Critically explain the role and objectives of the main participants in the derivatives market. Provide examples to illustrate and support your answer.

The assignment is an assessed piece of work that is to be completed individually. It accounts for 100% of the total marks available for this module.

Each student is required to submit a Word file document containing their answer AND the accompanying Excel spreadsheet file containing the relevant quantitative analysis. The Excel file must be presented fully explained so the reader can readily understand the structure of the calculations. The analytical methods used in the analysis must also be fully explained in the Word file.

INSTRUCTIONS ASSESSMENT AND FEEDBACK
The assignment is composed of three separate sections:
Task 1
Critically explain the role and objectives of the main participants in the derivatives market. Provide examples to illustrate and support your answer.

Task 2
The task is to collect daily adjusted closing prices for the last five years (the closing prices of Dec 2021 must be included) for 12 companies of choice, making sure that the period fully covers five years. Data need to be collected from official sources either provided by the University (Bloomberg, DataStream) or web-based (Yahoo Finance). In addition to stock prices, each student is required to collect adjusted daily closing prices for the S&P500 index. The list of stocks will form a portfolio and each student can freely choose the weighting of each stock in the portfolio, except equal weighting. The report should include the following:
1. Relevant descriptive statistics of the data set for the 12 equities and the market index (10% of mark).
2. An estimation of the 1-day VaR at 95% and 99% confidence levels for the portfolio with the chosen weights (5% of mark).
3. The 5-days VaR at 95% and 99% confidence levels for the portfolio with the chosen weights (5% of mark).
4. The estimation of expected shortfall (CVaR) for both VaRs in 2 and 3 (10% of mark).

The VaR estimation must be performed using both the variance-covariance method as well as the historical simulation method. Where suitable, students may include graphs to support their argument. Students are required to fully explain the procedure and estimation methods, using references from the academic literature and regulation, rather than textbooks.
Task 3 (50% of the mark |1000 words)
The task is to numerically value 2 options, one call and one put (European or American) on one of the stocks selected in part 1 by using the binomial lattice framework and comparing the result with the Black-Scholes option valuation method.

Guidelines:
1. The options to be valued and the underlying asset is to be selected according to the student’s choice.
2. The two options, one call and one put must have the same strike price and maturity and the maturity must be at least 6 months.
3. Both results obtained using the binomial lattice (15% of the mark) and the Black-Scholes formula (10% of the mark) have to be compared with the market price (5% of the mark).
4. Put-call parity relationship needs to be shown (10% of the mark).
5. The lattice should have at least 200 steps.
Sensitivity analysis should be performed

critically evaluate the role of social-purpose organisations (whether private for-profit businesses or hybrid models) in mitigating a specific global challenge of your choice, in a geographical setting of your choice.

Assignment:

The Management, Governance and Society module has examined the contribution of business firms and hybrid organisational models to a variety of complex social issues. To understand global challenges, the module has referred to the United National Sustainable Development Framework, which highlights 17 Sustainable Development Goals to be globally achieved between 2015 and 2030. Such global goals are equally relevant to all regions in the world, however the actions through which governments, organizations and citizens in specific areas aim to pursue these global objectives will vary depending on the characteristics of the local socio-economic and socio-political environment.

Aim of this assignment is to critically evaluate the role of social-purpose organisations (whether private for-profit businesses or hybrid models) in mitigating a specific global challenge of your choice, in a geographical setting of your choice.

As a first step, you should:

– Select 1 or 2 SDGs. Should you choose more than 1 SDG, they should be clearly interlinked to allow for an integrated discussion;

– Select 1 geographical region of your preference (a country, or a region within a country).

In your essay, you should:

– Develop an analysis of the current situation and historical evolution of the region over the past two decades, with respect to the chosen SDG area (ca. 500 words);

– Examine the role of national and international policies to foster improvement in the selected area(s). At least 2 policy interventions (one national, one international) should be described and critically analysed, by highlighting their advantages and disadvantages (ca. 700 words);

– Examine the role of social-purpose organisations in addressing the identified problems in the selected area(s). At least 2 organisations of different kind (e.g. one social enterprise and one public-private partnership or one business firm and one multi-stakeholder partnership) should be described and critically analysed, by highlighting the advantages and disadvantages of their strategies (ca. 1000 words);

Formulate recommendations for policy and practice, by considering the interdependences between the chosen policies, the social-purpose organisations, and the regulatory, socio-cultural and socio-economic environment

Write a fully referenced research project report based upon the proposal you submitted and incorporate the assignment work that you completed earlier in the semester.

Learning outcomes

LO1 Identify a specific industry problem and to select appropriate research methodology in order to report upon the research topic.
LO2 Demonstrate the ability to obtain and analyse data from primary and secondary sources; to critically evaluate contemporary research, concepts, arguments, assumptions and opinion; and to make reasoned judgements.
LO3 Conduct an applied research project effectively, deploying techniques of analysis and enquiry; project, time and problem management; theory, specialist knowledge, skills and experience.
LO4 Demonstrate the ability to reflect constructively and critically on the activities undertaken, specialist knowledge and the role of the professional in communicating information, ideas, problems and solutions to specialists and non-specialists.

Task
Write a fully referenced research project report based upon the proposal you submitted and incorporate the assignment work that you completed earlier in the semester.
The research project report represents 75% of the module mark. Before preparing your report, it is assumed you will have read fully the project guidance notes and associated directed reading and have completed appropriate primary and secondary research.
Submission note: Following submission of your first assignment for this module, you will have until Week 40 to complete research on, and write up a report for, the project title you have selected.
Your research project report is expected to:
• provide a clear indication of the purpose and importance of your research and how you conducted your investigation;
• involve analysis as well as a description, demonstrating your ability to construct, explain and justify your own perspective on the issues;
• organise and present facts and data clearly, and offer coherent arguments built from them;
• relate facts and data to theory and practice discussed in the course;
• summarise concisely all the main points you discuss, offering any insights,
recommendations or conclusions;
• recognise gaps and deficiencies in the research, indicating where further work is required;
• be written in a professional style, making appropriate use of English, with correct grammar, spelling, paragraphing and referencing;
• submitted in accordance with the ‘Guidance and submission notes for Assessment 2’ set out below.
Your report should include the following items:
• Title page
• Abstract
• Declaration
• Table of contents
© University College of Estate Management 2021 Page 3 of 8
• List of tables, figures and other materials
• Acknowledgements
• Main body of text
• Word count (refer section 2.2, below)
• References and bibliography
• Appendices

Calculate the descriptive statistics of the US Effective Federal Funds Rates. Based on the results you obtained, discuss the information about the mean, standard deviation, skewness, kurtosis, median and first and third quartiles of the time series.

Quantitative Method and Economics
Coursework Assignment
The coursework requires you to use the methods you have learnt to analyse the data in the
Excel file coursework data.csv. The data set contains information on the Crude oil prices, Dow Jones Industrial Average, US CCI (Consumer Confidence Index) and US Effective Federal Funds Rate, during the period between January 2009 and December 2018.
(1) Use the information that can be obtained from the time series plot and acf plot of the data to discuss the stationarity of each time series in the data set. Please also include the graphs you obtained as part of your answer to the question.

(2) Calculate the descriptive statistics of the US Effective Federal Funds Rates. Based on the results you obtained, discuss the information about the mean, standard deviation, skewness, kurtosis, median and first and third quartiles of the time series. Please also include a table containing the results you obtained as part of your answer to the question.

(3) Use all time series given in the data set and the relevant results you obtained in the above two questions to estimate a linear regression model and show the details of your analysis.
Please include the following in your answer to this question: your research question, a brief explanation of why you can use a linear regression model to answer your research question, a table containing the estimation results you obtained, and the detailed work of your analysis

How should George respond to this proposal?

Use the Instructions for Case Analyses to craft a response to this case, articulating the main issues and ethical dilemma. Review the assessment criteria below before you begin writing.

Case Study: The Pizza Puzzle
Topic: Deceptive Advertising
Involved Parties:
George Hansen, General Manager of Augusta Marigold Inn, a Subsidiary of Hospitality Enterprises
Sharon Coombs, Food Services Manager, Augusta Marigold Inn
George Hansen is General Manager for the Marigold Inn in Augusta, Georgia. Sharon Coombs is Restaurant and Food Services Manager for the Inn. She reports to George. Two years ago, Sharon noticed a decline in room service business, the highest margin portion of her operation. This decline
coincided with an increase in the national sales of pizza delivery and carryout firms as well as an increase in the number of empty pizza boxes from these firms being left in guest rooms in the Inn. Her immediate response was to install a pizza oven in the kitchen and offer room service pizza to guests.
The effort met with modest success, though it was well below her expectations. Questionnaires completed by departing guests revealed a problem of product quality.
Focusing on this problem, Sharon improved the Inn’s pizza until blind taste tests judged it at least equal in quality to the products of the two major pizza delivery competitors in Augusta. Sales did not improve, convincing Sharon that the problem was a perceived mismatch between the hotel’s image and guests’
expectations of pizza makers. Guests simply did not seem to believe that the traditional steak and seafood restaurant at the Inn could make a high-quality, authentic pizza. Based on this conclusion, Sharon presented the following proposal to George:
Sales of room service pizza are stagnant due to guests’ misperception that our product is lower inquality than that of competitors. This misperception is based on the belief that until we disassociate our pizza from the Marigold Inn name. Therefore, to capture more room service pizza business, we should
create a ‘Napoli Pizza’ image for our guest room delivery service by:
Preparing ‘Napoli Pizza’ brochures for each guest room, complete with a phone number with a prefix different from that of Marigold Inn.
The number will reach a special phone in room service, which will be answered, “Napoli Pizza,
authentic Italian pizza from old, family recipes.”
Using special ‘Napoli Pizza’ boxes for delivering room service pizza to guests.
Issuing ‘Napoli Pizza’ hats and jackets to room service personnel for use in pizza delivery. Room service waiters and waitresses will wear these garments to deliver pizza. They will change to their regular uniforms for other deliveries.
How should George respond to this proposal?
Case analsysis Instructions:
Use these guidelines along with the stated assessment criteria to craft your case analyses.
Relevant Facts –
(A) Overview of pertinent points.
(B) Describe the background of the situation or business that is relevant to the ethical problem(s) or dilemma(s) of the Case.
(C) Highlight information that sets the context for analysis.
Ethical Issues –
(A) State the ethical problem(s) or dilemma(s)
(B) Demonstrate a comprehension of ethical concepts.
(C) Describe the ethical aspects of the Case.
Identifying Stakeholders –
There are always a set of “usual suspects” in a Case, so be sure to list everyone who might be connected. Remember that business decisions have far reaching effects, so consider anyone who might be affected by the ethical considerations of the Case.
Possible Alternatives –
(A) Identify solutions can be described for each ethical issue identified.
(B) List all solutions and approaches to identified ethical issues.
(C) Alternatives may be drawn from the Case, Readings, or personal experience including
outside readings
Ethics of the Alternatives –
(A) Critically assess the alternatives identified for possible recommendation.
(B) Describe the ethical implications of each alternative.
(C) Consider external and internal aspects of ethical proposals.
(D) Apply the “utilitarian” perspective (costs and benefits).
1. Which of the alternatives would provide the greatest benefit to the greatest number?
2. What are the costs in each of the alternatives?
3. Which of the alternatives has the highest “cost” factor associated with it?
4. Do the benefits of honesty at all costs outweigh the benefits of obeying the directive?
of a supervisor?
(E) Apply the “rights” perspective.
1. What does the stakeholder have the right to expect?
2. Which of the alternatives would you want if you were each of the stakeholders?
(F) Apply the “justice” perspective (benefits and burdens).
1. Which alternative distributes the benefits and burdens most fairly among the
stakeholders?
2. Which stakeholders are most affected by each alternative?
Practical Constraints –
(A) Possible obstacles to the implementation of the identified alternatives.
(B) Ethical problems that may come up in executing each alternative.
(C) What unwanted outcomes may result from each alternative?
(D) What aspects of the market might obstruct each alternative?
Specific Action –
(A) Make a recommendation
(B) Analysis should provide context for whatever is recommended.
(C) Support recommendations with the readings or other literature.

Do you think this new approach for manufacturing is driving a change of the quality strategy of the company?

Toyota started in the late 1940’s creating the pillars of what later would be the Toyota Production System (TPS) or has become known globally as Lean Manufacturing System. This approach has been widely implemented in many industries driving profound changes within the operations context.
Recently, Toyota has announced some details about the TPS development that is intended to revolutionize manufacturing systems – Toyota New Global Architecture (TGNA).
https://mag.toyota.co.uk/tnga‑explained‑engineering‑for‑the‑future/

Read the article “TNGA explained: engineering for the future” and answer the following questions:

Do you think this system is indeed revolutionary? Why or Why not?

Do you think this new approach for manufacturing is driving a change of the quality strategy of the company?
If that is the case, what do you think are the key changes?

N.A. (2015). TNGA explained: engineering for the future. Official Blog of Toyota GB. Retrieved from: http://blog.toyota.co.uk/tnga‑explained‑engineering‑for‑the‑future

Why is the public health of children and youth an important field of study?

Childhood and adolescence

In this course you have studied childhood and adolescence and how their health is impacted by social causes.
How have you grown this semester?
Why is the public health of children and youth an important field of study? Justify your answer using literature, data, and web links provided in this course. Remember to support your answer with details and ‘show what you learned’ using scholarly material and research.

Briefly, discuss the findings in a study conducted by Donner, Fridell, and Jennings (2016) pertaining to the relationship between self-control and police misconduct

Police Misconduct

Briefly, discuss the findings in a study conducted by Donner, Fridell, and Jennings (2016) pertaining to the relationship between self-control and police misconduct.
In doing so, discuss Gottfredson and Hirschi’s (1990) general theory of crime as it is relative to self-control theory and police misconduct.

Note: The essay response given should reflect upper-level undergraduate writing in accordance with current APA standards. The essay response is to include in-text citation(s) in proper APA format. Intext citations are to correspond to a source in proper APA format listed after the essay response.

Analyze whether the organization meets any of the determinants of a psychologically healthy workplace.

The purpose of this paper is for you to apply your knowledge of I/O psychology to a real-life organization. More specifically, this project will give you the opportunity to examine the organizational practices of a specific company of your choice that makes it a “psychologically healthy workplace.”
Background Work
• Read the document Introduction: Building a Psychologically Healthy Workplace provided in this module to learn more about the determinants of a psychologically healthy workplace.
• Visit the below URLs to learn more about the PHWA and some companies that have won this award:
o https://www.apa.org/applied-psychology/phwa-2019-winners
o https://www.psychologists.bc.ca/content/psychologically-healthy-workplaceawards
o https://www.youtube.com/watch?v=2__qb0sOOac
• Identify a real-life organization you may analyze.
• Find a contact within the organization you have picked. This person cannot be yourself,
and must be someone in a management or human resources position (i.e., someone who clearly knows about the organization’s policies and practices). If you have been or an employee of this organization, you may include your own personal experiences in the paper, but this should not be the primary perspective (see bullet below).
• In addition to the management/HR contact, you must utilize at least one other source to gain information about the organization. This may include, but is not limited to: news articles, press releases, the organization’s employee handbook, an employee in the organization (this can be yourself), etc.
• Create a list of questions that you will ask your contact(s).
The Write-up
• Your paper should include five sections: 1) description of the organization; 2) discussion of organizational practices and policies as they pertain to each of the five psychologically healthy workplace criteria; 3) recommendations on how the organization may improve their practices and policies to be more psychologically healthy; 4) references; 5) appendix. Below are more details regarding each section:
1. Describe the organization you have chosen (e.g., name, location, approximate size, type of sector, etc.). Why did you choose this organization? Who was your contact and sources of information?
2. Analyze whether the organization meets any of the determinants of a
psychologically healthy workplace. You must include all five criteria in your
analysis. In describing the practices/policies of the organization, do not merely
include verbatim the responses of your contact person. Discuss what they shared with you in your own words, by incorporating into this section to describe the organization. Discuss whether the organization meets each criterion for being a psychologically healthy workplace. Be very specific about any practices that you include. For example, do not merely state that the organization provides opportunities for employee growth; instead, describe what it is that the organization does (e.g., provides employees tuition reimbursement). Your analysis of the organization should be based upon research (see #4 below).
3. Provide recommendations on how to make the organization more
psychologically healthy. Recommendations should be specific (i.e., a specific
organizational practice or program) and based upon research (see #4 below).
4. You must back up your analysis and recommendations with research from peerreviewed
journal articles. Each “healthy workplace” criterion must include at
least one reference; therefore, there must be a total minimum of five references included in your paper. The research articles must come from the research journals listed on p. 18 of the Aamodt textbook; those listed under Bridge Publications and Trade Magazines and the textbook may be used but will not count toward the five required references. Failure to include references will result in deduction of points. Use APA style for your reference section.
5. Appendix should include the name, position, and phone number or email
address of the person(s) whom you contacted for your paper. Remember, the
primary contact must be someone in management or human resources. I may
contact this individual to verify the information you have provided. Appendix
should also include the questions you created and used to ask your management/HR contact about the organization. Failure to include this will
result in zero points on this paper.

Discuss the companies’ management of human capital in the merger or acquisition.

For your final essay, you will be applying the concepts learned throughout this course to an analysis of a merger or an acquisition. Much of the information you will need to complete this analysis can be found in the company’s annual report. You may choose any recent merger or acquisition (within the last 5 years). Using the concepts from this course, you will analyze the success of the merger or acquisition.
The completed project should include the information listed below.
Provide an introduction to the companies involved in the merger or acquisition. Include the companies’ background information and the reasons for the merger.
Evaluate the financial statements of both companies (balance sheet, income statement, cash flow statement).
Evaluate the potential and actual risks that occurred during the merger and what the companies could have done differently to mitigate these risks.
Discuss the companies’ management of human capital in the merger or acquisition.
Evaluate the soundness of the company’s financial policies after the merger (e.g., capital structure, debt, leverage, dividend policy, enterprise risk management, and others.) based on the material covered during class.
Include a synopsis of your findings, including your recommendations and rationale for whether the merger or acquisition was beneficial to both companies and your recommendation on best practices for moving forward.
This analysis should be at least three pages in length, not counting the title and reference pages. Support your findings and recommendations with evidence from the annual report and at least five scholarly sources, such as the textbook, industry reports, and articles from the CSU Online Library. Use APA format to cite and reference all sources, including any websites that were used to access company information.