...change, humans are responsible for the majority of global warming since 1900, including virtually 100% of the warming since 1970 (IPCC, 2007b, p. 39). In the years since Kyoto, there have been major efforts to bring about worldwide agreement to the treaty, including a recent climate summit—much publicized for its failings—held in Copenhagen. But not everyone is going along with the IPCC. Despite a continuing maelstrom of media hype and alarmist politics, the idea that the earth is warming at an unprecedented rate, due primarily to human influence, is quickly losing ground. This global warming backlash is due in large part to a growing chorus of skeptics and climate experts willing to challenge the prevailing science at the core of the movement. Over 31,000 scientists, including over 9,000 PhDs, have raised concerns over the IPCC’s findings. They have signed a petition stating that the organization’s claims are extreme, that the climate system is more complex than what is now known, and that various mechanisms have not yet been included in the models considered to date (Idso & Singer, 2009, p. 739). They have argued that the whole issue should be treated with caution and that we should not jump headfirst into incorrect environmental policies that could be extremely damaging to the economy. Records do show that since the year 1900, global surface temperatures have risen by...
Words: 4241 - Pages: 17
...In this past weekend’s Points section, the DMN ran an essay suggesting that catastrophic climate change — which the piece called global warming — doesn’t cause more big, scary tornados. It made me crazy for several reasons. One, it didn’t tell you who Richard Muller is: a physicist (not a climate scientist) who is most famous for finally converting to the inevitable conclusion that manmade climate change is real after he’d spent years denying this (and taking Koch brother money while doing so). So, he’s famous for admitting what everyone knew two decades ago. Also, the argument is a straw man: No one is saying that “global warming” (really, catastrophic climate change) is causing more big scary tornados, because the people who study this sort of thing closely know the data doesn’t support making any conclusion. For example, tornados form for reasons besides temperature, and there is no constancy in reporting through the decades (new technology is showing tornados winds could be 100 mph faster than previously measured, for example). Which is why six climate/tornado experts wrote an essay this week showing why the Muller piece is so off-base. Finally: the column had already run in the New York Times and then been debunked by the very source Muller quotes: Michael Mann! I leave you with what should have been the final word on this subject, from Mann’s piece: The New York Times does a disservice to its readers when it buys into the contrived narrative of the “honest broker”–Muller...
Words: 321 - Pages: 2
...BUSINESS FINANCE FINS1613 Tutorial Week 8 Risk & Return Basics 1 CONTACT DETAILS Your Tutor + Tutor‐in‐Charge: Peter Andersen peter.andersen@unsw.edu.au 2 FINS1613 — Peter Kjeld Andersen (2013‐S2) CHAPTER 10: PROBLEM 1 Q. Suppose a share had an initial price of $78, paid a dividend of $1.25 per share during the year and had an ending share price of $87. Compute the percentage total return. Return(%) A. Capital Gain/Loss Dividend Initial Price $1.25 $87 $78 13.14% $78 3 FINS1613 — Peter Kjeld Andersen (2013‐S2) CHAPTER 10: PROBLEM 2 Q. What was the dividend yield in the previous problem? What was the capital gains yield? Dividend Yield(%) A. $1.25 Dividend $78 Initial Price 1.60% Capital Gains Yield(%) Capital Gain/Loss Initial Price $87 $78 11.54% $78 Return(%) Capital Gains Yield(%) Dividend Yield(%) 11.54% 1.60% =13.14% 4 FINS1613 — Peter Kjeld Andersen (2013‐S2) CHAPTER 10: PROBLEM 3 Q. Rework Problems 1 & 2 assuming that the ending share price is $71. A. Dividend Yield(%) $1.25 Dividend $78 Initial Price 1.60% Capital Gains Yield(%) Capital Gain/Loss Initial Price $71 $78 8.97% $78 Return(%) Capital Gains Yield(%) Dividend Yield(%) 8.97% 1.60% = 7.37% Capital Gain/Loss Dividend $71 $78 $1.25 or.... 7.37% Initial Price $78 5 FINS1613 — Peter Kjeld Andersen (2013‐S2) CHAPTER 10: PROBLEM 4 ...
Words: 1772 - Pages: 8
...SOUTH WALES JUNE / JULY 2006 FINS1613 Business Finance – Final Exam (1) TIME ALLOWED - 2 hours (2) TOTAL NUMBER OF QUESTIONS - 50 (3) ANSWER ALL QUESTIONS (4) ALL QUESTIONS ARE OF EQUAL VALUE. (5) THIS PAPER MAY NOT BE RETAINED BY CANDIDATE (6) CANDIDATES MAY BRING A PENCIL AND ERASER TO THE EXAMINATION. CANDIDATES MAY NOT BRING THEIR OWN CALCULATORS (7) THE FOLLOWING MATERIALS WILL BE PROVIDED BY THE EXAMINATIONS SECTION: Calculators, and Mathematical tables (PV and FV) PRINT YOUR STUDENT NUMBER ON TOP RIGHT HAND CORNER ANSWER ALL QUESTION ON THE PROVIDED ANSWER SHEET ALL ANSWERS MUST BE ANSWERED IN PENCIL. FINS 1613 Final Exam 1 S1 2006 Multiple Choice - 50 Questions: 1 mark each No negative marking 1) Hiphop Limited must choose between one of two mutually exclusive projects. • Project A has an up-front cost (t = 0) of $120,000, and it is expected to produce cash inflows of $80,000 per year at the end of each of the next two years. Two years from now, the project can be repeated at a higher up-front cost of $125,000, but the cash inflows will remain the same. • Project B has an up-front cost of $100,000, and it is expected to produce cash inflows of $41,000 per year at the end of each of the next four years. Project B cannot be repeated. Both projects have a cost of capital of 10 percent. Hiphop wants to select the project that provides the most value over the next four years. What is the net present value...
Words: 6079 - Pages: 25
...Australian School of Business Banking and Finance FINS3625 Applied Corporate Finance Course Outline Semester 1, 2014 Part A: Course-Specific Information Part B: Key Policies, Student Responsibilies and Support Table of Contents PART A: COURSE-‐SPECIFIC INFORMATION 1 STAFF CONTACT DETAILS 1.1 Communication with Staff 2 COURSE DETAILS 2.1 Teaching Times and Locations 2.2 Units of Credit 2.3 Summary of Course 2.4 Course Aims and Relationship to Other Courses 2.5 Student Learning Outcomes 3 LEARNING AND TEACHING ACTIVITIES 3.1 Approach to Learning and Teaching in the Course 3.2 Learning Activities and Teaching Strategies 4 ASSESSMENT 4.1 Formal Requirements 4.2 Assessment Details 4.3 Assessment Format 4.4 Assignment Submission Procedure 4.5 Late Submission 5 COURSE RESOURCES 6 COURSE EVALUATION AND DEVELOPMENT 7 COURSE SCHEDULE PART B: KEY POLICIES, STUDENT RESPONSIBILITIES AND SUPPORT 8 PROGRAM LEARNING GOALS AND OUTCOMES 9 ACADEMIC HONESTY AND PLAGIARISM 10 STUDENT RESPONSIBILITIES AND...
Words: 6032 - Pages: 25
...FINS1613 Business Finance Semester 2 – 2009 Version 1.0.0 12th October 2009 Contents Page 3 Page 7 Page 10 Page 14 Page 18 Page 23 Page 26 Page 29 Page 32 Page 38 Page 42 Basic Concepts Introduction to Financial Mathematics The Valuation of a Firm’s Securities Capital Budgeting Capital Budgeting Applications – Part 1 Capital Budgeting Applications – Part 2 Risk and Return The Capital Asset Pricing Model Cost of Capital and Raising Capital Capital Structure Dividend Policy Note: This course has prerequisites and, as such, these notes are written assuming that you have sound knowledge from those prerequisite courses. Business Finance– Semester 2 2009 2 Basic Concepts Basic Concepts Background Before we delve into the harder components of business finance, it is imperative that we learn the basics first. Types of Business Forms If you have previously studied Business Studies for the HSC, you can skip this section. Businesses are usually formed based on a set structure. The most common of these are: • Sole Proprietorships This is where the business is owned by a single person. It is very simple, fast to establish and generally has very minimal government regulations. The owner gets to keep all the profits himself so there is incentive to work harder. The downside is that it has unlimited liability (where if the business goes bankrupt, everything the owner owns can be taken by creditors). There is also difficulty in raising large sums of money as you are a single...
Words: 15358 - Pages: 62
