Chinese Basic Pension Substitution Rate: A Monte Carlo Demonstration of the Individual Account Model

At the end of 2005, the State Council of China passed ”The Decision on adjusting the Individual Account of Basic Pension System”, which adjusted the individual account in the 1997 basic pension system. In this essay, we will analyze the adjustment above, and use Life Annuity Actuarial Theory to establish the basic pension substitution rate model. Monte Carlo simulation is also used to prove the rationality of the model. Some suggestions are put forward associated with the substitution rate according to the current policy.

Pupils' Interaction with the Exhibits According to the Learning Behaviour Model

Science centres are one of the best opportunities for informal study of natural science. There are many advantages to learn in the science centres compared with the traditional methods: it is possible to motivate and supply visitors with the social experience, to improve people’s understandings and attitudes, thereby bringing on and attaching wider interest towards natural science. In the science centres, pupils show interest, enthusiasm, motivation, self-confidence, sensitiveness and also they are more open and eager to learn. Traditional school-classes however mostly do not favour these capabilities. This research presents the qualitative study in the science centre. Data was gathered from observations and interviews at Science North science centre in Canada. Pupils’ learning behaviours were studied at different exhibits in the science centre. Learning behaviours are classified as follows: labels reading, experimenting with the exhibits, observing others or exhibit, using guide, repeating the activity, positive emotional response, acknowledged relevance, seeking and sharing information. In this research, it became clear that in general pupils do not read labels; in most cases pupils do not use the guides help; pupils prefer exhibits that enable high level of interactivity; pupils display more learning behaviours at exhibits that enable a high level of interactivity.