How To Write A Short Essay

How To Write A Short Essay The one thought that appears in the head is â€" Write my essay for me. On this case, Darwin essay is strictly the place you might be searching for. Students meeting the statewide index or designated as ELC who are not admitted to any of the UC campuses to which they apply are offered a spot at another UC campus if space is available. A persuasive essay revolves around a particular opinion and aims to present facts and information to persuade the reader into buying that argument or opinion. In other words, a persuasive essay is an advertisement for the author’s opinion and authors leverage previously published literature to reinforce their hypothesis, opinion, or theory. We check the portfolios and test the authors’ writing skills. grammar mistakes are unacceptable in an academic paper of any type. As soon as the essay is completed â€" you’ll receive it. the performers working for PapersOwls have the experience that allows them to do all kinds of academic writing for hire. All those opinions that you present in the body of the essay need to be connected to each other. Everything mentioned in an essay should fit together like the pieces of the jigsaw puzzle. August College Search Guide For the August College Search Guide, I would customarily write that I hope your children got the chance to decompress and savor the summer break. Our usual activities have been upended and we’re constantly challenged to get to a place of normalcy in our daily lives. This essay, unlike the first one, focuses on a student’s future and how an MBA from GSB will help students achieve their goals. After being double and triple checked, we put together the completed essay for download by way of your customer account. We all the time goal to deliver your order completely on time and with none outstanding issues. The essay is a form of creative job, which for many has develop into a kind of a breath of recent air, diluting the usual boring work. In its kind, the essay â€" a prose work, which in a free composition describes private experiences, emotions, and ideas on a selected subject, state of affairs or occasion. But sometimes the coed doesn’t have time or literary means to perform this process on a perfect rating. Establishing context between the different arguments and opinions presented in the body is an accredited way to conclude an essay. Try to imagine every argument presented in the body of the essay as a morsel of flour. The essays will be scrutinized through plagiarism software. Only original essays will be considered for the competition. No part of it should have been published earlier nor should it be under consideration for publication or a contest elsewhere. Moreover, any form of plagiarism will result in the disqualification of the essay. The Self-Reported Academic Record allows students to self-report their courses, grades, grade-point averages, and other academic information. Rutgers requires that you provide a short essay of your original work. Please address one of the following topics or submit an essay on a topic of your choice. We’ll assign the job to the author with the highest expertise on the subject, so you can be sure of the paper quality. Participants would have to submit their essays using the Submission Form on the Website. All the essays submitted shall be the exclusive property of Organisers. Without gluten in the mix, it wouldn’t bind with each other. Your conclusions should bind together all the elements and opinions discussed in the body of the essay, together. The SAT essay and ACT writing component are not required.

Essay Writer

Essay Writer You can present facts, statistics, or other people’s thoughts to back up the point you are making in each paragraph. From organizing your argument to writing clear, appealing sentences to proofreading, develop your writing technique for the five paragraph essay and beyond. Anytime you have an active project with us, you can interact with your writer directly throughout this process. Just sign in to your customer account, then send and receive messages with your writer. In this way, you know the precise status of your assignment from the time you place your order until the final project is finished. Top grades and more free time in the evening are what you receive. Students from low-income backgrounds may not realize that they have a unique perspective to present to admissions officers. Essay Info is for anyone who wants to improve the writing skills. Whether your purpose is to get better grades at school or just to enjoy the writing process Essay Info will lead you to your goal. It is intended mainly for college students and useful for those of you, who strive to write more clearly, gracefully, and efficiently. We also offer case studies, term papers, research papers, book reports, lab reports, PowerPoint presentations, and many other types of projects. Even PhD dissertations are not a problem for the skilled team of the professional writing services. This course is suitable for upper-grade school to adult students who are learning about essay writing or who wish to refresh their writing skills. The short, clearly explained lessons are suitable for those learning English as well - provided they have at least an intermediate English level to understand the lectures. Academically, the information provided will help students from upper grade school to adult writers. Writing Essays takes you through the whole essay writing process â€" from preparing and planning to completion. Writing essays is structured progressively and I recommend that you use it in this way. However, you will see from the sidebar that the guide is divided into a number of main sections. Click on any one of these and you will see that it’s divided into shorter sections or subsections. So you can either read it straight through from start to finish or you can go straight to the area that’s most relevant to you. You have to look at several online guides that give you some hints. But these are general instructions that don’t help you complete a specific paper. When you realize that you also have to stick to the formatting standards of a particular style guide, a simple essay turns into an overwhelming mission. Things get worse when different professors ask for different citation styles, so you have to learn Turabian, APA, MLA, Harvard, and several others. When you put it like that, professional writing services help you deal with serious stress. When the deadline comes, submit your article and call it a day. We guarantee zero plagiarism and individual approach to your task. What you instruct in order specifications will be fulfilled in your texts hands down. If you just plan to enroll to college, Essay Info will provide you all information you need on financial aid and finding money for your college education. The body paragraphs of your essay are where you present your arguments, descriptions, or ideas. Each of these paragraphs should begin with an introductory statement to let the reader know the main idea for that paragraph. The next 3â€"5 sentences should present further information related to that idea. This is where you will use the research you conducted earlier. We are not limited to the information about the basics of academic writing. We bring to your attention hints on effective resume and cover letter writing, making a presentation in class and at work. At Essay Info you can find quick tips for making any writing assignment sound great. Any online essay writing service is only as good as the people behind it, and their passion for what they do. We are the kids who asked for extra homework when we were in school. You know all of those books you were forced to read in high school? You’ll notice that our list of services is truly versatile. You can order a simple essay, but we don’t limit our offer to that commonly requested paper. The thesis is a succinct statement of your overall argument. If you introduction is multiple paragraphs long you have more flexibility where you place the thesis.

General Essay Writing Tips

General Essay Writing Tips Once you are happy with your brainstorm you can use it to plan your essay. You also need to consider the length of your essay. In a 2000 word essay you can cover more points than in a 1000 word one! It demonstrates that you are enlisting the support of someone’s research to support your own ideas. Generally speaking a reference list must accompany your essay. Directive or Instructional words tell you how to approach the essay. End with a broad statement relating to the significance of your argument. Your paragraphs should link together â€" use connective words, both within and between paragraphs, to keep a sense of cohesion and linkage. Your paragraphs should be balanced â€" keep to the rule of no less than 3 sentences per paragraph. Issue â€" where you outline the specific issues that are relevant to your essay. This must be submitted on a separate page at the back of your essay. It must be formatted appropriately and be in alphabetical order. The list should not be included in the word count unless you are instructed to do so by your lecturer as an exception to the rule. It should sum up the arguments of the whole text. If you experience difficulty in writing your conclusion, you can always talk to a HELPS Advisor or one of our volunteers. They’re always ready to help you if you need assistance at any stage of the writing process. This is where you assemble the evidence of your research and thinking and put forth your arguments. Try to demonstrate to the lecturer that you have an opinion on the subject. Do the same thing for all the points that need academic references to support them. Read the abstract and ask yourself if the content of the article is likely to be relevant to your essay. It is very important to make your voice transparent throughout your writing. In most instances, your points should be supported by some form of evidence from your readings or examples drawn from the subject area. You should comment on the implication, significance or impact and finish off the paragraph with a critical deduction that you have drawn from the evidence. It makes a general statement about the issue, topic or area under discussion. academic writing, pronunciation and presentation courses. All the videos have captions that you can view on YouTube. It demonstrates what ideas or information you have referred to from someone’s research as distinct from your own. Another option is to use an internet academic search engine such as Google Scholar. N.B. Make sure you are logged in to the library at your educational institution, so that you can use the full database capacities linked to Google Scholar. View the video, then try the essay exercises to test your knowledge! Watch the whole story, or see sections of the story below.

Essay Structure

Essay Structure These decisions are made by looking at the context of each word, phrase and sentence. Depending on the context, the software behind this tool might make very different interpretations about what is the best way to rewrite your content. The right essay editor or guide is someone who knows something about you but isn’t your best friend or parent, and someone who you know can push you on storytelling and language. It’s best not to hand your essay to every person who comes your way, no matter how many smart teachers, friends, and peers you have at your disposal. Too much feedback can confuse your sense of mission. William Zinsser’s On Writing Well is the primer for nonfiction writing basics. Does she not realize that she's embarrassing herself? This website is using a security service to protect itself from online attacks. The service requires full JavaScript support in order to view the website. The service requires full cookie support in order to view the website. We do not offer refunds, however, delivery and accompanying benefits will continue for the remainder of the current billing period. This paraphraser will accomplish all of this work for you in a matter of seconds. Based on the most likely meaning of your word or phrase, depending on the context, it will suggest a new way to express that word or phrase. Paraphrasing-Tool uses intelligent, decision making software to figure out the most appropriate way to reword your text. You may cancel by emailing or, you may notify us of your intent to cancel at any time by emailing I remember stating that the session was 'one-off', but tbh im open to you getting back to me a few more times, if you would like to check if you got better / got it right. The Essay Writing competition is open to all students presently enrolled inany undergraduate level coursein India. Conclusively it would be best if you kept in mind that when you are in a hurry, many things can go wrong. It is advisable to resist the urge to copy and paste even if you are running out of time. If you already know of a way to express your idea, then this free tool will present you with a new way to state this idea within seconds. Paraphrasing Tool is very similar to an online, automated thesaurus, only much more powerful and efficient. Seeking professional help is always a viable option when working with a tight deadline. It helps eliminate all the chances of making errors and getting a poor grade. If you are getting hung up on the initial, creative part of your writing process, then you may utilize Paraphrasing-Tool to jump-start this process. However to get good grades it is imperative for you to be Any professor or any teacher would not want to read an essay that is poorly constructed with poor grammar. Once, she agonized so much over an American history paper about how the Great Depression ended that she rejected the job at the last minute, and had to pay an $18 fine. Bret Hovell, a spokesman for Arizona State University, said the school was not able to determine whether the essay had been turned in. Mr. Loller said he had worked with some colleges that have students who have never shown up for class or completed a single assignment. Selection of the best essay will be taken up at two levels. Mention of the authors name/emails, etc. anywhere in the body of the essay will lead to disqualification. The participant must be the same person who has written the write-up and plagiarism would not be accepted. Your writing style should be beautiful and clear enough for the readers to understand and love. Strunk & White’s Elements of Style is a very slim volume that will help you ensure you’ve dotted all your i’s and crossed all your t’s when it comes to grammar and syntax rules. Loyalty to a team, to an establishment, to other peopleâ€"even to oneself. Sitting in that bar over the last year, I feel like I’ve glimpsed them all. As a Boston-born girl, my loyalty to the Patriots seems naturalâ€"even if it’s not so common for a teenage Indian-American-Californian girl to be as much of a sports junkie as I am. But I’ve seen that loyalty tested plenty of times. “We do not condone, encourage or knowingly take part in plagiarism or any other acts of academic fraud,” it said. Less attention has been paid to the tricks some well-off students use to skate by once they are enrolled.

How To Write A Perfect Essay

How To Write A Perfect Essay At EssayPro, we employ a large team of skilled writers. Their rating is based on previous customer reviews and rates. I figured out how to not only write a great essay, I learned how to have fun while doing it. I know personally how boring writing an essay can be, and also, how hard it can be to write a good one. Honestly, throughout most of high school and college, I was a mediocre essay writer. Following body paragraphs These follow the same structure for as many arguments as you wish to put forward in support of the topic. Examples of this type of essay include questions which ask you to take a position on a topic, such as a particular decision or policy, and present arguments which support your position. Click the button on the main page and follow our simple instructions. We bet there is nothing easier than hiring writers at EssayPro. Our top writers are designated to complete full courses. This is the best way to get through your course with the least amount of effort. View a text description of the writing an essay time management 'cake'. This means that our clients can have college papers done in moments or 2 weeks, regardless of the number of pages. We have an absolutely outstanding plagiarism checker, which all of our writers are obliged to use. What’s more, our Quality Assurance Team checks every page of content before it is sent to you. An effective way to argue a point can be to present the opposing view first then counter this view with stronger evidence. Essays are used as assessment at University to demonstrate your knowledge and understanding of a topic. They are also useful tools to promote thinking and learning. You are required to develop an argument and apply critical thinking skills to analyse a range of academic sources in support of your argument. The QUT cite|write booklet contains information on critical thinking. Before you hire a writer, you can familiarize yourself with his track record in detail. As you research your essay topic, search for this story of surprise, and don’t start writing until you can find it. However, toward the end of my time as a student, I made a breakthrough. When it comes to learning how to write better, MyEssayWriter.net is that company. The writers there are skillful, humble, passionate, teaching and tutoring from personal experience, and exited to show you the way. What they teach you will help you improve your grades. Our company was started by an award-winning journalist who saw the need from students to have someone take care of their annoying assignments for them. Let’s face it, school is a nuisance, so when you are calling out to the sky write my essay for me! Are you unhappy with your completed paper order? Unsatisfied clients are entitled to free reviews and rewrites up to 30 days. Every complaint will be considered and acted upon. We only want what’s best for our customer's well-being. Satisfaction is taken very seriously with our paper writing service. Here at EssayPro, we offer a service guarantee when you buy an essay. Just keep an easy attitude to your assignment if you order it at EssayPro. We tried our best to create an effortless hiring process.

Introduction To The Gre Issue Task

Introduction To The Gre Issue Task The first statement tells the marker nothing about what the student has taken learned from the module. The statement it makes only partially relates to the module, and it is not original â€" many students will write something similar. Ask your teacher, your parents, and those in your study group. Feedback is a great way to get a second opinion on your work and argument. Now that we’ve looked at the basics of how to write an essay, we need to consider the exam essay. It’s one thing to take your time crafting an essay over a couple of hours or days, but an entirely different experience to write one in under 40 minutes. It’s now time to see what that involves and how it differs from the process above. In the last part of our Guide, we looked at how essays work and discussed the structure and planning of an essay. If you haven’t read it, you should go check that out first. In this part, we’ll get into the nitty-gritty of writing the essay and give you some tips for producing Band 6 responses in exam conditions. The Introduction sets the scene for the essay and gives the reader a clear idea of what they can expect. A good introduction briefly introduces the topic and gives signposts to the main points that the essay will address. We obtain a full pack of anti-virus, anti-spam and anti-spy programs for you not to be worried about the security of the device through which you receive our ready projects. With our team of professionals you may forget about those long sleepless nights spent in seek of an idea for an essay! Often your argument will change over the course of the essay, and you’ll need to alter your intro accordingly. This is like doing your introduction all over again, but with slightly nicer words. Once you’ve clarified all the terms, you can start to put together your arguments and write the essay. You won’t remember any of it, it will drain all of your energy, and you only get one reference and viewpoint out of it. Your initial writing attempts won’t be your final draft so don’t get too caught up in producing a final piece of work at this point. You will be asked to write an essay based on content you have learnt in class. Once you know exactly what the question is asking of you, do a quick brainstorm to map what you already know about the topic and what you need to find out. They’ll mess up your sleep pattern, you’ll ruin your entire next day, and you’ll likely produce work that a 5-year old would be quick to disown. Just think about it â€" how many great things you could do instead of boring writing. How much money you could earn while your paper work is being done by someone, who knows how to do it properly! Remember, your conclusion needs to recap your ideas and thesis. You also need to leave a lasting impression on your reader. Conclusion are actually these easiest part of the essay to write. Explain why the example supports your argument â€" this links it back to your topic sentence and thesis(the L part of a T.E.E.L Structure). The topic sentence â€" You use this to introduce the subject matter of the essay and locate it in the logic of your argument. With our essay help you may be sure nobody shall have a better mark for the work than you. We understand you have a wide range of websites to choose, but the next points are to assure you that there is no site better than ours. Our team keeps the highest quality standards preparing any kind of order starting with the essay help and finishing with the dissertation help. You may be sure we provide all our customers with a 100% quality material. Good essays are presented in a clear and logical format. Unlike reports, essays do not include headings so the links between paragraphs should be clear for the reader. Once you are familiar with these sections, brainstorm and map out key points that you will cover in each section. Once you have a fair idea about your essay topic, start writing up your essay. In our turn, dealing with us means you get your dissertation writing services without a fear that you do something illegal. One should not underestimate the level of threat contagious sites bear. A single file downloaded along with your essay help may turn your hardware into a complete mess, and everyone knows how expensive the services of a programmer cost nowadays.

Essay Writer

Essay Writer Your introduction should not be too detailed, but it should provide just enough information to get the audience acquainted with the topic. cheap essay writing service that knows how to make every essay shine. Here is our complete guide on discursive essay writing. When you are hearing about an upcoming discursive essay assignment for the first time, your first reaction is probably confusion. If you have never dealt with discursive writing before, you may have no idea what it actually is and how to write a discursive essay at all. We spoke to experts to get some simple techniques that will raise your writing game. The information presented here have been collected and worked through by professional essay writers, college professors, and people dedicated to human resources during many years. Our purpose was to collect practical information from people with considerable writing experience. We believe that the best knowledge you get, you get through experience. So this is the place where we share with you our experience and hope to help you in your work. A good idea is to use a hook as the first sentence of the introduction. Then you need to provide a brief overview of the problem, as well as the sides of the argument you want to discuss further. The discursive essay introduction is the part of your essay that sets the tone and prepares the readers for the content of your paper. The service would be especially useful for international students. Coming to the US to study from abroad, the workload might come as a bit of a shock. Better focus on the most enjoyable things a college has to offer. For all the chores and routine out there, professional college ghostwriters offer help. Delegate every unwelcomed assignment to a degree-holding academic author. When the deadline comes, submit your article and call it a day. We guarantee zero plagiarism and individual approach to your task. Tim Squirrell is a PhD student at the University of Edinburgh, and is teaching for the first time this year. s the government begins its crackdown on essay mill websites, it’s easy to see just how much pressure students are under to get top grades for their coursework these days. But writing a high-scoring paper doesn’t need to be complicated. What you instruct in order specifications will be fulfilled in your texts hands down. Top grades and more free time in the evening are what you receive. You also shouldn’t express your personal opinion anywhere except for the conclusion. So how to start a discursive essay introduction the right way? Whether your purpose is to get better grades at school or just to enjoy the writing process Essay Info will lead you to your goal. It is intended mainly for college students and useful for those of you, who strive to write more clearly, gracefully, and efficiently. We are not limited to the information about the basics of academic writing. We hope you find the information on this web site useful and notice an improvement in your writing very soon. Essay Info is for anyone who wants to improve the writing skills. But don’t worry â€" a relevant writer with expertise in your subject will deliver the texts on time. A professional writer service will help you fit in the tightest schedule hassle-free. We bring to your attention hints on effective resume and cover letter writing, making a presentation in class and at work. At Essay Info you can find quick tips for making any writing assignment sound great. If you just plan to enroll to college, Essay Info will provide you all information you need on financial aid and finding money for your college education. PowerPoint presentations included in this unit are color-coded, engaging, and filled good and bad examples to help your students improve their writing today.

Tips For Writing Essays

Tips For Writing Essays Regardless of how old we are, we never stop learning. Classroom is the educational resource for people of all ages. Whether you’re studying times tables or applying to college, Classroom has the answers. We also participate in other affiliate advertising programs for products and services we believe in. Learning a new language is certainly an ambitious task. Here are a few dos and don’ts in summary of this article. It is not your stories that get you into college, but how they have affected your character and your thinking. You should strive to portray yourself in the best possible light and keep your essay focused on answering the prompt. Amazon and the Amazon logo are trademarks of Amazon.com, Inc, or its affiliates. There are so many small details to learn, and the process takes a lot of time and commitment. Once you and your friend have both reviewed your essay and marked any mistakes, rewrite the whole thing. Just noting that you made some mistakes will not help you learn how to avoid them in the future. Print a copy of the essay, and use a pen to go through and correct any grammar or mechanical errors that you find. Read back through your essay and make sure that all of your examples prove your point adequately. You can change your setting at any time - read more in our Cookie Policy section. The services we provide are not prohibited by any colleges or universities and are LEGAL. Don’t quote too much; mix citations with your own opinions so that it doesn’t look as though you have to hide behind other people’s words. It’s fine to disagree with a scholar you quote, provided you can give evidence and reasoning for doing so. Have a friend read your essay and ask her what she thinks could be explained more clearly. Remember that a short essay should have all of the same components as a larger essay, but in less space. Try to include all of the necessary introspection and not present too many different points. It is better to have one or two well-articulated and supported points than many good points that are poorly supported. Pick a topic for which you have enough room to elaborate. Be sure that your essay meets the word and page length requirement of the prompt. These points should prove useful in guiding you through composing a short essay. Using quotes makes a paragraph longer than not doing so. Of course, if you have been set a relatively short word limit, you may not be able to go in-depth at all, in which case a paragraph for each of the main sub-topics will likely be adequate. Cookie Policy We use cookies to improve your browsing experience on our website. By staying at WiseEssays.com, you agree to our Cookie Policy. Read widely, and refer to a dictionary for words you don’t know as you go along; this way, you’ll learn the new word as well as seeing it in context so you know how to use it properly. Read different genres of fiction, and non-fiction covering a range of topics, and you’ll have the added bonus of widening your general knowledge as well as your vocabulary. Based in Halifax, Nova Scotia, Jordan Whitehouse has been writing on food and drink, small business, and community development since 2004. His work has appeared in a wide range of online and print publications across Canada, including Atlantic Business Magazine, The Grid and Halifax Magazine. Whitehouse studied English literature and psychology at Queen's University, and book and magazine publishing at Centennial College. Secondly, I would decide a paper length on the basis of the grading rubric. It also depends on whether or not you are bringing outside information into the paragraph as well.

Examples Of Great Introductory Paragraphs

Examples Of Great Introductory Paragraphs Be careful not to deviate from your thesis statement. If you need more help to compose your essay, then you can try using English writing software. Note that the first sentence of the paragraph may satisfy both goals. That is, you may have a topic sentence that also serves to transition well. Another option is to have a transition sentence first and then a separate topic sentence following it. Make sure your thesis statement is clear, specific, declarative, and on-topic. Some people have all the right ideas, but they find it hard to write these ideas down. If you have this problem, then software for English writing may work for you. Based on your topic, write down the thesis statement that your entire essay will revolve around. Then proceed to write your outline, which will lay down the flow of discussion. A team of vetted degree-holders and professional essay writers is here for you. College is a time when broke kids survive on ramen noodles, so how likely is it for them to be able to pay some premium price for writing services? It should usually be the first sentence of the paragraph, though in some cases it is appropriate to be the second sentence. A transition sentence is a sentence that helps link the points of each paragraph together by making a smooth transition from the previous paragraph. It can be done in the first sentence of the new paragraph or the last sentence of the previous one. A good way to tie all the points together throughout the body section is to have them all clearly state how they support the thesis statement. That way it is obvious that all of your paragraphs tie together. Undergraduate and graduate level â€" At BoomEssays.com, we provide help with assignments, regardless of the level you are studying at. We know that all students require assistance, no matter if they are undergraduates or graduates. Our professional writers are extensively trained and experienced, and we will assign a person with the appropriate level of expertise for your specific school assignment. We want you to have the best experience and earn an excellent grade thanks to our aid. You should be able to provide the thesis statement in one or two sentences for a fairly short paper (about 1-8 pages). It is usually best stated at the end of your introduction section . Using your outline as a guide, you should start composing the main body of your essay. A great way is to discuss the issue with your instructor or teaching assistant. You can even try talking about it to a friend or family member. Each paragraph in the body section should have a topic sentence and, perhaps, a transition sentence. The topic sentence is the particular point you are trying to make in the paragraph. As a student, you will find that it is essential to master the skill of writing well-reasoned, articulate, and well-presented essays. Essay Punch takes users through the process of writing an essay. From pre-set writing prompts users learn to develop an idea and write their descriptive, informative and persuasive essays. As students advance, to improve essay writing skills they need in-depth support. Our team have been working in academic writing for a very long time. Writers at BoomEssays.com perfecting their skills so that they can provide the best services. It is by reading other writers, that we develop our own ideas and unique style. Discover how your own writing can progress and grow through gaining an insight into other writers’ minds and lives. At Summer Boarding Courses, we recommend you take the time to work through the format for essay writing step-by-step. They need to organize their thoughts and learn to clearly communicate their ideas in writing. Not the least important thing in provision of the dissertation services is the experience of our employees in this field. Our company knows how to provide essay help for business and academia because we have been doing it for years. Just try to buy essays online and let us show you how a perfectly written paper looks like.

How Many Paragraphs Is 1,000 Words?

How Many Paragraphs Is 1,000 Words? The boss stayed up all night, bidding for work on several sites, and then farmed it out in the morning. Some of the websites operate like eBay, with buyers and sellers bidding on specific assignments. Others operate like Uber, pairing desperate students with available writers. Either way, the identities and locations of both the writers and the students are masked from view, as are the colleges the assignments are for. A screen shot of EssayShark’s homepage, advertising essay writing services. Essay writers and professionals have years of experience and training, and they provide submissions that are devoid of errors and mistakes. For a student who is reliant on a degree for career advancement, these services can make the journey easier and fruitful. As a student, it is easier to pay someone to do my essay and use that resource to enhance my academic learning and growth. Your essay can draw on whatever moves you, regardless of when the anecdote, event, or inciting incident you’re writing about occurred. Often students want to know how to handle feedback they may disagree with. Josh did some writing about his relationship with his sister and his brother, and that might find a home in the secondary essays. But it became clear that Josh has an obsessive, if not always positive, relationship with piano, and so there’s something there. Some connection between your past, your present, and your future. Assignments and essays constitute a substantial part of the final grade, and these submissions have a definitive impact on one’s GPA. Academic and essay writers can be hired for a nominal fee, and this is negotiable based on your essay requirements and instructions. If you’re wondering how much does Edubirdie cost, it depends entirely on the level of research and expertise required for the task. A government loan and aunts and uncles helped her pay for college. But she also worked, landing in an office of 10 writers completing other people’s assignments, including those of American students. Higher education degrees, particularly research-oriented courses, can be overwhelmingly burdensome. Students who are juggling jobs and professional responsibilities find it immensely challenging to fulfill their responsibilities on the academic front. You may not be thrilled at the prospect of spending the summer before your senior year on college applications. But getting going in June after your junior year and committing to a few exercises over the summer will be like spring training for summer athletes. You always want to arrange essays in a way that clearly presents the main idea and provides vivid images. It’s common to see a student choose an important experience in their past, narrate the whole thing beautifully, but then forget to tie it to the present. Before you even start writing, think about whether your potential topic is influencing the way you think about the present, and, crucially, the future. He writes beautifully about his grandfather teaching him about the waves, but he’s not a pro surfer, and might even be going to college in the middle of the country. Not as long as he tells us how surfing influences himâ€"as he did in extracting a wider lesson. The ability to pay for essays and academic reports allows them to lessen their burdens and fulfill their academic responsibilities diligently. The fear of submissions and essays is as real and challenging as it gets. Many students suffer from anxiety and stress caused by overwhelming coursework and written submissions that they find difficult. Not all students can express themselves in classroom settings, and those who get anxious and stressed are the ones who suffer. An essay is a means by which one is able to build a rational argument and defend that argument in writing. Within and beyond Academia, it is a means of improving one's research and communication skills. This is the lazy way out and it comes with a steep price. Today, there are numerous tools and resources in place to check the level of authenticity in a piece of writing. Duplicating will not only disqualify you as a writer, it will also sabotage the future you are aspiring to build for yourself. Students seek out opportunities to ‘pay someone to do my essay’ for a myriad of reasons. Some seek the convenience and affordability of hiring professionals to enhance their academic performance. Others do not have the time to juggle with academic and professional responsibilities, but they rely on academic growth for career advancement. One option for adding imagery is through quotations from other literary works. Epithets, metaphors, hyperboles are at your service!

Why Is Essay Writing Very Useful For Students?

Why Is Essay Writing Very Useful For Students? I bet some people become dentists just to avoid having to write essays. Essays and research papers can invoke massive amounts of stress and anxiety. But no matter what classes you take in high school or college, you’re going to have to write an essay at some point. Whether you love or hate them, following these nine steps can improve your essays, reduce your stress, and possibly save you from an expensive dentist degree. hook readers, tell about the topic and its importance, and, therefore, persuade them to continue reading. A whole range of twenty possible argument essay titles. Students can take one title and write 250+ words using a similar structure to the essays above. Vocabulary is a major challenge for every non-native writer. But while the purpose of most introductions is to introduce the thesis, a critical essay introduction is more complicated. At this stage, you’ll have arguments and evidence to evaluate in essay paragraphs. Decide on the evidence that would support your thesis statement best. 2) Sit back and look at your diagram, perhaps alongside your notes, and work out the main ‘point’ or conclusion you want to make in your essay. The best essays are characterised by a clear line of argument throughout â€" I don’t really buy the idea that essays should present both sides of a question. This helps you form opinions on various social, political as well as technological topics. The above sections covered tips on how to write an essay. I could reach the writer whenever I needed to do this. It was really essential for me to control the situation. It wasn’t a problem for the writer to understand to this fact. As a reliable essay writing website, we never take customers’ money if they are not satisfied with the provided content. You have a right to request a refund at any stage of a writing process. If we fail to deliver a high-quality paper that meets your instructions, then you can have your payment back. Even if your teacher does prescribe reading, it’s always worth seeing whether you can find something extra that will add breadth, depth or a fresh perspective to your argument. However, it’s important to think carefully about whether a source is reliable and valuable. The good news, on the other hand, is that the individual skills required to write a strong essay are things you can learn, practise and improve in. I always decide what I’m trying to say; the point I want to conclude with, before I start. Now, the job you’ve got in writing the essay is to set this conclusion up. This article is all about pinpointing what those skills might be, and giving you some suggestions as to how you might develop them. In general, the further you progress through your education, the more rote learning will be replaced by the kind of analysis usually best demonstrated by essays. One way or another, essay writing comes to us all. I’ve been in a very difficult situation with my paper. My writer pleasantly let me to look at drafts and accepted all my remarks. However, it does not cover tips on how to improve your essay writing skills. Here are some tips on how to improve your essay-writing skills. The body section could be divided into 2-3 paragraphs or sometimes, even more, depending on the need of the topic. Every paragraph contains an opening statement which describes the writer’s point of view about the area of study. A limited vocabulary affects the effectivity of essay greatly. The best way to improve your vocabulary is to note down words along with synonyms while reading. Target to learn at least 10 new words daily and use them in your essays as well as day to day communication. Reading is the best way to improve your knowledge about any topic. To prepare yourself for an essay writing task, read as much as you can on a variety of topics.

How To Write The Perfect Essay

How To Write The Perfect Essay Do not simply present evidence, but analyse it at each stage, always relating it back to your assignment question. Provide an overview of some of the main points, or direction, of the essay. Respond directly to the essay question and clearly state what your essay intends to achieve. Always check the assignment criteria and other information in your unit site for specific requirements. Poor spelling, reasonably or not, gives the impression of carelessness and laziness. Since your essay will be processed electronically, use the spell checker! But don’t rely on it exclusivelyâ€"proofread your essay carefully as well. You may feel that a diagram could help illustrate a point. This has the added effect of breaking up large chunks of text that can be subconsciously off-putting to the reader. You must be ruthless and exclude ideas that don't fit in seamlessly with your essay's focus. 'You may have to approach the lecturer who devised the essay to understand what precisely is being asked and the complexity of the response expected from you,' advises Michael. Generally speaking a reference list must accompany your essay. This must be submitted on a separate page at the back of your essay. Proper grammar is difficult for even the most fluent English speakers. Because you are learning English, you actually have an advantage. Many native speakers learned improper grammar from the start. It’s difficult to undo the damage caused by a lifetime of writing improperly. Proofread your essay and make sure it follows any formatting requirements required by the unit. Expand on each bullet point to build paragraphs based on evidence, which will also require with citations. It is important to begin writing as soon as soon as possible â€" think of writing as a process rather than a goal. Linking words clarify for the reader how one point relates to another. An essay flows cohesively when ideas and information relate to each other smoothly and logically. You may return to discuss the background/context of the topic, if relevant. Tell your reader how your essay has successfully responded to the essay question. Conclusions are primarily for summing up what you have presented in the body of your essay. No new information is presented in the conclusion. Use synonyms and paraphrasing so that you do not repeat all your main points word for word. Consider how you conclude your paragraph and how you might link it to the following paragraph. Integrate evidence and examples into your paragraph from your readings to support your point. You can also get further advice from a Writing Mentor or a Language and Learning Adviser. Areference list or bibliography â€" formatted according to your referencing style â€" on a separate page at the end of your essay is also usually required. Normally this is not included in the word count, but check with your lecturer or tutor to be sure. 2) report writing, which focuses primarily on reporting facts and making recommendations. Unless you are told otherwise by the course instructor, use the Departmental conventions. You should only use a quotation when you are unable to say something better, not just because you can’t be bothered to summarize a point of view! For example, if an author has summed up their argument in one pithy phrase, then it might be worth repeating. But beware the added complexities involved in formatting your document or the added time required to add a diagram by hand. Some versions of the software available on public machines produce graphics that cannot be printed from other machines. Give yourself time to test for potential glitches of this sort. Although there is no strict convention on layout, do consider how the essay looks on the page. Several studies have shown that presentation does have a subconscious effect on markers, even when they’re not explicitly marking on that criterion. Plans should have the flexibility to change as your work develops, but remember to ensure that any adjustments are consistent across the essay. Once you've done your research, create another mind map. Carefully note the key theories, information and quotes that will help you to answer all components of the question. Consider grouping these into three or four main themes, including only the most significant points.

Essay Writing Service From Top

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Essay Writing Service From Top

Essay Writing Service From Top This is why countless students come to us time and time again, asking to write my essay. Enjoy free time until we finish doing your paper. We do Master’s and Ph.D. level dissertations just as we do essays and other research papers. Many senior year students rely on our site to help them with dissertations. We make sure drafts live up to the supervisor’s instructions, offer factual findings, and are proofread properly. We try to offer as high rates as possible to our writers to create an atmosphere of appreciation and fair reward. We also try to provide you with custom papers at affordable prices to make sure you can afford our essay writing service help. We take great care of both you, our customer, and writers. Our essay writing service and essay editing service are available to students who are looking for help with anything from term papers to academic theses. We even help with online exams and math problems. Each essay writer on our team is capable of completing assignments from high school essays to PhD dissertations. Furthermore, we will write an essay for you that is representative of the key concepts within your field. ” Rely on our company anytime you need a quality, well-written academic composition done for you at an affordable price. Save your money and time together with the industry-dealing paper writers. Enjoy positive marks for custom essays brought to you by the No.1 essay writing service - Essay Company. I have included a reference page at the end of my essay, listing full details of all my sources. I don’t introduce new arguments or evidence in the conclusion. This resistance was symptomatic of the prevalent attitude that the blind population had to adapt to the sighted world rather than develop their own tools and methods. The idea of tactile reading was not entirely new; Louis Braille adapted and simplified existing methods to create the first writing system specifically for blind people. Before writing an essay, make up your mind to keep it simple worth-reading otherwise it will not pay off academically. An essay consists of an introduction, body and conclusion so make sure that you have a precise strategy for every part of your essay. EssayService attracts and employs the best and fastest essay writers online. Every writer in our team is highly educated, experienced, attentive to detail, and dedicated to delivering only quality pieces and always on time. So if you need a professional paper writer, our academic writing service is proud to offer you a selection of the very best. We are confident that our writers will deliver the best results. In terms of thesis writing, we offer absolutely new papers on a turn-key basis, as well as proofread and edit already written projects. Whatever help you need, our writers are always there to lend a hand. There are lots of academic challenges in a student life and the prominent one is to deal with an essay writing task. Being a responsible student, you should ensure that you have a precise strategy to ace it. The foremost thing is to trust your abilities to produce a quality work and it will lead you to end up with a quality essay. Having an outstanding writing ability is also essential for you hence you should think of improving your writing skills as it also helps you to write quality essays. We believe this process will be important for you in boosting your grades and developing confidence in academic writing. You have probably spent many nights awake, worried about finishing those nagging essays. Well, your problems are solved with our essay writing service. Each writer on our team are among the Internet’s best, and they have only helped achieved top results. The essays are model essays, designed to look like the way a student would write. Feel free to use the material and revise it in a way that is yours. The essays are original and custom-made to fit your topic, specifically.

Writing Tips « Writers Workshop

Writing Tips « Writers Workshop Learn the do's and don'ts of how to write a powerful opening line that pulls your reader in from the very first word. Freewriting is the key to an amazing college application essay - especially the first draft! This is an important activity that helps in shaping your brain to think in English. As the communication in English increases in the day to day life, the brain automatically starts thinking in English rather than our local language. The ability to think in English allows organizing your thoughts and getting new ideas faster. Popularity this ability is described as “Think English, Talk English, Write English”. In addition to summarizing your body, one could also provide suggestions or actions that could be taken in a particular situation. The actions are an indication that you have understood the topic well and understand the actions that could be taken in the presented scenario. There are occasions when the types might get mixed up. However, the structure of the essay usually helps you pen down a self-explanatory piece of content. Writing an effective essay is an art that can be mastered only by practice and feedback. There are several points which affect the affectivity of your essay. She’ll break this prompt down into its basic building blocks and offer some insider tricks and strategies for tackling prompt 4. The directions below are representative of what students will encounter on test day. Reading your essay allows your lecturer to assess the degree to which you have engaged with learning and transformed information into knowledge. It encourages you to develop a formal, disciplined approach to writing that communicates clearly and with authority. It allows you to practise and develop transferable skills that are valuable to you not only while you’re a student but also when you graduate and have to write in a professional role. Are you planning to apply to Northwestern University? Your personal statement should tell a memorable story that admissions officers just can't shake. Your closing line is your final shot to make a lasting impression before your college fate is sealed! The experts at College Essay Advisors have lined up their most essential tips for writing a killer closing line. The personal statement is a crucial part of your college application, but it won't help you if it bores admissions officers to tears! Every sentence, except the first, should contain connecting words to form a coherence in the paragraph. To display a range of vocabulary in your essay, ideally, try to use synonyms of the words wherever possible. It is also useful to use a variety of words to describe or convey our point. For instance, to convey disagreement one can use ‘I disagree’, ‘I am not in the favor of’, ‘I do not agree’, ‘I believe otherwise’. This would leave an impression of a native speaker communicating without the lack of vocabulary. A simple sentence contains lesser use of conjunctions. The idle word limit for a simple sentence is words. Submitting assignments and tasks after due date causes a wrong impression on your instructor; taking care of your grades, we are keen on delivering the tasks on time. someone who can handle their “write my essay” query for them. Our fundamental objective is to give every client a chance to coordinate with an essayist who is a specialist in a circle a client shows in the request’s subtle elements. This guarantees the essayist thoroughly comprehends what they should expound on and how to do it right. Brilliant, original, and plagiary free compositions delivered to students within the deadline provided. The support team is always there 24/7 to assist you, feel free to contact and ask your queries. Writers here are committed to delivering quality work taking into account your timeline. Fill up you blank page with these tips for getting started on your way to personal statement success. The Common Application's fourth essay prompt asks you to put your problem-solving skills on display. But how do you transform a conundrum into a compelling story? Get the lowdown from College Essay Advisors Founder and admissions expert, Stacey Brook.

Writing Tips « Writers Workshop

Writing Tips « Writers Workshop Learn the do's and don'ts of how to write a powerful opening line that pulls your reader in from the very first word. Freewriting is the key to an amazing college application essay - especially the first draft! This is an important activity that helps in shaping your brain to think in English. As the communication in English increases in the day to day life, the brain automatically starts thinking in English rather than our local language. The ability to think in English allows organizing your thoughts and getting new ideas faster. Popularity this ability is described as “Think English, Talk English, Write English”. In addition to summarizing your body, one could also provide suggestions or actions that could be taken in a particular situation. The actions are an indication that you have understood the topic well and understand the actions that could be taken in the presented scenario. There are occasions when the types might get mixed up. However, the structure of the essay usually helps you pen down a self-explanatory piece of content. Writing an effective essay is an art that can be mastered only by practice and feedback. There are several points which affect the affectivity of your essay. She’ll break this prompt down into its basic building blocks and offer some insider tricks and strategies for tackling prompt 4. The directions below are representative of what students will encounter on test day. Reading your essay allows your lecturer to assess the degree to which you have engaged with learning and transformed information into knowledge. It encourages you to develop a formal, disciplined approach to writing that communicates clearly and with authority. It allows you to practise and develop transferable skills that are valuable to you not only while you’re a student but also when you graduate and have to write in a professional role. Are you planning to apply to Northwestern University? Your personal statement should tell a memorable story that admissions officers just can't shake. Your closing line is your final shot to make a lasting impression before your college fate is sealed! The experts at College Essay Advisors have lined up their most essential tips for writing a killer closing line. The personal statement is a crucial part of your college application, but it won't help you if it bores admissions officers to tears! Every sentence, except the first, should contain connecting words to form a coherence in the paragraph. To display a range of vocabulary in your essay, ideally, try to use synonyms of the words wherever possible. It is also useful to use a variety of words to describe or convey our point. For instance, to convey disagreement one can use ‘I disagree’, ‘I am not in the favor of’, ‘I do not agree’, ‘I believe otherwise’. This would leave an impression of a native speaker communicating without the lack of vocabulary. A simple sentence contains lesser use of conjunctions. The idle word limit for a simple sentence is words. Submitting assignments and tasks after due date causes a wrong impression on your instructor; taking care of your grades, we are keen on delivering the tasks on time. someone who can handle their “write my essay” query for them. Our fundamental objective is to give every client a chance to coordinate with an essayist who is a specialist in a circle a client shows in the request’s subtle elements. This guarantees the essayist thoroughly comprehends what they should expound on and how to do it right. Brilliant, original, and plagiary free compositions delivered to students within the deadline provided. The support team is always there 24/7 to assist you, feel free to contact and ask your queries. Writers here are committed to delivering quality work taking into account your timeline. Fill up you blank page with these tips for getting started on your way to personal statement success. The Common Application's fourth essay prompt asks you to put your problem-solving skills on display. But how do you transform a conundrum into a compelling story? Get the lowdown from College Essay Advisors Founder and admissions expert, Stacey Brook.

Financial Market Essay Example Pdf - Free Essay Example

A commercial bank is a type of financial intermediary and a type of bank. After the Great Depression, the U.S. Congress required banks only engage in banking activities, whereas investment banks were limited to capital market activities. Since the two no longer have to be under separate ownership, some use the term commercial bank to refer to a bank or a division of a bank primarily dealing with deposits and loans from corporations or large businesses. Commercial bank is the term used for a normal bank to distinguish it from an investment bank. This is what people normally call a bank. The term commercial was used to distinguish it from an investment bank. Since the two types of banks no longer have to be separate companies, some have used the term commercial bank to refer to banks which focus mainly on companies. In some English-speaking countries outside North America, the term trading bank was and is used to denote a commercial bank. During the great depression and after the stock market crash of 1929, the U.S. Congress passed the Glass-Steagall Act 1930 (Khambata,1996) requiring that commercial banks only engage in banking activities (accepting deposits and making loans, as well as other fee based services), whereas investment banks were limited to capital markets activities. This separation is no longer mandatory. It raises funds by collecting deposits from businesses and consumers via checkable deposits, savings deposits, and time (or term) deposits. It makes loans to businesses and consumers. It also buys corporate bonds and government bonds. Its primary liabilities are deposits and primary assets are loans and bonds. 10 Commercial banking can also refer to a bank or a division of a bank that mostly deals with deposits and loans from corporations or large businesses, as opposed to normal individual members of the public (retail banking). Origin: The name bank derives from the Italian word banco desk/bench, used during the Renaissance by Florentine bankers, who used to make their transactions above a desk covered by a green tablecloth (de Albuquerque, Martim, 1855). However, there are traces of banking activity even in ancient times. In fact, the word traces its origins back to the Ancient Roman Empire, where moneylenders would set up their stalls in the middle of enclosed courtyards called macella on a long bench called a bancu, from which the words banco and bank are derived. As a moneychanger, the merchant at the bancu did not so much invest money as merely convert the foreign currency into the only legal tender in Rome- that of the Imperial Mint (Matyszak and Philip, 2007). In the most basic terms, commercial banks take deposits from individual and institutional customers, which they then use to extend credit to other customers. They make money by earning more in interest from borrowers than they pay in interest to those whose deposits they accept. Theyre different from investment banks and brokerages in that those kind s of institutions focus on underwriting, selling, and trading corporate and municipal securities. The Balance Sheet: A banks balance sheet is different from that of a typical company. You wont find inventory, accounts receivable, or accounts payable. Instead, under assets, youll see mostly loans and investments, and on the liabilities side, youll see deposits and borrowings. Loans represent the majority of a banks assets (Saunders and Cornett, 2005). A bank can typically earn a higher interest rate on loans than on securities, roughly 6%-8%. Loans, however, come with risk. If the bank makes bad loans to consumers or businesses, the bank will take a hit when those loans arent repaid. Because loans are a banks bread and butter, its critical to understand a banks book of loans. Other assets, including property 11 and equipment, represent only a small fraction of assets. A bank can generate large revenues with very few hard assets. Compare this to some other companies, where plant , property, and equipment (PPE) is a major asset. Surprisingly, cash represents only about 2% of assets. Thats because the bank wants to put its money to work earning interest. If the bank simply sticks its cash in a vault and forgets about it, it will have a hard time making a profit. Thus, a bank keeps most of its money tied up in loans and investments, which are called earning assets in bank-speak because they earn interest. Banks dont like putting their assets into fixed-income securities, because the yield isnt that great. However, investment-grade securities are liquid, and they have higher yields than cash, so its always prudent for a bank to keep securities on hand in case they need to free up some liquidity. Assessing Assets: A banks assets are its meal ticket, so its critical for investors to understand how its assets are invested, how much risk they are taking, and how much liquidity the bank has in securities as a shield against unforeseen problems. In general, inv estors should pay attention to asset growth, the composition of assets between cash, securities, and loans, and the composition of the loan book. Also, investors should note a banks asset/equity (equity multiplier) ratio, which measures how many times a dollar of equity is leveraged. The liability side of a banks balance sheet is made up of various types of deposit accounts and other forms of borrowings used to fund their investments. A major difference between banks and other is their high leverage or debt-to-asset ratio. Assets and liability management (ALM) is the management of the structure of a banks balance sheet in such a way that interest related earnings are maximized within the overall risk tolerance of the banks management (J.S.G Wilson, 1988). 2.2-The Bank for International Settlement (BIS) and the Basel Accords: 2.2.1-The Bank for International Settlement (BIS): 12 The Bank for International Settlements (or BIS) is an international organization of c entral banks which exists to foster cooperation among central banks and other agencies in pursuit of monetary and financial stability (Wikipedia online, 2008). It carries out its work through subcommittees, the secretariats it hosts, and through its annual General Meeting of all members. The BIS also provides banking services, but only to central banks, or to international organizations like itself. Based in Basel, Switzerland, the BIS was established by the Hague agreements of 1930. As an organization of central banks, the BIS seeks to make monetary policy more predictable and transparent among its 55 member central banks. While monetary policy is determined by each sovereign nation, it is subject to central and private banking scrutiny and potentially to speculation that affects foreign exchange rates and especially the fate of export economies. Two aspects of monetary policy have proven to be particularly sensitive, and the BIS therefore has two specific goals: to regulate cap ital adequacy and make reserve requirements transparent. Capital adequacy policy applies to equity and capital assets. These can be overvalued in many circumstances. Accordingly the BIS requires bank capital/asset ratio to be above a prescribed minimum international standard, for the protection of all central banks involved. The BIS main role is in setting capital adequacy requirements. From an international point of view, ensuring capital adequacy is the most important problem between central banks, as speculative lending based on inadequate underlying capital and widely varying liability rules causes economic crises as bad money drives out good (Greshams Law). The BIS sets requirements on two categories of capital, Tier 1 capital and Total capital. Tier 1 capital is the book value of its stock plus retained earnings. Tier 2 capital is loanloss reserves plus subordinated debt. Total capital is the sum of Tier 1 and Tier 2 capital. Tier 1 capital must be at least 4% of total r isk-weighted assets. Total capital must be at least 8% of total risk-weighted assets. When a bank creates a deposit to fund a loan, its assets and liabilities increase equally, with no increase in equity. That causes its capital ratio to drop. Thus the capital requirement limits the total amount of credit that a bank 13 may issue. It is important to note that the capital requirement applies to assets while the bank reserve requirement applies to liabilities. 2.2.2-The Basel Accords: The Basel Accord(s) refers to the banking supervision accords (recommendations on banking laws and regulations), Basel I (first published in 1988 and enforced by law in 1992 by the G-10 countries) and Basel II (published in June 2004) issued by the Basel Committee on Banking Supervision (BCBS). They are called the Basel Accords as the BCBS maintains its secretariat at the Bank of International Settlements in Basel, Switzerland and the committee normally meets there. The Basel Committee consists of repres entatives from central banks and regulatory authorities of the G10 countries, plus others (specifically Luxembourg and Spain). The committee does not have the authority to enforce recommendations, although most member countries (and others) tend to implement the Committees policies. This means that recommendations are enforced through national (or EU-wide) laws and regulations, rather than as a result of the committees recommendations thus some time may pass between recommendations and implementation as law at the national level. Tier 1 capital is the core measure of a banks financial strength from a regulators point of view. It consists of the types of financial capital considered the most reliable and liquid, primarily Shareholders equity. Examples of Tier 1 capital are common stock, preferred stock that is irredeemable and non-cumulative, and retained earnings. Capital in this sense is related to, but different from, the accounting concept of shareholders equity. Both tier 1 and tier 2 capital were first defined in the Basel I capital accord. The new accord, Basel II, has not changed the definitions in any substantial way. Each countrys banking regulator, however, has some discretion over how differing financial instruments may count in a capital calculation. This is appropriate, as the legal framework varies in different legal systems. 14 Tier 2 capital is a measure of a banks financial strength with regard to the second most reliable form of financial capital, from a regulators point of view. The forms of banking capital were largely standardized in the Basel I accord, issued by the Basel Committee on Banking Supervision and left untouched by the Basel II accord. Tier 1 capital is considered the core capital and more reliable form of capital 2.3- VALUE-AT-RISK 2.3.1-BANK LOANS: A loan is a debt. Like all debt instruments, a loan entails the redistribution of financial assets over time, between the lender and the borrow er. The borrower initially receives an amount of money from the lender, which he pays back, but sometimes not always in regular installments, to the lender. This service is generally provided at a cost, known as interest on the debt. The lender may subject the borrower to certain restrictions known as loan covenants. One of the principal duties of financial institutions is to provide loans, this is typically the source of income to banks, bank loans and credit also constitute one of the ways of increasing money supply in the economy. 2.3.2-VALUE AT A RISK (VAR): This is a technique used to estimate the probability of portfolio losses based on the statistical analysis of historical price trends and volatilities. Value at risk is commonly used by banks, security firms and companies that are involved in trading energy and other commodities. VAR is able to measure risk while it happens and is an important consideration when firms make trading or he dging decision (Simon Manganelli and Robert Engle, 2001). Some people have described VAR as the new science of risk management, but you do not need to be a scientist to use VAR. Here, we look at the idea behind VAR and the three basic methods of calculating it. Basically, VAR is represented by; 15 VAR= (dollar value of position)(price sensitivity)(potential adverse move in price/yield). .(1) For financial institutions, risk is about the odds of losing money given out as loans, and VAR is based on that common-sense fact. By assuming financial institutions care about the odds of a really big loss on loans, VAR answers the question, What is my worstcase scenario? or How much could I lose in a really bad month? To be more specific, a VAR statistic has three components: a time period, a confidence level and a loss amount (or loss percentage). Keep these three lets take note of this as we give some examples of variations of the questions that VAR answers: What is the most I can with a 95% or 99% level of confidence expect to lose in default on loan repayment over the next month? What is the maximum percentage I can with 95% or 99% confidence expect to lose over the next year? We can see how the VAR question has three elements: a relatively high level of confidence (typically either 95% or 99%), a time period (a day, a month or a year) and an estimate of lose on loan default (expressed either in dollar or percentage terms) (David Harper, 2008). 2.4- PORTFOLIO THEORY AND TRADITIONAL METHOD TO CREDIT RISK MANAGEMENT 2.4.1- PORTFOLIO APPROACH: Since the 1980s, banks have successfully applied modern portfolio theory (MPT) to market risk. Many banks are now using earnings at risk (EAR) and value at risk (VAR) models to manage their interest rate and market risk exposures. Unfortunately, however, even though credit risk remains the largest risk facing most banks, the practical of MPT to credit risk has lagged (William Margrabe, 2007). 16 Banks recognize how credit concentrations can adversely impact financial performance. As a result, a number of sophisticated institutions are actively pursuing quantitative approaches to credit risk measurement, while data problems remain an obstacle. This industry is also making significant progress toward developing tools that measure credit risk in a portfolio context. They are also using credit derivatives to transfer risk efficiently while preserving customer relationships. The combination of these two developments has precipitated vastly accelerated progress in managing credit risk in a portfolio context over the past several years. 1. Asset-by-asset Approach: Traditionally, banks have taken an asset-by-asset approach to credit risk management. While each banks method varies, in general this approach involves periodically evaluating the credit quality of loans and other credit exp osures, applying a credit risk rating, and aggregating the results of this analysis to identify a portfolios expected losses. The foundation of the asst-by-asset approach is a sound loan review and internal credit risk rating system. A loan review and credit risk rating system enable management to identify changes in individual credits, or portfolio trends in a timely manner. Based on the results of its problem loan identification, loan review, and credit risk rating system management can make necessary modifications to portfolio strategies or increase the supervision of credits in a timely manner. 2. Portfolio Approach: While the asset-by-asset approach is a critical component to managing credit risk, it does not provide a complete view of portfolio credit risk, where the term risk refers to the possibility that actual losses exceed expected losses. Therefore to gain greater insight into credit risk, banks increasingly look to complement the asse t-by-asset approach with a quantitative portfolio review using a credit model. Banks increasingly attempt to address the inability of the asset-by-asset approach to measure unexpected losses sufficiently by pursuing a portfolio approach. One weakness with the asset-by-asset approach is that it has difficulty identifying and measuring 17 concentration. Concentration risk refers to additional portfolio risk resulting from increased exposure to a borrower, or to a group of correlated borrowers. Table 1 summerises strategies for reducing and coping with portfolio credit risk. Table 1: Strategies for Reducing and Coping with Portfolio Credit Risk Technique Advantages Disadvantages Implication Geographic Diversification External shocks (climate, price, natural disasters, etc.) are not likely to affect the entire portfolio if there is spatial diversification. If the country is small or the Institution is capital constrained, it ma y not be able to apply this principle. It will become vulnerable to covariate risk, which is high in agriculture. Loan Size Limits (Rationing) Prevents the institution from being vulnerable to nonperformance on a few large loans. Can be carried to the extreme where loan size does not fit the business needs of the client and results in suboptimal use and lower positive impact by client. Client could become dissatisfied Protects asset quality in the shortrun but creates client retention problems in the long run. Inimical to relationship banking. Over Collateralization Assures the institution that enough liquidation value will exist for foreclosed assets. Excludes poor, low-income clients who are the vast majority of the market. Not a recommended technique if goal is to better serve the low- and moderate income clients. Credit Insurance Bank makes clients purcha se credit insurance. In event of default, bank collects from insurer. Databases and credit bureaus may not exist to permit insurer to engage in this line of business in cost-effective manner. Portfolio Securitization Lender bundles and sells loans to a third party. Transfers default risk and improves liquidity so that it can continue to lend. Allows lender to develop expertise in analyzing creditworthiness in one sector or niche. Requires well documented loans and long time series of performance data to permit ratings and reliable construction of financial projections. Requires a well developed secondary market, standardized underwriting practices, and existence of rating companies. 18 Source: Publication of the Inter-American Development Bank, May 2007. 2.4.2-TRADITIONAL APPROACH: It is hard to differentiate between the traditional approach and the new approaches since many of the ideas of traditional models are used in the new models. The traditional approach is comprised of four classes of models 1. Expert Systems In the expert system, the credit decision is left in the hands of the branch lending officer. His expertise, judgment, and weighting of certain factors are the most important determinants in the decision to grant loans. the loan officer can examine as many points as possible but must include the five Cs these are; character, credibility, capital, collateral and cycle (economic conditions) in addition to the 5 Cs, an expert may also take into consideration the interest rate. 2. Artificial Neural Networks: Due to the time consuming nature and error- prone nature of the computerized expertise system, many systems use induction to infer the human experts decision process. The artificial neural networks have been proposed as solutions to the problems of the expert system. This system simulates the huma n learning process. It learns the nature of the relationship between inputs and outputs by repeatedly sampling input/output information. 3. Internal Rating at Banks: Over the years, banks have subdivided the pass/performing rating category, for example at each time, there is always a probability that some pass or performing loans will go into default, and that reserves should be held against such loans. 4. Credit Scoring Systems: 19 A credit score is a number that is based on a statistical analysis of a borrowers credit report, and is used to represent the creditworthiness of that person1. A credit score is primarily based on credit report information. Lenders, such as banks use credit scores to evaluate the potential risk posed by giving loans to consumers and to mitigate losses due to bad debt. Using credit scores, financial institutions determine who are the most qualified for a loan, at what rate of interest, and to what credit limits (Wiki pedia, 2008). 2.5-SUPERVISORY AUTHORITY OF BANK CREDIT RISK MANAGEMENT The Bank of International Settlement (BIS) on November 28th 2005 in a press release issued a series of ten principles on Sound Credit Risk Assessment and valuation for Loans: Principle 1: The banks board of directors and senior management are responsible for ensuring that the banks have appropriate credit risk assessment processes and effective internal controls to consistently determine provisions for loan losses in accordance with the banks stated policies and procedures, the applicable accounting framework and supervisory guidance commensurate with the size, nature and complexity of the banks lending operations. Principle 2: Banks should have a system in place to reliably classify loans on the basis of credit risk. Principle 3: A banks policies should appropriately address validation of any internal credit risk assessment models. Principle 4: A bank should adopt and document a sound loan loss methodology, which addresses risk assessment policies, procedures and controls, for assessing credit risk, identifying problem loans and determining loan provisions in a timely manner. Principle 5: A banks aggregate amount of individual and collectively assessed loan provisions should be adequate to absorb estimated credit losses in the loan portfolio. 1 That is, the likelihood that the person will pay his or her debts. 20 Principle 6: A banks use of experienced credit judgment and reasonable estimates are an essential part of the recognition and measurement of loan losses. Principle 7: A banks credit risk assessment process for loans should provide the bank with the necessary tools, procedures and observable data to use for credit risk assessment purposes, account for impairment of loans and the determination of regulatory capital requirements. Principle 8: Banking supervisors should periodically evaluate the eff ectiveness of a banks credit risk policies and practices for assessing loan quality. Principle 9: Banking supervisors should be satisfied that the methods employed by a bank to calculate loan loss provisions produce a reasonable and prudent measurement of estimated credit losses in the loan portfolio that are recognized in a timely manner. Principle 10: Banking supervisors should consider credit risk assessment and valuation practices when assessing a banks capital adequacy. I. Individual Credit Rating: A credit rating assesses the credit worthiness of an individual, corporation, or even a country. Credit ratings are calculated from financial history and current assets and liabilities. Typically, a credit rating tells a lender or investor the probability of the subject being able to pay back a loan. However, in recent years, credit ratings have also been used to adjust insurance premiums, determine employment eligibility, and establish the amount of a utility or leasing deposit. II. Corporate credit ratings: The credit rating of a corporation is a financial indicator to potential investors of debt securities such as bonds. These are assigned by credit rating agencies2 such as Standard Poors, Moodys or Fitch Ratings and have letter designations such as AAA, B, CC. The Standard Poors 2 In the United States, the main credit bureaus are Experian, Equifax, and TransUnion. A relatively new credit bureau in the US is Innovis. In the United Kingdom, the main credit reference agencies for individuals are Experian, Equifax, and Callcredit. In Canada, the main credit bureaus for individuals are Equifax, TransUnion and Northern Credit Bureaus/ Experian. The leading credit bureau in Sweden is Upplysningscentralen AB. In India, the main credit bureaus are CRISIL and ICRA. The largest credit rating agencies are Moodys, Standard and Poors and Fitch Ratings. 21 rating scale is as follows: AAA, AA, A, BBB, BB, B, CCC, CC, C, D. Anything lower than a BBB rating is considered a speculative or junk bond. The Moodys rating system is similar in concept but the verbage is a little different. It is as follows: AAA, Aa1, Aa2, Aa3, A1, A2, A3, Baa1, Baa2, Baa3, Ba1, Ba2, Ba3, B1, B2, B3, Caa1, Caa2, Caa3, Ca, C. III. A sovereign credit rating is the credit rating of a sovereign entity. The sovereign credit rating indicates the risk level of the investing environment of a country and is used by investors looking to invest abroad. It takes political risk into account. The countries with the least sovereign risk are ranked as follows. Table 2: Country risk rankings (Least risky countries), Score out of 100 Source: Euromoney, Country risk, March 2008. Rank Previous Rank Country Score 1 1 Luxembourg 99.88 2 2 Norway 97.47 3 3 Switzerland 96.21 4 4 Denmark 93.39 5 5 Sweden 92.96 6 6 Ireland 92.36 7 10 Austria 92.25 8 9 Finland 91.95 9 8 Netherlands 91.95 10 7 United States 91.27 According to the results (see table 2), Austrias country rating has improved from 10th to 7th position while the USA has dropped to the10th position from 7th. 2.6-MANAGING CREDIT RISK USING FINANCIAL RATIOS: 22 Ratio analysis (financial and accounting ratios) is a measurement system to analyse the strength, weakness, opportunity and threats (SWOT Analysis) of an FI. The table below depicts some of the frequently used ratios in credit analysis (table 2): Table 3: Frequently Used Ratios in Credit Analysis3 Category Ratio Operating Performance Earnings before interest, taxes, depreciation and amortization(EBITDA)/Sales Net Income/ Sales Net Income/ Net Worth Sales/ Fixed Assets Debt Service Coverage EBITDA/ Interest Payment1.5 Free Cash-flow expenditure/ Interest payments Free Cash-flow expenditures-dividend/Interest Financial Leverage Long-term debt/Capitalization Long-term debt/Ta ngible net worth Total liabilities/Tangible net worth Current liabilities/Tangible net worth Liquidity Current ratio (current assets/current liabilities) Quick ratio (current assets-inventory/current liabilities) Inventory turnover(inventory/Net sales) Inventory to Net working capital Current debt to Inventory Raw materials,WIP, and finished goods as a percentage of total Inventory Receivables Aging of receivables:30,60,90,90+days 3 These ratios are commonly used in credit analysis but have to be adapted to specific environment of industries and countries. 23 Average collecting period Source: Caoutte, et al., 1998 2.7 Credit Risk Models Over the last decade, a number of the worlds largest banks have developed sophisticated systems in an attempt to model the credit risk arising from important aspects of their business lines. Such models are intended to aid banks in quantifying, aggregating and managing risk across geograp hical and product lines. The outputs of these models also play increasingly important roles in banks risk management and performance measurement processes, including performance-based compensation, customer profitability analysis, risk-based pricing and, to a lesser (but growing) degree, active portfolio management and capital structure decisions. The Task Force recognizes that credit risk modeling may indeed prove to result in better internal risk management, and may have the potential to be used in the supervisory oversight of banking organizations. However, before a portfolio modeling approach could be used in the formal process of setting regulatory capital requirements for credit risk, regulators would have to be confident not only that models are being used to actively manage risk, but also that they are conceptually sound, empirically validated, and produce capital requirements that are comparable across institutions. At this time, significant hurdles, principally concerning data availability and model validation, still need to be cleared before these objectives can be met, and the Committee sees difficulties in overcoming these hurdles in the timescale envisaged for amending the Capital Accord (BIS, credit risk modeling, 19th April 1999). Credit scoring models use data on observed borrower characteristics either to calculate the probability of default or to borrowers into different default risk classes (Saunders and Cornett, 2007). Prominent amongst the credit scoring models is the Altmans Z-Score. The Z-score formula for predicting Bankruptcy of Dr. Edward Altman (1968) is a multivariate formula for measurement of the financial health of a company and a powerful diagnostic 24 tool that forecast the probability of a company entering bankruptcy within a two year period with a proven accuracy of 75-80%. The Altmans credit scoring model takes the following form; Z=1.2X1+ 1.4X2 + 3. 3X3 + 0.6X4 +1.0X5 (2) Where, X1 = Working capital/ Total assets ratio X2 = Retained earnings/ Total assets ratio X3 = Earnings before interest and taxes/ Total assets ratio X4 = Market value of equity/ Book value of long-term debt ratio X5 = Sales/ Total assets ratio. The higher the value of Z, the lower the borrowers default risk classification. According to Altmans credit scoring model, any firm with a Z-Score less than 1.81 should be considered a high default risk, between 1.81-2.99 an indeterminate default risk, and greater than 2.99 a low default risk. Critics: Use of this model is criticized for discriminating only among three borrower behavior; high, indeterminate, and low default risk. Secondly, that there is no obvious economic reason to expect that the weights in the Z-Score model or, more generally, the weights in any credit-scoring model- will be constant over any but very short periods. Thirdly the problem is that these models ignore important, hard to quantify factors (such as macroeconomic factors) that may play a crucial role in the default or no-default decision. Outstanding also is the KMV credit Monitor Model4. In recent years, following the pioneering work on options by Merton, Black, and Scholes, we now recognize that when a firm raises funds either by issuing bonds or by increasing bank loans, it holds a very valuable default or repayment option ( Black and Scholes, 1973) and (Merton, 1974). The KMV Model is a credit monitor model that helps to solve the lending problems of banks 4 KMV is a trademark of KMV Corporation that was founded in 1989. The KMV model calculates the Expected Default Frequency (EDF) based on the firms capital structure, the volatility of the assets returns and the current asset value. This model best applies to publicly traded companies for which the value of equity is market determined. 25 and further look at the repayment incentive problem (Gilbert, 2004). To try resolving the problems, the KMV Model uses the structural relationship between the volatility of a firms asset and the volatility of the firms equity. The KMV Corporation (purchased by Moodys in 2002) has turned this relatively simple idea into a credit-monitoring model now used by most of the large US banks to determine the Expected Default Frequency (EDF) that is the probability of default of large corporations (KMV Corporation, 1994). The expected default frequency that is calculated reflects the probability that the market value of the firms assets will fall below the promised repayments on debt liabilities in one year. If the value of a firms assets falls below its debt liabilities, it can be viewed as being economically insolvent. Simulations by the KMV have shown that this model outperforms both accounting-based models and SP ratings (Saunders and Cornett, 2007). The relevant net worth of a firm is therefore the market value of the firms assets minus the firms default point. Net worth= (Market Value of Assets) (Default Point) (3) A firm will default when its market net worth reaches zero. (Market Value of Assets)(Asset Volatility) (Market Value of Assets) (Default Point) Distant to Default = (4) (Source: Moodys KMV; Modeling Default Risk, 18th December 2003.) The KMVs empirical EDF is an overall statistics that can be calculated for every possible distance to default (DD) using data either aggregated or segmented by industry or region. To find the EDF for any particular firm at any point in time, one must look at the firms EDF as implied by its calculated DD. As a firms DD fluctuates, so do its EDF. For firms that are actively traded, it would be possible in theory to update the EDF every few minutes (Gilbert, 2004). CRITICS: The KMV EDF Model has been criticized on the basis that they are not true probabilities of default. This is refl ected in the poor results obtained using KMV empirical EDFs in order to replicate risky bond prices (Kao, Eom et al, 2000). 26 An increasingly popular model used to evaluate the return on a loan to a large customer is the Risk-Adjusted Return on Capital (RAROC) Model. This model, originally pioneered by Bankers Trust (acquired by Deutsche Bank in 1998) is now adopted by virtually all the large banks in Europe and the US, although with some differences among them (Saunders and Cornett, 2007). The essential idea behind RAROC is that rather than evaluating the actual promised annual cash flow on a loan as a percentage of the amount lent or (ROA), the lenders balance the loans expected income against the loans expected risk. The RAROC Model is basically represented by, RAROC = (one year net income on loan)/ (Risk adjusted assets). (5) For denominator of RAROC, duration approach can be used to estimate worst case loss in value of the loan: DL n = -DLnx Ln x (DR/ (1+R)) .(6) Where, DR is an estimate of the worst change in credit risk premiums for the loan class over the past year. Ln= Loan DLn= Change in loan class R=Interest Rate According to James Christopher (1996), the immediate purpose of the RAROC riskmeasurement systems is to provide bank managements with a more reliable way to determine the amount of capital necessary to support each of their major activities and, thus, to determine the overall leverage for the bank as a whole. This paper also stipulates that the RAROC system provide a uniform measure of performance and that management can, in turn use this measure to evaluate performance for capital budgeting and as an input to the compensation system used for senior managers. 27