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Developing a Critical Analysis of a Text

Keywords

Critical Analysis exercise; Critical Analysis Questions

This chapter focuses on how you can use your mental map in developing an in-depth analysis of any text from the front-line literature. The framework we put forward and exemplify in use is an elaboration of the Critical Summary based on the five Critical Synopsis Questions that you met in Part One. Completing a Critical Analysis of a text takes a lot of effort. But you will reap some very valuable rewards if you make that effort for the texts that are of most central significance for your work. First, you will get to know the texts extremely well and will have quite comprehensively evaluated them. Second, you will have assembled, in a structured format, the basis for writing an incisive Critical Review of each text individually, or a Comparative Critical Review of multiple texts (to be discussed in Chapter 11). Most importantly, the more Critical Analyses you do, the more familiar you will become with the key and components of your mental map, and with the Critical Analysis Questions that can be asked of a text. Eventually, using the map and asking the Critical Analysis Questions will become automatic. Then you will be in a position to use your mental map and Critical Analysis Questions selectively, without necessarily having to check whether you have forgotten to ask any questions, or needing to write your responses down.

We now introduce our structured approach for undertaking a Critical Analysis of a text. At the end of the chapter, once you have read through these ideas, we invite you to conduct your own full Critical Analysis of Wallace’s article in Appendix 2, referring as you go along to the various sources of guidance we have provided. (In the following chapter, we will offer our own Critical Analysis along with comments on our reasoning at each step, so that you can compare your responses with ours.)

From five Critical Synopsis Questions to ten Critical Analysis Questions

The five Critical Synopsis Questions introduced in Chapter 3 encouraged you to:

• think why you are investing your time in reading a particular text;
• get a sense of what the authors have done to convince their target audience;
• summarize what they have to say that is of relevance to you;
• consider how convincing their account is; and
• draw a conclusion about how you might use the text for your purposes, in the light of its content and your evaluation of the authors’ argument.

The ten Critical Analysis Questions do the same job (Table 9.1), but in more detail. The first expansion, in Critical Analysis Questions 2 and 3, helps you analyse what the authors are doing (and so alerts you to potential limitations of their work that might affect how convincing you find their claims). The second expansion, in Critical Analysis Questions 5 to 9, helps you evaluate the claims in a more sophisticated way.

We will presently introduce a form that is completed as part of the process of conducting the structured Critical Analysis. The form contains ideas to guide your critical thinking at three levels:

1. The Critical Analysis Questions, numbered 1–10, to ask yourself when reading and analysing a text.
2. For most of these Critical Analysis Questions, one or more sub-questions, lettered (a), (b) and so on, that help to highlight aspects of the question.
3. Prompts, enclosed in brackets, to draw your attention to possible details you could look out for in working towards your answer to any Critical Analysis Question or sub-question.

We suggest you carry out your Critical Analysis at the same time as you read a text, rather than afterwards. The Critical Analysis Questions are grouped to form a sequence:

Table 9.1 Linking Critical Synopsis Questions with Critical Analysis Questions

Critical Synopsis Question

Associated Critical Analysis Question(s)

A  Why am I reading this?

1  What review question am I asking of this text?

B  What are the authors trying to do in writing this?

2  What type of literature is this?

3  What sort of intellectual project is being undertaken?

C  What are the authors saying that is ? relevant to what I want to find out?

4  What is being claimed that is relevant to answering my review question?

D  How convincing is what the authors are saying?

5  To what extent is there backing for claims?

6  How adequately does any theoretical orientation support claims?

7  To what extent does any value stance affect claims?

8  To what extent are claims supported or challenged by others’ work?

9  To what extent are claims consistent with my experience?

E  In conclusion, what use can I make of this?

10  What is my summary evaluation of the text in relation to my review question?

• Critical Analysis Question 1 encourages you to think about why you have selected the text and how your Critical Analysis of it may contribute to your enquiry.
• Critical Analysis Questions 2 and 3 guide you in determining what the authors are attempting to do and alert you to potentially fruitful lines of critical questioning.
• Critical Analysis Question 4 encourages you to summarize whatever content of the text is of significance to you.
• Critical Analysis Questions 5, 6, 7, 8 and 9 are complementary. Together they help you to examine critically different aspects of this content to see to what extent you find it convincing.
• Critical Analysis Question 10 invites you to form a conclusion, in the light of your Critical Analysis, based on your informed judgement about the extent to which any claims relating to the focus of your enquiry are convincing, and why.

Below, we set out all the Critical Analysis Questions, sub-questions and prompts in the order that they appear on the blank Critical Analysis form. Beneath each of the ten Critical Analysis Questions, we have offered our rationale (shaded) for why we consider it important to ask this question of the text.

We suggest you now read carefully through the explanations, checking that you understand the rationale for each Critical Analysis Question.

Advice on making effective use of Critical Analysis Questions

1  What review question am I asking of this text?

(e.g., What is my central question? Why select this text? Does the Critical Analysis of this text fit into my investigation with a wider focus? What is my constructive purpose in undertaking a Critical Analysis of this text?)

Rationale for Critical Analysis Question 1. It is crucial to begin by identifying a review question. In an essay, this question may map onto a central question, while in a longer piece of work it will probably reflect one aspect of the central question. The review question provides you with a rationale for selecting a particular text and a constructive purpose for reading it critically. Any text you select should potentially contribute to addressing your review question.

2  What type of literature is this?

(e.g., Theoretical, research, practice, policy? Are there links with other types of literature?)

Rationale for Critical Analysis Question 2. Identifying the main type of literature that the text belongs to will help you to predict what its features are likely to be. The type of literature will indicate the main kind of knowledge embodied in any claim, enabling you to check whether typical limitations of claims to this kind of knowledge may apply. (See the section in Chapter 8 on types of literature, including Table 8.1.)

3   What sort of intellectual project for study is being undertaken?

Rationale for Critical Analysis Question 3. Establishing the authors’ intellectual project will clue you in to what they are trying to achieve, why and how. You will be aware of whom they are seeking to convince of their argument and associated claims to knowledge. You will then be in a good position to evaluate what they have done. (See the section in Chapter 8 on different sorts of intellectual project, including Table 8.2.)

Sub-questions

(a)  How clear is it which intellectual project the authors are undertaking? (i.e., Knowledge-for-understanding, knowledge-for-critical evaluation, knowledge-for-action, instrumentalism, reflexive action?)

(b)  How is the intellectual project reflected in the authors’ mode of working? (e.g., A social science or a practical orientation? Choice of methodology and methods? An interest in understanding or in improving practice?)

(c)  What value stance is adopted towards the practice or policy investigated? (e.g., Relatively impartial, critical, positive, unclear? What assumptions are made about the possibility of improvement? Whose practice or policy is the focus of interest?)

(d)  How does the sort of intellectual project being undertaken affect the research questions addressed? (e.g., Investigation of what happens? What is wrong? How well a particular policy or intervention works in practice?)

(e)  How does the sort of intellectual project being undertaken affect the place of theory? (e.g., Is the Investigation informed by theory? Generating theory? Atheoretical? Developing social science theory or a practical theory?)

(f)  How does the authors’ target audience affect the reporting of research? (e.g., Do the authors assume academic knowledge of methods? Criticize policy? Offer recommendations for action?)

4  What is being claimed that is relevant to answering my review question?

Rationale for Critical Analysis Question 4. As a basis for considering whether what the authors have written is convincing, you will need to identify any argument that they are putting forward in the text and establish what main claims to particular kinds of knowledge underlie it. Concentrate on identifying a small number of major ideas by summarizing the content of the text. Try to avoid getting distracted by minor details. (See the section in Chapter 8 on kinds of knowledge, including Figure 8.1.) As further preparation for a critical consideration of the authors’ claims, it is helpful to work out the degree of certainty with which any knowledge claim is asserted and the degree to which the authors generalize beyond the context from which the claim to knowledge was derived. (See the section in Chapter 7 on dimensions of variation among knowledge claims, including Figure 7.1.)

Sub-questions

(a)  What are the main kinds of knowledge claim that the authors are making? (e.g., Theoretical knowledge, research knowledge, practice knowledge?)

(b)  What is the content of each of the main claims to knowledge and of the overall argument? (e.g., What, in a sentence, is being argued? What are the three to five most significant claims that encompass much of the detail? Are there key prescriptions for improving policy or practice?)

(c)  How clear are the authors’ claims and overall argument? (e.g., Stated in an abstract, introduction or conclusion? Unclear?)

(d)  With what degree of certainty do the authors make their claims? (e.g., Do they indicate tentativeness? Qualify their claims by acknowledging limitations of their evidence? Acknowledge others’ counter-evidence? Acknowledge that the situation may have changed since data collection?)

(e)  How generalized are the authors’ claims – to what range of phenomena are they claimed to apply? (e.g., The specific context from which the claims were derived? Other similar contexts? A national system? A culture? Universal? Is the degree of generalization implicit? Unspecified?)

(f)  How consistent are the authors’ claims with each other? (e.g., Do all claims fit together in supporting an argument? Do any claims contradict each other?)

5  To what extent is there backing for claims?

Rationale for Critical Analysis Question 5. It is important to check the extent to which the main claims to knowledge upon which any argument rests are sufficiently well supported to convince you, whether through evidence provided by the authors or through other sources of backing. (See the section in Chapter 7 on dimensions of variation amongst knowledge claims, including Figure 7.1, and the section in Chapter 8 on types of literature, including the potential limitations of claims to knowledge listed in Table 8.1.)

Sub-questions

(a)  How transparent are any sources used to back the claims? (e.g., Is there any statement of the basis for assertions? Are sources unspecified?)

(b)  What, if any, range of sources is used to back the claims? (e.g., First-hand experience? The authors’ own practice knowledge or research? Literature about others’ practice knowledge or research? Literature about reviews of practice knowledge or research? Literature about others’ polemic? Is the range of sources adequate?)

(c)  If claims are at least partly based on the authors’ own research, how robust is the evidence? (e.g., Are there methodological limitations or flaws in the methods employed? Do the methods include cross-checking or ‘triangulation’ of accounts? What is the sample size and is it large enough to support the claims being made? Is there an adequately detailed account of data collection and analysis? Is there a summary of all data that is reported?)

(d)  Are sources of backing for claims consistent with the degree of certainty and the degree of generalization? (e.g., Is there sufficient evidence to support claims made with a high degree of certainty? Is there sufficient evidence from other contexts to support claims entailing extensive generalization?)

6  How adequately does any theoretical orientation support claims?

Rationale for Critical Analysis Question 6. Any text must employ certain concepts to make sense of whatever aspect of the social world is being discussed. Many texts will feature an explicit theoretical orientation as a framework for understanding and possibly as a basis for the authors’ recommendations for improvement. You will need to decide whether the claims being made are clear and coherent, and whether you accept the assumptions on which they rest. To assist your critical reflection, check which concepts and other tools for thinking have been used, what they are taken to mean and how they frame the claims being made. (See the section in Chapter 6 on tools for thinking, the section in Chapter 8 on types of literature, including the potential limitations of claims to knowledge listed in Table 8.1, and the section on different sorts of intellectual project, including Table 8.2.)

Sub-questions

(a)  How explicit are the authors about any theoretical orientation or conceptual framework? (e.g., Is there a conceptual framework guiding the data collection? Is a conceptual framework selected after the data collection to guide analysis? Is there a largely implicit theoretical orientation?)

(b)  What assumptions does any explicit or implicit theoretical orientation make that may affect the authors’ claims? (e.g., Does a particular perspective focus attention on some aspects and under-emphasize others? If more than one perspective is used, how coherently do the different perspectives relate to each other?)

(c)  What are the key concepts underpinning any explicit or implicit theoretical orientation? (e.g., Are they listed? Are they stipulatively defined? Are concepts mutually compatible? Is the use of concepts consistent? Is the use of concepts congruent with others’ use of the same concepts?)

7  To what extent does any value stance adopted affect claims?

Rationale for Critical Analysis Question 7. Since no investigation of the social world can be completely value-free, all claims to knowledge will reflect the value stance that has been adopted. So it is important to check what values have guided the authors of a text, how these values affect their claims and the extent to which the value stance makes the claims more or less convincing. (See the section in Chapter 6 on tools for thinking, the section in Chapter 8 on types of literature, including the potential limitations of claims to knowledge listed in Table 8.1, and the section on different sorts of intellectual project, including Table 8.2.)

Sub-questions

(a)  How explicit are the authors about any value stance connected with the phenomena? (e.g., A relatively impartial, critical or positive stance? Is this stance informed by a particular ideology? Is it adopted before or after data collection?)

(b)  How might any explicit or implicit value stance adopted by the authors be affecting their claims? (e.g., Have they pre-judged the phenomena discussed? Are they biased? Is it legitimate for the authors to adopt their particular value stance? Have they over-emphasized some aspects of the phenomenon while under-emphasizing others?)

8  To what extent are claims supported or challenged by others’ work?

Rationale for Critical Analysis Question 8. It is unlikely that any study of an aspect of the social world will be wholly unrelated to others’ work. One valuable check is therefore to examine whether authors make links with other studies. Another is to consider, from your knowledge of other literature, how far the claims being made are supported by work that others have done. So you may wish to refer to other texts that address phenomena related to the text you are analysing.

Sub-questions

(a)  Do the authors relate their claims to others’ work? (e.g., Do the authors refer to others’ published evidence, theoretical orientations or value stances to support their claims? Do they acknowledge others’ counter-evidence?)

(b)  If the authors use evidence from others’ work to support their claims, how robust is it? (e.g., As for 5(c).)

(c)  Is there any evidence from others’ work that challenges the authors’ claims and, if so, how robust is it? (e.g., Is there relevant research or practice literature? Check any as for 5(c).)

9  To what extent are claims consistent with my experience?

Rationale for Critical Analysis Question 9. Your own experience of the social world will probably not be identical to that being studied in the text but it is still relevant. In considering how convincing the claims made in a text may be, it is worth checking whether these claims have significant similarities with your experience and evaluating whether they sound feasible or unrealistic, given what you know from experience.

10  What is my summary evaluation of the text in relation to my review question?

Rationale for Critical Analysis Question 10. What you have learned from your answers to Critical Analysis Questions 2–9 provides the basis for your overall, well-informed and balanced judgement about how convincing are the claims being made that relate to your review question (Critical Analysis Question 1). All your answers will now be available for you to draw upon selectively as you write an account of the text when addressing the review question that has driven your critical reading activity.

Sub-questions

(a)  How convincing are the authors’ claims and why?

(b)  How, if at all, could the authors have provided stronger backing for their claims?

Appendix 3 is a blank Critical Analysis form. You may wish to photocopy it and then complete one form for each text that you analyse in detail. If you have access to a computer, you may prefer to create a master file by typing in the content of the blank form, then using it as a template. (You can also download a Critical Analysis template from the SAGE website: www.sagepub.co.uk/wallaceandwray.) You will find it useful to save each completed Critical Analysis form as a separate file on your computer. Computerizing the form enables you to write as much as you like in answering each question. If you print out a completed Critical Analysis form, keep it with the original text if possible. Then you can quickly refer back to the text if necessary.

Your Critical Analysis of an article reporting research

To make the exercise work, we will specify the two review questions that you should ask of Wallace’s text. (We have done this so that you can compare your responses with ours, which we will provide in the next chapter.) The review questions are:

1. What does this text suggest may be key factors promoting or inhibiting the effectiveness of a particular aspect of educational leadership and management practice?
2. To what extent are the factors identified applicable to the leadership and management of my organization or one known to me?

Remember that you can refer, as necessary, to:

• the discussion in Chapters 6–8 relating to the key and components of your mental map;
• Table 8.1 for a list of potential limitations of each type of literature that you can look out for;
• the advice in this chapter on making effective use of each Critical Analysis Question.

(We have indicated above that knowledge of other relevant literature is needed to complete Critical Analysis Question 8, sub-question (c). However, if our example paper is not within your subject area, you do not need to refer to other texts in this exercise.)

Students embarking on a detailed Critical Analysis like this for the first time often encounter difficulties in finding answers to one or more questions, but it is important not to give up too soon. Always think carefully about how the text might, in fact, contain the information, perhaps implicitly, that you need. Expect to read the text with great attention in order to detect some of the indicators that you are looking for. Now complete your own Critical Analysis of Wallace’s article in Appendix 2 (for which you may wish to use the blank form in Appendix 3).

Once you have completed your Critical Analysis, turn to the next chapter. You will be able to check your responses to each Critical Analysis Question or sub-question against ours, to see what our rationale was for each of our responses and to decide whether you agree or not.

    

Synoptic Exercise Instructions

Luke’s Prologue (Luke 1:1-4) indicates that Luke used sources in composing his Gospel. Luke calls them “eyewitnesses” and indicates that he was not one of those eyewitnesses but relied upon them in composing his Gospel. That is, they were “sources” for his Gospel. Because we believe that Luke was inspired by God to write what he did, apparently the use of sources is not incompatible with the belief that the Gospels are both inspired and inerrant.

In the two Synoptic Exercises that follow, you will work directly with the evidence from both the triple tradition (places where Matthew, Mark, and Luke tell the same story), and the double tradition (places where only Matthew and Luke tell the same story), assessing and reflecting on what you discover about the potential sources for the Synoptic Gospels. For example:

• In Synoptic Exercise 1 (triple tradition) you will find, as you might expected, a lot of black (words common to Matthew, Mark, and Luke). Of course, one must account for why they all aren’t black! That is, it’s not just the similarities that call for explanation, but more so the differences. You also find considerable red (words unique to Matthew), blue (words unique to Mark), and pink (words unique to Luke). You might account for that by saying that all three Gospels tell the same story, sometimes using the same words, sometimes different words. But how do account for the green (words common to Mark and Luke but not in Matthew) and purple (words common to Matthew and Mark but not in Luke)? Reflecting on what you discovered in Synoptic Exercise 1, does it appear that one of the Gospels was a source for the other two? If so, which one?

• In Synoptic Exercise 2, you will look at the double tradition (stories shared by Matthew and Luke, but not by Mark). The large amount of orange (words common to Matthew and Luke, but not in Mark) you discover is unsurprising. But how do you account for the red (words unique to Matthew), and pink (words unique to Luke)? Logically, there are three possibilities: (1) Matthew used Luke and added some words of his own; (2) Luke used Matthew and added some words of his own; (3) both Matthew and Luke used a third source and added their own individual words to it. Based on what you discovered in Synoptic Exercise 2, which seems more likely to you?

Once you have completed both coloring exercises and reflected on some of the questions above, you are ready to compose your discussion board thread.

To summarize, this discussion board assignment calls for you to do the following:

1. Using the MS Word text color feature, color the texts for both Synoptic Exercise 1 (triple tradition) and Synoptic Exercise 2 (double tradition) according to the instructions.

2. Reflect on your colored-in assignments. What color patterns did you discover? Any surprises? If so, what? Any thoughts surface as to which Gospel may have been a source for the others? What makes you think so?

3. Compare what you discovered in the coloring exercises to the solutions for the Synoptic Problem you read about in your textbook and heard about in the PointeCast presentation on “The Synoptic Problem.”

4. Choose one of the proposed solutions to the Synoptic Problem that best seems to account for the evidence you discovered in the coloring assignment.

5. Compose a discussion board thread of 400 words minimum in which you (1) present your findings in the coloring exercise; and (2) defend a proposed solution to the Synoptic Problem based on those findings.

6. Upload your completed, colored-in Synoptic Exercises as attachments to your discussion board thread.

  

ENGL-Assignment01

Aristotle writes a review.  Imagine there is a hole in the space/time continuum, and Aristotle has popped into modern times as a literary consultant.  You are Aristotle.  Your job is to evaluate either A View from the Bridge or How I Learned to Drive for possible production in our time. Write your recommendations to the artistic director of the theater.  Do you approve of this play, Aristotle?  What changes are needed?  Aristotle, you’re a smart guy, so you’ll have to make some concessions to modern times.  Assume, also, that you can write in idiomatic contemporary English and that you understand MLA citation form.  Your review should include paraphrases and direct quotes from The Poetics. This paper should be 600 to 800 words  

For this essay, you are asked to compare Confucian, Daoist [Taoist], and Legalist ideas about how people should be governed. To do so, review what happened in China during the long Zhou Dynasty and the Qin Dynasty (Chapter 3, pp. 122-134; Khan Academy, “The Philosophers of the Warring States”). As our textbook explains, during the later Zhou Dynasty (the Warring States Period), China fell into disarray as several states warred with one another for the right to rule the land. It was in this context that individuals engaged in philosophical reflection on what was needful to restore order and a good society. These individuals were later categorized as belonging to different schools of thought. Confucianism, Daoism, and Legalism were three of the most important.

For this essay,

Part I-Read the historical background of the philosophies in your textbook and then read selections on governing from Confucius’s Analects, the Laozi (“Old Master”, also known as the Dao de jing), and the Han Feizi (Master Han Fei). These are, respectively, Confucian, Daoist, and Legalist texts, and the selections introduce the author or the person to whom the writing is rightly or wrongly attributed.

Part II–To write this essay using our textbook and the other resources provided above, to introduce the historical setting (time, place, events), these three texts and their authors (or putative authors), and the topic of the paper. The topic for this paper is Confucian, Daoist, and Legalist ideas about how people should be governed, and their similarities or differences. Explain these ideas based strictly on these three primary sources (be sure to read the entire selection), using Berger to better help you understand the philosophies. The previous highlighted point is important. Go to these ancient sources for yourself, and develop your insights based on them, and explain your reasoning based on them. That means quoting or paraphrasing them as necessary to explain your thinking. Then conclude. Remember that when you quote a source you must place it within quotation marks and cite it. You must also cite a source if you paraphrase it–that is a standard method in all research.

Part III-Lastly, argue which one of the philosophies you think would best govern a country and why–that is explain your reasoning using historical examples from your textbook.

Writing Guidelines:

• Your completed essay for the assignment should be roughly 800-1000 words–not including your bibliography.
• You must write in complete sentences and paragraphs. Bullet points or lists will not be accepted.
• All essays must include the following components in the order you see listed:
  • An introduction
  • A thesis.
  • A methodology
  • A main body of evidence to support your thesis.
  • Concluding points
  • Throughout the essay and for each paragraph you need to include one or more footnotes–to insert footnotes into your essay refer to this instruction. Essays without footnotes will not be earning marks higher than a C-.https://www.youtube.com/watch?v=xFnH1YZOK1c
  • A bibliography–this is to be alphabeted.
• Please cite your sources internally using footnotes–no paranthetical references allowed.  Also, you must include a complete bibliography at the end of your paper.
• Introducing materials from other sources outside of those allowed risks plagiarism and should be avoided. 
• Use ONLY Turabian format for your footnotes and your  bibliography. NOTE: All paragraphs must have at least one footnote since all of your writing will be reliant on your understanding of our allowed sources.
• Be original – This means the writing ought to be in your own words and not the words of other authors. All papers submitted in this class are reviewed via Turnitin.com, a proprietary software database that identifies unoriginal material in papers. Please review the syllabus statement regarding the penalty for plagiarism.
• Refer to the Guidelines for Writing your Essay on the syllabus for additional writing assignment criteria. 
• Submit your citations and bibliography within your paper.  Everything should be saved and submitted in one document.

resources 

• BERGER, WORLD HISTORY, CHAPTER 4, “Philosophy in a Time of Turmoil: Confucianism and Daoism [Taoism[,” page 127-130
• “The Philosophers of the Warring States,” World History, Khan Academy. https://www.khanacademy.org/humanities/world-history/ancient-medieval/zhou-qin-han-china/a/the-philosophers-of-the-warring-states
• “Confucius,” Columbia University http://afe.easia.columbia.edu/ps/cup/confucius_govt.pdf
• “Laozi,” Columbia University, http://afe.easia.columbia.edu/ps/cup/laozi_govt.pdf
• “Hanfei: The Five Vermin,” Columbia University http://afe.easia.columbia.edu/ps/cup/hanfei_five_vermin.pdf

DUE IN 12 HOURS

 INSTRUCTIONS ATTACHED

Overview: For this assignment, you will write a short paper about the differences and similarities between the types of currency derivatives. In addition, you will apply the knowledge of currency derivatives and the rationale for each in a recommendation for your final project MNC. 

Prompt: To complete this assignment, read the required resources for Module Four. 

Discuss the differences and similarities between the different types of currency derivatives and how you would use the ones discussed in this module.  Make a currency derivative recommendation for your final project MNC, and discuss how this would benefit the MNC. 

Provide examples from the module resources and previous learning. 

Rubric Guidelines for Submission: 

Submit this assignment as a Word document with double spacing, 12-point Times New Roman font, and one-inch margins. The submission should be 2 to 3 paragraphs in length. 

For this assignment, you will play the first run of the Macroeconomics Simulation: Econland from Harvard Business Review, in which you will act as policy adviser for the fictional country of Econland. Select the “Base Case” scenario for this practice run. You may play the simulation as many times as you like. 

In your submission, remember to include the image of your simulation report.  Then, reflect on the decisions you made in the simulation and address the following government intervention options in your submission:

• Macroeconomic Indicators: During the simulation, you made decisions concerning government spending. Discuss the impact of your decisions on key macroeconomic indicators such as real GDP growth and unemployment. Refer to the graphs “Real GDP Growth” and “Unemployment Rate” from your simulation results to illustrate the impact.
• Interest Rates: Describe how your changes in interest rates impacted inflation and other key macroeconomic indicators used in the simulation. Refer to the “Inflation Rate” graph from your simulation results.

https://forio.com/app/harvard/econland/index.html#results

Develop stakeholders’ (the ones you identified in assignment 4) communication plan outline (no more than 500 words) in a form of a Memo.

-Propose the main and alternative communication channels; Be specific and practical. 

-List minimum 1 policy (list the full name) besides HIPAA that might set restrictions or specific requirements for the communication channels chosen and engagement with the stakeholders; make sure to remember the policies affecting digital and nondigital technological channels.   

-Propose subordination communication points for at least 1 linked or affiliated stakeholder(for example, the Administrative officer to the Attorney General and vice versa or the Communication Coordinator to the news program and news program director);

-List 2 ethical considerations influencing the communication with this stakeholder. Be specific and applicable to this HC delivery managerial issues. Privacy is not a good choice as it is mandated and regulated. 

        Cite and reference the resources as appropriate. Follow the appropriate Memo format and English grammar rules.

  

1. Barry’s Steroids Company has $1,000 par value bonds outstanding at 14 percent interest. The bonds will mature in 30 years.
If the percent yield to maturity is 12 percent, what percent of the total bond value does the repayment of principal represent? Use Appendix B and Appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods. (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)

What is principle of a percentage of bond price?  

Refer to Table 10-1, which is based on bonds paying 10 percent interest for 20 years. Assume interest rates in the market (yield to maturity) decline from 9 percent to 8 percent.
 

a. What is the bond price at 9 percent?
 

b. What is the bond price at 8 percent?
 

c. What would be your percentage return on investment if you bought when rates were 9 percent and sold when rates were 8 percent? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)
 

Return on profit? % and loss/profit 

2 Tom Cruise Lines Inc. issued bonds five years ago at $1,000 per bond. These bonds had a 30-year life when issued and the annual interest payment was then 13 percent. This return was in line with the required returns by bondholders at that point as described below:
 

  

 

Real rate of return

3

%

 

Inflation premium

5

 

Risk premium

5

 

Total return

13

%

    

 3. Assume that five years later the inflation premium is only 3 percent and is appropriately reflected in the required return (or yield to maturity) of the bonds. The bonds have 25 years remaining until maturity.
 

Compute the new price of the bond. Use Appendix B and Appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods. (Do not round intermediate calculations. Round your final answer to 2 decimal places. Assume interest payments are annual.)
 

New price of the bond?

4. Katie Pairy Fruits Inc. has a $1,100, 12-year bond outstanding with a nominal yield of 16 percent (coupon equals 16% × $1,100 = $176 per year). Assume that the current market required interest rate on similar bonds is now only 12 percent. Use Appendix B and Appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods.    
 

a. Compute the current price of the bond. (Do not round intermediate calculations. Round your final answer to 2 decimal places. Assume interest payments are annual.)
 

b. Find the present value of 4 percent × $1,100 (or $44) for 12 years at 12 percent. The $44 is assumed to be an annual payment. Add this value to $1,100. (Do not round intermediate calculations. Round your final answer to 2 decimal places. Assume interest payments are annual.)
 

5. Lance Whittingham IV specializes in buying deep discount bonds. These represent bonds that are trading at well below par value. He has his eye on a bond issued by the Leisure Time Corporation. The $1,000 par value bond pays 6 percent annual interest and has 15 years remaining to maturity. The current yield to maturity on similar bonds is 11 percent.
 

a. What is the current price of the bonds? Use Appendix B and Appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods. (Do not round intermediate calculations. Round your final answer to 2 decimal places. Assume interest payments are annual.)
 

b. By what percent will the price of the bonds increase between now and maturity? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)
 

6. You are called in as a financial analyst to appraise the bonds of Olsen’s Clothing Stores. The $1,000 par value bonds have a quoted annual interest rate of 13 percent, which is paid semiannually. The yield to maturity on the bonds is 8 percent annual interest. There are 10 years to maturity. Use Appendix B and Appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods.
 

a. Compute the price of the bonds based on semiannual analysis. (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
 

b. With 5 years to maturity, if yield to maturity goes down substantially to 6 percent, what will be the new price of the bonds? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
 

7. BioScience Inc. will pay a common stock dividend of $5.20 at the end of the year (D1). The required return on common stock (Ke) is 14 percent. The firm has a constant growth rate (g) of 7 percent.
  Compute the current price of the stock (P0). (Do not round intermediate calculations. Round your answer to 2 decimal places.)
 

8. Ecology Labs Inc. will pay a dividend of $7.20 per share in the next 12 months (D1). The required rate of return (Ke) is 20 percent and the constant growth rate is 8 percent. (Each question is independent of the others.)
a. Compute the price of Ecology Labs’ common stock. (Do not round intermediate calculations. Round your answer to 2 decimal places.)
 

b. Assume Ke, the required rate of return, goes up to 25 percent. What will be the new price? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
 

c. Assume the growth rate (g) goes up to 11 percent. What will be the new price? Ke goes back to its original value of 20 percent. (Do not round intermediate calculations. Round your answer to 2 decimal places.)
d. Assume D1 is $7.90. What will be the new price? Assume Ke is at its original value of 20 percent and g goes back to its original value of 8 percent. (Do not round intermediate calculations. Round your answer to 2 decimal places.)
 

9. Justin Cement Company has had the following pattern of earnings per share over the last five years:    
 

  

Year

Earnings
  Per Share

 

20X1

$

13.00

 

20X2

13.78

 

20X3

14.61

 

20X4

15.49

 

20X5

16.42

    

The earnings per share have grown at a constant rate (on a rounded basis) and will continue to do so in the future. Dividends represent 40 percent of earnings.     
 

a. Project earnings and dividends for the next year (20X6). (Round the growth rate to the nearest whole percent. Do not round any other intermediate calculations. Round your answers to 2 decimal places.)
 

Earnings 20X16

dividends

 

b. If the required rate of return (Ke) is 13 percent, what is the anticipated stock price (P0) at the beginning of 20X6? (Round the growth rate to the nearest whole percent. Do not round any other intermediate calculations. Round your answer to 2 decimal places.)

10. Beasley Ball Bearings paid a $4 dividend last year. The dividend is expected to grow at a constant rate of 2 percent over the next four years. The required rate of return is 15 percent (this will also serve as the discount rate in this problem). Use Appendix B for an approximate answer but calculate your final answer using the formula and financial calculator methods.
 

a. Compute the anticipated value of the dividends for the next four years. (Do not round intermediate calculations. Round your final answers to 2 decimal places.)  

 

b. Calculate the present value of each of the anticipated dividends at a discount rate of 15 percent. (Do not round intermediate calculations. Round your final answers to 2 decimal places.)
 

 

c. Compute the price of the stock at the end of the fourth year (P4). (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
 

 

d. Calculate the present value of the year 4 stock price at a discount rate of 15 percent. (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
 

 

e. Compute the current value of the stock. (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
 

 

f. Use the formula given below to show that it will provide approximately the same answer as part e. (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
 

  

P0

=

 

D1

 

Ke − g

 

g. If current EPS were equal to $4.98 and the P/E ratio is 1.2 times higher than the industry average of 6, what would the stock price be? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
 

 

h. By what dollar amount is the stock price in part g different from the stock price in part f? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
 

 

i. With regard to the stock price in part f, indicate which direction it would move if:
 

11. Speedy Delivery Systems can buy a piece of equipment that is anticipated to provide an 5 percent return and can be financed at 2 percent with debt. Later in the year, the firm turns down an opportunity to buy a new machine that would yield a 12 percent return but would cost 20 percent to finance through common equity. Assume debt and common equity each represent 50 percent of the firm’s capital structure.
 

a. Compute the weighted average cost of capital. (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)
 

 b. Which project(s) should be accepted?
 

  

New machine

 

Piece of equipment

12. A brilliant young scientist is killed in a plane crash. It is anticipated that he could have earned $380,000 a year for the next 50 years. The attorney for the plaintiff’s estate argues that the lost income should be discounted back to the present at 6 percent. The lawyer for the defendant’s insurance company argues for a discount rate of 12 percent.

 What is the difference between the present value of the settlement at 6 percent and 12 percent? Compute each one separately. Use Appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods. (Do not round intermediate calculations. Round your answers to 2 decimal places.)
 

Pv at 6% rate

PV at 12% rate

Difference

13. The Goodsmith Charitable Foundation, which is tax-exempt, issued debt last year at 14 percent to help finance a new playground facility in Los Angeles. This year the cost of debt is 30 percent higher; that is, firms that paid 16 percent for debt last year will be paying 20.80 percent this year.

a. If the Goodsmith Charitable Foundation borrowed money this year, what would the aftertax cost of debt be, based on their cost last year and the 30 percent increase? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)
 

 

b. If the receipts of the foundation were found to be taxable by the IRS (at a rate of 20 percent because of involvement in political activities), what would the aftertax cost of debt be? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)
 

14. Airborne Airlines Inc. has a $1,000 par value bond outstanding with 30 years to maturity. The bond carries an annual interest payment of $110 and is currently selling for $850. Airborne is in a 25 percent tax bracket. The firm wishes to know what the aftertax cost of a new bond issue is likely to be. The yield to maturity on the new issue will be the same as the yield to maturity on the old issue because the risk and maturity date will be similar.

a. Compute the yield to maturity on the old issue and use this as the yield for the new issue. (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)
 

 

b. Make the appropriate tax adjustment to determine the aftertax cost of debt. (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)
 

15. Terrier Company is in a 45 percent tax bracket and has a bond outstanding that yields 11 percent to maturity.
 

a. What is Terrier’s aftertax cost of debt? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)
 

  

b. Assume that the yield on the bond goes down by 1 percentage point, and due to tax reform, the corporate tax rate falls to 30 percent. What is Terrier’s new aftertax cost of debt? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)
 

  

c. Has the aftertax cost of debt gone up or down from part a to part b?
 

  

It has gone up

 

It has gone down

16. Keyspan corp. is planning to issue debt that will mature in 2,035. In many respects, the issue is similar to the currently outstanding debt of the corporation. Use Table 11-3.
 

a. Calculate the yield to maturity on similarly outstanding debt for the firm, in terms of maturity. (Input your answer as a percent rounded to 2 decimal places.)
 

 

Assume that because the new debt wil be issued at par, the required yield to maturity will be .25 percent higher than the value determined in part a.

 b. What is the new yield to maturity? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)
 

 

c. If the firm is in a 35 percent tax bracket, what is the aftertax cost of debt for the yield determined in part b? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)
 

17. Wallace Container Company issued $100 par value preferred stock 10 years ago. The stock provided a 6 percent yield at the time of issue. The preferred stock is now selling for $78.

What is the current yield or cost of the preferred stock? (Disregard flotation costs.) (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)
 

18. The treasurer of Riley Coal Co. is asked to compute the cost of fixed income securities for her corporation. Even before making the calculations, she assumes the aftertax cost of debt is at least 2 percent less than that for preferred stock.
 

Debt can be issued at a yield of 13.6 percent, and the corporate tax rate is 25 percent. Preferred stock will be priced at $51 and pay a dividend of $5.80. The flotation cost on the preferred stock is $2.

 a. Compute the aftertax cost of debt. (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)
 

 

b. Compute the aftertax cost of preferred stock. (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)
 

 

c. Based on the facts given above, is the treasurer correct?
 

  

Yes, the treasurer   is correct.

 

No, the treasurer is   incorrect.

19. Compute Ke and Kn under the following circumstances:
 

a. D1 = $3.20, P0 = $62, g = 5%, F = $2.00. (Do not round intermediate calculations. Round your answers to 2 decimal places.)
 

 

b. D1 = $.10, P0 = $22, g = 5%, F = $2.00. (Do not round intermediate calculations. Round your answers to 2 decimal places.)
 

 

c. E1 (earnings at the end of period one) = $3, payout ratio equals 20 percent, P0 = $26, g = 2.0%, F = $2.00. (Do not round intermediate calculations. Round your answers to 2 decimal places.)
 

 

d. D0 (dividend at the beginning of the first period) = $2, growth rate for dividends and earnings (g) = 3%, P0 = $52, F = $2. (Do not round intermediate calculations. Round your answers to 2 decimal places.)
 

20. Global Technology’s capital structure is as follows:

  

 

Debt

35

%

 

Preferred stock

15

 

Common equity

50

       

 

The aftertax cost of debt is 6.50 percent; the cost of preferred stock is 10.50 percent; and the cost of common equity (in the form of retained earnings) is 13.50 percent.

Calculate the Global Technology’s weighted cost of each source of capital and the weighted average cost of capital. (Do not round intermediate calculations. Input your answers as a percent rounded to 2 decimal places.)
 

Debt:

Preferred stock:

Common equity:

Weighted average cost of capital:

21. Sauer Milk Inc. wants to determine the minimum cost of capital point for the firm. Assume it is considering the following financial plans:

  

Cost
  (aftertax)

Weights

 

Plan A

 

Debt

7.0

%

20

%

 

Preferred stock

14.0

10

 

Common equity

18.0

70

 

Plan B

 

Debt

7.5

%

30

%

 

Preferred stock

14.5

10

 

Common equity

19.0

60

 

Plan C

 

Debt

8.0

%

40

%

 

Preferred stock

14.7

10

 

Common equity

10.8

50

 

Plan D

 

Debt

10.0

%

50

%

 

Preferred stock

15.2

10

 

Common equity

12.5

40

       

 a-1. Compute the weighted average cost for four plans. (Do not round intermediate calculations. Input your answers as a percent rounded to 2 decimal places.)
 

plan a

plan b

plan c

plan d
 

a-2. Which of the four plans has the lowest weighted average cost of capital?
 

  

Plan A

 

Plan B

 

Plan C

 

Plan D

 b. What is the relationship between the various types of financing costs and the debt-to-equity ratio?
 

  

All types of financing   costs increase as the debt-to-equity ratio increases.

 

All types of financing   costs decrease as the debt-to-equity ratio increases.

 

22.A-Rod Manufacturing Company is trying to calculate its cost of capital for use in making a capital budgeting decision. Mr. Jeter, the vice-president of finance, has given you the following information and has asked you to compute the weighted average cost of capital.
 

The company currently has outstanding a bond with a 10.5 percent coupon rate and another bond with an 8.1 percent rate. The firm has been informed by its investment banker that bonds of equal risk and credit rating are now selling to yield 11.4 percent. The common stock has a price of $59 and an expected dividend (D1) of $1.79 per share. The historical growth pattern (g) for dividends is as follows:

  

$

1.34

 

1.48

 

1.63

 

1.79

 23.The preferred stock is selling at $79 per share and pays a dividend of $7.50 per share. The corporate tax rate is 30 percent. The flotation cost is 2.0 percent of the selling price for preferred stock. The optimal capital structure for the firm is 20 percent debt, 10 percent preferred stock, and 70 percent common equity in the form of retained earnings.

 a. Compute the historical growth rate. (Do not round intermediate calculations. Round your answer to the nearest whole percent and use this value as g. Input your answer as a whole percent.)

growth rate:

 

b. Compute the cost of capital for the individual components in the capital structure. (Use the rounded whole percent computed in part a for g. Do not round any other intermediate calculations. Input your answers as a percent rounded to 2 decimal places.)
 

debt:
preferred stock:

common equity:
 

c. Calculate the weighted cost of each source of capital and the weighted average cost of capital. (Do not round intermediate calculations. Input your answers as a percent rounded to 2 decimal places.)
 

debt:
preferred stock:

common equity:

weight average cost equity:

24. Northwest Utility Company faces increasing needs for capital. Fortunately, it has an Aa3 credit rating. The corporate tax rate is 30 percent. Northwest’s treasurer is trying to determine the corporation’s current weighted average cost of capital in order to assess the profitability of capital budgeting projects.
 

Historically, the corporation’s earnings and dividends per share have increased about 8.3 percent annually and this should continue in the future. Northwest’s common stock is selling at $80 per share, and the company will pay a $7.30 per share dividend (D1).
 

The company’s $128 preferred stock has been yielding 5 percent in the current market. Flotation costs for the company have been estimated by its investment banker to be $5.00 for preferred stock.

 The company’s optimal capital structure is 40 percent debt, 15 percent preferred stock, and 45 percent common equity in the form of retained earnings. Refer to the following table on bond issues for comparative yields on bonds of equal risk to Northwest.

  

Data on Bond Issues

 

Issue

Moody’s
  Rating

Price

Yield to Maturity

 

Utilities:

 

Southwest electric   power––7 1/4 2023

Aa2

$

975.18

8.34

%

 

Pacific bell––7 3/8   2025

Aa3

907.25

8.63

 

Pennsylvania power   & light––8 1/2 2022

A2

970.66

8.55

 

Industrials:

 

Johnson &   Johnson––6 3/4 2023

Aaa

870.24

8.66

%

 

Dillard’s Department   Stores––7 3/8 2023

A2

940.92

8.33

 

Marriott Corp.––10   2015

B2

1,115.10

9.55

       

a. Compute the cost of debt, Kd (use the accompanying table—relate to the utility bond credit rating for yield.) (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)
 

 

b. Compute the cost of preferred stock, Kp. (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)
 

 

c. Compute the cost of common equity in the form of retained earnings, Ke. (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)
 

 

d. Calculate the weighted cost of each source of capital and the weighted average cost of capital. (Do not round intermediate calculations. Input your answers as a percent rounded to 2 decimal places.)
debt:
preferred stock:

common equity:

weight average cost equity:

24. Delta Corporation has the following capital structure:

  

Cost
  (aftertax)

Weights

Weighted
  Cost

 

Debt (Kd)

8.5

%

20

%

1.70

%

 

Preferred stock (Kp)

7.2

10

0.72

 

Common equity (Ke)   (retained earnings)

7.5

70

5.25

 

Weighted average   cost of capital (Ka)

7.67

%

       

 a. If the firm has $42 million in retained earnings, at what size capital structure will the firm run out of retained earnings? (Enter your answer in millions of dollars (e.g., $10 million should be entered as “10”).)
 

 

b. The 8.5 percent cost of debt referred to earlier applies only to the first $14 million of debt. After that the cost of debt will go up. At what size capital structure will there be a change in the cost of debt? (Enter your answer in millions of dollars (e.g., $10 million should be entered as “10”).)
 

25. The Nolan Corporation finds it is necessary to determine its marginal cost of capital. Nolan’s current capital structure calls for 40 percent debt, 10 percent preferred stock, and 50 percent common equity. Initially, common equity will be in the form of retained earnings (Ke) and then new common stock (Kn). The costs of the various sources of financing are as follows: debt, 7.2 percent; preferred stock, 5 percent; retained earnings, 12 percent; and new common stock, 13.2 percent.

 a. What is the initial weighted average cost of capital? (Include debt, preferred stock, and common equity in the form of retained earnings, Ke.) (Do not round intermediate calculations. Input your answers as a percent rounded to 2 decimal places.)
 

debt:
preferred stock:

common equity:

weight average cost equity:

 

b. If the firm has $29 million in retained earnings, at what size capital structure will the firm run out of retained earnings? (Enter your answer in millions of dollars (e.g., $10 million should be entered as “10”).)
 

 

c. What will the marginal cost of capital be immediately after that point? (Equity will remain at 50 percent of the capital structure, but will all be in the form of new common stock, Kn.) (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)
 

 

d. The 7.2 percent cost of debt referred to earlier applies only to the first $44 million of debt. After that, the cost of debt will be 9.2 percent. At what size capital structure will there be a change in the cost of debt? (Enter your answer in millions of dollars (e.g., $10 million should be entered as “10”).)
 

 

e. What will the marginal cost of capital be immediately after that point? (Consider the facts in both parts c and d.) (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)
 

26. Eaton Electronic Company’s treasurer uses both the capital asset pricing model and the dividend valuation model to compute the cost of common equity (also referred to as the required rate of return for common equity).

 Assume:
 

  

 

Rf

=

6

%

 

Km

=

8

%

 

β

=

1.5

 

D1

=

$

.75

 

P0

=

$

19

 

g

=

4

%

       

a. Compute Ki (required rate of return on common equity based on the capital asset pricing model). (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)
 

 

b. Compute Ke (required rate of return on common equity based on the dividend valuation model). (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)
 

  

Study the Week 3 Virtual Company Tours.

Answer the following questions in short answer or list format. Each answer must be at least 300 words.

• Why      is forecasting important to the Legoland® California Resort?
• What      are the forecasting techniques that Legoland® might find helpful when      forecasting and why?
• What      events might occur that could produce a significant error in      Legoland’s® forecast on any particular day?
• Based      on your assessment of all of the rides, attractions, and restaurants,      provide a rough estimate for the number of guests that the park can      accommodate at any given time. Then provide a rough estimate of the number      of employees needed in the park on a busy day. How many employees would be      needed on a day with light attendance?

Format any resources used consistent with APA guidelines.

Click the Assignment Files tab to submit your assignment.

  

Nuclear Chemistry Worksheet

222   4

1. 86Rn ———> ________ + 2He

234  4

2. ______ ———> 90Th + 2He

 

230   226

3. 90Th ———> 88Ra + ______

 

214  0

4. 82Pb ———> ______+ -1e

 

234   234

5. 92U ———> 93Np + _______

 

6. Write a balanced nuclear equation for the Beta decay of:

a. Nitrogen-16

b. Potassium-40

 

7. Write a balanced nuclear equation for the Alpha decay of:

a. Plutonium-244

b. Strontium-90

 

8. Write the balanced nuclear equations for the Beta, Alpha, and Gamma

decay of Radium-226.

 

9. How are the mass number and atomic number of the nucleus affected by

the loss of the following?

a. beta particle

b. alpha particle

c. gamma particle