Thursday, August 27, 2020

Learning for Future Careers for Visual Diary - MyAssignmenthelp.com

Question: Examine about theLearning for Future Careers for Visual Diary. Answer: Presentation A portfolio is by all accounts the gathering of your aggregate proficient exercises, or the visual journal delineating that how the thoughts and aptitude of yours have been improved every now and then. It uncovers your responsibility, capacities, character and inventiveness and helps the understudy to evaluate their abilities. The portfolio helps you to assess your suitability with respect to your favored educational program. It depicts your ability to perform with different components just as topics and to pick your amazingly viable parts. Sooner than making the portfolio, it is essentially senseful thing speak alongside the employee or division seat that teaches toe suitable educational program to talk on that either your aptitudes or scholastics ought to be qualified for credit or not. It very well may be finished by requesting for the Xerox with respect to the course educational program/format or potentially educational program points in the area office, in this way it can help y ou to assess for the experience for them. It is prudent to apply indistinguishable jargon in the portfolio, just as in where possible, approach the educational program design in clarifying the experience. (Mues, 2000) Destinations Comprehend the criticalness of making and applying portfolios later on setting up techniques. Perceive the segments of the supportive portfolio. Know about how to collect and give the portfolio in the exceptionally productive and proficient manner. Exercises Such works can help you to procure the portrayed point. For completing the compelling portfolio, one can execute any or every one of the movement. The more you execute such movement, more will be the likelihood to achieve the points. These exercises are: Go over such bearings to understand the general point of the portfolio creation. Recommend to the portfolio creation associated beginnings, which are expressed in the ways. Enquire the future instructor seeing the portfolio creation just as associated works, which are the most appropriate for the future planning necessities. In current serious expert industry, effectively showing the abilities and training to the chief is urgent in finding and supporting help. Along with the redid portfolio, a resume can help with giving extra confirmation of legitimate capacities and capabilities. This coordinates can help the understudy in ordering the official resume just as applying it as the hardware later on foundation. (Lahart, 2004) Why set up the portfolio? Portfolios appear to be applied for the scope of the reasons. This investigation points on making the portfolios that can be applied to: Market the capacities of researcher in work questions. Counsels and builds advancements. Suggest for awards, grants, or rewards. Report the amount and greatness of the official improvement. Uncovers prior action or information aptitudes for instructive reason. In spite of reasons, resumes report greatness and satisfying the targets by the occurrences of the movement. (Maher, 2004) Portfolio Pattern Chapter by chapter guide Compose page substance and number each page. Confirmation Involve an announcement in the report clarifying that each part gave is genuine and fitting and depends to the best instruction one is having. Districts to be Assessed Portray all the educational programs comprising understudies name just as educational plans number for the course the understudy is applying in regards to credit. The Portfolio From the individuals who survey the resume don't know about you, the portfolio gives your points just as achievements. It must involve the understudies name, private location just as the researchers personality number. Include official information. Offers names, dates and area in which you finished your specialized projects or post-auxiliary schools. It involves names just as date of any declarations or confirmations acquired. The achievements should be composed in the more account type. On the off chance that, possessing any honor, ought to likewise be referenced. Instruction and Expertise This clarification broadens on the portfolio. It must be clarified with appropriate specifying of the aptitudes and experience that is being should have been executed for the credit. Clarify the instruction and just as ability procured by the aptitudes, how it tends to be achieved and how its information can be executed. Furthermore, how it associates with the educational plan points. It is the opportunity to check to the questioner that the understudy have accomplished the outcomes assumed of somebody that must acquire the course. At the point when the instruction was picked up by the previous learning through classes, preparing, and so forth., at that point express that what is the course time and precisely what experience you achieved from it. The mastery can be of the manual structure like working apparatuses, or intelligent, such as assessing ther instructing inadequacy. (Murray, 2004) Revealing of Education The end some portion of the resume incorporates exhibit, which validates the learning and experience. Detailing of the abilities is critical for the questioner. Associating with the employee or division seat that must evaluate the resume can help you in making your last report. Make the fine report as could be expected under the circumstances, as: Record of the educational plan programs, documentation through the schools, military assistance schools or business. Signify when the preparation was validate through any organization or confirming office, similar to the American Council on Education, a specialist affiliation, a regulatory body, or the association. Records of advancing the information accreditations or permit of essence at appropriate preparing programs, foundations, classes, or workshops. Again time, recognize when the direction was validate and through which individual. Archives of paper publications, uncommon rewards, or model of the action. Video/Photographs of the movement, as appropriate. Meaning of confirmation applicable to the educational program through administrators, officials and other capable to audit the action. Reports can be applied to help the learning, just as they are essentially the most broad kind of revealing. Consider the ensuing at the hour of achieving the documentations: The individual composing the documentation ought to know about the researcher and ought to acquire the new information on the aptitudes and practices as the researcher as of now delineating the resume. The report should properly portray the part of the association among the individual and the essayist. The report must be engraved on the approved fixed. The report must focuses on the undertakings, obligations, and obligations works normal in the practices under acknowledgment. The author must clarify the assignments in incredibly the indistinguishable pattern same as what is been involved in the resume, which is that, it must be build up the system of the practices. The one of a kind accomplishment, a piece that results in the new great, for example, it needs report through person that actually screen the researcher to underscore the thing. At the hour of the engaging for the record, make it clear that it only for the validating reason, other than for the proposal. (OFarrell, 2007) Making an Interview Resume: For making the meeting resume: Keep the reports and different records in the free leaf connector Apply page defenders Apply reports (keep up the correct reinforcement of each archive) Apply cover sheet or/and content tabs for isolating sections Keep the movable size, essentially 5-10 sheets. Leave sheet numbers to make it helpful for incorporating and taking out reports or things. Apply solid situations and headings of the reports. Actualize sections alongside it with respect to what the questioner is looking for (business depiction). Edit to make it increasingly sure that it is immaculate. It must incorporate stray pieces during setting up the portfolios. As perceiving the most huge pieces of the resume strategies that can goes about as the most fundamental for the practices as centering the assessments. The essential key necessity to actualize it on the suitable spot is to scatter you with the resume design that can be applied in the state or the area. Acquiring the earlier training of what can be assumed, the exercise can be planned and bolster the learning alongside the levels through which you can be looked into. With particular to the bearing, the standard assignments would then be able to include improving of the resume. (Seldin, 2003) Wide Elements On the off chance that the methodology of locale and state is being made according to the assumptions in regards to the stray pieces gathering with respect to the resume, the researcher can have the view upon the wide components for making such authority collection. Essentially expressing, the resume must incorporate the ensuing four errands: evidence of planning with respect to direction, confirmation of supportive information assignments, verification of assessment, and evidence of the thoughtful action. (JIST, 2003) References JIST. (2003). Your profession and life plan portfolio (second Ed.). Indianapolis, IN: JIST Publishing, Inc. Dixon, P. (1998). Employment scanning on the web for fakers. Cultivate City, CA: IDG Books Worldwide, Inc. Pack, D. (1998). Wings: The Winona State University Electronic Portfolio Project. About Campus, May-June, pp. 24-26. Steigerwald, F. (1997). Portfolio improvement: Documenting the experience. Advising Today, Vol. 4, no. 5, p. 30. Lahart, O. Maher, E. (2004). The showing portfolio a vehicle for effective instructing at third level, paper introduced at the All Ireland Society for Higher Education Conference. Murray, J.P. (2004). Why Teaching Portfolios? Junior college Review, Summer 22(1). OFarrell, C. (2007). Place for Academic Practice and Student Learning, Trinity College Dublin and AISHE, Teaching Portfolio practice in Ireland A handbook, [online], accessible: https://www.aishe.org/readings/2007-2/ Penn State Unive

Saturday, August 22, 2020

Critical Summary Essay Example | Topics and Well Written Essays - 500 words - 7

Basic Summary - Essay Example Encountering the delight related with the sexual action brings about fulfillment of the human sexual want. The reductionist record of sex depends on the reason of sexual wants being fulfilled through sexual movement. The intetionalist record of sex has been created from the information on relational intetionalist which brings about individuals taking part in sexual movement. As a hypothesis contradicting the reductionist record, this record is an aftereffect of the physical joy which happens through contact with another person’s body. This usually causes physical excitement, which is an ordinary event when people have the aim of taking part in physical movement (Morgan, 2003). The intetionalist account normally centers around situations where delights are inferred for the nature and appearances of the sexual accomplices. The presence of various recognitions in regards to sexual joy remains the key reasons for the distinctions in sexual records. The intetionalist records to sex as essentially dependent on the supposition that people are driven by a craving to accomplish physical fulfillment from sexual joy. The Aristotelian comprehension of the human psyche has been used in trying to comprehend the various records of sex. As per this understanding human want are the reasons for human activities, consequently fulfillment of specific wants urges people to take part in sexual movement. There is a current minor association between the two records depicted inside the article. The hypothesis created by Aristotle tries to clarify the ethical brain science behind sexual exercises by people. The mental component turns into the stage whereupon the psychological and physical components meet, therefore introducing the association between the two records, where intetionalist is mental while the reductionist is physical. The distinction and autonomy of people, be that as it may, brings about the presence of an inconsistency in the experience

Friday, August 21, 2020

Why I Like the History Topic So Much

Why I Like the History Topic So MuchPersuasive essay topics help you make the most of your writing time, giving you a chance to produce that essay that you have always wanted to write. In this article I will explain why I like the history topic so much.You have probably seen many essays on persuasive essay topics that discuss the past. They are usually about events or causes that were historical in nature, for example, people in the Middle Ages, or the Civil War. Or they might be more recent, and for example, a lecture by a prominent historical figure that discusses what the world was like before they were born.But what you will soon discover is that there is not really much use in discussing historical facts if you cannot connect them to your own personal story. If you write an essay that talks about historical events but is written from the point of view of a non-celebrity or a member of the general public, you will soon see that your essay is not as compelling or interesting as an essay that focuses on more personal subjects.This is not to say that you should never discuss any historical event; far from it. History is a fascinating subject that makes for great reading and a great debate. But for the purposes of writing an essay, you will want to start by looking at the events that are current in time and looking at the events that are still very fresh in your mind, and what better way to begin that exploration than by looking at the very events that led up to your own life.The great thing about this approach is that it gives you the opportunity to build a stronger argument. You have to remember that you will have a story to tell when you write this essay, so if you are going to use a particular event that led up to your own life as a jumping off point, you must make sure that you can connect your story to that particular event. Otherwise, you will end up using one event to drive a very strong argument.You do not have to dwell on the historical events that he lped shape you. You just have to look at those that are most relevant to your own life. Not only does this make for a stronger argument, but it also means that you are not putting anything too personal in your essay.You will find that when you use persuasive essay topics like history, you are much more likely to get some response from readers when you use personal stories. That is because readers appreciate having a story to tell in an essay, especially when it is about their own lives. When they hear a personal story from you, they often consider the ideas that you present to be solid, and that is a great feeling when you are writing an essay.Try using essay writing strategies that focus on either personal stories or the history of an event to help you in your writing. History is one of the best essay topics that you can use to create a stronger argument, and a stronger story. Consider the history of your own life as you search for the best essay topic.

Tuesday, May 26, 2020

Analysis Of 1984 By George Orwell - 954 Words

Sophie Moore Mrs. N. Finley E209R3 – 1984 literary analysis 27 January 2015 Symbolism throughout 1984 The novel 1984 is a futuristic totalitarian society where everyone is kept under close surveillance and is forced to follow all rules and laws of the state. The novel 1984 was written by George Orwell and published in 1950. The main characters were Big Brother, Winston Smith, Julia, O’Brien, Syme and Emmanuel Goldstein. Winston Smith is a low man on the totem pole when it came to the ruling Party in London, Oceania. His every move is watched by the Party through devices called telescreens. Posted everywhere around the city is the face of their leader, â€Å"Big Brother† informing them that he is always watching. He works in the â€Å"Ministry of Truth† which is ironic seeing that they alter history to fit the liking of the Party. As this book continues Winston challenged the laws and skirts around the fact that he is always being watched. His shocking and rebellious act is â€Å"falling in love.† Throughout this novel George Orwell utilizes symbolism to fu rther enhance the totalitarian features of the society. In many ways these symbols represent the things that this society hasn’t experienced and doesn’t understand. The face of the Party and the leader behind all the great power in this society is Big Brother. â€Å"Big Brother Is Watching You.† Is one of the most obvious symbols in the novel 1984. Big Brother is there for reassurance and is portrayed as a trustworthy leader for many, yetShow MoreRelatedA Literary Analysis Of 1984 By George Orwell721 Words   |  3 Pages The essay your about to read is a literary analysis of the book â€Å"1984 by George Orwell† it was written in 1948 as a thriller. Winston Smith is the main character of this story followed by two characters â€Å"Julia and O’Brien.† The book starts off with main character Winston being very frustrated with what is called the â€Å"Party† lead by a man named â€Å"Big Brother† hints the saying â€Å"big brother is watching you† from â€Å"George Orwells worst fear† stated by express.co.uk. the book takes you for a rideRead MoreAnalysis Of George Orwell s 1984848 Word s   |  4 PagesCritical Analysis In the George Orwell’s novel 1984, much of the society is watched and have no privacy of any kind. Every person in the Party is under surveillance. In effect, these people cannot live freely and independently, but it seems to be an impossible task because of of the Party surveillance, and how they limit thinking and manipulate reality. We can similarly see these concerns and their effects in today s society and the ways the novel also acts as a warning for the future. In 1984 a manRead MoreAnalysis Of 1984 By George Orwell1578 Words   |  7 Pageseducation, thus he then joined the Asian country Imperial personnel. After five years, he resigned and went back home to become an author and later on became very popular when he wrote and printed the Animal Farm and 1984. Information about the literary period: In 1949, George Orwell wrote his most illustrious story. His book supported the concept of what is going to happen twenty-five years from then. He got this concept from what was happening around him and in the world. Through this year, theRead MoreAnalysis Of 1984 By George Orwell1160 Words   |  5 Pages1984 by George Orwell is set in a dystopian future ruled by a terrifying totalitarian government that’s known to make people disappear overnight. This government uses the kids to spy on their parents, has overarching figures that closely resemble real life people and uses large amounts of surveillance to keep the people in check. Many parallels van be drawn to real life people and situations. The fact that parallels can be drawn doesn’t necessarily mean that we’re living in the same world the peopleRead MoreAnalysis Of 1984 By George Orwell1022 Words   |  5 PagesPeople of Oceania 1984 was written by a British writer and journalist, George Orwell. Orwell created the novel, based off of the main protagonist, Winston, who tries to overcome the malicious obstacles of the politcal regime, is faced with judgements and mistreatments from the Party. One need only to apply the epithet of Big Brother to a government or organization in order to conjure up the nightmarish oppression so vividly portrayed in Orwells most famous novel. 1984 depicts a fictional societyRead MoreAnalysis Of The Novel 1984 By George Orwell1205 Words   |  5 PagesThis phenomenon is evident in George Orwell’s novel, 1984 in which the protagonist, Winston possesses critical features of a rebel. The rebellious personality of Winston is first introduced to the reader through his thoughtcrime’s. This trait is also distinctly seen through the doubts he has towards the governing party. Finally, the characteristic of rebellion is also successfully shown through Winston’s desir e for happiness. It is evident that through the novel 1984, Winston is a rebellious characterRead MoreAnalysis Of 1984 By George Orwell1163 Words   |  5 PagesEXAGGERATING IS UNDERSTATING Have you ever felt like you were being watched? In 1984 by George Orwell this was not just a feeling of the citizens in Oceania, it was their lifestyle. The plot of 1984 is over exaggerated in the sense that the citizens are not allowed to partake in any malpractice because their every move is constantly being watched, this makes 1984 a satire. 1984 is not only a satire but it is a satire of 2016. This is because people in 2016 are pressured into a stereotype, technologyRead MoreA Summary and Analysis of 1984 by George Orwell1223 Words   |  5 PagesBOOK REPORT Name of the Book – 1984 Author – George Orwell This book starts in London on April fourth, 1984. The book is written in partly third person, and partly in first person. The book is divided into three distinct parts. The first part is showing you the main character, Winston Smith and his differences and frustration with the world he works and lives in. The country or the â€Å"Super state† he lives in called Oceania is run under a government called INGSOC (English Socialism). The leadersRead MoreAnalysis Of The Book 1984 By George Orwell1362 Words   |  6 PagesKathie Tejada Professor Antonio Tomà ¡s Guerrero Dà ­az COLI 214B 1984 This novel, 1984, is a dystopia and takes place in Oceania where people live in a totalitarian society. The author, George Orwell, wrote this as if he was looking into the future and what it was going to turn in to. This group of people, called The Party, have control over everything and everyone, and they have a leader, known as Big Brother, who is everywhere throughout the novel and the people look up to him. They invented a languageRead MoreAnalysis Of George Orwell s 19841423 Words   |  6 PagesIn the novel 1984 by George Orwell, the Party has many strategies and tactics that help them have complete control of the people of Oceania. The control the Party has maintained gives them the ability to manipulate people as a result. The Party takes away the people’s freedom to have a say in their government and become their own person. They use their power to an extreme against the people rather than to help the people. The Party takes advantage of every opportunity to instill fear in the citizens

Friday, May 15, 2020

Counterparty Risk In Sukuk Example For Free - Free Essay Example

Sample details Pages: 21 Words: 6160 Downloads: 7 Date added: 2017/06/26 Category Finance Essay Type Cause and effect essay Did you like this example? In sukuk, credit risk means that the probability of an asset or loan becomes unchangeable due to a failure or delays in payment and if the correlation involves in engages by written agreement then the counterparty risk is the probability that the counterparty rebound on the situation of the delegate. Other than that, the outcome can be tough with a fall in the value of a banks assets and credit and counterparty risks essential in Islamic finance. They are one and lone due to the essence of Islamic financial instruments that somehow to be transformed to the basis of the Sukuk asset collective. Don’t waste time! Our writers will create an original "Counterparty Risk In Sukuk Example For Free" essay for you Create order Meanwhile, it has a different in conventional financial institutions and Islamic banks no need to access to the derivative instruments and other credit risk management mechanisms due to Sharia thoughts. Major Sukuk issuances have mostly bear on assets based on Ijarah, Istisna, Salam and Murabaha contracts. Other than that, there is several credit risk considerations joined with these modes of finance. Firstly, Salam contracts are bare to the risk that goods will not be endow on time or will not fulfil to the deal allotment and besides that Istisna contracts entail in performance risk. The client of the bank may fail on the conditions of the contract and the subcontractor may fail to make the vital services. In addition, there is also a coupon payment risk that connected to Sukuk and in case the obligor fault to clear all the payments of the demand coupons on time given. However, the asset reclamation risk might be arising as the underlying assets and might not be amply redeemed wh en the originator has to buy back from the certificate holder. Besides, there are also specific risks connected to the SPV such as the belief of making a payment risk entailed with the SPV where the maker need to repay back the certificate holders through a clearinghouse. Apart from that, the Sukuk coordinate are bared to a liquidity risk. Presently, sukuk coordinate do not have good structured and adequately aqueous derivative market and many of the credentials cultivate to be held until maturity. In addition, the hidden assets of the Sukuk credentials are also refer to a risk of shortfall which is a crucial risk in the case of accoutrements and massive degrees arrangement and yet there is a potentiality to lessen the risks of asset losses by using purvey for assurance to redeem back in the mould of Takaful. Types of Investment Sukuk Description of Investment Sukuk Shariah rulings and requirements Salam certificates These are documents of equal value issued for the sake of mobilizing Salam capital and the items to be delivered on Salam basis are owned by the certificate holders. Issuer: Sells Salam commodity Subscribers are: Buyers of that commodity. Mobilized Funds: The purchase price of the commodity, which the Salam capital. Certificate Holders: Entitled to the Salam commodity and the selling price or the price of selling the on parallel Salam basis if any. Istisnaa certificates These are documents that carry same cost and are addressed with the attempt of mobilising the funds required for producing a certain item and the items to be produced on Istisnaa basis are basically possess by the certificate keeper. Issuer: The manufacturer or supplier. Subscribers are: The buyers of the item to be produced Mobilized Funds: are the cost of the item Certificate Holders: Entitled to the item or the selling price of the manufactured item. Murabahah certificates These are documents of same amounts are addressed for the aim of financing the Murabahah commodity and the authorization holders will become the proprietors right of the Murabahah commodity. Issuer sells: Murabahah commodity Subscribers are: buyers of that commodity Mobilized Funds: the buying cost of the commodity Certificate Holders: Basically stand alone by the Murabahah commodity or the price of selling it. 3.9.3 Shariah Compliance Risk There are a lot of disadvantages of Shariah compliance risk in sukuk. Shariah compliance risk means to the failure of asset cost as prove of the issuers break of its fiduciary responsibilities with honors to obedience with Shariah and there might be a number of such instances of deliberate or acquitted breaches. Besides, the closure clauses or syaria jurist of the Sukuk announcement describe issues that will officially make the Sukuk exploit invalid and annulled due to Sharia non-compliance. For example, if the Sukuk is based on a hybrid of Ijara and Istisna assets, Ijara must always more than Istisna in the pool, otherwise the Sukuk deed will disperse and thus approximately speaking, Sharia compliance risk must be defined as a rate of return inevitable in comparison to the market rates, as a result of complying with the Sharia. Hence, the issue of competitiveness and survival in capital markets as a Sharia complaint the asset class. For example, in the case of occurrence of a Waki l or the  warrantor and the agent need to be unconnected entities to disprove any battle of interest and moral hazards. However, Islamic finance is an economic model imitates the essence of a faith that is a way of life for Muslims. Therefore, the pressure to keep alive the nature of Islamic financing in a Shariah compliant way remains powerful and the Sukuk structures must not only imitate this but also preserve competitiveness. Often it is the case that a fine balance is affect between Shariah conformity and project viability considerations to the degree or extent that jurists and Shariah consultants play a constantly vital impression in the classify of the Sukuk thought. For your information, there are a number of discrepancies regarding the applicability of Islamic financial instruments against the different schools of thought as well as the legal regimes in which the Sukuk are issued such a theoretical ambiguity would pose further operational risks that the Islamic bank might be run post nominal of Shariah jurisdictions. For example, the theoretical applicability of the Murabaha contract varies between different schools of thought and various jurists such as the Organization of the Islamic Conference (OIC) Fiqh Academy concur that the Murabaha contract is binding on only the seller of the contract and not on the buyer but other jurists hold the prospect that both the parties to a contract have an equal obligation to the terms of the contract. However, it is notable that financial engineering has made it possible for Shariah positions to join together. For example, a few years ago, floating rate Ijara was not broadly conceivable to be Shariah compliant as, according to the Shariah principles, the originator can only guarantee rents (returns) on the fixed return underlying assets. As mentioned above, fixed rate Sukuk face serious matters of market risks nowadays and to match the market requirements of Sukuk to be floating rate, the Shariah r equirements of rents must be in the fixed rate and the Ijara Sukuk are based on a Master Ijara Agreement with numerous subordinate Ijara agreements. Besides, in the subordinate Ijara contracts, the rents are revised semi-annually in accordance with the market benchmark. This is to ensure the rent is fixed for 6 months and floating at the same time. Major Ijara Sukuk likes Gutherie, Malaysia, Qatar, Saxony-Anhalt and so on are based on this marriage. Other than that, the investors might still have some matters in interest rate risk to a certain extent and they would be unprotected in the event that the floating rate rises to a level higher than the fixed rate of the underlying assets. Since the originator can only guarantee the fixed return on the underlying asset pools, the issue of floating rate returns still maintain disputatious, particularly in pooled hybrid Sukuk. So, the only major issuer to offer fixed rate distributions is the IDB which continues to face the underlying ra te of return risk. Another example relates to the liquidity facility. Liquidity facility is something likes a letter of credit,  standby bond purchase agreement  or other arrangement used to render liquidity  to purchase  securities or accommodates funds to the agent or its issuer to buy the securities that have been  tendered  to the  issuer  or its agent but which cannot be immediately or directly remarketed  to new investors until such time as they can be remarketed and the provider of the liquidity facility is typically a bank. Besides, stipulations for a liquidity facility to abate lags between payments to investors and returns on the underlying asset pools have been analyzed by the prospectuses of the sukuk. Some liquidity facilities have been formed to permit the trustee to make some advantages to the facility for any liquidity deficit ensuing from default in the Sukuk asset pools and the imbursement of the liq uidity services have been provisional upon surplus funds after the distribution of coupon payments to the Sukuk holders. However, it has been suggested by Shariah scholars that the sole purpose of such a liquidity facility should be to easily out delays between investor payments and returns on the underlying asset pools and the importance of such a liquidity facility can most efficiently be accumulated where the arrangement has floating rate payments because of the fixed rate returns would give the non-existence of interest rate differentials. A third example of the shariah compliance risk is that the functions and the relationships of special purpose vehicles (SPVs) and other third party agents. In the occurrence of a wakil or agent of the guarantor, wakil have to be separate entities to countermand any conflicts of interest and moral hazards. There also had been proposals to appeal to two SPVs in several instances instead of one. In this case, the first SPV would have to manage the financial obligations of purchasing and reselling the underlying Sukuk assets to the second SPV that would be a trust with the purpose of issuing the certificates. However, Shariah considerations prefer a single streamlined SPV that would perform in both functions of financing the transaction of Sukuk assets and servicing the trust certificates for the investors such an SPV should have foregoing experience in financial markets and they also should to remain independent of the originator. In the nutshells, what can I say here is the association of Shariah supervisors with Sukuk issues will guarantee investor confidence? The answer definitely will be yes. However, the convenience with which the Shariah compliance requirements can be married with the conditions of market competitiveness will remain a great challenge for the Sukuk issues. 3.9.4 Operational Risk Operational risk is a  form of  risk that summarizes the risks of a company or firm undertakes  when its try to operate within in their area or industry and operational risk is where the risk that is definitely not inbuilt in budgeting,  systematic or market wide  risk and whereas it is the risk that remaining after  crucial financing and systematic risk and it also includes risks resulting from  breakdowns in internal procedures, people and systems. However, there are several other risks definite to the process of the Sukuks and these risks mirror those continuances in conventional bond markets and are operational in the sense that they are inherent to the structure of the issuances rather than the underlying Islamic principles. Operational risk is divided into six risks which are default risk, coupon payment risk, asset redemption risk, spv specific risk, investor specific risk and lastly risk related to the asset as following: Firstly is the default risk which every prospectus has provisions for the termination of the certificate in the event of a default by the obligor and in case if the obligor fails to pay the rentals on the Ijarah agreements that form the coupon payments, the certificate holder can exercise the right to abolish the agreements of the contact and force the obligor to purchase back all the assets .Furthermore, certificate holder also can exercise the right to take legal action and force the obligor into debt rescheduling proceedings in the event that the obligor fails to compensate the principal amount of the certificate holder . Secondly is the coupon payment risk which the obligor might be fault to make a payment on the required coupons on the due date given and any delayed coupons will be subject to a specified payment amount that will be accumulated with the special purpose vehicles (SPV). However, these accumulated funds are suggested by Shariah councils to be donated for charita ble purposes. Thirdly is the asset redemption risk where the originator has to purchase back the underlying assets from the certificate holder. Furthermore, the principal amount paid may not be same to the Sukuk issue amount and as a result, there is the risk that the assets may not be fully redeemed. Next, the special purpose vehicle (spv) is generally designated to be a standalone institute that is bankruptcy or black list remote from the originator. However, there may be a view of resolution risk involved with the SPV in that the originator will have to network the payments through a clearinghouse and then the certificate holders will be compensate through the clearinghouse immediately. Another risk is the investor specific risk where the certificate holder is contributed to some of the risks that are applicable to Sukuk structures and these are primarily with respect of liquidity issues. Besides, the Sukuk structures, they are welcoming in dealing with liquidity managem ent issues in Islamic finance where the Islamic finance is revealed to a liquidity risk. Currently, there are related to liquidity risk because mainly its does not exist a good structured and sufficiently liquid secondary market. In addition,as we know the certificates are listed on several local markets but this alone does not signify their liquidity and the Sukuk certificates are medium to long term in maturity and their continued success will definitely depends on their ability to develop into highly liquid means of fund investment with adequate risk management mechanisms. However, as is the currently the case, all of the certificates be liable to remain until last of their maturity. Last but not least, Risk related to asset is the concealed assets of the Sukuk certificates where this risk is are similar to other risks as well and mainly there is the risk of loss of the assets and these are minimal with regards to Ijarah assets of land parcels. However, in case of equipment an d massive scale formation typifying some of the underlying IDB assets the risk of loss may not be so insignificant. Nevertheless, Islamic finance has Shariah compliant provisions for insurance claims in the form of Takaful and these arrangements might have to be utilized to diminish the risks of asset losses and as it is related to the asset risk as well is the need to maintain the structures of the assets. Besides, proper maintenance will certify capable returns to the certificate holder and according to Shariah principles, the SPV will usually be required to bear the responsibilities on ensuring asset structure maintenance. 3.9.5 Institutional Rigidity Sukuk as we know is originate from developing countries and the financial infrastructure in some of these countries such as Bahrain and Malaysia are well developed but generally this infrastructure is delicate in most emerging economies. In our country Malaysia, sukuk are already used by Muslim and also non Muslim. It is not something new in this era. In addition, Sukuk require unique Shariah compliant structures and this creates a state, which can be termed as one of institutional rigidity and which cannot be removed in the short run, habitually it will raised the risks of Sukuks. The features of this state that having the matters are likes: Lack of hedging and financial engineering processes. For your information, hedging is making an investment to lower the risk of opposing price movements or drive in an asset. However, normally a hedge made up of taking an offsetting situation in allied to the security likes a futures contract. Non-existence of interbank money markets. Lack of best practice uniform controlling standards and commands. Weaknesses in litigation and legal framework support, particularly, in the treatment of default Non-uniform accounting, auditing and income and shortfall of recognition systems Non-strong investment assessment, promotion and monitoring infrastructure Ineffective external credit assessment systems Undeveloped state of financial markets Weak inter-segmental support and lost in connections. For example, without life insurance coverage the credit risk of a client is sure to be high. This is one of the important risk factors faced by Islamic banks due to non-existence of comprehensive Islamic insurance coverage. 3.10 Calculation Mechanism Sukuk profit is coming fromÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦.. As Shariah think about money to be a assessment appliance for cost and not stand for an asset in itself but it also need to stand in need of that one may not be accomplished to take income from money by itself. For your information, this self assurance of capital from money is known as Riba, and is obviously not allowed and now we already know that a lot of people misused their powers and keep doing these illegal activities but in sukuk we really take serious of this matter. However, some note that it is the money lending interpretation that is the more relevant for example when interest is applied in an unequal manner that can make or force individuals into debt traps and also a revolution of hardship and this already not special to Shariah as many non Islamic countries have extortion laws. In making a profit in sukuk, there also have the presumption for Islamic financial institutions and securitisations that the selling of claim or receivables without the hidden asset for par is not allowable. However, we need to take noted that some of the extant in Sukuk and somehow some of the Shariah boards arise to approve that as long as receivables are in a small part of the all embracing income flows and their existence is acceptable even though there is some alteration in the meaning of little. For the second point that have been raised by Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) is that they offensive the trading of receivables or claims as such in both of the Sukuk securitisations was seen to the due date so the physical assets such as land and properties are going to bring about the cash flows and also have been rendered to the investors as well as the payments or receivables due on those assets. If Tamweel or Sorouh PJSC is going alter to impoverish so the legal ownership of the properties and land might basically in with the investors. In addition, Institutions likes AAOIFI and the Islamic Financial Services Boa rd has an important part to caper in working together the different parties in an organised fashion to argue the affair and attain an agreement that will eventually lead to adequate standardisation to achieve the common long term goals of Islamic finance. Besides, in the censured Gulf Sukuk structures, there is naturally a rent or lease management income derived from the asset. However, under the Ijarah rent type affinity so the company obviously will agrees to make a payment on the given time to the Sukuk holders salary for applying of the asset and these will form the periodic fixed income flow that imitate the coupon in a conventional bond. However, in other structures likes Mudarabah and Musharaka, there might be several capitals that flow from the assets that are going to pass through to the Sukuk holders to make a payment for the profit. However, if there is an extra income officially it is taken as an encouragement fee or if there is a deficit, the maker has basically has an obligation to make a payment to the changes of the differences. The third AAOIFI principle come into view that they will stand to this practice and hinders the payments or loans if there is a loss in the expected earnings. Thus, same with the purchase responsibility and what we were talk over below, the investors again will depends on the corporate or bank to pay back their profit but not based on the underlying assets. How do we can calculate the profit rate from Sukuk? Do you think that sukuk will be a model to the conventional bond market? In our analyses, the answer definitely will be yes. Many people keep questioning how a Shariah compliant, non interest aspect the appliance might be recognizing in opposition to London Interbank Offered Rate  (LIBOR). For us, to use an analogy, for example if I have a building and lease it out to renters at a rate based on market forces, market forces might be stand for by a formula which may comprise all the cost of borrowing. Nowadays, we live a life in a worldwide economy where the amount of tale on loan influences even what we pay for our day to day provisions. However, there is therefore did not effect in referencing revenue to LIBOR as long as the asset that is appropriate is a Shariah compliant asset and it has been prove when the enormous most of qualified scholars hold up this observation or view. Another thing that we are forbidden to do is to give or lend money with the purpose to take money in the future at a profit or in the form of interest. Nowadays, most o f them like to lend money with a high interest but in Islamic law that is not the one trade that may advantage civilization as you are going to make a capital out of capital, as follows honestly speaking, the rich become richer and the poor become poorer. In addition here, there constantly has to be an hidden buying and selling behind it in which case you may absolve a blemish up or revenue rate and in Islamic law also advises us that we cannot trade money. Generally, capital is absolutely a medium of exchange and not a goods itself that might be traded. Pricing of Sukuks with Embedded Options How we are going to pricing sukuk with embedded option? Embedded option means a bond can be valued similar to the valuation of selection on equities by implementing binomial trees. In conventional bond issuance the value of the underlying assets will base on the level of interest rates whereas in Islamic contracts interest rates are substituted with the rate of return on the underlying assets. We can analyses the valuation of embedded options using altering scenarios in a tree diagram. Assume that futures one-year rates of return develop are as follows: YEAR 0 1 2 3 8.10 7.50 7.00 7.25 Rates 6.50 6.50 6.00 6.25 5.60 5.10 The represented tree can be utilized to value zero coupon certificates of various maturities. For example, the value of a 1-year zero coupon bonds at time 0 is B (0, 1) = 1/1.065 = 93.89 % of par value The value of a 2-year certificate at time 0 can be determined using the same discount mechanism. The value of a 1-year zero coupons at time 0 can be calculated as: If r= 7.00 1/1.07 = 93.45% of par value If r= 6.00 1/1.06 = 94.34% of par value As a result, an investor who owns a 2-year zero coupons knows that the investment will be worth either 93.45% of par value of 94.34% of par value in one year. If the probabilities of the two scenarios altered for risk are known then the investor can value the two year zero coupon bonds accordingly. Assuming 60 percent for r=7.00 and 40 percent for r=6 we can infer the value of 2-year zero coupon bond to be: B (0, 2) = 1/1.065 x [(0.6) x 93.45 + (0.4) x 94.34] = 88.0807 % of par value The estimate of callable bonds will appeal an adjusted technique as the callable bond is basically a portfolio of a non-callable bond and an American call option written with the non-callable bond as the underlying and a raid the price that is given by the call price. Accordingly, at each bulge of the tree the value of the bond can be given as follows: P = 1 + C at maturity P = max [CP, (1+C)/(1+r) ] one year prior to maturity P = max [{CP, 0.5 x (Pu + Pd) + C} (1 + r)] more than one year to maturity CP = price of the option C = coupon r = rate of return Pu = value of the certificate in one year if return goes up Pd = value of the certificate in one year if return goes down 4.0 Conclusion The overall finding of this research included in this study is clearly understood thorough the conclusion of this report that Sukuk, as mentioned earlier, has become a very important instrument worldwide over the past decade and it has been accepted not only by the Muslim investors but also by the many non-Muslim investors across the world. Its characteristics have allowed it to give a competitive advantage over other influential in the Islamic Capital Market. There are other advantage of Sukuk for the economies and financial markets in terms of discipline and more financial stability. Hence, the purpose of this work research did not extend beyond examining and analyzing issues which are very important to the future development and enhancement of the Sukuk industry. It is expected that Sukuk will encourage many Muslims world-wide to participate in financial markets and hence will be instrumental in expanding these markets, particularly in the evolving countries. In this research we analyzed a number of issues related to the evolution, underlying principles, structures, risks and competitiveness of Sukuk as Shariah compliant substitutes to traditional fixed income financial assets. Other than that, the evolution of the sukuk market in our country, Malaysia might be result in extensive and wide-ranging measures which include the creation of an effective issuance manner and it will increasing the price discovery manner and agreement system, enacting a method bear, developing the investor base, advertising liquidity in the secondary market, and protecting the lawful, arrangement and Syariah composition. The foundations for the allowable development of Islamic finance in general and the Islamic bond market in particular are now in place and it is hoped that current incentives and measures under the MIFC initiative as well as other internal and external factors, will encourage local and international financial market players to become MIFC service providers. By doing so, and by making Malaysia as their regional hub, these players might definitely boost their market attain and blow up their buyer satisfaction bases within this region. The observation of our research in sukuk is made on the basis of the following points like firstly, the essential employment and objective of the Sukuk issuance is to outfit way of bargain in the capital and money market sector to all society Muslim investors as well as non Muslims. However, for the Muslim investor they will make them harmony of mind, security reliance are high and focus attention on this thing. However, until mid 2008 the international Sukuk market was driven mainly by corporate issues or qausi-sovereign mostly without implicit government guarantee while sovereign Sukuk were few which had resulted into imbalance and hurdle for issues such as creation of bench mark yield curve. Since then, due to the financial crisis, the international Sukuk issuance trend has shifted towards Sovereign or f ew multilateral agencies issuances mainly due to better quality safe heaven reasons. Furthermore, there has been limited investors appetite for corporate risk. As regard to the issuances of Sukuk at the domestic level, the analysis shows that Malaysia is ahead. However, with consider to the growth in both international and domestic Sukuk issuances, the conclusion reached based on this study is that, until 2007 there has been high growth in both international and domestic Sukuk issuances, but the growth pattern was twist by the credit crunch. Nevertheless, in first half of 2009 the growth trend again showed sign of recovery and the market may have witnessed a stead reversal in Sukuk issuance if it was not hit by few troubled Sukuk issues. Tenor wise international Sukuk is mostly confined to 5 year tenor and there are just a couple of long term Sukuk which again high light the need for having balance between short, medium and long term tenors more for secondary market development purposes. At international level the Ijarah Sukuk is the most broadly used followed by Musharakah. During mid 2008 to mid 2009 the market witnessed the issuance of Sukuk dominated by Ijarah organize where issuance by Government of Indonesia of its retail and sovereign Sukuk are good examples. However, exchangeable or convertible and Hybrid Sukuk structures have also emerged as one of the potential growth drivers due to their innovation possible and also equity market link. Finally, the market situation and AAOIFI Shariah panel finding had affected the Musharakah and Mudarabah Sukuk issuance. However, we are of the view that the evaluation and the development of Sukuk is counted on to carry on which necessitate more and continue effort and improvement in many of its aspects. Admitting the challenges facing Islamic securitizations and bonds, there are likes to be a tough desire to overcome with explanations that will global up these product locality and numerous of chief investment banks and law firms are digging hard to find Shariah-compliant matters. However, to the liable investor appetency in the Gulf region and in the Far East for Halal investment chances and they require of many Islamic financial institutions to securities their hidden financings, we have faith in that overcome might be swiftly advanced that issue these arouse and these markets will establish abundant ground for all contributors. The recent trend shows that the Islamic Capital Market has grown and has drawn increasing interest from among the market players. This has motivate the need for creating appropriate measures in recognizing and measuring transactions relating to the issuance and investment of Islamic bonds to ensure compliance with Shariah Law. Hence, in response towards this need, AAOIFI has issued a new standard, FAS 17 which covers Islamic investments including Sukuk. Based to the standard, Islamic bonds should be categorized into three categories according to investment i ntentions, rather than two categories in accordance to the period of holding as is the practice in the traditional accounting. The classification of Islamic bonds is made to promote public maslahah or interest as underlies in the determination of zakat. Further, the standard states that the recognition for investment in Sukuk and shares shall be made on the acquisition date. In terms of its measurement, Islamic bonds should be measured at historical cost rather than fair market value. The standard also specifies the necessary requirements for Sukuk disclosures. The goal of these termination requirements is to ensure that adequate disclosure is made by the issuer of Sukuk for the purpose of assessing whether or not it complies with Shariah Law. In the effort to position Malaysia as a premier international Islamic financial centre, the Malaysian government has to encourage the private sector to be more effectively. The market for Sukuk authentication continues to grow and an import ant facet of this growth is the increased number of sovereign issuances typified by those issued by Malaysia, Bahrain and Qatar and, interestingly, Saxony-Anhalt in Germany. These certificates are appealing to global investors without having too much bearing on the underlying Islamicity of the certificates. Accordingly, Islamic secondary markets receive a boost because such sovereign issuances and the subsequent attraction of global investments encourage increased corporate confidence in their private issuances. Nevertheless, Ijarah Sukuks continue to hold as the most popular manifestation of Sukuk certificates. This is largely in part to their unambiguous Shariah conformity and familiar leasing formulae. However, leasing contracts on underlying real estate properties cannot single-handedly support the growing diversity of Sukuk investors. With increased global investors there will be a myriad of investment needs and thus other avenues of Sukuk issuances should be implemented to sat isfy these demands. Istisnaa, Mudarabah and Musharakah certificates are established as part of the AAOIFI standard and can be garnered to offer a plethora of Sukuk structures. The recent Sukuk issuance by the Islamic Development Bank serves as an excellent case study in this regard with their Shariah compliant diversity of investments. With the rapid emergence of Sukuk markets, risk management considerations have also come to the vanguard of the industry. Novel financial instruments bring with them original financial risks. An analogous situation represented itself in conventional financial markets in the early 80s with the emergence of interest rate derivatives to hedge against the financial risks of bonds. With the globalization of financial markets and increased convergence of Islamic finance and conventional markets, indirect interest rate effects as well as other financial risks will necessitate the development of Islamic financial risk management techniques. Derivatives are inherently against Shariah considerations because of the uncertainty associated with them that amounts to Gharar. However, we have discussed the possibility of extending the functions of embedded options to fit the needs of Sukuk certificates and Shariah considerations. This facility also provides a debt structure framework that helps to regulate the functions of traditional instruments in turn benefit from the convexity gains of these instrument. Firstly, there are no markets for liquid interest rate derivatives and secondly, interest rates are fluctuations lead to significant gain in credit risk and lower the bonds price. Accordingly to these statement, investors in emerging markets is suffering from the negative effects of volatilities but cannot benefit from the positive side and such benefits have been garnered in conventional emerging markets such as in brazil where the interest rate volatilities is the 90s warranted a protective cushion against these fluctuations in the f orm of putt able and callable bonds these debt structures can be transferred to the sukuk issuances in accordance to outstanding shariah concerns. However, in conventional markets, investors have also garnered the positive effects of swaps between different interest rates, exchange rates and between floating and fixed rates. Again, the feasibility of swaps in Islamic markets has been in contention as they are deemed to contravene Shariah considerations. However, the emergence of Sukuk certificates as mechanisms of liquidity management presents a novel asset-backed securities structure that can set the foundation for supporting risk-management derivative instruments. Our discussion centred on the viability of a swap between floating rate Sukuk (FRS) and fixed rate zero coupon embedded Sukuk (ZCES). Needless to say, the limit is not here. According to the standard, Islamic bonds should be classified into three categories according to investment intentions, rather than two catego ries in accordance to the period of holding as is the practice in the traditional accounting. The classification of Islamic bonds is made to promote public maslahah or interest as underlies in the determination of zakat. Further, the standard states that the recognition for investment in Sukuk and shares shall be made on the acquisition date. In terms of its measurement, Islamic bonds should be measured at historical cost rather than fair market value. The standard also specifies the necessary requirements for Sukuk disclosures. The goal of these disclosure requirements is to ensure that adequate disclosure is made by the issuer of Sukuk for the purpose of assessing whether or not it complies with Shariah Law. In the effort to position Malaysia as a premier international Islamic financial centre, the Malaysian government has to encourage the private sector to be more innovative in developing products and services that are in line with Shariah. It is also imperative that the accou nting practices adopted in the recording and reporting of Islamic bonds fully conforms to Shariah requirements and principles. Islamic scholars must continue to work with the financial professionals so that the knowledge gap between them can be reduced. In the future, empirical research should be carried out to compare the accounting treatment adopted and the reporting practices of organizations issuing Sukuk in Malaysia. It will also be beneficial to investigate the main differences between the practices adapted to account for Sukuk and the conventional bonds under the traditional accounting system. The sukuk market delivers a lot of advantages to both issuers and investors. Issuers can advantage from the bulky rose in liquidity in the Islamic world and also may beat on these new sources of funds. Rising funding from the Islamic bond market in the current environment has been 10 to 20 basis points lower than mainstream bonds. Numbers of multilateral that arise in agencies are is suing sukuks to finance development projects. In addition, both government agencies and the corporate sector have considered the sukuk market as an attractive source of financing. From the investor point of view, there are the benefits of diversification. In a sukuk issue in 2005, 48 per cent of the issuance was subscribed by conventional-based investors. This increased appetite for sukuk reinforced by excess liquidity in the global financial system is part of the reasons sukuks are attractively priced for issuers. The other benefits of investing for sukuk instrument is, firstly sukuk are valued aggressively in channel with conventional bond issues. Secondly, sukuk generally have better risk profile. Next, sukuk are contractible and fill the need for Shariah compatible tradable instruments. Lastly, short term Islamic financial market can benefit from Sukuk. In the nutshell, Sukuks provide an important research agenda for the future. Our research only clearly covers some of the important points. There is more work to be done and these topics can be expanded upon in further studies.

Wednesday, May 6, 2020

Increase of Diversity in Law Enforcement Impacts and...

How can society benefit if diversity is increased inside law enforcement? Introduction Diversity is an important factor in the law enforcement agencies. It is important to mention here that police and law enforcement agencies depend on the assistance and the help from the public whereas without the support of the public, police and law enforcement agencies cannot function properly. Most importantly, it has been seen that various members from a number of ethnic minorities do not support the activities and the rules of law enforcement agencies. Here it can be added that within the law enforcement agencies, an increased diversity can help the society and community in a number of ways (Sklansky, 2006, p. 1210). Law enforcement agencies are more pronounced and function openly within the public based on which if law enforcement agencies are more diverse, it shows that the agencies believe in treating all minorities, races and ethnicities with equality. Secondly, with an increased diversity in the law enforcement agencies, the police workers and the law enforcement officers w ould be aware of the use of the sensitive remarks towards minorities, ethnicities, and races in the country within the official and public places. The importance of diversity cannot be ignored and the importance of diversity within the law enforcement agencies can also be understood within the community which is populated with a single race or ethnicity community. Changes in Diversity Dynamics in LawShow MoreRelatedIdentifying Barriers Of Diversity For Law Enforcement Agencies1614 Words   |  7 PagesHenry Dimitroff November 3, 2016 Course Project – Introduction: In the article â€Å"Identifying Barriers to Diversity in Law Enforcement Agencies† by Carl F. Matthies, Kirsten M. Keller, and Nelson Lim the issue of diversity in the law enforcement workforce is brought to task. 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Tuesday, May 5, 2020

Business Economics Interest Rates and Coupon

Question: Critical analysis is an important test of the students ability to evaluate business economics concepts. Introductions and conclusions should briefly address the issues to be discussed and discussed respectively. Answer: Introduction: The main theme of the article features the effects and the reasons for lower interest rate in the economy of Britain over the last seven years. There are difficulties and challenges faced in the financial market, as the low interest rate is constant in the bygone years (Baaquie 2012). Some central banks are concerned about pumping more funds in the economy through the program to lower the rate of interest and escape from the adverse effect. Interest rates are expressed for a single period or different periods. When the rates are low, the economy is seen to boost in the short run. Apart from the low interest rate effects, the policies for the betterment are also considered. Impact of lower interest rate in UK: Interest rate is the percentage of the principle that is paid to the lender by the borrower with a definite time. The policies related to the interest rate are governed by the Central bank of the country. The following are the effects noticed in the economy of UK due to lower interest rates. Due to lower rate of interest, the incentive to save reduces. The means there is lower amount of investment. This will lead to consumers to spend more money than keep it in the bank, which would earn lower yields (Blanchard and Johnson 2013). There are cheap costs of borrowing and it encourages the firms and the consumers to take the loans to finance big investments (Hubbard, O'Brien and Sharma 2012). A fall in the rate of interest reduces the payments and the cost of mortgage. Thus, the consumers will have more disposable income to enjoy (Hubbard and O'Brien 2012). When there is lower interest rate, there are more people available to buy the assets. The customers will be motivated to spend more when there is rise in wealth and prices of houses (Cuny, 2012). When there is fall in the rate of interest, the country get lesser attractive than the other country. This will not motivate the people to invest in the economy. With lower demand there is fall in the exchange rate. The Use of the Aggregate Demand and Aggregate Supply Model for Macroeconomic Interpretation: The model of AD and AS has been used to discuss the macroeconomic interpretation. With the fall in the rate of interest, there would be rise in the AD. AD is the sum of consumption, investment, export and imports (Mankiw 2012). There is an inverse relation of investment to the rate of interest. Thus, when there is a fall in the rate of interest there is a rise in the level of investments. This would help in increasing the consumption of the individuals. Thus, there is a rise in the Aggregate demand in the economy. The diagram below shows the effect of the lower interest rate on the AD and AS curves. There is rise in total demand, which causes a shift in the AD curve from AD to AD2. The price level falls from P1 to P2. Thus, it can be said that the real GDP of the economy rises and ultimately the rate of inflation increases (Mankiw 2012). Figure 1: (Source: McTaggart, Findlay and Parkin 2012) When looking into the economy of Britain that faces a low rate of interest over the seven years is could be seen that the low interest rate induces inflation index Several factors are affected by the lower interest rate in the economy. The factors are as follows: There is a boost to the short run macroeconomic parameters. As per the economists, the abrupt boost helps in gaining within that time but the boost is reduced by the rise in the rate of inflation (McTaggart, Findlay and Parkin, 2012). There are more money spent by the people for the consumption of the goods while delay is done by the lenders for the consumption of the newer products There is a choice for the lender to invest money on goods People are seen to prefer more of other forms of money rather than liquid form As per the economic state in the country, the interest rate is seen to fluctuate. The following diagram shows the trends in the inflation rate due to the presence of lower interest rate in the year 2009 that was actually because of the high economic growth and also due to the presence of other factors involved (McTaggart, Findlay and Parkin 2012). Figure 2 (Source: Walters 2012) Figure 3 (Source: Walters 2012) Expectation from the Central Bank of the country: There are some points that are seen regarding the policies of the central bank and lower interest rate in UK. The points are as follows: When there is cut in the base rate by the Central bank, this is not supposed to be passes on to the consumers (Perloff 2012). For example in the year 2008-2009, there was shortage of liquidity in the banks wanting for more deposits. Thus, the interest rate cut of 0.5 percentages were not able to affect the banks to reduce the rate of interest and this has hardly influenced the consumers. The fall in the interest rate should lead to higher levels of economic growth. There is however, probability of some factors, which led to depression in the economy. One such reason was the global financial crisis. Though there was lower interest rate level, the banks were not agreeing on providing of loans. An example of this was during the global recession of 2008 when there was lowering of mortgage availability. This will prevent the people to get lower rate of interest from the banks (Walters 2012). Due to the presence of lower rate of interest, people are unwilling to borrow. When there is cut in the rate of interest, people are seen to be confident enough to spend more. The reports of 2008 confirm there is high savings ratio during the time of recession. During the time of deflation, the people are seen save due to high interest levels. There is different impact of lower interest rate on the different groups and societies: The borrowers and the homemakers are benefited from the lower interest rates as they have opportunity to spend more The savers are affected due to the lower interest rates. An example for this is the group of retired people. When there are too many savers present in the economy then the lowering of the interest rate will reduce the overall income in the economy. In case for economy of Britain, the fall in the interest rate would have a huge impact as there would be high proportion of whom rather than buying is seen to rent. The current account balance concept also needs to be considered. The concepts are as follows: When there is lower rate of interest rate, the consumers are able to spend more. The proportions of the imports are seen to rise. This would lead to fall in the current account balance. The lower level of interest rate is also a cause of depreciation in the rate of exchange, which make the exports quite competitive. When there is relative elastic demand, a lowering of the rate of interest would lead to improvement in the current account. This would lead to no effect on the current account balance. The Model Of Loanable Funds Market Interpreted Through Macroeconomic Perspective: The microeconomic perspective of the lower interest rate is discussed in this section. The change in the rate of interest is considered as the microeconomic demand and supply concepts where the price of the good can be referred to as the interest rate. This is explained through the firms behavior. The market of loanable funds is considered where the demanders are the borrowers and lenders are the suppliers of the funds. The behavior of the firm depends on the net value that is dependent on the interest rate. When there is lower interest rate, the firms are willing to take more amount of capital. This means there is more demand for the loanable funds. If there is higher interest rate, the capital demanded is also less. The demand for funding falls as there is high interest rates. There is a downward sloping curve for demand for loanable funds (Zopounidis, Pardalos and Baourakis 2012). This implies there is an inverse relationship of interest rate and capital. Lenders are the fund supp liers the future availability of the funds is decided by them the decision is complicated for the firm. It is generally seen that the higher interest rate the loanable funds are attractive. Figure 4 (Source: Zopounidis, Pardalos and Baourakis 2012) The changes in the demand for capital and loanable funds have been discussed. The effect of the changes in the interest rate is shown. When new technology is adopted then interest rate rises from by the amount r (McTaggart, Findlay and Parkin 2012). Conclusion: This article is on the lower interest rate in the economy of Britain over the seven years. The rate of interest is the one that is paid by the borrowers to use the money that is taken from the lenders. The literal meaning is that it is a percentage of the principal that the borrower pays number of period. The consumer preferences changes over the lifetime so the decision of the consumers are confusing. The consumers are seen to hold lesser money when interest rate falls. Savings is also seen to fall for completing the need of the present. The central bank needs to increase the rate of interest in terms of macroeconomic parameters. 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