a powerful force in both these stories. It is not only the driving force behind the character's actions, but it also causes them physical affliction. Marie de France writes in Guigemare: But love had now pierced him to the quick and his heart was greatly disturbed. For the lady wounded him so deeply he had completely forgotten his homeland. . .The knight remained alone, mournful and downcast. He did not yet realize the cau se, but at least he knew that, if

Sex Tourism in Thailand Essays

Sex Tourism in Thailand Essays Sex Tourism in Thailand Paper Sex Tourism in Thailand Paper The Southeast Asian region is one of the most dynamic tourist destinations in the world. Hordes of Western visitors visit the region for its scenic spots, warm climate, and unique culture. This influx of visitors creates employment opportunities for the locals and augments the income of the poor. More importantly, tourists bring with them currencies that are needed by countries to engage in international trade. In Thailand, tourism revenue amounts to six percent of the countrys gross domestic product of US$196. 6 billion. While tourism is greatly encouraged for the benefits it brings to the countries of destination, it also has its dark side. Not all of the tourists who visit Asia are in the region to do what ordinary tourists do. Some of them are in Asia to seek a different kind of entertainment that traditional tours dont provide. Men, being enterprising by nature, have created another purpose for tourism by linking it with prostitution in what is commonly known as the sex tourism industry. As the term implies, it uses commercial sex as a come-on to visitors. Thus, tours are not solely organised to visit historical venues and picturesque spots, theyre also conducted to provide foreigners access to the red light districts. Sex tourism is loosely defined as engaging the services of prostitutes for carnal pleasures typically by tourists from affluent countries. The United Nations World Tourism Organization unit describes sex tourism as organised trips under the guise of common tours with the primary purpose of providing tourists commercial sexual activities with residents in a particular destination. Despite the enactment of an anti-children prostitute law, minors are still engaged in this trade. Sownia Nairs essay written for the U. S. Department of Justice in 2007 and the Royal Thai Embassy in Washington will be cited to provide perspective on the issue. Like other studies, this paper found a correlation between poverty and prostitution. But in addition, this paper will also probe if sex workers are willing participants or theyre doing the trade for other reasons. In this regard, Justin Halls Prostitution in Thailand and South East Asia will be cited to relate women experiences in the trade. A study conducted by Cholthira Satyawadhna will also be referenced in explaining gender-based labor division in Thailand and its relation to prostitution. Health concerns will always be involved when commercial sex is the issue. Thai sex workers are among the worlds high-risk groups to contact the deadly HIV/AIDS virus. In the late 1980s, an AIDS epidemic spread throughout Thailand as sex workers and drug dependents who were infected spread the disease to their customers, wives, husbands, partners and children. As a result, the government launched a massive campaign to control the situation. A report from the international organisation AVERT and other groups are used to trace how AIDS spread in Thailand and what control measures where implemented by the government to stop the disease. Sex Tourism 6 Prostitution: History Current Situation Chinese voyager Ma Huan alluded in 1433 about a certain practice by some Thai people that could be likened to prostitution. In 1604, Dutch visitors to the country have certainly mentioned in their records that there are whores in Siam (Thailands old name). There are no records, however, that points to how this trade exactly started. The point is, prostitution has long been practiced in the country. Anthony Reid, a distinguished Australian scholar of Southeast Asian history, has cited that what appears to be the beginning of brothels in the country was in the 1680s when a Thai official was given a monopoly to run a prostitution den using hundreds of slave women as sex workers. During those times, majority of the customers were locals and some were Chinese. In the twentieth century, Western involvement in Thailands sex trade began when American soldiers came to the country during their rest and relaxation period from the Vietnam War to find solace and entertainment, which they generally found on cabarets with English names. These clubs have thousands of hostesses that the soldiers can have in exchange for a sum of money. As for the Japanese people, it was the soldiers in the Second World War that first came in contact with the Thai sex workers. In fact, it was the Japanese conquerors who forced women from captive lands to engage in sex.

One Die, Two Dice

One Die, Two Dice One Die, Two Dice One Die, Two Dice By Maeve Maddox Mickey Bayard has questions about the words die and dice. A friend and I are in dispute over the expression, The di (die , dye) is cast, we have crossed the Rubicon .   Ã¢â‚¬ ¦our conflict is over the use of di. I feel it is the singular of Dice , and therefore means the casting of a single dice or di. My friend argues that it is related to a Die cast i.e. A Sword cast in metal from a die. Both seem plausible and the spelling should help , but I have seen it both ways .So many people must be confused as well. First, Caesars frequently quoted statement is usually rendered as The die is cast. Alea iacta est (also alea jacta est, Latin: The die has been cast) is a Latin phrase attributed by Suetonius (as iacta alea est [ˈjakta ˈaË lea est]) to Julius Caesar on January 10, 49 BC as he led his army across the River Rubicon in northern Italy. Wikipedia Gambling was a favorite Roman pastime so Caesars metaphor was easily understood. Fate controlled the roll of the dice. By crossing the Rubicon, Caesar initiated the events that would play out in the civil war to follow. The plural of this kind of die is dice. I dont know about swords, but coins and other objects are cast from a die: An engraved stamp used for impressing a design or figure upon some softer material, as in coining money, striking a medal, embossing paper, etc. The plural of this kind of die is dies. The word die may come from Latin datum in the sense of that which is given or decreed [as by lot or fortune]. The dots on dice are indented. The sense of stamping block or tool for die was first recorded in the 1690s. There is historical precedent for using the plural dice as a singular, as in this example from the OED: 1751 MRS. E. HEYWOOD Hist. Betsy Thoughtless IV. 202 Protesting never to touch a card or throw a dice again. Contemporary gamers frequently use dice as a singular: The probability of one dice being a particular number is 1/6. The player may use either ONE DICE or THE OTHER, instead of adding both Dice together, to increase their count. Each player keeps one dice. This use of dice to refer to one of the dotted cubes has recently crept into directions for games intended for general audiences. The use of dice as a singular noun strikes my ear as incorrect, but I suspect that it will eventually become the norm. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Vocabulary category, check our popular posts, or choose a related post below:"Based in" and "based out of"Difference between "Pressing" and "Ironing"Is "Number" Singular or Plural?

History of each instrument Essay Example | Topics and Well Written Essays - 500 words

History of each instrument - Essay Example The standard flute had six holes and one key divided into three sections. This changed when Theobald Boehm changed the flute in the 1830’s. He developed a cylindrical flute with 15 tone holes, 23 keys, and levers. Keys were also arranged where almost all holes opened naturally. The Boehm Flute has remained unchanged and is used to this day. The oboe is also in the woodwind family. The first reed instrument was made by Egyptians. Initially barley straws pressed flat and then placed into a small pipe were the first oboes. Romans had instruments of similar make. By the 12th century, a short double-reed instrument made its appearance. The 14th century saw the instrument change. Finally in the 17th century the instrument was made into the modern oboe. The Hotteterre family made the first oboe with three sections and six keys and hole. This oboe was improved on with more key mechanisms, with the used of nine keys. Another woodwind is the clarinet. One of the first instruments resembling a clarinet was found in Greece, Persia, and India. It was a round pipe with one reed. The Celts made a clarinet out of animal bones with seven holes. These instruments evolved into the 16th century to instruments with eight finger holes/two keys called a chalumeau. John Christopher Denner changed upon the instrument in the late 17th century by adding a special key. More keys were added through the Boehm system of keys in the 19th century. This version is still used today. The Bassoon is in the woodwind family. The forerunner of the bassoon was created by B.C. Egyptians. Barley straws were pressed flat, and then placed in a small pipe. Later holes were added. The Romans had a similar instrument called a tibiae. The shawm was formed in 12th century Europe. This was a short double reed with a conical bore and a wide bell. This came from the East to Europe. The 16th century was when Alfranio Canon of Ferrara

Christianity Essay Example | Topics and Well Written Essays - 1000 words

Christianity - Essay Example of Wittenburg literature, philosophy and theology Died 18 Feb. 1546 July 31, 1556 (Religion Facts, 1) (Famous People, 1) Message salvation is a free gift absolute self-abnegation, â€Å"love and compassion, from God; the Bible is the obedience to Pope and universal promise of only true source of superiors (ibid.) help and protection to Divine message all mankind† (Our (Religion Facts, 1) Lady, 1) Contribution Protestant Reformation Spiritual Exercises, conversion to Chris- Translated to English the Jesuit Constitution and tianity, miracles, cures, King James Bible; Jesuit Schools, interventions, millions Lutheran teachings and Society of pay homage to her (Our (Religion Facts, 1) Jesus (ibid.) Lady, 1) From the tabular form, one can deduce that the earliest account of significant event happened during the birth of Luther in 1483, only eight years prior to the birth of Ignacius in 1491. The apparitions of Our Lady of Guadalupe in 1531 happened within 25 years prior to Ignacius death, which means that during the apparitions, Ignacius was still very much alive and just finished his writing of one of his most significant contributions, the â€Å"Spiritual Exercises, a simple 200-page set of meditations, prayers and various other mental exercises† (Famous People, par. 16). Their birth similarly occurred prior to the 16th century. Luther was born in Saxony while Ignacius was born in Spain. The date of death was only 10 years apart, where Luther died in 1546 while Ignacius died on 1556. Both Luther and Ignacius studied theology. Although the messages were diverse, where Luther focused on transforming the belief in the Catholic faith that God’s punishment could be redeemed by money and that salvation earned through good deeds (Religion Facts, 1); while Ingacious, due to his similar orientation in the priesthood, was actively involved in â€Å"teaching catechism to children, directing adults in the Spiritual Exercises, and working among the poor an d in hospitals† (Famous People, par. 14). There is disparsity in their commitment where Ignacius focused on uplifting the conditions of the poor through whatever means they were capable during their times. Luther, on the other hand, was focused on reorienting the belief in the Catholic Church that previously stressed on â€Å"on purgatory, hell, angels, demons, sin, judgment and the saints. Jesus was depicted as an unapproachable, terrifying judge, but believers knew they could call upon the Blessed Virgin and other saints to intercede on their behalf† (Religion Facts, par. 2). Likewise, the message of Our Lady of Guadalupe centered also in according universal assistance and protection of all mankind (Our Lady, 1). Their contributions range from movements and formation of organizations that paved the way for increased awareness of the need for reformation of the true meaning of salvation, enhanced awareness of the word of God through the Bible (Luther); and through the organization dedicated to the commitments and endeavors of the Holy Father (Society of Jesus) and the set of prayers needed to remain steadfast in faith (Ignacius). Our Lady of Guadalupe’s apparition has set the time for miracles to happen through cures and interventions that converted nonbelievers. As indicated, â€Å"

Aim and objectives of different type of businesses Essay Example for Free

Aim and objectives of different type of businesses Essay When a business first starts trading it has few loyal customers and no reputation. The most likely objective for a start up business is simply survival. As the business grows and begins to win market share, the aim may shift towards expansion and increasing profits. Without aims and objectives there is no meaning to the business. The objective of both things to make business work even better than what it would normally do. An aim Where the business wants to go in the future and its goals. It is a statement purpose. Like want to grow the business in to Europe Objectives- give the business a clearly defined target. Plans can then be made to achieve these targets. This can motivate the employees. Its also enable the business to measure the progress towards its started aims The most effective business objectives meet the following criteria: Specific -clear and easy to understand. Measurable i.e. able to be quantified. Achievable possible to be reached. Realistic not pie in the sky. Time bound associated with a specific time period. An example of a SMART objective is to increase profits 10% within the next 12 months. SMART objectives allow the performance of business to be identified. Purpose- the purpose of having aim and objectives is to plan a way forward which will help them to establish the future state of works in other word, how their business will be in a few years time part of this handle is planning. So they have an uncertain concept that how they will achieve that certain goal and status in the business in few years time Another purpose of setting aims and objectives is to measure the performance, for example, how much profit they have made in the last year, so they know that they are doing better or worse than last year. They will provide information to those who are interested, which will lead to encourage them to do better. Break even- is the point at which cost or expenses and revenue are equal. For example, if a business sells fewer than 200 tables each month, it will make a loss, if it sells more, it will be a profit. With this information, the business managers will then need to see if they expect to be able to make and sell 200 tables per month. Survival- Diversifying- diversify your business by natural progression. For instance, if you sell men’s shirts, adding ties and cufflinks to the range are an obvious next step. More radically, you extend the brand by offering a much wider range of products that will nonetheless appeal to the same customers. Alternatively, you can use the strength of brand to move into new markets. Cost cutting- here is significant ways to save money without compromise: Don’t waste time- As a small business owner, you put in a lot of hours, but time is still a limited resource. Wasting time can cut into your sales and hurt your bottom line. As a general rule, anything that you can implement to save time will also save you money in the long run. Cut Out Paper- According to research by Xerox, about 40% of office paper is discarded within 24 hours of anyone printing on it. If you add up how much you spend on printing supplies, paper, and labor, you’ll quickly see that using electronic file storage can save you loads of money. Shop Around for Insurance There are a lot of great ways to lower your insurance costs, but the most important step is to find and compare insurance policies. You should always be looking for the best rates out there, especially at renewal time. http://www.slideshare.net/tariqmehsud/nikes-presentation http://education.cambridge.org/media/576464/business_and_management_for_the_ib_diploma___ca\mbridge_education___cambridge_university_press_samples.pdf

Graduation Speech -- Graduation Speech, Commencement Address

I once read that life is well represented as a pearl deep within an oyster. The pearl symbolizes each person's potential, or the things that are going well for them in life. Just as a mere grain of sand that enters an oyster can grow into something of great worth, there is a fragment of excellency within every one of you that over time can be shape you into an individual who will make a difference in the world. There will be trials and hardships to overcome along the road to making a difference, but consider what Hellen Keller once wrote, "The marvelous richness of human experience would lose something of rewarding joy if there were not limitations to overcome. The hilltop hour would not be half so wonderful if there were no dark valleys to traverse." It is true that undergoing hard work in order to achieve one's dreams makes the arrival at success even more gratifying. Our lives are books to which each of us is our own author. We are the ones who write each chapter of our life. The best chapters are yet to be written and among them are talents yet to be discovered. We all po...

Preschool Age

During preschool age, physical growth begins to slow down. It is much slower than it was during infancy. Children at the early childhood stage, children start to become taller and leaner as they mature. They will look more like adults than like infants by the end of early childhood. â€Å"During the ages two to six, children make great strides in the development of gross motor skills, which involves the large muscles used in movement â€Å"(Rathus, 2017). At four years old, she has a more complex physical development using both gross and fine motor skills. She has greater control over large muscles, such as her arms and legs. She is also able to coordinate multiple tasks at the same time, such as singing and building blocks as opposed to when she was a toddler. She is much more coordinated in her play than the younger children around her. In early childhood, children appear to acquire motor skills by teaching them selves in observing the behavior of other children and adults† (Rathus, 2017, p. 255). Thus, fine motor skills develop more gradually. Fine motor skills are all the small muscles used in manipulation and coordination. Control over the wrist and fingers enable children to, write, dress themselves and in her case the ability to stack blocks. While observing the child's use of language, her comprehension and use of words is more sophisticated, she can make sentences and can understand what others are saying. She can talk in clear speech. She is quite self-assured and can understand the concept of conversation. Her language is more mature, her memory and imagination has developed and she is able to think more symbolically. Children's language skills develop radically during the preschool years. Between the ages of three and five, egocentric speech starts to disappear. The child's conversational language starts to show sensitivity to the listener, for example, the subject was taking turns talking and listening to her fellow classmates. By that age of four years old, some milestones children develop are the ability to ask adults and each other questions, taking turns talking, and partaking in longer conversations. â€Å"They have vocabulary of 1500-1600 words. They're speech is fluent and their articulation is also good. Children can use five or six words in sentences and can now coordinate two sentences together† (Rathus, 2017 p. 301).

Nigerian Economy: Macroeconomic Analysis

sisNigeria – Country Report 2012 61310039 Indian School of Business 7/6/2012 Contents Economic Overview3 Gross Domestic Product (GDP)3 GDP Composition4 Inflation4 Shadow Economy5 Trade Overview5 Foreign Debt7 Labor Market & Human Capital7 Population and Income Inequality8 Unemployment9 Currency10 Money Supply and Monetary Control10 Fiscal policy12 Exchange rates12 Interest Rates13 Foreign Direct Investment14 Globalization and Comparative Advantage14 Conclusion15 References16 Economic Overview Nigeria's economy is estimated to be worth about $262bn, making it one of the largest economies in Africa.The estimates and analysis of various indicators is discussed in the later sections. The country has fared better than many other countries during the global economic downturn, but systemic problems in infrastructure and the labor market mean that its position in the Economist Intelligence Unit's global rankings remains towards the bottom during the forecast period, at 75th out of 82 countries. Efforts to create a significantly more attractive business environment are likely to produce only modest results owing to the slow pace of more fundamental reforms. Nigeria has taken steps to simplify trade by working on its tariff structure.However, there is still a protectionist sentiment in the country. Cross border smuggling is still a major concern and is liable to remain an important feature of the Nigerian economy. The capacity and efficiency of Nigerian ports (Trade) have improved following the implementation of an ambitious concessioning program that transferred management of terminals to private operators. However, although the reforms have improved port operations and ship turnaround times, there remains the problem of corruption in the customs service, which can complicate and delay the clearance of goods. Gross Domestic Product (GDP)The latest GDP projection data as brought out by World Bank is $ 268. 5 billion (2013 F) and the country population is projected at 175 million translating into a GDP/Capita to 2,213. The Real GDP Growth for Nigeria has been at 6. 8 %. However, considering the disparity in the country’s infrastructure viz-a-viz other Asian developing nations the growth rate is not enough for substantial improvement. Nominal GDP| 2007| 2008| 2009| 2010| 2011| 2012(F)| 2013(F)| US$ bn| 166. 5| 208. 1| 169. 4| 196. 3| 244. 2| 262. 4| 268. 5| N bn| 20,941| 24,665| 25,225| 29,498| 37,590| 42,877| 46,720| Real GDP growth %| 6. | 6| 7| 7. 8| 7. 4| 6. 4| 6. 9| Source: Economic Intelligence Unit| GDP Composition In Nigeria, the Investment component of the GDP as compared to the private consumption and government is very low, hovering at 17 % approximately. A developing market is required to invest around 40 to 50% of GDP in capital investment for successive number of years. However that is not seen with Nigeria. Hence, the prospect of Nigeria as an investment destination appears to be grim in the near future. | 2007| 2008| 200 9| 2010| 2011| 2012 F| 2013 F| Private consumption| 6. 6| -34. 3| 6. 4| -26. 7| 11. 8| 9. | 10. 4| Government consumption| 90. 8| 4. 4| -8. 1| 17. 8| 12| 8. 5| 8| Gross fixed investment| 24. 5| -6. 8| 9. 1| -3. 6| 6. 5| 6| 6. 5| Exports of goods & services| -11. 7| 43. 4| -30| 11. 4| 11. 9| 10. 4| 12. 4| Source: Economic Intelligence Unit| The graph below gives the GDP contribution – Industry wise for Nigeria. Crude is one of the major contributors to the GDP. Hence, and rate fluctuations in the price of crude oil have added volatility in the Nigerian GDP. Inflation Despite monetary tightening carried out by the CBN in 2011, the forecast for inflation remains negative.Inflation is expected to increase to 12. 7% in 2012. Fiscal laxity by the states is one of the main reasons for this. In addition, the payment of the newly instituted minimum wages and the injection of funds into the bailed out banks, inflationary pressure is bound to continue for the rest of the year. It is exp ected moderate only in 2014 as a result of moderation in commodity prices. The April 2012 inflation data as obtained shows a Month-on-month inflation to be (0. 13%), Year-on-Year (12. 9%), 12-Month Avg. Chg. (11. 1%). The inflation rate is exceedingly high and is detrimental towards investment in the country.The Consumer Price Index and Nigerian Inflation rate is shown below. Source: Economic Intelligence Unit Shadow Economy The untaxed and unregulated revenues – by some estimates – account for between 40% and 45% of gross domestic product (GDP). Nigerians make most of their living, as street hawkers, minibus drivers, money changers or market traders. In spite of the abysmal performance of the country’s economy, poor infrastructure and unfriendly business environment Nigeria has huge potentials to be tapped because of its huge deposits of Natural Resources nd population that can be gainfully employed. The black economy accounts for a large part of the Nigerian e conomy. Trade Overview Nigeria has considerable natural resources such as oils, and the revenue from oil exports forms a major chunk of the Government fund. Nigeria has recently started a sovereign wealth fund and the excess returns from oil exports viz-a-viz projected returns is directed to this sovereign fund. This fund is building up at a slower pace as the revenue is being directed towards meeting government excess spending to meet the countries capital requirement.The country has been putting efforts to tighten the fiscal policy and the same has been reflected in their medium-term expenditure framework. The country has projected a year-on-year budget deficit of 1% of GDP. However, from the recent trends it appears that Nigeria will be able to sustain a year-on-year budget deficit of 2% given the prices of oil remain stable even though the current European turmoil and a slowdown in china can push oil prices down and lead to further increase in Nigeria’s Fiscal deficit.Nig eria intends borrowing from the international capital market for meeting its capital expenditure requirement in the near future. The total value of Nigeria's exports in the first quarter of 2012 is at about USD 30 billion, the exports to India has reached USD 4. 2 billion, compared to USD 3. 7 billion credited to the US in the period under review. Nigeria's export to India is mostly crude oil and cashew nuts while India exports pharmaceutical goods, machinery, electronics and rice. The US was trailed by the Netherlands with USD 2. billion, followed by Spain with USD 2. 4 billion and Brazil which recorded USD 2 billion. Nigeria is a member of the WTO and does not impose permanent import restrictions however it has a huge banned list of import goods which coupled with ad valorem tariffs have given rise to increase in smuggled goods. As such the restrictions do not seem to have benefited the local industries. There are specially designated export processing zones which provide benefits from tax, duties, foreign exchange restrictions and import-export restrictions.The Nigerian Export Credit Guarantee and insurance corporation (Nexim) provides insurance under the government’s export guarantee scheme. This has helped exporters in raising funds at subsidized rates for refinancing. Nigeria figures 133rd on the Doing Business in Index among 183 world economies and 15th among the 46 sub Saharan African economies. The trade balance of Nigeria for period 2007 to 2011 and forecasted data for 2012 and 2013 is given below. | 2007| 2008| 2009| 2010| 2011| 2012(F)| 2013(F)|Trade balance| 37,748| 45,885| 25,342| 20,237| 34,528| 34,131| 28,778| Goods: exports fob| 66,040| 85,729| 56,121| 73,698| 103,847| 114,068| 111,836| Goods: imports fob| -28,291| -39,844| -30,779| -53,461| -69,319| -79,937| -83,058| Services balance| -16,902| -22,113| -16,479| -19,231| -24,761| -24,278| -25,914| Income balance| -11,747| -15,059| -14,404| -18,623| -22,905| -20,913| -24,624| Current tra nsfers balance| 18,545| 19,366| 18,694| 20,092| 25,004| 27,387| 28,562| Current-account balance| 27,643| 28,079| 13,153| 2,476| 11,867| 16,327| 6,802| Source: Economic Intelligence Unit|Nigeria and its neighboring African nations have imposed strong continental Trade Barriers which is depriving the continent of new sources of economic growth, new jobs and leading to a sharp fall in poverty and other factors. However, many African countries are losing several billions of dollars in potential trade earnings every year, because of high trade barriers with neighboring countries. It is easier for Africa to trade with the rest of the world than with itself.The Policy progress in the nation has been restricted due to political instability and tussle between the presidency and senior economic team. Policies towards changes in exploiting the proceeds from fuel exports are always the concern restricting policy improvements. The country has huge limitation in the power sector and the governmen t has initiated privatization program focused mainly on the power sector, However the progress has been slow as a result of private-sector reluctance, the various vested interests involved and strong union opposition.This is limiting foreign investments in Nigeria. Nigeria urgently requires Tax reform for attracting investments in the country and this policy reform is high on the political agenda. However due to conflicting interests and the fragile nature of the Nigerian administration reforms are expected to be slow. Foreign Debt Due to the economic slowdown public sector revenue and expenditure has contracted in the past 3 years. As a result of the budget deficit, infrastructure is facing acute shortage which is mostly financed by internal public borrowing while also seeking access to external funding.The Nigerian government has set on the path of prudent reforms to reduce total spending while improving funding for capital requirements for efficient spending that will translate t o long term economic growth. The government also launched a Euro denominated bond in 2011 and expects to return to the international debt capital markets again in the next few years. Labor Market & Human Capital The education system of Nigeria is in a poor state unable to meet the educational requirement of the country. There are currently only 46 tertiary institutions in Nigeria providing education covering all functional areas.Out of the 42m Nigerian children who ought to be in primary school, less than 24m are in school. Out of the 33. 9m children of secondary school age, only 6. 4m are in secondary schools. The pass rate for JAMB examinations is about 20% – indicates poor quality of secondary school graduates. The educational system has not been tailored to meet developmental needs of the nation. Any foreign investment has to transfer both funds and human capital to the country. There are no improvements visible in the near vicinity.The Nigerian Labor market is marred wit h constraints and there appears little prospect in the near future of resolving many of the key constraints to improving the labor market in Nigeria. Most of the talented Nigerians prefer to move out of the country and the country is suffering from a ‘brain drain’. Nigeria has a large number of very capable professional and highly skilled workers in a range of sectors. Unfortunately for the country, large numbers, particularly in the medical profession, live and work overseas, and the restoration of civilian rule in 1999 has failed to bring an end to the brain drain’. Although labor law reform in 2005 weakened the capacity of the unions to organize political or sympathy strikes, the labor movement remains powerful, capable of organizing paralyzing national strikes. Value of indexa| | Global rankb| | Regional rankc| | 2006-10| 2011-15| 2006-10| 2011-15| 2006-10| 2011-15| 4. 4| 4. 6| 80| 80| 16| 15| a Out of 10. b  Out of 82 countries. c  Out of 17 countries: A lgeria, Bahrain, Egypt, Iran, Israel, Jordan, Kuwait, Libya, Morocco, Qatar, Saudi Arabia, Tunisia, UAE, Angola, Kenya, Nigeria and South Africa. Source: Economic Intelligence Unit| Population and Income Inequality The population in Nigeria is growing at a very fast pace, but given the poor state of the countries health care and educational system, this is only constraining the already dismal state of the country the growth rate is presented below, the high rate of population growth and the deteriorating state of infrastructure is not conducive enough for enticing foreign investment. Population (Million)| 2006| 2010| 2015| Total| 140. 4| 152. 2| 166. 7|Period averages (%)|   | 2006-10| 2011-15| Population growth|   | 2. 1| 1. 8| Labor force growth|   | 2. 4| 1. 9| Source: Economic Intelligence Unit| Poverty in Nigeria remains significant despite high economic growth. Nigeria retains a high level of poverty, with 63% living on below $1 daily, implying a decline in equity. There have been attempts at poverty alleviation, but the inequality has been rising. Income inequality worsened from 0. 43 to 0. 49 between 2004 and 2009. This is correlated with differential access to infrastructure and amenities.In particular, there are more rural poor than urban poor. This primarily results from the composition of Nigeria's economy. Oil exports contribute significantly to government revenues and about 15% of GDP, despite employing only a fraction of the population. Agriculture, however, contributes to about 45% of GDP, and employs close to 90% of the rural population. This incongruence is compounded by the fact that oil revenue is poorly distributed among the population, with higher government spending in urban areas than rurally.High unemployment rates have rendered personal incomes even more divergent. The graph below gives a comparison of the population below poverty line in relation to the total  Nigerian population. Data Source: Economic Intelligence Unit Unemp loyment According to the ‘2011 Annual Socio-Economic Report' released by the Nigerian Bureau of Statistics, the total number of unemployed people have increased from approximately 7 million in 2006 to 16 million in 2011. In 2011, approximately 2. 1 million people were newly unemployed.The report has also predicted the new entrants into the unemployed pool to be around 8. 5 million in 2015. The increase is also interestingly explained by the tendency of Nigerian university graduates to stay away from labor intensive work. They are now ready to wait for a white collar job thus resulting in the entry of new university graduates into the unemployment pool. The total number of employed labor force has remained fairly constant from 2006 to 2011 at around 51 million. However, 10 million new people have been added to the labor force during 2006-2011.The increase in labor force could be explained by the steady increase in the number of universities, polytechnics and colleges of educati on. While the enrollment in universities and polytechnics has decreased from around 460,000 in 2006 to 340,000 to 2011, enrollment in colleges of education has increased during the same period. Whereas the enrollment in state and federal institutions has decreased during 2006-2011, enrollment in private institutions has increased steadily. According to the report, the increase in unemployment rate has been kept in check by Nigerian government's employment policies.The unemployment rate in rural areas was 25. 6% and 17. 1% in urban areas. The total national unemployment rate was 23. 9% in 2011. Total unemployment rate amongst males was 23. 5% in 2011 while the same rate amongst females was 24. 3%. The report explains that married women who previously stayed out of the labor force have now started entering the market for jobs due to a raise in claim for financial independence. More women are also now forced to enter the labor market because of the need to supplement the income of male s in families.The unemployment rate has been consistently growing in Nigeria due to lack of industries, political stability and a myriad of other reasons. Unemployment is leading to crime and shadow economy which is further hindering investments in the country. Data Source: Economic Intelligence Unit Currency The Legal Tender followed in Nigeria is the Naira (sign:  ? ;  code:  NGN). The Central Bank of Nigeria referred as CBN is the sole authority responsible for issuing and maintaining the volume of the currency in the Nigerian economy.The currency was adopted by Nigeria on 1st Jan 1973 replacing the pound that was being followed since the colonial days. Money Supply and Monetary Control The Central Bank of Nigeria (CBN) is the central bank of Nigeria. Since the global financial crisis of 2008-09, maintaining adequate liquidity and averting a total collapse of the banking system has been the main focus of the CBN. The CBN uses the Monetary Policy Rate (MPR) to anchor short t erm money market rates and other interest rates in the economy.Open market operations conducted through the Treasury Bills auction is the major instrument of monetary policy. The CBN also uses discount window operations (including standing lending and deposit facilities, repo and reverse repo operations) and Cash Reserve Ratio (CRR) in monetary management. The banking crisis of 2009 and the subsequent reform initiated in the banking sector has complicated the monetary policy. The central bank also ensures that there is sufficient lending in key sectors such as agriculture.Since 1977, Nigeria has had an Agric Credit Guarantee Scheme (ACGS) under the management of the central bank. The Central Bank of Nigeria (CBN) is responsible for maintaining a balance between its objective of managing inflation and the government's aim of reducing the cost of borrowing by the private sector to encourage investment in productive activities. The CBN is currently pursuing the former objective, having increased its prime interest rate six times during 2011: the Central Bank is attempting to counter what it sees as high inflationary expectations embedded in the system.As the forecast period progresses and the inflation outlook improves, the focus of the CBN will return to easing monetary policy and boosting lending to productive sectors. Nevertheless, this has been complicated by the banking crisis of 2009 and the subsequent reform program put in place by the Central Bank, which is likely to mean that risk aversion among the banks persists into the first part of the forecast period at least. Below is the summary of the key Monetary Indicators for Nigeria. Monetary indicators| 2007a| 2008a| 2009a| 2010a| 2011a| 2012b| 2013b| 2014b| 2015b| 2016b| |Exchange rate N:US$ (av)| 125. 8| 118. 5| 148. 9| 150. 3| 153. 9| 160. 7| 174. 0| 172. 0| 174. 0| 176. 0| Exchange rate N:US$ (year-end)| 118. 0| 132. 6| 149. 6| 150. 7| 158. 3| 170. 8| 173. 0| 173. 0| 175. 0| 177. 0| Exchange rate N:↚ ¬ (av)| 172. 44| 174. 33| 207. 46| 199. 42| 214. 19| 209. 71| 224. 46| 217. 58| 215. 33| 221. 76| Exchange rate N:â‚ ¬ (year-end)| 173. 66| 184. 49| 215. 49| 201. 31| 210. 42| 221. 23| 222. 31| 215. 39| 219. 63| 223. 02| Real effective exchange rate, CPI-based (av)| 38. 05| 42. 32| 38. 59| 42. 11| 42. 74c| 46. 39| 46. 44| 50. 42| 53. 60| 56. 5| Purchasing power parity N:US$ (av)| 71. 31| 80. 30| 88. 60| 99. 68| 115. 8c| 120. 9| 121. 0| 123. 9| 129. 2| 136. 3| Money supply (M2) growth (%)| 58. 1| 53. 6| 20. 6| 3. 7| -0. 5| 8. 7| 20. 5| 19. 6| 17. 5| 18. 5| Domestic credit growth (%)| 358. 3| 55. 9| 41. 1| 14. 1| 28. 1| 7. 9| 21. 5| 20. 7| 18. 2| 17. 7| Commercial banks' prime rate (av; %)| 16. 9| 15. 5| 18. 4| 17. 6| 16. 0| 16. 0| 14. 0| 13. 0| 13. 5| 13. 8| Deposit rate (av; %)| 10. 3| 12. 0| 13. 3| 6. 5| 5. 7| 6. 0| 5. 8| 5. 8| 5. 8| 5. 5| Money-market rate (av; %)| 6. 9| 8. 2| 3. 8| 3. 8| 8. 5c| 8. 8| 7. 0| 6. 5| 6. | 6. 0| a  Actual. b  Economist Intelligence Unit foreca sts. c  Economist Intelligence Unit estimates. Source: EIU| Fiscal policy While Nigeria’s fiscal policy during the last half of the decade has been favoring expansive expenditure in the productive sectors, there is growing pressure to introduce tough, unpopular market reforms to tighten the fiscal policy. However it will be difficult to do so considering the different interest groups that the government needs to placate and wider legislature that favors greater government expenditure to counter the crippling infrastructure deficit.Even as investment in infrastructure remains critical, how the government manages to bring down the share of recurrent expenditures while improving the quality of capital expenditure is the key challenge. Another challenge for the government will be how it manages its dependence on oil prices, the key component of its revenue. A return to recession in Europe or a less than expected growth in China could bring down the oil prices. Exchange rates Th e Central Bank of Nigeria (CBN) has been responsible for managing the exchange rate and this was being done by auctioning of foreign currencies.The CBN sets the exchange rate. However, Nigeria’s currency fluctuations is correlated to fluctuations in the oil prices. In 2007, the Naira saw significant appreciation viz-a-viz the dollar due to increase in Global crude prices. Nigeria’s central Bank intends making the Naira exchange rates floating and policy decisions are being formulated towards this objective. The CBN also intends to make the exchange rate independent to the extent possible and aims at intervening only to meet defined policy objectives.The country has seen a huge depreciation of the Naira in the past 3 Decades, presently owing to the stable and strong crude prices the currency is considerably stable but is forecasted to slip further if the Global Economic crisis continues to deter. Source: http://www. exchangerates. org. uk/ Interest Rates The CBN kept it s benchmark interest rate at 12%. The CBN will find it hard to balance its objective of managing inflation and the government’s aim of reducing the cost of borrowing by the private sector to boost investment.Nigeria has seen a slowdown in economic growth in its economy as a result of slackening in global economic activities. As the tight liquidity condition persists, short term interest rates have been rising for the past couple of years. Another cause of concern for the CBN was the slowdown in interbank lending, which prompted the CBN to guarantee placements in the interbank market. This also helped bring down the interest rates in the short term money markets, such as the interbank call rates.The above table indicates the Monetary Aggregates and Interest Rates as obtained in 2010. Foreign Direct Investment Although the government will continue to welcome foreign direct investment (FDI), the level of FDI outside the oil and gas sector will remain low in relation to the poten tial size of the market. This reflects the complexities of the local business environment, together with the bureaucracy, corruption, low productivity, poor infrastructure and low income levels that restrict the potential market.The salient feature of the policy is enumerated. Full foreign ownership is allowed in all sectors apart from banking, although the Central Bank of Nigeria (CBN) has been more relaxed on the issue since the 2009 crisis in the sector and the subsequent need to recapitalize the affected banks. A new bill proposes to outlaw discretionary awards of oil and gas contracts, and stipulates that licenses must be given through â€Å"open, transparent and competitive† bidding processes.Nevertheless, a number of Asian investors, from China, India and South Korea in particular, who have shown keen interest in entering Nigeria on the basis that they concurrently develop local infrastructure, may still find themselves the preferred bidder on new acreage. There is als o likely to be a continued bias towards policy favoring local business, as evidenced by the recent local content bill for the oil industry that gives indigenous firms priority in the awarding of oil concessions and requires foreign companies to employ more local staff.As a result, and with other countries set to improve more rapidly, Nigeria will slip in the global rankings from 67th to 71st out of 82  countries, and from 12th to 13th in the Middle East and Africa region. Value of indexa| | Global rankb| | Regional rankc| | 2006-10| 2011-15| 2006-10| 2011-15| 2006-10| 2011-15| 5. 1| 4. 6| 67| 71| 12| 13| a Out of 10. b  Out of 82 countries. c  Out of 17 countries: Algeria, Bahrain, Egypt, Iran, Israel, Jordan, Kuwait, Libya, Morocco, Qatar, Saudi Arabia, Tunisia, UAE, Angola, Kenya, Nigeria and South Africa.Source: Economic Intelligence Unit| Foreign direct investment, net inflows (% of GDP) in Nigeria was 2. 99 as of 2010. Its highest value over the past 40 years was 8. 28 in 1994, while its lowest value was -1. 15 in 1980. The below outlines the Annual inflows of FDI along with its percentage composition of the gross fixed investment. (US$ m)| 2006| 2007| 2008| 2009| 2010| 2011| 2012| 2013| 2014| 2015| Annual inflows of FDI| 4,854| 6,035| 5,487| 5,787| 3,000| 3,500| 6,000| 7,500| 7,250| 7,250| % of gross fixed investment| 40. 4| 39. 7| 32. 1| 35. 3| 13. 7| 14. | 20. 5| 20. 9| 16. 8| 14. 2| Source: Economic Intelligence Unit| Globalization and Comparative Advantage Nigeria has not benefited considerably from globalization due to mono-cultural export, inability to attract increased foreign investments and huge indebtedness. And the way forward for Nigeria is to focus towards diversification of exports, debt reduction and expand developmental cooperation. Nigeria got connected to the rest of the world with the arrival of British in the Year 1539 and by the 1800’s Nigeria was under complete control of the British Empire.And since then Nigeriaâ€℠¢s trade has been heavily dependent on British trade. Nigeria has been a country rich in natural resources and traded these resources for weapons and tools. This asymmetric trade is the reason for the wide variance in the distribution of the nation’s wealth. The country received its independence in 1960 and during that time the Farm products was its major export. Post-independence, farm products constituted the major portion of Nigeria’s Trade. The six major agricultural products then were cocoa, rubber, palm oil, groundnut, cotton and palm kernel.And this constituted 69. 4% of its total GDP for the year 1963/64. The other contributor to exports was oil. However, during that period oil was priced low at $3. 8 per barrel and thus was not much lucrative. The 1970’s saw Nigeria’s fortune turn with the jump in fuel price by almost 4 times. Nigeria had high grade petroleum reserves and these reserves were easier to extract. The petroleum price rose to $14. 7 p er barrel by January 1974 and rates continued to soar reaching a high of $38. 77 per barrel in 1981.Within the same period, total revenue from oil rose correspondingly. By 1978, oil contributed 89. 1% of Nigeria’s export and in the same year contribution from agriculture plummeted to 6. 8% of exports. The overdependence of the country’s economy on oil exports has seriously hindered the development in other spheres. Globalization poses a multitude of challenges on Nigeria. The countries very poorly on education, health, agriculture and industrial development and therefore it is imperative that Nigeria focuses on these area to fundamentally transform the nation.The country requires focusing on technological development and science and Technology are required to be central theme of their Developmental Strategy. The Country also requires focusing on basic Infrastructure such as power supply and telecommunications and these must exist regularly and uninterruptedly. Also, in dustrialization, including manufacturing and fabrication must be brought in at the center place. There is a need to revitalize agriculture by utilizing the technologies in the field and shifting to mechanized farming. ConclusionThere is an element of risk of doing business in Nigeria even though the debt of the country is in a manageable state. A prolonged European crisis and a slowdown in China will lead to dip in oil prices and Nigeria will face difficulties in meeting its deficit requirements. The currency of Nigeria-Naira is currently seen stable and after depreciating by an average of 6. 3% per year in 2012-13 to N174:US$1, the naira is expected to moderate more gently in subsequent years, to N176:US$1 in 2016, though the currency has seen a continuous downslide when data is compared for the last three decades.After the Banking crisis of 2009, the banking sector is skeptical on lending to private sector, however the confidence is returning. The political risk of the country is seen as high due to factions in the government and the rise in Islamist fundamentalism. Piracy is also a major phenomenon in the Gulf of Guinea which makes Nigeria’s coastline a risky shipping port. Nigeria declared a state of emergency in January 2012 in the northern parts due to a recent spate of terror attacks; however no civil war or major instability is expected in the short run.The government has been accused of largely ignoring public grievances like unemployment, poverty, inequality in wealth and corruption. Unless the government steps up to address these issues and establish credibility there is risk of escalation. The President Mr. Good luck Jonathan has recently commissioned investigations into allegations of corruptions in the oil subsidies and replaced the Chief of the Police for failing to root out infiltration by the insurgents into the government offices.However the effectiveness of these measures will depend on their enforcement. The future of the Nigerian ec onomy therefore depends on stabilizing governance and enabling the parliament to unlock major reforms in the Oil and Gas sector. References 1. Economic Intelligence Unit – (http://country. eiu. com/Nigeria) 2. CBN Monetary Survey 3. Exchange Rates – (http://www. exchangerates. org. uk/) 4. Shadow Economy Reference – (http://news. bbc. co. uk/) 5. Currency Reference – (http://www. cenbank. org/)

Free Essays on Star Clusters

Star Clusters Globular Globular clusters are gravitationally bound concentrations of approximately ten thousand to one million stars. They populate the halo or bulge of the Milky Way and other galaxies with a significant concentration toward the Galactic Center. Spectroscopic study of globular clusters shows that they are much lower in heavy element abundance than stars such as the Sun that form in the disks of galaxies. Thus, globular clusters are believed to be very old and formed from an earlier generation of stars. More recent estimates yield an age of 12 to 20 billion years; the best value for observation is perhaps 14 to 16 billion. As their age is crucial as a lower limit for the age of our universe, it was subject to vivid and continuous discussion for decades. The age of globular clusters is determined by investigating their H-R diagrams. The disk stars, by contrast, have evolved through many cycles of starbirth and supernovae, which enrich the heavy element concentration in star-forming clouds and may also trigger their collapse. Our galaxy has about 200 globular clusters, most in highly eccentric orbits that take them far outside the Milky Way. Most other galaxies have globular cluster systems as well, in some cases containing several thousands of globulars. Open Open (or galactic) clusters are physically related groups of stars held together by mutual gravitational attraction. They are believed to originate from large cosmic gas/dust clouds in the Milky Way, and to continue to orbit the galaxy through the disk. Star formation takes place at this very moment, so we can observe the formation of new young open star clusters. Open clusters populate about the same regions of the Milky Way and other galaxies as diffuse nebulae, notably spiral arms in disk galaxies, and irregular galaxies, and are found along the band of the Milky Way in the sky. Most open clusters have only a short life as stellar swarms. As they ... Free Essays on Star Clusters Free Essays on Star Clusters Star Clusters Globular Globular clusters are gravitationally bound concentrations of approximately ten thousand to one million stars. They populate the halo or bulge of the Milky Way and other galaxies with a significant concentration toward the Galactic Center. Spectroscopic study of globular clusters shows that they are much lower in heavy element abundance than stars such as the Sun that form in the disks of galaxies. Thus, globular clusters are believed to be very old and formed from an earlier generation of stars. More recent estimates yield an age of 12 to 20 billion years; the best value for observation is perhaps 14 to 16 billion. As their age is crucial as a lower limit for the age of our universe, it was subject to vivid and continuous discussion for decades. The age of globular clusters is determined by investigating their H-R diagrams. The disk stars, by contrast, have evolved through many cycles of starbirth and supernovae, which enrich the heavy element concentration in star-forming clouds and may also trigger their collapse. Our galaxy has about 200 globular clusters, most in highly eccentric orbits that take them far outside the Milky Way. Most other galaxies have globular cluster systems as well, in some cases containing several thousands of globulars. Open Open (or galactic) clusters are physically related groups of stars held together by mutual gravitational attraction. They are believed to originate from large cosmic gas/dust clouds in the Milky Way, and to continue to orbit the galaxy through the disk. Star formation takes place at this very moment, so we can observe the formation of new young open star clusters. Open clusters populate about the same regions of the Milky Way and other galaxies as diffuse nebulae, notably spiral arms in disk galaxies, and irregular galaxies, and are found along the band of the Milky Way in the sky. Most open clusters have only a short life as stellar swarms. As they ...

Rebut vs. Refute vs. Deny

Rebut vs. Refute vs. Deny Rebut vs. Refute vs. Deny Rebut vs. Refute vs. Deny By Sharon Theres often confusion between rebut and refute and both words may be misused when deny is most appropriate. Its true that they all have to do with negation, but thats where the similarity ends. To deny a statement is simply that. If I say all dogs are grey, then if you deny or contradict that statement all you have to do is say: No, theyre not. However, if you wanted to rebut my statement, you would have to provide a well thought out and reasoned argument that suggests that I might be wrong. This is used in debates, where speakers present evidence that supports a counter argument. In order to refute my statement about dogs, you would have to prove it wrong, perhaps by showing me a dog of a different color. Here are some quotations from publications around the web: Friday, Mr. Emanuel declined to speculate on whether the Trump administration would find another rationale to deny the city the grant - something that has never happened. Nor would he say if he thought that the administration (www.nytimes.com) in which I addressed questions from Congressmen about my testimony before the global warming committee, I had already refuted in detail the points now belatedly raised again by the scientists who have written to Congress. (www.theguardian.com) opportunity to present a counterpoint to Mr. Wolff. And she has broadly discussed with friends the idea of a book to rebut â€Å"Fire and Fury.† (www.nytimes.com) Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Vocabulary category, check our popular posts, or choose a related post below:12 Greek Words You Should KnowUse a Dash for Number RangesEnglish Grammar 101: Sentences, Clauses and Phrases

Why numbers matter Essay Example | Topics and Well Written Essays - 500 words

Why numbers matter - Essay Example The principles concerned with managing money are important to be taken into account while planning to save or invest money somewhere. To discuss and understand these principles, an article from Msnbc The Bottom Line dated November 06, 2011, ‘After steadying, home prices begin falling again’ has been taken into account which entails the scenario of the United States’ real estate industry. The author of the article tells about the falling prices of homes in the United States which were on a steady trend in the summer of 2011. He says that due to the imbalance between demand and supply, there are numerous houses unsold in many states of the US until the end of September 2011. This price fall is being observed by investors and analysts and they are waiting for these to be bottomed that is a rise is being expected after massive falls, though not in the short term. Considering the poor interest rates of US short term Treasury Bills; 0.005% for 3-months and 0.035% for 6-month bills as per the recent auction; this investment aspect has been kept on a farer side by many investors as the rate of return is minimal. Considering this point, other investment opportunities should be searched for. This shows that it is a nice time to buy some lower priced houses and benefit from the capital gains arising in the future, though not in the short term (Schoen, 2011). Taking control of finances is very crucial and an investor should read about some financial trends using mathematical concepts such as percentages and shares in different investments and then take calculated actions. This leads to the understanding of the compounding concept. Just as an investor determines the amount of investment he or she can do, he must take into account the related rate of return and use it to compound his or her future inflows from the investment over the concerned time period. The simple formula for it to be calculated is: Amount of investment * (1 +