Education is of great importance and is currently given more value than it was about a hundred years ago. Every parent in this day and age believes that the best lifelong asset that he or she can give to their child is education. Unlike in the old days, education is currently taking place in modernized institutions where the mode of instruction is also modernized.
There is the use of organized syllabus for various subjects. Learning takes place chronologically from one grade to the next. The student has the freedom to choose the subjects that suite their future careers. They also take part in co-curricular activities to exploit their talents.
A school is an institution in which teaching and learning take place concurrently. Teaching is basically known as the art of imparting knowledge and skills to individuals so as to mould a positively minded and goal oriented person that the society can turn to or rely on for the sake of its prosperity and development. Every school setting tries to bring out the best in their students.
Schools make curricular that offer the type of education that meets the communities’ needs. For example, all or most communities and thus nations at large require professionals like teachers, doctors, lawyers actors just to mention but a few. These professionals also need to be people who have values such as high self esteem.
From the Maslow’s hierarchy of needs, high esteem is experienced when a person feels valued, accepted, respected and with a sense of belonging whether it is at work, in school or while pursuing a hobby (Kreitner, 2006, p. 12). All school settings should be able to provide all these to their students so that in the end they not only produce a knowledgeable person but also a socially fit person.
This paper bases its discussion on the article known as the artifact. The paper will help its readers to see how schools have come up with their culture and other traditions, as well as its effects on teachers. It also examines the effect of the artifact on the learning of the student and other workers as well as its effects in future development.
The document looks at how the school and its professional and non professional leaders form the basis of professional society. It continues to say that a proficient society is a unique part of the communal asset which is partly achieved by rooting and using certain structural methods of teaching by the schools’ concerned leaders.
Get your 100% original paper on any topic done in as little as 3 hours Learn More In the article we find out that the artifact instilled the feeling of respect and trustworthiness among the students because it allowed the students to take part in many activities that saw them interact with different people in the community. This also enabled them to have a sense of belonging and helped them to become socially fit people. This was achieved by the leaders in the school. Normally the school is made up of two types of leaders.
The first group of leaders includes leaders who affect the life of students indirectly. They make and put into practice the rules, regulations and activities to be done in the school but have no direct contact with the students. This group of leaders includes administrators among others. The second group of leaders includes leaders who have direct influence on the students.
They meet more frequently and often on a daily basis with the students. They give knowledge to the students, instill confidence in them and help them view life from a wider perspective (Halverson, 2004). These are the teachers. The teachers have the duty of exploring new thoughts and dreams, analyze them and share them with the students for the purpose of making them better people in the community.
Thus, teachers enable their students to be responsible overall as they develop common interest for others. This in turn makes the students to be high achievers, goal oriented and people who can make objectives and attain them. This is because teachers take full reasonability for traditions and other learning activities together with class work.
They make sure that students learn by taking part in the activities and socializing with others in different ways and settings (Halverson, 2004). They also make sure that the students are well mentored, highly disciplined, and well mannered in addition to having good self conduct. This results in a professionally developed society as most people in a society tend to live and conform to the practices around them. All this is found in the artifact.
The world is dynamic and nothing in it remains constant. Change takes place from time to time and we all know that change is inevitable. The artifact is bound to go through transformation in future as the education systems and needs keep changing.
In order to make students better persons, the school needs to adapt and use a broad combination of knowledge, ideas, skills, character and principles. All these things are changing due to changes in technology, community needs and the needs of the nations at large.
We will write a custom Essay on Lessons Learnt from the Artifact specifically for you! Get your first paper with 15% OFF Learn More Reference List Halverson, R. (2004). Accessing, documenting and communicating practical wisdom: the phronesis of school leadership practice. The American Journal of Education, 1, 1-50.
Kreitner, R. (2006). Management. Thousand Oaks: Cengage Learning.
Review of Research Studies on Cultural Bias in Psychology Synthesis Essay essay help online: essay help online
The population of minority cultural and ethnic groups in United States has increasing in the last few decades. It is therefore common for a psychological therapist to encounter a client from a different cultural and ethnic background. In such encounters, there is possibility for cultural bias that can affect effectiveness of the psychological intervention.
Many researchers in the recent past have been concerned about cultural bias in the field of psychology and psychological therapies. The paper reviews a few of research studies on cultural bias in psychology, counseling, and marriage and family therapy.
Counseling is considered the best intervention to psychological and emotional problems. However, considering cultural and ethnic diversity, counseling may not be effective if a counselor exhibits cultural bias. In the article, “Cultural Biased Assumptions in Counseling Psychology” (Pedersen, 2003), Pedersen addresses cultural biases assumptions that may affect the effectiveness of counseling interventions.
Pedersen identifies and discusses culturally biases assumptions from an earlier article by Ponterotto and Leong (2003). The author argues that cultural bias has impact on the work of counseling psychologists. Pedersen warns that cultural bias should not be underestimated given that it can have great effect on counseling psychology.
To “internationalize counseling psychological” (Pedersen, 2003), Pedersen proposes that counseling psychologists adopt scientist-practitioner model. In harmony with Pedersen, Snowden (2003) found cultural bias as a major factor contributing to disparity in mental health care provision.
Snowden concludes that although other factors such as economical factors led to a gap in mental health care, cultural bias was the major barrier. He advocates for more research on particular forms of bias that could contribute to the disparities.
Cultural bias is a major barrier to effective psychological therapy. In family therapy, cultural bias can make it impossible for a family therapist to fully understand her clients’ problems and provide an effective therapy. In the article titled “Experiential Tasks and Therapist Bias Awareness”, Bermudez (1997) notes that therapeutic process can be affected considerably by cultural bias against minority cultural and ethnic groups.
Get your 100% original paper on any topic done in as little as 3 hours Learn More According to Bermudez, all psychological therapists have assumptions about minority cultural groups. Some of the assumptions and beliefs could be biased and therefore affect effectiveness of a therapy.
Bermudez suggests that cultural bias awareness of a therapist can help her to overcome the bias and be effective across cultures. Bermudez proposes experiential tasks to overcome cultural bias, including role playing, visualization, written assignment, family sculpturing and role reversal.
Effectiveness of a psychological therapist in multicultural and multiethnic settings is depended on her cultural competence. In an article titled “Cultural Competency: From philosophy to research and practice”, Sue (2006) explores the meaning and value of cultural competency in psychological therapies.
Sue argues that cultural competency is trainable and proposes that therapist adopt cultural competency strategies in order to improve outcome. Addressing cultural competency in family therapy, Hardy and Laszloffy (2003) found cultural awareness and sensitivity to be important for cultural competency.
Hardy and Laszloffy argue that ability of therapist to explore her personal cultural issues puts her in a better position to understand other cultures. In addition, the authors summarize how cultural genogram can be a successful training tool for cultural competence (Hardy
Vegetation Recovery Using Remote Sensing Image In Yellowstone National Park after the Fires in 1988 Term Paper college essay help
Literature Review The Connection between Vegetation Recovery and Burning Severity of Fires
Before analyzing the images produced by means of remote sensing, it is necessary to analyze the aspects and criteria according to which the images can detect various patterns of vegetation recovery after the fire. Specifically, much research has been done on the analysis of connection between biodiversity and remote sensing techniques as well as other methods for types of recovery vegetation.
According to Kennedy, remote sensing contributes greatly to the analysis of vegetation cover and provides sufficient information about atmospheric chemistry (133). In particular, satellite remote sensing techniques can provide exhaustive data on the patterns and criteria necessary for analyzing sophisticated interactions and mechanisms connecting fire density, vegetation cover, atmospheric chemistry, and climate.
The researcher has found that gas emitted into atmosphere as well as shifts occurred to the atmospheric ratio is possible to effectively detect with the help of remote sensing. However, the examination of such dependencies does not provide viable solutions to the analysis of vegetation recovery in relation to temporal scales. Still, there is a possibility to identify the nature of gasses emitted.
More detailed information on this issue is provided by Turner et al. who have managed to provide sufficient justification to remote sensing images and how they can be used to identify various types of forests and vegetation (306). According to the researcher, “…recording numerous densities at different heights throughout the canopy and enables three-dimensional profiles of vegetation structure to be made” (Turner et al. 307).
With the help of this data, it is possible to detect the potential for such techniques as mapping of sub-canopy layers and emergent tree species.
A great contribution to the analysis of distribution patterns and habitat categorizations carried with the help of remote sensing techniques. This examination has been provided by Debinsky, Kindsher, and Jakubauskas (3281). The researchers have also applied to Landsat TM data analysis in order to evaluate various forest and meadow types in Yellowstone Park.
Importantly, the studies also seek to define the relation between vegetations areas and animal species distribution which is quite essential because the foci of birds and animals can be the indicators of dense vegetation.
Get your 100% original paper on any topic done in as little as 3 hours Learn More Particular species can be affiliated to a particular vegetation pattern. Interestingly, the research conducted by Debinski et al, reveals “large differences in species distribution patterns among remotely sensed meadow types” in different temporal dimensions (3283). The same concerns are considered by Gould (1861).
White et al have also been more consistent and pertinent to our research considerations (125). In their studies, they emphasize that aside from vegetations patterns, there are also burning severity patterns resulted in different topographic vegetation. The patterns are received with the help of satellite data that show significant changes in physical characteristics of burnt areas.
The researchers have discovered that it is necessary to be knowledgeable about electromagnetic energy. In this respect, they have also defined that “…more severely burned areas have less vegetation cover and different radiation budgets in post-fire years” (White et al.124).
Such important deductions will be of great relevance to our research because different patterns of burning severity will assist in analyzing the patterns presented in Yellowstone National Park.
With regard to the consideration presented above, it should be emphasized that the vegetation recovery change patterns largely depend on the burning severity of fire. This linkage is revealed through carbon dioxide density, biophysical characteristics of burnt areas, radiation and spectral analysis, and electromagnetic energy.
Spectral Analysis with Regard to Vegetation Recovery Patterns
A possibility to distinguish the changing patterns of vegetation recovery and burning severity cannot be solely relied because such factors as the process of spectral analysis and carbon dioxide density are crucial in providing an accurate and consistent examination of temporal characteristics of vegetation recovery.
In this respect, it is necessary to analyze the connection between carbon dioxide emission, and how they relate to fires and vegetation patterns. It is also imperative to prove why remote sensing, spectral analysis and Landsat TM techniques are crucial in identifying the influences of fire on vegetation recovery.
We will write a custom Term Paper on Vegetation Recovery Using Remote Sensing Image In Yellowstone National Park after the Fires in 1988 specifically for you! Get your first paper with 15% OFF Learn More The research provided by Jakubauskas and Price offer a clear picture of the relations between biotic factors and spectral analysis of forests in the Park (1375). With the help of multiple regression models, the researchers have provided the correlation of digital spectral analysis and biotical factors.
The results have revealed that “tree height and diameter combined to form an index of crown volume, which in turn combined with density for an index of canopy volume” (Jakubauskas and Price 1379). The scholars have also detected other crucial, though less significant, factors and dimensions of spectral analysis such as leaf area index and vegetation index.
Although the research provided by Jakubauskas and Price is of great value for further examination, it can be supported by the studies analyzing vegetation dynamics with regard to temporal scales (1378). In particular, Shannon and Lawrence are more close to the analysis of vegetation recovery patterns in relation to temporal scale (551).
The value of their research consists in presenting change vector analysis with help of 1985 and 1999 images. This analysis is “a rule-based change detection method that examines the angle and magnitude of change between dates in spectra space” (Shannon and Lawrence 551).
The process of change detection has succeed in presenting the changes within herbaceous and shrub land vegetation. The spectral and change vector analyses have detected that “there was a decrease in grass lands and a relative increase in srublands” (Shannon and Lawrence 554). The presented research can greatly assist in the exploration of vegetation recovery patters of change in Yellowstone National Park.
The above-presented research provides consistent information about pattern distributions, but it lacks information about fire factor and its impact on vegetation recovery and accuracy of the research. This gap can be complemented with the explorations provided by Turner, Hargrove, Gardiner, and Romme (731).
In general, spectral analysis plays an important role in identifying the changing patterns of vegetation recovery. It is also significant in defining various species of vegetation and describing pattern distributions on a particular geographic area.
Technical possibilities and Limitations of Remote Sensing Techniques
Remote sensing approaches can differ with regard to various resolutions of remotely sensed images. In order to succeed in researching our objectives, the analysis of advantages and limitations of these techniques is crucial. The studies presented by Wright and Gallant (582), Asner (2), Cohen and Goward (535), and Murtaugh and Philips (99). All scholars provide a comprehensive evaluation of all limitations to using remote sensing tools.
Not sure if you can write a paper on Vegetation Recovery Using Remote Sensing Image In Yellowstone National Park after the Fires in 1988 by yourself? We can help you for only $16.05 $11/page Learn More In order to critically assess the technical possibility of remote sensing techniques, Wright and Gallant have provided a historical background of previous researches dedicated to the efficiency assessment (582).
The results show that “remote sensing is the moderate spatial and spectral resolution of multispectral instruments like TM sensor” (Wright and Gallant 584) Therefore, it will be difficult to distinguish forested upland and forested wetland in spectral terms. The application of remote sensing techniques cannot be solely applied, but in combination with ancillary data.
Due to the fact that carbon dioxide is considered to be the indicator of vegetation recovery and burning severity of fire, ancillary technique should also involve carbon mapping as well which will back up the date collected form remotely sensed images (Asner 2).
Such devices are quite relevant and applicable to the temporal analysis of vegetation because carbon spectral patterns of change can also be the signifiers of vegetation recovery stage. In particular, carbon densities can be easily correlated with burning severities, and vegetation recovery, and species analysis. More importantly, the carbon analysis includes the acquisition of maps depicting types of forest, disturbance, and deforestation.
Remote sensing techniques are also applicable to temporal analysis of vegetation patterns. In this regard, Murtaugh and Philips provide a bivariate binary model for evaluating the shifts in land cover with the help of satellite images received at different times (99).
Such classification is aimed at correlating random variables that are dependent on the pixel resolution. Importantly, the researchers have applied to Landsat imaging for pixel classification and its correlation with land cover changes.
Cohen and Goward also emphasize the importance of using remote sensing to assess temporal and spatial characteristics of ecological environment (535). In the particular, they used date obtained from Landsat sensors for constructing biogeochemical cycles and for characterizing vegetation biophysical attributes with regard to biodiversity.
The research find remote sensing valid and reliable for analyzing vegetation and land cover change. In contrast, Ravan and Roy consider it necessary to introduce Geographic information systems for the analysis of various vegetation patterns and obtaining relevant information (129). The combined approach is much more efficient in detecting such characteristics as vegetation shape, size, patch density and porosity.
The research results has revealed significant different between different zones of Madhav National Part of India (Ravan and Roy 130). The structural analysis has provided vegetation recovery also largely dependent of biomass distribution and species diversity. Arising from this research, remote sensing and GIS can be successfully applicable to the temporal analysis of vegetation providing more accurate information.
Innes and Koch state that remote sensing is considered the most efficient tool in assessing vegetation, and other biophysical characteristics such as structural criteria of forest stands, the canopy type and the present of coarse woody debris (397). The researchers emphasize that it is possibly to rely solely on remote sensing when investigating the spatial and temporal characteristics of vegetations.
Interesting discoveries are offered by Turner, Ollinger, and Kimball who also approve remote sensing techniques for evaluating spatial characteristics of vegetation (574). In particular, the researchers resort to remote sensing tools and ecosystem modeling to study the terrestrial carbon cycling.
Pursuant to remote sensing limitation, explain that this device is constantly upgrading and it is possible to select the appropriate resolution of images to analyze the reflectance properties of vegetation and assess biogeochemical processes controlling carbon transformation.
In general, the majority of the above-described researchers prove that remote sensing is one of the most efficient instruments in conducting the assessment of vegetation recovery with regard to its temporal and spatial characteristics. Nevertheless, the analysis will be much more successful if to apply this technique together with GIS approach.
Overall Recommendations and Conclusion The analysis of image obtained by remote sensing allows to detect various patterns of vegetation recovery with regard to temporal characteristics. The Yellowstone National Park has been analyzed in three various time – 1989, 1999, and 2010. The image obtained from Landsat TM, ISODATA being an ancillary mechanism revealed that there significant changes in vegetation recovery patterns in relation to temporal characteristics.
In addition, classification scheme of vegetation used to shrub land, herbaceous vegetation, sparse vegetation, and bare land has turned out to be flexible and relevant for the research. The presented research proves conducted by Jakubauska and Price (1375)
The results have also show that vegetation recovery patterns are closely connected with burning severity of fire. Importantly, the spectral analysis and Landsat TM show biophysical characteristics of burnt areas. The evaluation has also succeeded in defining the changes of species allocation on the territory of Yellowstone National Park. The technical approach used for the data analysis still had some limitations.
In particular, it was difficult information without geographic information system because some characteristics were impossible to detect, such carbon dioxide cycle. Nevertheless, the classification of species was successfully identified and carefully analyzed with regard to temporal characteristics.
In future, we plan to investigate this area and other territories, but with another combination of techniques either to justify or disapprove the effectiveness of those as compared with the above presented ones. This area is quite wide and, therefore, there is much store for investigation.
Works Cited Asner, Gregory P. Tropical Forest Carbon Assessment: Integrating Satellite and Airborne Mapping Approaches. Environmental Research Letters 4 (2009):1-11
Cohen, Warren D., and Samuel N. Goward. Landsat’s Role in Ecological Applications of Remote Sensing. BioScience. 54.6 (2004): 535-545.
Debinski, D. M. and Kindscher, K., and Mark Jakubauskas. A Remote Sensing and GIS-based model of habitats and biodiversity in the Greater Yellowstone Ecosysyem. Journal of Remote Sensing. 20.17 (1999): 3281-3291.
Gould, William. Remote Sensing of Vegetation, Plant Species Richness, and Regional Biodiversity Hotspots. Ecological Applications. 10.6 (2000): 1861-1870.
Innes John L., and Barbara Koch. Forest Biodiversity and Its Assessment by Remote Sensing. Global Ecology and Biogeography Letters. 7.6 (1998): 397-419.
Jakubauskas, Mark, and Kevin P. Price. Empirical Relationships between Structural and Spectral Factors of Yellowstone Lodgepole Pine Forests. Photogrammetric Engineering and Remote Sensing. 63.12 (1997, December): 1375-1381
Kennedy, Pam. Biomass Burning Studies: The Use of Remote Sensing. Ecological Bulletins. 15 (1992): 133-148.
Murtaugh, Paul A. and Donald L. Philips. Temporal Correlation of Classification in Remote Sensing. Journal of Agricultural, Biological, and Environmental Statistics. 3.1. (1999, March): 99-110
Ravan, Shirish, A., and P. S. Roy. Satellite Remote Sensing for Ecological Analysis of Forested Landscape. Plant Ecology. 131.2 (1997): 129-141;
Savage, Shannon L., and Rick L. Lawrence. Vegetation Dynamics in Yellostone’s Northern Range: 1985 to 1999. Photogrammetric Engineering
Bank of England Role Compared to the Federal Reserve System Evaluation Essay college admissions essay help: college admissions essay help
Discussion The bank of England acts as UK’s Central Bank (Singleton, 2011, p. 229). The bank plays a number of roles in the UK financial system, and these roles include: one, issuing notes and coins. These notes and coins are then sold to banking systems which in turn distribute them to clients as they make withdrawals in their accounts; two, supervises the financial system.
The Bank of England often works in conjunction with other institutions set up specifically to regulate distinct parts of the financial system; three, manages UK’s gold and currency reserves (Great Britain Committees on Currency and Foreign Exchange, 1978, p. 159). This role enables the Bank of England to influence the level of exchange rate; four, acts as banker to government.
It does this by managing UK’s national debt and arranges for the issue of new loans to cover government’s current borrowing; and last but not least, the bank plays the role of acting as a banker to the banking system.
Normally the Bank of England comes to rescue banks that get into short term problems, unable to raise enough funds to meet customer demands. In this case, the Bank of England will supply cash to the banking system to relieve the liquidity shortage (Gomez, 2008, p. 349).
The roles of the Bank of England compares to the Federal Reserve System in varying aspects.
This paper examines the roles of the Bank of England compared to the roles of the Federal Reserve Bank of the US in terms of; regulation of the financial system, comparison of the roles in terms of facilitation of the financial system, comparison in terms of ensuring financial stability in the market, and lastly comparing their roles in Financial Stability and Depositor Protection.
Comparing Regulative Aspects of the Bank of England and the Federal Reserve System In the UK, domestic banking regulation has been far less formal compared to the United States of America. This may be so entirely because London city is the preeminent centre of the European market. Differing from the United States regulators, the Bank of England operates on the assumption that bankers are prudent, honest individuals who know as much if not more about banking than regulators do (Singleton, 2011, p. 20).
Get your 100% original paper on any topic done in as little as 3 hours Learn More In other words, the approach of the Bank of England for years was not to impose regulations and ratios on banks; instead it requested for periodic reports from banks.
On this basis, the Bank of England discussed informally with the top management of each bank on the quality of the bank’s loan, its liquidity, any features of the bank’s condition that the Bank of England portrays as unusual or out of line, and any suggestions that the Bank of England might make with respect to the banks’ operations (Great Britain HM Treasury, 2008, p. 87).
The current monetary responsibilities for the Bank of England were established through the Bank of England’s Act of 1998. The banking supervisory functions under this Act had previously been under the mandate of the bank of England was transferred to the Financial Services Authority (FSA).
In essence, overall financial stability issues responsibility was spread among three legal separate entities; the Bank of England, Financial Services Authority, and HM Treasury (Great Britain HM Treasury, 2008, p. 87).
A memorandum of understanding was established among the three as there was no legislation that formally sets out their responsibilities. This kind of arrangement blended smoothly with the Bank of England’s long time tradition by facilitating the maximum amount of flexibility in the banking system and avoiding the red tape and restrictions of various sorts found in other countries (Bernan, 2008, p. 99).
The Bank of England treats foreign financial firms operating in the UK much the same manner as domestic UK banks. The Bank of England allows a bank to establish a branch in London with minimal red tape as long as it recognizes the bank is reputable in its home country.
Foreign investing banks did not have to put in any capital to open an office in the UK. All they had to do was to accept to comply with certain regulations, and it was accorded similar rights to engage in banking that any other bank in Britain had (Great Britain Parliament, 2009, p. 30). The Bank of England rather presents a casual regulation of foreign banks.
We will write a custom Essay on Bank of England Role Compared to the Federal Reserve System specifically for you! Get your first paper with 15% OFF Learn More It operates and continues to operate on the logical assumption that foreign banking branches are inextricable part of the parent. This portrays that it is not easy if not impossible to regulate these branches as independent entities.
It also implies that the bank’s natural assumption that these branches are being regulated by banking authorities in their parent countries, which regulates the activities of the parent bank as a whole (Bernan, 2008, p. 99).
In the United States, evolution of banking took a different route compared to UK banking system. Financial institutions were chartered either nationally or at state level in the US. A restriction on branch banking at branch and federal level implied that thousands of banks at state level continued to be established.
In addition to the monetary responsibility, the board had regulatory authority over Federal Reserve Banks and banks which, by owning stock in Federal Reserve Banks, became members of Federal Reserve System (Bernan, 2008, p. 100).
Banking in the US is in a form of dual regulatory structure in which federal and state agencies carry out a mixture of unique and joint functions. The US Federal Reserve differs with the system presided over by the Bank of England (Hufner, 2004, p. 95).
As a regulator, the Bank of England consists of a highly concentrated market structure as one powerful regulator. It operates in a close-knit, exclusive community that relies upon understandings, convention, trust and tradition in performing its functions. The US Federal Reserve System on the other hand, consists of a highly decentralized market structure.
Regulation was more dependent on formal and bureaucratic rules in the Federal Reserve System compared to UK banking system. The two systems are however similar in terms of their commitment to relative independence of central banks from government (Hafer, 2005, p. 53).
Comparisons of The Roles of the Bank of England and Federal Reserve in terms of Facilitation Facilitative or catalytic roles are very necessary for central banks to operate effectively. The Bank of England has established close relationship with private sector participants for the purpose of maintaining active communication over payment system development and to promote specific initiatives. In the United Kingdom, these relationships are formal as it is represented on the board of the country’s banking association.
Not sure if you can write a paper on Bank of England Role Compared to the Federal Reserve System by yourself? We can help you for only $16.05 $11/page Learn More In the US, the relationships may be less formal but no less influential, for instance, the Feds role in promoting check 21, the law that facilitates check truncation (Hafer, 2005, p. 53). Both the Bank of England and the Federal Reserve System promote and initiate important changes in retail payment systems and also serve as catalysts as they undertake important research programmes (Hufner, 2004, p. 96).
Comparisons of the Roles in terms of Ensuring Financial Stability The Bank of England cooperates with the Financial Services Authority and the Treasury assist in the filed of financial stability. The cooperation pact between thee three agencies sets out the role of each authority and details how they work together towards the common objective of UK’s financial stability.
The divisions of responsibilities between the three agencies depend on accountability, transparency, a voidance of duplication, and exchanging information on regular basis (Great Britain HM Treasury, 2008, p. 88).
The bank of England contributes to the maintenance of UK’s stability of financial system. This responsilities involves: acting in markets to solve liquidity challenges in order to ensure stability of monetary system as part of its monetary policy functions; supervising infrastructure in financial system systematically important to Britain. This particularly involves payment systems based either in the UK or overseas.
The Bank of England remains at the heart of the payment system as bankers’ bank. It advises the Chancellor, and responds for its advice on any critical challenges that emerge in these systems (Great Britain HM Treasury, 2008, p. 89).
The Bank of England is also closely involved in infrastructural development and improvement, and strengthening of the financial system to assist reduce systemic risks; maintaining a broad supervision of the whole financial system. The Bank of England is strategically placed to perform this.
This is because the bank is responsible for the financial system stability and has high profile representation on the Financial Services Authority Board. Normally the bank is represented in the FSA by the Deputy Governor (Singleton, 2011, p. 229). It is because of this involvements’ in markets and payment systems that the bank is able to identify potential pitfalls first.
As a consequence, it is able to advice on the implications for the Britain’s financial stability of developments in domestic and foreign markets and payment systems.
It also provides assessments of the impact on monetary conditions of events in the financial industry; and last but not least, the Bank of England undertakes official financial operations in exceptional circumstances in their established memorandum with the FSA and the Treasury.
This is for purpose of limiting the risk of problems facing particular organizations spreading to other parts of the UK financial system (Great Britain HM Treasury, 2008, 89).
Similarly, the Federal Reserve System plays a critical role in overseeing the retail payment systems in the US. Both the Bank of England and the Federal Reserve do not have their oversight responsibilities explicitly set out. The payment oversight responsibilities of the Bank of England for instance, is non statutory. In the US, the Federal Reserve’s authority depends on assortment of statutes and agreements (Hafer, 2005, 52).
The Federal Reserve just like the Bank of England and other central banks plays a key role in retail payment system. The Federal Reserve’s legal foundation of involvement in retail payments is entrenched in a number of statutes.
These statutes include; the Federal Reserve Act of 1913, the 1978 electronic Funds Transfer, and the Check Clearing Act of 2003. The Federal Reserve stresses overriding objectives for payment policies such as; safety, efficiency, and accessibility (Hafer, 2005, p. 54).
The Role of the Bank of England in Financial Stability and Depositor Protection The UK government gives the Bank of England authority to play an important role in special bank administration procedure for the purpose of facilitating successful resolution of a bridge bank. This is designed to maximize the chances for successful disposal of the bridge bank to private sector within the statutory time period and at the best price possible.
The UK authorities through the Bank of England ensures that appropriate funding mechanisms are introduced to ensure that special bank administrator is able to maintain the residual company functioning to achieve the purposes of the procedure (Bernan, 2008, p. 2008).
Practically, the bridge bank would always be expected to pay for the services provided by the residual company on normal commercial terms, but provisions are made to allow access to additional funding if needed to ensure viability of residual company for the purposes of these procedure. The Bank of England also fulfils the role of a creditors committee in a special bank administration procedure.
The Bank of England ensures the special bank administrator provides information in relation to exercise of his functions and generally help the special bank administrator in discharging in his functions (Great Britain Parliament, 2009, p. 30).
In addition, the UK government considers that the Bank of England has additional functions in special bank administration procedure due its unique nature (Great Britain Parliament, 2009, p. 30).
These additional roles include: considering and approving special bank administrator’s proposals for attaining the objectives of the procedure with or without modification; plays an important role in providing information to the special bank administrator in relation to the financial position of the residual company and the bridge bank; approves those assets, or types of assets that may be realized for the benefit of creditors;
Effecting subsequent transfers of assets and liabilities between the bridge bank and the residual company; establishing with the special bank administrator what essential services, assets and contracts the residual company would be obliged to continue to provide in support of a bridge bank; determining whether to approve to the taking of certain actions in the procedure where those may prejudice the successful resolution of the bridge bank; and accepting that the procedure may be terminated (Great Britain Parliament, 2009, p. 35).
Comparison with the Federal Reserve System Comparatively, the Bank of England and the Federal Reserve System differ markedly on the nature of deposit protection arrangements and the appropriate role for the central bank in the payment system.
The Federal Bank maintains that it is important for a central bank to have a role in banking supervision, even though its own role has covered only a part of the banking system. The Federal Reserve shares the responsibility for regulating and supervising in the US financial system with a number of federal and state government agencies (Hufner, 2004, p. 95).
All chattered banks in US states are under the Federal Reserve System. Besides overseeing activities of banks in Federal Banks, the Federal Reserve also oversees US operations in oversees banks. The Federal Reserves also have supervisory obligations holding companies, though bank subsidiaries of those holding companies are often supervised by other agencies (Hufner, 2004).
For instance, the banking of commercial activities of holding company subsidiaries with national bank charters is supervised by the Office of Controller of the Currency. The Federal Reserve finds it essential for a monetary authority to have some direct links with the banking system, not only for financial stability but also to help with the conduct of monetary policy (Hafer, 2005, p. 31).
Conclusion In sum, the banking systems in the UK and US compare in a number of ways, for instance: branch banking is prevalent in the UK where banks have branches which control total deposits of the country. The US embraces unit banking as a system of banking with no branches or with very few branches.
The banking system in the United Kingdom is centralized. All banking institutions in the UK are under control of the Bank of England. The authority to issue notes and control credit solely rests on the Bank of England. The US on the other hand, has a decentralized central banking system.
The banking system is distributed among the US federal states under one Federal Reserve Bank (Hafer, 2005, p. 52). Control by the Bank of England is very effective as the number of banks are minimal compared to control by the Federal Reserve System which is not as effective as it is in England because of the existence of large number of unit banks.
In terms of establishment, the Bank of England was formed as a private joint stock bank and gradually it assumed all the powers of a Central Bank. The Bank was then nationalized in 1946.
The Federal Reserve System on the other hand, began as a central banking system which came into existence by passing the Federal Act of 1913. The Federal Reserve was empowered by the Act to perform all the central banking functions (Hafer, 2005, p. 55).
The Bank of England is currently nationalized, where as the Federal Reserve banks are owned by member banks of each district as entire share capital is contributed by them. In England, commercial banks seldom approach the Bank of England for rediscounting of their bills, instead they recall funds lent to the Discount Houses who go to the Bank of England for rediscounting of bills.
Thus, commercial banks obtain accommodation from the Bank of England only indirectly. In most cases, they are reluctant to approach the Bank of England for accommodation as it appears as a sign of weakness.
In the US, member banks approach the Federal Reserve banks for getting their bills of exchange and other papers rediscounted. Unlike in England, commercial banks in the US are not reluctant to approach the Federal Bank as they feel they have a stake of ownership of the Federal Reserve Banks (Singleton, 2011, p. 229).
The Bank of England adopts fixed fiduciary systems for regulating issuance of notes. The Federal Reserve System on the other hand, adopts proportional reserve system for regulating note issue. Another good comparison is in terms of commercial banks maintaining reserves with the Bank of England by convention. In the US, member banks maintain reserves with the Federal Reserve Banks by legal compulsion.
The Bank of England and the Federal Reserve System also compare in terms of effectiveness of bank rates. In England, the bank rate is very effective. Bank rates in the US are not as effective as it is in England.
The member banks sometimes do not increase their lending rates in accordance with increase in bank rates. This is due to the fact that some member banks may have surplus reserves and therefore, do not need any accommodation from the Federal Reserve Banks (Hafer, 2005, p. 54).
Reference List Bernan, L
“Interaction” in Human Computer Interaction: iPad’s Design Framework Essay argumentative essay help
iPad’s Design Framework The iPad’s entry into the market signaled a new era in Human-Computer interaction. It came with enhancements that have revolutionized how man interacts with computers. The concept of Multi-touch moved touch screen technology many steps forward.
Some of the novel interaction features of the iPad, which were not previously in the iphone, include the spread-or-pinch feature, bundle creation, and page navigation. The iPad’s iPhoto application allows for expansion or closure of a pile of photos as part of its new multi-touch interactions through a spreading or pinching motion applied by two fingers. It is also possible to make piles out of multiple slides in order to move or delete them.
This involves selecting the first slide, then holding it, and then tapping on the rest of the slides. The slides form a bundle, which is now ready for movement to a desired location.
This applies to mail where the user can form bundles of mail for mass deletion. In addition, a page navigation function included in the iPad allows a user to preview the contents of a page before opening it by pressing and holding the scroll bar area. It brings up a viewer through which the destination page is previewed.
Two functions, currently enhanced in the iPad, that were already in use in the iPhone are the scrolling tabs and the contextual keyboards. The scrolling tabs feature allows for shifting from one tab to another while the contextual keyboards displays a keyboard relevant for the application in use.
For instance, it brings up a numeric keyboard for input of numeral based functions such as time input and mathematical calculations, while a text-based keyboard appears for input of text based applications such as messaging.
Music is one of the popular iPad uses, supported by numerous iTunes applications. Several apps meet the various needs users have ranging from the creation of music to playing it. One of the applications used to create music that is benefiting from the bigger multi-touch screen is the Groovemaker app. There was a previous release for use with the iPhone.
Get your 100% original paper on any topic done in as little as 3 hours Learn More However, it had a practical limit as to how effectively one could use it because of the iPhone’s smaller screen. The purpose of the Groovemaker is “beat-making”. It works by sequencing loops from a huge library and forming layers to make a track. The main control is by drag-and-drop, which allows a user to easily pick desired tracks and remove undesired ones.
The bigger screen now allows users to control up to eight tracks simultaneously, a feat not possible previously. After creating the music, it allows for exportation to a computer. There are three options for the application, house, hip-hop, and Drum ‘n bass, depending on a user’s preference. It is available in the different packs in the iTunes store, with a free release pack and other enhanced packs, costing at least four dollars.
The iPad fits the description of a bigger iPhone because it came with many of the apps that were present in the iPhone, while providing enhancements to take advantage of the new capabilities of the iPad. Edge and Faas (2010) confirmed this when they said, “Most applications that run on the iPod Touch and the iPhone can run on an iPad”. An iPhone user would easily recognize the apps used by the iPad.
When compared to the MacBook, the two devices’ designs are for different uses, which complement each other. The iPad has its own unique strengths such as better surfing experience and better photo display, as compared to the Macbook, which is essentially a computing device that allows for storage of larger files and supports document processing better than the iPad.
Reference list Edge, C.