Free Essay

Asef

In:

Submitted By asef
Words 2581
Pages 11
Elton, Gruber, Brown, and Goetzmann Modern Portfolio Theory and Investment Analysis, 7th Edition Solutions to Text Problems: Chapter 1

Chapter 1: Problem 1 A. Opportunity Set

With one dollar, you can buy 500 red hots and no rock candies (point A), or 100 rock candies and no red hots (point B), or any combination of red hots and rock candies (any point along the opportunity set line AB).

then:

Algebraically, if X = quantity of red hots and Y = quantity of rock candies,
0.2 X + 1Y = 100

That is, the money spent on candies, where red hots sell for 0.2 cents a piece and rock candy sells for 1 cent a piece, cannot exceed 100 cents ($1.00). Solving the above equation for X gives:

X = 500 − 5Y which is the equation of a straight line, with an intercept of 500 and a slope of −5.

Elton, Gruber, Brown, and Goetzmann Modern Portfolio Theory and Investment Analysis, 7th Edition Solutions to Text Problems: Chapter 1

1-1

B.

Indifference Map

Below is one indifference map. The indifference curves up and to the right indicate greater happiness, since these curves indicate more consumption from both candies. Each curve is negatively sloped, indicating a preference of more to less, and each curve is convex, indicating that the rate of exchange of red hots for rock candies decreases as more and more rock candies are consumed. Note that the exact slopes of the indifference curves in the indifference map will depend an the individual’s utility function and may differ among students.

Chapter 1: Problem 2 A. Opportunity Set

The individual can consume everything at time 2 and nothing at time 1, which, assuming a riskless lending rate of 10%, gives the maximum time-2 consumption amount: $20 + $20 × (1 + 0.1) = $42. Instead, the individual can consume everything at time 1 and nothing at time 2, which, assuming a riskless borrowing rate of 10%, gives the maximum time1 consumption amount: $20 + $20 ÷ (1 + 0.1) = $38.18

Elton, Gruber, Brown, and Goetzmann Modern Portfolio Theory and Investment Analysis, 7th Edition Solutions to Text Problems: Chapter 1

1-2

The individual can also choose any consumption pattern along the line AB (the opportunity set) below.

The opportunity set line can be determined as follows. Consumption at time 2 is equal to the amount of money available in time 2, which is the income earned at time 2, $20, plus the amount earned at time 2 from any money invested at time 1, ($20 − C1) × (1 + 0.1): C2 = $20 + ($20 − C1) × (1.1) or C2 = $42 − 1.1C1 which is the equation of a straight line with an intercept of $42 and a slope of −1.1.

B.

Indifference Map We are given that the utility function of the individual is:

U(C1 , C 2 ) = 1 + C1 + C 2 +

C1C 2 50

A particular indifference curve can be traced by setting U(C1,C2) equal to a constant and then varying C1 and C2. By changing the constant, we can trace out other indifference curves. For example, by setting U(C1,C2) equal to 50 we get: CC 1 + C1 + C 2 + 1 2 = 50 or 50C1 + 50C 2 + C1C 2 = 2450 50

Elton, Gruber, Brown, and Goetzmann Modern Portfolio Theory and Investment Analysis, 7th Edition Solutions to Text Problems: Chapter 1

1-3

This indifference curve appears in the graph of the indifference map below as the curve labeled “50” (the lowest curve shown). By setting U(C1,C2) equal to 60, we get the curve labeled “60,” etc.

C.

Solution

The optimum solution is where the opportunity set is tangent to the highest possible indifference curve (the point labeled “E” in the following graph).

This problem is meant to be solved graphically. Below, we show an analytical solution: CC U(C1 , C 2 ) = 1 + C1 + C 2 + 1 2 50 Substituting the equation of the opportunity set given in part A for C2 in the above equation gives: 42C1 − 1.1C1 U(C1 , C 2 ) = 1 + C1 + 42 − 1.1C1 + 50 To maximize the utility function, we take the derivative of U with respect to C1 and set it equal to zero: dU 42 2.2C1 = 1 − 1.1 + − =0 dC1 50 50 which gives C1 = $16.82. Substituting $16.82 for C1 in the equation of the opportunity set given in part A gives C2 = $23.50.
2

Elton, Gruber, Brown, and Goetzmann Modern Portfolio Theory and Investment Analysis, 7th Edition Solutions to Text Problems: Chapter 1

1-4

Chapter 1: Problem 3 If you consume nothing at time 1 and instead invest all of your time-1 income at a riskless rate of 10%, then at time 2 you will be able to consume all of your time-2 income plus the proceeds earned from your investment: $5,000 + $5,000 (1.1) = $10,500. If you consume nothing at time 2 and instead borrow at time 1 the present value of your time-2 income at a riskless rate of 10%, then at time 1 you will be able to consume all of the borrowed proceeds plus your time-1 income: $5,000 + $5,000 ÷ (1.1) = $9,545.45 All other possible optimal consumption patterns of time 1 and time 2 consumption appear on a straight line (the opportunity set) with an intercept of $10,500 and a slope of −1.1: C2 = $5,000 + ($5,000 − C1) × (1.1) = $10,500 − 1.1C1

Chapter 1: Problem 4 If you consume nothing at time 1 and instead invest all of your wealth plus your time-1 income at a riskless rate of 5%, then at time 2 you will be able to consume all of your time-2 income plus the proceeds earned from your investment: $20,000 + ($20,000 + $50,000)(1.05) = $93,500.

Elton, Gruber, Brown, and Goetzmann Modern Portfolio Theory and Investment Analysis, 7th Edition Solutions to Text Problems: Chapter 1

1-5

If you consume nothing at time 2 and instead borrow at time 1 the present value of your time-2 income at a riskless rate of 5%, then at time 1 you will be able to consume all of the borrowed proceeds plus your time-1 income and your wealth: $20,000 + $50,000 + $20,000 ÷ (1.05) = $89,047.62 All other possible optimal consumption patterns of time-1 and time-2 consumption appear on a straight line (the opportunity set) with an intercept of $93,500 and a slope of −1.05: C2 = $20,000 + ($20,000 + $50,000 − C1) × (1.05) = $93,500 − 1.05C1

Chapter 1: Problem 5 With Job 1 you can consume $30 + $50 (1.05) = $82.50 at time 2 and nothing at time 1, $50 + $30 ÷ (1.05) = $78.60 at time 1 and nothing at time 2, or any consumption pattern of time 1 and time 2 consumption shown along the line AB: C2 = $82.50 − 1.05C1. With Job 2 you can consume $40 + $40 (1.05) = $82.00 at time 2 and nothing at time 1, $40 + $40 ÷ (1.05) = $78.10 at time 1 and nothing at time 2, or any consumption pattern of time 1 and time 2 consumption shown along the line CD: C2 = $82.00 − 1.05C1.

The individual should select Job 1, since the opportunity set associated with it (line AB) dominates the opportunity set of Job 2 (line CD).
Elton, Gruber, Brown, and Goetzmann Modern Portfolio Theory and Investment Analysis, 7th Edition Solutions to Text Problems: Chapter 1

1-6

Chapter 1: Problem 6 With an interest rate of 10% and income at both time 1 and time 2 of $5,000, the opportunity set is given by the line AB: C2 = $5,000 + ($5,000 − C1) × (1.1) = $10,500 − 1.1C1 With an interest rate of 20% and income at both time 1 and time 2 of $5,000, the opportunity set is given by the line CD: C2 = $5,000 + ($5,000 − C1) × (1.2) = $11,000 − 1.2C1

Lines AB and CD intersect at point E (where C2 = time-2 income = $5,000 and C1 = time-1 income = $5,000). Along either line above point E, the individual is lending (consuming less at time 1 than the income earned at time 1); along either line below point E, the individual is borrowing (consuming more at time 1 than the income earned at time 1). Since the individual can only lend at 10% and must borrow at 20%, the individual’s opportunity set is given by line segments AE and ED.

Chapter 1: Problem 7 For P = 50, this is simply a plot of the function C 2 = 50 − C1 . 1 + C1 100 − C1 . 1 + C1 1-7

For P = 100, this is simply a plot of the function C 2 =

Elton, Gruber, Brown, and Goetzmann Modern Portfolio Theory and Investment Analysis, 7th Edition Solutions to Text Problems: Chapter 1

Chapter 1: Problem 8 This problem is analogous to Problem 2. We present the analytical solution below. The problem could be solved graphically, as in Problem 2. From Problem 3, the opportunity set is C2 = $10,500 − 1.1C1. Substituting this equation into the preference function P = C1 + C2 + C1 C2 yields: 2 P = C1 + $10,500 − 1.1C1 + $10,500C1 − 1.1C1 dP = 1 − 1.1 + $10,500 − 2.2C1 = 0 dC1 C1 = $4,772.68 C2 = $5,250.05 Chapter 1: Problem 9 Let X = the number of pizza slices, and let Y = the number of hamburgers. Then, if pizza slices are $2 each, hamburgers are $2.50 each, and you have $10, your opportunity set is given algebraically by $2X + $2.50Y = $10 Solving the above equation for X gives X = 5 − 1.25Y, which is the equation for a straight line with an intercept of 5 and a slope of −1.25. Graphically, the opportunity set appears as follows:

Assuming you like both pizza and hamburgers, your indifference curves will be negatively sloped, and you will be better off on an indifference curve to the right of another indifference curve. Assuming diminishing marginal rate of substitution between pizza slices and hamburgers (the lower the number of hamburgers you have, the more pizza slices you need to give up one more burger without changing your level of satisfaction), your indifference curves will also be convex.
Elton, Gruber, Brown, and Goetzmann Modern Portfolio Theory and Investment Analysis, 7th Edition Solutions to Text Problems: Chapter 1

1-8

A typical family of indifference curves appears below. Although you would rather be on an indifference curve as far to the right as possible, you are constrained by your $10 budget to be on an indifference curve that is on or to the left of the opportunity set. Therefore, your optimal choice is the combination of pizza slices and hamburgers that is represented by the point where your indifference curve is just tangent to the opportunity set (point A below).

Chapter 1: Problem 10 If you consume C1 at time 1 and invest (lend) the rest of your time-1 income at 5%, your time-2 consumption (C2) will be $50 from your time-2 income plus ($50 − C1)(1.05) from your investment. Algebraically, the opportunity set is thus C2 = 50 + (50 - C1)(1.05) = 102.50 - 1.05C1 If C1 is 0 (no time-1 consumption), then from the above equation C2 will be $102.50. If C2 is 0, then C1 will be $97.62. Graphically, the opportunity set appears below, along with a typical family of indifference curves.

Elton, Gruber, Brown, and Goetzmann Modern Portfolio Theory and Investment Analysis, 7th Edition Solutions to Text Problems: Chapter 1

1-9

Chapter 1: Problem 11 If you consume C1 at time 1 and invest (lend) the rest of your time-1 income at 20%, your time-2 consumption (C2) will be $10,000 from your time-2 income plus $10,000 from your inheritance plus ($10,000 - C1)(1.20) from your investment. The opportunity set is thus C2 = $10,000 + $10,000 + ($10,000 - C1)(1.20) = $32,000 - 1.2C1 If C2 is 0 (no time-2 consumption), then you can borrow the present value of your time-2 income and your time-2 inheritance and spend that amount along with your time-1 income on time-1 consumption. Solving the above equation for C1 when C2 is 0 gives C1 = $26,666.67, which is the maximum that can be consumed at time 1. Similarly, if C1 is 0 (no time-1 consumption), then you can invest all of your time-1 income at 20% and spend the future value of your time-1 income plus your time-2 income and inheritance on time-2 consumption. From the above equation, C2 will be $32,000 when C1 is 0, which is the maximum that can be consumed at time 2. Chapter 1: Problem 12 If you consume nothing at time 2, then you can borrow the present value of your time-2 income for consumption at time 1. If the borrowing rate is 10% and your time-2 income is $100, then the present value (at time 1) of your time-2 income is $100/(1.1) = $90.91. You can borrow this amount and spend it along with your time- income of $100 on time-1 consumption. So the maximum you can consume at time 1 is $90.91 + $100 = $190.91. If you consume nothing at time 1 and instead invest all of your time-1 income of $100 at the lending rate of 5%, the future value (in period 2) of your period 1 income will be $100(1.05) = $105. You can then spend that amount along with your time 2 income of $100 on time-2 consumption. So the maximum you can consume at time 2 is $105 + $100 = $205. With two different interest rates, we have two separate equations for opportunity sets: one for borrowers and one for lenders. If you only consume some of your time 1 income at time 1 and invest the rest at 5%, you have the following opportunity set: C2 = 100 + (100 - C1)(1.05) = 205 1.05C1. If you only consume some of your time-2 income at time 2 and borrow the present value of the rest at 10% for consumption at time 1, your opportunity set is: C1 = 100 + (100 - C2)/(1.1) = 190.91 - C2/1.1,or, solving the equation for C2, C2 = 210 - 1.1C1

Elton, Gruber, Brown, and Goetzmann Modern Portfolio Theory and Investment Analysis, 7th Edition Solutions to Text Problems: Chapter 1

1-10

Graphically, the two lines appear as follows:

The lines intersect at point E (which represents your income endowment for times 1 and 2). Moving along the lines above point E represents lending (investing some time-1 income); moving along the lines below point E represents borrowing (spending more than your time-1 income on time-1 consumption). Since you can only lend at 5%, line segment AE represents your opportunity set if you choose to lend. Since you must borrow at 10%, line segment ED represents your opportunity set if you choose to borrow. So your total opportunity set is represented by AED.

Elton, Gruber, Brown, and Goetzmann Modern Portfolio Theory and Investment Analysis, 7th Edition Solutions to Text Problems: Chapter 1

1-11

Similar Documents

Premium Essay

The Kite Runner

...you in more ways than are even imaginable. Amir, a timid boy with no inner armor holding him down, now had become scared and angry and he never forgave himself for that one life changing event. Hassan, too, has unfortunate events happen to him and like Amir, Hassan is never quite the same after these events. First, Hassan was born to Ali instead of his proper father so he was set to live the poor life of a Hazara, trapped as a servant to Amir and Amir’s father. Hassan’s loyalty to Amir, as a servant and best friend, was tested when Asef, the school bully, cornered the two boys. Amir and Hassan escaped with Hassan’s skill with a slingshot, and the embarrassed Asef swore to get back at Hassan. Asef saw his chance one day when Hassan went kite running for Amir’s championship winning kite. Hassan, cornered by Asef, refused to give the kite to Hassan and his gang, acting out of loyalty and love for Amir. Asef’s two friends held Hassan down and Asef brutally raped Hassan. From the moment that Hassan put himself in danger for Amir and Amir was too afraid to do the right thing, Hassan and Amir’s friendship slowly but surely came to a doomed end. As if such an event isn’t enough Hassan had another unlucky day when his supposed best friend framed him as a thief, forcing Hassan...

Words: 501 - Pages: 3

Premium Essay

Kite Runner - Essay

...In life, there is always a way to be good again because no matter what happens you can always redeem yourself. This statement is especially true for the novel “The Kite Runner” by Khaled Hosseini. In the novel the main character is a Pashtun boy named Amir who is the son of a wealthy father and a Hazara boy named Hassan who is the son of a poor father. Hassan and his father Ali are the servents to Hassan and his father Baba located in Afghanastan. In a land where reputation is like a gun which is aimed at you at all times Amir is constantly reminded of how poorly Hazara’s are treated throughout the novel. Amir and Hassan are no exception to the problems in Afghan society and this is seen through Amir’s treatment and jeasolousy of Hassan. Throughout the entire novel all Amir wanted was his fathers love and attenetion but he realized that he had to constantly live up to his fathers expectations in order to gain it. Amir wants to be the only person in his fathers life but instead he has to share the spotlight with Hassan as well who Amir claims is just a “Hazara boy”. Amir feels guilty in many situations because Hassan always takes the blame for Amir’s actions and always shows love and dedication to Amir even in the face of danger. One such incident where Hassan was in the face of danger and even death was right after Amir and Hassan won the kite fighting championship. Hassan being Amirs servent decides to “run the kite” which means to get the kite that was cut and return it to Amir...

Words: 1079 - Pages: 5

Free Essay

Makalah Intrapreneurship

...INTRAPRENEURSHIP TUGAS MATA KULIAH ENTREPRENEURSHIP 1 OLEH: TRI RETNO KURNIAWATI 1201130306 MBTI-37-08 MANAJEMEN BISNIS TELEKOMUNIKASI DAN INFORMATIKA FAKULTAS EKONOMI DAN BISNIS UNIVERSITAS TELKOM BANDUNG 2015 BAB I PENDAHULUAN 1. Latar Belakang Beberapa tahun terakhir ini, kata entrepreneurship menjadi perbincangan dikalangan perguruan tinggi. Hal ini tidak terlepas dari adanya fenomena banyaknya lulusan perguruan tinggi yang menganggur, karena jumlah lulusan tidak sebanding dengan adanya lapangan kerja yang tersedia. Kondisi ini mendorong para praktisi pendidikan di perguruan tinggi untuk melakukan reorientasi terhadap lulusannya yang dinilai semata-mata disiapkan sebagai pencari kerja, bukan pencipta kerja. Intrapreneurship merupakan jembatan yang menghubungkan jurang ilmu pengetahuan dan pasar. Perusahaan yang sedang berjalan memiliki modal, sumbersumber, tenaga kerja terampil , marketing, distribusi yang sudah berhasil. Kemudian didalam struktur birokrasinya seringkali tidak berkembang kreativitas sehingga tidak muncul produk baru dan cara cara baru dalam berproduksi. Oleh sebab itu perusahaan mencoba mengizinkan dan mengembangkan semangat wirausaha dalam berorganisasi. Akhirnya berkembang semangat intrapreneurship  dan berkembang menjadi perusahaan besar. 2. Rumusan Masalah Dari latar belakang diatas, adapun rumusan masalah sebagai...

Words: 2353 - Pages: 10

Premium Essay

The Future of the Middle East

...The Future of the Middle East We often think of the Middle East as a volatile region, but for a time experts saw the region as relatively stable. Entrenched authoritarian regimes were seen as pillars of the region that rested on their coercive apparatus as well as rentierism to maintain their rule. Thus, it came as a shock to experts when the Arab Spring bulldozed regimes that had been in power for as long as forty years. The hope of the Arab Spring was to eradicate the despotic rulers of the Middle East and replace them with democratic institutions. However, this hope has not been realized as civil war, failures of newly democratic institutions and unscathed monarchies continue to plague the region. Still, the Arab Spring is in its infant stage. The outcomes in Egypt, Tunisia, Libya and Syria remain to be seen while it appears that the monarchies of the region are stronger than ever. The future of the Middle East will be divided between the monarchies and the republics. The monarchies will most likely keep the status quo (with the help of the United States) while the republics will shape the future of democracy in the region. While it is impossible to predict the future of the Middle East due to a number of factors including the Arab-Israeli and Kurdish conflicts and the drying of oil wells, most experts on the Middle East would agree with the notion that monarchies will continue to remain unscathed in comparison to their non-monarchical neighbors. However, these same people...

Words: 1545 - Pages: 7

Free Essay

Contemporary Art

...Name of Student: Name of Professor: Course Code: Date: Contemporary Art Thesis statement An analysis of contemporary artwork reveals that there is a strong relationship between contemporary art and everyday life as artists can use them for environmental and political activities. Introduction One question that most people usually ask themselves when asked about the history of arts is whether art can have a history. Yes, art has a long history, older than most if not all individuals currently living on earth. Most people think of it as being timeless because art has remained beautiful and attractive since the Old Stone Age. Individuals enjoy looking at arts for its own sake not knowing that they may have a significant meaning and the knowledge of its context inasmuch as viewers from different generations and cultures may see same artworks and interpret them differently from the previous generations. Most of the art works we see around originate from things of the past. Rarely does an artist come up with an imaginary art from vacuum (Art History, par 1). Most of them usually refer their arts by critiquing the outmoded models, borrowing some traditional techniques and methods, researching the old and forgotten stories as well as building on some timeless themes to enable them obtain new ideas (Par 3). It is very important for us to understand the historical precedent as it guides artists in obtaining context since art began from the caves by the Old Stone Age Homo sapiens...

Words: 1960 - Pages: 8

Free Essay

Communication Challenges & Strategies of Call Center Executives in Bangladesh

...Business Communication Prepared for: Mr. Khandoker Asef Safa Kabir Lecturer School of Business and Economics Prepared by: Name | ID# | Mahtab Hossain Khan | 1321135630 | Abhi Barua | 1410305630 | Rezwanul Islam | 1320502030 | Md Adeel Anjum | 1321311630 | Mohammed Ahsan ul Haque | 1320379030 | Section: 10 Summer 2016 North South University Acknowledgement First of all, we want to thank Almighty God to give us strength to work hard for preparing this report. The report is not only of our own hard works. There are many people who helped us a lot making this thing possible. Special thanks goes to Mr. Khandoker Asef Safa Kabir; without his co-operation and proper guideline, this report couldn’t become complete. We sincerely thank him for his tremendous support. A thanks goes to our course mates, family members, friends and relatives. Their unconditional support inspired us to go beyond our limit and to give our best preparing this report. Last but not the least, we thank those kind people who spent some of their precious time for participating our interview. Their co-operation helped us a lot to conduct the research and made our job very much comfortable. We sincerely thank these people and wish them all the very best. Letter of Transmittal July 30, 2016 Khandoker Asef Safa Kabir Lecturer, School of Business and Economics North South University Dhaka, Bangladesh Dear Mr. Khandoker Asef Safa Kabir, As you commissioned the research report...

Words: 8701 - Pages: 35

Free Essay

Apple vs. Samsung Effects of Globalization

...APPLICATION For CNPCIW Vendor/Bidders List China National Petroleum Corporation International and Watan Oil & Gas Afghanistan Limited. (CNPCIW) June 2012 Application Submission Form NOTE: The application submission shall be presented on the Applicant’s company stationary, in the case of a Joint Venture, on company stationary of the lead partner and stamped by company seal. Date: [08, December, 2012] Reference: Execution of upcoming Services & Supply Projects under CNPCIW, Afghanistan Subject: Application for CNPCIW Vendor/bidder List |To: |CNPCIW | | |Attn: Contracts Office | | |House No. 1029, Street 15 | | |Lane 6, Wazir Akbar Khan | | |Kabul, Afghanistan | Dear Sir/Madam, Being duly authorized to represent and act on behalf of Green Tech Construction & Engineering Co., and having reviewed and fully understood all of the Application requirements and information provided, the undersigned hereby applies for Application to be included on the CNPCIW Vendor List for Works (Contractors). Your organization and its authorized representatives are hereby authorized to conduct any inquiries or investigations to verify the statements, documents, and information submitted in connection with this application, and to...

Words: 938 - Pages: 4

Free Essay

Persian Literature

...Persian literature (Persian: ادبیات فارسی‎) is one of the world's oldest literatures. It spans two-and-a-half millennia, though much of the pre-Islamic material has been lost. Its sources have been within Greater Iran including present-day Iran, Irap and the Caucasus, as well as regions of Central Asia wherethe Persian Language has historically been the national language. For instance, Molana (Rumi), one of Iran's best-loved poets, born in Balkh or Vakhsh (in what is now Afganistan or Tajikistan), wrote in Persian, and lived in Konya, then the capital of the Seljuks. The Ghaznavids conquered large territories in Central and South asia and adopted Persian as their court language. There is thus Persian literature from Iran, Mesopotamia, Azerbaijan, the wider Caucasus,Turkey, western parts of Pakistan, Tajikistan and other parts of Central Asia. Not all this literature is written in Persian, as some consider works written by ethnic Persians in other languages, such as Greek and Arabic, to be included. At the same time, not all literature written in Persian is written by ethnic Persians or Iranians. Particularly, Turkic, Caucasian, and Indic poets and writers have also used the Persian language in the environment of Persianate cultures. Described as one of the great literatures of mankind, Persian literature has its roots in surviving works of Middle Persian and Old Persian, the latter of which date back as far as 522 BCE (the date of the earliest surviving Achaemenid inscription...

Words: 1585 - Pages: 7

Free Essay

Bs with the Bs

...The character I feel is most important is Amir. Amir is the narrator of the story, a story that details his childhood and continues through his lifetime. He starts of being a loving and caring person. He recalls the tragic events of 1975, in which he commits terrible sins against his friend and half brother, Hassan. Amir tells us that he is what he is today because of his sin at the age of twelve. His childhood is one that he struggles with everyday. It is in that sin that he seeks and finds atonement to be good again.  Amir’s character’s success and failures are influenced by his family, especially Rahim Khan, his father Baba, Hassan and Ali. In the begging we see that Amir’s brother Hassan has always stuck up and covered for him no matter how much trouble Hassan knew he would have to face for it. Like in this passage where Amir suggests that Hassan fire walnuts into their neighbor's one eyed German shepard's eye, "I talked Hassan into firing walnuts with his slingshot at the neighbor's one-eyed German shepard. Hassan never wanted to, but if I asked, really asked, he would never deny me. Hassan's father, Ali, used to catch us and get mad . . . ‘yes, father,' Hassan would mumble, looking down at his feet. But he never told on me. Never told that the mirror, like shooting walnuts at the neighbor's dog, was always my idea."(4) From this Amir should believe that Hassan is a good friend but because of Amir's failure to accept Hassan because of his standing in society and more focused...

Words: 1222 - Pages: 5

Premium Essay

Management

...Report on an Analytical Review of Management Course: MGT 210 Prepared For KH.ASEF SAFA KABIR Lecturer North South University School of Business Group Name: MaximuM SynergY Course: MGT 210 Instructor: KH. ASEF SAFA KABIR (KSU) Section: 5 School of Business (B.B.A) North South University Dear Sir, We are glad to inform you that we have formed a group of six members and the following there are the names and IDs of our group members. Name: Mahmudul Reza ID: 1420621030 Name: Ahamad Mostofa Montasir ID: 1330348030 Name: Sazid Ahmed ID: 1410066630 Name: Shithi Samad ID: 1410566630 Name: Tanvir Hossain ID: 1320196030 Name: Lutful Kabir Sadi ID: 1220319030 Letter of Transmittal 09 December, 2014 To KH.ASEF SAFA KABIR Lecturer NSU Business School North South University Plot-15; Block-B;Basundhara,Dhaka Subject: Submission of project report on manager of AL-ARAFAH ISLAMI BANK (AIBL) Dear Sir, With due respect, we would like to submit an exclusive Report on Analytical Review of Management. The report deals with whole activities of General Banking in this Bank. We tried our level best to make the report meaningful and informative....

Words: 4716 - Pages: 19

Premium Essay

Intel

...IBM Case study Introduction Virtualization is one of the most exciting trends in the industry and one that has the potential, over the next few years, to change the model of how IT systems are deployed. But server virtualization will not only change how IT administrators and architects think about servers and system utilization, it is also going to affect the processes and tools used to manage what will certainly become an increasingly dynamic environment. Virtualization has actually been around for some time now, but the technology is still evolving. In fact, the word itself still means different things to different people. In broad terms, however, virtualization is about abstracting one layer of the technology stack from the next layer, like storage from servers or the OS from the applications. Abstracting the different layers, in turn, enables consolidation and better manageability. As a concept, virtualization applies to storage, networks, servers, applications, and access. When you look at storage and networks, the goal of virtualization is to aggregate a set of different devices so the total pool of resources looks and acts like a single entity. For example, you can configure a 40TB storage solution instead of a set of 20 2TB storage devices. But with other components, virtualization acts in the opposite direction, helping you to make a single system appear as though there are multiple systems. The most common example of this is server virtualization, where you...

Words: 1738 - Pages: 7

Premium Essay

Jnlkfnge

...SOC 105 01: RELIGION AND SOCIETY Spring 2015 / Tuesdays and Thursdays 9:35 A.M. – 11:00 A.M. Room: BROWER HALL 203 Instructor: Konstantinos Ardavanis Email: Konstantinos.ardavanis@hofstra.edu Office Hours: Tuesdays 11:00 A.M. – 12:00 P.M. COURSE DESCRIPTION This course is designed to help you learn about the Sociology of Religion, with special attention paid to contemporary issues in religion and society in the United States. This course will set out to explore the various rituals, values, and customs that a society embraces, and through this, find the hidden meaning behind the cultural knowledge that these values, rituals and customs provide. While people use these values, rituals, and customs to interpret the world around them, it will be our job to discuss the implications and unconscious assumptions that these interpretations provide using a number of qualitative and quantitative research methodologies. TEXTS AND READINGS REQUIRED • Sociology of Religion: Contemporary Developments (2nd edition) by Kevin J. Christiano, William H. Swatos Jr., and Peter Kivisto, ISBN 978-0-7425-6111-3 • Additional readings to be posted to Blackboard SUGGESTED • Durkheim, Emile. 1965. Elementary Forms of the Religious Life. New York: Free Press. • Marx, Karl and Frederich Engels. 1978. "The Communist Manifesto" and “the German Ideology,” in The Marx-Engels Reader. Ed. Robert Tucker. New York: W.W. Norton. • Weber, Max. 1958. The Protestant Ethic and the Spirit...

Words: 3279 - Pages: 14

Premium Essay

Asean

...Association of Southeast Asian Nations The Secretariat of ASEAN at Jalan Sisingamangaraja No.70A, South Jakarta, Indonesia. The Association of Southeast Asian Nations,[4] commonly abbreviated ASEAN ( /ˈɑːsi.ɑːn/ ah-see-ahn,[5] rarely /ˈɑːzi.ɑːn/ ah-zee-ahn),[6][7] is a geo-political and economic organization of ten countries located in Southeast Asia, which was formed on 8 August 1967 by Indonesia, Malaysia, the Philippines, Singapore and Thailand.[8] Since then, membership has expanded to include Brunei, Burma (Myanmar), Cambodia, Laos, and Vietnam. Its aims include the acceleration of economic growth, social progress, cultural development among its members, the protection of regional peace and stability, and to provide opportunities for member countries to discuss differences peacefully.[9] ASEAN covers a land area of 4.46 million km², 3% of the total land area of Earth, with a population of approximately 600 million people, 8.8% of the world population. The sea area of ASEAN is about three times larger than its land counterpart. In 2010, its combined nominal GDP had grown to US$1.8 trillion.[10] If ASEAN were a single entity, it would rank as the ninth largest economy in the world. History ASEAN was preceded by an organisation called the Association of Southeast Asia, commonly called ASA, an alliance consisting of the Philippines, Malaysia and Thailand that was formed in 1961. The bloc itself, however, was established on 8 August 1967, when foreign ministers of five...

Words: 8221 - Pages: 33

Free Essay

Information

...International Journal of Sociology and Social Policy 30 Whose Solution is It? Development Ideology and the Work of MicroEntrepreneurs in Caribbean Context by Marina Karides, Florida Atlantic University An economic leader in the Caribbean, the Republic of Trinidad and Tobago has incorporated micro-business development as one of its main strategies to alleviate poverty and unemployment and to spawn economic growth since the late 1980s (ILO 1991, 1998, Ministry of Finance 1996). Although the discovery of natural gas in the early nineties catapulted Trinidad’s economic growth rate to four percent per annum, unemployment and poverty continue to affect a large portion of the population. The majority of the population has not benefited from Trinidad’s economic growth. Thus, the government has attempted to create “a nation of entrepreneurs” in order to relieve some of the inequality that defines the society (Ministry of Trade and Industry 1997). Trinidad’s expansion of micro-enterprise programs reflects an international trend. Endorsed by non-governmental organizations, private financial institutions, international development agencies, including the World Bank, many scholars and development practitioners also view microenterprise assistance as a panacea for Third World poverty (Johnson and Kidder, 1999; Mosley and Hulme, 1998; Dignard and Havet, 1995; Grosh and Somolekae, 1996; Rakowski, 1994). Micro-enterprise development programs generally consist of training in business skills...

Words: 10347 - Pages: 42

Premium Essay

Ship Operation

...FINANCE AND FINANCIAL MARKETS 3,6 Types of financial intermediaries Financial institutions are like most other businesses in that they exist to make a profit and this is maximized by minimizing their costs and maximizing their revenue. Like most firms they can only survive if they design and sell products and services that can meet demand at a reasonable profit level. We now proceed to look at some of the key types of financial institutions that are involved in the process of financial intermediation; that is, the transfer of funds between surplus and deficit agents. We distinguish between deposit-accepting institutions, such as banks and savings institutions, and other types of financial intermediaries, such as insurance companies, mutual funds/unit trusts, pension funds, hedge funds and private equity and the like. 3.7 deposit institution an institution such as a bank or savings institution that accepts cash deposits Deposit institutions Deposit institutions accept deposits from economic agents. These funds become their liabilities which they then on-lend to make direct loans or investments, which become their assets. Deposit-taking institutions aim to make a profit in the way of 'spread income' between the cost of the deposits that they accept and other sources of funding, and the return that they receive on their investment portfolio in the way of loans, equity stakes and other investments. Examples of deposit institutions include commercial banks,...

Words: 13846 - Pages: 56