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<strong>Realtime</strong> – A system requirement that a program respond within a small amount of time, typically mili- or microseconds. In jargon, refers to doing something while someone is waiting or watching. The MDHE' s web loan delivery product, MODEL Direct, is a realtime product providing data directly from the MDHE' s FFEL Program database. Change transactions are also sent and posted realtime via MODEL Direct. The MDHE' s FAMOUS system is also a realtime product for administering the state grant and scholarship programs.
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Black-Scholes option pricing model (D4, G1)<br />A formula for calculating the value of a call or put EUROPEAN OPTION. This form of pricing takes into account the stock price, exercise price, risk-free interest rate, time to expiry and the standard deviation of the stock return.<br /> <br /><em>Reference</em><br />Black, F. and Scholes. M. (1972) 'The Valuation of Option Pricing Contracts and a Test of Market Efficiency', Journal of Financial Economics 27: 339-418.<br /> - (1973) 'The pricing of options and corporate liabilities', Journal of Political Economy 81: 637-57.
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<strong>Higher Education Act of 1965 (HEA)</strong> – The Act which created the federal student aid programs.
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rents and laid the foundations for classical price theory. Much of their work had been more clearly set out by CANTILLON. But the high praise accorded to them by SMITH and MARX ensures that they will never be forgotten.<br /><em>Reference</em><br />Meek, R.L. (1962) The Economics of Physiocracy: Essays and Translations, London: Allen & Unwin.
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