10 Famous Economic Theories

10 Famous Economic Theories What Is An Economic Model? ChaptersThere’s More Than One Economic ModelEach Great Economist Has Their Own Economic TheoryOther Examples Of Economic ModelsFind Out More About Your Favourite Economic TheoryAn economic model seeks to explain our economic reality, for example why markets behave the way they do. What's more,  an economic model seeks to test an assumption or theory about economic behaviour. However, how this is tested depends on the model used.Sam Ouliaris, a senior economist at the IMF Institute, suggests that economists will use either a theoretical economic model or an empirical economic model to test their theories.He argues that whilst a theoretical model will focus on providing qualitative answers and predictions of an individual's behaviour or market behaviour, an empirical model will seek to provide numerical substantiation to such theories. Further, how simple, or indeed complex, a model is, will depend on the economist creating the model, and what aims they are seeking to achieve.The div ision of labour;Free trade; andA laissez-faire economic system, including the belief that markets have a tendency to self-regulate.It is interesting to note that Adam Smith was a most controversial figure in his time.One reason for the derision his writings were often subjected to was the fact that the economic model he proposed was so contrary to the political machine of his day.It just so happened that Adam Smith was alive in a time of great change in his country.He was a mere babe when Scotland signed the Treaty of Union with England, releasing his country of onerous tariffs levied by England and opening lucrative trade routes with the American colonies.Naturally, he was not aware of these events, young as he was but, in his later years, they surely must have played a role in his theorising of economic matters.When he was in his teens â€" now, surely able to grasp the ramifications of events, the Bank of Scotland suffered accusations of being Jacobite sympathisers. In 1727, that bank’s rival received its Royal Charter.The two institutions attempted to drive each other out of business. These ‘bank wars’ ended in 1751 â€" coincidentally, only a few years before our Mr Smith published his Theory of Moral Sentiments.Essentially, the overarching belief of this school was that markets should always move to be in equilibrium. For example, over time, any change to supply should be equalled by a corresponding move in demand.In this work, he alludes to ‘the invisible hand’ in his contemplation of the rich; namely that they are compelled, not by law but by a moral imperative to distribute onto the poor the necessities of life â€" presumably wages and/or goods.Turns out that Mr Smith was an economist by default; his theories were formulated on morality rather than on any fiscal sense. Thus it comes as no surprise that he is considered an Enlightened thinker!My economics teacher London is a classical economist!Laissez-Faire CapitalismThe theory of Laissez-fair e capitalism is closely linked to classical economics as well as thinkers such as Adam Smith.Far from the lackadaisical impression this term suggests, this economic theory rests on five fundamentals:The basic unit of any society is the individualThe natural right to freedom mustn’t be denied to any individualNature herself is a harmonious and self-regulating systemIndividuals must closely watch corporations and other entities of the State because of their inclination to disrupt (the Smithian) spontaneous order.Even today, we find evidence of this economic model. Shareholders have the right to review company balance sheets, for example. Governments also apply this theory by instituting oversight committees and submitting to external audits.The fifth, most important tenet is that markets should always be competitive. Here is where the concept of Laisser Faire runs into trouble!Governments routinely adjust interest rates to stimulate their economies, meet their target inflation rates or add value to their currency.While these practices could be considered manipulation, they are generally accepted as a legitimate means of maintaining an economy.Corporations, on the other hand, are not permitted such tactics.When a company artificially inflates its stock, it shows as more valuable than it actually is on the stock markets, effectively forming an economic bubble with nothing to sustain it.Such pump and dump schemes are illegal and the perpetrators are generally caught... not by individuals, as the Laisser Faire doctrine states but by government overseers.Those that advocate such a system argue that markets are effectively self-regulating and that as a result government interference in economic policy, for example through imposing import or export tariffs, is harmful. As such, to obtain the most benefit for all, capitalism should be free to run its own course.There are different types of economic modelling. (Source: CC BY-SA 3.0, Jarry1250, Wikimedia Commons)Marxism Karl Marx may be better remembered as a philosopher, but it’s equally true that he contributed much to the field of economics.His two major works in economics and economic history were:Title (English)Title (German)First PublishedAuthorsThe Communist ManifestoManifest der Kommunistischen Partei1848Karl Marx and Friedrich EngelsCapitalDas Kapital1867Karl MarxAs many will be aware, Marx was not an advocate of capitalism and saw many faults with the system, including conflict and instability.As divergent as their thinking was, Marx and Smith’s philosophies were grounded in the same plot: economic modelling must be driven by a moral code.Karl Marx believed no one person was any better, more worthy or more deserving than anyone else.That being the case, why should one have riches and the other not? Or, more specifically, why should anyone suffer any lack when there is enough for everyone to have at least basic necessities, education and health care?His philosophies flew in the face of the day’s commonly-held beliefs.Bear in mind that his pronouncements came at a time when everyone who was able was fighting to get rich.After the Revolutions of 1848, when most European monarchies were overthrown, the transition from serfdom to an economic model where people bartered their labour proved far more difficult than anyone had foreseen.Young Marx deplored the idea of people selling their time and abilities for just enough sustenance while those they laboured for essentially took the place of the so recently vacated nobility class.It might seem contrary that Marx had no problem with capitalism as an economic model. Rather, he baulked at the concept of capital; the propensity of workers to become the tools of the business owners.Contrary to thinkers such as Adam Smith, Marx believed that at the heart of capitalism was the history of class struggle itself. In an almost Hegelian-vein, Marx argued that ultimately it would be this struggle that would destroy capitalism and t hat it would drive society towards a new age of communism.Efficient Market HypothesisThe Efficient Market Hypothesis (EMH) is a theory within the field of financial economics and is often referenced in relation to investments and the stock market.Essentially, EMH proposes that an investor can never “beat the market” because the stock market reflects all possible available information. Although this theory is commonly referenced and used, it has been the subject of fierce debate and criticism, with detractors arguing, for example, that figures such as Warren Buffett have been able to consistently beat the market for decades.The Efficient Market Hypothesis supposes that all checks and balances are in place and working, that every entity is absolutely honest and that market fluctuations are always predictable.Essentially, it is an effective way of embracing Laisser Faire economics and the ‘Invisible Hand’ postulate; a combination which would naturally foster fair trade.Because these economic fundamentals are in place and working well, no entity â€" investor or business would be able to play the market  to their advantage.Were it not for the human factor, this would be a lovely, compact economic theory.Let’s examine the effects of international policy in America on world financial markets, just for illustration purposes.Information bias, the propensity to seek more information about a situation even though it has no direct impact on any action, is an example of cognitive bias that affects the economy.Will my earnings be safe? Will other countries want to buy my products?Will investors continue to support my venture in good faith even though it seems that this government intends to disturb the equilibrium we’ve so far enjoyed?Even after absorbing all the possible information about the situation, these entities resort to their own, perhaps irrational thinking about it. Past practice shows they would likely shed more volatile stocks in favour of buying gr owth stocks, often at a higher rate.This trend has a dual effect on the economy.For one, it reduces the value of the riskier stocks and compels investors to bypass them.On the other hand, others would profit by buying those neglected stocks at a reduced rate as well as from the over-reaction of those selling growth stocks.That would be the Buffett formula, in case you were wondering.Each Great Economist Has Their Own Economic TheoryAs we mentioned above, there is a wide range of economic theories in existence. However, if you want to study the most influential or widely-supported economic theories, try reading the key theories of major economists.The Invisible HandAdam Smith, an 18th-century philosopher, is a pivotal figure in economics and has been associated with the classical school of economics.One of Smith’s most famous concepts was that of the “invisible hand,” which he describes in his work The Wealth of Nations. Illustrative of a free market economy, Smith argued that there was an invisible hand that guided the economy towards balance and equilibrium, despite the self-interest of individuals.Adam Smith's economic model has been hugely influential. (Source: CC BY-SA 3.0, Guinnog, Wikimedia Commons)Keynesian EconomicsJohn Maynard Keynes is one of the most famous figures in economics, largely due to the wide influence that his theories had on global markets in the 20th century.The key tenet of Keynesian economics was the idea that the government should involve itself in the running of a capitalist economy.Specifically, Keynes argued that governments should spend more during times of economic downturn in order to stabilise the economy and raise demand for goods and services. This, in turn, should help the economy to grow.As with all of these economic philosophies, we have to look at what was happening in the world and with various economies, to get a real sense of what, exactly, the economist intended by his model.There is little argument among econo mists today that America’s Great Depression was caused by that country’s central bank, The Fed, not taking action in the face of the banking crisis.Actions that might have averted the monumental economic collapse include lowering interest rates and regulating banks.Prior to the Great Depression, banks in the US were largely unregulated; they had the power to print money to meet all of their fiscal obligations. The Fed made no corresponding moves, leading to a disparity of worth between the two systems.The ensuing monetary contraction led to panic, causing people to rush to banks and withdraw all of their funds.That is if funds were available for withdrawal.The Keynesian model revolves around the idea that, if the central bank had oversight and control of local banks, the depression could have been avoided.In times of slowing economy, the government must run deficits in order to keep people employed because private sector businesses cannot be counted on to invest enough in produc tion to keep the economy afloat.Such deficits may include lowering taxes and increasing government spending (which would represent a deficit in their budget).Although he is not without his critics, as his ideas marked a step away from Laissez Faire policies espoused by the likes of Adam Smith, there is no denying the influence Keynes’ theories have had.Friedman MonetarismMilton Friedman, a U.S. economist, was, in contrast to Keynes, an advocate for the free market, and has been closely associated with the theory of monetarism.The Keynesian model advocated for the government manipulating the economy through fluctuating tax rates and varying government spending to suit the times.Monetarism, on the other hand, advocates for the government controlling how much money is in circulation but taking no action.In other words: the government should focus solely on maintaining sustainable rates of economic ability.Believing that manipulation of money’s growth rate or, indeed, the supply of money itself would destabilise the economy, Friedman proposed a fixed money rule, whereby the supply of money would be increased by a set percentage each year.Friedman believed in keeping wages and prices flexible as part of a Laissez Faire economy. In particular, the theory of monetarism argues that the amount of money in supply within an economy should be kept constant, with just enough room to grow naturally.As such, in contrast to Keynes, the concept of monetarism goes against proposals or suggestions for excessive government intervention or regulation.The monetarist economic theory calls for the government to keep their hands off of your money! Source: Pixabay Credit: JarmolukOther Examples Of Economic ModelsNew economic theories and models are developing all the time, and there have been major contributions to new economic fields, such as behavioural economics, over the past fifty years or so. We outline some of the more recent economic theories that any economics student or u niversity graduate should know about below.Asymmetric InformationThe concept of asymmetric information was brought to prominence by three economists:George Akerlof;Michael Spence; andJoseph Stiglitz.The argument is that, in a transaction, often one party (usually the seller) has access to more information and knowledge than the other party (usually the purchaser).Information asymmetry is not solely an economic problem: military leaders constantly miscalculate their prospects of victory â€" a classic case of information asymmetry.We see examples of unequal equations everywhere today: we don’t really know if North Korea is continuing to operate their nuclear facilities, whether the forces of ISIS really are decimated or how the European Union will trade with us post-Brexit â€" no matter what they say.In a perfect world, such negotiations would function like a chess game: all the pieces on the board and all of the possible moves obvious to anyone who studies the pieces.The implicatio n of this theory is that, contrary to some economic models that assume perfect information symmetry, markets do not, in fact, operate in this manner, and that the existence of asymmetric information can lead to “adverse selection.”Prospect TheoryDaniel Kahneman and Amos Tversky were the minds behind prospect theory. The theory posits that individuals, contrary to the assumptions in most economic models, are not always fully rational decision makers.Kahneman and Tversky used their research to argue that individuals value gains and losses differently, with greater emphasis placed on possible gains than possible losses. For this reason, this theory has also been described as the “loss aversion” theory.As a result, Kahneman and Tversky argue that some of our decisions are based more on emotion and our memories than logic. This theory falls within the field of behavioural economics and can be used to illustrate why people sometimes follow less than logical behaviours in financial markets.Game TheoryGame theory has wide-reaching applications, from  psychology to politics and  biology to  business.Naturally, it has also been welcomed within the area of economics. Essentially, the theory studies human conflict and co-operation in times of competition, and the strategies that individuals adopt as a result.You could say that Game Theory as applied to economics underscores the principles of classical economics:Division of labour: ‘players’ help each other outFree trade: participants assign their own values for bartering.Laisser-Faire: the game’s outcome would be self-regulatingThe Invisible Hand component refers to every game participant’s common sense of fair play and equanimity.Game theory has helped to address some issues that could not be explained by other schools of economic thought. For example, game theory helps to explain the concept of imperfect competition, which not all economic models allow for.One of the first pioneers of the field was John von Neumann, although there have been many other contributors, such as John Nash, who developed the Nash Equilibrium.Game theory is becoming an increasingly popular economic theory. (Source: CC BY-SA 2.0, brewbooks, Wikimedia Commons)Find Out More About Your Favourite Economic TheoryAlthough there are a number of economic theories and models out there, it’s worthwhile spending some time familiarising yourself with the most famous economic models. You can do so by reading books on the subject. This is for a variety of reasons, not least because:You can learn more about a particular school of economic thought;You can develop your understanding of a major economic thinker â€" from Keynes to Friedman; andYou can help improve your knowledge of your course or university curriculum.The best way to learn about particular economic models is to read the relevant works by their proponents, for example, The Wealth of Nations or Das Kapital, but if you need any extra help understanding key eco nomic theories you could also turn to a tutor for help, especially if you don't have the time to read every major economic text in detail.If you decide that an Economics tutor would be the best way to help you learn more about these important economic theories, then you could look for your A Level Economics tutor on an online tutoring site. Sites such as Superprof have a range of economics tutors who are very familiar with all the major economic theories listed above, and they would be happy to help you deepen your knowledge of these models.Superprof has economic tutors online!If you'd like to read up on the financial crisis of 2008, click here.

Learning Hindi Online

Learning Hindi Online All You Need To Know About Learning Hindi Online ChaptersWhy Learn Hindi?Learn Hindi Online Free Of ChargeWhere To Find Hindi Lessons OnlineLearning to speak a new language is not quite as straightforward as learning your alphabet.There are so many different ways that a learner can tackle learning a new language, and this normally depends on their level (usually they are beginners or intermediate level) and which learning tools they respond to best.For instance, some may be perfectly happy to be proactive and scour the Internet to find useful resources, whereas others may feel completely lost without the guidance of a tutor or structured online lessons.Well, we think we have solved this for one and all... using the Internet, namely structured apps or lessons, is a great balance between signing up to an expensive  language course / hiring a Hindi and English speaking tutor and getting by all on your own.While the Internet is so vast in content, the way we use this data has changed so much in recent years and we are able to find what we need much quicker thanks to smarter search engines, cookies, and more specific, professional websites which in turn helps to teach us more.The Internet bots are always hard at work sussing out which content is best suited to us and our needs. Photo credit: eleZeta on Visual huntKeep reading to find out how your second language journey could be made much easier with online Hindi lessons with a tutor!

UCAS Workshop

UCAS Workshop We like things to be fair, so we were excited when The Access Project asked us to run a workshop to help with university applications in schools where most kids don’t go to university. Research done by the Sutton Trust suggests that even amongst schools with identical A-level results, some are much more likely to get pupils accepted into a top university than others. [1] One of the reasons for this is to the all-important UCAS form. The Sutton Trust research found that independent school applicants are more likely to submit carefully crafted UCAS statements. State school applicants, by contrast, appeared to receive less help composing their statement, and often struggle to draw on suitable work and life experience. [2] Clients often engage tutors to help their child with their university admission. So, we have joined forces with the Access Project to run a series of workshops to ensure some of London’s most deprived students have the best chance of creating a winning UCAS application. The workshop includes sessions on the choices available to students and includes support for individuals in composing their personal statement. We are immensely proud of the sixteen Tutorfair educators who are taking part and wish the students they help a huge good luck in their applications. The pilot workshop is on 6 February - contact us if you’d like to help. [1]  (http://www.suttontrust.com/research/degrees-of-success-he-destinations-tables/ see pages 6-7) [2]   (http://www.suttontrust.com/news/news/personal-statements-help-independent-school-students/)

On-Demand Tuition App Launch featured on ITV News

On-Demand Tuition App Launch featured on ITV News The need for On-Demand tuition has never been clearer.  6 out of 10 students  on free school meals  will fail  their English and Maths GCSE's this year.  Without these qualifications, opportunities for these already disadvantaged children are  further  reduced. For children in fee-paying  schools the figure is only 1%. This  attainment gap  is why Tutorfair is doing its part to give every student access to the best tutors. Tutorfair On-Demand Tuition App Launches To tackle this inequality, the  Tutorfair Foundation has launched an innovative new app - Tutorfair On-Demand. The app, as  featured in the  Evening Standard  and  ITV London news,  gives children at our partner schools  access to top tutors from wherever they are. Last week we launched the app in 5 London secondary schools including Oaklands School in Tower Hamlets. Initially the app will deliver maths tuition as this is a subject where many need extra support. Once the app is up and running  successfully, we aim to roll On-Demand tuition out across the country. All of us at Tutorfair are excited for the potential to  change children's  lives. Through the app we will be able to reach children in remote parts of the country. This will bring tuition to children who have never had  this kind of opportunity before. Volunteer  On-Demand through the  App To meet the demand from pupils we need more volunteers. Are  you are passionate about maths and dedicated to helping young people? You can help us  deliver high-quality tuition through the app. If you are  reliable and resilient and have an A or B grade at A-Level (or equivalent) in maths then volunteer with us.  To get involved  visit the Foundation page  today, learn how to  join our team of  tutors and volunteer on demand. Are you a student that is already registered with us?  Click to Log in to Tutorfair On-Demand  to access free maths tuition. Expert tutors are online and available to help: Monday - Friday 6pm to 9pm Saturday - Sunday 5pm to 8pm

Everything You Need to Know About Language Conversation Exchanges

Everything You Need to Know About Language Conversation Exchanges Everything You Need to Know About Language Conversation Exchanges Word on the street is that all the kids are doing LCEs.Oh, sorryâ€"are you new to getting your language learning kicks  online?Thanks to the Internet, the world is your oyster. It turns out that language learning  on your own terms  can be  fun, interactive and exciting.When you want to start interacting with native speakers and practicing conversational skills, youll want  to know all about the LCE experience. Far from the classroom with its recorded listening tapes and prompted conversations with other beginners, an LCE, or  language conversation exchange,  gets you speaking like a native faster through pure immersion.To do an LCE, you will meet with a native speaker of your target language and converse with them, alternating between your language and theirs. You exchange your knowledge of English (or another language you know well) for their knowledge of the foreign language youre learning. It gives you experience of real, one-on-one communication, a chance to converse and listen. This is vital to helping you learn quicker, better and with more enjoyment.Sounds pretty great, right? An opportunity like this must rapidly accelerate everybody’s language learning, right? Sadly not. LCEs often fail or fade out, and their magic potential for language transformation is lost.Luckily for you, I am going to spell out how to find, create and maintain an LCE that explodes your language learning as you know it and catapults you into a new level of fluency. And you might even make a friend along the way! Everything You Need to Know About Language Conversation ExchangesWhy Should I Do a Language Conversation Exchange?Before you start scouting for a buddy, it is vital that you know what you want this exchange to do for you. Do you want a structured and challenging test of your linguistic abilities? A mate to hang out and relax with? What is most important to you?People have all sorts of reasons for seeking out an LCE, from pure love of language to understanding a new cu lture, finding a new friend in an unfamiliar place or having someone to reassure them that they are doing fine when they order drinks in a funny accent.If you know what you want to get out of  your LCE, you are more likely to find it.  You won’t waste time with vague feelings that  this isn’t really what I was after. No time for that! You have a language to master!Sit down for five minutes and brainstorm why you might be  looking for an LCE. Then choose the three main pointsâ€"all related to what you want to achieve and experience. Make a note of them and refer back throughout your LCE to see if you are getting what you originally wanted.Know what youre looking for? Great! Lets go get it!How Can I  Find My Language Conversation Exchange Buddy?If you are looking for an online buddy then the internet is your oyster! Start right here with the FluentU iPhone app  or Android app.  Find a system that suits you with this amazing comprehensive list of high quality languages exchange sit es.I personally recommend Hellotalk to find a buddy in your target language. It is free, you are linked up instantly and you can keep searching until you find your perfect buddy. This works as a good introduction service. Later you can decide if you want to just text or maybe progress to Skype chat or beyond.Skype isnt necessarily the end goalâ€"its actually a fantastic place to start! Check out Skypes  community message boards for people looking for a partner. Skype language lessons  attract speakers of all languages and you can find many offers for languages exchanges there.Couchsurfing  also has a great community forum you can log into and post on for buddies.  Here you can find kindred spirits who enjoy travel and adventuring.These are my personal favorites. Check out the links above and see what works for youâ€"and dont be afraid to get out there and explore more options!As for those of you lucky enough to actually be  living abroad, it is even easier to find a buddy. Utilize c enters of educationâ€"universities, schools, cultural centers. Leave an advert and a contact number there. Many universities offer a “Tandem” or language exchange service. Contact local TEFL teachers, tooâ€"they can give you contacts to their best and keenest students.Being the foreigner in your town, many people would welcome the opportunity to learn with you. Ask your friends, ask your colleagues. Somewhere out there is your perfect LCE party waiting  eagerly  to set out on a language adventure by your side.How Do I Recognize My Ideal LCE Partner?Be discerning at the start. The better suited you two are for one another, the better your chances of having a successful LCE. Gut feeling is a good indicator. Is this person interesting to you? Do  they have a similar personality and lifestyle? Would you choose to chat with them normally?Then there is level. It is not necessary to have someone the same as you in ability and fluency. Even a total beginner and a near fluent speaker can help each other wonderfully as long as both are fulfilled and getting what they want.Next, find out what your potential buddy wants from this exchange. Can you help them? Do they seem interested in helping you?This last point is very important. Do they want to help you as well as improve their own level? Be sure you have a partner who you feel comfortable with, who seems supportive, patient and interested in your motivations and desires. People sometimes forget that speakers of a global  language like English also want and need to improve their second language skills. Make sure your buddy is a team player before you move forward!Okay, Got My Buddy! But How to Start?Be flexible at the beginning. The relationship will take its own shape. That said, it is good to set some starting rules:How often will we  meet? At least once a week is best to keep things progressing nicely, but the more you meet up the better your speaking skills will become. Do not try to overwhelm your buddy with to o many meet ups if they have a busy schedule, but be sure that you express your goals in terms of frequency.How will we  divide the languages? The most common format is to speak for half  the time in your language, half the time in theirs. But it is up to you and your partner. You could alternate weeks or come up with your own system. Bear in mind though that extended language immersion will deepen your skills, so try not to flit between languages too quickly and too often.If you are in an online LCE, you have the advantage of at least some written communication. That means you can post a short summary of the guidelines of your desired LCE to your buddy. Feel free to keep in touch via online messaging in between your meet ups.Where will  we meet?  If you have a physical meeting, then vary the location. This makes each session unique with its own set of challenges and learning opportunities. Go to a museum or a park. Meet at your house or at your buddys. Not only will you be more sti mulated by each meeting thanks to the varying scenery and topics of conversation, you will come across new vocabulary and challenges too.If you are meeting online, there is no reason not to explore cyberspace together! Play games, have fun. Sometimes you can Skype for talking practice.  Sometimes you can text chat so that your buddy can give you writing tips. Try different chat rooms and experiment with different conversation sites. Maybe you can even go on a SIMS adventure together!The Time Has Comeâ€"What Should We Talk About?Try to keep the topics of discussion diverse. At the start, you can focus on getting to know each other, but your LCE will be much more fun if you deliberately address different areas of conversation.This is especially relevant for online LCEs because we all spend a lot of time on the computer and are distracted by Facebook, background events, etc. Planning varied and fun themes ensures that your LCE is the only thing on your mind when you turn on your comput er. By avoiding distractions and staying focused on a topic, you will get the absolute most from the exchange.Role play and explore situations. This can work as well through Skype as in person. Your buddy can prep you for possible job interviews or interactions with trained staff. Role plays are a great way of both minimizing nerves (by pretending to be someone else) and becoming adept in situations you may need in real life. And they do not need much preparation. Just set a situation and think of a few points that may come up. Believe me, it is less effort than preparing nothing and then forcing conversation about the weather and your summer plans.If your language has a formalinformal function, as most languages do, you can choose to speak one week formally and discuss  more professional  topics such as your  career. Then the next week you can devote to casual speech and slang words.Get practical. Put yourself in real situations. Explore language through food! Go to dinner or to th e pub together, order food and pay the bill. Agree to take your native buddy around town without guidance so that you read the maps and you ask for directions when you get lost. Go to an art gallery and explain how each picture makes you feel. Take the train and describe the route to your buddy.Maybe you want this to be very low-key and laid back. That is fine as long as it is what you and your buddy both want. But remember that variability and challenging yourself will take you farther faster. You are going to meet loads of foreign speakers to chat and hang with once your language level starts accelerating. Why not use this novel opportunity to its maximum potential?This was fun. When shall we meet next?  Always end with a new time to meet. This is important for motivation and so that your LCE does not get swallowed up by the busyness of your lives. Having  research to do,  a role-play to plan or a topic to mull over means that your mind will stay on your LCE all week.How Do I Know My LCE Is Really Working?Want to be sure that you are getting the most out of your LCE experience? Want to rest easy knowing that you are making tons of great progress thanks to your new buddy?Make a goal for your LCE, whether it be to widen your vocabulary, increase your confidence or simply be able to order drinks by yourself (with or without laughter). This main goal gives you something to aim towards. Then you can set up small, achievable goals for each meeting, such as:Go out for dinner and talk to the waiter all nightHave a basic discussion about the political background of this countrySurvive a 30-minute conversation without giving in and reverting to EnglishThis does not need to be a structured thing with charts and progress boards. Just keep it in your own mind. Keep your focus on what you want to achieve and how that is going. This will keep your LCE alive and useful for you and make sure that you know you are progressing.It is also up to you to set the level of correctio n you want from your buddy. If your aim is confidence, then just relax and talk as much as possible. If you want to nail your grammar, then ask them to point out and explain mistakes. You can set yourself specific goals for each session, for example:Today I want to use conditionals correctlyI am  bored of using the same adjectives all the time. Today I will experiment with more advanced and unusual onesOnce your buddy knows your aim they can help you reach it and give you feedback and advice.How Do I Keep My LCE Fun?Treat it like any other important relationshipâ€"invest your time and energy in it. Commitment and regular communication are important to keep your LCE a part of your life. Be excited about it. Goal plan and reflect on how each meeting went and what you each got from it. What could you improve next time and how could you better help your partner? Once your LCE is something you are excited about, it will stay on the front page of your attention span.How to End My Language Conversation Exchange?For whatever reason, LCEs are sometimes quite short. Maybe you just needed that initial boost to get you going in your new language or to find a group of friends. Maybe you or your buddy is super busy now. Thats okay, it usually has to end sometimeâ€"and you can always keep in touch in the future if you like.But do make sure you end your LCE fittingly. It has been an adventure and a learning process for both of you. Go for a final dinner or drink together. If you are online make sure you schedule that final webchat or Skype meet. Chat about what you learned and what was fun and think about your plans now.How you will keep improving your language? Did you get what you wanted? Did you push yourself and reach new boundaries in your new language? Are you still hungry to go farther, to get even more fluent, confident and capable?If so…there are a million other LCE partners waiting for you. Whether online or in your town, reach out to them. Rememberâ€"each human b eing is a whole new world. For you, that is a whole world of new knowledge, understanding and learning. Use this opportunity to your advantage!

New Years Language Challenge Video Pledges (Part III)

New Years Language Challenge Video Pledges (Part III) See Who’s Taking this Year’s Challenge If you are taking this year’s challenge we’re  giving away 50 free ITC if you make a video challenge pledge.Life Hacks research  has shown that if you put yourself up to something by doing it in public, you follow through because others are watching.  So use peer pressure to your advantage!  So help out your fellow language learners participating in the challenge!  Leave them words of encouragement on their notebook entries!  And don’t forget to sign up for yourself, and get 2015 of to a great start! This is  the second blog listing of New Years  Language Challenge Video Pledges.  Watch the videos from the previous posts below. Weve had so many that its better to just make multiple posts so they dont get too long! Part I Here Part II Here Iván Vallés Pérez  from the Spain is learning  English Iván is a data analyst and is taking the challenge  because he wnats to improve his English fluency. His goal is to be able to speak to English speakers without any problems and is committing to taking two 1 and 1/2 hour sessions per week for the Challenge! Please cheer him on here. Holly from the United States is learning French. Holly is going to graduate school in Paris  next year, so she wanted to improve her French as quickly as possible.  Her goal is to speak with a native french speaker for 1 hour a week for the next 6 weeks.  We wish her the best in the challenge and hope she finds her experience in Paris to be very rewarding.  Cheer her on! Amy from China is learning French and Portuguese. Already fluent in English and Chinese, Amy has been taking French for a year and wants to add Portuguese to her repertoire as well. She wants to to be able to speak in French for 30 minutes with a native speaker without frustrating the other speaker.   With regards to Portuguese, she has the same goal but only wants to speak for 5 minutes.  Wish her luck! Mr. Coffee from France is learning English. Mr. Coffee wants to improve his English over the next 6 weeks.  He hopes to come as close as possible to being able to speak like a native English speaker.  English is certainly not an easy language to learn so we wish him all the best in his  endeavors.  Cheer him on! Zhang Drawping from China is learning English Zhang Drawping (who also goes by the name of P!nk Zhang) hails from Shenzhen, China and is a Product Designer for Fisher Price. She wants wants to improve her English over the next 6 weeks. As you can tell from the video, she already speaks very well but still feels like she can speak more fluently as she needs to use her English for work. Her goals are to improve her confidence and fluency. Please everyone cheer her on for this challenge! Aravinth from India is learning German Aravinth is starting from scratch and speaks no German and he hopes that this language challenge will give him the ability to reach A2 level German and the ability to understand very basic German conversation. Were always impressed with challengers who begin a new language from scratch! Send him some words of cheer her on as we all know how hard it is to learn a new language from scratch Pierre Bredel from Brazil is learning French and English Pierre Bredel should be given a medal. This is his 3rd consecutive Language Challenge. Hes finished and made Public Video Pledges for the past 2 challenges as well. Hes continuing with his English and French studies and hoping to bring both languages to the next level. Send your words of encouragementto Pierre and wish him the best! Nancy Wang from the United States is learning Chinese Nancy is another past winner of our previous Language Challenges. She actually participated in our 2014 New Years Language Challenge (view her 2014 Public Video Pledge here)and won that and is now taking her Chinese to the next level by taking on this years challenge. Shes at a solid intermediate level and wants to improve her natural speaking and listening ability as well as her self-confidence speaking Chinese. Give her some words of support here! Click here to view her 2015 New Years Challenge Public Video Pledge here Lauren from the Barbados is learning Korean We got our first Video Public Pledge from Barbados! Lauren is learning Korean because shes always wanted to learn the language but has never really gotten around to it. Another very important reason is that she really wants to understand her Korean dramas (and not wait until the English subtitles are added). After the Challenge she also hopes to be able to have a conversation in Korean. Cheer Lauren on here by commenting on her Notebook entry! AndrewR756 from the United Kingdom is learning Russian and Vietnamese AndrewR756 wins the award for most unusual language pair that he is learning for the Challenge Russian and Vietnamese. Hes going to be doing this as well as an hour of listening each day. He also pledges to do an after video once the Challenge is completed. Were all rooting for you! If youd like to send him some words of encouragement, please comment on his Notebook entry here! Mulliro from Brazil is learning Russian Mulliro is a Community Tutor on italki and teaches Portuguese As you can see and hear in his video, he already speaks at a basic level but he really wants to bring up a level. but hes also taking the Challenge to really improve his Russian. Please cheer him on by leaving a comment on hisNotebook entry here! Maxine from the United States is learning Spanish Maxine has always wanted to learn Spanish and will be travelling to Spain in May. Her goal is a very practical one she wants to be able to use Spanish when she travels to Spain in bars, restaurants etc Shes picked some very popular teachers so she will try to fit in as many sessions as she can when they are free. Please  cheer her on! Tom from the United States is learning Italian and Russian If you need some inspiration on learning a language, you need to watch this video. Tom is a Polyglot and this is his 4th straight Language Challenge where he is now taking on Italian and Russian. As he states in his notebook entry, For the previous ones, I have improved my french and Norwegian. (Norwegian) The previous challanges have helped me alot to speak more quickly, travel in europe, and find friends I otherwise wouldnt have met at all. Tom is one of those inspirational challenger that you aspire to be. Please cheer him on for this challenge! Hes only learning 2 languages this time around ?? New Years Language Challenge Video Pledges (Part III) See Who’s Taking this Year’s Challenge If you are taking this year’s challenge we’re  giving away 50 free ITC if you make a video challenge pledge.Life Hacks research  has shown that if you put yourself up to something by doing it in public, you follow through because others are watching.  So use peer pressure to your advantage!  So help out your fellow language learners participating in the challenge!  Leave them words of encouragement on their notebook entries!  And don’t forget to sign up for yourself, and get 2015 of to a great start! This is  the second blog listing of New Years  Language Challenge Video Pledges.  Watch the videos from the previous posts below. Weve had so many that its better to just make multiple posts so they dont get too long! Part I Here Part II Here Iván Vallés Pérez  from the Spain is learning  English Iván is a data analyst and is taking the challenge  because he wnats to improve his English fluency. His goal is to be able to speak to English speakers without any problems and is committing to taking two 1 and 1/2 hour sessions per week for the Challenge! Please cheer him on here. Holly from the United States is learning French. Holly is going to graduate school in Paris  next year, so she wanted to improve her French as quickly as possible.  Her goal is to speak with a native french speaker for 1 hour a week for the next 6 weeks.  We wish her the best in the challenge and hope she finds her experience in Paris to be very rewarding.  Cheer her on! Amy from China is learning French and Portuguese. Already fluent in English and Chinese, Amy has been taking French for a year and wants to add Portuguese to her repertoire as well. She wants to to be able to speak in French for 30 minutes with a native speaker without frustrating the other speaker.   With regards to Portuguese, she has the same goal but only wants to speak for 5 minutes.  Wish her luck! Mr. Coffee from France is learning English. Mr. Coffee wants to improve his English over the next 6 weeks.  He hopes to come as close as possible to being able to speak like a native English speaker.  English is certainly not an easy language to learn so we wish him all the best in his  endeavors.  Cheer him on! Zhang Drawping from China is learning English Zhang Drawping (who also goes by the name of P!nk Zhang) hails from Shenzhen, China and is a Product Designer for Fisher Price. She wants wants to improve her English over the next 6 weeks. As you can tell from the video, she already speaks very well but still feels like she can speak more fluently as she needs to use her English for work. Her goals are to improve her confidence and fluency. Please everyone cheer her on for this challenge! Aravinth from India is learning German Aravinth is starting from scratch and speaks no German and he hopes that this language challenge will give him the ability to reach A2 level German and the ability to understand very basic German conversation. Were always impressed with challengers who begin a new language from scratch! Send him some words of cheer her on as we all know how hard it is to learn a new language from scratch Pierre Bredel from Brazil is learning French and English Pierre Bredel should be given a medal. This is his 3rd consecutive Language Challenge. Hes finished and made Public Video Pledges for the past 2 challenges as well. Hes continuing with his English and French studies and hoping to bring both languages to the next level. Send your words of encouragementto Pierre and wish him the best! Nancy Wang from the United States is learning Chinese Nancy is another past winner of our previous Language Challenges. She actually participated in our 2014 New Years Language Challenge (view her 2014 Public Video Pledge here)and won that and is now taking her Chinese to the next level by taking on this years challenge. Shes at a solid intermediate level and wants to improve her natural speaking and listening ability as well as her self-confidence speaking Chinese. Give her some words of support here! Click here to view her 2015 New Years Challenge Public Video Pledge here Lauren from the Barbados is learning Korean We got our first Video Public Pledge from Barbados! Lauren is learning Korean because shes always wanted to learn the language but has never really gotten around to it. Another very important reason is that she really wants to understand her Korean dramas (and not wait until the English subtitles are added). After the Challenge she also hopes to be able to have a conversation in Korean. Cheer Lauren on here by commenting on her Notebook entry! AndrewR756 from the United Kingdom is learning Russian and Vietnamese AndrewR756 wins the award for most unusual language pair that he is learning for the Challenge Russian and Vietnamese. Hes going to be doing this as well as an hour of listening each day. He also pledges to do an after video once the Challenge is completed. Were all rooting for you! If youd like to send him some words of encouragement, please comment on his Notebook entry here! Mulliro from Brazil is learning Russian Mulliro is a Community Tutor on italki and teaches Portuguese As you can see and hear in his video, he already speaks at a basic level but he really wants to bring up a level. but hes also taking the Challenge to really improve his Russian. Please cheer him on by leaving a comment on hisNotebook entry here! Maxine from the United States is learning Spanish Maxine has always wanted to learn Spanish and will be travelling to Spain in May. Her goal is a very practical one she wants to be able to use Spanish when she travels to Spain in bars, restaurants etc Shes picked some very popular teachers so she will try to fit in as many sessions as she can when they are free. Please  cheer her on! Tom from the United States is learning Italian and Russian If you need some inspiration on learning a language, you need to watch this video. Tom is a Polyglot and this is his 4th straight Language Challenge where he is now taking on Italian and Russian. As he states in his notebook entry, For the previous ones, I have improved my french and Norwegian. (Norwegian) The previous challanges have helped me alot to speak more quickly, travel in europe, and find friends I otherwise wouldnt have met at all. Tom is one of those inspirational challenger that you aspire to be. Please cheer him on for this challenge! Hes only learning 2 languages this time around ??

Happiness Is Not Something Ready Made

Happiness Is Not Something Ready Made Happiness is not something ready made. It comes from your own actions. A quote by His Holiness the Dalai Lama Dalai Lamas are the head monk of the schools of Tibetan Buddhism. The current 14th Dalai Lama won the Nobel Peace Prize in 1989, and is also well known for his lifelong advocacy for Tibetans inside and outside Tibet. TutorZ has Buddhism tutors working for.