Psychology of Trading Essay

In a general summary of human events and fortunes, diametrical oppositions create a kind of dialectic of change that works in cycles with not a lot of change happening for most companies but rather slow decline for many and quick change only to face a doomed fall for so many more. This is not really delved into, what partnership the opposing teams have for each other. The professors who are â€Å"out of touch† and talking about fundamentals against the more clever or crafty investment professionals who know and have known for so long how irrational the market is and how crowd dynamics certainly play a huge role in raising or lowering certain stocks. While the authors seem to think that professors are genuinely out of touch and should teach to industry standards what is neglected are how much fundamentals should matter in the long-run. However, I do agree that professors should certainly assess crowd psychology and not only that but the addictive mass-consumption aspect of investments. Stocks are products just like any other though they are symbolic products as well as liquid assets so it’s certainly prestigious to say that you own a lot of shares of Google, just like it used to be prestigious to own Bethlehem Steel but why not just say you have a lot of money to spend on electronic packets of value? Why do people boast about their portfolio and encourage friends to buy into the next great stock that they claim to be smitten by? I think that social networks rather than classic crowd psychology treatise are more helpful in discovering the cascades of â€Å"irrational† investing and â€Å"rational† counter-investing that people engage in. Because stocks have contested and insecure meaning equilibrium is rare yet if the fundamentals are there or more broadly, if they offer a great product that people love to consume then truly it would be not so wise to follow what people do as you miss the best opportunity and settle for the second best. Theoretically if a person could audit a company with a team of the best auditors they should be in possession of very valuable information if this company is trading heavily but can be expected to reach an equilibrium point where it rises for quite awhile and never falls too deeply. Kind of like Best Buy’s stock from July of 2005 to October of 2008, there it seemed like the company satisfied with fundamentals for a long time and created a crowd of loyal consumers who bought not for gain but stability. Then too much bad news and the fundamentals started looking not so good, resulting in a huge dip in the price of the stock to approximately half of the equilibrium value it maintained during the time coordinates specified above. Prestige and the social conditioning forces are simplified in this article with a few less than well-chosen passages of Le Bon who wrote an awful lot about crowd psychology but was more of an inspiration than truly a fruition of great ideas that stand firm on their own. How convincing both the fundamentals argument and the crowd-mechanisms are is really uncertain as even the authors seem to realize that both are important though crowds are far more discussed than issues like why â€Å"Fundamentals† are not always terribly predictive and why. A lot is stated in this article but it’s not really a great think-piece as you learn a lot of information but without a great theoretical framework it resembles a mismatch that barely works towards conciliation.

Birth Order and Aggressive Behavior Essay

ABSTRACT The purpose of this research is to determine if birth order correlates to a demonstration of aggressiveness in kindergarten aged children. It is hypothesized that middle born children will demonstrate the most aggressive tendencies, last born children would experience less than the first born, and only children would have the least when compared to all other birth orders. This quasi-experimental methodology will involve a field study of children from the ten kindergarten classes at the Seoul American Elementary School (SAES). Teachers will be asked to complete the Child Behavior Scale (CBS) inventory on each child, used to measure six behavior categories related to aggression. Each CBS inventory will include birth data for the student whose behavior was observed. The findings are expected to show a correlation between birth order and a tendency toward aggression. INTRODUCTION Everyone who is born into a family arrives relative to other children who have already been born or will be at some point in the future or perhaps as an only child. Birth order does not permanently mark each child such as race or gender, but it can impact on the way a person responds to the environment. There have been a number of studies done on the relationship of birth order to personality, intelligence, anxiety and other characteristics with the belief that each child born into a family is treated differently based on their birth order, family interaction and subsequent challenges. Some birth order theorists believe that a child’s position in the family greatly influences their personality characteristics which directly affect their behavior both inside and outside of the home (Morales). Not every theorist has the same view and there are those that believe a psychological birth order has more impact than the physical birth order on the development of personality characteristics (Campbell, White & Stewart, 1991). In his book, Born to Rebel, Frank Sulloway describes how birth order influences our lives in many different ways from achievement to rebellion and from conformity to creativity (The Edge, 1998). While firstborns and laterborns are not much different in overall levels of creativity, the differences in how that creativity is exercised is very different. Firstborns are more likely to win the Nobel Prize by intellectual achievement within the system while the younger siblings will be more inclined to accept radical innovations in science and social though. His findings showed that revolutionaries and those who supported them were disproportionately likely to be later-borns (Sulloway, 1999). While not every social scientist agreed with Sulloway’s research (Harris, 1995; e.g., Falbo, 1997 ), others conducted follow-up studies that confirmed the original findings (Zweigenhaft & Ammon, 2000), and Freese, Powell & Steelman discovered measures in addition to birth order to help explain reasons for various behaviors (1999). This study hopes to build on previous research to determine whether a correlation exists between birth order and a child’s tendency to demonstrate aggressiveness. METHOD Coordination with the Seoul American Elementary School (SAES), a Department of Defense Dependent School located on Yongsan Army Base, Yongsan, Seoul, Korea, will be done to get permission for the study. Permission from the school and the parents of the children selected will be obtained prior to the start of this study. PARTICIPANTS This study will be conducted in the classroom during normal school hours for all students attending the ten full day Kindergarten classes at SAES during a specified 30 day period of the school year. There will be approximately 360 students for this study with an equal number of girls and boys, with 45% of the class comprised of Asian-Americans, 20% African-Americans, 15%  Latin-Americans and the remainder Caucasians. APPARATUS/MATERIALS Teachers will be provided the Child Behavior Scale (CBS) inventory as a means to assess aggressive, prosocial, and withdrawn behaviors of children ages 5-6 years of age. The CBS contains 59 items for which the teacher must respond using a 3-point response scale (1=doesn’t apply, 2=applies sometimes, 3=certainly applies) (Ladd & Profilet, 1996). The CBS measures six categories of behavior as follows: aggressiveness with peers, prosocial behavior with peers, exclusion by peers, asocial behavior with peers, hyperactive-distractible behavior, and anxious-fearful behavior. Copies of the CBS inventory and permission for its use will be obtained from its author, Dr. Gary Ladd, at Arizona State University (an email request has been sent copy of email attached). PROCEDURE Teachers from the 10 Kindergarten classes will observe their students for a specified 30 days during the school year, completing the CBS inventory for each student during that time. The teacher will indicate the birth order of the child on the completed inventory which will then be turned in to the SAES front office to be picked up by the study group. RESULTS The expected results will validate the hypothesis that middle born children will tend to demonstrate more aggressive behavior than either first born, last born or only children. Tables are expected to be used for this study and will include a listing of the CBS subscale items related to firstborn, middleborn, lastborn and onlyborn, further identified by girl and boy. An example follows: DISCUSSION Apart from the effects of birth order, there is little information about the ways in which the nonshared environment influences human development, mainly because psychologists have not been successful in developing direct measures of this environment. The challenge for future researchers lies in devising ways to test competing hypotheses that bear on the nature and influence of this elusive environment. Peer groups are an important aspect of this type of environmental influence, but so is the family environment and life experiences as well (Sulloway, 98). REFERENCES Campbell, L., White, J., & Stewart, A. (1991). The relationship of psychological birth order to actual birth order. Individual Psychology, 47: 380-391. Falbo, T. (1997). To rebel or not to rebel? Is this the birth order question? Contemporary Psychology, 42: 938-939. Freese, J., Powell, B., Steelman, L.C., (1999). Rebel without a cause or effect: birth order and social attitudes. American Sociological Review, 64: 207-231. Harris, Judith Rich. (1995). Where is the child’s environment? A group socialization theory of development. Psychological Review, 102: 458-89. How is Personality Formed? A Talk with Frank J. Sulloway (1998). The Edge Foundation, Inc., Third Culture. Accessed on 13 Feb 2004 at: www.edge.org/3rd_culture/sulloway . Ladd, G. & Profilet, S. (1996). The child behavior scale: A teacher-report measure of young children’s aggressive, withdrawn, and prosocial behaviors. Development Psychololgy, 32 (6), 1008-1024. Morales, C. (1994). Birth Order Theory: A Case for Cooperative Learning. Journal of Instructional Psychology 21: 246-250. Rubin, R. & Hubbard, J. (2003). Children’s verbalizations and cheating behavior during game playing: the role of sociometric status, aggression, and gender. Journal of Abnormal Child Psychology, 31: 65-78. Solo, R., MacLin, M., (2002). Experimental Psychology. Boston: Allyn & Bacon. Sulloway, F. (1999). â€Å"Birth Order† in Runco, M. & Pritzker, eds., Encyclopedia of Creativity, 1:189-202. Zweigenhaft, R., Ammon, J., (2000). Birth Order and Civil Disobedience: A Test of Sulloway’s ‘Born to Rebel’ Hypothesis. Journal of Social Psychology, 140: 624-628.

Characteristics of an Early Childhood Educator Essay

Early childhood educators work hard to prepare young children for the transition into kindergarten. The importance of pre-kindergarten education has resulted in a larger number of preschool teachers needed across the country. These educators should have certain characteristics to be effective teachers. To properly prepare young children, the teachers must have patience, compassion and creativity. For most students in preschool, this is their first experience with schooling. These children commonly struggle with following classroom rules and staying focused while working on activities. Preschool teachers must be patient with these beginning learners and understand that, without previous school experience, everything is new to them. Without patience, the teachers are likely to become frustrated, and the overall effectiveness of the lesson being taught will ultimately suffer. Preschool students often struggle to control their emotions. This is because they are still developing the skills needed to handle sadness, anger and other emotions. Preschool teachers need to understand that children this age do not have the ability to control their emotions on their own. This means these teachers must be compassionate and understanding. They need to offer comfort to scared or upset students when it is needed, instead of ignoring their feelings. Keeping preschool age students engaged in learning activities can be difficult. Preschool teachers must have the creativity needed to create interesting lessons that teach and entertain kids. Art activities can make lessons easier for preschoolers to learn. They also allow them to practice the skills that they are learning without getting bored or losing focus. Preschool is also a time when students develop their imaginative play skills. These skills are used in everything during this stage. If you engage students in creative activities, the preschool teacher can help them learn these skills and give them with the opportunity to explore their imagination. These are just a couple of examples of characteristics that an early childhood educator should posses. Without the proper skill set, teaching preschool aged children may be more difficult than it needs to be. However, if you do have these characteristics, you have the ability to be a successful educator.

Did Timothy Quill behave appropriately towards Diana What is the best Essay

Did Timothy Quill behave appropriately towards Diana What is the best argument to the conclusion that he did not Would it have been different if he had given - Essay Example The doomed person has a right to decide about her life and body. It is not exactly euthanasia, because she was not particularly helped by any one in the deed. No doubt, there were indirect guiding hands that assisted her through every step towards the unhappy end. With all the amazing advancement in the world of science and medicine, we still have been unable to stop the pain, helplessness and suffering. A large amount of money is being continuously spent by all nations on cancer research; but till now, it had been done in vain, while cancer still remains the most dreaded and horrifying disease of all. The unreasonable striking of the disease, intolerable agony it causes, the hopelessness of an impending death sentence and the ultimate cruelty of an unbearably painful end – cancer had remained the worst killer of modern times, which unfailingly makes the human beings realise the mortality of life. Diane, who had already gone through another form of cancer rather successfully, was not horrified beyond limits. She was angry at her unrelenting fate, sad that she had to decide on her own death; but once she accepted it as her destiny, she neither fought against it, nor wasted her remaining short time, crying over it. Her only demand was that she should be allowed to make her own decision, which she eventually did, with a slight, but not pronounced help from Timothy. Timothy was aware of the outcome of a natural end and he had witnessed the agony of his patients dying of cancer, in sheer helplessness and impotency. After discussing the matter again and again with Diane, whom he admired by the way, in which she fought her various battles, Timothy decided to stand by her. He was convinced that Diane not only has taken the easy way out, but also has chosen the best alternative under the circumstances. She hardly had any great choices. Timothy knew how difficult it is to take one†™s own life,

Saudi EFL Instructors' and Students' Perceptions toward Implementing Essay

Saudi EFL Instructors' and Students' Perceptions toward Implementing MALL in High Education - Essay Example This has resulted in new approaches of teaching and learning and this has made it possible to devise teaching plans within and outside the classrooms. The incorporation of technology into education is supported by a number of theories including behaviorism, constructivism, situated learning theory, collaborative learning theory, informal and lifelong learning theory (Naismith et al., 2004). In the field of teaching and learning new languages, many models that are based on the utilization of technologies have emerged. These technologies play a crucial role in the improvement of the educational process. Computer-assisted language learning (CALL) is one of these models in which students use computers to learn the language (Levy, 1997).Although CALL gained its popularity in many developed countries in the early 1980s, Saudi Arabia unfortunately did not introduce computers to its educational system until the last decade of the twentieth century (Oyaid, 2007). As a result of the constant developments in the field of ICT, a new stage of CALL developed known as mobile-assisted language learning (MALL) in which students use mobile devices in the language learning process (Begum, 2011). These devices are the new generation of computers and include personal portable mobile devices such as cell phones, MP3/MP4 players, personal digital assistants and palmtop computers used for lan guage learning (Kukulska-hulme, 2008). For the purpose of this paper, the researcher will focus on the use of smart phones and tablets for the delivery of higher education. Regardless of the challenges that result due the usage of mobile devices in education, a number of successful attempts have occurred in different parts of the world. This successful usage resulted in improving the linguistic competence of the students (for example, Thornton and Houser, 2003; Myers, 2000). However, it needs to be understood that in order to successfully implement MALL in any

Michel Foucault. Panopticism Essay Example | Topics and Well Written Essays - 500 words

Michel Foucault. Panopticism - Essay Example This visibility is actually a trap: prisoners can see each other but cannot communicate. â€Å"The major effect of the Panopticon: to induce in the inmate a state of conscious and permanent visibility that assures the automatic functioning of power† (Foucault). Paradoxical at first glance, Foucault’s writing parallels contemporary realities and conflicts. Panopticon exemplifies a unique analogy of present day surveillance relations and principles (Simon 2). Panopticon also closely resembles and redefines the essence of modern communications, particularly, the Internet (Winokur 1). Winokur suggests that, through the prism of Foucault’s writings, the Internet makes users question the mere essence of electronic communications and relations (1). Why the Panopticon-Internet relationship? The answer is simple: both operate as complex poststructuralist models of human relations with permanent and conscious visibility as the main prerequisites for the successful use of power (Winokur 1). The Internet is more panoptic than cinema or television. It is a bi-directional space, in which people observe other people through the computer monitor. Contrary to most beliefs, the Internet is not an instrument of socialization and empowerment but merely a tool of remote control (Winokur 5). This is where Foucault’s Panopticon turns into a symbol of present day surveillance relations. However, Foucault’s writing is much more complicated than it seems; and so is the world described by the philosopher in his famous work. The writing deserves much attention and analysis to understand its real meaning and writer’s idea. The Panopticon is not merely an instrument and medium of power, its meaning is really more important. It is the symbol of social resistance and control (Simon 3). It is a representation of a socio-material epistemology (Simon 3). Panopticon shapes a unique but extremely

The Economics of Natural Resource Availability Essay

The Economics of Natural Resource Availability - Essay Example Every market strategy should cover the price and output strategy, the reaction of price and output strategy of other competitors in the market. There are large numbers of applications of business in this technological and advanced scenario. There are web and net facilities to all one should have an access to the internet facilities for business helps in advertising the introduction of the products and new designs The computer programming one of the most important things to consider the work based on software’s introducing different software. Small industries at small scales mean the garment factory leather and so on, small educational institutions such as small schools, investments in the small business of departmental stores, whole sellers and retailers. Keynes describes the study of unemployment with the business cycle he gives the study of aggregate demand. In Keynes view, using applying the fiscal policy can reduce the fluctuations in business cycle and monetary policy fiscal policy is the government policy and monetary policy concerned with the policy by a central bank and the government departments too. The Keynesian economics is based on the 20th-century ideas. In the Keynesian view, there are many macroeconomic variables, which have an impact on the individual’s microeconomics functions. In Keynesian economics, the discussion of aggregate demand with the individuals demands the goods. In his view there are many changes bring by the government by implementing the fiscal and monetary policy to take control over the economy and prevent it from downfall. The supply side economics is concerned with the implementation of monetary and fiscal policy it focuses on the monetary policy the study of money demand and its supply monetary policy is only concerned with the changes in the money supply not with the interest rate, the changes in interest rates are managed by the fiscal policy.  Ã‚  

Stem cells and society Essay Example | Topics and Well Written Essays - 750 words

Stem cells and society - Essay Example The lost cells and tissues by the repeated chemotherapy and radiations can be easily replaced in cancer patients. It helps in the better understanding of genetic diseases too.  Ã‚  Ã‚   The clinical application of this property has had much interest to the biomedical researchers in the recent years. There had been a number of researches confirming the clinical application of cloning.   Stojanoski et al, (2009, 71-84) has opined that stem cells that are taken from the peripheral blood, bone marrow and umbilical cord can be cloned to treat heametological malignancies. The same study has also revealed the possibility of utilizing stem cell clones in the treatment of non heametological diseases, heart problems, diseases pertaining to the immune system and degenerative disorders (Stojanoski et al, 2009, 71-84). Thus the study confirms the role of cloning in evolving with potential solutions to a number of detrimental diseases. Thus the importance of cloning in relation to its clinical application can be considered of due relevance. Stojanoski et al, (2009, 71-84) has further confirmed this point by citing examples from the successful case studies done at the Hematology Department, Skopje and the Skopje Cardiology clinic. Acute Myocardial infraction has been reported by the study as treated effectively using clones of stem cells from bone marrow Stojanoski et al, (2009, 71-84) The study has urged further research in the area so that it can be developed as a confirmed therapeutic solution.

Managing information and financial resources Essay

Managing information and financial resources - Essay Example Profitability of Astra Zeneca has been analyzed by using four profitability ratios, namely gross profit ratio, operating profit ratio, return on total assets, and net profit ratio. Gross profit measures the percentage of each sales dollar remaining after the company has paid for the goods sold. In fact this is the margin of profit created by sales to meet overheads and other expenses. Astra has shown an improvement in this area of profitability as its gross profit has increased from 78.28% in 2007 to 79.12% in 2008. This also reflects the improvement in its efficiency in managing its cost of sales. Operating profits are also called EBIT (earnings before interest and taxes).These are pure profits because they measure only the profits earned on operations ignoring interest, taxes, and preference dividends. Astra has shown improvement in operating earnings in 2008 when compared with 2007. In 2008 operating profit ratio was 28.94% which is an efficient improvement when compared to 27.38% in 2007. Ratio of net profit remaining after taxes reflect the overall performance of the firm after meeting all expenses, overheads, finances expenses, and taxes. In 2007 this ratio was 19.04% which improved slightly to 19.4% in 2008. Profitability assessment can also be made on basis of return on total assets (ROA). It is also called return on investments. This ratio measures the overall efficiency of management in generating profits. Astra’s return on assets was 13.04% in 2008, which is a definite improvement over ROI of 11.67% in 2007. Liquidity of a firm represents the firm’s ability to meet its short term liabilities as those become due. In fact liquidity refers to the solvency of overall financial position of the firm. Liquidity of a firm is generally measured by its current ratio and quick ratio. However, average collection period and average payment period are related liquidity checks

Deities and Lesser Spirits Essay Example for Free

Deities and Lesser Spirits Essay Deities and Lesser SpiritsGods represented in mythology possess different characteristics. Lesser gods or deities may have ultimate power, finitude, good, or evil tied to the stories that tell about their lives and existence. The purpose of this paper is to define the terms ultimate power, finitude, good and evil and identify four mythological deities that personify these terms. Apollo, who is also referred to as Apollon, was a Greek Olympian god. His mother was Leto, a bride of Zeus. Apollo was a god of prophecy, healing, disease and plague, music, song and poetry, archery and he protected young life. He had ultimate power as a god. Ultimate power is defined as Gods are considered immortal and in control of lesser life forms (Theoi Greek Mythology, 2000-2007). Apollo had invented the flute and the lyre. Suprisingly, he had built the walls of Troy while simply playing the lyre. The Theoi Greek Mythology (2000-2007) stated, Apollo guarded the cattle of Laomedon in the valleys of Ida. In these two examples, it appears he in fact was the god of music, song and protection of young life. Finitude means being finite. Therefore, a god that personifies finitude is one whom only existed for a limited time (Language of Light Glossary, n.d.). The god that was chosen that represents finitude is Christ. Christ represented God during his tenure on earth and all the finite limitations that humans, created by God, face. Life with its choices puts a black or white finish on an individuals moral standing. Death representing the end of the opportunity to make those choices was experienced by Christ himself. Christ while interacting with both the Jews and Gentiles admonished individuals for a variety of sins and life styles that were uncharacteristic of a godly life. Measures were not applied to actions (i.e. tithing) but standards were applied to acts (the act of giving). The life Christ lived provided an example of finiteness people live with during their short lives but the reward as seen through Christs resurrection is infinite life in the realm of heaven. The definition of good as it relates to the gods is sometimes hard to define. Good is defined as having sought-after qualities, kind, merciful, high  morale values, religious, successful, fair to mention a few. With regard to the gods, a good god represented the positive, non-evil powers. Having a bountiful harvest, producing many children, finding love, and being successful in business could be tied to a god protecting the people. Although when researching good gods there seemed to be a shortage as compared to the gods associated with power or evil. A god that represented good was the Aztec god Quetzalcoatl, who was one of many gods in the Aztec belief system. Quetzalcoatl is reported to have given man the science of agriculture and writing as well as being the god of the morning and evening star and the wind. Quetzalcoatl was considered a hero among those who worshiped him and he fought with other gods for what he thought was right. Evil is defined by one source as morally bad or wrong (WordNet Search, n.d.). An evil deity is therefore, one whose actions are morally wrong. An example of a deity that personifies evil is the Devil. The Devil is a deity in Christianity that is described as a fallen angel who rebelled against God. The Devil best represents the term evil because of his hatred for humanity and all things created by God. According to Bible stories, throughout the history of mankind, the Devil has tempted humans to rebel against God and follow him. To achieve that end, the Devil is said to tell to tell lies and intentionally deceive people. The Devil promotes of deceit, sin, and other morally wrong behaviors. In fact, the devil is said to be the cause of original sin, which is the reason for the Apocalypse, or the second coming of Christ. The Devil rewards those who turn against God with eternity in Hell. In conclusion, the gods of mythology possess different characteristics. The story of Apollo is example of a god with ultimate power as he had healing power and could protect young life. Quetzalcoatl shows us good as he was considered a hero and worshiped for fighting for what was right. Christ represented God during his tenure on earth and all the finite limitations that humans face, such as death. The Devil is the ultimate example of evil as he intentionally deceives and promotes deceit, sin, and other morally  wrong behaviors. Stories tell about the existence and lives of deities and lesser gods and from those stories, one must decide which powers they possessed. References Davies, N. (1973). The Aztecs. Norman, Oklahoma, University ofOklahoma PressLanguage of Light Glossary. (N.D.). Retrieved November 4, 2007 from http://www.goddirect.org/glossary/f.htmTheoi Greek Mythology. (2000-2007). Apollon. Retrieved November 2, 2007, from http://www.theoi.com/WordNet Search. (n.d.). WordNet Search. Retrieved November 1, 2007, from http://wordnet.princeton.edu/perl/webwn?s=evilsub=Search+WordNeto2=o0=1o7=o5=o1=1o6=o4=o3=h

Future Sustainability Of The Mauritian Economy Tourism Essay

Future Sustainability Of The Mauritian Economy Tourism Essay 1. Introduction In recent years, many studies and researches were carried out on the contribution of tourism in the economic development of a country (Mishra et al, 2011). There is a general agreement that tourism has been of central importance in the social progress as well as an important contributor of widening socio-economic and cultural contacts throughout human history. Over the past years, many developing and developed nations have considered tourism as an option for their sustainable development. Mauritius is a small independent island located in the Indian Ocean, east of Madagascar with an area of 2,040 square kilometers (including St Brandon and Agalega Islands) and a population of almost 1.3 million. The island consists of people originating from India, China, Africa and Europe. With regard to its geographical position and of its volcanic origin, Mauritius has been gifted with natural assets that attract a very large number of tourists every year (Sobhee, 2008). As a small island economy, Mauritius has experienced very rapid industrial and tourism development during the last thirty years and until recently tourism has been growing very rapidly. In the 1970s, it has successfully transformed itself from a mono-crop economy to a diversified economy comprising agricultural, textile, tourism, Information and Technology and financial services. Tourism has become an important sector of the Mauritian economy playing a substantial part to the sustainable development of the country and in generating foreign exchange and employment opportunities. 2. Literature Review Tourism has developed itself from a relatively small-scale activity into one of the worlds largest industries and a rapidly growing global economy from the 1960s onwards. There has been an uninterrupted growth in international tourist arrivals from 25 million in 1950 to 438 million in 1990 and 681 million in 2000. In 2009, the international tourist arrivals were 880 million and the corresponding tourism receipts were US $852 million. For the year 2010, the United Nations World Tourism Organisation (UNWTO) forecasted a growth of 3% to 4% in arrivals generating about 21.7% of world GDP, 10% of global capital investments, 9% of worldwide employment and 22.2% of worldwide exports of goods and services. All the figures demonstrate the significant role of the tourism sector in the long-run growth of host countries across the world (Mishra et al, 2011). Today, many islands depend on international travel and tourism to enhance their economies. For example, tourism industry accounted for 20% of GDP, 33% of revenue and 66% of foreign exchange earnings in Maldives. Likewise, in Seychelles the tourism sector accounted for 12% of GDP, 30% of workforce and 70% of foreign exchange earnings (Lee et al, 2010). In Vanuatu, the contribution of tourism to the GDP increases from 16% in 1991 to 21.6% in 1998 (Meheuxa Parkerb, 2006). In Fiji, the sector accounted for 29.5% of GDP and 37% of foreign exchange earnings (Becken, 2005). In Bahamas, 60% of jobs are mainly due to the tourism industry (Apostolopoulos Gayle, 2002c). The above statistics shows that many Indian Ocean, Pacific and Carribean islands are highly dependent on tourism for their economic growth (Duval, 2004). In such cases, the economies of these islands are more vulnerable to external shocks and natural calamities like in the years 2008 and 2009, unless they have diversified thei r economies. Many developing countries have managed to increase their participation in the global economy through development of international tourism. International tourism is increasingly viewed as an important tool in promoting economic growth and alleviating poverty (Richardson, 2010). Researchers are of the view that the rapid growth of tourism sector causes an increase of household incomes and government revenue through its multiplier effect, improvements in the balance of payments and the growth of the tourism industry by itself. Tourism dollars are new dollars injected in an economy as they are spent and respent by employers and employees. The more money flows within an economy, the larger the multiplier effect. As such, tourism development has usually been thought to have a positive contribution to economic growth (Khan et al, 1995). Baum (1994) identified the following as the positive impact of tourism in an economy: Generating foreign exchange and foreign direct investment; Employment opportunities; Contribution to the local/host community; Conservational or environmental impact. 2.1 Revenue and Foreign Direct Investment (FDI) In terms of GDP, the tourist industry is the second most important after the manufacturing sector. Statistics (CSO, 2011) (Table 1) show that the annual tourist arrivals in 2010 has increased to more than 930,000 as compared to 871,356 in 2009, that is an increase of 7.3%. The industry contributes to 3.8% of the Gross Domestic Product (GDP) and tourism receipts for the year 2010 amounted to around Rs 39,456 million, thus showing an increase of 10.5% as compared to Rs 35,693 million in 2009. It is estimated that 980,000 tourists will visit Mauritius in 2011with receipts of Rs 42,500 million (+7.7%). The fall in tourist arrivals in 2009 can be explained by the world financial crisis that started to attain our economy and the government has taken several measures through the Additional Stimulus Package to redress the situation. Faced with the slumping revenue from the tourism industry in 2009, Directors of the various tourism boards of the Indian Ocean islands (Mauritius, Madagascar, Reunion, Seychelles, Comoros and Mayotte) develop a plan for the regions tourism industry under a common regional label, The Vanilla Islands. The objective was to address new target groups and to launch an authentic regional destination. The concept is based on four pillars: Facilitation of visa-free travel within the islands of the Indian Ocean; Extension and enhancement of the inter-island transportation network; Close operation between tour operators, hotels and authorities; The development of a homogenous marketing strategy focusing on the uniqueness of each island and at the same time strengthening the joint identity. The government also encouraged the liberalization of air access to stimulate tourism growth. Airlines like Corsair, entered the market, by linking France and Reunion Island with Mauritius. Also, the national airline, Air Mauritius, increased its flight frequency towards Europe and Asia. As a result, the tourism sector beneficiated from this policy. Tourists from all over the world come to Mauritius. They originate from Europe, Africa, Asia, Oceania and America as shown in the chart below. Our main market remains France and Reunion Island. Source CSO, 2011 The competitiveness of the tourism industry in Mauritius depends mainly on the service quality, value for money, safety, road infrastructure, communication network, political stability and social harmony among the different communities and ethnic groups. The main aim of the government and the Mauritius Tourism Promotion Authority (MTPA) is to continue to attract high-income visitors whose economic impacts are acknowledged to be more beneficial to the local economy than low-spending visitors. Figure 2 : Tourist arrival and Receipts (Rs m) from 2000 2006 Source: CSO, 2011 The Mauritian government has been under economic pressure to find other ways to sustain the economy following the phasing out of textile and sugar agreements and recent shocks of rising oil prices (Ramkissoon Nunkoo, 2008). The development of integrated resorts has been considered as an alternative to generate cash flows and sustain the economy. Several Integrated Resort Schemes (IRS) and Real Estates Scheme (RES) were approved with the idea that they will bring Foreign Direct Investment (FDI) to the economy. The total FDI for the year 2010 was Rs 12 billion, a record mark. FDI into hospitality and real estate sector reached Rs 3.7 billion in the first eight months of 2010 (Board of Investment, 2010) groping its way towards a semblance to the level of Rs 6 billion recorded in 2009. FDI brings long lasting and stable capital flows as they are invested in long term assets such as infrastructure. These funds are introduced into the economy contributing to the aggregate demand of the economy, and therefore to the economic growth of the economy. Local firms, due to the competition brought in by FDI, tend to become more productive to effectively counter the threat of the competitor from abroad. Higher productivity of firms contribute to the growth of the economy. 2.2 Employment Several strategies for tourism development have been found to be effective in creating employment and income opportunities for vulnerable and communities (UNWTO, 2000: Ashley et al, 2001). The tourism development projects that have been most successful include those that: Promote employment of the people in tourism businesses ( including training) Promote the establishment of tourism enterprises ( such as micro and small enterprises) Promote the supply of goods and services to tourism businesses by enterprises that are owned by local people (Supply chain) Promote the direct sale of goods and services to tourists Figure 3:- Employment in the tourist industry as at end of March, 2006-2010 2006 2007 2008 2009 2010 Restaurants 1,805 2,012 2,251 2,431 2,464 Hotels 19,536 20,233 22,314 20,478 20,847 Travel and Tourism 4,457 4,296 4,188 4,093 3,850 Total 25,798 26,541 28,753 27,002 27,161 Source: CSO, March 2011 The tourism industry contributes to around 9% of the total employment in 2010. The table shows that there has been a continuous increase in employment from 2006 to 2008 with a decrease in 2009 and again rises in 2010. The decrease in 2009 was due to the financial crisis that hit some tourism businesses and the renovation of some hotels. Employment in the services sector is rapidly increasing in Mauritius. As employment generated by the primary and secondary industries stagnates or declines with the Voluntary Retirement Scheme in the sugar sector and closing of some textile units, tourism provides new opportunities to generate new jobs. Tourism is a labour-intensive industry in an age of great technological advancement and declining relative demand for labour. The tourism industry and the related industries provide many full-time and part-time jobs across a range of skill areas such as tour operators, car rentals. The integrated resorts newly built also demand for jobs among the local community such as baby-sitters, gardeners, personal drivers, cooks, etc. 2.3 Contribution to the local community The literature point out that host communitys support for tourism-related development is crucial for the industrys sustainability (Tovar Lockwood, 2008). Once a community turns into a destination, the quality of life of the local people tends to be affected by the development impacts (Gursoy et al, 2002).Tourism is the only export sector where the consumer travels to the exporting country, which provides opportunities for local people to become exporters through the sale of goods and services to foreign tourists. Employment opportunities (Andriotis, 2008) and revenues (Jurowski et al, 1997) for the community and government are the major benefits derived by the local community from tourism development. Local employment opportunities arise during the construction and from the subsequent staffing of the resort (Ioannides Holcomb, 2003). The creation of new investment opportunities and opportunities for local businesses are other notable benefits perceived by local residents. Tourism provides new small business opportunities. Good opportunities for development of new tourism enterprises arise from low capital requirements and comparatively low barriers to entry for small businesses. The potential beneficiaries of tourism activity are spread across various sectors of the regional economy. For example, in Grand Baie, many individuals from the region benefit from tourism through the renting of small bungalows, cars and cycles. They also benefit by running restaurants and cafes meant for tourists. O ther activities like glass bottom, surfing and boats are also other means by which the local people generate incomes. Resort developers attempt to integrate the resort within the local community through fostering economic linkages with that community (Richardson, 2010). Tourism also stimulates demand for local craftsmanship, create opportunities for cultural exchange, stimulate better services and infrastructure and provide alternatives for leisure activities. It has been pointed out that in economically depressed areas (such as Le Morne), residents tend to underestimate the cost of tourism development and tend to overvalue the economic gains (Liu Var, 1986). Var et al (1985) argue that such residents are willing to accept some inconveniences in order to receive some benefits resulting from the development. Local community involvement in the planning, development and management of the projects is a factor that contributes to the success or sustainability of a tourism development project. Strategies that can be adopted by host communities (Honey Gilpin, 2009) include: Identify and protect cultural and natural assets that form the basis for comparative advantage in tourism Maintain and focus on the community as the centre of the tourism development strategy to ensure local ownership of projects and retention of profits Encourage widespread community participation in tourism planning processes Build capacity through the development of physical infrastructure and human capital Promote improvement in the delivery of tourism services to ensure quality and authenticity Raise awareness among tourists to encourage them to appreciate and respect the sites they visit. Tourism also plays a negative role to the local community. The erosion of moral values contributing to increase the generation gap between the older generations who are more attached to traditional values and the young who are eager to adapt to the tourists way of life. Hence, it is important to keep a balance in terms of number and type of tourist the local community is capable to tolerating or sustaining. A good example of the negative impact is the building of hotels and restaurants on our beaches, depriving Mauritian to enjoy the natures gift to them. We are near to renting a parasol on a private beach for a picnic at the seaside. Another example is the imposition of entry fees at Pamplemousses Botanical Garden both on tourists and local citizens (except on Sundays and public holidays free entrance). 2.4 Environment aspect Environment is one of the major elements which form the foundation of the tourism industry of a country. The impact of tourism on both man-made and natural environment is beneficial as well as harmful. One of the major benefits is the conservation of the natural and man-made environments. Tourism can contribute significantly in environmental protection/conservation and restoration of biological diversity and sustainable use of natural resources. Tourism impacts are linked with the construction of general infrastructure such as roads and airports and of tourism facilities such as resorts, hotels, restaurants, shops, golf courses and marinas. Cleaner production techniques can be important tools for planning and operating tourism facilities and thus minimizes their environmental impacts. Tourism has the potential to increase public appreciation of the environment. It brings people into closer contact with nature and the environment. Awareness of the value of nature leads to environmentally conscious behavior and activities to preserve the environment. Tourism industry can play a role in providing environmental information and awareness among tourists of the environmental consequences of their actions. User fees, taxes on sales rental of recreation equipment and license fees for activities like hunting and fishing can be used to provide the government with funds needed to manage natural resources. Such funds can be used for conservation programs and activities. Recently, the Minister of Tourism came with a proposal to have differential paid access at Ile Aux Cerfs for tourists and Mauritians. According to the authorities, this islet attracts more than 350,000 tourists yearly with a turnover of about Rs 500 million (Star, 2011).He stated that the funds raised will be used for cleaning of the beach and for the conservation of the environment. But, the effect of this policy on the local people in terms of jobs that may be lost need to be assessed. Tourism also can have negative impact on environment. Tourism development can put pressure on natural resources when it increases consumption in areas where resources are already scarce (land, water and local resources). Pollution caused by tourism include air emissions, noise, solid waste and littering, releases of sewage, oils and chemicals. 2.5 Threats for the tourism industry. In recent years, oil prices, natural disasters, crime and international terrorism impacted on the willingness of global tourists. Small islands depend on the double efficiency of tourism income. Therefore, developing tourism industries is imperative. However, to avoid damage by natural disasters, those islands may through early warning and alarm systems reduce losses (Mehexua Parkerb, 2006). In Malta, Egypt and Greece, many factors like terrorist attacks and tsunamis may influence tourism consumers and thereby affecting the tourism industry. In Fiji, problems of climate change such as strength of wind resulted in coastline damages thereby affecting beaches which tourists prefer the most during their stay. Since November 2009, when some European countries like Greece, Spain, Portugal and Britain started facing high budget deficit and debt problems, the euro has been weakening against the dollar and as a result against our rupee. Since then, these countries adopted austerity measures to exit from these economic problems. This resulted in a drop in demand for our exports and lower tourist arrivals due to the high dependence on European markets. There was a need, then, to diversify our markets by tapping fully the rapidly growing countries like China, India and Russia. From statistics (CSO, 2011), the trend of tourist arrivals from China, India and Russia shows an increase of 9.9%, 26.8% and 17.5% respectively over the figures of 2009. Vector-borne diseases such as chikungunya and dengue fever have become a major public health problem in tropical countries, especially in Asia and the Indian Ocean. For example, one third of the population in Reunion Island was affected by chikungunya in 2005 2006 (Reiter et al, 2006). Dengue is the fastest growing vector-borne disease in the world (WHO) when 55% of the worlds population was at risk in 124 countries (Beatty et al, 2007). Mavalankar et al (2009) pointed out that a 4% decline in tourists from non-endemic countries would result in a substantial loss of tourism revenues at least US$ 65 million for Malaysia and US$ 363 million for Thailand. This indicates that the impact of these diseases on tourism revenues should not be ignored when calculating the burden of infectious diseases. Another negative factor related to tourism is the perception people have of safety and security issues. Olurunfemi et al (2008) posits that security is an important knot in tne chain because it forms an organic bedrock of a sustainable benefit for both the tourists and the host communities. For example, assurance of adequate safety of life and property during their stay must be given to tourists and on transit on sites. Safety and security in tourism refers to the protection of life, health, physical, psychological and economic integrity of travelers, tourism staff and the people constituting host communities (WTO, 1991). Recently, the tourism sector has been seriously undermined by the growing lack of security among the citizens and tourists. Some types of crime affecting tourists include attacks on tourists visiting nature parks and on beaches and in hotels. In order to tackle the issue of security in tourism, the government has taken some preventive measures. For example, a close circuit camera system has been set up in the regions of Flic en Flac and Grand Baie which are reputed places for tourists in Mauritius. The results have been encouraging in the sense that there has been a fall in the number of attacks and thefts on tourists. Even the recent murder of a popular personality of Ireland in a resort seems to have little impact on tourist arrivals due to the prompt action taken by the local police. Conclusion The governments contribution to the tourism sector has been very beneficial in terms of planning and policy formulation. During the Assises Du Tourisme held in 2006, the Prime Minister expressed his vision to welcome two million tourists by 2015. He pointed out that many less endowed countries are doing much better than Mauritius. There are many factors that must be taken into consideration in order to achieve this target and these factors will be analysed in the methodology section.