Underpricing in Turkey: a Comparison of the IPO Methods

Underpricing in Turkey: a Comparison of the IPO Methods Abstract This paper addresses the question of what kind of selling and underwriting procedure might be preferred for controlling the amount and volatility of underpricing in the Istanbul Stock Exchange (ISE). Using 1993-2005 firm and issue data, we compare the three substantially different IPO methods available in the ISE. One is very similar to the book building mechanism used in the U.S., another is the fixed price offer, and the third one is the sale through the stock exchange method. The empirical analysis reveals significant first day underpricing of 7.01% in fixed price offer, 11.47% in book building mechanism, and 15.68% in sale through the stock exchange method. Finally, we also show that fixed price offers can better control the impact of market information on underpricing than sale through the stock exchange method. 1. Introduction Extensive amount of research from a variety of different markets have documented the presence of first-day underpricing upon the listing of initial public offerings. The evidence is well documented by Loughran, Ritter, and Rydqvist (1994) and Ritter1 (1998), (2003) in many developed and emerging markets. In developed markets, in the absence of restrictions on intra-day price movements, first-day underpricing is observed in broad price bands. However, in emerging markets, in the presence of daily volatility limits, first-day underpricing is observed in narrow price bands. In contrast to the daily price limits, significant positive short run returns are observed in a number of emerging markets and substantial amount of money is â€Å"left on the table by issuers. Besides empirical evidence, most of the theoretical models explaining IPO underpricing are grouped under four broad headings by Ljungqvist (2005), these are (i) information asymmetry between the investors, the issuing firm an d the underwriter, these models assume that one of these parties knows more than the others, (ii) institutional reasons, institutional theories focus on three features of the marketplace: litigation, banks price stabilizing activities once trading starts, and taxes, (iii) control considerations, control theories argue that underpricing helps shape the shareholder base so as to reduce intervention by outside investors once the company is public, (iv) behavioral approaches, behavioral theories assume either the presence of irrational investors who bid up the price of IPO shares beyond true value, or that issuers suffer from behavioral biases causing them to put insufficient pressure on the underwriting banks to have underpricing reduced. These theoretical models almost always end with the conclusion that the average IPO is undervalued at the offer price, where the initial investors, in most cases, benefit from possessing information by receiving allocations of shares in IPOs and earn the largest first-day returns. The expectations of issuing firms, investors and underwriters in IPO pricing are considerably different. In an offering, the issuer generally wants to receive the highest possible price to maximize cash flows to the firm. Investors like to purchase shares at a deep discount so that they can realize positive returns *Baskent University, Faculty of Economics and Administrative Sciences, Baglica Kampusu, Ankara, 06530, Turkey, + 90 (312) 234 10 10 /1728, [emailprotected] 1 Ritter (1998), (2003) provides an update on the compilation of Loughran, Ritter, and Rydqvist (1994) in a short investment period. Underwriters, acting as an intermediary between investors and issuing firms, suffer from a dilemma, if an underwriter determines IPO prices too low, where the foreseen amount of money left on the table will be huge, the issuing firm may withdraw or switch to another underwriter. On the other hand, if an underwriter determines IPO prices relatively high, investors will hesitate to buy new issues, which would result in low commissions and an unwanted effort in aftermarket stabilization activities. Underwriters, however, have an incentive to underprice the shares to ensure that they can sell the offering, and, unsurprisingly, there is extensive evidence that IPOs are, on average, underpriced. Hence, pricing of stocks in IPOs may be the most critical stage of the IPO process. More recently, the literature on IPOs, both theoretical and empirical, focuses on the efficiency mechanisms of the following methods for pricing initial public offerings. At the center of this literature, book building, auctions and fixed price offers differ mainly in price-discovery and share allocation process. Book Building in which the underwriters do road shows and take non-binding orders from Auctions in which the company sets a price range to be used as a non-restrictive guideline for investors, than accepts bids, each specifying a number of shares and a price the investor is willing to pay for them, finally, the market-clearing price set by the investors approximates the real price the shares will command in the market. Fixed Price Offer in which the issue price is set first and than orders are taken from investors who typically pay in advance for part or all of the shares that are ordered. Sale through the Stock Exchange in which the sale is initially conducted in the primary market of the stock exchange by a designated underwriter. Those investors who buy the shares in the primary market must wait until the shares trade in the secondary market in order to sell their shares. The price designated at the time of registration with the securities exchange commissions is set as the opening price. Hybrid Offerings in which the underwriters combine the preceding IPO methods, and design auction/fixed price, auction/book building and book building/fixed price hybrids. For most hybrids, the most common combination is the book building/fixed price offer, where the underwriter uses the book building method to set the price and allocate shares to institutional and foreign investors, and retain the fixed price offer to the domestic retail investors who do not participate in the price-setting process. This paper addresses the question of what kind of selling and underwriting procedure might be preferred for controlling the amount and volatility of underpricing in the Istanbul Stock Exchange (ISE). In this regard, we first compare the three IPO methods available in Turkey. One is very similar to the book building mechanism used in the U.S., another is the fixed price offer, and the third one is the sale through the stock exchange method. Then, we estimate a binary probit on the issuers choice between fixed price offer and sale through the stock exchange method, however, because of the declining importance of the book building mechanism in Turkey, we excluded the book build IPO sample from our binary probit estimations. Finally, we determine the factors that are expected to have an effect on the IPO returns. Our results indicate that, the comparison of the two mechanisms yield that for certain values, namely first day underpricing, IPO amount and fractions of equity sold, fixed pric e offer outperforms the sale through the stock exchange method. To the best of our knowledge, this is the first empirical study on the comparison between fixed price offer and sale through the stock exchange method in the IPO literature. The uniqueness of the data and the availability of the sale through the stock exchange method in the ISE make it possible to conduct a study on the comparison between these two methods. The remaining part of this paper is organized in six sections. In the next section, we provide a comparison of the theoretical and empirical research conducted on IPO methods across many countries around the world. In section 3, we describe the three important Turkish IPO market selling procedures. In section 4, we describe the data and the methodology we used in our empirical tests. Section 5 documents the relationship between market conditions and underpricing of IPOs in different time series and the last section concludes. 2. Comparison of the IPO methods in the literature: Theory and Evidence The efficiency of the IPO methods has been the subject of an academic research over a decade, both empirical studies and theoretical models have tried to explain the advantages of one method over another. The argument that is often made in favor of IPO methods is often empirical as well as theoretical. Researchers studying on the efficiency of the IPO methods try to answer the most challenging question, â€Å"Which one of the IPO mechanism is the most efficient?2. However, according to our comprehensive literature research, both empirical studies and theoretical models listed in Table have some mixed answers. 1. Book Building vs. Fixed Price Offer and/or Auctions Comparison of the IPO methods in the literature goes back to Benveniste and Spindt3 (1988), (1989) and Spatt and Srivastava (1991), they suggest that the American bookbuilding procedure is efficient since it encourages investors to reveal their beliefs about the issues value at a cost of initial underpricing. Book building allows investors to collect information about the value of the stock and price the issue more accurately. To compensate the investors who reveal information, underwriter will favor them when allocating shares. However, fixed price mechanism does not utilize any information about realized buyer valuationsin setting the issue price and is generally inefficient. Loughran, Ritter and Rydqvist (1994) present the first international evidence on the short-run and long-run performance of companies going public in many stock markets around the world. They document that the fixed price method is associated with greater underpricing because of the greater probability of the issue failing and the increased uncertainty associated with the longer time delay between offer and issuance time. Chowdhry and Sherman (1996) point out that two features of fixed price offers tend to lead to greater underpricing, relative to the book building method. The first one is the length of the bidding process, as the time gap between the offer and first day market price widens â€Å"price information leakage occurs, the second one is the common requirement that investors pay in advance for their entire order. Benveniste and Busaba (1997), extend Welchs4 (1992), model of information cascades in investment decisions and present a theoretical comparison of the fixed-price and book-building mechanisms. They exhibit that issuers with a greater concern for risk will prefer a fixed-price offer, because book- building might generate higher expected proceeds, and exclusively provides an opportunity to sell additional shares at full value but it also exposes them to higher risk. Ritter (1998) demonstrates that countries that use bookbuilding typically have less underpricing than countries using f ixed-price offerings, more underpricing under fixed-price offering procedures can be attributed to informational cascades. However, Loughran, Ritter and Rydqvist (1994) and Ritter (1998) point out that IPOs with discretionary allocation (Fixed Price Offering and Book-building) are underpriced more than those with non-discretionary allocation (Offer for sale and Auctions), especially in Auctions. Under discretionary allocation, the first day price increase averaged 37% in fixed price offerings, 12% in book building. Under non-discretionary allocation, the first day price increase averaged of 27% in Offer for sale and 9% in Auctions. 2 In terms of controlling the amout and volatility of underpricing, share allocation and pricing. 3 The literature on underpricing in initial public offerings goes back to Logue (1973), Ibbotson (1975), Chalk and Peavy (1987), Miller and Reilly (1987), Ritter (1984), Rock (1986), Allen and Faulhaber (1989), Benveniste and Spindt (1988, 1989), Grinblatt an d Hwang (1989), and Welch (1989). However, the mechanism by which initial issues are sold has largely been ignored until Benveniste and Spindt (1988), (1989). 4 Welch (1992) focuses on the fixed-price procedure used in some non-US countries, and shows that this procedure can cause informational cascades: investors who observe the investment choice made by previous investors can update their beliefs about the value of the issued shares. Sherman (2000), (2002) shows that fixed price offer, can lead to higher underpricing than book building. Contrary to the fixed price offer and the auction method, in book building underwriters discriminate investors in the allocation of shares to establish long-run relationship with intermediates. Book building gives the underwriter greater flexibility in designing a solution that reflects the individual issuers preferences. By controlling investor access to IPO shares, book building controls both the winners curse problem that affects discriminatory auctions and the free rider problem that affects uniform price auctions. Book building also reduces uncertainty for both issuers and investors. In a study that covers 47 countries, Sherman (2002) has found that in all countries in which the bookbuilding mechanism has been introduced, pre-existing auction systems have decreased in popularity or disappeared altogether. Ljungqvist, Jenkinson and Wilhelm (2000) use a unique dataset containing information on 2,051 initial public offerings in 61 stock markets around the world, during the period of 1992-1999. The authors examine the relative direct and indirect costs of offerings carried out by book building and fixed-price methods. They find that, the direct costs of book building are typically twice as large as direct costs for fixed-price offers. Compared to fixed price offerings, book building efforts though more expensive produce far less underpricing. Nevertheless, fixed price offering is still an extremely common method that is not likely to be abandoned by the underwriters completely. Compared to book building efforts, fixed price offering is an efficient, low cost way to distribute shares to retail investors, avoiding the high fixed costs of road shows. Aorsio, Giudici and Paleari (2000), Guidici and Paleari (2001) present an empirical study conducted on the Milan Stock Exchange companies bet ween 1985 and 1999. Authors distinguish between fixed- price offers and open-price offers with bookbuilding and find different underpricing levels and statistically significant determinants. They state that if the offering is preceded by book building, the underpricing is significantly lower (8.32 % vs. 28.33% in fixed-price offerings), this method allows the issuing parties to collect information from the institutions and to signal good news or bad news to retailers through the revision of the prospectus price range. Therefore, the cost of raising private information is reduced and the requested underpricing is lower. The evolution of the placing procedure, from fixed price to book building, has considerably improved the efficiency of Italian IPO market. Biais and Faugeron-Crouzet (2002) analyze and compare the performance of book building, fixed price offering, uniform price auction, internet-based Open IPO mechanism, and an auction like mechanism called the Mise en Vente in France. Conclusions emerging from their analysis are; Fixed price offerings lead to inefficient pricing and winners curse. Dutch auctions can also lead to inefficiencies, to the extent that they are conductive to tacit collusions by investors. The book building and an auction like mechanism Mise en Vente can lead to optimal information elicitation and price discovery. Chahine (2002) investigates the relationship between underpricing and the investors interest prior to and after the IPO day on 305 French issues. Empirical results show that book-built issues have a lower underpricing, on median, but a higher variance level, than the auction-like and fixed-price offerings. Despite the high initial underpricing of some book-built issues, book-building procedure appears to better control the information gathering from investors participating in the offering, and to be a more efficient pricing system than the auction-like procedure. Paney (2004) examines the initial returns, characteristics of issuers and long run performance of Indian IPOs on a sample of 84 Indian IPOs between 1999 and 2002. In terms of initial returns or underpricing, Paney (2004) finds that fixed price offering yields higher initial returns on average, as compared to book building. In terms of issuer characteristics, Paney (2004) finds that fixed price offering are used by issuers of fering large proportion of their capital by raising a small amount of money. In contrast, book building is opted for by issuers, offering small portion of their stocks and mobilizing larger sums of money. Kutsuna and Smith (2004) present an empirical study conducted on the Japanese IPOs between 1995 and 1999. Using a sample of 163 book-built and 321 auctioned IPOs by JASDAQ companies, authors document that average total issue cost, measured as a percent of aftermarket price, was significantly higher in the book-building regime than in the earlier auction regime. However, when results are weighted by issue size, the estimated aggregate costs of auctioning and book building are similar. This outcome favors book building over auctions for two reasons. First, auction-method estimates do not reflect opportunity costs related to underinvestment. Second, issue cost estimates ignore other benefits of the more-accurate pricing that book building affords. Anand (2005) examines the differences between book building and Dutch-auction, and shows that the bookbuilding method of offering securities is superior to the Dutch-auction IPOs. Stated by Anand (2005), while the Dutch-auction may seem to lea d to efficient price discovery based on investor demand, recent transactions suggest that price discovery is not always accurate and that, indeed, underpricing occurs even in the Dutch auction. Further, even if the Dutch auction is more fair than the bookbuilt process in terms of allocating securities, the Dutch auction can lead to less capital market efficiency overall and can therefore be questioned as a basis for promoting this type of offering. Jagannathan and Shermans (2005) research on the efficiency of IPO mechanism show that hybrid bookbuildings5, unlike auctions, have proved effective in many different countries, cultures, time periods, and market conditions. Jagannathan and Sherman (2005) propose a new IPO mechanism that could overcome the problems with standard auctions. A method that retains the advantages of bookbuilding, while modifying it to increase transparency. Although not a direct comparison between book building, auctions and fixed-price offers, Cornelli and Gol dreich6 (2001), (2003) examine a unique data set of international book building allocations and find that the underwriter favors both regular investors and investors that supply information on the value of the issue. Degeorge, Derrien and Womack (2005) have presented empirical evidence from Frances IPO market that underwriters employing the bookbuilding process implicitly committed to providing more favorable coverage to the companies they took public in the aftermarket. Authors find convincing empirical evidence that in addition to placing the IPO shares with investors, underwriters employing book-building implicitly commit to providing more favorable coverage to the companies they take public in the aftermarket. Specifically, analysts, affiliated with the lead underwriter of the offering, issue more favorable recommendations for recent book-built IPOs than for auctioned offerings. 2.2. Fixed Price Offer vs. Book Building and/or Auctions The pricing of Initial Public Offerings (IPOs) in the short-run has been analyzed by several theoretical and empirical studies referring to the major international stock markets. Extensive research has revealed that the fixed-price offering all over the world suffer from IPO underpricing especially in these major markets. However, studies conducted by Busaba and Cheng (2001), Bierbaum and Grimm (2003), Chemmanur and Liu (2003), Hsu and Hung (2005) present some evidence on the efficiency of fixed price offering over book building and auctions. Busaba and Cheng (2001) show that the bookbuilding process elicits much information from informed traders at the IPO stage by promising larger allocation of valuable stocks to investors who truthfully reveal their information, and therefore reduce the impact that such informed traders have in the after- 5 In the hybrid bookbuilding offers, all retail investors are allowed to place orders in a public offer tranche, and all have an equal chance of getting shares. The prices, however, are set by professional investors who are given incentives to attend the road show. Jenkinson and Jones (2004), cast some doubts about the findings of Cornelli and Goldreich (2001) upon the extent of information production during the bookbuilding period. market trading. In contrast, the fixed price method, that does not elicits such private information at the IPO stage, enables informed traders to use such information in the after-market at the expense of the uninformed traders. In this regard, if the underwriter building a book can not successfully target a subset of the informed investors, a simple fixed price strategy that involves allocating the issue to retail investors produces higher proceeds on average. The comparatively high adverse selection problems associated with the fixed-price method will spill over from the IPO stage to the after-market. This in turn means that liquidity will be relatively more important for IPOs carried out via a fixed- price method than via bookbuilding. Authors show that, compared with a fixed-price offering, the bookbuilding process elicits more information from informed traders at the IPO stage, and therefore reduce adverse selection problems in the after-market trading. However, by the same toke n bookbuilding may require larger informational rents to be paid at the IPO stage. This suggests that underpricing should be larger for IPOs carried out via bookbuilding than via a fixed-price method. Bierbaum and Grimm (2003) compare the fixed price and the uniform auction in a game theoretic framework. The comparison of the two mechanisms yields that for certain parameter values, namely a low variance of the asset and, at the same time, a sufficiently high probability of low demand, fixed price method outperforms the auction in terms of revenue. Moreover, the revenue in the fixed price mechanism is typically less volatile than the revenue in the auction. Chemmanur and Liu (2003) model the effect of costly information production on issuers choice of a fixed-price offer or a uniform-price auction with exogenous entry of bidders. Their model predicts that IPO auctions will exhibit a significantly lower mean and variance of underpricing compared to fixed- price offerings. This is due to the fact that the offering price in an IPO auction aggregates the information produced by outsiders to a significant degree, so that this offering price is greater for higher intrinsic-value firms and lower for lower intrinsic-value firms in IPO auctions than in fixed- price offerings. At the same time, there is less information production in IPO auctions compared to fixed-price offerings where the offering price is set by insiders to induce the optimal degree of information production, so that a lower amount of information is reflected in the opening price of the shares listed in the stock market. Thus, Chemmanur and Liu (2003) demonstrated that, in many situations, firms will prefer to go public using fixed-price offerings rather than IPO auctions in equilibrium, since such offerings allow the firm to induce the optimal extent of information production. Hsu and Hung (2005) present an empirical study conducted on the Taiwanese companies between 1996 and 2000. Using a sample of 280 pure fixed-price offers and 84 hybrid auctioned, authors find that, Taiwanese hybrid auctions are associated with less under-pricing and with a lower variance of under-pricing than versus the pure fixed-price offers, but these differences are not statistically different. On the other hand, we find that the market index returns prior to the IPO pricing date have a strong influence on the under-pricing of Taiwanese IPO auctions and of the pure fixed-price offers. Authors provide empirical evidence of how Taiwanese issuers make the choice of IPO method. Taiwanese issuers that float large IPOs, or which have a pricing conflict with underwriters, will likely use a hybrid auction to distribute shares. On the other hand, when the relative risk level of IPO auctions to fixed-price offers has increased, the issuers will likely avoid an IPO auction. Empirical evidenc e also explains why Taiwanese IPO auctions have lost market share to fixed-price offers. Further results reveal that Taiwanese IPO auctions are not associated with less under-pricing and with a lower variance of under-pricing, nor are they better at incorporating recent market information into the IPO price than the pure fixed-price offers. Authors examination on issuers choice of hybrid auctions or fixed-price offers indicates that Taiwanese issuers condition their choice of IPO method not only on firm characteristics, but also on IPO size and on market conditions. This is why Taiwanese issuers prefer a pure fixed-price offer to a hybrid auction are based on market volatility and the pricing conflict. In doing so, under a volatile market where Taiwanese hybrid auctions have become much riskier relative to the pure fixed-price offers, issuers will prefer a pure fixed-price offer to a hybrid auction, resulting in a lower popularity of Taiwanese hybrid auctions. As listed in Table 1, Fixed Price Offering seems to be the less favorable method comparing to Book building and Auction Methods. It is a fact that, the worldwide introduction of book building method during the 90s has promoted efficiency in the major equity markets. However, Sherman (2002) states that stock markets listing few IPOs each year, fixed price offering is still be the optimal method. 2.3. Auctions vs. Book Building and/or Fixed Price Offer Using a sample of 108 French firms marketed on the Second Marchà © between 1984 and 1991, Leleux and Paliard (1995) show that initial returns are significantly higher for firms issuing through the fixed- price procedure than for firms using auction-like procedures. Leleux and Paliard (1995) state that the auction mechanism is associated with less underpricing and thus more efficient, since this procedure is able to incorporate more information from recent market momentum into the pricing of the IPO. Beierlein (2000) compares the book-bu ilding method to two commonly used auction mechanisms, the discriminatory price auction and the uniform price auction in terms of underpricing and the long run performance of IPOs relative to the market. Using data from Japan, Israel and the U.S., author finds evidence that the U.S. book building is less efficient than the auction mechanisms are. Specifically, underpricing is significantly higher in the U.S. than it is in Japan or Israel and bookbuilding appears to incorporate less demand information into the offer price than the auction mechanisms do. Bennouri and Falconieri (2001) suggest that auction mechanisms are the optimal way to sell new shares because auction procedures are more informationally efficient than bookbuilding. Assuming ex ante uncertainty about the firm true value, then auction mechanisms are able to elicit and incorporate more information from the market as well as from investors into the pricing of IPOs. Draho (2001) suggests that underpricing in bookbuilt IPOs is due to the uncertainty about the price on the secondary market rather than about the firm value, as most of the literature assume. Nonetheless, his results indicate auction-like mechanisms as the most efficient ones, since they are open to all investors who are moreover required to submit price-quantity bids. McDonald (2001) examines the efficiency mechanisms of the sealed-bid uniform-price auctions over book building method in a theoretical framework and concludes that the uniform-price auction, due to its generalized Vickrey auction properties, is indeed an efficient auction mechanism especially for the sale of IPOs over the Internet. Biais, Bossaert, and Rochet, (2002) study the optimal IPO mechanism by which the seller can extract private information to maximize the expected net IPO proceeds. They find that the optimal mechanism they characterize is similar to auction-like IPO procedures used in the U.K. and in France. Kaneko and Pettway (2003) examine the Japanese initial returns before and after the introduction of book building, and find that underpricing in book building method is significantly higher than auctions, especially during hot markets. Results suggest that the move from auction-priced to underwriter-priced IPOs using book building in Japan has significantly reduced the wealth of issuing companies while increasing the wealth of underwriter-selected investors. Derrien and Womack (2003), use the French IPO data for the 1992-1998 period and compare the three underwriting/selling mechanisms available on the French market. One is very similar to the book building mechanism used in the United States. Another is a fixed price procedure. The third one is an auction-like procedure. Authors show that the auction procedure is better than the others at controlling underpricing in general as well as the variance of underpricing of the issued shares in â€Å"hot versus â€Å"cold markets. Fixed price offering method is indeed inefficient and leads to greater underpricing compared to IPOs sold through book-building and auctions. However, the main empirical comparison in this paper is between the two main procedures auction and book building. Authors find evidence that during hot markets auctioning is associated with less underpricing than book building. They attribute the result to the auction methods ability to incorporate more information about recent market performance into the offer price. This result provides empirical support for the theoretical work by Biais, Bossaerts, and Rochet (2002) who suggests the auction procedure is optimal. In line with the evidence of Derrien and Womack (2003) that an auction procedure is more efficient in incorporating recent market momentum in the offer price compared to fixed price procedure, Vandemaele (2003) uses the French IPO data for the 1984-1995 period and points out the factors that may influence issue procedure choice. Results indicate that, firms facing relatively high valuation uncertainty are high likely to opt for an auction-like procedure and the likelihood of opting for an auction increases as the investment bank reputation associated with the issue decreases. Although not a direct comparison between auctions, book building and fixed-price offers, studies in Pettway and Kanekos (1996) examination on Japanese auctions, Kandel, Sarig and Wohls, (1999) examination on Israeli auctions, and Liu, Wei and Liaws (2003) examination on Taiwanese auctions seem to suggest that IPO auctions lead to less under-pricing. Biais and Faugeron-Crouzet (2001) show that a uniform price auction can prevent tacit collusion among bidders and can truthfully elicit information from investors in much the same way as book building. Bulow and Klemperer (1998) also show that it can be optimal in an auction to set a price at which there is excess demand. 2.4. Research on IPOs in the Istanbul Stock Exchange (ISE) Firms in Turkey may offer their shares to the public through, book building, fixed price offer and sale through the stock exchange method, however, they are mainly underwritten and sold using the fixed- price offering method; a method which is very common world w ide is becoming much less common, particularly for more active markets. Recent empirical studies, focused mainly on the initial returns and under pricing, condu

Green School Initiatives Essay

Introduction – Kate The idea of â€Å"Green Initiatives† in schools at any age level is a positive step towards installing sustainability in the minds of future generations. To reduce the amount of energy needed, recycle rain water, lessen landfill space and cut the barrels of oil used by Americans daily; can insure that our natural resource will be intact for many years to come. However, obstacles to Green Initiatives are costs, program management and proper data collection. Is it possible to initiate Green Methods in schools and really save cash as a result? It is possible. Let us examine which eco-friendly ideas work for institutions and which do not. Relevant Facts – Mandy, Miranda, Kate, Tomika & Alicia Why should schools â€Å"go green? † When a school â€Å"goes green,† that school is making the choice and the commitment to make their school more environmentally friendly. This includes doing things â€Å"to reduce carbon footprint, or the amount of carbon dioxide emissions produced† (Whelan, 2007). More and more, taking care of the environment is becoming an issue among people. They all want to know what they can do to make their environment safer and cleaner. Schools are becoming no exception to this endeavor. It does not take much for a school to make a difference. It can be something as simple as recycling plastic water bottles or something more complex such as installing energy-efficient solar panels in the roofing. Today’s schools have become more environmentally aware and many would like to incorporate green learning and living into their school systems. The definition of a green school is â€Å"a school building or facility that creates a healthy environment that is conducive to learning while saving energy, resources, and money† (www. greenschool-buildings. org). A school can be green in many ways; primarily this paper focuses on how a school can best go green. Much of what is discussed is school construction and renovation; however we also highlight some other areas in which schools can initiate green methods. The nation’s schools are currently built to code and meet government health and safety standards; is this enough or is there a better way? A study was performed of 30 green schools built 2001 – 2006 in 10 states. Some highlights from that study include: ? Green school construction costs less than two percent more compared to conventional schools, at about $3 per square foot. ?Direct and in-direct financial savings to the school and community were about $70 per square foot – 20 times as high as the cost of going green. ?Green schools, on average, use 33% less energy than convention schools. ?Reduction of average water use by 32%. Because of the process of water storage the school created with their green design, the city of Dedham, MA valued the improvement at $400,000. ?Highly reflective green roofs life expectancy to last 30 – 50 years or longer. ?An average reduction of 38. 5% in asthma, over five separate buildings, due to improved air quality. ?Today asthma rates are rising 20-50% every ten years throughout the world (Holguin 2004) There are some other reasons that schools choose to get on the good side of the environment by going green. An important reason behind this decision is in an effort to â€Å"provide a healthy, productive, comfortable environment for students and staff† (Lafee, 2010). This is because going green calls for cleaner air If a school is more environmentally sound, it is more likely that there will actually be a decrease in students being absent because of the cleaner air. Building green is especially beneficial to those students that have breathing problems. Many schools, as they are going green, are beginning to install solar panels in an effort to conserve energy and create clean energy. What are the benefits of using solar panels? They range from â€Å"economic, health, environmental, and financial benefits† (What Are the Benefits of Solar Power? , 2010). By using solar panels in schools, the schools are saving money on their electric bills. Solar panels are allowing schools to cut down on air pollution. Rather than cleaning them every month, solar panels only have to be cleaned once a year. Solar energy panels also allow for the demise of deadly fumes from fuels such as kerosene and gasoline. This makes for cleaner air indoors, which leads to a decrease in respiratory issues. The use of solar energy panels does not put out carbon monoxide, so they improve the quality of air. Finally, using solar panels in schools will allow â€Å"children to understand the significance of green architecture and renewable sources of energy† (Solar Energy Finally†¦, 2010). Wind power is used through the use of wind turbines that are installed inside the school grounds. By installing wind turbines on school land we bring other benefits to the school. As with solar panels, wind power also decreases a school’s electric bills. Using wind turbines give schools certain tax breaks. Having a wind turbine also â€Å"adds an experiential dimension to the schools’ science, math, and civic classes† (The Benefits of Wind Power, 2010). There is a program called the Wind for Schools Project whose purpose is to â€Å"install small wind turbines at rural elementary and secondary schools while developing Wind Application Centers at higher education institutions† (Wind for Schools Project, 2010). The program basically educates schools on the use, as well as the benefits of, wind power. One of the biggest ways that schools are going green is by having the students recycle their empty plastic milk and beverage containers after lunch. Schools put recycling bins in their cafeterias in an effort to encourage students to put their containers in them rather than a garbage can. What are the benefits? Doing this â€Å"conserves resources, helps the environment, saves schools money on disposal costs, creates the volume needed to have a viable recycling program, and teaches children social responsibility† (Why Recycle Plastic Milk and Beverage Bottles? , 2010). An additional benefit of recycling plastic beverage containers is that leaks and odors are decreased because the plastic containers have caps on them, and the students are encouraged to replace the caps on the empty containers. The types of containers that are recyclable are â€Å"all plastic beverage bottles (i. e. milk, soda, water, juice) and aluminum cans† (Recycling Plastic Milk Bottles At School, 2010). While it is true that recycling in schools is dependent upon the school district, most school districts are on board with this form of going green. They are willing to make the accommodations that are needed for this endeavor. The concept of a school going green may be better understood by its students if they are a part. If they feel that they are part of something, it will make them want to try harder. Green schools offer other advantages that might not be immediately apparent. The school is actually a teaching tool. Think about it. High school students could actively learn about renewable energy from the school’s solar panels. The middle school students could study ecosystems in their own wetland. The elementary students could grow organic vegetables and eat them for lunch. The student(s) would receive the full green experience. An additional way students are applying these concepts in the classroom are in art classes, instead of having students use recyclable materials, allowing them to use materials from nature. This can include making projects with leaves, sticks, sand, or any other outside objects. Not only is this fun for the students, but it is also environmentally-friendly. â€Å"There are different ways to create a work of art using found objects† (Kauffman, 2009). Students who use natural objects are more likely to be inspired. And using natural materials is very cost-effective for the schools. This type of art is especially rewarding to smaller children. This is because they get to â€Å"play† with stuff. Normally would not have the chance to. Some elementary schools have started implementing â€Å"garbage art. † Garbage art supplies include â€Å"beans, rice, buttons, fabric, string, dry pasta, yogurt, dryer lint, pencil shavings, etc. † (Pedersen, 2010). For younger students, this type of art is more likely to be more fun than any of the aforementioned options. The opportunity that â€Å"green building† in schools provide to the students, teachers, and the community is substantial. Along with the health benefits, there are cost savings to the school and to the city the school is located in. Continued growth within the green initiatives and design benefit the country and the world environment overall. (www. greenschoolbuildings. org) When students are involved their moral is up, if student morale is up, the desire for students to learn also increases. A school that is more environmentally conscious benefits because their students will not only be learning how to help the environment, they will be implementing that knowledge as well. Schools that go green will positively impact student health in other areas than just cleaner air. Cleaner air results in higher test scores and teacher retention. Green buildings are designed with proper acoustics so the teachers can be heard and have more control of the classroom environment. Students are exposed to more natural daylight helping them perform at their individual best and avoid seasonal depression due to lack of sunlight. Another more energy-efficient practice is softer lighting in the classrooms. If a school has inadequate lighting, whether it is too bright or too dim, it can actually cause students to have headaches due to possible straining to read. If a school decides to go green in the way of softer lighting, it will be easier for students to see and cause less straining for them. On top of all these benefits to the children and staff there are operational cost savings with utilizing daylight, reducing energy and recycling water. Going green means that building repairs, upgrades, and system replacements will assist in lowering utility costs from renewal efforts. (www. greenschoolbuildings. org) Green schools generally do not cost more than a conventional school to operate. The costs are much less to operate a green school due to the efficient use of water and energy. A green school can typically save $100,000 in, in-direct costs in a given year. An estimated $20 billion could be saved over the next 10 years if all schools performed green renovations and all new schools were built green. (www. greenschoolbuildings. org) Other areas where schools can and are â€Å"going green† are as follows: †¢Recycling Programs – working with recycling brokers to recycle glass, plastic and paper †¢Using old material such as cardboard boxes as art supplies †¢Going â€Å"IT Green† – recycling computers, putting computers on standby when not in use and scanning copies instead of producing paper ones. Many schools are switching to low voltage IT servers. At the University of Buffalo’s Center for Computational Research they are switching to energy-thrifty supercomputer servers and saving $150,000 annually. (Carter 2009) †¢Taking advantage of assistance from organizations like the â€Å"Go Green Initiative. org† that helps train school staff in green teaching methods so they can teach their students. They also assists in obtaining grants for schools; give quarterly progress reports to schools and give tools to track and quantify your green savings. Clearly one of the biggest benefits of going green within the school systems is That it teaches our children how to live better and make the world a better place in which to reside. These are life lessons that people carry along with them into adulthood. So, in addition to saving the planet, saving money, and having healthier children; this concept will be carried on into the future. Incorporating â€Å"going green† into the lives of our children would install very much needed values and morals that they can live by as adults. Problem Components/Root Problem – Mandy & Kate Some green initiatives like recycling water or material require very little investment; however construction can be another matter. Building a new school or renovating an existing school to go green, one must look at the big picture not only individual costs. In lean times like these many communities do not have extra funds to invest, so a common barrier to green projects is initial cost. There have been many green projects through the years that have not worked out due to prohibitive upfront costs. There are groups that believe that the government should aid in jumpstarting these projects to make the initial investment more affordable. (â€Å"Green economy,† 2010) However in recent years these costs are going down as green building becomes more commonplace and supplies become more plentiful. In reality the cost of going green is not much higher than it is to stay conventional. Going green may take some project management and innovative thinking, but is not off budget. Perhaps the biggest complication regarding cost comes in when schools are converting an existing structure. â€Å"Green schools cost a little more to build – generally 1% to 2% extra – than conventional schools† (King, 2010). Another drawback for new green school construction lies in what can occur during the whole â€Å"going green† process, especially if the â€Å"green school† is being built from the ground up. â€Å"Permits, zoning requirements, and other bureaucratic obstacles imposed by planning commissions, school boards or other government agencies† (Kennedy, 2010). Whether it is a new school going up or a current school being re-modified, money plays a huge part in just how green a school can go. For example, a school may have the funding for more energy-efficient lighting, but not have the money for better and more efficient air ducts. Not having enough funding can put the halt to preventing a school from becoming more environmentally sound in a heartbeat. Another hindrance to a school going green is that often not everyone involved is on board with the idea. â€Å"The problem with America’s public education system is it’s failed to empower our communities, parents and teachers with the tools and authority they need to provide the quality educational experience our children need, expect and deserve† (King, 2010). This is basically saying that if the parents and teachers are not given what they need to provide a good, sound education for their children, in and out of school, then no amount of environmentally-correct changes to the school are going to be effective. In many areas of the country, the design requirements are not an additional burden in the price of the bids. There are many financial benefits to new green construction or renovating. Some benefits that accrue over the life of the building are reduced energy and operating costs, improved well-being and more cost effective insurance prices. (www. eda. gov) The US Green Building Council’s Leadership in Energy and Environmental Design – LEED, sets standards for green initiatives. LEED rates projects based on the materials used and how they are sourced, the design, construction, and efficiency of systems to include water, energy, air quality, lighting, acoustics, waste and transportation. (www. ecoliteracy. org) Generating and Evaluation of Alternatives – Miranda & Kate Like any large project this puts schools in the position of determining what best suits their specific needs. By setting up specific â€Å"implementation plans† based on needs and monetary ability we can simplify a schools decision. We can also allow them to make more gradual steps. In a perfect world with abundant funding all schools would be free to immediately make the necessary changes; unfortunately that is not a reality for most. Schools could choose to make their decision in the following ways: †¢Low investment – green initiatives taken independently- Analyze possible areas of immediate change on their own. Make changes in their everyday routine such as recycling or reusing bottles, paper, glass and plastics. Building a rain water catch system for water reuse. They can estimate the cost savings to the school and savings to the environment. This will expose the children to the concept of recycling and reuse while helping to teach them. †¢Medium initial investment – green initiatives taken independently – schools can independently address the low initiatives outlined in option one while also investing in larger improvements. These improvements could include low voltage servers, schedules for electrical output and using computers that go to â€Å"low power† usage when on standby mode. This requires more of an initial investment by the school but allows the school to see greater return in their investment in the form of cost savings. †¢High initial investment – green initiatives taken on independently – schools can independently address both medium initial investment items and renovations to existing structures (like solar panels) or the building of new structures. Ultimately this would bring the greatest cost savings to schools and would have the greatest impact to the student’s environment and green experience. †¢High initial investment – green initiatives taken on with assistance – schools can work with organizations like the â€Å"Go Green Initiative† from start to finish. Instead of â€Å"reinventing the wheel† and learning through experience schools can use the opportunity of organizations that are established just to help them. These types of initiatives provide communication with other schools about their â€Å"green† projects, educate schools staff to â€Å"teach green methods†, provide information on green building, provide data tracking and even educate the community. Schools can make changes at any level they desire and on their own time schedule. Chosen Alternative – Tomika & Kate We believe that schools and the environment would benefit most from a High initial investment – green initiatives taken on with assistance option. Schools can get assistance from many of these organizations for absolutely free and initiatives don’t have to start as high investment. You can make small changes like recycling and using the cost savings to fund student activities. You can reduce your energy waste by conserving water and turning off computers when not in use. Representatives from organizations like the Go Green Initiative can help you communicate the â€Å"why† to your community. They can help explain why green changes with be profitable to the school in the long term. Once the community has seen the short term savings they will be more open to more long term green projects. You need community support and open communication to successfully incorporate change into any public structure. Having an outside source will also give you vast data from other school districts that have gone through the same changes you are tackling. These organizations can assist you with measurements for your green savings, but more importantly they can also measure your savings to the environment; this is a huge tool that motivates entire communities and makes your school more marketable to new families. Implementation Plan – Tomika & Kate 1. Determine what your schools objectives are, what do you wish to achieve? 2. Speak with the school board and the community about their ideas, concerns and involvement with any potential project. 3. Contact several organizations like â€Å"Go Green Initiative† and get information on each of them to present to your board. 4. Discuss the different organizations with your board and the community and pick one to work with. 5. Convey to the organization assisting you what your goals and objects are, your budget concerns and specifications. Ask for ideas to implement immediately that will show short term return on investment and improve the school environment. 6. Have a training session and meeting to review all aspects with the school board, superintendent and any interested party. Establish six month goals that are specific, measurable, attainable and timely. Determine who is responsible for data collection and programs implemented. 7. Obtain data and review progress in six months. Proceed from there. Alternative Choice – Tomika The alternative choice would be to have schools manage the projects themselves, beginning with small. They could conduct their own research and check with other local schools to see what green plans have been successful for them. Most of the steps would remain the same as the chosen alternative but there would be more â€Å"legwork† to be done by the schools themselves. From finding green materials and contractors to studying alternatives it would simply be more difficult to get information. It would however be possible. There may be some people in the immediate community with experience that could assist the school with their green initiatives. Either way schools have to start somewhere and any changes are better than none at all when it comes to the environment. Conclusion-Alicia Going green is very crucial and relevant to the future of the children as well as the planet. Starting the green system within schools is the best thing to do in order to educate the children on the importance of saving the planet, keeping everyone healthy, preserving energy, and saving money. This allows the practice of â€Å"going green† while learning and living it at the same time. Today’s funding in schools is mostly low. Therefore having the option to transition from small changes and then building up to larger more substantial changes is vastly important. Even more important is communication within a community to reach a greater common goal and seeking assistance from an outside source can be a huge benefit when trying to better your community. References Benefits of Wind Power. (2010). Retrieved November 20, 2010, from http://www. northernpower. com/wind-power-basics/benefits-of-wind-power. php. Green school buildings. (n. d. ). Retrieved November 18, 2010, from U. S. green building council website: http://www. greenschoolbuildings. org/gs101. aspx Green school design: cost-effective, healthy, and better, for eduction. (n. d. ). Retrieved November 18, 2010, from Center for Eco literacy website: http://www. ecoliteracy. org/essays/green- school-design-cost-effective-healthy-and-better-education. Green economy. (2010). Economy Watch, Retrieved from http://www. economywatch. com/market/market-types/green-economy. html Kauffman, Rachel. (2009, July 13). Lesson Plans Using Objects Found In Nature. Retrieved November 21, 2010, from http://www. lessonplanet. com/directory_articles/art_lesson_plans/13_July_2009/48/lesson_plans_using_objects_found_in_nature. Kennedy, Mike. (2010, February 10). Overcoming Obstacles to Going Green. Retrieved November 19, 2010, from http://asumag. com/green/overcoming-sustainability-obstacles-201002/. King, Ledyard. (2008, July 31). Costs, Concerns Push Schools To Use Eco-Friendly Elements. Retrieved November 20, 2010, from http://www. usatoday. com/news/education/2008-07-31-green-schools_N. htm. Lafee, Scott. (2008). Going Green: Environmentally Friendly Schools Pay Off. Retrieved November 23, 2010, from http://www. csba. org/NewsAndMedia/Publications/CASchoolsMagazine/2008/Spring/InThisIssue/GreenSchools. aspx? p=1. Pedersen, Lisa. (2010, February 22). â€Å"Found† Art Materials. Retrieved November 28, 2010, from http://www. familynavigation. com/found-art-materials. Raderstrong, Jeff. (July 21, 2008). The Seattle Times. Retrieved December 5, 2010 from http://seattletimes. nwsource. com/htm/localnews/2008063326_solarpanels21m0. html Recycling Plastic Milk Bottles: Benefits and Getting Started. (2010). Retrieved November 30, 2010, from http://www. nutritionexplorations. org/sfs/schoolmilk_recycling_survey. asp. Recycling Plastic Milk Bottles At School Frequently Asked Questions. (2008). Retrieved November 22, 2010, from http://www. NutritionExplorations. org. Solar Energy Finally In The School Yards. (2010, October 25). Retrieved November 30, 2010, from http://www. renewablepowernews. com/archives/1914. Solar Panel Cost. Retrieved December 5, 2010 from http://www. solarpanelsedge. com/ar/solar-panels-cost. php The New Era in Solar Energy. Retrieved December 5, 2010 from http://greenfieldsolar. com/industry. php What Are The Benefits of Solar Power? (2010, February 9). Retrieved November 21, 2010, from http://www. alternativeenergyhq. com/what-are-the-benefits-of-solar-power. php. Whelan, Debra Lau. (2007, September 1). Going Green: Eco-Friendly Schools. Retrieved November 20, 2010 from http://www. schoollibraryjournal. com/article/CA647263. html. Go green initiative. (n. d. ) Retrieved November 17, 2010 from http://www. gogreeninitiative. org.

Curriculum Design Essay

Chapter 7 ASCD Yearbook Fundamental Curriculum Decisions, 1984 People cannot intelligently discuss and communicate with others about curriculum without first making very clear what their interpretation of a curriculum is. In this chapter, we will be thinking of a curriculum as a written plan for the educational program of a school or schools. Curriculum design them will consist of those considerations haying to do with the contents, the form, and the arrangement of the various elements of a curriculum. We distinguish between curriculum planning and instructional planning with curriculum planning being the antecedent task. Curriculum planners are forced to make design decisions almost from the outset of their work. The design decisions revolve around three important considerations: (1) the range of school levels and schools to be covered by the curriculum, (2) the number of elements to be included in the curriculum, and (3) the nature and scope of each of those elements. Each of these requires additional explanations. Decisions about the range of school levels and schools to be covered by the curriculum normally are mot very complicated, and the range usually coincides with the sphere of authority of the board of education. Districts may elect to plan a curriculum from kindergarten through grade 12; they may elect to plan one curriculum for the elementary schools and one for the secondary schools; or they may elect to direct each school unit to plan its own curriculum. Planning groups will have to decide about the number of elements to be included in the curriculum. Among the options for inclusion are: (1) a statement of goals or purposes, (2) a statement of document intent and use, (3) an evaluation scheme, and (4) a body of culture content selected and organized with the expectancy that if the culture content is judiciously implemented in classrooms through the instructional program, the goals or purposes for the schools will be achieved. To this list, some would add suggested pupil activities, instructional materials, and so forth, but these matters belong more rightfully in the domain of instructional planning and we will not consider them here. A few comments about each of these four elements will be helpful to the reader in understanding their import for curriculum decisions. Most curriculum writers would agree that it is desirable to include a statement of goals or purposes to be achieved by schools through the implementation of the planned curriculum. They may disagree as to what the goals ought to be, or they may disagree about the degree of specificity of the statements to be included. The most famous statement of goals or purposes for schools became known as the Seven Cardinal Principles of Education as formulated by the Commission on the Reorganization of Secondary Schools in 1918. They were health, command of the fundamental processes, worthy home membership, vocation, civic education, worthy use of leisure, and ethical character. There is less consistency among curriculum writers in terms of their insistence upon including a statement of document intent and use in a curriculum, and, in practice many curricula do not contain such statements. Curricula have, in the past, contained statements intended to reveal the philosophy or point of view of the planners but this is not what we mean by a statement of document intent and use. A statement of document intent and use should be forthright and direct about such matters as: (1) how teachers are expected to use the curriculum as a point of departure fur developing their teaching strategies, (2) the fact that the curriculum is the official educational policy of the board of education, (3) the degree of universality in expectancy with regard to the discretion of teachers in implementing the curriculum, and (4) the degree to which teachers are to be held accountable for the implementation of the curriculum. These are illustrative of the kind of statement that may be formulated, but each planning group will have to decide on the number and character of such statements. With the amount of emphasis put upon curriculum evaluation in recent years, some mandate with respect to the curriculum evaluation is a very reasonable option for inclusion in a curriculum. The most common method of pupil evaluation used in the past has been the standardized (norm referenced) achievement test. In most cases, there were no deliberate attempts to relate published curricula to the test batteries. Therefore, any leap in assumption about the directness of the relationship between curriculum content and whatever was measured by the tests was likely to be untenable. All the more reason for formalizing an evaluation scheme by including it in the curriculum. In one form or another, a curriculum must include a body of culture content that has been deemed by the planners and directing authorities to be important for schools to use in fulfilling their roles as transmitters of culture to the oncoming generations of young people. The basic curriculum question is, and always has been, that of what shall be taught in schools, and a major function of a curriculum is to translate the answer to that question into such forms that schools can fulfill their commitment and demonstrate that they leave done so. Most of the remainder of this chapter is devoted to discussion of this element of a curriculum; so we will leave it at this point. But it should be made clear that from these options as potential elements of a curriculum, there emerge two dimensions of curriculum design. One is the choice of and the arrangement of the elements to be included in the curriculum. The other is the form and arrangement of the contents of each of the elements internally. The design problem is greatest in the case of the form and arrangement of the culture content and it is the one most frequently discussed under the heading of curriculum design by curriculum writers past and present. . Culture Content-Knowledge-Curriculum Content A curriculum is an expression of the choice of content selected from our total culture content and, as such, it is an expression of the role of the school in the society for which the school has been established to serve. A word needs to be said here about the meaning associated with the expression â€Å"culture content.† Ralph Linton provided us with a classical and very useful definition of â€Å"culture.† He stated: â€Å"A culture is the configuration of learned behavior and results of behavior whose component elements are shared and transmitted by the members of a particular society† (1945, p. 32). The term â€Å"society† is ordinarily used to refer to a group of individuals who live together with common norms and shared frames of reference. Societies tend to generate their own culture and to transmit that culture to oncoming generations within that society. So long as societies and their cultures remained in a primitive state, their cultures were simple and could be transmitted to oncoming generations by direct contact between the young and the older members of the society. But as societies became more complex and the scope of their culture content increased so that the transmission of the culture content to the young could no longer be accomplished by direct contact in daily living, societies were forced to create institutions to take on the responsibility for all or part of the cultural transmission task. The school is one of those institutions. The church is another. Both of these institutions have unique roles to play in society, and they tend to transmit different culture content to the young. Parochial schools tend to do both. As Smith indicated in Chapter 3 of this Yearbook (not in this reading – JG), the culture content selected to be included in the curriculum of the school may be thought of as equivalent to the knowledge to which school students are to be exposed. In any case, it is critically important to be aware that not all culture content, or knowledge, accumulated by society comes under the purview of the school; curriculum planning is a process of selecting and organizing culture content for transmission to student by the school. The process is very complex, involving input from many sources, but the organized end-result of the process is the design of the curriculum. The most sophisticated mode of organization of culture content for purposes of teaching is reflected by the various disciplines such as history, chemistry, or mathematics. In addition to the established and recognized disciplines, school subjects have been created out of conventional wisdom m the applications of selected portions of the disciplines to applied areas of our culture such as vocational subjects, social studies, or reading and handwriting. In general, the separate subject organization of culture content has predominated in curriculum design. Another way of speaking about curriculum content is to refer to cognitive content, skill content, and value or attitudinal content. As Smith discussed more fully in Chapter 3, all three types of content represent knowledge in some from either in the form of direct knowledge or a knowledge base. The three forms have been used as a classification schema or a taxonomy for curriculum content formulation. Historic Curriculum Design Conflicts One must realize that tire basic curriculum question is, and always has been, one of what shall be taught in the schools. An immediate corollary to that question has been that of how shall what has been chosen to be taught in the school be organized so as to best facilitate the subsequent decisions about teaching and learning. Those two questions are the primary curriculum questions, and the organized decisions made in response to them culminate in a curriculum design. A few reflections about our curriculum past will illustrate settle of the conflicts in curriculum design that have taken place. In her study, Sequel observed that curriculum as we use the term today was not a subject of professional discussion until after 1890 (1966, p. 1). Rugg contended that decisions about curriculum content prior to the 20th century were decided primarily by textbook writers and textbook publishers (1926, Pp. Ill-11). It was not until 1918 that Bobbitt wrote the first definitive work on curriculum and since that time curriculum writers have directed their attention to the substance and organization of curriculum content (curriculum design) and to the processes of curriculum planning, implementing, and evaluating. By the early 1900, the stage had been set for the separate subjects organization of the culture content to be used in schools. In our very early elementary or primary schools, for example, pupils were taught to read, to write, and to compute; the subjects were called reading, writing, and arithmetic. Much later such subjects as geography, history, and civics were added to the curriculum. In our early secondary schools, pupils were taught a selection of subjects (disciplines) that were directly associated with the disciplines taught at the college or university. Even though the separate subjects organization of culture content was used before curriculum became an area of professional study, it is still with us. True, subjects have ben added and others altered, but it remains the dominant approach to curriculum design. The separate subjects mode of curriculum design has been significantly challenged only once in our history. That challenge came with the advent of the Progressive Education movement. A principal belief of the Progressive Education movement was its dramatic emphasis on the learner in school settings. A substantial portion of the Progressive emphasis on the learner was stimulated by John Dewey’s (1916) call for more active and less passive learning in schools. This focus on the learner when applied to the organization of curriculum content led to endeavors remove away from the separate subjects organization of tire curriculum content. The movemen away from the separate subjects organization (sometimes called subject-centered) was toward the integration, or fusion, of subjects under the assumption that such integration would not only facilitate learning on the part of pupils but would additionally make the knowledge, skills, and attitudes more easily available to the pupils in post-school life (the transfer problem). The basic process involved here was the fusion of the contents of two or more of the separate subjects into another organization in which the individual subjects lost their separate identities. As one might expect, names were associated with the various integration or fusion attempts. Figure 1 adapted from Hopkins (1941, p. 18) illustrates the variety of names associated with curricula resulting from integrative or fusion processes. Hopkins here polarized the subject curriculum and the experience curriculum. The broad fields curriculum was placed in the center so as to show that it had a reasonable num ber of the characteristics of the two extremes. Others as indicated on either side depending on emphasis. Space in this volume will not permit extensive description of curricula developed as part of the efforts to move away from separate subjects organization. The best we can do here is to identify some of them and cite sources for further investigation on the part of the reader. For example, in their hook The Child-Centered School, Rugg and Shumaker (1928) presented brief descriptions of the curricula of the Lincoln School, The Frances Parker School, and others of that time. In most cases, the curricula were built around child-centered units of work, but attention was focused as needed on such basic subjects as reading, mathematics, history, geography, and so forth. One of the most extreme departures from separate subjects organization was proposed by Stratemeyer and others (1957). The authors proposed the â€Å"persistent life situations† concept as a basis for dealing with the curriculum building issues of scope, sequence, continuity, balance, and depth. At the junior and senior high school levels, special mention should be made of the core curriculum. The core curriculum idea was to get away from nothing but the discipline-centered curriculum. Most core programs were organized around larger and more flexible blocks of time, and the content was generally centered on personal and social problems and problems of living. In many respects the core curriculum idea was an attempt to solve the general education problem in our upper schools. It is important to note that in practice in schools, curriculum design failed to get very far away from the subject- or discipline-centered design. The most lasting effect of the movement was the broad fields idea as represented by social studies, language arts, and general science, and they have persisted mostly in curricula for elementary and junior high schools. Contemporary Arguments About Curriculum Design Probably the most persistent movement in curriculum design in recent years has been the proposed use of specific behavioral objectives as a basis for curriculum organization. Curriculum writers have long proposed that curricula ought to contain statements of goals or objectives, but not as the only content of a curriculum. Some contemporary writers have proposed that curricula should be thought of in terms of the anticipated consequences of instruction, or intended learning outcomes. (For example, see Popham and Baker, 1970; Johnson, 1977). The culture content in such cases would either be implied in the objectives or be considered as an instructional decision. A distinct advantage of this type of curriculum design is that supervision of the implementation and of the evaluation of the curriculum is simplified and facilitated. Such proposals are in direct contrast to a proposal that a curriculum should he composed in four parts: (1) a statement of goals, (2) an outline of the culture content that has the potential for reaching the goals, (3) a statement of the intended use of the curriculum, and (4) a schema for the evaluation of the curriculum (Beauchamp, 1981, p. 136). They are in even greater contrast to those who would include instructional considerations such as suggested activities for learners and instructional materials to be used. Curriculum planners should be warned that the inclusion of all of these things produces fat and unmanageable curricula. With respect to the culture content of curricula, two organizational concepts persist both in the literature and in the practice of writing curricula. The first is the tendency to continue with the basic framework of the subjects, or disciplines, that are to be taught. The second is to break the subject areas down into three identifiable components: (1) cognitive, (2) inquiry and skill, and (3) affective (value, moral, attitudinal). Curriculum planners will probably wish to begin their thinking about design with the familiar, which will unquestionably be the conventional school subjects. They will consist of mathematics, social sciences (including social studies as a subject), the natural sciences, fine and applied arts, health and physical education, communications, and other languages. At the secondary school level, planners will add to these whatever vocational and technical subjects they may wish to offer. Some planners will wish to add an area that may be termed social problems, molar problems, or problems of living that may call for applications of elements learned in various conventional subjects. Curriculum planning is an educative process. For this reason classroom teachers should be involved in the undertaking. A very important reason for their involvement is that the process of curriculum planning presents an opportunity for them to engage in analysis of the culture content so that they may be more effective in their classrooms at the level of instruction. The analytic process of breaking down the culture content into cognitive, affective, and inquiry and skill components is one way that teachers may become mote knowledgeable about what they do. Also in this process of analyzing the culture content, the content is more specifically related to goals and at the same time it fosters better curriculum implementation. For these reasons, teachers’ participation in curriculum deliberations has been proposed frequently as a needed dimension of continuous teacher education. In Chapter 3, Smith raised the very important question of the utility of the culture content selected to be part of the curriculum content, and he posed several ways in which the utility of knowledge can be emphasized. In a more specific vein, Broody, Smith, and Burnett (1964) suggested on, potential uses of learnings acquired in school to he taken into consideration. They are the associative use, the replicative use, the applicative use, and the interpretive use (pp. 43-60). Very briefly, the associative use of knowledge refers to the psychological process of responding to a new situation with elements of knowledge previously acquired. The replicative use refers to situations that call for direct and familiar use of schooling such as when we read a newspaper, write a letter, or balance a checkbook . The applicative use occurs when an individual is confronted with a new problem and is able to solve the new problem by the use of knowledge acquired in the study of school subjects through previous experience in solving problems demanding similar applications. The interpretive use of schooling refers to the orientation and perspective the individual brings to new situations because the individual has acquired ways of conceptualizing and classifying experience. Much of the discussion about uses of schooling (especially use external to the school) is an elaboration of the transfer problem that has plagued educators ever since Edward Thorndike first set forth his theory of transfer through the existence of identical elements in 1908. The most easily explained is the replicative use as described above because of the direct similarity between the use external to the school and the mode of learning and practice in school. Take reading for example. Reading from school materials is directly similar to reading of materials outside the school. But when it comes to applying knowledge or making new interpretations or associations between knowledge required in school and life situations external to schools, a more complicated transfer situation exists. Unfortunately, many of the questions raised about utility and uses of schooling have not been answered through curriculum design. Nor are they likely to be because so much is dependent upon classroom teaching technique and the design of instructional strategies. The best efforts in curriculum design have been through the generation of new courses (subjects if you please) in which the content is purportedly more like life external to the school. Reference here is made not only to specialized courses such as technical, vocational, commercial and occupational courses but also to courses designed around molar problems, problems of living, and core programs. In many respects, the broad fields courses were designed for purposes of saving time during the school day and to facilitate the transfer of knowledge acquired. But whatever the curriculum design, if teachers are not aware of and sensitive to the kind of analyses of the content to be taught as we have been discussing it, the uses of schooling will not be maximized. All the more reason why teachers should be part of the curriculum planning effort and participate in the required dialogue. In summary, then, what courses of action with respect to curriculum design appear to be the most appropriate for today’s curriculum planners? The most important aspect of curriculum design is the display to be made of culture content once the content has been selected. The total amount of culture content is constantly growing thus making the problem of selection for curriculum content more difficult as time goes on. Unquestionably, the role of those schools (elementary and secondary) that operate under compulsory school attendance laws must constantly be examined in terms of what they should or should not offer in their curricula. The elementary school curriculum has always been designed with general education in mind. In our contemporary society, the secondary school seems to be moving in that same direction. Both, however, have seen fit to divide the content selected into realms or courses as appropriate. Scope and sequence have long been two major problems in curriculum design. The display of course content into topical outline is one way planners can watch for discrepancies in scope and sequence. It also helps with horizontal articulation among the various subjects. To help teachers generate greater insight into the content outline, it is desirable that the curriculum design reveal the expected cognitive, inquiry or skill, and affective outcomes. These are conventionally arranged in the design of the content in parallel with the topics in the outline. flow behaviorally the outcomes are to be stated is optional to the planners. These outcomes should also be thought of in terms of any goals or purposes that may be stated in the curriculum. What else to include in the design is optional to the plan. It has become quite conventional to think of goals or purposes first and then to select the content. Such procedure is quite arbitrary because all content is selected with some purpose in mind. Nonetheless, a statement of goals and purposes is a useful element in curriculum design. I would add to the topic outline and the expected outcomes a directive statement about the intended use to be made of the curriculum and a statement outlining a scheme for evaluating it.

My Personality Revealed And Defined By Pearson Education...

This paper explored facets of my personality revealed and defined by Pearson Education, as well as insights gained from our textbook, Type Talk at Work and The Gospel and Personal Reflections. With the results from the assessment test I will relate the different personality categories to how I operate in the organization, how I relate to others in the organization and life in the organization. Each of these categories will reveal scores that will signify high or low ability, consequently indicating where improvement is needed for better organizational results. Moreover, Dr.Fischer underscores that organizational behavior is predicated on individual behavior that’s affected by individual personality traits. Furthermore, the more we understand our personality type, the better we will be at understanding others. Likewise, grounded in my Christian worldview and framework we know that sin can also be found in our personality traits and it’s through the discovery of our fla wed selves, we can self- correct in our personal and corporate lives. Step 1 What About Me? After completing 20 assessments, I gained tremendous insight regarding my personality, values and attitudes, motivation, and decision making. The four most helpful assessments were Type A personality traits; Self-awareness; Job orientation; Career orientation, and call orientation; and lastly the creativity scale (Pearson Education, 2016). My personality, score 51, represents a healthy balanceShow MoreRelatedAnalysis Of Milhouse Mussolini Van Houten1743 Words   |  7 Pagesadminister the Minnesota Multiphasic Personality Inventory-Second Edition (MMPI-2) and the Behavior Assessment System for Children-Second Edition (BASC-2). Context and perception are very important concepts in deciding an assessment test s client appropriateness. Context is important because there may be more to a client s response on a test than what meets the eye, such as diversity issues, or explanations about the presenting problem that are not revealed by a test response. Perception, is importantRead MoreLeadership Assessment2437 Words   |  10 PagesWhat Is My Basic Personality? In the first assessment tool â€Å"What Is My Basic Personality?† the focus was on the five-factor model of personalities which are-extraversion, agreeableness, conscientiousness, emotional stability, and openness to experience. Based off this evaluation, my basic personality indicates that I am moderately extroverted because I scored a ten. My conscientiousness, emotional stability and openness to experience scores were high with a score of fifteen. My personality doesRead MoreThe Influence of Brand Loyalty on Cosmetics Buying Behavior of Uae Female Consumers6719 Words   |  27 PagesThe seven factors of brand loyalty are brand name, product quality, price, design, promotion, service quality and store environment. Questionnaires were distributed and self-administered to 382 respondents. Descriptive analysis, one-way ANOVA and Pearson Correlation were used in this study. The findings of this study indicated that brand name has shown strong correlation with brand loyalty. The research results showed that there is positive and significant relationship between factors of brand loyaltyRead MoreWhat I Have The Opportunity For Accumulate Experiences From A Multifaceted Of Earlier Experiences1804 Words   |  8 Pagesexperiences (i.e., sports, education, family, military, and church/work) in my life that has led to me becoming the leader I am today. I would have to say I am a product of life?s culture, it institutions, politics and economics. It has all shaped the type of leader I am and the contributions I?ve added to them and the individuals I came into contact with throughout my life. I realized as a leader that oftentimes had it not been for me taking it upon myself to make something happen in my life and or othersRead MoreReflection Of The Task Conducted By Me As A Group Member During Completion Of My Coursework3562 Words   |  15 PagesExecutive Summary This report is the reflection of the task conducted by me as a group member during completion of my coursework. The practical activities helped me to understand my stregth and weaknesses. The accomplishment of the tasks helped me to understand and identify strategies of self-development as well as motivate myself to become a better person in totality. Communication and social skill along with strategic management of situation are essential component of management but it is requiredRead MoreAn Experiential Marketing Case Study of Sony2334 Words   |  10 Pagesbrand in terms of experiential marketing concept. It contents true experience and observation of mine from an opening exhibition of Sony Corporation (see appendix 1) to be formed the primary sources of data. As an observer of the exhibition, I will use my own experience from it to combinative with experiential marketing concept theories to indicate the factors within Sony’s experiential marketing performance. This report will comprise a general idea of what experiential marketing is, and how it affectsRead MoreOrganizational Behaviour3984 Words   |  16 Pagesto serve some purpose, from which it follows that human activities in the entity are normally structured coordinated towards achieving some purpose or goals†.(Derek Rollinson, 2008 page 4). Now coming to organizational behaviour, it can be defined as â€Å"The Study of individual Groups in Organizations†. (Schermerhorn et al .2000, P3 cited in Derek Rollinson, organizational behaviour Analysis, 2008). As one of the other main issues to be discussed in this essay would be ‘The Role of management’Read MoreFactors Affecting Mathematics Performance of Laboratory High School Students at Laguna State Polytechnic University Academic Year 2009-20107649 Words   |  31 PagesPERFORMANCE OF LABORATORY HIGH SCHOOL STUDENTS AT LAGUNA STATE POLYTECHNIC UNIVERSITY ACADEMIC YEAR 2009-2010 A Research Presented to the Faculty of the College of Education Laguna State Polytechnic University Siniloan (Host) Campus Siniloan, Laguna In Partial Fulfillment Of the Requirements for the Degree of Bachelor of Secondary Education Major in Mathematics JENNILYN F. BALBALOSA 2010 LAGUNA STATE POLYTECHNIC UNIVERSITY Siniloan Host Campus Siniloan, Laguna APPROVAL SHEET This Research entitledRead MoreDoctorate9485 Words   |  38 Pagesarchetypes in building relationships with consumers and transforming brands into icons. I began my research for this review with Clotaire Rapaille’s The Culture Code and his discussion of the cultural mindset. From there I began to research case studies, theories, and research about the role imprints and archetypes play in branding and actual examples of companies that have successful utilized archetypes. From my research I found the importance of aligning company with a single archetype from the productRead MoreHigh School Student Essay20272 Words   |  82 PagesTeaching: Becoming a Professional, Second Edition, by Donald Kauchak and Paul Eggen Published by Prentice-Hall/Merrill. Copyright  © 2005 by Pearson Education, Inc. ISBN: 0-536-29980-3 Introduction to Teaching: Becoming a Professional, Second Edition, by Donald Kauchak and Paul Eggen Published by Prentice-Hall/Merrill. Copyright  © 2005 by Pearson Education, Inc. Learner Diversity Differences in Today’s Students T eachers begin their careers expecting to find classrooms like the ones they