The impact of liquidity on senior credit index spreads during the subprime crisis

This paper examines the effects of liquidity during the 2007–09 crisis, focussing on the Senior Tranche of the CDX.NA.IG Index and on Moody's AAA Corporate Bond Index. It aims to understand whether the sharp increase in the credit spreads of these AAA-rated credit indices can be explained by worse credit fundamentals alone or whether it also reflects a lack of depth in the relevant markets, the scarcity of risk-capital, and the liquidity preference exhibited by investors. Using cointegration analysis and error correction models, the paper shows that during the crisis lower market and funding liquidity are important drivers of the increase in the credit spread of the AAA-rated structured product, whilst they are less significant in explaining credit spread changes for a portfolio of unstructured credit instruments. Looking at the experience of the subprime crisis, the study shows that when the conditions under which securitisation can work properly (liquidity, transparency and tradability) suddenly disappear, investors are left highly exposed to systemic risk.

Biology curriculum for the senior secondary level in Victoria, Australia

In Victoria, the Victorian Certificate of Education(VCE) is most common among certificates required to apply any tertiary institute in the Victoria State. Thus, the number of students who take the VCE course is larger than other courses in senior secondary schools. VCE Biology is one of the subjects in natural science area. The subject consists of 4 units: Unit 1 is ecology oriented, Unit 2 is cell biology oriented, Unit 3 is physiology and developmental biology oriented, and Unit 4 is systematics, genetics and evolution oriented. One of the distinctive features of the VCE Biology is its assignment. Three or four tasks are prepared in each unit of the subject. In order to complete the assignment, students should carry out some laboratory work, field studies and investigations to collect data and information from a number of sources. They also need to analyze data to write some reports. In Unit 3 and 4, Common Assessment Tasks(CATs), which include writing report and paper test, and prepared. Another distinctive feature of the curriculum is that there are some applied biological aspects in the contents of each unit.

Prevalence of genital human papillomavirus DNA in a sample of senior school-aged women in the Australian Capital Territory

Background: A strong association between persistent infection with oncogenic types of human papillomavirus (HPV) and cervical cancer is well established. Small numbers of international studies examining adolescent HPV infection and the risk factors associated are published, but there is currently no evidence on the prevalence and risk factors for HPV in an Australian, sexually active female adolescent population. Methods: To provide prevalence and risk factors for HPV in a female sexually active, senior high school population in the Australian Capital Territory (ACT), a convenience sample of 161, 16–19-year-old females attending a senior high school was evaluated. The sample formed part of a larger sample recruited for a study of sexually transmitted infections and blood-borne viruses in senior high school students. A clinical record was used to collect information about sexual and other risk behaviours, while self-collected vaginal swabs were tested for HPV DNA detection and genotyping using polymerase chain reaction. Results: The prevalence of HPV DNA in this sample overall was 11.2%, with multiple genotypes in 38%. No statistically significant associations were found between HPV DNA and the number of male partners, age of coitarche, time since first sexually active, condom use, smoking or alcohol intake. Conclusions: This is the first Australian study that has examined the prevalence and risk factors for genital HPV in this demographic group. The prevalence of HPV infection is slightly lower than reported in similar age groups overseas and is lower than other Australian studies in older women and those attending sexual health centres. Of HPV-positive young women, high-risk genotypes were found in over half, with more than one-third of HPV existing as multiple genotypes. Large community-based prevalence studies are needed to guide the development of recommendations for the vaccination of young women against HPV and to support other health promotion initiatives.

Re-engaging learners in schooling through applied learning reform : exploring the Victorian Certificate of Applied Learning as an 'alternative' senior schooling pathway in Australia

The Victorian Certificate of Applied Learning (VCAL) emerged in Australia to provide more relevant curriculum programs that would cater for increasing retention rates of high school students. It is also an example of the ‘new’ learning arising from contemporary debates and reforms that highlight inadequacies of the more traditional modes of learning. This book focuses on the pedagogical and sociological issues emerging from the VCAL being introduced as an ‘alternative’ learning pathway for ‘at-risk’ students within a traditional high school culture. Through the eyes of an insider- researcher, the book argues for a deeper understanding of applied learning as a ‘re-engaging’ pedagogy by studying the schooling experience of VCAL students and teachers. The book concludes that traditional modes of school teaching contribute to the social construction of ‘at-risk’ students and argues that high school pedagogy needs to be redefined as a cultural phenomenon requiring teachers to be reflexively aware of their role in bridging the gap between students’ life experiences and the curriculum.

Communicative language teaching of a foreign language : the Indonesian 1984 senior high school English syllabus

This thesis examines the implementation of the 1984 English syllabus, which is claimed to be communicative. The study was conducted in three government Senior High Schools in Singaraja, northern Bali. The results indicate that the implementation of the Communicative Approach has been constrained by the limited resources, inadequate professional development and the national examination system, the EBTANAS.