Main article: Monetary policy
Monetary policy is the process by which a government, central bank, or monetary authority manages the money supply to achieve specific goals. Usually the goal of monetary policy is to accommodate economic growth in an environment of stable prices. For example, it is clearly stated in the Federal Reserve Act that the Board of Governors and the Federal Open Market Committee should seek “to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates.”[11]
A failed monetary policy can have significant detrimental effects on an economy and the society that depends on it. These include hyperinflation, stagflation, recession, high unemployment, shortages of imported goods, inability to export goods, and even total monetary collapse and the adoption of a much less efficient barter economy. This happened in Russia, for instance, after the fall of the Soviet Union.
Governments and central banks have taken both regulatory and free market approaches to monetary policy. Some of the tools used to control the money supply include:
currency purchases or sales
increasing or lowering government spending
increasing or lowering government borrowing
changing the rate at which the government loans or borrows money
manipulation of exchange rates
taxation or tax breaks on imports or exports of capital into a country
raising or lowering bank reserve requirements
regulation or prohibition of private currencies
For many years much of monetary policy was influenced by an economic theory known as monetarism. Monetarism is an economic theory which argues that management of the money supply should be the primary means of regulating economic activity. The stability of the demand for money prior to the 1980s was a key finding of Milton Friedman and Anna Schwartz[12] supported by the work of David Laidler[13], and many others.
The nature of the demand for money changed during the 1980s owing to technical, institutional, and legal factors and the influence of monetarism has since decreased.
History of money
Main article: History of money
The first golden coins in history were coined by Lydian king Croesus, around 560 BC. The first Greek coins were made initially of copper, then of iron because copper and iron were powerful materials used to make weapons. Pheidon king of Argos, around 700 BC, changed the coins from iron to a rather useless and ornamental metal, silver, and, according to Aristotle, dedicated some of the remaining iron coins (which were actually iron sticks) to the temple of Hera[1]. King Pheidon coined the silver coins at Aegina, at the temple of the goddess of wisdom and war Athena the Aphaia (the vanisher), and engraved the coins with a Chelone, which is to this day as a symbol of capitalism. Chelone coins[2] were the first medium of exchange that was not backed by a real value good. They were widely accepted and used as the international medium of exchange until the days of Peloponnesian War, when the Athenian Drachma replace them. According other fables, inventors of money were Demodike (or Hermodike) of Kymi (the wife of Midas), Lykos (son of Pandion II and ancestor of the Lycians) and Erichthonius, the Lydians or the Naxians.
See also
Numismatics Portal
Wikiquote has a collection of quotations related to:
Money
Look up Money inWiktionary, the free dictionary.
Wikimedia Commons has media related to:
Money
Category:Money
Economics
Coin of account
Counterfeit, for Counterfeiting of Money
Credit money
Currency market
Electronic money
World currency
Federal Reserve
Fractional reserve banking
Full reserve banking
Labor-time voucher
Local Exchange Trading Systems
Numismatics — Collection and study of money
Seignorage
Standard of deferred payment
Sunday 24 February 2008
Money supply
Main article: Money supply
The money supply is the amount of money within a specific economy available for purchasing goods or services. The supply in the US is usually considered as four escalating categories M0, M1, M2 and M3. The categories grow in size with M3 representing all forms of money (including credit) and M0 being just base money (coins, bills, and central bank deposits). M0 is also money that can satisfy private banks' reserve requirements. In the US, the Federal Reserve is responsible for controlling the money supply, while in the Euro area the respective institution is the European Central Bank. Other central banks with significant impact on global finances are the Bank of Japan, People's Bank of China and the Bank of England.
When gold is used as money, the money supply can grow in either of two ways. First, the money supply can increase as the amount of gold increases by new gold mining at about 2% per year, but it can also increase more during periods of gold rushes and discoveries, such as when Columbus discovered the new world and brought gold back to Spain, or when gold was discovered in California in 1848. This kind of increase helps debtors, and causes inflation, as the value of gold goes down. Second, the money supply can increase when the value of gold goes up. This kind of increase in the value of gold helps savers and creditors and is called deflation, where items for sale are less expensive in terms of gold. Deflation was the more typical situation for over a century when gold and credit money backed by gold were used as money in the US from 1792 to 1913.
The money supply is the amount of money within a specific economy available for purchasing goods or services. The supply in the US is usually considered as four escalating categories M0, M1, M2 and M3. The categories grow in size with M3 representing all forms of money (including credit) and M0 being just base money (coins, bills, and central bank deposits). M0 is also money that can satisfy private banks' reserve requirements. In the US, the Federal Reserve is responsible for controlling the money supply, while in the Euro area the respective institution is the European Central Bank. Other central banks with significant impact on global finances are the Bank of Japan, People's Bank of China and the Bank of England.
When gold is used as money, the money supply can grow in either of two ways. First, the money supply can increase as the amount of gold increases by new gold mining at about 2% per year, but it can also increase more during periods of gold rushes and discoveries, such as when Columbus discovered the new world and brought gold back to Spain, or when gold was discovered in California in 1848. This kind of increase helps debtors, and causes inflation, as the value of gold goes down. Second, the money supply can increase when the value of gold goes up. This kind of increase in the value of gold helps savers and creditors and is called deflation, where items for sale are less expensive in terms of gold. Deflation was the more typical situation for over a century when gold and credit money backed by gold were used as money in the US from 1792 to 1913.
Money
From Wikipedia, the free encyclopedia
Jump to: navigation, search
For other uses, see Money (disambiguation).
"Dinero" redirects here. For the obsolete Spanish currency, see Spanish dinero.
Various denominations of currency, one form of money.
Money is any token or other object that functions as a medium of exchange that is socially and legally accepted in payment for goods and services and in settlement of debts. Money also serves as a standard of value for measuring the relative worth of different goods and services and as a store of value. Some authors explicitly require money to be a standard of deferred payment.[1]
Money includes both currency, particularly the many circulating currencies with legal tender status, and various forms of financial deposit accounts, such as demand deposits, savings accounts, and certificates of deposit. In modern economies, currency is the smallest component of the money supply.
Money is not the same as real value, the latter being the basic element in economics. Money is central to the study of economics and forms its most cogent link to finance. The absence of money causes a market economy to be inefficient because it requires a coincidence of wants between traders, and an agreement that these needs are of equal value, before a barter exchange can occur. The use of money is thought to encourage trade and the division of labour.
Jump to: navigation, search
For other uses, see Money (disambiguation).
"Dinero" redirects here. For the obsolete Spanish currency, see Spanish dinero.
Various denominations of currency, one form of money.
Money is any token or other object that functions as a medium of exchange that is socially and legally accepted in payment for goods and services and in settlement of debts. Money also serves as a standard of value for measuring the relative worth of different goods and services and as a store of value. Some authors explicitly require money to be a standard of deferred payment.[1]
Money includes both currency, particularly the many circulating currencies with legal tender status, and various forms of financial deposit accounts, such as demand deposits, savings accounts, and certificates of deposit. In modern economies, currency is the smallest component of the money supply.
Money is not the same as real value, the latter being the basic element in economics. Money is central to the study of economics and forms its most cogent link to finance. The absence of money causes a market economy to be inefficient because it requires a coincidence of wants between traders, and an agreement that these needs are of equal value, before a barter exchange can occur. The use of money is thought to encourage trade and the division of labour.
Crude futures jump above $100 on supply worries
Crude futures closed for the first time above 100 U.S. dollars a barrel Tuesday, driven by concerns that OPEC will cut output and geopolitical tensions in Venezuela and Nigeria.
The "Inca", a ship carrying 276.000 barrels of Venezuelan crude oil is seen as it arrives at Puerto Sandino, 44 miles (70 km) west of Managua Feb. 17, 2008. (Xinhua/Reuters Photo)Light, sweet crude for March delivery rose 4.51 U.S. dollars at a record 100.01 a barrel on the New York Mercantile Exchange after earlier rising to 100.10 dollars, a new trading record. The previous high was struck on Jan. 3 as London Brent crude settled up 3.65 dollars at 98.56 dollars a barrel. An explosion Monday at a 67,000 barrel per day refinery in Texas also underpinned prices. Officials said they were expecting to partially restart the plant in about two months. Analysts said there was growing speculation that OPEC, which supplies about 40 percent of the world's oil, would cut output at its March 5 meeting in Vienna. Further price support came form a threat by a rebel group in Nigeria to escalate attacks on the nation's crude oil infrastructure. The rebels were acting in response to rumors that the government had killed a captured leader, whom authorities later said was safe and well. Militant attacks have cut about 20 percent of Nigeria's crude output in recent years. Crude prices began to rally last week when Venezuela cut exports to Exxon Mobil after the U.S. company won court rulings to freeze 12 billion dollars of OPEC nation's assets as part of an arbitration battle. Worries about the economic health of the United States and the falling dollar had caused a rush of speculative investment in oil and other commodities, which helped push up prices in the asset class. Other energy futures also jumped Tuesday. March gasoline jumped10.93 cents to settle at 2.6031 dollars a gallon, and March heating oil rose 11.45 cents to settle at 2.7614 dollars a gallon. VietNamNet/Xinhuanet
The "Inca", a ship carrying 276.000 barrels of Venezuelan crude oil is seen as it arrives at Puerto Sandino, 44 miles (70 km) west of Managua Feb. 17, 2008. (Xinhua/Reuters Photo)Light, sweet crude for March delivery rose 4.51 U.S. dollars at a record 100.01 a barrel on the New York Mercantile Exchange after earlier rising to 100.10 dollars, a new trading record. The previous high was struck on Jan. 3 as London Brent crude settled up 3.65 dollars at 98.56 dollars a barrel. An explosion Monday at a 67,000 barrel per day refinery in Texas also underpinned prices. Officials said they were expecting to partially restart the plant in about two months. Analysts said there was growing speculation that OPEC, which supplies about 40 percent of the world's oil, would cut output at its March 5 meeting in Vienna. Further price support came form a threat by a rebel group in Nigeria to escalate attacks on the nation's crude oil infrastructure. The rebels were acting in response to rumors that the government had killed a captured leader, whom authorities later said was safe and well. Militant attacks have cut about 20 percent of Nigeria's crude output in recent years. Crude prices began to rally last week when Venezuela cut exports to Exxon Mobil after the U.S. company won court rulings to freeze 12 billion dollars of OPEC nation's assets as part of an arbitration battle. Worries about the economic health of the United States and the falling dollar had caused a rush of speculative investment in oil and other commodities, which helped push up prices in the asset class. Other energy futures also jumped Tuesday. March gasoline jumped10.93 cents to settle at 2.6031 dollars a gallon, and March heating oil rose 11.45 cents to settle at 2.7614 dollars a gallon. VietNamNet/Xinhuanet
Fest offers love duets cockfighting and more
The cold couldn't keep away the thousands of tourists who arrived for the annual Lim Festival, dedicated to quan ho (love duets) folk singing, which opened yesterday morning in the northern province of Bac Ninh.
Quan ho singers are one of the highlights of the Lim festival.The one-day festival, where takes place on the 13th day of the first lunar month, was held this year on Lim Hill in Tien Du District, 30km north of Hanoi, embracing quan ho singing, processions and folk games.
However, two days before the festival had officially opened, many tourists and pilgrims had flocked to the grounds to visit and pray for a prosperous and happy new year in the local pagodas and to purchase goods at the local markets, such as folk paintings, calligraphy works, bonsai trees and more.
Like other religious festivals, the Lim Festival goes through all the ritual stages, from the procession to the worship ceremony. Tourists had the enhance to experience the sacred and colourful environment when the festival began with a procession from Noi Due Village to Lim hill, and then with worshipping ceremonies at the Hong Van imperial tomb and Hong An Pagoda on the Lim hill.
Sweet songs
The Lim Festival has always been celebrated through many traditional games, such as swinging, human chess, wrestling, cock fighting and even a rice-cooking competition. But the quan ho folk song performances remain the most striking feature of the festival.
Quan ho singers from 26 villages sang songs about love and desire while atop the hills, indoors or floating along the village waterways.
Female singers wore colourful tu than (four-lapped dresses), while the men donned traditional costumes of their own.
Originating in Bac Ninh Province around the 13th century, quan ho is an antiphonal singing tradition in which men and women take turns singing in a call and response pattern.
The quan ho style of singing is currently being reviewed by UNESCO for consideration as a Humanitarian Masterpiece of Oral and Intangible Heritage.
The duet partners meet on the open hill. Groups of friends pass each other and the boys reach out to the girls, asking them to taste their betel leaves. If the girl accepts, it means she will sing with him.
In some cases, boys carry umbrellas while girls carry large palm hats with silk bands. They are all dressed in festival costumes specific to the region.
The festival ends only when darkness has engulfed the entire hill, and ritual songs are sung to wrap up the festival. Often the closing ceremony lasts for several songs, while people slowly begin to leave, one by one.
The Lim Festival is a special cultural activity in the North celebrating a unique folk singing style which has become a part of the national culture and well-loved within the Hong (Red) River Delta.
(Source: Viet Nam News)
Quan ho singers are one of the highlights of the Lim festival.The one-day festival, where takes place on the 13th day of the first lunar month, was held this year on Lim Hill in Tien Du District, 30km north of Hanoi, embracing quan ho singing, processions and folk games.
However, two days before the festival had officially opened, many tourists and pilgrims had flocked to the grounds to visit and pray for a prosperous and happy new year in the local pagodas and to purchase goods at the local markets, such as folk paintings, calligraphy works, bonsai trees and more.
Like other religious festivals, the Lim Festival goes through all the ritual stages, from the procession to the worship ceremony. Tourists had the enhance to experience the sacred and colourful environment when the festival began with a procession from Noi Due Village to Lim hill, and then with worshipping ceremonies at the Hong Van imperial tomb and Hong An Pagoda on the Lim hill.
Sweet songs
The Lim Festival has always been celebrated through many traditional games, such as swinging, human chess, wrestling, cock fighting and even a rice-cooking competition. But the quan ho folk song performances remain the most striking feature of the festival.
Quan ho singers from 26 villages sang songs about love and desire while atop the hills, indoors or floating along the village waterways.
Female singers wore colourful tu than (four-lapped dresses), while the men donned traditional costumes of their own.
Originating in Bac Ninh Province around the 13th century, quan ho is an antiphonal singing tradition in which men and women take turns singing in a call and response pattern.
The quan ho style of singing is currently being reviewed by UNESCO for consideration as a Humanitarian Masterpiece of Oral and Intangible Heritage.
The duet partners meet on the open hill. Groups of friends pass each other and the boys reach out to the girls, asking them to taste their betel leaves. If the girl accepts, it means she will sing with him.
In some cases, boys carry umbrellas while girls carry large palm hats with silk bands. They are all dressed in festival costumes specific to the region.
The festival ends only when darkness has engulfed the entire hill, and ritual songs are sung to wrap up the festival. Often the closing ceremony lasts for several songs, while people slowly begin to leave, one by one.
The Lim Festival is a special cultural activity in the North celebrating a unique folk singing style which has become a part of the national culture and well-loved within the Hong (Red) River Delta.
(Source: Viet Nam News)
What benefits can the Internet provides?
What benefits can the Internet provides?
According to Bocij et al. (1999 in Chaffey et al. 2003), the benefits of an Internet presence can be summarized using the ‘6C’:
1. Cost reduction. Achieve through reducing the need for sales and marketing enquires to be handled by telephone operators and the reduced need for printing and distributing marketing communications material, which is instead published on the website.
2. Capability. The Internet provides new opportunities for new products and services and for exploiting new markets.
3. Competitive advantage. If a company introduces new capabilities before its competitors, then it will achieve and advantage until its competitors have the same capability.
4. Communication improvement. This include improved communications with customers, staff, suppliers, and distributors.
5. Control. The Internet and intranets may provide better marketing research through tracking of customer behaviour and the way in which staff deliver services.
6. Customer service improvement. Provided by interactive queries of databases containing, for example, stock availability or customer service question.
Internet Marketing concepts:
Many companies, when starting to use the Internet for marketing, took the approach of simply re-publishing existing marketing materials in a new form. This approach, termed ‘brochureware’ or electronick brochures, was a practical first step, but is now discredited since it fails to acknowledge the differences in this medium (Chaffey, 2003):
§ The medium itself is different in that it is digital, interactive, and a greater depth of information can be published on a web site.
§ The demographics may be different
§ The culture of purchaser may be different;
§ The market may be different.
As a digital medium the Internet is quite different from traditional mass media in a number of aspects (Chaffey, 2003):
1. It is predominately a pull medium rather than a push medium
2. It is a digital medium that enables interaction
3. It offers potential for one-to-one or many-to-many communication
4. The medium changes the nature of standard marketing communications such as advertising
5. Changes to the distribution channel and marketplace enabled by the digital medial.
There are number of ways that the Internet support marketing communications?
1. The Internet most readily lends itself to impersonal communications such as advertising, PR and sales promotions since this sort of communication can be achieved simply by publishing existing documents such as brochures.
2. The Internet is of great value in advertising, as web sites provide the opportunities to give greater information on product features and benefits than do other media such as television and newspapers.
3. The Internet also offers great scope for PR and sale promotions. The Internet has significantly change the nature of PR, since a company web site itself can act a vehicle for PR.
4. Personal communications such as sales calls from the company to the purchaser are not really facilitated by the Internet, although it may be possible in the future if video conferencing becomes a routine business activity.
5. Of all personal communication techniques, direct marketing offers the most potential for use by the Internet.
6. Internet marketing can help enhance brand activities techniques which include: sponsorship, exhibitions, customer feedback, and co-branded content.
Recommended Book
Dave Chaffey, Internet Marketing
According to Bocij et al. (1999 in Chaffey et al. 2003), the benefits of an Internet presence can be summarized using the ‘6C’:
1. Cost reduction. Achieve through reducing the need for sales and marketing enquires to be handled by telephone operators and the reduced need for printing and distributing marketing communications material, which is instead published on the website.
2. Capability. The Internet provides new opportunities for new products and services and for exploiting new markets.
3. Competitive advantage. If a company introduces new capabilities before its competitors, then it will achieve and advantage until its competitors have the same capability.
4. Communication improvement. This include improved communications with customers, staff, suppliers, and distributors.
5. Control. The Internet and intranets may provide better marketing research through tracking of customer behaviour and the way in which staff deliver services.
6. Customer service improvement. Provided by interactive queries of databases containing, for example, stock availability or customer service question.
Internet Marketing concepts:
Many companies, when starting to use the Internet for marketing, took the approach of simply re-publishing existing marketing materials in a new form. This approach, termed ‘brochureware’ or electronick brochures, was a practical first step, but is now discredited since it fails to acknowledge the differences in this medium (Chaffey, 2003):
§ The medium itself is different in that it is digital, interactive, and a greater depth of information can be published on a web site.
§ The demographics may be different
§ The culture of purchaser may be different;
§ The market may be different.
As a digital medium the Internet is quite different from traditional mass media in a number of aspects (Chaffey, 2003):
1. It is predominately a pull medium rather than a push medium
2. It is a digital medium that enables interaction
3. It offers potential for one-to-one or many-to-many communication
4. The medium changes the nature of standard marketing communications such as advertising
5. Changes to the distribution channel and marketplace enabled by the digital medial.
There are number of ways that the Internet support marketing communications?
1. The Internet most readily lends itself to impersonal communications such as advertising, PR and sales promotions since this sort of communication can be achieved simply by publishing existing documents such as brochures.
2. The Internet is of great value in advertising, as web sites provide the opportunities to give greater information on product features and benefits than do other media such as television and newspapers.
3. The Internet also offers great scope for PR and sale promotions. The Internet has significantly change the nature of PR, since a company web site itself can act a vehicle for PR.
4. Personal communications such as sales calls from the company to the purchaser are not really facilitated by the Internet, although it may be possible in the future if video conferencing becomes a routine business activity.
5. Of all personal communication techniques, direct marketing offers the most potential for use by the Internet.
6. Internet marketing can help enhance brand activities techniques which include: sponsorship, exhibitions, customer feedback, and co-branded content.
Recommended Book
Dave Chaffey, Internet Marketing
Fifth HOPE, Day 2
By Angela Gunn, USATODAY.com
NEW YORK — Apple co-founder Steve Wozniak's keynote punctuated the lively second day of The Fifth HOPE (Hackers On Planet Earth), the gathering at New York's Pennsylvania Hotel. The general atmosphere continued to be both elevated and festive, though a minor security incident did point out that even at a gathering such as this, some people feel bound to act out.
Wozniak, merry prankster
Another day, another keynote venue jammed to the rafters as Steve Wozniak took the podium to describe his life as a hacker, teacher and general prankster, including some of the highlights of his friendships with Steve Jobs ("Everything I ever invented in my life, he'd say, 'Let's sell it!'") and the fabled phone phreak John Draper (aka Captain Crunch). The crowd had a warm reception for his analysis of what makes a hacker: a sense of humor, the ability to derive pleasure from jokes and the unexpected, and a tendency to strive for internal rather than external rewards ("we're not motivated by the money; I don't see a lot of it in this room, and I gave mine away"). He described encouraging his students to hack each others' computers and reserved harsh words for the reasoning behind some of the past and current crackdown on computer exploration: "We're terrorists? Yeah, we're a threat to those who want to innovate with money rather than with brains."
Hogwarts for the real world?
Brains, hacking and the social order also concerned the day's most thought-provoking talk, a one-hour study and discussion on the prospects for a National Security College that could harness hacker intelligence, creativity and patriotism as the Peace Corps once harnessed the abilities of an earlier generation. Marc Tobias, a lawyer and expert on technical fraud and author of the leading textbook on lockpicking, raised the idea for general debate, encouraging attendees to describe what they thought might and might not work. The event was titled "Homeland Security and You: Harry Potter Meets Reality," and the idea of a Hogwarts for the real world clearly energized the crowd. Tobias also co-led a two-hour demonstration on lockpicking, a favorite topic in the hacker community.
Darker and darker
The mood was considerably gloomier in the Digital Rights Management talk given by Slashdot's Michael Sims, who painted a miserable picture of current entertainment and tech industry efforts to compromise what ordinary folk can do with their computers and home-entertainment gear. He compared their efforts to those of hackers who also strive to gain subtle yet pervasive control of others' machines. Sims concluded by saying he sees little light at the end of the tunnel, whereupon New Yorkers for Fair Use's Jay Sulzburger jumped up to tell the audience that Sims was being too optimistic. The ensuring discussion spilled into the hallways and continued for some time thereafter.
General notes
Most first-time HOPE attendees are pleasantly surprised by the tone of debate around here; in an era of news-television bloviation, most participants are somehow still able to express extreme disagreement without flipping out entirely… general conference behavior has been relatively good, though person or persons unknown were chided at one point for spilling or pouring perfume around one of the hotel rooms, and restrooms on one floor were closed temporarily on account of graffiti… the informal ch1x0rs panel (semi-officially titled The Women of 2600) drew an SRO crowd, at one point nearly erupting into a flame war as panelists described what it's like to be a female in the hacker community; it's hoped that next HOPE sees this panel elevated to main- or second-seminar status… the Kisses $1 lady who turned up in the vendor area on Friday was joined by a woman offering Free Hugs and a man offering Free Sex; if there were takers for any, some reporters don't want to know… sales of caffeinated mints rumored high… security staffers report that general mood continues peaceful, cite de-emphasis on live music as possible cause.
NEW YORK — Apple co-founder Steve Wozniak's keynote punctuated the lively second day of The Fifth HOPE (Hackers On Planet Earth), the gathering at New York's Pennsylvania Hotel. The general atmosphere continued to be both elevated and festive, though a minor security incident did point out that even at a gathering such as this, some people feel bound to act out.
Wozniak, merry prankster
Another day, another keynote venue jammed to the rafters as Steve Wozniak took the podium to describe his life as a hacker, teacher and general prankster, including some of the highlights of his friendships with Steve Jobs ("Everything I ever invented in my life, he'd say, 'Let's sell it!'") and the fabled phone phreak John Draper (aka Captain Crunch). The crowd had a warm reception for his analysis of what makes a hacker: a sense of humor, the ability to derive pleasure from jokes and the unexpected, and a tendency to strive for internal rather than external rewards ("we're not motivated by the money; I don't see a lot of it in this room, and I gave mine away"). He described encouraging his students to hack each others' computers and reserved harsh words for the reasoning behind some of the past and current crackdown on computer exploration: "We're terrorists? Yeah, we're a threat to those who want to innovate with money rather than with brains."
Hogwarts for the real world?
Brains, hacking and the social order also concerned the day's most thought-provoking talk, a one-hour study and discussion on the prospects for a National Security College that could harness hacker intelligence, creativity and patriotism as the Peace Corps once harnessed the abilities of an earlier generation. Marc Tobias, a lawyer and expert on technical fraud and author of the leading textbook on lockpicking, raised the idea for general debate, encouraging attendees to describe what they thought might and might not work. The event was titled "Homeland Security and You: Harry Potter Meets Reality," and the idea of a Hogwarts for the real world clearly energized the crowd. Tobias also co-led a two-hour demonstration on lockpicking, a favorite topic in the hacker community.
Darker and darker
The mood was considerably gloomier in the Digital Rights Management talk given by Slashdot's Michael Sims, who painted a miserable picture of current entertainment and tech industry efforts to compromise what ordinary folk can do with their computers and home-entertainment gear. He compared their efforts to those of hackers who also strive to gain subtle yet pervasive control of others' machines. Sims concluded by saying he sees little light at the end of the tunnel, whereupon New Yorkers for Fair Use's Jay Sulzburger jumped up to tell the audience that Sims was being too optimistic. The ensuring discussion spilled into the hallways and continued for some time thereafter.
General notes
Most first-time HOPE attendees are pleasantly surprised by the tone of debate around here; in an era of news-television bloviation, most participants are somehow still able to express extreme disagreement without flipping out entirely… general conference behavior has been relatively good, though person or persons unknown were chided at one point for spilling or pouring perfume around one of the hotel rooms, and restrooms on one floor were closed temporarily on account of graffiti… the informal ch1x0rs panel (semi-officially titled The Women of 2600) drew an SRO crowd, at one point nearly erupting into a flame war as panelists described what it's like to be a female in the hacker community; it's hoped that next HOPE sees this panel elevated to main- or second-seminar status… the Kisses $1 lady who turned up in the vendor area on Friday was joined by a woman offering Free Hugs and a man offering Free Sex; if there were takers for any, some reporters don't want to know… sales of caffeinated mints rumored high… security staffers report that general mood continues peaceful, cite de-emphasis on live music as possible cause.
Friday 22 February 2008
Government’s loans for poor students: Money for life
The Prime Minister’s decision to make higher levels of credit available to students eases the burden on both students and families alike. Report below shows more clearly.
Imagine an outstanding student from a remote province coming to the city to study at university, but trying to borrow money for life’s daily needs. Imagine her disappointment at being refused a bank loan. Imagine her dropping out of school solely for financial reasons. Imagine the tears rolling down her check. (OOP)
Such was the situation faced by Nguyen Phuong Thuy from Thai Binh province, who last year was a third year student at the Faculty of Literature at the Hanoi National University. Having lost both her mother and father at the age of eight, Thuy did not have to pay tuition fees but finding money for her daily needs proved to be a nightmare.
“Life in the city was and still is very difficult,” said Thuy. “Every month I received VND200,000 ($12.5) from my sister and it was hard to find a job as I have no connections. I was duped by a job centre and lost money. I also used to live on a loan from the class fund and the scholarship for good students. When the situation became desperate I decided to drop out of school for a year.”
Returning to her studies this year, Thuy’s concerns have been partly eased as she now has a job and, more importantly, she can benefit from a new government policy in Decision 157/2007/QD-TTg, under which she can borrow up to VND800,000 ($50) a month for her daily needs. “The money will make life a lot easier,” said Thuy.
The Prime Ministerial Decision, according to Deputy Prime Minister and Minister of Education and Training, Mr Nguyen Thien Nhan, is timely and has considerable political significance, attracting interest from all citizens. The policy, he said, is evidence of Vietnam’s social justice.
“Providing loans for poor students is a very good policy,” said Ha Thanh Tung from Hanoi. “There is nothing as good as investing in education and we should not allow students to drop out of school and forego opportunities just because of money. The country still lacks talent so we should invest more in our educational system. Imagine if everybody in Vietnam could communicate in English and use a computer. Vietnam would be stronger, even more than China.”
“As a lecturer for many universities and also a sociologist I can see no plausible reason to oppose this decision from the Prime Minister,” said Dr Trinh Hoa Binh from the Institute of Sociology under the Vietnamese Academy of Social Sciences. “After all, the salaries of many lecturers are more or less paid from student fees. If the students can pay fees then the lecturer’s life can be guaranteed, and that’s good for students. In addition, the policy affirms the important role played by students in society. The ‘student’ brand name has become a trusted thing when borrowing money. It is easier for them than for others who have to have collateral.”
Each student can borrow up to VND800,000 from the Vietnam Bank for Social Policy at an interest rate of 0.5 per cent per month, up from the previous VND300,000 ($20) with an interest rate of 0.65 per cent. Students will not have to repay the loan until a year after completing their studies.
“As a father with children pursuing academic achievements I support the policy,” said Nguyen Van Thuong from Hanoi. “It will be particularly helpful for those facing difficulties or from remote areas. The debt from four years of study could be quite a sum and may lead to two cases. The first is that it will burden the student’s family, but this should encourage them to study harder and find a good job after graduation. And that’s also good the country’s economy. The other case may be that the state is unable to collect the debt from some people.”
“I think the policy will help a lot of students, as many of them come from rural areas and do not have the support of their families, as city dwellers like myself do,” said Duong Thu Trang, a student from Hanoi. “They will have money to cover their everyday needs. The time of settling the debt, though, should be lengthened to two years because who can say for sure if, after a year, they will have a job that allows them to repay it.”
According to Tran Thi Hoai, a poor student at the Academy of Technology Science, the income earned from farming is very small. “My family have not much land to cultivate and our monthly income is only VND400,000 to VND 500,000 ($25 to $31), while I need VND600,000 to VND700,000 ($37.5 to $44) per month to live,” she said. “Before the policy, my family usually had help from relatives and from extra work. Now things can change, as my parents will not be under such a strain. It will still be difficult, but after I graduate I can earn a living and repay the debt.”
As a developing country with more than 70 per cent of its population living in rural areas and reducing hunger and poverty remaining an important task, the decision really does represent good policy. Calculations by the Vietnam Bank for Social Policy indicate that 25-30 per cent of students throughout the country will have access to the loans.
To immediately help poor students, according to Mr Pham Phan Dung, Head of the Banking and Finance Department under the Ministry of Finance, the Ministry asked for permission from the Prime Minister to use VND500 billion on student loans at the beginning of October.
As a third year student with an average result of 9.0 in her first two years, Thuy hopes to work just a little and concentrate a great deal on her studies, as she hopes to become a lecturer at her university. “Borrowing from the state means I have more time to learn and pursue my goal of becoming a good teacher,” she said happily. “I hope to finish school early and start work to repay the debt. My dream, I think, is possible.”
Applicable students
Students in difficult circumstances studying at universities, colleges, intermediate and vocational training schools established according to Vietnamese law, including:
1. Orphaned students, those without either a mother or father, or those whose parents are unable to work.
2. Students that are members of households belonging to the following groups:
- Poor households, according to the law;
- Households with per capita income equal to 150 per cent of a poor household’s per capita income, according to the law.
3. Students facing financial difficulties caused by accidents, natural disasters, fires, or pandemics during school time. Difficulties must be confirmed by local authorities.
Students already borrowing money during their time at intermediate schools or colleges, who then study at colleges or universities
(Source: CPV)
Imagine an outstanding student from a remote province coming to the city to study at university, but trying to borrow money for life’s daily needs. Imagine her disappointment at being refused a bank loan. Imagine her dropping out of school solely for financial reasons. Imagine the tears rolling down her check. (OOP)
Such was the situation faced by Nguyen Phuong Thuy from Thai Binh province, who last year was a third year student at the Faculty of Literature at the Hanoi National University. Having lost both her mother and father at the age of eight, Thuy did not have to pay tuition fees but finding money for her daily needs proved to be a nightmare.
“Life in the city was and still is very difficult,” said Thuy. “Every month I received VND200,000 ($12.5) from my sister and it was hard to find a job as I have no connections. I was duped by a job centre and lost money. I also used to live on a loan from the class fund and the scholarship for good students. When the situation became desperate I decided to drop out of school for a year.”
Returning to her studies this year, Thuy’s concerns have been partly eased as she now has a job and, more importantly, she can benefit from a new government policy in Decision 157/2007/QD-TTg, under which she can borrow up to VND800,000 ($50) a month for her daily needs. “The money will make life a lot easier,” said Thuy.
The Prime Ministerial Decision, according to Deputy Prime Minister and Minister of Education and Training, Mr Nguyen Thien Nhan, is timely and has considerable political significance, attracting interest from all citizens. The policy, he said, is evidence of Vietnam’s social justice.
“Providing loans for poor students is a very good policy,” said Ha Thanh Tung from Hanoi. “There is nothing as good as investing in education and we should not allow students to drop out of school and forego opportunities just because of money. The country still lacks talent so we should invest more in our educational system. Imagine if everybody in Vietnam could communicate in English and use a computer. Vietnam would be stronger, even more than China.”
“As a lecturer for many universities and also a sociologist I can see no plausible reason to oppose this decision from the Prime Minister,” said Dr Trinh Hoa Binh from the Institute of Sociology under the Vietnamese Academy of Social Sciences. “After all, the salaries of many lecturers are more or less paid from student fees. If the students can pay fees then the lecturer’s life can be guaranteed, and that’s good for students. In addition, the policy affirms the important role played by students in society. The ‘student’ brand name has become a trusted thing when borrowing money. It is easier for them than for others who have to have collateral.”
Each student can borrow up to VND800,000 from the Vietnam Bank for Social Policy at an interest rate of 0.5 per cent per month, up from the previous VND300,000 ($20) with an interest rate of 0.65 per cent. Students will not have to repay the loan until a year after completing their studies.
“As a father with children pursuing academic achievements I support the policy,” said Nguyen Van Thuong from Hanoi. “It will be particularly helpful for those facing difficulties or from remote areas. The debt from four years of study could be quite a sum and may lead to two cases. The first is that it will burden the student’s family, but this should encourage them to study harder and find a good job after graduation. And that’s also good the country’s economy. The other case may be that the state is unable to collect the debt from some people.”
“I think the policy will help a lot of students, as many of them come from rural areas and do not have the support of their families, as city dwellers like myself do,” said Duong Thu Trang, a student from Hanoi. “They will have money to cover their everyday needs. The time of settling the debt, though, should be lengthened to two years because who can say for sure if, after a year, they will have a job that allows them to repay it.”
According to Tran Thi Hoai, a poor student at the Academy of Technology Science, the income earned from farming is very small. “My family have not much land to cultivate and our monthly income is only VND400,000 to VND 500,000 ($25 to $31), while I need VND600,000 to VND700,000 ($37.5 to $44) per month to live,” she said. “Before the policy, my family usually had help from relatives and from extra work. Now things can change, as my parents will not be under such a strain. It will still be difficult, but after I graduate I can earn a living and repay the debt.”
As a developing country with more than 70 per cent of its population living in rural areas and reducing hunger and poverty remaining an important task, the decision really does represent good policy. Calculations by the Vietnam Bank for Social Policy indicate that 25-30 per cent of students throughout the country will have access to the loans.
To immediately help poor students, according to Mr Pham Phan Dung, Head of the Banking and Finance Department under the Ministry of Finance, the Ministry asked for permission from the Prime Minister to use VND500 billion on student loans at the beginning of October.
As a third year student with an average result of 9.0 in her first two years, Thuy hopes to work just a little and concentrate a great deal on her studies, as she hopes to become a lecturer at her university. “Borrowing from the state means I have more time to learn and pursue my goal of becoming a good teacher,” she said happily. “I hope to finish school early and start work to repay the debt. My dream, I think, is possible.”
Applicable students
Students in difficult circumstances studying at universities, colleges, intermediate and vocational training schools established according to Vietnamese law, including:
1. Orphaned students, those without either a mother or father, or those whose parents are unable to work.
2. Students that are members of households belonging to the following groups:
- Poor households, according to the law;
- Households with per capita income equal to 150 per cent of a poor household’s per capita income, according to the law.
3. Students facing financial difficulties caused by accidents, natural disasters, fires, or pandemics during school time. Difficulties must be confirmed by local authorities.
Students already borrowing money during their time at intermediate schools or colleges, who then study at colleges or universities
(Source: CPV)
Whale watching indoors in Nha Trang
The Nha Trang Oceanographic Museum located inside the Institute of Oceanography (01 Cau Da, Nha Trang City) is a prime destination for tourists.
A skeleton of a Humpack whale at the Nha Trang Oceanographic Museum.The museum houses a diverse collection of ocean creatures and conducts marine research.
Since its establishment in 1923, the Institute of Oceanography has collected and preserved more than 20,000 specimens and more than 4,000 sea and freshwater species. The institute also has a number of live specimens in their aquariums.
For Vietnamese fishermen, the whale is a legendary beast. In fact, there are numerous temples dedicated to dead whales. Also known as ca ong (lord fish), whales are tremendous mammals who give birth and feed their offspring with milk.
According to the researchers, the whale has existed for more than 70mil years, but is currently in danger of extinction as a result of hunting. Since 1931, many countries have actively protected the whale through whale protection agreements.
This year, the museum has added new specimens and dedicated a 250-square-meter area to displaying whales.
Within the exhibition area, the skeleton of a giant Humpback whale stretching 19-meters long and weighing nearly one ton has made a strong impression on tourists.
While digging a ditch in 1994, the people of Hai Hau Commune in Nam Ha Province discovered the skeleton 1.2-meters below the surface.
The site of the skeleton was four kilometers from the sea, but in the past, was a beach. The work of moving and restoring the skeleton took great care and effort from all parties involved.
The exhibition area also features a skeleton of a Dugong, a large marine mammal, which died in early 1997 at Lo Voi, Condao National Park in Vung Tau. The skeleton spans 273 centimeters and weighs 300 kilograms. The Dugong was considered a mermaid in ancient Greek tales due to its howling, which resembled a woman singing.
The exhibition also includes illustrated images of whale skeletons from throughout the country including two that died in 1995; one at Tho Chu Island from the Quang Ninh Museum and another that died in Tien Hai District from the Thai Binh Museum. The one from Thai Binh stretches 13.5 meters with 13 sets of ribs. An image of the skeleton of the largest Fin Whale is also on display. It measures two meters in length and was discovered in 1850 and is currently preserved in Van Thuy Tu (Phan Thiet).
In addition to skeletal structures and images, the exhibit features pictures and movies about the life of different types of whales such as the Humpback, North Pacific Right and Bryde.
The exhibition at the Oceanographic Museum is not only informative, but also educates the public about preserving these precious creatures.
(Source: SGT)
A skeleton of a Humpack whale at the Nha Trang Oceanographic Museum.The museum houses a diverse collection of ocean creatures and conducts marine research.
Since its establishment in 1923, the Institute of Oceanography has collected and preserved more than 20,000 specimens and more than 4,000 sea and freshwater species. The institute also has a number of live specimens in their aquariums.
For Vietnamese fishermen, the whale is a legendary beast. In fact, there are numerous temples dedicated to dead whales. Also known as ca ong (lord fish), whales are tremendous mammals who give birth and feed their offspring with milk.
According to the researchers, the whale has existed for more than 70mil years, but is currently in danger of extinction as a result of hunting. Since 1931, many countries have actively protected the whale through whale protection agreements.
This year, the museum has added new specimens and dedicated a 250-square-meter area to displaying whales.
Within the exhibition area, the skeleton of a giant Humpback whale stretching 19-meters long and weighing nearly one ton has made a strong impression on tourists.
While digging a ditch in 1994, the people of Hai Hau Commune in Nam Ha Province discovered the skeleton 1.2-meters below the surface.
The site of the skeleton was four kilometers from the sea, but in the past, was a beach. The work of moving and restoring the skeleton took great care and effort from all parties involved.
The exhibition area also features a skeleton of a Dugong, a large marine mammal, which died in early 1997 at Lo Voi, Condao National Park in Vung Tau. The skeleton spans 273 centimeters and weighs 300 kilograms. The Dugong was considered a mermaid in ancient Greek tales due to its howling, which resembled a woman singing.
The exhibition also includes illustrated images of whale skeletons from throughout the country including two that died in 1995; one at Tho Chu Island from the Quang Ninh Museum and another that died in Tien Hai District from the Thai Binh Museum. The one from Thai Binh stretches 13.5 meters with 13 sets of ribs. An image of the skeleton of the largest Fin Whale is also on display. It measures two meters in length and was discovered in 1850 and is currently preserved in Van Thuy Tu (Phan Thiet).
In addition to skeletal structures and images, the exhibit features pictures and movies about the life of different types of whales such as the Humpback, North Pacific Right and Bryde.
The exhibition at the Oceanographic Museum is not only informative, but also educates the public about preserving these precious creatures.
(Source: SGT)
Hope for five siblings with facial tumours
The Central Hospital for Odontology-Stomatology has received the five siblings who have huge tumours on their faces.
A family with five children with humps on their faces
Doctors have said that it will be difficult to perform operations on those patients but hope still exists.
Doctor Tran Van Phu, Head of the General Plan Department of the hospital, said that it was highly possible that this was a hereditary disease.
The hospital has carried out some tests on those patients but doctors have not determined the reasons yet. The hospital has sent case-records of those siblings to German experts for consideration.
Dr. Tran Thiet Son, Head of the Plastic Surgery Department at Hanoi-based Saint Paul’s Hospital, said that the huge tumours were most likely fibromas.
In this case, the best treatment method is to cut them off. However, the operations are difficult because the tumours are connected to the childrens’ noses, mouths and eyes.
However, if the patients are not operated on, the tumours will grow and cover their mouths, eyes, noses.
There is no member of the family of those patients that participated in the war, nor have any of their relatives ever had such a condition.
A family with five children with humps on their faces
Doctors have said that it will be difficult to perform operations on those patients but hope still exists.
Doctor Tran Van Phu, Head of the General Plan Department of the hospital, said that it was highly possible that this was a hereditary disease.
The hospital has carried out some tests on those patients but doctors have not determined the reasons yet. The hospital has sent case-records of those siblings to German experts for consideration.
Dr. Tran Thiet Son, Head of the Plastic Surgery Department at Hanoi-based Saint Paul’s Hospital, said that the huge tumours were most likely fibromas.
In this case, the best treatment method is to cut them off. However, the operations are difficult because the tumours are connected to the childrens’ noses, mouths and eyes.
However, if the patients are not operated on, the tumours will grow and cover their mouths, eyes, noses.
There is no member of the family of those patients that participated in the war, nor have any of their relatives ever had such a condition.
Ha Long Bay tops Wonder list
Ha Long Bay was ranked first on the New 7 Wonders of Nature Nominees Ranking while the second and third position belonged to Bangladesh’s Cox’s Baza Beach and Sundarbans Forest.
The other two contenders from Vietnam were listed in the top five, namely Fansipan Mountain and Phong Nha – Ke Bang National Park. Fansipan rose to fifth while Phong Nha – Ke Bang maintained its position at fourth. Voting online for nominees will continue through December 31. Then, a panel of experts will create a list of 21 candidates from which voters worldwide will elect the New 7 Wonders of Nature. The New 7 Wonders Panel of Experts, under the leadership of Prof. Federico Mayor, former Director-General of UNESCO, will select the 21 Finalists from the top-ranked Official Supported Nominees. The 21 finalists will then be put to popular vote.
The top seven sites today:
1. Vietnam’s Ha Long Bay
2. Bangladesh’s Cox’s Bazar Beach
3. Bangladesh and India’s Sundarbans Forest
4. Vietnam’s Phong Nha – Ke Bang National Park
5. Vietnam’s Fansipan Mountain
6. Costa Rica’s Cocos Island
7. Bangladesh, India’s Ganges River
(Source: Tuoi Tre)
The other two contenders from Vietnam were listed in the top five, namely Fansipan Mountain and Phong Nha – Ke Bang National Park. Fansipan rose to fifth while Phong Nha – Ke Bang maintained its position at fourth. Voting online for nominees will continue through December 31. Then, a panel of experts will create a list of 21 candidates from which voters worldwide will elect the New 7 Wonders of Nature. The New 7 Wonders Panel of Experts, under the leadership of Prof. Federico Mayor, former Director-General of UNESCO, will select the 21 Finalists from the top-ranked Official Supported Nominees. The 21 finalists will then be put to popular vote.
The top seven sites today:
1. Vietnam’s Ha Long Bay
2. Bangladesh’s Cox’s Bazar Beach
3. Bangladesh and India’s Sundarbans Forest
4. Vietnam’s Phong Nha – Ke Bang National Park
5. Vietnam’s Fansipan Mountain
6. Costa Rica’s Cocos Island
7. Bangladesh, India’s Ganges River
(Source: Tuoi Tre)
Flood barriers new hope for coastal regions
Vietnam is pinning its hopes on a new kind of dam to prevent flooding instead of using thousands of sandbags.
The flood protection barrier can be used immediately, especially in case of sudden flood, Dang Quang Tinh, Director of the Department for Dyke Management and Flood Control, postulated.
The barrier consists two PE/PP tubes including an impermeable inner liner, and a durable outer layer. The barriers are suitable for Vietnam's coastal regions, notably Hue city in central Thua Thien-Hue province and Hoi An in central Da Nang city, where dykes cannot be built, Tinh stressed.
The barrier was first demonstrated by Flooding Agency A/S from Denmark on the coast outside Da Nang city, on Monday, with support from the Danish Development Agency DANIDA.
Director Niels-Erik Jensen of Flooding Agency A/S, said his group is currently transferring this technology to two companies in Vietnam and added that his group is seeking Vietnamese partners to produce more barriers in Vietnam.
(Source: Econet)
The flood protection barrier can be used immediately, especially in case of sudden flood, Dang Quang Tinh, Director of the Department for Dyke Management and Flood Control, postulated.
The barrier consists two PE/PP tubes including an impermeable inner liner, and a durable outer layer. The barriers are suitable for Vietnam's coastal regions, notably Hue city in central Thua Thien-Hue province and Hoi An in central Da Nang city, where dykes cannot be built, Tinh stressed.
The barrier was first demonstrated by Flooding Agency A/S from Denmark on the coast outside Da Nang city, on Monday, with support from the Danish Development Agency DANIDA.
Director Niels-Erik Jensen of Flooding Agency A/S, said his group is currently transferring this technology to two companies in Vietnam and added that his group is seeking Vietnamese partners to produce more barriers in Vietnam.
(Source: Econet)
Hope falls on the shoulders of swimmer Huu Viet
After a successful SEA Games, where Huu Viet took home the gold medal for the men’s 100 m breaststroke, Vietnam’s swimmers are heading to the 2008 Olympics in Beijing.
Two weeks after the 24th SEA Games, members of the national swimming team gathered at the National Sports Training Center 2 in HCM City to continue drilling; after the lunar New Year festival (mid-February) they will have to hastily prepare for the 2008 Olympics qualifier round.
Five Vietnamese swimmers, including Huu Viet, will participate in the World Swimming Cup in Beijing in early March, which is the standard tournament to choose finalists for this year’s Olympics.
Huu Viet is the hope of Vietnam in this event and the expectation is grounded because he won two consecutive gold medals at the last two SEA Games in the men’s 100m breaststroke.
This event is also a valuable chance for Vietnamese swimmers to meet their rivals and gain experience to prepare for future tournaments.
(Source: Tien Phong)
Two weeks after the 24th SEA Games, members of the national swimming team gathered at the National Sports Training Center 2 in HCM City to continue drilling; after the lunar New Year festival (mid-February) they will have to hastily prepare for the 2008 Olympics qualifier round.
Five Vietnamese swimmers, including Huu Viet, will participate in the World Swimming Cup in Beijing in early March, which is the standard tournament to choose finalists for this year’s Olympics.
Huu Viet is the hope of Vietnam in this event and the expectation is grounded because he won two consecutive gold medals at the last two SEA Games in the men’s 100m breaststroke.
This event is also a valuable chance for Vietnamese swimmers to meet their rivals and gain experience to prepare for future tournaments.
(Source: Tien Phong)
hope college
Hope College is a distinguished and distinctive four-year, liberal arts, undergraduate college, affiliated with the Reformed Church in America. Its great religious heritage is expressed through a dynamic Christian community of students and teachers vitally concerned with a relevant faith that changes lives and transforms society. The curriculum offers a variety of courses in 89 majors leading to a Bachelor of Arts, Bachelor of Music, Bachelor of Science, or Bachelor of Science in Nursing degree. The college has long been known for outstanding pre-professional training. Each year many graduates go on to further study in the leading graduate and professional schools in this country and abroad; others directly enter professions. During the 2006-07 school year, Hope had 3,203 students from 44 states and territories and 29 foreign countries.
Hope College is accredited by The Higher Learning Commission* and a member of the North Central Association. Hope is also accredited by the American Chemical Society, the Commission on Accreditation of Allied Health Education Programs, the Commission on Collegiate Nursing Education, the Council on Social Work Education, the National Association of Schools of Art and Design, the National Association of Schools of Dance, the National Association of Schools of Music, the National Association of Schools of Theatre, the National Council for Accreditation of Teacher Education, the Engineering Commission of the Accreditation Board for Engineering and Technology for the Bachelor of Science Degree with a major in engineering, and other agencies.
Hope Occupies a special place in the vast array of educational opportunities offered in the United States. It makes its contribution to the vitality and diversity of American higher education through the distinctiveness of its educational philosophy and program. As a liberal arts college offering education within the context of the historic Christian faith, Hope is a place of open inquiry, acceptance of intellectual challenge, rigorous engagement with hard questions, and vigorous but civil discussion of different beliefs and understandings; in the words of the Covenant of Mutual Responsibilities between the Reformed Church in America and its colleges, it is a place characterized by "an atmosphere of search and confrontation that will liberate the minds, enhance the discernment, enlarge the sympathies, and encourage the commitments of all students entrusted to (it)." For more than a century, Hope has cherished the conviction that life is God's trust, a trust which each of us is called to personally activate by an insistent concern for intelligent involvement in the human community and its problems.
Hope's Reason for being is each individual student. It seeks to develop the growth of each student as a competent, creative, and compassionate person. Its design is to provide a complete opportunity for the fulfillment of each individual student, not only for his or her self-gratification, but also for what can be given to others in service to God and humanity.
Hope Believes that a vital faith, which provides both the incentive and dynamic for learning and living, is central to education and life.
Hope Welcomes capable men and women of all social and economic levels. Hope is interested in students who sincerely seek to enlarge their minds, to deepen their commitments, and to develop their capacities for service.
Hope Provides an adventure in learning and living, not only for knowledge and wisdom, but also for understanding, meaning, and purpose. As partners in this seeking fellowship, Hope students find a faculty of professionally distinguished scholars who have a genuine concern for the total development of each student. Hope's finest professors teach introductory as well as advanced courses. Independent work on a self-directed basis is encouraged.
Hope Offers a well-equipped and friendly environment. Campus life pivots around residence halls, which serve as social centers and provide congenial surroundings for students to learn with one another. The diversity of student backgrounds, geographic and ethnic origins, and personal interests adds variety and richness to the group living experience. The campus is 90 percent accessible to students who are mobility impaired. Examples of all housing options (residence hall, apartment and cottage), as well as most major academic buildings, are accessible to mobility-impaired persons. Many co-curricular activities and cultural events provide a variety of rich opportunities for learning and personal development.
Hope Prepares men and women who are persons in their own rights — uncommon men and women who have a personal dignity based on intelligence, a sense of responsibility, and a deeply rooted faith. For more than a century, Hope has prepared alumni to go to the four corners of the world — alumni who have enriched their professions and humanity far out of proportion to their numbers. Hope graduates aim to go beyond specialization toward a synthesis of all learning in life.
Hope College is accredited by The Higher Learning Commission* and a member of the North Central Association. Hope is also accredited by the American Chemical Society, the Commission on Accreditation of Allied Health Education Programs, the Commission on Collegiate Nursing Education, the Council on Social Work Education, the National Association of Schools of Art and Design, the National Association of Schools of Dance, the National Association of Schools of Music, the National Association of Schools of Theatre, the National Council for Accreditation of Teacher Education, the Engineering Commission of the Accreditation Board for Engineering and Technology for the Bachelor of Science Degree with a major in engineering, and other agencies.
Hope Occupies a special place in the vast array of educational opportunities offered in the United States. It makes its contribution to the vitality and diversity of American higher education through the distinctiveness of its educational philosophy and program. As a liberal arts college offering education within the context of the historic Christian faith, Hope is a place of open inquiry, acceptance of intellectual challenge, rigorous engagement with hard questions, and vigorous but civil discussion of different beliefs and understandings; in the words of the Covenant of Mutual Responsibilities between the Reformed Church in America and its colleges, it is a place characterized by "an atmosphere of search and confrontation that will liberate the minds, enhance the discernment, enlarge the sympathies, and encourage the commitments of all students entrusted to (it)." For more than a century, Hope has cherished the conviction that life is God's trust, a trust which each of us is called to personally activate by an insistent concern for intelligent involvement in the human community and its problems.
Hope's Reason for being is each individual student. It seeks to develop the growth of each student as a competent, creative, and compassionate person. Its design is to provide a complete opportunity for the fulfillment of each individual student, not only for his or her self-gratification, but also for what can be given to others in service to God and humanity.
Hope Believes that a vital faith, which provides both the incentive and dynamic for learning and living, is central to education and life.
Hope Welcomes capable men and women of all social and economic levels. Hope is interested in students who sincerely seek to enlarge their minds, to deepen their commitments, and to develop their capacities for service.
Hope Provides an adventure in learning and living, not only for knowledge and wisdom, but also for understanding, meaning, and purpose. As partners in this seeking fellowship, Hope students find a faculty of professionally distinguished scholars who have a genuine concern for the total development of each student. Hope's finest professors teach introductory as well as advanced courses. Independent work on a self-directed basis is encouraged.
Hope Offers a well-equipped and friendly environment. Campus life pivots around residence halls, which serve as social centers and provide congenial surroundings for students to learn with one another. The diversity of student backgrounds, geographic and ethnic origins, and personal interests adds variety and richness to the group living experience. The campus is 90 percent accessible to students who are mobility impaired. Examples of all housing options (residence hall, apartment and cottage), as well as most major academic buildings, are accessible to mobility-impaired persons. Many co-curricular activities and cultural events provide a variety of rich opportunities for learning and personal development.
Hope Prepares men and women who are persons in their own rights — uncommon men and women who have a personal dignity based on intelligence, a sense of responsibility, and a deeply rooted faith. For more than a century, Hope has prepared alumni to go to the four corners of the world — alumni who have enriched their professions and humanity far out of proportion to their numbers. Hope graduates aim to go beyond specialization toward a synthesis of all learning in life.
The Internet Marketing Plan
Internet marketing plan is an operational plan to achieve an Internet marketing strategy through implementation of a new version of a web site and associated marketing communications. Chaffey et al. (2003) suggests that eight important decisions should be taken to formulate the Internet marketing plan:
· Decision point 1: Who are the potential audience?
· Decision point 2: Integrating ‘the nets’
· Decision point 3: Defining the scope of Internet marketing communications
· Decision point 4: How do we ‘migrate’ our brands on to the Internet
· Decision point 5: Strategy partnerships
· Decision point 6: Organizational structure
· Decision point 7: Setting the budget
· Decision point 8: The schedule
A suggested Internet marketing investment plan
1. Objectives statement
§ Corporate objectives of online marketing (mission statement)
§ Detailed objectives: tangible and intangible benefits, specific critical success factors
§ Contribution of Internet to promotional and sales activities
§ Value proposition of website to customer
2. Strategic positioning
§ Impact of Internet on existing sales and promotion channels
§ Impact of Internet on market structure and representation needed
§ Strategic positioning in response to perceived impact
3. Assessment of current position
(a) Internal audits
§ Internet marketing audit (business, marketing and Internet marketing effectiveness)
§ Audience composition and characteristics
§ Web site contribution to sales and profitability
(b) External audits
§ Business and economic environment
§ The market and customer activity
§ Competition – threats from new services and new companies?
4. Assess opportunities and threats
§ Market and product positioning
§ Methods of creating digital value and detailed statement of customer value proposition
§ Marketplace positioning (buyer, seller and neutral marketplaces)
§ Scope of marketing functions.
5. Partnering arrangement
§ Promotion
§ Distribution
§ Development
6. Integrating the ‘nets’
Assessing the role and plans for integrating:
§ Internet
§ Extranet
§ Intranet
7. Channel choices
(a) Use of:
§ Seller-controlled sites
§ Buyer-controlled sites
§ Neutral site
(b) Channel choices: split of sales between manufactures and resellers.
8. Promotional and communication activities
Specifying online and offline promotion methods and costs such as advertising and PR. How will existing promotional activities be represented on the web site? Role of one-to-one marketing.
9. New media branding
Options and risks assessments for brand:
§ Migrate traditional brand online.
§ Extend traditional brand: variant.
§ Partner with existing digital brand
§ Create a new digital brand.
10. Measuring site effectiveness
Identify a measurement process and metrics covering:
§ Business contribution
§ Marketing effectiveness (offline measures, e.g. leads, sales, brand enhancement)
§ Internet marketing effectiveness (online measures, e.g. page impressions, visitors, repeat visits, registrations).
11. Resource requirements:
§ Budget including costs for development, promotion and maintenance
§ Time-scale
§ Staff
§ Outsourcing
12. Implementation
§ Project management.
§ Team organization and responsibilities
§ Risk assessment (identifying risks, measures to counter risks).
§ Legal issues.
§ Development and maintenance process.
(Source: Chaffey et al. (2003), Internet Marketing
Recommended Book
Dave Chaffey, Internet Marketing
· Decision point 1: Who are the potential audience?
· Decision point 2: Integrating ‘the nets’
· Decision point 3: Defining the scope of Internet marketing communications
· Decision point 4: How do we ‘migrate’ our brands on to the Internet
· Decision point 5: Strategy partnerships
· Decision point 6: Organizational structure
· Decision point 7: Setting the budget
· Decision point 8: The schedule
A suggested Internet marketing investment plan
1. Objectives statement
§ Corporate objectives of online marketing (mission statement)
§ Detailed objectives: tangible and intangible benefits, specific critical success factors
§ Contribution of Internet to promotional and sales activities
§ Value proposition of website to customer
2. Strategic positioning
§ Impact of Internet on existing sales and promotion channels
§ Impact of Internet on market structure and representation needed
§ Strategic positioning in response to perceived impact
3. Assessment of current position
(a) Internal audits
§ Internet marketing audit (business, marketing and Internet marketing effectiveness)
§ Audience composition and characteristics
§ Web site contribution to sales and profitability
(b) External audits
§ Business and economic environment
§ The market and customer activity
§ Competition – threats from new services and new companies?
4. Assess opportunities and threats
§ Market and product positioning
§ Methods of creating digital value and detailed statement of customer value proposition
§ Marketplace positioning (buyer, seller and neutral marketplaces)
§ Scope of marketing functions.
5. Partnering arrangement
§ Promotion
§ Distribution
§ Development
6. Integrating the ‘nets’
Assessing the role and plans for integrating:
§ Internet
§ Extranet
§ Intranet
7. Channel choices
(a) Use of:
§ Seller-controlled sites
§ Buyer-controlled sites
§ Neutral site
(b) Channel choices: split of sales between manufactures and resellers.
8. Promotional and communication activities
Specifying online and offline promotion methods and costs such as advertising and PR. How will existing promotional activities be represented on the web site? Role of one-to-one marketing.
9. New media branding
Options and risks assessments for brand:
§ Migrate traditional brand online.
§ Extend traditional brand: variant.
§ Partner with existing digital brand
§ Create a new digital brand.
10. Measuring site effectiveness
Identify a measurement process and metrics covering:
§ Business contribution
§ Marketing effectiveness (offline measures, e.g. leads, sales, brand enhancement)
§ Internet marketing effectiveness (online measures, e.g. page impressions, visitors, repeat visits, registrations).
11. Resource requirements:
§ Budget including costs for development, promotion and maintenance
§ Time-scale
§ Staff
§ Outsourcing
12. Implementation
§ Project management.
§ Team organization and responsibilities
§ Risk assessment (identifying risks, measures to counter risks).
§ Legal issues.
§ Development and maintenance process.
(Source: Chaffey et al. (2003), Internet Marketing
Recommended Book
Dave Chaffey, Internet Marketing
Basic Marketing Concepts
According to John Stubbs, Chief Executive of the Chartered Institute of Marketing, “Marketing consists of the anticipation, identification and fulfilment of customers’ needs. It is, or should be, at the heart of every commercial enterprise (and a good few non-profit organizations as well). The source of every organization’s future cash flows is the customer, and it is the task of marketing to win customer preference. This requires highly professional marketers, but also a company-wide appreciation of the role and critical importance of marketing.”
It is therefore the communication and explanation of marketing to a wider audience is vital.
Marketing Definition
There are three main way to define marketing. As Forsyth (2003) points out:
· Marketing as a philosophy of business. That of seeing the customers and ensuring profitability by providing them with value satisfaction. The reverse of saying ‘This is what we make, buy some’, it ensures the business focuses on customer needs.
· Marketing as a function of business. It is the total management function that co-ordinates all that the philosophy implies, anticipating the demands of customers, identifying and satisfying their needs by providing the right product or service at the right price, time and place.
· Marketing as a series of techniques used to carry out the whole process. These include advertising and selling, plus a plethora of other promotional techniques and everything from research to pricing.
Marketing: art or science?
The techniques of promotion, advertising and selling are not precise in their effect. They, and marketing itself, are as much art as science. So the good marketers are as creative as they are technically able; whether they succeed or not may have as much to do with experience, and with ‘gut-feel’ as it does with following the rules. They are the modern-day commercial alchemists; except that instead of eye of toad and wing of bat their ingredients are USPs, copy platforms, self-liquidating offers and brand strategies. Perhaps more than any other management function marketing thrives on jargon; and whilst jargon is only professional slang, it is invaluable in an activity where the great thing is to appear more scientific than artistic (Forsyth, 2003).
Recommended Book
Patrick Forsyth, Marketing Stripped Bare—An Insider's Guide to the Secret Rules
It is therefore the communication and explanation of marketing to a wider audience is vital.
Marketing Definition
There are three main way to define marketing. As Forsyth (2003) points out:
· Marketing as a philosophy of business. That of seeing the customers and ensuring profitability by providing them with value satisfaction. The reverse of saying ‘This is what we make, buy some’, it ensures the business focuses on customer needs.
· Marketing as a function of business. It is the total management function that co-ordinates all that the philosophy implies, anticipating the demands of customers, identifying and satisfying their needs by providing the right product or service at the right price, time and place.
· Marketing as a series of techniques used to carry out the whole process. These include advertising and selling, plus a plethora of other promotional techniques and everything from research to pricing.
Marketing: art or science?
The techniques of promotion, advertising and selling are not precise in their effect. They, and marketing itself, are as much art as science. So the good marketers are as creative as they are technically able; whether they succeed or not may have as much to do with experience, and with ‘gut-feel’ as it does with following the rules. They are the modern-day commercial alchemists; except that instead of eye of toad and wing of bat their ingredients are USPs, copy platforms, self-liquidating offers and brand strategies. Perhaps more than any other management function marketing thrives on jargon; and whilst jargon is only professional slang, it is invaluable in an activity where the great thing is to appear more scientific than artistic (Forsyth, 2003).
Recommended Book
Patrick Forsyth, Marketing Stripped Bare—An Insider's Guide to the Secret Rules
Web site Promotion
Online promotion uses communication via the Internet itself to raise awareness about a site and drive traffic to it. This promotion may take the form of links from other sites, banner advertising or targeted e-mail messages.
Online Advertising
Advertising on the World Wide Web is generally acknowledged to take place when an advertiser pays to place advertising content on another web site.
Some important concepts of online promotion
Banner Advertisement:
A rectangular graphic displayed on a web page for the purposes of advertising. It is normally possible to perform a clickthrough to access further information. Banner many static or animated.
Page and ad impressions and reach
One page impression occurs when a member of the audience views a web page. One ad impression occurs when a person views an advertisement placed on the web page. Reach define the number of unique individuals who view an advertisement.
Effective frequency
The number of exposures of ad impressions (frequency) required for an advertisement to become effective.
Clickthrough and clickthrough rate
A clickthrough (or an advertisement click) occurs each time a user clicks on a banner advertisement with the mouse to direct him or her to a web page that contains further information.
The clickthrough rate is expressed as a percentage of total ad impressions, and refers to the proportion of users viewing an advertisement who click on it. It is calculated as the number of clickthroughs divided by the number of ad impressions.
Banner Advertising
Objective
Cartellieri et al (1997) identify the following objectives of banner advertising:
§ Delivering content
§ Enabling transaction
§ Shaping attitudes
§ Soliciting response
§ Encourage retention
Location for banner advertising
1. Portals
2. Generalized news services
3. Specialzed interest site
Paying for banner advertising
§ CPM and run-of-site: Cost per 1000 ad impressions. CPM is usually her for run-of-site advertisement where advertisements occur on all pages of the site.
§ Web site auditor: Auditors accurately measure usage of different sites in terms of the number of ad impressions and clickthrough rates.
§ Per exposure: typically through ad impressions or possibly through the length of time the user views an advertisement
§ Per response: payment only occurs according to the number of clickthroughs that occur
§ Per action: payment according to a marketing outcome such as downloading a product factsheet, a new sales lead received when the user fills in an online form giving his or her name and address, or an actual purchase placed online.
Making Banner advertising work:
1. Appropriate incentives are needed to achieve clickthrough
2. Creative design needs to be tested extensively
3. Appropriate keywords are needed
4. Placement of advertisement and timing need to be considered carefully
5. Consider the clickthrough quality, not just the quantity
6. Build the infrastructure to deal with the response
Other online promotion methods
Promotion in search engines and directories
One important aspect of traffic building is maximizing the number of users who find a web site when searching using keywords, in a search engine, directory or a portal. This promotion technique is particularly important in view of the number of web users who use such facilities for finding information. Achieving good search rating listings is a skilled job, which is often dependent on a webmaster who is familiar with the techniques for achieving good listings in search engines.
Links from other sites: co-branding and sponsorship
The growth of Internet-based sponsorship has been compared to the transition between radio and television advertising. Sponsorship as well as taking the form of a promoter sponsoring a site can make use of opportunities for involving individual personalities in sponsorships.
Co-branding is an arrangement between two or more companies where they agree to jointly display content and to conduct joint promotions using brand logos or banner advertisements.
Using e-mail for advertising
Email is used to communicating and building long-term relationships with customers, and inform customers of new product or market information relevant to them. Email can also used for paid-for advertising. For example, it is possible to buy space for an advertisement within an email newsletter.
Recommended Book
Dave Chaffey, Internet Marketing
Online Advertising
Advertising on the World Wide Web is generally acknowledged to take place when an advertiser pays to place advertising content on another web site.
Some important concepts of online promotion
Banner Advertisement:
A rectangular graphic displayed on a web page for the purposes of advertising. It is normally possible to perform a clickthrough to access further information. Banner many static or animated.
Page and ad impressions and reach
One page impression occurs when a member of the audience views a web page. One ad impression occurs when a person views an advertisement placed on the web page. Reach define the number of unique individuals who view an advertisement.
Effective frequency
The number of exposures of ad impressions (frequency) required for an advertisement to become effective.
Clickthrough and clickthrough rate
A clickthrough (or an advertisement click) occurs each time a user clicks on a banner advertisement with the mouse to direct him or her to a web page that contains further information.
The clickthrough rate is expressed as a percentage of total ad impressions, and refers to the proportion of users viewing an advertisement who click on it. It is calculated as the number of clickthroughs divided by the number of ad impressions.
Banner Advertising
Objective
Cartellieri et al (1997) identify the following objectives of banner advertising:
§ Delivering content
§ Enabling transaction
§ Shaping attitudes
§ Soliciting response
§ Encourage retention
Location for banner advertising
1. Portals
2. Generalized news services
3. Specialzed interest site
Paying for banner advertising
§ CPM and run-of-site: Cost per 1000 ad impressions. CPM is usually her for run-of-site advertisement where advertisements occur on all pages of the site.
§ Web site auditor: Auditors accurately measure usage of different sites in terms of the number of ad impressions and clickthrough rates.
§ Per exposure: typically through ad impressions or possibly through the length of time the user views an advertisement
§ Per response: payment only occurs according to the number of clickthroughs that occur
§ Per action: payment according to a marketing outcome such as downloading a product factsheet, a new sales lead received when the user fills in an online form giving his or her name and address, or an actual purchase placed online.
Making Banner advertising work:
1. Appropriate incentives are needed to achieve clickthrough
2. Creative design needs to be tested extensively
3. Appropriate keywords are needed
4. Placement of advertisement and timing need to be considered carefully
5. Consider the clickthrough quality, not just the quantity
6. Build the infrastructure to deal with the response
Other online promotion methods
Promotion in search engines and directories
One important aspect of traffic building is maximizing the number of users who find a web site when searching using keywords, in a search engine, directory or a portal. This promotion technique is particularly important in view of the number of web users who use such facilities for finding information. Achieving good search rating listings is a skilled job, which is often dependent on a webmaster who is familiar with the techniques for achieving good listings in search engines.
Links from other sites: co-branding and sponsorship
The growth of Internet-based sponsorship has been compared to the transition between radio and television advertising. Sponsorship as well as taking the form of a promoter sponsoring a site can make use of opportunities for involving individual personalities in sponsorships.
Co-branding is an arrangement between two or more companies where they agree to jointly display content and to conduct joint promotions using brand logos or banner advertisements.
Using e-mail for advertising
Email is used to communicating and building long-term relationships with customers, and inform customers of new product or market information relevant to them. Email can also used for paid-for advertising. For example, it is possible to buy space for an advertisement within an email newsletter.
Recommended Book
Dave Chaffey, Internet Marketing
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