Most economists would agree that due to the credit crunch, global markets are facing potential collapse (Stiglitz, 2008; Monbiot, 2007). As we know, our current recession began in the USA where banks got into the habit of granting mortgages to lenders unable to pay them back. This created a liquidity crisis in the country which banks and government were unable to resolve, and soon these economic difficulties spread to the rest of the world (BBC News, 2008).
Therefore this crisis causes the interest rates on mortgages have rocketed, so the prices of every thing will be increased.
In this essay, I will argue that we have to radically assess the 20th Century philosophy of free trade and globalisation due to the failures we've experienced recently in global markets. I will begin by looking at how this philosophy was based on an erroneous logic and then go on to describe the ways in which it has set us back with regard to financial efficiency and growth. I will then go on to discuss the ways in which I think this current crisis will affect future research in my subject area International Banking and Finance.
Today my self study was academic vocabulary:
I found the academic vocabulary in the English Langue learning section on the first floor of the library, and I found some vocabulary related to my subject, such as,
Global trade: International business
Short-selling: dealers borrow stock they hope will drop in value
Underprivileged countries: developing countries
Loan: a person or company who gives money to other person
Credit crunch: meaning a severe shortage of money or credit
Wednesday, 14 January 2009
Today my self study was conversation club:
Today we talked about some question such as, “Do you have a Royal family in your country?” and “What do you know about the British Royal family? “ So we discussed these questions in each group. Some of countries have a Queen or King and some countries are republic and they have president and they are selected by population, and each four years they are changed. After that we talked about culture of our country.
At the conversation the teacher gave us an article of news paper for our self study. The summarises of this article consists of: this article belongs Metro news paper and it is about a mistake of Prince Harry, He said to his friend who comes from Pakistan “paki”. He must apologise to people, but he dose not know the British people forgive he or not.
Today we talked about some question such as, “Do you have a Royal family in your country?” and “What do you know about the British Royal family? “ So we discussed these questions in each group. Some of countries have a Queen or King and some countries are republic and they have president and they are selected by population, and each four years they are changed. After that we talked about culture of our country.
At the conversation the teacher gave us an article of news paper for our self study. The summarises of this article consists of: this article belongs Metro news paper and it is about a mistake of Prince Harry, He said to his friend who comes from Pakistan “paki”. He must apologise to people, but he dose not know the British people forgive he or not.
Monday, 12 January 2009
Today my self study was some information about introduction:
I was some research about how we can write introduction, so I surfed in the Internet and used this site http://www.uefap.com/writing/writfram.htm . It explains the process of introduction and it says every part must have arguments without repetition and background of your essay.Also arguments must be clear , and try to put ideas with owns.Then you should try to explain why you are writing this essay.
All of essays consist of preliminaries (title page ) and main text ( introduction, main body and conclusion) end matter( references ).
I was some research about how we can write introduction, so I surfed in the Internet and used this site http://www.uefap.com/writing/writfram.htm . It explains the process of introduction and it says every part must have arguments without repetition and background of your essay.Also arguments must be clear , and try to put ideas with owns.Then you should try to explain why you are writing this essay.
All of essays consist of preliminaries (title page ) and main text ( introduction, main body and conclusion) end matter( references ).
Thursday, 8 January 2009
Today my self study was reading :
I read “FEARS OF NEW PRICES SURGE" in the Metro news paper .It was about business and finance. The main idea that comes out the VAT has been decreasing two percent so it is good for consumers, and the non-food prices cut deeply, falling by 2.5 percent month on month.
Some of the words I checked in the dictionary with their pronunciation. such as, surge = increase of value , retailer = sale goods to customer
I read “FEARS OF NEW PRICES SURGE" in the Metro news paper .It was about business and finance. The main idea that comes out the VAT has been decreasing two percent so it is good for consumers, and the non-food prices cut deeply, falling by 2.5 percent month on month.
Some of the words I checked in the dictionary with their pronunciation. such as, surge = increase of value , retailer = sale goods to customer
Wednesday, 7 January 2009
Over view of my subject (Accounting):
It is generally agreed that Accounting is the language of business and economic and it is one of the important job in the world. For the reason that it records how much you can earn or how much is the interest of businesses in a year. All of banks or companies need accountants as a daily because it helps them to make a decision about their finance or financial system base on their accounting, as a result of that analyses costs and asses. Moreover it consists of the balance sheets of their statements. They need accounting because it is the only way for business to grow up or they can open their doors to the world. The accounting knowledge assists to governments or corporations that they can increase their business in the international market, there fore they can recognize what business they are in. Otherwise, they do not know how much they have spent. However, others would argue that companies do not need to understand accounting or have accounting departments because business users can use online accounting and they find it easy. As this way is cheaper than they employ somebody.
It is generally agreed that Accounting is the language of business and economic and it is one of the important job in the world. For the reason that it records how much you can earn or how much is the interest of businesses in a year. All of banks or companies need accountants as a daily because it helps them to make a decision about their finance or financial system base on their accounting, as a result of that analyses costs and asses. Moreover it consists of the balance sheets of their statements. They need accounting because it is the only way for business to grow up or they can open their doors to the world. The accounting knowledge assists to governments or corporations that they can increase their business in the international market, there fore they can recognize what business they are in. Otherwise, they do not know how much they have spent. However, others would argue that companies do not need to understand accounting or have accounting departments because business users can use online accounting and they find it easy. As this way is cheaper than they employ somebody.
Conversation class:
Today we talked about some poems. At first the teacher ask some question about the poems and then we have to write the answers in the piece of paper , after that we discussed our answers with our partner . Second the teacher gave a different poems to each student next we have to find different vocabulary in the dictionary and write the meaning of the words in own words and every student must explain the own poems to other students.
My poems was about some one who loves his Friend and he wants to show her to everyone and go every where together, but he couldn't.
Today we talked about some poems. At first the teacher ask some question about the poems and then we have to write the answers in the piece of paper , after that we discussed our answers with our partner . Second the teacher gave a different poems to each student next we have to find different vocabulary in the dictionary and write the meaning of the words in own words and every student must explain the own poems to other students.
My poems was about some one who loves his Friend and he wants to show her to everyone and go every where together, but he couldn't.
Writing:
What were some your own achivements in 2008? What would you like to do in 2009?
In my opinion, most of people have own achievements in their life and this fact depends on how much you try to get what you want, when you do not have any attainments in your life you disappointment from life so every body must have a goal and put a lot of effort to get that.I think my best achievement in 2008 has gotten to get the UK's visa, because I want to continue my study, because this fact helps me to find a good job .Inanition when I work in a good position ,it assists me to get a lot of high-quality information .Moreover I can provide luxury life for myself. I know that if I need every think my parents without any hesitated they help me but I want to make my own life besides I would like to live independence. Therefore I have to effort that to get my aim.
What were some your own achivements in 2008? What would you like to do in 2009?
In my opinion, most of people have own achievements in their life and this fact depends on how much you try to get what you want, when you do not have any attainments in your life you disappointment from life so every body must have a goal and put a lot of effort to get that.I think my best achievement in 2008 has gotten to get the UK's visa, because I want to continue my study, because this fact helps me to find a good job .Inanition when I work in a good position ,it assists me to get a lot of high-quality information .Moreover I can provide luxury life for myself. I know that if I need every think my parents without any hesitated they help me but I want to make my own life besides I would like to live independence. Therefore I have to effort that to get my aim.
Subscribe to:
Posts (Atom)