Newest Assignments and Dates (If assignment is online it shall be stated below)

  • 03-17-2008 - 03-21-2008 -Spring Break (FREEDOM)
  • 03-21-2008 -Art History Outline and images
  • Still during spring break: Read Lord of the Flies for techniques/devices, 3 allusions due.

Thursday, November 22, 2007

Art History -Chap 7 - Images

1/3 of the images

7-14 Santa Costanza

  • Consists of large rotunda with an encircling barrel vaulted passageway called ambulatory
  • Part of the mausoleum of Constantina
  • Now dedicated to Santa Costanza
  • Composite capitals

    7-15 Harvesting of Grapes

  • Mosaic in ambulatory vault of the Church of Santa Costanza
  • Decorated with a tangle of grapevines and puttis (naked male angels)
  • Roman style, technique, and subject

    7-17 Mausoleum of Galla Placidia

  • Exterior and interior of chapel differ greatly to represent passage from the real world to the supernatural one
  • Lunette mosaic of Martyrdom of Saint Lawrence
  • Sarcophagus in niches

    7-18 Good Shepard

  • Mosaic in the lunette above the west entrance to the Mausoleum of Galla
  • Contains classical elements:
    • Illusionistic shading suggesting a single light source
    • Intimation of landscape in rocks and foilage
  • Changes in the conception of Jesus the Shepherd
    • Once depicted as a simple shepherd boy carrying a sheep
    • Here a young adult with a golden halo, in imperial robes, and a staff with a cross at the end instead of a shepherds crook
  • Stylized landscaped elements more rigid

Wednesday, November 21, 2007

Econ -Unit 4- Chap 13 Questions

I would suggest spell check this, it's kinda almost 1am and I took my contacts out a while ago, so I've been typing blind. Also, I had a bit of trouble with number 8 (I think it says five actually) so it's not finished, and if anyone can figure out the answer, please let me know, cuase I got nothing. Also ignore the numbering, it got kinda funky when I pasted it here.

  1. What are the three basic functions of money? Describe how rapid inflation can undermine money's ability to perform each of the three functions.

    1. Medium of exchange = Money is not worth as much, so it will take more to purchase the same goods and labor.
    2. Unit of account = Money is used to measure the worth of individual goods, in the event of rapid inflation money can no longer measure accurately
    3. Store value = Money loses it's value so it is no longer the best asset to keep.

      It may also result in the people no longer accept it as a medium of exchange

  2. What are the components of the M1 supply? What is the largest component? Which of the components of M1 is legal tender? Why is the face value of a coin greater than its intrinsic value? What near-monies are included in M2 money supply? What distinguished the M2 and M3 money supplies?

    Coins, paper money, and checkable deposits. Paper money. Currency and checkable deposits. So that people can't melt down the coin and sell its metal for greater than the coins initial value. Small time deposits, savings deposits, and money market mutual funds. The size of the time deposits.

  3. What backs the money supply in the US? What determines the value of money? How does the value of money relate to the price level? Who in the US is responsible for maintaining the money's value?

    Gold. Acceptability, legal tender, and relative scarcity. The value of money is inversely related to the price level. The Federal Reserve.

  4. Assume that the following data characterize a hypothetical economy: money supply = $200 billion; quantity of demanded for transaction = $150 billion; quantity of money demanded as an asset = $10 billion at 12% interest, increasing by $10 billion for each 2 percentage point fall in the interest rate

    1. What is the equilibrium interest rate? Explain.
    2. At the equilibrium interest rate, what are the quantity on money supplied, the total quantity of money demanded, the amount of money demanded for transactions, and the amount of money demanded as an asset?

      1. 2% To find the equilibrium interest rate you combine the amount demand for transaction and the amount demanded for assets on the graph. So starting at $150 billion, increasing $10 billion every time the interest rate drops 2% you have the line: (-1/5)x+42. This line crosses our second line, x=200, representing the money, supplied at 2. The 2, therefore, represents our equilibrium interest rate
      2. Quantity of money supplied = $200 billion. Total quantity demand = $160 billion. The amount demanded for transactions =_______. The amount demanded as an asset = $200 billion

  5. Assume that the money market is initially in equilibrium, and that the money supply is then increased. Explain the adjustments toward a new equilibrium interest rate. Will bond prices be higher or lower at the new equilibrium rate of interest? What effects would you expect the interest-rate change to have on the levels of output, employment, and prices? Answer the same questions for a decrease in money supply.

    Interest rates will fall as people initially try to reduce their money holdings by buying bonds. Not the opportunity cost of holding money is lower households and businesses will increase the amount of currency they are willing to hold, eventually reaching the new equilibrium. Bond prices will increase. Initially, though, demand goes up, bringing prices with it. There will also be a decrease in output and employment. Inflation time!

Tuesday, November 20, 2007

Econ -Unit 4- Chap 13 Notes

Money and Banking

  • The Functions of Money
    • Medium of Exchange
      • Usable for buying and selling goods
      • Social intervention with which resource suppliers and producers can be paid that can be used to buy and item on the marketplace
      • Allow society to gain the advantages of geographic and human specialization
    • Unit of Account
      • Society uses monetary units to measure the relative worth of goods, services, ect.
      • Permits us to define debt obligations, taxes owed, and calculate GDP
    • Store of Value
      • Enables people to transfer purchasing power from present to future
      • Money preferred for store value since it is the most liquid of all assets
  • The Supply of Money
    • Anything that is widely accepted as a medium of exchange can be used as money
    • Money Definition M1
      • Definition of U.S. money supply is called M1
        • Currency (Coins and paper money) in the hands of the public
          • Debts of the government
        • All checkable deposits
          • Debts of commercial banks and savings institutions
      • Currency: Coins + Paper Money
        • All coins in circulation in the US are token money
          • DEFINE: Intrinsic value, value of the metal contained in the coin, is less than the face of the coin
          • WHY: Prevent people from melting down coin for profit (Melt the coin worth 25 cents but that contains 75 cents worth of metal)
        • Coins make up 2-3% of M1
        • Paper money make up 50% of M1
          • All paper money is in the form of Federal Reserve Notes
      • Checkable Deposits
        • Large component of M1 (48%)
        • An endorsement
          • Because it requires an endorsement theft or lose of your checkbook is not nearly as bad as losing an identical amount of currency
        • More convenient to write a check than to transport large sums of money
        • Checks are nothing more than a way to transfer the ownership of deposits in banks
          • EQUATION: Money, M1= Currency + Checkable Deposits
      • Institutions that Offer Checkable Deposits
        • A variety of places allow people to write checks in any amount on the funds they have deposited
        • Commercial Banks: Primary depository institutions
          • Accept deposits of households and businesses, keep the money until it is demanded
        • Thrift Institutions: Savings and loan associations, mutual savings banks, and credit unions supplement the commercial banks
          • (S&L and saving banks) Accept deposits from households and businesses and then use the funds to finance housing mortgages and provide loans
          • (Credit unions) Accept deposits from and lend to members
      • A Qualification
        • Excluding government financial holdings from the money supply allows for better assessment of the amount of money available
    • Money Definition M2
      • Second definition of money includes M1 + several near-monies
        • DEFINE: Certain highly liquid financial assets that do not directly function as a medium, but can still be converted into currency
        • Three categories of near-monies
          • Savings Deposits
            • Depositor can easily withdraw fund from a savings account or request to have it moved to a checkable account
            • Can withdraw from money market deposit account
          • Small Time Deposits
            • Funds from time deposits become available after maturity
          • Money Market Mutual Funds
            • Depositor can redeem shared in a MMMF offered by a mutual fund company
              • EQUATION: Money, M2 = M1 + saving deposits (including MMDAs) + small time deposits + MMMFs
    • Money Definition M3
      • Third definition: Includes LARGE time deposits
        • There is a market where these can be sold at any time
          • EQUATION: Money, M3 = M2 + large time deposits
  • What "Backs" the Money Supply
    • Money as Debt
      • The major components of the money supply are debts
      • Paper currency and checkable deposits have no intrinsic value
      • Managing the money supply is more sensible than linking it to gold
        • A large increase in the gold stock might increase the money supply to rapidly, causing inflation
        • A decrease in the gold supply might reduce money supply causing a recession
        • People cannot convert paper money to gold
    • Value of Money
      • Acceptability
        • Currency and checkable deposits are money people accept them as money
      • Legal Tender
        • Government has designated currency as legal tender
          • DEFINE: Paper money is a valid and legal payment of debt
        • Paper money in our economy is fiat money
          • DEFINE: It's money because the government said it is
        • The general acceptance of the paper currency is more important than what the government says
      • Relative Scarcity
        • Value of money depends on its supply and demand
        • Utility of money depends on its capacity to be exchanged for goods and services
    • Money and Prices
      • The Purchasing Power of the Dollar
        • The amount a dollar will buy varies inversely with the price level
          • When the CPI goes up the value of the dollar goes down
          • Higher prices lower the value because more dollars are needed to buy a certain amount of goods
            • Equation: D=1/P
              • (Dollar Value=1/Price level)
      • Inflation and Acceptability
        • Inflation depreciates the value of currency
        • Rapid declines in the value of currency may cause it to cease being used as a medium of exchange
        • Without the acceptable domestic medium of exchange the economy may revert to barter or pick up foreign currency
    • Stabilization of Money's Value
      • Stabilization requires:
        • Appropriate fiscal policy
        • Intelligent management or regulation of the money supply
      • Ability of banks and thrifts to honor claims against them depends their not creating too many of such claims
        • System of private profit seeking banks may not contain sufficient safeguards against creating too many checkable deposits
        • US banking system exercises substantial centralizing and government control to guard against these
  • The demand for Money
    • Two reasons why the public want money:
      • Make purchases
      • Hold it as an asset
    • Transactions Demand, Dt
      • Transactions demand for money
        • Define: Using money as a medium of exchange for purchasing goods and services
      • The main detriment amount of money demanded for transactions is the level of nominal GDP
    • Asset Demand, Da
      • Second reason for having money comes from its function as a store of value
      • Asset demand for money
        • Define: Different forms of financial assets: stocks, bonds, or money
      • Determinants of asset demand
        • Rate of interest (money does not collect interest, bonds do)
        • Asset demand for money varies inversely with the rate of interest
    • Total Money Demand, Dm
      • We find the total demand for money by horizontally adding the asset demand to transactions demand
        • The resulting line represents the total amount of money the public wants
  • The Money Market
    • Combination of demand for money with the supply of money and you have . . . MONEY MARKET! YAY!
      • Determine the equilibrium rate of interest
    • Adjustment to a Decline in the Money Supply
      • Decline the supply of money will cause a temporary shortage of money (duh) and increase equilibrium interest
        • In the event of a money shortage, people will sell bonds to try to increase supply. But it does not increase money supply as a whole. It causes the price on bonds to drop and the interest rate to rise.
        • Lower bond prices are associated with higher interest rates
    • Adjustment to an Increase in the Money Supply
      • In the case of a surplus of money people will buy more bonds
        • This doesn't make much sense in the whole since the money just round and round
        • The demand for bonds will rise cause prices to rise and interest rates to fall
  • The Federal Reserve and the Banking System
    • The Board of Governors of the Federal Reserve System direct the Federal Reserve Banks who control the lending activity pf the nations banks and thrift institutions
    • Historical Background
      • -
    • Board of Governors
      • -
    • FOMC
      • Federal Open Market Committee aids the BOG
      • Made up of twelve people
        • Seven members of the BOG
        • President of the NY FRB
        • The four remaining presidents of the FRB on a rotating basis
    • The 12 Federal Reserve Banks
      • Blend private and public control
      • Serve as nations 'central bank' and as bankers' banks
      • Central Bank
        • US central bank is made up of 12 banks coordinated by the BOG
      • Quasi-Public Banks
        • Blend private and public control
        • Not motivated by profit
        • Do not compete with commercial banks
      • Bankers' Banks
        • Make loans and accept deposits for banks rather than the public
    • Commercial Banks and Thrifts
      • Thrifts are subject to monetary control by the Federal Reserve System
    • Fed Functions and the Money Supply
      • The Fed performs several functions:
        • Issuing currency
        • Setting reserve requirement and holding reserves
        • Lending money to banks and thrifts
        • Providing for check collection
        • Acting as a fiscal agent
        • Supervising banks
        • Controlling the money supply
    • Federal Reserve Independence
      • Independent agency of the gov.
        • Protects Fed from political pressures

Art History -Chap 7 - Vocab.

Aisle: Passage or open corridor of a church, hall, or other building that parallels the main space, usually on both sides.

Ambulatory: The passage around the apse in a basilican church.

Atrium: An unroofed interior courtyard or room in a Roman house.

Baptistry: A building used for Christian ritual of baptism.

Plan: A plan consisting of nave and side aisles, often with transept and usually with apse.

building: Any structure designed with a primary central space.

Cherubim: The second highest order of angels, small naked child.

Crypt: The vaulted underground space beneath the floor of the church.

Shepherd: A man carrying a sheep or calf or with a sheep or calf at his side.

Impost: A block, serving to concentrate the weight above, imposed between the capital of a column and the lowest block of an arch above.

Plan: A crossed-shaped building plan, incorporating a long nave and shorter transept arms.

Lunette: A semicircular shape; on a wall, often framed by an arch over a door or window.

Manuscript: A handwritten book or document.

Narthex: The vestibule or entrance porch of a church.

Nave: The central aisle of a basilica, two or three stories high and flanked by aisles

Orant: A standing figure praying with outstretched arms and upraised hands.

Parchment: A writing surface made from treated skins of animals and used during antiquity and the middle ages.

Portal: A grand enterance, door, or gate, usually to an important public building.

Rotunda: Any building constructed in a circular shape.

Spandrel: The area of wall adjoining the exterior curve of an arch between its springing and the keystone.

Syncretism: In religion or philosophy, the union of different ideas or principles.

Transept: The arm of a cruciform church, perpendicular to the nave.

Triforium: The element of the interior elevation of a church, found between the nave arcade or colonnade and the clerestory.

Vault: An arched masonry structure that spans an interior space.

Vellum: A fine animal skin prepared for writing and painting.

Menorahs: Seven-branched lamps

Loculi Long rectangular niches in the wall

Cubicula: Small rooms

Medal-lion: round ornament

Attributes: Identifying accessories

House-Synagouge: Jewish place of worship located in the home

House-church: Christian place of worship located in the home

Naos: Space containing the central dome

colonnade: Columns supporting an entableture lined nave

Apsidal: End of the nave and isles

arcade: Created by columns supporting round arches

Ciborium: Pavilion-like sturcture supported on four columns

Putti: Naked male child angels

Cruciform: Cross-shaped

Arcade: Series of decorative arches applied to a solid wall

Cenotaphs: Memorial tombs

Codex: Type of book

Miniatures: Illustrations in books

Illuminated: Manuscripts decorated with red and gold

Abstract: Any art that does not represent observable aspects of nature or transforms visable forms into a pattern resembling the original model.

Buttress: A type of architectural support. Usually consists of massive masonry with wide base built against an exterior wall to brace the wall and strengthen the vaults.

Cloisonne: An enamel technique in which metal strips are affixed to the surface to form the design.

Crossing: The part of a cross-shaped church where the nave and transept meet.

Diptych: Two panels of equal size (usaully decorated with paintings or reliefs) hinged together.

Gallery: A place where art is exhibited, specifically an art gallery.

Hieratic: In painting and sculpture, a formalized style for representing rulers or sacred or priestly figures.

Icon: An image in any material representing a sacred figure or event.

Iconoclasm: The banning or destruction of images, especially icons and religous art.

Mandorla: Light encircling, or emanating from, the entire figure of a sacred person.

Naos: The princiapal room in a temple or church.

Oculus: In architecture, a circular opening.

Pendentive: The concave triangular section of a wall that forms the transition between a square or polygonal space and the circular base of a dome.

plan: The theoretical spatial plane corresponding with the actual surface of a painting.

Pier: A masonry support made up of many stones, or rubble and concrete.

Scriptorium: A room in a monastery for writing or copying manuscrips

Squinch: An arch or lintel build across the upper corners of a space, allowing a circular or polygonal dome to be more securely set above the walls.

Trompe l' oeil: A manner of representation in which the appearance of natural space and objects is re-created with the express intention of fooling the eye of the viewer.

Iconoclasm: Image breaking

Muqarnas: Stalacite form of multiple squinches



Vignettes: Lively smaller scenes

Quincunx: nine-bay, cross in square

Shater: Stepply pitched, tentlike rook form designed to keep dangerously large accumulations of snow from forming

Close Reads Template



TITLE OF WORK: _____________ AUTHOR OF WORK:_______________

SET UP THE CLIP: _________________________________________________________________









CENTRAL TONE: _____________




UNDERTONES: _________________________