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Published by HSRC Press
Private Bag X9182, Cape Town, 8000, South Africa
www.hsrcpress.ac.za
First published 2009
ISBN (soft cover) 978-0-7969-2293-9
ISBN (pdf) 978-0-7969-2294-6
ISBN (e-pub) 978-0-7969-2299-1
© 2009 Human Sciences Research Council
Copy-edited by Lisa Compton
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Series preface v
Project preface vii
Acknowledgements ix
Executive summary xi
Acronyms and abbreviations xv
1 Introduction 1
2 Conceptualissues
3
3 Dynamicsofteachersupplyanddemand:
Research,policyandpractice,1994—1999
9
4 Dynamicsofteachersupplyanddemand:
Research,policyandpractice,1999—2004
17
5 Dynamicsofteachersupplyanddemand:
Research,policyandpractice,2004—2008
23
6 Conclusion
33
References
37
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v
The Teacher Education in South Africa series is produced as part of the Teacher
Education Programme (TEP), funded by the Embassy of the Kingdom of the Netherlands
from 2005 to 2008.
The programme took place at a critical juncture in the development of teacher education
in post-apartheid South Africa. Since 2004, sustained attention has been given to the
improvement of teacher education consequent on the revision of the curriculum and
the restructuring of higher education. In October 2004, the Council on Higher Education
(CHE) initiated a review of teacher education programmes. On 26 April 2007, a National
Policy Framework for Teacher Education and Development was gazetted. This provided
the basis for a new system of teacher education and development for a new generation of
South African teachers.
The TEP emerged within this overall context of enhanced attention being given
to the improvement of teacher education. Its overall goal was ‘to contribute to the
knowledge and information base for policy formulation and implementation regarding
the organisation and practice of teacher education, with a particular emphasis on
initial teacher education (both pre-service and upgrading), as well as the professional
development of school leaders and managers’ (CEA, CEPD, EFT, HSRC & SAIDE
2005). The work was organised under four major themes: teacher supply and demand;
institutional culture and governance; the development of education management; and
literacy and teacher development.
The programme was designed by a consortium of agencies with considerable expertise
and experience in the field: the Centre for Education Policy Development (CEPD); the
Human Sciences Research Council (HSRC); the South African Institute for Distance
Education (SAIDE); the Centre for Evaluation and Assessment (CEA) at the University
of Pretoria; and the Education Foundation Trust (EFT).
1
The TEP was developed in
consultation with stakeholders such as the national Department of Education, the
Ministerial Working Group on Teacher Education, the Deans’ Forum and the Council
on Higher Education/Higher Price Elasticity of Demand and Price Elasticity of Supply Price Elasticity of Demand and Price Elasticity of Supply By: OpenStaxCollege Both the demand and supply curve show the relationship between price and the number of units demanded or supplied Price elasticity is the ratio between the percentage change in the quantity demanded (Qd) or supplied (Qs) and the corresponding percent change in price The price elasticity of demand is the percentage change in the quantity demanded of a good or service divided by the percentage change in the price The price elasticity of supply is the percentage change in quantity supplied divided by the percentage change in price Elasticities can be usefully divided into three broad categories: elastic, inelastic, and unitary An elastic demand or elastic supply is one in which the elasticity is greater than one, indicating a high responsiveness to changes in price Elasticities that are less than one indicate low responsiveness to price changes and correspond to inelastic demand or inelastic supply Unitary elasticities indicate proportional responsiveness of either demand or supply, as summarized in [link] Elastic, Inelastic, and Unitary: Three Cases of Elasticity If Then And It Is Called % change in quantity > % change in price % change in quantity % change in price > Elastic % change in quantity = % change in price % change in quantity % change in price = Unitary % change in quantity < % change in price % change in quantity % change in price < Inelastic Before we get into the nitty gritty of elasticity, enjoy this article on elasticity and ticket prices at the Super Bowl 1/12 Price Elasticity of Demand and Price Elasticity of Supply To calculate elasticity, instead of using simple percentage changes in quantity and price, economists use the average percent change in both quantity and price This is called the Midpoint Method for Elasticity, and is represented in the following equations: % change in quantity = % change in price = Q2 – Q1 (Q2 + Q1) ÷ P2 – P1 (P2 + P1) ÷ × 100 × 100 The advantage of the is Midpoint Method is that one obtains the same elasticity between two price points whether there is a price increase or decrease This is because the formula uses the same base for both cases Calculating Price Elasticity of Demand Let’s calculate the elasticity between points A and B and between points G and H shown in [link] 2/12 Price Elasticity of Demand and Price Elasticity of Supply Calculating the Price Elasticity of Demand The price elasticity of demand is calculated as the percentage change in quantity divided by the percentage change in price First, apply the formula to calculate the elasticity as price decreases from $70 at point B to $60 at point A: % change in quantity % change in price Price Elasticity of Demand 3,000 – 2,800 = (3,000 + 2,800) ÷ = 200 2,900 = 6.9 = (60 + 70) ÷ = –10 65 = –15.4 = 6.9% –15.4% = 0.45 × 100 × 100 60 – 70 × 100 × 100 6.9% Therefore, the elasticity of demand between these two points is –15.4% which is 0.45, an amount smaller than one, showing that the demand is inelastic in this interval Price elasticities of demand are always negative since price and quantity demanded always move in opposite directions (on the demand curve) By convention, we always talk 3/12 Price Elasticity of Demand and Price Elasticity of Supply about elasticities as positive numbers So mathematically, we take the absolute value of the result We will ignore this detail from now on, while remembering to interpret elasticities as positive numbers This means that, along the demand curve between point B and A, if the price changes by 1%, the quantity demanded will change by 0.45% A change in the price will result in a smaller percentage change in the quantity demanded For example, a 10% increase in the price will result in only a 4.5% decrease in quantity demanded A 10% decrease in the price will result in only a 4.5% increase in the quantity demanded Price elasticities of demand are negative numbers indicating that the demand curve is downward sloping, but are read as absolute values The following Work It Out feature will walk you through calculating the price elasticity of demand Finding the Price Elasticity of Demand Calculate the price elasticity of demand using the data in [link] for an increase in price from G to H Has the elasticity increased or decreased? Step We know that: Price Elasticity of Demand % change in quantity % change in price = Step From the Midpoint Formula we know that: % change in quantity = % change in price = Q2 – Q1 × 100 (Q2 + Q1 ) / P2 – P1 (P2 + P1 ) / × 100 Step So we can use the values provided in the figure in each equation: % change in quantity % change in price 1,600 – 1,800 = (1,600 + 1,800 ) / = –200 1,700 = –11.76 = (130 + 120 ) / = 10 125 = 8.0 × 100 × 100 130 – 120 × 100 × 100 4/12 Price Elasticity of Demand and Price Elasticity of Supply Step Then, those values can be used to determine the price elasticity of demand: Price ...
DEMAND AND CHALLENGES
OF ACCESSING SAVING PRODUCTS
IN TAJIKISTAN MICROFINANCE INSTITUTIONS
BY
JACQUELINE STENGA
SUPERVISOR: DR. MAREK HUDON
A Master Thesis
Submitted in Partial Fulfillment of the Requirements
For the European Master in Microfinance - European Microfinance Program Solvay
Brussels School of Economics and Management
Universite Libre de Bruxelles- Belgium
September, 2010
i
ABSTRACT
The main objective of the case study was to describe how savings products are offered
by MFIs in Tajikistan. The study specifically addresses the following issues; first, types
of savings products offered by MFIs in Tajikistan. Second, what factors which supports
or constraints poor households (or micro and small entrepreneurs) to access/ enjoy
savings services from MFIs in Tajikistan. Third, the study tried to identify challenges
facing MFIs when offering savings products.
This study involved the use of three research instruments during collection of data, that
is, questionnaires, interviews, and focus group discussions. Respondents were drawn
from the clientele base of various MFIs in Tajikistan and representative of five MFIs.
Questionnaires were employed to collect data from eighty (80) respondents, and Focus
Group Discussions involved sixty four (64) respondents, whilst interviews was
conducted only to five representative of MFIs in Tajikistan. Questionnaires and FGDs
supplemented each other by providing data from demand side (customers) while
interviews to representatives of MFIs provide data from supply side (service providers).
Findings reveal that common types of savings products in Tajikistan are term deposits,
classic deposits, and special deposits (children deposits). These products are offered in
local currency as well as in foreign currency. Study observed that there is tendency of
keeping their deposits in foreign currency in Tajikistan. Findings also affirmed that
demand for voluntary savings among the poor households is there in Tajikistan,
compulsory savings is not considered as savings product because it is part of the
requirements to access loans to MFIs.
This study also find that household income, proximity to financial institution, transaction
costs, returns, security, level of education, nature of employment, household social
intervention, and flexible product features are key factors from the perspective of MFIs’
client. From the service provider perspective, this study noted that competition from
experienced banks in savings products, nature of microfinance transactions (small but
voluminous), and management of such transactions as key challenges.
ii
ACKNOWLEDGEMENT
I feel indebted to all people who have extended help and assistance to me in the
preparation of this thesis. I acknowledge that without their help this thesis would not
have been completed. Although I cannot mention all of them by name the following
people need special attributes.
First and foremost, I am very pleased to acknowledge the patience, encouragement,
moral and material support which I received from my husband, Mr. Phillip Kirenga and
my sons Colin and Ibrahim, indeed they have sacrificed to me a very meaningful time
that has enabled me to come this far. Equally I feel obliged to extend my sincerely
gratitude to my parents, Evelinus and Hellen Stenga.
Second my special thanks should go to my supervisor Dr Marek Hudon, of the Free © 2003 McGraw-Hill Ryerson Limited
Chapter 8
Chapter 8
© 2003 McGraw-Hill Ryerson Limited.
8 - 2
◆
Economists have an answer to the
question of why people behave as they
do — self interest.
●
Economists' analysis of individual
choice does not deny individual
dierences.
© 2003 McGraw-Hill Ryerson Limited.
8 - 3
◆
A good beginning in understanding
individual choice is to focus on the
rational part of people's behavior.
© 2003 McGraw-Hill Ryerson Limited.
8 - 4
◆
Using the simple concept of self-
interest, two things determine what
people do:
●
The pleasure people get from doing
or consuming something.
●
The price of doing or consuming that
something.
© 2003 McGraw-Hill Ryerson Limited.
8 - 5
◆
Price is the market's tool to bring quantity
supplied equal to the quantity demanded.
◆
Changes in price provide incentives for
people to change what they are doing.
© 2003 McGraw-Hill Ryerson Limited.
8 - 6
◆
Economists start with a proposition that
individuals try to get as much pleasure
as possible out of life.
◆
The goods and services we consume
provide value (satisfaction) to us.
© 2003 McGraw-Hill Ryerson Limited.
8 - 7
◆
Individuals want to maximize the
amount of satisfaction they receive
through consuming goods and services.
© 2003 McGraw-Hill Ryerson Limited.
8 - 8
◆
Economists use the concept of utility—
the pleasure or satisfaction that one
gets from consuming a good or service.
◆
A util is a unit created by economists to
“measure” utility.
© 2003 McGraw-Hill Ryerson Limited.
8 - 9
◆
Utility serves as the basis of
economists' analysis of individual
choice.
◆
It is personal and individual.
◆
Utility cannot be compared across
individuals.
© 2003 McGraw-Hill Ryerson Limited.
8 - 10
◆
Total utility refers to the total
satisfaction one gets from consuming a
product.
[...]... leads to the law of demand q When the price of a good goes up, the marginal utility per dollar from that good goes down and we demand less of it © 2003 McGraw-Hill Ryerson Limited 8 - 36 Rational Choice and the Law of Demand Initially MUx/Px = MUy/Py x When the price of good y goes up, then MUx/Px > MUy/Py x Our condition for maximizing utility is no longer satisfied x So when the price of a good... that the opportunity cost of not consuming good x is greater than the opportunity cost of not consuming good y So we consume x © 2003 McGraw-Hill Ryerson Limited 8 - 34 Opportunity Cost x When all the marginal utilities per dollar spent are equal, the opportunity cost of all the alternatives are equal © 2003 McGraw-Hill Ryerson Limited 8 - 35 Rational Choice This Provisional PDF corresponds to the article as it appeared upon acceptance. Fully formatted PDF and full text (HTML) versions will be made available soon. Impact of changes in diet on the availability of land, energy demand and greenhouse gas emissions of agriculture Energy, Sustainability and Society 2011, 1:6 doi:10.1186/2192-0567-1-6 Karin Fazeni (fazeni@energieinstitut-linz.at) Horst Steinmueller (steinmueller@energieinstitut-linz.at) ISSN 2192-0567 Article type Original Submission date 10 November 2011 Acceptance date 9 December 2011 Publication date 9 December 2011 Article URL http://www.energsustainsoc.com/content/1/1/6 This peer-reviewed article was published immediately upon acceptance. It can be downloaded, printed and distributed freely for any purposes (see copyright notice below). For information about publishing your research in Energy, Sustainability and Society go to http://www.energsustainsoc.com/authors/instructions/ For information about other SpringerOpen publications go to http://www.springeropen.com Energy, Sustainability and Society © 2011 Fazeni and Steinmueller ; licensee Springer. This is an open access article distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/2.0), which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. 1 Impact of changes in diet on the availability of land, energy demand, and greenhouse gas emissions of agriculture Karin Fazeni* 1 and Horst Steinmüller 1 1 Energy Institute at the Johannes Kepler University (JKU Linz), Altenbergerstrasse, 69, Linz, 4040, Austria ∗Corresponding author: fazeni@energieinstitut-linz.at Email addresses: KF: fazeni@energieinstitut-linz.at HS: steinmueller@energieinstitut-linz.at 2 Abstract Background: Recent scientific investigations have revealed a correlation between nutrition habits and the environmental impacts of agriculture. So, it is obviously worthwhile to study what effects a change in diet has on land use patterns, energy demand, and greenhouse gas emissions of agricultural production. This study calculates the amount of energy and emission savings as well as changes in land use that would result from different scenarios underlying a change in diet. Methods: Based on the healthy eating recommendations of the German Nutrition Society, meat consumption in Austria should decrease by about 60%, and consumption of fruits and vegetables has to increase strongly. Results: This investigation showed that compliance with healthy eating guidelines leads to lower energy demand and a decrease in greenhouse gas emissions, largely due to a decrease in livestock numbers. Furthermore, arable land and grassland no longer needed for animal feed production becomes redundant and can possibly be used for the production of raw materials for renewable energy. The scenario examination shows that in the self-sufficiency scenario and in the import/export scenario, up to 443,100 ha and about 208,800 ha, respectively, of arable land and grassland are released for non-food uses. The cumulative energy demand of agriculture is lower by up to 38%, and the greenhouse This Provisional PDF corresponds to the article as it appeared upon acceptance. Fully formatted PDF and full text (HTML) versions will be made available soon. Impact of changes in diet on the availability of land, energy demand and greenhouse gas emissions of agriculture Energy, Sustainability and Society 2011, 1:6 doi:10.1186/2192-0567-1-6 Karin Fazeni (fazeni@energieinstitut-linz.at) Horst Steinmueller (steinmueller@energieinstitut-linz.at) ISSN 2192-0567 Article type Original Submission date 10 November 2011 Acceptance date 9 December 2011 Publication date 9 December 2011 Article URL http://www.energsustainsoc.com/content/1/1/6 This peer-reviewed article was published immediately upon acceptance. It can be downloaded, printed and distributed freely for any purposes (see copyright notice below). For information about publishing your research in Energy, Sustainability and Society go to http://www.energsustainsoc.com/authors/instructions/ For information about other SpringerOpen publications go to http://www.springeropen.com Energy, Sustainability and Society © 2011 Fazeni and Steinmueller ; licensee Springer. This is an open access article distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/2.0), which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. 1 Impact of changes in diet on the availability of land, energy demand, and greenhouse gas emissions of agriculture Karin Fazeni* 1 and Horst Steinmüller 1 1 Energy Institute at the Johannes Kepler University (JKU Linz), Altenbergerstrasse, 69, Linz, 4040, Austria ∗Corresponding author: fazeni@energieinstitut-linz.at Email addresses: KF: fazeni@energieinstitut-linz.at HS: steinmueller@energieinstitut-linz.at 2 Abstract Background: Recent scientific investigations have revealed a correlation between nutrition habits and the environmental impacts of agriculture. So, it is obviously worthwhile to study what effects a change in diet has on land use patterns, energy demand, and greenhouse gas emissions of agricultural production. This study calculates the amount of energy and emission savings as well as changes in land use that would result from different scenarios underlying a change in diet. Methods: Based on the healthy eating recommendations of the German Nutrition Society, meat consumption in Austria should decrease by about 60%, and consumption of fruits and vegetables has to increase strongly. Results: This investigation showed that compliance with healthy eating guidelines leads to lower energy demand and a decrease in greenhouse gas emissions, largely due to a decrease in livestock numbers. Furthermore, arable land and grassland no longer needed for animal feed production becomes redundant and can possibly be used for the production of raw materials for renewable energy. The scenario examination shows that in the self-sufficiency scenario and in the import/export scenario, up to 443,100 ha and about 208,800 ha, respectively, of arable land and grassland are released for non-food uses. The cumulative energy demand of agriculture is lower by up to 38%, and the greenhouse ... Calculating Price Elasticity of Demand Let’s calculate the elasticity between points A and B and between points G and H shown in [link] 2/12 Price Elasticity of Demand and Price Elasticity of Supply. .. 11/12 Price Elasticity of Demand and Price Elasticity of Supply The equation for a supply curve is 4P = Q What is the elasticity of supply as price rises from to 4? What is the elasticity of supply. .. the price elasticity of demand: Price Elasticity of Demand = % change in quantity % change in price = –11.76 = 1.47 Therefore, the elasticity of demand from G to H 1.47 The magnitude of the elasticity
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