Tuesday, December 31, 2019
Simply put, algebra is about finding the unknown or putting real life variables into equations and then solving them. Unfortunately, many textbooks go straight to the rules, procedures, and formulas, forgetting that these are real life problems being solved and skipping the explanation of algebra at its core: using symbols to represent variables and missing factors in equations and manipulating them in such a way to arrive at a solution. Algebra is aÃ branch of mathematics that substitutes letters for numbers, and an algebraic equation represents a scale where what is done on one side of the scale is also done to the other side of the scale and theÃ numbers act as constants. Algebra can include real numbers, complex numbers, matrices, vectors, and many more forms of mathematic representation. The field of algebra can be further broken into basic concepts known as elementary algebra or the more abstract study of numbers and equations known as abstract algebra, where the former is used in most mathematics, science, economics, medicine, and engineering while the latter is mostly used only in advanced mathematics. Practical Application of Elementary Algebra Elementary algebra is taught in all United States schools beginning between the seventh and ninth grades and continuing well into high school and even college. This subject is widely used in many fields including medicine and accounting, but can also be used for everyday problem solving when it comes to unknown variables in mathematical equations. One such practical use of algebra would be if you were trying to determine how many balloons you started the day with if you sold 37 but still had 13 remaining. The algebraic equation for this problem would be x - 37 13 where the number of balloons you started with is represented by x, the unknown we are trying to solve. The goal in algebra is to find out the unknown and in order toÃ do so in this example, you would manipulate the scale of the equation to isolate x on one side of the scale by adding 37 to both sides, resulting in an equation of x 50 meaning that you started the day with 50 balloons if you had 13 after selling 37 of them. Why Algebra Matters Even if you dont think youll need algebra outside of the hallowed halls of your average high school, managing budgets, paying bills, and even determining health care costs and planning for future investments will require a basic understanding of algebra. Along with developing critical thinking, specifically logic, patterns, problem-solving, deductive and inductive reasoning, understanding the core concepts of algebra can help individuals better handle complex problems involving numbers, especially as they enter the workplace where real life scenarios of unknown variables related to expenses and profits require employees to use algebraic equations to determine the missing factors. Ultimately, the more a person knows about math, the greater the opportunity for that individual to succeed in the engineering, actuary, physics, programming, or any other tech-related field, and algebra and other higher maths are typically required courses for entrance to most colleges and universities.
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Monday, December 23, 2019
a. The Australian banking industry resembles an oligopoly with a few players playing a key part. This is evident from the share of top 5 banks in total housing loans standing at almost 73%, and it has risen over time from 60%. This shows that loans are more concentrated with top 5 banks now. The global financial crisis has led to a more concentrated market with lesser competition , lesser number of banks with housing loans and a consequent increase in share of total housing loans with the top 5 banks mentioned in the article. Experts point out that, Ã¢â¬ËThe pricing power of the four major banks reflects the strength of their brands and their dominant market positions. The big banks charge more for loans and less for deposits than smaller banks, hence their average interest margin is 2.2 per cent, compared with the 1.8 per cent margin of the regional banks.Ã¢â¬â¢ More evidence comes from a PWC report that states thatÃ¢â¬â¢ concentration levels have increased since the onset of GFCÃ¢â¬â¢. The rise in HHI is proof of rising oligopolistic tendencies in this sector after 2008. b. A cartel is an example of collusive oligopoly- OPEC is a real life example. collusion will imply that all firms operate as a monopoly, leading to a price of Po and quantity Qo as shown. This is found where MR= MC. Firms make abnormal profits that are sustainable in long run. As compared to perfect competition Qc Qo and price is lower at Pc. Competition reduces the deadweight loss or loss of economicShow MoreRelatedBank of China: Chinese Central Bank861 Words Ã |Ã 4 PagesChinese central bank, international exchange bank and specialised international trade bank. Fulfilling its commitment to serving the public and developing Chinas financial services sector, the Bank rose to a leading position in the Chinese financial industry and developed a good standing in the international financial community. In 1994, the Bank was transformed into a wholly state-owned commercial bank. In August 2004, Bank of China Limited was incorporated. The Bank was listed on the Hong Kong StockRead MoreThe Impact Of Technology On The Financial System1478 Words Ã |Ã 6 Pagessophistication of cyber security threats that has resulted in the rise in cybercrime not just in a technologically driven country like Australia but worldwide. AustraliaÃ¢â¬â¢s financial industry has been referred to as one of the largest and highest-performing industries in the country, and according to the Australian Institute of Criminology, it also is one of the Ã¢â¬Å"more sophisticated users of information and communications technologiesÃ¢â¬ (Austrade, 2009). The financial industryÃ¢â¬â¢s increasing dependenceRead MoreWestpac Pestel Analysis+Recommendation740 Words Ã |Ã 3 Pageslaws supervising the banking system in Australia. In this paper, we focus on one important and famous regulation: Ã¢â¬Ëfour pillarsÃ¢â¬â¢ policy. Basically, the Ã¢â¬Ëfour pillarÃ¢â¬â¢ is a specific Australian policy to maintain the separation of Ã¢â¬Ëbig fourÃ¢â¬â¢ banks including Westpac and to prevent any merge and acquisition among these four banks (1997) .In terms of the report from both TUNSTALL (2007) and The Age (2006), the main objective of the policy is to keep the competition of the banking industry. Such the policyRead MoreFactors Affecting The Australian Financial Stocks1594 Words Ã |Ã 7 Pagesfinancial industries. With the development of global economics, the volatility of global stocks market reflects the economic situation across a number of countries. As a result, each nationÃ¢â¬â¢s fluctuation of stocks plays a significant role in its own economy. 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The Westpac Banking Corporation is a major bank in Australia which offers to the bank and financial services. The bank was the first in Australia which started trading in 1817, it offers a wide variety of financial services to it ever growing customers. With the vision and the overall strategy to become the best company in the world, Westpac continues to reach out its customers and the wider communityRead MoreEssay on Risk Management in Banking1021 Words Ã |Ã 5 Pagesof banking industry emerged. The exchange of grain or goods between farmers and merchant were termed trading. Bank is financial intermediaries which accepts deposits from general public and organizations and are engaged in lending activities. In other word, banking business is the business of receiving money from the market through deposits and paying or borrowing the fund to the capital market and general public as well. Banks undertake various financial activities such as investment banking, privateRead MoreCompet ition in the Australian Banking Industry Essay3452 Words Ã |Ã 14 PagesCompetition in the Australian Banking Industry (2006-2012) Table of Contents Title Page ---------------------------------------------------------------------- 1 Table of Contents -------------------------------------------------------------2 Executive Summary ----------------------------------------------------------4 1. Introduction-----------------------------------------------------------------5 1.1 Australian Banking Industry 1.1.1 Major Banks / FourRead MoreThe Commonwealth Bank Of Australia1645 Words Ã |Ã 7 PagesCompany Report Ã¢â¬â Commonwealth Bank This following report is about the Commonwealth Bank of Australia (CBA). The Commonwealth Bank is a public business founded in 1911. This company is owned by the Australian government. The Commonwealth Bank operates within the tertiary business sector. Business Operations The Commonwealth Bank of Australia is an Australian multinational bank with businesses across New Zealand, Fiji, Asia, USA and the United Kingdom. Commonly referred to as the Commonwealth Bank
Posted by Unknown at 10:05 AM
Sunday, December 15, 2019
Qus4. What are the assumptions of MM approach? Ans. Assumption of the MM approach The MM approach to irrelevance of dividend is based on the following assumptions: * The capital markets are perfect and the investors behave rationally. We will write a custom essay sample on Mm Approach or any similar topic only for you Order Now * All information is freely available to all the investors. * There is no transaction cost. * Securities are divisible and can be split into any fraction. No investor can affect the market price. * There are no taxes and no flotation cost. The firm has a defined investment policy and the future profits are known with certainty. The implication is that the investment decisions are unaffected by the dividend decision and the operating cash flows are same no matter which dividend policy is adopted. The model Under the assumptions stated above, MM argue that neither the firm paying dividends nor the shareholders receiving the dividends will be adversely affected by firms paying either too little or too much dividends. They have used the arbitrage process to show that the division of profits between dividends and retained earnings is irrelevant from the point of view of the shareholders. They have shown that given the investment opportunities, a firm will finance these either by ploughing back profits of if pays dividends, then will raise an equal amount of new share capital externally by selling new shares. The amount of dividends paid to existing shareholders will be replaced by new share capital raised externally. In order to satisfy their model, MM has started with the following valuation model. P0= 1* (D1+P1)/ (1+ke) Where, P0 = Ã Ã Ã Ã Present market price of the share Ke = Ã Ã Ã Ã Cost of equity share capital D1 = Ã Ã Ã Expected dividend at the end of year 1 P1 = Ã Ã Ã Ã Expected market price of the share at the end of year 1 With the help of this valuation model we will create a arbitrage process, i. e. , replacement of amount paid as dividend by the issue of fresh capital. The arbitrage process involves two simultaneous actions. With reference to dividend policy the two actions are: * Payment of dividend by the firm * Rising of fresh capital. With the help of arbitrage process, MM have shown that the dividend payment will not have any effect on the value of the firm. Even if the firm pays dividends, resulting in a increase in market value of the share, the effect on the value of the firm will be neutralised by the decrease in terminal value of the share. How to cite Mm Approach, Papers
Posted by Unknown at 6:34 AM
Saturday, December 7, 2019
Question: Discuss about theHigher Education Reform Australia. Answer: Introduction Education is a process in which people are equipped with knowledge; it is a basic requirement for all economies. Education has a great influence on the nations economic performance. For instance it is the major factor behind the employment of workers in an economy; employment is done only to those who possess certain skill; those without are disregarded. Over the years, development were experienced until schools were established. The primary school education is basic to every Australian child; the Australian government has established many public schools to facilitate the accessibility of children to schools. It has also provided free primary education to ensure equality in the acquisition of education. The secondary schools is the subsequent stage followed by the tertiary education. After completion of secondary education, students proceed to the tertiary institutions where they specialize on the acquisition of specific skills. However, not many students have been able to join tertiary institutions; some of the factors limiting the entrance is poor secondary performance and the high fees payable in these institutions. The government has implemented some educational reforms with an objective to help most students to acquire tertiary education skills (Education.gov.au, 2017). Parents and students will require this information in getting awareness of how tertiary education could be achieved at the lowest cost. It will also help the government in budgeting for the funds set aside as a promoter to achieving higher education. Economic Analysis Zajda and Rust (2017) noted that globalization is a driver for higher education reforms. The access to tertiary education has been on a limited number of students. In order for the government to raise the number of students who join tertiary education, it has proposed reforms to cut the payable fees. According to Croucher (2017), the Higher Education Participation and Partnerships Program (HEPPP) is part of the ongoing legislating initiative reform with an objective of promoting equity and accessibility in universities. The government has always offered support in paying some proportion of the school fees the university students are required to pay; this was to help as many students to attain the higher education at a lower cost. However, the number of university enrolment in Australian universities have gone down and thus need for more reforms to stimulate the enrolment. According to Doyle (2017), the pre-budget announcement was made by Simon Birmingham the Australian education mini ster in 2017. It propose an increase in university fees by 1.8% per year for the period between 2018 and 2021. Bexley (2017) noted that in overall this increase will be 7.5% and will raise the students fees by $2,000 to $3,600 for the four year course. The concept of demand and supply is applicable in this case analysis; by paying a larger proportion of school fees for the student, the government is only able to support a limited number of students. The reform proposed is to lower the proportion of school fees payable by the government; the surplus after the reduction would be used to fund more students and the enrolment rate would rise. The proposal requires that the student will pay a higher school fees if passed. There however exist a challenge in implementing this reform since there are many parties that are against it. Most importantly, the university students are not willing to accept any increase in their school fees as a support to promoting the reform. The analysis from Deloitte shows that there has been a 9.5% increase in the cost of providing university education as from 2011 to 2015 (Croucher, 2017). If the funding by the government was cut, the amount of money expected to be relieved for other students as at 2019 is pr ojected to be $380 million. The speculation of fees increase due to the increased teaching costs is 25%, but the proposed reduction in governments funding is 20%. The proposal to cut the funding has been in place since 2014. The idea has been criticized since then and thats the major reason why it has not yet been implemented. Massaro (2016) forecasted a reduced proportion of government expenditure from 0.5 to 0.4% of its total GDP. The budget has been rising every year since 2002 and is projected to continue rising. Its not clear whether this reduction will improve the higher education. Hare (2017) noted that the cut in funding will be performance-based. Recommendations The government should raise its budget on education expenditure as it is an important component of economic growth. The government could also invest in improving the information asymmetry in the labor market. This would help in ensuring that the university graduates do not take long before getting a job. This would facilitate the fast payment of the higher education debts; when these debts are payable, they are made available for funding the enrollment of other students. The government should analyze the impact of this reform implementation on both the present and the future students. It should consider whether the reform would increase or reduce affordability. Some students may enroll and end up failing to complete their studies owing to the rising school fees. Conclusion The government pays a big proportion of the school fees payable to the public universities. This is a good step to promoting higher education. Nevertheless, the cost of education provision has gone up and thus a need to raise the school fees. The government is also concerned by the fact that enrollment in universities has been lower and need to be improved. However, the government is faced by a budget constraint in the stimulation of this enrollment. It therefore means that the governments budget on higher education is insufficient and need to be raised. It is not easy for this proposal reform to be passed it is being argued to create inefficiency. It is not clear whether the cutting of government funding will be able to boost the enrollment in universities since some people may decide to avoid the increased fees by failing to enroll. Some graduates take long before they land into their first job which delays the payment of their debt obligations. References Bexley, E. (2017). Higher education reform: small changes for now but big ones to come. [Online] The Conversation. Available at: https://theconversation.com/higher-education-reform-small-changes-for-now-but-big-ones-to-come-76978 [Accessed 13 Aug. 2017]. Croucher, G. (2017). 2017 higher education reform: cuts to universities, higher fees for students. [Online] The Conversation. Available at: https://theconversation.com/2017-higher-education-reform-cuts-to-universities-higher-fees-for-students-63185 [Accessed 13 Aug. 2017]. Doyle, J. (2017). Students set to face higher uni fees under Government shake-up. [Online] ABC News. Available at: https://www.abc.net.au/news/2017-05-01/university-fees-to-rise-in-federal-government-education-shake-up/8487564 [Accessed 13 Aug. 2017]. Education.gov.au. (2017). Higher Education Reform Package. [Online] Available at: https://www.education.gov.au/higher-education-reform-package-0 [Accessed 13 Aug. 2017]. Hare, J. (2017). Universities attack Birminghams higher education reform package. [Online] Theaustralian.com.au. Available at: https://www.theaustralian.com.au/higher-education/universities-attack-birminghams-higher-education-reform-package/news-story/614c9910b336ebefe31822265dda79fe [Accessed 13 Aug. 2017]. Hill, J. (2017). Australian Education Budget May 2017. [Online] Towards the Final Hour. Available at: https://towardsthefinalhour.com/2017/05/australian-education-budget-may-2017/ [Accessed 13 Aug. 2017]. Massaro, V. (2017). Higher education reform needs to have vision and be affordable. [Online] Theaustralian.com.au. Available at: https://www.theaustralian.com.au/higher-education/higher-education-reform-needs-to-have-vision-and-be-affordable/news-story/de4ecf1f9cee428d1591aa421fa897de [Accessed 13 Aug. 2017]. Zajda, J. and Rust, V. (2016). Globalization and higher education reforms. Switzerland: Springer.
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