Friday, 17 January 2014

INDIVIDUAL DIFFERENCE 
  The differences between the individuals that separate them from one another and make one as a
unique individual in oneself are termed as individual differences.
  Dissimilarity between persons that distinguish them from one another.
  Individual differences are one of degree, not one of kind.
  Their exist inter-individual and intra –individual differences.
  These differences can be observed in –physical traits, mental traits, motor ability, interest and
aptitude, differences in attitudes, emotional differences,
Determinants of individual differences 
  Heredity
   Environment
Heredity
Is the sum total of the physical and mental qualities that an individual inherits from his parents.
Environment
Is everything other than heredity that influences an individual‟s growth and development?
INCLUSIVE EDUCATION 
  Inclusive education means that all students in a school, regardless of their strengths or weaknesses in
any area, become part of the school community. They are included in the feeling of belonging among
other students, teachers, and support staff.
Benefits of inclusion for students with disabilities
  Friendships
  Increased social initiations, relationships and networks
  Peer role models for academic, social and behavior skills
  Increased achievement of  IEP goals
  Greater access to general curriculum
  Enhanced skill acquisition and generalization
  Greater opportunities for interactions
  Higher expectations
  Increased school staff collaboration
  Increased parent participation
Benefits of inclusion for students without disabilities
  Meaningful friendships
  Increased appreciation and acceptance of individual differences
  Increased understanding and acceptance of diversity
  Respect for all people
  Prepares all students for adult life in an inclusive society
  Opportunities to master activities by practicing and teaching others
  Greater academic outcomes
  All students‟ needs are better met, greater resources for everyone.
Need for inclusive education. 
  Inclusive education (IE) is a strategy contributing towards the ultimate goal of promoting an
inclusive society, one which enables all children/adults, whatever their gender, age, ability, ethnicity,
impairment or status, to participate in and contribute to that society.
  Difference is respected and valued
  Education is the right of all children, and i.e. aims to ensure that all children have access to an
appropriate, relevant, affordable and effective education within their community
  IE is an approach which aims to develop a child-focus by acknowledging that all children are
individuals with different learning needs and speeds.
  Teaching and learning can become more effective, relevant and fun for all.
  IE is part of development, and development should be inclusive, i.e. Responding to the needs of real
people who are all different. As with all children, disabled children have a range of basic needs
which need to be met in order for them to benefit from education. These include nutrition,
acceptance, love and basic health care.
  Avoid discrimination and to promote positive identity in disabled children.
  As a catalyst for change i.e. provides not only school improvement but an increased awareness of
human rights which leads to a reduction of discrimination.
   by finding local answers to complex problems it empowers communities and can lead to wider
community development
Exceptional learners 
  Exceptional children are those children who deviate significantly from the normal ones.
  Children who show considerable deviation from what is supposed to be normal or average to their
group.
GIFTED CHILDREN 
Having Hurst
  “The talented or gifted child is one who shows consistently remarkable performance in any
worthwhile line of Endeavour.”
Characteristics 
The gifted child is
  Is an exceptional child
  Is superior in some ability or group of abilities
  Exhibits superior performance in the area or areas of his giftedness.
  Need not necessarily possess a very high IQ.
  He learns rapidly and easily ,and retains it without much drill
  He knows about many things which most students are unaware.
  Has rich vocabulary marked by originality.
  Gifted is not only in academics but also in other spheres viz.
   Music, dance, drama, mechanical work, games, sports etc.
Needs of exceptional children
  Need for knowledge and understanding
  The need for the creativity and ingenuity
  Need for the development of his exceptional ability
  Need for self –actualization or self expression.
Education of the gifted children 
  Separate schools
  Ability grouping
  Acceleration or double promotion
  Enrichment programmes
THE SLOW LEARNER 
A slow learner is a child who is unable to cope up with the work normally expected of his age group.
  I.Q. must be 70-90.
  Unable to deal with abstract materials
  Reasoning ability is inferior to that of the normal children
  Span of attention is relatively shorter
Characteristics  
A slow learner; 
  Feels difficulty in keeping pace with the normal school work
  His educational attainment falls below his natural abilities
  He falls far behind other children of his age in matters of study
  His span of attention and concentration are short and has short reaction time.
  Has got limited power of self –direction
How to cater the needs of slow learner
  Regular medical check-up and necessary treatment
  Readjustment in home and school
  Provision of special schools and special classes.
  Provision of special curriculum ,methods of teaching and special teachers
  Special  coaching and proper individual attention
  Provision for co-curricular activities, rich experiences and diversified courses.
  Rendering guidance service
  Controlling negative environmental factors
LEARNING DISABILITIES 
Dyslexia 
•  The word dyslexia originated from Greek language
        Dys-poor or inadequate, and
       Lexis-words.
•  Students with dyslexia may have
Difficulty with reading, spelling,
Understanding language to hear, or expressing themselves clearly when speaking or writing.
According to world federation of neurology
•  “A disorder manifested by difficulty in learning to read despite conventional instruction, adequate
intelligence and socio-cultural opportunity. It is dependent up on fundamental cognitive disabilities
which are frequently of constitutional origin.”
The hallmark of dyslexia is underachievement in writing and reading skills.
Children are born with dyslexia.
 Dyslexia results from the differences in the structure and function of the brain.
Characteristics 
  Problems with reading, accuracy, speed, and comprehension.
  Repeated spelling errors.
  Reversal of orientation of letters, e.g., b-d, w-m etc.and sequence of letters in words, when read or
write.
  Errors in letter naming
  Difficulty in learning and       remembering printed words
  Cramped or illegible handwriting
  Difficulty in finding write words while speaking
  Slow rate of writing.
  Confusion about directions in space or time(right and left, up and down,etc)
The following steps can be taken for helping dyslexics children, 
  The teachers and the parents must be trained for diagnosing the dyslexics.
   Teachers must develop effective learning strategies for dyslexics.
  Those who are having persistent handwriting problems should be encouraged to join up their
writings.
Dysgraphia 
•  Is a learning difficulty resulting from the difficulty in expressing thoughts in writing and graphing
•  It can manifest itself as difficulties with spelling, poor handwriting and trouble putting thoughts on
the paper.
Characteristics 
•  Poor writing skills
•  Illegible writing
•  Inconsistencies; mixtures of print and cursive, upper and lower case, irregular sizes shape or slant of
letters.
•  Unfinished words &letters
•  Inconsistent position on page with respect to lines and margins and spaces between words and letters
Strategies 
•  Encourage students to outline their thoughts.
•  Have students draw pictures of their thoughts.
•  Have students dictate their ideas in to a tape recorder and then listen and write them down later.
•  Practice keyboard skills.
•  Have a computer available for them to organize information and check spelling
•  Encourage students to talk aloud while writing.
•  Give and allow students to begin projects early.
Dyscalculia 
•  Word comes from Greek and Latin „counting badly’
•  Suffers specific arithmetic disabilities as result of damage to specific regions of brain
•  Can also occur developmentally as a genetically –linked learning disability.
•  Affects person’s ability to understand ,remember, and manipulate numbers and number facts
•  Refer specifically to the inability to perform arithmetic operations.
•  Occurs in people across the whole IQ range.
•  Difficult to differentiate between integers and letters
•  Confusion in reading ‘5’ and‘s’ and ‘0’ and ‘o’ etc.
Strategies 
•  Help to identify his/her strengths and weaknesses.
•  Parents, teachers and other educators work together to establish strategies.
•  Help outside the classroom.
•  Use graph papers
•  Begin with concrete examples

EDUCATIONAL PSYCHOLOGY – IT’S MEANING, NATURE AND SCOPE
In this age of science and technology, psychology has been considered as one of the
youngest, yet one of the most influential sciences. It has influenced education in many
different ways and has give a new turn; a psychological turn to the human mind. For a
skilful teacher in this day and age, a great deal of knowledge of educational psychology is highly indispensable.
The subject psychology has two aspects pure and applied. Pure psychology formulates
techniques for the study of human behaviour, which finds the practical shape in its
applied aspects, i.e. branches of applied psychology like clinical psychology, crime
psychology, industrial psychology, occupational psychology and educational psychology.
Educational Psychology as a Branch of Applied Psychology
As discussed above educational psychology is nothing but one of the branches of applied
psychology. It is an attempt to apply knowledge of pure psychology to the field of
education. It consists of application of psychological principles and techniques to human
behaviour in educational situations. In other words, Educational Psychology is a study of
the experience and behaviour of the learner in relation to educational environment. In
order to develop a clear understanding of the term educational psychology it is necessary
to understand the meaning of psychology and education separately.
Meaning of Psychology
Curiosity in man has led to know his surroundings which mainly conclude nature and
other fellow men. There is always a desire to ‘know’ what ‘one’ is, what is his
background, what is it made of, what are the associated factors and in what way can it be
useful to one self ? Each question will lead to more questions, Psychology forces to
answer many of the questions we have about ourselves, other people and the nature of
human life; why do we feel lonely ? Why do we forget ? How people learn ? What makes
someone creative ? Why do we take drugs ? What makes some one help others ? and so
on.
Psychology had its formal beginning when Wilhelm Wondt established his psychological
laboratory in Leipzig Germany in 1879. But in real sense, interest in psychology as a
discipline dates back to the work of Plato, Aristotle and other philosophers.
Psychology – The Science of Soul
The Greek Philosophers conceived psychology as a science of soul, as early as 400 B.C.
In fact, the term psychology literally means the science of soul. Etymologically, it is
composed of two Greek words “Psyche” and Logos means soul and science respectively.
Goeckel named it as psychologia. Soul is a being which dwells on the body and with the
end of life it leaves the body. Soul is a metaphysical idea. It can neither be perceived on
imagined nor its nature and function can be studied by scientific methods of observation,
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Sunday, 15 December 2013

Managerial Economics Slideshow

Managerial economics as defined by Edwin Mansfield is "concerned with application of the economic concepts and economic analysis to the problems of formulating rational managerial decision.It is sometimes referred to as business economics and is a branch of economics that applies microeconomic analysis to decision methods of businesses or other management units. As such, it bridges economic theory and economics in practice.It draws heavily from quantitative techniques such as regression analysis, correlation and calculus. If there is a unifying theme that runs through most of managerial economics, it is the attempt to optimize business decisions given the firm's objectives and given constraints imposed by scarcity, for example through the use of operations research, mathematical programming, game theory for strategic decisions, and other computational methods.

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Financial Management

What is Financial Management

A basic management function involving formulation of one or more detailed plans to achieve optimum balance of needs or demands with the available resources. The planning process (1) identifies the goals or objectives to be achieved, (2) formulates strategies to achieve them, (3) arranges or creates the means required, and (4) implements, directs, and monitors all steps in their proper sequence.

Objectives of Financial Management

1.Profit maximization : (Objectives of Financial Management)

The main objective of financial management is profit maximization. The finance manager tries to earn maximum profits for the company in the short-term and the long-term. He cannot guarantee profits in the long term because of business uncertainties. However, a company can earn maximum profits even in the long-term, if:-
a)The Finance manager takes proper financial decisions.
b)He uses the finance of the company properly.

Objectives of Financial Management
2.Wealth maximization : (Objectives of Financial Management)
Wealth maximizing (shareholders' value maximization) is also a main objective of financial management. Wealth maximization means to earn maximum wealth for the shareholders. So, the finance manager tries to give a maximum dividend to the shareholders. He also tries to increase the market value of the shares. The market value of the shares is directly related to the performance of the company. Better the performance, higher is the market value of shares and vice-versa. So, the finance manager must try to maximise shareholder's value.
3.Proper estimation of total financial requirements : (Objectives of Financial Management)
Proper estimation of total financial requirements is a very important objective of financial management. The finance manager must estimate the total financial requirements of the company. He must find out how much finance is required to start and run the company. He must find out the fixed capital and working capital requirements of the company. His estimation must be correct. If not, there will be shortage or surplus of finance. Estimating the financial requirements is a very difficult job. The finance manager must consider many factors, such as the type of technology used by company, number of employees employed, scale of operations, legal requirements, etc.
4.Proper mobilisation : (Objectives of Financial Management)
Mobilisation (collection) of finance is an important objective of financial management. After estimating the financial requirements, the finance manager must decide about the sources of finance. He can collect finance from many sources such as shares, debentures, bank loans, etc. There must be a proper balance between owned finance and borrowed finance. The company must borrow money at a low rate of interest.
5.Proper utilisation of finance : (Objectives of Financial Management)
Proper utilisation of finance is an important objective of financial management. The finance manager must make optimum utilisation of finance. He must use the finance profitable. He must not waste the finance of the company. He must not invest the company's finance in unprofitable projects. He must not block the company's finance in inventories. He must have a short credit period.
6.Maintaining proper cash flow : (Objectives of Financial Management)
Maintaining proper cash flow is a short-term objective of financial management. The company must have a proper cash flow to pay the day-to-day expenses such as purchase of raw materials, payment of wages and salaries, rent, electricity bills, etc. If the company has a good cash flow, it can take advantage of many opportunities such as getting cash discounts on purchases, large-scale purchasing, giving credit to customers, etc. A healthy cash flow improves the chances of survival and success of the company.
7.Survival of company : (Objectives of Financial Management)
Survival is the most important objective of financial management. The company must survive in this competitive business world. The finance manager must be very careful while making financial decisions. One wrong decision can make the company sick, and it will close down.

 Managerial Economics
Optimization Calculus
Agenda
  1. Finding Maximum Points
  2. Finding Minimum Points
  3. Multivariate Optimization
  4. Role of Constraints
  5. Lagrangian Method

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An Overview of Financial Management

Chapter # One Outlinne

  1. Finance Explained
  2. Areas of Finance
  3. Scope of Finance
  4. Forms of Business Organization
  5. Goals of the Corporation
  6. Career Opportunities
  7. Agency Theory
  8. Role of Finance Manager

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Demand Analysis-Managerial Economics

Definition Of Demand
An economic principle that describes a consumer's desire and willingness to pay a price for a specific good or service. Holding all other factors constant, the price of a good or service increases as its demand increases and vice versa. 
Quantity demanded
The amount of good that a consumer is willing and able to buy at a given price over a given period of time.
Types Of Goods
Substitute goods: A pair of good which are considered by consumers to be alternatives to each other.
Complementary goods: A pair of good consumed together. As the price of one goes up, the demand for both goods will fall.
Normal Good: A good whose demand rises as people's income rises.
Inferior good: A good whose demand falls as people's income rise.

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