Halfway Day

The Oxford school year consists of three terms, and each term is eight weeks long. Last week was the fourth week of the second term, so that made Friday was "halfway day"! To celebrate, we went to Far from the Maddening Crowd (a pub) with some of my MLF classmates.

I am not sure why Anurag decided to stack glasses, but the pub staff was not impressed.

Also, when we woke up this morning, we saw something we have not seen much of lately...

Sunshine!  Glorious sunshine!

To take advantage of the great weather, we walked over to South Park. South Park is the largest park in Oxford and the top of its hill gives a view of the city and the "dreaming spires" of Oxford.

Also, I think I found out why basketball has yet to catch on in this country:

Seriously?  You couldn't even practice free throws on this.

Seminars

Sorry for the lack of posts lately, but this term is turning out to be way more intense than I expected. As I mentioned, my classes last term consisted mostly of lectures. However, this term I have two seminars every week. A "seminar" is different than a "lecture" in that seminars are student discussions led by panel of faculty members.

Each seminar is usually two hours long, and focuses on a particular topic of the course which has been covered in a previous lecture.  Each seminar topic has a list of discussion questions that are assigned at the beginning of the term, along with a list of readings that are to be read before seminar.  If you are like me, you would probably expect a "reading list" to consist of a textbook chapter and maybe an article or two. WRONG.  The "required" readings for each seminar consist of numerous, lengthy articles. totalling, on average, about 400 pages. Since there are no textbooks for our classes, each article has to be independently found (usually at the Law Library).  On top of that, there are usually about 600 pages of "optional" readings (in case you do not have anything better to do). Here are a few of the 18 required readings from my seminar in my Principles of Financial Regulation course last week:

• Z Goshen and G Parchomovsky, ‘The Essential Role of Securities Regulation’ (2006) 55 Duke Law Journal 711 (44 pages)

• RC Clark, ‘The Soundness of Financial Intermediaries’ (1976) 86 Yale LJ 1 (103 pages)

• S Peltzman, ‘The Economic Theory of Regulation after a Decade of Deregulation’ (1989) Brookings Papers on Economic Activity: Microeconomics 1 (60 pages)

• S Johnson and J Kwak, 13 Bankers (2010), Ch. 5 (51 pages)

In connection with these readings, we were given a list of 27 questions to be discussed during the seminar (I will not bore you with the entire list, but here are a couple of examples):

• How can financial market regulation assist in promoting the informational efficiency of financial markets if investors are rational?

• What is “systemic risk”? How can it be measured? Do all financial institutions contribute to systemic risk? How are we to identify those that do?

• What effects, if any, does an increase (i) of competition between financial institutions and (ii) in the rate of financial innovation have on financial market efficiency, on consumers, and on financial stability?

• “Parties governed by financial regulation will always have far more wealth at their disposal than do those responsible for designing and enforcing the regulation. This creates a sort of gravitational pull towards the interests of the regulated, resulting at best in ineffective regulators with low-quality staff, and at worst in the total capture of regulation by the regulated.”  Discuss.

• What is “regulatory competition”?  In the context of financial regulation, is it (i) feasible; (ii) desirable?

As if the questions themselves are not imposing enough, we are expected to be prepared to discuss them with members of the law faculty (and it is often the case that they are the authors of several of the articles). On average, I would guess that the faculty speaks for about 15% of time in the seminar (mainly to ask questions) and the students talk for the other 85%. Although no one is technically "assigned" to any specific question, if no one is speaking the faculty will call on individual students and question them directly.

One of the best things about seminars is getting to see the various colleges that they are held in.  This is one of the quads at Jesus College, where my Principles of Financial Regulation seminar is held.

The view from the seminar room about 5 minutes before it starts.  The faculty sits at the front, and the students sit around the table.

Although this post probably makes seminars sound burdensome and dreadful, they are actually a fascinating experience.  The opportunity to engage with some of the world's leading academics is truly unique.  Additionally, the learning process is amplified through the process of reading, preparing, and discussing these topics.

A Jolly Fox

As we were enjoying a lazy Sunday afternoon, Leah looked out the window and expected to see this...

Our typical view of golfers on the green

However, when she looked down at the roofs of the garages behind our flat she saw this...

A red fox!

We have seen foxes on the golf course before, but never this close. After watching him sleep for a while, we knocked on our window and tried to wake him up.

He was a little hard to wake up...and then he yawned and just looked at us as if to say,"why did you wake me up?"

If only Oliver was here, it would be a real life fox and hound!

See you later!

Christmas Continues

I know what you're thinking....Christmas is over!  Oh, but isn't it Christmas in your heart all year long?...it is in mine!  I received a Christmas present yesterday that came as quite a surprise.  As I walked into school, the secretary said that she had something for me.  Now, I'm still learning the ins and outs of a private school, so I didn't understand as she told me that I would be receiving extra money in my paycheck this month.  You see, I have yet to receive a paycheck since I've started working at the school in November because of dreadful English paperwork, so I just assumed she meant that all the money I had earned since then would be in this months paycheck.  She then handed me a slip of paper explaining that an anonymous donor had given me an extra sum of money as a "Christmas thank you for my contribution to the school".  I know I had quite a confused look on my face so she explained that a parent had given an anonymous donation.  I was floored...this is something that just doesn't happen in the public school world in the USA!  I mean I've gotten some wonderful gift cards at Christmas but never just cash...and let's me honest, never have we needed it more!  I was so grateful for the giving spirit of an anonymous donor!

Speaking of Christmas, I came across some pictures that I wanted to share.  I helped to organize a Christmas Baking Party for the Newcomer's Club.  Although many cultures revel in the joys of baking, licking bowls and eating the goodness that's been pulled from the oven, there are some cultures that do not have baking as a part of their regular kitchen activities.  It was so fun to watch them create their own creations for the first time.

Putting together gingerbread houses is a fine art.

Making gingerbread men

My friend Katherine and me posing while our cookies bake.

Baking is fun!  Look at those smiles!

Showing off my mad decorating skills!

Most of the group with our finished products.

We then packaged up the goodies and sold them at our Newcomer's Christmas Coffee.  Half of the proceeds went back to the club while the other half benefited a local charity.

Merry Christmas!...last time until December 2011...I promise!

Visitors, London, and a Plane to Spain (in the rain)

The past couple of weeks have been a blur.  After my mom left, we were visited by the Rossers...Wynn, Manda, Aubrey and Cotton.  I think we all had our doubts as to whether the six of us could cram ourselves into our little flat, but it worked perfectly.  I am convinced that Wynn and Manda are the only two parents in the world with enough organization and structure to pull it off, and we had a blast showing them around Oxford.

Aubrey was ready to have some fun after the long plane ride

Cotton (a.k.a. Mailman) had no problem making himself right at home in our luxurious furniture

Unfortunately, many of the sights in Oxford were closed during their visit due to the University break and New Year holiday.  However, we managed to visit a couple of museums, attend evensong at Christ Church and find a couple of fun parks.

Aubrey at the Ashmolean Museum

Manda and Cotton at the Oxford Museum of Natural History

Leah even found time to make a new friend!

Family photo at the park near our flat

Cotton had a long day

After a couple of days in Oxford, we all headed to London to take in the big city.  This was a great chance for Leah and me to see some of the sights that we had missed in our previous trips.  After four months in our flat the highlight was definitely the big, comfortable bed courtesy of the London Hilton Park Lane!

The changing of the guard at Buckingham Palace

While the kiddos napped, Wynn and I checked out the Churchill Museum and Cabinet War Rooms

Our Beefeater tour guide at the Tower of London

I think the highlight of Cotton's trip was when he fed me his leftovers

Aubrey (with her official Royal crown) and Flat Stanley

After the Rossers headed back to Texas, Leah and I took an impulsive trip to Spain to meet up with the Andersons for three nights and get away from the English weather (or so we thought).  Jordan and Katie are some great friends we have made here in Oxford.  They are both Auburn grads and, just for the record, I am not at ALL jealous of their recent Alma mater's football success.  Really, I mean it, I am not jealous one single bit.

We stayed two nights in Seville and then headed down to the Costa del Sol for one night in Marbella.  Upon our arrival, we discovered that our trip was perfectly timed around the traditional Spanish celebration of Epiphany (or Three King's Day).  As a result, all of the sights in Seville were closed on our first day there.  As one staff member at the cathedral told Leah, "this is probably the worst day of the year to visit Spain."  However, we made the best of it and had a blast with Jordan and Katie.  Basically, we just walked around the empty streets, laughed, ate (mostly ham), and took in the local flavor.

I think these were the only other people out in the entire city of Seville

Orange trees were everywhere!

The Harrells and the Andersons

Flat Stanley at the Christopher Columbus monument

In our exploration of Seville, we stumbled upon the Plaza de España (which, according to Jordan, was probably just some type of "municipal building").  To be honest, I still have no idea what it was but the tiled mosaics were awesome.

Did I mention we ate a lot of ham?

Our whole purpose of heading to Spain was to enjoy some sun on the Costa del Sol.  However, it rained the entire day we were there.  Our "day at the beach" ended up consisting of (1) running to the beach in the rain and taking the photo below, (2) eating a hamburger with some local fisherman at the "snack shack", and (3) napping and playing cards in our five star accommodations (which was also empty).  Regardless of the weather we still had a great time with our great friends from Auburn (who, by the way, I am not jealous of).

Costa del No Sol (with Leah mustering the best smile she can in the rain)

Antiquing

Although I'm not a huge antique hunter, I'm always up for a car ride in the English countryside!  Earlier this month I joined a group from the Newcomer's Club on a day trip to Lechlade, a small town on the edge of the Cotswolds.  It was a super foggy English morning so we didn't see much past the hood of the car on the drive from Oxford.  Thankfully, the fog was gone just in time for our journey home.  The green rolling hills and meadows between the villages are absolutely beautiful!

Church steeple peaking through the fog.

I just love the bicycles....I'm thinking about hanging some on the side of our next home.  I'm sure that would make the neighbors happy.

Although most of the prices were way beyond our no income budget, I enjoyed browsing!  It is amazing to compare the things we label "antiques" in the States to what they call antiques here.  In their eyes, our "antiques" are brand new!

Mom, I was going to buy you this entire set for your birthday, but then realized I couldn't even afford a saucer.  So I hope you enjoy this picture!

Looking back at my pictures, it looks like I just focused my eyes on the small sparkly things.  Hmm, Jared might be onto something when he often reminds me that I'm distracted my shiny objects...oh well!

I guess this next shop heard I was dropping by that day because they made a display just for me.  Check it out....do you see my sculpture and a sketch of Oliver?  What can I say, we're famous!

My sweet friend, Claire, and me

The shop's mascot...he was the only thing I really wanted to take home that day!

A Merry Little Christmas

As you know we had a pleasant change to our Christmas plans, as the weather problems forced my mom to extend her stay until the 26th. Although no one wants their travel plans to be disrupted, we were selfishly glad to have family here on Christmas day. Although we tried to prepare for it, I think it might have been a little depressing for Leah and I to spend Christmas alone in our tiny flat!

We attended the Christmas morning service at the University Church of St. Mary the Virgin. This church dates back to 1086 and, in the early days of Oxford, the church was adopted as the first building of the university. The church has had many uses over history, including serving as a lecture hall, the seat of university governance, and as the site of the 1555 trial of the Oxford Martyrs during the English Reformation.

University Church of St. Mary the Virgin

Me and Mom outside of the church on High Street

The inside of the church decorated for Christmas

After church, we had a fabulous lunch at Strada, a local restaurant. We originally considered having a traditional Christmas meal at a pub, but instead of spending £50 on duck liver pate and black pudding, we opted for Italian. We all agreed that it was a great choice!

Our table setting, complete with a Christmas cracker for each of us

After this appetizer of cheeses, meats, and olives, Italian food may be the new Harrell family Christmas tradition

We wish you a Merry Christmas and a Happy New Year!