Sunday, 10 February 2019

What are educational technology..? and its Contribution to the advancement of educational system.


                 
                All praise is due to Allah, may peace, salutation and the blessing be upon the prophet Muhammad (), his entire family, his companions and those that follow their footsteps with righteous until the last day. Indeed Allah (S.W.T) has blessed the human beings with an amazing talent advancing the technological system throughout the world which drastically contributed in the all occupational career or professions in the area of technology. Moreover in our educational system technology has contributed immensely to the development of our educational system of conducting, delivering lectures and making things easy for the teachers to do their work and be satisfied with their students in participations and active learning system more importantly understand the lecture in ease. First of all define what is Technology..? Technology is derived from a Greek word “techno” which means knowledge, wiliness and skills of the way tool, rule, and “logos” which means science, learning, word and mental state. Moreover, Educational Technology is define as the systematic and organized process of applying the modern technology to improve the quality of our Educational (i.e. optimal or efficiency etc.)  Which the systematic way is of conceptualized the evaluation and execution of our educational process that is teaching and learning to aid the modern educational teaching with an application techniques; including the organization of work and the instructional materials. (Stosic, 2015)
                    Furthermore educational technology has been supportive in improving the educational system through technological advancement which indeed helps the teachers to teach their students easily via using this technological technique in their teaching. 
*      The linear learning system modern technique.
*      The virtual Classroom learning system modern technique.
*      The computer, tablets and mobile device learning system modern technique.
*      The Collaborative learning system modern technique.
*      The Media learning System modern technique.
*      The Social networks learning system modern technique. Etc.



                 Firstly the learning system modern technique, is a computer based training (CBT) which means the self-pace learning goings-on delivery system on a computer or handheld convenient such  as smartphone or tablet; which is among the effective learning system that help our teachers in delivering the lectures. Moreover CBT has recently delivered content by CD (ROM) Read Only Memory and characteristically presented its content linearly i.e. like manual or reading an online in view of that, CBT is used to teach static process system via using of the software or implementation of mathematical equations. Furthermore, the CBT concept is similar to web based training, the main different is CBT delivery system are through using a web browser.
                The assessing learning, in computer based training helps the teacher in making it convenient for them in their delivery system and students assessments. which is easily facilitated by CBT learning system via their technique given multiple choice questions which can be easily scored recorded  by the use of an online software provide immediate end-user comment. Moreover their user completion grade, as they also give them the ability to print their completion grade in the form of certificate in computer system, drag and drop, virtual reality or extra   interactive means.
                  Secondly, the virtual Classroom learning system modern technique known as virtual learning environment (VLE) also known as learning platform. Virtual classroom make it possible via mixing various communication technologies in meeting aims. For instance, web conference software such as WebEx Training, Adobe Connect enables students, GOTOTraining and teachers to communicate through each other by means of microphone, Webcam and real time conversation in a group setting. Members can raise hands, answer polls or take quizzes; students has the inability to used whiteboard and screencast when given rights via the teacher, who set authorization level for the mouse control microphone, and text notes. Moreover virtual classroom provide the opportunity for the students to have direct instruction from an eligible tutor in an interactive environment.
                The students can get immediate and direct access to their teacher for immediate direction and feedback, VLE also provide a structured timetable schedule of days, weeks  and months  their time of  classes. Furthermore, every class is recorded and stored on a server where its permit the instance playback of any class course the institution year; which is very relevant for student to review the course material and the concept for upcoming exams and permitted to watch the class you missed. As a result this really aid the students who find the lack of restrictions of asynchronous education to be overwhelming and it also facility social learning environment that replicates the traditional “brick and mortar” classroom. (THE IMPORTANCE OF EDUCATIONAL TECHNOLOGY IN , 2015)
              Thirdly the computer, tablets and mobile device learning system modern technique. This gives the ability to both the students and teachers to access the websites of the particular institution besides programs such as power point (ppt), PDF files, Microsoft Word, and images. However numerous Mobile Devices promote m-learning system. Moreover smartphones and Mobile devices as clickers, have the ability to be used for interactive feedback; and can provide performance assistance for examining the time, retrieving worksheets, tuition manuals and setting reminders. Likewise Open Course Ware (OCW) provides the public free access to info used in both graduate and undergraduate programs. Furthermore Participation institute are Harvard, university of Michigan, MIT, university of Pennsylvania, Stanford. (Cox, 2018)
             Fourthly the Collaborative learning system modern technique is known as Computer Supported Collaborative Learning (CSCL) are used for instructional technique designed to hearten or require learners to work together on learning piece of work to be. Moreover CSCL is also comparable in regards to concept terminologist of E-learning and Network Collaborative learning (NCL); therefore collaborative learning is different from that of the traditional approach to tuition which is the principle source of instructor knowledge and skills. For instance the neologism E-learning this is define as the direct transfer technique used in computer based learning and training system (CBL). An obvious difference between the linear deliveries of content, frequently from teacher direct material CSCL uses cloud based document portal and blogs wikis [for instance Dropbox and Good Docs etc.]
               Furthermore the Media learning System modern technique, the also contribute immensely to the educational system. The educational media and tool system improve the recent educational system which is used task structuring assistance, helping us how to make the task to be done via using the [processes and procedures]. Moreover to access the knowledge bases aid the beneficiary fined an information desirable to both educators and learners; the knowledge of multi representation such as audio, data, video, image and text.
              In conclusion, educational technology has contributed immensely to the development, advancement and improvement of our educational system. Moreover via used of modern technique to ease the formation of our teaching methodologies, application practicing and method of delivery system, used of modern facilities to ease our teaching format, representation via used blogs, web sites, computer system, Microsoft facilities, Dropbox, Good Docs ,Virtual classroom, Open Course Ware  and computer based learning and training system (CBL).




Bibliography

Cox, J. (2018, June 11). Benefits of Technology in the Classroom . Retrieved from TeachHUB: http://www.Benefits of Technology in the Classroom.htm
Stosic, L. &. (2013). International Journal Of Cognitive Research In Science, Engineering And Education. Diffusion of innovation , 1(1), 5-13. Retrieved from Diffusion of innovation in modern school. .
Stosic, L. (2015, June 11). The importance of educational technology in teaching. Retrieved from ResearchGate: http://www.ResearchGate.com
THE IMPORTANCE OF EDUCATIONAL TECHNOLOGY IN . ( 2015, June 23). Retrieved from International Journal of Cognitive Research in Science, Engineering and Education: http://www.(PDF) The importance of educational technology in teaching.htm
Wang, L. E. (2004). Increasng preservice teachers’ self-efcacy beliefs for technology integration. Journal of Research on Technology in Education,, 36(3), 231–250.



Explain how does Time value of Money works? and Islamic perspective on the Time Value of Money?


                             
                  All praise is due to Allah, may peace, salutation and the blessing be upon the prophet Muhammad (), his entire family, his companions and those that follow their footsteps with righteous until the last day. Indeed Time value of money (TVM) can be define as the idea that money that is offered today [Present day] is more worth than to be  received  in future of ; due  to its potential earning  capacity. Moreover, Time value of money is the core principle of economics or finance that provided money and can earn interest, any amount of money is worth more the sooner it is received afterward.
                             First of all I will like to discuss how time value of money (TVM) work in our daily like life activities. This concept time value of money is used in choosing among other investment suggestions. Furthermore, two element are vital in valuation of our cash flows these are: The interest rate (discount rate, opportunity rate and required rate of return) and what time do we need these cash flows to be evaluated…

Time line consideration

                  This shows the timing of each cash flows at a particular period, relatively today be zero but future being one is usually at the end 1st or 2nd period (month, year etc.).
*      The Future value of single cash flows
*      The Present value of single cash flows
*      The Future value of annuities
*      The Present value of annuities
*      The Uneven cash flows
*      The Amortized loans etc.

v  Future value of single cash flows
Produces to solve any FV, you need:
o   The present value
o   No. of years
o   The interest rate                             Example

The Camara Business communication and engineering technologist deposited GMD 100,000 today in a saving account at Guaranty Trust bank first that pays you 4% interest per annum. How much they get after one year..?

FV = PV * (1+I) ^n      FV= GMD 100,000*(1+0.04)    FV=100000*1.04 = GMD 104,000

As PV increase, FV increase. As I increase, FV increase and No. of year increase, FV increase.

v  The Present value of single cash flows example

Produces to solve any FV, you need:
o   The Future value
o   No. of years
o   The interest rate                             
Example
 Smart technologist need GMD 12,000 IC3 tuition expenses in two year. How will you need today in your saving account, with interest of 4% per annum?

FV= GMD 12000 N=2 and I=4%
                                 1                             2                              3                         4
 
Text Box: PV0OO                                                                                                                                        FV2
                            
                               PV= FV* [1/ (1+i)]     PV= 12000* [1/ (1+0.04)]   PV= 12000* 0.9615 = GMD 11538.46  
The Future value of annuities

                     The series of equal cash flows of payments in a particular period, with fixed interval. This consist of two types of payment methods.
o   Annuity Due: Occur at the beginning of period.
o   Ordinary Annuity: occurs at end of period.  

Annuity Due
FVn= PMT [(1+i) ^n -1) /1] (1+i)
Ordinary Annuity
FVn= PMT *[(1+i) ^n-1]


The Present value of annuities is little bit different
Annuity Due
PVn= PMT [1- 1/ (1+i) ^n) / int.] (1+i)
Ordinary Annuity
PVn= PMT *[1-1/ (1+i) ^n/ Int.]

Produces to solve any FV and PV of Annuity, you need:
o   The Annuity amount (PMT)
o   The number of period (n)
o   The interest rate charge (I )

The Uneven cash flows
These type of cash flows contain unequal, how to fine the PV and FV..?
Preset Value
                   0                           1                                 2                          3                              4
Text Box: GMD 100
 

Text Box: ÷ 1.04Text Box: GMD 200Text Box: GMD 180  
        96.15
Text Box: ÷ 1.04^2          110.95
Text Box: ÷ 1.04^3      160.02
Text Box: ÷ 1.04^4      170.96
GMD 538.08
ET.C

The compound and simple interest used in time value of money

*      The Simple Interest: in finding the time value of money, simple interest play a vital role in the finding the only the principal amount. Moreover, it can be calculated by using the formula: Principal * interest [r%]* time [t]
*      The Compound Interest: combined both the principal amount and any other interest earned but is yet to withdrawn from the system. Moreover compound interest typically applied in the most often used in time value of money applications. Example of this application can be :
o   The Future Value of GMD 50: to deposit 50 GMD today and allow to continue accumulating for specific period in future date. 
o   The Present Value of GMD 50: an amount that Muhammad can deposit day to yield GMD 50 at a particular future date.
o   The Future Value of an ordinary annuity of GMD 50: this type annuity normally deposited at the end of each period continue accumulating for specific period in future date.
o   Present Value of an annuity due of GMD 50: This is type of annuity
              Normally deposited at the beginning of each period for specific period in future date.  Please GMD is Gambian currency

INTEREST , TIME AND FREQUENCY OF COMPOUNDING

Chosen rate very year: 12%

Freq. of the Compounding
No. of year every period.
Interest Rate for every Compound
Formula  rate per compounding
Monthly
1%
12
12\1
Quarterly
3%
4
12\4
Semi-annual
6%
2
12\2
Annual
12%
1
12\12
                                                                                                                
                Let me give some example of single sum calculation of future value.
1.    Smart technologist has deposited an amount of GMD 200000 today with us, moreover the interest rate offered is 8% and its frequency of compounding is Annual. Furthermore, the number of period is 6 years. Calculate the future value of this single sum.
                                                              Solution
Amount deposit= 200000,     interest offered= 8%,   frequency comp... Annual and    no. of years= 5
FV= PV * (1+R %) ^Y           FV = 200000*(1+0.11) ^5        FV = 200000*(1.11) ^5   FV= 200000*(1.58687) = GMD 317374

                 Secondly valuation of time in Islamic perspective, as we all know Islamic application of time value of money prohibit interest (Riba) from our economy and is not a new concept in Islamic jurisprudent. Moreover all the scholars of classical jurist have a talk on it indirectly in numerous areas financial transactions such as:
*      Murabaha
*      Bilateral Ibra ( da’ wa ta’ajjal )
*      Stipulation of deferred period in loan (al-qard halam mu’ajjal)
*      The Zakat al-dayn

                   Moreover, the reasons of deferred payment makes the deferred sale price of commodity to be higher than the spot price (thaman hal). Moreover the classical jurists justified the economic value of deferment by acknowledgment that the spot price of an assets is lesser than its deferred price. Islam didn’t recognized any loan for deferral based on TVM designed to benefit the lender, while it recognizing only qard hasan loan.
Economic value of time Shariah admits the concept time value of money prolong pricing sale of a credit, but it doesn’t approve “rental” on money loans. Furthermore time value is permissible in the circumstance of pricing an assets and Usufruct but it is not permissible any circumstance of an increment to the principle debt’s or loans.

                   Conclusion, It is evident that Islam recognized time value of money in it totality, both in practice and theory but different from the conventional perspective of finance. From theory base on predetermined increment and fixed in deferred sale as compensation, is permitted in Islam in a condition it is associated with the price of the subject matter of the contract. This means that deferment (ajal) will not be remunerated with a stipulated and fixed increment quantity in quarantine of price of the transacted commodity furthermore is it better for us to used economic value of time instead of the time of money.





Bibliography

Dawood. 2015. There are concept of time value of money in islam. june 30, . Accessed December 12, 2018. http://www.TVOM\Is There A Concept of 'Time Value of Money' (TVM) in Islam.htm.
Else Fernanda, SE.Ak., M.Sc. 2015. "The Time Value of Money Concept in Islamic Finance." icfi-sesi 17-25.
Khir, Mohamed Fairooz Abdul. 2016. "The Concept Of The Time Value Of Money: A Shari‘Ah Viewpoint." International Journal of Islamic Banking & Finance 2-15.
Robert. 2014 . What You Should Know About The Time Value of Money. June 17. Accessed Novembebr 10, 2018. http://www.What You Should Know About The Time Value of Money.htm.



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                     The praise is due May peace and blessing is upon the last messenger of Allah, his families as well as the sahabas Ame...