Famous Women and their Contribution to Egypt Essay Example for Free

Famous Women and their Contribution to Egypt Essay Shagrat al-Durr took upon herself the title of Sultan and regrouped the Egyptian army to take Damietta back from the Frankish Crusaders. She become the center of power as the leader of Mamluks During this new period, that of the Mamluks, Cairo was to become the center of power. The Mamluks kept their power for more than two centuries in Egypt and Syria. Shagrat al-Durr is one of the very few women in Islamic history to ascend to the throne. Her sensational life to show the information that a striving woman had to depend on the good will of men to be able to lead. Shagrat has been a good leader using her experience at administration and leadership. That is why Mamluks have succeeded leading Egypt and Syria for tow centuries. Tiye She is the married to Ramesses III (c. 1194-1163 B. C. ) and called the queen of the 20th century. She was involved in the harem plot, which sought to assassinate the king and place her son on the throne of Egypt, and was mentioned in the Juridical papyrus of Turin. The plot against the king was discobered, and the queen and the other members of the cabal were tried in a royal court. Nothing is known of the fate of Queen Tiye in the affair. She is a worshipper of Aten. And for those who believed believe the basic elements of the story of Moses from the Old Testament, as Queen Tiye’s influence may have helped give birth to Judaism, Christianity and Islam Nifertiti She was s the Great Royal Wife (or chief consort/wife) of the Egyptian Pharaoh Amenhotep IV and mother-in-law of the Pharaoh Tutankhamun. She is considered to Cleopatra as the famous Queen of Egypt. Because of her feminine beauty you can see that she had greatly influenced the standard in the art of photography for the 20th century, not only in Egypt but also around the world. Cleopatra When you think of the phrase queen of Egypt. She will be the first one that will enter your mind. For many she is a not only one of the most beautiful queen and seductress that ever lived in the history of men. Little did other people know that Cleopatra was an educated in the sciences, and no doubt encouraged scientists and discussed their findings and thoughts with them. She would have been an equal among them, not because of her social standing, but because of her intelligence and education Furthermore. She is brilliant early mathematician, chemist and philosopher who wrote science books and met weekly with a team of scientific experts, according to a forthcoming book (Viegas, 2004). References Baron, Beth (2005) Egypt as a Woman: Nationalism, Gender and Politics. University of California Press. Mernissi, Fatima (1993) The Forgotten Queens of Islam. University of Minnesota Press, In Charis Waddy, Women in Muslim History, Longman, 1980 http://www.forbes.com/lists/2005/11/GGD7.html

Effective Appraisal Methods Undertaken By Companies Commerce Essay

Effective Appraisal Methods Undertaken By Companies Commerce Essay With the increase of globalisation and new technologies of information and communication, businesses are facing more challenges than before. Furthermore, people are moving from their own country to relocate elsewhere. This give more difficulties to businesses to understand not only their customers, but also their workforces as they are coming from different part of the world and might have different way of thinking and acting. An organisation is a group of people working together in order to achieve the goals and objective that have been set. Therefore managing those people effectively and efficiency must be a company primary focus. This research is based on the type of performance appraisal that a company should be used in order to evaluate correctly its workforce. In order words, there are many different methods such as: 360 degree feedback systems, critical incidents, forced distribution, self-evaluation, essay evaluation, behavioural observation scales and management by objectives. These methods can be divided into two categories: past-oriented methods and future-oriented methods Statement of the problem Human Resource Management is the management of the human capital, workforce within an organisation. It has many functions which are: recruitment and selection, training and development, performance appraisals and employees promotion. M. Armstrong define it as: a strategic and coherent approach to the management of an organisations most values assets- the people working there who individually and collectively contribute to the achievement of its objectives (G. Armstrong, 2006, P.3). As people make an organisation, it is important for managers to deal with their personnel enquiries effectively. Evaluate or conducting performance appraisal on employee is also very important and it is one of Human Resource Management functions. There are no standard performance evaluation methods; companies chose the method that satisfies their needs and requirement. A method is chosen according the nature and the culture of the business. Also it is important to say that each method have both advantages and disadvantages and must be analysed carefully before taken into practice. Aims and objectives of the study In order to carry out properly, accurately and normally this research, it is crucial and important to point out it aims and objectives. The research aims are: The first objective of this research is to underline the importance of performance appraisal within an organization. Why Human Resource Managers conduct or evaluate their employees. What is the reason why employees should be evaluated after a certain period of time? What is the main purpose of employee evaluation? Is employee performance related to his/her pay? Or is it because the company just want to know who is performing very well and who is not? Also has the business notice that performance appraisal lead to a kind of motivation factor for its workforce? Because some employees would like to be rewarded whenever they think they are doing a good job. The second objective of this research is to find out which performance appraisal method is undertaken by PEABODY and why have they chosen that particular method Thirdly, it is also essential to notice that performance appraisal do not only matter for the organization but also influence employees. Therefore whenever a company evaluate their employees how do they do it? Which evaluation process to do take to appraise them? Are employees getting feedback on their performance? Finally, what strategy is used by human resource manager for employees with good and poor performance appraisal? LITERATURE REVIEW According to G. Dessler, performance appraisal can be defined as: the process of evaluating an employees current and/or past performance relative to his or her performance standards. (G. Dessler, 2008, P.336). In other words, performance appraisal helps the management to identify and evaluate their employees strengths and weaknesses. As result of conducting performance appraisal by an organization, managers will be able to adopt the best suitable motivation method. For example: if an employee feedback is positive, managers should motivate or reward him because they want him to keep having good performance in the future. M. Foot C. Hook added: Managers conduct performance appraisal for variety of reason such as: improve current performance, identify training needs, to award salary increases, to increase motivation [] (M. Foot C. Hook, 2005 P.268). It can also be seen as a motivation factors when employees have the feedback on their appraisal. Managers should take different strategies with employees who have poor performance. For example they can b e sent for training and development. But before doing so, the Human resource manager should identify the reason why they have poor performance. Figure 2 explains the steps and procedures to follow when dealing with poor performance. (S. Gilmore S. William, 2009, P.247). Performance appraisal is directly link with employees training and development because when it has been conducted that an employer might be able to identify whether if their employees have to go for a training program or not. Additionally, some employees are paid depending on their performance especially those who work in the marketing department. Therefore, the company must carry out performance appraisal after a certain period of time. (G. Dessler, 2008, P.339). Furthermore, for a company to achieve their goals and objectives, each and every worker in the organization should achieve their own target. DIFFERENT TYPE OF PERFORMANCE APPRAISAL There many different types of performance appraisal such as 360 degree appraisal, forced distribution method, self-appraisal, rating scales method, critical incident method, ranking method, essay method and management by objective. 360-Degree Feedback Systems Armstrong stated: 360-degree feedback is also known as multi source assessment, is a process in which someones performance is assessed and feedback is given by number of people who may include their manager, subordinates, colleagues and customers (Armstrong, 2009, P.644). This assessment method is done by different persons in order to reduce or eliminate judgmental decision and bias. As an employee performance needs to be looked in a wider aspect, internal assessment done by managers only will not be as accurate as possible. This method is useful when appraising employees who work in call centres, receptionists and customer service. Where pass the majority of their working time dealing the customer enquiries. It is also a combination of different sources of performance appraisal information to create many different evaluator or 360-degree appraisal and feedback system. Jobs are multifaceted, and different people see different things. As the name implies, 360-Degree feedback is intended to provide employees with as accurate a view of their perf ormance. As all others methods of appraising workers performance, this method has both advantages and disadvantages. Advantages 360-degree feedback has many advantages such as: firstly, it looks at the employee performance from different point of view. It includes collecting multiple perspective of managers performance by allowing employees to compare their own personal evaluation with others people point of view. (R. Noe et al, 2003, P.388). Secondly, Armstrong argued that it increases awareness by senior management that they too have development needs. Sometimes managers and board director believe that they know everything and therefore do not need to be appraised on their performance. (Armstrong, 2009, P.646). This frequently happens in organization where autocratic management style is adopted which stipule that managers are always right employees should always follow without any suggestions. Finally, feedback receive are more reliable and objective, therefore adequate actions can be undertaken. (Armstrong, 2009, P.646) Disadvantages According to Armstrong, people are not always honest and therefore wrong analysis can be made by managers. Also, people mind can change time to time. J. Ivancevich added that: providing constructive feedback require a plan and well-trained rater. And this is not typically found in organization. (J. Ivancevich, 2007, P.260). However some has strategies to make sure that 360 work as effectively as possible. For instance: to encourage participation in its customer performance appraisal process, Xerox business services plant a tree for each customer who return a completed form. (Jackson et al, 2009 P. 334). The introduction of 360-degree feedback in place where pre-evaluation had not been conducted can be very dangerous. For instance: in place where there is low level of trust and high level of competition. When conducting your 360-degree, customers might not give their real opinion about an employee performance. Furthermore, this can also lead to an increase in bias. If an employee is assessed by customers who are friends and/or family, t hey might rate the employee according to their personal feeling rather than the employees performance. Another disadvantage of 360-degree feedback is that, it does involve too much bureaucracy as everyone will be asked to assess the particular employee. Therefore this may require lots of time. Additionally, conducted performance appraisal is not enough but taking effective decision after having performance appraisal result is very important. Lack of feedback may de-motivate employees to take another one next time. Moreover, they need to know what are their strengths and weakness. This is the reason why some companies conduct self-assessment method of performance appraisal. Forced Distribution G. Dessler says: The forced distribution method is similar to grading on a curve; predetermined percentages of rates are placed in various performance categories. (G. Dessler, 2008, P.345). Most of the time, companies divide it into three where there is the first category w here companys best employees are placed, then the second category where the second best in located and finally the last category where usually poor performance is found.(Jackson et al, 2009 P. 335). Those who fall in the first group are encouraged continuing with great performance with some options available. Employees in the second group category are also encouraged to increase their potentiality in order to reach the top first group and can get some bonuses or promotion relative to their performance. But those in the group are not given any kind of bonuses. This is where the management will look at the various reasons why there is poor performance and may decide whether training needs to be undertaken or not. Some managers will give a warning if poor performance continues and others may even be harsher and fired. Jackson et al added: In this method, the appraiser distributes employees across several categories of performance following a set rule about the distribution of rating that are permitted. (Jackson et al, P. 335) Self-Appraisal Self-appraisal method is the form of performance appraisal technique where employees appraise their own performance. Before adopting this method, HR manager should make sure that their employees understand their objectives and the criteria used for evaluation. (Mondy, 2008, P.251). This method prone the fact that only the employee is able to know what he/she does well and what he/she is lacking and need to be improved. J. Beardwell and T. Claydon added: self-assessment is the only way to give a complete picture of the performance of the employees and to avoid a criticise-defend scenario (J. Beardwell T. Claydon, 2007, P.512). Furthermore, this method require the employee to have a good knowledge of the job requirement and role so that he/she will easily identify the gap between what he is doing and what he is require to do. METHODOLOGY In order to carry out the aim of this project, it is essential to build a very good research methodology. This will include the framework that will be used in order to answer the question. Knowing what the different types of performance appraisal are, research methodology will elaborate all the different methods that will be used to collect as much information as possible relating to the topic Research Methods The aim of the project is to find out what performance appraisal method should be undertaken by company to evaluate with effectiveness and accuracy their workforce, therefore qualitative and quantitative research will be useful to conduct the project efficiently. Quantitative research is mostly used when question beginning by how many are often used. Quantitative analysis deals with the numbers and uses mathematical operations to investigate the properties of data. (N. Walliman, 2006, P.113). As compared to qualitative research, quantitative researches develop technique that produce quantitative data and which can be classified easily. Qualitative research on the other hand is a method which leads to the collection of qualitative data which are data that cannot be quantified. Qualitative research usually answer question such as: what do think about? What is your opinion about one particular product? Qualitative research deals with feeling, attitudes, opinions and ideas. It is very difficult to analyse as people might change mind or opinion time to time. J. Creswell added by saying that: qualitative research begins with assumptions. A worldview, the possible use of a theoretical lens, and the study of research problem inquiring into the meaning individuals or groups ascribe to a social or human problem. (J. Creswell, 2007, P.37) Data collection The data will be collected using many sources of data collection. Secondary data collection such as: books, magazine, articles and academic journals will be used to gather much information as far as performance appraisal is concerned. Although secondary data are often books and journals, it is important to note that this source also entails non-written materials such as: voice and video recordings, pictures, drawings, films and television programmes. (M. Saunders et al, 2007, P.248). Any kind of secondary materials on performance appraisal and human resource management related to the research question will be used for the project. Primary data collection such as: questionnaire, interviews and observation will be adopted to collect information. Those data are not available on books and are more reliable than secondary data. In order to collect primary data, questionnaire will be designed and given to one HR manager and two assistant at PEABODY. The questionnaire will carry some useful questions such as: are you conducting performance appraisal on your employees? What is the importance of doing it? Which performance appraisal method have you used or are you using at the moment? What are the reasons why that method was chosen? After appraising your employees do you give them feedback on their performance? What step or strategy do you adopt with poor performance and good performance employees? Interviews will also be done to some workers in order to have an overall picture of the topic. Data analysis Data will be analysed by looking at the findings from all those different sources of data collection. Primary data analysis will be compared to the literature review in order to know if what is written in the books is followed by organisations. Findings might be presented as graph, diagrams or charts. GANTT CHART Time Activities April May June July 15th 30th 15th 30th 15th 30th 15th Introduction Literature review Research Methodology Primary Data collection Data analysis Conclusion

Contributions of the Arrow Debreu model to financial theory

Contributions of the Arrow Debreu model to financial theory According to Elroy Dimson and Massoud Mussavian (1999), Arrow-Debreu model was developed as a model of general equilibrium that has been fundamental to economics and finance. Compared to earlier models, the Arrow-Debreu model basically generalized the notion of a commodity, differentiating commodities by time and place of delivery. For example, apples in Malaysia in July and apples in Singapore in June are considered as different commodities. Kenneth J. Arrow (1951) and Gerard Debreu (1951) work together to produce the first rigorous proof of the existence of a market clearing equilibrium, given certain restrictive assumptions. This field of research has had a profound impact not only on economic science, but also on financial markets, institutions and businesses all over the world. It often used as a general reference for other microeconomic models. As Ramu Gopalan (2008) stated, the pioneering work of Arrow and Debreu has had an enduring effect on the study of financial aspects of the economy in a general equilibrium framework. One of their key contributions is to introduce time and uncertainty into general equilibrium models. The Arrow-Debreu model was established since 1950s, many researchers had extended this model to both economics and financial economics. Although this model is criticized by various eminent economists, the dedication of this model in the history is indestructible. In this assignment, we are going to discuss the applications of Arrow-Debreu model majoring in the financial economics. The purpose of this assignment is to find out and understand more about the contributions of this model to financial theory. The applications of Arrow-Debreu model will be listed out and discussed further. Journals will be shown and summarized out in order to support our discussion. Finally, the last section in this assignment is the conclusion. 2.0 Background studies In this assignment, the applications of Arrow-Debreu model in financial economics will be discussed. But before that we have to know what the Arrow-Debreu model is. 2.1 Arrow-Debreu Model Arrow-Debreu model, also referred as Arrow-Debreu-McKenzie model (ADM model), is the fundamental model used in the General (Economic) Equilibrium Theory. It is named after its originator who are Kenneth J. Arrow (b. 1921) and Gerard Debreu (1921-2004) on Existence of an Equilibrium for a Competitive Economy as well as Lionel W. McKenzie (b. 1919). As what stated in the Farlex Financial Dictionary (2009), it says that this model is one of the most general models of competitive economy and is a crucial part of general equilibrium theory, as it can be used to prove the existence of general equilibrium (or Walrasian equilibrium) of an economy. Once we can prove the existence of such an equilibrium, it is possible to show that it is unique under certain conditions, but not in general. Furthermore, Arrow went on to extend the model to deal with the issues relating to uncertainty, stability of the equilibrium, and whether a competitive equilibrium is efficient. 2.2 Applications of Arrow-Debreu Model Arrow-Debreu model leads to a huge impact on economics and financial economics. First of all, it solves the long-standing problem of proving the existence of equilibrium in a Walrasian (competitive) system. This model analyzes the exact situations of those markets that are very competitive. In economics, Arrow-Debreu model suggests that a set of prices such as aggregate supplies will equal to aggregate demands for every commodity under certain assumptions made about the economic conditions (i.e. perfect competition and demand independence). Formulated in a purely mathematical form, the Arrow-Debreu model can be easily modified into spatial or intertemporal models with proper definition of the commodities based on the commoditys location or time of delivery. When commodities are specified to be conditional on various states of the world, the Arrow-Debreu model can easily combine expectation and uncertainty into the analysis. Besides, theoretical extensions and applications have been made to analyze financial and monetary markets and international trade, as well as other subjects. With a general equilibrium structure, the model is applicable in evaluating the overall impact on resource allocation of policy changes in areas such as taxation, tariff, and price control. Moreover, it applies to all general equilibrium models that are heavily dependent upon accurate mathematical proofs. In the field of financial economics, Arrow Debreu represents a certain kind of securities product which named as Arrow-Debreu security. This distinguished concept is a good teaching tool to understand the pricing and hedging issues in derivatives analysis. On the other hand, the Arrow-Debreu Model is also used in areas like financial engineering. But it has turned out to be very limited, especially in the multi-period or continuous markets. The model has been subject to the criticism that many of the assumptions it makes do not fit the workings of the real economy. However, the truth is that the Arrow-Debreu Model is very important for the derivative industry and helps the industry to grow at a rapid pace. 3.0 Literature Review In previous section, we have mentioned some applications of the Arrow-Debreu model both in the field of economics and financial economics. Now, the applications of this model majoring in financial economics will be discussed further. The functions of Arrow-Debreu model can be divided into six categories, asset pricing model, equity risk premium, corporate finance, Modigliani and Miller Theorem, Arrow-Debreu security and others. 3.1 Asset-pricing model From the studies, most of the Arrow-Debreu models applications are commonly used in shaping the asset-pricing model. Arrow-Debreu model was acted as an origin which gives the insight that consumption in different future states could simply view as different consumption goods according to Elroy and Massoud (1999). This result is proved and can be seen through various researchers journals. It is undeniable that the Arrow-Debreu model plays an important role in constructing the asset-pricing model. The evidences are given in following paragraphs. Based on the journal of Asset Pricing at Millennium written by John Y. Campbell (2000), he stated that theoretical and empirical developments in asset-pricing has taken place within a well establish paradigm for the last twenty years. While the well establish paradigm that he mentioned here is referred to the Arrow-Debreu model. Same as Franklin Allen (2001), he indicated that asset-pricing models are typically special cases of neoclassical Arrow-Debreu model. In the traditional Arrow-Debreu model of resource allocation, firms and households interact through markets and financial intermediaries play no role. On the other hand, the key element of the analysis in the modern version is the stochastic discount factor, which incorporates the Arrow-Debreu state prices and allows the assets to be priced. He also commented that this approach and the focus on the risk-return trade-off have allowed a rich interplay between the empirical and theoretical work. The equity premium puzzle is given as an example of special cases within the Arrow-Debreu framework in order to support his statement. Moreover, Elroy and Massoud (1999) narrated the historical development of asset pricing and derivative valuation on Three Centuries of Asst Pricing. He pointed out the success of conceptual framework that setting up the theory of asset pricing is down to Arrow (1953)s hard work. Dissatisfied with the current Arrow-Debreu framework, Arrow built up a series of contingent claims that follow the resolution of uncertainty to explain how one can achieve markets that are almost complete. Varian (1985) analyzed the impact of divergence of opinion on asset prices in an Arrow-Debreu economy. By considering the Arrow-Debreu model with agents who have different subjective probabilities, he compares and concludes the differences of opinion in an Arrow-Debreu contingent claim context. Based on his journal Divergence of Opinion in Complete Markets: A Note, three results were established. He concluded that in practice, increased dispersion of beliefs will generally be associated with the reduced asset prices in a given Arrow-Debreu equilibrium. Also, he uses this model to show that other things equal, if risk aversion does not decrease too rapidly, then assets with more dispersed opinion will have lower prices or vice versa. P. Bossaerts and C. Plott (2004) had done six financial markets experiments of testing two of the most basic propositions of modern asset pricing theory. The Arrow-Debreu model and the Sharpe-Lintner-Mossin Capital Asset Pricing Model (CAPM), these two theoretical models are used to be the framework of their experiments. In the end of their experiments, they discovered a swift convergence towards equilibrium prices of Arrow-Debreu model or the CAPM. This discovery is significant because they use the subjects that lacked of information to intentionally set the asset prices. Sometimes, the equilibrium is not found to be robust which clearly shows a result of deviations of subjective beliefs from objective probabilities. However, they still find the evidences that prove this does not destroy the tendency for markets to equilibrate as predicted by the theory. 3.2 Equity Risk Premium Next, the Arrow-Debreu model is applied to explain the equity risk premium. In an attempt to explain the equity risk premium, Rajnish Mehra and Edward C. Prescott (1985) developed an Arrow-Debreu asset pricing model. They found that historically the average return on equity has far exceeded the average return on short-term debt and Treasury bills. Thus, they try to use the Arrow-Debreu model to interpret this situation. In the end of the journal The Equity Premium: A Puzzle, they concluded that only those equilibrium model with friction (i.e. non-Arrow-Debreu models) will be the one that successfully explain both high equity risk premium and low risk-free returns. However, Rietz (1988) overthrew the conclusion of Mehra and Prescott (1985) in The Equity Risk Premium: A Puzzle. He mentioned that the reason for them to reject the Arrow-Debreu model is their specifications which cannot explain the high equity risk premium and low risk free returns that characterize the U.S. economy. Hence, he re-specified their model to include a low-probability, depression from a high return of compensation for the extreme losses during the market crashes, captured those possible effects from the market crashes and finally successfully proved that these crashes allow it to explain both high equity risk premium and low risk free returns without abounding the Arrow-Debreu paradigm as well as not altering their models attractive features. In the journal The Equity Risk Premium: A Solution, he explained further that it does so with reasonable degrees of time preference and risk aversion provided the crashes are apparently severe and not too unimaginable. 3.3 Corporate Finance According to Jean Tirole (2006), he specified that a substantial and important body of empirical work has provided a clearer picture of patterns of corporate financing and governance, and of their impact for firm behaviour and macroeconomic activity. One of them is the Arrow-Debreu model. During 1970s, the dominant Arrow-Debreu model of frictionless markets (presumed perfectly competitive and complete, unhampered by taxes, transaction costs, as well as informational irregularity) can prove to be a powerful tool for analyzing the pricing of claims in financial markets, but little about the firms financial choices and about their governance. Besides, in the complete market paradigm of Arrow (1951) and Debreu (1951), the financial claims returns depend on some choices such as investments, are assumed to be contractible and therefore are not affected by moral hazard. In Jean (2006)s opinion, financial markets were not plagued by problems of asymmetric information because investors agree on the distribution of a claims returns. Viewed through the Arrow-Debreu lens, he identified that the key issues for financial economists are the allocation of risk among investors and the pricing of redundant claims by arbitrage. Michael J. Brennan (1995) also clarified that the abstract simplicity of the Arrow-Debreu model yields few insights for corporate finance beyond the value additivity principle that was used to refute the conventional wisdom that conglomerate mergers will add value to the company through the corporate diversification. 3.4 Modigliani and Miller Theorem (M-M Theorem) Another application of Arrow-Debreu model is related to M-M theorem which devised by Franco Modigliani and Merton Miller (1958). This theorem explains that a firms financial structure is irrelevant under certain conditions, Arrow-Debreu environment. The value of a financial claim or a firm which equal to the sum of the values of the claims it issues is thus equal to the value of the random return of this claim or the firm computed at the Arrow-Debreu prices (the prices of state-contingent securities). Therefore, Arrow-Debreu model is used as a fundamental of economy in formulating M-M theorem. 3.5 Arrow-Debreu Security (State Contingent Claim) Mostly, Arrow-Debreu security will be the answer of the applications of this model majoring in financial economics if we searching it through the internet. Based on the journal A re-examination of the Modigliani-Miller theorem written by Joseph E. Stiglitz (1969), in a section entitled Arrow-Debreu securities, he not only showed the M-M theorem in a complete markets setting but also mentioned about the Arrow-Debreu model under uncertainty in which individual can buy or sell the promises to pay if a given state of the world occurs. This shows a direct relationship between the Arrow-Debreu model and the Arrow-Debreu security. Through the calculation, he observed that if he takes literally the Arrow-Debreu definition of a state of nature, there is undoubtedly will be more states of nature than firms and most of these states are similar with each other. An example, variation in the return on stocks can be explained by the business cycle, is given to support his statement. Robert E. Lucas (1984) analyzed the unified theories of money and finance on Money in the Theory of Finance. He examined and commented that financial and monetary theory have different objective, however, the desirable theoretical unity may be, one can identify strong forces that will continue to pull apart these two bodies of theory. He mentioned that the theory of finance is conducted almost entirely within the Arrow-Debreu contingent claim framework such as the three pillars of modern financial theory which have been reformulated in contingent claim terms. Besides, he wrote that the applications of the Arrow-Debreu contingent claim formulation of a competitive equilibrium for an economy operating through time is subjected to stochastic shocks. In the end, he concluded that the power in applications of the contingent claim point of view is obviously evident in finance, will be as usefully applied to monetary theory. One more thing that he suggested is the source of this power which is the ability of this framework to permit the reduction of the study of asset demands to the study of demands for the more fundamental attributes to which assets are claims. 3.6 Others Apart from those above categories, Arrow-Debreu Models can be used for other purpose. For instance, it acts as a fundamental to explain the pattern of trade, to formulate the fixed price equilibrium or to find out whether the financial markets are arrangements for risk-sharing. Furthermore, it is extended further to analyze the restrictions and developed further that include a sequential market model with the financial markets. One of the section in the journal Differences of opinion in financial markets written by Hal R. Varian (1989), an Arrow-Debreu contingent consumption model of the sort studied by Milgrom and Stokey (1982) was examined. Through the mathematical calculation and the analysis of the consequences for assets market equilibrium based on the Arrow-Debreu model, it ends with a similar result, prices are determined by information, but the pattern of trade is determined by differences in opinion. In order to establish the important difference for trade is the opinion, he analyzed some of its consequences for assets market equilibrium. At last, he stressed that the volume of trade in an Arrow-Debreu model is due primarily to the differences of opinion. Next is the Claus Weddepohl (1983). He discussed and addressed the development of the theory of general equilibrium during the last twenty-five years. Considering and analyzing the Arrow-Debreu model with futures markets, he showed the result that this model gives rise to temporary equilibrium models. He stated that the fixed price equilibrium models are formulated through the study of these models and the study of the stability of price adjustments. The simple fixed price equilibrium model as defined by Barro and Grossman (1971) and Malinvaud (1977) is what he emphasized in the journal Developments in the Theory of General Equilibrium. Ouattara (1994) applied the Arrow-Debreu model to the small villages in the McCarthy Island Division South (MID-South) of The Gambia to find out whether financial markets are arrangements for risk-sharing. The main objective of risk-sharing is to verify that observed consumption patterns are consistent with patterns predicted by insurance models. The Arrow-Debreu full insurance model focuses on consumption smoothing across different states of nature at each particular point in time through state-contingent contracts. In the end of his research, the results supported the hypothesis that state-contingent loans are accepted in rural Gambia and there is full risk-sharing among participants in the financial markets. Peter H. Friesen (1979) extended the Arrow-Debreu model to financial markets which include the sequential market model. It is done by dropping the contingent contracts from the Arrow Debreu model, leaving only a sequence of spot markets for commodities. This leads to an inefficient market structure but efficient for sequence of stock markets and option markets. The purpose of the journal The Arrow-Debreu Model Extended to Financial Markets is to develop further the Arrow-Debreu model. The method that he used is through the extension of Arrow (an equilibrium in one model was constructed from that of another). For example, financial securities, Arrow certificates can be constructed from options on common stock and the advantage in the general equilibrium theory of financial markets, are the proofs of using Arrows method. On the other hand, the sequential market model for which equilibrium are constructed from the Arrow-Debreu equilibrium derived in Debreu (1951). From the fact that Arrow-Debreu equilibrium exist, it follows by construction that equilibrium for this model exists. It also follows that the equilibrium is efficient. Peter (1979) stressed that such models are used both to study financial markets and to explore the effects of a gradual resolution of uncertainty. Lastly, he concluded that it not only shows the close relationship between these two models but also reminds us that the potential value of finite-horizon Arrow-Debreu models for the study of sequential economies. Investors in financial markets face several restrictions apart from wealth constraints. So, we have the right to understand the restrictions in a general competitive equilibrium. Based on the journal Contributions to Intertemporal Models in Financial Economics written by Ramu Gopala (2008), the Arrow-Debreu model was extended further for the usage of analyzing those restrictions. He indicated that the traditional Arrow-Debreu model can be extended to a more realistic setting. Following Angeloni and Cornet (2006), this extension of the Arrow-Debreu model in the multi-period setting with restricted participation is established. Arrow-Debreu model was used to elaborate, to compare, to extend and to emerge for shaping those important finance theories. 4.0 Supporting Theories In this section, the theories that are related to Arrow-Debreu model will be further discussed. Apart from that, in order to let us have a more complete picture about this model, the theories that we displayed previously will also be stated and explained, as well as deliberated further. 4.1 General Equilibrium Theory General equilibrium theory is the core of economic theory. Before the Arrow-Debreu model is established, this theory has been proposed by L. Walras (1874). As reported by Arrow and Debreu (1954), he was the one who first formulated the state of economic system at any point of time as the solution of a system of simultaneous equations representing the demand for goods by consumers, the supply of goods by producers, and the equilibrium condition that supply equal demand on every market. In other words, Walras (1874) is the pioneer who first attempts to model the price for a whole economy. Walras uses mathematics to construct a complete structure of general equilibrium theory. This research has lead to results in contribution to neoclassical economics. However, the mathematics that he used to set up the foundation of this theory was unstable due to the existence of general equilibrium does not solved in a satisfactory manner. Hence, theoretically, if he cannot prove this existence, then this theoretical system will become meaningless. General equilibrium theory is therefore developed and improved by Vilfredo Pareto (1897), John R. Hicks (1939), John Von Neumann (1937), Paul A. Samuelson (1941), Kenneth J. Arrow (1954), Gerard Debreu (1954), Lionel W. McKenzie (1954) and others, which becomes an integral part of economics. 4.2 Fundamental Theorems of Welfare Economics Before the Arrow and Debreu began their famous collaboration, both of them had proved the same theorem which is the Fundamental Theorems of Welfare Economics or First and Second Welfare Theorems. There are two fundamental theorems of welfare economics. The first theorem states that every general equilibrium involves a Pareto efficient allocation of resources under the three assumptions. The three assumptions are if there are no externalities, all agents are price-taker, and prices for each good are known to each agent. While the Pareto efficient named after Vilfredo Pareto (1897), is a type of efficiency that results if one person cannot be made better off without making someone else worse off. The First Welfare Theorem is viewed by many economists as the formalization of Smiths Invisible Hand. As Makowski and Ostroy (1995) stated, it provided a set of sufficient conditions for a price system to efficiently coordinate the economic activity. Besides, this theorem supports the case for non-intervention in ideal conditions. For instance, the outcome is said to be Pareto efficient if we let the markets to do the work. The Second Welfare Theorem says that if preferences are well-behaved (especially convex) then every Pareto efficient allocation can be supported by a general equilibrium set of prices, given a suitable reallocation of the endowment. Referring to Varian (1985), this theorem effectively said that if you think an equilibrium is unfair, just move the endowment of the economy and a different general equilibrium will be obtained. Due to the convexity, the second theorem is stronger than the first theorem. The difference between these two theorems is the second theorem requires existence of general equilibrium from all endowment points, whereas the first theorem required only that if a general equilibrium existed it was efficient. According to Michael A. S. Guth (1994), Arrow (1951) provided a rigorous proof of the connection between competitive equilibrium and Pareto optimal. Gerard Debreu (1951) introduced convex analysis methods into welfare theory and independently proved the same theorems. As a result, these theorems have an important relation to Arrow-Debreu model; the existence of solutions to a competitive equilibrium is finally solved. 4. 3 Theories in relation to the Restriction of General Competitive Equilibrium Previously, the Arrow-Debreu model was used to analyze the restrictions. In order to understand those restrictions in the general competitive equilibrium framework, tracing back those following theories is necessary for us to know how the Arrow-Debreu model was used to be compared and proved other economic theory. 4.3.1 Radner Equilibrium Roy Radner said that the Arrow-Debreu model is not originally put forward for the case of uncertainty, but a powerful device introduced by Arrow (1953), and further elaborated by Debreu (1953), enabled the theory to be reinterpreted to cover the case of uncertainty about the availability of resources and about consumption and production possibilities. Hence, he extends the Arrow-Debreu equilibrium and forms an economic concept-Radner Equilibrium. Radner (1972) is the first who considers the general equilibrium with incomplete markets. He shows that unlike the Arrow-Debreu models, the possibility of trading commodity futures for every contingency is sufficient to enable income transfers across all spots. In addition, the assumption that he made, short-sales of these contracts are limited for every agent, is a driving force in his proof of the existence of a general financial equilibrium. This can be seen as the first attempt to incorporate this idea in their asset market participation. 4.3.2 Concept of Constrained Pareto Optimality Radner Equilibrium, however, is imperfect. Oliver D. Hart (1975) uses some disturbing but perceptive counter-examples to display some of the weaknesses of Radners concept of equilibrium. He showed that existence of such an equilibrium cannot be proved under the standard Arrow-Debreu assumptions. He specified that when the asset returns are price dependent, the market sub-space may not be continuous in the spot prices which may lead to discontinuous demand functions. This reason causes a failure of the existence of Radner equilibrium. In other words, an equilibrium may not be Pareto efficient in the case of incomplete markets which shapes the concept of Constrained Pareto Optimality. 4.4 Limitations of Arrow-Debreu Model Although the Arrow-Debreu model has many influences on either economics or finance, however, there are the limitations. There are three limitations of Arrow-Debreu model. In this model, it excludes the trade in shares of firms because the stock certificate is not an Arrow-Debreu commodity. When the descriptions are so precise that further refinements cannot yield imaginable allocations which increase the satisfaction of the agents in the economy, then the commodities are called Arrow-Debreu commodity. Trading in shares of firms cannot be classified as Arrow-Debreu commodity due to its possession entitles the owner to additional commodity which he need not obtain through exchange. Bankruptcy is not allowed in Arrow-Debreu equilibrium. All agents must meet their budget constraints. In a game theoretic formulation of equilibrium, it is achieved by enforcing an infinite bankruptcy penalty. Since every Arrow-Debreu equilibrium is Pareto efficient, there would be no benefit in reducing the bankruptcy penalty to the point where someone might choose to go bankrupt. Money does not appear in this model. Although the reasons for the existence of money in real life are already taken care of in the Arrow-Debreu model, money does not affect the allocations of commodities. Therefore, there is no point in making the role of money explicit in the Arrow-Debreu model. 5.0 Conclusion In fact, Arrow-Debreu model is not simultaneously created by K.J. Arrow and Gerard Debreu. Debreu is the one who extends further the Arrows pure exchange model in several important ways. Their contribution in formulating Arrow-Debreu model has laid a foundation for economic theory. The application of Arrow-Debreu model emphasizes more on the general competitive equilibrium framework of the economics. From the studies, we notice that most of its application majoring in the financial economics is act as a fundamental theory or economy in shaping the asset pricing model. Other functions like analyzing the market structure, risk and etc, also show that the usefulness of this model. Besides, it is applicable in evaluating the impact of all uncertainties with a general equilibrium structure. The analyzers use a series of mathematical equation to prove their statements. The pioneering contributions of Arrow and Debreu have forever changed the way economic theorists formulate uncertainty models.   After more than forty years of analysis and extensions, their general equilibrium framework and approach continues to be the starting point for new theories on the operation of competitive markets under uncertainty. As a conclusion, it is undeniable that the Arrow-Debreu model had turn on a new leaf in the history of economics. It is the modern concept of general equilibrium in economics which indirectly set up several important theories. Nothing is perfect in this world. Of course, Arrow-Debreu model as well. Some assumptions have to be made. Criticism also may happen. However, those brilliant economists or researchers still can use this model to formulate their own theory and then ends up with a perfect ultimate theory in both economics and finance. Lastly, mistakes, problems, and weaknesses should be pointed out, corrected and improved so that Arrow-Debreu model can be applied and developed effectively.

Comparing Atwood’s The Handmaid’s Tale and Laurences The Fire-Dwellers :: comparison compare contrast essays

Loss of Identity in Margaret Atwood’s The Handmaid’s Tale and  Margaret Laurence's The Fire-Dwellers The protagonists in Margaret Atwood’s The Handmaid’s Tale and Margaret Laurence’s The Fire-Dwellers are very different in character.   However, both of these women lose their identity due to an outside influence.   In each of the books, we see the nature of the lost identity, the circumstances which led to this lost identity, and the consequences which occurred as a result of this lost identity.     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In The Handmaid’s Tale our main character, Offred, has her whole world stolen away by the government of Gilead.   This new society is sexually repressed and is founded by religious extremists.   Women are only used to produce children, and they have no rights at all in the new world of Gilead.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In The Fire Dwellers our main character, Stacey MacAindra, has been thrown into a life of responsibility.   She has an uncommunicative husband who means well, but shows her no love, as well as four children who she feels are being ruined by her every action.   She feels that life has much more to offer than the tediousness of every day routine.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The nature of Offred’s lost identity is very drastic.   Before the new religious group of Gilead took over the world, she was a very normal every day woman.   She did what was expected of her time and continued to do so after the take over.   She had a husband and a daughter who she loved very much.   In the new society in which she lives, however, love is not permitted. â€Å" If   I thought that this would happen again I would die.   But this is wrong, nobody dies from lack of sex.   It’s lack of love we die from.   There’s nobody here I can love, all the people I could love are dead or elsewhere†(page?).   **Are these words spoken by Offred? **   Offred also had the choice of free will before her civilization changed, but then slowly women began to lose all of their rights and were no longer allowed to have jobs or even to use money. â€Å"Sorry, he said. This number is not valid.†Ã‚   â€Å"That’s ridiculous,   I said.   It must be, I’ve got thousands in my account.†Ã‚   â€Å"It’s not valid, he repeated obstinately.   See that red light?   Means it’s not   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   valid,†(p.

Purpose And History Of SWAT Essay -- SWAT team S.W.A.T.

The History and Purpose of S.W.A.T. SWAT. The acronym invokes so many thoughts - danger, fighting crime, shootings, heavily artillery, TV, movies and more. The reality of SWAT is that it is all of that and more. When the acronym is fully expanded it translates to "special weapons and tactics" or as it was originally developed, "special weapons assault team". SWAT is a specialized, elite police unit trained to execute dangerous and specific operations that basic and even intermediate police training is not intended to handle. Commonly, many assume from knowledge gained from TV and movies about SWAT. These assumptions are often skewed because what happens on real missions is not always as entertaining as what is seen on the silver screen. The history, purpose, requirements, training, equipment, and tactics used during missions are all separate and important aspects in understanding SWAT. To completely understand why SWAT teams were developed, one must look at this history of swat, where it began, why it began, and how it progressed to be where modern teams are today. The first SWAT squad was established in Delano, California, where the local department was having difficulties containing the uprisings of local farm workers. This squad was established by training the entire department in crowd control along with sniper and anti-sniper tactics. At the same time, Los Angeles police units were experiencing difficulties in handling situations in which riots and snipers were terrorizing basic police units. In response to these difficulties, LAPD officer John Nelson presented the concept of a squad which was specially trained to handle such situations to Inspector Darryl F. Gates. Gates approved the concept of a "highly disciplined" ... ....). About the SORT Unit. Delaware State Police Special Operations Response Team. Retrieved April 1, 2006. From http://www.state.de.us/dsp/sort.htm. 2. (n.d.). SWAT/Tactical Teams. SWAT/Tactical Teams. Retrieved March 29, 2006. http://www.fema.gov/preparedness/resources/law_enforcement/swat_tactical_teams.htm 3. (n.d.). History of S.W.A.T. Official Website of the Los Angeles Police Department. Retrieved April 3, 2006. http://www.lapdonline.org/metropolitan_division/content_basic_view/849 4. (n.d.). S.W.A.T. Team Ââ€" Overview and History. The Albeline Police Department. Retrieved April 4, 2006. http://www.abilenepolice.com/swat/history.html 5. (n.d.). SWAT. Wickpedia, the free encyclopedia. Retrieved April 5, 2006. From http://en.wikipedia.org/wiki/SWAT 6. (n.d.). SWAT Team. Bay County's Sheriff's Department. Retrieved April 2, 2006. http://www.bayso.org/swat.htm.

The important of unity in Malaysia Essay

Malaysia is a country populated by various ethnic, racial and religion. The success of integrating Malaysia’s various ethnic groups would be established in a united Malaysian society. Thus, the national unity plays an important role in progress of Malaysia. Before the Malaysia successfully achieves independent, our ancestries which come from different background cooperate in order to demand for independent. The result for their unity among them has lead Malaysia as a self- governing country. Hence, we could say that no unity, no Malaysia. Secondly, the occurrence of unity in Malaysia has created a harmony and peaceful society. As we know, Malaysia is a nation which group by diverse culture and religion. If the Malaysia people doesn’t implement with the quality of unity, conflict and quarrel will occur among them and thus the stable of political of Malaysia will be corrupt. The visitors from other countries will be attracted by the unity that shown by the Malaysian peopl e. The visitors would like to identify more closely with the Malaysian culture of various races and religion which can live harmony under one society. The presence of the visitors to Malaysia has led to the development of tourism industry and hence increases the nation income. Another importance of unity in Malaysia is the development of economic. The stable of political in Malaysia due to the unity of Malaysian people will attract the foreign traders to make investment in Malaysia. The attendance of the foreign traders will not only cause the economics of Malaysia to increase, it may also raise the status of economic of Malaysia in the world. As conclusion, unity among the various races is vital for the progress of the nation as the saying goes, ‘United we stand, divided we fall’.

Required Skill-Set and Knowledge of a Successful Policy Analyst in the Ecowas Region Essay

The Policy Process consists of many different and connected parts and is not easily explained theoretically because it involves diverse category of actors; is influenced by experimentation, learning from mistakes, etc; is shaped by discourse and narratives; and is highly political. The policy process focuses on the way that leads to decision making and it has different stages which include, Agenda Setting, Decision Making, Implementation and Monitoring & Evaluation. In short, we can now say that the policy process is the way policy reforms are planned, designed, implemented and evaluated. Explaining the complex policy process requires a policy analyst who is knowledgeable and trained in the field and is able to solve complex policy issues; balance constituents’ need with the political and economic realities of governance; and gather and analyze information to assist in the planning, development, interpretation, and review of government or industrial politics. Gupta, D. K. 2010). A Policy Analyst, also called a researcher or a scholar, is a person who works to raise public awareness of social issues, such as crime prevention, access to health care, and protection of the environment. An analyst in government creates policy and evaluates program effectively and provides decision makers with data and hypotheses about the effects of different policies. Blanchard S. (1997). The Economic Community of West African States (ECOWAS) is a regional group of fifteen countries, founded in 1975. Its mission is to promote economic integration in all fields of economic activity, particularly industry, transport, telecommunications, energy, agriculture, natural resources, commerce, monetary and financial questions, social and cultural matters. The ECOWAS Commission and the ECOWAS Bank for Investment and Development, more often called The Fund are its two main institutions designed to implement policies, pursue a number of program and carry out development projects in Member States. Such projects include intra-community road construction; telecommunications; and agricultural, energy and water resources development. With this background, we now take look at the key roles of the analyst in the policy process and the skills-set and knowledge an analyst should have to be successful in the ECOWAS Region. To attain the desired aim or result as an analyst can be very challenging when thinking about the potential applications and repercussions of a policy. To succeed in the policy analysis career, one must be on top of logical reasoning and have an intimate knowledge of the legal and political systems in the nation or institution of work, along with an understanding of social attitudes that can influence policy. To identify and prioritize policy issues; clarify government policy objectives; identify potential conflicts in terms of objectives and interests; identify current policies and their consequences; identify alternative viable policy instruments, their probable direct and indirect consequences and the risk that these may not materialize; develop criteria and indicators to assess progress towards objectives; design viable policy packages, with associated strategies to obtain political support and to ensure organizational effectiveness; advocate viable policy packages in a clear, brief and persuasive way; review government policies and design viable policy packages; and help policy makers take appropriate decisions on sensitive issues. These are the things a policy analyst does. Blanchard S. (2007). Principally, policy analyst in decision making process should be cognizance of administrative rules, procedures and routines which characterizes the public in action. You should posses a superior application of rationality both in decision (policy) and implementing decisions (administration), have a claim and more rigorous methods of investigation, and effective regard for efficient means of operation. Decision making in the policy process as an analyst in the ECOWAS Region is indeed cardinal to sustain socio-political and economic stability. An analyst should understand and draw distinctions between management and policy making, define stages of government activities (decision making), implement those decisions and evaluate the outcome. This analyst must frequently and simplistically offer a solution to what is said to be the â€Å"central problem of bureaucratic inadequacy†, Should be knowledgeable in program budgeting to relate expenditure budgeting to define goals and outputs, again with the intention of controlling the cost of achieving set objectives. Another essential tool a policy analyst should posses in decision making in the ECOWAS Region is necessary and sufficient information in public policy making; information is frequently inadequate and simply not available, yet there is constrained supplied by time and events. Chooses between competing objectives can be rationally determined on the basis of accurate formulation of knowledge. A major problem for rational method is the reliance upon knowledge which is quantifiable. According to Lord William Beveridge (1942) â€Å"reason and special knowledge have the chance only if there is a channel of access to those who have power†. Implementation in the policy process is a crucial business of translating decisions into events: of getting done. The policy analyst can at least agree that getting things done, or implementation, is a crucial aspect of the real world of public policy making, and one which has been neglected in theoretical literature. Implementation relates to specified objectives, the translation into practice of the policy emerge from the complex process of decision making. As a policy analyst, management of state policies might be of universal interest, which makes more essential a proper scrutiny of the claims of managerialism. Policy scientist is likely, skeptical of how much effect management can have on the success of public policies. As a policy analyst, Christopher Hood once said, â€Å"real administration give an account of real organizational life† and thus summarize his model as follows: 1. An administrative system should be unitary, with a single line of authority; 2. Objective must be given, uniform, explicit, and known throughout the system; 3. Clear and authoritative objective must still be implemented, to achieve this, the system must ensure either perfect obedience or perfect control: there must be perfect information and communication, with all task unambiguously specified and precisely coordinated; all these conditions require an adequate time scare for fulfillment. In public organizations, no meaningful distinction between policy and administration is possible, and policies roposed and authorized by former political institutions and participants are in a wide variety of ways influence, mediated, and even altered by formal administrative institutions and participants at both higher and lower levels. (Hood calls this, in the implementation stage, knocking off the corners to get policy through the front door). The problem of policy making might be clearly define of what is involve in good management which was further demonstrated by the reference to the question of information. Hood’s model says that information must be accurate and must be communicated. Clearly, it is essential for governments to estimate results, to measure these results, and learn from them. Evaluation is feedback, and technically such feedback operates as a self adjusting mechanism, alternatively, evaluation might generate more data on which the policy analyst base on to improve population of best future policies. Major problem arise with the nature of political leadership and organizational behavior. Political leaders will not be anxious to have too critical an examination of their failure; this will be particularly so if, as with many economic plans in states, political leaders have never intended implementation but sought only the easier fruits of political rhetoric. We need to understand as analyst operating in a complex environment that evaluation is not merely a technical matter, nor even a question of good practice, it is, or maybe a highly political issue. We are always, therefore, likely to find that an absence of evaluation contributes further to the uncertainties an unsystematic nature of politics, and in its analysis, the uncertainty principle might be given great regard. One significant effect is to widen the gap which exists between theory and practice. This gap is created in a variety of ways. The most obvious problem is the absence of real political or administrative experience in those who teach and theorize about public policy. This the analyst partly explains to remoteness of theory from the real world policy. Some policy analyst would quite deliberately avoid any involvement in the real world of policy on the ground that this might impose upon their unwanted intellectual constrictions, as well as quite practical constrains. As an analyst, it not difficult to understand this tension between academic and practitioners, each threatens to interfere with the activities of other. The theorist wishes to distance itself intellectually from the real policy world to avoid the ideological contamination which inevitably comes from actual participation in an area of policy. The practitioner tends to avoid over exposure to a wide range of ideas. Finally, policy analysis is synonymous with creativity, and with defining problems rather than offering handy solutions, policy analysis the more creative calculations concern finding problems for which solutions might be attempted. To be a successful policy analyst in the ECOWAS Region, you must be able to manage time, be able to think clearly and practically, be able to combine/structure ideas to form theories for research, must be dependable when it comes to creating frameworks for quantitative and qualitative data analysis, and must have good verbal and writing skills. In short, you must be able to work hard, plan, communicate, do critical readings and suggestions, be logical and have research skills. Have a perception and sense of the region, you must know the political geography and national boundaries, have geographic perspectives on democracy and elections, must be knowledgeable on geography and migration analysis, population policies and issues, and must be able to analyze the sustainable urban development and transportation of West Africa to bring sustained economic growth and democracy to the region.