Definition of technology

Technology is the usage and knowledge of tools, techniques, crafts, systems or

methods of organization in order to solve a problem or serve some purpose. The
word technology comes fromGreek τεχνολογία (technología); from τέχνη (téchnē),
meaning "art, skill, craft", and -λογία (-logía), meaning "study of-".[1] The term can either
be applied generally or to specific areas: examples include construction
technology, medical technology, and information technology.

Technologies significantly affect human as well as other animal species' ability to control
and adapt to their natural environments. The human species' use of technology began
with the conversion of natural resources into simple tools. The prehistorical discovery of
the ability to control fire increased the available sources of food and the invention of
the wheel helped humans in travelling in and controlling their environment. Recent
technological developments, including theprinting press, the telephone, and the Internet,
have lessened physical barriers to communicationand allowed humans to interact freely
on a global scale. However, not all technology has been used for peaceful purposes;
the development of weapons of ever-increasing destructive power has progressed
throughout history, from clubs to nuclear weapons.

Technology has affected society and its surroundings in a number of ways. In many

societies, technology has helped develop more advanced economies (including
today's global economy) and has allowed the rise of a leisure class. Many technological
processes produce unwanted by-products, known as pollution, and deplete natural
resources, to the detriment of the Earth and its environment. Various implementations of
technology influence the values of a society and new technology often raises new
ethical questions. Examples include the rise of the notion of efficiency in terms of
human productivity, a term originally applied only to machines, and the challenge of
traditional norms.
 New development in technology
Technology means different things to different people, and everyone has their own set of
preferences when it comes to such things. There are plenty of areas where one can look for the
newest gadgets, and here we try and provide a detailed analysis in all of these fields. 

Mobile Technology
The latest fad amongst people all over the world seem to be smartphones. The cell phones that
we use have certainly come a long way since the first wireless models that started hitting the
stores in the 1980's. These phones have become smaller as time has passed by, and now
suddenly they seem to be getting bigger again. Smartphones perform a variety of computing
tasks, in addition to your regular telephony services, and these are mini computers that are
extremely advanced today. All the tasks that you perform on your PC today can also be
performed on your cell phone, and this is a fact that is not missed on people. Pretty much
everyone in the world today is feeling the need for a smartphone now.

In the last 5 years or so, these phones have acquired phenomenal new developing
technologies, and you only need to look at some of the latest models like the Apple iPhone 4,
the Samsung Galaxy S, the HTC Evo 4G and the HTC Desire HD to know what I'm talking
about. Today you can check your email on these devices, surf the Internet, chat with people
from all around the world, play some unbelievable mobile games and watch movies on
extremely clear screens. Have a look at the Retina-Eye display of the iPhone 4G and the
SUPER AMOLED screen on theSamsung Galaxy to understand

this. 

Using the latest 3G (soon to be 4G) wireless network technology, we can even watch live videos
on our mobile phones and download media in an instant. If you thought computers were the
 kings of convenience, then mobile phones are the uncrowned princes that will soon take over
the world. Today, the major players in the market offering latest developments in technology are
Symbian from Nokia, RIM (the makers of Blackberry phones), Android from Google and the iOS
from Apple Computers. Understandably, these gadgets do not come cheap, and their ultimate
aim is to provide us with everything imaginable right in our pockets. Every year new technology
is introduced in this segment, and the new concept of 'Augmented Reality' is something that we
should be looking out for. 

Video Game Technology

Video games are something that appeal to people of all ages, and this is a fact that has been
exploited completely by developers, who regularly dish out the latest developments in
technology. The graphics that we see on our video games today have certainly come a long
way. The crispness and the details that we find are unbelievable, and this has led to the
massive demand for the best video game consoles in the market. Whether you are playing PC
games, or if you are playing on the Sony PlayStation 3, the Microsoft Xbox 360, the Nintendo
Wii, or handheld devices like the Sony PSP (to play PSP games) or the Nintendo DS, you will
find a range of games that will stupefy you with their enormity

Computer Technology
The latest developments in computers is something that does not cease to amaze us. Ever
since Microsoft arrived on the scene, we have seen the market flooded with Windows based
machines, even though Macs and Linux based machines are also widespread. It seems that
every month we see machines and computer hardware getting more and more powerful than
before. Whether we are using desktop computers, laptop computers, or netbooks in our homes
and offices, it always seems to get obsolete in no time. 

People involved in the creation of 3D animation and graphics have so many great tools to play
with today, and software developers are having a field day as well. The advent of
the Internet has opened up the world of computers to almost every family all around the world,
and this is an industry that will never get old now. New software languages are also constantly
arising to make the task of website design more intricate and simple than ever before. These
computers and the technology they offer is helping us out in numerous areas like health
sciences, medicine, education, business, defense, production, entertainment, space
exploration, nanotechnology and plenty of other research oriented fields wherecomputer
uses come in handy. To imagine a world without computers today is nigh impossible. 

Television Technology
Our television sets are not averse to the latest developments in technology as well, and they
have come a long way since the mundane black and white TV sets of old. Today we view our
content on HDTV (High Definition Television) sets. These offer us tremendous amounts of TV
resolutions, and they have taken TV viewing to whole new levels. You must read about the
new 1080p resolution to understand this, and this will also explain to you which is better, 1080i
or p.

The flat screen TVs that you can buy in the market today are also built to consume very low
levels of power, and this has made them very energy efficient. The pixel per frame density (ppf)
on some of the best HDTV 2010 sets are as high as 2 million, and this offers extremely clear
picture quality. For someone looking to buy some great television sets, plasma TVs, LED
TVs and LCD TVs offer some great choices to pick from. These TV sets are excellent for
playing video games as well, and the home theater systems that can be attached to them will
simply blow your mind away. There are plenty of TV reviews that you can come across from
time to time, and this will also help you make a decision aboutLED vs LCD vs Plasma vs DLP.

TECHNOLOGY, EDUCATION AND THE GLOBAL

MARKET
Much has been said and reported about the impact of technology, especially computers, in

education. Much research has been conducted throughout the world to evaluate the positive

effects of technology on learning, and to investigate the kind of enhanced learning

environment

that technology provides in the classroom. In short, considerable resources have been
invested to

justify the place of technology in education, and many research studies have revealed the
benefits

and gains that can be achieved by students, teachers and administrators.

Integration of ICT in education has been a contentious issue. At one extreme, there are some
who

are not convinced that ICT will bring the pedagogical benefits that have been so much touted

about (Cuban, 1986; McRobbie and Thomas, 1998; Oppenheimer, 1997; Peat and Franklin,
2003;
Postman, 1990, 1993, 1995; Stoll, 1995, cited in Vestich, 1997). At the other extreme,
advocates

like Edison (cited in Saettler, 1990, p 98), Negroponte (1995), the co-founder of the

Massachusetts Institute of Technology Media Lab, and Papert (1996) claim that technology
will

change the educational landscape forever and in ways that will engender a dramatic increase
in the

performance of learners. In between the two extremes, there are others who adopt a
balanced

approach. They are convinced that ICT, if properly integrated, has the potential to enhance
the

teaching and learning process (Apkan, 2002; Bork, 2003; Dwyer, Ringstaff, and Sandholtz,
1990;

Kian-Sam Hong, Abang Ahmad Ridzuan and Ming-Koon Kuek, 2003; Lee and Dziuban, 2002;

Thompson, 2003). If properly integrated, ICT-enabled education has the potential to promote
the

This paper was edited by Dr B.M. Matthews to conform to the style of the International
Education Journal. 468 Technology integration in education in developing countries

development of students' decision-making and problem solving skills, data processing skills,
and

communication capabilities (Whitworth and Berson, 2003).

Motivated by the prospect of greater economic, social, educational and technological gains,
both

developing and developed countries, are bringing about education reform, with a clear focus
on

ICT integration in education. Countries have been investing considerably in terms of money,
expertise, resources and research to integrate technology in education as smoothly as
possible so

that the classroom environment is made more conducive for enhanced teaching and learning.

Nations have recognised not only the positive effects of technology in education, but also the

pivotal roles that it plays in securing jobs in the competitive job market of the 21st century.

Prospective job applicants increasingly need to be computer-literate in order to qualify for

job

positions. Moreover, for countries to compete with each other in the global information-
based and

knowledge-based economy, they need a workforce that is skilled in the use of technology to
gain

the necessary competitive edge over one another. Hence, it is no longer a question of if
technology

should be integrated in the school setting, but a question of when and how to integrate
technology

so that it benefits all the parties concerned – students, teachers, administrators, parents and
the

community. Countries that fail to recognise and act according to the trends in new content
and

new methodologies in education and training may find it very hard to compete in the global

economy (Christensen, 1997; Delannoy, 2000).

Few statistics are available from developing countries. Much research in the area of
technology

integration in education has been conducted in technologically advanced countries, but little
in the

so-called developing or third world countries. On the one hand, this implies that the former

countries now possess a wealth of knowledge, skills, expertise, and the competitive edge that
most
of the latter countries do not possess. On the other hand, the latter countries can gain a lot by

learning and adapting the ‘ready-made’ skills and expertise of their advanced counterparts,
and

they can do so with relatively less money. This means that developing countries and poorer

nations do not require investing as much as their more developed counterparts have had to
do.

They can benefit immediately. Nevertheless, just like any development project, this
technology

integration in education will still require considerable investments and it has to be systematic
and

well planned.

This paper looks at how developing countries and poorer nations can adopt, adapt, and apply
the

knowledge gleaned by countries that have already embarked on the ICT integration
bandwagon in

their own educational systems. It is hoped that the insights put forward in this paper will
enable

such countries to make better plans on how to create their own pool of skilled and expert

educational technologists. The paper first establishes a ground for technology integration in

education; then, it highlights various ideas and insights on planning this integration process;
and

finally, it recommends what can be done in the context of developing and poorer nations,
bearing

in mind that many of them have very few or no computers in their schools and limited

infrastructural, technological, and financial resources.

For the purpose of this document, technologically advanced countries and developed
countries are

regarded as synonymous, and developing and poorer countries are collectively referred to as
developing countries unless explicitly stated otherwise. Also, policy makers refer to the
people

who are decision makers in education such as school principals, education superintendents,

regional education directors and, district-level or state-level educational administrators. Also,

unless stated otherwise, technology is used to include the computer system, Internet and
World

Wide Web, networks and communication devices, and software.

Global marketing
Global Markets! The buzz word of modern finance has generated intense interest during the
past few years. Yet it is a phrase often misconstrued to describe numerous separate, and
interrelated activities in the world economy.

Global markets have come to be seen as the epitome of the information age, where the instantaneous
transmission of data results in immediate transfer of capital, material, and other resources to
wherever the yields seem most advantageous.

The extent to which the world economy has progressed towards efficient global markets depends
upon how these markets are defined. Markets which have historically been tied to international trade
are most readily identified as being global. Trade in primary raw materials and manufactures has
been recorded throughout history, with goods produced in many regions and exchanged in markets
around the globe.
Global markets in this context comprise a number of local exchanges, operating in tandem, and
influencing market prices through the generally accepted interaction of supply and demand.

Commodity Market Trends

Market efficiency is often defined as equilibrium between supply and demand, where average prices
equal average costs of production. If the world market price for a given commodity reflects the
aggregate effects of all local exchanges, then local market prices are in equilibrium with world
market prices.

Trends in world commodity prices often reflect a somewhat different picture, as shown in the
attached diagrams:
These diagrams compare world market prices of coffee and maize to trade weighted market prices,
calculated in proportion to total world imports. The two price trends are also compared with the trade
weighted value of the US dollar, calculated according to the proportion of total world trade
transacted by the G10 nations plus Switzerland.

Trade weighted coffee prices are shown to diverge from market prices during periods of large
exchange rate movements, and to converge during relative exchange rate stability. The divergence in
maize prices has also shown correlation to currency volatility, although any subsequent convergence
is less clear. The examples shown here represent two limits for a spectrum of similar relations
exhibited by other dollar market commodities.

Financial market

In economics, a financial market is a mechanism that allows people to buy and sell (trade)
financialsecurities (such as stocks and bonds), commodities (such as precious metals or agricultural
goods), and other fungible items of value at low transaction costs and at prices that reflect the efficient-
market hypothesis.

Both general markets (where many commodities are traded) and specialized markets (where only one
commodity is traded) exist. Markets work by placing many interested buyers and sellers in one "place",
thus making it easier for them to find each other. An economy which relies primarily on interactions
between buyers and sellers to allocate resources is known as a market economy in contrast either to
a command economy or to a non-market economy such as a gift economy.

In finance, financial markets facilitate:

 The raising of capital (in the capital markets)

 The transfer of risk (in the derivatives markets)
 International trade (in the currency markets)

– and are used to match those who want capital to those who have it.

Typically a borrower issues a receipt to the lender promising to pay back the capital. These receipts
aresecurities which may be freely bought or sold. In return for lending money to the borrower, the lender
will expect some compensation in the form of interest or dividends.

In mathematical finance, the concept of a financial market is defined in terms of a continuous-time

Brownian motion stochastic process.

 Types of financial markets

The financial markets can be divided into different subtypes:

 Capital markets which consist of:

 Stock markets, which provide financing through the issuance of shares or common stock,
and enable the subsequent trading thereof.
 Bond markets, which provide financing through the issuance of bonds, and enable the
subsequent trading thereof.
 Commodity markets, which facilitate the trading of commodities.
 Money markets, which provide short term debt financing and investment.
 Derivatives markets, which provide instruments for the management of financial risk.
 Futures markets, which provide standardized forward contracts for trading products at some
future date; see also forward market.
 Insurance markets, which facilitate the redistribution of various risks.
 Foreign exchange markets, which facilitate the trading of foreign exchange.

The capital markets consist of primary markets and secondary markets. Newly formed (issued) securities

are bought or sold in primary markets. Secondary markets allow investors to sell securities that they hold
or buy existing securities.The transaction in primary market exist between investors and public while
secondary market its between investors

s
 Analysis of financial markets

Much effort has gone into the study of financial markets and how prices vary with time. Charles Dow, one
of the founders of Dow Jones & Company and The Wall Street Journal, enunciated a set of ideas on the
subject which are now called Dow Theory. This is the basis of the so-called technical analysis method of
attempting to predict future changes. One of the tenets of "technical analysis" is that market trends give
an indication of the future, at least in the short term. The claims of the technical analysts are disputed by
many academics, who claim that the evidence points rather to the random walk hypothesis, which states
that the next change is not correlated to the last change.

The scale of changes in price over some unit of time is called the volatility. It was discovered by Benoît
Mandelbrot that changes in prices do not follow a Gaussian distribution, but are rather modeled better
by Lévy stable distributions. The scale of change, or volatility, depends on the length of the time unit to
a power a bit more than 1/2. Large changes up or down are more likely than what one would calculate
using a Gaussian distribution with an estimated standard deviation.

A new area of concern is the proper analysis of international market effects. As connected as today's
global financial markets are, it is important to realize that there are both benefits and consequences to a
global financial network. As new opportunities appear due to integration, so do the possibilities of
contagion. This presents unique issues when attempting to analyze markets, as a problem can ripple
through the entire connected global network very quickly. For example, a bank failure in one country can
spread quickly to others, which makes proper analysis more difficult.