International Finance Essay Example | Topics and Well Written Essays - 1500 words - 7

International Finance - Essay Example There are various assumptions that are held regarding this model. The first one is that all prices, wages included are flexible both increasing and decreasing to restore the equilibrium after the observed shocks. The other assumption is that economical agents are rational and that exchange rate is regarded as an asset price, which is seen as a means of holding the wealth (Ghatak & SaÃŒ nchez-Fung 2007). There is also an assumption that there is a perfect sustainability of foreign and domestic goods, PPP holds continuously, capital is perfectly mobile and that money supply is exogenous with an instant clearing. The assumption that PPP holds continuously can be represented as follows: St=Pt-PtFor UIP, given the sustainability of the bonds and the mobility of capital: ∆Set+1=it-it. For the domestic residents wealth constraint: Wt=Mt+ Bt+Bt .Here Wt is nominal wealth, Mt= holding of domestic money, while Bt=holding of the domestic bond. This allows the IUP to hold. Attention is often focused on the money market where bonds have no independent role in the determination of the exchange rate (Evans 2011). This could be indicated by considering the domestic and foreign money demand: Thus, if the national income goes up, there is more demand for an individual to hold money in ones hands as one wants to spend. Moreover, if interests go up there is more incentive to save rather than hold the money (Parvin 2009). This leads into a less to hold making an individual to hold less in the long run. If the prices go up, it costs more to purchase given goods and services making an individual more content in holding money more. This makes an individual to hold more of this money (increase in pt while the mtt also increase). Considering that money supply is in this extent exogenous with instant clearing where money market is always equilibrated: then, mtD =mts≠¡mt, and mtD =Mts≠¡mt..From the equations, mt is the

Dell, Inc Research Paper Example | Topics and Well Written Essays - 2000 words

Dell, Inc - Research Paper Example The company has gained significant recognition in the world and is currently the number three supplier of computers in the world. This paper is going to highlight the business cycle of Dell, including risks the company faces, and the reason for their success. Dell computers face challenges in its demand. The company offers its computers at low cost. The low price makes customers buy the computers. Lower prices and high quality made dell computers become so popular all over the world. An increase in demand required an increase in supply. Dell expanded its company size and was able to manufacture many computers, making it the number one shipper of computers as by 2012. Consumer’s income always affects the supply of demand of a product(Hawken, 1988). It also depends on the commodity. A customer will not spend more than what he earns. Dell established itself in the high life areas of Texas. These are places where people are high-class earners. The demand for dell was on the rise here, and more people came to know about dell. It was the baseline for the success of Dell as more and more people came to know about it. After reaching the big markets, Dell reduced its prices to favor the low class earners. Prices of goods that relate to each other are forces that affect supply and demand. HP and Lenovo are the main competitors of Dell. Each company has different prices on their computers. HP computers are cheaper than Dell computers. This has made HP have higher demand in their products compared to Dell. If goods are of same characteristics, but from different companies, people will favor the cheap one. HP is the number one PC vendor in the world because of this. Dell is trying to improve its demand by reducing the prices of their goods. Computer companies always face competition in the markets based on the level of production. The systems in the computers are very

Economic factors affecting food choice Essay Example for Free

Economic factors affecting food choice Essay The aim of this research is to find the economic factors that affect a person’s food choice for example the amount of disposable income, family size and spending patterns. This then helps us to decide a suitable dish for our chosen practical. This research helps understand the relationship between quality of diet and disposable income and how are eating patterns have changed from the past. Disposable income The amount of money left after tax and other deductions have been made is called the disposable income. The amount of money spent on food cooked at home has declined even though the disposable income has risen since the 1980s. Disposable income affects the food you eat because you tend to eat out more frequently, spend more money on premium ranges of ready prepared foods and shop at more expensive supermarkets and specialist shops if you have more disposable income. However families with less disposable income tend to spend more on convenience foods and snack foods. It takes careful budgeting and shopping around for cheaper prices to provide healthy meals for low income families. Family size and spending patterns Family size also affects how much you spend on food because declining family size and an increase in single person household has led to a change in patterns of spending on food as couples and single adult households spend more per person on food. Whereas due to larger families having young children with smaller appetites less is spent per person on food, also because less food is wasted in larger families. Larger families may also buy in bulk or shop around for cheaper prices or offers such as three for the price of two and buy one get one free. There is an increase in single person households because of an ageing population where there are more elderly people than young people in a population and due to more young, single people living alone.

Definition of fixed cost and variable cost

Definition of fixed cost and variable cost Fixed cost (FC): is a cost that remains constant, in total, regardless of changes in the level of activity. Fixed costs are not affected by changes in activity. Consequently, as the activity level rises and falls, total fixed costs remain constant unless influenced by some outside force. But fixed cost per unit decreases as the activity level rises and increases as the activity level falls. (Garrison etal., 2006, P49). Fixed costs include salaries of executives, interest expense, rent, depreciation, and insurance expenses. . Variable cost (VC): is a cost that varies, in total, in direct proportion o changes in the level activity. The activity can be expressed in many ways, such as units produced, units sold, miles driven, beds occupied, lines of print, hours worked and so forth. But variable cost per unit remains constant. ((Garrison etal., 2006, P48). Direct cost, indirect cost and overhead costs Direct costs: is a cost that can be easily and conveniently traced to the particular cost object under consideration. The concept of direct cost extends beyond just direct materials and direct labor. (Garrison etal., 2006, P50). Example: the salary of supervisor in marketing department is the direct cost for marketing department. The salary is likely the same each month not depend on the quantity of sales product. Indirect costs: is a cost that cannot be easily and conveniently traced to the particular cost object under consideration. (Garrison etal., 2006, P50).   Each business has its own method of allocating indirect costs to different products, sources of sales revenue and  business units.  Business managers and accounts should always keep an eye on the allocation methods used for indirect costs. Example: Depreciation on the production machine is also an indirect product cost, it stays the same each year not depend on the volume produced on the machine. Costs can be direct and indirect depending on the cost object: product, department,  and others such as division, customer, or geographic market. The total amount of the  cost remain the same as volume changes, it is fixed cost. It is a variable cost if the total cost change in proportion to the change in the activity or volume. Overhead costs: the indirect recurring costs of running a business that are not linked directly to the goods or service produced and sold. Overhead costs can include payments for the rent of premises, utility bills, and employees salaries. Controllable costs and uncontrollable costs Controllable cost: are those costs which can be regulated or controlled by specified member of an undertaking. Most of the variable costs are controllable costs. For example, direct material, direct labor and direct expenses à ¢Ã¢â€š ¬Ã‚ ¦are controlled by the lower level of management. Uncontrollable cost: can not be controlled by the specified member of the undertaking. Most of the fixed costs are uncontrollable cost. For example, factory rental expense, supervisors salary, depreciation. Evaluate the statement I have trouble with the terminology-direct costs, also called variable costs, are the ones that are controllable. Whereas indirect costs or overheads, also called fixed costs, are uncontrollable. Based on the definitions above, I strongly disagree with the statement because the delegate assumed wrongly about the cost. There are many ways to classified cost depending on the purpose of management. According to association with products, costs are divided into product costs and period costs. According to identifiably, costs are divided into direct cost and indirect cost. According to behavior, costs are divided into fixed cost, variable cost and semi- variable cost. According to controllability, costs are divided into controllable costs and uncontrollable costs. Direct cost can be fixed cost and variable cost depending on situations For example: the salary of supervisor in manufacture department is the direct cost for manufacture department. The salary is likely the same each month not depend on the quantity of product. It is a fixed cost of manufacture department. Raw material supply for manufacture department is a direct cost for department but it is a variable cost, total amount of supplies use in the department increases if the volume in the department increases. Indirect costs can be fixed costs and variable cost also: In opposition to direct cost, most of indirect cost is fixed cost. For example rental cost is indirect cost for part production, it is a fixed cost of manufacture department stay the same each month, its not depend on the number of product. But indirect cost can be variable cost also. The cost of electricity for administration of manufacture department is variable cost monthly depending on the number of electricity use more or less. Controllable cost and uncontrollable cost Most of variable costs are controllable. To illustrate: low level manager in manufacture product is the direct monitoring and control of production process. They can be managing the raw material use to create product and direct labors that mean control the number of employees needed to complete product. Management can organize the use of resources effectively in the short term. On the other hand, many of fixed costs are uncontrollable. They are imposed in terms of management such as business can not decide the rental fees of factory, the rent for his unit negotiated by higher management, or the rates dictated by the local authority. Question 2 1. Participative budgeting Budget preparation is the process by which organizational goals are translated into a plan that specifies the allocated resources, the selected processes, and the desired schedule for achieving these goals. There are two main types of budgeting: bottom-up budgeting and top-down budgeting. Participative budgeting is a method of preparing budgets in which managers prepare their own budgets. These budgets are then reviewed by the managers supervisor, and any issues are resolved by mutual agreement. Manager Marketing Manager Sales Vice President Sales Vice President Finance President and CEO Vice President Production Cashier Controller Manager Manufacturing Manager Distribution All level of an organization should work together to create the budget. Each level in organization should contribute in the way that it best can in a cooperative effort to develop budget. Lower level management is responsible for setting the estimate of budget data in a participative system and submits them to the next higher level of management. Before the budget is accepted, they must be reviewed and evaluated by middle management before they are transferred to the organization. Advantage of participative budgeting Participative budgeting is relevant to all member of particular project, it helps to encourage all participants contribute idea to built a project effectively. Budget information is given clearly and fairly accurate because it use of the data available at the project management level Working motivation is higher when an individual directly involved in setting goals rather than goals imposed from above. Self-imposed budget made commitments to implement the goals. If the budget has been setting from top management, managers can say that budget is unreasonable or impractical to start, could not be performed. With participative budget, it does not happen when the managers set a budget for themselves. Disadvantage of participative budget Time consuming and costly because too many participants involved in setting budget project. The influence of top manager is limited over the budget process. However, when the lower-level managers plan the short budgets and mid-range budgets, outlining organizational policies and goals, they can influence the outcome by issuing a statement. Individual tend to overstate the real resource needs because they think that all budget will be cut in certain proportion by top manager and set a goal lower than actual for easy to achieve the goal. 2. Budget variance a. Definition of budget variance: Total budget variance is simply the difference between the actual cost of the input and its planned cost. Total variance = Price variance + Usage variance In standard costing systems, the total variance is broken down into price and usage variance. Price variance is the difference between the actual and standard unit price of an input multiplied by the number of unit used. Usage variance is the difference between the actual and standard quantity of inputs multiplied by the standard unit price of the input. Total variance = (AP x AQ) (SP x SQ) ACTUAL COST (AQ x AP) STANDARD COST (SQ x SP) STANDARD COST (SQ x SP) ACTUAL COST (AQ x AP) > FAVORABLE VARIANCE (ACTUAL UNFAVORABLE VARIANCE (ACTUAL > STANDARD) AQ means the actual quantity of input used to produce the output AP means the actual price of the input used to produce the output SQ means the standard quantity SP means the standard price Favorable variance and unfavorable variance are not equivalent to good and bad variance. The terms indicate the relationship of the actual price or quantities to the standards prices and quantities. b. Budget variance investigation Managers responsibility is carefully calculated the variance because that is a part of effective control of organization. In general, it is difficult to manage external sources of budget variance (government policy, stock market, fluctuation of exchange rateà ¢Ã¢â€š ¬Ã‚ ¦) rather than internal sources (raw material, cost per hour on direct labor). Management should know about the acceptable range of performance. If the budget has a favorable balance that means it has brought the profit to the company. Conducting an investigation to find out the reason why the variance of budget was favorable and it could be made more than in the future. If the variance is small, it should not be too worried. In fact, a little variance between actual budget and the projected figures is always happens. With the very small difference, the manager can ignore them, no need to adopt strong action because it does not bring terrible consequences for the business. So, with little difference, the best way to solve is simply putting it into stride. If the budget has unfavorable variance, head of department need to conduct an investigation to find out the main causes by external influence or internal influence. For example the increase of raw material usage per unit more than allowed standard because it was poor condition of machine or poor manufacturing. Find the cause and how to fix the problem; it is a good measure to prevent a similar situation may occur in the future. After having adverse variance the budget needs to rewrite or the budget needs to verify by internal audit. Question 3 Explain the term used in the statement 1. Committed fixed costs Committed fixed costs relate to the investment in facilities, equipment, and basic organizational structure. The two characteristics of committed fixed costs are that they are long term in natural, and they cannot be significantly reduced event for short periods of time without seriously impairing the profitably or long- run goals of the organization. Even if operations are interrupted or cut back, the committed fixed cost will still continue largely unchanged (Garrison etal., 2006, P190). For example: Vietnam airlines has total 80 aircraft, the company must pay money for depreciation, maintenance and insurance expense. The expense is not depend on the number of times the plane fly or the number of passenger in plane. It is a committed fixed cost. Decisions to acquire major equipment or to take on other committed fixed costs involve a long planning horizon. Management should make such commitments only after carefully analysis of the available alternatives. Once a decision is made to acquire committed resources, the company may be locked in to the decision for many years to come (Garrison etal., 2006, P191). For example the total committed fixed cost of renting the building for the hotel is very high and the company must commit to pay for it at least 5 years in Vietnam. Uneven revenue flows It is showed that the difference of demand (low or high) for product or service in different periods. At times the company is very busy and at others it suffers from very slack periods. The hospitality industry is often divided into two distinct seasons: high season and low season. The period time between two seasons can move and change each year. In high season, the hotel does not have enough room for customer and the room rate is very high that bring large of profit for the hotel. In contrast, in low season the hotel must reduce the price and apply promotion to attract tourist. It is a common situation of hotel and resort. The implication of the above situation for the company Many of our cost are committed fixed cost. Our revenue flows occur very unevenly. To be profitable we have to take a flexible approach to pricing The company in hospitality industry has large proportion of fixed cost for the initial investment so the break even point is also very high. Company will operate with high level of capacity before earning a profit. But when passed break even point the profit will increase rapidly. Committed fixed cost has a little effect to the level of costs in the short term. Revenue is the money the company receives for selling their product or service. It is calculated by taking the selling price and multiplying it by the number of units sold. Profit is the amount of money left over after costs have been covered. It is calculated by: total revenue minus total costs. Therefore, profits will not be improved by a greater emphasis on cost management of costs. The company will get profit if the revenue is maintained consistently above break even level. Due to the nature of leisure industry, the product is not in storage so the focus on revenue during the period low level of demand is the necessary task of this company. By adopting a flexible approach the company is adapting the price of the product or service to suit the situation of the company and the amount of money customers are willing to pay. But the given price must be greater than variable cost and above break event point. This pricing strategy is designed to attract as much business as possible when the company has spare capacity. The price will be increased for busy periods when the company can expect to operate near to full capacity. For example: In Vietnam, Da Nang has a long beautiful coastline. Seaside hotels have a high level of demand in the summer (from May to August), this time mainly to serve domestic tourist. The room rates are usually higher two times as much as normal. The hotels have maximum revenue in this period. In the low season from October to February next year, the hotel has launched promotions to attract tourist such as discount 30% room rate at Furama Resort or stay 2 night get 1 night free at Golden Sand Resort. In this case, at times of low volume an inflexible, cost orientated approach to pricing.

moralant Moral Law vs. Civil Law in in Sophocles Antigone :: Antigone essays

Moral Law vs. Civil Law in Antigone In the case of Antigone versus the state, she chose to follow moral law, or God's law if you will. Ultimately she felt that His law was right, and the civil government had no right to say who does and who does not have the right to a proper burial. People make decisions everyday in accordance with God's laws or the governments laws. They make a choice between the two, and they go with it. It's decided upon according to what they believe is right. Antigone based her decisions solely on her beliefs that she felt within her heart. She followed through with her actions, prepared to face the consequences, knowing what they would be. This shows that Antigone is courageous and passionate in her beliefs. She felt that the law of the land was unjust and she couldn't let the soul of her brother suffer because of injustice. Many citizens backer her up on her decision. Creon's son, Haemon, even told his father what they thought. He said, "The people feel sorry for Antigone. They say it isn't equitable that she must die." God spoke to her and she acted upon the support of a loved one. She did what she did knowing would smile upon her and the dead would welcome her. Creon is what the civil law is. Polynices, the unburied, brother of Antigone, fought against Thebes, making him undeserving of a grave according to Creon. All that Polynices was doing was following his own morals. He believed in the other side, whatever that may have been, and he gave his life for it. Creon, being closed minded, lashed out before taking the time to weight the circumstances, and being so hasty in his decision suffered an even greater consequence than that of Antigone, in the end. He refused to listen even after Teiresias warned him by saying, "The sun won't run its course for many days before you have to repay a corpse of your own..." Antigone performed God's will, and Creon tried to stand in the way, thinking of himself as more powerful. In the end though, it showed that morality would prevail over all else, proving that's what in your heart is what matters the most. What ever punishment Creon received, he deserved. Teiresias told him that what he was doing was wrong, "One body you have locked in a tomb. Another that rightly should be in the underworld you have forcibly retained here on earth. Because of this, the Furies have been waiting to pay you back in your own coin.

Discontinuity in Self-Reliance and When I Consider How My Light Is Spen

Discontinuity in Self-Reliance and When I Consider How My Light Is Spent  Ã‚        Ã‚   Ralph Waldo Emerson emphatically proclaims in "Self-Reliance" that "the highest merit we ascribe to Moses, Plato, and Milton is that they set naught at traditions but spoke†¦what they thought" (515). Emerson declares that Milton’s greatness is attributed not to conformity but rather to originality. Milton’s break with consistent expectations is epitomized in his use of a Petrarchan sonnet in the poem "When I Consider How My Light Is Spent." Nonconformity and discontinuity in a man’s approach to life are the doctrines espoused by Emerson in his work "Self-Reliance," and Milton embodies an Emersonian outlook while inwardly searching for personal truth in his sonnet. The lack of formal structure in the works of the two authors enhances rather than inhibits the reader’s grasp of the literature. Although both Emerson and Milton employ a discontinuous literary style in their respective works, Emerson revels in his lack of continuity to further prom ulgate his ideology of nonconformity and inconsistency while Milton’s use of discontinuity is procured in an attempt to understand his place before God. The foundation for comparing the two works will be based on the following definition of discontinuity: any literary approach that deviates from standard structural form. The absence of formal structure in Emerson’s "Self-Reliance" has been derided by some critics as an "insuperable handicap" to an appropriate understanding of the work (Warren 200). A thorough examination of the work, however, evokes two fundamental claims: Emerson provides a basis for some semblance of structure, and complete continuity is antithetical to the fundamentals of Emerson’s "Se... ..." The American Tradition in Literature. Eighth Edition. Ed. George Perkins. New York. McGraw-Hill, Inc., 1994. Milton, John. "When I Consider How My Light Is Spent." The Norton Anthology of English Literature. Sixth Edition. M.H.Abrams et al. New York: W.W. Norton and Company, 1996. Nicolson, Marjorie Hope. John Milton: A Reader’s Guide to His Poetry. New York: Octagon Books, 1983. Packer, B.L. "Emerson’s Fall: A New Interpretation of the Major Essays." 19th Century Literary Criticism 38 (1993): 200-208. Robinson, David M. "Grace and Work: Emerson’s Essays in Theological Perspective." 19th Century Literary Criticism 38 (1993): 223-230. Warren, Joyce W. "Transcendentalism and the Self: Ralph Waldo Emerson." 19th CenturyLiterary Criticism 38 (1993): 208-213. Wilson, A.N. The Life of John Milton. Oxford: Oxford University Press, 1983.      

School is bad for children

Seventeen years of reading, cramming, listening and studying. One for kindergarten, six for middle school and another six for high school, plus the dreaded four years in college, all these seventeen years to get a degree and work for a living. Going to school to attend classes, submit homework and projects, and to take examinations have become a part of our culture and tradition. It is deeply embedded in our laws and in our minds. We all have come to believe that without school, we are nothing. We are nothing especially when compared to those who have dedicated 17 years of their lives, money, time and effort in schooling. However, it is not what it seems to be anymore. A place for learning and for growing is being questioned. There have been studies that resulted in concepts that have not been considered when the idea of a school for everybody and everyone was put up. The implications of these have resulted in the skepticism of the current education system, whether or not it caters to everybody or if it still upholds the quality of education that they promised to give. In the essays by John Holt, David Miller Sadker and Myra Pollack Sadker, and Ji-Yeon Mary Yuhfill, several key points were noted that direct to the same issue, schooling has to be changed. These authors were able to identify various reasons that could be grounds for changing the current educational system. As of the moment, all children are required by law to go to school, at least up until high school. College, on the other, is an option that only people who can afford to pay for the tuition fee take. For the rest, high school suffices enough to get them jobs to earn money for providing themselves with the basic necessities. However, John Holt believes that going to school is actually a hindrance for a growing child to become the person that he is supposed to be, David Miller Sadker and Myra Pollack Sadker thinks that the current way of evaluating one’s intelligence is not accurate because of the identified multiple intelligences, and Ji-Yeon Mary Yuhfill found out that what is being taught in the four walls of the classroom is not true to the factual occurrences in history. These three authors are not exactly talking about one thing but they are all on the same page. John Holt’s essay entitled, â€Å"School is bad for children,† talks about learning outside school and compares it to learning inside it. he describes how a child, before entering the school premises, was an explorer and a creative individual who is not scared of trying different things. The independence of learning all by one’s self has become the tool in the growth and development of a child from birth to just before entering school. He asserted that the infant did not really need a teacher in learning something that he thinks is inexistent, language. He was able to manipulate this language, learn it and use it, without the aid of a classroom. He had in him characteristics such as perseverance, patience and determination that he developed by trying out new things, when he explores his environment. None of these he can do inside a school. Holt reasons out that in school, students are taught to be submissive and to be controlled by an environment that is not conducive to learning. Hence, all of the characteristics that he once possessed were kept inside him and he was not allowed to use it when needed. For example, in the real world, the child can make mistakes. He can run very fast and he could stumble and have his skin scraped. Nevertheless, he will stand up and learn the lesson that he should not do that again when the ground is not leveled enough because he is going to have bruises, which is very unpleasant. However, when in school, he is not allowed to run fast. Holt translates this analogy into believing that a child should be allowed to make mistakes and learn the right answers on their own. Then again, in school, one is not allowed to make mistakes, teachers only ask for the right answers, so do examinations. Human interaction is also made insignificant in school. However, this is a very important lifelong ability that we should not dare pass up to learn. Holt emphasizes how the school disallows talking to classmates and playing with them while inside the school premises. This poses a very big problem to learning and developing socializing skills. In David Miller Sadker and Myra Pollack Sadker’s essay, they discuss the importance of the multiple intelligences and the emotional intelligence factor. Eight intelligences have been identified, which are the logical-mathematical intelligence, the linguistic intelligence, the bodily-kinesthetic intelligence, the musical, spatial, interpersonal, intrapersonal, and naturalistic intelligence. Each of these intelligences represent an ability or a set of abilities that manifests as skills and interests that an individual posses and it does not really have to be in the academic field. For example, dancing, painting, singing, and even interacting with other people are considered to be a form of intelligence. However, in schools and in the existing educational curriculum, only the IQ or the intelligence quotient is what seems to be of utmost importance. A student’s ability is rated through the grades and examination performance. The other intelligences do not even make it to the report card; they are only electives in some schools, while in others they are just clubs. The multiple intelligences also tell us that every person is unique and it will stand out in their areas of specialty or their forte. One should not be forced to do something that they have almost no affinity to because they excel in the opposite of that task. Another important discovery made is the emotional intelligence factor and how its determination at an early age was a predictor of the child’s success in the later years of life. Basically, the argument that they presented in the essay is that there is no one test to measure the range of abilities and skills that a student possesses. This is a problem because the current system utilized in schools may become a hindrance for developing the other aspects of intelligence of the students. The essay by Ji-Yeon Mary Yuhfill talked about how she felt cheated because of the historical inaccuracies that she learned in school and how knowing the truth could change one’s life forever. She stated that what she learned in school is that the United States of America was all about how the white skinned people were able to conquer and start a nation so great on their own. However, she learned in her own research later on that this was not the case. She learned that so many other cultures existed during the coming of America as one nation, and that these other people of different ethnicity were of help that time and without them, America will never be the same. These three essays focused on different issues and concepts, but they all arrived on the same conclusion, change is needed in the educational system. Holt presents five solutions that he believes can help our students in becoming more like the person that they should have become right from the start. He suggests that the compulsory school attendance should be banned or there should be a higher number of absences to be allowed. It has become so hard to keep children in school in the first place, and it costs the government more money now keeping kids in school because they do not want to be there. He also mentioned that out of classroom learning should be implemented. This is because much of the real learning for the real world happens outside of school. He also wants that children learn from other children, and that children judge their own work. This is very much needed especially when interacting with others and in trying to create standards for one’s self. In doing so, children are able to share ideas, learn from the other child’s perspective, and learn from their own mistakes. Lastly, he proposes to eradicate the fixed and required curriculum. This proposal may coincide to David Miller Sadker and Myra Pollack Sadker’s case in point, the multiple intelligences. Holt says that there is no point in making children study what they are not interested in or what they do not excel in. each person has their own type of intelligence, and so this is why a standardized measurement of intelligence will not suffice. Albeit indirectly implied, there has to be a new system wherein the personal intelligences of each student can be quantified. David Miller Sadker and Myra Pollack Sadker mentioned the portfolio approach. It is described as a more comprehensive assessment that includes student artifacts such as papers, projects, videotapes, and exhibits, which offer tangible examples of student learning. It does not have to be just a report card anymore. Moreover, learning does not have to be all about the good stuff. It was suggested in Ji-Yeon Mary Yuhfill’s essay that both the good and the bad aspects of history should be taught in school and let the children decide. A multicultural curriculum will not only make the children develop critical thinking, it will also help them develop the skills that can assist in the improvement of their country. I personally believe in change. It is inevitable and it is the only constant thing in the world. If we want to improve things and learn from mistakes, we should start it with the children. Not only because they are the future leaders of our country, but because we want them to become the best person that they could possibly be, the best pianist, the best mathematician, the best doctor, the best chef. We have to let them fall down and make mistakes, because this is the only way they could learn. We have to allow them to flourish in the things that they are passionate about, because it is the only way that they can develop their talents and skills. We have to believe in them, whether or not they believe in themselves, because they would need all our love and support as they struggle to find their true identities. It is not a question of whether or not school is the best for children; it is whether or not we can accept the changes that should be implemented in these institutions. And if we want a better future for everyone, we should.