Tuesday, May 26, 2020

Moral Hazard Causing A Deadweight Social Loss Finance Essay - Free Essay Example

Sample details Pages: 7 Words: 2048 Downloads: 4 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? According to Kaminsky and Reinhart, 1999, there have been many currency crises during the post-war era. They can be classified as first-, second- or third-generation currency crisis. A currency crisis is an episode in which the exchange rate depreciates substantially during a short period of time. Don’t waste time! Our writers will create an original "Moral Hazard Causing A Deadweight Social Loss Finance Essay" essay for you Create order FIRST GENERATION CURRENCY CRISIS MODEL: Krugman (1979) and Flood and Garber (1984) models come under first generation models. It states that, traders speculate against fixed exchange rate in order to profit from an anticipated speculation. In first-generation models, the collapse of a fixed exchange rate regime is caused by unsustainable fiscal policy. A hallmark of first-generation models is that the government runs a persistent primary deficit. The key ingredients of a first-generation model are purchasing power parity (PPP), government budget constraint, timing of deficits, money demand function, governments rule for abandoning the fixed exchange rate and the post-crisis monetary policy. In first-generation models the government follows an exogenous rule to decide when to abandon the fixed exchange rate regime. This model suggests that- The crisis is due to the poor government policy. The source of the upward trend in the shadow exchange rate is given by the increase i n domestic credit. Even though the crisis is sudden, it is a deterministic event: the crisis is inevitable given the policies and the timing is in principle predictable. These models are not harmful and it doesnt have effect on output. The crisis determination is a future policy stances that investors foresee, not the one observed in the past. The importance of policy choice in deciding to quit the fixed exchange rate regime. In fist generation models, there is no relation between capital flight and abandonment of the peg. There is no long-run equilibrium exchange rate. SECOND GENERATION CURRENCY CRISIS MODEL: These models are mainly based on the interactions between expectations, macro economic trade-offs and decisions. These are characterized by multiple equilibria and the interactions between market expectations and policy outcomes. In second-generation models the government maximizes an explicit objective function (Obstfeld, 1994). This maximization problem dictates if and when the government will abandon the fixed exchange rate regime. These differs from the first generation models in no irresponsible policy, no predictability of the crisis and there is no negative impact on employment and output if the country leaves the peg. 2. MORAL HAZARD Moral hazard is a situation where one party has more information(usually the party that is insulated from the risk) than the other in a transaction (usually the party paying for the negative consequences of the risk). It arises because an individual/institution does not take the full responsibilities of its doings and also from principal-agent problem. EXPANDED GOVERNMENT GUARANTEES FOR BANK LIABILITIES: A key element of policy crisis is the government provision of a financial safety net for financial institutions. So governments have felt obliged to go beyond the usual support measures, moving to expand existing guarantees and to introduce new ones. The valuation problems and other related actions like loss sharing arrangements for assets and capital injections were appeared to prevent further loss of confidence on the part of market participants by raising that the retail depositors and other creditors would continue to provide a stable source of funding for banks. It leads in reducing the threat of insolvency of these entities. By doing this, the government earns a small fee from the debt issuer for lending out its top credit rating like as financial guarantee insurance companies,. There are no further hidden costs associated with these measures. Even if guarantees do not generate significant upfront fiscal costs, they create large contingent fiscal liabilities, as well as other potential costs that may arise as a result of distortions of incentives and competition. Another important issue related to the additional guarantees is their pricing. In this respect, the potential distortions should be limited to the extent that government guarantees are priced appropriately. By contrast, distortions may arise because when guarantees are offered at prices that are substantially lower than market or some form of fair prices. WORKING OF CIRCULAR PROCESS IN REVERSE TO CAUSE ASSET PRICES COLLAPSES The mechanism of crisis involved that same circular proces s but in reverse: falling asset prices made the insolvency of intermediaries visible, forcing them to cease operations, leading to further asset deflation. This circularity explain both the remarkable severity of the crisis and the apparent vulnerability of the Asian economies to self-fulfilling crisis. The boom-bust cycle in Asian economies experienced in the investment and in asset prices. It showed that assets were in imperfectly elastic supply. In the first period, investors bid for fixed assets(land) and set their price. In the second period they receive rents, which are uncertain at the time of bidding. The intermediaries can bid on the land based not on the expected value of future rent but on the Pangloss value. So all assets will end up owned by intermediaries, and the price of the assets will be double what it would be in an undistorted economy. 3. MORAL HAZARD CAUSING A DEADWEIGHT SOCIAL LOSS Moral hazard is the lack of any incentive to guard against a risk when you are protected against it by the insurance is called moral hazard. It is the phenomenon of undertaking risky corrupt loans and transactions, but knowing that if it fails the state will pick up the tab. In the table 1, one yields $107 million; the other will yield $120 million in favourable conditions (good state), but only $80 million in unfavourable conditions(bad state). The good state and the bad state are equally likely, so that the expected returns on this risky investment are $100 million. But, the owner of the financial intermediary knows that while he can capture the excess returns in the good state, he can walk away from the losses in the bad state. So if he chooses the safe investment he gains a sure 7; but if he chooses the risky investment he gains 20 in the good state, loses nothing in the bad state, for an expected gain of 10. Thus his incentive is to choose the risky investment, even though it has a lower expected return. And this distortion of investment decisions produces a deadweight social loss: the expected net return on the invested capital falls from $7 million to zero. The globalization of trade and finance is changing international relationships at several levels of interaction like in the conduct of commercial activities, in relation to labour standards, the protection of physical environment and in other social and political issues. Both the captivity and the willingness of the parties who control financial capital to supply or withdraw capital from an economy quickly contribute to the rapid development as well as the severity of balance of payments and debt crisis for some economies. The process of globalization leads to an overall increase in the level of economic activity and everyone benefits from this process. The potential benefit of financial globalization will likely lead to a more financially interconnected world and a deeper degree of financial integration of developing countries with international financial markets. The main benefit of financial globalization for developing countries is the development of their financial system (Levine, 2001). There are two main channels through which financial globalization promotes financial development. First, financial globalization implies that a new type of capital and more capital is available to developing countries. Second, financial globalization leads to a better financial infrastructure, which mitigates information asymmetries and, as a consequence, reduces the problems such as adverse selection and moral hazard. 4,5, 6 7. DIFFERENCES BETWEEN THE EXPECTED VALUE OF LAND RENT AND ITS CORRESPONDING PENGLOSS VALUE There is a two period model to explain land value. In the first period, investors bid for land and setting its price. In the second period they receive rents, which are uncertain at the time of bidding. The financial intermediaries will be willing to bid on the land, based not on the expected value of future rent but on the Pangloss value. So all land will end up owned by intermediaries, and the price of land will be double what it would be in an undistorted economy. In an undistorted economy we can solve backwards for the price. The expected rent in period 3, and therefore the price of land purchased at the end of period 2, is 50. Therefore the expected return on land purchased in period 1 is = The expected rent in period 2 (50) + The expected price at which it can be sold (50), for a first-period price of 100. This is also the total expected rent over the two periods. Now suppose that intermediaries are in a position to borrow with guarantees. Again working backward, at the end of period 2 they will be willing to pay the Pangloss value of third-period rent, 100. In period 1, they will be willing to pay the most they could hope to realize off a piece of land: the Pangloss rent in period 2, plus the Pangloss price of land at the end of that period. So the price of land with intermediation in period 1 will be 200. It seems that the multi-period version of the model, in which part of the return to investment depends on the future prices of assets, makes no real difference to the distortion of those prices imposed by guaranteed intermediaries. However, this result changes in a dramatic way once we allow for the possibility of changes in the financial regime that is, if we believe that moral hazard may be a sometime thing. 8. KRUGMANS MODEL JUSTIFICATION ON OCUURANCE OF SELF-FULFILLING FINANCIAL CRISIS A key feature of a self-fulfilling crisis is the collective action of economic agents(Obstfeld, 1996 and Radelet and Sachs, 1998). This collective action may be promoted either by random shocks or the direction given by an obvious market leader. In both cases, if the intrinsic self-fulfillingness is believed to be the main reason for the financial crisis, then relatively little can be proposed in the way of future preventive policies. Self-fulfilling crisis may happen even though the countrys financial management is strong. So tough measures such as regulating sort-term capital flows were proposed to prevent the crisis. Krugman noted that the conflicts among the policy objectives do not necessarily ensure a random occurrence of crisis, even if the policy is formulated endogenously. He also stated that when market participants expect gradual worsening of market fundamentals, the economy tends to have unique equilibrium, and crisis erupts as soon as the economy heads into a crisis zone. If the crisis do not occur when an economy enters the crisis zone, this could be due to both arbitary nature of expectations as well as changing expectations about future fundamentals. 9. EXPLANATION OF ASIAN CRISIS 1997 BY KRUGMANS MODEL The Asian financial crises can be attributed to three major factors. They are international factor, domestic factor and intrinsic market failure. Among these three, both the domestic and international factors didnt responsible to much cause of Asian crisis, but the third one intrinsic market failure was responsible for that crisis. So the Asian crisis was because of a unpredictable self-fulfilling financial panic, which is a phenomenon typical of market failure. A key feature of a self-fulfilling crisis is the collective action of economic agents. This collective action may be promoted either by random shocks or the direction given by an obvious market leader. In both cases, if the intrinsic self-fulfillingness is believed to be the main reason for the financial crisis, then relatively little can be proposed in the way of future preventive policies. Self-fulfilling crisis may happen even though the countrys financial management is strong. So tough measures such as regulating sort-t erm capital flows were proposed to prevent the crisis. The East Asian crisis shed the light on the world economy to prevent or escape from the effects of similar crisis that will result in the future. Such developments relate to the deregulated nature of world financial markets, so that the triggering mechanism of a crisis may be financial. This is not to deny that financial panics may also emanate in situations where there has been no significant deterioration in the real economy above all on the profit rates. Hence when profits start to dip a careful calculation needs to be made. In regard to direct investment, the decision naturally cannot be acted upon with immediate effect, but in financial markets exiting from markets can be done almost instantaneously.

Friday, May 15, 2020

Listado países que piden visas a ciudadanos americanos

Los ciudadanos americanos se encuentran entre las personas del mundo que pueden viajar como turistas o por asuntos de negocios  a mà ¡s paà ­ses sin necesidad de visa. En la actualidad sà ³lo los superan en este privilegio los nacionales de Bà ©lgica, Dinamarca y Holanda. En este artà ­culo se informa sobre quà © paà ­ses piden visa a los ciudadanos americanos y cuà ¡les requieren que se cumplan otro tipo de requisitos. Ademà ¡s, se trata previamente de 4 asuntos muy importantes: dà ³nde obtener la  visa, casos de doble nacionalidad, sellos de entrada o salida de Israel y plazos. 3 posibles lugares donde obtener la visa En el listado que aparece mà ¡s abajo està ¡n los paà ­ses que piden visa a los ciudadanos americanos que quieren viajar como turistas o para hacer negocios. Obviamente para otro tipo de actividades se requiere siempre visa, como por ejemplo trabajar o estudiar. Ademà ¡s tener en cuenta que sà ³lo un pequeà ±o nà ºmero de paà ­ses pide que se solicite la visa en una embajada o consulado. La mayorà ­a permite que se obtenga a la llegada al paà ­s que se desea visitar o que se obtenga por internet.   Doble nacionalidad Estados Unidos permite la doble nacionalidad pero para ingresar y salir del paà ­s sà ³lo se puede utilizar el pasaporte americano, nunca el del otro paà ­s. Y esto es asà ­ en mà ¡s paà ­ses. Asà ­ que si se viaja entre Estados Unidos y el otro paà ­s del que se tiene la otra nacionalidad se va a tener que viajar con los dos pasaportes y en cada frontera utilizar el que corresponda. Se puede prohibir el ingreso y/o la salida si no se cumple con este requisito. Sellos de Israel Es muy problemà ¡tico o imposible ingresar a un paà ­s à ¡rabe si se tiene en el pasaporte el sello de ingreso o salida de Israel. Por esta razà ³n este es uno de los casos en los que Estados Unidos permite   que se solicite un segundo pasaporte và ¡lido simultà ¡neamente. Plazos Cada paà ­s permite un nà ºmero de dà ­as o meses para los ingresos tanto con visa como sin visa. Es muy comà ºn 90 dà ­as o 6 meses, pero los hay quienes las aprueban por menos tiempo y eso hay que respetarlo. Ademà ¡s, tener en cuenta matices como los espacios aduaneros como los paà ­ses Schengen. Los estadounidenses pueden ingresar por 90 dà ­as sin visa pero en el plazo de un aà ±o y se computan todos los paà ­ses Schengen. Es decir, en plazo de 12 meses no se puede estar sin visa 3 meses en Francia, 3 en Espaà ±a, 3 en Italia, etc. Los 26 miembros de Schengen son: Alemania, Austria, Bà ©lgica, Dinamarca, Eslovenia, Eslovaquia, Espaà ±a, Estonia, Finlandia, Francia, Grecia, Holanda, Hungrà ­a, Islandia, Italia, Letonia, Liechtenstein, Lituania, Luxemburgo, Malta, Noruega, Polonia, Portugal,  Repà ºblica Checa, Suecia y Suiza. Listado de paà ­ses que piden visas u otros requisitos a los ciudadanos americanos que viajan como turistas Estos son los paà ­ses que piden visa. Se incluyen naciones que en vez de visa demandan obtener antes de volar una autorizacià ³n electrà ³nica del viaje y tambià ©n caracterà ­sticas de las aduanas de determinados paà ­ses que deben ser tenidas en cuenta antes de viajar. Afganistà ¡n.  Llegar sin visa  puede llevar a la confiscacià ³n del pasaporte, a imposicià ³n de multas y a la deportacià ³n. Las à ºnicas excepciones son los estadounidenses nacidos en afganistà ¡n o los militares que llegan y salen del paà ­s en transporte militar.AngolaArabia Saudà ­. No hay visa de turista asà ­ que se tiene que obtener otra.ArgeliaAustralia.  No se precisa visado pero antes de viajar hay que aplicar por una Autorizacià ³n Electrà ³nica para viajar (ETA, por sus siglas en inglà ©s). Es similar a la ESTA que aplica Estados Unidos para ciertos paà ­ses en el Programa de Exencià ³n de Visas. El plazo de estancia que se otorga es de 90 dà ­as pero no se puede repetir dentro del tà ©rmino de 12 meses.Azerbayà ¡nBahraà ­n.Se puede solicitar una visa electrà ³nicamente en la pà ¡gina oficial del gobierno de Bahraà ­n o tramitar una al llegar a la aduana.BangladeshBielorusiaBenin.  Ademà ¡s de visa es recomendable  la tarjeta WHO para pro bar que se ha recibido la vacuna contra la fiebre amarilla.Birmania. eVisa por un mà ¡ximo de 28 dà ­as.Butà ¡n. Sà ³lo se aprueba la visa de turista a aquellas personas que reservan un tour con una compaà ±Ãƒ ­a local.Bolivia.  Se puede solicitar en las embajadas y consulados del paà ­s andino o en sus fronteras o aeropuertos internacionales. En este à ºltimo caso hay que pagar una cuota de $160.Brasil.  La visa debe obtenerse en la embajada o en el consulado mà ¡s cercano. Al llegar a Brasil los viajeros deben completar una pequeà ±a planilla que es sellada y se le entrega al turista. Es muy importante no extraviarla ya que debe entregarse para poder salir del paà ­s. En caso de no poder entregarla serà ¡ necesario conseguir un OK de la Policà ­a Federal para poder abandonar Brasil y puede que haya que abonar una multa.Burkina Faso.  Llevar tambià ©n la tarjeta de la Organizacià ³n Mundial de la Salud (WHO, por sus siglas en inglà ©s) para probar que se tiene la vacuna para la fiebre amarilla.Burundi.Se precisa probar vacunacià ³n para la fiebre amarilla. Respecto a la necesidad de visa, consultar antes de viajar ya que la normativa es cambiante.Cabo VerdeCamboya. Se puede obtener al llegar a una frontera o a travà ©s de la aerolà ­nea.Camerà ºn.  Visa y prueba de vacunas.ChadChina. Puede no ser necesaria la visa para viajes en trà ¡nsito por menos de 72 horas y a travà ©s de ciudades previamente designadas.Comoros. La visa se puede obtener a la llegada.Congo.  Ademà ¡s del visado, llevar prueba de vacunacià ³n contra la fiebre amarilla. Tambià ©n es necesaria una carta de invitacià ³n y/o prueba escrita de reservacià ³n hotelera.Corea del NorteCosta de Marfil. Existe la posibilidad de obtener una eVisa.Cuba. Se necesita visa. Ademà ¡s, antes de viajar enterarse en detalle de la limitaciones que existen para todos los ciudadanos y residentes permanentes de los Estados Unidos.  Djibouti.  Visa que se puede obtener a la llegada y prueba de vacunacià ³n frente a la fiebre amarilla.Egipto. Se puede obtener a la llegada. Ademà ¡s los turistas que permanecen hasta un mà ¡ximo de 15 dà ­as en los resorts la penà ­nsula de Sinaà ­ y llegan a travà ©s de ciertos aeropuertos pueden no necesitar el visado.Emiratos Arabes Unidos. A la llegada.  EritreaEtiopà ­a.   Se puede obtener a la llegada.Fiji. Se necesita sacar un permiso de visitante a la llegadaGabà ³n. eVisa y prueba de vacunacià ³n contra la fiebre amarilla.Gambia.Visado y vacunacià ³n para la fiebre amarilla.Ghana. Visa y cartilla de vacunacià ³n.Guinea. Visa y cartilla internacional de vacunacià ³n.Guinea Bissau. Se obtiene a la llegada.Guinea Ecuatorial.  Requiere que se presenten en la aduana o punto de entrada carta de invitacià ³n, vacunacià ³n, fotografà ­as, etc. Pero en la prà ¡ctica no se suelen pedir.India. eVisaIndonesiaIrà ¡n. Aquà ­ ha habido un cambio en respuesta a la polà ­tica migratoria de Donald Trump e Irà ¡n en estos momentos permite viajar a los estadounidenses que tienen visa, pero no emite nuevas.IraqJordania. Se obtiene a la llegada.Kenia. eVisaKwait. eVisaLaos. A la llegadaLà ­bano. A la llegada, và ¡lida por 1 mes.LiberiaLibia. Pasaportes con sello de entrada o salida de Israel no son permitidos.Mali. Visa y certificado internacional de vacunas.Madagascar. A la llegada.Malawi. A la llegada.Maldivas. A la llegadaMauritania. A la llegadaMà ©xico.  Aunque no se necesita visa hay que tener presente que si se entra al paà ­s vecino por tierra y uno se adentra mà ¡s de 20 kilà ³metros o por mà ¡s de 72 horas debe tener documentos inmigratorios và ¡lidos (Forma  Migratoria Mà ºltiple). Si se llega por mar o aire, ademà ¡s del pasaporte se puede utilizar la tarjeta de pasaporte o una licencia de manejar segura (enhanced).MozambiqueNauruNepal. A la llegadaNà ­ger. Ademà ¡s de la visa se requiere el certificado internacional de vacunacionesNigeria. Se puede obtener onlineOmà ¡n. A la llegadaPapà ºa Nueva Guinea. A la llegadaPakistà ¡nParaguay. Si se llega por aire al aeropuerto Silvio Pettirossi se puede pedir allà ­. En caso contrario hay que solicitarla en persona en un consulado o embajada paraguayo.Qatar. A la llegadaRepà ºblica CentroafricanaRusia.  A tener en cuenta es que ninguna persona podrà ¡ salir de este paà ­s con una visa expirada. Tendrà ¡ que solicitar una nueva, lo cual puede demorarse hasta tres semanas. No se necesita visado si se forma parte de un tour en un crucero y la estancia no es superior a 72 horas.Ruanda.  A la llegadaSamoa. Permiso de entrada que se obtiene a la llegada.Santo Tomà © y Prà ­ncipeSeychelles. Permiso de visitante que se obtiene a la llegada.Sierra LeonaSiriaSomalia. Se obtiene a la llegadaSri Lanka.  Se requiere o bien visa o bien una Autorizacià ³n Electrà ³nica de Viaje.Sudà ¡nSudà ¡n del SurSurinam.  Se puede adquirir una Tarjeta de Turista en cualquier punto de entrada al pa à ­s.Tajikistà ¡n. Se obtiene a la llegada.Tanzania. Se obtiene a la llegadaTimor. Se obtiene a la llegadaTogo. Se obtiene a la llegadaTurquà ­a. eVisaTurkmenistà ¡n.  Tuvalu.Uganda.En estos momentos se puede obtener a la llegada.  Consultar con la Embajada ugandesa ya que su polà ­tica cambia frecuentemente.Uzbekquistà ¡n.Venezuela. Estos son los requisitos para solicitar la visa.Vietnam.YemenZambia. A la llegadaZimbabwe. A la llegada A tener en cuenta Para regresar a los Estados Unidos, estos son los documentos que pueden utilizar los ciudadanos americanos.   A la hora de salir con nià ±os es muy importante evitar situaciones que pueden dar lugar a que se cataloguen como secuestro internacional, que puede pasar en casos de divorcios o separaciones nada amistosas. En todo caso, se necesita autorizacià ³n de ambos padres para sacar pasaporte para menores. A la hora de viajar puede resultar conveniente registrarse en el programa STEP, para que la embajada del paà ­s de destino envà ­e informacià ³n sobre la situacià ³n y pueda establecer comunicacià ³n en casos de emergencia. Este es un artà ­culo informativo. No es asesorà ­a legal.

Wednesday, May 6, 2020

Adhd And Comprehension Strategies For Students With Adhd

ADHD and Comprehension JVT2 Task 2 Jennifer Blake July 19, 2015 A Written Project Presented to the Faculty of the Teachers College of Western Governors University Abstract There is a need to provide effective comprehension support for students labeled with ADHD. ADHD students struggle with comprehension and there is limited research on comprehension strategies for these student. This is a qualitative research study that proposes to find useful comprehension strategies for students with ADHD. The literature points to a need for further research in this area. The participants of the study are 1st to 4th grade teachers that teach students diagnosed with ADHD. The duration of the study will be approximately three months. The proposed data would be collected through questionnaires, interviews and focus groups. Data will be compared and analyzed throughout the study process. For each data collection method, narrative data collection and analysis will be performed. To meet triangulation, all notes from the interviews, questionnaires and focus groups will be examined, compared and coded for common themes. The study will conclude with a report listing useful strategies and intervention, the pros and cons found for each and the usefulness of each according to the data. Table of Contents Problem Statement 3 Research Questions and Hypothesis 4 Goals of the Study 4 Importance of the Study 4 Literature Review 5 Role of the Researcher 16 ProposedShow MoreRelatedReading Comprehension And The Key Pillars Of Reading Instruction1609 Words   |  7 PagesReading comprehension is the ability to read the text, process what you just read and then be able to understand what you read well enough to explain it to a fellow peer clearly and precisely. Reading comprehension is a link in the chain that is the five pillars of reading instruction. 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Tuesday, May 5, 2020

Complementary Therapies in Clinical Practice †MyAssignmenthelp.com

Question: Discuss about the Complementary Therapies in Clinical Practice. Answer: Introduction From the psychologist perspectives stress is referred to as a reaction that include danger, threat, illness, new and many significant changes in the daily life style. Stress management is a technique which is intended to equip any single person with efficient coping mechanism (Palinkas et al. 2015). It is expected that the mechanism will help people to deal with different psychological stress. This research depicts the effectiveness of Yoga in healthcare for reducing stress of the health workers in the aged care facilities. The aim, rationale and significant of the project are illustrated in this research proposal. Different methods and therapy are available through which stress can be reduced (Roche et al. 2014). Yoga is one of the best care practices that help to promote healthy lifestyle to the health care workers. In order to define stress and stress management mechanism, literature review has been conducted and also research methods and design are elaborated in this proposal. Stress has become a significantly arising issue in peoples daily life which is hampering the health condition of people belongs to different age group (Jindani, Turner and Khalsa 2015). In addition to this due to lack of managerial and stress management mechanisms, the people are continuously facing major health care issues that are required to be resolved. The aim of the research is to provide proper stress management mechanism in terms of Yoga to aged people of Aged Care Facilities in Dementia Ward. Additional aim is to identify the effectiveness of Yoga for reducing the stress of the health care workers who are working in the aged care facilities. The rationale of this research proposal is to identify the causes of stress that interrupts the regular healthy lifestyle of the health workers and other people as well. Due to the extreme rise of stress among the common peoples currently stress management has also become an important part to be considered to reduce the rate of stress among all (Carson and Carson 2016). This particular research proposal will explore the stress management approach in terms of Yoga by the health care workers in aged care facilities in Dementia Ward. The project is focused to identify significant reasons of stress and the other tools and mechanism that are helping people to minimize rather get rid of stress or mental pressure. Stress should be minimized because it not only interrupts the daily lifestyle but also results many health issues accordingly (Felton, Coates and Christopher 2015). Research questions PICOT method has been followed to develop the questions and the research questions are as follows: What are the different types of Yoga the health care department is looking for; is this for all the staff members or only for a specific group of people? How does the level of stress will be measured? Are there readily available tools available or the designer will design one new? Context and the setting of the project Literature review According to Shamekhi et al. (2017), stress is referred to as one of the most frequently arising issues in the current daily life style which is the major reason of heath condition declination. It also causes other healthcare issues. Thus In order to conduct a healthy life style it is necessary to adopt proper stress management mechanisms. Yoga is identified as one of the most widely used and healthy mechanism for managing mental stress among the aged group. The health care workers of aged care facilities in dementia ward are focused to implement Yoga for the patients to reduce the stress level rather focused on build new design. Felton, Coates and Christopher (2015), stated that stress can either be temporary or permanent, thus before applying proper management mechanism approach the sources of stress should be identified. Stress can be defined as a integrated part of our daily life. Stress is a regularly arising problem of life that also causes different issues in the regular life style. If proper actions are not taken on time then it will lead to major health issues not only for the aged but for everyone belongs to different age group (Carson and Carson 2016). Nervousness, laziness are also causes due to extreme stress. There are many things which can trigger the reaction of stress. In addition to this many other techniques besides Yoga are there which help to manage the stress level among the aged group of people. The stress management mechanism includes the following techniques: Self understanding such as personality identification Self management through meditation Breathing exercise Chang et al. (2016) opined that, if anyone wills to alleviate the stress, then certain simple techniques are there that will help the aged group of people to get rid of the vicious cycle of stressful lifestyle. Taking break from the stressors is another helpful option that helps to give positive energy ad also reduce he mental stress. Music therapy can also help someone come out from a stressful lifestyle. Social support and meditation are also mindful players that reduces the stress level of people belongs to different age group Project design and method Three different types of research philosophies such as realism, interpretivism and positivism are available and based on the research topic, the most suitable research philosophy is needed to be adopted (Hussein 2015). In order to understand the impact of stress in daily life and the other issues that may rise due to the extreme stress, can be explored with the help of realism research philosophy. It also helps to exploit the hidden facts of the research topic. However for this research both the positivism and interpretivism research philosophy are avoided it deals with scientific data. There are two different kinds of research approaches such as deductive and inductive are used widely by the researchers to conduct any research work successfully. In order to understand the relationship between stress and peoples and the reasons for which the level of stress are growing simultaneously among people can be understand easily with the help of deductive research approach (Palinkas et al. 2015). It also gives different approaches that help to overcome the challenges and research gaps much professionally. In order to define the details of stress management mechanism inductive research approach is avoided because it deals with complex and huge projects. Inductive approach fails to provide proper termination to the readers. Data collection method Two different kinds of data collection methods are there such as primary and secondary. Data are the most important asset regardless of the type of any research work. Primary data are gathered through primary research like question, survey etc. whereas; secondary data deals with data gathered from different journals, blogs and secondary sources. The data collection is further segmented as qualitative and quantitative data. Both of these data collection methods are used to conduct the details of stress management (Hussein 2015). In order to understand the reason of stress among the people and the mechanism adopted to reduce the rate of stress the health workers have identified Yoga as the most effective healthcare mechanism in the aged care facilities in Dementia Ward. In order to understand the nature of stress among people it is necessary for the researcher to adopt the mist suitable data. For this particular proposal qualitative data are needed to be collected through conducting survey. It will help the research to identify the features of Yoga as a stress management mechanism and at the same time researcher can also develop new option or mechanism for managing stress among the aged group of people. The employees who are working in the healthcares industries are taken as the participants of the survey and as it is a minor project thus the chosen sample size for the project is 20. In order to accomplish a research work successfully, an accurate and mannered sequence should be followed by the researchers. For conducting the research work successfully, through considering Yoga as a stress management mechanism or another newly developed mechanism among the three different research design approaches such as descriptive, exploratory and explanatory the most suitable design should be selected by the researcher (Harris et al. 2016). For this particular topic the descriptive design should be adopted. Proposed timeframe Activities Week 1 Week 2 Week 3 Week 4 Week 5 Week 6 Week 7 Research topic selection Research question analysis Conducting literature review Research method and deign selection Data collection through primary approach Qualitative data analysis Identifying research limitation Expected outcome and assumption analysis Final submission Expected outcome It is expected that if the research work conducted successfully then it will be able to give the answers for the research questions. With this particular flow the types of Yoga mechanism those are to be applied, the stress level measurement approaches and all the readily available tools for developing a new design can be easily exploited. It will also help the workers to reduce the level of stress. References Agarwal, R.N., 2015. Stress, Job Satisfaction and Job Commitments Relation with Attrition with Special Reference to Indian It Sector. 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