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Even if you don't think you do, you already know plenty about commodities. Want us to prove it? No problem.
What makes oil produced in Saudi Arabia different from oil exported from Nigeria? It's the same thing that makes the corn you ate at last summer¿s barbecue different from the corn used to produce ethanol. Stumped? Well, don't feel bad, it's a trick question. The answer? Absolutely nothing. Corn is corn no matter where it comes from -- just as wheat is wheat and natural gas is -- right! -- natural gas. (Though the quality may differ, the make-up is uniform.)
So, in less elaborate terms, corn and oil (and all other commodities) are homogenous goods that can be processed, resold and more often than not, used as an input to the production of other goods or services. These goods are traded on a commodity exchange, thus setting the price-per-barrel (or other metric unit) used to value them.
Now pay attention, here's a question that indeed does have an answer: What is the difference between a commodity and a stock? While a stock can tank and become worthless, a commodity cannot have its value be wiped to zero. One other difference: Most commodities are traded in futures, meaning traders buy and sell where they think the price of a product will be at a certain point in the future. Stocks trade based on the value of the underlying company at that point in time.
Home / Personal Finance / Financial Planning / College & Education
Tuesday, November 13, 2007
Kid Money
Are Math Teachers Going the Way of the Dinosaur?
Kathryn Elizabeth Tuggle
FOXBusiness
NEW YORK--“Stay in school,” used to be advice for students, but with statistics showing a national shortage of math teachers, experts
say the advice applies to educators, too.
Studies show that 50% of the teaching force leaves after five years in the
field -- and the percentage is higher for math teachers.
“Because a degree in math can take people places with higher
salaries -- like accounting, or financial services -- it’s hard to convince them to stay in education,” said Skip Fennell,
president of the National Council of Teachers of Mathematics. “There is a serious shortage of mathematics teachers nationwide.”
Fennell
said that since math is a challenging subject, college students proficient in number studies often shy away from the subject
in favor of a related one, such as business or economics.
“Math majors work hard,” Fennell said. “The shortage of
teachers we have now can be traced directly to our need for more math and science majors in college.”
Math for America,
the New York-based nonprofit, is trying to solve the reported shortage of math teachers by offering master’s fellowships in
education to individuals who teach math in needy schools. Although the need for math teachers varies from state to state,
middle schools (grades 6 through 9) are the hardest hit nationwide. They are also the most in need, according to Fennell.
“It’s frightening that the mid-level grades are the most neglected, because they provide the critical foundations
necessary for higher level mathematics," Fennell said.
He said it’s imperative that math become more popular across
the country.
“As a nation, we need to be in control of our destiny relative to the math and science skills we teach.
We don’t need to outsource. We need more engineers, more doctors, and we need to grow a culture that values math as a subject,”
he said.
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