Memory and its contribution to understanding consumer behavioral Essay

Memory and its contribution to understanding consumer behavioral change. (Psychology in marketplace) - Essay Example (1999) Perception in consumer behaviour is guided by the awareness a consumer has with regards to his market and the products in the market.(Barry, 2010) This awareness comes from how a manufacturer or a producer advertises his/her products, so that the consumer becomes aware of those products, and then from there onwards he starts to demand the product which shall fulfil his needs of a comfortable life. (2009) Memory is one of the important factors in the determination of consumer needs and wants. Memory is shaped by a lot of other aspects which galvanize into one stream and help a consumer recall his desires, needs, and wants, modes of satisfaction, the affordability and finally the motivation to buy. Memory is characterised by all the knowledge the consumer has about a certain product. Obviously, memory is shaped when a consumer attaches himself to a product which fulfils his needs and desires. Therefore, it is pertinent for the producers to produce and market products which remain forever into the consumer’s sub conscious. The sub conscious is what guides the memory, and therefore it is very important to have a totally different, alien but attractive approach towards the marketing of the product, so that the consumer is reminded of the particular product when he goes to shop. Memory can be divided into two aspects: The short term memory and the long term memory. The short term memory is characterised by logos, trademarks, the firm’s name, the products name. Therefore, anything which is catchy may attract the attention of the consumer instantly. The long term memory is what counts for a specific producer in the long run to promote the products. Long term memory needs to be christened and rubbed on constantly by the producer with heavy marketing and advertising. (Flamand, 2010) Red Bull(2008) is a prime example of this. They have gone ahead with massive marketing of their product through

Fixed Income Securities Essay Example for Free

Fixed Income Securities Essay Objectives: This course is intended to analyze the fixed income securities markets and its implications for investments. It will analyze the market characteristics, instruments, selling techniques, pricing and valuation issues, floating rate instruments, risk and return of fixed income securities, portfolio management techniques, term structure modeling, corporate debt and convertibles, bonds with embedded options, sub-national debt analysis, credit risk analysis, and interest rate risk management with swaps, options and futures. The course intends to cover the specific features of the Indian Fixed Income Securities Markets. The course will construct several Excel based techniques to analyze bond cashflows analytics. Course Structure: The course will include lectures, bond cash flows analysis, term paper assignments and class exercises. Contents: Lecture 1: Indian Fixed Income Markets, Institutional Arrangements, Market Participants and Instruments, Investors Perspectives, Market Conventions, Debt Management Monetary policies Lecture 2: Bond Valuation, Time Value of Money, Price and Yield Conventions, Bond Valuation using Yield Curve, Yield return, horizon return; Valuation of Repo Reverse Repo Lecture 3: Valuation of other Bonds: Floating Rate securities, Inflation index bonds, bonds with embedded options Lecture 4: Introduction to Bloomberg, Interpretations of Fixed Income Instruments using Bloomberg Templates, Understanding Market Quotes and Conventions Lecture 5: Corporate Bonds, Valuation, Implications for Rating Migration, Investment Grade and Low Rated Bonds, Valuation of Convertibles Lecture 6 7: Risk Identification in Bonds: Duration, Convexity, and Portfolio Immunization Lecture 8 : Yield Curve Analysis, Par Bootstrapping, Modeling YC using Nelson-Seigel and Spline Methods, Spot Forward rates, , Valuation of STRIPS Lecture 9: Term Structure of Interest Rates theories; Interest Rate Models (Cox-Ingersoll-Ross, Vasicek, HJM Model) Lecture 10: Government Securities Auction, Market Implications, WI Markets, Auction Primary Dealers Lecture 11: Auction Bidding: Game (students play bidding game and trade online in Computer Lab) Lecture 12: Bond Portfolio Construction Management; Bullet, Barbell Ladder Strategies, Construction of Bond Portfolio; Portfolio with Corporate Bonds Lecture 13, 14 15: Interest Rate Derivatives: FRAs, Swaps, Futures, Options, Eurodollar Futures, OIS(Overnight Index Swaps), OIS Trading Arbitrage Lecture 16: Bonds with embedded options, BDT Model(Modeling Interest Rate Tree) Lecture 17: Mortgage-Backed Securities, Prepayments, Option Adjusted Spreads(OAS) Lecture 18: Credit Derivatives, Valuation of Credit Default Swaps, Indian CDS Lecture 19 20: Assignment Discussions Presentations Other handouts: The course will provide several articles in debt and fixed income securities, circulars of RBI and FIMMDA, empirical techniques dealing with bond management, as well as my presentations, excel spreadsheet calculations, valuation templates from Bloomberg as well as web resources. Expectations: My expectation is that students work hard during the course, understand bond mathematics, how Indian bond market works and its implications on fixed income investing as an asset class, and portfolio implications for banks and financial institutions.

Sustainability in the City of Melbourne

Sustainability in the City of Melbourne Introduction The planets environment is warming up and our seas are acidifying at disturbing rates since we consume excessively fossil fuel. Essentially, in the event that we need to illuminate environmental change we should go net zero basically eliminating all greenhouse gas emissions by middle of the century The good news is that there are myriad solutions and innovations to help us tackle climate change.   Energy efficiency, smart urban design and 100% clean technologies, like solar, geothermal, tidal and wind and rapidly displacing fossil fuels. Purpose and justification This approach is a piece of City of Melbournes intend to create techniques to be one of the worlds most green urban communities. Achieving zero net emissions will include; Substantial structural Economic change Policy change in Melbourne to drive an increase in energy efficiency Decrease in use of carbon intensive fuel sources Offsetting any remaining emissions The future vision for the City of Melbourne is of a flourishing and maintainable city that all the while seeks after monetary thriving, social value and ecological quality. A key component of this vision is to urge individuals to live in the city. Through dynamic consolation of private improvement and by giving a focal point of culture and diversion, the City of Melbourne has made an appealing area for Melburnians to live. From an entire of-Melbourne point of view, this vision can possibly help with decreasing general emissions as it evacuates or altogether lessens the requirement for occupants to utilize an engine vehicle for work, amusement or shopping purposes. Objective(s) Become a carbon neutral city Being carbon neutral implies that the net greenhouse gas emissions related with an associations or citys, activities are equivalent to zero. It is accomplished through a blend of measuring and decreasing greenhouse gas discharges and acquiring of carbon offsets. Zero net emissions and carbon neutral are terms that can be utilized reciprocally. Make a striking and sustainable future for the Municipality of Melbourne Through research and technical analysis, City of Melbourne has distinguished proof based needs, which upgrade the measure of emissions reduction and limit cost. Commercial buildings have the biggest potential to decrease emissions. Residential buildings, transport, waste and energy supply are other key divisions where innovatively practical and financially accessible chances to decrease emissions are obvious. Example; For council operations and leadership-Maintain carbon neutrality, reduce greenhouse gas by 10%. Need to review and measure the effectiveness of the emission reducing initiatives annually. Commercial buildings and industry- roughly a 4% increase in energy efficiency per building. City of Melbourne will display case the potential to create positive-energy buildings, which generate more energy than they use. The later will ease opportunities to drive efficiency outcomes through the design, construction and performance of buildings. Moreover, it will also facilitate ways to overcome the barriers currently preventing action to achieve high performing commercial buildings. Residential buildings- launch a long-term target in the implementation plan. City of Melbourne will bring together multiple parties to develop appropriate, reasonable and available solutions for decreasing emissions from peoples homes. Stationary energy supply- 25% of electricity from renewable sources The city will develop a joint connection with different companies to design and deliver an energy management and supply system for the municipality of Melbourne that: Meets the community needs and expectations for energy supply. Is safe and secure. Is managed and delivered economically and environmentally efficiently. Minimises greenhouse gas emissions. Supports Melbourne as a prosperous city and premier business location Responds to future demands, challenges and changes. Transport and freight- Using of low emission transport City of Melbourne will bring together multipleà ¢Ã¢â€š ¬Ã‚ ¨parties to develop solutions enabling people to move easily, safely and comfortably using environmentally sustainable transport, and to ensure the citys private transport network complements the public system. Waste management- decrease waste to landfill per resident Waste separation and collection Implement resource efficiency behaviour change programs targeting residents and the commercial sector. Identify optimum waste separation methodologies for residential and commercial sectors. Waste treatment Work with the Metropolitan Waste Management Group, councils, developers and building owners to develop alternatives to land disposal. Explore waste-to-energy solutions, in partnership with key players and industry. Success criteria Speed of limitation Cost effectiveness Leadership and Visibility Community support and awareness Innovation and Technology Co-benefits Assumptions and constraints Assumptions; Future population Economic growth Constraints; These climate changes will impact business and the broader community. Melbourne is predicted to be significantly affected by warmer temperatures, heat waves and intense storm events. High level project description Significant progress were made by City Of Melbourne in order to become a zero net emissions.   These projects have been realised in year 2003, namely: Queen Victoria Market Solar array installed City of Melbourne replacing old style recycling crates with mobile recycling bins Established the sustainable Melbourne Fund First Victorian Wind Farm Certified carbon neutral for its council Completion of the Swanston Street redevelopment increasing public transport and cycling access High level risks Australia/ City of Melbourne is at risk of being socially and financially not ready for the changes that will happen in the near future. Flood risks exist in zones near the Yarra and Maribyrnong Summary milestone Melbourne will turn into a zero-net emitter of greenhouse gasses by decreasing its emissions and sourcing all its energy from renewable sources. Thus resulting in an eco-city and decent to live in. Summary budget To be investigated Stakeholder list Reducing Melbournes greenhouse gas emissions and working to become a zero-net emissions city requires collaboration from everyone in our community. A comprehensive, forward-thinking approach right now is crucial to implement the sustainable energy, infrastructure, transport and waste systems required to reduce our growing emissions. Therefore, major milestones can be accomplished by collaborating diligently with stakeholders like; Victorian Government Departments Energy Companies Regulators Property Developers Transport Providers Education institutions and researches Non-government organisations Industry associations Other Local Councils Approval requirements Building and planning approval Need to investigate deeply PM authority on staffing, technical decision, conflict resolution, budget management Initiating, planning, control and monitoring and closure

Enrollment in Institutions of Higher Education :: Teaching Education

Enrollment in Institutions of Higher Education As the years go on, more and more students are enrolling in higher forms of education, including collages, institutes, technical schools, and universities. This rise can be from the increase of students due to the growth of population, or the realization of the importance of after high school education. The rise of students from 1992 to 1993 was from 281,000 students to 293,000 students, a 12,000 people increase. From 1993 to 1994, the rise was from 293,000 students to 295,000 students, a 2,000 people increase. Some of the businesses affected by the growth are construction companies, staffs, cafeterias, school supplies, public transportation, and areas of entertainment. The construction companies get business by the incoming students. They get jobs building extra dormitories, class rooms, cafeterias, and anything else the collages may need. Also, home owners can raise the prices of apartments and houses because of the rise in the demand for a close by campus home. The school staffs are greatly affected by the increase of incoming students. More teachers will be hired, as well as custodians to keep the campus a clean environment. Guidance counselors and secretaries will also be needed to keep the school organized. The cafeterias in or around the campus will have more customers every day, mostly from the students who live in or around the campus. Students commuting to the school are more likely to not use the cafeterias around the school. With the rise of students, the sales of text books, pencils, book bags, and other everyday school supplies are likely to increase. This is great for the schools bookstores, the publishing companies, the book authors, and large or small school and office stores in or around the campus. School supplies are a must in collage. Most students who live on campus do not have a car. Mostly because of the most of parking, students use public transportation such as trains, busses, and taxi cabs to get around. Also, maybe areas of study are in the city where having a car is not as beneficial as in suburban areas. Movie theaters, restaurants, and comedy clubs will have more customers from students who like to have fun. Also bars, strip clubs, and liquor stores will have more business from the collage student who likes to party and have fun. Many people gain from the increase of

3.03 Two Idealists: Double Feature

Part I. Ralph Waldo Emerson In an essay published in 1841, Emerson addressed one of the central characteristics of the American sensibility: individualism. Before you read, take a moment to think about the term â€Å"self-reliance† and what it means to you as a teenager and a student. As you read, determine what â€Å"self-reliance† meant to Emerson and how your meaning and his overlap. †¢ Read â€Å"Self Reliance. † †¢ Open and complete the questions on the Emerson Questions page. †¢ Then, continue to Part II.Part II Henry David Thoreau â€Å"Civil Disobedience† was inspired by a night in jail, which Thoreau had to serve for not paying his poll tax. His refusal to pay a tax to the state stemmed from his opposition to slavery. The state supported it, and to show his disdain towards the state's position, he refused to pay this tax. Some people have suggested the essay shows that Thoreau merely wanted to withdraw from life and all its hard que stions. Others see Thoreau's position as the only one he could take to justify his stand.Upon completion of this assignment, Part II, you will have to decide for yourself how this essay affects you. †¢ Read â€Å"Civil Disobedience. † †¢ Write a letter to the editor either in support of, or in opposition to this statement from the excerpt above, â€Å"That government is best which governs not at all. † – Thoreau †¢ Before you begin writing, continue to the Report page, where you will receive further instruction on how to formulate this letter. †¢ You will be adding this letter (Part II) to your Part I assignment to submit as your assessment for this lesson

Identity and Belonging Essay

Feedback is considered by many education experts to be one of the most important elements of assessment for student learning as well as being a crucial influence on student learning (Brown, Harris & Harnett, 2012). Feedback, when applied effectively, can result in an increase in learner satisfaction and persistence as well as contributing to students taking on and applying more productive learning strategies. Feedback is a powerful strategy for teachers of all subjects and grade levels to use and has been endorsed worldwide. Feedback can be defined as ‘the information provided by an agent, for example; a teacher or parent, regarding aspects of one’s performance or understanding’ (Brown, Harris & Harnett, 2012). However, when feedback is provided to students inappropriately it can lead to negative effects. This is why, as teachers, we need to have a full understanding of what constitutes effective quality feedback as well as developing an understanding of how to apply feedback in an appropriate manner for our students as differentiated learners (Clark, 2012). Feedback is consistent with the Assessment for learning strategy which focuses assessment on in-course improvement-orientated interactions between instructors and learners rather than end-of-course testing and examinations (Brown, Harris & Harnett, 2012). Assessment for learning acknowledges that individual students learn in idiosyncratic ways and is designed to give information to teachers on how to modify and differentiate teaching and learning activities as well as giving teachers an idea of how best to provide effective feedback to their students (Brown, Harris & Harnett, 2012). There are a few guidelines in which teachers can follow to help improve the quality of their feedback to their students to increase learner satisfaction and persistence as well as catering for differentiated learning, these guidelines include timing, amount, mode, audience (James-Ward, Fisher, Frey & Lapp, 2013) and also allowing students to provide one another with feedback (Brown, Harris & Harnett, 2012). The timing in which teachers provide their students with feedback is important as feedback needs to come while students are still mindful of the topic, assignment or performance in question (James-Ward, Fisher, Frey & Lapp, 2013). Feedback needs to be provided while students are still thinking of their learning goal as a learning goal, meaning; something they are still striving for and not something they have already done (Brown, Harris & Harnett, 2012). It is extremely important to provide students with effective feedback whilst they are still working on reaching their learning target, as mentioned earlier this will influence student learning. It is extremely important for teachers to know the audience in which they are providing feedback to in order for the feedback to be most effective for student learning (James-Ward, Fisher, Frey & Lapp, 2013). This is based on the fact that no student is the same and feedback needs to accommodate for differentiated learners (Clark, 2012). Once a teacher understands his or her students individual learning they can then apply feedback in a way that is best addressed to the student about the specifics of the individuals work in terms the student can understand. Mode is also extremely important in providing effective feedback as it also supports differentiated learning. Mode stands for the different ways in which feedback can be delivered as it can be given in many modalities (James-Ward, Fisher, Frey & Lapp, 2013). Some sorts of assessment lend themselves better to written feedback, some to oral feedback and others are better in demonstrations, and teachers can decide with their knowledge of how best to provide each individual student with feedback based on how they learn and understand best, whether it is written, spoken or demonstrated, in order for the feedback to be most effective in reaching each students learning needs (Clark, 2012). Also recently there has been an increasing agreement that students are a legitimate source of feedback as peer and self-assessment practices encourage students to identify learning objectives and helps them to understand the criteria used to judge their work aiming to reach the goal of increasing self-regulation (Brown, Harris & Harnett, 2012). As timeliness can play a real issue in the effectiveness and quality of feedback from teachers, using students as a source of feedback can legitimately reduce this problem (Brown, Harris & Harnett, 2012). As there are many different ways in which a teacher can go about providing feedback on set learning tasks to their students whether it is orally, written or demonstrated, the ways in which to construct effective feedback varies depending on the student (James-Ward, Fisher, Frey & Lapp, 2013). Ultimately it is the teachers understanding of feedback and the knowing of how each individual student learns best that influences the type and quality of feedback they provide (Brown, Harris & Harnett, 2012). Effective feedback will help increase student evaluation of their own learning progress and will help reach the Assessment for learning goal of developing self-regulating learners (Brown, Harris & Harnett, 2012).

Biography of Louise Nevelson, American Sculptor

Biography of Louise Nevelson, American Sculptor Louise Nevelson was an American sculptor best known for her monumental monochromatic three-dimensional grid constructions. By the end of her life, she was met with much critical acclaim. She is remembered through many permanent public art installations throughout the U.S., including New York City’s Louise Nevelson Plaza on Maiden Lane in the Financial District and Philadelphias Bicentennial Dawn, made in 1976 in honor of the bicentennial of the signing of the Declaration of Independence. Fast Facts: Louise Nevelson Occupation: Artist and sculptorBorn: September 23, 1899 in present-day Kiev, UkraineDied:  April 17, 1988 in New York City, New YorkEducation: Art Students League of New YorkKnown For: Monumental sculptural works and public art installations Early Life Louise Nevelson was born Louise Berliawsky in 1899 in Kiev, then part of Russia. At the age of four, Louise, her mother, and her siblings set sail for America, where her father had already established himself. On the journey, Louise fell sick and was quarantined in Liverpool. Through her delirium, she recalls vivid memories which she cites as essential to her practice, including shelves of vibrant candies in jars. Though she was only four at the time, Nevelson’s conviction that she was to be an artist was present at a remarkably young age, a dream from which she never strayed. Louise and her family settled in Rockland, Maine, where her father became a successful contractor. Her father’s occupation made it easy for a young Louise to interact with material, picking up pieces of wood and metal from her father’s workshop and using it to construct small sculptures. Though she began her career as a painter and dabbled in etchings, she would return to sculpture in her mature work, and it is for these sculptures that she is best known. Though her father was a success in Rockland, Nevelson always felt like the outsider in the Maine town, notably scarred by the exclusion she suffered based on her height and, presumably, her foreign origins. (She was captain of the basketball team, but this did not help her chances at being crowned Lobster Queen, a distinction awarded the most beautiful girl in town.) Though her father was known around Rockland due to his professional activities, Nevelson’s mother secluded herself, rarely socializing with her fellow neighbors. This hardly could have helped young Louise and her siblings adjust to life in the United States. The feeling of difference and alienation drove young Nevelson to escape to New York by any means possible (a journey that reflects somewhat of an artistic philosophy, as she has been quoted as saying, â€Å"If you want to go to Washington, you get on a plane. Someone has to take you there, but its your voyage†). The means that presented itself was a hasty proposal from Charles Nevelson, who young Louise had only met a handful of times. She married Charles in 1922, and later the couple had a son, Myron. Advancing Her Career In New York, Nevelson enrolled in the Art Students League, but family life was unsettling to her. In 1931, she escaped again, this time without her husband and son. Nevelson abandoned her newly-minted family- never to return to her marriage- and departed for Munich, where she studied with the famous art teacher and painter Hans Hoffman. (Hoffman would himself eventually move to the United States and teach a generation of American painters, perhaps the most influential art teacher of the 1950s and 60s. Nevelson’s early recognition of his importance only reinforces her vision as an artist.) Louise Nevelson with her work in the 1950s.   Getty Images After following Hoffman to New York, Nevelson eventually worked under the Mexican painter Diego Rivera as a muralist. Back in New York, she settled in a brownstone on 30th Street, which was filled to bursting with her work. As Hilton Kramer wrote of a visit to her studio, â€Å"It was certainly unlike anything one had ever seen or imagined. Its interior seemed to have been stripped of everything...that might divert attention from the sculptures that crowded every space, occupied every wall, and at once filled and bewildered the eye wherever it turned. Divisions between the rooms seemed to dissolve in an endless sculptural environment. At the time of Kramer’s visit, Nevelson’s work was not selling, and she was often by her exhibitions at the Grand Central Moderns Gallery, which did not sell a single piece. Nevertheless, her prolific output is an indication of her singular resolve- a belief held since childhood- that she was meant to be a sculptor. Persona Louise Nevelson the woman was perhaps more well-known than Louise Nevelson the artist. She was famous for her eccentric aspect, combining dramatic styles, colors, and textures in her clothing offset by an extensive collection of jewelry. She wore fake eyelashes and headscarves that emphasized her gaunt face, making her appear to be somewhat of a mystic. This characterization is not contradictory with her work, which she spoke of with an element of mystery, as if it arrived from another world. Louise Nevelson in the eccentric costume she was known for, photographed in her New York studio in 1974. Jack Mitchell / Getty Images Work and Legacy Louise Nevelson’s work is highly recognizable for its consistent color and style. Often in wood or metal, Nevelson primarily gravitated towards the color black- not for its somber tone, but for its evincing of harmony and eternity. [B]lack means totality, it means contains all†¦ if I speak about it every day for the rest of my life, I wouldn’t finish what it really means, Nevelson said of her choice. Though she would also work with whites and golds, she is consistent in the monochrome nature of her sculpture. A characteristically monochrome abstract sculpture by Nevelson. Corbis/VCG via Getty Images / Getty Images The primary works of her career were exhibited in galleries as â€Å"environments†: multi-sculpture installations which worked as a whole, grouped under a single title, among them â€Å"The Royal Voyage,† â€Å"Moon Garden One,† and â€Å"Sky Columns Presence.† Though these works no longer exist as wholes, their original construction gives a window into the process and meaning of Nevelson’s work. The totality of these works, which were often arranged as if each sculpture were a wall of a four-sided room, parallels Nevelson’s insistence on using a single color. The experience of unity, of disparate gathered parts which make up a whole, sums up Nevelson’s approach to materials, especially as the spindles and shards she incorporated into her sculptures give off the air of random detritus. By fashioning these objects into grid structures, she endows them with a certain weight, which asks us to reassess the material with which we come in contact. Louise Nevelson died in 1988 at the age of eighty-eight. Sources Gayford, M. and Wright, K. (2000). Grove Book of Art Writing. New York: Grove Press. 20-21.Kort, C. and Sonneborn, L. (2002). A to Z of American Women in the Visual Arts. New York: Facts on File, Inc. 164-166.Lipman, J. (1983). Nevelsons World. New York: Hudson Hills Press.Marshall, R. (1980). Louise Nevelson: Atmospheres and Environments. New York: Clarkson N. Potter, Inc.Munro, E. (2000).  Originals: American Women Artists. New York: Da Capo Press.

drug War essays

drug War essays How many people have heard about the Drug War the US is supposedly fighting? A few months ago in another class we were asked whether we thought Marijuana should be legalized in class and seven people were against legalizing it, six were for it, and four were undecided. Those numbers are pretty close and could have gone either way if the undecided had picked one side or the other. Much of the drug war puts Marijuana users away. There are many arguments for and against the Drug War that the US is trying to fight and much of it pertains to the mandatory minimum sentencing the US has and the cost of keeping drug users in jail. The number one reason why I believe we should stop the so called drug war in this country is that the government is spending to much of our taxes to fight a losing battle. I have not seen any results in this fight and believe it is a waste of time and money. There are many ways the government is wasting our money on this fight. Former President Bill Clinton gave hundreds of billions of dollars to Columbia and other countries governments to help stop drugs from coming into the US. These countries governments probably receive money from the drug dealers in there country to sell drugs in the US. Then before Bill Clinton left office he pardoned a number of drug users including his half brother. Although I agree with letting these people go I find it a bit hypocritical. Another way the government is spending our taxes is by allowing outrageous laws and mandatory minimum sentences that lock tens of thousands of people up for possession longer then someone who rapes or murders someone. According to the US Justice Department Bureau of Prison Statistics about 60% of federal prisoners are drug offenders and just 3% are violent offenders. Whereas violent offenders serve an average of 54% of their prison term, drug offenders are legally required to se ...

Brokeback Mountain

The movie opens in 1963 in Wyoming when two young cowboys are looking for work as sheep herder. The two cowboys, Ennis Del Mar (Heath Ledger) and Jack Twist (Jake Gyllenhaal), are sent to Brokeback mountain to herd sheep’s and it is there that both fall in love with each other. After this realization, both go their separate ways; Ennis back home to his sweetheart, Alma (Michelle Williams) and Jack to Texas to be a rodeo rider. Four years later, the two are reunited when Jack visits Ennis. At this point both men are married with kids; Ennis to Alma and Jack to Lureen (Anne Hathaway). The two meet together once a year in Brokeback Mountain, the one place both men feel safe and comfortable to express their love for each other, over a 20-year period. Heath Ledger and Jake Gyllenhaal masterfully portrayed their characters to a tee. Ennis Del Mar is a very simple and quite man who just wants to find a place for himself in the world while Jack Twist is outgoing, full of dreams which, due to the blatant homophobia of the time and location, cannot come true. Jack’s dream is to live with Ennis in their own ranch, a dream that Ennis knows is unrealistic. Ennis is tormented by his love for Jack because as a child he witnessed what happened to a man who lived in a union others deemed not right while Jack is tormented by Ennis’s refusal to accept and acknowledge their relationship beyond Brokeback Mountain. Some in the mainstream media, which took some people by surprise, positively received Brokeback Mountain. The movie was critically praised and received many awards for the actors and director. Heath Ledger was nominated for the best actor category in a drama, Michelle Williams for best supporting actress in a drama and Ang Lee for director, which he won at the Oscar’s. Since Brokeback Mountain came out, there have been several shows and movies that have gay, lesbian, bi-sexual, transgender and transsexual (tblg) characters featured. Ang Lee said it best when he accepted his award for director for Brokeback Mountain â€Å"the power of movies to change the way we’re thinking† (Globes goes to ‘Brokeback’, ‘Walk the lines’; International Herald Tribute, January 17, 2006). Only time will tell if this will led to society being more open-minded of people from the tblg community. A good indication of acceptance is when such movies are classified as a romantic movie instead of a ‘gay cowboy movie’ Brokeback Mountain Brokeback Mountain The movie opens in 1963 in Wyoming when two young cowboys are looking for work as sheep herder. The two cowboys, Ennis Del Mar (Heath Ledger) and Jack Twist (Jake Gyllenhaal), are sent to Brokeback mountain to herd sheep’s and it is there that both fall in love with each other. After this realization, both go their separate ways; Ennis back home to his sweetheart, Alma (Michelle Williams) and Jack to Texas to be a rodeo rider. Four years later, the two are reunited when Jack visits Ennis. At this point both men are married with kids; Ennis to Alma and Jack to Lureen (Anne Hathaway). The two meet together once a year in Brokeback Mountain, the one place both men feel safe and comfortable to express their love for each other, over a 20-year period. Heath Ledger and Jake Gyllenhaal masterfully portrayed their characters to a tee. Ennis Del Mar is a very simple and quite man who just wants to find a place for himself in the world while Jack Twist is outgoing, full of dreams which, due to the blatant homophobia of the time and location, cannot come true. Jack’s dream is to live with Ennis in their own ranch, a dream that Ennis knows is unrealistic. Ennis is tormented by his love for Jack because as a child he witnessed what happened to a man who lived in a union others deemed not right while Jack is tormented by Ennis’s refusal to accept and acknowledge their relationship beyond Brokeback Mountain. Some in the mainstream media, which took some people by surprise, positively received Brokeback Mountain. The movie was critically praised and received many awards for the actors and director. Heath Ledger was nominated for the best actor category in a drama, Michelle Williams for best supporting actress in a drama and Ang Lee for director, which he won at the Oscar’s. Since Brokeback Mountain came out, there have been several shows and movies that have gay, lesbian, bi-sexual, transgender and transsexual (tblg) characters featured. Ang Lee said it best when he accepted his award for director for Brokeback Mountain â€Å"the power of movies to change the way we’re thinking† (Globes goes to ‘Brokeback’, ‘Walk the lines’; International Herald Tribute, January 17, 2006). Only time will tell if this will led to society being more open-minded of people from the tblg community. A good indication of acceptance is when such movies are classified as a romantic movie instead of a ‘gay cowboy movie’ Brokeback Mountain Brokeback Mountain

Lorenzo's Oil Essay Example | Topics and Well Written Essays - 500 words

Lorenzo's Oil - Essay Example Also featured as an important aspect of this film is the way that the home care nurses treated their patient whom they knew was an invalid. Their negativism was poisonous to the childs environment and contributed to the undue stress that the child and the family were already experiencing. The main thing that inspired me about the family in this movie was the fact that they never allowed anyone to tell them what they could and could not do for their son. The Odones are the epitome of parents who put everything on the line in order to give their son a life. Granted that it may have not been a life that the boy would have chosen for himself and maybe, the boy at a certain point was already begging to die, but what kind of person would give up on his own life when his own family has fought so hard to keep him alive? Lorenzo himself was an inspiration as he bravely battled his physical and inner demons in order to continue with his life and his mission. Unbeknownst to the boy, he became a symbol of hope for all those suffering from ALD and his own family was a beacon of light for those who needed more than just medical jargon being spouted at them. It is because of this positive attitude of the Odones that I was saddened to see Lorenzos two medical nurses display such unprofessional behavior while caring for him. A nurse is by profession a care giver. A person who helps care for those who are ill and assist the family in dealing with their already trying situation. It is never the place of the nurse to dictate to the parents of the patient regarding what kind of medical treatment they think the patient should be having. A nurse should also display an uncanny sense of empathy for the ill and his parents. The attitude of the second nurse in the movie was something that should be disapproved of by any parent. Whether the patient is conscious of his position and condition or not, the latter should always be assumed

Career Development Assignment Example | Topics and Well Written Essays - 1250 words

Career Development - Assignment Example l companies  choose  to search for candidates via their own  private  system  where each candidate  has been recognized  by a known source, and this can result to a high â€Å"hit rate† of productive hires for the procedure. The â€Å"push†Ã‚  factor  involves reaching out to the  possible  employers and  likely  co-workers. This should be done on a social basis as a student, colleague or a  mentor  and not as a job seeker. Through this, I am able to push through the job opportunity. Despite the reason, I must  recognize  the above reality, and the best method to handle the  unseen  job market is to reach out for it. To accomplish this, I must be able to  seek  out for  job  chances that might be present or will be  present, and those that do exist (Joyce, 2008). I  believe  that where there is smoke, there is  fire.  Therefore, as I look at  job  chances in  specific  companies, there is the probability that more opportunities  are not listed.  If at all they are hiring, then that indicates that there are other opportunities either available for  hire, or are soon-to-be approved (Joyce, 2008). I should not  submit  applications for incompatible jobs to try and  get  others. However, use the contact order to  commence  the networking into the company. In the course of my own  association, I  observe  who I can get in touch with to inquire about other chances that may be coming up at the company. It is  crucial  that I connect with friends and neighbors.  Because I  am unemployed  at the moment, I  keep  the  pride  away  and connect with friends and neighbors. Through this, I am able to  ask  everyone if they know â€Å"who is hiring?† This is another method to  begin  the exploratory  procedure  I must  utilize  to  dive  into the jobs that  are hidden. It is  significant  to  see  into the future. Appeal for informational or  casual  interview  is a  means  for  being considered  for  potential  opportunities. Various hiring directors love to  maintain  their

Defibrillators Essay Example | Topics and Well Written Essays - 2500 words

Defibrillators - Essay Example Per the European Union legal framework, a medical device is an apparatus that is used in diagnosis, prevention, or treatment of diseased conditions where its mode of action is not through chemical action in a patient’s body. Medical devices consist of enormous variations with regard to their sophistication and scope of use, which ranges from tongue depressors to medical robots and cardiac pacemakers. Biomedical engineering involves fundamental aspects of the device production including designing, system analysis, and practical application. This is in line with ensuring that quality and reliable devices. This paper seeks to highlight defibrillators as medical devices with regard to their history, scope of application and safety aspects of the device in terms of human factors engineering. It is estimated that about 30,000 people in the United Kingdom experience cardiac arrest away from the hospital annually and they are assisted by medical emergency response units (Resuscitation Council, 2010). Such assistance is facilitated by the availability of portable medical devices, which prove essential in the delivery of the critically required services. Among the crucial devices required in relieving the effects of cardiac arrest is the defibrillator. Defibrillators are apparatus, external or implanted, that deliver an electric shock to the heart via the chest cavity in order to restore normal heart rhythms. Defibrillators function by delivering a joust of electric current to the heart in order to polarise the muscles and nerve cells, allowing them resume a normal rhythm (Street, 2012). Implanted Cardioverter Defibrillator (ICD) constantly monitors the heartbeat rate as well as its rhythm to detect abnormal and life threatening rhythms, which on detection an electric shock is sent to the heart to restore a normal rhythm (Defibrillation, n.d). The device also works as a pacemaker to curb the effects of the electric shock, which slows down the rate of the heartbeat . The above is illustrative of a monitoring and feedback mechanism, where the defibrillators function based on signals taken from the patient after its analysis. Among the external defibrillator units are automated external defibrillators (AED), which automate the patient’s heartbeat rhythms for monitoring as electric shock is administered to normalise the rhythm. AEDs consist of in-built computer systems that examine the patient’s heartbeat in order to assess the need to administer defibrillation (Sciammarella, n.d.). One of the common causes of cardiac arrest is ventricular fibrillation, which is characterised by chaotic, unorganised electrical malfunction of the heart resulting in a less effective heartbeat (Khandpur, 2003). This chaotic electrical activity can be stopped and its effects reversed by the application of an electrical counter shock where heart assumes a normal and organised rhythm. Disorders in the generation of a normal pulse by the heart results irre gular heartbeats manifested in arrhythmias. Abnormal automaticity and triggered activity are characteristic of conduction abnormalities that trigger ventricular tachycardia. In addition to the use of medication and surgical procedures in the management of arrhythmias, defibrillation comes in handy in resolution of ventricular tachyarrhythmia and atrial fibrillation. This is especially so for medical emergencies that occurs away from healthcare facilities.

Speech Acts in Bilinguals Essay Example | Topics and Well Written Essays - 3250 words

Speech Acts in Bilinguals - Essay Example According to Levinson, pragmatics is a lot more than mere acquisitions of languages, as it involves the fields which are chiefly concerned with resolving problems in communication, for the reason that the implementation of pragmatics are possible to be of straight sensible significance (Levinson, 1983). As a point in fact, this dissertation is all about pragmatics, speech acts, bilingualism, and acquisitions. Moreover, it efficaciously delineates the profound association between language, culture and society with suitable examples. As suggested by Liu, Pragmatics is a sub-field of linguistics which was developed in the concluding 1970s that analyzes the way individuals and groups comprehend and generate an outgoing or speech act in an efficaciously real speech circumstance which is usually construed as a conversation (Liu, 2007). The study of pragmatics skillfully differentiates between dual intentions or interpretations occurring in each speech or communicative act of the oral communication. As per the views of Leech, whereas, one of the acts may be considered as the educational intention or the statement interpretation, the other is interactive intention or orator interpretation (Leech, 1983). Moreover, Kasper has efficiently pointed out that the competence to understand and generate an interactive act is often referred to as pragmatic competence, as it includes one's know-how regarding the communal coldness and position between the orators that are involved in it, along with the cultural know-how and lingui stic information, both clear and implied (Kasper, 1997). According to Paradis, language analysts conventionally apprehend themselves with the system of language which is often construed as implied linguistic ability, or grammar, that is characteristically ensuing to lacerations in the perisylvian conventional dialect fields of the left cerebral hemisphere (Paradis, 2004). Various studies associated with interpersonal communication have frequently misconceptions as their essential grouping as cross-societal communication is merely as often featured by the accomplishment, and directs to reasonable comprehension as intra-cultural interaction. Whilst, the exploitation of an ordinary language fails to assure reciprocated comprehension, the non-attendance of an ordinary dialect essentially fails to secure it. The effectual understanding with no common language is a recurring subject matter in modern advertising as well. The doctrines of pragmatics that people put up in a particular language are often dissimilar in another. As a point in fact, th ere exists an increasing curiousness in the way people in different dialects construe to a particular pragmatic doctrine (Liu, 2007). As reported by various analyses regarding cross-linguistics as well as cross-cultures, the graciousness in one language does not

MarketingProject-Kuwait Research Paper Example | Topics and Well Written Essays - 1000 words

MarketingProject-Kuwait - Research Paper Example Additionally, the low average utilization of aircrafts, gives them a higher cost per every seat mile, this is different from Jazeera Air, which has cut its fleet and uses its aircrafts extensively (Shaw 35). This paper discusses how Ryanair’s limited airport transportation will work in the Middle East where the airports are concentrated. Consumers across the globe have continued to turn towards the internet for their various travel needs. This involves research on trips, comparison of prices, shopping for flights and booking. Consumers have found this convenient and vital to their business and personal travel needs. Looking across the markets with increased focus on the Middle East market, there are various emerging demographic trends that drive growth across the B2C travel industry. Understanding this trend is vital for Ryanair in order to create a strong presence online and increase market share. One demographic group, which would fly Ryanair is the age group from twenty fiv e to thirty four. This is because these are the most likely to prefer low cost carriers, as they have just started earning and would be more willing to forfeit the comfort and luxury of a traditional airline for the cost saving measures of a low cost carrier like Ryanair. People from thirty five to forty four would also consider flying Ryanair because of its cost cutting. This is generated by the idea that they have most likely had increased responsibilities. However, it should be noted that these are those people in the middle to low income earning bracket. Those over sixty-five were the least willing to consider flying Ryanair. Another demographic, which would fly Ryanair would be students studying abroad or travelling for study trips. This would be informed by the fact that they will be doing this on funds from the government or school. However, there was a disparity with the sexes, with one woman claiming that low cost carriers did not provide enough segregation for women, and s ince she preferred to remove her booking on the flight, she would be uncomfortable. Another demographic that would most certainly be willing to fly Ryanair for its low cost measures is tourist groups. Given that most claimed to be travelling on a budget that they had been saving for a while. For business people, the most receptive to Ryanair travel were those in supervisory roles or junior management positions, in their companies. Those in middle management roles were also receptive of the idea of a low cost carrier. However, those in professional roles or senior management are least interested in a low cost carrier like Ryanair. Finally, Kuwaiti’s travelling to Europe to experience leisure or visit relatives and friends are likely to fly Ryanair for its low cost. However, business people were least interested in using a low cost carrier like Ryanair, despite the fact that it would save their organization money. Clients who are concerned about the environment could elect to f ly low cost carriers since the reduced weight of the plane leads to a reduction in fuel used by the plane (Shaw 38). These airlines also offer a fairly simpler scheme for fares, for example, charging tickets for one way at half the price of round trips. This encourages clients to choose it. Since these carriers fly to less congested and smaller secondary airports during off-peak hours to avoid delays by traffic, they offer an

Defibrillators Essay Example | Topics and Well Written Essays - 2500 words

Defibrillators - Essay Example Per the European Union legal framework, a medical device is an apparatus that is used in diagnosis, prevention, or treatment of diseased conditions where its mode of action is not through chemical action in a patient’s body. Medical devices consist of enormous variations with regard to their sophistication and scope of use, which ranges from tongue depressors to medical robots and cardiac pacemakers. Biomedical engineering involves fundamental aspects of the device production including designing, system analysis, and practical application. This is in line with ensuring that quality and reliable devices. This paper seeks to highlight defibrillators as medical devices with regard to their history, scope of application and safety aspects of the device in terms of human factors engineering. It is estimated that about 30,000 people in the United Kingdom experience cardiac arrest away from the hospital annually and they are assisted by medical emergency response units (Resuscitation Council, 2010). Such assistance is facilitated by the availability of portable medical devices, which prove essential in the delivery of the critically required services. Among the crucial devices required in relieving the effects of cardiac arrest is the defibrillator. Defibrillators are apparatus, external or implanted, that deliver an electric shock to the heart via the chest cavity in order to restore normal heart rhythms. Defibrillators function by delivering a joust of electric current to the heart in order to polarise the muscles and nerve cells, allowing them resume a normal rhythm (Street, 2012). Implanted Cardioverter Defibrillator (ICD) constantly monitors the heartbeat rate as well as its rhythm to detect abnormal and life threatening rhythms, which on detection an electric shock is sent to the heart to restore a normal rhythm (Defibrillation, n.d). The device also works as a pacemaker to curb the effects of the electric shock, which slows down the rate of the heartbeat . The above is illustrative of a monitoring and feedback mechanism, where the defibrillators function based on signals taken from the patient after its analysis. Among the external defibrillator units are automated external defibrillators (AED), which automate the patient’s heartbeat rhythms for monitoring as electric shock is administered to normalise the rhythm. AEDs consist of in-built computer systems that examine the patient’s heartbeat in order to assess the need to administer defibrillation (Sciammarella, n.d.). One of the common causes of cardiac arrest is ventricular fibrillation, which is characterised by chaotic, unorganised electrical malfunction of the heart resulting in a less effective heartbeat (Khandpur, 2003). This chaotic electrical activity can be stopped and its effects reversed by the application of an electrical counter shock where heart assumes a normal and organised rhythm. Disorders in the generation of a normal pulse by the heart results irre gular heartbeats manifested in arrhythmias. Abnormal automaticity and triggered activity are characteristic of conduction abnormalities that trigger ventricular tachycardia. In addition to the use of medication and surgical procedures in the management of arrhythmias, defibrillation comes in handy in resolution of ventricular tachyarrhythmia and atrial fibrillation. This is especially so for medical emergencies that occurs away from healthcare facilities.

MarketingProject-Kuwait Research Paper Example | Topics and Well Written Essays - 1000 words

MarketingProject-Kuwait - Research Paper Example Additionally, the low average utilization of aircrafts, gives them a higher cost per every seat mile, this is different from Jazeera Air, which has cut its fleet and uses its aircrafts extensively (Shaw 35). This paper discusses how Ryanair’s limited airport transportation will work in the Middle East where the airports are concentrated. Consumers across the globe have continued to turn towards the internet for their various travel needs. This involves research on trips, comparison of prices, shopping for flights and booking. Consumers have found this convenient and vital to their business and personal travel needs. Looking across the markets with increased focus on the Middle East market, there are various emerging demographic trends that drive growth across the B2C travel industry. Understanding this trend is vital for Ryanair in order to create a strong presence online and increase market share. One demographic group, which would fly Ryanair is the age group from twenty fiv e to thirty four. This is because these are the most likely to prefer low cost carriers, as they have just started earning and would be more willing to forfeit the comfort and luxury of a traditional airline for the cost saving measures of a low cost carrier like Ryanair. People from thirty five to forty four would also consider flying Ryanair because of its cost cutting. This is generated by the idea that they have most likely had increased responsibilities. However, it should be noted that these are those people in the middle to low income earning bracket. Those over sixty-five were the least willing to consider flying Ryanair. Another demographic, which would fly Ryanair would be students studying abroad or travelling for study trips. This would be informed by the fact that they will be doing this on funds from the government or school. However, there was a disparity with the sexes, with one woman claiming that low cost carriers did not provide enough segregation for women, and s ince she preferred to remove her booking on the flight, she would be uncomfortable. Another demographic that would most certainly be willing to fly Ryanair for its low cost measures is tourist groups. Given that most claimed to be travelling on a budget that they had been saving for a while. For business people, the most receptive to Ryanair travel were those in supervisory roles or junior management positions, in their companies. Those in middle management roles were also receptive of the idea of a low cost carrier. However, those in professional roles or senior management are least interested in a low cost carrier like Ryanair. Finally, Kuwaiti’s travelling to Europe to experience leisure or visit relatives and friends are likely to fly Ryanair for its low cost. However, business people were least interested in using a low cost carrier like Ryanair, despite the fact that it would save their organization money. Clients who are concerned about the environment could elect to f ly low cost carriers since the reduced weight of the plane leads to a reduction in fuel used by the plane (Shaw 38). These airlines also offer a fairly simpler scheme for fares, for example, charging tickets for one way at half the price of round trips. This encourages clients to choose it. Since these carriers fly to less congested and smaller secondary airports during off-peak hours to avoid delays by traffic, they offer an

BOEINGs Strengths Analysis Essay Example for Free

BOEINGs Strengths Analysis Essay Strengths Implications 1. Highly Skilled Managers The operation of the company will run smoothly. The performance of the company will improve and would lead the company to be successful. 2. Provide global customer support It would serve the customers better and it would be very convenient to those customers in other countries to ask for help. This would help the company to gain a better image due to the provided services to help the customers. 3. Outsourcing It can save time for the company to manufacture or assembly its products. 4. Emphasizing the product quality The durability of the company could last long. It gives the company to have a durability image to the customers. Customers would likely be satisfied and the company could gain some customer loyalty. 5. Recognized market leader Customers would likely choose them first as their priority. 6. Strong brand name Customers would easily associate the product. The brand name is instilled in the mind of the customers. Then, customers would think that the product is of good quality and the product would be their major choice when purchasing. The company would be able to generate higher sales for having strong brand name. It also has more advantage than the competitors in many areas. 7. Joint ventures/ Alliances with other aircraft companies It would help the company lessen its burden on producing other parts of aircraft. It aids on making the production of aircraft faster with the service of another companies. It would make the aircraft production for two aircraft companies sharing ideas for the betterment of the aircraft. 8. Many Features This will give higher probability that the customer would buy the product because of the extra features. This is absolutely an advantage for the company. If passengers are satisfied by this aircraft most probably that the airline would buy again from the same company of aircraft gaining customer loyalty. Weaknesses Implications 1. Layoff technical workers It will consume lots of time to hire new workers and will spend lot of money to train them if there is a need to do so. In fact, hiring or choosing the right candidates is a critical operation of the company. This might threaten other workers for being the next candidate to be laid off. And this would lead to lower productivity. Mostly, new workers are to be oriented and supervised so it will take time. 2. Mismanagement of parts or raw materials When the parts are needed, they are mostly not available for the production process. Thus, while in process, a halt might happen. So, it is not efficient at all. 3. Conservative Company The company could not improve well on its system. It could not adapt to the changes in the environment that leads to failures. It believes that its system will work well when in fact there might be other effective ways. It might lose some opportunities that come its way. 4. High Production Cost It might lead to higher cost of product to be able to earn revenue. And it is not consistent to the goal of the customers. It might also lead to lower demand and lesser income. 5. Every 12 years of generating or launching a new aircraft design Competitors might be the first to launch new aircraft that threatens the company. And they might surpass the ability of the company in terms of generating sales. When the time the company launches the new aircraft, most airlines have already purchased the aircraft of its competitors so it would not need to purchase again. Opportunities Implications 1. Transferring technological know how to new products or business The company has lesser difficulties in operating the new acquired business for they are using the same method from their own company. This means that growth occur in the country. 2. Extend reputation to new geographic area The Boeing company not only would want their domestic country know them but also to other geographic areas. As of now, airlines are more familiar with Boeing than its competitors. 3. Acquisition of rival aircraft company It means that there would be fewer competitors. It would also strengthen the system of the company. Because of involvement of more employees. These employees would contribute knowledge and expertise to help the company grow. New way of running the business may supplement in the development of the company. Im one way or another; it serves its purpose of improvement. 4. Expanding the companys product line to meet a broader range of customer needs The company may gain advantage on investing in a different product line. Facing new competitors would be a challenge on the part of the company. There might be opportunities waiting for the company. It is also an additional income for the company if it becomes successful. And to meet the needs of the customers by providing new products would lead to an aggressive and healthy competition. It also helps build the economy of the country if there is new development in companies. And it also leads to high employment because theres a need to hire more employees to implement the new business activities. Threats Implications 1. Competitor The competitor might out beat them and threat is higher for their market share. Lack of planning would have big impact to the company. They should anticipate for the rivalry between them. Timing and being competitive is important. If they are not met, this would incur loss in the  company. 2. Trade Barriers They may encounter difficulties in the regulation regarding aircraft imposed by the country to which they import their products to. They may also need documents before releasing or create an aircraft. 3. Deregulation of Airlines The regulation of the company for its customers would compromise in order to gain favor of the customers. This may affect the standard operation of the company and may also result to disorganized process of company operation. 4. Terrorist Attack The horrible incident of 9/11 may also be a cause of not buying another aircraft. People of that country would not want to travel because they are threat by the terrorist attack. It would results to decrease the people who are traveling and lead the airline customers freeze to buy aircraft, since the people who travel has been reduced. 5. Supply and demand for the aircraft The more people that are not traveling, the more chances that the airline industry wont buy new airplanes. This may results to low demand.

Forex Market Case Study Analysis

Forex Market Case Study Analysis Preface Just as stranger walk on path last arrive at their destination; project work is like a path after walking in which students can gain experience knowledge that can be stepping stone towards their success. It is such a work that enhances each every individual working capacity knowledge. The Importance of Thesis is that it is blending of both theoretical practical knowledge. Through the thesis, I got a golden change to have guidance under professionals senior executives which can definitely be a platform of establishing themselves. During my thesis work I visited AMA Library, Gujarat Chamber of Commerce and SBI which helped us a lot to gain information about Forex derivatives. This opportunist of thesis provided to me was not only a platform to develop enhance my appetite of learning but also served a fusion of the theoretical concept their practical application in corporate world. INTRODUCTION: To make a profit from the forex market of International trade you have a grip on mainly five key factors that affects a currency value. When making our trades we analyze five key factors which are as follows. Interest Rates Economic Growth Geo-Politics Trade and Capital Flows Merger and Acquisition Activity Interest Rates: Interest income and capital appreciation these two methods we can use to make profit from different in terms of countries interest rates. Interest Income. Every currency in the world comes attached with an interest rate that is set by its countrys central bank. All things being equal, you should always Buy currencies from countries with high-interest rates and Finance these purchases with currency from countries with low-interest rates. For example, as of the fall of 2006, interest rates in the United States stood at 5.25%, while rates in Japan were set at .25%. You could have taken advantage of this rate difference by borrowing a large sum of Japanese yen, exchanging it for US dollars and using the US dollars to purchase bonds or cds at the US 5.25% rate. In other words, you could have borrowed money at .25%, lent it out at 5.25%, and made a 5% return.Or you could save yourself all the hassle of becoming a money lender by simply trading the currency pairto affect the same transaction. Capital appreciation. Asa countrys interest rate rises, the value of the countrys currency also tends to rise this phenomenon gives you a chance to profit from your currencys increased value, or capital appreciation. In the case of the USD/JPY spread in 2005 and 2006, as the US interest rates stayed higher than Japans, the dollar continued to increase in value. Investors who traded yen for dollars gained from interest income as well as the US dollars capital appreciation. Economic Growth. Economic Growth is next factor when predicting a countrys currency movements.The stronger the economy, the greater the possibility that the central bank will raise its interest rates in order to the growth of inflation.Andthe higher a countrys interest rates, the bigger the likelihood those foreign investors will invest in a countrys financial markets.More foreign investors mean a greater demand for the countrys currency.A greater demand results in an increase in a currencys value. Hence economic growth inspires higher interest rates inspires more foreign investment inspires greater currency demand which inspires an increase in the currencys value. Geo-Politics. The currency market is the only market in the world that can be successfully traded on political news as well as economic releases.Because currencies representcountries rather than companies and any disturbance to the political landscape will oftentimes affect the direction in which the exchange rate moves. The key to understanding speculative behavior with respect to any geopolitical unrest is that speculators run first and ask questions later.In other words, whenever investors fear any threat to their capital, they will quickly retreat to the sidelines until they are certain that the political risk has disappeared.Therefore, the general rule of thumb in the currency market is thatpolitics almost always trumps economics. Trade and Capital Flows Before ever making a final prediction regarding the movement (or trend) of a particular currency you should determine whether or not the currency is dependent on its countrys capital or trade flow. Capital flow refers to the amount of investment a country receives from international sources. Trade flow is the income resulting from trade. Some countries can be very dependent their capital flow, while other countries are extremely sensitive to trade flows. Mergers and Acquisitions Merger and acquisition activity is the least important factor in determining the long-term direction of currencies. It can be the most powerful force in stagingnear-term currency moves.Merger and acquisition activity occurs when a company from one economic region wants to make a transnational transaction and buy a corporation from another country. For example, a European company wants to buy a Canadian asset for $20 billion, it would have to go into the currency market and acquire the currency to affect this transaction.Typically, these deals are not price sensitive, buttime sensitivebecause the acquirer may have a date by which the transaction is to be completed. Because of this underlying dynamic, merger and acquisition flow can exert a very strong temporary force on FX trading, sometimes skewing the natural course of currency flow for days or weeks. OBJECTIVE: Main Objective is for getting in depth knowledge of my topic. To critically analyze the Forex market of International trade. To analyze the five key factors that moves the Forex market and how to make profit out of them. To analyze the present data and forecasting a future movement of Forex market. METHODOLOGHY: * Introduction of the topic in detail. * For predict market movement I am using two methods like fundamental analysis and technical analysis. Technical analysis includes Candlestick Charts and Moving Averages (Simple and Exponential) SOURCES: Primary source  · Taking interview of the expertise in the Forex market. Secondary source  · Use Books, Magazines, Newspapers, Research papers and Internet as secondary sources LIMITATIONS:  · I have to follow only these five factors for move the Forex market.  · Interview is the only primary research in the Forex market.  · Inflation is the main factor which moves the Forex market but which is not included in the five factors.  · Merger and Acquisition is the least important factor. CHAPTER 1: INTRODUCTION OF FOREIGN EXCHANGE Foreign Exchange is the method or process of conversion/converting one currency into another currency. Currency becomes money and legal tender for a country. But for a foreign country it becomes the value as a commodity. Since the commodity has a value its relation with the other currency determines the exchange value of one currency with the other. It is just the game of supply and demand. For example, the US dollar in USA is the currency in USA but for India it is just like a commodity which has a value which varies according to demand and supply. Foreign exchange is one of the economic activity which deals with the means and methods by which rights to wealth expressed in terms of the currency of one country are converted into rights to wealth in terms of the current of another country. It involves the investigation of the method which exchanges the currency of one country for that of another. Foreign exchange can also be defined as the means of payment in which currencies are converted into each other and by which international transfers are made also the activity of transacting business in further means. Most countries of the world have their own currencies. The US has its dollar, France its franc, Brazil its cruziero and India has its Rupee. Trade between the countries involves the exchange of different currencies. The foreign exchange market is the market in which currencies are bought and sold against each other. It is the largest market in the world. Transactions conducted in foreign exchange markets determine the rates at which currencies are exchanged for one another, which in turn determine the cost of purchasing foreign goods financial assets. The most recent, bank of international settlement survey stated that over $900 billion were traded worldwide each day. During peak volume period, the figure can reach upward of US $2 trillion per day. The corresponding to 160 times the daily volume of NYSE. CHAPTER 2: ORIGIN OF THE FOREX MARKET The FOREX trading traces its history to centuries ago. Different currencies and the need of exchange them had existed since the Babylonians. They are credited with the first use of paper notes and receipts. In that time the value of goods were expressed in terms of other goods which were called as Barter system. The obvious limitations of such a system encouraged establishing more generally accepted mediums of exchange. It was important that a common base of value could be established. In some economies, items such as teeth, feathers even stones served this purpose, but soon various metals, in particular gold and silver, established themselves as an accepted means of payment as well as a reliable storage of value. Trade was carried among people of Africa, Asia etc through this system. Coins were initially minted from the preferred metal and in stable political regimes, the introduction of a paper form of governmental I.O.U. during the middle Ages also gained acceptance. This type of I.O.U. was introduced more successfully through force than through persuasion and is now the basis of todays modern currencies. Before the First World War, most Central banks supported their currencies with convertibility to gold. However, the gold exchange standard had its weaknesses of boom-bust patterns. As an economy strengthened, it would import a great deal from out of the country until it ran down its gold reserves required to support its money. As a result, the money supply would diminish, interest rates escalate and economic activity slowed to the point of recession. Ultimately, prices of commodities had hit bottom and it appearing attractive to other nations who would sprint into buying fury that injected the economy with gold until it increased its money supply, drive down interest rates and restore wealth into the economy. However, for this type of gold exchange, there was not necessarily a Centrals bank need for full coverage of the governments currency reserves. This did not occur very often, however when a group mindset fostered this disastrous notion of converting back to gold in mass, panic resulted in so-called Run on banks. The combination of a greater supply of paper money without the gold to cover led to devastating inflation and resulting political instability. The Great Depression and the removal of the gold standard in 1931 created a serious lull in FOREX market activity. From 1931 until 1973, the FOREX market went through a series of changes. These changes greatly affected the global economies at the time and speculation in the FOREX markets during these times was little. Inorder to protect local national interests, increased foreign exchange controls were introduced to prevent market forces from punishing monetary irresponsibility. Nearthe end of World War II, the Bretton Woods agreement was reached on the initiative of the USA in July 1944. The conference held in Bretton Woods, New Hampshire rejected John Maynard Keynes suggestion for a new world reserve currency in favor of a system built on the US Dollar. International institutions such as the IMF, The World Bank and GATT were created in the same period as the emerging victors of WWII searched for a way to avoid the destabilizing monetary crises leading to the war. The Bretton Woods agreement resulted in a system of fixed exchange rates that reinstated The Gold Standard partly, fixing the USD at $35.00 per ounce of Gold and fixing the other main currencies to the dollar, initially intended to be on a permanent basis. TheBretton Woods system came under increasing pressure as national economies moved in different directions during the 1960s. A number of realignments held the system alive for a long time but eventually Bretton Woods collapsed in the early 1970s following president Nixons suspension of the gold convertibility in August 1971. The dollar was not any longer suited as the sole international currency at a time when it was under severe pressure from increasing US budget and trade deficits. Thelast few decades have seen foreign exchange trading develop into the worlds largest global market. Restrictions on capital flows have been removed in most countries, leaving the market forces free to adjustforeign exchange ratesaccording to their perceived values. TheEuropean Economic Community introduced a new system of fixed exchange rates in 1979, the European Monetary System. The quest continued in Europe for currency stability with the 1991 signing of The Maastricht treaty. This was to not only fix exchange rates but also actually replace many of them with the Euro in 2002. London was, and remains the principal offshore market. In the 1980s, it became the key center in the Eurodollar market when British banks began lending dollars as an alternative to pounds in order to maintain their leading position in global finance. InAsia, the lack of sustainability of fixedforeign exchange rateshas gained new relevance with the events in South East Asia in the latter part of 1997, where currency after currency was devalued against the US dollar, leaving other fixed exchange rates in particular in South America also looking very vulnerable. Whilecommercial companies have had to face a much more volatile currency environment in recent years, investors and financial institutions have discovered a new playground. The FOREX exchange market initially worked under the central banks and the governmental institutions but later on it accommodated the various institutions. At present it also includes the dot com booms and the World Wide Web. The size of the FOREX market now dwarfs any other investment market. Theforeign exchange marketis the largest financial market in the world. Approximately 1.9 trillion dollars are traded daily in theforeign exchange market. It is estimated that more than USD 1,200 Billion are traded every day. It can be said easily that FOREX market is a lucrative opportunity for the modern day savvy investor SHORT INFO OF FOREX The history of FOREX trading was traced centuries ago. Different countries need different currencies and the need of exchange them had existed since the Babylonians. It is said that Babylonians were the first one who used paper notes and receipts. During those days, goods were exchanged for another goods based on the value of both the goods, which was known as barter system. But this system had some limitations and this lead to encourage establishing more generally accepted medium of exchange. It was also important that a common base of value could be established. In some economies, items such as teeth, feathers even stones served this purpose, but soon various metals, in particular gold and silver, established themselves as an accepted means of payment as well as a reliable storage of value. Trade was carried among people of Africa, Asia etc through this system. Coinswere initially minted from the preferred metal and in stable political regimes, the introduction of a paper form of governmental I.O.U. during the middle Ages also gained acceptance. This type of I.O.U. was introduced more successfully through force than through persuasion and is now the basis of todays modern currencies. Beforethe First World War, most Central banks supported their currencies with convertibility to gold. However, the gold exchange standard had its weaknesses of boom-bust patterns. As an economy strengthened, it would import a great deal from out of the country until it ran down its gold reserves required to support its money. As a result, the money supply would diminish, interest rates escalate and economic activity slowed to the point of recession. Ultimately, prices of commodities had hit bottom and it appearing attractive to other nations who would sprint into buying fury that injected the economy with gold until it increased its money supply, drive down interest rates and restore wealth into the economy. However, for this type of gold exchange, there was not necessarily a Centrals bank need for full coverage of the governments currency reserves. This did not occur very often, however when a group mindset fostered this disastrous notion of converting back to gold in mass, panic resulted in so-called Run on banks. The combination of a greater supply of paper money without the gold to cover led to devastating inflation and resulting political instability. The Great Depression and the removal of the gold standard in 1931 created a serious lull in FOREX market activity. From 1931 until 1973, the FOREX market went through a series of changes. These changes greatly affected the global economies at the time and speculation in the FOREX markets during these times was little. Inorder to protect local national interests, increased foreign exchange controls were introduced to prevent market forces from punishing monetary irresponsibility. Nearthe end of World War II, the Bretton Woods agreement was reached on the initiative of the USA in July 1944. The conference held in Bretton Woods, New Hampshire rejected John Maynard Keynes suggestion for a new world reserve currency in favor of a system built on the US Dollar. International institutions such as the IMF, The World Bank and GATT were created in the same period as the emerging victors of WWII searched for a way to avoid the destabilizing monetary crises leading to the war. The Bretton Woods agreement resulted in a system of fixed exchange rates that reinstated The Gold Standard partly, fixing the USD at $35.00 per ounce of Gold and fixing the other main currencies to the dollar, initially intended to be on a permanent basis. TheBretton Woods system came under increasing pressure as national economies moved in different directions during the 1960s. A number of realignments held the system alive for a long time but eventually Bretton Woods collapsed in the early 1970s following president Nixons suspension of the gold convertibility in August 1971. The dollar was not any longer suited as the sole international currency at a time when it was under severe pressure from increasing US budget and trade deficits. Thelast few decades have seen foreign exchange trading develop into the worlds largest global market. Restrictions on capital flows have been removed in most countries, leaving the market forces free to adjustforeign exchange ratesaccording to their perceived values. TheEuropean Economic Community introduced a new system of fixed exchange rates in 1979, the European Monetary System. The quest continued in Europe for currency stability with the 1991 signing of The Maastricht treaty. This was to not only fix exchange rates but also actually replace many of them with the Euro in 2002. London was, and remains the principal offshore market. In the 1980s, it became the key center in the Eurodollar market when British banks began lending dollars as an alternative to pounds in order to maintain their leading position in global finance. InAsia, the lack of sustainability of fixedforeign exchange rateshas gained new relevance with the events in South East Asia in the latter part of 1997, where currency after currency was devalued against the US dollar, leaving other fixed exchange rates in particular in South America also looking very vulnerable. Whilecommercial companies have had to face a much more volatile currency environment in recent years, investors and financial institutions have discovered a new playground. The FOREX exchange market initially worked under the central banks and the governmental institutions but later on it accommodated the various institutions. At present it also includes the dot com booms and the World Wide Web. The size of the FOREX market now dwarfs any other investment market. Theforeign exchange marketis the largest financial market in the world. Approximately 1.9 trillion dollars are traded daily in theforeign exchange market. It is estimated that more than USD 1,200 Billion are traded every day. It can be said easily that FOREX market is a lucrative opportunity for the modern day savvy investor CHAPTER 3: METHODS OF QUOTING EXCHANGE RATES There are two methods of quoting exchange rates. Direct method: For change in exchange rate if foreign currency is kept constant and home currency is kept variable, then the rates are stated be expressed in ‘Direct Method E.g. US $1 = Rs. 45.50. Indirect method: For change in exchange rate if home currency is kept constant and foreign currency is kept variable, then the rates are stated be expressed in ‘Indirect Method. E.g. Rs. 100 = US $ 2.5116 With the effect from August 2, 1993, all the exchange rates are quoted in direct method, i.e. US $1 = Rs. 45.50 GBP1 = Rs. 79.82 Method of Quotation In the Forex market there are two rates like one is for buying and one is for selling rates. This helps in eliminating the risk of being given bad rates i.e. if a party comes to know what the other party intends to do i.e., buy or sell, the former can take the latter for a ride. There are two parties in an exchange deal of currencies. To begin the deal one party asks for quote from another party and the other party quotes a rate. The party asking for a quote is known as ‘Asking party and the party giving quote is known as ‘Quoting party The advantages of two way quote. Ø It automatically ensures alignment of rates with market rates. Ø The market constantly makes available price for buyers and sellers. Ø Two-way price limits the profit margin of the quoting bank and comparison of one quote with another quote can be done immediately. Ø It is not necessary for any player in the market to show whether he intends to buy or sell foreign currency but this ensures that the quoting bank cannot take advantage by manipulating the prices. Ø Two-way quotes lend depth and liquidity to the market and which is very essential for efficient. Ø In two-way quotes for the first rate is the rate for buying and another rate is for selling. We should understand here that in India the banks which are authorized dealers, always quote rates. So the rates quote buying and selling is for banks will buy the dollars from him so while calculation the first rate will be used which is a buying rate, as the bank is buying the dollars from the exporter. Ø The same case will happen inversely with the importer, as he will buy the dollars from the banks and bank will sell dollars to importer. BASE CURRENCY Even if a foreign currency can be bought and sold in the same way as a commodity but theyre use as a minor difference in buying/selling of currency aid commodities. Unlike in case of commodities, in case of foreign currencies two currencies are involved so, it is necessary to know which the currency to be bought and sold is and the same one is known as ‘Base Currency. BID OFFER RATES The buying and selling rates are also referred to as the bid and offered rates. In the dollar exchange rates referred to above, namely, $ 1.6288/96, the quoting bank is offering (selling) dollars at $ 1.6288 per pound while bidding for them (buying) at $ 1.6296. So in this quotation the bid rate for dollars is $ 1.6296 while the offered rate is $ 1.6288. The bid rate for one currency is automatically the offered rate for the other. In the above example, the bid rate for dollars $ 1.6296, is also the offered rate of pounds. CROSS RATE CALCULATION US Dollar is the most trading currency in the forex market. In other words one support of most exchange trades is the US currency so margins between bid and offered rates are lowest quotations if the US dollar. The margins tend to widen for cross rates, as the following calculation would show. Consider the following structure: GBP 1.00 = USD 1.6288/96 EUR 1.00 = USD 1.1276/80 In this rate structure, we have to calculate the bid and offered rates for the euro in terms of pounds. Let us see how the offered (selling) rate for euro can be calculated. Starting with the pound, you will have to buy US dollars at the offered rate of USD 1.6288 and buy Euros against the dollar at the offered rate for euro at USD 1.1280. The offered rate for the euro in terms of GBP, therefore, becomes EUR (1.6288*1.1280), i.e. EUR 1.4441 per GBP, or more conventionally, GBP 0.6925 per euro. Similarly, the bid rate the euro can be seen to be EUR 1.4454 per GBP (or GBP 0.6918 per euro). Thus, the quotation becomes GBP 1.00 = EUR 1.4441/54. It will be eagerly noticed that in percentage terms the difference between the bid and offered rate is higher for the EUR: pound rate as compared to dollar: EUR or pound: dollar rates. CHAPTER 4: ADVANTAGES OF FOREX MARKET The Forex market is by far the largest and most liquid in the world but also day traders have up to now focused on looking for profits in mainly stock and futures markets. This is mainly due to the restrictive nature of bank-offered forex trading services. There are Advanced Currency Markets (ACM) offers both online and traditional phone forex-trading services to the small investor with minimum account opening values starting at 5000 USD. There are many advantages to trading spot foreign exchange as opposed to trading stocks and futures. These are the some advantages as under. Commissions: ACM offers foreign exchange trading commission free. This is in sharp contrast to (once again) what stock and futures brokers offer. A stock trade can cost anywhere between USD 5 and 30 per trade with online brokers and typically up to USD 150 with full service brokers. Futures brokers can charge commissions anywhere between USD 10 and 30 on a round turn basis. Margins requirements: ACM offers a foreign exchange trading with a 1% margin. In laymans terms that means a trader can control a position of a value of USD 1000000 with a mere USD 10000 in his account. By comparison, futures margins are not only constantly changing but are also often quite sizeable. Stocks are generally traded on a non-margined basis and when they are, it can be as restrictive as 50% or so. 24 hour market: Foreign exchange market trading occurs over a 24 hour period picking up in Asia around 24:00 CET Sunday evening and coming to an end in the United States on Friday around 23:00 CET. Although ECNs (electronic communications networks) exist for stock markets and futures markets (like Globex) that supply after hours trading, liquidity is often low and prices offered can often be uncompetitive. No Limit up / limit down: Futures markets contain certain constraints that limit the number and type of transactions a trader can make under certain price conditions. When the price of a certain currency rises or falls beyond a certain pre-determined daily level traders are restricted from initiating new positions and are limited only to liquidating existing positions if they so desire. The controlling of daily price volatility is the main mechanism but in effect since the futures currency market follows the spot market anyway the following day the futures market may undergo what is called a gap or we can say also in other words the futures price will re-adjust to the spot price the next day. In the OTC market no such trading constraints exist permitting the trader to truly implement his trading strategy to the fullest extent. Since a trader can protect his position from large unexpected price movements with stop-loss orders the high volatility in the spot market can be fully controlled. Sell before you buy: Equity brokers offer very restrictive short-selling margin requirements to customers. This means that a customer does not possess the liquidity to be able to sell stock before he buys it. When initiating a selling or buying position in the spot market a trader has exactly the same capacity in margin wise. In spot trading when you are selling one currency you are necessarily buying another. CHAPTER 5: FOREX EXCHANGE RISK The Risk Management Guidelines are primarily an accent of some good and prudent practices in exposure management. They have to be understood and slowly internalized and customized so that they yield positive reimbursement to the company over time. Any business is open to risks from movements in competitors prices, raw material prices, competitors cost of capital, foreign exchange rates and interest rates, all of which need to be (ideally) managed. Forex Risk Everywhere in the world risk is attached. Without risk there is no gain. Also the FOREX is not risk-free. Like if you are trading with substantial sums of money and there is always a possibility that trades will go against you.Also there are several trading tools so that can minimize your risk and with caution and above all education the FOREX trader can learn how to trade profitably and while minimizing losses. Risks Assuming you are dealing with a reputable broker and there are still risks to FOREX trading. Transactions are subject to unexpected rate changes, volatile markets and political events. Exchange Rate Risk: Exchange rate risk which refers to the fluctuations in the currency prices over a long trading period. The Prices can fall rapidly which are resulting in substantial losses unless and until stop loss orders are used when trading FOREX. And so stop loss orders specify that the open position should be closed if currency prices pass a predetermined level. Stop loss orders can be used in conjunction with limit orders to automate FOREX trading limit orders specify an open position should be closed at a specified profit target. Interest Rate Risk: It can result from discrepancies between the interest rates in the two countries which represented by the currency pair in a FOREX quote. This discrepancy can result in variations from the expected profit or loss of a particular FOREX transaction. Credit Risk: It is the possibility that when the deal is closed one party in a FOREX transaction may not honor their debt and this may happen when a bank or financial institution declares insolvency. The Credit risk is minimized by dealing on regulated exchanges which require members to be monitored for credit worthiness. Country Risk: Country risk is connected with governments that may become involved in foreign exchange markets by limiting the flow of currency. There is more country risk associated with exotic currencies than with major currencies that allow the free trading of their currency. Limiting Risk in your FOREX currency trading system FOREX trading can be very risky but there are ways to limit your risk and financial exposure. Every FOREX trader should have a trading strategy for knowing when to enter and when to ex Forex Market Case Study Analysis Forex Market Case Study Analysis Preface Just as stranger walk on path last arrive at their destination; project work is like a path after walking in which students can gain experience knowledge that can be stepping stone towards their success. It is such a work that enhances each every individual working capacity knowledge. The Importance of Thesis is that it is blending of both theoretical practical knowledge. Through the thesis, I got a golden change to have guidance under professionals senior executives which can definitely be a platform of establishing themselves. During my thesis work I visited AMA Library, Gujarat Chamber of Commerce and SBI which helped us a lot to gain information about Forex derivatives. This opportunist of thesis provided to me was not only a platform to develop enhance my appetite of learning but also served a fusion of the theoretical concept their practical application in corporate world. INTRODUCTION: To make a profit from the forex market of International trade you have a grip on mainly five key factors that affects a currency value. When making our trades we analyze five key factors which are as follows. Interest Rates Economic Growth Geo-Politics Trade and Capital Flows Merger and Acquisition Activity Interest Rates: Interest income and capital appreciation these two methods we can use to make profit from different in terms of countries interest rates. Interest Income. Every currency in the world comes attached with an interest rate that is set by its countrys central bank. All things being equal, you should always Buy currencies from countries with high-interest rates and Finance these purchases with currency from countries with low-interest rates. For example, as of the fall of 2006, interest rates in the United States stood at 5.25%, while rates in Japan were set at .25%. You could have taken advantage of this rate difference by borrowing a large sum of Japanese yen, exchanging it for US dollars and using the US dollars to purchase bonds or cds at the US 5.25% rate. In other words, you could have borrowed money at .25%, lent it out at 5.25%, and made a 5% return.Or you could save yourself all the hassle of becoming a money lender by simply trading the currency pairto affect the same transaction. Capital appreciation. Asa countrys interest rate rises, the value of the countrys currency also tends to rise this phenomenon gives you a chance to profit from your currencys increased value, or capital appreciation. In the case of the USD/JPY spread in 2005 and 2006, as the US interest rates stayed higher than Japans, the dollar continued to increase in value. Investors who traded yen for dollars gained from interest income as well as the US dollars capital appreciation. Economic Growth. Economic Growth is next factor when predicting a countrys currency movements.The stronger the economy, the greater the possibility that the central bank will raise its interest rates in order to the growth of inflation.Andthe higher a countrys interest rates, the bigger the likelihood those foreign investors will invest in a countrys financial markets.More foreign investors mean a greater demand for the countrys currency.A greater demand results in an increase in a currencys value. Hence economic growth inspires higher interest rates inspires more foreign investment inspires greater currency demand which inspires an increase in the currencys value. Geo-Politics. The currency market is the only market in the world that can be successfully traded on political news as well as economic releases.Because currencies representcountries rather than companies and any disturbance to the political landscape will oftentimes affect the direction in which the exchange rate moves. The key to understanding speculative behavior with respect to any geopolitical unrest is that speculators run first and ask questions later.In other words, whenever investors fear any threat to their capital, they will quickly retreat to the sidelines until they are certain that the political risk has disappeared.Therefore, the general rule of thumb in the currency market is thatpolitics almost always trumps economics. Trade and Capital Flows Before ever making a final prediction regarding the movement (or trend) of a particular currency you should determine whether or not the currency is dependent on its countrys capital or trade flow. Capital flow refers to the amount of investment a country receives from international sources. Trade flow is the income resulting from trade. Some countries can be very dependent their capital flow, while other countries are extremely sensitive to trade flows. Mergers and Acquisitions Merger and acquisition activity is the least important factor in determining the long-term direction of currencies. It can be the most powerful force in stagingnear-term currency moves.Merger and acquisition activity occurs when a company from one economic region wants to make a transnational transaction and buy a corporation from another country. For example, a European company wants to buy a Canadian asset for $20 billion, it would have to go into the currency market and acquire the currency to affect this transaction.Typically, these deals are not price sensitive, buttime sensitivebecause the acquirer may have a date by which the transaction is to be completed. Because of this underlying dynamic, merger and acquisition flow can exert a very strong temporary force on FX trading, sometimes skewing the natural course of currency flow for days or weeks. OBJECTIVE: Main Objective is for getting in depth knowledge of my topic. To critically analyze the Forex market of International trade. To analyze the five key factors that moves the Forex market and how to make profit out of them. To analyze the present data and forecasting a future movement of Forex market. METHODOLOGHY: * Introduction of the topic in detail. * For predict market movement I am using two methods like fundamental analysis and technical analysis. Technical analysis includes Candlestick Charts and Moving Averages (Simple and Exponential) SOURCES: Primary source  · Taking interview of the expertise in the Forex market. Secondary source  · Use Books, Magazines, Newspapers, Research papers and Internet as secondary sources LIMITATIONS:  · I have to follow only these five factors for move the Forex market.  · Interview is the only primary research in the Forex market.  · Inflation is the main factor which moves the Forex market but which is not included in the five factors.  · Merger and Acquisition is the least important factor. CHAPTER 1: INTRODUCTION OF FOREIGN EXCHANGE Foreign Exchange is the method or process of conversion/converting one currency into another currency. Currency becomes money and legal tender for a country. But for a foreign country it becomes the value as a commodity. Since the commodity has a value its relation with the other currency determines the exchange value of one currency with the other. It is just the game of supply and demand. For example, the US dollar in USA is the currency in USA but for India it is just like a commodity which has a value which varies according to demand and supply. Foreign exchange is one of the economic activity which deals with the means and methods by which rights to wealth expressed in terms of the currency of one country are converted into rights to wealth in terms of the current of another country. It involves the investigation of the method which exchanges the currency of one country for that of another. Foreign exchange can also be defined as the means of payment in which currencies are converted into each other and by which international transfers are made also the activity of transacting business in further means. Most countries of the world have their own currencies. The US has its dollar, France its franc, Brazil its cruziero and India has its Rupee. Trade between the countries involves the exchange of different currencies. The foreign exchange market is the market in which currencies are bought and sold against each other. It is the largest market in the world. Transactions conducted in foreign exchange markets determine the rates at which currencies are exchanged for one another, which in turn determine the cost of purchasing foreign goods financial assets. The most recent, bank of international settlement survey stated that over $900 billion were traded worldwide each day. During peak volume period, the figure can reach upward of US $2 trillion per day. The corresponding to 160 times the daily volume of NYSE. CHAPTER 2: ORIGIN OF THE FOREX MARKET The FOREX trading traces its history to centuries ago. Different currencies and the need of exchange them had existed since the Babylonians. They are credited with the first use of paper notes and receipts. In that time the value of goods were expressed in terms of other goods which were called as Barter system. The obvious limitations of such a system encouraged establishing more generally accepted mediums of exchange. It was important that a common base of value could be established. In some economies, items such as teeth, feathers even stones served this purpose, but soon various metals, in particular gold and silver, established themselves as an accepted means of payment as well as a reliable storage of value. Trade was carried among people of Africa, Asia etc through this system. Coins were initially minted from the preferred metal and in stable political regimes, the introduction of a paper form of governmental I.O.U. during the middle Ages also gained acceptance. This type of I.O.U. was introduced more successfully through force than through persuasion and is now the basis of todays modern currencies. Before the First World War, most Central banks supported their currencies with convertibility to gold. However, the gold exchange standard had its weaknesses of boom-bust patterns. As an economy strengthened, it would import a great deal from out of the country until it ran down its gold reserves required to support its money. As a result, the money supply would diminish, interest rates escalate and economic activity slowed to the point of recession. Ultimately, prices of commodities had hit bottom and it appearing attractive to other nations who would sprint into buying fury that injected the economy with gold until it increased its money supply, drive down interest rates and restore wealth into the economy. However, for this type of gold exchange, there was not necessarily a Centrals bank need for full coverage of the governments currency reserves. This did not occur very often, however when a group mindset fostered this disastrous notion of converting back to gold in mass, panic resulted in so-called Run on banks. The combination of a greater supply of paper money without the gold to cover led to devastating inflation and resulting political instability. The Great Depression and the removal of the gold standard in 1931 created a serious lull in FOREX market activity. From 1931 until 1973, the FOREX market went through a series of changes. These changes greatly affected the global economies at the time and speculation in the FOREX markets during these times was little. Inorder to protect local national interests, increased foreign exchange controls were introduced to prevent market forces from punishing monetary irresponsibility. Nearthe end of World War II, the Bretton Woods agreement was reached on the initiative of the USA in July 1944. The conference held in Bretton Woods, New Hampshire rejected John Maynard Keynes suggestion for a new world reserve currency in favor of a system built on the US Dollar. International institutions such as the IMF, The World Bank and GATT were created in the same period as the emerging victors of WWII searched for a way to avoid the destabilizing monetary crises leading to the war. The Bretton Woods agreement resulted in a system of fixed exchange rates that reinstated The Gold Standard partly, fixing the USD at $35.00 per ounce of Gold and fixing the other main currencies to the dollar, initially intended to be on a permanent basis. TheBretton Woods system came under increasing pressure as national economies moved in different directions during the 1960s. A number of realignments held the system alive for a long time but eventually Bretton Woods collapsed in the early 1970s following president Nixons suspension of the gold convertibility in August 1971. The dollar was not any longer suited as the sole international currency at a time when it was under severe pressure from increasing US budget and trade deficits. Thelast few decades have seen foreign exchange trading develop into the worlds largest global market. Restrictions on capital flows have been removed in most countries, leaving the market forces free to adjustforeign exchange ratesaccording to their perceived values. TheEuropean Economic Community introduced a new system of fixed exchange rates in 1979, the European Monetary System. The quest continued in Europe for currency stability with the 1991 signing of The Maastricht treaty. This was to not only fix exchange rates but also actually replace many of them with the Euro in 2002. London was, and remains the principal offshore market. In the 1980s, it became the key center in the Eurodollar market when British banks began lending dollars as an alternative to pounds in order to maintain their leading position in global finance. InAsia, the lack of sustainability of fixedforeign exchange rateshas gained new relevance with the events in South East Asia in the latter part of 1997, where currency after currency was devalued against the US dollar, leaving other fixed exchange rates in particular in South America also looking very vulnerable. Whilecommercial companies have had to face a much more volatile currency environment in recent years, investors and financial institutions have discovered a new playground. The FOREX exchange market initially worked under the central banks and the governmental institutions but later on it accommodated the various institutions. At present it also includes the dot com booms and the World Wide Web. The size of the FOREX market now dwarfs any other investment market. Theforeign exchange marketis the largest financial market in the world. Approximately 1.9 trillion dollars are traded daily in theforeign exchange market. It is estimated that more than USD 1,200 Billion are traded every day. It can be said easily that FOREX market is a lucrative opportunity for the modern day savvy investor SHORT INFO OF FOREX The history of FOREX trading was traced centuries ago. Different countries need different currencies and the need of exchange them had existed since the Babylonians. It is said that Babylonians were the first one who used paper notes and receipts. During those days, goods were exchanged for another goods based on the value of both the goods, which was known as barter system. But this system had some limitations and this lead to encourage establishing more generally accepted medium of exchange. It was also important that a common base of value could be established. In some economies, items such as teeth, feathers even stones served this purpose, but soon various metals, in particular gold and silver, established themselves as an accepted means of payment as well as a reliable storage of value. Trade was carried among people of Africa, Asia etc through this system. Coinswere initially minted from the preferred metal and in stable political regimes, the introduction of a paper form of governmental I.O.U. during the middle Ages also gained acceptance. This type of I.O.U. was introduced more successfully through force than through persuasion and is now the basis of todays modern currencies. Beforethe First World War, most Central banks supported their currencies with convertibility to gold. However, the gold exchange standard had its weaknesses of boom-bust patterns. As an economy strengthened, it would import a great deal from out of the country until it ran down its gold reserves required to support its money. As a result, the money supply would diminish, interest rates escalate and economic activity slowed to the point of recession. Ultimately, prices of commodities had hit bottom and it appearing attractive to other nations who would sprint into buying fury that injected the economy with gold until it increased its money supply, drive down interest rates and restore wealth into the economy. However, for this type of gold exchange, there was not necessarily a Centrals bank need for full coverage of the governments currency reserves. This did not occur very often, however when a group mindset fostered this disastrous notion of converting back to gold in mass, panic resulted in so-called Run on banks. The combination of a greater supply of paper money without the gold to cover led to devastating inflation and resulting political instability. The Great Depression and the removal of the gold standard in 1931 created a serious lull in FOREX market activity. From 1931 until 1973, the FOREX market went through a series of changes. These changes greatly affected the global economies at the time and speculation in the FOREX markets during these times was little. Inorder to protect local national interests, increased foreign exchange controls were introduced to prevent market forces from punishing monetary irresponsibility. Nearthe end of World War II, the Bretton Woods agreement was reached on the initiative of the USA in July 1944. The conference held in Bretton Woods, New Hampshire rejected John Maynard Keynes suggestion for a new world reserve currency in favor of a system built on the US Dollar. International institutions such as the IMF, The World Bank and GATT were created in the same period as the emerging victors of WWII searched for a way to avoid the destabilizing monetary crises leading to the war. The Bretton Woods agreement resulted in a system of fixed exchange rates that reinstated The Gold Standard partly, fixing the USD at $35.00 per ounce of Gold and fixing the other main currencies to the dollar, initially intended to be on a permanent basis. TheBretton Woods system came under increasing pressure as national economies moved in different directions during the 1960s. A number of realignments held the system alive for a long time but eventually Bretton Woods collapsed in the early 1970s following president Nixons suspension of the gold convertibility in August 1971. The dollar was not any longer suited as the sole international currency at a time when it was under severe pressure from increasing US budget and trade deficits. Thelast few decades have seen foreign exchange trading develop into the worlds largest global market. Restrictions on capital flows have been removed in most countries, leaving the market forces free to adjustforeign exchange ratesaccording to their perceived values. TheEuropean Economic Community introduced a new system of fixed exchange rates in 1979, the European Monetary System. The quest continued in Europe for currency stability with the 1991 signing of The Maastricht treaty. This was to not only fix exchange rates but also actually replace many of them with the Euro in 2002. London was, and remains the principal offshore market. In the 1980s, it became the key center in the Eurodollar market when British banks began lending dollars as an alternative to pounds in order to maintain their leading position in global finance. InAsia, the lack of sustainability of fixedforeign exchange rateshas gained new relevance with the events in South East Asia in the latter part of 1997, where currency after currency was devalued against the US dollar, leaving other fixed exchange rates in particular in South America also looking very vulnerable. Whilecommercial companies have had to face a much more volatile currency environment in recent years, investors and financial institutions have discovered a new playground. The FOREX exchange market initially worked under the central banks and the governmental institutions but later on it accommodated the various institutions. At present it also includes the dot com booms and the World Wide Web. The size of the FOREX market now dwarfs any other investment market. Theforeign exchange marketis the largest financial market in the world. Approximately 1.9 trillion dollars are traded daily in theforeign exchange market. It is estimated that more than USD 1,200 Billion are traded every day. It can be said easily that FOREX market is a lucrative opportunity for the modern day savvy investor CHAPTER 3: METHODS OF QUOTING EXCHANGE RATES There are two methods of quoting exchange rates. Direct method: For change in exchange rate if foreign currency is kept constant and home currency is kept variable, then the rates are stated be expressed in ‘Direct Method E.g. US $1 = Rs. 45.50. Indirect method: For change in exchange rate if home currency is kept constant and foreign currency is kept variable, then the rates are stated be expressed in ‘Indirect Method. E.g. Rs. 100 = US $ 2.5116 With the effect from August 2, 1993, all the exchange rates are quoted in direct method, i.e. US $1 = Rs. 45.50 GBP1 = Rs. 79.82 Method of Quotation In the Forex market there are two rates like one is for buying and one is for selling rates. This helps in eliminating the risk of being given bad rates i.e. if a party comes to know what the other party intends to do i.e., buy or sell, the former can take the latter for a ride. There are two parties in an exchange deal of currencies. To begin the deal one party asks for quote from another party and the other party quotes a rate. The party asking for a quote is known as ‘Asking party and the party giving quote is known as ‘Quoting party The advantages of two way quote. Ø It automatically ensures alignment of rates with market rates. Ø The market constantly makes available price for buyers and sellers. Ø Two-way price limits the profit margin of the quoting bank and comparison of one quote with another quote can be done immediately. Ø It is not necessary for any player in the market to show whether he intends to buy or sell foreign currency but this ensures that the quoting bank cannot take advantage by manipulating the prices. Ø Two-way quotes lend depth and liquidity to the market and which is very essential for efficient. Ø In two-way quotes for the first rate is the rate for buying and another rate is for selling. We should understand here that in India the banks which are authorized dealers, always quote rates. So the rates quote buying and selling is for banks will buy the dollars from him so while calculation the first rate will be used which is a buying rate, as the bank is buying the dollars from the exporter. Ø The same case will happen inversely with the importer, as he will buy the dollars from the banks and bank will sell dollars to importer. BASE CURRENCY Even if a foreign currency can be bought and sold in the same way as a commodity but theyre use as a minor difference in buying/selling of currency aid commodities. Unlike in case of commodities, in case of foreign currencies two currencies are involved so, it is necessary to know which the currency to be bought and sold is and the same one is known as ‘Base Currency. BID OFFER RATES The buying and selling rates are also referred to as the bid and offered rates. In the dollar exchange rates referred to above, namely, $ 1.6288/96, the quoting bank is offering (selling) dollars at $ 1.6288 per pound while bidding for them (buying) at $ 1.6296. So in this quotation the bid rate for dollars is $ 1.6296 while the offered rate is $ 1.6288. The bid rate for one currency is automatically the offered rate for the other. In the above example, the bid rate for dollars $ 1.6296, is also the offered rate of pounds. CROSS RATE CALCULATION US Dollar is the most trading currency in the forex market. In other words one support of most exchange trades is the US currency so margins between bid and offered rates are lowest quotations if the US dollar. The margins tend to widen for cross rates, as the following calculation would show. Consider the following structure: GBP 1.00 = USD 1.6288/96 EUR 1.00 = USD 1.1276/80 In this rate structure, we have to calculate the bid and offered rates for the euro in terms of pounds. Let us see how the offered (selling) rate for euro can be calculated. Starting with the pound, you will have to buy US dollars at the offered rate of USD 1.6288 and buy Euros against the dollar at the offered rate for euro at USD 1.1280. The offered rate for the euro in terms of GBP, therefore, becomes EUR (1.6288*1.1280), i.e. EUR 1.4441 per GBP, or more conventionally, GBP 0.6925 per euro. Similarly, the bid rate the euro can be seen to be EUR 1.4454 per GBP (or GBP 0.6918 per euro). Thus, the quotation becomes GBP 1.00 = EUR 1.4441/54. It will be eagerly noticed that in percentage terms the difference between the bid and offered rate is higher for the EUR: pound rate as compared to dollar: EUR or pound: dollar rates. CHAPTER 4: ADVANTAGES OF FOREX MARKET The Forex market is by far the largest and most liquid in the world but also day traders have up to now focused on looking for profits in mainly stock and futures markets. This is mainly due to the restrictive nature of bank-offered forex trading services. There are Advanced Currency Markets (ACM) offers both online and traditional phone forex-trading services to the small investor with minimum account opening values starting at 5000 USD. There are many advantages to trading spot foreign exchange as opposed to trading stocks and futures. These are the some advantages as under. Commissions: ACM offers foreign exchange trading commission free. This is in sharp contrast to (once again) what stock and futures brokers offer. A stock trade can cost anywhere between USD 5 and 30 per trade with online brokers and typically up to USD 150 with full service brokers. Futures brokers can charge commissions anywhere between USD 10 and 30 on a round turn basis. Margins requirements: ACM offers a foreign exchange trading with a 1% margin. In laymans terms that means a trader can control a position of a value of USD 1000000 with a mere USD 10000 in his account. By comparison, futures margins are not only constantly changing but are also often quite sizeable. Stocks are generally traded on a non-margined basis and when they are, it can be as restrictive as 50% or so. 24 hour market: Foreign exchange market trading occurs over a 24 hour period picking up in Asia around 24:00 CET Sunday evening and coming to an end in the United States on Friday around 23:00 CET. Although ECNs (electronic communications networks) exist for stock markets and futures markets (like Globex) that supply after hours trading, liquidity is often low and prices offered can often be uncompetitive. No Limit up / limit down: Futures markets contain certain constraints that limit the number and type of transactions a trader can make under certain price conditions. When the price of a certain currency rises or falls beyond a certain pre-determined daily level traders are restricted from initiating new positions and are limited only to liquidating existing positions if they so desire. The controlling of daily price volatility is the main mechanism but in effect since the futures currency market follows the spot market anyway the following day the futures market may undergo what is called a gap or we can say also in other words the futures price will re-adjust to the spot price the next day. In the OTC market no such trading constraints exist permitting the trader to truly implement his trading strategy to the fullest extent. Since a trader can protect his position from large unexpected price movements with stop-loss orders the high volatility in the spot market can be fully controlled. Sell before you buy: Equity brokers offer very restrictive short-selling margin requirements to customers. This means that a customer does not possess the liquidity to be able to sell stock before he buys it. When initiating a selling or buying position in the spot market a trader has exactly the same capacity in margin wise. In spot trading when you are selling one currency you are necessarily buying another. CHAPTER 5: FOREX EXCHANGE RISK The Risk Management Guidelines are primarily an accent of some good and prudent practices in exposure management. They have to be understood and slowly internalized and customized so that they yield positive reimbursement to the company over time. Any business is open to risks from movements in competitors prices, raw material prices, competitors cost of capital, foreign exchange rates and interest rates, all of which need to be (ideally) managed. Forex Risk Everywhere in the world risk is attached. Without risk there is no gain. Also the FOREX is not risk-free. Like if you are trading with substantial sums of money and there is always a possibility that trades will go against you.Also there are several trading tools so that can minimize your risk and with caution and above all education the FOREX trader can learn how to trade profitably and while minimizing losses. Risks Assuming you are dealing with a reputable broker and there are still risks to FOREX trading. Transactions are subject to unexpected rate changes, volatile markets and political events. Exchange Rate Risk: Exchange rate risk which refers to the fluctuations in the currency prices over a long trading period. The Prices can fall rapidly which are resulting in substantial losses unless and until stop loss orders are used when trading FOREX. And so stop loss orders specify that the open position should be closed if currency prices pass a predetermined level. Stop loss orders can be used in conjunction with limit orders to automate FOREX trading limit orders specify an open position should be closed at a specified profit target. Interest Rate Risk: It can result from discrepancies between the interest rates in the two countries which represented by the currency pair in a FOREX quote. This discrepancy can result in variations from the expected profit or loss of a particular FOREX transaction. Credit Risk: It is the possibility that when the deal is closed one party in a FOREX transaction may not honor their debt and this may happen when a bank or financial institution declares insolvency. The Credit risk is minimized by dealing on regulated exchanges which require members to be monitored for credit worthiness. Country Risk: Country risk is connected with governments that may become involved in foreign exchange markets by limiting the flow of currency. There is more country risk associated with exotic currencies than with major currencies that allow the free trading of their currency. Limiting Risk in your FOREX currency trading system FOREX trading can be very risky but there are ways to limit your risk and financial exposure. Every FOREX trader should have a trading strategy for knowing when to enter and when to ex