The Bull & Bear March 2013 Issue

March 2013 Issue 007 Vol. 10

A publication of the

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THE BULL & BEAR

What’s Behind the New Tuition Hike?

The New Face of IRC Does Music Help or Hurt Your Studying?

An Anglophone in Marois’ Quebec In Defense of Online Courses

Come Together Why we need to unite against the PQ

bullandbearmcgill.com

Editor’s Note Dan Novick

EXECUTIVE EDITOR

NEWS

4 What’s Behind the New Tuition Hike?

6 Online Classrooms: The Future of Education?

8 The New Face of IRC 9 AUS Successfully Averts Financial Crisis

MARKETS

10 Bubble and Trouble?

12 China: They Built It, But Will They Come?

13 CleanStar Mozambique: An Environmentally Sustainable Business Model 14 Strategy. Management. Discipline

EDITORIAL

16 Come Together

LIFESTYLE 18 Does Music Help or Hurt Studying?

19 Ready, Set, Surprise!

20 Does Business Really Equal Busyness?

22 The Gap Year Guide 24 The Dos and Don’ts of Subletting

OPINION 26 In Defense of Online Courses 28 An Anglophone in Marois’ Quebec 29 The Canadian Senate: Relaxation Without Representation 31 Hot or Not

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s a student in my final couple months before graduation, I breathe uncertainty. Part of it is refreshing; I live more in the moment now than I ever have in my entire life. But uncertainty has its dark side, one that from time to time rears its ugly head as I toss and turn into the night, unsure of what the future holds for me but ready to face it head on with my head held high.

I’m not alone in my feelings of uncertainty. Uncertainty looms large on the minds of Quebec’s students, professors, and administrators. Having recently been betrayed by the PQ, many students are fearful of what lies ahead for Quebec’s universities. The PQ, elected in part thanks to the student movement it supported, is cutting $250 million in university funding between December 2012 and April 2014. These cuts not only threaten our way of life as students and McGill University as a whole, but threaten to destroy the very foundation of our society: our education system. In our first ever editorial as a magazine, entitled “Come Together,” we delve into why we must unite against the PQ to fight these cuts.

As the spring protests return, I am reminded of a time not so long ago when our city descended into chaos. We at The Bull & Bear look forward to keeping you up-to-date on the events that unfold.

Stay tuned to our Facebook (The Bull & Bear) and Twitter (@ MUSBullandBear) as we provide live updates.

On behalf of our entire 83-person staff, we hope that you enjoy this issue as much as we enjoyed producing it. With summer just around the corner, live in the moment and be strong McGill. We can do this.

Dan Novick, Executive Editor dan@bullandbearmcgill.com

BRIEFS

Briefs

Your guide to events around campus MESS’s Spring Fling

McGill Trading Simulation

March 14, 7pm-12am Thomson House Lovers of the environment come together at this semi-formal event celebrating the sun setting later and the nights getting longer!

March 23 SSMU Ballroom The McGill Trading Simulation is one of the largest trading simulations in North America, bringing together over 250 students from the top universities.

Gerts Presents: St. Patrick’s Day

AUS/SUS Present: Red and White Graduation Ball

March 15-16 Gerts Bar May the luck of the Irish be with you! Enjoy the green beer, Irish car bombs, and all the debauchery that comes annually on St. Patties. Have fun, kids!

March 23 6:30pm Le Windsor Enjoy a night with fellow to-be grads by drinking, eating, and dancing the night away!

SSMU Executive Elections March 15-22 https://ssmu.simplyvoting.com/ Have a say in your student government and vote for your choices in the SSMU Executive Elections for 2013-2014.

McGill Management International Case Competition (MMICC) March 17-23 Montreal MMICC is a undergraduate competition with a focus on multi-disciplinary thinking that has welcomed schools from over 20 countries.

MEDTalks March 19, 6:30pm Leacock 232 MEDTalks will present current issues, reveal challenges, and explore solutions faced by organizations pursuing developmental work worldwide.

P[h]assion Presents: MasquerAids March 22, 7:30pm Telus Theatre, La Mouche With a passion for humanity and a love of fashion, P[h]assion presents its annual fundraiser for Maison Plein Coeur, a charity that promotes health for people living with HIV/AIDS. The Bull & Bear - March 2013

Dan Novick Executive Editor

Tarun Koshy Opinion Editor

Jessica Simmonds Managing Editor

Anthony Heinrich Matthew Hunter Brian Lau Michelle Paspe Michael Tong Layout Editors

Alessandra Hechanova Chief Layout Editor Jean Moirez Media Editor Aimee Pellegrino Lead News Editor Doron Lurie News Editor Sameer Rizvi Lead Markets Editor

Kapil Mehra Advertising Director Sami Jaber Henry Fuz-Keeve Web Editors Charlotte Plamondon Social Media Representative

Max Feinsot Markets Editor April Wu Lead Lifestyle Editor Marisa Samek Lifestyle Editor Zain Alimohamed Lead Opinion Editor

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NEWS

What’s Behind the New Tuition Hike?

PQ Advisor: “If you increase tuition at three percent a year, no one will notice” Doron Lurie

NEWS EDITOR

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lmost simultaneously with Pauline Marois declaring the Summit on Higher Education a success, protesters were congregating in Victoria Square by the thousands. The rally was instantly declared illegal as the SPVM was not informed of the protest route, setting the stage for an afternoon replete with riot police, thirteen arrests, tear gas, and countless snowballs thrown. At issue was the announcement that tuition fees in the province would not be held constant but would rather be set to increase by a small amount each year for a nonspecified period, at an average of 3 percent.

This projection is based on the work of Pierre Fortin, a celebrated Quebec economist who has long acted as an occasional advisor to the provincial and federal governments. Dr. Fortin, a professor emeritus in Economics at UQAM and former president of the Canadian Economics Association, proposed indexation as the best way to generate additional income, since outright hikes were off the table and freezing tuition had been declared financially unfeasible.

Fortin presented a working paper entitled “Accessibilité et indexation: les enjeux” (Accessibility and indexation: the stakes) at the pre-summit. In it he identified the three most plausible of many

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PHOTO BY JD MOIREZ AND SAM GREGORY

indexation scenarios, with average increases projected for each. Tuition could be pegged to either inflation at roughly 2 percent, disposable income at 3 percent, or university operating costs at 3.5 percent.

While the PQ eventually settled on indexing to disposable income, Fortin had actually advocated for indexing tuition to operating costs, which increase at

if you have a freeze followed by a 30 percent increase in 10 years, it leads to social instability. Really, a freeze could lead to another crisis.”

This signifies the breaking of their campaign promise to freeze tuition altogether, but the dollar value is still comparatively small: Tuition is projected by most to increase by $70-75 each year, totalling $420 by 2018, as opposed to the previ-

Tuition is projected by most to increase by $70-75 each year, totalling $420 by 2018, as opposed to the previously proposed increase of $1625 within the same period that the PQ cancelled on its first day in office in September 2012. a faster rate, as in his view it would keep tuition in line with the actual cost of education.

The significant decrease in the size of the cuts is a measure to prevent the same kind of shock that triggered widespread demonstrations last year. “If you increase tuition at 3 percent a year, no one will notice,” said Fortin at the pre-summit. “But

ously proposed increase of $1625 within the same period that the PQ cancelled on its first day in office in September 2012.

The PQ is selling the indexation as a different sort of freeze, with costs growing relative to students’ ability to pay.

These figures are based on Fortin’s econometric projections of the average yearly increase in Quebec household dis-

NEWS posable income. Many media outlets are incorrectly reporting that the increase will be a flat three percent each year, but bumps to tuition will actually fluctuate based on economic conditions. “Do not be surprised if the indexation is 2.1 percent one year and 3.2 percent the next,” Marois explained at the summit. The actual value of these increases remains to be seen.

The PQ decided to take action without reaching a consensus, a move that disappointed the student groups in attendance. “We can continue to reflect but cannot put this decision off forever; this summit must reach a conclusion,” Marois said. “Do we want to spend another six months, a year, spinning in circles? A consensus would be nice but waiting is not the solution.” The Premier was unapologetic: “The responsibility of the government is to decide, and I decided,” she said after the summit.

The more militant student group

PHOTO BY JD MOIREZ AND SAM GREGORY

seems to have gained a life of its own: another demonstration on March 6th saw

While tuition will be increasing, that also came with the promise to reconsider many of the mandatory fees charged by schools and to expand projects providing student aid.

ASSÉ elected to boycott the summit due to the fact that the PQ had refused to consider totally free tuition as an option.

Instead, the group organized the largest protest the city has seen since summer 2012. “Students will be there to remind the government that they didn’t take part in six months of strikes to get an increase in tuition,” said ASSÉ spokesman Jérémie Bédard-Wien during the mass protest on February 26th.

Other student groups had a more mixed outlook. “We are disappointed to see that the government went ahead despite the absence of a consensus, but students aren’t leaving empty-handed,” commented FEUQ President Martine Desjardins. While tuition will be increasing, that also came with the promise to reconsider many of the mandatory fees charged by schools and to expand projects providing student aid.

In spite of less solid support from organized groups, the student movement The Bull & Bear - March 2013

62 people arrested, including one man wielding two Molotov cocktails. ASSÉ is

not claiming involvement with this particular round of protests, but did promote it on its Facebook page. “The students have taken it upon themselves to continue the movement,” said Bédard-Wien.

So was the Summit on Higher Education a success? Time will reveal the impact of these moves on Marois’ support from the mobilized student electorate for whom she donned a red felt square. “We have succeeded in putting the confrontations behind us,” proclaimed Marois in the summit’s closing ceremonies. “The social crisis is behind us.” The truth of this remains to be seen.

PHOTO BY JD MOIREZ AND SAM GREGORY

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NEWS

Online Classrooms: The Future of Education?

McGill plans to be at the forefront of the transformation Tess Wrobleski NEWS WRITER

ILLUSTRATION BY MOHAMMAD KHAN

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cGill announced their decision to join the edX consortium on February 20th. The edX consortiums are a series of online classroom experiences founded by Harvard and MIT. The association offers massive open online courses (MOOCs), which provides students with free enrollment in an array

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of classes at major universities worldwide.

McGill Provost Anthony Masi and Anant Agarwal, President of edX, offered insights into the process of joining the edX as well as the potential benefits of edX research. McGill, along with four other universities outside the United States, were chosen to join edX as part of

an initiative to globalize the consortium.

According to Agarwal, McGill was selected for its “diversity, quality, and alignment with (the edX) mission,” as well as its “distinct expertise.”

Masi stated that McGill considered other online learning communities, including Coursea and Udacity, but edX

NEWS

PHOTO VIA EDX

was chosen over the others for its alignment with McGill’s principles, specifically its emphasis on research.

The edX consortium presents its research findings through an open-source platform, which allows other educators free access to said research. The opensource platform facilitates candid discussion among educators, and offers opportunities for people outside edX to learn from and contribute to the established platform.

McGill will offer courses in science, humanities, and public policy. Currently, enrollees will not be able to receive academic credit for edX’s offerings.

McGill’s adventure into the edX consortium will also be funded entirely from an outside operating budget. Hence, the creation of online courses will not take away from the funds specified towards on-campus learning.

So, what does McGill gain from this new membership in the consortium? As a member of edX, McGill will be at the forefront of innovations pertaining to

On campus today, we already see some of these changes occurring. Many students opt to watch their lectures online instead of sitting in cramped lecture halls. edX proposes taking this one step further by having all its students watch lectures online and then later discuss the lecture materials in class. This would seemingly reverse the current learning process. Presently, students attend lectures, but expect that in order to under-

“Up to now, quality education – and in some cases, any higher education at all – has been the privilege of few.

For some, economics has been a factor, for others, social status, gender, or geography. For edX, it is about quality and access to education.” stand or fully dissect the material, it is their duty to take the initiative and do so on their own time. Blended classrooms, through online learning communities, dissolve this tradition by looking into what will best facilitate learning for students. This means fostering a classroom environment focused on students rather

McGill’s adventure into the edX consortium will also be funded entirely from an outside operating budget.

Hence, the creation of online courses will not take away from the funds specified towards on-campus learning. online learning. Research using the massive data sets available through the edX will guide changes in on-campus education, including the creation of blended classrooms. In these blended classrooms, students will be able to watch lectures online, which will shift focus to interactive discussions and group work during class time.

The Bull & Bear - March 2013

tention of replacing the university system.

Online learning will be a seen as a tool to improve on-campus learning. Nevertheless, some people see the online learning movement as an alternative to higher education, especially in parts of the world where higher education is virtually inaccessible.

Agarwal comments on the ability of MOOCs to “equalize” access to education. He states that “Up to now, quality

than on lectures.

The growth of online classrooms is still a very new concept seeing as edX was founded just a little under a year ago. Even with this growing popularity, no one truly knows where the movement is headed, or just how big of an impact it will make. However, it is evident, as emphasized by Agarwal, that edX has no in-

education – and in some cases, any higher education at all – has been the privilege of few. For some, economics has been a factor, for others, social status, gender, or geography. For edX, it is about quality and access to education.” Although MOOCs are not a substitute for a degree, they may provide valuable skills to people who otherwise would not be exposed to a higher form of education.

For those concerned with the rising costs of tuition and access to education, MOOCs are an appealing concept. Not only do they offer free classes worldwide, Agarwal predicts that the incorporation of blended classrooms and other technologies founded by edX will lower tuition rates at accredited universities. He also predicts overall increased satisfaction among students and professors.

Although the future of MOOCs is still unclear, being at the forefront of this growing trend is important for McGill’s future as a leading global university. The decision to join the consortium may be critical in the future as MOOCs and online classrooms become a standard practice. Masi notes, “The MOOC trend is already raising the stakes for course design, content, and delivery. McGill needs to play a leading role in this transformation.”

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NEWS

The New Face of IRC President Ibrahim leads the council to most successful year in memory Kathleen Tully NEWS WRITER

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he highlight of current InterResidence Council (IRC) President Kareem Ibrahim’s campaign was his YouTube video entitled “Vote for Kareem Style.” The video featured him dancing at all McGill residences in a blue morph suit and received over 6,000 views. It ended with the slogan: “Make true your dreams and vote Kareem, IRC 2012 will be supreme!” Under his leadership, IRC seems to have lived up to this promise.

In previous years, IRC’s efforts were mostly unseen beyond their first event of the year. In comparison, this year’s council has already held three sold out club events for first years, along with an array of other successful initiatives. The council attributes these strides to improved communication with students in residence through the use of social media and residence representatives.

The feedback from a recent survey reflects the success of IRC’s actions: 88 percent of surveyed students felt informed of events, and only 8 percent were not fully satisfied by the IRC events they attended. While the response was mostly positive, the council also identified a need to provide more events for a wider audience, not just those interested in club events. As a result, the council held an arts gala and is in the process of planning another coffee shop along with other residence-wide activities.

The council consists of twenty-seven members, with a seven-member executive and two representatives from each of the ten residences. There are also two advisory members of IRC who served on the council in the past. “The true heart of IRC lies within the twenty representatives from each residence,” explains Ibrahim. “Without them, our frequent communication and collaboration with each residence would be next to null.”

This year’s council is a coherent group, with Ibrahim stressing the importance of team cooperation. “It can

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be said with confidence that the overall goal of everyone on IRC is not only to fulfill their position passionately and adequately, but to also lend a helping hand to other IRC members when necessary to ensure that our goals are consistently met.”

The IRC budget also funds the Environmental Residence Council, which coordinates events in residence that encourage sustainability, such as “Fight the Power,” an energy reduction competition between residences. The council has also created ties with the Food Representative Council, a committee that connects students to Food and Dining Services.

Ibrahim was involved in student government prior to McGill, serving as the Student President of Earl of March Secondary School in Kanata, Ontario.

Through this involvement, he became hooked on leadership. “Representing my peers, playing an important role in organizing events, and doing everything else that any form of student government does is largely my passion,” says Ibrahim.

Therefore, upon arriving at McGill, Ibrahim was eager to participate in student government. “I aimed to get my name out there and meet people above all else,” he admits. In Ibrahim’s view, this strategy accurately represented how he would be in office. “The amount of time and energy that I invested in those things helped further my campaign by providing people with a direct example of how I would be committed to the position the same way I was with the campaign.”

For the rest of the year, IRC looks forward to holding a variety of events, including a campus-wide Capture-theFlag, another coffeehouse, and a picnic.

The council also plans to work in conjunction with other groups on campus, such as with Youth Action International for their upcoming “recyclathon” event.

Looking forward, Ibrahim hopes

PHOTO BY JD MOIREZ

that this year’s gains will not be lost and that the strong reputation of IRC will continue on. “My greatest hope is that we can pass down all the things we learned this year and the different resources we managed to tap into. With the insight that IRC will have accumulated over the whole year, from successes to failures, we can allow next year’s IRC to start off on the right foot and begin creating their own legacy.”

In terms of his own political future, Ibrahim is looking to stay involved on campus, though he is not certain through which outlet yet. “The future is full of opportunities, and it’s for that reason that I am completely comfortable not knowing for sure what it is I would like to pursue next year, or even the year after.”

For now, Ibrahim is just happy to have been this year’s IRC president. “I can confidently say that IRC has been the most enjoyable experience I’ve had all year – working with such committed and compassionate people doing something you enjoy is incredible, to say the least.”

Make sure to keep in touch with IRC this year through Facebook (www.facebook. com/McGillIRC), Twitter (www.twitter.com/IRCMcGill), and e-mail (ircmcgill@gmail.com).

NEWS

AUS Successfully Averts Financial Crisis $114,000 officially reclaimed from Quebec Government Pallavi Kamalsurya NEWS WRITER

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fter finally filing their taxes from the last four years, the AUS has now reclaimed $114,000 of their funds that were seized by the Quebec government. Since the AUS had not filed their taxes from 2008 onwards, the Quebec government initially froze $16,000 in 2010 from the AUS’ chequing account, followed by $84,000 in 2011.

Moreover, McGill withheld all student fees from 2010 on because the AUS had failed to submit their mandatory audits. In an attempt to disentangle this crisis, current AUS VP Finance Saad Qazi spent both summer and winter break working with the AUS’ hired accountants from LMKCA to back-file the accumulation of taxes dating back to 2008. It was just last month that the government removed the AUS from the list of delinquents and released $114,000 of seized funds; an amount that was more than what Qazi had expected.

Starting at a mere $800 in the chequing and savings accounts respectively, an ecstatic Qazi reported that now the AUS has over $315,000 in their savings account. The influx of funds is courtesy of the released funds and profits from events like Frosh, which made $17,000 alone in profit in 2012. Since the AUS filed their audits to McGill, the Administration has finally released all student fees to the AUS. Qazi also revealed that according to the exit report of the VP Finance two years ago, it would have taken at least ten years for the AUS to bring their savings account to the $135,000 that they had before the “financial crisis” occurred. Qazi managed to do it in just one year. So the same question arises once more: How can this situation be averted in the future?

As per the proposed changes to the by-laws of the AUS, the new VP Finance should have some prior knowledge of fiThe Bull & Bear - March 2013

AUS VP Finance 2012-2013 Saad Qazi

nance and accounting. Moreover, Qazi also mentioned that the AUS has put forth a referendum in the hopes of hiring a fulltime employee to overlook the finances.

This would ensure that the operations are carried out to the level that the auditors require.

Is the $1.50 increase in full-time student fees, which will be allocated towards funding the salary of the new employee, be enough to ensure that this financial debacle never happens again? Qazi and AUS President Devon LaBuik definitely agree. If the referendum in question regarding the new employee passes, then the new VP Finance would need some basic knowledge pertaining to financial management.

Right now, Qazi said that they keep only the bare minimum of the finances

PHOTO BY NAT CARSON

to cover the day-to-day operational costs.

Moreover, severe “austerity measures” have also been imposed on this year’s AUS executives. For example, traditionally, the AUS funds the clothing orders, but this year it is the executives who will be doling out the cash for their individual customized hoodies. Although seemingly slight, such actions can go a long way to instill a newfound sense of responsibility that executives of the largest faculty undergraduate society at McGill must have when continuing onward in the wake of such a financial disaster.

The next VP Finance will have some big shoes to fill next year, as Qazi’s term ends at the end of April. Saad notes, “[I] hope the financial mechanism we have set up now is good enough for the people this year and the one after that.”

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MARKETS THE MACROECONOMIST

Bubble and

Trouble?

The Canadian housing market faces imminent risks and no rewards Belal Yassine

MARKETS WRITER

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he greater fool theory indicates that economic bubbles occur when optimistic market agents (fools) buy an overvalued asset in anticipation of selling it to more optimistic speculators (greater fools) at higher prices. This vicious cycle continues until the market finally finds the greatest fool of all, who pays the highest price for the asset. And while the U.S. housing market found its greatest fool sometime in 2006, fools have taken over the Canadian

housing market as home prices surge well beyond their historical valuations.

Canadian home prices have increased by more than 70% in real terms since 2000, and no matter how you look at it, the Canadian housing market seems unjustifiably overvalued by a significant figure.

for predicting the U.S. housing collapse, showed that housing prices tend to follow their long-run average real price. There might be periods where housing prices strictly outpace inflation, but these are only to be followed with periods where they lag behind the inflation rate. Currently at 80% above its historical real price average, Canadian housing prices are likely to lose Overvalued By All Standards their race with inflation over the next few Yale economist Robert Shiller, famous years.

Price-to-Income Ratio Index, 2000=100 180

Canada

160 140 120

U.S.

100 80 60 40

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MARKETS THE MACROECONOMIST

Price-to-Rent Ratio Index, 2000=100 180 160

Canada

140 120 100

U.S.

80 60 40

A possible indicator of housing affordability in Canada is the price-tohousehold income ratio. Having increased by more than 50% since 2000, the ratio is considered overvalued by around 34% relative to its historical average according to The Economist.

The price-to-rent ratio, analogical to the price-to-earnings ratio for stocks, is perhaps the most appropriate gauge of fundamental value for housing prices. Having almost doubled since 2000, the ratio is currently at 78% above its historical average. A research letter by the Federal Reserve Bank of San Francisco, dating back to 2004, shows that most variance in the price-to-rent ratio occurs due to changes in future returns, not rents. This suggests that if the ratio were to regress to its historical average level in Canada, home prices are likely to adjust, but not rents.

The most daunting of all is that these valuation metrics—price-to-rent, price-toincome and price relative to historical real value average—have surpassed the levels reached by the U.S. housing market in 2006.

housing market.

The high price-to-income ratio might be justified by rock bottom interest rates which help make housing more affordable.

However, this unprecedented low interest rate environment is unlikely to last forever, as Mark Carney, Canadian central bank governor, hinted several times at possible interest rates hikes come 2014. According to research by RBC on housing trends and affordability, high interest rates are the most significant threat to home affordability in Canada.

Though interest rates might not rise in 2013, Canadian household indebtedness seems to have reached alarmingly dangerous levels at 1.65 times disposable income— approaching the levels reached in the U.S. before its 2007-2008 housing collapse.

Stalling consumer debt accumulation is likely to be a headwind for residential housing.

Beyond the cyclical ups and downs, demographic factors are probably most influential for housing prices in the long run—and the numbers aren’t promising.

Housing prices tend to be negatively Imminent Risks correlated with the ratio of under 20 or Some might argue that somehow “this over 64 to those aged between 20 and 64. time is different,” and that current conditions Professor George Athanassakos from the might not necessarily imply a tendency for University of Western Ontario calls this reversion to the mean. And while that might the demographic effect. As baby boomers be true in some cases, the current conditions drop out of the labour force, this ratio will are by no way promising for the Canadian turn upward in 2015 and housing prices will The Bull & Bear - March 2013

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likely go in the opposite direction. While this relationship only implies correlation and not necessarily causation, it seems sensible: individuals between 20 and 64 enjoy increasing credit availability and higher degree of asset accumulation than those in retirement who essentially consume through asset depletion and have decreasing unsecured credit availability.

Looking for the Greatest Fool?

Before concluding, it is important to note that although the Canadian housing market as a whole is overvalued, the scenario is not necessarily applicable to every submarket. With over 50% of Canadian mortgages being insured by the federal government through the Canadian Mortgage and Housing Corp and lower exposure to subprime mortgages, the Canadian housing market might not necessarily be heading to a U.S. style housing nightmare.

However, demographics, future interest rate hikes, and unsustainable levels of consumer debt accompanied with valuation levels that are reminiscent to those of the U.S. housing market before its collapse all indicate that the Canadian housing market should witness a significant correction.

With housing prices slipping for the 5th consecutive month by a small margin and home sales volume declining by 5.2% yearover-year, the Canadian housing market might have already found its greatest fool.

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MARKETS

China: They Built It, But Will They Come?

An economic perspective of China’s ghost cities Michaela Hirsh

MACROECONOMIST COLUMNIST

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he New South China Mall in Guangdong Province was completed in 2005 and holds the title of largest shopping mall in the world. It features 5 million square feet of shopping space and, with capacity to accommodate up to 2,350 stores, it is more than twice the size of the largest mall in America. Another Chinese real estate spectacle, the Wonderland Amusement Park in Nankou Town, Changping, was designed to be the largest amusement park in Asia, covering 120 acres of property. The stateof-the-art Chenggong District in the Chinese province of Yunnan features miles of modern apartment complexes, newly constructed office buildings and hundreds of public parks.

The problem? “It’s like walking into a forest of skyscrapers, but they’re all empty,” one financial analyst has said. All of these real estate projects, sophisticated and staggeringly impressive, are virtually empty, devoid of life and any signs of inhabitance.

As of late, dozens of satellite images have emerged out of China, depicting large development projects like the ones mentioned above. The only thing missing is people. These towns are almost completely uninhabited, giving rise to “ghost cities” that have become commonplace throughout China. It is estimated that 10 new ghost cities are built every year, which has led to the current 64 million vacant home units across the country.

With China’s centrally-planned economy, the government sets GDP targets that must be met. According to the IMF, real estate accounts

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directly for 12 percent of China’s GDP, and has been a major vehicle used to boost the GDP numbers that investors worldwide await with baited breath each month.

China built and continues to build these cities in the hopes of fulfilling the mantra, “if you build it, they will come,” but many suspect they never will. One vacant shopping mall even features counterfeit Starbucks and KFC signs to give the appearance of foreign investment. For the average Chinese working class individual, these homes surpass anything they can ever hope to afford. Only the new,

PHOTO VIA MALLSANDSHOPPING.COM

THE MACROECONOMIST

version of the Arab Spring.”

Though investment for investment’s sake continues unabated, millions of Chinese peasants live in hopelessness and disillusionment, knowing that though so many homes are available, they are all far out of reach. Home ownership is but a far-fetched dream for many Chinese, who long for the government to intervene to provide affordable housing.

It must be noted that this is not simply a Chinese problem. China is the primary consumer of global cement, steel and iron ore

All of these real estate projects, sophisticated and staggeringly impressive, are virtually empty, devoid of life. emerging middle class invests in these new real estate developments, as the Chinese government forbids investing abroad, banks offer paltry returns, and home ownership has become a right amongst investment opportunities that are few and far between.

While new money has pushed up home prices, these few investors are not enough; Wang Shi, CEO of Vanke, the largest residential real estate developer in China, has said that developers have begun to abandon projects midway through due to less than stellar sales.

He also warns that if the Chinese property bubble were to burst, “China could see its

on a per capita basis. The alarming part? All of these resources have gone and continue to go to malls with no stores, homes with no residents, and roads with no cars. Is China really growing as much and as quickly as it claims? Is this quality GDP growth or simply quantity? What will happen when the growth slows, or stops altogether?

It is now up to the Chinese government to decide if its obsession with printing incredible GDP growth is justifiable, and for the rest of the world to negotiate with the fact that China may not always be the driving force behind demand.

MARKETS

CleanStar Mozambique: An Environmentally Sustainable Business Model One firm is fueling the economy of an entire nation Natalya Hibbert

MARKETS WRITER

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leanStar Mozambique is a fastgrowing company created by Novozymes and CleanStar Ventures that promotes a transition from charcoal to ethanol in Mozambique. Unlike other failed attempts to generate ethanol in an impoverished country, CleanStar aims at remodeling all aspects of the lives of small farm holders in the country. More than 50 percent of the 23 million people of Mozambique are living on less than one dollar a day. The nation’s GDP per capita is USD 1,000. This company not only uses ethanol as the new source of energy but also prevents deforestation in the country by helping farmers learn new agricultural techniques instead of the archaic methods to which they are accustomed.

Initially, yields from burning down African forests are high because of the natural organic materials in the soil.

However, after longer periods of time, crops are no longer able to grow in these areas and farmers have to destroy more areas to start over again. This has created a vicious cycle where deforestation has become the key problem. The rise of atmospheric black carbon from charcoal in developing countries is becoming as much a contributor to climate change as CO2. In addition, health costs caused by charcoal such as pneumonia or lung cancer are irreversible and are contracted at an early age.

A World Wildlife Fund report cited Cleanstar as a “game-changing innovator,” The Bull & Bear - March 2013

based on its new agricultural techniques.

Typically, ethanol is made with either

PHOTO VIA BEDROCKAFRICA.WORDPRESS.COM

THE INVESTMENT MANAGER

exposure to charcoal smoke. CleanStar also hopes to move into other African countries

CleanStar not only uses ethanol as the new source of energy but also prevents deforestation in the country by helping farmers learn new agricultural techniques. corn or sugarcane, yet this company uses Novozymes’ enzyme technology to create ethanol from starch found in the cassava root.

CleanStar introduced sustainable farming techniques to local farmers for the cultivation of cassava. The company also ensures that farmers use the lands that were previously cleared for charcoal production.

Cassava is then converted to fuel ethanol by CleanStar at the firm’s own distillery. Finally, they sell the ethanol cooking fuel, along with clean cook stoves through their own distribution channels to the local market.

This innovative idea is quickly jumpstarting the economy of Mozambique – and this claim is data-driven. It is said that the smallholder farmers have increased their incomes by over 400% and have improved their quality of life by reducing their

to replicate their effective, sustainable and profitable business model.

The story does not end here. It seems that major financial institutions have taken notice to CleanStar’s work and now provide “carbon finance” to reduce the costs of these clean cook stoves in Mozambique.

Bank of America Merrill Lynch, under the firm’s 10-year, $20-billion dollar business initiative, has made a financial agreement with CleanStar. BofA Merrill Lynch will purchase all CERs (Certified Emissions Reductions, measured by tonne CO2 reduced) that Cleanstar generates through its program.

This company is stepping into new territory by creating a business plan that encompasses many climate change issues and forms a set of guidelines for the future of carbon emission reduction projects.

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MARKETS

Strategy. Management. Discipline.

Overlooked economic remedies that avoid fiscal cliff pain Maxime Riahi

COLUMNIST FOR THE TRADER

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rading can be divided into three main categories of expertise: strategy, management, and discipline. Put another way: decision, risk management, and willpower.

These three elements are the only things you will be able to control in the market. The public loves to emphasize strategy in all its glamour and prowess.

Strategy is essentially your reason for entering and exiting the market. What conditions need to exist for you to want to buy and sell? In its most basic form, strategy is our means of making decisions consistently. Some people don’t use a strategy in the market, leading to unsustainable practices. A common example of this is trading on a whim.

Strategy is the minimum prerequisite for being a successful trader as it defines the way you make decisions in a consistent and concrete way. But strategy alone will not make you successful. Having a strategy in the market will take you from being a financial idiot to a trading amateur.

Well if strategy is necessary, then why am I undermining it? The reason

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is that strategy is a tiny part of your overall plan. The most important part of a trading plan is not the strategy, but the management. Mastering risk and money management will help you tremendously more as a trader than any strategy. Management is the skill of losing. To be a skilled money manager essentially means you are getting very good at taking losses. The trick is to take tiny losses so that your account is still there when it is time to bank a profit.

PHOTO VIA FLICKR: BRITTANY_83

THE TRADER

the ‘get rich quick’ aspect of markets.

It is easy to make a 100% return in the market. All you have to do is overleverage your entire account, take massive risks, cross your fingers, and hope you are right.

The crazy part is you may in fact be right and double your account in a matter of days. It is hard to understand that this is an illusion. It is not sustainable. You cannot consistently do this, because you will eventually wipe out your funds. That is the entire

Strategy is a tiny part of your overall plan. The most important part of a trading plan is not the strategy, but the management.

Warren Buffett’s first rule of investing is capital preservation. Learn to keep your money before you learn to make money. People are attracted to

point of risk management: to ensure that you are risking enough per trade so that you can live to see another day in the market. Trading is a long-term

MARKETS THE TRADER endeavour. The more emphasis you place on the individual trade, the more likely you are to screw up. Learn to see

of the market are in front of you and you just want to get in. The market is alluring. Then, all of a sudden, you

Why would anyone spend hours devising a strategy just to not follow it? The answer is summed up in two words: greed and boredom. the big picture of your trading goals.

So if I have strategy and risk management I will be a successful trader, right? No. These are the tangible elements of any good trading plan. Decide when to enter and exit, and how much to risk when you do.

But there is an intangible element to successful trading that is hard to teach and essential to have in order to win: Discipline. Discipline will make or break a trader. Basically, discipline is your ability to stick to your plan. If your plan consists of your strategy and risk management, then discipline is having the resolve to listen to the plan and make trades according to it at all times.

You probably think this is obvious.

Why would anyone spend hours devising a strategy just to not follow it? The answer is summed up in two words: greed and boredom.

Imagine sitting in front of a price chart. According to your strategy, you will buy into the market when you see an uptrend. You will also wait for a low volatility state in the market.

To ensure you are here to see another day, you decide to only risk 2% of your account on each trade. So if you are wrong on this trade, you only take a 2% loss. This is your plan. It’s simple and easy to follow. What could possibly go wrong?

Fast forward: it turns out the strategy you created very rarely has open signals to enter the market, so you find yourself sitting on your hands a lot and waiting. But you want to be a trader! All the bright flashing lights The Bull & Bear - March 2013

see a chart pattern form that you read about once in a book, and decide to commit to the trade, finding yourself in a trade that you were not originally prepared for. Sometimes it will work and you will, in fact, make money, but the point is that you lost your discipline. You didn’t follow the plan.

You were bored and wanted to make trades because sitting around all day was getting annoying; you got greedy and tried to do more than what you had been planning for.

Trading out of boredom is similar to the act of taking drugs. Some become addicted to the flashing lights and thus lose sight of the reason we trade. Trading is an activity of making money. Trading just to get a rush has the nasty tendency of, like drugs, leaving you wanting more. So you make more trades and take more risks. Before you know it, you’re living

skill. So start small and build up your discipline. Create a habit and stick to it. A tiny habit. Instead of saying you will floss your teeth once a day, start smaller and only floss one tooth a day.

Just one tooth and you are done for the day. Then next week add one more tooth. Stick to it. By the end of the year you will be a regular flossing citizen!

The point of the exercise is to show yourself that you can in fact develop a plan and stick to it.

Self discipline is perhaps one of the hardest things we must learn in

The only way to consistently profit off the market is to have a battle plan. behind a dumpster eating yesterday’s croissants.

You are not better or smarter than the market. The only way to consistently profit off the market is to have a battle plan. It will make your decisions faster and sharper. Plan the trade and trade the plan.

Discipline is the hallmark of professional traders. It is a developed

our lives. Don’t smoke. Don’t eat that muffin. Go to the gym. Eat a salad.

Write that essay today. Floss! Without discipline, we would be incapable of delaying life’s daily pleasures in the name of real satisfaction. Without discipline we would live like impulsive instant-gratifiers. Maybe that’s okay in life, but instant gratification in markets will lead to instant demise.

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EDITORIAL

Come Together Why we need to unite against the PQ The Bull & Bear Editors

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pproximately one year ago, our city was rocked by massive protests against the Charest government over proposed tuition hikes. Polarization was at an all-time high and nearly every political pundit, campus paper, and journalist was commenting on the state

PHOTO VIA MONTREAL GAZETTE

gleefully parading in front of the cameras, presented herself as a “true voice” for the students - one who would listen to their demands and respect their input. The PQ promised that, despite the tuition freeze, funding would be provided “to keep universities whole.”

PHOTO BY JD MOIREZ

and future of this city. It was, without a doubt, the biggest story of the year.

The Parti Québecois, headed by Pauline Marois, emerged as the favourite to lead the new provincial government.

Marois, proudly donning a red square and

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But a mere four months after winning the election, the PQ government has dealt a crippling blow to the very institutions we attend, choosing to cut university funding by over $250 million retroactively, $38.2 million of which for McGill,

thus leaving a very surprised McGill Administration up the creek and without a paddle.

Furthermore, the PQ threatened that failure to reduce expenses by $19.1 million by April 2014 would result in an additional cut to McGill of $32 million.

Three-quarters of the McGill budget is devoted to already-negotiated salaries; cutting back this amount is a near impossible task and will certainly affect our quality of education.

This move by the PQ shows a clear lack of understanding for the movement, let alone a lack of respect for the voices of students. Students marched in the streets for an accessible education, not a cutrate one. As a McGill community, we are fiercely proud to attend one of the strongest universities in the world, and will not stand idly by while the PQ government undermines its very foundations. Students took to the streets for the ideal of making education more accessible, not destroying its quality, and it is time that we as students show that we are a united community against the cuts.

The Marois government has caused enough damage as is. From controversial and stifling enforcements of the French language to her flagrant distaste for Montreal’s immigrant population, much of this city’s recent issues have been at the hands of her government, dampening its appeal as a vibrant and diverse city. Now,

EDITORIAL

PHOTO BY JD MOIREZ

Marois has set her sights on the very issue she rode to victory on: education.

As Mrs. Marois may have forgotten, universities provide significant returns for the Quebec community. In 2008, McGill had an annual economic impact of $5.2 billion on the Quebec economy, whilst the total investment of the Quebec government in McGill was only $389.1 million over 2008 and 2009. It is clear that cutting university funding will hurt the province’s economy, ignoring the obvious loss of government revenue.

Furthermore, by choosing to cut the very support structures of these institutions in favour of their own agendas, such as the Office Québécois de la Langue Française, the PQ’s actions show very little regard for the long-term value of education. Universities are not just trade schools or apprenticeship colleges; one cannot simply cut funding and expect a standardized quality to come out every year. Universities serve as a foundation for innovation, research, and critical thinking.

The calibre of students that attend McGill come not just for a degree, but for the facilities that allow them to think differently. The institution’s capacity to instill students with critical and foundational skills exists only to the extent to which it attracts world-renowned teaching and research talent. The cuts not only hurt the university in the short-run, but The Bull & Bear - March 2013

will also dissuade future talent from attending or teaching at a university that would be severely underfunded, in a province that is run by a blatantly xenophobic government interested only in serving its own ends. The cuts will not only affect McGill’s core mission and quality of

on the tuition hikes or your method of political participation, we can all agree that we do not want to see the very foundation of our society, our education system, weakened.

Unlike the Marois government, we value what McGill has to offer Quebec

PHOTO BY JD MOIREZ

education, but will undermine the fundamental purpose of our system.

We at The Bull & Bear take a firm stance against these cuts by the PQ government and call on our fellow students to do the same. Regardless of your stance

and the world and will always strive to seek its improvement, not stand by and watch it crumble under a deceptive and ineffective government. Marois promised to listen to the students; it is time she prove herself true.

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LIFESTYLE

Does Music Help or Hurt Your Studying?

Finding the right type of music for your study environment Matt Herzfeld

LIFESTYLE WRITER

I

n high school gym class, power walking was my exercise of choice; not because it was easy but because I could walk, text, listen to music, and read a book all at once.

In college now, with essays, presentations, internships, job applications, the pending burden of loans and unemployment, and maybe a social life, the space between the Humanities Library and Bellevue Mental Ward starts to narrow. The solution to the “problem” of college life becomes less about time management and more about personal comfort.

Just as diets are a temporary solution to the permanent problem of adequate nutrition, eradicating distraction from your life is more deprivation than improvement. It seems that the amount of emails, notifications, and assignments we receive increases every day, and with that, so does the opportunity for distraction.

In the ever-popular field of music cognition, studies express conflicting opinions on whether or not music aids focus in work or study. Though most research indicates that music hinders short-term memory and cognition, these findings neglect one critical fact: our worlds are getting noisier. Ask anyone suffering through the second-hand music leaking from your Dre Beats.

I bought noise-canceling headphones so I could bottle up my world when I’m in the library, at the café, or caught next to a random smattering of doofuses relaying their previous night’s escapades. When I found myself wasting more time shuffling through songs than I was completing the work I set out to finish, I began to

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wonder, what kind of music will place me in the state of comfort and attention to be productive and sane?

The consensus among cognitive scientists is that lyrics interfere with studying. According to Clifford Nass, a Stanford University Professor, “the human brain listens to song lyrics with the same part that does word processing, which is the same part that supposedly is being employed for studying.

Professor Nass continues, “Music with lyrics is very likely to have a problematic effect when you’re writing or reading.

Probably less of an effect on math, if you’re not using the language parts of your brain.” In that case, the top 40 pop music blasting in the café probably won’t help...

In an article called, “Music and the Mind,” Dr. Ballam writes, “The human mind shuts down after three or four repetitions of a rhythm, or a melody, or a harmonic progression.” Disagree? Call Me, Maybe.

That leaves instrumental music as the best alternative. Although I’m no society type, I take some pleasure in a waltz or two. Since my ears are attentive to some of classical music’s nuances, I have to be careful in the songs I choose; for instance, though Gustav Mahler’s a God, his music is too magnificent for reading a marketing textbook. With jazz, one moment I’ll be reading a Marxist critique of depressionEra musicals, and next thing I know my mind is trading fours with Charlie Parker.

Simple solo works on piano or guitar, like Chopin, Ravel, Satie, or Segovia, are probably most appropriate. Chamber music is no prison either.

The solution, according to time management firm Focus@Will, is to

listen to unfamiliar music. Since familiar music releases dopamine to the brain (just as food and other forms of pleasure can), music you like will bring you joy, but not always an A on your accounting assignment. That doesn’t mean you should listen to music you dislike. Glenn Schellenberg, a psychology professor at University of Toronto, published a study that finds fast, loud background music, such as metal, hinders reading comprehension.

Downtempo foreign language tracks or artists with calming music and a general disregard for elocution provide a pleasant middle ground. In the “foreign language category” (the silliness of such a category makes my mind tingle, but nonetheless), I find Latin American, and Portuguese language artists to be the most effective study aids. Balkan and West African music are also beautiful, but the fast tempos and exotic high-pitched sounds might be distracting (you also might find yourself dancing in lieu of finishing that lab report).

If you find crystal clear vocals secondary to soundscape, artists like Beirut, Bon Iver, Sigur Ros, Beach House, Middle East, Yo La Tengo, and pretty much any schlomo with an 8-track recorder and an ounce of lawn clippings might make the right study soundtrack for you.

Some useful tools for curating your playlists are the music streaming services Songza, Spotify, Pandora, and Rdio.

Like acing an essay, finding the perfect music for your study environment is part effort and part divine intervention.

Sometimes the song makes sense; sometimes an idea rings true.

LIFESTYLE

Surprise!

An inside look at increasingly popular, impossible-to-prepare-for interviews Olivia Hoskin

LIFESTYLE WRITER

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ou walk into a room in your freshly pressed power suit, sit down nervously and prepare to answer the common questions about what makes you the most ideal candidate for a job. You expect to detail your strengths and weaknesses or describe a situation in which you took a risk, but instead find yourself solving puzzles, drawing diagrams, or even participating in a keg relay race.

In a time where being “different,” “unique,” or even “weird” is the new norm, what is the last straw when it comes to finding an ideal candidate for a position? Companies are more and more frequently differentiating themselves based on measures of innovation and creativity by conducting unconventional interviews, but do these processes really ensure that the right candidate will be selected?

As the world is becoming increasingly more connected, competition among interviewees is fierce, and application processes have evolved into complex, multi-stage tests of skill, knowledge, creativeness and overall eccentricity. Phone and video interviews feel relatively “normal” compared to the cultural fit and numerical reasoning tests, behavioural and informational interviews, and case studies that have become increasingly popular over the past few years. Your passion and qualifications for a position might just not be enough anymore.

An interviewee’s aptitude might shine through in these unconventional methods, or it might get lost in the process.

On the more alternative end of The Bull & Bear - March 2013

the spectrum includes companies like PepsiCo and Anheuser-Busch InBev, which both use multiple stages of interviews to select the newest additions to their teams. The processes are similar, involving the initial online application, preliminary behavioural, cultural, and reasoning testing, and then a phone or video interview. But things start deviating from the standard procedure after the first human interaction.

A friend applying to PepsiCo went straight to a panel interview with three people: two senior executives and one recent campus hire. The interview included behavioural questions, a case study and finally, the more unconventional stage. For the last task, one of the senior level managers

ILLUSTRATION BY LANNA LAN

Ready, Set,

the final in-person interview. From my own personal experience, it was expressed to me on the phone that the next step would be a group interview process, with time for an introduction, beer garden setup, and keg relay race.

My performance in these unusual events will be the deciding factors for the final stage of the interview process, where I would meet with actual company representatives one-on-one. As excited as I am to be tested via a keg relay, I am nervous that the right skills will not shine through during this process, and I will not have a proper opportunity to prove that I am the most qualified applicant for the job. No amount of homework will ever truly prepare me for some of the unconventional interviews I

In the end, there will always be some element of surprise inherent in job interviews. turned their laptop around and asked my friend to log into their Facebook account. With nothing to hide, they did, but the strange and somewhat invasive assignment may have been the dealbreaker. Although my friend did not get the job at PepsiCo, they did gain a perspective on just how far a company will go to ensure the quality of their future employees.

Anheuser-Busch InBev, the parent company of brands including Labatt, Budweiser and Stella Artois, uses a talent agency to recruit applicants until

know I will face in near future.

Even websites like Glassdoor that provide an inside look at jobs and companies’ interview processes cannot properly train candidates for some of the strange experiences they will encounter. You can research ideal personality traits, alternative interview processes and abnormal or creative questions all you want but, in the end, there will always be some element of surprise inherent in job interviews, and apparently they are becoming more surprising than ever!

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LIFESTYLE

Does Business Really Equal Busyness?

Why being busy won’t land you the dream job

W

hile studying the etymology of the word business, I learned that doing business refers to “the state of being busy by doing commercially viable and profitable work.” At Desautels, we define “busy” as taking on more and more projects to not only fill our days but also, let’s face it, boost our resumes. Does business really equal busyness as the etymology of the name suggests?

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PHOTO VIA MILLENIALMARKETING.COM

Mor Pecht

LIFESTYLE WRITER

LIFESTYLE

ILLUSTRATION BY NOEMIE DIGNAT

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usinesses see time as a money machine. At Desautels, we also consider our time in terms of future monetary value. That means that the busier you are, the more successful you are likely to be after your BCom. This in turn creates the stereotype of ruthless business environments where we fight to be busy in order to stand apart from the competition. Here, “survival of the fittest” becomes “survival of the busiest”. It certainly, however, does not mean we are always busy doing things we enjoy. On top of running around from meeting to meeting, we are involved in all kinds of extracurriculars, from Case League to McMUN, hoping that all this busyness will lead to future financial success.

This stems from the misguided conclusion that being busy leads to success. In TV shows like Mad Men, the main characters are always suited up, running in and out of meetings, and searching for “what’s next.”

They never stop. 30 Rock’s Jack Donaghy said it best: “I have the great

university, working hard, and getting good grades, we expect a good job and a big house. Yet, we need to face the reality that the same opportunities do

Our generation looks for instant gratification, and that is one of the greatest obstacles in our way to career success looking-at-the-watch skills needed to be a CEO.” If you’re busy, you are much more likely to be perceived as successful, especially at Desautels.

We are all working towards success.

When I got accepted at McGill, my mom even gave me several books such as “Life as a College Graduate” and “What I Wish I Knew When I Was 20” to guide me towards “the dream job” in a painless way. These books, however, aren’t enough to ensure that I succeed. We need to lead our own lives, not the ones from self-help books. This means having meaningful experiences by following our passions and learning from our own mistakes.

We still need to actually try and fail.

On the one hand, after going to The Bull & Bear - March 2013

not exist as in previous generations.

Boosting your resumes with extracurricular activities you don’t really care about may not make you happier or even more successful in the long run. With that in mind, do we really want the journey from university life to business life to be so stressful and so bland?

Our generation looks for instant gratification, and that is one of the greatest obstacles in our way to career success. We must recognize that we can only try our best during our college years and that long term endurance should not be overlooked. German Philosopher Arthur Schopenhauer suggests that achievements are only a small speck of our lives and for

that reason, life in general is not worthwhile since we work for much longer than the time we enjoy our successes. Camus, however, offers a different, less defeatist approach. In The Myth of Sisyphus, he describes the need to enjoy the journey. Life is the journey and what we get out of it is up to us. If we are too busy we may forget to enjoy the journey and then wake up to Schopenhauer’s gloomy views.

Our lives have become increasingly busy and interconnected in the past century. Technology allows markets to operate 24/7 and people rarely get real, if any, vacation from their smart phones. Busyness has reached a new level since it is that much harder to disconnect from our work. Therefore, it is more important nowadays to occasionally stop and look at the road ahead. We should emphasize spending time doing things that will make us happy in the long run, and clear our minds from the clutter of daily business. We should not lose track of our goals and values, and remember that being busy should not be the aim. For me, this means enjoying what I can and savouring university despite the Canadian chill, despite the homework, and despite the looming pressure of what happens after graduation.

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LIFESTYLE

Gap Year Guide

PHOTO VIA STOCK FREE IMAGES

The

Helping you love every minute of unemployment Emily Barber

LIFESTYLE WRITER

I

t’s March of your final semester at McGill. All your friends are beginning to prepare for the start of their first job after graduation, while you are packing your bags to return to your parents’ basement, unemployed and unimpressed. Fear not, and cancel your flight home. There are plenty of cool things to do during your “gap year”. Who said “gap years” were limited to high school students? Whether you’re looking for adventure, work, or volunteer opportunities, there is something for everyone outside of the Roddick Gates and glum office cubicles.

Tour D’Afrique Tour D’Afrique is the ultimate adventure for serious cyclists. The group meets in Cairo, Egypt to begin their journey, and 12,000 kilometres and four months later, they arrive in Cape Town, South Africa. Participants will bike for a total of 94 days and rest for 27 days touring throughout Egypt,

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Sudan, Ethiopia, Kenya, Tanzania, Mozambique, Zambia, Zimbabwe, Botswana, Namibia, and South Africa.

For those of you who are natural-born competitors, there is also a race aspect of the tour if the beautiful surroundings aren’t enough to motivate you through 180km bike rides. However, this expedition is not for those with shallow pockets. The total cost is just shy of 14Gs. More info at: http://tourdafrique. com/tour-overview/?t=tour-dafrique

Become a House Sitter House sitting is an awesome way to travel with free accommodations. Pick a country at random and look up house sitting assignments on The Caretaker Gazette, HouseCarers, House Sitters America, and Luxuy House Sitting. Some of these sites have small subscription fees, but the savings on room and board while travelling will be worth it! Some

assignments ask that sitters do basic housework and yard maintenance and others may require a pet sitting as well.

One housesitting ad reads: “Experience Real Thailand and Take Care of our Persian Princess.” I don’t know about you, but that sounds like a good deal to me. An alternative to housesitting, if you are uncomfortable staying alone in a stranger’s home, is becoming an Au Pair (fancy word for live-in nanny). Lots of great opportunities can be found at http://www.aupair.com/.

Work on a Cruise Ship What better way to spend a gap year than making a bit of dough while sailing around the Caribbean or the Mediterranean? Cruise Lines Jobs is the hub of all jobs relating to cruise ships – whether you want to pursue your culinary dreams or play piano as on-ship entertainment. In addition, you won’t

LIFESTYLE start couchsurfing. The site http://www. couchsurfing.org is now a community of over 5 million members in 97,000 cities. Most peoples’ major concern with couchsurfing is safety; however, Couchsurfing.org has worked hard to develop a multi-faceted reputation system, complete with references,

have to spend a dime on accommodation and food and you won’t have anywhere to spend your wages. Consider it forced savings in the best way possible!

Teach ESL

Start Surfing Couches For the ultimate free spirit, pack your bags, head to the airport, hop on the cheapest flight to somewhere exotic and

profiles, verification, and vouching tools.

You have the rest of your life to work in a cubicle at a 9-5 job, and gap years become less and less acceptable as you get older.

People are not quite as understanding when you want to take a year off from your position as a VP or as a full-time mom. So live while you’re young, pick your adventure, and go explore!

ILLUSTRATION BY LANNA LAN

Teaching English as a second language is a sure way to make money while travelling. Not to mention the pay is quite lucrative — maybe even more than your roommate’s starting salary at KPMG. Dubai is listed as one of the most attractive places to teach with a monthly salary of up to $5,000 plus furnished accommodations. If that isn’t enough, most companies even cover a yearly return airfare to your home country!

WWOOF-World Wide Opportunities on Organic Farms WWOOF connects volunteers with organic farmers all over the world with the goal of helping people share more sustainable ways of living. Volunteers are provided free stay in exchange for their help. WWOOF is the perfect gap year project for the environmentally conscious traveller, who wants an authentic local experience. Visit http://www.wwoof.org/ index.asp to find out all the destinations you can go to!

The Bull & Bear - March 2013

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LIFESTYLE

The Dos and Don’ts of Subletting Tips for a worry-free summer Don Wang

LIFESTYLE WRITER

Are you subletting your apartment this summer? Whether you’re off to a fast-paced internship in New York City, heading home to a stress-free vacation with mom and mad, or flying over to Europe for your own Eurotrip, The Bull & Bear has a few dos and don’ts to help you find a tenant you won’t have to worry about.

Dos DO sign a lease or contract. If you’re renting out to a stranger or someone you have no way of tracking down, have a written agreement signed to avoid confusion. The agreement should include the dates of subletting, the amount charged, everyone’s signature and full names. It would be wise to explicitly state that the subtenant is responsible for any damages done to the apartment.

DO ask for a security deposit. This is a backup insurance as well as a source of motivation for the sub-tenant to respect your space and furniture.

DO set a list of rules. Some important details you want to work out beforehand include: Are pets allowed?

Are guests allowed? Are parties allowed? Is smoking allowed?

Make sure to include any additional conditions in the contract.

DO decide the method of payment and due date beforehand. Both parties should agree on how to pay and when to expect payment. This might be a monthly online transaction or a one-time cash exchange. Having an agreement will stop you from panicking halfway across Canada or worst, halfway across the world, about paying rent.

DO have a way to store your personal belongings. Even if it is just one box of personal or valuable belongings, it’s probably best to leave it with a trusted friend rather than in your room where anyone, the sub-tenant or their friends, could access it.

DO beware of scams. Scammers typically respond quickly to your advertisement and generally do not ask for any pictures, questions, or details about the apartment. Trust your instincts; if it seems too good to be true, it probably is.

For more information about scams, go to: http://www.mcgill.ca/students/ housing /offcampus/beware-e-mailscams DO figure out how utilities will be paid.

You might choose to include it in the rent so that the sub-tenant pays a single amount. If not, changing the name on the utilities bill to the name of the sub-tenant would make life a lot easier. All it takes is one call to the utility company.

PHOTO VIA STOCK FREE IMAGES

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PHOTO BY JD MOIREZ

LIFESTYLE

Don’ts DON’T let them move in without meeting them first. First impressions are very important and you should feel that the other party is responsible and reliable before letting them stay in your apartment. If you have roommates or housemates, this is a good chance to let them meet other. After all, you would not want to be stuck with a messy, unclean person for an entire summer and neither would your roommates. If you are subletting while you are away from Montreal, see if you can get a friend to meet them instead.

DON’T leave your apartment a mess before the other person moves in. This is just common courtesy; you would expect the same if you moved into someone else’s place. Your belongings should be tucked away nicely, the dishes neatly in the cupboard—not the kitchen sink— and the bathroom The Bull & Bear - March 2013

should be spotless. A tidy place tells the subtenant what you expect when you come back.

DON’T show up to your place unannounced. Once the agreement has been signed, you are no longer paying the rent. If you need to grab something, have the courtesy to let the subtenant know ahead of time.

DON’T expect your subtenant to not use your stuff. They will be living in your home and they will use everyday essentials like dishes, utensils, and linens. Pack away anything that you do not want them to use. If that special coffee mug is what you need to get through midterms, hide it away safely.

If you do pack your dishes and sheets, just remember to let the person know that they need to bring their own.

Finally, you should try to make your advertisement as informative as possible. Generally speaking, having at least one clear picture with good lighting will increase the chance that someone will respond to your ad.

Common places where people put their ads are: McGill’s Off-Campus Housing online listings, McGill Classified Ads, Concordia’s OffCampus Housing Service, Craigslist, and Kijiji Classifieds.

If subletting seems too grueling for you, check out “Flatbook.” “Flatbook” is a McGill student start-up that takes care of the entire subletting process for you. For more information, visit: http://www.flatbook.ca/ Good luck with subletting this summer!

25

OPINION

The Case for

Open Online PHOTO VIA SHUTTERSTOCK

Education

Why McGill’s involvement with MOOCs should make us proud Laura Thistle

OPINION WRITER

T

he world is changing. Textbooks are being replaced by e-books, blackboards are being traded in for Smartboards, and overhead projectors are losing out to digital slides. Two of these three tools can currently be accessed online by students who are given the privilege to do so by their professors. But with the growing popularity of Massive Open Online Courses (MOOCs), this privilege is beginning to spread to a much larger population of students around the world. McGill recently announced its decision to join Harvard and MIT in offering online courses through the edX consortium, a non-profit MOOC enterprise offering free multi-discipline university-level courses.

McGill’s choice to join in the development of a changing education paradigm can only be beneficial – both for itself and for a global student population.

In the official press release announcing McGill’s decision to join the edX consortium, Provost Anthony Masi stated, “This [decision] will allow us to provide individuals from around the globe with access to worldclass educational experiences and will yield valuable insights to help educators better understand how they can leverage ITenabled technologies to enhance teaching and learning.” With the world becoming increasingly technology-dominated, the

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decision to cater to a digitally-oriented generation allows for widened access to, and quality of, education around the world. As the MOOC technology continues to grow and develop, more sophisticated online tools can be cultivated, thus improving different aspects of the world of digital education.

But how does McGill benefit from MOOCs, and why join now, when the phenomenon is still in its early stages?

Perhaps one of the most promising opportunities McGill has opened up is expanding its global exposure by offering a glimpse of McGill to the world. By joining as early members of the edX consortium, McGill has supported its reputation as a forward-thinking school on the cusp of innovation. McGill attracts an ambitious and promising student population, and by taking the initiative to seize this opportunity, the ongoing growth and development of MOOCs will only further enhance McGill’s image.

Untapped Reserves In the broader sense, an available and effective online education system can be seen as a valuable tool for creating a more widely employed generation. Many less industrialized countries are currently experiencing a dramatic youth bulge, having the potential to either be a valuable economic

resource, or a massive liability to stability and prosperity. At the African Union 2011 Summit held in Malabo, Equatorial Guinea, it was noted that high youth unemployment continues to be a growing and impending threat to stability in Africa. The high unemployment rates are largely due to limited access to valuable education in these areas, resulting in a stagnated employment bracket for ages 15 – 24, despite the age group’s growing size (as stated by Julius Agbor in Sub-Saharan Africa’s Youth Bulge).

The ongoing spread and development of MOOCs can open up huge educational opportunities to these youth, taking steps in the right direction to provide them with the tools necessary to become valuable members of society for the world and their communities.

The less industrialized world’s youth holds incredible untapped potential. In a few lucky cases, this potential has been seen and pursued by top educational institutes.

For example, in 2012, fifteen year-old Kelvin Doe, a self-taught engineer from Sierra Leone, became the youngest person to ever participate in MIT’s Visiting Practitioners’ Program. Doe spent his childhood searching through trash cans for metal scraps and putting them together to build batteries, generators, and other such tools. For

OPINION example, in Doe’s community, houses typically only have light for one day a month; Doe constructed a battery to provide more light to these houses. He came into view through his self-built radio station, on which he broadcasts under the name “DJ Focus.”

This incredible story is both inspiring and eye-opening. Doe reached out to his community and the world through his radio station. He found a way to use his natural engineering skills to work our technologydominated world to his advantage and make a positive difference in his community, despite the very limited resources. With the rapid growth of platforms like edX, it is obvious that MOOCs have the resources to offer educational services to a broader population in a widely accessible manner.

Just imagine the possibilities that could be opened up by developing a digital paradigm to reach out to these corners of the world where there are without a doubt many youth with just as much potential as Doe. Dropout Rates and Appetizing Tastes A common argument against MOOCs relates to the currently high drop-out rates associated with online education, leading to the logical question of whether MOOCs are really feasible. As with any new paradigm shift, MOOCs have a learning curve and are

at an early stage in their life cycle. As time goes on and as more MOOC student data become available, courses can be tailored to decrease these rates, such as greater studentprofessor interactions and incentives such as accreditations. Over the long run, the current drop-out rates serve as a barometer of long-term improvement in the quality and content of MOOCs, thus making them even more valuable.

There is one more positive effect of this decision, albeit somewhat counterintuitive.

If the trend of online education continues, are we, the paying student body, going to become obsolete? On the contrary, MOOCs will, in the long run, increase the desirability and prestige of a traditional in-class education. The growing ability to spread education to remote corners of the world is both exciting and revolutionary.

However, there is little comparable value to physical interaction and working with people of diverse backgrounds. If played right, McGill has the ability to provide a taste of its incredible variety and attract those with the most potential to attend.

As more people have access to McGill’s MOOC datasets, the prestige associated with earning a traditional spot will become proportionally attractive and competitive.

The students who are admitted to McGill as

paying students will strive to make the most of the campus community, interacting with other ambitious students and gaining life experiences that simply cannot be simulated through a computer screen.

Ultimately, McGill’s participation in the MOOC movement holds significant promise for current and future students around the world. As edX flourishes, the worldwide population of educated youth and young adults will as well. A more educated population, particularly in areas where valuable education resources are currently lacking, opens up considerable potential for socioeconomic improvement and development. Along these lines, McGill’s contributions to a growing digital education movement will solidify its name and reputation as an innovative and forwardthinking school, one which the best students from around the world strive to attend. As students at McGill, we should be extremely proud that our school has chosen to become a part of this opportunity. We already know the variety of academic programs McGill has to offer. Let’s give the world a taste of it too.

The views expressed in this opinion piece are the author’s own and do not necessarily represent those of The Bull & Bear.

PHOTOS VIA EDX.COM

The Bull & Bear - March 2013

27

OPINION

An Anglophone in Marois'’ Quebec The demonization of Quebec’s English-speaking minority Brendan Steven

I

CONTRIBUTOR

came to Montreal at age 17 for my first year as an undergraduate at McGill University. A mentor of mine once described this city as the most fascinating in Canada, the only major urban centre in the country where the two solitudes come together. Nowhere else outside of New Brunswick is bilingualism so common.

Everyday I hear as much English as I do French, giving Montreal a flavour all its own.

One evening I was walking home after a midterm. I had only lived in the city for a few weeks. As I stopped at a red light a car pulled up next to me. A woman in the passenger seat asked a question of me in French. I responded in the honest way: I told her I did not speak French. The light then turned green and she spat on me as the car pulled away.

This incident was a little jarring for a 17-year old. It never changed my affection for the Montreal francophone community, but it was my first experience with language discrimination.

I am an Ontarian by birth from a province where English is everywhere.

I knew there were sensitivities surrounding French which were to be respected in Québec but I never thought I would be spat on for speaking my native tongue.

The era of the FLQ is well and done but tensions between Québec’s anglophones and francophones are once again bubbling to the fore. PQ Premier Pauline Marois spent the last provincial election securing her nationalist base by attacking this province’s anglophone minority. She said it was unacceptable for Montreal businesses to address their customers in English. As Premier she promised to

28

“deplore and denounce” this mythical injustice. She ranted and raved about the threat of an imagined and presumably corrupting tidal wave of English being spoken in the streets of Montreal.

The Premier, it would seem, does not like anglophones or their language.

Her ability to mythologize a threat to the Québecois nation from so small and so passive a minority is shocking.

Sadly, the Premier does not stand alone in her anti-anglo attitudes. A video posted on February 14th shows a woman screaming at Montreal subway passengers for daring to speak to her in English. An ambulance technician in Hudson refused to offer care in English. Last year a young woman was denied entry onto a bus for speaking English. The list of antianglo incidents (some official, some personal) has become long. Though they are isolated incidents which do not reflect Québec as a whole they represent a disconcerting trend of language bigotry which needs to be addressed.

Québec’s anglophones are not interested in anglicizing Québec. We are not language evangelizers. What we are interested in is living quietly alongside the francophone majority.

We do not want to experience official or unofficial abuse for demographic trends outside of our control.

Yet to nationalists, demography makes us a growing threat: Englishspeaking immigrants are pouring into Montreal while French-speaking residents are moving to suburbs off the island. Montreal is slated to become a much more English city within the next several years, a reality which is unacceptable to a not insignificant number of Québecois.

In the midst of this anti-anglo fervour comes Bill 14, Premier Marois’ expansion of the province’s infamous Bill 101 language law. Bill 14 will remove bilingual status from townships with an English population of less than 50%, threatening bilingual services in several Eastern Townships with sizeable minority English populations. Small businesses with over 26 employees will now be required to conduct their day-to-day operations in French where once that number was 50. The Bill will further restrict access to English language schools. All of this points to an aggressive nationalist ideology that hangs like the sword of Damocles over anglophones.

Bill 14 represents a return to divisive language politics that no English-speaking Québec resident wants. Protection of the French language should be paramount, but Premier Marois has gone further: she is demonizing an innocent minority whose only crimes were being born into English families under a government which is adamantly opposed to the use of the English language.

Premier Marois needs to see that Québec anglophones want to collaborate with their francophone counterparts and participate in government equally. We want to see the French language flourish while the government respects our right to use our own language.

The demonization needs to stop.

There is simply no need for it.

The views expressed in this opinion piece are the author’s own and do not necessarily represent those of The Bull & Bear.

This article was originally published by the National Citizens Coalition.

OPINION

The Canadian Senate: Relaxation Without Representation Dire reform is needed for public accountability Ameya Pendse

OPINION WRITER

P

atrick Brazeau is in the news once again, but this time it isn’t because he lost a charity boxing match. Brazeau, a Canadian senator, has gotten himself into the limelight by recently getting arrested on charges of assault and sexual assault. However, while Brazeau got expelled from the Conservative caucus, he appallingly

PHOTO VIA FLICKR: JOHNATH

in hot water for shadowy finances, misusing public funds, embezzlement, and extremely low attendance records.

The real issue however, lies with the Canadian Senate at large. For years, the Senate as an institution has been under scrutiny, with parties and groups calling for its outright abolition or major reforms to its

Our generation looks for instant gratification, and that is one of the greatest obstacles in our way to career success remains a payrolled senator. It’s disgraceful that, while Brazeau has been barred from attending the Senate until the end of his trial, he is expected to come to the chamber only once a session – if only so he can keep getting paid.

Other senators have also been The Bull & Bear - March 2013

selection method. Ultimately, while the Senate is an important institution with an important role, I too would rather see it abolished outright unless the selection method is reformed from its tax-wasting status.

Currently, the Senate lacks legitimacy in the public eye. Being

labeled as an “Old Boys Club” of political parties, it cannot fulfill its true role with a selection process dating back to feudal times. Currently, senators are appointed by the Governor General of Canada on the advice of the Prime Minister and, once appointed, can stay on as a Senator until the postretirement age of seventy-five. The current scandals encompassing the Chamber demonstrate that the money we spend in our taxes can be used far more effectively. Given this low level of public accountability, the chamber is currently a waste of taxpayer funds that can be used to support other institutions in need of funding.

To understand Senate reform, one must understand the structure of the Canadian Parliament. Parliament is broken down into the representative terms of: the Monarch (the King/ Queen), the Aristocracy (the Senate) and the Commons (the House of Commons). The Confederate debates exhibit that the Senate’s original purpose was to be similar in principle to the British House of Lords, a Chamber higher than the House of

29

OPINION Commons whose purpose was to protect the wealthy in each region.

Its purpose has since changed to edit legislation from the House of Commons and provide final approval for proposed bills. This “chamber of sober second thought,” as it is has often been called, has modernized in its role but has remained feudal in its selection. The criticism began recently when the Canadian Senate started to block bills coming from the House of Commons, stating, rightly so, that it is wrong for an unelected institution to block or rubberstamp legislation coming out of an elected body.

Reforming the Senate is not easy; there are a variety of conflicting opinions concerning the most effective course of action. It would require a formal constitutional amendment, a messy process that would involve other partisan agendas, interest groups, and provincial bickering. So the problem arises of how to reform the Senate, an institution that many Canadians have lost faith in.

The current government’s approach is the most reasonable reform. The Harper Government has

PHOTO VIA FLICKR: MICA_R

Governor General would still appoint members to the Senate based on the Prime Minister’s recommendation, but that recommendation would be based on a public election rather than politically biased staff.

The Senate is an undemocratic political institution that is in turn, unaccountable to the people of Canada. proposed to conduct consultative elections while having senators serve 8-year terms rather than being safe in the Red Chamber until they are 75. However, critics charge that a constitutional amendment must be made before considering the new proposal. While this would be a matter for the courts to decide on, this is an approach we should support. Rather than consulting partisan staff in the Prime Minister’s Office, the Prime Minister must consult the public before making an appointment. After all, we are the ones paying for the Senate. The constitutional process would remain virtually unchanged; the

30

Those who support the status quo claim that an elected Senate may make it more powerful than the House of Commons. However, they forget that it is the Prime Minister that yields the power. Members of Parliament are subject to party line loyalties rather than being independent, something acknowledged by many, including University of Toronto Professor Peter Russell in his book, The Evolution of Canadian Parliamentary Democracy.

An elected and independent Senate may serve an institutional check on the Prime Minister and may even constrain the office’s abundance of power. Finally, those who support the

current system claim that elections would only politicize the Senate, but fail to realize that the Senate is already politicized enough with former Members of Parliament and previous party presidents now serving as senators. Of the 104 Senate members (one seat is currently vacant), 101 of them are openly affiliated with a political party.

The Senate is an undemocratic political institution that is in turn, unaccountable to the people of Canada. For the Senate to have any relevance in our eyes it must first acquire legitimacy. Its selection method must be reformed to what the current government is proposing.

Consultative elections will give the people a say on who they would like to see in the Senate without going through a messy constitutional accord.

Patrick Brazeau’s case proves that senators are virtually untouchable from the time they are appointed to the age of seventy-five. Since the Senate’s role has transformed from its feudal purposes, it is about time that its selection method modernize as well.

The views expressed in this opinion piece are the author’s own and do not necessarily represent those of The Bull & Bear.

OPINION

Hot Not orr

Our guide to your next opinionated conversation Vidal Wu

STAFF WRITER

Osheaga Line-up

Course Registration

The Cure, New Order, Mumford & Sons, Azealia Banks. Down like Donkey Kong.

Can you feeeeeel your blood pressure rising?

SSMU Elections

McGill Problems (on Facebook)

Your SSMU candidates are hitting the pavement this week, and it’s your responsibility to get informed (and not go with whoever you saw the most posters of ).

Voting is open between March 15 and March 22.

How could something as decidedly low caliber as this page possibly be associated to our clever, jaded populace? Basic b*tches we are not

St. Patrick’s Day

Azealia Banks

Which obviously means Gerts ‘till it hurts/pukes green/passes out.

Are we or are we not #over her nonsensical beef with everyone? Yung Rapunxel was a let down, and she was caught on Instagram skipping out on a show to go to dinner.

Carly Rae Jepsen

Harlem Shake

She gave the Boy Scouts of America a big ‘ole middle finger when asked to perform for them because of their anti-gay policies.

It is done, we are done, and Baauer is done. Stop ruining everything, mainstream.

SSMU Building Lease Negotiations

Suzanne Fortier

Three years into negotiations, SSMU is trying to drag the Admin out of hiding, with almost no success, but kudos to them for trying?

Our new Principal is going to inherit quite the legacy. Here’s to being cautiously optimistic.

CHECK US OUT ONLINE TO STAY UP-TO-DATE WITH THE LATEST NEWS AND EVENTS! @MUSBullandBear

The Bull & Bear - March 2013

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