Copyright Laws in Education

Copyright Laws in Education Abstract This paper is to give information on the copyright laws, Fair Use Act and the obligation of the classroom teacher to follow copyright laws. Within the paper, you will find different copyright laws and the reflection of that case or law. Lastly, you will read how important it is for teachers to understand copyright laws and how they can affect the teacher. I hope this paper gives the information needed to give the basic of Copyright Laws and background to the development of the Copyright laws. According to the Association of Research Libraries, the history of the Copyright law originated with the introduction of the printing press to England in the late fifteenth century (ARL 2017). Due to the rising number of printing presses, publication needed to be controlled. Across Europe, book growth exploded and there was an immediate need for protection of the rights of both the author and publisher from the earliest of literary pirates (HOC PP1). Per De Montfort University, copyright is a term used to define the legal property right subsisting in various works which result from the intellect of the creator. There were many laws created for copyright to not happen: 1787- U.S Constitution, 1790- Copyright Act, 1853- Stowe Vs. Thomas, 1891- International Copyright Treaty, 2005- Family Entertainment and Copyright Act. These were passed to ensure that no person was accused of copyright infringement. History of Copyright Laws Why they were passed A few laws that I will share are: 1787, this was when the acknowledgement of copyright was placed into the United States Constitution. According to the U.S Constitution, it states that the authors and inventors would have their work secured for a limited time and could be renewed every fourteen years (ARL.org). In 1790, the first copyright law was passed, this secured maps, charts, and books of authors. According to the ARL, it granted American authors the right to print, reprint, or publish their work. For the next copyright law, I wanted to share Stowe vs Thomas in 1853. I love books so why not share a case that shows how copyright laws affect individuals. Harriet Beecher Stowe sued a German publisher by the name of F.W Thomas (ARL). Beechers book, Uncle Toms Cabin, was translated into German and sold in the United States without Beechers permission. So, even though you did not take the words to make them your own, there are still consequences for the actions taken. As shown on ARL .org, copyright can happen to anyone and anywhere. With that being said, profits could not be made in European countries. Authors, publishers and printers joined together to support international copyright (ARL, Vaidhyanathan 50-55). Now for the last one that everyone knows and see every time they watch a movie. Per ARL, the Family Entertainment and Copyright Act was enacted in April of 2005. This copyright law was created to give criminal penalties to individuals who may have recorded a movie while in the theater or those who may stream movies illegally. These laws were passed to ensure safety to not only authors, and publishers but also to ensure that individuals do not face future criminal charges. Fair Use Act How it applies to Teachers What is the Fair Use Act? According to the OCPS.net, Fair Use lets copyrighted material be used under certain guidelines, without the copyright holders permission, for purposes such as news reportings, teaching, research, criticism and parody. As far as teachers are concerned, though the Fair Use Act is in place, they should still consider taking the appropriate actions when using information that does not belong to them. Classroom teachers often photocopy readings and worksheets. Did you know that it could be copyright infringement if you make too many? According to Brighthub Education, if you are sued for copyright, you can use the Fair Use Act to your defense. The court would use the following factors: The purpose and character of the use The nature of the copyrighted work The amount and substantially of the portion used The effect of the use upon the potential market for or value of the copyrighted work. Teachers Ethical Obligation to follow copyright laws According to Auburn.edu, teachers are constantly faced with opportunities to uphold or violate copyright laws. As an educator, you are to be professional and uphold your duties are a professional educator. One of the consequences could be termination of your job if you are found guilty of copyright infringement. It is important that teachers are aware of what constitutes Fair Use and abide by the rules set forth by their school system (University, 2017). Teachers are at the center of growth of technology. Teachers are faced with so many problems related to copyright laws. (University, 2017). As per Auburn.edu, teachers must be the role model for their students and educate them on copyright laws and what they can do to avoid copyright infringement. We as future educators, are the heart and soul of children learning. We give them the skills they need to use in life and to further their education. Throughout school, students will continue to write essays and be state tested on how they write. They want to give forth their best effort, as their teacher, you are the one who gives them this skill. Part of my personal ethics as an educator, I will strive to give my children the correct knowledge not only for everything education but copyright. References (n.d.). Fair Use | Association of Research Libraries ® | ARL ®. Retrieved February 22, 2017, from http://www.arl.org/focus-areas/copyright-ip/fair-use#.WK2_djsrLIU Copyright and Fair Use for Teachers. (n.d.). Retrieved February 22, 2017, from https://www.ocps.net/lc/east/htc/mediacenter/Documents/FairUse. Explaining Copyright Law and How It Applies to Teachers: What You Need to Know About Fair Use, Making Copies More. (2015, August 31). Retrieved February 22, 2017, from http://www.brighthubeducation.com/teaching-methods-tips/6623-understanding-copyright-law-and-fair-use-for-teachers/ Home. (n.d.). Retrieved February 22, 2017, from http://www.historyofcopyright.org/index.html Welcome to the Digital Citizenship. (n.d.). Retrieved February 22, 2017, from https://www.auburn.edu/citizenship/index.html

Case Study Practicum In Educational Leadership Education Essay

Leadership is an indispensable ingredient for guaranting that every kid gets the educaA ­tion they need to win. Indeed, instruction leading has been called the â€Å" span † that can convey together the many different reform attempts in ways that practically nil else can. Teachers are on the front lines of acquisition. But principals at the school degree, and superintenA ­dents at the territory degree, are unambiguously positioned to supply a clime of high outlooks, a clear vision for better instruction and acquisition, and the agencies for everyone in the system – grownups and kids – to recognize that vision. As one principal late put it, â€Å" It is non merely about being an decision maker, it ‘s about being instructional leaders. † Experience to day of the month has taught us: that in order to acquire the leaders we want and need in every school, it ‘s non plenty to better their preparation, every bit pressing as that is. Different topographic points and territories besides need to make: Standards that spell out clear outlooks about what leaders need to cognize and make to better direction and acquisition and that form the footing for keeping them acA ­countable for consequences ; and Conditionss and inducements that support the ability of leaders to run into those criterions. These include the handiness of informations to inform leaders ‘ determinations ; the authorization to direct needful resources to the schools and pupils with the greatest demands ; and poliA ­cies that affect the enlisting, hiring, arrangement and rating of school leaders. Each of these nucleus elements for better instruction leading is critical. But what is every bit imporA ­tant is that territories need to work much more closely together in making more supA ­portive leading criterions, preparation and conditions. To make, in other words, what we ‘ve come to name a cohesive leading system. We need leading to hammer all of the assorted elements of today ‘s school reform attempts into a well-functioning system that makes sense for those working difficult to accomplish consequences for kids. A well-functioning system means non merely improved preparation – but â €Å" a more consistent web of support for strong, learning-focused leading in schools and school territories. Partial solutions – like new functions without the authorization to transport them out, or more focal point on larning without seasonably informations on consequences – are likely to take to failure. â€Å" The world is that if we continue to set good leaders into a bad system, we will besides hold to go on to wager on a system that has failed to function far excessively many kids. † We ‘re still at the beginning of this national journey to better school leading that can do a mensurable difference in raising pupil accomplishment across full school territories and provinces. However, the corporate work over the past eight old ages has given us a batch to construct on, and we must go on this work with even greater urgency. As Aristotle reminds us, â€Å" All who have meditated on the art of regulating worlds have been convinced that the destiny of imperiums depends on the instruction of young person. † Effective principals encourage others to fall in in the decision-making procedure in their schools. â€Å" Influence in schools is non a fixed amount or a zero-sum game. † Research workers have examined leading accomplishments from a assortment of positions. Early analyses of leading, from the 1900s to the 1950s, differentiated between leader and follower features. Finding that no individual trait or combination of traits to the full explained leaders ‘ abilities, research workers so began to analyze the influence of the state of affairs on leaders ‘ accomplishments and behaviours. Subsequent leading surveies attempted to separate effectual from non-effective leaders. These surveies attempted to find which leading behaviours were exemplified by effectual leaders. To understand what contributed to doing leaders effectual, research workers used the eventuality theoretical account in analyzing the connexion between personal traits, situational variables, and leader effectivity. Leadership surveies of the 1970s and 1980s one time once more focused on the single features of leaders which influence their effectivity and the success of their organ isations. The probes led to the decision that leaders and leading are important but complex constituents of organisations. Teacher leading has been seen in traditional functions such as section caputs, textbook acceptance commission presidents, and brotherhood representatives. In add-on to being restricted to these three countries, â€Å" traditional leading chances for instructors are highly limited and by and large serve an efficiency map instead than a leading map † . However current educational reforms prompt a reconsideration of teacher leading. Reforms such as site based direction and restructuring attempts include broader functions for teacher engagement and leading. Current teacher leading functions are affecting instructors as wise mans, squad leaders, course of study developers, and staff development suppliers and intend to â€Å" better the quality of public instruction while leting instructors greater leading in the development of those betterments † . These functions involve instructors in decision-making procedures and facilitate instructors going leaders of alteration. Nickse ( 1977 ) studied instructors as alteration agents and advocated instructors in leading functions in alteration attempts for four grounds: instructors have a vested involvement, â€Å" they care about what they do and how they do it and experience a sense of duty for their attempts † ; instructors have a sense of history, they are â€Å" cognizant of the norms of their co-workers † ; instructors know the community, â€Å" have information refering the values and attitudes of the community † and instructors can implement alteration, they â€Å" are where the action is. . .in the place to originate planned alteration on the footing of demand † . Yet despite these grounds and efforts to advance instructors as leaders of alteration and to widen teacher leading functions, instructors do non see themselves as leaders. However, the informations on leaders of educational alteration and the emerging information on instructor leading indicate that the features of these persons mirror those of leaders who have changed other organisations. Leaderships of educational alteration have vision, further a shared vision, and value human resources. They are proactive and take hazards. In add-on, they strongly believe that the intent of schools is to run into the academic demands of pupils and are effectual communicators and hearers. Leaderships of educational alteration have vision ; foster a shared vision, and value human resources. They are proactive and take hazards. School leaders are originative visionaries willing to take hazards in chase of precious values and able to cleaving to a vision with a doggedness that is contagious to about everyone † . The importance of principals holding a vision besides appears in the literature refering instructional. Principals have a vision — a image of what they want their schools to be and their pupils to accomplish. â€Å" Leadership requires a vision. Without a vision to dispute followings with, there ‘s no possibility of a chief being a leader † . The vision provides counsel and way for the school staff, pupils, and disposal. â€Å" Supplying vision and way for the school † as a constituent of instructional leading. Principals keep their â€Å" vision in the head † . â€Å" Associated with a vision has to be a program, a manner of making the end † . The footings â€Å" mission † and â€Å" goal-oriented † are frequently used in literature to depict this feature of principals. The school decision makers ‘ values and beliefs form her or his vision. Vision influences the school clime which includes instructors ‘ instructional behaviours every bit good as pupil results. While decision makers ‘ visions tend to concentrate on district- or school- broad instructional issues, instructors ‘ visions tend to turn to instructor functions and pupil results. Murphy, Everston, and Radnofsky ( 1991 ) discussed instructors ‘ sentiments on restructuring and found that while instructors agreed with the literature refering restructuring, they emphasized the pupil and instructional issues. These instructors ‘ visions included alterations in the schoolroom, such as interdisciplinary course of study, varied pupil grouping forms, and direction that included basic literacy every bit good as â€Å" critical thought, creativeness, curiousness, and independency of idea † ( Murphy, Everston, & A ; Radnofsky, 1991, p. 144 ) . Teachers ‘ vision besides included school alterations that would ensue in more participatory and decision- devising functions for instructors. School decision makers that have developed a shared vision with their mod ule have besides created common land that serves to ease or oblige action to the realisation of this common vision. The relationship between the instructors ‘ and decision makers ‘ vision is of import. Administrators ‘ vision tends to embrace the whole system. Teachers ‘ vision appears to concentrate chiefly on the person or personal actions for school alteration. However, closer scrutiny of the two — instructors ‘ and decision makers ‘ visions — may uncover that both groups of pedagogues are looking at the same vision but go toing to different facets. School decision makers that have developed a shared vision with their module have besides created common land that serves to ease or oblige action to the realisation of this common vision. Frequently underlying a shared vision are instructors ‘ and decision makers ‘ shared values and beliefs, specifically believing that schools are for pupils ‘ acquisition.School ContextA High School with more than 1500 pupils coming largely from low income population countries. You can happen instr uctors unwilling to join forces and work in squads, pupils underachieving and unsupported. The aim is to hold all the school members worked together to do the school a high- achieving acquisition environment where the civilization of the pupils is valued and supported. Through teamwork, staff development, and a uninterrupted focal point on pupil acquisition, the staff and principal will implement new instructional techniques, tight the course of study, and better accomplishments. Teachers will seek new attacks in their schoolrooms. They will see each other ‘s categories monthly to detect, discourse, and give feedback in an informal signifier of equal coaching.Implementing changes/MethodologyMany instructors remain unconvinced by the rule of inclusion. Collaborative action research can pull more instructors into the exciting challenge of prosecuting all their students in larning. Teachers should hold ownership of the research and work collaboratively and there should be a focal point on the effects of their pattern on students ‘ acquisition and engagement. The alteration procedure through which schools and bunchs are supported and work to better their acquisition and instruction is the sequence of events and actions taken by instructors, working as a squad, to better acquisition and instruction in the school. The Principles are cardinal to this ; they provide the focal point and are a mention point for speaking about acquisition and instruction and clarifying ends and school-based enterprises. The alteration procedure is designed to ease locally based determinations about acquisition and instruction. The action program is an in agreement place generated at the school degree about actions related to pedagogy that the school will set about to convey about alteration. These determinations are determined by the peculiar and single conditions and ends of each school, determinations that merely the school can do. The action program includes monitoring processes that aid instructors refine their instruction attacks and measure whether the alt erations lead to improved pupil results. For bunchs set abouting this plan, the school action program sits within a broader bunch program. The relationship between the bunch and school planning and organisation will be different for each bunch, depending on local conditions. Supporting actions: These are actions that are indispensable for the planning and execution of alteration enterprises to be successful. For illustration, experience has shown that organisational agreements such as time-tabling and room allotment must be attended to. Strategic coverage within and beyond the immediate school/cluster community can significantly heighten support for the plan and the committedness of the squad. Infrastructure support: Implementing the alteration procedure assumes and depends upon a set of meshing constructions to back up schools and bunchs. These include: aˆ? support from DE & A ; T and critical friends who work with the school, supplemented by bunch and regional web agreements including workshops aˆ? entree to local expertness, including the Cluster Coordinator aˆ? tools such as interviews and questionnaires for rating aˆ? professional development through preparation workshops for PoLT ( Principles of Learning and Teaching ) and Cluster Coordinators, the PoLT modular and on-line Professional Learning resources, and other professional development support provided by the PoLT and/or Cluster Coordinator. Within the School Accountability and Improvement Framework, schools are encouraged to reflect on their current organisational sustainability, along with their current operations and patterns, to place and develop the cardinal schemes required to accomplish the coveted pupil results. At the bosom of the new model is a set of inquiries that will help schools to concentrate rating and planning procedures on improved results for all pupils: 1. What results are we seeking to accomplish for our pupils? 2. Where are we now? 3. What do we hold to make to accomplish the results we want? 4. How will we pull off our resources to accomplish these results? 5. How will we cognize whether we are accomplishing these results? The planning stage is critical to the success of the undertaking in the school. Developing an action program requires considerable idea and attending, and will likely take a full term in the school twelvemonth to finish. The chief stairss in developing the action program are:aˆ? scrutinizing acquisition and instruction patterns in the schoolA scope of information is collected from pupil studies, teacher interviews, analyses of the school course of study and resources, PoLT squad procedures and relevant policies and enterprises in the school. This information will concentrate treatment on appropriate waies to take.aˆ? reviewing and prioritisingThe cardinal issues are analysed and enterprises and ends are identified.aˆ? developing and composing the action programThe PoLT action program should stipulate a scope of actions to be taken by the PoLT Coordinator and instructors at assorted times during the execution procedure to reply these inquiries and better acquisition and in struction. PoLT action planning will be an built-in portion of the School Strategic Planning procedure.Memoranda – LetterssBeloved Parents and Friends:As the new Principal of High School, it has been my sincere pleasance and award to go a member of this great school community. High School enjoys a rich history of academic and cultural excellence that is the consequence of a collegial partnership between the school staff and parents who provide a diverseness of experiences for the pupils. During my first hebdomads in the territory, I have so found this close working relationship and concentrate upon what is best for kids to be. I am genuinely honored to be appointed to this place and am looking forward to working with the dedicated staff to supply the best possible educational plan for our pupils. Before coming here, my professional calling was wholly within the XYZ School for many old ages. I held the places of instructor, chief, staff trainer of engineering, and cardinal office decision maker. I am really aroused to be a portion of the High School household and to closely work with everyone to do our school even better. My greatest enterprise is to supply the leading that will ease a school environment to supply differentiated direction to run into the demands of each pupil to the best of our ability. The educational plan must be academically ambitious, prosecute each pupil by associating the course of study to old cognition and experience, and besides be exciting to advance farther geographic expedition of new thoughts. Parents, instructors, support staff, and disposal all have an of import function to promote our kids to go active scholars. It is my sincere desire to supply expanded chances for our pupils to get the accomplishments to go productive citizens in a immensely altering society. Through a stopping point and collegial partnership with everyone associated with High School, I am confident we can do our school an even a better topographic point for our pupils to larn and turn. Respectfully, PrincipalBeloved Teachers/Students/Parents,Let me be the first to state Welcome back to school! † And, if this is your first twelvemonth at High School, Welcome to our school! † I am honored to be the Principal for High School! As many of you already know, my name is ABC decision maker. Bing selected as the new High School Community Schools is exciting. I must state I choose to come here because of the fantastic staff and pupils that make up this school territory. For our pupils † was besides a finding factor. I want you to experience welcome to halt by school whether it ‘s to volunteer, hold tiffin with your kid, or merely state hello. I believe it is of import for your kids to and I will work hard to do certain that happens. You will often happen me at tiffin with the pupils or in schoolrooms throughout the school. I hold myself accountable for being a seeable presence in the schoolrooms, hallways, and extra-curricular events. My hope is that you and your ki d will happen me as accessible and easy to talk to and that you wo n't waver to reach me if you of all time have inquiries, concerns, or you merely want to portion good intelligence about our school or your kid. I would wish to shut by one time once more stating you how much I am looking forward to working with the parents, pupils, and staff at High School. Thank you for the chance to work with your kids. I am genuinely esteemed. Sincerely, High School Principal

Nigerian Economy: Macroeconomic Analysis

sisNigeria – Country Report 2012 61310039 Indian School of Business 7/6/2012 Contents Economic Overview3 Gross Domestic Product (GDP)3 GDP Composition4 Inflation4 Shadow Economy5 Trade Overview5 Foreign Debt7 Labor Market & Human Capital7 Population and Income Inequality8 Unemployment9 Currency10 Money Supply and Monetary Control10 Fiscal policy12 Exchange rates12 Interest Rates13 Foreign Direct Investment14 Globalization and Comparative Advantage14 Conclusion15 References16 Economic Overview Nigeria's economy is estimated to be worth about $262bn, making it one of the largest economies in Africa.The estimates and analysis of various indicators is discussed in the later sections. The country has fared better than many other countries during the global economic downturn, but systemic problems in infrastructure and the labor market mean that its position in the Economist Intelligence Unit's global rankings remains towards the bottom during the forecast period, at 75th out of 82 countries. Efforts to create a significantly more attractive business environment are likely to produce only modest results owing to the slow pace of more fundamental reforms. Nigeria has taken steps to simplify trade by working on its tariff structure.However, there is still a protectionist sentiment in the country. Cross border smuggling is still a major concern and is liable to remain an important feature of the Nigerian economy. The capacity and efficiency of Nigerian ports (Trade) have improved following the implementation of an ambitious concessioning program that transferred management of terminals to private operators. However, although the reforms have improved port operations and ship turnaround times, there remains the problem of corruption in the customs service, which can complicate and delay the clearance of goods. Gross Domestic Product (GDP)The latest GDP projection data as brought out by World Bank is $ 268. 5 billion (2013 F) and the country population is projected at 175 million translating into a GDP/Capita to 2,213. The Real GDP Growth for Nigeria has been at 6. 8 %. However, considering the disparity in the country’s infrastructure viz-a-viz other Asian developing nations the growth rate is not enough for substantial improvement. Nominal GDP| 2007| 2008| 2009| 2010| 2011| 2012(F)| 2013(F)| US$ bn| 166. 5| 208. 1| 169. 4| 196. 3| 244. 2| 262. 4| 268. 5| N bn| 20,941| 24,665| 25,225| 29,498| 37,590| 42,877| 46,720| Real GDP growth %| 6. | 6| 7| 7. 8| 7. 4| 6. 4| 6. 9| Source: Economic Intelligence Unit| GDP Composition In Nigeria, the Investment component of the GDP as compared to the private consumption and government is very low, hovering at 17 % approximately. A developing market is required to invest around 40 to 50% of GDP in capital investment for successive number of years. However that is not seen with Nigeria. Hence, the prospect of Nigeria as an investment destination appears to be grim in the near future. | 2007| 2008| 200 9| 2010| 2011| 2012 F| 2013 F| Private consumption| 6. 6| -34. 3| 6. 4| -26. 7| 11. 8| 9. | 10. 4| Government consumption| 90. 8| 4. 4| -8. 1| 17. 8| 12| 8. 5| 8| Gross fixed investment| 24. 5| -6. 8| 9. 1| -3. 6| 6. 5| 6| 6. 5| Exports of goods & services| -11. 7| 43. 4| -30| 11. 4| 11. 9| 10. 4| 12. 4| Source: Economic Intelligence Unit| The graph below gives the GDP contribution – Industry wise for Nigeria. Crude is one of the major contributors to the GDP. Hence, and rate fluctuations in the price of crude oil have added volatility in the Nigerian GDP. Inflation Despite monetary tightening carried out by the CBN in 2011, the forecast for inflation remains negative.Inflation is expected to increase to 12. 7% in 2012. Fiscal laxity by the states is one of the main reasons for this. In addition, the payment of the newly instituted minimum wages and the injection of funds into the bailed out banks, inflationary pressure is bound to continue for the rest of the year. It is exp ected moderate only in 2014 as a result of moderation in commodity prices. The April 2012 inflation data as obtained shows a Month-on-month inflation to be (0. 13%), Year-on-Year (12. 9%), 12-Month Avg. Chg. (11. 1%). The inflation rate is exceedingly high and is detrimental towards investment in the country.The Consumer Price Index and Nigerian Inflation rate is shown below. Source: Economic Intelligence Unit Shadow Economy The untaxed and unregulated revenues – by some estimates – account for between 40% and 45% of gross domestic product (GDP). Nigerians make most of their living, as street hawkers, minibus drivers, money changers or market traders. In spite of the abysmal performance of the country’s economy, poor infrastructure and unfriendly business environment Nigeria has huge potentials to be tapped because of its huge deposits of Natural Resources nd population that can be gainfully employed. The black economy accounts for a large part of the Nigerian e conomy. Trade Overview Nigeria has considerable natural resources such as oils, and the revenue from oil exports forms a major chunk of the Government fund. Nigeria has recently started a sovereign wealth fund and the excess returns from oil exports viz-a-viz projected returns is directed to this sovereign fund. This fund is building up at a slower pace as the revenue is being directed towards meeting government excess spending to meet the countries capital requirement.The country has been putting efforts to tighten the fiscal policy and the same has been reflected in their medium-term expenditure framework. The country has projected a year-on-year budget deficit of 1% of GDP. However, from the recent trends it appears that Nigeria will be able to sustain a year-on-year budget deficit of 2% given the prices of oil remain stable even though the current European turmoil and a slowdown in china can push oil prices down and lead to further increase in Nigeria’s Fiscal deficit.Nig eria intends borrowing from the international capital market for meeting its capital expenditure requirement in the near future. The total value of Nigeria's exports in the first quarter of 2012 is at about USD 30 billion, the exports to India has reached USD 4. 2 billion, compared to USD 3. 7 billion credited to the US in the period under review. Nigeria's export to India is mostly crude oil and cashew nuts while India exports pharmaceutical goods, machinery, electronics and rice. The US was trailed by the Netherlands with USD 2. billion, followed by Spain with USD 2. 4 billion and Brazil which recorded USD 2 billion. Nigeria is a member of the WTO and does not impose permanent import restrictions however it has a huge banned list of import goods which coupled with ad valorem tariffs have given rise to increase in smuggled goods. As such the restrictions do not seem to have benefited the local industries. There are specially designated export processing zones which provide benefits from tax, duties, foreign exchange restrictions and import-export restrictions.The Nigerian Export Credit Guarantee and insurance corporation (Nexim) provides insurance under the government’s export guarantee scheme. This has helped exporters in raising funds at subsidized rates for refinancing. Nigeria figures 133rd on the Doing Business in Index among 183 world economies and 15th among the 46 sub Saharan African economies. The trade balance of Nigeria for period 2007 to 2011 and forecasted data for 2012 and 2013 is given below. | 2007| 2008| 2009| 2010| 2011| 2012(F)| 2013(F)|Trade balance| 37,748| 45,885| 25,342| 20,237| 34,528| 34,131| 28,778| Goods: exports fob| 66,040| 85,729| 56,121| 73,698| 103,847| 114,068| 111,836| Goods: imports fob| -28,291| -39,844| -30,779| -53,461| -69,319| -79,937| -83,058| Services balance| -16,902| -22,113| -16,479| -19,231| -24,761| -24,278| -25,914| Income balance| -11,747| -15,059| -14,404| -18,623| -22,905| -20,913| -24,624| Current tra nsfers balance| 18,545| 19,366| 18,694| 20,092| 25,004| 27,387| 28,562| Current-account balance| 27,643| 28,079| 13,153| 2,476| 11,867| 16,327| 6,802| Source: Economic Intelligence Unit|Nigeria and its neighboring African nations have imposed strong continental Trade Barriers which is depriving the continent of new sources of economic growth, new jobs and leading to a sharp fall in poverty and other factors. However, many African countries are losing several billions of dollars in potential trade earnings every year, because of high trade barriers with neighboring countries. It is easier for Africa to trade with the rest of the world than with itself.The Policy progress in the nation has been restricted due to political instability and tussle between the presidency and senior economic team. Policies towards changes in exploiting the proceeds from fuel exports are always the concern restricting policy improvements. The country has huge limitation in the power sector and the governmen t has initiated privatization program focused mainly on the power sector, However the progress has been slow as a result of private-sector reluctance, the various vested interests involved and strong union opposition.This is limiting foreign investments in Nigeria. Nigeria urgently requires Tax reform for attracting investments in the country and this policy reform is high on the political agenda. However due to conflicting interests and the fragile nature of the Nigerian administration reforms are expected to be slow. Foreign Debt Due to the economic slowdown public sector revenue and expenditure has contracted in the past 3 years. As a result of the budget deficit, infrastructure is facing acute shortage which is mostly financed by internal public borrowing while also seeking access to external funding.The Nigerian government has set on the path of prudent reforms to reduce total spending while improving funding for capital requirements for efficient spending that will translate t o long term economic growth. The government also launched a Euro denominated bond in 2011 and expects to return to the international debt capital markets again in the next few years. Labor Market & Human Capital The education system of Nigeria is in a poor state unable to meet the educational requirement of the country. There are currently only 46 tertiary institutions in Nigeria providing education covering all functional areas.Out of the 42m Nigerian children who ought to be in primary school, less than 24m are in school. Out of the 33. 9m children of secondary school age, only 6. 4m are in secondary schools. The pass rate for JAMB examinations is about 20% – indicates poor quality of secondary school graduates. The educational system has not been tailored to meet developmental needs of the nation. Any foreign investment has to transfer both funds and human capital to the country. There are no improvements visible in the near vicinity.The Nigerian Labor market is marred wit h constraints and there appears little prospect in the near future of resolving many of the key constraints to improving the labor market in Nigeria. Most of the talented Nigerians prefer to move out of the country and the country is suffering from a ‘brain drain’. Nigeria has a large number of very capable professional and highly skilled workers in a range of sectors. Unfortunately for the country, large numbers, particularly in the medical profession, live and work overseas, and the restoration of civilian rule in 1999 has failed to bring an end to the brain drain’. Although labor law reform in 2005 weakened the capacity of the unions to organize political or sympathy strikes, the labor movement remains powerful, capable of organizing paralyzing national strikes. Value of indexa| | Global rankb| | Regional rankc| | 2006-10| 2011-15| 2006-10| 2011-15| 2006-10| 2011-15| 4. 4| 4. 6| 80| 80| 16| 15| a Out of 10. b  Out of 82 countries. c  Out of 17 countries: A lgeria, Bahrain, Egypt, Iran, Israel, Jordan, Kuwait, Libya, Morocco, Qatar, Saudi Arabia, Tunisia, UAE, Angola, Kenya, Nigeria and South Africa. Source: Economic Intelligence Unit| Population and Income Inequality The population in Nigeria is growing at a very fast pace, but given the poor state of the countries health care and educational system, this is only constraining the already dismal state of the country the growth rate is presented below, the high rate of population growth and the deteriorating state of infrastructure is not conducive enough for enticing foreign investment. Population (Million)| 2006| 2010| 2015| Total| 140. 4| 152. 2| 166. 7|Period averages (%)|   | 2006-10| 2011-15| Population growth|   | 2. 1| 1. 8| Labor force growth|   | 2. 4| 1. 9| Source: Economic Intelligence Unit| Poverty in Nigeria remains significant despite high economic growth. Nigeria retains a high level of poverty, with 63% living on below $1 daily, implying a decline in equity. There have been attempts at poverty alleviation, but the inequality has been rising. Income inequality worsened from 0. 43 to 0. 49 between 2004 and 2009. This is correlated with differential access to infrastructure and amenities.In particular, there are more rural poor than urban poor. This primarily results from the composition of Nigeria's economy. Oil exports contribute significantly to government revenues and about 15% of GDP, despite employing only a fraction of the population. Agriculture, however, contributes to about 45% of GDP, and employs close to 90% of the rural population. This incongruence is compounded by the fact that oil revenue is poorly distributed among the population, with higher government spending in urban areas than rurally.High unemployment rates have rendered personal incomes even more divergent. The graph below gives a comparison of the population below poverty line in relation to the total  Nigerian population. Data Source: Economic Intelligence Unit Unemp loyment According to the ‘2011 Annual Socio-Economic Report' released by the Nigerian Bureau of Statistics, the total number of unemployed people have increased from approximately 7 million in 2006 to 16 million in 2011. In 2011, approximately 2. 1 million people were newly unemployed.The report has also predicted the new entrants into the unemployed pool to be around 8. 5 million in 2015. The increase is also interestingly explained by the tendency of Nigerian university graduates to stay away from labor intensive work. They are now ready to wait for a white collar job thus resulting in the entry of new university graduates into the unemployment pool. The total number of employed labor force has remained fairly constant from 2006 to 2011 at around 51 million. However, 10 million new people have been added to the labor force during 2006-2011.The increase in labor force could be explained by the steady increase in the number of universities, polytechnics and colleges of educati on. While the enrollment in universities and polytechnics has decreased from around 460,000 in 2006 to 340,000 to 2011, enrollment in colleges of education has increased during the same period. Whereas the enrollment in state and federal institutions has decreased during 2006-2011, enrollment in private institutions has increased steadily. According to the report, the increase in unemployment rate has been kept in check by Nigerian government's employment policies.The unemployment rate in rural areas was 25. 6% and 17. 1% in urban areas. The total national unemployment rate was 23. 9% in 2011. Total unemployment rate amongst males was 23. 5% in 2011 while the same rate amongst females was 24. 3%. The report explains that married women who previously stayed out of the labor force have now started entering the market for jobs due to a raise in claim for financial independence. More women are also now forced to enter the labor market because of the need to supplement the income of male s in families.The unemployment rate has been consistently growing in Nigeria due to lack of industries, political stability and a myriad of other reasons. Unemployment is leading to crime and shadow economy which is further hindering investments in the country. Data Source: Economic Intelligence Unit Currency The Legal Tender followed in Nigeria is the Naira (sign:  ? ;  code:  NGN). The Central Bank of Nigeria referred as CBN is the sole authority responsible for issuing and maintaining the volume of the currency in the Nigerian economy.The currency was adopted by Nigeria on 1st Jan 1973 replacing the pound that was being followed since the colonial days. Money Supply and Monetary Control The Central Bank of Nigeria (CBN) is the central bank of Nigeria. Since the global financial crisis of 2008-09, maintaining adequate liquidity and averting a total collapse of the banking system has been the main focus of the CBN. The CBN uses the Monetary Policy Rate (MPR) to anchor short t erm money market rates and other interest rates in the economy.Open market operations conducted through the Treasury Bills auction is the major instrument of monetary policy. The CBN also uses discount window operations (including standing lending and deposit facilities, repo and reverse repo operations) and Cash Reserve Ratio (CRR) in monetary management. The banking crisis of 2009 and the subsequent reform initiated in the banking sector has complicated the monetary policy. The central bank also ensures that there is sufficient lending in key sectors such as agriculture.Since 1977, Nigeria has had an Agric Credit Guarantee Scheme (ACGS) under the management of the central bank. The Central Bank of Nigeria (CBN) is responsible for maintaining a balance between its objective of managing inflation and the government's aim of reducing the cost of borrowing by the private sector to encourage investment in productive activities. The CBN is currently pursuing the former objective, having increased its prime interest rate six times during 2011: the Central Bank is attempting to counter what it sees as high inflationary expectations embedded in the system.As the forecast period progresses and the inflation outlook improves, the focus of the CBN will return to easing monetary policy and boosting lending to productive sectors. Nevertheless, this has been complicated by the banking crisis of 2009 and the subsequent reform program put in place by the Central Bank, which is likely to mean that risk aversion among the banks persists into the first part of the forecast period at least. Below is the summary of the key Monetary Indicators for Nigeria. Monetary indicators| 2007a| 2008a| 2009a| 2010a| 2011a| 2012b| 2013b| 2014b| 2015b| 2016b| |Exchange rate N:US$ (av)| 125. 8| 118. 5| 148. 9| 150. 3| 153. 9| 160. 7| 174. 0| 172. 0| 174. 0| 176. 0| Exchange rate N:US$ (year-end)| 118. 0| 132. 6| 149. 6| 150. 7| 158. 3| 170. 8| 173. 0| 173. 0| 175. 0| 177. 0| Exchange rate N:↚ ¬ (av)| 172. 44| 174. 33| 207. 46| 199. 42| 214. 19| 209. 71| 224. 46| 217. 58| 215. 33| 221. 76| Exchange rate N:â‚ ¬ (year-end)| 173. 66| 184. 49| 215. 49| 201. 31| 210. 42| 221. 23| 222. 31| 215. 39| 219. 63| 223. 02| Real effective exchange rate, CPI-based (av)| 38. 05| 42. 32| 38. 59| 42. 11| 42. 74c| 46. 39| 46. 44| 50. 42| 53. 60| 56. 5| Purchasing power parity N:US$ (av)| 71. 31| 80. 30| 88. 60| 99. 68| 115. 8c| 120. 9| 121. 0| 123. 9| 129. 2| 136. 3| Money supply (M2) growth (%)| 58. 1| 53. 6| 20. 6| 3. 7| -0. 5| 8. 7| 20. 5| 19. 6| 17. 5| 18. 5| Domestic credit growth (%)| 358. 3| 55. 9| 41. 1| 14. 1| 28. 1| 7. 9| 21. 5| 20. 7| 18. 2| 17. 7| Commercial banks' prime rate (av; %)| 16. 9| 15. 5| 18. 4| 17. 6| 16. 0| 16. 0| 14. 0| 13. 0| 13. 5| 13. 8| Deposit rate (av; %)| 10. 3| 12. 0| 13. 3| 6. 5| 5. 7| 6. 0| 5. 8| 5. 8| 5. 8| 5. 5| Money-market rate (av; %)| 6. 9| 8. 2| 3. 8| 3. 8| 8. 5c| 8. 8| 7. 0| 6. 5| 6. | 6. 0| a  Actual. b  Economist Intelligence Unit foreca sts. c  Economist Intelligence Unit estimates. Source: EIU| Fiscal policy While Nigeria’s fiscal policy during the last half of the decade has been favoring expansive expenditure in the productive sectors, there is growing pressure to introduce tough, unpopular market reforms to tighten the fiscal policy. However it will be difficult to do so considering the different interest groups that the government needs to placate and wider legislature that favors greater government expenditure to counter the crippling infrastructure deficit.Even as investment in infrastructure remains critical, how the government manages to bring down the share of recurrent expenditures while improving the quality of capital expenditure is the key challenge. Another challenge for the government will be how it manages its dependence on oil prices, the key component of its revenue. A return to recession in Europe or a less than expected growth in China could bring down the oil prices. Exchange rates Th e Central Bank of Nigeria (CBN) has been responsible for managing the exchange rate and this was being done by auctioning of foreign currencies.The CBN sets the exchange rate. However, Nigeria’s currency fluctuations is correlated to fluctuations in the oil prices. In 2007, the Naira saw significant appreciation viz-a-viz the dollar due to increase in Global crude prices. Nigeria’s central Bank intends making the Naira exchange rates floating and policy decisions are being formulated towards this objective. The CBN also intends to make the exchange rate independent to the extent possible and aims at intervening only to meet defined policy objectives.The country has seen a huge depreciation of the Naira in the past 3 Decades, presently owing to the stable and strong crude prices the currency is considerably stable but is forecasted to slip further if the Global Economic crisis continues to deter. Source: http://www. exchangerates. org. uk/ Interest Rates The CBN kept it s benchmark interest rate at 12%. The CBN will find it hard to balance its objective of managing inflation and the government’s aim of reducing the cost of borrowing by the private sector to boost investment.Nigeria has seen a slowdown in economic growth in its economy as a result of slackening in global economic activities. As the tight liquidity condition persists, short term interest rates have been rising for the past couple of years. Another cause of concern for the CBN was the slowdown in interbank lending, which prompted the CBN to guarantee placements in the interbank market. This also helped bring down the interest rates in the short term money markets, such as the interbank call rates.The above table indicates the Monetary Aggregates and Interest Rates as obtained in 2010. Foreign Direct Investment Although the government will continue to welcome foreign direct investment (FDI), the level of FDI outside the oil and gas sector will remain low in relation to the poten tial size of the market. This reflects the complexities of the local business environment, together with the bureaucracy, corruption, low productivity, poor infrastructure and low income levels that restrict the potential market.The salient feature of the policy is enumerated. Full foreign ownership is allowed in all sectors apart from banking, although the Central Bank of Nigeria (CBN) has been more relaxed on the issue since the 2009 crisis in the sector and the subsequent need to recapitalize the affected banks. A new bill proposes to outlaw discretionary awards of oil and gas contracts, and stipulates that licenses must be given through â€Å"open, transparent and competitive† bidding processes.Nevertheless, a number of Asian investors, from China, India and South Korea in particular, who have shown keen interest in entering Nigeria on the basis that they concurrently develop local infrastructure, may still find themselves the preferred bidder on new acreage. There is als o likely to be a continued bias towards policy favoring local business, as evidenced by the recent local content bill for the oil industry that gives indigenous firms priority in the awarding of oil concessions and requires foreign companies to employ more local staff.As a result, and with other countries set to improve more rapidly, Nigeria will slip in the global rankings from 67th to 71st out of 82  countries, and from 12th to 13th in the Middle East and Africa region. Value of indexa| | Global rankb| | Regional rankc| | 2006-10| 2011-15| 2006-10| 2011-15| 2006-10| 2011-15| 5. 1| 4. 6| 67| 71| 12| 13| a Out of 10. b  Out of 82 countries. c  Out of 17 countries: Algeria, Bahrain, Egypt, Iran, Israel, Jordan, Kuwait, Libya, Morocco, Qatar, Saudi Arabia, Tunisia, UAE, Angola, Kenya, Nigeria and South Africa.Source: Economic Intelligence Unit| Foreign direct investment, net inflows (% of GDP) in Nigeria was 2. 99 as of 2010. Its highest value over the past 40 years was 8. 28 in 1994, while its lowest value was -1. 15 in 1980. The below outlines the Annual inflows of FDI along with its percentage composition of the gross fixed investment. (US$ m)| 2006| 2007| 2008| 2009| 2010| 2011| 2012| 2013| 2014| 2015| Annual inflows of FDI| 4,854| 6,035| 5,487| 5,787| 3,000| 3,500| 6,000| 7,500| 7,250| 7,250| % of gross fixed investment| 40. 4| 39. 7| 32. 1| 35. 3| 13. 7| 14. | 20. 5| 20. 9| 16. 8| 14. 2| Source: Economic Intelligence Unit| Globalization and Comparative Advantage Nigeria has not benefited considerably from globalization due to mono-cultural export, inability to attract increased foreign investments and huge indebtedness. And the way forward for Nigeria is to focus towards diversification of exports, debt reduction and expand developmental cooperation. Nigeria got connected to the rest of the world with the arrival of British in the Year 1539 and by the 1800’s Nigeria was under complete control of the British Empire.And since then Nigeriaâ€℠¢s trade has been heavily dependent on British trade. Nigeria has been a country rich in natural resources and traded these resources for weapons and tools. This asymmetric trade is the reason for the wide variance in the distribution of the nation’s wealth. The country received its independence in 1960 and during that time the Farm products was its major export. Post-independence, farm products constituted the major portion of Nigeria’s Trade. The six major agricultural products then were cocoa, rubber, palm oil, groundnut, cotton and palm kernel.And this constituted 69. 4% of its total GDP for the year 1963/64. The other contributor to exports was oil. However, during that period oil was priced low at $3. 8 per barrel and thus was not much lucrative. The 1970’s saw Nigeria’s fortune turn with the jump in fuel price by almost 4 times. Nigeria had high grade petroleum reserves and these reserves were easier to extract. The petroleum price rose to $14. 7 p er barrel by January 1974 and rates continued to soar reaching a high of $38. 77 per barrel in 1981.Within the same period, total revenue from oil rose correspondingly. By 1978, oil contributed 89. 1% of Nigeria’s export and in the same year contribution from agriculture plummeted to 6. 8% of exports. The overdependence of the country’s economy on oil exports has seriously hindered the development in other spheres. Globalization poses a multitude of challenges on Nigeria. The countries very poorly on education, health, agriculture and industrial development and therefore it is imperative that Nigeria focuses on these area to fundamentally transform the nation.The country requires focusing on technological development and science and Technology are required to be central theme of their Developmental Strategy. The Country also requires focusing on basic Infrastructure such as power supply and telecommunications and these must exist regularly and uninterruptedly. Also, in dustrialization, including manufacturing and fabrication must be brought in at the center place. There is a need to revitalize agriculture by utilizing the technologies in the field and shifting to mechanized farming. ConclusionThere is an element of risk of doing business in Nigeria even though the debt of the country is in a manageable state. A prolonged European crisis and a slowdown in China will lead to dip in oil prices and Nigeria will face difficulties in meeting its deficit requirements. The currency of Nigeria-Naira is currently seen stable and after depreciating by an average of 6. 3% per year in 2012-13 to N174:US$1, the naira is expected to moderate more gently in subsequent years, to N176:US$1 in 2016, though the currency has seen a continuous downslide when data is compared for the last three decades.After the Banking crisis of 2009, the banking sector is skeptical on lending to private sector, however the confidence is returning. The political risk of the country is seen as high due to factions in the government and the rise in Islamist fundamentalism. Piracy is also a major phenomenon in the Gulf of Guinea which makes Nigeria’s coastline a risky shipping port. Nigeria declared a state of emergency in January 2012 in the northern parts due to a recent spate of terror attacks; however no civil war or major instability is expected in the short run.The government has been accused of largely ignoring public grievances like unemployment, poverty, inequality in wealth and corruption. Unless the government steps up to address these issues and establish credibility there is risk of escalation. The President Mr. Good luck Jonathan has recently commissioned investigations into allegations of corruptions in the oil subsidies and replaced the Chief of the Police for failing to root out infiltration by the insurgents into the government offices.However the effectiveness of these measures will depend on their enforcement. The future of the Nigerian ec onomy therefore depends on stabilizing governance and enabling the parliament to unlock major reforms in the Oil and Gas sector. References 1. Economic Intelligence Unit – (http://country. eiu. com/Nigeria) 2. CBN Monetary Survey 3. Exchange Rates – (http://www. exchangerates. org. uk/) 4. Shadow Economy Reference – (http://news. bbc. co. uk/) 5. Currency Reference – (http://www. cenbank. org/)

Are Players Abandoning Online Casinos For Mobile Play

Blog 7 – Are players abandoning online casinos for mobile play? The world is certainly changing, as the days of home based computing are now seemingly coming to end. Billions are now computing on the go through handheld devices such as tablet and smartphones. 20 years ago the thought of using an Internet browser on a mobile phone was unfathomable. It was considered the stuff of Sci-Fi films of the 1980s and 1990s, but what was once fantasy is now certainly reality. Mobile based online casino gaming is now becoming commonplace, so much so that it is taking away from its desktop based older brother. In what makes for some interesting reading, a brand new study has revealed that players are putting plenty of time into mobile play. Millions†¦show more content†¦The mobile casino platform has been building serious momentum for the past several years, with it now looking like such momentum is showing in the polls. Speedy Progression The survey also through up some interesting facts for those who have their eyes on the business side of online casino play. It showed that as far as progression is concerned, players go through the motions much quicker on mobile devices. Through all players and providers surveyed, stats show that players progress from demo play to real-money play much quicker when playing through a mobile casino. Mobile players on average make a deposit every 10 days, but the average for traditional web based players is 14 days. Mobile players also seem to gamble more, as they 1.6x more likely to login daily than those who strictly play through online casinos. Hanging in There The reality is that mobile casino gaming is largely beating online casino gaming across the board. However, it definitely looks like online casino gaming isn’t going down without a fight. It seems that players still feel that online casinos deliver much better on both the payment options and the payout front. While it isn’t a huge win considering the rest of the survey, it does show that online casinos are still delivering in some aspects. Learning Curve It seems that not a week passes without someone somewhere conducting a survey