Banking Risk Management

Banking Risk Management Credit Risk Models The Black-Scholes-Merton Model There are various credit risk models, which have been proposed by researchers in order to reduce the risks associated with future transactions. One of these models is the BSM framework structured models. This model was proposed by Merton in 1974. He derived the value of an option from a company, which could default loan repayment (Merton, 1974).Advertising We will write a custom essay sample on Banking Risk Management specifically for you for only $16.05 $11/page Learn More The Black-Scholes-Merton model assumes that there is a latent firm asset value, which is determined by the company’s future cash flows. This model is used to determine the firm’s debt and equity value. This model includes components, such as risk free interest rates, asset payment ratio, and asset risk premium. Merton (1974) argues that the asset return rate and the risk free interest rates are the constants which are non-sto chastic. The model also assumes that the company’s capital structure relates to a pure equity and a single zero coupon debt, which matures within a given time. Incase of a default experienced by a company, the stock price of the defaulting firm is expected to go to zero. According to this model, the debtor is assumed to be a seller in the European put option. On the other hand, the equity holder is assumed to be a buyer of European call option (Merton, 1974). The model uses the Black –Scholes option pricing in order to determine the relationship between the equity market value and the bond market value. Shibita and Yamada (2009) proposed the BSM structural model to a bank, which was just this side of bankruptcy. This helped the bank in its recovery processes. According to Shibata and Yamada (2009), the banks choice to continue operating or be liquidated plays a vital role on the losses of the loan. They assumed that this decision should be made severally at a certain t ime after the bankruptcy. Individual-level reduced-form models This refers to the models which are not of the class of structural models. At the individual level, a reduced form model can also be described as the credit scoring one. This model was developed by Altman (1968). The credit scoring model uses linear and binomial models to regress the defaults among companies.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More It identifies various accounting components, which have statistical explanatory capability, in order to differentiate between the defaulting and non defaulting firms. After estimating the coefficients of the model, the loan applicants are given a Z-score in order to classify them as good or bad. Several decades after its proposal, the credit scoring model got a significant development. Altaman and Saunders (1998) discussed the wide spread of the individual level mode l and its major developments over the years. Altman and Narayanan (1997) evaluated the historical accounting variables used in the credit scoring models across the world. According to them, most of the studies proposed the use of financial ratios, which determine profitability, and liquidity. These financial ratios may include market value equity/debt, (EBIT)/sales as well as working capital/debt. Altman (2005) proposed a scoring system known as Emerging Market Score Model to use to define the emerging corporate bonds. Portfolio reduced form models These models were proposed by Jarrow and Turnbull (1992). According to them, the idea of these models is related to the concept of risk neutral. Risk neutral is a common technique used to predict the probability of the future cash flow. It helps in computing the asset prices by using risk neutral default probabilities. Jarrow and Turnbull (1992) used the idea of risk neutral to develop the credit risk premium which is also known as the cr edit spread. They decomposed the credit risk premium into two components. Poisson /Cox process model This is a subclass of the portfolio reduced form models. It was developed by Jarrow and Turnbull (1995), and it can be described as the simplest model of the portfolio reduced form model. In this approach, the default process is assumed to be a Poisson process with a constant intensity where the default time is exponentially distributed. Markov chain model This is a credit risk model, which was originally proposed by Jarrow et al. (1997). This model considers the default event as the absorbing state and the default period as the first period when the Markov chain hits the absorbing state.Advertising We will write a custom essay sample on Banking Risk Management specifically for you for only $16.05 $11/page Learn More Factor model This is a credit risk model, which puts into consideration two vectors of explanation variables. The first vector is a set of macr o economic variables, such as interest rate, inflation rate, money supply growth as well as GDP growth. This vector explains the systematic risk, which causes default events. The second vector involves a set of firm-specific variables, which determine individual risk. According to Pederzoli and Torricelli (2005), the variables are considered simultaneously. Conclusion The credit risk models have various shortcomings. For instance, the BSM framework structural model consists of several simplified assumption in its derivation. The simplified assumptions restrict the applied value of the model. This has made the subsequent researchers focus on reducing these assumptions. The individual level reduced form models may not pick up fast moving developments in borrowers conditions. This is because the model uses explanatory variables, which are based on accounting data. According to Agarwal and Taffler’s (2008), credit scoring models, such as Altman’s Z-score, may not be used t o forecast distress as compared to the structural models. References Altman, E 2005, An emerging market credit scoring system for corporate bonds,  Journal of Emerging Markets Review, vol. 6, no. 4, pp. 311-323. Altman, E, Saunders, A 1998, Credit risk measurement: Developments over the last 20 years, Journal of Banking and Finance, vol. 21, pp. 1721-1742. Gordy, MB, 2000, A comparative anatomy of credit risk models, Journal of Banking  and Finance, pp.119-149.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Jarrow, R, Turnbull, S 1997 A Markov model for the term structure of credit risk spreads, Review of Financial Studies, vol. 10, no. 2, pp. 481–523. Merton, C 1974. On the pricing of corporate debt: The risk structure of interest rates.  The Journal of Finance, vol. 29, no. 2, pp. 449–470. Saunders, A Allen, L 2002, Credit risk measurement: New Approaches to Value at  Risk and Other Paradigms. John Wiley Sons, New York.

How to Conjugate the French Verb Appeler (to Call)

How to Conjugate the French Verb Appeler (to Call) In French, you will use the verb  appeler  when you want to say to call. Yet, in order for the verb to make sense in a sentence, it needs to be conjugated. That is the subject of this lesson and by the end, youll be conjugating  appeler  with ease. Conjugating the French Verb  Appeler Appeler  is a  stem-changing verb.  If you notice, in the  nous  and  vous  present tense as well as the imperfect, the ll changes back  to the single l found in the original verb. Other than that minor difference, the conjugation of  appeler  is  similar to regular -er  verbs. In reality, this is one of the easier French verbs to conjugate and the chart will help you tremendously. It shows the verb form for the present, future, and imperfect past as well as the present participle. Simply match up the  subject pronoun with the form of  appeler  and youre on your way to forming a complete sentence in French. For instance, to say I call, you will say jappelle and for we will call, say nous appelerons. Appelers Present Participle The  present participle  of  appeler  is  appelant. Beyond its use as a verb for calling, you might also use it as an adjective, gerund, or noun in certain circumstances. Another Past Tense for  Appeler You can also use the  passà © composà ©Ã‚  for the past tense conjugation of  appeler. You will need to use the verbs  past participle  of appelà ©Ã‚  along with the  auxiliary verb, which is  avoir  in this case. For example, to say I called, you will use jai  appelà ©. For he called, you say il a  appelà © in French. The  ai and a are conjugations of  avoir. More Conjugations of  Appeler You may not always need these forms of  appeler, but they are good to know. The  passà © simple and imperfect subjunctive are used in formal writing, so unless you do that, theyre not very important. Yet, you should be aware of the subjunctive and conditional forms of  appeler, particularly as you learn more conversational French. The ​subjunctive will be used when the verb is uncertain or subjective. The ​conditional will be used when the verb is dependent upon circumstances. Finally, we must discuss the imperative form of  appeler. This is used for short, expressive sentences that have a request or demand. Its very useful for a verb like  appeler. The primary difference here is that you do not need to use the subject pronoun because the verb takes care of it. For example, if you want someone to Call me! you will say Appelle-moi! rather than Tu appelle-moi! Another Way to Call As you might imagine,  appeler  is just one piece in the French vocabulary for phone conversations. It can be used in other contexts such as call out or call on someone and neither has to do with a phone. For very specific phone calling, look to the verb  tà ©là ©phoner.

Sun Exposure Essay Example | Topics and Well Written Essays - 250 words

Sun Exposure - Essay Example The most important information to capture in educating patients about the skin and sun exposure relates to the benefits and damages that the sun causes to the skin. The patients need to understand the extent of sun that is necessary for their skin. This is in the view that vitamin D; a crucial vitamin in the human body can be derived from sun rays (Reichrath, 2008). However, excessive exposure of the skin to the sun is harmful, and can result in skin diseases; among them skin cancer. The patients have to be equipped with vast explanations as to how such scenarios may arise. On the other hand, the damaging aspect of sun exposure to the skin would be crucial to account for, making patients understand the process behind the harmful aspects of sun exposure to the skin. Personally, the underlying risks of sun exposure are well understood. On the simple step towards reducing such risks, covering the skin in extreme sunny days comes in handy. Over and above this, use of certified products that protect the skin from harmful aspects of sun exposure also works. On the same note, having regular checkups by a dermatologist and seeking relevant advice and information towards minimizing sun exposure, or actually alleviating the underlying risks

Ethical issues In HealthCare Informatics Applies to nursing practice Research Paper

Ethical issues In HealthCare Informatics Applies to nursing practice and Education - Research Paper Example Besides, informatics has been widely used in nursing education process. Future nurses improve their reading, writing, and communication skills through blogs writing, participation in discussions, and writing journal entries. The ethical considerations of the use of informatics in nursing and health care are above all related to data security and data quality issues. Overall, informatics has brought numerous benefits to the field of nursing and nursing education, yet more should be done to resolve ethical dilemmas. Introduction Computers have greatly altered the way we do various things. Health care is not an exception. Within the sphere of health care, informatics is widely used. This paper examines benefits the benefits of health care informatics for nursing practice and education. It also focuses on ethical considerations of the use of informatics in nursing and health care. Benefits of Health Care Informatics for Nursing Recognition of information as the leading health resource ha s led to development of health care informatics (Conrick, 2006, p.12). ... ures which would help medical staff diagnose and treat customers in a more efficient and accurate way (â€Å"The History of Health Informatics†, 2013). Historically, benefits of computers for health care were recognized early in the 20th century, practically application of computers to health care did not became possible until 1950s, when informatics took off in the States. Early computers were mostly used for office purposes as large calculating machines. It is believed that the stage for further developments of health care informatics was set by Robert Ledley, an inventor of the body CT scanner, who used informatics in his dental projects carried out in collaboration with the National Bureau of Standards. After the invention of the LISP and MUMPS languages of programming in the 1960s, computers started to be seen as a means of creation of medical databases, diagnostic systems, and other programs related to health. Throughout the 1970s the potential of informatics for improvi ng data storage and overall quality of patient care was realized (Conrick, 2006, p.12). The cost-saving benefit of using computers in financial and management areas of health care was stated. At the same time, MYCIN was developed for the purposes of helping physicians find the bacteria that caused several infections, as well as recommend medication and dosage for treatment. Besides, it aimed at treating blood clotting problems. INTERNIST-1 was developed at around that time. It was conceived as a system that could be used for supplying medical information to non-medics. The major advancement of 1980s was the development of nursing information systems. This enabled physicians to document a few aspects of records for their patients, which included vital signs, medical orders, discharge planning, and

Social Inequality and Exclusion Knowledge in Social Care

Social Inequality and Exclusion Knowledge in Social Care How can a knowledge of social inequalities and social exclusion assist social workers in their practice? In some respects the topic of this essay reflects both the heart and core of the philosophy behind social work. There are some who would argue that it is the recognition and appreciation of the inequalities of society that are the driving force behind most of the social legislation in this country today. (Powell, J et al 1996). The definition of social inequality can be made on many different levels – philosophical, intellectual, socio-economic, cultural and health related, to cite but a few and a complete discussion is clearly beyond the scope of an essay such as this. In the same way social exclusion can be due to a myriad of causes – cultural, religious, behavioural, criminal, socio-economic, age, immobility and illness are a few of the more common factors. The fact of the matter is that in practical terms, both social inequality and social exclusion tend to overlap a great deal and in many cases, one is the cause of the other. (Lovelock, R et al 2004) Because it is completely impractical to consider all of the possible causes of both social inequality and social exclusion we shall approach the issue by considering a number of different examples and discuss them in the context of the question. In general terms, disability (both physical and mental) is a major cause of both these phenomena. We shall begin by considering the impact that disability has on both social inequality and social exclusion. To it’s credit, the Government has recently taken a number of steps to try to combat the inequality and the exclusion elements that are inextricably linked with disability. In order to be technically correct on the matter, we should note that the World Health Organisation actually subdivides the term â€Å"disability† into three different elements Problems in bodily function or structure, which they used to call impairment; problems relating to activities, or disability; and problems related to social participation, which they called handicap. (Ramcharan P et al 1997) For our purposes however, such a definition is hardly helpful in terms of examining the problems of the disabled. We would suggest that a definition in social terms is probably far more practical. Some commentators (Clasen J 1999), have observed that: The treatment of disability as if it was a single problem may mean that disabled people receive insufficient or inappropriate assistance. The problems that disabled people have in common are not so much their physical capacities, which are often very different, but limitations on their life style. In the context of this essay Goodin (et al 2000) adds the observation that: Their income tends to be low, while disabled people may have special needs to be met which require increased expenditure. Socially, disabled people may well become isolated, particularly as their health declines and they struggle progressively to manage on the resources they have, and they may be socially excluded. For our purposes in this essay we shall use the word â€Å"disability† in its English grammatical sense (a la Clasen and Goodin) rather than in the narrower WHO definition above. Perhaps the first observation that we should make, is that disability, or the perception of disability, is very culturally dependent and to some extent is culturally determined. The cynic might suggest that the stereotype caucasian British white male might consider that a disabled person is the responsibility of the social services and the state, who can look after him, provide him with carers and organise a regular income in the form of some type of protected benefit. Equally, the stereotypical Asian family might consider the disabled family member to be the responsibility of the family itself and would only look to the state for advice and resources. Clearly both of these stereotypes are cartoon exaggerations of the reality of the situation, but we use this to illustrate the cultural elements of the expectations of both the disabled person and their families or carers. In the context of our considerations here, we need to consider how a knowledge of the social inequalities and social exclusion can assist the social worker in their practice. In order to do this in the specific area of disability, we should examine The Disability and Discrimination Act (1995). Many would argue that this has been a piece of legislation that was long overdue as it addressed a need that has been demonstrably present from time immemorial (Baldock J et al 1999). The fact of the matter is that the ability to discriminate on the sole grounds of race has been illegal in the UK for a considerable time. As Spicker (P 1995) has observed: The ability to discriminate on other, arguably more fundamental features of existence, still remained an option that did not have the sanction of the law. In this respect, the Act has proved to be a valuable piece of legislation as it has helped to directly tackle many of the areas of social inequality and social exclusion. Many consider the Act to be simply aimed at the discrimination practices that were rife in the workplace, but the reality of the situation is that it is, in real terms, a far reaching piece of legislation which has implications for most areas of society and social interaction (Alcock P, 2003). The social worker will clearly need to have a working knowledge of the provisions of this Act if they are to be able to function effectively in this particular area. The social worker, in their daily practice, may very well come across clients with disabilities of various types, and these clients may look to them for help, support and guidance if they have an appreciable element of social exclusion in their lives. We can point to research which shows that the disabled have a substantial burden of discrimination when it comes to employment. (Chapman P et al 2004). Jowell (R et al 1998) demonstrated a 7 fold increased incidence of unemployment when compared to their able bodied counterparts. It generally follows that greater levels of unemployment are associated with lower levels of income and this, in turn, is associated with greater levels of social exclusion (McKernan SM et al 2005), The professional approach of the social worker will be to assess all of the possible factors that may contribute to their isolation and consider practical ways of breaking down the barriers to inclusion, whether they may be in the workplace, on the social front or even in terms of simple physical mobility. (Haralambos M et al 2000) Another major area of social inequality, which again has repercussions on social exclusion, is the area of health in general. In this context the (then) Health Secretary, Frank Dobson, made the very pertinent comment : Inequality in health is the worst inequality of all. There is no more serious inequality than knowing that you’ll die sooner because you’re badly off (Dobson 1997) There is a direct and demonstrable link between social depravation and ill health. It follows from this that social inequalities have a direct effect on both morbidity and mortality. This is most marked in the children from deprived backgrounds. (Black 1980) The Black report (cited above) was largely adopted and expanded in the publication of â€Å"The Health Divide† (Townsend Davidson 1988), which further quantified the areas of social inequalities as manifested in morbidity rates in the population and correlated them to social stratification. The Report came to the conclusion that these social inequalities were not being adequately addressed either by the Health Authorities or the Social Services. These identified inequalities later emerged, further modified, in a document â€Å"Independent Inquiry into Inequalities in Health† ( IIIH 1998), and were associated with 39 separate recommendations. These were subsequently criticised for a lack of prioritisation, (McKernan SM et al 2005), where† the fundamental role of poverty was lost in a sea of (albeit worthy) recommendations ranging from traffic curbing to fluoridation of the water supply.† Obviously, the findings of this succession of reports does not only impact upon the Social Services, it equally impacts upon other providers such as the Health Service and indeed the Government itself. We have examined two specific areas of the whole picture of social inequality, and it is prudent to also consider an overview before leaving this area. The trend to socio-economic inequality can be considered to be either rising or falling depending on which criteria of assessment one takes. If we consider the number of people who are living in low income households, there has been a measurable downward trend in the last decade, this is partly due to the fact that there are progressively fewer people in workless households (Chapman P et al 2005) Equally, if one considers the number of families on out-of-work benefits, this has risen by 30% in the last 6 years (JRF 2005) If one considers the impact of the association of low income and increased morbidity, then we can cite studies that show that there has not been any significant reduction in these health related inequalities in the last 9 years. (McKernan SM et al 2005). There is also the geographical factor. We can show that virtually all the indicators of both social socio-economic inequality and social exclusion are more prevalent in the north-east of the UK and they tend to progressively reduce as one moves towards the south-west. The only notable geographical anomaly in this respect is London which has a peak of low income and unemployment problems and Scotland which has a peak in health-related issues. (JRF 2005) In conclusion, although it is accepted that we have only examined a few small facets of the whole potential area related to both social inequalities and social exclusion, we would suggest that we have presented sufficient evidence to be able to suggest that the social worker cannot reasonably be expected to practice in the modern environment without a thorough knowledge and appreciation of these factors. It is not so much a case of â€Å"Does this knowledge assist the social worker in their practice?† but â€Å"This knowledge is essential to be able to practice effectively.† References Alcock P, 2003,  Social policy in Britain,  Macmillan 2003. Baldock J et al 1999,  Social Policy,  Oxford University Press 1999 Black report (The) 1980,  DHSS,  HMSO: London 1980 Chapman P, Euan Phimister, Mark Shucksmith, Richard Upward and Esperanza Vera-Toscano, 2004,  Poverty and exclusion in rural Britain: The dynamics of low income and employment,  Joseph Rowntree Foundation, Prentice Hall : ISBN1 899987 67 3, Clasen J (ed) 1999,  Comparative social policy: concepts, theories and methods,  Blackwell 1999   Dobson F 1997,  Department of Health: The NHS Plan. A Plan for Investment. A Plan for Reform. Cm 4818.  London: The Stationery Office 1997 Goodin R, B Headey, R Muffels, H-J Dirven, 2000,  The real worlds of welfare capitalism,  Cambridge University Press 2000. Haralambos M, M Holborn 2000,  Sociology: themes and perspectives,  Harper Collins 2000. IIIH 1998,  Independent Inquiry into Inequalities in Health (1998),  Department of Health,  HMSO: London 1998 Jowell R, J. Curtice, A. Park, L. Brook, K. Thomson C. Bryson (eds.) 1998,  British and European Social Attitudes: how Britain differs. The 15th BSA Report,  Ashgate Publishing, Aldershot. (1998) JRF 2005,  Low pay, and poverty,  Joseph Rowntree Foundation, Prentice Hall: 2005 McKernan SM, Ratcliffe, C 2005,  Events that trigger poverty,  Social Sceince Quarterly Vol. 86, Number 5, December 2005, pp. 1146-1169 (24),  JRF 2005 Millar J and Karen Gardiner 2005,  Low pay, household resources and poverty,  Joseph Rowntree Foundation, Prentice Hall: ISBN 1 85935 257 X Townsend Davidson 1988,  The Health Divide,  London: Penguin Books 1988 Ramcharan P et al 1997,  In: Empowerment in Everyday Life: learning disability, Jessica Kingsley (EDS),  Oxford University Press 1997 Lovelock, R. and Powell, J. (forthcoming, April 2004), ‘Habermas/Foucault for social work: practices of critical reflection’, in Lovelock, R., Lyons, K. and Powell, J. (eds), Reflecting on Social Work – Discipline and Profession, Aldershot, Ashgate, pp. 183–225. Powell, J. and Lovelock, R. (1996), Reason and commitment: is communication possible in contested areas of social work theory and practice?, in Ford, P. and Hayes, P. (eds), Educating for Social Work: Arguments for Optimism, Aldershot, Avebury, pp. 76–94. JRF 2005,  Joseph Rowntree Foundation 2005 April 1998 Ref 418 Poverty and exclusion in rural Britain: the dynamics of low income and employment

Balcony and monument scenes Essay

Write about the effectiveness of Shakespeare’s imagery in The Banquet, Balcony and Monument Scenes of â€Å"Romeo and Juliet† â€Å"That which we call a rose by any other word would smell as sweet. † Shakespeare uses imagery and metaphors throughout â€Å"Romeo and Juliet† to great effect. By using language, instead of props or backdrops to produce a vivid picture, he is engaging the audience more and making them think for themselves. This dramatic technique is used to the best effect in the Banquet, Balcony and Monument scenes, when portraying Romeo and Juliet’s love. The Banquet scene is the first time Romeo sees Juliet, so the language used has to make a big impact so as to convey to the Elizabethan audience that this is true love, in contrast with Romeo’s infatuation with Rosaline. â€Å"O she doth teach the torches to burn bright†. Shakespeare uses alliteration on â€Å"teach the torches† and â€Å"burn bright† to make Romeo’s words sound more beautiful and poetic, ideally like a sonnet. The words are coincidently very much like one of Shakespeare’s sonnets, Sonnet 21, where he contrasts light with dark. Shakespeare uses this same comparison throughout the play to convey emotions, foreshadow tragedy and express the stages of the young love to the audience. In a way, Romeo and Juliet’s devotion is like light against the dark background of feuding families. By claiming that Juliet is brighter than any other torch, Romeo is directly comparing her to other girls, in particular Rosaline. When Romeo speaks of Rosaline, he uses the language of Elizabethan courtly love. All his feelings are quite contained in comparison to the poetic imagery he uses upon seeing Juliet for the first time. He says about Rosaline â€Å"She’s fair I love†, which in Shakespeare’s time was the sort of language one would use when describing their love. However, Romeo describes Juliet’s beauty as â€Å"too rich for use† and later claims that he â€Å"ne’er saw true beauty till this night†. The audience knows straight away that this is true love. But the audience is also aware of the fact that this love is doomed, and there is some irony in a number of Romeo’s lines. â€Å"Beauty too rich for use, for earth too dear†. This suggests that Juliet is out of Romeo’s reach, which, being a Capulet, she is. He is also comparing her to an angel or heavenly creature, which he does throughout the play. This is Shakespeare’s way of showing that although these are young lovers, they are very spiritual too. The idea that she belongs to heaven because she is too good for earth builds up a feeling of unease and sadness in the audience, as they know she is going to die and therefore will not belong to the Earth anymore. This spiritual imagery is used when the lovers exchange their first words. Romeo tries to entice Juliet by referring to her as his â€Å"holy shrine† and to his lips as â€Å"two blushing pilgrims†. This shows Romeo to be a more sensitive and poetic character, which makes the audience, and Juliet, fall in love with him. By referring to her as his â€Å"holy shrine† he is showing the audience that he idolises her, and sees himself as lowly compared to her beauty. This speech between them is laid out in sonnet form. Sonnets are generally about love, which emphasises to the audience that Romeo and Juliet are in love. It also contributes to Romeo’s poetic image. Upon walking home later that evening, Romeo decides he has to see Juliet again. He finds his way into her garden and stands by the balcony. Romeo sees Juliet at her window. He exaggerates the pale flicker of the candlelight to describe it as the East. â€Å"But soft, what light through yonder window breaks? It is the east and Juliet is the sun. † Shakespeare is using Romeo’s dialogue to â€Å"light† the stage. He puts a clear image into the audience’s minds. Again Romeo is comparing Juliet to light; this time the sun, the brightest light of all. This is his poetic way of declaring that she is the brightest and most beautiful of girls. It also signifies how very important she is to him, as the sun is imperative to everyday life. The light from Juliet’s window is said to â€Å"break† through. This could imply a breakthrough in Romeo’s love life; he has found his soul mate. In the Balcony scene Shakespeare uses language about the moon to help create a scene in the audience member’s mind. This means they are more involved in the play, and can imagine themselves there in the moonlight. â€Å"Arise fair sun and kill the envious moon, Who is already sick and pale with grief That thou her maid art far more fair than she. † It is interesting that Romeo compares Juliet’s beauty to the moon here, as he has just described her as his sun. In mythology, Diana, the Goddess of the moon, is served by virgin maids. Being a virgin, Juliet is depicted as one of these maids, but Romeo believes that Diana is jealous of Juliet’s beauty. He asks her to stop serving the moon, and therefore stop being a virgin and become his lover instead. This shows Romeo is passionate in a sexual way about Juliet, which would be quite exciting to an Elizabethan audience member, as sex was not as commonly talked about as it is now. The fact that the moon is â€Å"sick and pale with grief† could be foreshadowing future grief for the couple. By asking the sun to arise, Romeo is wishing the day to come, therefore reminding the audience that it is night. When Romeo decides to reveal himself to Juliet she, feeling embarrassed and shocked, asks him who he is. Of course he has recently discovered she is the daughter of his family’s enemy, and feels his name is hurtful to her. â€Å"By a name I know not how to tell thee who I am. My name, dear saint, is hateful to myself,Because it is an enemy to thee. † Romeo and Juliet strongly believe in their names being a now unwanted allegiance to their family. Despite the fact that their names are just words, both of the star crossed lovers feel they are chains, locking them to their families, and keeping them away from each other. Again he refers to Juliet as a â€Å"saint†. This would seem high praise to an audience of very religious Elizabethans. In Shakespearean times, exploring was very popular and a lot of new lands were being found. Because travel was not as easy then as it is now, and the knowledge of the world was not as advanced, exploring new lands was very exciting and appealing to the Elizabethans, which was why it was a popular subject matter and why Shakespeare used it throughout the play. â€Å"I am no pilot, yet wert thou as far, As that vast shore washed with the farthest sea, I should adventure for such merchandise. † The word â€Å"adventure† is used here because in the Elizabethan times, international traders were known as Merchant adventurers. It also suggests that Romeo finds his and Juliet’s love very exciting, as adventure is usually associated with new and exciting things. Shakespeare’s use of imagery to convey Romeo’s love as a new found land helps to set a picture in the audience’s minds of a far off tropical shore. In Shakespeare’s time there would not have been a lot of back drops and flats setting the stage, so it would be up to the audience to imagine their own scenery, and up to the playwright to use the correct language to stimulate these thoughts. Romeo describes himself being hidden from the eyes of Juliet’s guards and family. â€Å"I have night’s cloak to hide me from their eyes. † Again Shakespeare is using light and dark to set a scene for the audience. His actors would not have had the electrical lighting actors have now, so he would have to create moods and light by using words. Romeo is telling the audience it is dark, so it is easier to imagine. This contrast is used a lot in the monument scene too. When Romeo hears that Juliet is dead he goes to the tomb where she is said to be. After killing Paris he looks at Juliet for the last time. He describes the days they spent together as â€Å"A lightning before death†, because it was believed in those days that before somebody died, they would seem very well and happy temporarily. This is the contrast between light and dark again, which adds mood to the scene; the audience knows Romeo is deeply saddened by the sudden death of Juliet and, because of this, so are they. The word â€Å"lightning† makes you think of lightning as in a quick flash. Their romance was very sudden and over quickly, but very enlightening all the same. Romeo mentions Juliet’s beauty despite her death too, especially concentrating on her lips and cheeks. â€Å"Beauty’s ensign yet Is crimson in thy lips and in thy cheeks† Romeo talks about Juliet’s beauty a lot throughout the play. In the balcony scene he says â€Å"The brightness of her cheek would shame those stars† and then proclaims â€Å"O that I were a cheek upon that hand†. It is interesting how Romeo talks of Juliet’s cheeks so much. Perhaps Shakespeare is trying to link the two scenes together to show that Romeo’s love for Juliet was present from the beginning to the end of their relationship. He still felt the same for her when she was dead as he did when their love was blooming. â€Å"I will raise her statue in pure gold† Montague says this of Juliet in the last scene. Gold was a very expensive and prized material to the Elizabethan audience and so proves that Montague means well. It is a bit ironic that he is comparing her to a statue, because in the first scene Romeo and Juliet meet, the banquet scene, he describes her as a holy shrine. It is a very sad moment as the audience are reminded how happy the lovers used to be. The audience really benefits from Shakespeare’s imagery as it brings the play to life. It makes the words far more beautiful and the character’s easier to relate to. Romeo seems more poetic and easier to fall in love with. Juliet appears to be intelligent and loving. Without the imagery the audience would not feel as involved with the plot, and would therefore not sympathise with the characters. The imagery heightens the emotions of the audience and confirms â€Å"Romeo and Juliet† as one a Shakespeare’s greatest tragedies.

Topics for a Causal Analysis Essay: the Ultimate Convenience!

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