Principles of investments

"Emphasises asset allocation while presenting the practical applications of investment theory. The authors concentrate on the intuition and insights that will be useful to students throughout their careers as new ideas and challenges emerge from the financial marketplace. It provides a good foundation to understand the basic types of securities and financial markets as well as how trading in those markets is conducted. The Portfolio Management section is discussed towards the end of the course and supported by a web-based portfolio simulation with a hypothetical $100,000 brokerage account to buy and sell stocks and mutual funds. Students get a chance to use real data found in the Wall Street Survivor simulation in conjunction with the chapters on investments. This site is powered by StockTrak, the leading provider of investment simulation services to the academic community. Principles of Investments includes increased attention to changes in market structure and trading technology. The theory is supported by a wide range of exercises, worksheets and problems."--publisher website Contents: Investments: background and issues -- Asset classes and financial markets -- Securities markets -- Managed funds and investment management -- Risk and return: past and prologue -- Efficient diversification -- Capital asset pricing and arbitrage pricing theory -- The efficient market hypothesis -- Bond prices and yields -- Managing bond portfolios -- Equity valuation -- Macroeconomic and industry analysis -- Financial statement analysis -- Investors and the investment process -- Hedge funds -- Portfolio performance evaluation.

Ten basic factors to identify suitable subcontractors for construction projects

With unpredictable workloads and a need for a multitude of specialized skills, many main contractors rely heavily on subcontracting to reduce their risks (Bresnen et al., 1985; Beardsworth et al., 1988). This is especially the case In Hong Kong, where the average direct labour content accounts for only around 1% of the total contract sum (Lai, 1987). Extensive usage of subcontracting is also reported in many other countries, including the UK (Gray and Flanagan, 1989) and Japan (Bennett et al., 1987). In addition, and depending upon the scale and complexity of works, it is not uncommon for subcontractors to further sublet their works to lower tier(s) subcontractors. Richter and Mitchell (1982) argued that main contractors can obtain a higher profit margin by reducing their performance costs by subcontracting work to those who have the necessary resources to perform the work more efficiently and economically. Subcontracting is also used strategically to allow firms to employ a minimum work force under fluctuating demand (Usdiken and Sözen, 1985). Through subcontracting, the risks of main contractors are also reduced, as errors in estimating or additional costs caused by delays or extra labour requirements can be absorbed by the subcontractors involved (Woon and Ofori, 2000). Despite these benefits, the quality of work can suffer when incapable or inexperienced subcontractors are employed. Additional problems also exist in the form of bid shopping, unclear accountability, and high fragmentation (Palaneeswaran et al., 2002). A recent CIB TG 23 International Conference, October 2003, Hong Kong report produced by the Hong Kong Construction Industry Review Committee (CIRC) points to development of a framework to help distinguish between capable and incapable subcontractors (Tang, 2001). This paper describes research aims at identifying and prioritising criteria for use in such a framework.

A vibrational spectroscopic study of the arsenate mineral bayldonite (Cu,Zn)3Pb(AsO3OH)2(OH)2 : a comparison with other basic arsenates

We have studied the vibrational spectra of the mineral bayldonite, a hydroxy arsenate of copper and lead of formula Cu3Pb(AsO3OH)2(OH)2 from the type locality, the Penberthy Croft Mine, St Hilary, Mount's Bay District, Cornwall, England.and relate the spectra to the mineral structure. Raman bands at 896 and 838 cm-1are assigned to the (AsO4)3- ν1 symmetric stretching mode and the second to the (AsO4)3- ν3 antisymmetric stretching mode. It is noted that the position of the symmetric stretching mode is at a higher position than the antisymmetric stretching mode. It is proposed that the Raman bands at 889 and 845 cm-1 are symmetric and antisymmetric stretching modes of the (HOAsO3)2- units. Raman bands of bayldonite at 490 and 500 cm-1 are assigned to the (AsO4)3- ν4 bending modes. Raman bands for bayldonite are noted at 396, 408 and 429 cm-1 and are assigned to the (AsO4)3- ν2 bending modes. A comparison is made with spectra of the other basic copper arsenate minerals, namely cornubite, olivenite, cornwallite.

The increasing cost of the basic foods required to promote health in Queensland

Objective: To assess changes in the cost and availability of a standard basket of healthy food items (the Healthy Food Access Basket [HFAB]) in Queensland over time. Design and participants: A series of four cross-sectional surveys (in 1998, 2000, 2001 and 2004) describing the cost and availability of foods in the HFAB over time. In the latest survey, 97 Queensland food stores across the five Australian Bureau of Statistics remoteness categories were compared. Main outcome measures: Cost comparisons for HFAB items by remoteness category for the 97 stores surveyed in 2004; changes in cost and availability of foods in the 81 stores surveyed since 2000; comparisons of food prices in the 56 stores surveyed in 1998, 2000, 2001 and 2004. Results: In 2004, the Queensland mean cost of the HFAB was $395.28 a fortnight. The cost of the HFAB was 29.6%($113.89) higher in “very remote” areas than in “major cities” (P<0.001). Between 2001 and 2004, the Queensland mean cost of the HFAB increased by 14.0% ($48.45), while in very remote areas the cost increased by 18.0% ($76.93) (P<0.001). Since 2000, the annualised per cent increase in cost of the HFAB has been higher than the increase in Consumer Price Index for food in Brisbane. The cost of healthy foods has risen more than the cost of some less nutritious foods, so that the latter are now relatively more affordable. Conclusions: Consumers, particularly those in very remote locations, need to pay substantially more for basic healthy foods than they did a few years ago. Higher prices are likely to be a barrier to good health among people of low socioeconomic status and other vulnerable groups. Interventions to make basic healthy food affordable and accessible to all would help reduce the high burden of chronic disease.

Festival of Dangerous Ideas: ‘Are some Aboriginals more Aboriginal than others?’

"White Australia has always had a view on what makes a 'real' Aboriginal person. Andrew Bolt is the merely the latest in a long line of commentators who have put forward their views about 'black' and 'white' Aboriginals. Spread across a continent after 200 years of colonisation, Aboriginal people are diverse in a way that is at odds with media stereotypes of 'traditional' Aboriginal people living in troubled remote communities. At a crucial time for recognition and reconciliation, does 'white' or 'black' matter? Who speaks for Aboriginal people and defines who they are?"--Festivals, Talks & Ideas website

Conditions for Successful Reforms : Characteristics of the Organisation and Culture in Chinese Schools in a Global Context

Reforms to the basic education system in China have reflected an increasing awareness of and openness to new ideas from the global education sphere. Many of the concepts involved in the development and implementation of these reforms, including adopting holistic perspectives of student development; decentralising school governance to facilitate local decision-making to address local needs; and, an increased focus on practical, lifelong learning for all involved in schools, have been promoted in research and policies throughout the world. While working within this global context, the system of schooling in China has retained a unique character that is quite different from education in the West. Drawing on an international project on school transformation, this chapter aims to examine how five secondary schools in Chongqing, a municipality in Southwestern China, have harnessed and aligned their resources to provide effective school governance following the curriculum reforms. Furthermore, the chapter will examine the similarities and differences between the organisational structures and cultures of these schools in China and successful schools in Australia, England, Finland, Wales and the United States.

Evolutionary Perspectives

The standard approach to industrial economics starts with the industry’s basic conditions, then runs through the structure–conduct–performance paradigm of industrial organization, and finally considers government regulation and policy. Most creative industries segments have been studied in this way, for example in Albarran (2002) and Caves (2000). These approaches use standard economic analysis to explain the particular properties and characteristics of a specific industrial sector. The overview presented here is different again. It focuses on the creative industries and examines their economic effect, specifically their contribution to economic evolu -tion. This is an evolutionary systems approach to industrial analysis, where we seek to understand how a sector fits into a broader system of production, consumption, technology, trade and institutions. The evolutionary approach focuses on innovation, economic growth and endogenous transformation. So, rather than using economics to explain static or industrial-organization features of the creative industries, we are using an open systems view of the creative industries to explain dynamic ‘Schumpeterian’ features of the broader economy. The creative industries are drivers of economic transformation through their role in the origination of new ideas, in consumer adoption, and in facilitating the institutional embedding of new ideas into the economic order. This is not a novel idea, as economists have long understood that particular activities are drivers of economic growth and development, for example research and development, and also that particular sectors are instrumental to this process, for example high-technology sectors. What is new is the argument that cultural and creative sectors are also a key part of this process of economic evolution. We will review the case for that claim, and outline purported mechanisms. We will also consider why policy settings in the creative industries should be more in line with innovation and growth policy than with industry policy.

Design Minds Refresh Toolkit

The Design Minds Refresh Toolkit was one of six K7-12 secondary school design toolkits commissioned by the State Library of Queensland (SLQ) Asia Pacific Design Library (APDL), to facilitate the delivery of the Stage 1 launch of its Design Minds online platform (www.designminds.org.au) partnership initiative with Queensland Government Arts Queensland and the Smithsonian Cooper-Hewitt National Design Museum, on June 29, 2012. Design Minds toolkits are practical guides, underpinned by a combination of one to three of the Design Minds model phases of ‘Inquire’, ‘Ideate’ and ‘Implement’ (supported by at each stage with structured reflection), to enhance existing school curriculum and empower students with real life design exercises, within the classroom environment. Toolkits directly identify links to Naplan, National Curriculum, C2C and Professional Standards benchmarks, as well as the student capabilities of successful and creative 21st century citizens they seek to engender through design thinking. Inspired by ideas from a design project for second year Interior Design students at QUT School of Design, this toolkit explores, through five distinct exercises, different design tools and ways to approach the future design of environments (bathrooms) to facilitate the daily washing ritual, while addressing diverse and changing social, cultural, technological and environmental challenges. The Design Minds Refresh Toolkit particularly aims to promote ‘Lateral Thinking’ attitudes and empathy as an approach to create unusual and sustainable solutions to future problems that may affect our daily behavioural routines, and the spaces that facilitate them. More generally, it aims to facilitate awareness in young people, of the role of design in society and the value of design thinking skills in generating strategies to solve basic to complex systemic challenges, as well as to inspire post-secondary pathways and idea generation for education. The toolkit encourages students and teachers to develop sketching, making, communication, presentation and collaboration skills to improve their design process, as well as explore further inquiry (background research) to enhance the ideation exercises. Exercise 1 focuses on the ‘Inquire’ and ‘Ideate’ phases, Exercise 2 and 3 build on ideation skills, and Exercise 4 and 5 concentrate on the ‘Implement’ phase. Depending on the intensity of the focus, the unit of work could be developed over a 4-5 week program (approximately 10-12 x 60 minute lessons/workshops) or as smaller workshops treated as discrete learning experiences. The toolkit is available for public download from http://designminds.org.au/refresh/ on the Design Minds website. Exercise 2 (Other People’s Shoes) and Exercise 3 (The Future Bathroom) of the toolkit were used as content for the inaugural Design Minds Professional Development Workshop on June 28, 2012 to pre-launch the website to Queensland teachers.

Non-formal techniques for early assessment of design ideas for services

Designing systems for multiple stakeholders requires frequent collaboration with multiple stakeholders from the start. In many cases at least some stakeholders lack a professional habit of formal modeling. We report observations from student design teams as well as two case studies, respectively of a prototype for supporting creative communication to design objects, and of stakeholder-involvement in early design. In all observations and case studies we found that non-formal techniques supported strong collaboration resulting in deep understanding of early design ideas, of their value and of the feasibility of solutions.

Accelerometer based performance assessment of basic routines in classical ballet

Classical ballet requires dancers to exercise significant muscle control and strength both while stationary and when moving. Following the Royal Academy of Dance (RAD) syllabus, 8 male and 27 female dancers (aged 20.2 + 1.9 yr) in a fulltime university undergraduate dance training program were asked to stand in first position for 10 seconds and then perform 10 repeats of a demi-plié exercise to a counted rhythm. Accelerometer records from the wrist, sacrum, knee and ankle were compared with the numerical scores from a professional dance instructor. The sacrum mounted sensor detected lateral tilts of the torso in dances with lower scores (Spearman’s rank correlation coefficient r = -0.64, p < 0.005). The RMS acceleration amplitude of wrist mounted sensor was linearly correlated to the movement scores (Spearman’s rank correlation coefficient r = 0.63, p < 0.005). The application of sacrum and wrist mounted sensors for biofeedback during dance training is a realistic, low cost option.

Thesis Eleven's 'Festival of Ideas' : a report on 'what's wrong with television'

This article reports on the public lecture given by Associate Professor Ron Jacobs from the State University of New York in June, 2011. The lecture titled 'What’s wrong with television: media narratives of economic crisis', was held at The University of Melbourne in association with Thesis Eleven’s ‘Festival of Ideas’. In his talk, Jacobs discussed the ways in which media narratives inform and shape social life and described how major economic, social and political events are represented and re-told in the making of news.

Basic finance made accessible in Excel 2007 : "the big 5, plus 2"

The basic principles and equations are developed for elementary finance, based on the concept of compound interest. The five quantities of interest in such problems are present value, future value, amount of periodic payment, number of periods and the rate of interest per period. We consider three distinct means of computing each of these five quantities in Excel 2007: (i) use of algebraic equations, (ii) by recursive schedule and the Goal Seek facility, and (iii) use of Excel's intrinsic financial functions. The paper is intended to be used as the basis for a lesson plan and contains many examples and solved problems. Comment is made regarding the relative difficulty of each approach, and a prominent theme is the systematic use of more than one method to increase student understanding and build confidence in the answer obtained. Full instructions to build each type of model are given and a complete set of examples and solutions may be downloaded (Examples.xlsx and Solutions.xlsx).

Teaching basic finance with Excel, and without pain

The five quantities of interest in elementary finance problems are present value, future value, amount of periodic payment, number of periods and the rate of compound interest per period. A recursive approach to computing each of these five quantities in a modern version of Excel, for the case of ordinary annuities, is described. The aim is to increase student understanding and build confidence in the answer obtained, and this may be achieved with only linear relationships and in cases where student knowledge of algebra is essentially zero. Annuity problems may be solved without use of logarithms and black-box intrinsic functions; these being used only as check mechanisms. The author has had success with the method at Bond University and surrounding high schools in Queensland, Australia.

Plasma Nanoscience : Basic Concepts and Applications of Deterministic Nanofabrication

Filling the need for a single work specifically addressing how to use plasma for the fabrication of nanoscale structures, this book is the first to cover plasma deposition in sufficient depth. The author has worked with numerous R&D institutions around the world, and here he begins with an introductory overview of plasma processing at micro- and nanoscales, as well as the current problems and challenges, before going on to address surface preparation, generation and diagnostics, transport and the manipulation of nano units.

Conservation communication camp : come with ideas, leave with a plan

IUCN´s core work involves generating knowledge and tools to influence policy and practice for nature conservation. Whilst it appears that we are collectively making progress in some areas, we acknowledge the need to improve our communication processes and practices to ´move to action´ in this regard. We need to extend the influence of the science and the knowledge beyond the documents to achieve effective impact and action. The training course will focus on the process of getting the conservation messages out to a wider audience. This interactive and participatory training course will develop the skills and knowledge needed to communicate effective conservation messages for a range of IUCN internal and external audiences. The course will cover: • what is communication for conservation? • the communication planning process (developing your communication objectives) • identifying and understanding your target audiences • developing your conservation message • choosing your communication media and • evaluating the effectiveness of your communication strategies. A unique feature of the training course will be the use of Web 2.0 tools in innovative conservation communications e.g. use of social media in concept branding and social marketing. In the spirit of the Forum´s objective of ´Sharing know how´, each participant will bring a current conservation issue to the training course and will leave with their own communication plan. Potentially, the training course adopts a cross-thematic approach as the issues addressed could be drawn from any of the IUCN´s program themes. Primarily though, the training course´s best fit is with the ´Valuing and Conserving Biodiversity´ theme since it will provide concrete and pragmatic solutions to enhancing the implementation of conservation measures through participatory planning and capacity building.