The s Vow A Story About A Young Polish Woman Who Saved...

Irena’s Vow is a story about a young Polish woman who saved thirteen Jewish refugees during World War II from the German Nazis who invaded Poland. As the audience walked into Wright Curtis Theatre at Kent State University on October 14, 2016 for opening night of Irena’s vow, they got to witness an unusual sight. There were two young gentlemen waiting upon the stage for the show to begin. As they leered over the incoming audience and the set design, people began to take their seats. The large worn wooden crates on the stage looked to be haphazardly placed, which created a surreal environment. As the play began, Jess Tanner, who played Irena Gut Opdyke, was incredibly captivating with her charm and wit. She told the audience that she was once their age, not an old lady like she was now. She was once a young 19-year old and she took into her protection twelve Jews, which turned to thirteen later in the play as they voted to take in Henry Weinbaum. Towards the tail end of t he play Ida Hallar and Lazar Hallar, two of the Jews, had a baby boy. They named him Roman. Using Wright-Curtis Theatre, which is a stage ‘in the round’, was an innovative decision. To place an incredibly emotional play in a small theatre where everyone can easily see others reactions, made it easy to gauge how others are responding to a scene. There were definitely disadvantages to having it in an arena style theater, there were many times where the actors would have to freeze on stage. The actors would have

Newspaper Comparison - 4554 Words

Newspaper Comparison Todays society is in many respects dominated by the media. Newspapers, books, television, radio and the Internet not only play significant role in an average persons life but are also multi-billion pound industries that, through the public exposure they are subject to, carry great influence. One of the oldest media formats still in use is the newspaper. This old printed format carries great political power and boasts huge readerships, partly due to its cheap price, never exceeding a few pounds an issue, and its portability. Throughout the decades during which Newspapers have developed, two main styles of writing and presentation in newspapers have emerged: Tabloid and†¦show more content†¦However, tabloids are generally considered to be the more sensationalist, emotionally concerned and subjective newspapers containing more pictures and easy to read text (such as the Sun and the Mirror). Typically, Many Tabloid only require a reading age of 9, thus allowing them to be readily understood by the less well-educated and intellectual members of the public. Clearly, the properties of these formats can be seen as direct opposites. However they do share some similarities. An obvious common property of all newspapers is that they are commercial, that is, that they will try to appeal to a large a readership as possible, within their market niche readership and this is reflected in their range of content and style. Some newspapers try to appeal to more people by mixing elements of tabloids and broadshe ets (such as the Daily Mail and the Daily Express), although the large tabloid and broadsheet newspapers tend to follow the traditional stereotypical styles for their type. The other key similarity between each type of newspaper is that they all exist to report the news and current affairs, differing only in the way in which they present and portray news stories which is also dependent on the preference of their readership. However, their priorities regarding what stories are newsworthy differShow MoreRelatedA Comparison of Newspapers510 Words   |  3 PagesA Comparison of Newspapers There are two main types of newspapers, tabloids and broadsheets. The tabloid focuses on people and often reports on celebrities. Some types of tabloids include The People, Daily Star, The Mirror, The Sun, News of The World and Daily Sport. Tabloid papers are usually readRead MoreA Comparison of Two Newspapers758 Words   |  4 PagesA Comparison of Two Newspapers The Sun and the Guardian are very different newspapers, even at a first glance you can see that they are created for different purposes. The guardian newspaper is twice the size of a tabloid newspaper e.g. The Sun. and therefore has twice as much information, than a tabloid. A Tabloid newspaper focuses on the images, and has less information Read MoreComparison of Newspaper Articles624 Words   |  3 PagesComparison of Newspaper Articles I have chosen two articles about the same story from two contrasting newspapers, one a tabloid and one a broadsheet. The tabloid I have chosen is The Mirror and the broadsheet is The Times. Both articles are taken from the papers of Tuesday 22nd October 2001. They cover the story about the outbreak of Anthrax in Washington DC where two postal workers died. I think the Mirror is aimed at people who do not want to read the news inRead MoreComparison of a Broadsheet and Tabloid Newspaper964 Words   |  4 PagesComparison of a Broadsheet and Tabloid Newspaper On 20th of February 2004, the Times and the Sun introduced the news of the release of five Britons held in Guantanamo Bay as the lead news front page stories. The articles in these two newspapers greatly contrast in various points, including views on the issue, page layout, style of writing and vocabulary used. The Times is a broadsheet newspaper, generally accepted as mid-conservative, while the Sun has the largestRead MoreA Comparison of Two Newspaper Articles989 Words   |  4 PagesA Comparison of Two Newspaper Articles In this essay I will be comparing two articles taken from local newspapers in different areas. I will be looking at the techniques used in each article and their effectiveness. I will use this comparison to eventually decide which article is the more effectiveRead MoreA Comparison of Three Newspapers Articles on the Same Topic2581 Words   |  11 PagesA Comparison of Three Newspapers Articles on the Same Topic In my essay, I shall compare the way in which three news publications, The Mirror, an example of the popular press, The Times, an example of the quality press and Newsweek, an American publication reported the same incident. Using these three reports, I shall compare the variations and similarities in the amount of factual information given, the interviews used, the language employed and finally, the layoutRead MoreA Comparison of Two Newspapers556 Words   |  3 PagesA Comparison of Two Newspapers There are many tabloid and broadsheet newspapers but now however there are online versions of these popular papers. Two examples, one tabloid and one broadsheet, are The Mirror and The Guardian. When newspapers first came out there were no online versions as the Internet was not invented yet, and therefore was a very basic but effective form of communication. Times move on and therefore the online versions were invented, as were the spokenRead MoreA Comparison of Two Newspapers1220 Words   |  5 PagesA Comparison of Two Newspapers ‘Media’ helps us to know more about what’s happening around us. There are many types of media; newspapers are one among them. Newspapers can be classified into two types: tabloids and broadsheets. Tabloids are known as â€Å"the popular press†. They are often biased and contain gossips about personalities and are less serious. The sentence structure and vocabulary are simple. Therefore, they are mostly read by the working class with minimumRead MoreComparison Of Newspaper Websites848 Words   |  4 PagesLooking at the home pages of three major news organizations, the New York Times, The Montreal Gazette, and the Guardian, it can be noted that there are quite a few similarities. All three of the websites have a very similar home page, with large bolded headlines, and pictures. Although all three sites have a tab bar at the top of their webpages, it should be recognized that the tabs of the Montreal Gazette do not contain an easily accessible world news button. Both the New York Times and the GuardianRead MoreA Comparison of Two Different Newspapers1161 Words   |  5 PagesA Comparison of Two Different Newspapers In the following essay, I intend to compare the differences and similarities in which two different newspapers - a tabloid (The Mirror) and a broadsheet (The Times) report the same story. I will be looking at the presentation and the use of language as well as the basics of how the story is put forward and told. Both papers are reporting the same story in which Prince Philip made a statement along the lines that guns are no

Eye Movement Desensitization and Reprocessing Therapy for...

The first stage of treatment focuses on obtaining background information from the client. The clinician will often explore past events that are related to the current problem, as well as present situations that trigger the current problem. This is particularly important in finding the origins of the trauma that may be hidden or masked. After all necessary information is gathered, the clinician will take what was learned and translate it into positive future goals for the client to achieve through treatment. Stage two, labeled the preparation phase, consists of the clinician preparing the client for the processing of disturbing memories through various means. A therapeutic relationship between clinician and client is established by educating the client about the problems they are having and by explaining the process of EMDR. In addition, the clinician teaches the client a series of self-calming techniques that help clients maintain â€Å"dual awareness† during the following sta ges. Once a relationship is established and the client has been taught self-calming techniques, the assessment stage begins. During the assessment phase, the clinician helps the client identify the details of the traumatic memory. However, not only is the memory recalled, but the negative cognition that is associated with it, the desired positive cognition that the client wishes to gain, as well as physical and emotional sensation are acknowledged. In addition, the clinician gathers various baselineShow MoreRelatedThe Effects Of Eye Movement Reprocessing And Desensitization1596 Words   |  7 Pages Lone Star College - CyFair The Effects of Eye Movement Reprocessing and Desensitization in Posttraumatic Stress Victims Kaitlyn Schenk PSYC 2301.5012 Laura Renee October 19, 2016 An estimated 5.2 million adults will suffer from Posttraumatic Stress Disorder (PTSD) every year. Every PTSD victim encounters different experiences and symptoms that coincide with their trauma. Many forms of treatment and coping mechanisms have been attempted in the past decade to produce relief. There haveRead MoreSymptoms And Treatment Of Posttraumatic Stress Disorder ( Ptsd )1570 Words   |  7 Pagessuffer from Posttraumatic Stress Disorder (PTSD) every year. Every PTSD victim encounters different experiences and symptoms that coincide with their trauma. Many forms of treatment and coping mechanisms have been attempted in the past decade to produce relief. There have been a few successful forms or treatment and there have also been treatment routes that have been detrimental to the success and overcoming of victims’ symptoms. Eye Movement Desensitization and Reprocessing (EMDR) is a new treatmentRead MoreSymptoms And Symptoms Of Ptsd1383 Words   |  6 Pagesmay present as involuntary recurrent fear-based memories, dreams, or flashbacks of the traumatic event that are intrusive and disturbing (DSM-5, 2013). Or PTSD might present as withdrawal from normal activities as a measure to avoid distressed memories or social reminders of the event. Post-traumatic stress may even display selective memory, or distorted cognitions of the traumatic event. Some PTSD patients present to be extreme pessimists, having negative beliefs about themselves and the worldRead MorePost Traumatic Stress Disorder ( Ptsd )1241 Words   |  5 PagesSiobhan McShea Mrs. Stanley Health April 14, 2014 Post Traumatic Stress Disorder Post traumatic stressed disorder is a mental illness caused by an enormous amount of anxiety felt after a traumatic or life-threatening accident or event. This event causes intense feelings of fear and helplessness. Studies have shown that about 5 to 6 million people suffer from PTSD. (Thomas ) About 30% of those people are war veterans. Most war veterans who have served for our country who have PTSD from the warRead MoreEye Movement Desensitization And Reprocessing ( Emdr )1675 Words   |  7 PagesIntroduction The recent wars in Iraq and Afghanistan have brought the effects of posttraumatic stress disorder (PTSD) on members of the United States Armed Forces to the forefront of concern for researchers, mental health practitioners, and the American society as a whole (Barlow Durand, 2015, p. 155). The Diagnostic and Statistical Manual of Mental Disorders 5 describes the clinical symptoms of PSTD as: intrusion symptoms, negative alterations in cognitions and mood, alterations in arousal andRead MorePost Traumatic Stress Disorder Treatment For War Veterans1564 Words   |  7 Pages Post-traumatic stress disorder treatment for war veterans Post-traumatic stress disorder, PTSD is a psychiatric disorder that may develop after experiencing or seeing a traumatic or a brutal life threatening event. It is increasingly on the rise in war veterans. For those with PTSD only 53 percent have seen physicians or a mental health care provider. And for those who sought out care, roughly only 50 percent received adequate treatment when returning from combat. Although there are many treatmentsRead MorePost Traumatic Stress Disorder ( Ptsd )989 Words   |  4 Pages Post Traumatic Stress Disorder Sarah Batson Eastern Florida State College, Melbourne CLP 2140 03M Abstract In today s society, it has become prevalent that the amount of individuals suffering from mental illnesses is rapidly increasing. This paper will focus on one of the disorders associated with mental illness – Post Traumatic Stress Disorder. The introduction will define and describe the disorder, and the following paragraphs will discuss causes, symptoms, target populationsRead MoreDialectical Behavior Therapy : An Evidence Based Treatment For Borderline Personality Disorder1141 Words   |  5 Pagesbehavior therapy (DBT) is an evidence-based treatment for borderline personality disorder (BPD) and PTSD (Cukor, 2009). The therapy focuses on a balance between change and acceptance. DBT is combined with individual psychotherapy and building skills groups to regulate emotion, mindfulness and distress tolerance. There are two stages associated with DBT. The first entails the use of DBT for individuals with BPD with significant trauma histories and PTSD (Welch Rothbaum, 2007). Pat ients who haveRead MoreEssay On Ptsd1358 Words   |  6 PagesFor this assignment, I have chosen to create a mock session for a person who is expressing symptoms of PTSD. According to the National Institute of Mental Health, PTSD (posttraumatic stress disorder) is a mental health problem which some develop after experiencing or witnessing a terrifying incident. Flashbacks, nightmares, severe anxiety, and uncontrollable thoughts about the event are just a few of the symptoms occurring in those suffering from PTSD. These symptoms go away for most individuals;Read MorePost Traumatic Stress Disorder ( Ptsd ) Essay1550 Words   |  7 PagesPost Traumatic Stress Disorder â€Å"PTSD is a disorder that develops in certain people who have experienced a shocking, traumatic, or dangerous event† (National Institute of Mental Health). Post Traumatic Stress Disorder (PTSD) has always existed, PTSD was once considered a psychological condition of combat veterans who were â€Å"shocked† by and unable to face their experiences on the battlefield. Much of the general public and many mental health professionals doubted whether PTSD was a true disorder (NIMH)

Immunization Provides Direct And Effective Protection...

Immunization provides direct and effective protection against preventable diseases, and hence it is one of the most cost effective public health interventions. Vaccines are preventing 2-3 million deaths due to diphtheria, pertussis(whooping cough) tetanus and measles worldwide. WHO launched the Expanded Immunization Program (EPI) in 1974 against 6 vaccine preventable diseases (VPDs) namely, diphtheria, polio, tuberculosis, pertussis, measles and tetanus. Government of India introduced EPI in 1978, which was later changed to Universal Immunization Program (UIP) in 1985. In reality, the aim with which UIP started, that is to reduce burden of VPDs, is only partially achieved. VPDs are still responsible for around 5, 00,000 deaths in India out of the total 1.5 million deaths in world. India is one of the countries with lowest immunization coverage in the world. According to data from National Family Health Survey 2005-06 (NFHS 3), only 43.5% of children aged between 12-23 months were fully vaccinated. (Fully immunized child is the one who has completed the recommended schedule of BCG, DPT, 3 doses of OPV and measles vaccine before 1 year of age) According to UNICEF coverage evaluation survey 2009, 61% of children between age 12-23 months were fully immunized in India and 7.6% of same age children did not receive any vaccination. The same survey also reports that drop- out rates were also significantly high and differed for different vaccines. Drop- out rate for BCG-DPT3 was 18%,Show MoreRelatedPreventing Immunization Rates And Reduce Preventable Infect ious Diseases1341 Words   |  6 Pagesreductions in infectious disease mortality, largely to immunization. (Healthy People 2020). Nation’s attempt to control diseases, Vaccines are one of the most cost-effective clinical preventive services and are a core component of any preventive services of infectious diseases(Healthy People 2010)because diseases do not stop at geopolitical borders or exclusive only to third world countries. Immunizations saved 33,000 lives. prevents 14 million cases of disease,and it reduces direct healthcare costsRead MoreVaccines Prevent The Human Race1697 Words   |  7 Pagesamong children younger than age 5 every year, [however;] 1 child dies every 20 seconds from a disease that could have been prevented by a vaccine† (Global Health Security: Immunization). Providing immunity to human, vaccines have saved countless lives through one simple injecting and have eradicated many diseases that used be common among people. Vaccines is the soluti on and allow us to be able to combat diseases that have overwhelmed humans for centuries. Having this preventative practice has been extremelyRead MorePros And Cons Of Vaccination1665 Words   |  7 PagesVaccinations, Worth A Shot! Mandated Vaccinations are a huge argument right now because of health and disease issues. There are people on both sides of this argument. Some people are against vaccinating their children because they feel they are being forced to have their child get vaccinated. While some people feel the need that vaccinations are important to protect themselves from any illness or diseases. Vaccinations should be mandatory for all schools and health care purposes. For one, people who areRead MoreVaccines Are The Best Effective Preventative Tools Against Highly Infectious Disease?2037 Words   |  9 PagesVaccines are thought to be some of the most effective preventative tools against highly infectious disease processes and their complications. Routine vaccinations in the United States have led to drastic declines in vaccine-preventable diseases (Omer, Salmon, Orenstein, DeHart, Halsey, 2010) such as mumps, rubella, polio, smallpox and diphtheria. These diseases are occurring at less than 1% of what they were during the pre-vaccine era, especially in higher income countries. Vaccination requirementsRead MoreVaccination Is The Human Body Protect An Individual From Infection Or Disease?1407 Words   |  6 Pagesbroad range of prevantable diseases. World wide, millions if not billions of people are reprieved from ever being infected by certain diseases and viruses that could kill or leave them scarred even should they survive the virus. The low death toll and spread of diseases are directly connected to the use of vaccination. The main purpose of vaccination is to increase disease immunity among people and large populations. Vaccines teach the human body how to defend against foriegn The vaccine â€Å"teaches†Read MoreMandatory Vaccination For Children : A Health Policy Debate1905 Words   |  8 Pagesscience makes advancements and diseases processes evolve and emerge. Around 400 BC, Hippocrates recognized the now preventable diseases, such as diphtheria and mumps (Immunization Act Coalition, 2015). The first effort to immunize dates back to the 1100’s when children were inoculated with scabs from individuals who recently had small pox, with a technique coined as variolation. Then in 1796, Edward Jenner successfully created the first small pox vaccine (Immunization Act Coalition, 2015). AccordingRead MoreCultural Perspectives on Vaccination1164 Words   |  5 Pagesthey have, and that vaccines have been largely advantageous to public health. Main points of contention: Pro-vaccinators (usually health care specialists, microbiologists, governments, pharmaceutical companies) Vaccinations are an effective and cost-saving tool for disease prevention. Positive externality attached to the use of vaccinations – overall public health is positively affected Side-effects are infrequent and the most common ones are minor. Anti-vaccinators (some conservative Islamic and ChristianRead MoreNonvaccinated Children in Public Schools1793 Words   |  8 Pagesmake sure their child is protected from infectious diseases and wants to do everything in their power to prevent any illness in the future. Every day there are thousands of babies born in this world and as parents we know that their immune systems are not ready to take on the illnesses that this world has. So why not protect your child? The American Academy of Pediatrics state that childhood vaccines are 90 – 99% effective in preventing disease. The risks of not being vaccinated far outweigh theRead MoreNonvaccinated Children in Public Schools1785 Words   |  8 Pagesmake sure their child is protected from infectious diseases and wants to do everything in their power to prevent any illness in the future. Every day there are thousands of babies born in this world and as parents we know that their immune systems are not ready to take on the illne sses that this world has. So why not protect your child? The American Academy of Pediatrics state that childhood vaccines are 90 – 99% effective in preventing disease. The risks of not being vaccinated far outweigh theRead MoreThe Social Issues Of Vaccinations1740 Words   |  7 Pagescriteria and increased awareness, has fueled concerns that an environmental exposure like vaccines might cause autism. BIOLOGY (PROCESS / MECHANISM) Diseases that vaccines prevent can be dangerous, or even deadly. Vaccines greatly reduce the risk of infection by working with the body’s natural defenses to safely develop immunity to disease. Vaccines help develop immunity by imitating an infection. This type of infection, however, does not cause illness, but it does cause the immune system to

Environmental Revolution Free Essays

string(61) " being driven or riding busses to school instead of walking\." The Next Step Broad Social Change Through Personal Commitment Introduction In the last thirty years, America has witnessed an environmental revolution. New laws like the 1963 Clean Air Act and the 1974 Safe Drinking Water Act forged new ground in political environmentalism. Social phenomena like Earth Day, organized by Dennis Hayes in 1970, and the beginning of large-scale recycling, marked by Oregon’s 1972 Bottle Bill, have help change the way Americans think about the environment. We will write a custom essay sample on Environmental Revolution or any similar topic only for you Order Now As we approach the third millennium, however, we must reconsider our place on the planet and reflect on our efforts and progress towards a sustainable society. As global warming becomes a scientific reality, natural disasters make monthly appearances in the headlines, and communities continue to find their ground-water contaminated by industrial and nuclear waste, we must ask ourselves: are we doing enough? The environmental movement in the past has largely been a social and political phenomenon. While many of us recycle (yet still only 35 percent of us) and take dead batteries to our town’s Hazardous Waste Day, most Americans have not made the environment a personal issue. Very few of us have taken the kind of personal life-changing steps that are necessary to create an environmentally sustainable society. It is simply naive to believe that America’s present rates of consumption, waste production, and environmental contamination are sustainable. The kind of social change required can only happen when we as individuals embrace the effort in our everyday lives. Only then will corporate America and the government realize that they too must change to maintain their customer base and public support. This kind of personal commitment to change would also create a new social ethic based on the environment under which people and companies who do not care for the earth would be held socially and financially responsible. In six parts, this article will re-examine our place in the environmental movement and investigate exactly what changes we can make in our personal lives to bring about positive change. These areas are transportation, energy, recycling and waste management, toxins and pollution, food, and water. Some of the changes discussed will require sacrifice. But, more important, these changes will often simplify our lives, bring our families and communities closer together, and help us to better understand, revere, and coexist with the world upon which each of us is directly dependent. Transportation The invention of the automobile is one of history’s greatest environmental disasters. The automobile decentralized our society. People with cars moved out of the city and drove to work from their suburban homes. Before the automobile, agriculture was local. Food was grown by farmers living in what was soon to be the suburbs, and delivered fresh to markets in the cities. Because of the short distance food had to travel, farmers didn’t need to add preservatives or other additives to maintain freshness. Clearly, the automobile, like other harmful inventions, makes our lives easier in many ways, but how often do we consider the environment when weighing these benefits? Fossil fuels account for the automobile’s most significant effect on the environment. Not only are the emissions from cars and trucks toxic to every air-breathing organism, but every step of the fossil fuel process, from extraction to disposal, is bad for the environment. According to the U. S. Environmental Protection Agency (EPA), millions of gallons of untreated water contaminated by the drilling processes are dumped into waterways and oceans annually. Once extracted, fossil fuels are frequently refined on site, burying 179 million tons of toxic waste annually. During transport, an average of 1 million gallons of oil is spilled into the ocean each month. Upon arrival, fossil fuels are usually burned in automobiles or power plants. The average coal-burning power plant burns about 10,000 tons of coal in a single day. With even a low estimate of five per cent waste, that leaves 500 tons of toxic waste produced each day by a single power plant. If used in cars, oil must be refined further, wasting more energy and creating more toxic waste before drivers purchase it. The combustion engines used in cars and trucks emit toxic gases that contribute to the greenhouse effect and acid rain, deplete the ozone layer, and create more than 50% of the smog producing toxins that city-dwellers breathe every day. Even if we disregard the environmental damage caused by fossil fuels, we should recognize that, as a non-renewable energy source, the earth’s reserves will eventually run out. Hundreds of millions of years of organic decomposition will be wiped out in a single century. Conservative estimates say we have 30 to 50 years left of oil use. With more and more developing nations rapidly increasing their use of fossil fuels, and the continuing growth rate of fossil fuel use at four times the population growth, our time with fossil fuels could be significantly less. Just imagine the economic and political upheaval a major oil shortage would cause. Simply put, the country that depends on fossil fuels the least will be the most likely to survive the economic strife and wars resulting from global depletion. Fossil fuel consumption is deeply entrenched in the American mode of life. We rely on automobiles for almost all of our transportation needs, enjoy motor boats and jet skis on our vacations, and use gas-burning engines in most of the tools we use in the yard. (Although electricity is another major consumer source of fossil fuel consumption, that will be discussed in the Energy section. Yet we can make numerous changes in our lifestyle that will significantly decrease our personal consumption of fossil fuels. Let’s return to America’s biggest weakness: the automobile. Simply not driving is the best and most obvious solution to the problem of automobiles. Americans have gotten used to their cars and seldom walk or bicycle even short distances. Gym class became a federal requirement in the 1930s because students were being driven or riding busses to school instead of walking. You read "Environmental Revolution" in category "Essay examples" Americans have also become significantly more overweight since we started driving. Consider your Saturday errands around town. Most errands we make are to destinations less than a few miles away and frequently involve dropping off or picking up something small. These kinds of errands can just as easily be accomplished by walking or bicycling. Your body will thank you, and so will the environment. Public transport, if available, is also a great way to stay out of the car. Consider an area’s public transportation system in choosing a place to live, as some cities have significantly better systems than others. When your destination is too far to walk or bicycle, there are still numerous ways to minimize the use of automobiles. If you drive to work, find other people at your company or other companies near you that live in your town and start a carpool. Even carpooling once in a while makes a difference, so don’t get discouraged by occasional scheduling conflicts or other obstacles. When running errands, plan ahead to consolidate them into one trip and consider the most efficient route. If possible, park in a central location and walk to multiple destinations. Ask a neighbor or friend if they need to go out (everybody has to go to the grocery store, for example), and share a ride. For every ride you share, the fuel consumption and emissions for that trip are cut in half. There are also many ways that your driving habits effect the fuel efficiency of your car. Try to avoid fast accelerations, for instance. They use significantly more fuel than gradual accelerations. Likewise, avoid driving at excessive speeds. Every car engine has an RPM (revolutions per minute) at which optimal fuel economy is achieved; you’ll find it in your car’s manual. Check your tachometer and try to maintain that RPM while driving. Minimizing the work-load on your car is another way to increase fuel economy. Remove any unnecessary heavy objects from the car, and avoid using the air conditioner when possible. Finally, turn off your engine if you expect to be idle for even a short while. Starting a modern fuel-injected car uses less gas than idling for 30 seconds. Did you know that warming up your car by letting it idle in the driveway in cold weather actually causes engine damage? This is also when your car’s emissions are at their worst. The best and fastest way to heat up a car is by driving it. When it’s time to buy a new car, there are many ecological alternatives to the gas guzzling beasts typically driven by Americans. Many compact cars on the market today achieve stunning fuel economy. The four-wheel-drive trucks so popular in today’s market get comparatively bad gas mileage and usually carry one person over a paved road. Buy the smallest car you can, and don’t buy a larger car for infrequent needs-consider buying a used trailer for infrequent cargo hauls. If you’ve been putting off the purchase of a motorcycle as whimsical, think again. Many motorcycles (and scooters in particular) achieve significantly better fuel economy compared to even the most fuel-efficient cars, resulting in less over-all consumption and emissions. Maintenance is the final step in minimizing the environmental impact of automobiles. Modern cars have very sophisticated emissions systems and engines that must be finely tuned to achieve maximum efficiency. Regular check-ups for your car will protect your investment and ensure the car is in its best possible working order. The longer you keep your car, the more value from it you receive and the less waste is created and energy spent in the production of a new car. If you have to commute to work every day, consider an electric car. Electric cars have come a long way in price, distance and efficiency, and will soon be available from large manufacturers like Ford and Toyota. Several small companies around the country convert small gas powered cars and trucks to electric, zero-emissions vehicles and sell them for slightly more than a gas-powered car. As electric cars become more common and are manufactured on a large scale, their prices will drop significantly. Many hobbyists, with no prior automotive or electrical expertise, have created their own electric cars from their used gas-powered vehicles. Check your local library for one of the many conversion guides available. Today’s electric cars take about four hours to charge, plugged into a standard outlet, and can go anywhere from 50 to 200 miles on a single charge. While you wouldn’t want to take an electric car across the country (though this has been done), their distance per charge is plenty for a typical commuter to get to work and back. Most electric car owners keep a gas-powered car around for longer trips. Owners of electric cars generally find the increase in their electric bill minimal compared to the amount they save in gasoline. While electric cars create no emissions themselves, and create almost no waste (even the batteries are recyclable), the electric company is still burning fossil fuels to create the electricity needed to charge the car. Nevertheless, electric companies are capable of converting fossil fuels to energy much more efficiently and with fewer emissions than a gas-powered car. Electric cars also leave room for improvement in any method of large-scale energy production, such as biomass, hydro, and solar (see the Energy section). This section has focused primarily on cars, but Americans also use many other gas-powered engines. The small engines in motor boats and lawn equipment do not have to meet the emissions standards of cars, and thus, emit far more toxins into the air. Consider using a quiet, powerless mulching mower on your lawn if you have one, and an electric weed whacker rather than one that is gas powered. If you enjoy the water, consider learning to sail rather than motoring. Motorized water vehicles not only emit air pollution, they also pollute the water, contribute to sound pollution, and injure fish and other animals in the water. Energy in the Home Automobiles are not the only consumers of fossil fuels or sources of air pollution stemming from our personal lives. According to the EPA, furnaces, hot water heaters, and other fossil fuel burning appliances in American homes produce 20% of all U. S. carbon dioxide, 26% of sulfur dioxide, and 15% of nitrogen oxide emissions, the leading causes of acid rain and global warming. Note that these figures do not take into consideration the power our homes draw from fossil fuel-burning power plants. By making our homes as energy-efficient as possible and minimizing our personal use of electricity, we can significantly reduce our personal impact on the environment. The main sources of power consumption in our homes are the heating, ventilation, and air conditioning (HVAC) systems. Maintaining, repairing, or upgrading these systems will not only save us money, but also reduce the amount of energy needed to run our homes on a day-to-day basis. The EPA’s Energy Star Homes program brings environmentally aware developers and manufacturers together to build homes that are better insulated and utilize 90% efficiency or better HVAC systems. If you are looking to build a new home, call their toll-free hotline, (888) STAR-YES, for literature, or save paper and visit their Internet site at www. epa. gov for more information. Unfortunately, building new homes is not an environmentally sound thing to do. New homes require previously undeveloped land or disposal of the property’s old construction. Further, new wood and materials must be used unless costly measures are taken to restore materials from an old construction. Beyond environmentally unsound, new construction is many times more expensive and time-consuming than renovation and repair of most existing houses. Even if your house is too costly to upgrade, consider buying an already renovated house or one easily renovated before building new construction. A furnace using heating oil, natural gas, or electricity heats most American homes. Still others use a wood or pellet stove. Of these, electricity is by far the least efficient. One truth of energy conservation is that electricity should not be used to produce heat, whether in a stove, water heater, or central heating. The exception to this is the microwave, which is the most efficient way to heat small amounts of food. Edward Harland’s book, ECO~RENOVATION: the ecological home improvement guide, an excellent resource for anyone interested in environmental renovations, provides this revealing chart: Fuel Kg of CO2 Emitted per Useful Kilowatt Delivered (approx. ) Gas 0. 7 Oil 0. 5 Coal 0. 40 Electricity 0. 83 As you can see, electricity is more than twice as polluting as a coal burning furnace. Electricity is even worse if you take into consideration the amount of energy created by nuclear power, which creates nuclear waste instead of carbon dioxide (CO2). There is also a significant amount of energy wasted in cooling power plants and lost in the power grid, which further degrades electricity’s viability as an environmentally sound energy source. As the chart shows, natural gas, or methane, is the cleanest burning fuel. While most of the natural gas used in America is drawn from non-renewable reserves, it can be produced renewably through biomass production, a method currently used by China. Methane is produced in massive quantities by decaying waste and agricultural operations, so much that methane is one of the most serious greenhouse gasses. If methane could be captured from these sources, we would be slowing the greenhouse effect and using clean-burning renewable fuel at the same time. For these reasons, if you have an aging or inefficient oil burning furnace, consider converting to an efficient natural gas furnace. Wood or pellet stoves still fuel many homes in America. Wood, if used wisely, is a renewable and relatively clean-burning fuel. While burning wood does produce CO and CO2, new technology allows wood stoves to reuse unspent output by re-burning it before emission. Pellet stoves, quickly replacing log-burning stoves, use pressed recycled paper and wood pulp that look like rabbit pellets. Pellets, while more expensive, are more efficient to burn and take up less space during storage. Before investing in a wood stove, however, be sure to investigate which brands are most efficient and emit the least gases and particulate. Also, wood stoves must be used carefully and maintained properly to avoid inefficient operation, excessive emissions, and leakage of carbon monoxide into the home. The best way to minimize the amount of fuel-produced heat your home requires is to insulate it properly. Insulation is the most important factor in the amount of energy required to heat your home. Consider a hypothetical home with 100% perfect insulation. This home would need to be heated only once, and never again. This puts into perspective the idea that we only need to heat our homes as much as heat escapes to the outside. Most houses in America are poorly insulated at best; only one in four houses have insulated walls. Consider the fuel savings if you increased your home’s insulation quality by even 20%, which in many cases is a realistic goal. Initially, insulation costs time and money, but it pays for itself quickly in reduced fuel costs and a warmer, more comfortable home. Unfortunately, the finer points of insulating a home are beyond the scope of this article. An excellent resource on maximizing your home’s insulation is Home Insulation by Harry Yost. Your local library should have, if not this book, several books on insulation that will at least get you started. Beyond updating your furnace and insulating your home, consider your personal use of heat in the home. The average American household’s temperature during the winter is slowly rising because of increasingly sedentary lifestyles and lighter dress. The healthier we eat and the more exercise we get, the more internal heat our bodies will produce. The more above the outside temperature a home is heated, the less efficient its heating system becomes. If we simply wear more clothes, we will need substantially less heat. Wearing sweaters and slippers, eating nutritious food, and getting plenty of exercise are simple but frequently overlooked ways we can reduce our heating energy needs. Next to furnaces and stoves, the air conditioner is the second most energy-hungry appliance in American homes. Unfortunately, air conditioners rely on lots of electricity, the most polluting form of energy available. The use of air conditioners should be avoided at all costs. If you live in a climate with extreme heat, consider your air conditioner and its placement carefully. The EPA has outlined efficiency standards for most household appliances, air conditioners included. Make sure, if you buy an air conditioner, that it has the EPA’s Energy Star mark of approval. This does not mean that the air conditioner is good for the environment, but that it uses its electricity efficiently instead of wasting it as many older models do. If you must have an air conditioner, purchase a small, efficient model and place it in a small, closed-off room where you spend most of your time. Make sure this room does not contain any heat-producing appliances like a washing machine or clothes dryer, and that sunlight does not enter through windows. Under these conditions, air conditioning can be relatively efficient and economical. Central air conditioning, on the other hand, is extremely inefficient and usually goes largely unused. Outside of heating and air conditioning, almost all of the energy used in our homes is electricity. Many Americans take electricity for granted, leaving unused lights and appliances on without thinking. A simple awareness in turning things off can greatly reduce our electric bills. Further, choices can be made in the kinds of lights and appliances we use, and whether they need to be used at all. As for lights, there are several high-efficiency bulbs on the market that, for slightly more money than a typical light bulb, can get by on a fraction of the electricity. Fluorescent lights, for instance, are five times more efficient than incandescent (typical) lights. Standard incandescent light bulbs use electricity to heat a filament that glows to create light, whereas fluorescent lights send very rapid and brief charges of electricity through a filament. The days of flickering long tube fluorescent lights are over. According to Edward Harland, new Compact Fluorescent Lights (CFLs) flicker at more than 20,000 cycles per second (compared to 60 in tube lights), are 30% more energy efficient than tube lights, and come on almost instantly. These lights, while more expensive, will significantly reduce your electricity bill and last five to ten times longer than standard light bulbs. Before even turning on the lights, make the best possible use of natural light in your home. Place your reading chair by a sunny window instead of in a corner facing out a window. Consider adding skylights to your home. These can create a surprising amount of natural light during the day, and contribute to your house’s heat during the winter. Mirrors strategically placed on walls can also make better use of light and heat from the sun coming in through the windows. Use only what electric lighting is necessary: low-wattage task lights for individual applications instead of high power lights to illuminate a large area. If you must use outdoor lights, consider purchasing a motion detector that will turn the light on and off only when it senses movement. When purchasing appliances, check to see that they are EPA Energy Star approved. These appliances use energy more efficiently than others. Most refrigerators, for instance, have compressors at their base which produce significant heat and cause the refrigerator to work against itself. During fair weather, consider drying clothes on a line outside instead of using a dryer, which inefficiently uses electricity to heat cold wet clothes. Your clothes will last longer, and you’ll see the difference in your electric bill. When undressing at night, ask yourself whether your pants can be worn again before washing. Americans, in particular, tend to balk at this sort of a suggestion. Allowing ourselves to think logically beyond social qualms and customs will allow each of our personal environmental movements to transcend many of our unsustainable habits. If you work in an office or at home, chances are your clothes aren’t that dirty at the end of the day. You’ll be surprised at the decrease in your weekly laundry load. The last big source of energy consumption in our homes is our favorite appliance of all. The average American household television is on 7 hours and 20 minutes per day, and 98% of all households have at least one television. At 170 watts per hour, that comes to 452,965 watt hours (or 453 kilowatt hours) of television use per year in an average household using one 25†³ television. Look at the breakdown of your electricity bill to put this number into perspective. You’ll see that America could save a lot of electricity and money by simply turning off the television. Instead, we can read a book, go for a walk or hike, work in a garden, or talk or play a game with our families. Quite simply, the less television we watch, the richer our lives will be, the less we will spend on electricity, and the more we will be doing for the environment. All of the information in this section has focussed on minimizing the use of energy in the home. Imagine if you could use electricity in your home without burning any fossil fuels and without any monthly electric bills. This is not only possible, but a reality for thousands of Americans. With one initial investment in a photovoltaic system (silicon cells that convert the sun’s light into electricity), you can end your dependence on polluting power companies and begin a new life of clean energy self-sufficiency. You can get started with a simple photovoltaic setup for a single zone of your home for less than one thousand dollars, or go all out with a top-of-the-line fully self-sufficient photovoltaic power center for about $13,000. If these prices sound high, consider the savings. If your monthly electric bill is $100, a top-of-the-line system that requires only a moderate degree of energy efficiency would be paid for in less than eleven years. And there is a whole spectrum of cheaper systems that can easily power a typical home. For less than four thousand dollars (paying for itself in about 3 years) the Real Goods Trading Corporation sells a system â€Å"designed to handle all the lighting, entertainment, and small kitchen appliances for a modest, energy-conserving household of one to four people in a full-time home. † This description is taken from the Real Goods Solar Living Source Book, 9th Edition. This seven hundred page tome covers everything from taking care of the land to water conservation and every alternative form of energy from solar to hydro to wind. It is a must-have for anyone who wants to live lightly on the earth, and is available at most major book stores and libraries. Recycling and Waste Management There is no environmentally sound method of dealing with the 200 million tons of municipal solid waste produced in America each year. There are many things we can do, however, to minimize, if not eliminate, our personal 4 1/2lb-a-day contribution to that figure. The now ubiquitous threesome, Reduce, Reuse, and Recycle, still defines what we all must do to bring our personal trash production down to a sustainable level. With the media and certain high-positioned nay-sayers claiming that recycling is worse for the environment than it is good for it, and laws making recycling just another stupid rule rather than a social imperative, perhaps a redux of America’s trash situation is called for. Households and other residences produce 100 of the 200 million tons of annually produced garbage in the United States. Most of that goes to land-fills, where it is covered up (if not purposefully sealed to prevent leakage) and starved of the oxygen needed for biodegradation. Here is just a taste of some garbage statistics from Geoffrey C. Saign’s well-researched book, Green Essentials: More than 1/2 of U. S. landfills have closed in the past 10 years, and nearly 1/2 of the remaining 5,800 landfills do not meet federal or state standards for human health and environmental protection. More landfills are being closed as they fail to meet 1993 and 1994 guidelines and as communities resist allowing new landfills in their area; 22 states will run out of landfill capacity within 10 years or less. The nation’s 10 largest cities use a land area for their garbage that is larger than the state of Indiana. And this is just landfills. Incineration is quickly becoming the chosen method of dealing with garbage. Incineration actually concentrates the toxicity of garbage by mixing volatile chemicals at high temperatures and reducing its harmless biomass content. Approximately 1/4 of the ashes produced in a typical incinerator escape into the atmosphere, where they combine with the toxic gases emitted to cause acid rain, smog, and global warming. The remaining ashes are highly toxic and dumped in landfills or stored in toxic waste facilities. A few states mix this ash with pavement, where it will slowly decompose and leach into the ground. The simple fact is that most of this waste could be recycled or composted instead of burned or buried. Green Essentials offers this breakdown of garbage ingredients by weight: Ingredient % by weight Alternative disposal methods available Paper and paperboard 34% Recyclable Yard trimmings 20% Compostable Plastic 9% Recyclable Food waste 9% Compostable Metals 8% Recyclable Glass 7% Recyclable Wood 4% Compostable, can be used as fuel Rubber and leather 3% Recyclable (tires) Textiles 2% Donate Other 4% As this chart displays, 58% (not counting the 3% for rubber and leather) of our garbage is recyclable; 33% of the remainder could be composted. That means that 91% of all the garbage produced in this country (that’s about 182 million tons annually) could be kept out of incinerators and landfills. Even a fraction of this ideal estimate would have a profound impact on the environment. Despite the amazing potential for waste reduction that recycling makes possible, The New York Times joined the media’s misinformed recycling myth extravaganza in their June 30th, 1996 article, â€Å"Recycling is Garbage. From the beginning, pessimists and special-interest industries have spread incorrect â€Å"myths† about recycling. These claims frequently charge (among other things) that landfill space is abundant and cheap; there is no market for recycled goods; and recycling doesn’t pay for itself. Consider the facts on these three points: Landfill space has become a precious commodity in the U. S. , with many states paying to export trash to other states or countries. Recall Geoffrey Saign’s statement that â€Å"22 states will run out of landfill capacity within 10 years or less. The market for recycled goods, while fluctuating like any burgeoning market, has increased with the amount of recycled goods available to create a powerful new industry. According to the Environmental Defense Fund, â€Å"U. S. pulp paper manufacturers have voluntarily built or expanded more than 45 recycled paper mills in the 1990’s, and are projected to spend more than $10 billion on such facilities by the end of the decade. † To argue that recycling doesn’t pay for itself is like arguing that landfills and incinerators don’t pay for themselves-of course they don’t. Recycling plants, even in the industry’s infancy, cost about as much to operate as conventional disposal methods, but are considerably more environmentally sound (costing less when environmental damage and cleanup costs are considered) and reduce pollution from manufacturing and mining for new production. Recycling is an easy thing to do, and good habit to get into as many towns and cities are requiring their citizens to recycle by law or charging by the pound for non-recycled garbage. First, find out what your town recycles by calling your local waste management facility. If your town or city doesn’t recycle or recycles only a few materials, consider getting a â€Å"recycling-only† dump permit for a near-by pro-recycling town or city. Next, reorganize your home’s main trash area to include receptacles for all the different materials you will recycle. Food containers like tin cans and bottles should be rinsed to keep your recycling receptacles from smelling. You’ll be amazed at the decrease in waste the next time you take out the trash. If we make a commitment to recycle our garbage, we must support the effort on the other end by buying recycled goods. Many products’ packaging claims â€Å"100% recyclable. † This is good, but keep in mind that it doesn’t mean the material is recycled. Look for the percentage of â€Å"post-consumer waste† to tell you if it is and how much of is recycled. Recycled products like paper and cardboard have come a long way in quality and price. Seventh Generation, a producer of a full line of 100% recycled and earth-friendly household products, posts a convincing advertisement on the side of their bathroom tissue packages: If every household in the U. S. eplaced just one 4-pack of 430 sheet virgin fiber bathroom tissues with 100% recycled ones, we could save 1 million trees, 4. 1 million cubic feet of landfill space (equal to 4,618 full garbage trucks), and 427 million gallons of water (a years supply for 12,300 families of four). About 33% of the garbage we produce, like food scraps and yard trimmings, can be composted. Composting is nature’s answer to garbage control, converting organic waste back into the soil it came from. While many people compost to create nutrient-rich soil for their garden, you don’t have to be a gardener to compost your organic waste. You should cover your compost pile, but not suffocate it. The organic waste needs plenty of oxygen to feed the microbes that decompose the matter. You can build a box for your compost, or buy one pre-made at your local garden shop. Look for an organic gardening book at your library for instructions on building a How to cite Environmental Revolution, Essay examples

Capital Asset Pricing Model

Question: Discuss about theCapital Asset Pricing Model. Answer: Introduction: The Capital Asset Pricing Model (CAPM) is a model which is used to describe the relationship between the risks and returns for assets such as stocks. Therefore in theoretical terms it enables to assess the required rate of return from a particular asset. It basically helps the investors to analyse and assess the profits they may gain from assets such as securities and whether a particular asset should form a part of their diversified portfolio or should be sold off from their portfolio. Therefore the said model enables the investors to take more informed decision with regards the assets which are very sensitive to the market movement and these risks cannot be diversified also. What isCapital Asset Pricing Model Capital Asset Pricing Model (CAPM ) was introduced so as to enable determination of prices of individual stocks and a portfolio as a whole. It was formulated by Jack Treynor in the year 1961 1962, William F. Sharpe in the year 1964, John Lintner in the year 1965 and Jan Mossin in the year 1966. Thus it was introduced by four eminent economists separately. One more version of CAPM was developed named Black CAPM by Fischer Black in the year 1972. The CAPM is required by a portfolio manager who helps the investors decide about their portfolio. His main work is calculation of the equity capital to a company. Thus the said method enables quantification of the expected perils and thus enabling conversion of the possible risks to expected returns on equity. The theory has various assumptions to be taken into consideration while calculating the expected return from the risks that the securities possess. Firstly it assumes that the financial markets is full of investors who are well informed, highly educated and are prudent buyers and sellers. Second assumption states that the investors are very much concerned about their money and expect to earn a premium for the extra risks they assume while investing(Fama, French, 2004). Thirdly all the investors are considered to be moving ahead towards the same period for planning their investments. Fourthly there are no taxes or concessions or commissions applicable. Lastly it is assumed that there is just one risk free rate and the investors borrow or lend in that rate only (Mullins, 1982). The formulae for calculating the return from a asset from the expected risks is : r* =kRF+b(kM-kRF) r*= Required rate of return kRF= Risk free rate kM= Average market return b= Beta Coefficient of security (Wogner, 2015) The said formula is also known as Security Market Line Formula. Relationship Between Security Market Line (Sml) And Capital Market Line (Cml) The Security Market Line is a line which correlates the return an investment fetches in relation to the risks attached. The measurement used for risk by the SML is beta. The SML diagram below clearly indicates that the line begins with nil risk attached to an investment and as the line is moving diagonally upwards the risk attached to an investment increases with an increase in the risk also. Thus risk and return are directly proportionate to each other. Therefore an investor with a low appetite for risk would prefer investing at the beginning of the SML and those with a higher risk appetite would prefer to invest at the middle or above that of the SML. However a change in the SML line is caused due to the risk premium expected by the potential investors. Thus a shift in the SML can occur if there are changes in the expected economic growth on a real time basis, the capital market conditions and the inflation rate (-, 2014). Therefore it can be very rightly said that in the world wherein CAPM is applicable all the assets are a part of the SML. The Capital Market Line (CML) is a line which portrays the rate of return of an efficient investment portfolio after taking into account the level of risks attached for a market portfolio and the risk free rate of return. Therefore this line basically speaks about not only the risks attached to a particular stock i.e. unsystematic risks but also how the risks affect the functioning of the overall market i.e. systematic risk. Thus whenever an investor build up his investment portfolio his basic idea lies to gain the maximum possible return with minimum possible risk attached. But the said idea situation does not exist always because of the attached volatility and unexpected performances and movements of the stocks, therefore increased risk can also lead to magnification of losses. Therefore the CML can be described diagrammatically as under: From the above two definitions it is clear that there exists a relationship between the SML and CML in a Capital Asset Pricing Model. Both the concepts are related to the extend that many a times the SML is said to be a part of the CML while calculating the risks associated with securities. The CML connotes the risk and the return for the entire portfolio of stocks whereas the SML reflects the risk and returns associated with individual securities which form a part of the overall portfolio. The measurement basis of risk is however not same. The CML uses the standard deviation and the SML uses beta. Therefore the capital market line focuses mainly on the performance of the overall portfolio whereas the SMLs focus is narrowed down to only individual securities. Advantanges of Capm The Capital Asset Pricing Model theory has various advantages and uses that enables the investors to decide upon which securities to buy and how to build up a healthy and a profitable portfolio. They are: The calculations offered by this model is the simplest and stress tested which provides a wide array of outcomes. This in turn builds confidence amongst the investors to invest in a healthy portfolio. Presence of a diversified portfolio helps to eradicate the unsystematic risk. This is the only model which takes into account the systematic risk. It is important to consider the said risk is an unforeseen risk which should not be neglected or ignored and should form a part of the risk assessment theory. Thus this method is considered to be the most reliable amongst all as it enables comparison of the companys performance with regards the market performance as whole (Sigman 2005). Lastly the said method is useful for appraisal of the investment portfolio as a whole as the discount rates offered by the said model is superior than those offered by other models. Due to this it establishes a strong linkage between return an investor expects from his investment and the systematic risk attached to the investment. Disadvantanges of Capm However, the said model has got criticisms also due to some disadvantages attached to it. The same are as follows: The said model does not consider the volatile nature of securities and uses a commonly accepted risk free rate on short term government securities without factoring in the changes that place in the yield on a daily basis. The assumptions basis which the said model stands is unrealistic. Such as finding of a security which is free from all the risks is very difficult in todays scenario. The next incorrect assumption is that the lending and borrowing rates are same which is highly impossible. Thus in such situations CAPM may fail to capture the risk of investment with the help of beta (Lee, Su, 2014). Beta is used to measure basis the past information. Analysis has proved that the beta of individual assets is unstable thus the past data are not strong indicators of the risk that the securities would pose in the future. Alternative Models The CAPM model is highly regarded and accepted world-wide, but there are other methods also used to determine the return against the risks attached to investments. Such as the Gordon DDM (Dividend Discount Model), Multi-Beta Models and Market Price Based model. These methods offer better methodologies of measuring risks and returns of the investments. Gordon DDM or the Gordon Shapiro Model: As per the said model the price of the stock is determined by taking out the net present value (NPV) of the future dividends per share that is likely to accelerate at a constant rate and that the growth rate will remain unaltered. Thus this model cannot be used where the dividend of the companies are erratic in nature or where the companies do not pay dividend only (Damodaran, 2015). Multi-Beta Model: Two alternatives fall under the Multi-Beta Models. The Arbitrage Pricing Model which is similar to the conservative portfolio theory but unlike the CAPM theory it takes into consideration multiple sources of market risk and each risk as a separate beta estimated to it. The second alternative to it is The Multifactor Model which uses the past information of the stocks in question and relates it to the specific macro economic variables and thus assigns beta to the individual companies against these macro economic variables (Krause, 2001). Market Price Based Model: There exists instability in the estimation of Beta which is highly volatile in nature. One of the alternative is to let go of the correlation fully and then estimate the price of stock by dividing the standard deviation with the average of standard deviation across all stocks. This method is a more stable method than the CAPM which uses Beta. Conclusion Thus on a concluding note it is clear that CAPM is a very age old model which investors and the portfolio managers have been relying upon. Yet the same has some advantages and disadvantages to it which cannot be ignored. Being the most tried and stress tested model economists prefer it even though it is based on assumptions which may seem to be unrealistic. As per my recommendation although various other refined models have come up yet the CAPM dominates. According to me a portfolio manager should use Capital Asset Pricing Model and over and above the same he could use other methods as well. The alternate methods are also acceptable but no model is full proof each have their own pluses and minuses which should be considered while analysing a portfolio. References: Damodaran, A., (2015), The Dividend Discount Model, Available at https://people.stern.nyu.edu/adamodar/pdfiles/eqnotes/ddm.pdf (Accessed 08th September 2016) Fama, E.F., French, K.R., (2004), The capital Asset Pricing Model: Theory and Evidence, Journal of Economic Perspectives, vol. 18, no. 3, pp. 25-46 Jylha, P., (2014), Margin Constraints and the Security Market Line, Imperial College Business School, Available at https://www.cbs.dk/files/cbs.dk/paper_petrijylha.pdf (Accessed 08th September 2016) Krause, A., (2001), An Overview of Asset Pricing Models, University of Bath School of Management, Available at https://people.bath.ac.uk/mnsak/Research/Asset_pricing.pdf (Accessed 08th September 2016) Lee, M.C., Su, L.E., (2014), Capital Market Line Based on Efficient Frontier of Portfolio with Borrowing and Lending Rate, Universal Journal of Accounting and Finance, vol. 2, no.4, pp. 69-76 Mullins, D.W., (1982), Does the Capital Asset Pricing Model Work?, Available at https://hbr.org/1982/01/does-the-capital-asset-pricing-model-work (Accessed 08th September 2016) Sigman K., (2005), Capital Asset Pricing Model (CAPM), Available at https://www.columbia.edu/~ks20/FE-Notes/4700-07-Notes-CAPM.pdf (Accessed 08th September 2016) Wogner, J., (2015), Capital Asset Pricing Model (CAPM): Definition, formula, Advantages and Example, Available at https://study.com/academy/lesson/capital-asset-pricing-model-capm-definition-formula-advantages-example.html (Accessed 08th September 2016)