Activities, humanities, question-ities

Activities, humanities, question-ities Activities Today I am inspired by Christina (my favorite off-the-waitlistee) 10, who asked, How many hours a week did you/do you dedicate to cheerleading and how has it helped/hurt your grades, etc? [Im uh, asking for a friend. :-D] I know it must be kind of confusing to reconcile the fact that were all apparently busy out of our heads with schoolwork and the fact that many of us actually do significant extracurricular stuff. Two things to wrap your collective heads around: 1) MIT students really like to complain about how hard theyre working, and 2) MIT students really like being busy. Its probably reasonable to limit yourself to one extracurricular activity when you first come to MIT, at least until you figure out if you can handle more than one. Thats harder than it sounds, because youll be seduced by things like the First Year Summer Mailing over the summer and the Activities Midway at Orientation, and youll get overexcited and sign up for ten groups, because, hey, you did ten things in high school, right? Okay, wrong. Theres definitely time to do an extracurricular activity or two, plus a UROP, and still graduate on time and happy and fulfilled. Jessie does three, to my knowledge: student government, Assassins Guild, and APO, plus a UROP. (This requires a great deal of moxie.) Unless you are a total academic rockstar and/or you do not need sleep, you probably cant do ten. I personally do one activity plus a UROP, partially because I live in the boondocks and it annoys me to go back to campus after Im home for the evening. Cheerleading is a time commitment of about six hours per week (three practices of two hours each), plus cheering at home football and home mens basketball games. Im really happy that I did cheerleading, because I got to have fun with a great group of people while simultaneously avoiding the freshman 15 and getting big and strong. I never felt like it negatively affected my grades or studying actually, Ive always thought it helped me become the time management ninja I am. When you have practice to attend, you know you have to sit down and do your work. When you have nothing else to do, you might be more inclined to waste time on the internet. A blatant plug for cheerleading An anonymous commenter asked, I had a question about cheerleading. I havent had any cheer expereince in high school, but I was wondering if it is a pre-requisite to have been a cheerleader to try out for the MIT squad. No, you dont need to have previous cheer experience to try out for cheerleading. I was in choir and theatre in high school, and I joined the squad and even became captain! About half to three-quarters of our members have never cheered before coming to MIT, and the quarter to half who have cheered are always really happy to help everybody else learn. We dont really have tryouts per se we have a weekend where we hold a clinic and teach everyone how to stunt and cheer and dance, but its really more for prospective members to try us out and see if the squad is something theyd like to do rather than us picking people. We havent cut anyone since Ive been on the squad. Join the cheerleading squad! Its fun! :D HASS-Dmystification Ive heard some questions recently about the ridiculous monstrosity that is the HASS requirement. If you do not understand the HASS requirement at this moment, dont worry about it. I think I figured it out halfway through my sophomore year here. So yes, you have to take one class from at least three different HASS-D categories. Your concentration is a group of three or four HASS classes in a certain department or thematic area; it can be in any of these fields. You dont have to concentrate in a subject in which you took a HASS-D, although it can be, if youre interested in killing multiple birds with minimal stones and all that. Two classes out of the 8 must be communication intensive, or CI-H, and at least one of those classes should be taken during your freshman year. Unless a class is HASS-D or says limited enrollment, you will get it for sure. And even when classes are limited enrollment, you can usually get into them if you really want to. If you dont get your first choice HASS-D, there are usually open spots by the first day of class, and you can go to the first day of the class and have the professor sign an Add Form for you. (Adam chimes in that he has literally never gotten into a HASS-D via the lottery; he just goes on the first day and gets his add form signed. I wouldnt advocate Adam-level flakiness, but hey, if it works) Questions 1. Evan B (can I say that I love it that the Evans are now differentiated?) wondered what in my last entry was so bad that I didnt want the RIAA to see it. Answer: I used to use Kazaa. But I do not now, partially because I own an iPod and am happy to use iTunes and partially because I do not have three thousand dollars or whatever to pay the RIAA in a settlement. 2. Charlotte asked, Out of curiosity, what happens when a researcher(postdoc, graduate student or whatever) gets pregnant? Ethidium bromide and UV light are already harmful enough to us typical young adults. Also, how did you manage to get your experimental procedures done within just three or four hours each afternoon? I know of people in other countries who go to their labs at 5.30 *AM* and leave at 11 *PM* ::faints:: I think female scientists just get very, very careful when they get pregnant. I mean, really, the risk shouldnt be too bad if youre careful the problems come when youre all bring it on, EtBr! and pick up gels with your bare hands and stuff. I get my experiments done in three or four hours in a few ways. First, Ive been known to come in before class to get stuff started, go to class while its running, and come into lab in the afternoon to finish the procedure. I also have a very helpful postdoc who will often get stuff started so its ready for me when I come in. Third I get stuff done a lot slower than people who work full-time. ;) Thats the reality of being an undergraduate researcher. As a grad student, I realize that the 5:30 11 shift is going to be a lot more normal. 3. An anonymous commenter asked, If I choose (in the next few weeks) to take an advising seminar, but then get to campus and find that my schedule is too full or I dont have enough time, can I switch to traditional advising? There are so many decisions to make about advising/learning groups/extracurricular activities, but I wont get most of the information necessary to make the best decision for me until I get to campus. The word on the street is that yes, you can drop your advising seminar if you choose to do so, although I get the feeling that its really not encouraged. The good thing is that advising seminars, though worth 6 units of credit, do not really take up six hours of your week. I dont think taking an advising seminar should stop you from being able to pick up an extracurricular, or a job, or whatever you choose to throw at yourself. Its just six units of free credit and a bunch of free food. :) Ultimately, I think you should choose seminar-based advising if youre excited about the seminars youve chosen, and not just because you think you ought to. But you shouldnt feel like doing seminar-based advising will keep you from any of the cool things you can do at MIT, either. 4. Alice gets a gold star for making me a sleep statistics celebrity. 5. Another anonymous commenter asked, Is there any point to getting a debit or credit card in college when we have TechCash? Oh dear, yes. I mean, I dont know about you, but I buy a lot of things other than food. Like books on Amazon and sundresses at FCUK. TechCash is wonderful for buying food on campus, but what if you want to order hot dogs or frozen yogurt? People here mostly have checking accounts with either MIT Federal Credit Union (ATMs in Tech Square, the Student Center, Stata, and the Infinite) or Bank of America. There are always impassioned debates about which cares more about you as a person, et cetera, and youll want to check out both before committing to one. (For what its worth, I heartily recommend a debit card over a credit card. Many of my friends from home are graduating college with about a zillion dollars in credit card debt, because they were like Oh man, look how cool that new HDTV is! I may not have the money to buy it, but, hey, I do have this shiny credit card! Not good.) I have Bank of America. They keep my money, and sometimes I take it out and spend it. It works out well for me. ;) 4. John asked, I just saw your entry on MacGregor and I saw all the different rooms. How does one go about lofting a bed? Do they need to buy anything, or do the beds just kind of have the feature? The beds are automatically loftable in MacGregor the bedframe has hooks on the end, and the headboard and footboard have ladder-like notches. You can pick where you want your bed to be, although the highest you can get it is about 3.5 or 4 feet. If you want it any higher than that, youll have to scrounge around for some cinderblocks. (Hint: Theyre in the hall closets!)

Whats a Good SAT Subject Test Score

The great majority of colleges require scores from either the SAT or ACT for admissions. There are far fewer schools that require SAT Subject Tests, and those schools tend to be some of the most selective in the country. As a result, most students who take SAT Subject Tests are strong, and average scores on the Subject Tests tend to be quite a bit higher than typical scores on the SAT general exam. Thus, even though SAT Subject Tests use the same 800-point scale as the regular SAT, dont make the mistake of comparing scores on the two types of exam. Important SAT Subject Test Facts Like the sections of the regular SAT, the Subject Tests are scored on an 800-point scale.An average SAT Subject Test score tends to be well over 600, much higher than averages for the math and reading/writing sections of the regular SAT.Only a small percentage of colleges require SAT Subject Tests.A colleges Subject Test policies might be different for specific programs and for home-schooled students. What Is an Average SAT Subject Test Score? Average scores on Subject Tests are typically well above 600, and top colleges will often be looking for scores up in the 700s. For example, the mean score on the SAT Chemistry subject test is a 666.  By contrast, the average score for the regular SAT is a 536 for the evidence-based reading and writing exam, and a 531 for the math section. Getting an average score on an SAT Subject Test is more of an accomplishment than receiving an average score on the general exam, for youre competing against a much stronger pool of test-takers. That said, applicants to top colleges tend to be outstanding students, so you dont want to be simply average within the applicant pool. SAT Subject Test Scores Are Losing Importance Its also important to note that SAT Subject Tests have been losing favor among college admissions offices in recent years. Several of the Ivy League schools no longer require SAT Subject Test scores (although they do still recommend them), and other colleges such as Bryn Mawr have moved to test-optional admissions. In fact, only a small handful of colleges require SAT Subject Tests for all applicants.   More typical is a college that requires Subject Test scores for some applicants (for example, the math subject test for engineering students), or a college that wants to see Subject Test scores from home-schooled applicants. You will also find some colleges that have a test-flexible admissions policy and will accept scores from SAT Subject Tests, AP exams, and other tests in place of the more typical SAT and ACT. Will the Redesigned SAT Kill SAT Subject Tests? Several colleges and universities have announced that they are phasing out their Subject Test requirements because of the redesigned SAT that launched in March of 2016. The old SAT had purported to be an aptitude test that tested your ability rather than what you had learned in school. The ACT, on the other hand, has always been an achievement test that attempts to measure what youve learned in school.   As a result, many colleges did not require SAT Subject Tests for students who took the ACT because the ACT was already measuring a students achievement in different academic subjects. Now that the SAT has given up on any hint of measuring ability and is now much more like the ACT, the need for Subject Tests to measure an applicants subject-specific knowledge is less necessary. Indeed, it wouldnt be surprising to see the SAT subject tests become optional for all colleges in the coming years, and we may even see the exams disappear altogether if demand drops so low that they arent worth the College Boards resources to create and administer the exams. But for now, students applying to many top-tier colleges should still take the exams. SAT Subject Test Scores by Subject: Mean scores for SAT Subject Tests vary considerably from subject to subject. The articles below provide score information for some of the most popular SAT Subject Tests, so you can use them to see how you measure up to other test-takers: Biology Subject Test ScoresChemistry Subject Test ScoresLiterature Subject Test ScoresMath Subject Test ScoresPhysics Subject Test Scores Should You Take SAT Subject Tests? If your budget allows (see SAT costs), it is a good idea for students applying to highly selective schools take SAT Subject Tests. For example, if youre taking AP Biology, go ahead and take the SAT Biology Subject Test as well. Its true that many top-tier schools dont require Subject Tests, but many do encourage them. If you think youll perform well on the exams, taking them can add one more piece of evidence to your application that you are well prepared for college.

Truth about Trust - Free Essay Example

Sample details Pages: 3 Words: 782 Downloads: 8 Date added: 2019/04/01 Category Society Essay Level High school Tags: Truth Essay Did you like this example? Out of all the things humans desire from life, trust is most vital in all. One of the most consequential aspects in a relationship is the bond of trust between two individuals. The word trust is defined by Merriam-Websters online dictionary as an assured reliance on the characters, ability, strength, or truth of someone or something. Don’t waste time! Our writers will create an original "Truth about Trust" essay for you Create order However in actuality, trust is being able to fully place confidence in another. Just like confidence, one cannot gain it in a single day, it takes months or even years to gain confidence in ones self. Confidence and trust are one with another if someone were to mock someone else their confidence may diminish. Trust is precisely related to that as well. Despite the fact it takes a long time to build the foundation and gain trust thoroughly from another individual, it can easily be disoriented in a single moment. Trust is placing faith in a single individual despite the outcome that could occur. It is a very important attribute to have in a relationship because trust is what creates the foundation. Without trust in a relationship, there truly is no relationship, to begin with. When determining whether or not a person is reliable to trust it becomes merely based on their character and how that person acts. There are two types of people that I have run into in my life that believe trust is used differently, there are the people who take advantage of the trust someone has given them and use it to get what he or she wants, per se an intimate relationship. However, there are also people that will go to desperate measures in order to prove to someone that they are worthy of trust and constantly do so by avoiding situations that cost them the disintegration of it. This generation has been taught that trust is a given, thinking trust just appears out of nowhere and is either stands for a lifetime or strangles off to nothing. Trust does indeed take time, effort and accountability. In order to fully trust someone, a person must prove they are worthy of anothers time because trust is not freely given, it is one that is earned. That being said, many relationships are more important than others, therefore, trust is a more valuable thing to someone. Within a relationship, there can also be multiple layers of trust. When you meet a new friend and have had a few experiences with them to acknowledge their behavior leading to how they may react to certain things, their credibility and accountability could fulfill the feeling to feel safe enough to trust them in your everyday life. Or, there is a level of trust that usually, spouses, couples and families can relate to, a trust that has encouraged and enhanced the transparency of honesty to one another, en couraging nothing else but the trust of the other person to help throughout a struggle, one that proves the loyalty and understanding of each other. Different levels of trust can come in all forms. That being said, in a situation when a child has broken the trust with their parent it leads to higher consequences. A prime example of a level of trust and the delicacy it portrays can be found in relationships, there must be a receiving trust from both individuals in a relationship or the foundation is misleading, with no foundation and only one person putting in their all can lead to the other person having confidence loss by not feeling worthy enough of trust from the other. A relationship will not continue if one side is trusting in all and the other not, it is just as good as having no relationship at all. Having a strong, trustworthy bond in a relationship allows both sides to grow as one. Now say something has been done leading to the trust between two individuals to whither, it is most important to remember what is at stake; the relationship. Being someone who has experienced the true loss of trust with someone, it is not an e asy position to be in, especially if the other person is hurt in the process. Gaining trust back is equally as hard as earning trust from someone, it is a cycle of an act of faith. By having faith in another person allows them to acknowledge you believe in them and the commitment shares a relationship as a whole. Trust most definitely will be misplaced, it happens uncontrollably. By increasing ones willingness to have even the slightest bit of faith to put into trust will make any relationship stronger and long-lasting. Trust, therefore, is very important to everyone because, without it, we cannot live in unity.

Finance reviewer †midterm Free Essays

Types of Market 1 . Physical asset markets (also called â€Å"tangible† or â€Å"real† asset markets) vs. Financial asset markets – Physical asset markers are for products such as wheat, autos, real estate etc. We will write a custom essay sample on Finance reviewer – midterm or any similar topic only for you Order Now Financial asset market deals with stocks, bonds, notes and mortgages. 2. Spot Market vs. Future Markets – Spot markets are markets in which assets are bought or sold on the spot. Future Markets are markets in which participants agree today to buy or sell an asset at some future date. 3. Money markets vs. Capital market – Money markets are short term, highly liquid debt securities. Capital markets are for Intermediate or long term debt and corporate stocks. 4. Primary markets vs. secondary markets – primary are which corporate raise new capital. Secondary, which securities and other financial assets are traded among vectors after they have been issued by corporations. 5. Private vs. Public Markets – Private Markets, which transactions are worked out directly between 2 parties. Public Markets, which standardized contracts are traded on organized exchanges. CAPITAL MARKET Capital Markets A component of financial markets where long-term borrowing takes place Are arrests for buying and selling equity and debt instruments The Market where investment instruments like bonds and equities are traded (Maturity period) Lasts for more than 1 year and can also include life-time of a company New York Stock Exchange or NYSE is the most popular capital market It channel savings and Investments between suppliers of capital (such as retail Investors and Institutional Investors) and users of capital (Like business, government and Individuals) Suppliers of Capital Markets. How to cite Finance reviewer – midterm, Papers

Le Corbusier Five Points Of Architecture Essay Example For Students

Le Corbusier Five Points Of Architecture Essay ArchitectureOne career that I have been interested in for a long time is architecture. Architects are involved in the negotiation, design, and the supervision of construction of a clients request. This may be from something as simple as a house add-on, to something as grande as a shopping mall. Architecture has interested me for many years. I have always enjoyed the great detail and thorough drawings that are involved. The past two years I have taken the COPS and the CAPS tests, and both of the results stated that architecture would be a good career choice for me. Throughout my high school and middle school years, I have always done very well in math. It is good that I learn all of the techniques now, because architects use difficult mathematical functions just as much as they use art and design. The use of angles, dimensions, and all fields of geometry are used daily to make sure that the structure they are designing comes out to scale, with all the right angles, and dimensions that the!client requested. An architect is not an easy career to succeed in. Although once an architect does succeed, it is very well worth it. Most architects work an average of 40 to 45 hour weeks (Career Information Center, vol 4, pg 115-117). However, if the job needs to get finished to meet the deadline, they may spend much more than 40 hours working during that time. An architectural firm is where most architects work, but some work in their own firm. The office is like most offices, and can be referred to as the Daily Grime. Education and training to become an architect is not easy. Every architect in the United States is required to have a license. College is very important. Most universities offer architecture as a major. Most schools that offer this major, usually have a separate school for an architectural degree. This degree consists of a 5-year program that leads to a bachelor of architecture degree. Courses in this program consist of classes in engineering, architectural design, buildin!g constru ction, structural theory, professional administration, and graphic representation (C.I.C., vol 4, pg 155-117). After you graduate, and obtain your bachelor degree, you go on to work in an architectural firm, but not as an architect. Instead you would work as a junior drafter, making models, and lettering. Then when you are ready to move on, you would become a senior drafter. This is where you become responsible for details in preliminary drawings. This goes on for about three years. At the end of the term, you become eligible to take the state licensing exam. The exam is a very crucial test for your architectural career, and tests you on the theory and history of architecture, construction, engineering, design, and professional practice (C.I.C., vol 4, pg 115-117). As of now, I am taking an ROP construction class. In this class, we just finished building a permanent wrestling room. We are in fact the first high school construction team in the United States to build a !permanent buil ding. Now we are finishing up another building, except this one is a portable class room. This course has given me great experience in construction, reading plans, following plans, and obeying all of the building codes. My geometry and trigonometry courses will help, and my eye for drawing will be a big factor also. All these things that have been completed in high school will help me on my way to become an architect. Salary is also important, especially if you are trying to raise a family. On average, an architects salary is around $40,000 to $60,000 a year. If you become a senior architect, you can make a salary as high as $80,000 or $90,000. Those few that start their own successful firm, or becomes a partner in a large firm by working themselves up, can make a salary in excess of $120,000. Depending on your skill as an architect, you could make a very comfortable life for yours..elf.Architects have many advancement opportunities, although to take advantage of any, you must be li censed. If you are looking for advancement, your best place to look would be in an architectural firm. Most architects that do take an advancement usually either stay within the firm, or move out of architecture. Opportunities within the firm include specification writers, which deals with preparing technical information for the architects. This type of job is very common within a firm. Just because you have your license and work in a firm, does not mean you have to be an architect. You could also hire new architects and just run your firm. Ifyou are looking for an advancement opportunity outside of architecture, you can look at jobs managing and running construction sites. Or you could get out of construction all together and become an interior design or, or landscape architect, which deals with landscapes, as opposed to the structure itself. The employment outlook for architec!ts greatly depends on the current market, and the economy. In 1994, there were 96,000 architects (C.I.C., vol 4, pg 115-117). As we move on in the future, computers architect becoming a bigger part of our lives. Programs such as CAD design programs allow architects to use computers to calculate technical information. .udfa22aed35d06faf2714e3999d9e7a2a , .udfa22aed35d06faf2714e3999d9e7a2a .postImageUrl , .udfa22aed35d06faf2714e3999d9e7a2a .centered-text-area { min-height: 80px; position: relative; } .udfa22aed35d06faf2714e3999d9e7a2a , .udfa22aed35d06faf2714e3999d9e7a2a:hover , .udfa22aed35d06faf2714e3999d9e7a2a:visited , .udfa22aed35d06faf2714e3999d9e7a2a:active { border:0!important; } .udfa22aed35d06faf2714e3999d9e7a2a .clearfix:after { content: ""; display: table; clear: both; } .udfa22aed35d06faf2714e3999d9e7a2a { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .udfa22aed35d06faf2714e3999d9e7a2a:active , .udfa22aed35d06faf2714e3999d9e7a2a:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .udfa22aed35d06faf2714e3999d9e7a2a .centered-text-area { width: 100%; position: relative ; } .udfa22aed35d06faf2714e3999d9e7a2a .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .udfa22aed35d06faf2714e3999d9e7a2a .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .udfa22aed35d06faf2714e3999d9e7a2a .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .udfa22aed35d06faf2714e3999d9e7a2a:hover .ctaButton { background-color: #34495E!important; } .udfa22aed35d06faf2714e3999d9e7a2a .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .udfa22aed35d06faf2714e3999d9e7a2a .udfa22aed35d06faf2714e3999d9e7a2a-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .udfa22aed35d06faf2714e3999d9e7a2a:after { content: ""; display: block; clear: both; } READ: The Masque Of The Red Death By Edgar Allan Poe EssayMany people say that it isnt what you know, it s who you know. This may be true in the architectural field. If you know an architect or have a friend that owns a firm, you probably have a better chance that most people. Following that statement, our good friend and ex-neighbor works for a big firm in Arizona. This may pay off in my journey to become an architect. Architects such as Frank Lloyd Wright and Louis Henry Sullivan spent many years studying to become the phenomenal architects that they were. Wrights mother for example put paintings of Roman Cathedrals in his nursery, because she knew that he was going to be an a rchitect. Most architects have their very own distinct style, and these are usually the higher paid ones. Sullivan loved using the arch, in almost all of his buildings, while Wright enjoyed using geometrical figures in his structures. At 91 years old, Wright died before his last building would be finished. He was named the greatest architect ever by many d!ifferent people and magazines. This type of architect was never in it for the money. If I follow the plans that I intend to follow, I should receive my license by the time I am about thirty. That depends on many factors, like if I decide to change my major. Hopefully I will start my own business, I succeed. Unfortunately, not all architects succeed. This research paper has taught me a lot of information on architecture that I would have never known about if I didnt do this paper. I am very glad that I wrote this paper. Architecture is a filed of study thatrequires much preparedness, and a lot of long days and short nights. I may d ecide to use this paper for my senior exhibition next year, depending on my work in architecture for the next fifteen months. If something comes out, like a model, or a summer architectural job, then it may be a good senior exhibition. Architecture is a very important field for both the American economy, and for Americas beauty. Without creative architects like Wright and Sullivan, the world would be a very boring place. Hopefully architecture never becomes dull. BibliographyArchitect.NewYork:SimonandSchusterMacmillan,1996. Vol.4ofCareerInformationCenter.14 vols.Architecture on the World Wide Web.GiovanniCaprioglio. Italian Architect.http://www.geocities.com/~Caprioglio/progrecenti.htm Frei,Hans.LouisHenrySullivan. Zrich:Artemis Verlags,1992. Mcdonough,YonaZeldis.FrankLloydWright. NewYork:ChelseaHousePublishers,1992.

Ijtihad in Islamic Banking

Abstract Ijtihad has various definitions and meanings particularly drawn from the views of highly respected Muslim scholars and legal practitioners. However, the optimal individual effort in an action becomes distinct. The most important definition of Ijtihad is the optimal effort individual can put in an action.Advertising We will write a custom essay sample on Ijtihad in Islamic Banking specifically for you for only $16.05 $11/page Learn More With respect to the definition, Ijtihad is where the jurists spent optimal efforts to find a solution to rising issues that need immediate interpretation. Besides, Ijtihad majorly draws from the legal, religious and ethical values of Islam. In addition, Ijtihad must be based on the Shariah laws and principles. Moreover, Ijtihad has been practiced overtime and continuously being applied in various aspects within the Muslim society. Further, Ijtihad is considered the most dynamic source of Islamic laws. The attribut e makes Ijtihad to be the appropriate source of jurisprudence through which dynamic industries such as Islamic banking are based. Even though Shariah principles forms the main legal foundation in which most of Islamic banking products and services are based, Ijtihad enables the flexibility of the Shariah principles to suit the changing needs of the society. In other words, Ijtihad is the source of flexibility required in meeting the changing needs of the society. The paper will be examining Ijtihad, particularly the manner in which the concept is being applied in Islamic banking. Derived Definitions Ijtihad has various meanings within Islamic legal and practical spheres. The common applications of Ijtihad draw from the meaning of being independent reasoning. Within the Islamic legal spheres, Ijtihad means the maximum effort that an individual can put to achieve a particular result. In other words, Ijtihad is the utmost individual effort exerted in an action. Though various definitio ns of the term exist, the most commonly applied is the optimum effort a person can apply in an action (Kamali, 2003). In principle, all the available meanings point to the maximum individual effort that can be applied in an action. Besides, Ijtihad is considered as the personal effort in decision-making process within Islamic law or Shariah. Moreover, the decision-making process should be independent of any jurisprudence or school of thought. In order to have the capability of making independent decisions, Ijtihad majorly draws from the legal, religious and ethical values of Islam.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More In other words, Ijtihad majorly relies from theological knowledge, legal theories and ethical values that have been upheld within the Islamic society. Moreover, the decisions involving Ijtihad require exceptional capability of legal reasoning. Legal reasoning abilit ies are gained through the application of Shariah principles and values of the society (Kamali, 2003). Appropriate Definition In simple meaning, Ijtihad is the self-exertion in any action. However, the attribute of hardship must exist in the action. In other words, Ijtihad is an effort exerted by an individual in any action. In addition, the effort put in place does not apply in physical activity rather in intellectual actions. As such, Ijtihad is the entire outlay of endeavor of well-respected individual Islamic scholars to deduce with increased level of probability that the decision made or solution offered to the a given issues through the application of principles and rules of Shariah drawn from detailed evidence sources is accurate and can be practiced over time (Kamali, 2003). Essentially, the application of Ijtihad involves inferences from various sources, including Shariah. In fact, Ijtihad consists of deductions that result from the probability. From this sense, Ijtihad can not be said to be drawn from the clear texts. In addition, one cannot claim to be practicing Ijtihad by discovery of some important texts, consulting the experts of Quran or the relevant literature without exercising the individual judgment (Kamali, 2003). In other words, individual judgment is an important component of Ijtihad and remains critical in its application. A jurist or mujtahid practices Ijtihad. In fact, one has to meet certain conditions in order to qualify as a jurist. For instance, one has to have vast knowledge and experience in Islamic laws and Shariah principles. Moreover, for one to qualify as a mujtahid, practical experience in the application of Ijtihad is highly required (Kamali, 2003). Therefore, individuals are not qualified to practice Ijtihad except the mujtahid. Further, mujtahids are highly respected Muslim scholars and legal practitioners. Ijtihad involves the formulation of opinions, particularly drawn from personal judgments and practices. However, spe culations are allowed in most of the Ijtihad practices. The occurrence of conjecture entails that the conclusion made is almost certainly accurate, while the likelihood of inaccuracy is done away with (Kamali, 2003). Moreover, the crucial rules of Shariah are eradicated from the scope of Ijtihad. The reason why influential knowledge of Shariah is eliminated is that such knowledge is positive. In the context total expenditure of an effort, the implication is that there is deficiency of further findings besides the one the jurists have spent their efforts. In cases where the mujtahid is unsuccessful in determine what they ought to have revealed, then such substantiations are invalid (Kamali, 2003).Advertising We will write a custom essay sample on Ijtihad in Islamic Banking specifically for you for only $16.05 $11/page Learn More Ijtihad as Source of Islamic Laws Even though Quran and Sunnah form the major sources of Islamic law, Ijtihad provides the thir d source that brings about the required fundamental unity. The main difference that exists between Ijtihad and other sources is that Ijtihad is dynamic and capable of changing depending on the circumstances, time and place (Kamali, 2003). In other words, Ijtihad is continuously developing as opposed to other sources of Islamic laws that ended their legislation upon the death of the prophets. In this regard, Ijtihad remains to be the only framework through which the divine message can be construed. Moreover, the interpreted divine message is then related to the changing circumstances, time and place of the Muslim community (Kamali, 2003). In fact, Ijtihad is critical for the Muslim community, particularly in the ambitions to achieve increased truth, deliverance and impartiality. Moreover, Ijtihad must be derived from the divine disclosure of Islamic laws and principles. Therefore, its validity is continuously measured according to the level in which it corresponds to other sources of Islamic laws (Kamali, 2003). Ijtihad is the main framework through which the level of synchronization between disclosure and explanation required in the Shariah is provided, attained and maintained. In fact, besides Quran and Sunnah, other sources of Islamic laws are expressions of Ijtihad (Kamali, 2003). However, differences normally exist in the expressions, which are critical in the growth and development of Ijtihad. The differences that exist in diverse expressions are the source of transformations required to suit different circumstances, times and places within the Muslim society. Moreover, the differences must be practical in disposition. Ijtihad always finds consensus on public opinion, juristic preferences and takes into consideration public interests as well as correspondence (Kamali, 2003). The Scope of Ijtihad Ijtihad must be practiced within the Shariah laws and principles (Kamali, 2003). The reason is that Ijtihad is concerned with the practical rules of Shariah, whic h control the demeanor of individuals to whom the set of laws pertain. In other words, the application of Ijtihad is not only restricted to purely rational and habitual issues but to issues that are discernible to sanity. However, Ijtihad does not deduce from proofs with unswerving connotation, or that does not necessitate further explanation, particularly from the Quran (Kamali, 2003). In other words, issues that have one correct view cannot be deduced in Ijtihad. For instance, the creation of the universe, the God’s existence, the obligatory status of the pillars of Islam as well as the existence of the prophets cannot be applied concerning Ijtihad. The reason is that such issues are evident truths of Shariah, which are exercised as they are in the texts (Kamali, 2003).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Generally, Ijtihad surmise from substantiations that are genuine but tentative in implication (Kamali, 2003). Moreover, Ijtihad draws from confirmations that have unconvinced legitimacy but have unambiguous connotation. In addition, Ijtihad draws from proofs that are exploratory in both legitimacy and denotation. In all these issues, Ijtihad will normally take the form of analogical deduction, juristic inclinations as well as the consideration of the public interests. The Value of Ijtihad One of the critical aspects of Ijtihad is that it is a religious obligation. In addition, Ijtihad is a shared commitment of the qualified mujtahid in matters that need further analysis. However, mujtahid has individual responsibilities of providing guidance on issues that may arise and need further interpretation from the religious sources (Kamali, 2003). Moreover, Ijtihad becomes critical in the event that the possibility of losing the cause of justice or truth is increased, particularly when the explanations is not provided. In most cases, Ijtihad has to be applied in issues that directly affect the society, particularly where ambiguity in meaning is present. Moreover, Ijtihad is recommended in all cases that have no contradictions in meaning and need further elucidations of mujtahid (Kamali, 2003). However, Ijtihad is not often drawn on when contradictions in the explanation of critical set of laws of Quran exists. The conclusions that are reached under the tenets of Ijtihad have to be observed whether challenged or not since such decisions are practically the same as divine authority. As such, any decision under Ijtihad is considered applicable irrespective of being challenged. The reason is that the challenge may arise from various periods or circumstances (Kamali, 2003). In other words, the decision reached or provided under Ijtihad is valid under prearranged circumstances. The Practice of Ijtihad in the Modern Muslim Society Ijtihad is also considered as one of the sou rces of Sunni law. In most cases, respected and qualified Muslim scholars and practitioners have the task of making Ijtihad decisions. Jurists charged with making Itjihad decisions commonly known as the mujtahid must have particular qualifications or meet certain conditions. In fact, mujtahid is highly respected Islamic scholars. Most importantly, Quran and Hadith form the basis through which the knowledge of Ijtihad is majorly drawn (Kamali, 2003). In other words, the scholars apply the Islamic principles as well as analogical reasoning to provide solutions to the problems affecting the society. In most cases, majority argues that scholars have the religious duty of applying analogical reasoning to find legal solutions to the problems affecting the society. Ijtihad has been practiced for centuries and has offered legal solutions besides the Shariah laws. However, the relationship between the legal decisions drawn from Shariah laws and Ijtihad is diminutive (Kamali, 2003). In fact, Muslim scholars are expected to be competent while interpreting Ijtihad through the application of Shariah principles. The application of Ijtihad in the current Muslim society has been questioned. However, most Muslim scholars argue that without Ijtihad, various decisions regarding diverse aspects of society cannot be attained by the application of Shariah laws only (Kamali, 2003). The fact is that Shariah laws and principles are static. In other words, the Shariah laws and principles are definitely distinct and need no further interpretations. Such legal matters have to be applied as definite within the Shariah laws. Without Ijtihad, dynamic industries such as banking and finance could have not been operational. Ijtihad is the source of Islamic laws that allows flexibility. In other words, Ijtihad is applied depending on circumstances, time and place. Therefore, an argument that Ijtihad cannot be applied in the contemporary society is invalid. Essentially Ijtihad has to be applied together with Shariah in order to gain some elasticity in various decisions that require interpretation of the Islamic laws (Kamali, 2003). Ijtihad and the Islamic Banking The majority of current legal decisions regarding financial products within the Islamic banking system borrow hugely from the principles of Ijtihad. The reason is that the principles of Ijtihad suit the changing circumstances at diverse periods and places (Kamali, 2003). In fact, new laws governing Islamic banking processes are reached upon by acknowledging the rationale of the previous rulings as well as the significance of the derived benefits under the changing circumstances. In the context of Islamic banking and finance, Ijtihad is used to derive governing rules drawn from the basic principles of Shariah to address the needs of the people at different times and places (Kamali, 2003). In principle, Ijtihad forms the legal basis that has increased capability of changing. In other words, Ijtihad rules are capable of changing depending on the circumstances, period and places. Due to the adaptability, Ijtihad can be applied suitably in such areas as economics and finance that constantly change with time (Kamali, 2003). In definite context, the pecuniary set of laws derived from Ijtihad is liable to adjust in terms of the perspective of its usage. In addition, novel financial set of laws should focus on the activities that increase the well-being of all the stakeholders. In other words, attaining the optimal benefits to the stakeholders should be the major goal of coming up with financial regulations through the application of Ijtihad within Islamic banking dealings. The Development of Islamic Banking Products and Services As indicated, all processes of Islamic banks are controlled by Shariah laws. In other words, Shariah principles are used to control all matters of Islam, including economic, social, political and cultural aspects of society (Kamali, 2003). Ijtihad, being reasoning from quali fied scholars, is one of the significant sources of Islamic laws that control the processes of Islamic banking. In fact, the current Islamic banking processes, products and services offered are developed through the application of two important concepts. The first approach is through the identification of existing up to standard predictable products and services. The conformist products and services are then custom-made through the removal of prohibited elements in order to be compliant with Shariah principles. Secondly, Islamic laws are drawn on to aid in coming up with innovative and novel banking products and services that are acceptable to the stakeholders (Kamali, 2003). The approaches also apply Ijtihad in order to come up with products and services that endure time. In other words, products and services that changes with adjustments in time and place. In addition, the development of the Islamic banking products and services borrows hugely from the theoretical perspectives suc h as human relations. In fact, such assumptions are based on the practices of Islamic laws. Ijtihad is one of the sources of Islamic laws that form the fundamental reference to the application of the theoretical perspectives (Kamali, 2003). The theory of human relations is normally applied in the development of Islamic banking products and services. Moreover, the principle of human relations forms the basis of all the Islamic commercial laws and regulations. The principle of human relations are founded within Ijtihad and is closely related to Shariah principles that are concerned with respect for universal emancipations, social justice, impartiality, economic freedom, transparency and responsibility in all pecuniary issues (Kamali, 2003). Besides, the Shariah principles require that the Islamic banking system operate within the acceptable limits of Shariah laws. In other words, the financial transactions and agreements should not include elements that are prohibited by law such as w rongful gains, products as well as processes that are forbidden in Islamic practices. Ijtihad rules govern the financial transactions, agreements, products and services of Islamic banking and are in agreement with the Shariah principles (Kamali, 2003). In fact, most Islamic scholars agree that Islamic banking processes and procedures should be anchored within the Shariah principles. Moreover, the Islamic scholars agree that the Islamic banking regulations should integrate both the religious principles and ethical values. In other words, both the religious and ethical values should be applied in the transactions as well as product and services development. In fact, Ijtihad in agreement with Shariah principles forms the basis in which most products and services offered by Islamic banking are developed (Kamali, 2003). The case in point is where the major product offered to the probable clients is asset funding. In fact, the stated asset funding is based on the concept of income distrib ution, which is always undertaken in the form of Murabahah. Additionally, the model of sharing the proceeds is carried out in the form of profit and loss sharing principles commonly known as the Musharakah (Kamali, 2003). According to the Islamic banking system, Murabahah contracts are constantly developed to form the basis in which the working capital through short-term financing can be achieved. Both Musharakah and Murabahah are Islamic banking products that originate from the Shariah principles (Kamali, 2003). In other words, the products are within the confines of Shariah laws and principles. However, with changing circumstances, the financial products need to expand in order to take into consideration the changing needs of the people in different places in the world and at diverse times. The only source through which such changes can be taken into consideration is Ijtihad (Kamali, 2003). Essentially, Ijtihad provides the framework through which changes that have occurred can be incorporated and harmonised with Shariah principles. Even though transformations have to be taken into consideration, the products have to remain within the confines of Shariah. The evolution occuring in the financial market has also resulted into new products and services. Since other sources of Islamic laws terminated with the death of the divine prophet, Ijtihad remains to be the only way through which these new products can be defined within the Shariah principles (Kamali, 2003). For instance, in the conventional Islamic banking system, the Shariah rules were utilised in the design of debt financing procedures. However, the changing needs of the market enabled increased capabilities to deal with the coming challenges. According to the Shariah rules, principal asset or assets must be backed by any transactions (Kamali, 2003). Ijtihad provides solution to the conflict existing in the current understanding of the asset and the conventional requirements of the Islamic laws. Essenti ally, the current Islamic banking system applies the dynamic system of belief of Ijtihad in the development of the products and services. Besides, the dynamic tenets of Shariah to practical social, economic and institutional issues and problems of the society can only be explained through Ijtihad (Kamali, 2003). As such, Ijtihad is commonly applied in the interpretation of Shariah principles to provide for changes needed in the social, economic and institutional developments. Moreover, Ijtihad takes into consideration the developments of Shariah regarding individual and social preferences as well as in relation to the institutional codes of belief for public purpose. Besides, the application of preference theory in the development of new products in Islamic banking draws majorly from Ijtihad interpretations of Shariah principles. The preference theory is considered to be advocating for social well-being in the current Muslim society. Ijtihad results into the changes that incorporate the social and economic welfare, which primarily form the basis of new products in the Islamic banking system. Ijtihad forms the framework through which Shariah principles can be developed to consider changes in the society (Kamali, 2003). According to the preference theory scholars, the principles through which Shariah can be developed include the collective clearness as well as the alteration of Shariah to expected and regional demarcation of customs and practices (Kamali, 2003). In addition, Shariah must link the probability of action to the level of physical effort offered. Combining these characteristics is critical in the development of new products that are in line with increasing the social interests of the Muslim community (Kamali, 2003). In other words, the principles are geared towards developing the social security of the Muslim society. Moreover, the principles eradicate inconsistencies that may arise due to changes in the circumstances, places and time. In reality, th e combinations of the principles result in unity, which is essential Shariah requirement (Kamali, 2003). Further, according to preference concepts, the relevance of the Shariah main beliefs do away with incongruity, divergences and discrepancies within the main source of law resulting in unanimity at the elemental stages. The proponents of the theory also argue that the variations as well as differences that are found at the secondary level are not premeditated purpose of the decree (Kamali, 2003). In addition, the aspects of the theoretical perspective of Shariah augment the dynamic view to the ethical laws, which are greatly applied at the institutional levels. The application of transformational nature of moral laws and principles based on the Shariah laws enables institutions such as Islamic banking find ways of developing products and services that suit the needs of society. Moreover, the application of integrating principles of preference theory as well as interactive preferen ces of members of society forms the basis in which modern Islamic institutions develop. In fact, the consideration of necessities of life remains to be a significant elemental in the development of the life-fulfilling products and services. At the basis of preference conceptual framework, social needs for comfort and refinement of life remain critical components (Kamali, 2003). Basic needs and comfort, as well as refinements, are considered critical life-fulfillments at the higher levels of socio-economic developments. Therefore, important and relevant institutions such as banking and finance have to consider such fundamental components while developing products and services. Besides, the dynamic basic needs of socio-economic development are construed within the concepts of preference theory, which advocates for the public course. As such, all the institutions within Islamic society have to be established for public purpose. Essentially, the preference concepts are based on Ijtihad, which forms the basis for the interpretation of Shariah (Kamali, 2003). Ijtihad and the Standardisation of Islamic Banking Procedures Standardisation is one of the major emerging issues in current Islamic banking system. Islamic scholars are debating on whether standardisation is possible under the Islamic banking system. Majority of Islamic scholars have argued that standardisation is not possible under the tenets of Islamic laws governing the processes of Islamic banking system. According to the conventional scholars, Ijtihad makes consistency of Islamic banking practices impossible (Kamali, 2003). However, the proponents of the standardisation argue that being deficient in homogeneous regulations impede innovation. The reason is that each jurisdiction will always advocate for what is best in their circumstances. In addition, most of the proponents of standardisation argue that in order to enhance development in the banking sector, a global framework is highly required. Further, with the increased asset value and rapid expansion of Islamic banking system, there is need for a strong global and homogeneous regulatory framework. Moreover, deficiency in Islamic money markets, insufficient derived market for Sukuk as well as feeble liquidity infrastructure further deteriorates the Islamic banking system. In other words, standardisation will enable Islamic banking benefit from the developed global money market as well as infrastructure. On the contrary, opponents of harmonisation of Islamic banking procedures argue that standardisation does not enable creativity in the development of new products. Moreover, standardisation of the Islamic banking procedures may lead to the move towards conventional banking system creating no differences and violates the Islamic principles upon which the Islamic banking system is created. Even in the situation where Islamic rules are applied, standardisation enables the rules become more difficult to apply particularly with the int roduction of new products and services. In addition, most of the bankers are unfamiliar with several Islamic financial concepts making it difficult to implement uniform regulations in some boarders (Kamali, 2003). Moreover, there is lack of unvarying documents available to the public on the Shariah resolutions upon which the standardised regulations can be referred. Most importantly, the differences arising from diverse Islamic scholarly views on the issue of conformity with Shariah principles makes it difficult to standardise the operations of Islamic banking system (Kamali, 2003). As a result, most interpretations of various opinions are conducted within Ijtihad. In the current Islamic banking system, Ijtihad is applied in the clarification of concepts, principles as well as conditions of Shariah particularly in contractual agreements. Moreover, Ijtihad provides the basis in which certain decisions are made regarding matters relating to Shariah conditions, mechanisms and implement ation of contractual agreements. As indicated, Ijtihad remains a critical element in which the design and development of new Islamic banking products and systems are based (Kamali, 2003). Moreover, standardisation would mean synchronising some of the Shariah principles, which is against the religious practices. In order to avoid such contradictions, the functioning of various institutions, including the Islamic banking should be given wider interpretations of the law, including Ijtihad. However, such interpretations should be drawn from the Shariah principles. Besides, the need to change with the changing circumstances explains the reason why banking procedures cannot be standardised. Harmonisation of rules and procedures is not applicable in highly dynamic industries such as banking and finance. In fact, the standardisation of rules and procedures under the Shariah laws is against the fundamental assumptions of Ijtihad. Actually, Ijtihad has existed for many centuries and has been applied in Islamic banking and finance industry to establish changes required depending on the circumstances. Under the situations where the regulatory framework is highly considered, Ijtihad is not applicable. The application of consistent rules is also against the principle that Shariah law can be applied at all the time and places. Essentially, Ijtihad is what makes Shariah dynamic and capable of being applied in diverse circumstances. Reference Kamali, M. H. (2003). Principles of Islamic jurisprudence. Cambridge, UK: Islamic Texts Society. This essay on Ijtihad in Islamic Banking was written and submitted by user Brianna Snyder to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. 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Martin Luther was born to Hans and Margaretta Luther in 1483. According to Bainton Martin Luther was â€Å"highly esteemed at home. His parents looked to him as a lad of brilliant parts who should become a jurist, make a prosperous marriage, and support them in their old age.† (p.24,25). Which explains why Hans Luther was upset at his son for taking the cowl. Bainton explains Luther’s reasons for this. In the first chapter of the book, The Vow, as Luther gets struck by lightening he screams out â€Å"St. Anne help me! I will become a monk.† Luther was determined to keep his vow and he felt that this would earn his salvation. Bainton explains why earning ones salvation was very important in these times†¦ The Church taught that no sensible person would wait until his deathbed to make an act of contrition and plead for grace. From the beginning to end the only secure course was to lay hold of every help the church had to offer: sacraments, pilgrimages, indulgences, the intercession of the saints†¦And what better could he (Luther) do than take the cowl?† p. 30-32 This is the part of Luther I respect the most, his sincere plight to salvation. I admit it seems to be driven by fear, which was imbedded into him from a very young age and through school and throughout his life, but never the less I find the drive and motivation of his plight very admirable. If not for Luther's depth of brutal honesty in his own struggle to know God many of the people in America today would still be living in times when what the priest said is what God said. Which I have to admit, I feel many people are content being spoon-fed. But for those of use will not settle for the word of the priest Luther is a pioneer. Luther ineffectually fought his way toward God through "works". His father brought to his attention that circumstances surrounding his vow could be the work of God, but it could also be th... Free Essays on Here I Stand Free Essays on Here I Stand Martin Luther was born to Hans and Margaretta Luther in 1483. According to Bainton Martin Luther was â€Å"highly esteemed at home. His parents looked to him as a lad of brilliant parts who should become a jurist, make a prosperous marriage, and support them in their old age.† (p.24,25). Which explains why Hans Luther was upset at his son for taking the cowl. Bainton explains Luther’s reasons for this. In the first chapter of the book, The Vow, as Luther gets struck by lightening he screams out â€Å"St. Anne help me! I will become a monk.† Luther was determined to keep his vow and he felt that this would earn his salvation. Bainton explains why earning ones salvation was very important in these times†¦ The Church taught that no sensible person would wait until his deathbed to make an act of contrition and plead for grace. From the beginning to end the only secure course was to lay hold of every help the church had to offer: sacraments, pilgrimages, indulgences, the intercession of the saints†¦And what better could he (Luther) do than take the cowl?† p. 30-32 This is the part of Luther I respect the most, his sincere plight to salvation. I admit it seems to be driven by fear, which was imbedded into him from a very young age and through school and throughout his life, but never the less I find the drive and motivation of his plight very admirable. If not for Luther's depth of brutal honesty in his own struggle to know God many of the people in America today would still be living in times when what the priest said is what God said. Which I have to admit, I feel many people are content being spoon-fed. But for those of use will not settle for the word of the priest Luther is a pioneer. Luther ineffectually fought his way toward God through "works". His father brought to his attention that circumstances surrounding his vow could be the work of God, but it could also be th...