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Description
For as long as humans have been working, they have been looking for ways to get that work done better, faster, and more efficient. Over the course of human history, mankind has created innumerable spectacular inventions, all with the goal of making the economy and daily life more efficient. Today, innovations and technological advancements are happening at a pace like never seen before, and technology like automation and artificial intelligence are poised to once again fundamentally alter the way people live and work in society. Whether society is prepared or not, robots are coming to replace human labor, and they are coming fast. In many areas artificial intelligence has disrupted entire industries of the economy. As people continue to make advancements in artificial intelligence, more industries will be disturbed, more jobs will be lost, and entirely new industries and professions will be created in their wake. The future of the economy and society will be determined by how humans adapt to the rapid innovations that are taking place every single day. In this paper I will examine the extent to which automation will take the place of human labor in the future, project the potential effect of automation to future unemployment, and what individuals and society will need to do to adapt to keep pace with rapidly advancing technology. I will also look at the history of automation in the economy. For centuries humans have been advancing technology to make their everyday work more productive and efficient, and for centuries this has forced humans to adapt to the modern technology through things like training and education. The thesis will additionally examine the ways in which the U.S. education system will have to adapt to meet the demands of the advancing economy, and how job retraining programs must be modernized to prepare workers for the changing economy.
ContributorsCunningham, Reed P. (Author) / DeSerpa, Allan (Thesis director) / Haglin, Brett (Committee member) / School of International Letters and Cultures (Contributor) / Department of Finance (Contributor) / Barrett, The Honors College (Contributor)
Created2018-05
Description
This thesis takes the form of a market research report with the goal of analyzing the implications of the United Kingdom (UK) leaving the European Union (EU) (known as “Brexit”) on London’s office commercial real estate market. The ultimate goal of this report is to make a prediction, firmly grounded in quantitative and qualitative research conducted over the past several months, as to the direction of London’s commercial real estate market going forward (post-Brexit). Within the commercial real estate sector, this paper narrows its focus to the office segment of the London market.
Understanding the political landscape is crucial to formulating a reasonable prediction as to the future of the London market. Aside from research reports and articles, our main insights into the political direction of Brexit come from our recordings from meetings in March of 2017 with two high-ranking members of Parliament and one member of the House of Lords—all of whom are members of the Tory Party (the meetings being held under the condition of anonymity). The below analysis will be followed by a discussion of the economics of Brexit, primarily focusing on the economic risks and uncertainties which have emerged after the vote, and which currently exist today. Such risks include the UK losing its financial passporting rights, weakening GDP and currency value, the potential for a reduction in foreign direct investment (FDI), and the potential loss of the service sector in the city of London due to not being able to access the European Single Market.
The report will shift focus to analyzing three competing viewpoints of the direction of the London market based on recordings from interviews of stakeholders in the London real estate market. One being an executive of one of the largest REITs in the UK, another being the Global Head of Real Estate at a top asset management firm, and another being a director at a large property consulting firm. The report includes these differing “sub-theses” in order to try to make sense of the vast market uncertainties post-Brexit as well as to contrast their viewpoints with where the market is currently and with the report’s investment recommendation.
The remainder of the report will consist of the methods used for analyzing market trends including how the data was modeled in order to make the investment recommendation. The report will analyze real estate and market metrics pre-Brexit, immediately after the vote, post-Brexit, and will conclude with future projections encapsulating the investment recommendation.
Understanding the political landscape is crucial to formulating a reasonable prediction as to the future of the London market. Aside from research reports and articles, our main insights into the political direction of Brexit come from our recordings from meetings in March of 2017 with two high-ranking members of Parliament and one member of the House of Lords—all of whom are members of the Tory Party (the meetings being held under the condition of anonymity). The below analysis will be followed by a discussion of the economics of Brexit, primarily focusing on the economic risks and uncertainties which have emerged after the vote, and which currently exist today. Such risks include the UK losing its financial passporting rights, weakening GDP and currency value, the potential for a reduction in foreign direct investment (FDI), and the potential loss of the service sector in the city of London due to not being able to access the European Single Market.
The report will shift focus to analyzing three competing viewpoints of the direction of the London market based on recordings from interviews of stakeholders in the London real estate market. One being an executive of one of the largest REITs in the UK, another being the Global Head of Real Estate at a top asset management firm, and another being a director at a large property consulting firm. The report includes these differing “sub-theses” in order to try to make sense of the vast market uncertainties post-Brexit as well as to contrast their viewpoints with where the market is currently and with the report’s investment recommendation.
The remainder of the report will consist of the methods used for analyzing market trends including how the data was modeled in order to make the investment recommendation. The report will analyze real estate and market metrics pre-Brexit, immediately after the vote, post-Brexit, and will conclude with future projections encapsulating the investment recommendation.
ContributorsHorn, Jonathan (Co-author) / Sidi, Adam (Co-author) / Bonadurer, Werner (Thesis director) / McDaniel, Cara (Committee member) / Department of Finance (Contributor) / School of Politics and Global Studies (Contributor) / Economics Program in CLAS (Contributor) / Barrett, The Honors College (Contributor)
Created2017-12
Description
For this thesis, the authors would like to create a hypothetical Private Equity Real Estate Investment firm that focuses on creating value for partners by taking an opportunistic approach to acquiring under-performing urban multi-family properties with large upside potential for investing. The project will focus on both the market analysis and financial modeling associated with investment strategy and transactions. There is a substantial amount of complexity within commercial real estate and this thesis seeks to offer an accurate and comprehensive documentary of the process, while simplifying it for everyday readers. Additionally, there are a significant amount of risk factors associated with investment decisions, so the best practices from the industry documented in this manuscript are valuable tools for successful investing in the future. To gain the most profound and reliable industry knowledge, the authors leveraged the experience of dozens of industry professionals through research and personal interviews. Through careful analysis, the authors were able to ascertain the current economic position in the real estate cycle and to create a plan for future investing. Additionally, they were able to identify and evaluate a specific asset for purchase. As a result, the authors found that multifamily properties are a sound investment for the next two years and that the company should slowly start to shift directions to office and retail in 2018.
ContributorsBacon, David (Co-author) / Soto, Justin (Co-author) / Kashiwagi, Dean (Thesis director) / Kashiwagi, Jacob (Committee member) / Department of Finance (Contributor) / Department of Supply Chain Management (Contributor) / Department of Marketing (Contributor) / W. P. Carey School of Business (Contributor) / School of Accountancy (Contributor) / Barrett, The Honors College (Contributor)
Created2016-05
Description
Interaction is key to education, as students who perform their own inquiry into a subject retain information longer. The field of interactive fiction, which emphasizes personal decision making and freedom of choice, is ripe for opportunity as it is relatively simple to develop and deploy to audiences of any size. However, few interactive fiction platforms exist with the openness and flexibility required for classroom use. My project attempted to create an interactive fiction platform that can be created for and engaged with by both teachers and students. This led to the creation of an interactive fiction platform that conforms to a variety of requirements, such as openness and compatibility across multiple platforms, and which can display meaningful content. This was accomplished by someone with a content area education background and only limited computer science experience, and shows promise for similar future endeavors.
ContributorsWilley, Kyle Allen (Author) / Bruhn, Karen (Thesis director) / Foy, Joseph (Committee member) / Viles, Rebecca (Committee member) / Barrett, The Honors College (Contributor) / Division of Teacher Preparation (Contributor) / School of Historical, Philosophical and Religious Studies (Contributor)
Created2014-12
Description
This research looks at a group of students from Tumaini Children's Home in Nyeri, Kenya. The purpose of this paper is to explore why this particular group of students is so academically successful. Quantitative research was taken from the average 2013 test scores of Tumaini students who took the Kenyan Certificate of Primary Education (KCPE) exam in comparison to the scores of students who are not residing in the orphanage. Qualitative research involves interviews from those students who live in Tumaini and interviews from adults who are closely connected to the orphanage. The purpose is to understand why the students are performing so well academically and what support they have created for themselves that allows them to do so.
ContributorsTooker, Amy Elizabeth (Author) / Puckett, Kathleen (Thesis director) / Cocchiarella, Martha (Committee member) / Barrett, The Honors College (Contributor) / Division of Teacher Preparation (Contributor)
Created2014-12
Description
Nations have a vital interest in creating a citizenry with certain attributes and beliefs and, since education contributes to the formation of children's national identity, government authorities can influence educational curricula to construct their ideal citizen. In this thesis, I study the educational systems of Pakistan and Arizona and explore the historical and conceptual origins of these entities' manipulation of curricula to construct a particular kind of citizen. I argue that an examination of the ethnic studies debate in Tucson, Arizona, in conjunction with Pakistan's history education policy, will illustrate that the educational systems in both these sites are developed to advance the interests of governing authorities. Resource material demonstrates that both educational systems endorse specific accounts of history, omitting information, perspectives, and beliefs. Eliminating or reimagining certain narratives of history alienates some students from identifying as citizens of the state, particularly when contributions of their ethnic, cultural, or religious groups are not included in the country's textbooks.
ContributorsFritcke, Emily Anne (Author) / Saikia, Yasmin (Thesis director) / Haines, Chad (Committee member) / Barrett, The Honors College (Contributor) / Department of English (Contributor) / School of Historical, Philosophical and Religious Studies (Contributor)
Created2014-12
Description
"Improving Life Outcomes for Children in Arizona: Educational Social Impact Bond" is a creative project that is structured as a pitch to the Arizona Department of Education to consider social impact bonds as a way to fund pilot education programs. The pitch begins with a brief overview of the umbrella of impact investing, and then a focus on social impact bonds, an area of impact investing. A profile of Arizona's current educational rankings along with statistics are then presented, highlighting the need for an educational social impact bond to help increase achievement. The pitch then starts to focus particularly on high school drop outs and how by funding early childhood education the chances of a child graduating high school increase. An overview of existing early education social impact bonds that are enacted are then presented, followed by a possible structure for an early education social impact bond in Arizona. An analysis of the possible lifetime cost savings of investing in early childhood education are then presented, that are as a result of decreasing the amount of high school drop outs. Lastly, is a brief side-by-side comparison of the Arizona structure to the precedent social impact bonds.
ContributorsRodriguez, Karina (Author) / Simonson, Mark (Thesis director) / Trujillo, Gary (Committee member) / Department of Finance (Contributor) / School of Accountancy (Contributor) / Barrett, The Honors College (Contributor)
Created2016-05
Description
Investment real estate is unique among similar financial instruments by nature of each property's internal complexities and interaction with the external economy. Where a majority of tradable assets are static goods within a dynamic market, real estate investments are dynamic goods within a dynamic market. Furthermore, investment real estate, particularly commercial properties, not only interacts with the surrounding economy, it reflects it. Alive with tenancy, each and every commercial investment property provides a microeconomic view of businesses that make up the local economy. Management of commercial investment real estate captures this economic snapshot in a unique abundance of untapped statistical data. While analysis of such data is undeniably valuable, the efforts involved with this process are time consuming. Given this unutilized potential our team has develop proprietary software to analyze this data and communicate the results automatically though and easy to use interface. We have worked with a local real estate property management and ownership firm, Reliance Management, to develop this system through the use of their current, historical, and future data. Our team has also built a relationship with the executives of Reliance Management to review functionality and pertinence of the system we have dubbed, Reliance Dashboard.
ContributorsBurton, Daryl (Co-author) / Workman, Jack (Co-author) / LePine, Marcie (Thesis director) / Atkinson, Robert (Committee member) / Barrett, The Honors College (Contributor) / Department of Finance (Contributor) / Department of Management (Contributor) / Computer Science and Engineering Program (Contributor)
Created2015-05
Description
A thorough understanding of the key concepts of logic is critical for student success. Logic is often not explicitly taught as its own subject in modern curriculums, which results in misconceptions among students as to what comprises logical reasoning. In addition, current standardized testing schemes often promote teaching styles which emphasize students' abilities to memorize set problem-solving methods over their capacities to reason abstractly and creatively. These phenomena, in tandem with halting progress in United States education compared to other developed nations, suggest that implementing logic courses into public schools and universities can better prepare students for professional careers and beyond. In particular, logic is essential for mathematics students as they transition from calculation-based courses to theoretical, proof-based classes. Many students find this adjustment difficult, and existing university-level courses which emphasize the technical aspects of symbolic logic do not fully bridge the gap between these two different approaches to mathematics. As a step towards resolving this problem, this project proposes a logic course which integrates historical, technical, and interdisciplinary investigations to present logic as a robust and meaningful subject warranting independent study. This course is designed with mathematics students in mind, with particular stresses on different formulations of deductively valid proof schemes. Additionally, this class can either be taught before existing logic classes in an effort to gradually expose students to logic over an extended period of time, or it can replace current logic courses as a more holistic introduction to the subject. The first section of the course investigates historical developments in studies of argumentation and logic throughout different civilizations; specifically, the works of ancient China, ancient India, ancient Greece, medieval Europe, and modernity are investigated. Along the way, several important themes are highlighted within appropriate historical contexts; these are often presented in an ad hoc way in courses emphasizing technical features of symbolic logic. After the motivations for modern symbolic logic are established, the key technical features of symbolic logic are presented, including: logical connectives, truth tables, logical equivalence, derivations, predicates, and quantifiers. Potential obstacles in students' understandings of these ideas are anticipated, and resolution methods are proposed. Finally, examples of how ideas of symbolic logic are manifested in many modern disciplines are presented. In particular, key concepts in game theory, computer science, biology, grammar, and mathematics are reformulated in the context of symbolic logic. By combining the three perspectives of historical context, technical aspects, and practical applications of symbolic logic, this course will ideally make logic a more meaningful and accessible subject for students.
ContributorsRyba, Austin (Author) / Vaz, Paul (Thesis director) / Jones, Donald (Committee member) / School of Mathematical and Statistical Sciences (Contributor) / School of Historical, Philosophical and Religious Studies (Contributor) / Barrett, The Honors College (Contributor)
Created2018-05
Description
In 2014, IASB and FASB published a new revenue recognition standard that will upend the way revenue is recognized on financial statements filed with the SEC. The new standard, ASC 606 \u2014 Revenue from Contracts with Customers, is effective as of December 16, 2017 for all public US GAAP entities and effective for all IFRS entities as of January 1, 2018. All non-public US GAAP entities are required to implement the reporting standards for financial periods following December 16, 2018. The purpose of this new guidance is to shift from industry and transaction specific revenue recognition methods to a framework that enables financial statement users to understand how and when revenue is recognized. As an incoming associate within the audit industry, I decided to analyze the key differences between the new revenue recognition standard with the existing GAAP and IFRS standards. The following research explores the impact on various industries, particularly the real estate industry. ASC 606's impact will vary depending on the industry. In terms of real estate, the industry will experience a moderate impact. The new guidance will likely enable the earlier recognition of revenue in most instances, based on the five-step revenue recognition process laid out by the IASB and FASB. This publication also analyzes the 10-K's of three companies in the real estate industry; Kennedy Wilson Holdings Inc., CBRE Group Inc., and Digital Realty Trust, Inc. Through excerpts from the 10-K's of these companies, readers will gain insights into how real estate companies are preparing for the implementation of ASC 606. With this new revenue recognition standard, financial statement users will be able to better grasp the nature, timing, amount, and uncertainty of revenue recognition, thereby increasing transparency within the public accounting profession.
ContributorsThomas, Kade Anthony (Author) / Shields, David (Thesis director) / Geiger, Karen (Committee member) / School of Accountancy (Contributor) / Department of Finance (Contributor) / Barrett, The Honors College (Contributor)
Created2018-05