The Social Studies Curriculum in Alberta, Canada Research Paper

The Social Studies Curriculum in Alberta, Canada - Research Paper Example Dramatic Change In The Social Studies Curriculum Of Alberta With respect to Canadian – Alberta framework of citizenship a social studies program or curriculum should explore, quantify and strengthen Canadian identity of students. Within Alberta citizenship framework a social study program should reflect translate Aboriginal and Francophone perspective as well which is close to ground realities. In a nutshell the program or curriculum should promote multicultural, multiethnic, democratic and truly Canadian social and cultural values. Vision of Alberta social studies program should be based on appreciating pluralistic Canadian society and associated diverse realities. Since year 2005 onwards the curriculum has been revised as well as the methods of teaching. The major change brought about is start of program basing on concrete philosophy which stresses to develop skills with a purpose of transforming students into responsible and productive citizens in a democratic country. The program envisions needs of twenty first century while focusing Canadian identity and citizenship. The program includes many facets like including realities of Aboriginal, Francophone, multicultural, multilingual and multiethnic society. The program endeavors to connect students, with what is being taught, which is the most promising aspect. Canadian society is diverse and pluralistic in nature due to huge population of immigrants. Multiple factors shape the Canadian Society like people come from different religions, societies, social and cultural values, countries and languages. In this perspective the curriculum needed transformation according to prevailing environment which has been accomplished. The curriculum has been changed in such a way that students should value diversity rather than opposing it and see human kind on a broader perspective. Values of freedom and social justice have been added in such a way that students respect the traditions, cultures and religions of all ci tizens in the perspective of Canadian national identity. The methods of teaching have been evolved in a way that teachers encourage students to value and share responsibility, and fully participate in creation of true Canadian society. The syllabus has been designed after taking input from public figures that students should be able to understand history, society and culture of Alberta, Canada and the world. Now the curriculum aims at understanding dynamics of a pluralistic society and conflict resolution in such a unique society. The program encourages the students in thinking about issues related to society in Alberta and problem solving. Students are guided to translate complex social issues, draw meanings and arrive at genuine conclusions. The program lays stress on cognitive skills and effective learning while connecting them to real issues, own history and land of Canada. The relationship between citizenship and Canadian identity is the basic ingredient of program. The social studies program in Alberta stresses a lot on citizenship, respect for rights and identity of all citizens. A citizen

Explain The Term Structure Of Interest Rates Essay

Explain The Term Structure Of Interest Rates - Essay Example Interest date data for bonds with different maturities date is published frequently and investors can use it to determine the term structure of interest rates. Some of the most popular interest rate data sources are the Wall Street Journal, Federal Reserve Bulletin and websites like Bloomberg and CNN. The term structure can be verified at any point in time by using published data from renowned sources. Yield curves are drawn using this published data on interest rates. There are short term and long term interest rates. Since long term interest rates have an element of maturity risk premium (MRP), they are usually higher than short term rates. When researching on the term structure of interest rates, it is important to have knowledge of commonly used terms like the Yield to Maturity (YTM), which is defined as the expected rate of return on a bond held till maturity (Brigham and Ehrhardt, 2010). Another concept which is discussed with YTM is that of the zero coupon bonds (or discount b onds). A zero coupon bond is a financial asset which at the date of maturity T, pays its holder a lump sum amount, with no coupon payments before the date of maturity (hence the name zero-coupon). The YTM at time t of a discount bond with maturity T is the constant and continuously compounded rate of rate of return at which the price of the bond accrues from time t to time T and pays one currency unit to the holder at time T. The YTM is also referred to as the spot rate and the notation R (t, T) is used for it. Spot rates are short term interest rates and the term structure of interest rates depicts the relationship between spot rates and their dates of maturity (Gibson, Lhabitant and Talay, 2010). Interest rates are not only used in discounting and pricing for zero-coupon bonds but also other financial derivatives because their prices are sensitive to interest rates. If we go beyond the scope of an individual investor, we can see that interest rates are also important to corporatio ns. This is because when corporations are doing project appraisals, they use interest rate for computing the net present value and the discounted payback period for a project. The cost of capital which is of prime importance to corporations also depends upon interest rates (Benninga and Wiener, 1998). It will be useful to specify the type of interest rate before discussing investment decisions and discounting. There are two main types of interest rates: simple interest rate and compound interest rate. Simple rate of interest is interest on a lump sum principal amount and it does not itself earn interest. Quite contrary to this, is the compound rate of interest which itself earns interest. Investment decisions and discounting are all predominantly based on compound interest rates (Kelly and Tracy, 2010) Long term interest rates are an average of short term interest rates. The relationship between short and long term interest rates involves expectations. For example, if it is expected that short term interest rates will fall then the long term interest rates will fall below the current short term rate. The contrary situation is also valid: if it is expected that short term interest rates will increase then the long term interest rates will rise above the current short term rate. These two situations are possible only because long term rates are derived from short term rates. It is a general perception that long rates are greater than short rates and this is termed as the ‘