Learning Activities with Semantic. Hypermedia in Higher Education

The increasing use of information and communication technologies (ICT) in diverse professional and personal contexts calls for new knowledge, and a set of abilities, competences and attitudes, for an active and participative citizenship. In this context it is acknowledged that universities have an important role innovating in the educational use of digital media to promote an inclusive digital literacy. The educational potential of digital technologies and resources has been recognized by both researchers and practitioners. Multiple pedagogical models and research approaches have already contributed to put in evidence the importance of adapting instructional and learning practices and processes to concrete contexts and educational goals. Still, academic and scientific communities believe further investments in ICT research is needed in higher education. This study focuses on educational models that may contribute to support digital technology uses, where these can have cognitive and educational relevance when compared to analogical technologies. A teaching and learning model, centered in the active role of the students in the exploration, production, presentation and discussion of interactive multimedia materials, was developed and applied using the internet and exploring emergent semantic hypermedia formats. The research approach focused on the definition of design principles for developing class activities that were applied in three different iterations in undergraduate courses from two institutions, namely the University of Texas at Austin, USA and the University of Lisbon, Portugal. The analysis of this study made possible to evaluate the potential and efficacy of the model proposed and the authoring tool chosen in the support of metacognitive skills and attitudes related to information structuring and management, storytelling and communication, using computers and the internet.

On project finance and the first road concession in Portugal

In broad sense, Project Financing1 as a mean of financing large scale infrastructural projects worldwide has had a steady growth in popularity for the last 20 years. This growth has been relatively unscathed from most economic cycles. However in the wake of the 2007 systemic Financial Crisis, Project Financing was also in trouble. The liquidity freeze and credit crunch that ensued affected all parties involved. Traditional Lenders, of this type of financial instrument, locked-in long-term contractual obligations, were severely hit with scarcity of funding compounded by rapidly increasing cost of funding. All the while, Banks were “rescued” by the concerted actions of Central Banks and other Multi-Lateral Agencies around the world but at the same time “stressed” by upcoming regulatory effort (Basel Committee). This impact resulted in specific changes to this type of long-term financing. Changes such as Commercial Banks’ increased risk aversion; pricing increase and maturities decrease of credit facilities; enforcement of Market Disruption Event clauses; partial responsibility for project risk by Multilateral Agencies; and adoption of utility-like availability payments in other industrial sectors such as transportation and even social infrastructure. To the extent possible, this report is then divided in three parts. First, it begins with a more instructional part, touching academic literature (theory) and giving the Banks perspective (practice), but mostly as an overview of Project Finance for awareness’ sake. The renowned Harvard Business School professor – Benjamin Esty, states2 that Project Finance is a “relatively unexplored territory for both empirical and theoretical research” which means that academic research efforts are lagging the practice of Project Finance. Second, the report presents a practical case regarding the first Road Concession in Portugal in 1998 ending with the lessons learned 10 years after Financial Close. Lastly, the report concludes with the analysis of the current trends and changes to the industry post Financial Crisis of the late 2000’s. To achieve this I’ll reference relevant papers, books on the subject, online articles and my own experience in the Project Finance Department at a major Portuguese Investment Bank. Regarding the latter, with the signing of a confidentiality agreement, I’m duly omitting sensitive and proprietary bank information.