Job skills Essay

VERBAL COMMUNICATION 1 Able to express your ideas clearly and confidently in speech TEAMWORK 2 Work confidently within a group COMMERCIAL AWARENESS 3 Understand the commercial realities affecting the organisation. ANALYSING & INVESTIGATING 4 Gather information systematically to establish facts & principles. Problem solving. INITIATIVE/SELF MOTIVATION 5 Able to act on initiative, identify opportunities & proactive in putting forward ideas & solutions DRIVE 6 Determination to get things done. Make things happen & constantly looking for better ways of doing things. WRITTEN COMMUNICATION 7 Able to express yourself clearly in writing PLANNING & ORGANISING 8 Able to plan activities & carry them through effectively FLEXIBILITY 9 Adapt successfully to changing situations & environments TIME MANAGEMENT 10 Manage time effectively, prioritising tasks and able to work to deadlines. Other skills that were also seen as important GLOBAL SKILLS Able to speak and understand other languages. Appreciation of other cultures. See Study and work placements outside the UK Working Abroad NEGOTIATING & PERSUADING Able to influence and convince others, to discuss and reach agreement. LEADERSHIP Able to motivate and direct others NUMERACY Multiply & divide accurately, calculate percentages, use statistics & a calculator, interpret graphs & tables. COMPUTING SKILLS Word-processing, using databases, spreadsheets, the Internet & email, designing web pages etc. SELF AWARENESS Awareness of achievements, abilities, values & weaknesses & what you want out of life. PERSONAL IMPACT/CONFIDENCE Presents a strong, professional, positive image to others which inspires confidence & commands respect. LIFELONG LEARNING Continues to learn throughout life. Develops the competencies needed for current & future roles STRESS TOLERANCE Maintains effective performance under pressure INTEGRITY Adheres to standards & procedures, maintains confidentiality and questions inappropriate behaviour. INDEPENDENCE Accepts responsibility for views & actions and able to work under their own direction & initiative. DEVELOPING PROFESSIONALISM Pays care & attention to quality in all their work. Supports & empowers others. ACTION PLANNING Able to decide what steps are needed to achieve particular goals and then implement these. DECISION-MAKING Determines the best course of action. Evaluates options based on logic & fact & presents solutions INTERPERSONAL SENSITIVITY Recognises & respects different perspectives. Open to the ideas & views of others CREATIVITY Generates & applying new ideas & solutions

Greater Autonomy Over The Content Of The Curriculum

The being of some signifier of relationship between course of study policy and instructor professionalism would look to be an established premise. This is apparent in claims that course of study reform is frequently regarded as a menace to teacher professionalism ( Al-Hinei 2003 ; Apple 2009 ; Locke et Al. 2005 ) . Most notably, it is frequently claimed that the degree of prescription in the English National Curriculum, along with the associated demand to run into the prescribed results, reflects a decrease of instructor liberty in favor of answerability ( Walsh 2006 ) . It would look, at this degree so, possible to reason that a decrease in cardinal prescription equates to an addition in teacher liberty which in bend equates to an sweetening of instructor professionalism. To an extent this would look to be an purpose of recent course of study reform in Scotland in the signifier of the Curriculum for Excellence ( CfE ) . The first page of the first ‘Building the Curriculum â₠¬Ëœ papers claims that ‘teachers will hold greater range and infinite for professional determinations about what and how they should learn ‘ ( Scots Executive 2006:1 ) . However, such a straightforward relationship between course of study policy and instructor professionalism would, pulling on Evans ( 2008 ) , be an over-simplification. Evans suggests that professionalism can non be understood entirely, through analyzing instructors ‘ ‘remit and duties ‘ ( p.23 ) , and instead we must see the ways in which teachers themselves understand their professional duties. To an extent this would look to be recognised in Scotland ‘s course of study reform, in for illustration claims that the reform requires a ‘culture alteration ‘ ( Scots Government 2009a:5 ) and the accent on the demand for professional development ( Scots Executive 2006:2 ) . This suggests acknowledgment that a alteration of instructors ‘ remit and duties entirely may non hold a important impact upon professionalism. In this sense, the CfE may possibly be regarded as stand foring, but besides necessitating, a alteration in our apprehension of teacher professionalism. In visible radiation of this, it becomes pertinent to see exactly the nature of this implied alteration in apprehension of teacher professionalism. This essay will research peculiarly the deductions of greater instructor liberty in choosing the content of the course of study. This entails sing: what is meant by teacher professionalism, issues that arise in relation to choosing course of study content, and the impact of these issues on our construct of instructor professionalism. Professionalism In order to research the impact of the CfE upon teacher professionalism it is necessary to hold an apprehension as to what precisely ‘professionalism ‘ agencies. This poses some trouble as the term would look to miss a clear definition, and seems to be understood rather otherwise by different people ( Al-Hinei 2003:41 ; Evans 2008 ) . In a general sense nevertheless, it can possibly be regarded as a description of the nature of the function and demands of a member of a profession ( Goodson 2003:126 ; Evans 2008:25 ) . This of class begs the inquiry as to what a ‘profession ‘ is. Harmonizing to Carr ( 2000:22 ) the term ‘profession ‘ may be regarded as bespeaking a distinguishable ‘class or class of business ‘ consisting of occupations such as ‘doctor ‘ or ‘lawyer ‘ , and sometimes ‘teacher ‘ . It is in sing those characteristics that distinguish a ‘profession ‘ from other businesss that the cardinal issues associated with ‘professionalism ‘ come to the bow. Some regard the construct of ‘profession ‘ to be a socially constructed agencies of continuing power with a certain group of people by confering a particular position upon certain businesss ( described in Locke et Al. 2005:558 ) . Carr ( 2006:173 ) suggests it refers to those businesss that are indispensable in continuing civil society ( wellness, justness and instruction ) . Others suggest that there are certain specifying features which mark out an business as carry throughing the standard for ‘profession ‘ ( Locke et al 2005:558 ; Christie 2003:845 ) . However, despite this diverseness it would look possible to place certain recurrent subjects in relation to those businesss classed as professions: they have some distinguishable cognition base or expertness ; they provide some signifier of service to society ; and, as alluded to in the debut, members of a profession have autonomy to do professional opinions ( Carr 2000 ; Christie 2003 ; Goodson 2003 ; Locke et Al. 2005 ) . Professionalism, so, may possibly be regarded as describing: the demands of a member of a profession in footings of their cognition and expertness ; their range for independent determination devising ; and a definition of their function in its service to wider society. If we consider teacher professionalism straight, Menter et Al. ( 2010:17 ) , place ‘four theoretical accounts ‘ of professionalism ( ‘effective ‘ , ‘reflective ‘ , ‘enquiring ‘ and ‘transformative ‘ ) , each of which conceives of the professional cognition base and range for teacher determination doing otherwise. The ‘transformative ‘ theoretical account besides defines the societal function of learning otherwise – as ‘contributing to societal alteration ‘ , instead than conveying societal norms ( Menter et al. 2010:24 ) . Therefore, the relationship between course of study policy and professionalism would look to lie in the manner in which the course of study defines a instructors ‘ function in footings of the cognition that is required and the degree of liberty for professional determination devising afforded by the course of study. Whilst Evans ( 2008:27 ) argues that we can non understand the true nature of instructor professionalism by mention to the policy that defines it, pulling on Locke et Al ( 2005 ) , it would surely look just to propose that the manner in which a instructors ‘ function is perceived officially does hold affect instructors ‘ positions as to the nature of their functions and duties. As has been mentioned antecedently in relation to the English National Curriculum, the issue of instructors ‘ liberty and range for doing professional opinions would look to be a peculiarly combative issue. Menter et Al ( 2010:22 ) suggest that a normative course of study, in which there is less range for professional opinion, would look to associate readily to a theoretical account of professionalism which emphasises ‘technical achievement ‘ . It would look that cut downing instructors ‘ liberty narrows the cognition and expertness that is expected of a instructor. Goodson ( 2003 ) suggests that a focal point on the proficient facets of learning can take to a position that instructors ‘ expertness lies strictly in the accomplishments of twenty-four hours to twenty-four hours planning and behaviour direction. Carr ( 2000:15 ) refers to this as ‘restricted professionalism ‘ . Through analyzing the grounds for the being of a course of study which possibly restricts teacher professionalism in this manner we come to see the ‘tension ‘ that Locke et Al ( 2005:564 ) point to as bing between instructor liberty and answerability. Further, through understanding the possibly alone answerability faced by the instruction profession ( Carr 2003 ) , we can get down to understand the issues involved in course of study content choice. Education, or instead schooling, is basically concerned with ‘the sort of society we want to be ‘ ( White 2004a:2 ) and as such in concerned non merely with single development but besides the development of society. This is apparent in the claim that the ‘Curriculum for Excellence can play a important function ‘ in accomplishing the Scots Governments purpose ‘to make Scotland smarter, safer and stronger, wealthier and fairer, greener and healthier ‘ ( Scots Government 2008:3 ) . It is from this impression of schooling as helping, and potentially formative, society as a whole that it is suggested that schools and instructors are accountable in ways that other professions are non ( Carr 2000:44 ) . Further, instructors are besides more accountable to parents and must accept the legitimacy of the positions of ‘non-professionals ‘ in a manner that attorneies or physicians do non ( Carr 2003:64 ) . As such, it is argued that there are some d eterminations in instruction that should non be made by the instructor as they are ‘essentially political ‘ ( White 2004b:20 ) . In trying to guarantee therefore that instructors are run intoing the wants of both the province in footings of its desire for society – such as economic growing – instructors ‘ infinite for professional opinion can go squeezed. This leads us to see more closely the nature of course of study policy itself, and the function it plays in interceding between the desires of the province and instructor professional liberty. Course of study This requires an understanding as to what is meant by â€Å" course of study † itself. As with ‘professionalism ‘ , it would look to be a term which is notoriously difficult to specify, with a battalion of potentially conflicting definitions ( Dillon 2009 ) . By and large it can be suggested that ‘curriculum ‘ does non mention to a list, or patterned advance, of points to be taught. The course of study addresses non merely what is taught, but why and how instruction and larning takes topographic point. As such, curricula reflect and advance beliefs about the purposes and nature of instruction ( Flinders & A ; Thornton 2009:8 ) . Different course of study reflect different epistemic and pedagogical beliefs – beliefs about the nature of cognition and nature of acquisition and learning – in, for illustration, their administration of ‘knowledge ‘ ( Carr 1988 ) . For illustration those that emphasise the separation of cognition into topics, and those that favour integrating of capable countries. However it should possibly be noted that Carr ( 1988 ) argues that the epistemic and pedagogical bases of much course of study policy is non wholly coherent. It should besides be noted that the current treatment is centred on the construct of ‘explicit ‘ course of study ( Moore 2004:61 ) – an expressed statement of intended acquisition such as the CfE. However in sing a broader definition, course of study is besides used to mention to those experiences which lead to larning approximately, for illustration, societal norms which are non explicitly planned for. This is termed the ‘implicit ‘ ( Moore 2004:61 ) or ‘hidden ‘ ( Anyon 2006 ) course of study. However, notwithstanding the scope of attacks to understanding and making course of study, course of study design needfully entails a choice of what is to be taught. Different course of study theoretical accounts may differ in both when and by whom this procedure of choice takes topographic point. As mentioned earlier, within a normative, centralised, curriculum much of the choice is being made at a national degree by policy shapers. If we consider the CfF itself in footings of those who are doing the determinations, it is rather clear that the pick as to what to learn is non being topographic point entirely in the custodies of the instructors. Priestley ( 2010:23 ) suggests that it reflects a tendency in course of study development in general, in which there is an effort to pull on both ‘top-down and bottom-up attacks to curriculum be aftering ‘ . A procedure of choice has already occurred at the national degree. The purposes of the course of study have been set out in the signifier of the ‘four capacities ‘ – statements as to the type of individual the course of study seeks to develop ( Learning and Teaching Scotland 2010 ) . As mentioned earlier, the course of study besides aims to run into the Scots Governments desire to make a ‘wealthier ‘ and ‘healthier ‘ Scotland ( Scots Government 2008:3 ) . Therefore instructors are doing their determinations within a ‘framework of national outlooks ‘ ( Scots Executive 2006:1 ) . Decisions, possibly ideological, have been made as to the ‘skills ‘ that are deemed of import have been defined ( ‘skills for acquisition, accomplishments for life and accomplishments for work ‘ ( Scots Government 2009b ) ) . The chief countries of acquisition, possibly reflecting epistemic beliefs, have besides been decided in the signifier of the course of study countries ( such as Mathematicss ) . At a more elaborate degree, the ‘experiences and results†¦ describe the outlooks for larning and patterned advance for each of the eight course of study countries ‘ ( Learning and Teaching Scotland 2010 ) . Even within this ‘clear instructors do non hold exclusive duty for course of study content choice. In the pledge, ‘all kids and immature people should see personalisation and pick†¦ ‘ ( Scots Government 2008:17 ) , there is an outlook that students will, to a certain extent, besides be doing determinations about course of study content. Further, there is a strong accent upon collegiality, with instructors working together on course of study development ( Scots Government 2009a ) . This essay does non hold the range to see the reviews of the curricular determinations made at a national degree ( e.g. Royal Society of Edinburgh 2008 ) . Whilst recognizing that these unfavorable judgments may good hold of import deductions for the function of the instructor, this essay will see more by and large the deductions for teacher professionalism of liberty to choose content within a wide model. Through sing course of study content choice, two cardinal issues related to teacher professionalism will be raised. The first considers the consequence of sing content choice as a pedagogical accomplishment or competency as Hansen ( 1998 ) appears to make. The 2nd explores the deductions of sing a course of study as a ‘selection of civilization ‘ ( Giroux 1980:228 ) . Contented choice as pedagogical accomplishment As it would look that the major ‘political ‘ determinations have been made in the course of study in footings of its purposes and general administration of cognition, it is possible to see the instructors function as that of ‘deciding what specific purposes and what student experiences best suit the peculiar kids ‘ ( White 2004b:20 ) . In this sense the instructor is pulling on expertness as to how best move the kid onto the following phase of development, in this instance as defined by the CfE ‘s experiences and results. This demand to make up one's mind upon the particular aims, and choosing the content to enable the student to accomplish those purposes would surely look to indicate to a construct of a more enhanced professionalism than a more normative course of study. The nature of expected teacher professional cognition and expertness would surely look to be regarded as more than organizational and twenty-four hours to twenty-four hours routine. Official certification seems to propose that instructors must, for illustration ‘reflect on their pattern ‘ ( Scots Government 2009a:2 ) and have a scope of expert cognition in the signifier of ‘content cognition†¦ general pedagogical cognition†¦ .knowledge about how scholars learn ‘ ( Scots Government 2009a:4 ) . This would look to indicate to theoretical accounts such as the ‘reflective instructor ‘ ( Moore 2004:4 ) . Such a theoretical account respects learning to affect more than practical cognition and pr oficient accomplishment, instead it requires instructors to reflect on their pattern possibly pulling on their theoretical apprehension with a position to bettering and developing their instruction ( Moore 2004 ) . Menter et Al ( 2010:23 ) suggest that the demand for instructors to be involved in course of study development makes the construct of ‘the asking instructor ‘ a really relevant theoretical account. This theoretical account regards instructors ‘ professional expertness in lying non merely in the application of theoretical cognition, but besides in its coevals through action research, once more with the purpose to better their pattern ( Menter et al 2010:23 ) . These theoretical accounts would surely look to widen the construct of instructor professionalism beyond that of the sensed technicism of the ‘competent ‘ instructor. As such they may supply suited theoretical accounts for instructors who are involved in the choice of course of study content, puting an accent on instructors ‘ pedagogical expertness. However, if we turn to the 2nd construct, an apprehension of course of study content as a ‘selection of civilization ‘ ( Giroux 1980:228 ) , understanding teacher professionalism strictly in footings of pedagogical expertness may get down to look inadequate. Curriculum content as a choice of civilization In order to see the deductions of sing course of study as a choice of civilization it is necessary to find precisely what this means. Culture, in its broadest sense, may be regarded ‘as a whole manner of life ‘ , embracing all facets of society including the cognition, accomplishments and activities, such as athletics and ‘recreation ‘ , of that society ( Entwistle 1977:111 ) . As such, whatever is included in the course of study is a choice from the huge array of cognition, accomplishments, attitudes and activities which make up ‘culture ‘ . We must see so on what footing we choose what to include. If we regard instruction as being, in some manner, involved with ‘betterment ‘ , the facets of civilization we choose to include in a course of study must be those which we regard as being contributing to the ‘improvement of the person or group ‘ ( Entwistle 1977:111 ) . As such, cultural choice clearly implies a procedure of rating, separating between those things which we regard as ‘desirable or unwanted ‘ facets of civilization ( Entwistle 1977:110 ) . As White ( 2004a:3 ) argues that choice of content can merely sanely be carried out in relation to the purposes of the course of study, it would look just to propose that concerns about the choice of civilization could originate in relation to the overall purposes of the course of study and in relation to the standards by which facets of civilization are deemed worthy of inclusion. Concerns that rise in relation to the purposes of the course of study are possibly best exemplified by the unfavorable judgments of a course of study whose purpose is, for illustration to increase employability accomplishments. Those who regard cognition acquisition as holding value in its ain right would see such an instrumental attack to content choice as an poverty of instruction, restricting entree to many signifiers of civilization which may non hold direct instrumental value ( pulling on Carr et Al. 2006:17 ) . In this manner so, we can see that the choice of content is in some manner impacted upon by our beliefs about the intent of instruction. However, as has been discussed it the purposes of the CfE have been decided at a national degree, and as such possibly in world instructors have small function to play in choosing ‘desirable ‘ civilization. To a certain extent this may be true, and points once more to the ‘tension ‘ between answerability to the province, and instructors ‘ beliefs and professional opinions as to what is best ( Locke et al 2005 ) . Further, it would surely look just to propose that within the model, instructors do hold to do determinations as to what to learn in order to accomplish the ‘experiences and results ‘ . In this manner they must do opinions as to what is worthwhile, what they regard as of import or valuable cognition or accomplishments, or suited literature. It is possibly in relation to the rating as to the comparative worth of facets of civilization that the most complex issues originate. It is in sing the relationship between cognition and power that cultural choice becomes debatable. This becomes apparent when we draw on Bourdieu ‘s ( 1986:106 ) construct of ‘cultural capital ‘ . Bourdieu ( 1986:106 ) suggests that different signifiers of ‘culture ‘ are invested with value which can be drawn on for pecuniary addition, or an addition in societal position. If we consider this in footings of ‘knowledge ‘ as a signifier of civilization, so acquisition of certain signifiers of cognition by an person can be utilised in bring forthing income and increasing societal position. For illustration, geting specific biological and medical cognition can enable one to derive both the income and position conferred upon a physician. However, it is non merely the acquisition of the cognition per Se. which is valuable, but instead gaining institutional acknowledgment – in the signifier of an academic making – of possessing a peculi ar signifier of civilization ( Bourdieu 1986:110 ) . In this sense, certain signifiers of cognition, certain signifiers of civilization, have greater value by virtuousness of being ‘institutionalised ‘ in the signifier of a making ( Bourdieu 1986:109 ) . This would propose hence, that schools are involved in both the transportation of signifiers of civilization which enable an person to derive economic capital or societal position, but besides in some manner specify what signifiers of civilization are of value. Such an averment is supported by Giroux ‘s ( 1980:228 ) statement that the civilization that is selected to organize the course of study becomes ‘legitimised ‘ by the really fact of its inclusion in the course of study. Further as Moore ( 2004:61 ) points out, in choosing what to include, there is besides a determination as to what to except from the course of study. Moore ( 2004 ) suggests that through such a procedure the comparative value of different signifiers of civilization are communicated to students, with those things that are excluded regarded as unwanted. Some suggest that the footing on which such choice is carried out is based on ‘middle category ‘ values as to what should be regarde d as worthwhile ( Reay 2006 ) . An interesting illustration of such a claim is provided in Moore ‘s review of portraitures in movie of instructors who are regarded as ‘saviours and non-conformists ‘ ( Moore 2004:58 ) , such as ‘Ms Johnson ‘ in the movie Dangerous Minds. He argues that whilst the attack they take to instruction may be extraordinary, the content of that instruction is non. Moore ( 2004:58 ) contends that the cultural choice made by these instructors represents in-between category values and as such ‘may be read as lending to and corroborating societal and cultural prejudices ‘ ( p.58 ) It is in this sense that Young ( 2006:734 ) argues that ‘social involvements are ever involved in course of study design ‘ : those with the power to choose what is included in the course of study have, to an extent, the power to legalize certain signifiers of cognition and certain patterns. It is suggested that through this procedure of advancing and legalizing in-between category values schools are implicated in intrenching inequalities of societal category ( Reay 2006 ) . Such a claim requires closer consideration if we are to understand the possible connexion between cultural choice and societal justness. One manner in which it is suggested that this is the instance is that persons from a in-between category background have greater entree and exposure to the signifiers of cognition that are regarded as valuable by schools ( Reay 2006 ) . In this manner, Reay ( 2006 ) suggests, kids from in-between category backgrounds are at an advantage, able to pull on the cultural capital they already possess in order to execute good at schools, deriving institutionalized acknowledgment through academic makings, and therefore addition position in society. This would look to foreground a tenseness for those involved in choosing the content of a course of study. On the one manus, it is suggested that if schools do non supply the ‘high position cultural capital that academic and economic success requires ‘ so kids from working category backgrounds are potentially deprived of the ability to raise their societal position ( Anyon 2006:44 ) . However in making so, they are possibly complicit in reproducing prejudice as to what is regarded as legitimate and valuable cognition. Further, Young ( 2006 ) suggests that it is non sensible to see cultural choice as strictly a affair of enforcing the values of an elitist group, and that there is a legitimacy in sing some accomplishments, facets of cognition, and activities as more valuable than others. However, precisely how a instructor should make up one's mind what is worthwhile and what is non is non wholly clear. Possibly it can be based upon the ‘normative ‘ ( Entwistle 1977:111 ) , societal position as to what is worthwhile. However, this is debatable even if there is a clear consensus as to what is ‘worthwhile ‘ . As Carr ( 2003:72 ) argues, the most widespread beliefs are non needfully the ‘right ‘ beliefs. Aside from raising the complex philosophical inquiry as to what ‘right ‘ agencies, this raises the inquiry as to the societal function of teacher professionalism. Are they at that place to go through on the values that exit or should they be ‘transformative ‘ , ‘contributing to societal alteration ‘ ( Menter et al 2010:24 ) . It is from these observations upon the relationship between cultural choice and values, and the possible nexus to issues of societal justness, that it possibly seems unequal to understand instructors ‘ professionalism strictly in footings of practical accomplishments or even in footings of professional opinions based upon pedagogical cognition. Rather it would look to propose, as many ( e.g. Goodson 2003 ; Campbell 2003 ; Carr 2006 ) do, that as instruction is implicated in organizing scholars ‘ universe positions and values, it is inherently concerned with ethical considerations. These writers suggest that it is these ethical concerns and opinions that instructors have to do, that Markss learning out as a profession. Carr ( 2006:172 ) argues that whilst all businesss are in some manner concerned with ethical issues, these by and large play a ‘regulative ‘ function – they indicate criterions for good pattern. However he suggests that ethical considerations are ‘constitutive ‘ of learning. This is possibly more clear in Campbell ‘s ( 2008:604 ) averment that it is: ‘ †¦ disputing to extricate the moralss of learning from the really procedure, pattern and content of teachingaˆÂ ¦ ‘ This would look to propose that the determinations and actions made by instructors involve opinions as to what is right and incorrect non simply in a proficient sense, but instead in a moral sense. As it is suggested that ethical issues are inbuilt into the very nature of instruction, Campbell ( 2008:605 ) argues that ‘ethical codifications ‘ are deficient to turn to the issues faced by instructors. Rather she suggests that instructors requires an understanding by instructors of the complex moral issues they must turn to ( Campbell 2008:605 ) . Carr ( 2006:178 ) suggests that it is about instructors ‘taking moral issues and inquiries earnestly ‘ . It should be noted that this does non propose that instructors do non presently take moral and ethical considerations earnestly ; Campbell ( 2003:2 ) argues that many instructors are cognizant of the moral deductions of their opinions. However, Locke et Al. ( 2005:570 ) do suggest that when instructors are capable to high degrees of answerability it can take instructors ‘doing things right ‘ instead than ‘doing the right thing ‘ . Potentially, hence, the CfE ‘s focal point on greater liberty could supply greater flexibleness for instructors to do the determinations they regard to be ethically sound. At the same clip, by increasing instructors ‘ range for taking what to learn the ethical nature of instructor opinion possibly becomes even more outstanding. However, pulling upon the suggestion that the framing of instructor professionalism in policy is important to pattern, it would look of import that the ethical nature of professionalism is present in official discourse if instructors are to be afforded the clip and infinite to earnestly prosecute with these issues. The CfE may good be regarded as affording instructors greater liberty to do professional determinations as to what they teach. There besides appears to be acknowledgment ( e.g. Scots Government 2009a ) of the importance of instructors ‘ professional cognition and expertness. However, in sing the issues involved in choosing course of study content it seems just to reason that the professional function of instructors can non be framed strictly in footings of pedagogical cognition and expertness. Rather it would look that any consideration of teacher professionalism must earnestly see the ethical dimension of instruction.

Supervisory techniques

The word counseling can be defined as the process of helping persons who are fundamentally psychologically healthy or otherwise resolve developmental and situational issues. Supervisory techniques are essential and incorporate some advances that may not be themselves referred as counseling such as creative problem solving but have similar aim. A successful counselor has a mature and well balanced state of mind and temperament and places him/her self in the shoes of the counselee, and has the ability to respect their (counselee) opinions, thoughts, feelings and emotions.After evaluating the story as described, a realistic, practical solution can be developed individually at first if this is beneficial, and then jointly to encourage the participants to give their best efforts at orienting their relationship with each other. It must be noted that the change in situations like financial status, physical health, and the influence of family members and friends can have an adverse negative influence on the conduct, responses and actions of the those counselee.The scope of counseling covers a wide and diversified field of study as it includes what one would imagine far and beyond these identified topics;- Abortion counseling, Brief therapy, Career Counseling, Christian counseling, Counseling psychology, Credit counseling, Cross-cultural counseling, Disaster counseling, Disciplinary counseling, Ecological counseling, Family & marriage counseling, Genetic counseling, Grief & trauma counseling, Marriage counseling, Pastoral counseling, Relationship counseling , Rehabilitation counseling, Sexual trauma counseling, Suicide intervention etc. 1.0) Pregnancy Options and Abortion counseling This provides information and support for a pregnant woman who is considering between the choices regarding the continuation of the pregnancy. The choices include continuing the pregnancy for parenting or adoption and pregnancy termination. In reality, qualified advisors take the information with certainty and encouragingly that helps each woman make the best decision for her. Counselors require up-to-date knowledge of local and national laws governing women's pregnancy choices, especially concerning adolescents and their rights to make such decisions.The tie between forced abortion and mental health is no more associated with psychological danger than carrying an unwanted pregnancy to term. Psychological effects of abortion It was noted that adverse emotional reactions to the abortion are influenced by pre-existing psychological conditions and other negative factors and, furthermore, that well-being was separately and positively related to employment, income, and education, but negatively related to total number of children. The kind of stress and the amount of stress women experience varies from culture to culture.Emotional distress may occur in a majority of women who are contemplating or have had an abortion due to a number of factors, including pre-existing mental health problems, the status of the woman's relationship with her partner, poor economic status, poor social network, or conservative views held on abortion. The term â€Å"post-abortion syndrome† was used as it was stated that it had been observed post-traumatic stress disorder which developed in response to the stress of abortion.While some studies have shown a correlation between abortion and clinical depression, anxiety, suicidal behaviors, or adverse effects on women's sexual functions for a small number of women, these correlations may be explained by pre-existing social circumstances and emotional health and various factors, such as emotional attachment to the pregnancy, lack of support, and conservative views on abortion, may increase the likelihood of experiencing negative reactions. Abortion might mean a selection of women at higher risk for suicide because of reasons like depression.The study concluded that compared to other women in the group those who had an abor tion were subsequently more likely to have â€Å"mental health problems including depression, anxiety, suicidal behaviors and substance use disorders. 1. 1) Career Counseling Career choices are based on matching personal traits (aptitude, abilities, resources, personality) with job factors (wages and environment for success. This framework contains three sections: a) Acquaintance with the necessary requirements and conditions of achievement, positive and negative effects, returns, opportunities, and prospects in different area’s of work.b) A true reasoning of the relations of these two groups of facts 1. 2) Christian counseling Christian counseling is carried out by a qualified counselor who upholds Christian ethics values, beliefs and philosophy. The uniting element is the therapist, who has integrated a combination of Christianity, psychology, and psychotherapy into the applied program. Counselees look at Biblical guidance and counseling as a perfect relationship with a ca ring counselor directed toward increased awareness of themselves, others, the societies and cultures in which they live, and their understanding of the Christian God.The therapy may take an ad-hoc approach, focusing simply on the therapy session itself. Clients may be more comfortable with a Christian counselor, and they may feel such a person's advice is more sensitive to their personal or religious needs. Some clients also wish to use the Christian Bible as a reference for their counseling sessions and therapy. 1. 3) Disciplinary counseling A disciplinary counseling is a session or a meeting between an employer and an employee or a supervisor and his/her junior employee.It may focus and put more emphasis on a specific work place scenario or in carrying out a performance appraisal. The counseling process may be scheduled, initiated and executed by the supervisor and is not considered disciplinary. It is conducted in ultimate privacy, and is intended to have a constructive goal of p roviding feedback to the employee to correct the problem. 1. 4) Pastoral counseling Pastoral or Biblical counseling is a branch of therapy in which ordained ministers, rabbis, priests and others provide therapy services.These include Marriage and Family Counselors. Pastoral counseling is essentially a non-licensure. Counselees often will not pay for pastoral counseling of counselors without state licensing which is often synonymous with pastoral care that include Christian Counselors, Clinical pastoral education.. 1. 5) Rehabilitation counseling This type of counseling takes interest on assisting those with disabilities to achieve their personal, career, and independent living goals through a counseling process.Though educational programs have began to appear, it is not until the availability of adequate funding for rehabilitation counseling programs that the profession begun to grow and establish its own identity. 1. 6) Suicide intervention Counseling Suicide intervention is an eff ort to stop or prevent persons attempting or contemplating suicide from killing themselves. Individuals who utter the intention cause harm to self are routinely determined to lack the present mental capacity to refuse treatment, and can be transported to an emergency department against their will.Medical advice pertaining people who attempt or consider suicide is that they should immediately go or be taken to the nearest emergency room, or emergency services should be called immediately by them or anyone aware of the problem. Modern medicine treats suicide as a mental health issue. According to medical practice, severe suicidal ideation, that is, serious contemplation or planning of suicide is a medical emergency and that the condition requires immediate emergency medical treatment. Those suffering from depression are considered as high-risk group for suicidal behavior.When depression is a major factor, successful treatment of the depression usually leads to the disappearance of sui cidal thoughts. However, medical treatment of depression is not always successful, and lifelong depression can contribute to recurring suicide attempts. 1. 7) Career Counseling A career was initially taken as a course of successive situations that make up a person's work life. One can have a sporting, musical or any other without being a real professional athlete or musician, but most frequently â€Å"career† in the 20th century referenced the series of jobs or positions by which one earned one's money.Career Assessments are tests that come in a variety of forms and rely on both quantitative and qualitative methodologies and helps individuals to identify and better articulate their unique interests, values, and skills. These type of advisors evaluates major interests, values and skills, of the client and also help them explore career options and research graduate and professional schools. This field is vast and includes career placement, career planning, learning strategies a nd student development.Typically when people come for career counseling they know exactly what they want to get out of the process, but are unsure about how it will work Career counselors work with people from all walks of life such as adolescents looking to explore career options or with experienced professionals looking for a career change. Career advisors normally have psychology, vocational psychology, or industrial/organizational setting. The approach of career counseling varies by practitioner, but generally they include the completion of one or more assessments. 1.8 Credit counseling It is also known as debt counseling. This is a process offering education to consumers about how to avoid incurring debts that cannot be repaid. This process is actually more debt counseling than a function of credit education. This type counseling involves discussing with lenders in ascertaining a debt management plan (DMP) for a consumer. A DMP may help the debtor repay his or her debt by worki ng out a repayment plan with the creditor. DMPs, set up by credit counselors, usually offer reduced payments, fees and interest rates to the client.It merely gives a fresh start and an opportunity for the client to begin building a positive credit history. Criticism for credit counseling These sharp increases of credit counseling activity also created other, more serious issues in the industry and they include: a) Exploitation by most credit guidance organizations are so significant which leads to criticism of the entire industry. b) Another common criticism of credit counseling is the assertion that participating in a Debt Management Plan will ruin a consumer’s credit.d) Severally many credit advice firms hire untrained staff to do credit counseling. References 1) Swanson, J. L. and Parcover, J. A. (1998). Annual Review: Practices and Research in career counseling and development — 1997. The Career Development Quarterly. 47, 2, 98-135. 2) Kim, B. S, Li, L. C. , and Li an, C. T. (2002) Effects of Asian American client adherence to Asian cultural values, session goal, and counselor emphasis of client expression on career counseling process. Journal of Counseling Psychology, 49, 3, 342-354.

E two Essay Example | Topics and Well Written Essays - 1000 words

E two - Essay Example Who holds the disposable income also matters. When women workforce increased, companies started targeting female consumers (Barringer, 2009). When teenagers were given large sum of pocket money, they helped increase business opportunities to compact disk warehouse, designer clothing, sunglasses and cellphones. Social trends include the family life and their working patterns; workplace diversity; increased attention to health care; friendships; increased use of cell phones and internet, and etcetera. People started buying readymade frozen food which they could microwave at home not because they wanted to eat frozen stuff, but because they were too busy to cook for themselves. This gave rise to business opportunities for companies that prepared frozen food. Example. Internet cafà ©s, also called net cafà ©s, continued to grow in the last decade due to increasing number of people using internet for developing friendships. CoffeNet in USA is one such cyber cafà ©. Technological advances have greatly increased business opportunities over the last decade. This is because whenever a new technology arises, it has to be accompanied by products and equipment that supports it. This directs opening up of new companies because the number of consumers who incorporate technology into their lives increase. However, it is not the technology itself that the consumers love; instead, it is the sophistication, ease and reliability the technology provides that is looked forward to by the consumers. Example. Barnes and Noble is an e-bookseller company that enables people to shop books online that are then shipped to them after online payment. This company evolved when the number of consumers increased who wanted access to books without having to go to the shop and buy because their lives have become busy. Political and regulatory changes have also given rise to many business opportunities. For example, designing of new laws regarding internet fraud brought with it the need of

Scholarly Paper - Healthcare Informatics Theories & Policies Essay

Scholarly Paper - Healthcare Informatics Theories & Policies - Essay Example ification (CCC), Perioperative Nursing Data Set (PNDS), the Nursing Minimum Data Set (NMDS), The Nursing Interventions Classifications (NIC), International Classification for Nursing Practice (ICNP), the Nursing Outcomes Classification (NOC). The American Nurses Association has approved thirteen, but only ten are considered particular to nursing care. NANDA-I will be the main considered terminology in this essay. NANDA-I maintains an agreed set of diagnoses, which are then used to select appropriate nursing interventions and develop desirable patient outcomes. Its taxonomy is organized into 13 domains of nursing practice, 46 classes, and 216 diagnoses. NANDA-I has been found to be used extensively both in the United States and globally (About NANDA†, n.d.). NANDA opened up the way of diagnostic taxonomy in nursing. During the first National Conference on Classification of Nursing Diagnoses, 1973, a task force was formed. It later evolved into an incorporated Association in 1982 to help nurses who were in the United States and Canada. The work on classification was begun by Kristie Gebbie and Mary Ann Lavin, faculty at St. Louis University, by calling a classification conference. They influenced the current decisions of the identification-classification process through their belief that nurses should be involved in the development process. A diagnosis is a clinical decision about an individual’s response to real or possible health problems. It is the foundation for choosing the appropriate nursing intervention to get an outcome for, which the nurse is accountable. Gordon’s observation was of diagnosis being a model that puts a meaning on a set of observations therefore triggering understanding and thinking about the set. T his phenomenon forms the basis of every diagnostic concept of today (Speksnijder et al., 2011). Subsequent to specifying the goals of a proposed system, the identification process begins. The subject phenomena are identified. NANDA

3G Network Essay Example | Topics and Well Written Essays - 1750 words

3G Network - Essay Example The world had come a long way from personal letters sealed by wax in an envelope. People now live where a conversation with a love one from continents away is done with just a touch of a button. We are in a time where messages can be sent across seas in a matter of seconds, not months. This is a world where information and news can be received by anyone in the convenience of their own homes. This is the privilege of living in this decade.But what's next The communication technologies at work today may be at its finest but there always are innovations up ahead. A few years ago, the GPRS services seemed like the future, but it is now perceived as slow, expensive and is too much of a hassle. That is why a new generation of mobile telephone communication system was developed, the 3G.3G technology is short for third generation mobile telephone communication system technology. This technology promises better, faster and more efficient data transfer through cellular phones. It boasts 2Megab ites per second data transfers which allow video calls, conferencing, mobile banking, map positioning services and internet access among others. With this transfer rate it is the task of the service providers to utilize it to the fullest by giving a variety of services for the subscribers. Along with the above mentioned 3G capable cell phones will still have conventional voice and messaging services.The institution responsible for standardizing 3G is the International Telecommunication Union or ITU. The standards for 3G are specifically known as the IMT-2000. This stands for International Mobile Telecommunications system finalized in the year 2000. After this establishment, the development of physical equipments may then proceed. In May of 2001, the first pre-commercial 3G network was launched in Japan branded FOMA. The company responsible for this is NTT DoCoMo. This same company then launched the first commercial 3G in Japan on October of the same year. Korea and Europe then followed. (Wikipedia) Mobile phones were originally just for voice data transmissions, much like its land line forefathers. This was considered the second generation or 2G. But with the increase in demand for better audio qualities and later on the demand for faster data transmissions, a better system is require, this lead to the development or 3G. The first step to this change was the switch from 2G to GPRS or General Packet Radio Service. With this change came the increase in data rates from 56kbps to 114kbps. This now will allow not just voice data but also short message service (SMS), Multimedia Messaging Service (MMS) and wireless application protocol (WAP). Another change made was the per-megabite charging as oppose to the per-minute charging of 2G. Continuing, the GPRS service, otherwise known as 2.5G, was upgraded to 2.75G or Enhanced Data rates for GSM Evolution. By definition, EDGE falls under IMT-2000 and should be called 3G but it is more frequently referred to as 2.75G, but it is more like an improved GPRS than 3G. (Wikipedia) According to the ITU, the key characteristics of IMT-2000 are flexibility, affordability, compatibility with existing systems and modular design. It is said to be flexible because it can accommodate five possible radio interfaces based on three different technologies which are FDMA, TDMA and CDMA. This avoids the problem of supporting a wide range of different interfaces and technologies. It is also agreed to make it more affordable so as to encourage the adoption by consumers and operators. The existence of the present technologies will also not cease because 3G is also compatible with these. And finally, the 3G system should be easily expandable in order to allow growth. Specifications 3G may have all the bells and whistles to brag about but it is, for a fact, a cellular telephone system, and all cellular telephone systems function the same way. The basic concept of two-way mobile telephone is quite simple; however, mobile telephone systems involve intricate and rather complex

Na Research Paper Example | Topics and Well Written Essays - 500 words

Na - Research Paper Example 5. Briefly explain the difference between the qualitative and quantitative risk analysis processes. Qualitative risk analysis process is done through the use of questionnaires and workshops in order to calculate the relative values of assets while a quantitative risk analysis is done through assigning hard financial values to assets. 6. Why is it so necessary to have a diversified team with a variety of experiential and work-related backgrounds for the RA? It is necessary to have a diversified team with a variety of experiential and work related background for the RA to be able to bring out their knowledge, experience and understanding about the assessment and to respond effectively to new dangers as they arise. 7. a) Briefly describe how each selection below is a threat to a network and b) list two vulnerability examples that you would look for/interview for when researching each. Do not provide the same vulnerability for more than one threat. The computer software will crash or will have system failure that results to software bug, power failure and malfunction of the system. The improper use of computers by humans and the system was not designed well are the vulnerability examples of this kind threat. They can create a serious risk to information security. Using unauthorized personal devices such as USB on secure network and passing secret information over non secure method or system to get information are the vulnerability examples of this kind threat. This threat alters or removes information from files. Not having policy restricting the provision of information by the staff of the phone and the system doesn’t have a protected password are the two vulnerability examples of this kind threat. This threat slows down the computer and destroys the computer files. The software doesn’t have anti-virus and the programs downloaded from the internet has malicious software in it are the two vulnerability examples of this kind threat. This

The constructivist philosophy in the modern pedagogy Essay

The constructivist philosophy in the modern pedagogy - Essay Example Application Summary The following essay is focused on the constructivist philosophy and its significance in terms of contemporary education. The essay will review the constructivist philosophy and its complementary technology that has become popular in the modern pedagogy. The constructivist curriculum exemplifies futuristic and flexible technology tools. Web 2.0 tools strengthen the constructivist curriculum by providing it the most efficient technology tools to address cognitive needs of analyzing, interpretation and inquiry. This third wave is still undergoing a change, which may bring about more possibilities and more accomplishments in the field of education. This metacognitive philosophy will be utilized as an instrument of change for constructing a constructivist technology centered system. In order to provide an analysis of constructivist academic activities and make an evaluation of effective teaching technologies, statistics and research must be perused. This project will provide an analysis and evaluation through the author’s wiki page and power point presentation. The effectiveness of ineffectiveness of the constructivist educational activities can be shown through both modern means of technology. The author predicts a successful analysis of constructivist pedagogy. The evaluation of the analysis of constructivist pedagogy will be based on the author’s analysis. Hopefully, the evaluation will be successful, but the possibility of ineffectiveness will be considered.

Electrical Cars Research Paper Example | Topics and Well Written Essays - 2000 words

Electrical Cars - Research Paper Example It is estimated that more than one third of the total energy such as natural gas, diesel, and gasoline in the world goes to driving automobiles. Today, auto industries are in the toe-tip of enhancing transition into electrical cars. This is because of several forces that limit growth of the oil industry and automotive businesses. These limiting factors have made engineers implement varieties of propulsive systems that require other forms of energy instead of oil. General Motors has, therefore, come up with very promising configuration of battery electric vehicles (BEV) to supplement combustion engine. An electric car is an automobile design that uses electrical motor to power the car with electricity provided by the batteries. Batteries used in these cars have varying designs with lead-acid and lithium ion sillier as compared to the ones used in mobile phones and laptops. Evolution of electric vehicles has been met to address depression of fuel resources and prevention of air polluti on. Emission of harmful hydrocarbons has been a major global issue that has mitigated car manufacturers to invent and adopt less harmful machineries. In addition, over the years there has been an increase in awareness among people across the world to adopt eco-friendly means by going green due to the recent dangers of global warming. Electric vehicles have, therefore, been the potential option to save the world from harmful gases emitted by petroleum driven cars. These modes of cars have taken a long journey since 1996 when General Motors produced the first modern electric car in the world. The recent electric cars that have been introduced are Chevrolet Volt, Tesla Roadster, and Nissan Leaf. These cars have made a very great stride in the current technology and acceptance of the consumers. This is because they have been considered as a major step of reducing dependency on petroleum products, protecting the environment, and improving sustainability of transport across the world (Ebe rhard & Tarpenning, 2006). It is estimated that electric cars can cover a distance of 100 miles per hour, which makes them the fastest cars in the world. This has given these cars higher popularity and sales in various countries like the United States and United Kingdom. In 2011, sale of electric cars in the United States has risen to about 350 thousand units. Many customers purchased these cars so as to qualify for tax incentives that were imposed by federal governments on petroleum products during economy recession. Despite General Motors’ willingness to combat global warming, the company always faces a barrier of electrifying car industries due to the limited range of the electric cars. This barrier is mainly observed on the consumers’ side – they are afraid of getting stranded alongside roads with empty batteries (Haaren, 2011). Although there is great emphasis on protecting the environment through using environmental friendly cars, people need to be realist ic about their benefits. This is because electric cars have very significant disadvantages that create limitation to their use and wide spread availability. In addition, these disadvantages give reasons why people tend not to use electrical vehicles across the world. The research in this paper, therefore, aims to provide insight on how General Motors should increase its interest in electrical cars by making electrical cars more fan, fixing the

Inland freight exam qns Assignment Example | Topics and Well Written Essays - 1750 words

Inland freight exam qns - Assignment Example If any two shops require the stocks and if they are located nearby to each other in the adjacent sectors (east and south), then one vehicle will be sufficient to replenish the stocks to the two shops. The same can be extended to two, three, etc., number of shops considering the distance and the load. Another most important factor to be considered is the traffic in the city which will delay the delivery resulting in the dissatisfaction of the customers with the factory. The distance of the shop outlet to be recorded in the sheet must be the shortest distance with free of heavy traffic. A delivery to a shop outlet can have various traveling path but while locating the path for the delivery, it should be taken care that a traffic free path is chosen which will be better than getting into traffic path. In case, there are many shop outlets located in a single sector (any one region), then the number of vehicles to complete the delivery will be reduced. From the above points, it is very cl ear that the delivery plan depends on four factors namely location of the shop outlets, number of shop outlets in a location, various travel paths and distance of the shop outlet from the factory. 2. Explain the techniques used to retain firm control of transport costs The transport costs can be controlled by efficiently planning the deliveries with respect to the shop location, number of outlets in a location, travel distance, travel path, availability of vehicle and availability of vehicle drivers. Each time when a delivery is initiated, it can be made a regular task of recording the start time, distance in kilometers traveled acknowledged by the shop outlet to the factory so as to be aware among few drivers who will simply record more distance for higher pay. A cost benefit analysis can be made with these details on periodical basis which will be useful to track the cost controlling. The recording of kilometers will help to minimize the diesel fuel cost and also avoid being cheated by the drivers. The pay to the drivers for delivering the stocks should be reasonable. At the same time, it should not be the case of committing a unreliable driver who is ready to accept low pay. The pay should be made in such a way that driver is reliable all the t ime. The vehicles should undergo periodical maintenance to reduce the cost on repairs. Even if the vehicle is operating for a long time (beyond one year) without any problem, the maintenance on the particular stipulated date should be done and reported since it might result in accumulated repairs which will result in increase of the maintenance cost per year. The training cost for the drivers should be the least one and for that drivers who are well trained and aware of the routes in the city can be selected. This may include some cost of testing the driver. The temporary use of staff will be affecting the costs more since the drivers demand more pay when they are asked to make an immediate delivery. At that time of demand, it becomes essential to use them so as to satisfy the customers and to retain their

History of Architecture Essay Example for Free

History of Architecture Essay 1. Comparing and contrasting Minoan and Mycenaean architecture, describe how the two architectures are different and why. Minoan architecture was characterized by a number of structures that acted as epicenters for religious, commercial, and administrative lifestyles. In the recent past, archeologists discovered tombs, palaces, towns, and roads in Crete which symbolized the Minoan landscape. All this evidences the pre-historic culture that survived in the Aegean Sea. Minoan palaces were used to hold gatherings, workshop for artists and food stores. The palaces were multi-storied buildings with impressive exterior and interior staircases. The tombs were built in round shape with a flat wood-framed roof. It was not until Neopalatial period, 1700-1400 BC that Minoan towns started to emerge and easier linkage between the towns and palaces, roads were developed via the interior of the island (Marquand, 2008). On the other hand, Mycenaean architecture came into being in the Mycenaean period and most of their architecture is indebted to architecture of Minoans of Crete. An outstanding characteristic feature of Mycenaean architecture comprises of megaron, usage of exceptionally large stone blocks, corbel vaulting, and large fortification walls. Besides, the Bronze Age Cities’ plan and layout on the mainland resembled that of palaces of Crete to a large extent. Some of the major Mycenaean architectural projects were huge tombs, city planning, and palace. Palaces in the Minoan period had an open, vast courtyard whereas in Mycenaean megaron –indoor hall. Mycenaean architecture is also said to have been characterized by professional engineering works -evidenced by size of stone blocks used in constructing walls. Later their work was referred to as Cyclopean architecture by the Greeks and another distint feature from from the Minoans was the technique used in corbel vaulting. Therefore, Mycenaeans can be said to have been more technical in the architectural works as compared to the Minoans (Marquand, 2008). 2. Discuss the evolution of the Greek temple form from its early days as a megaron to how it is represented in the Hellenistic period. How and why did it evolve in the way that it did? A number of earliest Greek Temples are up to date the orientalizing and geometric periods. The temple had a votive model which in most cases was found in tombs and the basic geometric style of an ornament. The persistent advancement of the Greek Temple was was characterized by an addition of more columns, increased size, and inclusion of general underlying base of three steps. Therefore, the columnar screens and base generated a symbolic and visual transition from the normal world to the space of the temple. The progression of the Greek Temple involved a number of stages: the first stage is the megaron –indoor hall- which saw it being used as temple and it was initiated in the Mycenaean period; second stage was characterized by initiation of peristyle and an increased size; stage three was evidenced by completion of the peristyle, integration of the monumentality of Egyptian temple, symmetrical construction, and architectural design in conformity with requirements of Golden Se ction (Marquand, 2008). The Greek Temple has therefore totally remained to be a monument and it does not seem to combine its setting with the Mycenaean and Minoan designs. The temple is also a major achievement by human beings to have accomplished and the Temple represents an exceptional object from the natural environment. Consequently, the Temple has continued to serve as a commemoration of the geographical sacredness and provision of sanctification through a terrace that acted as the temple’s pedestal. It is also worth noting that the aforesaid column parts of the Temple does not match to natural forms such as plants or trees since the basic assumption was to evoke a human rationale and reasoning as opposed to monumentalism. The masterpiece of Greek architecture continued to evolve into classical designs (500-323 BC) and Hellenistic designs (323-27 BC) and it was evidenced by improved engineering skills applied in constructing towers (Ibid, 2008). 3. Describe the sensory experience of the Panathenaic Procession that would lead you to the Acropolis and up into the complex. It is quite evident that when one takes a closer look in the historical books of ancient Greek and during the Classical period that there was a direct relationship between religion, politics, and art or architecture. Historians have established that first temples were created to house cults and in particular to facilitate religious practices in the community. Parthenon as a temple was spectacularly placed in the ‘Holy City’ of Acropolis and hence acted as a means with which people could link the temple to their past. A notable feature is the Panathenaic Procession as it represented the religious and social lifestyles of the Athenians. Besides, the Procession was part and parcel of festivities that honored Athena, panathenaea which was commemorated annually. The procession comprised of ritual presentation of new cloaks or peplos to the ceremonial Athena statue (Neils, 1992). After every four years, a presentation of a huge peplos was made to the Grand Panathenaea within the Parthenon. Subsequently, every other successive year, Panathenaic Procession was marked by peplos presentation to Athena within the Erechtheum. As a formality, the Panathenaic Procession was started at Diployn Gate and traversed Agora with the final destination being in Acropolis. The activity of most importance to the women as during the period they performed a lot of activities such as weaving and presenting huge peplos to Athena every fourth year in Pathenon and smaller peplos to Athena in Erechtheum on yearly basis. Phases of Procession were represented by the frieze of the Parthenon that extended to a length of about 160 Metres. It stretched from the South West end of the Temple –with horse riders- to the North and West sides before heading to South, West sides (Neils, 1992).

Bismarcks appointment of Minister President of Prussia Essay Example for Free

Bismarcks appointment of Minister President of Prussia Essay Bismarcks appointment of Minister President of Prussia (1862) was the most important turning point in the course of German nationalism in the period 1815-1919? By 1919 Germany had been united, and the nature of nationalism had changed from a freedom seeking, democratic force into one which demanded popular subservience to the state. German nationalism had clearly changed radically over the period of more than one hundred years and defining the turning point at which it changed is difficult due to the sheer number of factors that impacted upon it as well as the vast number of events and organisations which interfered with its development. Otto von Bismarck would become viewed in later years as the father of German nationalism. When he came to power 1862 the Kaiser was looking for a man who could oppose the liberals and force through a favourable army bill. However, within just nine years Germany would have become united, not without the help, though not always willing, from Bismarck. Bismarck effected the unification of Germany almost single-handedly. However, many of the opportunities which Bismarck actually attempted to manipulate were neither created by him nor very successful. Bismarck did not always manage nationalism as effectively as it is suggested. The Franco-Prussian War in 1870-71 forced to unite with the southern states in Germany when in reality it would have been unlikely that he desired this. Prussia was still attempting to absorb the north German states and to add the southern states, especially with their un-Prussian culture, risked diluting Prussias culture too far. It is clear that in 1890 Bismarck was managed by nationalism because he was forced to resign due to the outpouring of nationalist feeling that resented him attempting to hold Germany in check. He represented the old Germany, a Prussian dominated one and in an effort to find a German chancellor he was removed from office. Even the Dual Alliance in 1879 demonstrated how German nationalism forced him to take actions against his will. With his Prussian upbringing his loyalties more likely lay with Russian rather than Austria and the decline of Austria was increasingly clear for all too see, to join the young, powerful Germany with this crumbling empire would do nothing to help the country yet nationalistic feeling in Germany forced the Alliance. Bismarcks appointment in 1882 was an important moment in German nationalism but the theory that one man had such an impact upon the fate of a nation does not stand so well in light of deeper scrutiny. The Congress of Vienna held in 1815 helped create an environment which would help the growth of German nationalism. Prussias gains in the west of Germany were actually intended by the Allies to be a burden. They had given the smallest of the Great Powers the most difficult job as acting as a barricade against France. However, this would backfire on the Allies when it would later become Germanys massive industrial growth. It also affected the nature of Prussia, whereas she had previously been a predominantly Eastern European power she now had a pan-German outlook, though it appeared to begin with that she had little in common with her western population. The distance between the two main blocks of land meant that transporting goods between the two would prove difficult and this would spur the creation and development of the Prussian Customs Union in 1818 which would later become the Zollverein in 1834. However, when at the Congress of Vienna the Allies faced the question of what is Germany they fell back on historical precedent, the Holy Roman Empire. This can be seen as a retrospective step because it actually excluded areas of both Austria and Prussia, as well as making many of the smaller states much larger. The Congress of Vienna was not a turning point in German nationalism, but without it the nature of Germany could have been very different from that with which we are familiar if it existed at all. The creation of the Zollverein in 1834 was a critical turning point for German nationalism, formed from the Prussian Customs Union in 1818. Thomas Nipperdy described the creation of the Zollverein as the outstanding event in all-German history. Given the basis as a pan-German union it improved the contacts between all of the German states, encouraging them to work together for mutual benefit and broke down barriers between the regions of Germany both officially and culturally. It is often the case that economic unity leads to political as appears to be the case with the EU, formerly the European Economic Community (EEC) and the push for a European constitution. However, German political unity was far from inevitable, many Germans now saw political unity as obsolete because they achieved all the benefits of such a union without the risk of losing any of their own unique regional culture. The Zollverein was also critical in training a new cadre of diplomats for Prussia and teaching them to administer a German organisation, experience which would be invaluable in the post-unification era. Bismarck once declared in a speech to the North German Reichstag in 1869 that He who has his thumb on the purse has the power and by taking the economic leadership of the German states Prussia rose importantly and a Kleindeutsch solution to the German problem became much more feasible. It also struck a double blow in this respect. It not only made a Prussian-led Germany more likely but it made an Austrian-led Germany less likely. Because of her exclusion from the customs union the Austrian economy suffered and her already fragile market became on step closer to failing and this would be one of the major reasons for her defeat to Prussia. The use of the economy mirrored the nature of German nationalism; initially it was a liberal move, the reduction of trade barriers embodied by the introduction of the Zollverein. However, by the time unification was achieved economic policy turned its back on liberalism and the economic protectionism Bismarck employed against Russia helped show how far nationalism had changed. The Zollverein would form the template upon which the German Empire would eventually be founded, a kleindeutsch dominated by Prussia. Some historians even go so far to view the whole of the unification of Germany as purely an economic transaction, that it was not driven by political ideology but by the cold logic of money and economic expansionism. The Zollverein did represent an important twist in the history of German nationalism but it did not utterly change the face of the ideology but simply made the prospect more likely. In addition to this, the success of the Zollverein would provide the necessary environment for the rapid expansion of industry within German and this would have a critical impact upon nationalism. 1848 can very easily be viewed as the critical turning point in the history of German nationalism. It is often seen as a turning point about which history failed to turn, and it is this very failure which makes it such an important date in the history of German nationalism. 1848 presented revolutionary factions within Germany, and other countries throughout Europe, with a window of opportunity. In Paris the Second Republic is established in a welter of violence; in Sicily the Palermo Uprising takes place; in Hungary revolution boils over; Swedish revolutionaries are gunned down by their government and in Ireland the potato famine sparks the Tipperary Revolt. To the established order it appeared that stability was breaking down and anarchy threatened them. It was in this climate of exceptional change that the German revolutionary effort failed. The dithering incompetence of the middle classes, coupled with their glaring impotence discredited liberal politics and any idea of a revolution from below. This would prove potentially dangerous for the development of German nationalism. Divorced from its liberal and democratic roots it became a force of the right and of the paternalist government. This resulted in the desire for individual freedoms being sacrificed for the will of state. The government was paranoid about the dangers of the socialist movement within Germany, but they actually shared many common ideals, most markedly the concept of the priority of the state over the individual. It became obvious that power and change could not be achieved without the power of an army to back themselves; Bismarck summarised this problem in his most famous speech the great questions of the day will not be decided by speeches and majority decisions that was the error of 1848 but by iron and blood. Given our knowledge of how German nationalism developed into a violent, racist, militaristic force it is clear to see that 1848 was a seminal moment in its development, the pre-1848 liberal, French-styled nationalism became a force of the militant right. 1848 also represented a turning point for German nationalism in a European context. It appeared that countries were naturally progressing from being authoritarian monarchies to becoming nationalistic, liberal democracies. Germanys refusal to follow this trend fundamentally altered the nature of German nationalism. This turning point about which history failed to turn left something rotten at the core of German nationalism. The change from idealism to brutal pragmatism, combined with the machinations of Bismarck and the authoritarian government meant that the German peoples cause was subverted and used as a weapon against those European powers who had abused Germany for such a long time. On the 18th of January 1871 the German Empire was proclaimed in the Hall of Mirrors at Versailles. This can easily be seen as a turning point in German nationalism, it finally created what the nationalists had been striving for over the past half century. Though it is true that the majority of what then became Germany existed in the North German Confederation created 4 years earlier after Prussias victory over Austria it represented a subtle but important shift in the history of German nationalism and the process of reaching the announcement played a very important role in defining the new Germany. Even the date upon which the Empire was announced held special significance, 270 years earlier the first Elector of Brandenburg was crowned King in Prussia. This clearly symbolically established Prussian hegemony over the newly created German Reich. Even the fact that the proclamation was made at Versailles was more significant than simple a quick expediency. Were the proclamation were to be made in Berlin, the capital of the new Empire, it would have most likely been made in Parliament. For Bismarck this would have been intolerable, in his eyes it was the army and their feudal, warlord leaders who had united the new empire rather than the romantic liberals and their speeches and majority votes. The Reich was declared in the home of imperial power, Versailles was the benchmark against which all other symbols of imperial might were measured and it clearly showed how the ruling elite of the new Germany planned to rule the country. It would be easy to say that it was a simple political humiliation for the French to have their enemies declare their new country in the French capital but to do this would ignore the deeper significance of both the time and place it was made. Nationalism within Germany underwent many changes over the period from 1815 to 1919. It suffered from a gradual change from its ideals over the time and it is difficult to differentiate between the impacts that the different potential turning points had on German nationalism. However, the most seminal moment in the history Germany nationalism was when it shifted indelibly from the idealists views to the pragmatic views of the industrialists within the country. 1866 can be seen as the turning point in the unification of Germany rather than a turning point in the nature of German nationalism. The failure of democracy in 1848 at a time when many other revolutions had succeeded left many Germans with the view that it would only be through violence and warfare blood and iron that their dreams would ever be realised.

Determinants of Debt Maturity Structures in Pakistan

Determinants of Debt Maturity Structures in Pakistan CHAPTER 1 Rapid changes in financial service industries make it essential to determine the profitability of financial institution. Banks plays a key role in financial market of a country and for this its very important to evaluate that bank operate in efficient manner also what are the factors which affect the profitability of banks. A bank generates profit from the differential between the level of interest it pays for deposits and other sources of funds, and the level of interest it charges in its lending activities. Historically, profitability from lending activities has been dependent on the needs and strengths of customers. In modern era, investors have demanded a more stable revenue stream and banks have therefore placed more emphasis on transaction fees, primarily loan fees but also included service charges on an array of deposit activities and other services (international banking, foreign exchange, insurance, investments, wire transfers, etc.). Lending activities provide the huge size of income to commercial banks. In the past 10 years banks have taken many measures to ensure that bank remain profitable while responding to increasingly changing market conditions. Financial sector of Pakistan structured on Scheduled and Unscheduled Banks. Scheduled Banks are regulated by the State Bank of Pakistans Regulations, through different wings, and are subject to different SBP regulatory requirements such as capital and liquidity reserve requirements. The financial division analysts were projected higher profitability in 2008. That projection made possible because State Bank of Pakistan has raised its discount rate in which the banks can invest to earn a good return. The rising lending rates contributed considerably to ensuring an increased profitability acknowledged by State bank of Pakistan. Factors that affect the profitability of Commercial Banks are both Endogenous and Exogenous. Endogenous factors are within the Control of Management such as quality of management and its policies, efficiency of management in generating revenues and controlling costs, bank capitalization and location. Exogenous factors are outside management control, especially macro economic indices such as Interest rates, Exchange rates, Inflation, and other regulatory and market constraints. The banking sector has been a source of stability for this country, because as you have seen in many countries, the banking sector has weakened and outright nationalization has taken place in some countries. However, the reforms that have taken place in Pakistan banking sector over the past 8 to 10 years have given stability and strength to this sector. There are some ratios, by which can measure the strength of a banking sector, and the most important amongst those ratios is Capital Adequacy; our countrys average capital adequacy 8 percent some banks have less or some banks have more. Macro stability taken some time to trickle down was not something that happens over a month or two, because macro stability causes improvement in the confidence and that improvement caused investment decisions to become positive. As Pakistan banking sector presented stable condition. The country was not very export-dependent either, which is why the global decrease in trade has not had a big impact on Pakistan. Pakistan has the potential to achieve self-sufficiency over a period of time and create a major surplus for agriculture. Banks in Pakistan over the last eight to ten years have been more selective in the client base, apart from the consumer side, because the consumer loans are only 14 percent of the total loans its much lower than other countries. Country had faced some problems in the consumer loans, especially those banks that had become too aggressive in this sector, but the rest whether its corporate or agriculture have remained stable. Growth of Banking Sector: Profitability of the banking sector has been breaking its own record year after year during this ongoing decade. The commercial banking sector in Pakistan regulated by the state bank of Pakistan. SBP introduced several structural changes. Beside higher standards of corporate governance at management and board level, the banks are adhering to SBP prudential regulations, consistent with BIS standards. 36 Commercial Banks (26 local banks and 10 foreign banks) of which 22 were listed on stock exchange. Many merger/acquisition took place. Asset of banking sector registered a increase to reach at Rs 3.7 trillion (2005) with annual growth rate of 15.2% that outpaced economic growth (2005-06) 85 % of banking sector are in private hands. 1.3 Earning And Profitability Strong earnings and profitability profile of banks reflects the ability to support present and future operations. More specifically, this determined the capacity to absorb losses, finance its expansion programs, pay dividend to its shareholders and build up adequate level of capital. There were many different indicators used to serve the purpose, the best and most widely used indicator return on assets (ROA). Earning demanded most visible in case of foreign banks in 1998. The stress on earnings and profitability was expected although the steps taken by the SBP to improve liquidity. Not only liquid assets to total assets ratio turn down sharply, earning assets to total assets also dropped. T-Bill portfolio of banks declined considerably, as that were less compensated. Banks reduced return on deposits to sustain their spread. The financial institutes were not able to contain the decline in ROA due to declining stock and remuneration of their earning assets. CHAPTER 2 LITERATURE REVIEW Research on the determinants of bank profitability has focused on the returns of bank assets and equity, and net interest rate margins. It has traditionally explored the impact on bank performance of bank-specific factors, such as risk, market power, and regulatory costs. Many researchers have focused on the impact of macroeconomic factors on bank performance and profitability. According to Flennery (2000) tested the hypothesis that market rate fluctuations adversely affect commercial bank profits. The finding have responded of revenue and cost of fund to market rate changes then determine whether regulators should take pains to stabilize market conditions. Market rate levels emerge as a prominent influence on intermediary costs and revenues, but the effects of market rate changes effectively cancel one another for most large banks. The research found significant sensitivity to interest rate and it was unstable over the time. By Brick (1994) estimated of market risk, interest rate risk, and foreign exchange risk continues to be unstable. The result of risk differed by bank type and period. As interest rate risk declines, foreign exchange increases; the result suggested that the market continues to reflect changes in the economic and regulatory situation of commercial banks in the pricing of bank stocks. The adverse impact of Interest Rate fluctuations on the profitability of Commercial Banks can be hedge with sound application of modern interest rate risk management theories and tools. Used accounting decompositions, as well as panel regressions, Al-Haschimi (2007) studied the determinants of bank net interest rate margins in 10 Sub Saharan African countries. Author found that credit risk and operating inefficiencies explain most of the variation in net interest margins across the region. Macroeconomic risk has only limited effects on net interest margins in the study. DemirgÃÆ' ¼ÃƒÆ' §-Kunt and Huizinga (1999) used bank level data for 80 countries for the periods 1988-95; analyze how bank characteristics and the overall banking environment affect both interest rate margins and bank returns. In considering both measures, this study provides a decomposition of the income effects of a number of determinants that affect depositor and borrower behavior, as opposed to that of shareholders. Results suggested that macroeconomic and regulatory conditions have a pronounced impact on margins and profitability. Lower market concentration ratios lead to lower margins or profits, while the effect of foreign ownership varies between industrialized and developing countries. Foreign banks have higher margins and profits compared to domestic banks in developing countries, while the opposite holds in developed countries. Hualan Cia and Weing (1992) studied on the effect of interest rate change on stock return and bank profitability, investigated the sensitivity of Canadian banks stock return and the profitability to change in interest rate. Used the data of Canadian banks on both the actual and unexpected change of different time series of interest rate indices, the short, intermediate and long term interest rate have significant negative correlation with bank stock return and profitability. The analysis showed through regression analysis by calculated the ratios of financial statements of banks. This measured the Canadian bank profitability against interest rate changes found that the net interest income and net income were not significantly related to change of interest rate. Flannery (1981) the study examined the relation between the interest rate sensitivity of common stock returns and the maturity composition of the firms nominal contracts. Used a sample of actively traded commercial banks and stock savings and loan associations, common stock returns are found to be correlated with interest rate changes. The co-movement of stock returns and interest rate changes positively related to the size of the maturity difference between the firms nominal assets and liabilities. Facts supported the hypothesis that the effect of nominal interest rate changes on common stock prices related to the maturity composition of a firms net nominal asset holding. For commercial bank and SL stocks, changes in interest rates were found to be significantly related to stock price movements. Also cross-sectional variation in the interest rate sensitivity measure was significantly related to the maturity mismatch of the bank assets and liabilities. Dependable with the nominal contracting hypothesis, the maturity composition of nominal contracts was found to be a significant factor affecting common stock returns. Coyne (1973) Commercial Bank Profitability by Function, The study was concerned with the cost, price and profit by function. It estimated the profit for real estate, installment, commercial and agricultural loans, and investments for banks stratified by size of deposit and the method, that was used to make that determination; the degree to which the average price (interest rate) by function known to the bank and, expressed by a sample period, whether it was equal to or greater than the cost of funds by function; and the degree to which the bank was able to determine its profit by function. The results of the surveyed were representative of the aggregate commercial banking community, the study concluded by the cost of funds estimates to average balance sheet for the Representative Bank of America (RBA).Raw data were obtained from the Federal Reserve Bank of Clevelands functional cost analysis of forty-one banks. Surveyed to the chief executive officer of 510 commercial banks provides insight into the manner in which commercial banks utilize. The author designed to provide a method of cost and profit calculation to the numerous small and medium-sized banks who indicated in response to the authors survey that the author knew little or nothing about the costs by function. The results of the investigation in general and the profitability of RBA in particular representative of the entire banking community, this study was provide help to individual banks as well as policy-making levels of state and national government where questions concerning matters such as usury laws and price (interest rate) controls appear to be taking a disproportionately large amount of time and effort to resolve. Goddard, Molyneux and Wilson (2004) determined the dynamic panel and cross-sectional regressions used to estimate growth and profit equations for a sample of commercial, savings, and co-operative banks from five major European Union countries during the mid-1990s. Methodologically unified the growth and profit strands in the previous empirical literature. Profit was an important prerequisite for future growth. High capital assets ratio tendency grow slowly in banking sector, and growth was connected to macroeconomic conditions. There were few systematic influences on bank growth. The resolution of profit appears higher for savings and co-operative banks than for commercial banks has attempted to unify the growth and profit strands in the literature by examining the performance of European banks during the 1990s. It reported univariate, bivariate, and multivariate versions of a two-equation model, which attempts to capture two-way causality between growth and profit while controlling for a range of other determinants of bank performance. The growth regressions suggested as banks became larger in relative terms, their growth performance tended to improve further. This pattern was strongest for commercial banks. Banks that sustained high capital-assets and liquidity ratios records low profitability. There was some evidence of a positive association between concentration and profitability, but little evidence of a link between bank-level x-inefficiency and profitability. While such patterns continue, concentration in European banking exhibited a natural tendency to increase. There was proof of positive perseverance of growth, although this tends to decline when additional control variables were included in the bivariate and multivariate growth models. The estimated coefficients on the covered profit term in the growth equations lend strong support to the notion that profit is an important sign to future growth. In the profit regressions, there was some variation in the estimated short-run between ownership types and countries. This reflected the fact that savings and co-operative banks are subject to various business and geographical restrictions that smother competition. The study favored th e SCP hypothesis of a positive association between concentration and profitability, but little apparent relationship between bank level inefficiency and profitability. In Latin America, Gelos (2006) studied the determinants of bank interest margins using bank and country level data. Author found that spreads are large because of relatively high interest rates because of macroeconomic risk, including from inflation, less efficient banks, and higher reserve requirements. In a study of United States banks for the period 1989-93, Angbazo (1997) found that net interest margins reflect primarily credit. In addition, there was evidence that net interest margins are positively related to core capital, non-interest bearing reserves, and management quality, but negatively related to liquidity risk. Ho and Saunders (1981) applied the model of to analyze the determinants of interest margins in six countries of the European Union and the US during the period 1988-95. Authors found that macroeconomic volatility and regulations have a significant impact on bank interest rate margins. The results also suggested an important trade-off between ensuring bank solvency, defined by high capital to asset ratios, and lowering the cost of financial services to consumers, as measured by low interest rate margins. Athanasoglou, Delis and Staikouras (2006) applied a dynamic panel data model to study the performance of Greek banks over the period 1985-2001, and find some profit persistence, a result that signal that the market structure not perfectly competitive. The results also showed that the profitability of Greek banks shaped by bank-specific factors and macroeconomic control variables, which were not under the direct control of bank management and industry formation, did not appear to significantly affect profitability. Athanasoglou (2008) studied the profitability behavior of the south eastern European banking industry over the period 1998-2002. The empirical result suggested that the enhancement of bank profitability in those countries requires new standards in risk management and operating efficiency, which, according to the evidence presented in the paper, crucially affect profits. A key result that effect market concentration was positive, while the picture regarding macroeconomic variables was mixed. A number of studies have emphasized the relation between macroeconomic variables and bank risk. Saunders and Allen (2004) surveyed on pro-cyclicality in operational, credit, and market risk exposures. Such cyclical effects mainly results from systematic risk originate from common macroeconomic influences or from interdependencies across firms as financial markets and institutions consolidate internationally. It ultimately exacerbates business cycle fluctuations due to adverse effects on bank lending capacity. Using equity returns data over the period 1973-2003, Allen and Bali (2004) examined the disastrous risk of financial institutions. Results suggested evidence of pro-cyclicality in both tragic and operational risk measurements, implying that macroeconomic, systematic, and environmental factors play a considerable role in determining the risk and returns of financial institutions. Pi and Timme (1993) investigated the relationship of concentration of decision management and control in one person on the cost efficiency level of the bank and return on assets. On the basis of the study found that the banks whose Chairman and CEO be same person had significantly less efficiency than those banks that possessed not similar governance structure and show that performance was affected by top management structure. Isik and Hassan (2003) estimated cost, allocate, technical, pure technical and scale efficiency of Turkish banking industry from 1988 to 1996. This study considered capital, loan able funds as bank short-term loans, long-term loans, risk adjustment off balance sheet items and other earning assets as output of bank. Thistle, McLeod and Conrad (1989) have found that (a) balance sheet composition depends on both the level and change in interest rates , (b) banks response to changes in interest rates in different, depending on whether rates are rising or falling. Authors determined the relation between banks portfolio of assets and liabilities and interest rate was stable. Several possible caused of instability. The econometric techniques employed allow for continuous change in the structure of the empirical model. The study found that the portfolio-interest rate relationship depends on the level of interest rates and exogenous assets, as well as their rate and direction of change Samy Ben Naceur (2005) investigated the impact of banks characteristics, financial structure and macroeconomic indicators on banks net interest margins and profitability in the Tunisian banking industry for the 1980-2000 periods. The study found individual bank characteristics explained a substantial part of the within-country variation in bank interest margins and profitability. High interest margin and profitability tend to be associated with banks that hold a relatively high amount of capital, and with large overheads. The study found that the inflation had a positive force for net interest margin; while economic growth has no incidence. Another factor was financial structure and its impact on banks interest margin and profitability; found that concentration be less beneficial to the Tunisian commercial banks than competition whereas for stock market development had a positive effect on bank profitability. This reflected the corresponding between bank and stock market growth. The study found that the disintermediation of the Tunisian financial system was favorable to the banking sector profitability. Some authors examined on banking of south European region, the determinants of bank interest margins adopt two alternative modeling frameworks used dealership approach and a micro-model of the banking-firm approach, study found bank as a dynamic dealer, setting interest rates on loans and deposits to balance the asymmetric arrival of loan demands and deposit supplies by Staikouras. The bank interest margins were shown to be fees charged by banks for the provision of liquidity. The alternative approach was the micro-model of the banking firm, the study found the banking firm in a static way, setting where demands and supplies of deposits and loans simultaneously clear both markets. Choi, Elyasiani and Kopecky (1992) estimated a multi-index model that considered market risk, interest sensitivity, and exchange rate risk of commercial bank stock returns. Dummy models were used to separate the period of pre- and post-October 1979 and to split the results attributable to money center banks from other banks. A significant exchange rate effect occurs for money center banks after October 1979, while interest sensitivity was stronger before October 1979. The exchange rate effect was attributing to raised hedge foreign loan exposure of money center banks. The bank profitability typically measured by the return on assets (ROA) and/or the return on equity, usually expressed as a function of internal and external determinants. Internal determinant factors that were mainly influenced by a banks management decisions and policy objectives. Such profitability determinants are the level of liquidity, provisioning policy, capital adequacy, expenses management, and bank size. On the other hand, the external determinants, both industry and macroeconomic related, also known variables that reflect the economic and legal environments where the financial institution operates. By Bourke (1989) determined; Liquidity risk, arising from the possible inability of a bank to accommodate. Decreased in liabilities or to fund increases on the assets side of the balance sheet, considered an important determinant of bank profitability. The loans market, especially credit to households and firms, risky and has a greater expected return than other bank assets, such as government securities. That expected a positive relationship between liquidity and profitability. Duca and McLaughlin (1990) studied that variations in bank profitability were largely attributable to variations in credit risk, since increased exposure to credit risk normally associated with decreased firm profitability. Miller and Noulas (1997) suggested that the more financial institutions are exposed to high risk loans, the higher the accumulation of unpaid loans and the lower the profitability. Even though leverage (capitalization) has been demonstrated to be important in explaining the performance of financial institutions, its impact on bank profitability was ambiguous. As lower capital ratios suggest a relatively risky position, one might expect a negative coefficient on this variable. Molyneux and Thornton (1992) observed a positive relationship, suggesting that high profits earned by firms be appropriated in the form of higher payroll expenditures paid to more productive human capital. It should be appealing to identify the dominant effect, in a developing banking environment like Malaysia. Authors used Bank size to capture potential economies or diseconomies of scale in the banking sector. The variable controls for cost differences and product and risk diversification according to the size of the financial institution. The first factor could lead to a positive relationship between size and bank profitability were significant economies of scale, while the second factor negative one was increased diversification leads to lower credit risk and lower returns. Berger, Hanweck, Humphery (1987) discussed that marginal cost savings can be achieved by increasing the size of the banking firm, especially as markets develop. Eichengreen and Gibson (2001) suggested that the effect of a growing banks size on profitability may be positive up to a certain limit. Beyond the point, the effect of size was negative due to bureaucratic and other reasons. Bank profitability be sensitive to macroeconomic conditions despite the trend in the industry towards greater geographic diversification and larger use of financial engineering techniques to manage risk associated with business cycle forecasting. Generally, higher economic growth encourages bank to lend more and permits them to charge higher margins, as well as improving the quality of their assets. 2.1 The Determinants of Bank Performance: Studies on the determinants of banks interest margin and profitability have focused on single country sides and a panel of countries. 2.1a Single country studies As most of the studies on bank performance are conducted in the US and emerging markets. Neeley and Wheelock (1997) explored the profitability of a sample of insured commercial banks in the US for the 1980-1995 periods. Authors found that bank performance positively related to the annual percentage changes in the states per capita income. The main Studies on the determinants of banks performance in emerging countries were carried out in Colombia Barajas et al. (1999) document significant effects of financial liberalization on banks interest margins for the Colombian case. Although the overall spread has not declined after financial reform, the relevance of the different factors behind the bank spreads were affected by such measures. Another change linked with the liberalization process was the increase of the coefficient of loan quality after the liberalization. Afanasieff, Lhacer and Nakane (2002) make used of panel data techniques to uncover the main determinants of the bank interest spreads in Brazil. Ben Naceur and Goaied (2001) investigated the determinants of the Tunisian banks performances during the period 1980-1995. The research indicated that the best performing banks were those who had struggled to improve labor and capital productivity, maintained a high level of deposit accounts relative to their assets and had been able to reinforce their equity. Guru, Staunton and Balashanmugam (2002) attempted to identify the determinants of successful deposit banks in order to provide practical guide for improved profitability performance of these institutions. The study was based on a sample of 17 Malaysian commercial banks over the 1986-1995. The profitability determinants were divided in two main categories, internal determinants (liquidity, capital adequacy and expenses management) and the external determinants (ownership, firm size and external economic conditions). The finding of that study revealed that efficient expenses management was one of the most significant in explaining high bank profitability. Among the macro indicators, high interest ratio was associated with low bank profitability and inflation was found to have a positive effect on bank performance. 2.1b Panel country studies The panel country studies were focused on European companies and developed and developing countries. Molyneux and Thornton (1992) were the first to explore thoroughly the determinants of bank profitability on a set of countries. Authors used sample of 18 European countries during the 1986-1989. The finding represented a significant positive association between the return on equity and the level of interest rates in each country, bank concentration, and government ownership. Abreu and Mendes (2002) investigated the determinants of banks interest margins and profitability for some European countries in the last decade. The authors reported that well capitalized banks face lower expected bankruptcy costs and advantages translate into better profitability. Although with a negative sign in all regressions, the unemployment rate was relevant in explaining bank profitability. Bashir (2000) examined the determinants of Islamic banks performance across eight Middle Eastern countries for 1993-1998. A number of internal and external factors were used to predict profitability and efficiencies. Controlling for macroeconomic environment, financial market situation and taxation, the results showed that higher leverage and large loans to asset ratios, lead to higher profitability. The author reported in his study that foreign-owned banks are more profitable that the domestic. The result also found the evidence that taxation impacts negatively bank profitability. Final result of study was that macroeconomic setting and stock market development have a positive impact on profitability. DemerguÃÆ' §-Kunt and Huizingha (1999) examined the determinants of bank interest margins and profitability using a bank level data for 80 countries in the 1988- 1995 period. The set of variables included several factors accounting for bank characteristics, macroeconomic conditions, taxation, regulations, financial structure, and legal indicators. The study reported that a larger ratio of bank assets to GDP and a lower market concentration ratio lead to lower margins and profits. Foreign banks have higher margins and profits than domestic banks on developing countries, while the opposite prevail in developed countries. DemerguÃÆ' §-Kunt and Huizingha (2001) presented evidence on the impact of financial development and structure on bank profitability using bank level data for a large number of developed and developing countries over the 1990-1997 period. The study found that financial development has a very important impact on bank performance. It reported that higher bank development was related to lower bank performance. Stock market development on the other hand, leads to increased profits and margins for banks especially at lower levels of financial development, indicating complementarities between bank and stock market. CHAPTER 3 THEORETICAL FRAMEWORK AND HYPOTHESIS The interest rate assummed to be one of the most important factors that affect commercial banks profitability. The issue which deals in the study was the affect of market interest rate fluactuation has adversly related to commercial bank profitability. This thesis study bring opportunity to established a relationship between fluctuations in interest rates and the performance of commercial banks in Pakistan during the period of 2004- 2008. The main purpose of this study was to determine the implication of fluctuations in market interest rates on the profitability of commercial banks in Pakistan. This study provide Major causes of interest rate fluctuations The extent to which commercial banks are set to manage interest rate related risks. Major causes of Interest Rate Fluctuation were unstable government Policies, Unstable Economic Environment, unavailability of long-term funds, Inflation. The factors that affect the commercial bank profitability were significant mismatch in the maturity profiles of Assets and Liabilities, Frequent Interest Rate Fluctuations, under capitalization of banks, Poor Collateral of credits. Pakistans financial sector included nationalized, foreign, and private banks; and Non-banking Financial Institutions (NBFIs) which include Development Finance Institutions (DFIs), Investment Banks, leasing companies, modarabas, and housing finance companies. Scheduled Banks know as also commercial bank regulated by the State Bank of Pakistan regulated through different wings, and subject to different SBP regulatory requirements such as capital and liquidity reserve requirements. Factors that affect the profitability of Commercial Banks are both Endogenous and Exogenous. Endogenous factors are within the Control of Management such as quality of man Determinants of Debt Maturity Structures in Pakistan Determinants of Debt Maturity Structures in Pakistan CHAPTER 1 Rapid changes in financial service industries make it essential to determine the profitability of financial institution. Banks plays a key role in financial market of a country and for this its very important to evaluate that bank operate in efficient manner also what are the factors which affect the profitability of banks. A bank generates profit from the differential between the level of interest it pays for deposits and other sources of funds, and the level of interest it charges in its lending activities. Historically, profitability from lending activities has been dependent on the needs and strengths of customers. In modern era, investors have demanded a more stable revenue stream and banks have therefore placed more emphasis on transaction fees, primarily loan fees but also included service charges on an array of deposit activities and other services (international banking, foreign exchange, insurance, investments, wire transfers, etc.). Lending activities provide the huge size of income to commercial banks. In the past 10 years banks have taken many measures to ensure that bank remain profitable while responding to increasingly changing market conditions. Financial sector of Pakistan structured on Scheduled and Unscheduled Banks. Scheduled Banks are regulated by the State Bank of Pakistans Regulations, through different wings, and are subject to different SBP regulatory requirements such as capital and liquidity reserve requirements. The financial division analysts were projected higher profitability in 2008. That projection made possible because State Bank of Pakistan has raised its discount rate in which the banks can invest to earn a good return. The rising lending rates contributed considerably to ensuring an increased profitability acknowledged by State bank of Pakistan. Factors that affect the profitability of Commercial Banks are both Endogenous and Exogenous. Endogenous factors are within the Control of Management such as quality of management and its policies, efficiency of management in generating revenues and controlling costs, bank capitalization and location. Exogenous factors are outside management control, especially macro economic indices such as Interest rates, Exchange rates, Inflation, and other regulatory and market constraints. The banking sector has been a source of stability for this country, because as you have seen in many countries, the banking sector has weakened and outright nationalization has taken place in some countries. However, the reforms that have taken place in Pakistan banking sector over the past 8 to 10 years have given stability and strength to this sector. There are some ratios, by which can measure the strength of a banking sector, and the most important amongst those ratios is Capital Adequacy; our countrys average capital adequacy 8 percent some banks have less or some banks have more. Macro stability taken some time to trickle down was not something that happens over a month or two, because macro stability causes improvement in the confidence and that improvement caused investment decisions to become positive. As Pakistan banking sector presented stable condition. The country was not very export-dependent either, which is why the global decrease in trade has not had a big impact on Pakistan. Pakistan has the potential to achieve self-sufficiency over a period of time and create a major surplus for agriculture. Banks in Pakistan over the last eight to ten years have been more selective in the client base, apart from the consumer side, because the consumer loans are only 14 percent of the total loans its much lower than other countries. Country had faced some problems in the consumer loans, especially those banks that had become too aggressive in this sector, but the rest whether its corporate or agriculture have remained stable. Growth of Banking Sector: Profitability of the banking sector has been breaking its own record year after year during this ongoing decade. The commercial banking sector in Pakistan regulated by the state bank of Pakistan. SBP introduced several structural changes. Beside higher standards of corporate governance at management and board level, the banks are adhering to SBP prudential regulations, consistent with BIS standards. 36 Commercial Banks (26 local banks and 10 foreign banks) of which 22 were listed on stock exchange. Many merger/acquisition took place. Asset of banking sector registered a increase to reach at Rs 3.7 trillion (2005) with annual growth rate of 15.2% that outpaced economic growth (2005-06) 85 % of banking sector are in private hands. 1.3 Earning And Profitability Strong earnings and profitability profile of banks reflects the ability to support present and future operations. More specifically, this determined the capacity to absorb losses, finance its expansion programs, pay dividend to its shareholders and build up adequate level of capital. There were many different indicators used to serve the purpose, the best and most widely used indicator return on assets (ROA). Earning demanded most visible in case of foreign banks in 1998. The stress on earnings and profitability was expected although the steps taken by the SBP to improve liquidity. Not only liquid assets to total assets ratio turn down sharply, earning assets to total assets also dropped. T-Bill portfolio of banks declined considerably, as that were less compensated. Banks reduced return on deposits to sustain their spread. The financial institutes were not able to contain the decline in ROA due to declining stock and remuneration of their earning assets. CHAPTER 2 LITERATURE REVIEW Research on the determinants of bank profitability has focused on the returns of bank assets and equity, and net interest rate margins. It has traditionally explored the impact on bank performance of bank-specific factors, such as risk, market power, and regulatory costs. Many researchers have focused on the impact of macroeconomic factors on bank performance and profitability. According to Flennery (2000) tested the hypothesis that market rate fluctuations adversely affect commercial bank profits. The finding have responded of revenue and cost of fund to market rate changes then determine whether regulators should take pains to stabilize market conditions. Market rate levels emerge as a prominent influence on intermediary costs and revenues, but the effects of market rate changes effectively cancel one another for most large banks. The research found significant sensitivity to interest rate and it was unstable over the time. By Brick (1994) estimated of market risk, interest rate risk, and foreign exchange risk continues to be unstable. The result of risk differed by bank type and period. As interest rate risk declines, foreign exchange increases; the result suggested that the market continues to reflect changes in the economic and regulatory situation of commercial banks in the pricing of bank stocks. The adverse impact of Interest Rate fluctuations on the profitability of Commercial Banks can be hedge with sound application of modern interest rate risk management theories and tools. Used accounting decompositions, as well as panel regressions, Al-Haschimi (2007) studied the determinants of bank net interest rate margins in 10 Sub Saharan African countries. Author found that credit risk and operating inefficiencies explain most of the variation in net interest margins across the region. Macroeconomic risk has only limited effects on net interest margins in the study. DemirgÃÆ' ¼ÃƒÆ' §-Kunt and Huizinga (1999) used bank level data for 80 countries for the periods 1988-95; analyze how bank characteristics and the overall banking environment affect both interest rate margins and bank returns. In considering both measures, this study provides a decomposition of the income effects of a number of determinants that affect depositor and borrower behavior, as opposed to that of shareholders. Results suggested that macroeconomic and regulatory conditions have a pronounced impact on margins and profitability. Lower market concentration ratios lead to lower margins or profits, while the effect of foreign ownership varies between industrialized and developing countries. Foreign banks have higher margins and profits compared to domestic banks in developing countries, while the opposite holds in developed countries. Hualan Cia and Weing (1992) studied on the effect of interest rate change on stock return and bank profitability, investigated the sensitivity of Canadian banks stock return and the profitability to change in interest rate. Used the data of Canadian banks on both the actual and unexpected change of different time series of interest rate indices, the short, intermediate and long term interest rate have significant negative correlation with bank stock return and profitability. The analysis showed through regression analysis by calculated the ratios of financial statements of banks. This measured the Canadian bank profitability against interest rate changes found that the net interest income and net income were not significantly related to change of interest rate. Flannery (1981) the study examined the relation between the interest rate sensitivity of common stock returns and the maturity composition of the firms nominal contracts. Used a sample of actively traded commercial banks and stock savings and loan associations, common stock returns are found to be correlated with interest rate changes. The co-movement of stock returns and interest rate changes positively related to the size of the maturity difference between the firms nominal assets and liabilities. Facts supported the hypothesis that the effect of nominal interest rate changes on common stock prices related to the maturity composition of a firms net nominal asset holding. For commercial bank and SL stocks, changes in interest rates were found to be significantly related to stock price movements. Also cross-sectional variation in the interest rate sensitivity measure was significantly related to the maturity mismatch of the bank assets and liabilities. Dependable with the nominal contracting hypothesis, the maturity composition of nominal contracts was found to be a significant factor affecting common stock returns. Coyne (1973) Commercial Bank Profitability by Function, The study was concerned with the cost, price and profit by function. It estimated the profit for real estate, installment, commercial and agricultural loans, and investments for banks stratified by size of deposit and the method, that was used to make that determination; the degree to which the average price (interest rate) by function known to the bank and, expressed by a sample period, whether it was equal to or greater than the cost of funds by function; and the degree to which the bank was able to determine its profit by function. The results of the surveyed were representative of the aggregate commercial banking community, the study concluded by the cost of funds estimates to average balance sheet for the Representative Bank of America (RBA).Raw data were obtained from the Federal Reserve Bank of Clevelands functional cost analysis of forty-one banks. Surveyed to the chief executive officer of 510 commercial banks provides insight into the manner in which commercial banks utilize. The author designed to provide a method of cost and profit calculation to the numerous small and medium-sized banks who indicated in response to the authors survey that the author knew little or nothing about the costs by function. The results of the investigation in general and the profitability of RBA in particular representative of the entire banking community, this study was provide help to individual banks as well as policy-making levels of state and national government where questions concerning matters such as usury laws and price (interest rate) controls appear to be taking a disproportionately large amount of time and effort to resolve. Goddard, Molyneux and Wilson (2004) determined the dynamic panel and cross-sectional regressions used to estimate growth and profit equations for a sample of commercial, savings, and co-operative banks from five major European Union countries during the mid-1990s. Methodologically unified the growth and profit strands in the previous empirical literature. Profit was an important prerequisite for future growth. High capital assets ratio tendency grow slowly in banking sector, and growth was connected to macroeconomic conditions. There were few systematic influences on bank growth. The resolution of profit appears higher for savings and co-operative banks than for commercial banks has attempted to unify the growth and profit strands in the literature by examining the performance of European banks during the 1990s. It reported univariate, bivariate, and multivariate versions of a two-equation model, which attempts to capture two-way causality between growth and profit while controlling for a range of other determinants of bank performance. The growth regressions suggested as banks became larger in relative terms, their growth performance tended to improve further. This pattern was strongest for commercial banks. Banks that sustained high capital-assets and liquidity ratios records low profitability. There was some evidence of a positive association between concentration and profitability, but little evidence of a link between bank-level x-inefficiency and profitability. While such patterns continue, concentration in European banking exhibited a natural tendency to increase. There was proof of positive perseverance of growth, although this tends to decline when additional control variables were included in the bivariate and multivariate growth models. The estimated coefficients on the covered profit term in the growth equations lend strong support to the notion that profit is an important sign to future growth. In the profit regressions, there was some variation in the estimated short-run between ownership types and countries. This reflected the fact that savings and co-operative banks are subject to various business and geographical restrictions that smother competition. The study favored th e SCP hypothesis of a positive association between concentration and profitability, but little apparent relationship between bank level inefficiency and profitability. In Latin America, Gelos (2006) studied the determinants of bank interest margins using bank and country level data. Author found that spreads are large because of relatively high interest rates because of macroeconomic risk, including from inflation, less efficient banks, and higher reserve requirements. In a study of United States banks for the period 1989-93, Angbazo (1997) found that net interest margins reflect primarily credit. In addition, there was evidence that net interest margins are positively related to core capital, non-interest bearing reserves, and management quality, but negatively related to liquidity risk. Ho and Saunders (1981) applied the model of to analyze the determinants of interest margins in six countries of the European Union and the US during the period 1988-95. Authors found that macroeconomic volatility and regulations have a significant impact on bank interest rate margins. The results also suggested an important trade-off between ensuring bank solvency, defined by high capital to asset ratios, and lowering the cost of financial services to consumers, as measured by low interest rate margins. Athanasoglou, Delis and Staikouras (2006) applied a dynamic panel data model to study the performance of Greek banks over the period 1985-2001, and find some profit persistence, a result that signal that the market structure not perfectly competitive. The results also showed that the profitability of Greek banks shaped by bank-specific factors and macroeconomic control variables, which were not under the direct control of bank management and industry formation, did not appear to significantly affect profitability. Athanasoglou (2008) studied the profitability behavior of the south eastern European banking industry over the period 1998-2002. The empirical result suggested that the enhancement of bank profitability in those countries requires new standards in risk management and operating efficiency, which, according to the evidence presented in the paper, crucially affect profits. A key result that effect market concentration was positive, while the picture regarding macroeconomic variables was mixed. A number of studies have emphasized the relation between macroeconomic variables and bank risk. Saunders and Allen (2004) surveyed on pro-cyclicality in operational, credit, and market risk exposures. Such cyclical effects mainly results from systematic risk originate from common macroeconomic influences or from interdependencies across firms as financial markets and institutions consolidate internationally. It ultimately exacerbates business cycle fluctuations due to adverse effects on bank lending capacity. Using equity returns data over the period 1973-2003, Allen and Bali (2004) examined the disastrous risk of financial institutions. Results suggested evidence of pro-cyclicality in both tragic and operational risk measurements, implying that macroeconomic, systematic, and environmental factors play a considerable role in determining the risk and returns of financial institutions. Pi and Timme (1993) investigated the relationship of concentration of decision management and control in one person on the cost efficiency level of the bank and return on assets. On the basis of the study found that the banks whose Chairman and CEO be same person had significantly less efficiency than those banks that possessed not similar governance structure and show that performance was affected by top management structure. Isik and Hassan (2003) estimated cost, allocate, technical, pure technical and scale efficiency of Turkish banking industry from 1988 to 1996. This study considered capital, loan able funds as bank short-term loans, long-term loans, risk adjustment off balance sheet items and other earning assets as output of bank. Thistle, McLeod and Conrad (1989) have found that (a) balance sheet composition depends on both the level and change in interest rates , (b) banks response to changes in interest rates in different, depending on whether rates are rising or falling. Authors determined the relation between banks portfolio of assets and liabilities and interest rate was stable. Several possible caused of instability. The econometric techniques employed allow for continuous change in the structure of the empirical model. The study found that the portfolio-interest rate relationship depends on the level of interest rates and exogenous assets, as well as their rate and direction of change Samy Ben Naceur (2005) investigated the impact of banks characteristics, financial structure and macroeconomic indicators on banks net interest margins and profitability in the Tunisian banking industry for the 1980-2000 periods. The study found individual bank characteristics explained a substantial part of the within-country variation in bank interest margins and profitability. High interest margin and profitability tend to be associated with banks that hold a relatively high amount of capital, and with large overheads. The study found that the inflation had a positive force for net interest margin; while economic growth has no incidence. Another factor was financial structure and its impact on banks interest margin and profitability; found that concentration be less beneficial to the Tunisian commercial banks than competition whereas for stock market development had a positive effect on bank profitability. This reflected the corresponding between bank and stock market growth. The study found that the disintermediation of the Tunisian financial system was favorable to the banking sector profitability. Some authors examined on banking of south European region, the determinants of bank interest margins adopt two alternative modeling frameworks used dealership approach and a micro-model of the banking-firm approach, study found bank as a dynamic dealer, setting interest rates on loans and deposits to balance the asymmetric arrival of loan demands and deposit supplies by Staikouras. The bank interest margins were shown to be fees charged by banks for the provision of liquidity. The alternative approach was the micro-model of the banking firm, the study found the banking firm in a static way, setting where demands and supplies of deposits and loans simultaneously clear both markets. Choi, Elyasiani and Kopecky (1992) estimated a multi-index model that considered market risk, interest sensitivity, and exchange rate risk of commercial bank stock returns. Dummy models were used to separate the period of pre- and post-October 1979 and to split the results attributable to money center banks from other banks. A significant exchange rate effect occurs for money center banks after October 1979, while interest sensitivity was stronger before October 1979. The exchange rate effect was attributing to raised hedge foreign loan exposure of money center banks. The bank profitability typically measured by the return on assets (ROA) and/or the return on equity, usually expressed as a function of internal and external determinants. Internal determinant factors that were mainly influenced by a banks management decisions and policy objectives. Such profitability determinants are the level of liquidity, provisioning policy, capital adequacy, expenses management, and bank size. On the other hand, the external determinants, both industry and macroeconomic related, also known variables that reflect the economic and legal environments where the financial institution operates. By Bourke (1989) determined; Liquidity risk, arising from the possible inability of a bank to accommodate. Decreased in liabilities or to fund increases on the assets side of the balance sheet, considered an important determinant of bank profitability. The loans market, especially credit to households and firms, risky and has a greater expected return than other bank assets, such as government securities. That expected a positive relationship between liquidity and profitability. Duca and McLaughlin (1990) studied that variations in bank profitability were largely attributable to variations in credit risk, since increased exposure to credit risk normally associated with decreased firm profitability. Miller and Noulas (1997) suggested that the more financial institutions are exposed to high risk loans, the higher the accumulation of unpaid loans and the lower the profitability. Even though leverage (capitalization) has been demonstrated to be important in explaining the performance of financial institutions, its impact on bank profitability was ambiguous. As lower capital ratios suggest a relatively risky position, one might expect a negative coefficient on this variable. Molyneux and Thornton (1992) observed a positive relationship, suggesting that high profits earned by firms be appropriated in the form of higher payroll expenditures paid to more productive human capital. It should be appealing to identify the dominant effect, in a developing banking environment like Malaysia. Authors used Bank size to capture potential economies or diseconomies of scale in the banking sector. The variable controls for cost differences and product and risk diversification according to the size of the financial institution. The first factor could lead to a positive relationship between size and bank profitability were significant economies of scale, while the second factor negative one was increased diversification leads to lower credit risk and lower returns. Berger, Hanweck, Humphery (1987) discussed that marginal cost savings can be achieved by increasing the size of the banking firm, especially as markets develop. Eichengreen and Gibson (2001) suggested that the effect of a growing banks size on profitability may be positive up to a certain limit. Beyond the point, the effect of size was negative due to bureaucratic and other reasons. Bank profitability be sensitive to macroeconomic conditions despite the trend in the industry towards greater geographic diversification and larger use of financial engineering techniques to manage risk associated with business cycle forecasting. Generally, higher economic growth encourages bank to lend more and permits them to charge higher margins, as well as improving the quality of their assets. 2.1 The Determinants of Bank Performance: Studies on the determinants of banks interest margin and profitability have focused on single country sides and a panel of countries. 2.1a Single country studies As most of the studies on bank performance are conducted in the US and emerging markets. Neeley and Wheelock (1997) explored the profitability of a sample of insured commercial banks in the US for the 1980-1995 periods. Authors found that bank performance positively related to the annual percentage changes in the states per capita income. The main Studies on the determinants of banks performance in emerging countries were carried out in Colombia Barajas et al. (1999) document significant effects of financial liberalization on banks interest margins for the Colombian case. Although the overall spread has not declined after financial reform, the relevance of the different factors behind the bank spreads were affected by such measures. Another change linked with the liberalization process was the increase of the coefficient of loan quality after the liberalization. Afanasieff, Lhacer and Nakane (2002) make used of panel data techniques to uncover the main determinants of the bank interest spreads in Brazil. Ben Naceur and Goaied (2001) investigated the determinants of the Tunisian banks performances during the period 1980-1995. The research indicated that the best performing banks were those who had struggled to improve labor and capital productivity, maintained a high level of deposit accounts relative to their assets and had been able to reinforce their equity. Guru, Staunton and Balashanmugam (2002) attempted to identify the determinants of successful deposit banks in order to provide practical guide for improved profitability performance of these institutions. The study was based on a sample of 17 Malaysian commercial banks over the 1986-1995. The profitability determinants were divided in two main categories, internal determinants (liquidity, capital adequacy and expenses management) and the external determinants (ownership, firm size and external economic conditions). The finding of that study revealed that efficient expenses management was one of the most significant in explaining high bank profitability. Among the macro indicators, high interest ratio was associated with low bank profitability and inflation was found to have a positive effect on bank performance. 2.1b Panel country studies The panel country studies were focused on European companies and developed and developing countries. Molyneux and Thornton (1992) were the first to explore thoroughly the determinants of bank profitability on a set of countries. Authors used sample of 18 European countries during the 1986-1989. The finding represented a significant positive association between the return on equity and the level of interest rates in each country, bank concentration, and government ownership. Abreu and Mendes (2002) investigated the determinants of banks interest margins and profitability for some European countries in the last decade. The authors reported that well capitalized banks face lower expected bankruptcy costs and advantages translate into better profitability. Although with a negative sign in all regressions, the unemployment rate was relevant in explaining bank profitability. Bashir (2000) examined the determinants of Islamic banks performance across eight Middle Eastern countries for 1993-1998. A number of internal and external factors were used to predict profitability and efficiencies. Controlling for macroeconomic environment, financial market situation and taxation, the results showed that higher leverage and large loans to asset ratios, lead to higher profitability. The author reported in his study that foreign-owned banks are more profitable that the domestic. The result also found the evidence that taxation impacts negatively bank profitability. Final result of study was that macroeconomic setting and stock market development have a positive impact on profitability. DemerguÃÆ' §-Kunt and Huizingha (1999) examined the determinants of bank interest margins and profitability using a bank level data for 80 countries in the 1988- 1995 period. The set of variables included several factors accounting for bank characteristics, macroeconomic conditions, taxation, regulations, financial structure, and legal indicators. The study reported that a larger ratio of bank assets to GDP and a lower market concentration ratio lead to lower margins and profits. Foreign banks have higher margins and profits than domestic banks on developing countries, while the opposite prevail in developed countries. DemerguÃÆ' §-Kunt and Huizingha (2001) presented evidence on the impact of financial development and structure on bank profitability using bank level data for a large number of developed and developing countries over the 1990-1997 period. The study found that financial development has a very important impact on bank performance. It reported that higher bank development was related to lower bank performance. Stock market development on the other hand, leads to increased profits and margins for banks especially at lower levels of financial development, indicating complementarities between bank and stock market. CHAPTER 3 THEORETICAL FRAMEWORK AND HYPOTHESIS The interest rate assummed to be one of the most important factors that affect commercial banks profitability. The issue which deals in the study was the affect of market interest rate fluactuation has adversly related to commercial bank profitability. This thesis study bring opportunity to established a relationship between fluctuations in interest rates and the performance of commercial banks in Pakistan during the period of 2004- 2008. The main purpose of this study was to determine the implication of fluctuations in market interest rates on the profitability of commercial banks in Pakistan. This study provide Major causes of interest rate fluctuations The extent to which commercial banks are set to manage interest rate related risks. Major causes of Interest Rate Fluctuation were unstable government Policies, Unstable Economic Environment, unavailability of long-term funds, Inflation. The factors that affect the commercial bank profitability were significant mismatch in the maturity profiles of Assets and Liabilities, Frequent Interest Rate Fluctuations, under capitalization of banks, Poor Collateral of credits. Pakistans financial sector included nationalized, foreign, and private banks; and Non-banking Financial Institutions (NBFIs) which include Development Finance Institutions (DFIs), Investment Banks, leasing companies, modarabas, and housing finance companies. Scheduled Banks know as also commercial bank regulated by the State Bank of Pakistan regulated through different wings, and subject to different SBP regulatory requirements such as capital and liquidity reserve requirements. Factors that affect the profitability of Commercial Banks are both Endogenous and Exogenous. Endogenous factors are within the Control of Management such as quality of man