Othello – Iago Character Analysis

Iago, in Shakespeare's Othello, is a misleading character since he lies so as to get what he needs. He cooperates with individuals just to control them, however in particular he never uncovers his actual sentiments or intentions. Iago may make statements that propose what his thought process is, yet he before long negates himself with another recommendation making it very hard to get him. Despite the fact that Iago's actual intentions can't be resolved, a few thought processes could be envy, the delight in observing individuals endure, or power.Iago's envious of Othello and Cassio on the grounds that he imagines that them two laid down with his significant other, Emilia. In Iago's first talk toward the finish of act 1, Iago says that Othello may have laid down with his significant other and despite the fact that this is gossip, he says that he will trust it. At that point in his second discourse toward the finish of act 2, scene 1, Iago emphasizes and by and by says that Othello laid down with his better half, the main distinction is that now he thinks Cassio has laid down with his significant other too on the grounds that he accepts that Cassio is a â€Å"proper man† and a playboy.So, this is by all accounts a main impetus for Iago to destroy Othello and Cassio. Iago's desire towards Othello rapidly transforms into an envy toward Cassio too in light of the fact that Othello named Cassio as lieutenant rather than Iago. Iago accepts that he ought to be lieutenant since he has battled close by in fights and on the grounds that he has real war understanding, while Cassio took in the entirety of his strategies from books. Along these lines, he is envious in light of the fact that he didn't land the position, yet he is furious on the grounds that he imagines that Othello made Cassio his lieutenant on the grounds that Cassio helped Othello wed Desdemona.Iago knows nothing about extent, implying that on the off chance that he has been wronged he will carry equi ty to himself by giving the offender a discipline that doesn't coordinate the wrongdoing. For this situation, Iago wasn't designated as lieutenant; along these lines, he needs to torment Othello and Cassio intellectually and afterward murder them. This could be the aftereffect of his scorn and envy. Another thought process that may cause Iago's conduct is that he is a cruel person; he just prefers to appreciate watching others suffer.Iago is a shrewd individual and he appreciates perceiving how imbeciles deceive themselves. One of these nitwits is Iago's â€Å"buddy,† Roderigo. Roderigo is a run of the mill well off, Venetian blue-blood who is frantically enamored with Desdemona and he has given Iago the undertaking of helping him charm her. Iago utilizes this for his potential benefit, despite the fact that Iago utilizes Roderigo to destroy Cassio and Othello, he gets some delight by watching Roderigo dance around and go crazy over Desdemona. Iago additionally thinks that it s clever when Roderigo needs to go kill himself after he discovers that Desdemona wedded Othello.There are on various occasions all through the play where Roderigo ought to have realized that Iago was simply utilizing him for cash and a few snickers and since Roderigo doesn't get on this, Iago can utilize Roderigo for his potential benefit. Force is presumably the most significant rationale. Iago is extremely scheming and sharp and he can utilize this to control individuals. It is unmistakably observed that Iago flourishes for power since he cherishes controlling individuals with the goal that they doe precisely what he says. He does this to Roderigo commonly, similar to when Iago advises Roderigo to give him the entirety of his cash and when he persuades Roderigo to murder Cassio.He even controls Othello to the point that Othello presumes his significant other and chooses to slaughter her. Iago's hunger for power is likewise observed when Cassio is designated to be Othello's lieute nant since this was, as far as anyone knows, the reason for his vengeance. He truly needed to be lieutenant since it is an extremely high position and with it comes a great deal of intensity and Iago demonstrates that he would effectively get that kind of intensity. In this way, one of Iago's thought processes could be that he has an enormous hunger for power.In end, many accept that Iago is only an insane person, which is consistent with some degree; notwithstanding, he is likewise extremely keen and sharp. In the event that he wasn't astute he would not have the option to do his vengeance since he wouldn't have the option to control anybody. The plausible thought processes †power, perversion, desire and outrage are a few explanations behind why Iago is maniacal, yet it is about difficult to make sense of his actual intentions from the content. Despite the fact that this might be valid, Iago suggests these intentions and every one of them are upheld by the content, however eve n this could be one of Iago's ploys on the grounds that no one can really get Iago. Othello †Iago Character Analysis Iago, in Shakespeare's Othello, is a deluding character since he lies so as to get what he needs. He interfaces with individuals just to control them, however in particular he never uncovers his actual sentiments or intentions. Iago may make statements that recommend what his intention is, yet he before long repudiates himself with another proposal making it very hard to get him. In spite of the fact that Iago's actual intentions can't be resolved, a few thought processes could be desire, the delight in observing individuals endure, or power.Iago's desirous of Othello and Cassio in light of the fact that he imagines that them two laid down with his better half, Emilia. In Iago's first monologue toward the finish of act 1, Iago says that Othello may have laid down with his better half and despite the fact that this is gossip, he says that he will trust it. At that point in his second talk toward the finish of act 2, scene 1, Iago emphasizes and by and by says that Othello laid down wi th his better half, the main contrast is that now he thinks Cassio has laid down with his significant other too in light of the fact that he accepts that Cassio is a â€Å"proper man† and a playboy.So, this is by all accounts a main thrust for Iago to destroy Othello and Cassio. Iago's desire towards Othello rapidly transforms into an envy toward Cassio too on the grounds that Othello named Cassio as lieutenant rather than Iago. Iago accepts that he ought to be lieutenant since he has battled close by in fights and on the grounds that he has genuine war understanding, while Cassio took in the entirety of his strategies from books. Along these lines, he is desirous in light of the fact that he didn't land the position, yet he is irate on the grounds that he imagines that Othello made Cassio his lieutenant on the grounds that Cassio helped Othello wed Desdemona.Iago knows nothing about extent, implying that in the event that he has been wronged he will carry equity to himself b y giving the guilty party a discipline that doesn't coordinate the wrongdoing. For this situation, Iago wasn't designated as lieutenant; consequently, he needs to torment Othello and Cassio intellectually and afterward execute them. This could be the aftereffect of his contempt and envy. Another thought process that may cause Iago's conduct is that he is a cruel person; he just prefers to appreciate watching others suffer.Iago is an exceptionally sharp individual and he appreciates perceiving how dolts trick themselves. One of these simpletons is Iago's â€Å"buddy,† Roderigo. Roderigo is a run of the mill well off, Venetian blue-blood who is frantically enamored with Desdemona and he has given Iago the errand of helping him charm her. Iago utilizes this for his potential benefit, despite the fact that Iago utilizes Roderigo to demolish Cassio and Othello, he gets some beguilement by watching Roderigo skip around and go crazy over Desdemona. Iago additionally thinks that its interesting when Roderigo needs to go kill himself after he discovers that Desdemona wedded Othello.There are on numerous occasions all through the play where Roderigo ought to have realized that Iago was simply utilizing him for cash and a few giggles and since Roderigo doesn't get on this, Iago can utilize Roderigo for his potential benefit. Force is likely the most significant intention. Iago is scheming and astute and he can utilize this to control individuals. It is plainly observed that Iago flourishes for power since he cherishes controlling individuals so they doe precisely what he says. He does this to Roderigo ordinarily, similar to when Iago advises Roderigo to give him the entirety of his cash and when he persuades Roderigo to murder Cassio.He even controls Othello to the point that Othello presumes his better half and chooses to execute her. Iago's hunger for power is additionally observed when Cassio is designated to be Othello's lieutenant since this was, as far as an yone knows, the reason for his retribution. He truly needed to be lieutenant since it is an extremely high position and with it comes a ton of intensity and Iago demonstrates that he would effectively get that kind of intensity. Thusly, one of Iago's intentions could be that he has a gigantic hunger for power.In end, many accept that Iago is only a mental case, which is consistent with some degree; in any case, he is likewise extremely savvy and astute. In the event that he wasn't smart he would not have the option to do his retribution since he wouldn't have the option to control anybody. The likely thought processes †power, twistedness, envy and outrage are a few purposes behind why Iago is insane, yet it is almost difficult to make sense of his actual intentions from the content. Despite the fact that this might be valid, Iago suggests these thought processes and every one of them are upheld by the content, yet even this could be one of Iago's ploys in light of the fact that no one can really get Iago.

Future of Our Education Free Essays

Fate of Our Education A normal tablet loaded up with a huge number of digital books gauges a billionth of a billionth of a gram more than if it were vacant of information, as opposed to a solitary book that’s physically read, can't be refreshed, and contains just a particular distributed point. Assembling a solitary tablet requires extraction of 33 pounds of mineral, 79 gallons of water, and 100 kilowatt long stretches of petroleum products bringing about 66 pounds of carbon dioxide while a solitary tree cut just delivers a normal of 17 books. Defenders of tablets state that these are bolstered by instructors and understudies the same, since they re lighter and helpful to use than print course books. We will compose a custom paper test on Eventual fate of Our Education or on the other hand any comparative subject just for you Request Now It can hold the same number of books as the proprietor wishes to have, in addition to schoolwork, tests and different records, and really improve one’s capacity to comprehend and learn. They state that tablets can spare nature by bringing down the measure of printing and increment students’ learning capacities as well as their imagination. On the off chance that there are Pros to tablets, there are additionally Cons. Rivals state that these progressed mechanical necessities are extremely costly and can be an interruption for understudies. It can undoubtedly break and is time, vitality and cash expending to fix. They state that these reason different medical issues and different things that expansion students’ pardons for not getting their work done. Most importantly, it requires for the most part of Wi-Fi association with have the option to refresh its information, since it turns out to be rapidly obsolete as new sorts of innovation are discharged in the market. A few rivals of tablet may even utilize their common sense to counter the fast acceleration of the technologys fame. Be that as it may, let’s face it: who wouldn’t need to utilize one? As a rule, clearly there a bunches of things a tablet brings to the table than a plain old course book. Utilizing it is natural to the point that it makes learning progressively fun and simple. Simultaneously, it empowers understudies to compromise rather than persistently perusing a reading material for implications. Only a single tick and Voila! There’s your schoolwork, your task, and so on. Utilizing a tablet has focal points and disservices. For a case, it is gradually clearing out the course books presence since the world is on its way down the path of modernization. Be that as it may, do we truly need to have one so as to consider? Supplanting the utilization of course readings so as to improve the nature of learning is a desperate need yet let’s not overlook what we did before and where we originated from, for it is the place we will foresee the eventual fate of our instruction. By mynameismacey The most effective method to refer to Future of Our Education, Papers

New Student Photo Entry #7 COLUMBIA UNIVERSITY - SIPA Admissions Blog

New Student Photo Entry #7 COLUMBIA UNIVERSITY - SIPA Admissions Blog The first three photos come from Jonathan Camuzeaux, an incoming MIA student. Faces was shot in Allur, a village in Tamil Nadu where SEVAIs main offices are. These children (Bana Pria, Deepika and Keerthik) lived in the Allur Sevai Center and had their education sponsored by the NGO. White was shot in Tamil Nadu, India, in a small village named Pettavaithalai, close to Trichy. I was completing an internship there for the Indian NGO SEVAI (Society for Education, Village Action and Improvement). This old man was waiting, with numerous other villagers, for a free medical check-up organized by the NGO. We started talking and I asked him if I could take a picture of him. I was fascinated by his intense gaze. Memories of You was taken for a friend I havent seen for a while, in the 18th arrondissement, in Paris. It is also a tribute to an amazing performance of the eponymous song, by Rahsaan Roland Kirk and Jacki Byard. _____________________________________________ These photos come from Meredith Hutchison. Emerging at sunset Kala Refugee Camp, Zambia Francis and Chicken Kala Refugee Camp, Zambia.   Francis tries to catch a chicken for dinner. Ninja vs. girl.   Gaudi Park, Barcelona

Perfect Utopia For Me - Free Essay Example

Sample details Pages: 2 Words: 630 Downloads: 6 Date added: 2019/08/16 Category Society Essay Level High school Tags: Utopia Essay Did you like this example? Earth is the placed that birthed us all, the place that we unintentionally killed. The way we are living now the earth will not last, life as we see it will cease to exist. The world is getting hotter, water is becoming undrinkable, food is depleting, oil/gas is becoming less and less with many things becoming more and more expensive. Don’t waste time! Our writers will create an original "Perfect Utopia For Me" essay for you Create order We humans are cutting down millions of trees that give us life, for scraps of paper that we will eventually throw away and barely recycle. The utopia I strive for, is one where no one is hungry, where there is equality for race, gender, hobbies, meat eaters, vegans. The things i want for us the people and the world, is for people to care for it more, plants trees and many other things to keep the eco system sustainable, but also that money will not be a problem for many people, and also the use of technology will lessen. The most important thing ever, is taking care of the environment. The environment is what we live on, how we eat, farm, or even uses for herbs and medicine. The environment is the main thing to a society. Without good soil or access to water we would not be able to prosper back in the 1800s or 1900s. The main thing I would want is for families or the government to care for the trash in the waters which both endanger wild life and pollute the water. Cleaning the world will make the world last longer; if we keep going down the road right now, we will all go extinct. In my utopia people will not be hungry. The government will first fix the problem in America and have a stable living for everyone, then after will start branching out to other countries to help and vice versa. We will have a branch in the government for the homeless and hungry, to be able to put them on the right track and back on their feet. In this utopia there will be equality, either it be about race, gender, meat eaters/vegans, or even people with certain hobbies. This action will unite the people, which would make the infighting in america gone and the people together even stronger. Peace will spread through the world, not only in america. Technology is a big thing not only in america, but everywhere else in the world. This   utopia will have a decrease of technology, specifically phones that are able to have social media and such. Phones are used to communicate with people, but these days they control peoples lives quite literally. There will be a rule where people could only use social media and such for limited hours in a day, then the next day it will reset, this will keep people from not using there phones all day and go outside and spend time with family. Technology did benefit the country, but now it is controlling the lives of the youth. The utopia I made, was one that was suppose to fix the worlds problems, the way the world with all its people have destroyed the world we live in now. people have created groups to clean and save the earth, but with only a bucket of people are trying to save it, while the ocean of other people dont care and are destroying the earth for profit. The greed of humans have been a problem ever since before jesus. Priest have given blessings in exchange of gold and money in the past, and even now we have monks who fly first class, with other priest taking the donations people offer to the church. Greed is the sin we were born with, and with greed we will make the world go extinct.

Business Law Case - 936 Words

Neurology Associates LLP. vs Elizabeth Blackwell, MD An Assignment Submitted by Name of Establishment Class XXXX, Section XXXX, Fall 2011 Case: Neurology Associates LLP, vs Elizabeth Blackwell, MD Overview of Facts In May 2005, Dr. Elizabeth Blackwell earned her Medical Doctor Degree and she was hired by the Neurology Associates LLP, located in Longville state in June 2005. She has been offered different jobs before, but Dr. Elizabeth concluded by choosing Neurology Associates LLP because of the interval between her home and family. The employment agreement, signed by Dr.Elizabeth, included detailed clauses of compensation terms, vacation, on all duties and fringe benefit package. NA agreed to pay $1,000 for the course†¦show more content†¦Summary of arguments: Defendant The restrictive clause will only be enforced by the State of Longville courts if it is a reasonably necessary to protect the interests of the employer and courts may also reform the parts of the covenant if it is too broad. But in this case it should not be enforced, because customer and employee needs did not match up, and the entire southwestern region of Longville state might be too broad for covering customer needs. An the doctor of neurological sciences serves the interest of the public while practicing her trade. Therefore public needs should be in the first place, and the restrictive covenant must be unenforced. The Defense argument Elizabeth Blackwell showed herself as a dedicated and diligent doctor during five years of work in Neurological Associates, and made a significant contribution to the profit margin of the partnership. The partners were delighted with hiring Blackwell in 2005 and they introduced her to medical physicians at a conference. But the referral base Blackwell went through was not the result of that investment by the partnership but instead it was the evidence of her professionalism in neurological sphere. It is hard to find professionals, such as Elizabeth Blackwell, in the field neurological sciences. It is absolutely unfair to limit Blackwell from practicing, when the need for her skill is soShow MoreRelatedCase Study : Business Law Case1557 Words   |  7 PagesBusiness Law Case 1: Kate is the owner of a successful business, selling women’s shoes. Her business is expanding fast and she wants to upgrade her business structure to a more appropriate one. What would be your recommendation to Kate and why? What are the factors that influence you with this advice? 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Political Theory and the Great Gatsby Free Essays

In his article â€Å"‘A New World, Material Without Being Real’: Fitzgerald’s Critique of Capitalism in The Great Gatsby,† Ross Posnock establishes Fitzgerald’s interest in Marxism by placing him as a Nietzschean Marxist and contemporizing him with Georg Lukacs’s History and Class Consciousness, printed in 1923, and with Marx’s theories by extension, attempting to â€Å"demonstrate how deeply Marx’s critique is assimilated into the novel’s imaginative life,† although he is careful to point out that Fitzgerald â€Å"does not share their abhorrence of capitalism† [201]. Posnock offers a close reading of material objects and Gatsby’s subsequent mystification with them to analyze the conflict between the individual and society, Nietzsche and Marx. I would suggest a revision to Posnock’s analysis of The Great Gatsby, reidentifying the material world Posnock places as â€Å"Gatsby’s† as that of the Buchanans, with Gatsby an implicit imposter. We will write a custom essay sample on Political Theory and the Great Gatsby or any similar topic only for you Order Now As Habermas summarizes, Nietzsche’s theory of knowledge is replaced by a perspectival theory of the affects whose highest principle is â€Å"that every belief, every taking-for-true, is necessarily false because there is no true world† [Habermas 122]. In analyzing the material acquisitions of Gatsby, Posnock seems to demonstrate how Gatsby attempts to create himself, to make his world real, through the material values of the Buchanans. Yet his past and his characteristics, his â€Å"old sport† catchphrase, are all a smokescreen diverting us from knowing the true character of Gatsby. Nietzsche would seem to offer the explanation that there is no real Gatsby. Coppola similarly provides a material reading of Gatsby in the opening sequence of his screenplay, as he moves the audience from Gatsby’s cars to his concert Steinway, crystal decanters, a toilet set of pure dull gold, rows and rows of fine suits (plus one military uniform), and an emerald ring [Coppola 1-3]. Posnock and Coppola seem to see a system of material enclosure created by the Tom Buchanans of the world, the American aristocracy, complete with moral values. The system has created the parameters by which Gatsby may define himself, by his possessions. Reexaminations of Marxism, such as the thought of Jurgen Habermas, investigates the social and cultural implications about which Marx wrote, allowing for deeper analysis than Posnock’s superficial offering. If my understanding is correct, in Legitimation Crisis, Habermas looks at socio-cultural crisis tendencies and how they reflect political and economic systems crises, saying that input crises of the socio-cultural system are output crises of economic and political systems, or that the crises of the political and economic systems manifest themselves through the socio-cultural system. Thus, the crisis of an impostor illegally climbing the class hierarchy, acquiring power and influence, manifests itself socially, in the conflict between Tom and Gatsby for Daisy’s love. But this social crisis has political and economic consequences as well, reflected through our narrator. According to Habermas, â€Å"In advanced capitalism, [changes in the socio-cultural system] are becoming apparent at the level of cultural tradition (moral systems, world views) as well as at the level of structural change †¦ and core components of the bourgeois ideology become questionable (endangering civil and familial-professional privatism)† [48-49]. The socio-cultural system lagged behind while the economic system moved from traditional to liberal capitalism (laissez-faire capitalism). As the economic system moved into advanced capitalism with the power of the Progressives (beginning with Theodore Roosevelt), the socio-cultural system caught up as well, forcing changes in input from the political system. Consequently, the political system has interfered more with civic privatism, including the New Deal and Lyndon Johnson’s â€Å"Great Society† programs, in a search to build new, satisfactory normative structures while older but imperative normative structures, like education, have lagged behind, jeopardizing the economic system. The Great Gatsby is set at the socio-cultural junction that Habermas describes. Essentially, our nation was coming of age, and the booming period of the 1920s could be interpreted as a dysfunctional attempt to enjoy the newly-available economic riches. In terms of Gatsby, the conflict between Gatsby and Buchanan really focuses on Nick Carraway, our narrator. In the same way that Gatsby has already chosen to define himself via the social norms established, Nick must now also decide how to define himself as he claims his voice as narrator. According to Judith Butler, who is interpreting Lacan, â€Å"Entrance into language comes at a price: the norms that govern the inception of the speaking subject differentiate the subject from the unspeakable, that is, produce an unspeakability as the condition of subject formation† [Butler 135]. We encounter Nick after his coming of age, marked by his 30th birthday on the evening of Tom and Gatsby’s confrontation, a day when â€Å"the transition from libertine to prig was so complete† [Fitzgerald 137], after he is allowed a voice. In fact, Carraway is only offered the opportunity to speak by his laissez-faire reaction to the moral dilemma. According to Butler: Although psychoanalysis refers to this inception of the subject as taking place in infancy, this primary relation to speech, the subject’s entry into language by way of the originary ‘bar’ is reinvoked in political life when the question of being able to speak is once again a condition of the subject’s survival. The question of the ‘cost’ of this survival is not simply that an unconscious is produced that cannot be fully assimilated to the ego, or that a ‘real’ is produced that can never be presented within language. The condition for the subject’s survival is precisely the foreclosure of what threatens the subject most fundamentally; thus, the ‘bar’ produces the threat and defends against it at the same time [135]. The conflict of The Great Gatsby, if we apply Butler, focuses on Nick Carraway through the threat of Jay Gatsby’s impediment on social hierarchy. The foreclosure of the threat, the execution of Gatsby, presents the ‘bar’, the moral dilemma to which Nick must react. According to Saussure, â€Å"The social uses of language owe their specifically social value to the fact that they tend to be organized in systems of difference †¦ which reproduce †¦ the system of social difference. †¦ To speak is to appropriate one or another of the expressive styles already constituted in and through usage and objectively marked by their position in a hierarchy of styles which expresses the hierarchy of corresponding social groups† [Butler 157]. As Butler points out, Saussure is rehabilitating the base/superstructure model through the relationship of language and the social system [Butler 157]. The fight of Gatsby is really over cultural norms, and how Nick reacts in the last chapter is essential to the American future, in terms of Habermas, but also presents the threat of Nick being cast into the realm of the unspeakable. In his final encounter with Jordan Baker, Nick learns that turning 30, with the â€Å"portentous menacing road of a new decade† before him [Fitzgerald 143], comes final responsibility in speaking. When he says to her, â€Å"I’m thirty. †¦ I’m five years too old to lie to myself and call it honor† [Fitzgerald 186], Nick realizes he insults Jordan, casting her into the unspeakable by citing their age difference: â€Å"She didn’t answer. Angry, and half in love with her, and tremendously sorry, I turned away† [Fitzgerald 186]. Not knowing exactly how he feels about Jordan and speaking without knowing, Nick comes to understanding the importance of speech through the guilt and shame he feels. That his ambivalent feelings toward Jordan, being half in love with her, mirror his feelings toward Gatsby, the contradictions that Donaldson points out would indicate that Nick comes to an informed decision about Gatsby before telling the story. At some point between Nick telling Gatsby â€Å"They’re a rotten crowd. †¦ You’re worth the whole damn bunch put together† [Fitzgerald 162] and telling the reader, â€Å"I disapproved of him from beginning to end† [Fitzgerald 162], one sentence later, Nick came to a moral understanding with socio-cultural and political implications. How to cite Political Theory and the Great Gatsby, Papers

Windows Nt Essays - Advanced RISC Computing, Windows NT,

Windows Nt Windows NT Operating System Windows NT History. Since it was first released in 1993, Microsoft Windows NT Server has established itself as the network operating system (NOS) of choice for countless organizations of all sizes in private industry and public agencies. They have discovered that Windows NT Server is extremely reliable, highly scalable, and capable of handling the complex, mission-critical demands of even large Fortune 500 corporations. But the widespread adoption of Windows NT Server stems from more than just its operating system capabilities. What IT managers in every industry are discovering is that Windows NT Server provides a complete and solid platform for an all-encompassing range of services and activities. It combines the best aspects of an application server, a file and printer server, a communications server, and a Web server -- along with interoperability and management features that make it an excellent NOS for organizations, whether they have mixed computing environments or operate entirely on Windows NT S erver. ?Windows NT provides the backbone for a complete, organic system, where all elements working together seamlessly. When joined with other Windows NT-related products, including the BackOffice family of applications and Windows NT Workstation, Windows NT Server provides the foundation for a powerful and well integrated environment. That integration means that administrators and developers can focus on their jobs, instead of spending time and money wrangling with disparate systems and applications.?1 Scalability. Windows NT runs across both Intel- and RISC- based architectures, providing maximum flexibility and minimizing the number of operating system platforms that businesses need to support. Windows NT runs 32-bit applications , and many 16-bit applications. That's because each 16-bit application can run as a separate, multi-tasked process in its own memory address space--isolated from other active applications. This multi-tasking process also boosts application speed and responsiveness, and provides maximum data and application protection. Windows NT is also licensed for use on Symmetric Multi Processing (SMP) servers with up to eight processors for high scalability. Versions of Windows NT Server, available from select system vendors support even larger SMP servers? up to 32-processor support. Large SMP servers running Windows NT Server represent a powerful upgrade path for enterprise applications that need to handle more users and data. NT Enterprise Edition's 4 GB Memory Tuning feature (4GT) supports servers that have up to 4 GB of RAM. This new capability allows memory-intensive applications running on the OS to use up to 50 percent more RAM on 32-bit Intel-architecture servers. 4GT does this by reducing the potential RAM allocated to the Windows NT kernel from 2 GB to 1 GB and increasing the potential RAM allocated to applications from 2 GB to 3 GB. The result can dramatically improve performance.2 NT Security. The high level of security in Windows NT provides benefits in both standalone and connected environments, and works regardless of your choice of network operating system. That's because Windows NT a virtual gate through which all users, resources, and applications must pass--giving comprehensive control and security. The security features in Windows NT Workstation include: User authentication and access control Industry standard-based certificates to verify the origin of unknown code The Windows NT File System (NTFS) to protect the file system and its contents Auditing to identify potential risks Point-to-Point Tunneling Protocol (PPTP) for secure Internet connections With Windows NT, you control which users and applications have access to your crucial data, line-of-business applications, and base operating system--so you can keep your system safe from tampering or user error. And you can set separate user profiles on a single desktop, each with its own set of clearances and prohibitions. ?A secure network system has many characteristics. A baseline measurement of a secure operating system is the U.S. National Security Agency's criteria for a C2-level secure system. Although C2 security is a requirement of many U.S. Government installations, its substantial value extends to any organization concerned about the security of its information.?3 The operating system must protect data stored in memory for one process so that it is not randomly reused by other processes. For example, Microsoft? Windows NT? Server operating system protects memory so that its contents cannot be read after it is freed by a process. In addition, when a file is

How to Get Your GED Online The 4 Best Courses

How to Get Your GED Online The 4 Best Courses SAT / ACT Prep Online Guides and Tips No high school diploma? Then you might be thinking about taking the GED test. Can you take the GED online? What about online GED courses? In this guide, we’ll discuss what the overall GED process entails and why you can’t actually take the GED online (even though it would definitely be more convenient!). We’ll also give you our top picks for the best online GED classes. What Is the GED Process? Overview The GED (short for General Educational Development) test is a group of four subject tests that, when passed, certify that one has achieved the US and Canadian high school educational standards. The four GED subjects are as follows: Language Arts Social Studies Science Math As an alternative to a high school diploma, the GED targets those who did not finish high school and who are older than 16. It tests the same essential skills students learn in high school. So what exactly is the process for taking the GED? Here’s an overview of the steps: Check your eligibility: As stated above, in order to take the GED, you must be at least 16 years old and not currently enrolled in high school. Some states have requirements in terms of how long you must have been out of high school, so be sure tocheck your state's policies on this before you decide to take the GED. Register for the GED: You mustmake an account on the official GED website to be able to register for the test. Note that you can take up just one of the tests or all four at once. Each subject test costs about $30 (this price can vary slightly depending on the state). Prep for the GED:Though studying isn’t required, it’s certainly encouraged, especially if you haven’t taken a high school class in a long time or are rusty with a particular subject. We’ll talk more about what you can use for your GED prep shortly. Take the GED test: The final step is to go to your testing center and take the GED! This is just a brief outline of what you can expect when starting the GED process. But can you take the GED online? Can You Take the GED Test Online? The short answer is no, you cannot take the GED online. Similar to many standardized tests, includingthe GRE, the GED can only be taken in person at an authorized GED test center. Although the GED is administered on a computer, you can’t take the test at home or online from anywhere other than an authorized test center. You can search for nearby test centers using the GED website test center search tool. Unfortunately, this hasn’t stopped websites from claiming to offer real GED diplomas and certificates online. Any website you come across that insists you can earn a GED online or take the GED test online is simply a scammer trying to steal your money. Don't be fooled! All they are actually offering arefake GED diplomas and certificates that are not accredited or recognized in the US or Canada. Even the official GED website has a page warning against these GED online scams: "If the state isn’t awarding you the GEDÂ ® credential or you are taking the exam online or at home, you’re paying for something other than the GEDÂ ® test. Don’t assume a website is stating the truth when it says 'accredited.' They’ll say anything to take your money! To find out if a high school or online program is recognized or accredited by your state, please contact your state's Department of Education." So what can you do online with the GED? Though you can’t take the test on your own computer, you can prep for it using online resources and classes.Read on to learn more! The 4 Best Resources for Online GED Classes and Prep You can’t take the GED test online, but there are many (legitimate!) online GED classes you can take that are guaranteed to help you do your best on exam day. Here are some top resources you can use for online GED courses and prep. #1: Official GED Website By far the best resource you can use for GED prep is the official GED website. The GED Testing Service not only has a tool to help you find in-person prep courses near you, but also offersan array of high-quality, live online GED classes. Course materials can be accessed anytime and anywhere from your computer, cell phone, or tablet. Each live class lasts 60-90 minutes and is taught by an expert Kaplan instructor. This video shows you how these official online GED courses work: The cost is $129 for 90-day access to all four subjects.Alternatively, you can get45-day access to one subject for $59 (Language Arts or Math only). If you don’t want to pay a lot for a class, the GED Testing Service offers practice tests and practice question flashcards for $6-$15 per subject. #2: Kaplan Kaplan is already a pretty famous test-prep company, but it shines extra brightly when it comes to its offerings of GED prep materials. In addition to the live online GED classes Kaplan does in conjunction with the GED Testing Service, the company offers a self-paced online GED class for $129. This three-month course is ideal for working adults and people with kids since you can study on your own time and at your own pace. With this course,you will get access to more than 150 instructional videos, hundreds of GED practice questions, a diagnostic test, and a final practice test. #3: UGO Prep If you're in a time crunch, UGO Prep offers a top-rated two-week GED online course. Online practice tests include real GED questions from previous exams and use an interface extremely similar to what you’ll see on test day. The course costs $69.99 for one-month access to the full study packagefor all four subjects. You can also buy add-on features,including math lecture videos ($9.99), audio lectures ($24.99), and flashcards ($14.99). If you’re not sure how long your GED prep might take you, you have the option to upgrade your package to lifetime access for $15 more- a pretty good value when you compare this price with those for the official online GED classes and Kaplan GED online course described above. #4: Union Test Prep If you’re searching forfree GED classes online, I recommend Union Test Prep. This company offers a broad array of free GED prep materials, from full practice tests to flashcards to study guides. Though these materials aren't a GED online course in the traditional sense, you can use them to structure your own GED review sessions, going over only what you need to know. With Union Test Prep, you’re getting a comprehensive overview of the different kinds of questions and topics you can expect on the GED for all subject areas. You’ll also learn about the GED format and question types. Key Takeaways:Getting Your GED Online The GED is a set of four subject tests that, when passed, earns you certification equivalent to a US or Canadian high school diploma. The test is exclusively administered at GED testing facilities, meaningyou cannot take the GED online. Any website or company that claims to offer the GED test or GED diplomas/certificates online is a scam and should not be trusted! Despite this risk, the internet isn't completely worthless when it comes to GED prep.You cantake online GED courses to help you prepare and review for the exam. The best online GED classes we recommend looking into are those by the GED Testing Service, Kaplan, and UGO Prep. If you'd rather save some money, try studying with thefree GED online study materials provided by Union Test Prep. What’s Next? What exactly is the GED? Learn everything there is to know about this high school equivalency test, including who takes it and whether you should, too! What is a high school equivalency diploma? Get the scoop on how these diplomas differ from your typical high school diploma. Not sure whether you need a high school diploma to do what you want in life? Then take a look at our comprehensive guide to how you can get a high school diploma, even if you're not in high school currently. Have friends who also need help with test prep? Share this article! Tweet Hannah Muniz About the Author Hannah received her MA in Japanese Studies from the University of Michigan and holds a bachelor's degree from the University of Southern California. From 2013 to 2015, she taught English in Japan via the JET Program. She is passionate about education, writing, and travel. 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Free sample - Descartes Proofs of GodDeception and Error. translation missing

Descartes Proofs of GodDeception and Error. Descartes Proofs of GodDeception and ErrorFrom the beginning of the third meditation, Descartes seeks to establish the existence of god using his initial concept of self awareness. Descartes argued that because he thought, then he lived. Thinking ability at this time was linked to being alive and thought that there must be a god who puts the thoughts in his mind. In his quest for indubitable truth, Descartes came up with the theory of ideas, which classified those things that he considered distinct and clear to be true. Descartes argued that the idea of god should be coming from within him since he cannot experience god himself directly or find any perfection in himself. Firstly, Descartes in the third meditation sets out to prove that God does indeed exist. To begin with, he considered that the source of an idea must be as real as the idea itself.   He thought that since his idea of god had overwhelmingly unlimited content, then the one who caused the idea must be infinite and that it must be god, and thus asserted that what is more perfect cannot arise from what is imperfect.   In his conclusion, Descartes says that god is a substance that is omnipotent, omniscient, independent and infinite. He argued that if the objective reality of an idea could not come from him, then it could have come from something else. The basis for the arguments he put forward lies in the origin of these ideas.   He claimed that the ideas were suggestive that they did not come from inside him, making him to conclude that they must have come from god and therefore, God exists. Secondly, to come up with the second proof of Gods existence, Descartes thought that the power and action that is needed to preserve something is capable of creating something new. He argued that there must be as much power in the cause just as it is in the effect. According to the philosophical writings of Descartes, upon knowing that he did not have power to preserve his own existence because he was just a thinking thing; Descartes concluded that the power must have come from outside him (Descartes, Cottingham and Murdoch 26) And since he is a thinking thing, he claims that the one who created him must also be a thinking thing, possessing all the ideas and attributes of god. In addition, he observed that his parents could not be responsible for creating and preserving his life. Descartes therefore concludes that the one who created him and gave him ideas of a perfect God must be God, therefore God exists. The difference between the two proofs is that the first proof is based on the premise of objective reality and the consideration that the source of an idea must be as real as the content of the idea itself. The second prove is based on causality; that the power and action that preserves lives is capable of creating something new. Both of these proofs of God’s existence are not convincing since they are founded on arguments that can be challenged. The method used by Descartes to come up with the reality he termed as objective reality is not clear.   The proof based on causality has been criticized as being circular (Doney Willis, 2010). This means that it is not possible to claim   that one is proving the existence of God, yet that person is using knowledge he terms as distinct and clear from God to know that God. Descartes claimed to perceive some things distinctly and clearly on the grounds of God’s existence. In addition, the argument that Descartes fronts that to be alive is to be perfect is not true since it will mean then that we are either perfect as humans, or God is also imperfect. Descartes required two proofs of the existence of God so as to appeal both to the religious beliefs of the church during his time as well as a scientific proof of god’s existence in order to appeal to fellow contemporary scientists. These were the two categories of people in Descartes’ society who formed the popular opinions and criticized every new development. Descartes wanted an idea that could be generally accepted by the society. The two proof worked well for Descartes since from his time until today, his ideas are still being used and referred to both in religion and in the scientific fields. In the fourth meditation it is indicated that an error is a moral failing that can be committed when one willfully exercise the powers of believe in excess of their ability to perceive truth. According to Descartes, the ideas, also called judgments can either be true or false, because it is simply about making judgment that likens to the things that are accepted or denied (Descartes, Cottingham and Murdoch 88).   Therefore, if one affirms that an idea corresponds to a thing itself, yet it does not, then an error is said to have occurred.   ‘I do make mistakes by misusing my free will to assent on occasions that my understanding does not have a clear and distinct ideas’   the open influence by God on our thoughts, personal misuse and evil demon renders the account on human error unsatisfactory. The argument that all that thinks is perfect implies that God is also imperfect. In conclusion, the arguments that Descartes presents have several weaknesses that are subject to challenge, for example the fact that one of which is the circular nature of the causality proof.   Doubting of senses and thoughts is also evident in the meditations, indicating that the arguments may not be credible. The imperfect beings arising from the perfect and the god perfect being in the imperfect man invalidates the argument. Descartes, R, Murdoch, D. Cottingham, and J.   Descartes: selected philosophical writings Cambridge: Cambridge University Press, 1988. Descartes, R, Murdoch, D. Cottingham, J.The philosophical writings of Descartes, Volume 2. Reprint. Cambridge: Cambridge University Press, 1985.

Introduction to Communication-Emotional Responses-discussion Personal Statement

Introduction to Communication-Emotional Responses-discussion - Personal Statement Example I vividly remember a situation when a colleague of mine tried to load me with a job, which actually happened to be his responsibility. It being a hard day, I really got angry. I had an interaction with my colleague regarding this issue. Though I didn’t use rude language, I managed to convey my resentment and anger through my bodily gestures. My face was flushed red and I was leaning slightly forward, in a way violating the personal space of my colleague, during this talk. While talking, my eyebrows happened to be down and close to each other and I must admit, I had a rude glare in my eyes. My lips were narrowed and quivering all through that short talk and I was sweating a little. My colleague was able to notice my anger by seeing my body language, though I spoke a little, and he apologized for his mistake. Though I managed to get what I wanted, in retrospect I think that my bodily gestures were a way too aggressive during this interaction, and I could have acted more restrain ed and

Lolita vs. Frankenstein Essay Example | Topics and Well Written Essays - 1500 words

Lolita vs. Frankenstein - Essay Example It is almost in the same period that Vladimir Nabokov gave vent to a world clung to puritanical thoughts in Lolita. Lolita was very sensational in United States in the late 1950s because of its controversial substance. Many critics branded the novel as pornographic trash, and they condemned this masterpiece as a piece of poor quality literature. However, there were many other critics who praised the work for its uniqueness, genuineness, and vivacious wit. In this novel, Nabokov formed the character of Humbert Humbert as complex mixture; he is a mad rakehell as well as wild romantic at the same time and Lolita falls a victim of his incessant obsession for her but ended it as form of murder. The essay seeks to bring out a comparative and contrastive study between the two novels in terms of their themes, character sketches and the over all setting and treatment of both the novels. While Frankenstein depicts the story of the hero who is ruined by his unchecked pursuit of knowledge, in Lo lita the tragedy of the hero stems from his obsessive drive for sex and violent nature; both fail to foresee the consequences of their actions until they are completely ruined. The strong passion of Love is the basic instinct of sex that is displayed on various forms on this novel. â€Å"Lolita, light of my life, fire of my loins, my sin, and my soul† (Nabokov part 1: 1) utters Humbert in the opening of the novel which shows his deep passion and strong desire on Lolita. It also displays mixture of feelings such as deep pain, love, anger and regret that he experiences. In the book of Frankenstein the author indicates the strong desire of Frankestein to produce another human â€Å"Beautiful! -- Great God!† (Shelly.98). Here the author mixes up the emotions of excitement as well as enthusiasm of Frankenstein very effectively. One can notice parallels between the themes in both the novels and there are many who argue that in Lolita Nabokov reworked fundamental

Comparative Analysis of Forwards and Futures Contracts

Comparative Analysis of Forwards and Futures Contracts A Mauritian Perspective Abstract This research compares the OTC derivatives market with the exchange-traded derivatives market. Forwards contracts have been used as a representative for OTC markets and Futures for organised exchanges and the costs and benefits of each one have been analysed. This research has been done being with regard to the GBOT setting up in Mauritius. Forwards are frequently used contracts relative to others, in Mauritius. Hence, it is assumed that if the users have to shift to the GBOT, they will use futures contracts as a substitute for forwards since both have similar characteristics except that futures are more sophisticated than forwards. A survey has been done on the top one hundred and twenty companies in Mauritius out of which, only 70 have responded. The questionnaire aimed at determining the current derivatives position in Mauritius and a glance at the perception of the financial officers with respect to GBOT. Even though they believe that GBOT will benefit the country, they are unwilling to enter the market; while most of the respondents are unaware of GBOT and uncertain about the futures market and trade mechanism. Unexpectedly, it was found that some firms use futures for risk management. The results have been used to conclude whether it is viable for Mauritius to introduce an exchange and what measures can be taken to ensure that GBOT is successful. With respect to this research, it seems that the Mauritian market is not ready yet, to conceive this new development in its financial system but there are some measures that can be adopted to combat the inhibitors and there are much lessons to be learned from the record of derivatives mismanagement. List of Abbreviations AML Air Mauritius Company Limited CDS Central Depository and Settlement Company Limited CBOT Chicago Board of Trade CME Chicago Mercantile Exchange CFTC Commodity Futures Trading Commission EFP Exchange of Futures for Physical FSC Financial Services Commission FX Foreign Exchange GBOT Global Board Of Trade HSBC Hongkong and Shanghai Banking Corporation Limited MTM Mark-To-Market OTC Over-The-Counter SEM Stock Exchange of Mauritius STC State Trading Corporation S0 Spot price today ST Spot price at maturity USA United States of America 1.1 Introduction The presence of derivatives market has undoubtedly improved national productivity growth and standards of living. Alan Greenspan (Chairman of the US Federal Reserve System, 2005) Derivatives have gained prominence in the past few decades and are today a vital element in finance. Although they are the latest addition to the financial world, they have been witnessing a high rate of success. They have undergone constant innovation and active trade, notwithstanding the fact that they have led to a more complex form of hedging. Electronic trading and settlement facility has revolutionised the global financial and commodity markets by attracting international investors and increasing liquidity. 1.2 Background Theory 1.2.1 Hedging Hedging is a form of insurance that uses derivatives to absorb financial risk by locking in a price for a particular good. Its essence pertains to the uncertainties associated in prices of goods. Since prices of goods cannot be predicted with certainty, people speculate. Gol (1980) states that when everyone expects a price rise, all opinions seem to converge over a price rise, such that, if speculators enter the futures market, they would also be buyers rather than sellers and their buying activity may further aggravate the price rise. Speculation helps in effective risk management but sometimes backfires; for instance, many airlines speculated a rise in fuel prices and hedged their exposure with derivatives. Unfortunately, the financial crisis 2007-2008 caused fuel prices to decrease considerably in the spot market, but the airlines had the obligation to honour their derivative contracts at relatively higher prices. 1.2.2 Derivatives market Derivatives are financial instruments that derive their value from one or more underlying assets such as stocks, bonds, currencies, interest rates, commodities and market indices; for example, an oil futures contract derives its value from the price of oil- oil being the underlying asset. Derivatives are used extensively in financial and non-financial institutions. Forward contracts are the basic derivatives that stemmed from the goods market, and have thereupon paved the way for other derivatives. Some goods traded through derivatives are base metals, precious metals, agricultural products, energy products, foreign currencies, interest rate, and stock indices among others. Other includes contracts based on carbon, commodity indices, credit, fertilizer, housing, inflation, and weather. Source: Futures Industry Magazine 2009 For this research, commodities, assets, and goods are used interchangeably, irrespective of whether they are used in the financial, commodities or foreign exchange markets. 1.2.3 Types of derivatives There are two distinct groups of derivative instruments: forward-based products and option-based products. Forward-based products are termed linear derivatives as they offer a linear payoff and include futures, forwards, and swaps. Conversely, option-based products are non-linear derivatives since they offer a non-linear payoff and include puts, calls, caps, floors, and collars. Other derivatives, such as options on futures, swaptions, and forward caps, combine the features of both forward and option contracts. Derivatives trade in over-the-counter (OTC) markets or in organised exchanges. OTC trading occurs among a few dealers via phone or electronic messages. OTC contracts are mutual agreements made through private negotiations and transacted outside a trading platform. However, some OTC derivatives are cleared via exchanges (e.g. in the Chicago Mercantile Exchange). Swaps, forwards, and customised options are OTC contracts. Exchange-traded derivatives are standardised in terms of quantity and quality (the amount and quality of the good is fixed) and negotiation is not possible. Organised exchanges employ both open outcry system and electronic order matching systems and share similar purposes to securities exchanges. They design the contract terms and operate a clearinghouse, which acts as a guarantor, settles all contracts, and regulates trading. Large securities firms and commercial banks act as derivatives dealers. Futures and standardised options are traded on exchanges. 1.2.4 Players The three broad categories of traders in the derivatives market are hedgers, speculators, and arbitrageurs. Hedgers use derivatives to reduce the risks that they face from adverse movements in prices of goods while speculators take a position to realise gains with a relatively small initial outlay. Arbitrageurs enter the market to realise gains without risking their own capital. Conclusively, hedgers transfer their risk to speculators and arbitrageurs and thus, boost liquidity on the market. 1.3 Objective of Study A well-regulated organised derivatives market encourages a sustainable financial development and increases savings and investment in the long-run, thereby promoting economic growth. However, the concern is how and when to discern the time for its implementation in small economies. This dissertation aims at analysing the benefits and drawbacks of using forwards and futures contracts. Forwards contracts can be used by minority users, without major procedures and regulation. Contrarily, futures require significant concern and assistance of the government to support and ensure a good operating system. The research is carried out with regard to the commodities market being set up in Mauritius. Forwards laid the groundwork for futures, hence, both are treated simultaneously throughout this study. Futures (exchange-traded) are enhanced forms of forwards (OTC) but differing somewhat in the way they are traded. The costs and benefits of the two instruments are analysed and compared. This will indicate whether it is viable for Mauritius to introduce a derivatives exchange and suggests the measures that can be adopted to ensure that its objectives are attained. Swaps and options are excluded from the study because they operate differently and due to word constraint. Forwards and futures are relatively simpler and typically alike, thus, rendering comparison easier. 1.4 Overview of Remaining Chapters Chapter 2 deals with the literature review while Chapter 3 is an overview of the derivatives market in Mauritius. Chapter 4 covers the research methodology section. Chapter 5 presents the analysis and findings of the research, followed by Chapter 6, which concludes this study and includes some recommendations. chapter two: literature review 2.1 Importance of Derivatives Market Several factors such as size, leverage, asset-liability duration, and taxes amongst others, affect the hedging decision of a firm. The Miller and Modigliani theory posits that hedging is fruitless in perfect financial markets. In reality though, markets are imperfect and hedging alters a firms value by influencing its investment decisions. Bessembinder (1991) distinguishes that hedging corporate risk with forward contracts increases firms value by reducing incentives to under-invest. He also advocates that large institutions are more likely to use derivatives due to informational economies of scale. Likewise, Haushalter (2000) finds a positive correlation between hedging decision and total assets and characterises it as the economies of scale in information and transaction costs of hedging. Hedging also enables a firm to negotiate with its customers, creditors, and managers, which improves contract terms. A research on African countries suggests that volatile international capital flows have the tendency to destabilise shallow markets and precipitate a crisis if there is a change in investors appetite and urges adoption of stronger domestic policies and local derivatives markets for financial risk management purposes (Adelegan, 2009). Hedging is a zero-sum game; one does not gain from trade unless another faces a loss. The gain to the buyer will be exactly equal to the loss to the seller of the forward contract, whilst the gain to the seller will be exactly equal to the loss to the buyer. Hieronymus (1971) defines hedging as taking a position in a futures market that is equal in size and opposite to a predetermined position in the cash market. Hence, a loss in one market is offset by a gain in the other market. This principle works since cash prices and futures prices of a commodity are expected to converge as the contract reaches expiry. Anderson and Danthine ( 1981) define a pure hedge term equal to the risk-minimising futures position corresponding to a predetermined cash position. A hedger, thus, uses the possibilities offered by futures markets to minimise his risk. 2.2 Forwards Market A forward contract is a bilateral binding agreement to buy or sell a specific quantity and quality of an asset, at a pre-determined price and pre-determined future time. Normally, contracts specifying settlement in excess of 30 days after the trade date are forward contracts. Forwards are the first and simplest derivatives that sprouted in the sixteenth century in the agricultural markets, wherein they were used primarily to resist adverse price movements. Dong and Liu (2005) advocate that the equilibrium forward reduces commodity price risk; the buyer and seller will transact at the price specified in the contract, whatever the price of the underlying asset in the spot market at maturity. A forward agreement is somewhat like a legal contract, customised with respect to the needs of the particular buyers and sellers, obligating delivery of the underlying asset under the conditions specified in the contract. The buyers and sellers negotiate over the contract terms. Anderson and Danthine (1981) claim that, in the forwards market, speculators are assumed to be risk-neutral, bidding competitively to exercise arbitrage opportunities. 2.2.1 Benefits of Forward Contracts 2.2.1.1 Risk Management Typically, a forward contract alleviates financial risks, thereby protecting traders. There is no initial investment in the forwards market since cash changes hand only on settlement of the contract at maturity. This causes less volatility in cash transactions, rendering cash flows easy to manage. 2.2.1.2 Settlement Facility Cases wherein the seller defaults for some reason, contracts may be mutually settled in cash. Duffie (1989) finds that in practice, only a small fraction of forward positions are actually delivered while most are closed out before delivery by a cash settlement. Sometimes, initial traders are able to transfer their contracts to someone willing to take their obligation. Per se, it offers a certain degree of flexibility. 2.2.1.3 Trade Linkages and other benefits Forwards allows negotiation on the contracting terms, which benefits traders, builds up trust, and strengthens trade links between parties. Wolak (2007) analyses an electricity company and concludes that forward contracts reduce the cost of production as well as its volatility, and increase pro?t. Likewise, Dong and Liu (2005) show that forward contracts in non-storable goods benefit both producers and suppliers. 2.2.2 Costs of Forward Contracts 2.2.2.1 Counterparty Default Risk Forward contracts mitigate financial risks but give rise to counterparty risk (risk of default), which is one of the prominent risks in OTC derivatives. Counterparty risk can cause huge losses. 2.2.2.2 Transaction Costs In order to ensure guaranteed deals, parties with good credit ratings should be identified, which is a very costly task. Nevertheless, these firms do have a possibility to default for reasons such as insolvency or bankruptcy. An ideal illustration is the collapse of the Lehman Brothers investment bank that has created the biggest turmoil in the worlds history; following which, more concern has shifted to the OTC market. 2.2.2.3 Legal procedures Once the terms and conditions of the contract are accepted, they must be adhered to otherwise legal procedures may entail. Forwards market is an unorganised form of trade with no ability to deal with conflicts other than seeking legal recourse that may be too costly. Influential and wealthy parties only may recourse to such practices. Besides, it causes damage to the dealers reputation. 2.2.2.4 Liquidity and Transparency issues There is no possibility of closing out or reversing a forward contract. Thus, forwards lack flexibility and liquidity and forward delivery is not guaranteed in the absence of a regulator. Additionally, since the contract involves only two entities, there is reduced transparency and possibility of mispricing the goods since not all the forces are at work. 2.2.2.5 Market Power and Bargaining Power Market power and bargaining power affect the capacity for negotiation along with the forward equilibrium price. As such, small investors with lesser power may suffer. Dong and Liu (2005) show that the forward equilibrium moves in favour of the participant with high market power, such that he gains from the contract. However, when negotiation costs are very high, both producers and buyers face a loss regardless of market power and use forward contracts for risk management rather than for gains. 2.2.2.6 Informational Inefficiency A study by Mahenc and Meunier ( 1983) stipulates that there is no proper information dissemination in the forward market but under conditions of imperfect information, forward trading indirectly creates efficiency in the spot market. The necessity to deal with the shortcomings of forward contracts led to the emergence of the futures market. 2.3 Futures Market A futures contract is an agreement between two parties to buy or sell a fixed amount of an asset at a pre-decided price and date. In this respect, futures share the same characteristics as forwards; for instance, they help buyers and sellers with long term planning by locking in a price. However, futures are more sophisticated than forwards. Financial futures were traded on shares of the Dutch East India Company in the seventeenth century, but modern futures markets originated in Japanese rice futures, which were traded in Osaka in the eighteenth century. Futures emerged with the grading system, which purported to ensure that at maturity, the quality of goods delivered was as specified in the contract, which eventually led to standardisation of futures contracts. Futures are standardised contracts in respect of quantity, quality, delivery date, and location. They trade on organised exchanges, which are responsible for setting the quantity, quality of the underlying asset in the contract. Moreover, the exchange sets the terms and conditions of the contract, which are non-negotiable by the traders. All investors are treated equally; small investors are also able to hedge without difficulty. 2.3.1 Structure of the Futures Market Futures exchanges share the same purpose as securities exchanges. They usually have an integrated clearinghouse for clearing and settlement facility. Brokers, who are also members of the exchange, are responsible to match the buy and sell orders without buyers meeting sellers and vice-versa. Only members are allowed to trade on the platform, thus, a non-member wishing to deal in futures, should trade through a broker. The exchange connects buyers and sellers worldwide, communicates and keeps parties joint and ensures compliance with the terms and conditions of the contracts. Exchanges use open outcry in pits or electronic order matching systems or some use both, such as The Chicago Mercantile Exchange. Some authors argue that the open outcry system is more liquid and transparent than the automated system. Traders need to deposit a margin with the exchange prior to trade. The demand for margin (a percentage of the value of the contract) is referred as collateral or as a good faith deposit (Gay, Hunter, and Kolb 1986). All traders are required to have a minimum stated sum of money in their accounts. Contracts are settled on a daily basis: the mark-to-market system (MTM) which affects the contract price. If price of contract increases on a particular day, the holder makes a profit, which he can withdraw from his account, whereas if price decreases, he makes a loss and the amount is deducted from his account. As such, he is required to deposit a margin, referred as a call margin, to replenish his account to the threshold level, known as the variation margining system. Futures contract protect the value of inventories and partly finances the cost of storage since the future price of a commodity is dependent upon its cost of carry (Future price = cash price +cost of carry). This helps to improve marketing policies, financial planning, and long-term forecasting of prices. If ST is expected to be higher than current S0, then the current futures price will be set at a high level relative to the current S0. Likewise, if ST is expected to be lower at maturity, current futures price is set low. 2.3.2 Benefits of Futures Contracts Fundamentally, futures market confers two main purposes: price discovery and price risk management. The market provides protection against default, manipulation, and abuse. 2.3.2.1 Risk Management and Settlement Guarantee Moser (1998) reckons that futures contracts counteract default risk and protect traders through a set of rules. Firstly, standardisation protects traders as it ensures that the quality of the goods delivered is as specified in the contract. Moreover, the exchange can order its members to produce their financial accounts for inspection if their solvency is doubted. In 1873, the CBOT decided to expel any member who refused to abide by this rule (Andreas 1894). The margining and MTM system also contribute to curtail counterparty default risk as traders are called to supplement their account for the losses incurred on their contracts within 24hours; failure to do so causes their positions to be liquidated. There is a settlement guarantee in case of default while a tight regulation ensures that manipulation and abuse is virtually absent. 2.3.2.2 Price Discovery Futures market is transparent; pricing of commodities are fair and manipulations very difficult. Electronic trading on the exchange platform pools together all forces affecting the price of a commodity, leading to price discovery mechanism, which improves efficiency and lowers costs. Technology renders the exchange highly competitive since the market reacts very fast; prices and transactions are monitored constantly while information is captured continuously and incorporated in the intrinsic value of a good. Telser and Higinbotham (1977) concur that, futures market pools trade from diverse area into a central market, thereby increasing the heterogeneity of potential transactions. They proclaim that futures are liquid as transaction occurs readily at mutually acceptable prices and that homogenisation and clarity of the terms and conditions boost liquidity. 2.3.2.3 Liquidity One need not possess the underlying asset to sell futures while one may not be in need of a commodity to buy futures. Speculators and arbitrageurs enter the futures market without possessing or the intention of buying the commodity. Thus, the transfer of risks to different players in the market increases liquidity and maintains the equilibrium in demand and supply. Telser and Higinbotham (1977) statistically demonstrate that as the number of traders in the market increases, the market clearing prices become normal. Futures can be squared-off (reverse a position) without negotiation, thus making delivery non-mandatory. Positions can also be rolled-over. If period for hedge is later than the expiry date of the current futures contract, the hedger can rollover the hedge position by closing the existing position in a futures contract and simultaneously taking a new position in another futures contract with a latter expiry date. 2.3.2.4 Transactional and Informational Efficiency Futures market increases the informational efficiency of cash market and promotes import and export competitiveness. Cox (1976) empirically demonstrates that futures trading increases traders information about forces affecting supply and demand. His analysis rejects the claim that futures trading impose costs on producers, consumers, and others who handle the physical commodity. Additionally, evidences from more fully informed traders suggest that futures trade increases efficiency in spot markets. 2.3.2.5 Increase Export Competitiveness When entering forward contracts, exporters do not, usually, possess the entire stocks for export. Futures market enables them to hedge their projected purchase, until they have to buy in the physical market for exporting. Taking a position in the futures market will help to offset the gain/loss in the physical market; that is, at maturity the net loss/gain in futures market offsets the gain/loss in the physical market. Thus, exporters can accept contracts with longer duration and increase their competitiveness. 2.3.2.6 Offsetting gains and losses in the physical market Futures market also allows a hedger to take a position in the futures market opposite to the position he takes in an over-the-counter market. Such a transaction is termed: exchange of futures for physical (EFP). The OTC and futures positions should be for the same underlying assets or at least similar in terms of value and quantity. This results in the flexibility of customising the physical market with respect to the needs of traders, parallel to the OTC market and at the same time enjoying settlement guarantee in an exchange. Usually, margin requirements for EFP transactions are lower. EFP may seem appealing but is inefficient in fair pricing. Exchange Officials apprehend that EFPs would harm the futures market by reducing volume and liquidity and inhibit fair price discovery. 2.3.2.7 Diversification of portfolios Futures on commodities serve to diversify portfolios, since they are less volatile than financial securities. Bodie and Rosansky (1980) report an average excess return of 9.5% per annum for an equally weighted portfolio of commodity futures between 1950 and 1976. Their analysis reveals that equities are riskier than commodity futures. Furthermore, total return of the equally weighted commodity futures was negatively correlated with the return on long-term bonds, suggesting that commodity futures are effective in diversifying equity and bond portfolios. The benefits of diversification from commodity futures tend to be larger for longer holding. A similar analysis carried out by Gorton and Rouwenhorst (2005) confirms that commodity futures returns have been effective in providing diversification of both stock and bond portfolios. Weiser (2003), on the other hand, contends that commodity futures returns vary with the stage of the business cycle. He finds that commodity futures usually perform well in the early stages of a recession while stock returns are generally disappointing and in later stages of recessions, commodity returns fall while equities perform well. 2.3.3 Costs of Futures Contracts 2.3.3.1 Complexity Despite appealing benefits, futures contracts inherit some costs and the prime one is the complexity of handling them. Futures were generated to deal with the limitations of forwards but, in so doing, they brought a more complex form of hedging. Proper knowledge of the market is crucial; otherwise, hedgers may face unwanted losses. 2.3.3.2 Basis Risk Basis risk (the difference between spot and futures price) is inbuilt in futures market. Hedge positions are usually not perfect due to this difference. Working (1962) emphasises that the existence of basis risk prevents the elimination of all risks. Brorsen (1995) finds that changes in basis can cause forwards to be cheapest in some periods and futures to be cheapest in others. Therefore, the benefits of hedging can be enjoyed when the market is well understood. Advanced futures concepts about hedge positions, hedge ratios, and types of hedges should also be mastered as they benefit hedgers differently in different markets. 2.3.3.3 Mark-to-Market System (MTM)-cash drain out The transaction costs involved, such as, initial margin and variation margin in the MTM system freezes up working capital that could have yielded interest. Furthermore, the margin call should be paid before next opening of the market- a very short delay. These daily settlements make transactions volatile and cash flows cumbersome to maintain. Margin costs and brokerage commission discourage some investors, especially small traders, to enter the market. Williams (1986, 1987) shows that risk-neutral firms will hedge if transaction costs are lower in the futures market than in the cash market. Moreover, instances of dual trading exist, whereby brokers trade on behalf of their clients to earn a commission, without improving the customers position. 2.3.3.4 Large Number of Participants needed Futures contracts fail for lack of interest by market participants, that is, a low trading volume. Telser and Higinbotham (1977) statistically demonstrate that the benefit of an organised market is an increasing function of the number of potential participants and hence, an increasing function of the turnover of the potential participants in that market. They conclude that an organised futures market survive only if it is perfectly competitive, which is achieved when there are many participants. If the open interest (number of contracts outstanding) in the futures market declines, the volume of trade falls relative to the open interest. The commission and the margin are raised consequently. They even assert that there is a cost to the emergence and survival of an organised exchange. 2.3.3.5 Standardisation issues Standardised nature of contracts may cause over-hedging or under-hedging. For example, a contract specifies  £1000 to be sold while a hedger may need only  £800. Therefore, he over-hedges by  £200. Conversely, say a hedger needs  £1100, he under-hedges by  £100. 2.3.3.6 Uninformed Investors Increase Volatility Uninformed investors may increase price volatility in the futures market. If the market is inefficient in information, futures prices become biased predictors of future spot prices and causes cash prices and future prices to diverge rather than converge. Usually, futures contracts with longer maturity are closer to spot prices since time is required to assimilate unanticipated shocks. However, Kaminsky and Manmohan (1990) suggest that it is impractical to make any generalisations about the short-term and long-term horizons in commodity futures market. They find that for longer periods several markets are not fully efficient. In addition, Chernenko et al. (2004) study a wide range of futures and forward rates from financial markets and conclude that forward and futures prices are not generally pure measures of market expectations; per se, they may not be an efficient forecast of the future prices of assets. 2.3.3.7 Losses Faced By Investors Other studies indicate that large scale, professional speculators can profitably forecast commodity prices, but small traders cannot. Stewart (1949) considers futures-trading accounts for small-scale speculators and discovers that they face huge losses. Moreover, Houthakker (1957) and Rockwell (1967) find that large speculators earned profits and small speculators incurred losses for a particular set of data. Similarly, Working (1931) estimated that speculators in wheat futures, incurred losses. Empirical research shows that, for cattle and wheat producers, futures markets have lower transaction costs than forward contracts, while for small firms like farmers, the contracting costs might be higher because of opportunity cost of time in learning about futures, setting up a brokerage account, and managing margin calls. It would be unnecessary for small groups of traders, well acquainted with each other to transact among themselves than use futures. 2.3 Derivatives Mishaps The history of derivatives has witnessed some spectacular losses in the derivatives markets, which includes losses made by both financial (e.g. Amaranth hedge fund, Barings Bank) and non-financial institutions (e.g. Orange country, Shell, Metallgesellschaft). The Metallgesellschaft (MG) is a German oil company, which used futures to hedge its exposure in its early 1990s. MG hedged its position with long positions in short-dated futures contracts that were rolled forward. However, the price of oil fell and then came the margin requirements, which caused short-term cash flow pressures. Members of MG claimed that these were short-term cash outflows and in the long-run, there would be a cash inflow. However, this led to a serious issue as huge cash was drained out of the system. Consequently, MG executives closed out all their hedged positions. Therefore, one lesson to be learned is to be alert at all ti

Complexometric Determination Essay

Introduction Using a Lewis base neutral molecule to donate electron pairs (ligands) to a Lewis acid metal ion center to form a single cluster (complex) ion. When the complex ions forms with a metal ion (chelation) the ligand used is called the (chelating agent). EDTA acts as a great chelating agent due to the Nitrogen and Oxygen donating an electron pair to the metal ion center to form an octahedral complex. The metal ions especially with a +2 charge or higher are the reason for water hardness to form on various objects known as â€Å"scum†. Calcium ions are typically the most common contributing factor for water hardness so this experiment uses CaCO3 (Calcium Carbonate) to analyze the hardness of an unknown sample. A scale of water hardness identifies â€Å"soft† water with a value less than 60 ppm (parts per million) and â€Å"hard† water with a value more than 200 ppm. 3 mL of ammonia/ammonium chloride buffer (pH 10) is added to the mixture prior to the titration to capture the calcium metal ions so the indicator can work properly. The experiment adds 4 drops of Eriochrome Black T as the indicator to visually see the color change as complexes are formed and the solution undergoes chelation of metal impurities. The color change from indicator starts as pink and changes to a violet then light blue color to signify the chemical phase changes throughout the reaction until the endpoint. 3 titrations are experimentally conducted to calculate the mean average of the Na2 EDTA for experimental accuracy. The EDTA mean average is then used to calculate the water hardness of an unknown water sample (#97) using 3 more titrations to calculate a mean average of the unknown water sample. An absolute deviation is calculated for each titration experiment to calculate the experimental estimated precision. The final experimental result is then compared to the city of Tempe standard for water hardness and acceptable standards. Principle (Spurlock, 2014) (Spurlock, 2014) â€Å"A complex ion is an ion containing a central metal cation bonded to one or more molecules or ions† (Chang, 2013). Just like complex ions, a ligand is a molecule or ion that is bonded to the metal ion in a complex ion (Chang, 2013). A chelating agent is a substance that forms complex ions with metal ions in a solution (Chang, 2013). The process of the chelating agent forming is called chelation. E.D.T.A. (ethylenediaminetetraacetic acid) is a common chelating agent that will be used in this experiment to chelate the metal ions. Tetraamminecopper (II) [Cu(NH3)4]2+ will be the complex ion in this lab experiment. In chapter 11.1-3 the â€Å"Kinetic Molecular Theory† is being tested in this experiment (Chang, 2013). Solids are denser than liquids and allow very little empty space to exist between molecules limiting the freedom of motion. The liquids are less dense than solids, held closely together with little space between molecules (less than solids), however, the mo lecules in liquid do not break away from the attractive forces allowing them to move past each other freely. Gases are the least dense and have the largest amount of distance between molecules allowing them to move around more freely. According to the theory, the experimental Carbon, Hydrogen, Nitrogen and Oxygen ions are able to quickly attract and find the metal ion in the liquid by donating their electron pair to the metal ion center creating the complex. These complex ions in the experiment use intermolecular and intramolecular forces to break and hold chemical bonds thru the experimental process of chelation to identify the hardness of the unknown sample. After the reaction is complete, when evaporation and or vaporization of the liquid and gas in the molecules is separated the remaining metal impurities known as â€Å"scum† are left. In chapter 4.1 hydration is used to orient the negative poles of the diatomic gases to the positive pole of the Hydrogen and metal impurities in the solution creation the complex cluster. Chapter 4 is also used for titration of redox reactions using a standard solution (Na2 EDTA) to add into another solution of unknown concentration (unknown sample + ammonia/ammonium  chloride buffer + Eriochrome Black T) until the equivalence point is reached (has fully reacted) as visually identified by the indicators (Eriochrome Black T) from the color change of pink to violet to blue. Procedure 1. â€Å"Prepare about 500mL of approximately 0.004M disodium EDTA solution. To prepare your solution, weigh out 0.7-0.8g of Na2EDTA and dissolve in about 500mL deionized water in your plastic bottle. Seal the bottle and shake vigorously for a few minutes to dissolve the salt. 2. Standardize the Na2EDTA solution using a stock calcium ion solution as the primary standard: a. Use a 10-mL transfer pipet to add 10.00 mL of standardized calcium ion stock solution (1.000g CaCO3/L solution) to a 250-mL Erlenmeyer flask. b. Add about 30 ml of deionized water to this titration flask. c. Add a magnetic stir-bar, place on a magnetic stirrer and begin stirring. A piece of white paper under the flask gives good contrast for easier detection of the indicator color change. d. Inside the fume hood, add about 3mL of ammonia/ammonium chloride buffer (pH 10). The buffer is an inhalation irritant. Stir for 30 seconds. e. Just prior to titrating the flask, add four drops of Eriochrome Black T indicator solution. Continue stirring for another 30 seconds and then titrate this solution with your disodium EDTA solution within 15 minutes. f. Slow down your titration near the endpoint, as the color change takes 3-5 seconds to develop. At the end point, the color changes from pink to violet to blue. If you feel unsure whether you’ve reached your endpoint, read and record the volume delivered and then add another drop of titrant to check for a complete color change. g. Repeat this titration two more times. Calculate the molarity of your disodium EDTA from each titration. Average your molarities from the three trials and calculate your precision. 3. Choose one prepared unknown water sample as provided. Record the unknown code in your notebook, then titrate this water sample with your standardized disodium EDTA solution: a. Transfer 25.00mL of the prepared water sample to a 250-mL Erlenmeyer flask. b. Add about 20ml of DI water to the titration flask. c. Add a magnetic stir-bar. Place the flask on a magnetic stirrer and begin stirring. d. Inside the fume hood, add about 3mL of ammonia/ammonium chloride buffer (pH 10). Stir for 30 seconds. e. Just prior to titrating,  add four drops of Eriochrome Black T Indicator solution to your flask. Continue stirring for another 30 seconds and then titrate this solution with your standardized disodium EDTA solution within 15 minutes. f. Repeat this titration twice more. Calculate the hardness (mg CaCO3/L) of the prepared water sample from each of your titrations. Calculate your average hardness and your experimental precision from the three trials. 4. Compare your results to the expected range for municipal water hardness. Check your city’s water quality lab website (e.g. http://www.tempe.gov/waterquality/typical_values.htm)† (Complexometric Determination of Water Hardness Lab, n.d.). Observations Upon adding the preparing the Na2EDTA solution the Na2EDTA solid was quickly dissolved into the DI water to create a clear solution. Later on in the procedure stage of adding the ammonia/ammonium chloride buffer into the 250 mL flask, a visual chemical reaction was observed as the ammonia buffer was mixing into the flask with CaCO3 and the unknown solution in both procedures. Upon adding the Eriochrome Black T indicator the color was visually changed from clear to light pink in both procedures. During titration of both procedures the visual color change was observed from light see-through pink to see-through violet when the process was close to ending, then from see-through violet to see-through light blue signaling then end of the reaction process.