Grammar in the Classroom :: Teachers Education Language Essays

Grammar in the Classroom A large part of an English teacher’s job deals with helping students find their own voices amidst the many teachings of their parents and peers. A student’s voice can be their values, their interests, and their perspectives of the world in which they live. Their voice can be their critical questioning of the many situations they face, whether in a text, the school cafeteria, or a park after school. It is the job of an English teacher to aid in finding this voice through their writing. It is by putting words and thoughts down on paper that a student can sometimes feel comfortable enough to take risks and find their true voices. Although traditional grammar instruction has long been thought to improve this skill, this is no longer the case. Instead, by providing a classroom environment in which students are immersed in classic literature from many genres including poetry, short stories, and novels, students will learn how to harness grammar for their own purposes of findi ng their voice in their writing. Rather than teach grammar initially and hope that students connect their drilling exercises of subjects and verbs to the poem they’re working on, teaching the varieties of literature first allows students to gain first-hand experience and familiarity with grammar already in practice. This is not to say that grammar lessons and terminology should be lost altogether. A student will not be better off if they never learn subject-verb agreement. However, their exposure to examples of these uses should come first, leaving the labeling and grammar jargon to a time when their minds have already seen how these nouns and verbs can be used. That’s the key phrase: can be used. Students need to understand that they have control and authority over their work. They should have space enough to understand that although a sentence should be written in a certain way, it does not always have to be straightforward grammar if they’d like to change something stylistically. For example, while teaching a lesson on the poem "l(a" by E.E. Cummings, students might be confused and puzzled as to the form of this unusual piece. However, they should then be invited to challenge Cummings’s lack of traditional grammar and stylistic choices. Some may be angry at its unique appearance, while others may grasp the significance of the form and its effect on the reader.

Free Essays - First Impressions in Pride and Prejudice :: Pride Prejudice Essays

First Impressions in Pride and Prejudice Pride and Prejudice was first titled First Impressions, and these titles embody the themes of the novel. The narrative describes how the prejudices and first impressions (especially those dealing with pride) of the main characters change throughout the novel, focusing on those of Elizabeth Bennet. Elizabeth's judgments about other characters' dispositions are accurate about half of the time. While she is correct about Mr. Collins and how absurdly self-serving he is and about Lady Catherine de Bourgh and how proud and snobbish she is, her first impressions of Wickham and Darcy steer her incorrectly. Wickham is first thought to be a gentleman by all. His good looks and his easy manner fool almost everyone, and Elizabeth believes without question all that he tells her of Darcy. Elizabeth's first impressions of him are contradicted when she realizes that he has lied about Darcy. Elizabeth and many of the other characters see Darcy as proud, and it can be seen from this quote just how quickly this judgment of him is formed. "The gentlemen pronounced him to be a fine figure of a man, the ladies declared he was much handsomer than Mr. Bingley, and he was looked at with great admiration for about half the evening, till his manners gave a disgust which tuned the tide of his popularity; for he as discovered to be proud, to be above his company, and above being pleased; and not all his large estate in Derbyshire could then save him from having a most forbidding, disagreeable countenance, and being unworthy to be compared with his friend." It is not only what she believes to be pride in Darcy's character that makes her judge him harshly, but also her prejudice against him because of the lies Wickham has told her. Darcy sees this fault of prejudice in Elizabeth, stating that her defect is "willfully to misunderstand everybody." In the end Elizabeth realizes her folly in trusting her first impressions and prejudices about the men, and states, "how despicably have I acted... I, who have prided myself on my discernment! - I, who have valued myself on my abilities..." The above are only a few of the major examples of first impressions, prejudice and pride in the novel, as these themes show up throughout the story.

Imagery In Othello :: essays research papers

The function of imagery in the mid-sixteenth century play Othello by William Shakespeare is to aid characterisation and define meaning in the play. The antagonist Iago is defined through many different images, Some being the use of poison and soporifics, sleeping agents, to show his true evil and sadistic nature. Othello’s character is also shaped by much imagery such as the animalistic, black and white, and horse images which indicates his lustful, sexual nature. Characterisation of women is heavily dictated by imagery used to show the patriarchal gender system of the time. Some of this imagery is that of hobbyhorses and the like showing that they, Desdemona and Emelia, were nothing better than common whores. Othello’s view at the start of the play is contradicting of these patriarchal views with Desdemona and Othellos’ true love overcoming these stereotypes and we are told this through imagery of fair warriors and the like. The power of deceit is shown also th rough imagery of spiders and webs, uniforms and other such images. Also the power of jealousy is well defined by imagery. The handkerchief, green-eyed monster and cuckolding imagery are prominent in defining this theme. The satanic character of Iago is depicted well though different types or imagery. His sadist intend is depicted through suffocating imagery â€Å"I’ll pour pestilence into his(Othello’s) ear† (II iii 356) says Iago in a soliloquy in as he is outlining his malicious intent and nature. This continues throughout the play with lines such as â€Å"The Moor already changes with my poison† (III iii 322) and â€Å"Not poppy nor mandragora, | Nor all the drowsy syrups of the world shall medicine thee to that sweet sleep | Which thou did owdest yesterday† (III iii 327-30). His malicious character is likened to a snake through this imagery of poisons like a snake has and then Lodovico calls him a â€Å"Viper† (V ii 281) which indicates how Iago’s character is that of a snake, and in those times a snake was considered a creature of pure evil. The Machiavellian persona of Iago can also be seen through his use of reputation imagery to Cassio and Oth ello. To Cassio he says â€Å"Reputation is an idle and most false imposition† (II iii 267-8) and as a paradox, to Othello, he says reputation is everything to a man and he is nothing with out it. Iago is also likened very much, though imagery, to the Devil.

Methods of Personnel Development Essay

1. Introduction Successful personnel development is necessary to help and organization to acquire a competitive edge in the market. A well trained and competent workforce and help and organization cut a competitive edge in the market which the competing organizations may find hard to replicate the long run.   Efficient methods of personnel development are necessary for the success of the organization. Personnel have become an important concern for all managers in all industry.   This has been promoted by the problems which have been experienced in hiring of personnel who can meet the required standards to deliver the needed services.   The current strategic human resource management has recognized employees as the most important asset that an organization has. In this regard it has become of paramount important for organization to carry out effective staff development programs which are likely to meet the required work standards.   There has been increasing for the organization to carry out effective individual training programs which will meet the demands of their customers.   When most organization have been emphasizing for the downsizing of their employee, it has become important for them to ensure that it effective training programs which will ensure there is overall growth. (Consulting, 2000) For an organization to ensure that there is effective growth of its workforce, employee training and development has become a priority rather than an option.   There are many organizations which have been carrying out training programs but which have not resulted to the required results.   Training and development  Ã‚   is usually an integral and an expensive part of the human resource department and therefore there should be all efforts aimed at ensuring that there is overall success of the exercise. Effective training and development programs are necessary in order to ensure that there is overall growth of the worker. The most important factor that can help the organization to carryout effective personnel development is to understand the goals of the organization and therefore work to achieve these goals.   The organization goal will assist the organization to come up with effective design and implementation of the organization. Efficient personnel development program are therefore necessary to ensure that the organization cuts a competitive edge in the market. (Jenning, 1996) 2. Success factors for training There are important factors in the overall development process that must be taken into consideration to have effective personnel development. The most important factor that the organizations need to realise in the design and implementation of personnel development is the mission and vision of the organization. This will help the management to become committed to the overall process of personnel development in the most efficient way.   The company should also evaluate the relative risk of exposure which is presented by the compliance requirement and therefore use this as an effective way of prioritizing the needs for planning training.   The management will also involve the key line representatives in order to design and implement train interventions. This means that training should be viewed as a way of helping the organization to remain competitive and not as a necessary evil.   The management should also be keep away of the focus of the training activities and the role  Ã‚   that the activities are intended to achieve and help the organization to achieve in its overall objectives. (Bowie and Jordan, 2001) There are important characteristic which are used to identify a successful training program.   The following are the common characteristics of a successful training in an organization;  · There should be a clear understating of the goals of the organization and the needs of all the line managers for training and development.   This means that   the training programs will be based on these key strategies which are likely to support the   goal of the organization  · There should be involvement of the key line personnel in the selection, design and the scheduling of training.  · The style for delivering the training program must focus on the adult learning concepts  Ã‚   including the relevant content of the course.  · The training activities should be seen as an integral part of the overall training place for the organization and not an individual or a one time event that will come and go.  · There should be a high accountability for the result which will justify the purpose for training.   There should be effective evaluation, measurement and a well organization reporting of the results of training.  · There should be frequent communication between the organization management and the person who are overseeing training program. This will ensure that there is overall support for the training programs and the enforcement of the training values. 3. In house vs. Third party training There are two broad methods which are used to deliver training programs.   These include the in-house training and the third party training program.   The organization is likely to choose the most efficient method that will ensure that there is delivery of the most efficient training program. In-house training will involve when an organization uses the instructor who are a part of the organization.   This employs will also be trained as they continue with their work which means there will less loss of time and the productivity for the organization will not be affected. However this method is likely to result to low employee expectation from the training program since they are likely to learn what they have been practicing. (Rouda and Kusy, 2005) The third party training take place when and organization brings in an extern expert. External experts are likely to come with new experience for the organization which will reinforce the development of the workforce.   Under this method the organization can also decide to take its staff for an external training program which will take place outside the organization.   This method is likely to be more effective since the staff will be expecting to learn new things from what they have been practicing in the organization. In the course of training there are different ways that can be used by the organization to source for training materials.   The organization can develop its own materials in the organization which will be in-house material development. The organizations can also source for material outside through purchase or leasing.  Ã‚   When the organization hires third party to come and training the staff, the conditions for hiring can also be that the third party will be expected to come with training materials. In order to select the best combination for the trainer and the program, the organization should be important consideration including the experience, time for development of the program, resources available, the money available for the program and the cost of the options, the expected quality, the training needs for the organization and the credibility of the method that will be used. 4. Program design The program design describes the way the overall training program will be planned.   Program design consist of   important   aspect of the training   including the conduction of the needs analysis for the   company, the prioritizing o the need in the training place, definition of the   course objectives to match the   training needs, and the selection of   the training formats that will be used in the   training program. a) Need analysis A need analysis is carried out in order to identify the  Ã‚   area in which the organization needs to carry out training.   The need analysis is the first step in determine the whole training program. The need analysis should be carried out comprehensively in order to understand the specific area under in which the training will emphasize. Usually a need analysis will come up with a long list of needs that the organization will have to look at. In need analyses there are three types of data that the trainer will have to collect. The pre-training behaviour will give the knowledge that the trainees have. The post training behaviour will give the expectation from the training that the organization wants to achieve through training.   The workplace reinforcement and constraints will give the factors for the job which can help or hinder the trainees in applying what they will have learned. (Jenning, 1996) b)    Course objectives This should identify the specific objectives that the training will achieve. Identification of the course objective is likely to increase the effectiveness of training and evaluation of needs assessment.   Basically three types of course objectives will have to be looked at. These include the planning objectives, the process objectives and the learning objectives.   This will help in the formatting of the training. c)    Training format There are different formats that can be used to deliver training.   The best format that an organization can choose is the one which will create a setting an environment which is most conducive to learn.   The format has to be flexible.   There are formal and informal training formats Informal training format will include format like one on one tutoring which   can be teem consuming but very effective,   use groups, discussion groups and   newsletters.   On the other hand formal training formats include formats like classroom training like lectures or demonstration, video or audio, computer based trailing, satellite training, teleconferencing, use of simulations, use of manuals, and on   job training.   The formal training methods have become most common used in organisational training since they are more effective and have been supported by the emerging technologies. (Consulting, 2000) d)    Program delivery This is the most important part in the training process. The way the training will be delivered is important in determining how it will be effective to achieve the goals of the training.   Delivery of training should be based on principle of adult learning since most of the employees who undergo training are adults.   There sold a proven adults-instructions practices rather than the traditional classroom delivery method which is likely to compromise the quality of training. e)    E-learning With the increased use of technology in the world, e-learning is also rising to be an important factor in the training programs. E-learning involves the process of delivering learning through the use of person computer. It is widely used in education institution but it is also fining it place in the employee training programs. In employee training e-learning has been providing an effective time saving method of learning as compared to other methods.   It is also easy to carry training from any part of the world can therefore can be used when an organisation choose third party training. However it is expensive since al the employees will need to have a computer. 5. How adults learn According to the learning theories, it has been shown that adults learn different from how children learn.   Unlike children, adults are likely to relate what they hear to their experience and the knowledge they have gathered over time.   Adults are also good listeners and will digest what they are listen.   This means that when training adults, one need to have all the facts to their fingers and ensure that they are correct as challenge can arise at any one time. (Consulting, 2000) According to the adult learning theories there are important factor that have to be considered when teaching them.   First it should be understood that adults are less interested in the overview, they are more interested in what they are learning. They need to be given examples which can help them to relate what they are learning with their real experience. Since they are more critical on what is delivery any information that is likely to contradict what they know should be delivered slowly and in an efficient manner. The training should assist them to make connections with what they already know.   The pace of training should also be suited for their mind. Fast training may prove difficult for them while a too slow training is boring.   The training should avoid trial and error ventures and should reinforce the learnt concept in their real life example. (Jenning, 1996) a)    Designing training experience for adults There are important principal that the trainers must consider when planning adult learning.   The structure of the workshop should take to consideration that adult learns usual need some feedback which is likely to mark their progress in training.   The usually learn best when their own experience is integrated in the learning process. They should be given opportunity to ask questions and interact to share experience.   The adult learners are responsible for their learning and they prefer to share with one another in the process.   This interaction must be given a chance.   Adults are likely to learn in an environment where there is mutual trust and respect for one another.   Adults learners must be motivate din order to feel the need to learn. This earns that they have to be shown the important of undergoing the training and how it is going to affect their job performance. b)    Classroom instruction In order to ensure that there is effectiveness of the training process, there are important characters and method that should be incorporated in the training. some of the   most important factors in training include the   inclusion of discussion breaks time which agreed with   all the participants, ensure that the participants are comfortable, state   clearly the objectives of the training, make a preparation of   the material to be used before the class being so that you can evaluate them, use training aids and establish rapports in the course of training, ensure that you don’t interrupt the   participate when they are contributing,   be yourself and more flexible in the course of the training, answer all the question asked and provide constant feedbacks to the participants. c) Documenting available training courses In order to keep up with the course of the training resources, it is important to keep written records as they have been learnt.   This will help the learners to remind themselves of what they have learned in the course of the training. This is also important as it will help the learners to understand what they have been learning and therefore keep up with the course of the training. It also helps the management to see the courses that are available. d)   Measuring and evaluating training effectiveness There had to be an effective way of evaluating the learning process in order to understand the effectiveness of the learning process. This is very critical since it will determine whether the organization is really meeting its objectives or not. It will help the organisation to understand the important steps that are being made in the course of the training. There are many methods of evaluation that is used in the course of the training. The most effective evaluation methods that are used include the use of smile sheet which is one of the five point evaluation which enquiries about the quality of the instructor and others, there is also the pre-test or post techs which is used to measure the increased in knowledge for the learners.   The presets will establish a baseline while the post test will confirm any improvement that is being made which can be directly attributed to the learning process. An observation can also be carried out on the specific performance of each individual including the trainer and the supervisor.   This will detect any changes in the work behaviour which can be directly attributed to the learning process.  Ã‚   Work performance can also e used as a method of evaluation. In this case work performance will look at the specific job tasks and performance indicators. These indicators are usually well defined and measured before and after training.

Epistemology †empiricism Essay

Principles like those Parmenides assumed are said in contemporary jargon to be a priori principles, or principles of reason, which just means that they are known prior to experience. It is not that we learn these principles first chronologically but rather that our knowledge of them does not depend on our senses. For example, consider the principle â€Å"You can’t make something out of nothing. † If you wished to defend this principle, would you proceed by conducting an experiment in which you tried to make something out of nothing? In fact, you would not. You would base your defense on our inability to conceive of ever making  something out of nothing Everything we know originates from four sources. The first, our senses, can be thought of as our primary source of information. Two other sources, reason and intuition, are derivative in the sense that they produce new facts from data already supplied to our minds. The fourth source, authority (or â€Å"hearsay,† or â€Å"testimony† of others), is by nature secondary, and secondhand fact-claims are always more wiggly and difficult to validate. Other sources of knowledge are commonly claimed, and it is not inconceivable that there might exist other sources; but if they do exist,  knowledge derived from them is problematic, and careful analysis usually finds that they can be subsumed under one or more of the four known sources and must be seriously questioned as legitimate, separate sources of reliable information. In summary, what is the nature of our knowledge about the real world of objects/events? Our knowledge of reality is composed of ideas our minds have created on the basis of our sensory experience. It is a fabric of knowledge woven by the mind. Knowledge is not given to the mind; nothing is â€Å"poured† into it. Rather, the mind manufactures perceptions, concepts, ideas, beliefs, and so forth and holds  them as working hypotheses about external reality. Every idea is a (subjective) working model that enables us to handle real objects/events with some degree of pragmatic efficiency. However persuasive our thoughts and images may be, they are only remote representations of reality; they are tools that enable us to deal with reality. It is as though we draw nondimensional maps to help us understand four-dimensional territory. The semanticists have long reminded us to beware of confusing any sort of map with the real landscape. â€Å"The map,† they say, â€Å"is not the territory. † An abstraction, by definition, is an idea created by the mind to refer to all objects which, possessing certain characteristics in common, are thought of in the same class. The number of objects in the class can range from two to infinity. We can refer to all men, all hurricanes, all books, all energy-forms—all everything. While abstraction-building is an inescapable mental process—in fact it is the first step in the organization of our knowledge of objects/events—a serious problem is inherent in the process. At high levels of abstraction we tend to group together objects that have but a few qualities in common, and our abstractions  may be almost meaningless, without our knowing it. We fall into the habit of using familiar abstractions and fail to realize how empty they are. For example, what do the objects in the following abstractions have in common? All atheists, all Western imperialists, all blacks or all whites (and if you think it’s skin color, think twice), all conservatives, all trees, all French people, all Christians. When we think in such high-level abstractions, it is often the case that we are communicating nothing meaningful at all. â€Å"The individual object or event we are naming, of course, has no name and belongs  to no class until we put it in one. † Going as far back as Plato, philosophers have traditionally defined knowledge as true justified belief. A priori knowledge is knowledge that is justified independently of (or prior to) experience. What kinds of knowledge could be justified without any appeal to experience? Certainly, we can know the truth of definitions and logical truths apart from experience. Hence, definitions and logically necessary truths are examples of a priori knowledge. For example, â€Å"All unicorns are one-horned creatures† is true by definition. Similarly, the following  statement is a sure bet: â€Å"Either my university’s football team will win their next game or they won’t. † Even if they tie or the game is canceled, this would fulfill the â€Å"they won’t win† part of the prediction. Hence, this statement expresses a logically necessary truth about the football team. These two statements are cases of a priori knowledge. Notice that in the particular examples of a priori knowledge I have chosen, they do not give us any real, factual information about the world. Even though the statement about unicorns is true, it does not tell us whether there are any unicorns in the world. Similarly, the football prediction does not tell us the actual outcome of the game. Experience of the world is required to know these things. The second kind of knowledge is a posteriori knowledge, or knowledge that is based on (or posterior to) experience. Similarly, the adjective empirical refers to anything that is based on experience. Any claims based on experience purport to add new information to the subject. Hence, â€Å"Water freezes at 32 degrees Fahrenheit† and â€Å"Tadpoles become frogs† would be examples of a posteriori knowledge. We know the freezing point of water and the life cycle of tadpoles through experience. Thus far, most philosophers would agree on these points. The difficult question now arises: Is there any a priori knowledge that does give us knowledge about the real world? What would that be like? It would be knowledge expressible in a statement such that (a) its truth is not determined solely by the meaning of its terms and (b) it does provide information about the way the world is. Furthermore, since it is a priori, it would be knowledge that we could justify through reason, independently of experience. The question, then, is whether or not reason alone can tell us about the ultimate nature of reality. 1. Is it possible to have knowledge at all? 2. Does reason provide us with knowledge of the world independently of experience? 3. Does our knowledge represent reality as it really is? Rationalism claims that reason or the intellect is the primary source of our fundamental knowledge about reality. Nonrationalists agree that we can use reason to draw conclusions from the information provided by sense experience. However, what distinguishes the rationalists is that they claim that reason can give us knowledge apart from experience. For example, the rationalists point out that we can arrive at mathematical truths about circles  or triangles without having to measure, experiment with, or experience circular or triangular objects. We do so by constructing rational, deductive proofs that lead to absolutely indubitable conclusions that are always universally true of the world outside our minds (a priori knowledge about the world). Obviously, the rationalists think the second question should be answered affirmatively. Empiricism is the claim that sense experience is the sole source of our knowledge about the world. Empiricists insist that when we start life, the original equipment of our intellect is a tabula rasa, or blank tablet. Only through experience does that empty mind become filled with content. Various empiricists give different explanations of the nature of logical and mathematical truths. They are all agreed, however, that these truths are not already latent in the mind before we discover them and that there is no genuine a priori knowledge about the nature of reality. The empiricists would respond â€Å"No! † to the second epistemological question. With respect to question 3, both the rationalists and the empiricists think that our knowledge does represent reality as it really is. Constructivism is used in this discussion to refer to the claim that knowledge is neither already in the mind nor passively received from experience, but that the mind constructs knowledge out of the materials of experience. Immanuel Kant, an 18th-century German philosopher, introduced this view. He was influenced by both the rationalists and the empiricists and attempted to reach a compromise between them. While Kant did not agree with the rationalists on everything, he did believe we can have a priori knowledge of the world as we experience it. Although Kant did not use this label, I call his position constructivism  to capture his distinctive account of knowledge. One troubling consequence of his view was that because the mind imposes its own order on experience, we can never know reality as it is in itself. We can only know reality as it appears to us after it has been filtered and processed by our minds. Hence, Kant answers question 3 negatively. Nevertheless, because Kant thought our minds all have the same cognitive structure, he thought we are able to arrive at universal and objective knowledge within the boundaries of the human situation. Before reading further, look at the highway picture for an example of a classic  experiment in perception. Did you get the right answer, or were your eyes fooled? One way that skeptics attack knowledge claims is to point to all the ways in which we have been deceived by illusions. Our experience with perceptual illusions shows that in the past we have been mistaken about what we thought we knew. These mistakes lead, the skeptic claims, to the conclusion that we can never be certain about our beliefs, from which it follows that our beliefs are not justified. Another, similar strategy of the skeptic is to point to the possibility that our apprehension of reality could be systematically flawed in some way. The story of Ludwig, the brain in the vat who experienced a false virtual reality, would be an example of this strategy. Another strategy is to suppose that there is an inherent flaw in human psychology such that our beliefs never correspond to reality. I call these possible scenarios universal belief falsifiers. The characteristics of a universal belief falsifier are (1) it is a theoretically possible state of affairs, (2) we have no way of knowing if this state of affairs is actual or not, and (3) if this state of affairs is actual, we would never be able to distinguish beliefs that are true  from beliefs that seem to be true but are actually false. Note that the skeptic does not need to prove that these possibilities are actual. For example, the skeptic does not have to establish that we really are brains in a vat, but merely that this condition is possible. Furthermore, the skeptic need not claim that all our beliefs are false. The skeptic’s point is simply that we have no fail-safe method for determining when our beliefs are true or false. Given this circumstance, the skeptic will argue that we cannot distinguish the situation of having evidence that leads to true beliefs from the situation of having the same sort of evidence  plus a universal belief falsifier, which leads to false beliefs. Obviously, the skeptic believes that nothing is beyond doubt. For any one of our beliefs, we can imagine a set of circumstances in which it would be false. For example, I believe I was born in Rahway, New Jersey. However, my birth certificate could be inaccurate. Furthermore, for whatever reasons, my parents may have wished to keep the truth from me. I will never know for sure. I also believe that there is overwhelming evidence that Adolf Hitler committed suicide at the close of World War II. However, it could be true (as conspiracy  theorists maintain) that his death was faked and that he lived a long life in South America after the war. The theme of the skeptic is that certainty is necessary for there to be knowledge, and if doubt is possible, then we do not have certainty. We now have the considerations in place that the skeptic uses to make his or her case. There are many varieties of skeptical arguments, each one exploiting some possible flaw in either human cognition or the alleged evidence we use to justify our beliefs. Instead of presenting various specific arguments, we can consider a â€Å"generic skeptical argument. † Generic Skeptical Argument 1. We can find reasons for doubting any one of our beliefs. 2. It follows that we can doubt all our beliefs. 3. If we can doubt all our beliefs, then we cannot be certain of any of them. 4. If we do not have certainty about any of our beliefs, then we do not have knowledge. 5. Therefore, we do not have knowledge. Pyrrho of Elis (360–270 B. C. ), a philosopher in ancient Greece, inspired a skeptical movement that bore his name (Pyrrhonian skepticism). Pyrrho was skeptical concerning sense experience. He argued that for experience to be a source of knowledge, our sense data  must agree with reality. But it is impossible to jump outside our experience to see how it compares with the external world. So, we can never know whether our experience is giving us accurate information about reality. Furthermore, rational argument cannot give us knowledge either, Pyrrho said, because for every argument supporting one side of an issue, another argument can be constructed to prove the opposing case. Hence, the two arguments cancel each other out and they are equally ineffective in leading us to the truth. The followers of Pyrrho stressed that we can make claims only about how things appear to us. You can say, â€Å"The honey appears to me to be sweet† but not, â€Å"The honey is sweet. † The best approach, according to these skeptics, was to suspend judgment whenever possible and make no assumptions at all. They believed that skeptical detachment would lead to serenity. â€Å"Don’t worry about what you cannot know,† they advised. Some skeptics distilled these arguments down into two simple theses. First, nothing is self-evident, for any axiom we start with can be doubted. Second, nothing can be proven, for either we will have an infinite regress of reasons that support our previous  reasons or we will end up assuming what we are trying to prove. Descartes began his quest for knowledge with the assumption that if he had rational certainty concerning his beliefs, he necessarily had knowledge, and if he did not have certainty, he did not have knowledge. The skeptics who came after Descartes agreed with this assumption. However, as we will see in the next section, Descartes argues that there are a number of things of which we can be certain and, hence, we do have knowledge. On the other hand, the skeptics doubt whether Descartes or anyone can achieve such certainty. Lacking any grounds for certainty, the skeptics claim we cannot have knowledge about the real world. Thus, the skeptics think that Descartes’s arguments for skepticism are stronger than his proposed answers. Such a philosopher was David Hume, whom we will encounter later when we examine empir EXAMINING THE STRENGTHS AND WEAKNESSES OF SKEPTICISM Positive Evaluation 1. Weeding a garden is not sufficient to make flowers grow, but it does do something valuable. In what way could the skeptics be viewed as providing a â€Å"philosophical weeding service† by undercutting beliefs that are naively taken for granted? 2. The skeptics are unsettling because they force us to reexamine our most fundamental beliefs. Is it better to live in naive innocence, never questioning anything, or is it sometimes worthwhile to have your beliefs challenged? Negative Evaluation 1. The skeptics make the following claim: â€Å"Knowledge is impossible. † But isn’t this claim itself a knowledge claim that they declare is true? Is the skeptic being inconsistent? 2. The skeptics use the argument from illusion to show that we cannot trust our senses. But could we ever know that there are illusions or that sometimes our senses are deceived  unless there were occasions when our senses weren’t deceived? 3. Some skeptics would have us believe that it is possible that all our beliefs are false. But would the human race have survived if there was never a correspondence between some of our beliefs and the way reality is constituted? We believe that fire burns, water quenches thirst, vegetables nourish us, and eating sand doesn’t. If we didn’t have some sort of built-in mechanism orienting us toward true beliefs, how could we be as successful as we are in dealing with reality? 4. Is skepticism liveable? Try yelling to someone who claims to be a skeptic, â€Å"Watch out  for that falling tree limb! † Why is it that a skeptic will always look up? Think of other ways in which skeptics might demonstrate that they do believe they can find out what is true or false about the world. 5. Is Descartes’s demand for absolute certainty unreasonable? Can’t we have justified beliefs based on inferences to the best explanation, probability, or practical certainty? Does certainty have to be either 100 percent or 0 percent? The answer is that our reason tells us that â€Å"something cannot come from nothing† and â€Å"material objects do not vanish into thin air. † We will distrust our senses before  we will abandon these beliefs. Hence, our reason seems to have veto power over our sense experience. We often trust our reason even in the face of apparently solid, experiential evidence. The rationalists raise this trust in reason into a full-fledged theory of knowledge. Rationalism is a very influential theory about the source and nature of knowledge. This position may be summarized in terms of the three anchor points of rationalism. These three points are responses to the second question of epistemology, Does reason provide us with knowledge of the world independently of experience? Reason Is the Primary or Most Superior Source of Knowledge about Reality According to the rationalist, it is through reason that we truly understand the fundamental truths about reality. For example, most rationalists would say the truths in the following lists are some very basic truths about the world that will never change. Although our experience certainly does illustrate most of these beliefs, our experiences always consist of par-ticular, concrete events. Hence, no experiences of seeing, feeling, hearing, tasting, or touching specific objects can tell us that these statements will always be true for every  future event we encounter. The rationalist claims that the following statements represent a priori truths about the world. They are a priori because they can be known apart from experience, yet they tell us what the world is like. LOGICAL TRUTHS A and not-A cannot both be true at the same time (where A represents some proposition or claim). This truth is called the law of noncontradiction. (For example, the statement â€Å"John is married and John is not married† is necessarily false. ) If the statement X is true and the statement â€Å"If X, then Y† is true, then it necessarily follows that the statement Y is true. MATHEMATICAL TRUTHS. The area of a triangle will always be one-half the length of the base times its height. If X is larger than Y and Y is larger than Z, then X is larger than Z. METAPHYSICAL TRUTHS Every event has a cause. An object with contradictory properties cannot exist. (No matter how long we search, we will never find a round square. ) ETHICAL PRINCIPLES Some basic moral obligations are not optional. It is morally wrong to maliciously torture someone for the fun of it. Sense Experience Is an Unreliable and Inadequate Route to Knowledge Rationalists typically emphasize the fact that sense experience is relative, changing, and often illusory. An object will look one way in artificial light and will look different in sunlight. Our eyes seem to see water on the road on a hot day, but the image is merely an optical illusion. The rationalist claims that we need our reason to sort out what is appearance from what is reality. Although it is obvious that a rationalist could not get through life without some reliance on sense experience, the rationalist denies that sense experience is the only source of knowledge about reality. Furthermore, experience can tell us only about particular things in the world. However, it cannot give us universal, foundational truths  about reality. Sensory experience can tell me about the properties of this ball, but it cannot tell me about the properties of spheres in general. Experience can tell me that when I combine these two oranges with those two oranges, they add up to four oranges. However, only reason can tell me that two plus two will always equal four and that this result will be true not only for these oranges, or all oranges, but for anything whatsoever. The Fundamental Truths about the World Can Be Known A Priori: They Are Either Innate or Self-Evident to Our Minds Innate ideas are ideas that are inborn. They are ideas or principles that the mind already contains prior to experience. The notion of innate ideas is commonly found in rationalistic philosophies, but it is rejected by the empiricists. The theory of innate ideas views the mind like a computer that comes from the factory with numerous programs already loaded on its disk, waiting to be activated. Hence, rationalists say that such ideas as the laws of logic, the concept of justice, or the idea of God are already contained deep within the mind and only need to be brought to the level of conscious awareness. Innate ideas should not be confused with instinct. Instinct is a noncognitive set of mechanical behaviors, such as blinking the eyes when an object approaches them. The theory of innate ideas is one account of how we can have a priori knowledge. Other rationalists believe that if the mind does not already contain these ideas, they are, at least, either self-evident or natural to the mind and the mind has a natural predisposition to recognize them. For example, Gottfried Leibniz (1646–1716), a German rationalist, compared the mind to a block of marble that contains veins or natural splitting points that allow only one sort of shape to be formed within it. Thus, the mind, like the marble, has an innate structure that results in â€Å"inclinations, dispositions, habits, or natural capacities† to think in certain ways. In contrast to this view, John Locke (a British empiricist) said: â€Å"There is nothing in the intellect that was not first in the senses. † In response, Leibniz tagged the following rationalistic qualification at the end of Locke’s formula, â€Å"except for the intellect itself. † Obviously, in saying that the mind contains rational ideas or dispositions, the rationalists do not believe a baby is thinking about the theorems of geometry. Instead, they claim  that when a person achieves a certain level of cognitive development, he or she will be capable of realizing the self-evident truth of certain ideas. Leibniz pointed out that there is a difference between the mind containing rational principles and being aware of them. Rationalists give different accounts of how the mind acquired innate ideas in the first place. Socrates and Plato believed that our souls preexisted our current life and received knowledge from a previous form of existence. Theistic rationalists, such as Descartes, tend to believe that God implanted these ideas within us. Others simply claim that these principles or ideas naturally accompany rational minds such as ours. THE RATIONALISTS’ ANSWERS TO THE THREE EPISTEMOLOGICAL QUESTIONS Section 2. 0 contained three questions concerning knowledge: (1) Is knowledge possible? (2) Does reason provide us with knowledge of the world independently of experience? and (3) Does our knowledge represent reality as it really is? While differing on the details, all the rationalists give the same answers to these three questions. First, they all believe that knowledge is possible. Generally, we are able to discern that some opinions are better than others. For example, in the discipline of mathematics some answers are true and some are false. We could not know this fact if obtaining knowledge was impossible. Second, the rationalists agree that only through reason can we find an adequate basis for knowledge. For example, in mathematics and logic we are able through reason alone to arrive at truths that are absolutely certain and necessarily true. Third, rationalists agree that beliefs that are based on reason do represent reality as it truly is. In the following sections, I examine three classical rationalists to see how they illustrate the three anchor points of rationalism and  answer the three epistemological questions. Socrates’ answers to the three epistemological questions should be clear. (1) We are able to distinguish true opinions from false ones, so we must know the standards for making this distinction. (2) These standards could not be derived from experience so they must be unpacked through a rational investigation of the reservoir of all truth—the soul. (3) Since our rational knowledge provides us with information that enables us to deal successfully with the world and our own lives, it must be giving us an accurate picture of reality. However, according to Plato, since the  physical world is constantly changing, sense perception gives us only relative and temporary information about changing, particular things. Being a typical rationalist, Plato thought that ultimate knowledge must be objective, unchanging, and universal. Furthermore, he argued that there is a difference between true opinions and knowledge, for our beliefs must be rationally justified to qualify as knowledge. Finally, Plato believed that the object of knowledge must be something that really exists. Plato and the Role of Reason Do mathematical truths, such as those in the multiplication tables, exist within the mind or do they exist outside the mind? Plato would say both. If mathematical truths exist only in the mind, then why does physical reality conform to these truths? If mathematical truths are only mind-dependent ideas, then why can’t we make the truths about triangles be anything we decide them to be? The world of Alice’s Adventures in Wonderland was created in the mind of Lewis Carroll. He could have made the world’s properties be anything he decided. But obviously, we can’t make up such rules for the properties of numbers. We don’t create these truths; we discover them. Thus, Plato would argue, these truths are objective and independent of our minds. But if they are independent of our minds, then they must refer to something that exists in reality. Although the number seven, for example, has objective properties that we discover, these properties are not physical. We do not learn the truths about numbers by seeing, tasting, hearing, smelling, or touching them. From this concept, Plato concludes that the world of mathematics consists of a set of objective, mindindependent truths and a domain of nonphysical reality that we know only through reason. What about justice? What color is it? How tall is it? How much does it weigh? Clearly, these questions can apply to physical things, but it is meaningless to describe justice in terms of observable properties. Furthermore, no society is perfectly just. Hence, we have never seen an example of perfect justice in human history, only frail, human attempts to approximate it. Because reason can contemplate Justice Itself,* we can evaluate the deficient, limited degrees of justice found in particular societies. Particular nations come and go and the degree of justice they manifest can rise or fall. But the objects of genuine knowledge  such as true Justice or true Circularity are eternal and unchanging standards and objects of knowledge. Plato on Universals and the Knowledge of Reality Thus far, Plato has argued that there are some things that we could not know about (Justice, Goodness, Equality) if experience was our only source of knowledge. The soul must have somehow acquired knowledge independently of the senses. But what, exactly, are the objects of this special sort of knowledge? In answering this question, Plato builds on the distinction he has made between the here-and-now realm of sense experience and the unchanging realm of rational knowledge. He says that in the world of sense experience we find that particulars fall into a number of stable, universal categories. Without these categories, we could not identify anything or talk about particulars at all. For example, Tom, Andre, Maria, and Lakatria are all distinct individuals, yet we can use the universal term human being to refer to each of them. In spite of their differences, something about them is the same. Corresponding to each common name (such as â€Å"human,† â€Å"dog,† â€Å"justice†) is a Universal that consists of the essential, common properties of anything within that category. Circular objects (coins, rings, wreathes, planetary orbits) all have the Universal of Circularity in common. Particular objects that are beautiful (roses, seashells, persons, sunsets, paintings) all share the Universal of Beauty. Particulars come into being, change, and pass away but Universals reside in an eternal, unchanging world. The rose grows from a bud, becomes a beautiful flower, and then turns brown and ugly and fades away. Yet the Universal of Beauty (or Beauty Itself ) remains eternally the same. Plato believes that Universals are more than concepts, they are actually the constituents  of reality. Hence, in answer to the third epistemological question, Plato believes that knowledge of Universals provides us with knowledge of the fundamental features of reality, which are nonphysical, eternal, and unchanging. Plato also refers to these Universals as â€Å"Forms. † The following thought experiment will help you appreciate Plato’s emphasis on Universals and universal truth. Descartes on the Possibility of Knowledge Although Descartes was certain he could not be deceived about his own existence, the possibility of a Great Deceiver cast a shadow over all his other beliefs. Unless he could find something external to his mind that would guarantee that the contents of his mind represented reality, there was little hope for having any knowledge other than that of his own existence. Descartes sought this guarantee in an all-powerful, good God. Hence, Descartes says, â€Å"As soon as the opportunity arises I must examine whether there is a God, and, if there is, whether he can be a deceiver. For if I do not know this, it seems that I can never be quite certain about anything else. †12 If Descartes could prove that such a God exists, then he could know that knowledge is possible. But notice how limited are the materials Descartes has at his disposal for proving God’s existence. He cannot employ an empirical argument based on the nature of the external world, for that is an issue that is still in doubt. So, he must construct a rationalistic argument that reasons only from the contents of his own mind. STOP AND THINK Descartes on the Role of Reason In the following passage from Meditation III, Descartes says the â€Å"natural light of reason† shows him that (1) something cannot arise from nothing and (2) there must be at least as much reality in the cause as there is in the effect. †¢ What examples does he use to illustrate each of these principles? †¢ How does he apply these two principles to the existence of his own ideas? The argument that Descartes has given us in the previous passages can be summarized in this way: 1. Something cannot be derived from nothing. (In other words, all effects, including ideas, are caused by something. ) 2. There must be at least as much reality in the cause as there is in the effect. 3. I have an idea of God (as an infinite and perfect being). 4. The idea of God in my mind is an effect that was caused by something. 5.  I am finite and imperfect, and thus I could not be the cause of the idea of an infinite and perfect God. 6. Only an infinite and perfect being could be the cause of such an idea. 7. Therefore, God (an infinite and perfect being) exists. THE THREE ANCHOR POINTS OF EMPIRICISM The Only Source of Genuine Knowledge Is Sense Experience The empiricists compare the mind to a blank tablet upon which experience makes its marks. Without experience, they claim, we would lack not only knowledge of the specific features of the world, but also the ability even to conceive of qualities such.

Responses to Question 1 and 4 on “Two Ways of Seeing a River” on page 481 of Model for Writers

1. The method of organization that Twain uses in this selection is time order because he described the way he saw and experienced the river in a sequence as they occurred. In addition, he stared an essay by telling an event in the past and ended it in the present. That is the time order organization. He might have used the comparison and contrast method as the alternative methods because he compared two different ways of seeing the same river. The knowledge and the experience would have been gained or lost. 4. Yes, Twain feels he has â€Å"gained most or lost most†. He has gained the knowledge and the experience when he looking at the river. At the first time he saw it, he was inspired by its calmness, its smoothness and its beauty. However, after lots of time looking at that river, he became less impressed in it. While he lost his emotional connection to the river, he lost the connectedness of it to his live. That’s what he has lost. Reponses to Question 1 through 6 on â€Å"Grant and Lee: A Study in Contrasts† on page 493-494 of Model for Writers 1. In paragraph 10-12, Catton discusses what he considers to be the most striking contrast between Grant and Lee. That different is that while Lee saw himself defending only his region, a static society that did not want to change, Grant was fighting for a growing, expanding nation. In addition, Grant was â€Å"the modern man emerging,† while Lee stood for the past, for traditions that originated in the age of chivalry. . The similarities that Catton sees between Grant and Lee are tenacious, daring and resourceful. Most important, according to Catton believes, is that both of them had the ability to turn from war to peace because it helped the two sections to become one nation again. 3. 4. Catton organizes the body of his essay paragraph 3-16 by using time order and logical order pattern. He introduces the background of Grant and Lee and their view of soci ety by contrasting them. Then he uses transitional paragraph from contrast to comparison. 5. 6. Catton constructs clear transitions between paragraphs. The transitional devices he uses are using comparison and contrast words to link the paragraphs (yet, on the other hand), using addition words such as furthermore, and, and using time transition (lastly). Because of these transitions, they help me read easily to know the main idea of the whole essay and to join the various parts of an essay together.

Role of Commercial Banks in Development

Role of commercial banks in development. INTRODUCTION A commercial bank is something with which every one of us is well known. However different bankers and economists have defined it in a different way:   According to Kent: â€Å"An organization whose principal operations are concerned with the accumulation of the temporarily idle money of the general public for the purpose of advancing to others for expenditure. † According to Banking Companies Ordinance 1962: Banking means the accepting for the purpose of lending or investing of deposits of money from the public repayable in demand or otherwise and withdraw-able by cheque, draft order or otherwise. † Various economists have different views about the role of commercial banks in economic development. Schumpeter says,  Ã¢â‚¬Å"It is the banking system which serves as a key agent along with the entrepreneur in the process of economic development†. According to  Prof. Cameron  in his â€Å"Banking and Economi c Development†, â€Å"a banking system may make a positive contribution to economic growth and development. Evolution of Commercial Banks The foundation for building a broad base of agricultural credit structure was laid by the Report of the All-India Rural Credit Survey (AIRCS) of 1954. The provision of cultivator credit in 1951-52 was less than 1% for commercial banks. In the report it was observed that agricultural credit fell short of the right quantity, was not of the right type, did not fit the right purpose and often failed to go to the right people.With a view to give an impetus to commercial banks, particularly, in the sphere of investment credit, the nationalization of the Imperial Bank of India and its re-designation as the State Bank of India (SBI) was recommended. Growth in Outreach 1951-91 From the position prevalent in 1951-52, commercial banks came a long way with a substantial spread of 32,224 branches in rural and semi-urban areas comprising 68% of their tot al outlets as on 31 March 1991. The outstanding deposits of such branches at Rs. 7,855 crores as on the same date constituted around 35% of their total deposits, while loans outstanding at Rs. 43,797 crore comprised 36% of outstanding credit. The agricultural advances of the commercial banking system aggregated Rs. 16,687 crore and constituted 14% of total advances in March 1991. The rural and semi-urban branches of commercial banks covered 17. 6 crore deposit accounts while the number of loan accounts serviced aggregated 3. 7 crore. Growth during 1991-92 to 2003-04 The period since 1991-92 has seen a fairly rapid expansion of credit to agriculture.Available data indicate that the flow of credit to agriculture by commercial banks and RRBs taken together increased to Rs. 60,022 crore in 2003-04. This implies a compounded annual growth rate of 22. 2%. In fact, as compared with commercial banks (including RRBs), the flow of credit from the cooperative sector was much slower through thi s period. The compounded annual growth rate of credit for agriculture from cooperative institutions was only 13. 7%. Further, the proportion of agriculture credit to total credit came down because of the rapid growth in non agriculture credit.The Government took some major initiatives during the period to boost agriculture production and productivity through enhanced credit flow and by way of building agricultural infrastructure, particularly irrigation and connectivity in rural areas. Special Agricultural Credit Plan (SACP) was introduced by RBI for Public Sector Commercial Banks in 1994-95. Credit growth for agriculture and allied sectors under this caption reflected a CAGR of 36. 45% during 2001-02 to 2005-06. SACP has since been extended to Private Sector Commercial Banks from 2005-06.The SHG – Bank Linkage Programme was started as a pilot project by NABARD in 1992. It led to the evolution of a set of RBI approved guidelines to banks to enable SHGs to transact with banks. Initially there was slow progress in the programme up to 1999 as only 32,995 groups were credit linked during the period 1992 to 1999. Since then the programme has been growing rapidly and the cumulative number of SHGs financed increased from 4. 61 lakhs on 31 March 2002 to 10. 73 lakhs on 31 March 2004 and further to 29. 25 lakh groups as on 31 March 2007.Rural Infrastructure Development Fund (RIDF) was set-up in NABARD by GoI during 1995-96 with an initial corpus of Rs. 2000 crore, to accelerate the 47 completion of on-going projects of rural infrastructure. Banks which did not fulfill the priority sector credit requirement and agriculture credit mandate were required to contribute to this Fund. The fund has been strengthened every year with additional allocations in the Union Budget. A large number of irrigation and rural connectivity projects could get completed under RIDF. RBI scaled down its contribution to the Rural Credit funds with NABARD to a token amount of Rs. crore per annum since 1993-94. However to enable NABARD to have reasonably strong leverage for accessing market funds, the share capital of NABARD was strengthened and increased to Rs. 2000 crore (paid up) from Rs. 100 crore at the time of its formation in 1982. Contributions to enhanced share capital have come from GoI and RBI. By prudent funds management, the institution has also built a strong base of reserves and has been using it in its business operations judiciously to keep lending rates to rural financial institutions at significantly lower than market costs. Developments – Post 2003-04Since 2003-04, there has been a substantial increase in the flow of credit to agriculture through commercial banks. Disbursements have increased from Rs. 52,441 crore in 2003-04 to Rs. 1,16,447 crore in 2005-06, reaching an annual growth of 43% each year. As envisaged in the GoI's strategy for â€Å"doubling of credit†, 95 lakh new farmers have been brought under the institutional fold an d 1,383 agri-clinics opened. Commercial banks have also played a major role in the promotion of the SHG – bank linkage movement with more than 11. 88 lakh groups being linked to banks for provision of credit.Reforms in the commercial banking system include removal of procedural and transactional bottlenecks including elimination of Service Area Approach, reducing margins, redefining overdues to coincide with crop cycles, new debt restructuring policies, one time settlement and relief measures for farmers indebted to non-institutional sources. Banks play a vital role in the economic development of a country. They accumulate the idle savings of the people and make them available for investment. They also create new demand deposits in the process of granting loans and purchasing investment ecurities. They facilitate trade both inside and outside the country by accepting and discounting of bills of exchange. Banks also increase the mobility of capital. They provide a variety of f acilities for remitting a large amount of money from one place to another by the transfer of a mere slip of paper. Commercial banks play an important and active role in the economic development of a country, if the banking system in a country is effective, efficient and disciplined; it brings about a rapid growth in the various sectors of the economy. The Functions of Commercial BanksIn the modern world, banks perform such a variety of functions that it is not possible to make an all-inclusive list of their functions and services. However, some basic functions performed by the banks are discussed below. 1. Accepting  Deposits The first important function of a bank is to accept deposits from those who can save but cannot profitably utilize this saving themselves. People consider it more rational to deposit their savings in a bank because by doing so they, on the one hand, earn interest, and on the other, avoid the danger of theft.To attract savings from all sorts of individuals, th e banks maintain different types of accounts: (i) Fixed Deposit Account: Money in these accounts is deposited for fixed period of time (say one, two, or five years) and cannot be withdrawn before the expiry of that period. The rate of interest on this account is higher than that on other types of deposits. The longer the period, the higher will be the rate of interest. Fixed deposits arc also called time deposits or time liabilities. (ii) Current Deposit Account: These accounts are generally maintained by the traders and businessmen who have to make a number of payments every day.Money from these accounts can be withdrawn in as many times and in as much amount as desired by the depositors. Normally, no interest is paid on these accounts; rather, the depositors have to pay certain incidental charges to the bank for the services rendered by it. Current deposits are also called demand deposits or demand liabilities. (iii) Saving Deposit Account: The aim of these accounts is to encourag e and mobilise small savings of the public. Certain restrictions are imposed on the depositors regarding the number of withdrawals and the amount to be withdrawn in a given period.Cheque facility is provided to the depositors. Rate of interest paid on these deposits is low as compared to that on fixed deposits. (iv) Recurring Deposit Account: The purpose of these accounts is to encourage regular savings by the public, particularly by the fixed income group. Generally money in these accounts is deposited in monthly installments for a fixed period and is repaid to the depositors along with interest on maturity. The rate of interest on these deposits is nearly the same 3s on fixed deposits. (v) Home Safe Account: Home safe account is another scheme aiming at promoting saving habits among the people.Under this scheme, a safe is supplied to the depositor to keep it at home and to put his small savings in it. Periodically, the safe is taken to the bank where the amount of safe is credited to his account. 2. Advancing  of loans The second important function of a bank is advancing of loans to the public. After keeping certain cash reserves, the banks lend their deposits to the needy borrowers. Before advancing loans, the banks satisfy themselves about the credits worthness of the borrowers. Various types of loans granted by the banks are discussed below: (i) Money at Call:Such loans are very short period loans and can be called back by the bank at a very short notice of say one day to fourteen days. These loans are generally made to other banks or financial institutions. (ii)  Cash Credit: It is a type of loan, which is given to the borrower against his current assets, such as shares, stocks, bonds, etc. Such loans are not based on personal security. The bank opens the account in the name of the borrowers and allows him to withdraw borrowed money from time to time up to a certain limit as determined by the value of his current assets.Interest is charged only on th e amount actually withdrawn from the account. (iii) Overdraft: Sometimes, the bank provides overdraft facilities to its customers though which they are allowed to withdraw more than their deposits. Interest is charged from the customers on the overdrawn amount. (iv) Discounting of Bills of Exchange: This is another popular type of lending by the modern banks. Through this method, a holder of a bill of exchange can get it discounted by the bank. In a bill of exchange, the debtor accepts the bill drawn upon him by the creditor  (i. e,  holder of the bill) and agrees to pay the amount mentioned on maturity.After making some marginal deductions (in the form of commission), the bank pays the value of the bill to the holder. When the bill of exchange matures, the bank gets its payment from the party, which had accepted the bill. Thus, such a loan is self-liquidating. (v)  Term Loans: The banks have also started advancing medium-term and long-term loans. The maturity period for such loans is more than one year. The amount sanctioned is either paid or credited to the account of the borrower. The interest is charged on the entire amount of the loan and the loan is repaid either on maturity or in installments. . Credit Creation A unique function of the bank is to create credit. In fact, credit creation is the natural outcome of the process of advancing loan as adopted by the banks. When a bank advances a loan to its customer, it does not lend cash but opens an account in the borrower's name and credits the amount of loan to this account. Thus, whenever a bank grants a loan, it creates an equal amount of bank deposit. Creation of such deposits is called credit creation which results in a net increase in the money stock of the economy.Banks have the ability to create credit many times more than their deposits and this ability of multiple credit creation depends upon the cash-reserve ratio of the banks. 4. Promoting Cheque System: Banks also render a very useful medi um of exchange in the form of cheques. Through a cheque, the depositor directs the bankers to make payment to the payee. Cheque is the most developed credit instrument in the money market. In the modern business transactions, cheques have become much more convenient method of settling debts than the use of cash. 5. Agency Functions:Banks also perform certain agency functions for and on behalf of their customers: (i) Remittance of Funds: Banks help their customers in transferring funds from one place to another through cheques, drafts, etc. (ii) Collection and Payment of Credit Instruments: Banks collect and pay various credit instruments like cheques, bills of exchange, promissory notes, etc. (iii) Execution of Standing Orders: Banks execute the standing instructions of their customers for making various periodic payments. They pay subscriptions, rents, insurance premium, etc. on behalf of their customers. (iv) Purchasing and Sale of Securities:Banks undertake purchase and sale of v arious securities like shares, stocks, bonds, debentures etc. on behalf of their customers. Banks neither give any advice to their customers regarding these investments nor levy any charge on them for their service, but simply perform the function of a broker. (v) Collection of Dividends on Shares: Banks collect dividends, interest on shares and debentures of their customers. (vi) Income Tax Consultancy: Banks may also employ income-tax experts lo prepare income-tax returns for their customers and to help them to get refund of income-tax. (vii) Acting as Trustee and Executor:Banks preserve the wills of their customers and execute them after their death. (viii) Acting as Representative and Correspondent: Sometimes the banks act as representatives and correspondents of their customers. They get passports, travelers tickets, book vehicles, plots for their customers and receive letters on their behalf. 6. General Utility Function: In addition to agency services, the modern banks provide many general utility services as given below: (i) Locker Facility: Banks provide locker facility to their customers. The customers can keep their valuables and important documents in these lockers for safe custody. ii) Traveller's Cheques: Banks issue traveller's cheques to help their customers lo travel without the fear of theft or loss of money. With this facility, the customers need not take the risk of carrying cash with them during their travels. (iii) Letter of Credit: Letters of credit are issued by the banks to their customers certifying their creditworthiness. Letters of credit are very useful in foreign trade. (iv) Collection of Statistics: Banks collect statistics giving important information relating to industry, trade and commerce, money and banking.They also publish journals and bulletins containing research articles on economic and financial matters. (v) Underwriting Securities: Banks underwrite the securities issued by the government, public or private bodies. Becau se of its full faith in banks, the public will not hesitate in buying securities carrying the signatures of a bank. (vi) Gift Cheques: Some banks issue cheques of various denominations (say of Rs. 11, 21, 31, 51. 101, etc. ) to be used on auspicious occasions. (vii) Acting as Referee: Banks may be referred for seeking information regarding the financial position, business reputation and respectability of their customers. viii) Foreign Exchange Business: Banks also deal in the business of foreign currencies. Again, they may finance foreign trade by discounting foreign bills of exchange. Role of Commercial Banks In Economic Development Of A Country Commercial banks  play an important and active role in the economic development of a country. If the banking system in a country is effective’, efficient and disciplined, it brings about a rapid growth in the various sectors of the economy. The economic significance of commercial banks is given in brief. (1) Banks promote capital f ormation.The commercial banks play an important role in rising of the financial resources. They encourage savings by giving various types of incentives to the savers. They expand branches of the banks in rural and urban areas and mobilize savings even at far of places. These savings are then made available to the businesses which make use of them for productive purposes in the country. The banks are, therefore, not only store houses of the country’s wealth, but also provide stream of resources necessary for economic development. (2) Investment in new enterprises.Businessmen normally hesitate to invest their money in risky enterprises. The commercial banks generally provide short and medium term loans to entrepreneurs to invest in new enterprises and adopt new methods of production. The provision of timely credit increases the productive capacity of the economy. (3) Promotion of trade and industry. With the growth of commercial banking in the 19th and 20th centuries, there is vast expansion in trade and industry. The use of bank draft, cheque, bill of exchange credit cards etc has revolutionized both national and international trade. (4) Development of agriculture.The commercial banks, particularly in developing countries, are now providing credit for the development of agriculture and small scale industries in rural areas. The provision of credit to agriculture sector has greatly helped in raising agricultural productivity and income of the farmers. This has led to increased demand for industrial goods and expansion of industry. (5) Balanced development of different regions. The commercial banks play an important role in achieving balanced in different regions of the country. They help in transferring surplus capital from developed regions to the less developing regions.The traders, industrialists etc of less developed regions are able to get adequate capital for meeting their business needs. This, in turn, increases investment, trade and production in the economy. (6) Influencing economy activity. The banks can also influence the economic activity of the country through its influence on (a) availability of credit and (b) the rate of interest. If the commercial banks are able to increase the amount of money in circulation through credit creation or by lowering the rate of interest, it directly affects economic development. A low rate of interest can encourage investment.The credit creation activity can raise aggregate demand which leads to more production in the economy. Which finally increases the growth of the nation. (7) Implementation of monetary policy. The central bank of the country controls and regulates volume of credit through the active cooperation of the banking system in the country. If helps in bringing price stability and promotes economic growth within shortest possible period to time. (8) Monetization of the economy. The commercial banks by opening branches in the rural and backward areas are reducing the exchange of goods through barter.The use of money has now greatly increased the volume of production of goods. The non-monetized sector (barter economy) is now being converted into monetized sector with the help  of commercial banks. (9) Export promotion cells. In order to increase the exports of the country, the commercial banks have established export promotion cells. They provide information about general trade and economic conditions both inside and outside the country to its customers. The banks are, therefore, making positive contribution in the process of economic development.Role of banks in 21st century: The commercial banks are now not confined to local banking. They are fast changing into global banking i. e. , understanding the global customer, using latest information technology, competing in the open market with high technology system, changing from domestic banking to investment banking etc. The commercial banks are now considered the nerve centre of all economic developmen t in the country. The use of online banking is now on the increase. It has brought revolution in banking industry. CONCLUSIONCommercial banks are considered not merely as dealers in money but also the leaders in economic development. They are not only the store houses of the country’s wealth but also the reservoirs of resources necessary for economic development. They play an important role in the economic development of a country. A well-developed banking system is essential for the economic development of a country. The â€Å"Industrial Revolution† in Europe in the 19th century would not have been possible without a sound system of commercial banking. In case of developing countries like India, the commercial banks are considered to be the backbone of the economy.The Banking Sector has for centuries now formed one of the pillars of economic prosperity. Indeed history provides us with some starting information regarding how banks provided finance for imperialist ventu res in newly acquired colonies. Over time banks have formed an important part in providing an avenue for both savings and investments. Land, Labor, capital and entrepreneurs are the basic economic resources available to business. However, to make the use of these resources, a business requires finance to purchase of the land, hire labor, pay for capital goods and pay for individuals with specialized skills.The commercial banks provide capital, technical assistance and other facilities to businessmen according to their need, which leads to development in trade. Commercial banks finance the most important sector of the developing economics i. e. agriculture, short, medium and long-term loans are provided for the purchase of seeds and fertilizer, installation of tube wells, construction of warehouses, purchase of tractor and thresher etc. Commercial banks help in increasing the rate of capital formation in a country. Capital formation means increase in number of production units, techn ology, plant and machinery.They finance the projects responsible for increasing the rate of capital formation. Commercial banks help the traders of two different countries to undertake business. Letter of credit is issued by the importer’s bank to the exporters to ensure the payment. The banks also arrange foreign exchange. Commercial banks provide the facility of transferring funds from one place to another which leads to the growth of trade. The commercial banks financed the transport sector. It has reduced unemployment on one hand and increased the transport facility on the other hand. Remote areas are linked to main markets through developed transport system.These are the few ways in which the commercial banks had helped in developing the economy of a country. BIBLIOGRAPHY * Samuelson Norhaus, economics, 18th edn, Tata McGraw Hill Publishing Co. Ltd. , 2008 * Xam idea, economics, F K Publication, 2009 * Chitta Ranjan Basu, Commercial Banking in the Planned Economy of Indi a, Mittal Publications, 1991 * N. Gregory Mankiw, Principles of Economics, cengage learning, 2012 * www. preservearticles. com ——————————————– [ 2 ]. N. Gregory Mankiw, Principles of Economics, cengage learning, 2012 [ 3 ]. www. bankingsector. co. in [ 4 ].N. Gregory Mankiw, Principles of Economics, cengage learning, 2012 [ 5 ]. Xam idea, economics. [ 6 ]. N. Gregory Mankiw, Principles of Economics, cengage learning, 2012 [ 7 ]. www. preservearticles. com [ 8 ]. www. ehow. com [ 9 ]. 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