Saturday, December 31, 2011

Financial Engineering

!±8± Financial Engineering

Financial Engineering is a new exciting branch which deals with creation, management and administration of new financial instruments based on new strategies. Engineering methodologies and mathematics are applied to derive solutions for financial issues. Applied Mathematics combined with financial theories tries to bring out solutions to finance problems.

This is all about creating new securities or processes, and designing new financial instruments, especially derivative securities. This new branch is also considered to be the process of employing mathematical, finance and computer modeling skills to make pricing, hedging, trading and portfolio management decisions. It utilizes various derivative securities and other methods and aims to precisely control the financial risk that an entity takes on. Methods can be employed to take on unlimited risks under certain events, or completely eliminate other risks by utilizing combinations of derivative and other securities.

Financial engineering can be applied to many different types of currencies and pricing options. These include equity, fixed income such as bonds, commodities such as oil or gold, as well as derivatives, swaps, futures, forwards, options, and embedded options. With financial engineering come many risks. Risks are divided into market risk and credit risk. Market risks can be managed using risk identification, risk measurements, and risk management. Credit risks can be managed using credit modeling and credit pricing.

To become a financial engineer, one must have a strong understanding of financial economics, mathematical tools such as probability and statistics and differential equations, as well as have engineering principles such as software engineering.

Financial engineering is normally employed in the securities and banking industries. Mutual Funds and Share broking agencies deploy lot of the state of the art Financial Engineering tools and softwares to handle client accounts and carry out client instructions.

Financial Engineering is a fast growing arm of financial economics and is playing a stellar role in bringing discipline and safety to the high-risk profile Securities trade and business. It is interesting to note that Financial Engineering professionals today earn some of the highest pay checks in the industry thanks to their specialized skills and much-needed expertise.

It is to be born in mind that the arrival of this new exciting branch of engineering has already helped and is set to help many sectors in a big way. Besides bringing in the factors of security and stability to the shaky financial empire, this branch can really enable the tracking and storing of valuable financial data without the risk of being stolen or hacked.


Financial Engineering

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Friday, December 16, 2011

From Dynasty to Destiny: Ten Celebrated Inventions of Ancient China

!±8± From Dynasty to Destiny: Ten Celebrated Inventions of Ancient China

In the last two centuries, new cultural discoveries have nearly rewritten history. It's been an exciting time, full of adventure and surprises. Around every corner there are new responses to questions we had already imagined answered. And of these breakthroughs, none shines as brightly as the impact of ancient Chinese inventions on modern life. As we explore ten of the greatest inventions and innovations of Ancient China, you may be surprised at their influence on recent technology.

1. Paper. Paper, as we know it, was invented in China around the year 105. After seeing earlier attempts made from silk, bamboo sticks and animal skins, Cai Lun came up with his own idea. After mixing mulberry bark, rags, wheat stalks and other stuff, a pulp formed. This pulp was pressed into sheets and dried, becoming a crude form of paper. Paper was such an important invention that the process of making it was a jealously guarded secret. The secret was safe until the seventh century when the art spread to India.

2. The Printing Press. Before Johann Gutenberg "invented" the printing press in the 1440's, China created a type of printing press between 206 B.C. and A.D. 45. It was made using stone tablets to create a "rubbing" of famous Buddhist and Confucian texts. Next came block printing in the Sui Dynasty. In block printing, images and words were engraved on wooden boards, smeared with ink and pressed onto sheets of paper. Later, moveable type printing presses were introduced. According to the authors of Ancient Inventions, "By A.D. 1000, paged books in the modern style had replaced scrolls - a good 450 years ahead of Gutenberg."

3. The First Book. Due to the early advent of the printing press, China also claims the first book. In 868, almost six hundred years before the Gutenberg Bible, the earliest known book was printed. By the end of the Tang dynasty, China had bookstores in almost every city.

4. Paper Money. While today you'd rather carry a lot of cash instead of coin, that hasn't always been the case. The idea of paper currency was first attempted under Emperor Han Wu-Ti (140-87 B.C.) after war had drained the treasury. He issued treasury notes, worth and in exchange for 400,000 copper coins. Instead of paper, the Emperor used the skin of the white stag. But the creature was so rare that the idea soon lost appeal. In the early 800's, the idea revived to deter highway robbers. In 812, the government was again printing money. By the year 1023, money had an expiration date and was already plagued by inflation and counterfeiting. Nearly six hundred years later paper money headed west, first printed in Sweden in 1601.

5. The Abacus. Well before Texas Instruments, the first calculator was in the works. The abacus dates from around the year 200 B.C. It is a very advanced tool with a simple design. Wood is crafted into a rectangular frame with rods running from base to top. About 2/3's from the base, a divider crosses the frame, known as the counting bar. On each of the rods are beads. All of the beads above the counting bar equal five. Those below equal one. The rows of rods are read from right to left. The furthest bar to the right holds the one's place, the next holds the ten's place, then the hundred's, and so on. While its design may sound complex, there are some Chinese today so skilled that they can solve difficult math problems faster than someone using a calculator!

6. The Decimal System. In the West, the decimal system appeared quite recently. Its first believed instance was in a Spanish manuscript dated around 976. But, the first true example goes back much further. In China, an inscription dated from the 13th century B.C., "547 days" was written as "five hundred plus four decades plus seven of days." The Chinese likely created the decimal system because their language depended on characters (like pictures) instead of an alphabet. Each number had its own unique character. Without the decimal system, the Chinese would have had a terrible time memorizing all of these new characters. By using units of ones, tens, hundreds, etc., the Chinese saved time and trouble.

7. The Mechanical Clock. In the year 732, a Buddhist monk and mathematician invented the first mechanical clock. He named it "Water-Driven Spherical Bird's-Eye-View Map of the Heavens." Like earlier clocks, water gave it power, but machinery cased the movement. But, after a few years, corrosion and freezing temperatures took their toll. It wasn't until 1090, when astronomer Su Sung designed his mechanical marvel "Cosmic Engine", that a more dependable timepiece was made. Created for Emperor Ying Zong, this clock had a tower over 30 feet tall. It housed machinery that, among other things, caused wooden puppets to pop from one of five doors at regular intervals throughout the day. (Much like the modern idea of a Cuckoo clock.) The entire machine was powered by a giant waterwheel. This clock ran until 1126, when it was dismantled by the conquering Tartars and moved to Peking for another several years. The first clock reference in Western history was in 1335, in the church of St. Gothard in Milan.

8. The Planetarium. A planetarium is a big enclosed space that shows the stars and constellations on the inside. Orbitoscope was the name of the first projection planetarium. It was built in Basil in 1912 by Professor E. Hinderman. But, once again, China is the mother of this invention. The first planetarium is attributed to the design of an early emperor. As one source states, an astronomer named Jamaluddin created a planetarium during the Yuan Dynasty (1271-1368), along with a perpetual calendar and other important astronomical devices.

9. The Earthquake Sensor. The earliest earthquake sensor was also an interesting piece of art. It was a bronze cylinder about 8 feet around, with 8 dragons perched above 8 open-mouthed frogs. In the mouth of each dragon rested a bronze ball. When an earthquake struck, a pendulum inside the cylinder would swing. It knocked the ball from the mouth of the dragon and down into the frog's mouth. That frog's back was then facing the direction of the center of the quake. Chang Heng invented it in A.D. 132 (during the Han Dynasty), almost 600 years before the first western sensor was made in France. Later, in 1939, Imamura Akitsune recreated the invention and actually proved it effective.

10. The Helicopter Rotor & Propeller. While the Ancient Chinese didn't actually invent the helicopter, they were involved in its creation. In the 4th century A.D., they invented a toy called the "Bamboo Dragonfly". You've probably seen them as prizes at local fairs or carnivals. It was a toy top, with a base like a pencil and a small helicopter-like blade at the end. The top was wrapped with a cord. When you pulled the cord, the blade would spin around and soar into the air. This toy was studied by Sir George Cayley in 1809 and played a role in the birth of modern aviation. It wasn't until the early 1900's that the first helicopter took flight.

It is sometimes a mind blowing thing to realize that what seemed to be modern ideas or inventions are much older than we'd imagined. And it's likely that there are more inventions to be discovered. More historical changes to be made. In the conclusion of The Greatest Inventions of the Past 2,000 Years, Jared Diamond summed it up well while referring to the changing view of history and its inventors, "So, forget those stories about genius inventors who perceived a need of society, solved it single-handedly, and thereby transformed the world. There has never been such a genius........If Gutenberg hadn't devised the better alloys and inks used in early printing, some other contemporary tinkerer with metals and oils would have done so......do give Gutenberg some of the credit---but not too much."

Questions:

1. Choose one of the inventions mentioned. Explain how different the world would be if it hadn't been invented.

2. Why do you think there was such a large space of time between the Eastern and Western dates of invention?

3. What are two other inventions that came from ancient China? Research and find out when the idea was introduced to Western culture.


From Dynasty to Destiny: Ten Celebrated Inventions of Ancient China

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Monday, December 12, 2011

Best Graphing Calculators

!±8± Best Graphing Calculators

The Casio Company created the world's first graphic calculator. Since that time other companies have followed by creating many different versions of the fx-7000G the original graphic calculator. Hewlett Packard known for making many calculators created a number of models in the 90's. The graphic calculator once a handheld instrument was soon to become a part of the notebook genre. Now you can find graphing calculators on the internet with ease and use the system for free.

Many people like the ability to have the program so you can buy your own program and down load to your notebook or computer or perhaps you just prefer the ones that are available for use online. You still can use the handheld models for what purpose you need. The newer models like the current HP 50g (2006 model) because it features a Computer, Algebra System (CAS) capable of manipulating symbolic expressions and analytic solving.

The graphing calculator primarily meant for the professional science/engineering markets is still available for the professional; however, it has been made in a simpler mode to enable the high school and college students to train for the professional world. Texas Instruments produced models that are capable of keeping larger amounts of memory for the professional. Texas Instruments created a graphic calculator that is geared just for the 10-14 year olds in order for a student to start at an early age using the system. It is important to start early using a graphic calculator most educators claim in order to be more proficient when you are older and in a higher grade level.


Best Graphing Calculators

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Saturday, December 3, 2011

Texas Instruments 89TVSC/CBX/1L1/A TI89TITANIUM Viewscreen Calculator

!±8± Texas Instruments 89TVSC/CBX/1L1/A TI89TITANIUM Viewscreen Calculator

Brand : Texas Instruments | Rate : | Price : $0.00
Post Date : Dec 03, 2011 21:24:36 | Usually ships in 24 hours

Texas Instruments Instruments ViewScreen TI-89 Titanium Overhead Calculator 89TVSC/CBX/1L1/A Calculators reaches speeds of over 300MB/s Superior Specs – Powered by an Intel Core 2 Duo processor & featuring 4GB of high-speed DDR2 memory Ready for the Future – PCI-e slot.

  • Breakthrough Performance - unprecedented data performance, reaching speeds of over 300MB/s
  • Superior Specs - Powered by an Intel Core 2 Duo processor & featuring 4GB of high-speed DDR2 memory
  • Ready For the Future - PCI-e slot; Add optional 10Gb Ethernet adaptor for blazing performance
  • Unique Dual DOM Design - equipped with a dual Disk On Module (DOM)
  • Maximum Flexibility & Expansion - storage expansion with its stackable feature.
  • Connect up to 5 N7700PROs. SCSI ready & support for multiple file systems including Ext3, XFS & ZFS

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