Resources to Support Childrens Language Development

Resources to Support Childrens Language Development Task 1 An annotated resource list detailing stories, books, rhymes, songs, finger-plays, story props, puppets, resources and classroom contexts which can be used to support and extend literacy for real life purposes in their setting. You must take into account the particular needs of bilingual learners. In doing this you will realise that what you are doing is describing what you will provide in the role-play context and why. This amounts to a very basic plan together with a rationale for the resourcing. Resource List Following much discussion about poor standards of English teaching, the Literacy Hour was introduced into all English primary schools through the National Literacy strategy during the school year 1998/99. The daily literacy hour is divided between 10-15 minutes of whole class reading or writing; 10-15 minutes whole-class session on word level work (e.g. phonics, spelling) and sentence level work; 25-30 minutes of directed group activities; and a plenary at the end for pupils to revisit the objectives of the lesson, reflect on what they have learnt and consider what they need to do next. The resource list that has been complied has been designed to support activities that take place during the literacy hour. The educational resources market is huge and there is a great deal of choice available. There are many new publishers. For example, Badger Publishing Ltd (www.badger-publishing.co.uk) was established in 1989 and provides a range of books, which are designed to improve children’s literacy skills. The company’s publications are divided into three categories. Badger History for Foundation and Key Stage 1 uses bright and colourful images to stimulate the interest of children in historical concepts. Badger History uses nursery rhymes, changes in everyday life, stories and legends, and significant people and past events drawn from the history of Britain and the rest of the word. Each year of Foundation and KS1 has its own Big Book and Teacher Book. Each Big Book has 10 themes. Details of the book for nursery / reception classes are listed below. Big Book 1 for Nursery / Reception Old Mother Hubbard 12 days of Christmas London Bridge is falling down Boys and girls come out to play Miss Polly had a dolly Ride a cock-horse Mary had a little lamb Sing a song of sixpence Oranges and lemons Rats Badger Nursery Rhymes introduces the first sight words for reception classes. They also provide a literacy course, which aims to fulfil the early learning communication, language and literacy goals and the National Literacy Strategy. The publication contains 24 popular nursery rhymes, coverage of all 45 high frequency words and a range of objectives (word, sentence and text level work). Badger also has another range of publications, which are called Storyteller. This is a new series which uses 36 familiar stories to support the writing, speaking and listening objectives of the National Literacy Strategy in Reception, Year 1 and Year 2. This publication allows children to hear and learn about traditional stories, develop comprehension skills, develop speaking and listening skills, use drama to explore themes and characters, and increase their experience of the language and structure of stories. Each book has its own focus. For example, the publication for Reception uses stories, (The Gingerbread Man) with rhyme and repetitive phrases. Fingerplays are a fun way of introducing poetry to children. Fingerplays are also useful tools for practicing fine motor skills, following directions and introducing concepts. They also provide the opportunity to strengthen children’s language experiences and improve their literacy skills. The following fingerplays can be added to the list of resources: Balls (size, counting) Grandmother’s Glasses Choo! Choo! Two Little Blackbirds (counting) Funny Bunny Up, Up, Up (spatial concepts) Jack in the Box (spatial concepts) Unwind the Thread Riding in a Wagon A Teeny Weeny Spider Pat-a-cake Hickory, Dickory, Dock Grand Old Duke of York Literacy Connections (www.literacyconnections.com) is an American based organisation, which provides a vast array of information on reading, teaching and tutoring techniques, ESOL literacy, and adult literacy. Whilst, its resources etc, obviously cater for the needs of the American educational market, many of the items can be readily adapted to meet the literacy needs of children in the UK. A variety of songs can be accessed from this website. They can used to promote and develop a range of literacy skills. A selection of these songs is shown below. â€Å"Alphabet† is an interactive rap song. It targets the comprehension and manipulation of the alphabet and various words in the English language. Using this rap for Reception classes, challenges the children’s abilities to listen, respond, and demonstrate awareness of language patterns and sounds. The â€Å"Alphabet† Song A, B, C, D, E, F, G H, I, J, K, L, M, N, O, P Q, R, S, T, U, and V W, X, Y, Z A Boy Caught Danny Eating Father’s Groceries A like ant, B – boy†¦. The â€Å"Alphabet Animals at the Zoo† song allows children to develop the following skills and gain a greater understanding of a number of concepts. Notably – identifying letters of the alphabet, learning the order of the letters of the alphabet, recognising symbol sound correspondence, and increasing vocabulary movement. The children stretch, shake and bounce to warm up during the opening verse. Next, they create motions which go with a word for each letter of the alphabet. For example, arch, reach up and bend backwards, bend, bend forward, clap, clap hands, droop, let head, arms and spine sag forward, expand, make the body tall and wide. After completing the alphabet, each child faces someone and does the motion that goes with the first letter of his / her name. Alphabet Animals at the Zoo Learn the abc’s with ease While getting fit and having fun Aphabetise your exercise And do your moves one by one At the store or in the car park You’ll cause a small commotion If you suddenly stand and start The alphabet in motion Scholastic, the global children’s publishing, education and media company, provides a wide range of resources, which can be accessed from its website (www.teacher.scholastic.com). It provides information on how children can create pet puppets and use them interactively in their play. Pet Puppets The creation and use of pet puppets in their play, helps children to develop their social, language and literacy skills. The following materials are required: socks (one for each child), fabric markers, children’s safety scissors, white craft glue, materials to decorate puppets (e.g. feathers, buttons, fabric scraps etc), chart paper and marker. The children work together to create sock puppet pets. In making the puppets the children will be engaged in the following activities: Read stories to children about pets or animals and then engage them in a conversation about different types of pets. Do they have pets? What types of pets do they have? What types of pets do they have? What types of pets do they wish they had? Tell the children that they make sock pet puppets out of socks. When the puppets are complete – the children should be encouraged to participate in activities to develop dramatic-play and language skills. The Role of Parents In Developing Their Children’s Literacy Skills The most important benefit that parents can give to their children is their undivided attention. In a classroom situation a teacher will have to deal with 30 or more children. Therefore, the scope for a teacher to work one-to-one with a pupil is highly restricted. Thus parents play a crucial role in developing their children’s language, literacy and social skills. Adams, M, (1990), estimated that by the time her son was six, he had received 1700 hours of stories being read to him. He had also spent 1000 hours watching the literacy-focused television programme â€Å"Sesame Street†. By contrast, she calculated that in the first year of schooling he would have received 360 hours of literacy instruction, and less than 18 hours were given in individual attention. Toomey, D, (1993), reported studies, which demonstrated that, without help and guidance, parents were much less likely than teachers to praise, and pause and therefore encourage guesses or self-correction, or to give clues if children were hesitant. He suggested that careful thought, and appropriate resources, needed to be given to ensure that this invaluable potential support was channelled effectively. To deal with this issue the government has launched a number of initiatives e.g. Sure Start. This is designed to encourage parents to play a proactive role in their children’s learning. Resources For Bilingual Children There is a huge selection of resources available for developing the language and literacy skills of bilingual children. The use of such resources in the Literacy Hour depends heavily upon the make-up of the Reception class. For example, let us assume that a reception class contains 24 children. If the class contained 20 bilingual children and four native English speakers, this would clearly need a completely different teaching strategy, if the numbers were reversed. In both situations the literacy needs of the two groups most be accommodated. This is why the role of Teaching Assistants has become very important in terms of helping Reception Class teachers deliver a teaching strategy that meets the learning requirements of the children in a specific set. In Task 2, this issue is revisited – as the observation of the children entails analysing the effectiveness of the teaching and resources used in the delivery of the Literacy Hour. In the activity that was observed a specialist bilingual resource was not used. A First Experience book was used Tidy Up – this introduces children to the everyday activity of tidying up. A list of household objects (e.g. coat hanger etc) are involved. No matter how good the teacher, the support and resources are, bilingual speakers are always going to have major problems, if their parents do not make a significant contribution towards developing their children develop their English language and literacy skills. Young children have the monumental task of learning their native language. However, more non-English speaking children are now entering UK schools and are required to develop skills in English as well. Many teachers are now finding that some pupils are not proficient in any language. This is because children are pushed into learning a second language without continuing development in their native language. According to Fillmore, W, (1991), this is happening because children are pushed into learning a second language without continuing development in their native language. Research has shown that children that develop adequate language skills are more likely to experience success when they begin reading (Liberman, 1983; Roth, Speece and Cooper, 2002; Snow, Burn and Griffin, 1998). Early language acquisition begins at home and occurs somewhat naturally, through interactions with friends and family members. Children need these opportunities to develop their native language before they can master a second language. Summary An extensive resource list has been developed. The source and purpose of the items in the list has been explained. If children are going to learn – they must be encouraged to participate. In other words they need to be engaged in a positive and progressive. The contents of the resources list are designed to become fully involved with role play. For example, a teacher can read a short story to group of children. The children will become completely in tune with the experience, when they dress up and act the storyline themselves. Resources provide the opportunity for children to use their imagination. Literacy skills do not sit in isolation. Reading, writing, speaking and listening all interact with social interaction and new learning experiences. Further to this, as highlighted, is the importance of parents becoming actively involved in developing their children’s literacy and language skills. For bilingual children different teaching strategies are required to facilitate their particular learning needs. Specialist resources do exist – but more often than not – the key to success, is using readily available learning resources in new and imaginative ways to meet their needs. Task 2 The second piece of coursework is an evaluation of how well the planned activity meet the intended outcomes – i.e. did the role play area, support and extend the reading, writing, speaking and listening of all the pupils, including bilingual pupils. Introduction This task involves the observation of a number of activities that took place during place Literacy Hour. The children that were observed are in a Reception Class. Communicative competence provides a theoretical framework within, which these observed activities will be reviewed and critically evaluated. Also research findings relevant to the areas under investigation will also be considered. Educational Theory Underpinning Literacy Skills Communicative competence is a concept introduced by Dell Hymes and discussed and redefined by many authors. Hymes’ original idea was that speakers of a language have to have more grammatical competence in order to communicate effectively in a language; they also need to know how language is used by members of a speech community to accomplish their purposes. There are eight aspects of communicative competence. They are grouped together into two groups of four: Linguistic aspects: Phonology and orthography – Phonological competence is the ability to recognise and produce the distinctive meaningful sounds of a language, including; consonants, vowels, tone patterns, intonation patterns etc. Orthographic competence is the ability to decipher and write the writing system of a language. Grammatical competence – This is the ability to recognise and produce the distinctive structures of a language and to use them effectively in communication. Lexical competence – This is the ability to recognise and use words in a language that speakers of the language use them. Lexical competence includes understanding the different relationships among families of words and the common collections of words. Discourse competence – This is used to refer to two related, but distinct abilities. Textual discourse competence refers to the ability to understand and construct monologues or written texts of different genres, such as narratives, procedural texts etc. Learning a language involves learning how to relate these different types of discourse in a way that is coherent to the readers and listeners. If you like, the linguistic aspects of learning a language are the theoretical aspects that have to be mastered. In terms of learning how to read and write, the starting point is phonology. Mastering phonetics is at the very heart teaching Reception Class pupils how to read. The other three aspects are developed over a longer term period. Although by the end of the Reception Year – the children must have made some progress towards becoming effective in terms of the grammatical and lexical competencies. Pragmatic aspects: Functional competence – This refers to the ability to accomplish communication purposes in a language. For example, the ability to use language to greet someone. Sociolinguistic competence – This is the ability to interpret the social meaning of the choice of linguistic varieties and to use language with the appropriate meaning of the communication situation. Interactional competence – This involves knowing and using the mostly-unwritten rules for interaction in various communication situations within a given speech community and culture. Cultural competence – This is the ability to understand behaviour from the standpoint of the members of a culture and to behave in a way that would be understood by the members of the culture in the intended way. Cultural competence therefore involves understanding all aspects of a culture, but particularly the social structure, the values and beliefs of the people, and the way things are assumed to be done. Practice makes perfect – is a phrase that all school children will be familiar. If a child is going to become a proficient reader, writer and speaker of English, then they must be provided with endless opportunities to practice their skills and knowledge of the language. Herein lies the real importance of role-play in learning – it provides children with the opportunity to master the pragmatic competencies. As already stated, in Task 1, parents must become actively involved in developing their children’s literacy skills. Observation Of The Literacy Hour This was a Reception Class in a primary school. The class has 24 pupils. 20 of who are native English speakers. The other 4 are bilingual. The literacy hour is spread throughout the day and is covered in a number of sessions. Session 1 – Whole Class Reading (15 minutes) Session Objectives: The pupils will extend their vocabulary, exploring the meanings and sounds of new words Hear and say initial and final sounds in words and short vowel sounds in words Read a range of familiar and common words and simple sentences independently Know that print carries meaning and, in English, is read from left to right and top to bottom Show sufficient understanding of the elements of stories, such as main character, sequence of events, and openings, and be able to answer questions about where, who, why and how. This session involved using the story (The Gingerbread Man) from the Storyteller range of books produced by Badger Publishing Ltd. The teacher read a line from the book and asked the whole class to read the line aloud. For those children who struggled with a line they were assisted by the teacher or the teacher’s assistant to complete the task. This process lasted for about five minutes. The teacher then asked questions to help the class to recap on what they had read so far. The children were then put into pairs and were asked to read alternate lines to their partners. For those pupils who struggled with this task – they were aided by the teacher or the teacher’s assistant to complete their sentence. The teacher then moved the session beyond the book and asked the pupils to consider what materials they would like to be made of. This generated a wide range of interesting and amusing responses – ranging from rubber to chocolate. The children were asked to consider what special power they would like to have and why, in their new characterisation. The repetition of the reading aloud of sentences from the story book did not really motivate the pupils. However, when they were allowed to use their imagination and develop their own characterisation in a new format, the majority of the group found this stimulating. The reading aloud and repetition of the sentences was designed to allow the pupils to further develop their lexical competence. The relaxation of the structured rigidity, that is a by-product of reading aloud, provided the pupils with much greater freedom to use their imaginations and consequently develop the pragmatic aspects of the communicative competence framework. As with everything in life, the educational system suffers from two major constraints. That is, a lack of time and a lack of resources. As outlined, in Task 1, there is very little scope for offering individual pupils a sufficient amount of one-to-one contact with the teacher. The average size of Reception Classes in the UK is greater than 24. The bigger the class size and the greater the diversity in language skills (i.e. how many bilingual children are in the class?) then more pressure is placed on the teacher. The Literacy Hour has been in operation for nearly 8 years and its impact has been extensively researched. According to researchers from the University of Newcastle – whole class teaching has not encouraged opportunities for pupils to question or explore ideas to help them regulate their own thinking. The researchers have identified the problem of teachers adapting to the new curriculum without changing their old teaching styles or patterns. Consequently, many of the innovations of the National Literacy Strategy are not implemented as a result. Session 2 – Fingerplays – Directed Group Studies (25 minutes) Session Objective Show sufficient understanding of the elements of stories, such as main character, sequence of events, and openings, and be able to answer questions about where, who, why and how. The class was divided into six groups of four. Each group was presented with a different fingerplay (e.g. Unwind the Thread, Riding in a Wagon, Hickory Dickory Dock etc). The teacher was assisted by a teacher’s assistant and a volunteer worker. Working their way round the groups – the children were instructed on how to participate in the fingerplay and were encouraged to work as a group to generate ideas on what they thought the words contained in the rhymes, actually. The children were then asked again to work as a group and think of a storyline that could be developed using a fingerplay. This session was adequately staffed and this meant that no group of children had to wait long for assistance, in terms of getting answers to their questions. This role-play element of the session proved to be very successful and the children on the whole worked well within the groups to which they had been allocated. This session provided opportunities for the children to develop their proficiency with regard to the pragmatic aspects of the communicative competence. Session 3 – Developing The Language Skills Of Bilingual Pupils (20 minutes) Session Objective – By the end of the session the pupils will show sufficient understanding of the elements of stories, such as main character, sequence of events, and openings, and be able to answer questions about, where, who, why and how. Two of the bilingual students have only recently joined the school. Both of them are new to the UK and to English. Although their parents read to them in Urdu, they are used to a different writing system and print which goes from right to left, rather than from left to right. The TA (Teacher’s Assistant) is using a book which the teacher used at the beginning of the academic year (ie Tidy Up). It is a picture story with no words. The TA had been working with the two new pupils for two weeks and had established a good rapport. She worked her way through each picture and explained to the children what was happening in each scene. A volunteer worker, who was fluent in English and Urdu was on hand. The TA had a number of items (e.g. a clock, a coat hanger, a drinking mug, a torch etc) which featured in the story. As she produced each object she encouraged the children to handle it and say its English name. She asked questions about the objects – what they were for, where might you find them, and so on – and asked the children to find them in the pictures. She talked about the each item’s part in the story. The volunteer remained silent throughout and only interjected when the children did not understand what was being asked of them. Speaking briefly in Urdu to clarify and issue, and then allowing the TA to resume contact with the children. She then asked the children to take on roles of characters in the book, and she also took on a role. Together they acted the story out, using the household objects as props and she encouraged the â€Å"characters† to talk about what they were doing. She then asked the children to â€Å"read† the book in English, and supported (with help from the volunteer worker when appropriate) them individually as they did this. At the end of the session, she reviewed the session, the progress the two children had made. Overall the session was a positive experience for all of the concerned parties. The volunteer worker is helping the children to develop literacy skills within their first language i.e. Urdu. The parents of the children are attending ESOL classes at the school and are actively involved in helping their offspring develop their language skills in Urdu. This is having a positive impact on their ability and willingness to learn English. The use of role-play both at school and at home is increasing their proficiency in both languages. Thus in this instance the use of role-play has generated positive benefits. The objective for the session was achieved. The successful completion of this activity reinforces the factors which are at the heart of the educational theory stated at the beginning of this task. It is counterproductive to fast track the two new arrivals into the class. They need to be helped to master their native language as well as being slowly introduced to English. Their confidence with regard to speaking their own language and becoming more exposed to English, will be increased by the use of role-play activities as observed and by being positively engaged by their parents and extended family, within their home and domestic surroundings. The results of this observation provide a clear link to the previously stated research of several authors (i.e. Fillmore, W, 1991; Liberman, 1983; Roth, Speece and Cooper, 2002; Snow, Burn and Griffin, 1998) that early language acquisition begins at home and occurs somewhat naturally, through interactions with friends and family members. Children need these opportunities to develop their native language before they can master a second language. References Research Evaluation of the National Literacy Strategy – Academic Findings and Recommendations (www.literacytrust.org.uk/research/liteval.html) Literacy Improvement Programme – Developing Literacy in the Early Stages (www.ltscotland.gov.uk) The National Literacy Strategy – Guidance on the organisation of the NLS in Reception classes (Department for Education and Employment, September, 2000) Parental Tips for Enhancing Print Awareness, Phonological Awareness and Oral Language Skills in Young Children Learning English as a Second Language – Crystal Torti, Yvette Carrasco (Top Tips on Parenting, Fall, 2004, Volume 6, Number 3) Beginning to Read: Thinking and Learning About Print – Adams, M. (Cambridge, MA: MIT Press – 1990) Parents hearing their children read: a review – Toomey, D. (Rethinking the lessons of the Haringey Project – Educational Research, 35/3, 223-236, 1993) Cluster 1 – Thinking about children as learners – What role do parents play in children (www.abdn.ac.uk/education/research-and-initiatives/RTR) Early Childhood Today – Pet Puppets (http://teacher.scholastic.com/products/ect/Petpuppets.htm) Fingerplays Index Page (http://falcon.jmu.edu/ramsey/fingerplayindex.htm) Aspects of communicative competence – (www.sil.org/lingualinks/LANGUAGELEARNING/OtherResources) First Experiences (http://books.kelkoo.co.uk/b/a/cpc) How Most Children Learn To Read – Derry Koralek, Ray Collins (Reading Rockets, 1997 – www.readingrockets.org/articles/386) Various pages from Literacy Connections (www.literacyconnections.com) Various pages from Badger Publishing Ltd (www.badger-publishing.co.uk) Literacy Reception Module (Department for Education and Employment, September, 2003)

Demonstrating the Virtues of the Just Life Essay -- Essays Papers

Demonstrating the Virtues of the Just Life The character of Socrates in Plato’s Republic is a curious one. Socrates is rarely satisfied with widely or casually accepted statements, and is fearless in taking on enormous topics for debate. One such topic that Socrates tackles early and often in the Republic is that of justice and the just life. It takes little time for Socrates to begin an attempt at demonstrating to two of his friends, Glaucon and Adeimantus, that in fact it pays to be just. After much debate and even the creation of a fictional city, a resolution of some kind is reached. Socrates does succeed in convincing his opposition that it pays to be just, however he does not demonstrate said fact. The difference is subtle, but profound. The debate begins when Glaucon makes the powerful claim that, â€Å"the life of the unjust man is, after all, far better than that of the just man† (Plato, Republic[1], 358c[2]). He and Adeimantus beg Socrates to respond, and in response Socrates decides that to consider justice in a man, it would be easier to consider justice in something larger, namely a city. He begins the creation of a fictional city with the necessities of the citizens, and then the responsibilities each citizen has to the city, namely, to inhabit the profession that one is best at. To protect the city, its citizens, and its land, a class of â€Å"guardians† is to be created. This leads to the discussion of education, and finally to the third class of the population, the wise rulers. Socrates has created a three-tiered city that he claims is just. Once the city has been completed and it is inspected, Socrates declares that the definition of justice that they have been search... ...y saying that, â€Å"isn’t to produce justice to establish the parts of the soul in a relation of mastering, and being mastered by, one another that is according to nature, while to produce injustice is to establish a relation of ruling, and being ruled by, one another that is contrary to nature?† (444d). Isn’t it better to lead a just life if doing so prevents internal chaos and maintains order in the soul? It seems that answer is yes, but the question rests on a fallacy. The connection between injustice in a city as chaos among the classes, and injustice in a man as chaos in the soul has never been sufficiently shown. Socrates has failed his demonstration. -------------------------------------------------------------------------------- [1] Plato. Republic. Trans. Allan Bloom. Basic Books, 1968. [2] Stephanus numbers and letters used to cite all works of Plato.

O great god-king Xerxes Essay

O great god-king Xerxes, I have heard that you are planning to launch a full-scale invasion of the Greek nations following on the steps of your father, Darius. I come here before you to attempt to dissuade you of your plans for Greece. As I am once a prominent citizen of one of the many city-states in the nation, it would do you well to listen to my advice as it contains extensive knowledge of what you are about to face if you push through with your plans. O King, barely ten years ago, your father Darius launched a similar invasion against the Greek city-states in retaliation to the Athenians’ aiding the Ionians in their revolt against his rule. Although it had been initially successful, the invasion was ultimately put to an end by his defeat during the Battle of Marathon. It could be worth noting that, despite the battle being a victory, it was a desperate attack by the Athenian army that caused the defeat of your father’s armed forces. Sparta, perhaps the state with the most powerful military in all of Greece, was absent from the battle and even then the Greeks scored a victory. Each city-state in Greece acts independently from each other. They are each governed by their respective rulers and are not influenced by the affairs of the other city-states. However, it is not impossible for each of them to call for aid to one another as evidenced by the Ionian call for aid during the previous war. Sartus was taken thanks to the aid provided by Athens, who had the major contribution in the allied army, and by Eretria. Sparta had chosen delay sending military aid as it had decided a full moon needed to pass before they do anything and were thus absent from the Battle of Marathon, where your father’s army was defeated utterly. Had Sparta’s forces been present, its superior military might compared to Athens would likely contribute to utter decimation of the Persian forces under your father’s command. However, even then, your father’s soldiers lost under the Greeks. If you attack now, O King, you risk provoking an even greater alliance that can now include Sparta, which is your most formidable enemy on the plains of Greece. The Spartans are a race that places utmost emphasis on military training and raising superior soldiers that have been tested in war. Furthermore, the Spartans will never participate and are not interested in any alliance that will not mean leadership to them. They can be a vain and arrogant nation but with the strength to back their vanity up. If you threaten the entire Greek country now, your Majesty, the major powers of the nation will definitely ally themselves with Sparta at the helm. With Spartan tactics and warriors at the vanguard, your army – no matter how great – will run into serious opposition which can result into an even greater demise than what has happened to your father’s forces in Marathon. As could be expected from any nation, the Greeks have devised battle tactics that are best suited to their terrain. They know their land; you can expect them to take advantage of that and lure your forces into a disadvantage in battle. With a possible alliance under Spartan leadership, the Greek can have a tactical and strategic advantage even if your army is greater in number. O Wise King, great wisdom it would be not to rely on the greater numbers of your armed host. The Greeks, especially the Spartans, will not be easily daunted. They have tactics that can be quite effective when employed in terrain which they know well. For example, your father Darius in Marathon faced a tactic called the phalanx. By definition, a Greek battle line deployed in a phalanx means there is equal strength in all sides of the battle formation. However, in Marathon, the Greek commander faced superior numbers but was able to modify the phalanx into an effective variant: he strengthened the wings of his battle formation while weakening the center. At first you would think that the Greeks were committing suicide and, indeed, the Greeks seemed to be at the point of desperation. However, stronger wings meant that the Greeks managed to hold off the wings of your father’s formations, holding them back and disabling them from reinforcing the center of King Darius’ battle lines. Thus, it was then that the Persian armies were surrounded and routed by the Greek army in Marathon. The results of the battle were horrific. Your father lost a sizable portion of his soldiers, sixty times more than what the Greeks lost in that same battle. A second Marathon is not the only thing that you should worry about in the conduct of battle in this planned invasion. A worse battle awaits your forces if you push through. In Greece, there is a place which we call the â€Å"Hot Gates† or Thermopylae. This place is a narrow pass bordered by a sheer cliff wall on one side, and the sea on the other side. This is a battleground ideal for the phalanx. In such a narrow pass, the phalanx will serve as a wedge that will drive through your attacking forces. The Greeks need only to strengthen their front lines with the rear guard merely pushing the front soldiers forward. In here, the superior numbers of your great army will definitely count for nothing. The Greeks, especially the Spartans and the Athenians, are aware of this pass; they will definitely use this to their advantage to hold off your army while a greater force amasses for retaliation. A Spartan-led phalanx could be as devastating as any phalanx, which had been proven by the Athenian tactics in Marathon. As you could see, Great King Xerxes, the sheer size of your army is both your strength and your liability. To support such a large host, you need a sizable navy to carry supplies back and forth. Your navy will be stretched thin supporting your great army; it will also have to endure against whatever naval counterattacks and offensives that the Greeks may launch against you. You could face a naval situation similar to Thermopylae in Salamis. It is a narrow channel, one which can reduce your navy into a bottleneck and reduce their effectiveness. The Greeks can pick your ships off one by one even if they may be smaller in size. Consider my wisdom in this matter, King Xerxes. I daresay that, even if you hold the greater number of forces, you would find it hard to manage them effectively at smaller levels. The Greeks, my former countrymen, are geniuses both in scholarship and in battle; your father Darius learnt that the hard way in the fields of Marathon under the Athenians alone. With a possible pan-Greek alliance – with the mighty Spartans leading – your forces face yet another humiliating defeat similar to Marathon, only this time you will be facing the combined might of all the city-states of Greece. Abandon this plan now, before this results to destruction of your mighty host. Sources: Wheeler, Kevin. (2001). â€Å"Ancient Greek Battles of Marathon, Thermopylae, Artemisium and Salamis. † Retrieved November 30, 2008, from Ancient World Battles website: http://www. geocities. com/caesarkevin/battles/Greekbattles1. html Lendering, Jona. (2005). â€Å"Phalanx and Hoplites. † Retrieved November 30, 2008 from Livius. org website: http://www. livius. org/pha-phd/phalanx/phalanx. html Lopez, Vincent. (2008) â€Å"Shock Tactics on the Ancient Battlefield. † Retrieved November 30, 2008 from Armchair General website: http://www. armchairgeneral. com/shock-tactics-on-the-ancient-battlefield. htm/5 Stewart, Michael. â€Å"People, Places & Things: Xerxes I†, Greek Mythology: From the Iliad to the Fall of the Last Tyrant. Retrieved November 30, 2008 from Messagenet website: http://messagenet. com/myths/ppt/Xerxes_I_1. html Freedom44. (2004). â€Å"The First Persian War – Greek Wars. † Retrieved from Free Republic website: http://freerepublic. com/focus/f-news/1196577/posts

Definition And Uses Of Short Selling Finance Essay - Free Essay Example

Sample details Pages: 4 Words: 1155 Downloads: 8 Date added: 2017/06/26 Category Finance Essay Type Cause and effect essay Did you like this example? Short selling is generally understood to be the market practice of selling a financial instrument that the seller does not own at the time of the transaction [1]. To begin with, the seller, anticipating a fall in the price of an underlying security, borrows that particular security from a security broker at a lending fee. He then sells it on to a market participant at the market price in the initial period. Don’t waste time! Our writers will create an original "Definition And Uses Of Short Selling Finance Essay" essay for you Create order Next, the seller has to be able to return the borrowed securities to the broker at the time they are due. To do so, he buys the relevant number of securities at the market price in the second period and returns them to the broker. The key rationale of short selling transactions lies in the expectation of falling prices and the decision of the short seller to try to benefit from the expected price development. If the price of the security has fallen, then the short selling transaction turns a profit, leaving the short seller with net earnings equal to the price at the time of short selling the securities minus the price of the securities when covering his short position minus the fees he paid for borrowing the securities in the meantime. As an example: The short seller borrows 3000 Vodafone shares at a price of 150, selling at an overall price of pound;4500 on the open market. The price of the security falls to 130 over the next fortnight. The seller then buys the shares back on the open market for an overall value of pound;3900 and returns them to the broker. The rationality pays off and the short seller makes a net profit of pound;600 (excluding transaction costs and financing fees). The maximum profit a short seller can achieve from a short transaction is equal to the value of the asset sold short minus fees. In the extreme event of the market price of the asset falling to zero, the short seller can theoretically cover his transaction at zero cost, leaving him with the initial revenue from selling the asset minus the lending fees. The potential loss that the short seller risks, however, can be infinite. In case the market price of the asset sold short rises against the short sellers expectations, the costs of covering his short position rise in line, theoretically without limit. However, losses are usually contained as, in the event of rising prices, the short seller will be asked by the broker to either cover his position by buying the shorted asset, or to provide additional financing in order to meet the margin requirement for the security. The market risk is particularly high in case of a short squeeze. A short squeeze is a situation where the market price of an asset rises sharply as demand for the asset significantly exceeds its supply on the market, especially as a result of intense short sale covering. While short sellers expect market prices of an asset to fall, an actual increase in the price puts the short seller under pressure to cover their short position so as to minimise the loss on their short contracts. Also, short sellers may receive margin calls by their brokers. As short sellers seek to cover their positions they need to buy the underlying asset which causes its price to rise even further. This, in turn, may result in further waves of margin calls, asset purchases, and price rises. A memorable instance of a short squeeze occurred in October 2008 when the rush of short sellers to cover their positions led to the share price of car manufacturer Volkswagen AG to increase by more than 500% within only two trading days. The rise in the share price illustrates the severe impact short squeezes can have on market prices. WHY SELL SHORT? Given the risk profile of short selling strategies i.e. the expectation of revenues from falling asset prices, limited profits, and virtually unlimited risks of loss short selling is usually not pursued as an investment, but rather as a hedging instrument. Two motivations can be recognized: Hedging of an existing exposure: An investor owns an asset whose market price he expects to fall, and he decides to hedge against that risk. Examples of this include: A strategic equity stake in a company which the investors wishes to hold on to despite the expected loss in market value. Equity or other securities positions held by institutional investors such as insurance or fund companies which hold the assets as part of a defined portfolio, and may not be in a position to sell securities as portfolio strategies or compliance with regulatory portfolio allocation rules may discourage such disinvestments at short notice. Producers of agricultural products or commodities find it useful to offset expected losses from falling prices in their businesses. In all three examples, short selling can be an important and economically sensible instrument for compensating potential losses from asset price declines. Benefiting from market trends: Speculative motivations are the second objective for engaging in short selling strategies. Investors expecting the price of an asset to decline may choose to benefit from their assessment by short selling an asset to a counterparty who expects the opposite market development and is ready to enter a transaction on the basis of that expectation. ADVANTAGES AND DISADVANTAGES OF SHORT SELLING Pros Short-selling activity accounts for approximately 25% of the total market turnover according to Diether et al (2009). This reflects the direct contribution of short selling to market turnover. However, short selling also generates additional trading indirectly, as liquidity brings about more liquidity. Additionally, short selling improves market efficiency and helps attract more trading as follows: Short-selling activity helps price discovery. For instance, it reflects negative information to the market, which in turn generates more trading interest and hence increased trading in the overall market. Short selling also facilitates professional investors such as hedge funds, which may adopt certain strategies involving short-selling, i.e. the long/short strategy. Short selling contributes to trading in the derivatives market which can in turn contribute to cash market activity. It is commonly used by market makers of stock options and stock futures to hedge their market-making positions. All these effects are considered to add to the efficiency of financial markets. Cons There are many disagreements and general detestation of short-selling; some say that it even reduces market efficiency. Reasons include: Amongst the principal costs, short selling can aid price manipulation as short sellers can expand the supply of shares, temporarily depressing prices and profiting from the fall. Moreover, naked short selling can result in failures to deliver, which create phantom stocks, diluting ownership rights, destroying shareholder value and threatening market integrity (SEC, 2008). Short selling can be used in a possible attack on a large institutions stock price, undermining confidence in its solvency and threatening the financial system as a whole (the run on Sterling by George Soros is a prime example).