October 4, 1979
The Pendulum
Page 3
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r
Dollar drops as
Gold vaults 105%
Some people woald rather play thu stndy. For those that do stndy or have to stndy it can
be a problem. Steve Uttle and Jennifer Leeds mix the two. Photo by Craig Stanfleld.
Help is on the way for studymg
by Mildred Lynch
“If you’re feeling down in
the dumps about that last
test grade, here is some good
news. You still have time to
do something about it before
the end of the semester.
Help is on the way,” says
Lela Faye Rich of academic
counseling.
Thursday, Oct. 11, has
been proclaimed ‘‘How To
Study Day” and professor
of psychology David Wark
of the University of Minne
sota will be on campus to
conduct a workshop from
3:30-5 p.m. at McEwen
Dining Hall, 2nd floor. The
9:30-10 a.m. assembly pro
gram will give students an
opportunity to meet Mr.
Wark and hear a brief
presentation to help them
decide whether they would
like to attend the afternoon
session.
Professor Wark is co
author of a book. Systems
For Study, which is available
in the Campus Shop. This
book is well organiz^, sim
ply written and amusingly
illustrated.
The following tips for
study are quoted or para
phrased from Wark’s book;
1. Sit as close to the front
of the classroom as possible.
There will , be fewer distrac
tions between you and the
professor. You wiU be less
likely to daydream or to
read or write personal let
ters, etc. (Gee, that’s why I
like to sit in the back. I
don’t want the professor
watching everything I do,”
you say. But aren’t your
grades suffering because of
it?)
2.When you get bored
in class, and everyone does
at some point, flip to your
notes from the last class
session. The professor may
be bored too and is simply
killing time talking about
something that isn’t really
relevant to the subject. You
can’t just get up and walk
out, so use the time con
structively. It will help to
reduce the study time needed
just before the next test.
3.Copy everything that the
professor writes on the
board. Even if it doesn’t
seem to fit in your notes or
relate to what the professor
is saying, you may find later
that it was a clue to a test
question. (If not, what have
you lost? A little lead from
your pencil or ink from your
pen?)
4. Listen for clues to note
worthy information. If the
professor begins with some
type of itemization such as
“In the first case...,” or
“There are two reasons...”
you know that more points
will follow. If the professor
pauses after a statement and
looks at the class or at an
individual, write down what
he has just said. If he
pauses and begins searching
his notes, he has probably
just lost his place.
5. Look for clues to note
worthy information. If the
professor leaves the lecturn,
moves closer to the class and
stares intently at a student,
he is probably saying some
thing important and wants to
be sure you hear and note it.
6. Try to avoid judging
the professor in class. If
you do not like or agree
with what he is saying, you
may inadvertently leave it
out of your notes and forget
it. Instead, try to quote the
professor as accurately as
possible in your notes. (You
may learn later than he was
right after all. A tactful,
private discussion with the
professor after class may
lead to new insights for both
of you.)
7. Be a good listener.
It is difficult for the pro
fessor to be alert and exci
ting if he is facing a room
full of day dreamers and
dozers. You will get more
through your ears if you
have your eyes on the sub
ject.
8. Take notes in your
own words. Re-state the
professor’s message in words
that you will easily under
stand when you review. Be
sure that you copy exactly
any technical terms that
must be used accurately on
tests or projects later.
Read the Pendulum next
week for tips on study
outside the classroom.
Phi Mu Bonfire
by Brenda Vinson
Phi Mu Sorority extended
its hand to a group of
children from the Elon Col
lege Children’s Home on
Tuesday Oct. 2. Phi Mu
invited 15 to 20 children
between the ages of seven
and 10 to the Phi Mu house
for a bonfire and a roasting
of marshmellows.
by Prof. Ralph Anderson
Gold prices hit the head
lines this week. Prices for
the glamorous metal reached
about $440 an ounce on
world markets. The increase
was about $55 an ounce in a
three-day period. Less than
a decade ago, the total
official price of gold was
$35 an ounce. Other com
modities have shown as
spectacular changes as gold
in the past, and in some
cases, even greater changes.
We may gain perspective
by noting other price
changes. Gold prices rose
by 105 percent in a year
(from $210 to $440). Silver
prices have nearly tripled (to
$16 per ounce during the
same period. Crude oil,
gasoline, and especially fuel
oil prices have increased by
about 80 percent in the past
year.
Commodity markets are
often at the mercy of irra
tional speculators. A few
years ago, speculators sent
the price of sugar to 66 cents
a pound, an eightfold in
crease in the space of a few
months. Speculators qua
drupled the price of coffee
within the space of a few
months. Speculators are
active in the gold and silver
markets as well. However,
gold price changes often are
the symptoms of under
lying economic conditions,
in a way that other commo
dity price fluctuations are
not.
Last week’s rapid rise in
gold prices reflects funda
mental economic weaknesses
in the American economy.
Americans are over-taxed,
over-regulated, over-regi
mented, and over-harrassed
to the time of at least $150
billion per year.
General Motors spends $2
billion per year complying
with govenmient regulations.
Labor productivity in the
U.S. since 1972 has moved
“horizontally” for the most
part, and for the last year
and a half has declined.
Saving and investment in the
U.S. as a percentage of total
output (production) is cur
rently less tha one-third as
much as Japan and Ger
many. Chronic balance of
payments deficits have
plagued the U.S. for over
two decades. Monetary
policy in the U.S. borders
on disaster. Banking autho
rities cannot even keep mo
ney supply growth within
their own guidelines. Wage
settlements in excess of go
vernment guidelines and pro
ductivity increases add to
domestic economic weak
ness. Inflation rages on a 13
percent annual rate or more.
These (and other) factors
contribute to a weak eco
nomy and a weak dollar.
Understandably, investors,
both U.S. nationals and
foreigners, are motivated to
“dump” dollars and buy
gold, which for the moment
app>ears to possess more
stability than “queasy” U.S.
dollars. Buying gold and
selling dollars pushes the
price of gold higher and the
price (value) of dollars lo
wer.
The gold “problem”
would largely disappear if
economic policy were
changed to shore up the
American economy. Speci
fic changes essential to a
healthy, dynamic economy
include a decrease of govern
ment taxes and spending of
at least $150 billion per
year; government incentives
to increase saving and in
vestment; responsible mone
tary policies that limit mo
ney supply increases to pro
ductivity increases; along
with rational energy and
inflation policies. Germany
and Japan have demon
strated reasonable success in
achieving relatively healthy
and dynamic economies.
The United States with ob
vious resource advantages
ought to be able to do at
least as well. Unfortunately,
the prospect of necessary
economic policies to solve
the fundamental economic
problems in this county is
not too promising, and con
sequently, gold prices are
likely to continue an erratic
upward trend.
Town government — p- ^
alderman. An ll'/i-year
resident, she owns Priestley
Fine Art Gallery and works
in educational and art activi
ties in the county and state.
Barry Simmons, director
of flnancial aid at the col
lege, flled for alderman on
Monday. Simmons has
worked extensively on town
ordinances and with the
firemen in the past.
Assistant dean of students
David Joyce has also filed
for alderman, it was learned
Tuesday. Joyce joined the
Elon College staff last year
and has recently bought the
“colonial house” on Holt
Ave. as his residence.
Going off the board this
year are Sherley White, D.
D. Atkinson, and Dwight
Wall. On the board for two
more years of four-year
terms as alderman are Nell
Snyder and Robert Olsen.
Parker, candidate for
mayor, is a graduate of
UNC Chapel Hill School of
Law and a partner of John
Patterson, Burlington. He is
also an honors graduate of
Elon College, an active
member of the Burlington
Jaycees, and a participant in
community activities.