Monday, August 24, 2020
Symantec, one of the worldÃ¢â¬â¢s driving system security programming organization is confronting numerous administrative hindrances In todayÃ¢â¬â¢s worldwide commercial center, where client desire and constantly developing worldwide contenders have radically shorted the item lifecycle. Symantec is looking more than 20,000 infection tests every month, not which are all one of a kind, independent infections. In addition, managing this basic and time delicate difficulties, requires excellent gifted employeeÃ¢â¬â¢s that is SymantecÃ¢â¬â¢s jumpers reaction group spread out in redistributed gatherings everywhere throughout the world.Managers for an organization, for example, Symantec needs to keep the experts amped up for work, despite the fact that it is a daily schedule, normalized and tumultuous condition they work inside. To deal with this, they have to utilize their specialized, human and applied aptitudes. Theoretical expertise is the accessibility to envision the associatio n all in all. Symantec is spread out all through the entire world, so the directors need to monitor diverse time regions so they have individuals working every minute of every day on the off chance that erratic infections would show up.Symantec, as said previously, is one of the worldÃ¢â¬â¢s driving system security organization and it is difficult for the supervisors to persuade every worker, and cause them to feel uncommon. That is the place the human connection aptitudes is essential from the chiefs inside the organization. Since new infections are springing up arbitrarily without planning, the directors should let the expert employeeÃ¢â¬â¢s attempt to function as self-autonomous as could be expected under the circumstances, so they donÃ¢â¬â¢t have any rules to monitor since all infection cases are different.In expansion, the administrators need specialized abilities. They should be taught with the hardware that is being utilized inside the organization, so when interruption s or issues appear, they are arranged and experienced with it, and can manage it quick so not important time goes to squander. The activity chief Patrick Fitzgerald needs to play distinctive sort of the executives jobs in various sort of cases. At the point when Mr. Fitzgerald has week by week security preparation phone calls with colleagues around the world, he needs to play a supposed Liaison Role.This implies that he will be a chief that fills in as an interfacing join between his associates and learn he gets from collaborators on other area all through the world. At the point when he is surveyed the possibility of including another system security counseling administration, He should be educated by the various potential results, he should be set up for what can turn out badly. He needs to have data and be certain that it the expected impact of the new speculation is beneficial and not something inefficient. An administration job, for example, pioneer is essential when he needs t o keep his representatives concentrated on the companyÃ¢â¬â¢sÃ¢â¬â¢ responsibilities to customer.The pioneer is answerable for deligating assignments and ensuring that each errand is done appropriately and answered to the following individual in the chain of the executives. The data of the Company Symantec we can discover on their site, about its accentuation on client support and development is that they are resolved to give high security to the clients and their PCs. They enable their workers by teaching them so they can take more choices all alone without heading off to a higher instance.Conclusion Symantec is a worldwide pioneer in giving security, stockpiling and frameworks the executives answers for help the clients. It is a worldwide organization with representatives redistributed everywhere throughout the world which makes the managerÃ¢â¬â¢s work considerably harder. Notwithstanding that, it is a disordered business with issues and issues springing up, for example, inf ections without have the option to get ready for it. Their fundamental center is to engage their expert representatives to think all alone and work autonomous without take the issue to higher examples.
Saturday, August 22, 2020
Worldwide Management 2 - Essay Example Because of this, International Human Resources Management has gone to the front line. Worldwide Human Resources Management tries to set down normal standards, answers for issues and work force the board frameworks to help this new period of worldwide extension change into an example of overcoming adversity and to assist associations with adjusting and get better outcomes. Working in a nation that one is curious about with, is an extraordinary test in itself. All the more along these lines, when it includes the foundation of a branch office of oneÃ¢â¬â¢s organization or manages the effective inception of an augmentation of your organization, in a situation totally not quite the same as the one you know about. Subsequently, a lot of figured handling and execution must go down into such plans, before setting out on an end. Thailand is one of the positive quickly developing destinations for universal extension of business, exchange and trade. Move of innovation, the degree of association of the nearby assets, the net cash benefit, and so on are a portion of the components that are investigated, before the green sign for the foundation of auxiliaries is given. At the point when a worker should be sent to another country by an organization, both, the organization just as the representative need to investigate certain imperative factors that effect and have an effect on fruitful spell of the auxiliary organization, in a host nation. The procedure utilized in the extension procedure will without a doubt assume a ruling job in deciding the degree of achievement got by the proposed arrangement. Extraordinary abilities of workers are not appropriately perceived as proposed by the administration. Rather, there exists the dispersion of perseverance of such ability based work draws near. The sharing of undertakings can prompt the honing
Tuesday, July 21, 2020
The Benefits of Online Courses Why You Should Try an Online Course Why You Should Try an Online Course The Internet has made life easy and convenient for us over the years. You can buy almost anything, find a date, learn new thingsâ¦ you can even cash cheques! Online tutoring services have begun to spring up around the web, but online courses are also becoming an alternative for a lot of students who find it hard to learn in class. Many students prefer taking online courses to traditional lecture courses for many reasons. Did you know that 3 million students in North America are currently enrolled fully in online programs? Thatâs a lot of students who are using modern technology to learn new things. Hereâs why you should consider joining those students and taking some online classes. You Can Learn at Your Own Pace Online courses generally provide you with the lecture and reading material up front, and then give you a certain time frame to complete it. In addition, most courses use YouTube video-style or PowerPoint lectures which allow you to pause and rewind if you miss something. You can also determine the pace you learn at, so if thereâs too much information to process at once, you can leave it and come back to it later. They Are More Accessible Than Going to Class For those who live with disabilities, whether they are physical or mental, it can be hard to make it to class regularly. Not all universities are fully accessible, either, which can mean itâs hard to get to class when youâre in a wheelchair or visually impaired. When you take an online course, you donât have to go anywhere, which makes it a lot easier and more comfortable to get your education. If you have a learning disability, or any other condition that limits your intake, consider an online tutoring program to help you fully grasp the material. They Fit in Your Busy Schedule Many university students find that they need to balance a part time job and school in order to pay for things like tuition, groceries, rent, and books. Unfortunately, having that job can lead to a lot of stress when it comes to balancing your workload. Online courses are much more flexible and allow you to keep up with your job while maintaining a good grade and getting all of your work done when you can. You Can Learn in Your Pyjamas! The best part about doing your course from home is that thereâs no dress code! So you can do your work in your pyjamas if you want to! It doesnât get much better than that. Try The Online Tutoring Services at Homework Help Canada At Homework Help Canada, we know that the ability to do something online is convenient and easy for you. Thatâs why we offer online tutoring services, as well as custom essay writing services, so you donât have to take too much time out of your day to get ahead. See what we have to offer and browse through our services page to find what you need and order now! References: Learning House. âOnline Students 2012: Comprehensive Data on Demands and Preferences.â Learning House. 2012. Accessed 10 Feb. 2017. . The Benefits of Online Courses Why You Should Try an Online Course Why You Should Try an Online Course The Internet has made life easy and convenient for us over the years. You can buy almost anything, find a date, learn new thingsâ¦ you can even cash cheques! Online tutoring services have begun to spring up around the web, but online courses are also becoming an alternative for a lot of students who find it hard to learn in class. Many students prefer taking online courses to traditional lecture courses for many reasons. Did you know that 3 million students in North America are currently enrolled fully in online programs? Thatâs a lot of students who are using modern technology to learn new things. Hereâs why you should consider joining those students and taking some online classes. You Can Learn at Your Own Pace Online courses generally provide you with the lecture and reading material up front, and then give you a certain time frame to complete it. In addition, most courses use YouTube video-style or PowerPoint lectures which allow you to pause and rewind if you miss something. You can also determine the pace you learn at, so if thereâs too much information to process at once, you can leave it and come back to it later. They Are More Accessible Than Going to Class For those who live with disabilities, whether they are physical or mental, it can be hard to make it to class regularly. Not all universities are fully accessible, either, which can mean itâs hard to get to class when youâre in a wheelchair or visually impaired. When you take an online course, you donât have to go anywhere, which makes it a lot easier and more comfortable to get your education. If you have a learning disability, or any other condition that limits your intake, consider an online tutoring program to help you fully grasp the material. They Fit in Your Busy Schedule Many university students find that they need to balance a part time job and school in order to pay for things like tuition, groceries, rent, and books. Unfortunately, having that job can lead to a lot of stress when it comes to balancing your workload. Online courses are much more flexible and allow you to keep up with your job while maintaining a good grade and getting all of your work done when you can. You Can Learn in Your Pyjamas! The best part about doing your course from home is that thereâs no dress code! So you can do your work in your pyjamas if you want to! It doesnât get much better than that. Try The Online Tutoring Services at Homework Help Canada At Homework Help Canada, we know that the ability to do something online is convenient and easy for you. Thatâs why we offer online tutoring services, as well as custom essay writing services, so you donât have to take too much time out of your day to get ahead. See what we have to offer and browse through our services page to find what you need and order now! References: Learning House. âOnline Students 2012: Comprehensive Data on Demands and Preferences.â Learning House. 2012. Accessed 10 Feb. 2017. .
Thursday, May 21, 2020
Sample details Pages: 15 Words: 4590 Downloads: 5 Date added: 2017/06/26 Category Economics Essay Type Research paper Did you like this example? Over the past few decades, the connection between macroeconomic variables and the movement of stock prices has been a subject of interest among academics and researchers. It is often argued that stock prices are determined by some fundamental macroeconomic variables such as interest rate (Base Lending Rate, BRL), exchange rate, inflation (Consumer Price Index, CPI), industrial production index and money supply (M2). In fact, investors generally believe that macroeconomic events have a large influence on the volatility of the stock prices, which in turn motivates researchers to explore the relationship between macroeconomic variables and stock prices. 1.1 Research Background The relationship between stock prices and macroeconomic variables has been widely investigated in scientific literature. Sohail and Hussain (2009) claimed that the stock market plays an important role as it mobilizes domestic resources and channels them to productive investment, which leads to economic growth in a country. It acts as a mechanism that facilitates flow of funds from saver to borrower. A well-organized stock market makes an attractive feature of issuing and investing in stocks. From the corporations perspective, the stock market allows it to raise funds by selling additional shares of ownership. On the other hand, it also provides liquidity to investors. In other words, investors are able to quickly and easily convert their securities to cash. A companys stock price is determined by the perception of investors on true value of the stock. Stock prices are also affected by all forms of company and market news. According to Asmy, Rohilina, Hassama, and Fouad (2009) as well as Maysami, Lee, and Hamzah (2004), the efficient market hypothesis suggests that efficient market is where new information about changes in macroeconomic variable is quickly incorporated into the price so that the current market price reflects all available information. Therefore, no one can outperform the market or earn abnormal profit consistently in the market. However, some evidences are against this theory and shown that abnormally higher return can be earned. The stock price is the primary indicator of a countrys economic strength and development (Shahbaz, Ahmed, and Ali, 2008). This means that when stock prices move up or down, due to demand and supply of stock prices, it can be used to predict the economic condition in the future. A rise in stock prices always associate with increased business investment which improves the economy of a country and vice versa. Stock prices have some impacts on economy as revealed by Enisan and Olufisayo (2009). Firstly, stocks ar e one of the types of people assets, thus changes in stock prices will affect the wealth of investors. A fall in the stock price, for instance, will lead to loss of money on stocks that investors are holding. They become more hesitant to spend money and this contributes to a fall in consumer spending which then prohibit the economic growth. Other than this, stock prices can affect the investor confidence. As known that stock prices movement always reflect the condition of the economy, a fall in stock prices, for instance, discourage investors from investing in stock market which can lead to stagnant of economy. Moreover, stock prices are also play an important role in affecting the investment in a country. A fall in the stock prices, for instance, makes the ability to raise funds become more difficult. Thus, this discourages those firms from expanding their businesses and making investment. As a consequent, economy of a country will not be improved. Most countries in Asia were si gnificantly affected by the Asian Financial Crisis during year 1997, and Malaysia has been no exception. The crisis which originated from Thailand had great impact on Asia countries especially in aspect of currency value. Before the crisis, Malaysian currency was pegged to U.S. dollar. At that time, as U.S. dollar was operating under floating exchange rate, therefore, the pegged currency of Malaysian was floating as well. Thus, the currency of Malaysia was greatly affected by the crisis (Daniel, n.d.). At the beginning of 1997, the Malaysian currency is trading at 2.49 and KLSE composite index was 1216. After the emergence of the crisis, KLSE composite index continuously dropping around 75% and this phenomenon last until August 1998 which reached 303. While for currency, the Malaysian currency kept depreciating and reached its peak of 4.545 in January 1998. Besides, for industrial production index, was also declining in the beginning of 1998 due to fall of production in various d ivision including electricity and electronic, manufacturing and wood products. On the other hand, using year 1999 as the base year, the inflation rate increased from the initial 92.68 in the end of year 1997 to 97.59 in the end of year 1998. In response to the crisis, various defensive measures were introduced. One of them was fixing of the ringgit peg to the US dollar at 3.80 that imposed by the premier, Dr. Mahathir Mohammad (Dori, 1998). In order to fight against the depreciation of currency and rising of inflation, Malaysian government decided to temporarily raise interest rates. Therefore, the interest rate increased from initial 9.58% in July 1997 to 12.07% in July 1998. This led to higher return on Malaysian investment and attracted more foreign capital as a strategy to inflate the effect of depreciation. For inflation, rises in the interest rate encouraged people to save instead of spend that helped to reduce inflation. In this globalized era, the financial systems in different countries around the world are integrated. Again, Malaysia is suffering due to the global financial crisis that was originated from United States in year 2007. However, Malaysia may not witness sharp downturn as compared to Asian Financial Crisis in 1998 (Asmy et al., 2009). This might due to Malaysia stock market has little linkage with the subprime loan in United States. The negative shock from United States was transmitted to Malaysia in the fourth quarter of 2008. Malaysian government de-pegging of the Ringgit from the US dollar in 2005, the Malaysian currency had depreciated from initial 3.4575 in September 2008 to 3.6085 in January 2009. On the other hand, the industrial production index declined as well started from the end of year 2008. Among those divisions that were significantly affected were electrical and electronic, textiles wearing apparel and footwear, rubber, wood as well as paper products. DonÃ¢â¬â¢t waste time! Our writers will create an original "The connection between macroeconomic variables and stock price" essay for you Create order 1.1.1 Malaysian Stock Market Bursa Malaysia is an exchange holding company approved under Section 15 of the Capital Markets and Services Act 2007. It operates a fully-integrated exchange, offering the complete range of exchange-related services including trading, clearing, settlement and depository services. The wholly-owned subsidiaries of Bursa Malaysia own and operate the various businesses. Today, Bursa Malaysia is one of the largest bourses in Asia with just under 1,000 listed companies providing a wide range of investment choices to the world (Bursa Malaysia, 2010). In 1930, the first formal securities business organisation introduced in Malaysia was the Singapore Stockbrokers Association. It was later re-registered as the Malayan Stockbrokers Association in 1937. The Malayan Stock Exchange was established in 1960 and the public trading of shares commenced in the clearing house of Bank Negara Malaysia. Due to the termination of currency interchange ability between Malaysia and Singapore, the Stock Exc hange of Malaysia and Singapore was divided into the Kuala Lumpur Stock Exchange Berhad (KLSE) and the Stock Exchange of Singapore (SES) in 1973 (Bursa Malaysia, 2010). On 14 April 2004, Kuala Lumpur Stock Exchange Berhad changed their name to Bursa Malaysia Berhad. Besides, they employ demutualization in order to enhance the competitive position and to respond to global trends in the exchange sector, leading to become more customer-driven and market-oriented. On 18 March 2005, Bursa Malaysia was listed on the Main Board of Bursa Malaysia Securities Berhad. In Dec 2008, Bursa Malaysia launched a new trading platform called Bursa Trade Securities, enabling faster processing and execution of orders and providing wider trading functions and features (Bursa Malaysia, 2010). As part of Bursa Malaysias strategic initiative, the Kuala Lumpur Composite Index (KLCI) was enhanced to ensure that it remains robust in measuring the national economy with growing linkage to the global econom y. Bursa Malaysia together with FTSE, its index partner, had integrated the KLCI with internationally accepted index calculation methodology to provide a more investable, tradable and transparently managed index. The enhanced KLCI, whilst remaining representative of the Malaysian stock market, provided a platform for a wider range of investable and appealing opportunities. The KLCI is now known as the FTSE Bursa Malaysia KLCI and the enhancements were implemented on 6 July 2009 (Bursa Malaysia, 2010). There are six main advantages for implementing FTSE Bursa Malaysia KLCI, which are the followings (Bursa Malaysia, 2010): The KLCI is known as FTSE Bursa Malaysia KLCI to provide global relevance, recognition and reach. The new index complies with the international accepted calculation method, enabling a comparison among other countries stock index that makes it more relevant with the global financial condition. A market barometer made up of primary market movers will more apt ly define market activities while remaining representative of the Malaysian stock market. Stocks that are not marketable or without a good rating should be eliminated out of the index because it will only drag the value of the average market index. Thus, the new index only consists of 30 most rated and marketable stocks from various sectors. The FTSE Bursa Malaysia index calculation methodology emphasises free float and liquidity screens for a clearer representation of the market. Unlike previous KLCI index which consists of 100 companies, the new index only focus on the 30 stocks which are always liquid and marketable in order to give a true picture of the market. A smaller basket of 30 stocks makes it easier to manage and more appealing for the creation of Index Linked products to promote market liquidity. The greater the stocks contained in the index, the higher of difficulties in calculating the index. Smaller basket of stocks therefore can make the calculations of index t o be easier and save efforts on monitoring and managing all these stocks. Besides, unsystematic risks can also be reduced because fewer companies are involved into the index. Increasing the frequency of index calculation from every 60 seconds to every 15 seconds tracks the market pulse closely and more efficiently. The new index provides a better accuracy of market values because it monitors the share price more frequently. Hence, it can reduce price misleading with the faster reflection of overall market share prices of index. The continuity of the KLCI index value preserves the historical movements of the Malaysian stock market. Rather than to start with a new value, the new index continues with the previous value to pertain the trends of the Malaysia market for market survey and statistical researches. On 3 August 2009, Bursa Malaysia effectively implemented a merging procedure where main board and second board merged into a single main market while Mesdaq revamped into ACE market. When the second board was established in November 1988, it was to complement the main board by providing smaller companies with firm growth potential, particularly small and medium enterprises (SMEs), with an avenue to raise funds in the equity market. The following year, only two companies were floated on the second board. The population grew to 14 in 1990 and to 160 five years later. Owing to the stock market boom over the next several years, the lightweight listings surged, keeping the ratio of main board companies to second board companies at about 5:3. The number of second board counters peaked in 2000 with 297 companies. The board began the decade with 292 companies but now has 219. The steady decline was partly the result of delisting by the exchange because the companies had failed to rescue themselves from financial woes. To create a well-defined board structure that caters efficiently to the different risk appetites of investors was the prime objective of the unification and the transformation of the Mesdaq Market into the ACE Market. The ACE Market is designed to offer emerging companies early access to equity funding. The Main Market will be for established companies, and will have uniform listing requirements and comprehensive market-based regulation. Another benefit of the merger is that it eliminates the problem of poor sentiment on Mesdaq and second board counters spilling into the main board (Second Board, 2009). Furthermore, this new framework for listings and equity fund-raisings is aimed at allowing efficient access to capital and investments, as well as making Bursa Malaysia a more attractive platform for Malaysian and foreign companies. There is a significant shift in the regulatory approach with regards to listings and equity fund-raisings. This shift to a more market-based regulatory approach is to ensure greater efficiency and competitiveness without compromising on investor protection. Enabling blocks have been pu t in place to enhance the standards of due diligence, disclosures and corporate governance. 1.2 Problem Statement Some of the fundamental macroeconomic variables such as inflation rate, interest rate, exchange rate, money supply and industrial production are generally believed that they are the determinants of the stock price. In general, a number of studies have been issued on the relationship between macroeconomic variables and stock prices in other countries such as the US, Singapore, and Japan. Different studies have provided different results. The result of previous studies have changed according to the macroeconomic variable used and the research methodology employed. This paper extends the literature by examining the effect on stock price due to the different macroeconomic variables by using different methodology approaches including descriptive statistics, unit root test, cointegration test, vector error correction model (VECM) . Besides, in this study, we tend to examine on the relationship between the macroeconomic variable and stock prices in Malaysia. This is due to the previous studies (Gan, Lee, Au Yong Zhang, 2006; Maysami et al., 2004) focus mainly on developed countries such as New Zealand and Singapore. However, developing countries such as Malaysia are less explored by the researcher because most of the people lack of knowledge in this field of study. Therefore, in this paper, we tend to focus this study in our developing country, Malaysia. In previous paper, there is no research investigating those five variables simultaneously with the stock prices in Malaysia. Therefore, we have chosen five macroeconomic variables including inflation rate, interest rate, exchange rate, money supply and industrial production index to examine the variables with the stock prices. Indeed, there are other variables that affect stock prices but we limit our discussion on these variables because of efficiency in modeling as incorporating many variables result in loss of degree of freedom. In our paper, five of the macroeconomic variables are assumed to be signifi cant to the stock prices. For example, we assume that exchange rate has a significant relationship with the stock prices. However, Ahmed and Mustafa (n.d.), Gan et al. (2006), Fama (1981) and Humpe and Macmillan (2009) do not include exchange rate in their research because it seems to be insignificant variable to them. Nevertheless, exchange rate is assumed to be extremely significant variable to the stock price because nowadays is global village where the linkage between local stock market and global stock market becomes tightened. It is due to the fact that fluctuation in exchange rate will affect the foreign investor decision in investing in our country. Home currency depreciation relative to the host country will intensify the demand for the domestic assets because it is relatively cheaper for them to hold. Hence, foreign investors will purchase domestic assets when the home currency is depreciate and sell when the home currency is appreciate in order the gain from the currency differences. For some macroeconomic variables, findings of prior studies are found to differ from our hypotheses since they examine using annually data, instead of monthly or daily data which could provide a better view of fluctuation in macroeconomic activities. Against this background, we reinvestigate the impact of the macroeconomic variable on stock prices based on monthly data. This is because monthly data can reflect a better vision of the fluctuation in the macroeconomic activities compare to the annually data (Rahman, Sidek Tafri, 2009). Therefore, for our research, we used up-to-date time series monthly data from year 1999 to year 2008 to explore the relationship between macroeconomic variables and the stock prices in Malaysia. Using obsolete data to derive the relationship between macroeconomic variables and stock price, it may mislead the current situation in the economy, which in turn brings the information futile. In contrast, using up-to-date data may reflect the current situation in the economy which guides the policy makers to propose an appropriate policy based on our economy situation. We hope this paper can help to shed some useful light for government in stabilizing the stock price in Malaysia. 1.3 Research Objectives 1.3.1 General Objective The objective of this study is to gather information and examine the relationship between macroeconomic variable and the stock prices in Malaysia by using time series data from year 1999 to year 2008. 1.3.2 Specific Objectives To examine the relationship between interest rate and stock prices. To investigate the effect on exchange rate with the stock prices. To explore the interaction between the inflation rate and stock prices. To estimate the result of the relationship between money supply and stock prices. To identify the effect of industrial production on the stock prices. To estimate which macroeconomic variables are better policy instrument in order to stabilize the stock prices. 1.4 Research Questions Two research questions are central to this study: Examine the relationship between macroeconomic variables and stock prices in Malaysia. Determine the macroeconomic variables that can be used to predict stock prices in Malaysia. 1.5 Hypotheses of the Study In order to achieve the objectives of the study, we will hypothesize certain relationships between exchange rate, industrial production index, inflation rate, interest rate and money supply with the Kuala Lumpur Composite Index (KLCI). The following hypotheses are developed. Interest Rate A reduction in interest rates reduces the costs of borrowing and consequently serves as an incentive for expansion, as companies often finance their capital equipment and inventories through borrowings. This will have a positive effect on future expected returns for the firm. Thus, stock prices react negatively to the interest rate and consistent with the findings of Menike (2006), Maysami et al. (2004) as well as Pilinkus and Boguslauskas (2009). We hypothesize the same, saying that an inverse relationship between interest rate and stock prices. H0: Interest rate is negatively related to KLCI H1: Interest rate is positively related to KLCI Our null hypothesis describes that interest rate is negatively related to KLCI, while alternative hypothesis states that interest rate is positively related to KLCI. We assume our null hypothesis is true, in which we do not reject it. Inflation Rate A rise in inflation generates a level of uncertainty, which in turn decreases the economic activity and lowers the expected output in future that finally results a decline on the stock prices. Hence, it is concluded that inflation rate is inversely related to stock prices. The suggestion is consistent with Chatrath, Ramchander and Song (1997) study which provided an evidence of a negative relationship between market returns and inflationary trends in India. We hypothesize similarly, signifying that there is a negative relationship between inflation rate and KLCI. H0: Inflation rate is negatively related to KLCI H1: Inflation rate is positively related to KLCI Our null hypothesis is that inflation rate is negatively related to KLCI, and alternative hypothesis defines the opposite if null hypothesis is not true. We do believe that our results will not allow us to reject the null hypothesis. Exchange Rate Parallel to the empirical studies, we expect that exchange rate is directly correlated to KLCI. This is because assuming that Malaysia is an import-depending country, a depreciation of the ringgit Malaysia will lead to a rise in the cost of imports and consequently reduces the firms profits (Asmy et al., 2009). This decline in firms profits will be reflected in the value of stocks, suggesting a positive relationship between exchange rate and stock prices. The finding is consistent with Menike (2006) as well as Mohammad, Hussain and Ali (2009), who established positive relationship between the exchange rate and stock prices in Sri Lanka and Pakistan respectively. H0: Exchange rate is positively related to KLCI H1: Exchange rate is negatively related to KLCI Our null hypothesis states that exchange rate is positively related to KLCI, while the alternative hypothesis describes that the exchange rate is negatively related to KLCI. Parallel to the empirical studies, we expect t hat we do not reject H0, indicating that exchange rate is positively correlated to the stock prices. Money Supply Theoretically, the money supply has a negative impact on stock prices because, as money growth rate increases, the inflation rate is also expected to increase, and consequently the stock price should decrease. On the other hand, an increase in money supply growth would also indicate excess liquidity available for buying securities, resulting in higher security prices as well as stimulating the economy. So we have found ambiguous effects. Assuming that effects of a rise in inflation rate are minor, we hypothesize a direct relationship between money supply and stock prices, supported by Bilson, Brailsford and Hooper (2001), Menike (2006) and Gan et al. (2006). H0: Money supply is positively related to KLCI H1: Money supply is negatively related to KLCI Our null hypothesis is that money supply is positively correlated to KLCI, while alternative hypothesis demonstrates that money supply is negatively correlated to KLCI. We expect that we do not reject the null hypothesis. Industrial Production Index Industrial production is typically used as a proxy for the level of real economic activity, that is, a rise in industrial production index would signal economic growth. Maysami et al. (2004) hypothesized a similar positive relationship through the effects of industrial production index on expected future cash flows. We hypothesize likewise, saying that industrial production index is positively related to the stock prices in Malaysia. In other words, an increase in industrial production index would lead to a rise in stock exchange prices. Rahman et al. (2009), who found a positive relationship between industrial production index and stock prices in Malaysia, further support this hypothesis. H0: Industrial production is positively related to KLCI H1: Industrial production is negatively related to KLCI Null hypothesis demonstrates that industrial production index is positively associated to KLCI, while alternative hypothesis is that industrial production index is negatively a ssociated to KLCI. We expect that we do not reject the null hypothesis. 1.6 Significance of the Study It is important to know the relationship between macroeconomic variables and the stock prices in Malaysia. This study aims to observe how the determinants will affect the stock prices in Malaysia. It is believed that government fiscal and monetary policies have large influence on the economy including the stock market. Thus, this motivates financial economists, policy makers and investors to have long attempted to understand the dynamic interactions among macroeconomic variables such as exchange rate, interest rate, inflation rate, industrial production index and money supply towards the stock prices in Malaysia (Mansor and Sulaiman, 2001). This study aims to provide a better understanding or meaningful insight for the financial economists, policy makers or governments and investors. It is helpful for them to have a better intuition of the stock market behavior (Rahman et al., 2009). Thus, they will be able to make the adjustments accordingly and eventually move towards achievin g the desired goals. For instance, inflation is a sustained deterioration in the purchasing power of money (EconomyWatch, 2008). Inflation is resulted from various shocks to the economy and will cause changes in the stock prices. Thus, the governments can know when is the need to control high level of unpredictable inflation since it can severely disrupt the economy, and cause uncertainty in financial decisions. By using the monetary policy (increase or decrease the money supply) or fiscal policy (change the amount of taxes and government spending) to control the economic growth in the market, this can prevent fluctuation in the stock prices (GetObject, 2004). On the other hand, the financial economists are interested to know whether the changes in stock prices may influence variations in economic activities and act as a channel of monetary transmission mechanisms. The monetary transmission mechanism requires monetary authorities to take caution in implementing monetary policies especially if they are used to affect movements in the stock prices. This is because the monetary policies can move the stock prices as desired such as implementing expansionary monetary policy to support stock prices (Mansor and Sulaiman, 2001). If the financial economists find that the supply of money is lowered, implying that the government has tightened the monetary policy, which in turn causing interest rate to rise (The Financial Pipeline, n.d.). Thus, they will be cautious about the changes of money supply in order to make proper and adequate adjustments to their policy making process. In addition, by knowing which macroeconomic variables will affect stock prices the most, both the individual and corporate investors would be able to manage their investment decision making wisely according to the changes of the monetary policy (Rahman et al., 2009). Therefore, they will do some research or a study on the economic situation or financial anomalies before they enhance the inve stment decisions. Besides, if they know that the domestic stock prices is increasing which means that the domestic financial assets have become more attractive, the individual or corporate investors will adjust their domestic and foreign portfolios by demanding more domestic assets. As a result, this will lead to an appreciation of the domestic currency. Other macroeconomic variables may also be affected due to these adjustments (Mansor and Sulaiman, 2001). In the nutshells, investors will concern the investment decisions based on the economic condition such as inflation. When there is inflation in Malaysia, individual and corporate investors will attempt to preserve the value of their money by opting for investments that generate yields higher than the rate of inflation (EconomyWatch, 2008). From this scenario, they can have an idea when is the suitable time for them to make investment in order to acquire the opportunity of gaining higher profit. For example, if the investors ex pect there is a rise in inflation in the future, they are likely to invest in the stock market today. Therefore, investors will make the investment decisions wisely. For the academic perspectives, students will likely to know more about which macroeconomic variables might have the strongest effect on the stock prices in developing countries like Malaysia (Rahman et al., 2009). This study can provide them about the linkage of academic theories with the macroeconomic variables, where students will have a better understanding of the usages of the theories learnt. Generally, students are restricted in the paper theory rather than practices because they just study and learn from whatever from the books. Through this study, they can understand the real example on how the macroeconomic variables influence the movement of stock prices in Malaysia, giving a firm evidence to prove the validity of all those theories studied from the books. Besides that, they can know if the financial crisis occurs, what will be the effects to the stock prices, macroeconomic variables as well as economy. 1.7 Chapter Layout The remaining of the paper proceeds as follows. Chapter 2 reviews previous literature and elaborates on the theoretical frameworks. Chapter 3 discusses data used and empirical model to be estimated. Chapter 4 presents the findings and econometric results. Lastly, Chapter 5 provides a summary and concludes the study. 1.8 Conclusion This study aims at examining the role of macroeconomic variables in explaining Malaysian stock prices in order to derive an appropriate policy instrument. By covering time period spans from January 1999 to December 2008, this study employs some fundamental macroeconomic variables including exchange rate, industrial production index, inflation rate, interest rate and money supply. Based on the hypotheses developed, we assume that industrial production index, exchange rate and money supply are positively correlated to KLCI, while inflation rate and interest rate are inversely associated to KLCI. Empirical findings suggest that all of the independent variables appear to significantly influence the stock prices in Malaysia.
Wednesday, May 6, 2020
Do Vampires Exist: Or Bite Me! Since the beginning or recorded history, there have been stories told about vampires. Bram StokerÃ¢â¬â¢s renowned novel Dracula was published in 1897, and since then the myth about vampires has evolved and changed. We now have Stephanie MeyerÃ¢â¬â¢s Twilight Saga and HBOÃ¢â¬â¢s True Blood examining whether vampires exist in the known world. Whatever you think, you should be aware that vampires are creations of fiction writers based on old folk tales. On the other hand there are those who believe in Vampires. According to Vampire expert Ian Holt, Ã¢â¬Å"Vampires have existed throughout antiquity in every culture. I have met them. They have a culture and religion and they do drink blood. ItÃ¢â¬â¢s given to them by willingÃ¢â¬ ¦show more contentÃ¢â¬ ¦They are the latest in a succession of finds across western and central Europe which shed new light on just how seriously people took the threat of vampires and how those beliefs transformed into the modern myth. The two skeletons, believed to be around 800 years old, were discovered during an archaeological dig near a monastery in the Bulgarian Black Sea town of Sozopol.Ã¢â¬ In todayÃ¢â¬â¢s society there is a greater than usual detachment from reality. With all the movies and T.V. shows featuring vampires, and how glamorous and wonderful it would be to be one with not a care in the world, and all the wealth you could ever want. Vampire stories have been around since the dawn of man and will continue until the end of mankind and they will continue across the millennium of time, but not in fact based reality Work Cited Gandhi, Sohang and Costas Efthimiou. Ã¢â¬Å"Are Vampires Real? Physics Professors Gandhi and Efthimiou Drive a Stake into the Heart of the Supernatural MythsÃ¢â¬ Scicop.org. Volume 31.4, July/August 2007. Web. 27 March 2013. Holt, Ian. Ã¢â¬Å"Vampires Do Exist, I Have Met ThemÃ¢â¬ Show MoreRelatedVampire Existence1641 Words Ã |Ã 7 PagesVampire existence Almost each nation has legends about vampires that rummage people at night and drink their blood. In these legends, vampires are brutal, heartless, half-decayed creatures. For example, Slavic mythology has a belief that a vampire wonÃ¢â¬â¢t get out of grave if you throw some corn inside. The vampire will count corns all night long. But the image of a vampire has changed. Today it is an mysterious sexy superstar that kept its peculiar traits: love of blood, hate for garlic, and fearRead MoreVampires Real?1083 Words Ã |Ã 5 PagesVampires Are Real With todayÃ¢â¬â¢s media a fascination with monsters has risen to an all-time high. One monster in particular, though, has become the center point for all attention, the vampire. Many believe the existence of vampires is just a myth. One valid arguments of non-believers is that if vampires did exist, wouldnÃ¢â¬â¢t they have depleted their food source? Early legends of vampires are supported by the belief that people suffering from a deadly, but rare, blood disease not vampirism. BelieversRead MoreGothic review1035 Words Ã |Ã 5 PagesRiceÃ¢â¬â¢s Vampires have a lot to do with homosexuality and HaggertyÃ¢â¬â¢s highlighting this is in no way a new criticism, but the claim that is must be read as gay is entirely dismissive of the many other sexual paradigms that exist within The Vampire Chronicles. To begin with, his referral of Lestat as a Ã¢â¬Ëgay predatorÃ¢â¬â¢ seems unfair in its definition. The fact of his being a vampire automatically asserts him as a Ã¢â¬ËpredatorÃ¢â¬â¢, but his relationships are not exclusively homosexual. He is a vampire that merelyRead MoreCourtroom Case : Phyllis A. Roth Essay1558 Words Ã |Ã 7 Pagesand the concept of femininity. She writes about the transformation that takes place when a proper lady turns into a sexual vampire. Her article points out where hostility toward women s sexuality is displayed in the novel, that the average reader may not pick up on. Roth has a strong argument. Let us examine RothÃ¢â¬â¢s case. First, let us look at her thesis statement. The argument Roth is trying to make is that the Ã¢â¬Å"pre-Oedipal focus of the fantasies, specifically the child s relation with and hostilityRead MoreFemale Sexuality 1162 Words Ã |Ã 5 Pagesthey can exist at the same time. In DRACULA, the general content is about the fighting between Dracula and humans, since Dracula tries to transform all the female characters into vampires. The language of the book is not very sexual, but the word Ã¢â¬Å"VoluptuousnessÃ¢â¬ did shows up a lot in the book. The female characters, Mina, Lucy and the three sisters, they have different personalities, different attitude to love, and different virginity. When Dracula tried to transform them into vampires, they experienceRead MoreAnalysis Of Stephen King s Salem s Lot Essay1132 Words Ã |Ã 5 PagesLot, Ben Mars is meant to be the normative hero, but instances like this places Susan against normative attitudes constructed in the book. Thus, while it may appear that SalemÃ¢â¬â¢s Lot is solely about the townÃ¢â¬â¢s struggle with the vampiric entity that exists within it, it is also about the attitudes like MarkÃ¢â¬â¢s, which are set up to prevent women like Susan from being the hero she wants to be. Mark comments, Ã¢â¬Å"It was a girlÃ¢â¬ (King 423). MarkÃ¢â¬â¢s use of the term Ã¢â¬Å"girlÃ¢â¬ , whether intentional or not, serves toRead MoreSexuality In Bram Stokers Dracula1082 Words Ã |Ã 5 PagesSexuality in Bram Stoker s DraculaBram Stoker s Dracula, favorably received by critics upon publication in 1897, entertained its Victorian audience with unspeakable horrors such as vampires invading bedrooms to prey on beautiful maidens under the guise of night. The novel s eroticism proved even more unspeakable. Received in the era of repression, it remains questionable whether Dracula s readership perceived the sexuality flowing from the page. An advocate for the censorship of sexual materialRead MoreDependence By Octavia E. Butler1410 Words Ã |Ã 6 Pages a science fiction vampire novel written by Octavia E. Butler. In her novel, Butler portrays dependence as a natural component of symbiotic relationships with many varying forms of expression. Based on this, she also show s a connection between co-dependence and addiction while still recognizing them as separate entities. One of ButlerÃ¢â¬â¢s main, overarching arguments is that dependency is ingrained in all people naturally. Because of this, she purposefully chose to use vampires, fictional fantasy figuresRead MoreRichard Matheson s I Am Legend 1154 Words Ã |Ã 5 Pageshusband. Your average joe working a blue collar job in the 1950 s, facts of life that change for him once the plague took hold of humanity. He created a safe-guarded sanctuary for himself within his own home fortified by garlic and crosses from the vampires who dominated the fallen world outside. Solitude was his only companion. Society provided Neville with support, structure, morals, and a community. With the fall of society, Neville priorities had changed. He had changed. Whilst the novel appearsRead MoreDracula, By Bram Stoker1148 Words Ã |Ã 5 Pagesis the beast versus the man, whom are those that are normal and/or human beings (not a beast). This doubling actually comes very useful later on in RiquelmeÃ¢â¬â¢s argument a s well. To help better summarize RiquelmeÃ¢â¬â¢s thesis, he is meaning to pose the theory that these supposed doublings in Dracula are challenging the assumed differences that exist within society, suggesting that these meant-to-be contrasting societal groups are more-so similar than they are different. He is arguing that the characters
string(285) " to find the scholars Ã¢â¬Ë learned preferable behaviour forms after taking a class, Bloom Ã¢â¬Ës taxonomy has long been applied by pedagogues, instructional interior decorators in order to orient and accomplish the aims, lesson, and appraisals \( Joyce A ; Weil, 1996 \) \." Most attacks to developing critical thought are rooted in doctrine. The philosophical positions of believing are based on ground in order to steer behaviour with formal logic harmonizing to Aristotle and Plato and formal logic. The formal logic attack has appeared since the 1950s and after that in the stuffs developed by Lipman ( 1985 ) and Ennis ( 1985 ; 1987 ) . We will write a custom essay sample on California Critical Thinking Skills Test Education Essay or any similar topic only for you Order Now On the other manus, in the early 1990s, Marzano ( 1991 ) declared that critical thought is now utilizing psychological attacks every bit good as philosophical 1s. The psychological attacks consider the human head as a working mechanism that can be studied from cognitive psychological positions that include metacognition, componential ( sum uping, comparing, analysing, oppugning and developing visuals ) and heuristics ( job resolution and decision-making ) . Dispositional attack is besides another attack, introduced by Marzano ( 1991 ) , as wonts of head, cognitive mental sets for specific state of affairss. The socially-based attacks adjoin the philosophical and psychological attacks represented by Heath ( 1991 ) . A societal attack includes larning to believe critically in collaborative acquisition state of affairss. Thankss to these diverse attacks, critical thought has become broader. Benesch ( 1993 ) , one of the postmodernist advocates, gives us a different definition of critical thought. She believes that critical thought is a procedure of oppugning the position quo and of disputing bing cognition and the societal order. She sees it as a investigation for societal, political and historical beginnings of conventional cognition and an orientation to change acquisition and society. Harmonizing to Benesch and her followings, critical thought is a democratic acquisition procedure which encourages scholars to take part actively and raise issues of concern in their day-to-day lives. Therefore, the scholars can associate their ain experience to the linguistic communication, political relations, and the history of the new civilization. In malice of the effectivity and efficiency of critical thought and promoting learning critical thought in schoolrooms, pedagogues, trial shapers, and experts are concerned about scholars Ã¢â¬Ë hapless critical thought. The fact is that the scholars ever do non utilize good thought accomplishments or they add indefensible premise into their logical thinking and have jobs to happen alternate solutions and believe creatively. Another job is the important power over scholars by publishing house and writers. In order to antagonize this power, Heath ( 1991 ) points out that pupils must hold certain premises before they can show critical thought, and get their ain authorization through critical thought. Aside from all the attacks with different definitions in which there is much convergence and treatments of the jobs in order to happen solutions to heighten the scholars Ã¢â¬Ë critical thought, attempts on developing this accomplishment have non ever been successful. Students Ã¢â¬Ë critical thought accomplishments improve as pupils progress but public presentation by and large remains under expected degree ( Tsui, 1998 ) . 2.2.1 Bloom Ã¢â¬Ës Taxonomy In 1956, Bloom introduced the taxonomy of educational aims in a signifier of categorization of the purposes of the educational procedure to help teachers in the rating of their class stuff and proving results. A peculiarly utile characteristic of Bloom Ã¢â¬Ës taxonomy is the hierarchical agreement of cognitive abilities that provides a straightforward method for instructors to plan instructional aims and activities that relate straight to want learning results. The cognitive sphere of Bloom Ã¢â¬Ës taxonomy included six major subdivisions from lower order believing accomplishments ( LOTS ) to higher order believing accomplishments ( LOTS ) : cognition, comprehension, application, analysis, synthesis, and rating. Bloom defined Ã¢â¬Ëknowledge Ã¢â¬Ë as Ã¢â¬Å" those behaviours and trial state of affairss which emphasize the memory, either by acknowledgment or callback, of thoughts, stuff, or phenomena Ã¢â¬ ( p.62 ) . In add-on, Ã¢â¬Ëcomprehension Ã¢â¬Ë is defined as Ã¢â¬Å" pupils Ã¢â¬Ë abilities to understand what is being communicated and analyse its content Ã¢â¬ ( p.89 ) . In this respect, Bloom considered comprehension as three signifiers of behaviour: interlingual rendition, reading, and extrapolation. The following class is Ã¢â¬Ëapplying Ã¢â¬Ë that shows how a scholar can use what has been learned to new state of affairss. In Bloom Ã¢â¬Ës point of position, Ã¢â¬Å" analysis emphasizes the dislocation of the stuff into its component parts and sensing of the relationships of the parts and of the manner they are organized Ã¢â¬ ( p.144 ) . The most originative behaviour in this taxonomy, Ã¢â¬Ësynthesis Ã¢â¬Ë , was defined as the Ã¢â¬Å" seting together of elements and parts so as to organize a whole Ã¢â¬ ( p.162 ) . Furthermore, the last measure, Ã¢â¬Ëevaluation Ã¢â¬Ë , was regarded as Ã¢â¬Å" devising of judgements about the value of thoughts, plants, and solutions Ã¢â¬ ( p.185 ) . Originally, Bloom Ã¢â¬Ës taxonomy was based on the behaviourist theory and groups educational activities into three chief classs that affect the procedure of larning in different ways: cognitive, affectional, and psychomotor ( Krathwohl, Bloom A ; Bertram, 1973 ) . The six classs under the Ã¢â¬Ëcognitive facet Ã¢â¬Ë were explained from the least complex to the most complex accomplishment in the preceding paragraph. The Ã¢â¬Ëaffective sphere Ã¢â¬Ë is the manner persons deal with the growing in feelings or emotional accomplishments, including five classs of receiving, reacting, valuing, forming, and internalising. And the last 1 is Ã¢â¬Ëpsychomotor sphere Ã¢â¬Ë which focuses on the country of physical motion, coordination, and usage of motor accomplishments incorporating six degrees of perceptual experience, set, guided response, mechanism, complex overt response and version. Although Bloom Ã¢â¬Ës original taxonomy was a radical theoretical account which presented systematic classifications of cognitive accomplishments, Anderson and Krathworthl ( 2001 ) revised it to concentrate on the active, ongoing procedure of larning in order to assist instructors understand and implement a standards-based course of study. In add-on, other research workers developed it harmonizing to the aims that teachers, skilled specializers, and supervisors need to measure the scholars Ã¢â¬Ë acquisition and public presentation in a given class. Anderson and Krathworthl ( 2001 ) reevaluated the original version and the revised taxonomy included memory, apprehension, using, analysing, rating and making. In other words, the revised taxonomy duplicates the six classs of the original 1 with the cognition class labeled as Ã¢â¬Ëremember Ã¢â¬Ë , the comprehension class termed Ã¢â¬Ëunderstand Ã¢â¬Ë and synthesis was changed into Ã¢â¬Ëcreate Ã¢â¬Ë . They are arranged in a h ierarchal construction, but non every bit stiffly as in the original taxonomy. ( Krathwohl, 2002, p. 218 ) Since Bloom provided the tool that helps research workers to find the scholars Ã¢â¬Ë learned preferable behaviour forms after taking a class, Bloom Ã¢â¬Ës taxonomy has long been applied by pedagogues, instructional interior decorators in order to orient and accomplish the aims, lesson, and appraisals ( Joyce A ; Weil, 1996 ) . You read "California Critical Thinking Skills Test Education Essay" in category "Essay examples" Furthermore, the cognitive taxonomy has received much attending because of its pertinence in secondary and postsecondary instruction ( Chyung, 2003 ) . Therefore, the research workers have besides used Bloom Ã¢â¬Ës taxonomy as an assessment tool to measure pupil public presentation in traditional classs versus on-line simulations ( Boyd A ; Murphrey, 2002 ) . Based on the consequences of Garrison, Anderson, and Archer Ã¢â¬Ës research in 2001 which utilizing Bloom Ã¢â¬Ës six degrees of cognitive processing, they noted that over 80 % of scholars Ã¢â¬Ë treatment stations ( online ) reflected lower degrees of thought. Similarly, Gilbert and Dabbagh ( 2005 ) reported that about 75-80 % of their pupils Ã¢â¬Ë on-line posters were at the lower degrees of Bloom Ã¢â¬Ës taxonomy. .In 2006, John DiMarco examined the Bloom Ã¢â¬Ës taxonomy and Peschl Ã¢â¬Ës manners of cognizing for categorization of larning objects on the PBS.org/teacher beginning Website. By qualitative content analysis, he found that larning objects at PBS.org/teacher beginning were instructionally designed on accomplishing aims that were lower in the cognitive sphere based on the research of Bloom and his column group and the subsequent instantiations of the 1956 work in 2002 by Krathwol and in 2005 by Krumme. Hamad Odhabi, in 2007, conducted a qualitative research in order to see the impact of laptops on pupils Ã¢â¬Ë larning utilizing Bloom Ã¢â¬Ës larning taxonomy. It concluded that pupils agree that larning with laptops would better pupils Ã¢â¬Ë acquisition in the cognitive ( cognition ) and psychomotor ( pattern ) domains. Hasan SA?eker and Sevki KoA?muA?r in 2008 were done a survey which aimed at look intoing the relationship between critical thought accomplishments and in-class oppugning behaviours of English Language Teaching ( ELT ) pupils at the Faculty of Education at Mugla University. The findings of this survey revealed that the pupils in the higher mark group experienced believing procedures more intensively than the lower mark group. Recently, Churches ( 2008 ) updated the revised Bloom Ã¢â¬Ës taxonomy to modify behaviours and actions that implemented with digital acquisition. In Bloom Ã¢â¬Ës digital taxonomy, coaction has been added as an factor that supports the acquisition procedure. In other words, he presented the Bloom Ã¢â¬Ës Digital Taxonomy with a set of rubrics that each of these leads the use of a digital acquisition engineering in order to accomplish Bloom Ã¢â¬Ës acquisition degrees. In 2010, Alyson Simpson conducted a classroom-based research to look into the premiss that an information and communicating engineering ( ICT ) undertaking where kids read books and so utilize email communicating to interchange responses with other scholars will back up critical thought. Improvements in critical thought were measured utilizing lingual analysis. Although there were additions in critical thought, there was small student battle with engineering and the treatment problematised the integrating of engineering in the schoolroom through a repositioning of coaction in a blended acquisition context known as book blames. Ertmer, Sadaf and J. Ertmer in 2011 examined the relationships among inquiry types and degrees and pupils Ã¢â¬Ë subsequent responses/interactions in on-line treatment forums and the consequences of their research supported the hypothesis that inquiries at the higher degrees of Bloom Ã¢â¬Ës taxonomy facilitate higher degrees of pupils Ã¢â¬Ë responses. A survey was done by El-Ghalayini in 2011, which presented a systematic design procedure for developing blended classs for undergraduate higher instruction. The instructional design procedure for e-learning was on the footing of instructional design theories and utilised three taxonomies: Bloom Taxonomy, Redeker Taxonomy and Guerra graduated table. It was found out that all the different design methodological analysiss try to supply a set of activities or guidelines that address all or portion of these determination doing procedure to guarantee the quality and/or the cost of the concluding merchandise. The meta-cognitive standards is less likely to be achieved by undergraduate scholars. Birjandi and Alizadeh were developed a study in 2013 to look into the extent to which the books employed for Teaching English as Foreign Language include critical thought accomplishments. a 70 two-item critical thought checklist based on Likert-scale and dwelling of 12 accomplishments ; viz. , comprehension, application, analysis, synthesis, rating, tax write-off, initiation, balanced-thinking, multiple perspective-taking, originative thought, constructing community of minds, and cognition. However, the mark accomplishments on the checklist were chiefly based on Bloom Ã¢â¬Ës taxonomy. The paper discussed the deficiency of critical thought in the schoolroom and stuffs and proposes some ways to include more critical thought accomplishments in the stuffs. 2.1.2. California Critical Thinking Skills Test An appropriate appraisal plan will lend to learner growing and development, ensuing in increased competency, self knowledge, self esteem, and assurance ( Allen, et al. , 1985 ) . Before 1880s, there were many arguments on definitions of critical thought as there were writers on the topic. In 1987, in order to define a clear consensus definition of critical thought, the Committee on Pre-College Philosophy of the American Philosophical Society ( APS ) began look intoing into the establishing of critical thought definition and its appraisal. A facilitator conducted an anon. , biennial intercommunication between 46 critical thought experts in the Fieldss of doctrine, psychological science, and instruction. They were from different parts of the universe, across the United States and Canada. They could accomplish the first consensus definition, and this research has been called the Delphi Report ( Facione, 1990 ) . On the other manus, critical thought accomplishments are important for each human and society every bit good, hence, set uping a proper trial to measure critical thought is a important undertaking ( Ennis, 1993 ) . There are many trials available and there are besides many ways to measure critical thought accomplishments, such as: standardised trials, locally developed trials, portfolios, essays, and competence/ public presentation appraisal. In Ennis Ã¢â¬Ë position ( 1993 ) , about all of standardised critical thought accomplishments trials are with a format of multiple picks which are preferred for establishments in footings of cost, efficiency ; and clip. However, he noted that more researches and development in this country are needed. Before the Delphi Project, based on different theoretical concepts, there were merely three trials available for measuring critical thought accomplishments at the college degree ( Facione and Facione, 1994 ) . California Critical Thinking Skills Test ( CCTST ) developed in 1990 by Peter Facione, used the Delphi definition of critical thought as its conceptual model ( Facione A ; Facione, 1994 ) . An objectively scored standardised instrument that assesses the cognitive accomplishments dimension of critical thought. It is a 45- minute multiple pick trial with 34 points. There are an overall critical thought mark and five sub-scores can derive from CCTST, and can be used for post-test merely or pretest-posttest designs ( California Academic Press, 1996b, 1996c ) . Technical surveies have been completed on concept, content, and coincident cogency, point favoritism and trouble, and dependability ( P. A. Facione, 1991 ) . Facione and Facione, ( 1994 ) implied that increasing the length of the CCTST to increase dependability would impact its ability to be given during a typical category period. It would besides likely cause increased mental weariness due to the trouble of the inquiries and consequence in reduced dependability estimations. Hence, no dependabilities are given for the subscale tonss ( Jacobs, 1995 ) . In add-on, it is worthy to observe ( CCTST ) does non do differentiation below the belt between gender, ethnicity, degree of critical thought assurance, and major ( P. A. Facione, 1991 ) . The alpha dependability is estimated at.71 ( Jacobs, 1995 ) . From one manus, the trial manual declares that the two signifiers ( A and B ) are statistically tantamount and the same for practical intents ( California Academic Press, 1996c ) . On the other manus, Jacobs ( 1995 ) indicated that a survey of 1,383 pupils at a big university found no important difference on the unchanged points and a important difference in agencies for Form A and B, with signifier B being more hard than organize A and it shows how critical thought is extremely contextually sensitive. Construct cogency is supported in proof surveies by little but important additions in pretest-posttest tonss in experimental groups after a critical thought class was taken. Controls did non do the same additions ( Facione A ; Facione, 1994 ) . These additions were merely between 0.04 and 1.45 in average tonss, but they were statistically important for the big samples used ( McMorris, 1995 ) . This may explicate why important alterations are non seen in many of the smaller graduated table surveies. However, more psychometric research is required to allow widespread usage of CCTST in order to look into the countries where the trial is strong or weak. Raykovich ( 2000 ) conducted a survey to find whether the California Critical Thinking skills trial discriminate between first semester pupils Ã¢â¬Ë and forth semester pupils Ã¢â¬Ë critical thought. Consequences of this survey indicated that important additions in the CCTST entire mark were observed in the instance group. Stein et Al. ( 2003 ) were done a study in Tennessee Technological University to research methods of measuring critical thought accomplishments as portion of a public presentation support enterprise since 2000. American College Test ( ACT ) and the California Critical Thinking Skills Test ( CCTST ) were utilized as the appraisal tools. The initial trial demonstrated good face cogency and high standard cogency when correlated with tonss on both ( ACT ) and ( CCTST ) . In Iran, Khalili and Hossein Zadeh ( 2003 ) investigated the dependability, cogency and norm of CCTST Form B. on 405 BSN nursing pupils of Nursing Faculties located in Tehran. The findings showed that the inquiries of trial is sufficiently dependable as a research tool, and all subscales measure a individual concept, Critical Thinking, and are able to separate the individuals with different degrees of critical thought. Husband ( 2006 ) employed the CCTST appraisal tool on a computing machine information engineering unit of direction to look into the effectivity of critical thought learning methodological analysiss. The survey concluded that the average tonss from the post-test were non significantly higher than the pre-test mean tonss. In 2008, Yang and Chou investigated the relationship between critical thought accomplishments and temperaments and the effectivity of different degrees of on-line instructional scheme. Findingss presented that the sweetening in critical thought accomplishments reinforced critical thought temperaments, but the betterment in critical thought temperaments did non increase the degree of critical thought accomplishments. Cotter and Tally in 2009 examined the effectivity of the critical thought exercisings on critical thought accomplishments. It was revealed that the critical thought assignments did non hold a positive consequence on either formal operational idea or critical thought accomplishments. Dehghani et Al. ( 2011 ) conducted a descriptive-correlation survey aimed to see the relationship between pupils Ã¢â¬Ë self-efficacy and critical thought in Ferdowsi University of Mashhad, Iran. The consequences revealed a significantly positive relationship between pupils Ã¢â¬Ë self-efficacy and critical thought. 2.2 Ex Reading and Critical Thinking Many research workers have emphasized the importance of including extended reading in foreign linguistic communication course of study ( Day A ; Bamford, 1998 ; Grabe, 1995 ; Krashen, 1982 ) Extensive reading is an attack to 2nd linguistic communication ( L2 ) reading direction and aims to do covering big sums of reading stuff gratifying for scholars, as Day A ; Bamford, ( 1998 ) believe ; reading addition without reading hurting. It besides needs to observe that upon scrutiny of Bamford Ã¢â¬Ës ( 2000 ) annotated bibliography on ER, one rapidly discovers that a good figure of ER plans use simplified books or ranked readers as the basic reading stuff ( Day and Bamford, 1988 ) . A figure of experimental and quasi-experimental surveies have been conducted to analyze the effectivity of ER and to supply support for the usage of ER in 2nd linguistic communication ( ESL ) and EFL scenes. ER surveies have shown that their participants improved in countries such as reading comprehension, spread outing vocabulary cognition, and heightening composing accomplishments and Many English as a foreign linguistic communication ( EFL ) research workers ( e.g. , Camiciottoli, 2001 ; Day A ; Bamford, 1998 ; Krashen, 1982 ; Mason A ; Krashen, 1997 ; Robb A ; Susser, 1989 ; Yamashita, 2004 ) have suggested ER as a good scheme to better reading proficiency, and a big figure of surveies ( e.g. , Elley A ; Mangubhai, 1981 ; Greenberg, Rodrigo, Berry, Brinck A ; Joseph, 2006 ; Hafiz A ; Tudor, 1990 ; Lai, 1993 ) have confirmed its effectivity in edifice lingual competency ( e.g. , reading ability, vocabulary, composing and spelling accomplishments ) . Numerous schoolroom activ ities utilizing graded readers have besides been described ( e.g. , Bamford A ; Day, 2004 ; Nakanishi, 2005 ) . On the other manus, In order to larn English successfully, EFL learners non merely necessitate to get the four macro accomplishments composing, but besides need to develop critical analytical accomplishments. Traditionally, among the four macro accomplishments, the educational accent has preponderantly been on the acquisition of productive accomplishments. The importance of receptive accomplishments, and the development of critical accomplishments, has most frequently been neglected in the context of EFL scenes ; consequently, there has been less infinite to develop critical thought among scholars. Reading is a medium that a instructor usage to further scholars Ã¢â¬Ë critical thought and tonss of the text editions include assignments and activities purported to tap into critical thought accomplishments. Distinguishing among four types of reading, it can be said that extended reading ( ER ) is one of the most good, since it promotes the development of critical thought. This means critical thought is an of import accomplishment ESL pupils need to develop from extended reading stuffs which are books of their pleasance to go analytical and witting people about the environment that surrounds them. Learners need to believe about the stuffs they read and use their ain conceptualisations and scholars can larn to hold or differ with the texts they have read in order to show their points of position. Previous surveies on the effects of extended reading ( text-based and on-line stuffs ) had adopted assorted research designs, but few provide deduction for the consequence of extended reading on critical thought accomplishments. The focal point of the present survey is on the relationship between ER and critical thought. 2.3 Concordancer With the coming of engineering and its attendant impact on stylistics literary surveies, the quality of instruction and acquisition in linguistic communication schoolrooms has been enhanced. An effort has been made to incorporate computing machines, the Internet and computer-aided plan as tools in linguistic communication schoolrooms to ease the instruction and acquisition. The most of import end of modern teaching method is to assist scholars travel beyond the lower order cognitive accomplishments to the higher order believing 1s, including application, analysis, synthesis, and rating ( Bloom et al.,1956 ) . These accomplishments are necessary for scholars to analyse, measure, synthesise, utilize critical penetration, be originative, work collaboratively, work out jobs, and direct their ain acquisition ( Romiszowski, 1996 ) . In order to obtain command of these accomplishments, instructors need to supply larning environments that are learner-centered, reliable, problem-based and collaborative. With increasing figure of research, the good effects of ( on-line ) computer-assisted plans on linguistic communication acquisition have emerged. They have intended to back up the pedagogical concerns in the schoolrooms. Among the modern instruction AIDSs, concordancers characterized as computer-based plans became available in the 1980s and a figure of surveies have been conducted to supply empirical grounds to the effectivity of principal concordancing in linguistic communication schoolrooms ( Hadley, 2000 ; Ilse, 1991 ; Lee A ; Liou, 2003 ; Someya, 2000 ; St. John, 2001 ) and of import developments began in the 1990s, get downing with publications recommending the usage of principals and harmonies in linguistic communication instruction ( Tribble A ; Jones, 1990 ) . Concordancers provide a list of frequence happenings in a pre-selected principal and affect exposing the defined points within the current context. They search for happenings of a given word, portion of a word, combination of words, a punctuation grade, affix, or a phrase or construction within a given text principal to demo its immediate context ( Granger, 1998 ; Biber, Conrad A ; Reppen, 1998 ) . Through this, scholars can develop their ability to detect, to theorize and to place forms in the mark linguistic communication ( Johns, 1988 ) . In add-on, the end product of concordancer hunts and nowadayss scholars with reliable, existent picks that linguistic communication users make and allows them to research and detect ordinary forms of word or sentence use in assorted manners. Therefore, the capableness of contextual illation can be well enhanced by supplying multiple contexts for a given word with the assistance of a computing machine system ( Cobb, 1997, 1999 ) . As a consequence, harmonies have been used for a scope of intents. By utilizing concordancers, the scholars can research characteristics of mark linguistic communication independently, including regulations of grammar, the use in different context, and lexical properties. This, accordingly, leads to data-driven acquisition ( DDL ) ( e.g. Johns, 1994 ) . By this pedagogical attack, scholars are research workers, who discover and analyze regulations and forms embedded in the informations instead than implementing rule application exercisings or following a spoon feeding attack. Prior surveies have shown that a DDL attack creates a learner-centered acquisition ambiance in which scholars are involved in explorative concordance-based undertakings to spread out their linguistic communication experience ( Biber, Conrad, A ; Reppen, 1998 ) . Furthermore, they can detect the implicit in linguistic communication forms on their ain, and therefore they become active participants in the acquisition procedure ( Brown, 2001 ; Johns, 1997 ; Sun, 1999 ) . Therefore, the data-driven attack utilizing harmony package stimulates the scholars Ã¢â¬Ë analytical capacities, improves their expressed cognition of mark linguistic communication, advances critical linguistic communication consciousness, and supports the development of scholar liberty. Furthermore, scholars themselves besides show positive reactions to DDL and utilizing concordancer due to their turning consciousness of descriptive instead than normative linguistic communication ( Chambers, 2005 ; Yeh, Liou, A ; Li, 2007 ) . Consequently, equipped with Language Awareness ( Hawkins, 1987, Wolff, 1992 ) , Consciousness-raising ( Sharwood-Smith, 1981, Rutherford, 1987 ) and Critical Thinking ( Astleitner, 2002 ; Facione, 2007 ; Paul, 1995 ) through concordancer, scholars change inactive information from the huge sum of different available lingual characteristics into dynamic end product to explicate the linguistic communication regulations in their ain public presentation. Several surveies have been carried out to measure the potency of utilizing concordancer and research attacks to incorporate concordancing tools into linguistic communication acquisition and instruction ( Chen, 2000 ; Cobb, 1997 ; Conrad, 1999 ; Flowerdew, 1993 ; Turnbull A ; Burston, 1998 ) . Besides, several surveies were conducted to look into the efficaciousness of harmonies in EFL schoolroom ( Sripicharn, 2003 ; Boulton, 2008 ) . In Todd Ã¢â¬Ës ( 2001 ) survey, a category of college pupils consulted a web-based principal to assist with their self-corrections of lexical mistakes. The consequences showed that these pupils were able to bring on valid forms from their self-selected harmonies and to do valid self-corrections of their mistakes. Gabel, in 2001, conducted a research in which focused on another possibility of using concordancers, viz. a comparative survey taking at penetrations into the scholars Ã¢â¬Ë lingua franca ( IL ) and examined the over-indulgence and under-representation of lingual characteristics in the linguistic communication usage of advanced German EFL pupils. It was concluded that scholars benefited because they tried to bridge the spread between their ain public presentation and that of native talkers. In add-on, in Malaysia, the survey carried out by Daud and Husin ( 2004 ) indicated the potency of a literary text, Othello, and a concordancer in developing and heightening critical thought ability and the findings revealed that there is a important difference between the experimental and control groups in their critical thought ability. In 2003, Sun conducted a survey that endeavored to implement reading plan, Extensive Reading Online ( ERO ) , having specific demands for EFL scholars in Taiwan. He utilised concordancer, stage-by-stage reading scheme preparation, and text note maps. As the consequences, pupils held a positive attitude toward the reading system. Again, in the same twelvemonth, Sun worked on a instance survey by three Chinese college pupils which conducted the acquisition procedure in the concordancer puting. During set abouting a proofreading activity, a web-based concordancer assisted the participants. Four factors evolved the consequences and scholars Ã¢â¬Ë larning procedure: ( 1 ) prior cognition, ( 2 ) cognitive accomplishments, ( 3 ) instructor intercession and ( 4 ) concordancer accomplishments. Concordancer is besides good in the acquisition of vocabulary ( Cobb, 1997 ; Zahar et al.,2001 ) . In add-on, the 2nd linguistic communication vocabulary cognition includes balls, such as collocations or parlances ( Nation, 2001 ) . Much of the research on concordancers has focused on grammar and collocation acquisition. It is believed that collocational cognition is hard to get for linguistic communication scholars ( church et.al. , 1991 ) and it Ã¢â¬Ës particularly effectual for sentence coevals ( Smadja A ; Mckeown,1990 ) . Sun and Wang ( 2003 ) , with a category of 11th grade pupils in Taiwan, examined the consequence of concordancing on larning grammatical collocations and they found the inductive group significantly outperformed deductive group in the proofreading undertaking. Similarly, Lee and Liou ( 2003 ) probed into the consequence of pupils as principal research workers by measuring and comparing the lexical public presentation of pupils and the consequences showed tha t concordancer searching was good to pupils who employed inductive acquisition schemes. In the field of collocation, in 2005, Chan and Liou carried out a survey to research the impact of utilizing five web-based pattern units on English verb-noun collocations with the assistance of a web-based Chinese-English bilingual concordancer. Consequences indicated that scholars improved significantly after the on-line pattern at one time but regressed subsequently. Furthermore the on-line instructional units with using the concordancer were acceptable to most scholars. In the context of ESL scholars, Horst et Al. ( 2005 ) blended the usage of a harmony, a dictionary, a cloze-builder, a hypertext, and a database with synergistic self-quizzing characteristics in several academic English classs and evaluated the effects of the tools and activities on 150 pupils. The findings evidenced the acquisition additions provided support for vocabulary acquisition. Webb and Kagimoto ( 2011 ) , examined the effects of three factors ( the figure of collocates per node word, the place of the node word, synonymity ) on larning collocations. The consequences revealed that more collocations were learned as the figure of collocates per node word increased, the place of the node word did non impact acquisition, and synonymity had a negative consequence on acquisition. Additionally, few surveies have addressed issues refering the sweetening of scholars Ã¢â¬Ë composing accomplishments. In this respect, Yeh, Liou and Li ( 2007 ) carried out another research under the rubric of on-line equivalent word stuffs and concordancing for EFL college composing. They addressed overused adjectives by non-native speech production scholars by assistance of a bilingual collocation concordancer, TANGO. The findings showed that, non merely they improved in the immediate posttest, but besides pupils Ã¢â¬Ë word cognition for equivalent word usage was retained as measured two months subsequently in the delayed posttest. Furthermore, in the post-instruction authorship undertaking, pupils avoided utilizing general adjectives, tried to use more specific points to better their overall authorship quality. Sun ( 2007 ) besides examined the effects that the scholar variables had on participants Ã¢â¬Ë perceptual experience of the on-line Scholarly Writing Template ( SWT ) . The consequences of the survey showed that the templet had different effects on pupils Ã¢â¬Ë scholarly composing procedures and usage of scheme. Indeed, pupils held a positive attitude towards the scholarly authorship templet. Besides, concordancers allow linguistic communication scholars to prosecute in larning more actively and to seek for lingual forms by straight researching computerized principals and concordancers, in other words, concordancers can be used as the key tools in the data-driven acquisition ( DDL ) attack. By computer-based DDL attack, scholars can seek the principal with the aid of a concordancer. In Iran, Tabriz, Jafarpour and Koosha ( 2007 ) studied concordancing stuffs presented through data-driven learning attack and the findings showed that the data-driven attack is extremely effectual in the instruction and larning collocation of prepositions. Another survey in Taiwan explored the DDL attack utilizing harmony roll uping package in instruction of J. K. Rowling Ã¢â¬Ës utilizations of the preposition in Harry Potter and the Philosopher Ã¢â¬Ës Rock by Lee ( 2009 ) which expressed data-driven acquisition is helpful for pupils both in fixing for their tests and besides for their general English acquisition. In 2011, Chen undertook a research to find if the new tool, WebCollocate, which is based on a big portion of speech-tagged Gutenberg principal could advance the DDL attack and ease the searching of collocations. The consequences indicated that the pupils who used the WebCollocate tool found more proper English collocates. And Thanh ( 2010 ) , in Netherland, designed a study to analyze the consequence of concordancing and staging in developing scholars Ã¢â¬Ë cognition of lexical collocations. This survey revealed that scaffolding did non do a important difference in footings of the pupils Ã¢â¬Ë ability to place ( myocardial infarction ) collocations but concordancing produced important effects on the topics Ã¢â¬Ë overall public presentation in lexical collocation. Further, in the field of interlingual rendition, bilingual concordancers are one the most widely used computer-assisted interlingual rendition tools amongst transcribers. Bourdaillet et Al. ( 2011 ) studied the betterment of the commercial bilingual concordancer, TransSearch, in order to implant a word alliance characteristic. The consequences gained utilizing a big interlingual rendition memory comprising of 8.3 million sentence braces were verified by human rating. Most of the above-named surveies have been done with different ESL or EFL scholars at different degrees of proficiency. Holec ( 1990 ) and Hadley ( 2002 ) claimed that concordancing might be relevant to progress scholars merely as those of lower degrees do non hold plenty lingual resources and analytical accomplishments to get by with reliable informations. In this respect, this survey aims to present scholars who are at the same degree of proficiency and in a homogeneous category as intermediate degree. Otherwise, concerns sing troubles in comprehending and pull outing information from linguistic communication illustrations will be prevailing in linguistic communication schoolrooms ( Sun, 2003 ) . On the other manus, the surveies show that concordancing-based interventions could be good for English acquisition. Although, other surveies have examined the effects of concordancing on assorted facets of linguistic communication acquisition. Yet few old surveies have examined the impact of concordancing on the acquisition of reading accomplishment. Therefore, it may be good to plan concordance-based stuffs with the purpose of developing scholars Ã¢â¬Ë reading accomplishments through concordance-based extended reading. Using different reliable narratives alternatively of working on one literary text will promote scholars to be involved with different characters and genres and will perchance do a more optimal usage of concordancer hunts. In other words, larning can be driven by reliable linguistic communication informations ( Johns 1991a, Johns 1991b ) . Since a few surveies have been carried out to turn to the proficiency of reading accomplishment by assistance of computer-based plan, concordancer, the present survey seeks to research the impact of computer-assisted extended readingA direction on EFL scholars Ã¢â¬Ë reading comprehension. How to cite California Critical Thinking Skills Test Education Essay, Essay examples
Sunday, April 26, 2020
Montesquieu`s Definition Of Law The following was completed for a Political Thought and Theory Class in my Senior Year of Highschool..my grade was an 85 Montesquieu: Definition of Law Into the first three chapters of Book 1, The Spirit of Laws, Montesquieu condensed a lifetime of thinking, not so much on law as what law is, (after all, the work by Montesquieu is entitled The Spirit of Laws, not The Laws of the Spirit). The definition of law provided to us by Montesquieu can be most clearly identified as a series of relationships which are derived from the nature of things; relationships varying not only among human beings, but animals and thought. Background: Montesquieu, Charles-Louis de Secondatbaron de la Br?de et de Born January 18, 1689, Montesquieu (Caption 1-1) belonged to an old family of modest wealth that had been ennobled in the 16th century for services to the crown. Charles-Louis studied at the faculty of law at the University of Bordeaux, was graduated, and ventured out for experience in law. He married Jeanne de Lartique and through marriage he became socially and financially secure. He wrote many works pertaining to the lawfield (Encarta). Montesquieu's Definitions of Law "Laws, in their most general signification, are the necessary relations arising from the nature of things." (Spirit) Montesquieu in the first book would seem to be collating all that has been said on the law into some complex equation, eliminating the common and arriving at some simple solution. Thus, laws in the most general sense are the relationships between things (all things) as the nature of things shows: the nature of things seen, heard, and read. God isn't seen nor heard, or read; still, he must have his place, but not first in the order of the nature of things (Catholic). "There is, then, a prime reason; and laws are the relations subsisting between it and different beings, and the relations of these to one another." (Spirit) But we have overlooked a key word kept by Montesquieu in his most concentrated definition: laws are not only relationships, they are necessary relationships. Here grows a somewhat ambiguous question. Why are they necessary? They are not necessary due to a decree of some sort, but become natural; thus the term "Prime Reason. (Loy 89)" "God is related to the universe, as Creator and Preserver; the laws by which He created all things are those by which He preserves them. He acts according to these rules, because He knows them; He knows them, because He made them; and He made them, because they are in relation to His wisdom and power." (Spirit) It is true that Montesquieu seems to waver between "natural law" and "laws of nature" as expressions. It is also true that he defines laws of nature as those that derive solely from our beings (Loy 90). "By the allurement of pleasure they preserve the individual, and by the same allurement they preserve their species. They have natural laws, because they are united by sensation; positive laws they have none, because they are not connected by knowledge." (Spirit) Animals however, are without knowledge but have some natural laws. Although Montesquieu does spare us the seventeenth-century discussion of pre-social man, he has not escaped certain confusions in regards to human reason and Prime Reason (Chan). "Before there were intelligent beings, laws were possible; they had therefore possible relations, and consequently possible laws. Before laws were made, there were relations of possible justice. To say that there is nothing just or unjust but what is commanded or forbidden by positive laws, is the same as saying that before the describing of a circle all the radii were not equal." (Spirit) It is also in his discussion of natural law that Montesquieu comes to the conclusion that after God comes first a state of peace. For Montesquieu, peace is the first law of nature. Following natural laws are nourishment, sex, and society (Chan). "But the intelligent world is far from being so well governed as the physical. For though the former has also its laws, which of their own nature are invariable, it does not conform to them so exactly as the physical world." (Spirit) Once the natural law is done with (and Montesquieu started there for many reasons), one is on relatively clearer, emperic grounds with the positive laws. International law, political law, civil law: nothing in Montesquieu's estimation could be more easily grasped from looking at man's past. When Montesquieu makes his famous statement that law is human reason, one takes note he is writing