One basic assumption of Black-Scholes model Essays

One basic assumption of Black-Scholes model Essays One basic assumption of Black-Scholes model Essay One basic assumption of Black-Scholes model Essay One basic assumption of Black-Scholes model is that the stock price is log-normally distributed with constant volatility. However, in option market, does this assumption hold? In our paper, we try to show how wrong Black-Scholes is by challenging this assumption and illustrate the difference between Black-Scholes and real world. Method used to exam mispricing problem of Black-Scholes model About Mixlognormal: The probability distribution of the stock price might be made up of a mixture of two lognormal distributions, one for the possibility of an increase in share price and the other one of a decrease. In this way, we can capture the empirical distribution of stock price; its shape must be more accurate and accordingly more likely to be the same as the distribution of the companys share price in the real world. (Precisely, if we can employ more lognormal distributions to obtain the possibility for the movement of share price, we would get better distribution to describe real world.) Therefore, we could simply test the accuracy of Black-Scholes model by comparison. About Data: We chose Six Continents as our target company to do our analysis and made a comparison between its mixlognormal distribution and Black-Scholes lognormal distribution. We chose Feb 19th as the big event date for the company, because there was a takeover bid from the management of Pizza Express on that day. The share price of Six Continents jumped more than 10% on Feb 19th and the trading volume increased more than 200%. The dates before and after the big event date are Feb 18th and Feb 20th respectively. Following this way, the mispricing drawback of Black-Scholes might be detected more easily due to the noise of big event. Interpretation of the results Using the Excel VBA programme, we got the Black- Scholes lognormal distribution and mixlognormal distribution for these two particular days. The lognormal distribution of Black-Scholes is shown in blue and the mixlognormal distribution is shown in pink. Figure 1 Mixlognormal distribution and lognormal distribution for Six Continent options on 18th, Feb 2003. Figure 2 (Figure 1 and 2 are consistent with each other. Both illustrate the option is mispriced by Black-Scholes.) Comparing these two distributions (i.e. figure 1) of the date of Feb 18th, we find that: 1, the mixlognormal distribution has a fatter left tail and thinner right tail than the lognormal distribution (This phenomenon is also supported by empirical evidence when some people analysed the S;P 500 index), and 2. Both sides of the tails in mixlognormal distribution are longer as well. 3. The right tail is longer than the left tail. For the first finding, it means that in the more accurate scenario, the volatility used to price a low strike price option (i.e. a deep-out-of-the-money put or a deep-in-the-money call) is higher than that used to price a high-strike-price-option (i.e. a deep-in -the-money put or a deep-out-of-the-money call). The second finding means that the Black-Scholes lognormal distribution chops some small probability events, but in fact, these small probability events do exist in real world. The explanation of the third finding is that the bid proposal for Six Continent leaked before the announcement date. Investors have taken the probability of takeover into consideration and predict the price will go up. The probability of the share price going up is bigger than the probability of its going down, the right tail is longer. Figure 3 Mixlognormal distribution and lognormal distribution for Six Continent options on 18th, Feb 2003. Figure 4 Comparing the mixlognormal figure with the lognormal one (i.e. figure 3) of the date of Feb 20th, we find that: 1. This relationship of the two distributions is similar to those of the date of Feb 18th. 2. The left tail is still a little bit fatter and the right side a little thinner in the mixlognormal than that of lognormal. 3. The right tail is longer than of the left tail. The interpretations of this figure are the same to the above ones. From the above comparison and analysis, we can find the reason that Black-Scholes model is often shown to misprice out-of -the money and in-the-money options relative to their at-the-money counterparts: the assumption, which states that future stock price have a lognormal distribution and equivalently future returns have a normal distribution (which both results from the assumption of stock prices following a geometric Brownian motion.), is invalid. If this assumption is neglected, the risk neutral probability density does not necessarily fall into the family of lognormal distributions but can be shaped differently. This implies, that lognormal parametric estimation of risk-neutral probabilities leads to wrong result. When we move the two mixlognormal distributions (i.e. figure 6) together and also the two Black-Scholes distributions (i.e. figure 5) together, it is obvious to find that beside the mean of the share price moving to high level, the volatility shape changes a little. The left tail of figure before the big event dates is much fatter than the left tail of the figure after the big event date. Figure 5 Lognormal distributions of Six Continent options on 18th and 20th of Feb 2003. Figure 6 Mixlognormal distribution of Six Continent options on 18th and 20th of Feb 2003. This is understandable if we accept the explanation for the volatility smile when concerns leverage. It says that as a companys share price declines in the value, the companys leverage increases. Thus the equity of the company becomes more risky and its volatility increases. When the companys share price increases, leverage decreases, then the equity become less risky and its volatility decreases. Since the bid for the Six Continents was accepted as favourable news for the shareholders, the share price had a big jump. According to the above explanation, its shares become less risky and thus lower volatility, so the left tail becomes thinner. Conclusion We estimated risk neutral density of equity option prices and compared mixlognormal distribution and lognormal distribution before and after big event. We found that the assumption (stock prices are log-normally distributed) of Black-Scholes does not hold in the real world and this hole can make the options mispriced. Appendix 1: The raw data of lognormal distribution for Six Continent options on 18th, Feb 2003. Trade 18-Feb-03 Maturity 16-Apr-03 r 0 T 0.1561644 F 554.5 sigma 0.4091905 mkt call strikes BS theory Sq Error moneyness weigted sq error 196 360 194.58 2.01 194.5000 0.0103 166.5 390 164.89 2.59 164.5000 0.0157 138 420 135.86 4.57 134.5000 0.034 101.5 460 99.5 3.98 94.5000 0.0421 69 500 67.93 1.14 54.5000 0.0211 38 550 37.88 0.01 4.5000 0.0032 17.5 600 18.77 1.62 45.5000 0.0356 7 650 8.34 1.8 95.5000 0.0188 2.5 700 3.36 0.75 145.5000 0.0051 1 750 1.25 0.06 195.5000 0.0003 0.5 800 0.43 0 245.5000 0 18.53 0.1862 Appendix 2: The raw data of lognormal distribution for Six Continent options on 20th, Feb, 2003. Trade 37672 Maturity 37727 r 0 T 0.15068493 F 615.5 sigma 0.36813434 mkt call strikes BS theory Sq Error moneyness weigted sq error 256.5 360 255.5013903 0.997221354 255.5 0.003903019 227 390 225.5132704 2.210364876 225.5 0.009802062 197 420 195.5835263 2.006397745 195.5 0.010262904 157.5 460 156.0819138 2.010968563 155.5 0.012932274 119.5 500 118.0715084 2.040588233 115.5 0.017667431 76.5 550 75.70383997 0.633870793 65.5 0.009677417 42.5 600 42.91727918 0.174121912 15.5 0.011233672 21 650 21.38061239 0.144865789 34.5 0.004199008 9 700 9.401761762 0.161412513 84.5 0.001910207 3.5 750 3.688784898 0.035639738 134.5 0.000264979 1 800 1.308782808 0.095346823 184.5 0.000516785 0.5 850 0.425705755 0.005519635 234.5 2.35379E-05 10.51631797 0.082393295 Appendix 3: The raw data of mixlognormal distribution for Six Continent options on 18th, Feb, 2003. Trade 18-Feb-03 Maturity 16-Apr-03 r 0 T 0.1561644 F 554.5 F1 613.42684 sigm1 0.0050015 F2 545.13413 sigma2 0.4331614 p 0.1371431 Cmarket X Cimplied (Cmarket-Cimplied)^2 Implied sigma by BS 196 360 194.6650299 1.782145105 0.605651935 166.5 390 165.1475618 1.82908915 0.53766516 138 420 136.4577704 2.378472184 0.502173454 101.5 460 100.7421585 0.574323782 0.454991983 69 500 69.60810609 0.369793012 0.424942163 38 550 38.86792249 0.753289445 0.410555737 17.5 600 17.00376787 0.246246324 0.393289282 7 650 6.928636732 0.005092716 0.38547187 2.5 700 2.914632833 0.171920386 0.382378979 1 750 1.14301875 0.020454363 0.394114927 0.5 800 0.422795028 0.005960608 0.417111769 8.136787075 Appendix 4: The raw data of mixlognormal distribution for Six Continent options on 20th, Feb 2003 Trade 20-Feb-03 Maturity 16-Apr-03 r 0 T 0.1506849 F 615.5 F1 631.64945 sigm1 0.005 F2 613.47651 sigma2 0.3942533 p 0.1113462 Cmarket X Cimplied (Cmarket-Cimplied)^2 Implied sigma by BS 256.5 360 255.5039835 0.992048772 0.684121728 227 390 255.5291768 2.163320768 0.634591317 197 420 195.6487533 1.825867624 0.544725925 157.5 460 156.3364319 1.353890697 0.457835271 119.5 500 118.6654525 0.696469529 0.411053745 76.5 550 76.50974266 9.49E-05 0.380098628 42.5 600 42.7445391 0.059799374 0.363618501 21 650 20.42471433 0.330953606 0.363939585 9 700 9.572591543 0.327861075 0.362150688 3.5 750 4.077689599 0.333725272 0.363395708 1 800 1.597153827 0.356592693 0.351554917 0.5 850 0.581926491 0.00671195 0.376206304 8.447336279

Battle of the Falaise Pocket - World War II

Battle of the Falaise Pocket - World War II The Battle of the Falaise Pocket was fought August 12-21, 1944, during World War II (1939-1944). Following the Allied landings in Normandy in June 1944 and the subsequent breakout from the beachhead, German forces in the region soon found themselves in nearly encircled in a pocket south of Falaise. Over the course of several days, German troops conducted desperate counterattacks to breakout to the east. While some succeeded in escaping, they often did so at the cost of their heavy equipment. Around 40,000-50,000 Germans were captured by the Allies. With the collapse of the German position in Normandy, Allied forces were able to race east and liberate Paris. Background Landing in Normandy on June 6, 1944, Allied troops fought their way ashore and spent the next several weeks working to consolidate their position and expand the beachhead. This saw the forces of Lieutenant General Omar Bradleys First U.S. Army push west and secure the Cotentin Peninsula and Cherbourg while the British Second and First Canadian Armies engaged in a protracted battle for the city of Caen. It was Field Marshal Bernard Montgomerys, the overall Allied ground commander, hope to draw the bulk of German strength to the eastern end of the beachhead to aid in facilitating a breakout by Bradley. On July 25, American forces launched Operation Cobra which shattered the German lines at St. Lo. Driving south and west, Bradley made rapid gains against increasingly light resistance (Map). Lt. Gen. Omar Bradley (center) with Lt. General George S. Patton (left) and General Sir Bernard Montgomery (right) at 21st Army Group HQ, Normandy, 7 July 1944. Public Domain On August 1, the Third US Army, led by Lieutenant General George Patton, was activated while Bradley ascended to lead the newly-created 12th Army Group. Exploiting the breakthrough, Pattons men swept through Brittany before turning back east. Tasked with rescuing the situation, the commander of Army Group B, Field Marshal Gunther von Kluge, received orders from Adolf Hitler instructing him to mount a counterattack between Mortain and Avranches with the goal of reclaiming the western shore of the Cotentin Peninsula. Though von Kluges commanders warned that their battered formations were incapable of offensive action,Operation Là ¼ttich commenced on August 7 with four divisions attacking near Mortain. Warned by Ultra radio intercepts, Allied forces effectively defeated the German thrust within a day. Battle of the Falaise Pocket Conflict: World War II (1939-1945)Dates: August 12-21, 1944Armies and Commanders:AlliesField Marshal Bernard MontgomeryLieutenant General Omar Bradleygrowing to 17 divisionsGermanyField Marshal Gunther von KlugeField Marshal Walter Model14-15 divisions An Opportunity Develops With the Germans failing in the west, the Canadians launched Operation Totalize on August 7/8 which saw them drive south from Caen towards the hills above Falaise. This action increasingly led to von Kluges men being in a salient with the Canadians to the north, British Second Army to the northwest, First U.S. Army to the west, and Patton to the south. Seeing an opportunity, discussions ensued between the Supreme Allied Commander, General Dwight D. Eisenhower, Montgomery, Bradley, and Patton regarding enveloping the Germans. While Montgomery and Patton favored a long envelopment by advancing east, Eisenhower and Bradley supported a shorter plan designed to surround the enemy at Argentan. Assessing the situation, Eisenhower directed that Allied troops pursue the second option. British forces advance during Operation Totalize, 1944.   Public Domain Driving towards Argentan, Pattons men captured Alenà §on on August 12 and disrupted plans for a German counterattack. Pressing on, the lead elements of Third Army reached positions overlooking Argentan the next day but were ordered to withdraw slightly by Bradley who directed them to concentrate for an offensive in a different direction. Though he protested, Patton complied with the order. To the north, the Canadians launched Operation Tractable on August 14 which saw them and the 1st Polish Armored Division slowly advance southeast towards Falaise and Trun. While the former was captured, a breakthrough to the latter was prevented by intense German resistance. On August 16, von Kluge refused another order from Hitler calling for a counterattack and secured permission to withdraw from the closing trap. The next day, Hitler elected to sack von Kluge and replaced him with Field Marshal Walter Model (Map). Closing the Gap Assessing the deteriorating situation, Model ordered the 7th Army and 5th Panzer Army to retreat from the pocket around Falaise while using the remnants of the II SS Panzer Corps and XLVII Panzer Corps to keep the escape route open. On August 18, the Canadians captured Trun while the 1st Polish Armored made a wide sweep southeast to unite with the US 90th Infantry Division (Third Army) and French 2nd Armored Division at Chambois. Though a tenuous linkup was made on the evening of the 19th, the afternoon had seen a German attack from inside the pocket breakthrough the Canadians at St. Lambert and briefly open an escape route east. This was closed at nightfall and elements of the 1st Polish Armored established themselves on Hill 262 (Mount Ormel Ridge) (Map). German troops surrendering near German forces surrendering in Saint-Lambert-sur-Dive on August 21, 1944. Library and Archives Canada On August 20, Model ordered large-scale attacks against the Polish position. Striking through the morning, they succeeded in opening a corridor but could not dislodge the Poles from the Hill 262. Though the Poles directed artillery fire on the corridor, around 10,000 Germans escaped. Subsequent German assaults on the hill failed. The next day saw Model continue to hit at Hill 262 but without success. Later on the 21st, the Poles were reinforced by the Canadian Grenadier Guards. Additional Allied forces arrived and that evening saw the gap closed and the Falaise Pocket sealed. Aftermath Casualty numbers for the Battle of Falaise Pocket are not known with certainty. Most estimate German losses as 10,000–15,000 killed, 40,000–50,000 taken prisoner, and 20,000–50,000 escaped east. Those that succeeded in escaping generally did so without the bulk of their heavy equipment. Re-armed and re-organized, these troops later faced the Allied advances in the Netherlands and Germany. Though a stunning victory for the Allies, debate quickly ensued regarding whether a greater number of Germans should have been trapped. American commanders later blamed Montgomery for failing to move with greater speed to close the gap while Patton insisted that had he been allowed to continue his advance he would have been able to seal the pocket himself. Bradley later commented that had Patton been permitted to continue, he would not have had sufficient forces in place to block a German breakout attempt. Following the battle, Allied forces quickly advanced across France and liberated Paris on August 25. Five days later, the last German troops were pushed back across the Seine. Arriving on September 1, Eisenhower took direct control of the Allied effort in northwest Europe. Shortly thereafter, Montgomery and Bradleys commands were augmented by forces arriving from the Operation Dragoon landings in southern France. Operating on the unified front, Eisenhower moved forward with the final campaigns to defeat Germany.

Application 2 lesson planning Essay Example | Topics and Well Written Essays - 1000 words

Application 2 lesson planning - Essay Example e course including the concepts will be taught) and the simulations laboratories (where the students will be able to practice what they have learnt theoretically). These two contexts will test whether they can perform the oral administration when it comes to real life situations where they are handling patients. The objectives for this lesson are for the students to show a positive attitude to the patients during drug administration and the other is for the students to recognize the difference in patient’s condition, age and doctors’ instructions during drug administration. The objective is important because it is basic knowledge required by all students of nursing (Bastable, 2008). In any course, there are different types of leaners. There are three different types of learners I am likely to meet during this course are: slow learners, those who have had prior knowledge about a few concepts in this course and students from different countries who have different cultural beliefs. The slow learners will make the whole class lag behind because they might keep on asking questions in order to understand a concept that the rest of the class has already understood. If consideration is not made for them, they might fail the course. I will acknowledge such students by teaching slowly or offer them tutorials to ensure they are on the same level of understanding with the rest of the class. For those with prior knowledge, it will be like a refresher for the concepts. I will need to understand the culture of each student in order to facilitate their teaching. The most effective and appropriate teaching strategy is brainstorming as it keeps students on their toes about what has been discussed previously and also ensures that students always link what they are being taught currently with the previous knowledge for better understanding of the course. Brainstorming also ensures that learning is more student-centered as the teacher just initiates the discussion and students

The hunger game (movie) Essay Example | Topics and Well Written Essays - 1000 words

The hunger game (movie) - Essay Example Here are some of the vivid concepts integrated into the movie film. The first includes social acceptance of engaging youth and minors into actual life battles that at some point may also cause their lives. However, this portrayal is not limited to what is happening in the imaginary society of Panem. In the actual world, life’s battle may not be a form of entertainment, but it is a reality for some people, most particularly to the victims and culprits of some relevant crimes. Consider for instance the contemporary war against child prostitution or human trafficking across the world. This is a reality that is placing the future of some minors in jeopardy. It may even distort their normal view of life in a not so distant future. This point may show that the actual child prostitution may not physically kill minors or children at certain level, but the actual idea involved in it is that it includes killing some important aspects in their individual lives. Trading children for sex i s simply considered illegal in contemporary time because of the associated international law that would stand against it to cut its detrimental perpetuation. The unethical implications associated with it is therefore remarkable because of the moral standard set by the government to be integrated in the actual law for ensuring the safety and protection of minors or children. However, despite this government control to protect the welfare of the child as citizen, the ongoing crimes associated with sexual exploitation including minors as primary subjects persist, and even the relevant number of incidence is moving to an upward spiral. Latest statistics reveals more minors are currently involved in sex trade and pornographic activities based on increase hotline calls of victims (National Human Trafficking Resource Center 5). The existence of media and internet increases or motivates the speed of online pornography involving minors. Thus, the televised fight-to-the-death featured in â₠¬Å"The Hunger Games† for instance is a relevant depiction of the actual struggles of some minors particularly those who might have active involvement in online pornography or other related illegal activities. Just as the subjects of televised fight-to-the-death in Panem may have lost their freedom to take hold of preserving their lives, these minors involved in some online or media-related crimes are actually experiencing the same level of struggle to fight for their right to live with a high quality of life founded by safety and protection against exploitations as promised by the government for its people, including the young citizens. Here is another point. The movie may also showcase a hidden message concerning the level of vulnerability of the adult population to provide weak direction for the welfare of the young people while exposing them to the peril of violence that we normally found reported with utmost controversy on the media. Like the nation of Panem that vividly s ees the actual violence through a televised-fight-to-the-death Hunger Games, the world today has never been so blind seeing and hearing the actual crimes committed by minors and young people alike through controversial news coverage in the media. Just let us take for instance the latest case we heard from the media concerning minors molesting another minor (The New York Times). The media informed us of the actual violen

Types Of TV Watchers Essay Example for Free

Types Of TV Watchers Essay Television has evolved – we are now seeing more of special effects, fantasy elements, hard-core drama in specialized environments like hospitals or public schools compared to the traditional soap opera with assembled set backdrops. In this globalizing world, television has to compete not only in their own countries for market share, but across the globe. Their efforts are not for naught, because it had spawned a generation of TV watchers of all ages. Briefly, a TV watcher is a person who watches TV for any of the following reasons: for information, entertainment, or out of habit. Generally following this guideline, there are three kinds of TV watchers: the information-driven TV watcher, the entertainment-freak, and the TV-phile.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Information-driven TV watchers turn on their television sets to watch the news. At what end of the spectrum, conservative information-driven TV watchers tune in to local news to have an idea of current events, and at other extreme they tune in to CNN and BBC to keep abreast of the latest developments in the political and economic aspects of the world, or to National Geographic and Discovery Channel if they are into Nature than Politics. The key is they watch TV for the sole purpose of acquiring information in the areas that are relevant to their lives. In contrast, the entertainment-freak TV watchers sit in front of their TVs for the sole purpose of accruing pleasure from the activity. These TV watchers want to be entertained – generally they do not want to be bothered with the universal existential questions that have plagued humanity from the beginning of time, they just want to plop down the couch and relax after a day’s work. These are people who watch soaps like Desperate Housewives and House, fantasy-action like Heroes and Lost, and comedies like Ugly Betty. Entertainment-freak TV watchers watch TV for the leisure of it.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Finally, TV-philes are people who turn on the TV because it gives them a different sense of comfort. They function well with the sound of TV in the background as they go about their chores, occasionally glancing to keep up with what is being aired. They watch TV even when there is nothing good on, because they do not have anything else to do. They stay up late for the late night movie specials, they know the program schedules by heart, and they can give lectures on the new trends in television programming. These are the people who tune in to MTV 24/7, or to HBO the whole day.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Of course, this is only a rough guide of TV watchers, and there are hybrids and types in between. An important thing to remember is that a real TV watcher knows when to open the TV and for what purpose.

Winston Churchill: The Great Communicator :: Winston Churchill Essays

Winston Churchill was perhaps one of the greatest public speakers in history. Some of the best speeches have come from being in life or death situations, Winston was known best for this. His small sound clips like, â€Å"this was their finest hour†, and â€Å"this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning†, encourage his troops and his people that they will win this war and will overcome the greatest odds. Although Churchill told many speeches, his speech on June 18, 1940 showed the most emotion and courage of any other speech he told. In this speech he explained that the war in France is over and the war in Britain would begin. He said that if we fail then the world sink into an abyss. This emotion that he shows would give Britain hope, courage and most of all determination. Winston Churchill spoke these words at the House Commons; his way of talking to people was a power which he held. Winston Churchill was born November, 30 1874, in Blenheim Palace. He was born into a wealthy family who treated Winston to a rich lifestyle. In 1893 Churchill entered the Royal Military College as a cadet, from here on he rose to the top ranks commanded with great authority. He began to have political speeches at the age of 23 when he talked to the primrose League. When he was 24 he wrote his first book entitled The Story of the Malakand Field Force. Churchill was elected to the House of Commons at the age of 26, being one of the youngest members. Winston was appointed Prime Minister of England on May 10th 1940. Winston’s 2 books that were published shows people that he is a respectable author who people can believe what he says during his speeches. In this speech Winston was talking to the members of the House of Commons, but this speech was m ore than trying to persuade elected officials, it was intended to speak to all people fighting against the Nazi Party. The purpose of this speech was to show the members of Commons that we must fight in this war and we must win, for if England shall lose the rest of the world would lose.

Faust and Job Essay

While he was yet speaking , there came also another, and said, The fire of God is fallen from heaven, and hath burned up the sheep, and the servants, and consumed them; and I only am escaped alone to tell thee† (Bridge Builder’s Bible, Job. 1.12-16). Job loses his possessions, his children,and he suffers health wise. He becomes very ill, but no matter what life brought him he still remained faithful to God. Job could have easily given in as Faust did. In this life we have choices to make whether they be good or evil. We must suffer the consequences for every wrong deed we choose. It takes a strong will power to be determined to do right like Job. Faust believes there is a narrow limitation on the world in which he have been living until he interacts with Mephistopheles. Faust feels he knows enough about philosophy and heros of old legends. He now recalls for a divine law that proves that this action is the ruling force of the universe. This pact deal that was made was set up to fail Faust. Faust did not believe in a heaven or hell, which means he is betting his life rather than selling his soul. In Faust’s mind he is not sure if a eternal life even exists. If he gave up the world that he was living in he really felt that he would be just giving up something that dissatisfied him any way. Faust’s desires is not so much an evil one, but the idea that he has made this pact deal with the devil brings on many concerns about this decision he has made. The devil is unsure of his own ability to fulfill all the request that Faust made to him. However, the devil accepts these challenges and make sure the pact deal is signed in blood. Faust is very eager at this point to taste all the aspects of life that he thinks he have neglected. Although at first Faust rejects the offers made by Mephistopheles, he still ends up given in to this temptation. Faust should have kept his belief when saying, â€Å"the world’s pleasures cannot end his doubts or satisfy his needs† (Cliffnotes:Faust study iii). Faust is being taking advantaged of because Mephistopheles knows Faust’s weaknesses. He knows that Faust is striving to understand the universe and his place in it, while Mephistopheles has something totally different in mind from Faust. Faust just happened to be at the crossroads in his life. He was a very well-esteemed man and an intelligent scholar who was highly looked on. The book of Faust came out during the eighteenth centuries, so attitudes then may have had an impact on how people, in particular Goethe may have viewed life. During that time attitudes were focused more toward earthly life and beyond. Looking at Faust attitude compared to Job’s, I see that Job was strong while Faust was weak. I find them to be different from each other just by viewing who gave in to this trick. It is plain to see that Faust gave in and Job stood his ground. It means a whole lot when someone can stand their grounds and not be moved by nothing in this world. Job’s world was in turmoil, but this did not interfere with his faith nor the confidence he had. Satan was concerned with getting souls that he can keep for eternity. He used any tactics he could to seduce Faust. The Devil offered earthly things to blindfold Faust. The Lord did let Mephistopheles know that when he grants him permission to engage in Faust’s life, Faust will be fully aware of the righteous path, whether he chooses it or not. I believe at this point Faust is beginning to see Mephistopheles for who he really is. I had came to this conclusion personally when I read these lines: â€Å"Your real being no less than your fame Is often shown, sirs, by your name, Which is not hard to analyze When one calls you the Liar, Destroyer, God of Flies. Enough, who are you then? Part of that force which would Do evil evermore, and yet creates the good. What is it that this puzzle indicates? I am the spirit that negates. And rightly so, for all that comes to be Deserves to perish wretchedly;’Twere better nothing would begin. Thus everything that your terms, sin, Destruction, evil represent- That is my proper element. You call yourself a part, yet whole make your debut† (Goethe 705)? Mephistopheles was a smooth talking and slick which reminds me of Satan himself. Job at some point in his life wished he had never been born. How can anyone fault Job for feeling the way he did after going through these horrible storms in his life. He had to face these mountains and conquer his fears. I do understand Job was human, so he had a right to feel saddened or possibly even lonely. Faust longs to find something absolutely enduring so that he can end his alienation. He rather ignore reality just to have pleasures fulfilled for a few years rather than having something that will please him forever. Faust understands life, but he wants to dig deeper into the truth about supernatural things. In return for his search on this he turns to magic which leads him to making this pact deal with the devil in the first place. Satan plan he had for Job did not work as God said. Mephistopheles tries to criticize God by saying he made an imperfect world. However, he did help God carry out his will through using this pact deal with Faust. Satan main goal and purpose is to defeat God by taking over every soul. It is evidently true just reading: â€Å"And in return, what do you hope to take? There’s so much time so who insist? No, no! The Devil is an egoist And would not just for heaven’s sake Turn into a philanthropist. Make your conditions very clear; Where such a servant lives, danger is near† (Goethe 711). It is obvious that Mephistopheles is not on Faust side. Once he get him right where he wants him he is going to surely take his life. What good can come from someone when they encourage another human being to take their life. No friend would want to see you die. I consider that to be for someone who hates you and they must be cold-hearted. One comes to know good by knowing evil. A person can not come to know God without knowing this knowledge. True knowledge is gotten only from experience. Just like the Devil Mephistopheles often speaks the truth to get what he wants. Faust wanted much and he was never satisfied so greed began to take over his life. Job was satisfied with what God had given him and that is how he was able to stand on the word of God. He return for Job’s pain God restored to him everything that he had lost. He gave him back more than what he had before. Faust struggle with self worth causes him to have an inability to have faith in God. However, God does not give up on Faust. Believe it or not God gives us many chances in this world today because he has not given up on us either. God knew Faust struggled, but he allowed him to reach his low point in order to draw him back. Mephistopheles duty was to lead Faust down a dark road. If Satan could have done the same thing to Job he would have, but Job was too strong for him. Therfore, Satan fault a loosing battle with Job. In the process Faust is responsible for three deaths in this story, although he was influenced by Mephistopheles. God has given us the spirit of unlimited belief.The battle really begins in our mind. It is our will and emotions that control what we do or think. We must stop limiting God by the level of our faith or belief. He is and will always be the God of the impossible. People must demand that Satan leave them alone and not just ask this. It is good to know that by the power of the holy spirit we have authority over Satan to tell him what to do. Satan must be put in his place. Satan is a great pretender, so don’t be deceived by his fierce growl. I am encouraged knowing this scriptures, â€Å"and put on the whole armor of God so that ye shall be able to quench all the fiery darts of the wicked† (Bridge Builder’s Bible, Ephesians6.11-18). After being tested it feels good to know t hat someone passed their test and did not fail. I must be strong myself and not get caught up in the crossroads of my own life. People must have faith in order to make it in this world. Nothing can compare to what God has to offer us in heaven. God is amazing and he is the almighty whom we must answer to. It is great to have Job like attitude and not Faust attitude towards life. I encourage people to be strong in the Lord, having much faith. Works Cited Johann Wolfgang von Goethe. Faust. New York:W.W Norton &Company, 1984. Lawall, Sarah, ed. The Norton Anthology of world literature .London: Castle House, 1909. Rod Parsley. Bridge Builder’s Bible. Deerfield: International Christian Publishers, 1997. Cliffs Notes -The Fastest Way to Learn. Wiley Publishing, Inc. 2000-2010 Faust, Parts 1 and 2. 11 November 2010 .

Compare How Duffy and Armitage Write About Violence in Salome and Hitcher Essay

‘Salome’ and ‘Hitcher’ both use a first person persona and with that, give us insight into their feelings and the theme of violence throughout both poems. In ‘Salome’, Duffy’s character uses a nonchalant tone with no remorse when depicting her actions, which is also present in ‘Hitcher’ too. Salome had ‘done it before’ and will ‘doubtless do it again’ but is oblivious of the repercussions of what she has just stated. She is a promiscuous character and is unaware of what she has done until the last stanza, whereas the narrator in ‘Hitcher’ is fully conscious of his actions. He ‘lets him have it’ and is proud of his actions and his ability to not swerve while attacking the hitchhiker. His colloquial manner represents that he sees it as an entertaining story and how he is unaffected by his actions. Near to the conclusion of ‘Salome’ she decides to clean up her act, becomes repentant of how she has behaved. In comparison, Hitcher just drives away from the body and is ignorant as to his fate; he does not care if he’s alive; he just ‘lets him out’. His casual description of how the body bounces and disappears questions his mental stability and his possession of a conscience. Salome also defends herself, describing the man as a ‘beater or biter’, proposing that she reacted in self-defence although she could also be referring to herself. The plosive ‘b’ also portrays the violence involved with those words. At the end of ‘Hitcher’, the concluding couplet is sarcastic and ironic, seeing as the intended recipient is no longer with him. He recalls thinking ‘Stitch that’ as if the hitchhiker got what he deserved. To him, it’s a joke. Similarly, Salome states ‘ain’t life a bitch’, which is also ironic, as the person she is speaking to is dead. She doesn’t care; he could be any old Simon Andrew or John. Hitcher’s reference to the weather is normal, which shows how his behaviour hasn’t impacted him; the murder was the therapy for his anger as his outlook is now pleasant. The fact that he and the hitchhiker were of the same age wasn’t of particular consequence to him, they both had the same opportunities, yet vastly different paths. The mention of this shows how he can crack at and given moment, and his attention for the inconsequential. Salome’s therapy for her hangover was her maid’s ‘innocent clatter’, so unlike Hitcher’s methods. The fact that Salome calls her maid ‘innocent’ shows how naà ¯ve and unknowing she is about Salome. She’s Salome’s opposite. The rhythmic repetition of the ‘er’ sound emulates the sound of her footsteps which soothes Salome after her night on the ‘batter’. This shows the violence which ensued last night and all the aggression, as well as inverting the female stereotype or passiveness.

Astronomy essays

Astronomy essays #1) (A) Issac Newtons Law of Universal Gravitation is: Two bodies attracted to each other with a force that is directly proportional to the product of their masses and inversely proportional to the square of the distance between them. This means that the further apart these two attracting bodies are from each other, the less the gravitational force between them is. The force of gravity depends on the product of the mass of the two attracting bodies. If the distance between the two bodies doubles, the force between them becomes one quarter of the force it was before. The Law of Universal Gravitation is vital because it mathematically proves Keplers Three Laws of Planetary Motion. The Planets follow the same laws of motion as objects on the surface of the earth. (B) Newton discovered other types of orbits that have circular of elliptical paths. However, if the velocity of an orbiting body were increased, its orbital path would change to a parabola or hyperbola and it would escape the gravitational pull of the sun. It would then leave the solar system. Parabolas are the orbital paths of objects in the form of an open curve. If one cuts out an angle in a circular cone, it would follow this path parallel to the sides of the cone. Hyperbolas occur when a plane cuts across two parallels half-cones. Keplers laws applies to any situation where two bodies in the universe orbit each other due to their mutual gravitational attraction, not just two planets. For example: Moons that orbit planets, such as the four Galilean Moons that orbit Jupiter. #2)(A) The reflecting telescope, which uses a mirror to attract light was perfected by Isaac Newton in 1668 although it was developed by John Gregory in 1663. The refracting telescope, which uses a lens to attract light was developed by a Dutch optician in 1608 named Hans Lippershey. Two other inventors were Zacharias Jannssen and Jacob Metius. However, Galil...

Case Study on the Murder of Bridgett Frisbie

Case Study on the Murder of Bridgett Frisbie Bridgett Frisbie was 17 years old and  in her junior year at Raines High School in Katy, Texas, when she was lured into a wooded area in northwest Harris County and murdered by a close friend and schoolmate. According to authorities, near midnight on April 3, 2011, Bridgett Frisbie snuck out of her house to meet up with friends and was walking down the street when she was spotted by Alan Perez and Alex Olivieri who were out looking for her in Olivieris Chevrolet Suburban. The two men had preplanned to rough her (Frisbie) up that night and had prepared accordingly. Both the men were armed with pistols and Perez was dressed in all black and had a black face mask. When the men spotted Frisbie, Perez hid in the back seat of the car under a pile of blankets, as per their plan. A Threat to His Future Frisbie and Olivieri were good friends, so she had no reason not to accept a ride from him that night. Prosecutors believe that she did not realize the degree of anger Olivieri felt towards her because of a previous incident she had witnessed and was talking about with friends at school. Some weeks before, as a favor to Frisbie, Olivieri allegedly did a drive-by shooting at her ex-boyfriend’s house with his Yugo semiautomatic rifle. According to Perez, Olivieri told him that Frisbie was driving while he sprayed her ex-boyfriends home with bullets. He said Olivieri was worried that, if he was arrested for the shooting, it would hurt his future plans of having a career in the Army. The Murder With Frisbie in the Suburban and Perez hiding undetected in the back seat, Olivieri drove to a wooded area under the false pretense of needing to get something he had buried. Carrying a shovel, he and Frisbie walked into the woods. Perez followed the two from a distance and watched as Olivieri placed his hand on Frisbies back, then he pulled out his gun and  shot her in the back of the neck, killing her instantly. At around 3 a.m. Perez and Olivieri drove to downtown Houston to pick up Frisbies boyfriend, Zacharia Richards, from the Greyhound bus station. According to Perez, meeting Richards in Houston was going to part of the pairs alibi if questioned. On April 3, 2011, the body of Bridgette Frisbee was discovered in the wooded area by a group of children who were out riding dirt bikes. A search of the area turned up one 9 mm shell casing in the vicinity of Frisbies body. When the news of the murder was released, Olivieri text-messaged Perez and pretended to be informing him that their friend had been found dead. Confession for Immunity A few days after the discovery of Frisbies body, Perez, through an attorney, contacted police in regards to information that he had about the murder. Once he was  granted immunity  from prosecution, Perez confessed to what he knew about the murder, including fingering Olivieri as the triggerman. Perez later testified in court that the plan was to rough up Frisbie, but that he did not know of Olivieris plan to murder her and, after the shooting, the two exchanged heated words in the woods. Perez told the court, He came running at me, and I was in shock because he shot her. He described Olivieris attitude after murdering his long-time friend as unrepentant and that he showed no signs of remorse. Perez also admitted to following Olivieris instructions that night, to dress in dark clothing and a full face mask, to bring a firearm, and to hide under a stack of blankets in the back of the Chevrolet Suburban. Alexander Olivieri was found guilty of first-degree murder and was sentenced to 60 years in prison. It took the jury just under four hours to decide on Olivieris sentence. Bridgette Frisbie Bridgetts father Bob Frisbie, who adopted her when she was a toddler, described his daughter as being sometimes rebellious, but that she had  been through a lot in her short life, including the loss of her adoptive mother due to illness. He said that what he saw when he looked at his daughter was a fun-spirited 17-year-old who loved poetry and drawing and was a loving daughter. Olivieris Appeal Olivieris sentence was appealed due to three issues, outlined below from court papers filed by his defense attorneys: Issue One:  The trial court committed reversible error in denying defense counsels request to instruct the jury that Alan Perez was an accomplice witness as a matter of law. According to his attorney, by Perezs own testimony, he had entered into a conspiracy to commit a felony, which resulted in the complainants death. If Perezs testimony is taken as true, then there is no question he engaged in criminal conduct for which he could have been charged had he not been granted immunity. Perez was, therefore, an accomplice as a matter of law. Issue Two:  Insufficient evidence was presented to corroborate the testimony of Alan Perez, an accomplice witness. Olivieris attorney argued that corroboration of an accomplice witnesss testimony requires evidence that tends to link the accused with the crime committed. None of the evidence presented at trial tends to link Olivieri to the murder of the complainant for purposes of corroborating Perezs testimony. Issue Three:  The consent to search provided to law enforcement by Samuel Olivieri was not given voluntarily and was therefore invalid. According to the appeal,  police did not have a warrant  to search the Suburban driven by Olivieri, despite prior knowledge gleaned from Perez that it may contain evidence. As a way around the warrant requirement, police sought and received the consent of Olivieri s father to search the vehicle. The consent by Olivieris father was involuntary, as he was not aware that he had a right to refuse to give consent, had been subjected to a coercive show of authority by law enforcement, and was operating with less than full mental faculties after being awoken at 2 a.m. by police. The Court of Appeals for the First District of Texas overruled the three arguments and voted to uphold the trial court’s judgment. Alex Olivieri is currently housed at the Connally (CY) Correctional Institution in  Kenedy, Texas. His projected release date is November 2071. He will be 79 years old.

Unit 1 Micro Assignment Example | Topics and Well Written Essays - 500 words

Unit 1 Micro - Assignment Example This will occur in any sector of the economy, ranging from rent controlled houses, to basic needs supplies, and to luxurious human wants. For the duration of President Bush administration, the administration had levied price floors, which market analysts claimed were below the floor. In contrast, they did not produce price ceilings. As the economy operates, price floors alone have the propensity of gratifying the wealthy societal members, and captivating from the poor the petite they have, and at times, taking from the poor what they do not basically have to give (Mankiw 2011). Imposing price ceilings may create shortages, because it may discourage production, because manufacturers won’t be in a position to determine the profit margin they require from given products. It’s evident that price ceilings and price floors are inter-linked. For government efficient intervention in the economy, it should formulate a plan to impose both price ceilings and floors concurrently. By doing so, both the consumers and producers will be affected, but in a weighted manner such that the general societal members, especially those with low income reaps the benefits. Government involvement in the economy is way too far. Its fascination with safeguarding health, security and convenience has complicated the workings of the economy. For instance, the directive from government to have all pools in community centers and hotels fortified with lifts to guarantee easy access for the incapacitated has hiked the costs of these lifts to $8,000 to $20,000. This is not good for business, and has predisposed some community centers and hotels to close their pools completely. In another case, New York Mayor Michael Bloomberg has endeavored to ban the sale of soft drinks in servings with a capacity over 16 iotas. He proposes to levy the ban within all city eateries, and in other formations such as movie theatres and sports arenas.