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By Dirk Mateer, Lee Coppock. 2019
Helping you explain a different world Students and instructors are living through a pandemic that has changed how and what…they teach, and how and where they learn. The COVID-19 Update of Principles of Economics, Third Edition, provides the information that students need to make sense of the impacts COVID-19 has had on the economy. The Update Edition has been completely revised to include new examples, new data, new policies, and more. All of Norton’s digital resources fully integrate with most learning management systems, providing the flexibility instructors need in this changed world. This purchase offers access to the digital ebook only.
Advances in digital technology have driven large decreases in the costs of data transfer and telecommunications. There is a consequent…increase in many kinds of international trade. One of the fastest-growing parts of this industry is "remote maintenance" whereby Indian companies debug software for companies in other parts of the world, often taking advantage of time zone differences to offer overnight service. In the existing literature on trade theory, however, relatively few attempts have been made to address the theme of communications networks and the role of time zones. The main purpose of this book is to illustrate, with simple models of international trade, how the introduction of communications networks and the utilization of time zone differences can affect both the structure of international trade and world welfare. Other technological aspects of recent international trade (e.g., competition between international standards, the impact of switching costs on imported products’ introduction) are also examined. Although a focus on theoretical trade models, the book will appeal to scholars, policy makers and business units who wish to learn from the recent changes in communications networks and its impact on the global economy. It provides information and suggestions for better policy formulation in the fast-changing world economy.
By Robert Peston. 2008
'A compelling portrait of early 21st century casino capitalism ... essential reading.' - The Times On 13 September 2007, Robert…Peston broke the news that Northern Rock had become a victim of the global credit crunch and was seeking an emergency loan from the Bank of England. It was the latest in a long line of scoops by this award-winning journalist. Over the weeks that followed, the Government found itself exposed to the Rock to the tune of 57 billion, or almost £2000 for every taxpayer.As Robert Peston shows in his fascinating new book, the seeds for the collapse of Northern Rock and the upheavals in the financial markets were sown years before.Who Runs Britain? is the first time anyone has drawn all the threads together to weave a story that's rich in extraordinary characters and outrageous feats of economic bravado. This book is about the widening gap between the super-rich and the rest of us. It explores and explodes the myth that the financial creativity of those who are amassing these vast fortunes is good for the wider economy and for all of us. Whether you're a financial expert or just have a bank account, Who Runs Britain? is a book you must read.
By Will King. 2010
HOW TO BUILD A GREAT BUSINESS IN TOUGH TIMES is the inspiring entrepreneurial from-the-kitchen-table-to-supermarket-shelf story.Entrepreneur Will King hand-filled the first…10,000 bottles of his original King of Shaves (KoS) shaving oil at his kitchen sink, even getting his ironing lady to pitch in! From such humble beginnings, King of Shaves has grown to become a multi-million pound business. In 2008 a KoS product was sold every 3 seconds. Will explains how to keep the faith and follow your business dream even when the odds are heavily stacked against you.
By Sir Ronald Cohen. 2007
'One of the best books written on entrepreneurship in recent years' FINANCIAL TIMES In business, everyone can see the first…bounce of the ball. It is the second bounce that is uncertain. Ronald Cohen, one of the world's leading private-equity investors, argues that the entrepreneur's aim is to take advantage of that uncertainty: for it is only in situations of uncertainty that significant gains can be made. Putting it another way, successful entrepreneurs know how to turn risk into opportunity.The book is essential reading for entrepreneurs, wannabe entrepreneurs and all those who want to apply entrepreneurial approaches in all walks of life. It provides relevant background on the development of entrepreneurship and of the venture-capital and private-equity industry through the prism of Cohen's experience at Apax. It provides guidance about how to take advantage of business opportunity: the right people and the right money and the roles played by personality and luck and underlines the importance of ethics.
By Duncan Bannatyne. 2009
The Sunday Times bestselling author and star of Dragon's Den, Duncan Bannatyne, explains how to take control of your finances…and get more from your money.Today's turmoil and uncertainty in the financial markets illustrates how important it is to be in control of your own money. How To Be Smart With Your Money addresses the core fundamentals of financial literacy, telling readers how banks work and why city traders earn such enormous bonuses. It will help you to plot a path out of debt and develop financial confidence so you feel in charge of your finances.Duncan Bannatyne knows the true value of money: now worth £320 million, he was born into extreme post-war poverty. Taking each area of our financial lives in turn - earning, spending, borrowing, investing, saving, budgeting and the wider economy - he helps us understand where we are in our own financial cycle and how to achieve financial security for good.Duncan Bannatyne is the former stoker in the navy who built up his own business empire, worth over £320 million and is a star of the TV series Dragon's Den. His first book, Anyone Can Do it, was a Sunday Times bestseller in hardback and paperback.
By Duncan Bannatyne. 2007
At 30, Duncan Bannatyne had no money and was enjoying life on the beaches of Jersey. He saw a story…of someone who had made himself a millionaire, and decided to do the same. Five years later he had done it, and now he is worth £168 million.In this remarkable book, Bannatyne relives his colourful path to riches, from ice cream salesman to multi-millionaire, explaining how anyone could take the same route as he did - if they really want to. Hugely articulate, and with numerous fascinating and revealing stories to tell, this is an autobiography and a business book unlike any other - but then Bannatyne isn't like any other businessman, either.
By Tim Clissold. 2006
The incredible story of a Wall Street banker who went to China with $400,000,000 and learned the hard way how…(not) to do business there . . . In the early nineties, China finally opened for business and Wall Street wanted in on the act. When the investment bankers arrived from New York with their Harvard MBAs, pinstripes and tasselled loafers, ready to negotiate with the Old Cadres, the stage was set for collision. This is the true story of a tough Wall Street banker who came to China looking for glory. He teamed up with an ex-Red Guard and a Mandarin-speaking Englishman. Together, they raised over $400,000,000 and bought up factories all over China. Only as they watched those millions slide towards the abyss did they start to understand that China really doesn't play by anyone else's rules. Tim Clissold was there at the beginning of China's transformation and he's still there, doing business. In this new edition of his hugely successful book he describes just how much - and how little - has changed in China since his story began.
By Edmund Conway. 2009
What exactly is a credit crunch? Why do footballers earn so much more than the rest of us? Which country…is likely to be the world's leading economy in 10 years' time? And how does economics affect each one of us, every day? In the seventh volume of the successful 50 Ideas series, Daily Telegraph economics editor Edmund Conway introduces and explains the central ideas of economics in a series of 50 clear and concise essays. Beginning with an exploration of the basic theories, such as Adam Smith's 'invisible hand', and concluding with the latest research into the links between wealth and happiness, he sheds light on all the essential topics needed to understand booms and busts, bulls and bears, and the way the world really works. Packed with real-life examples and quotations from key thinkers, 50 Economics Ideas provides a fascinating overview of how economics influences every aspect of our lives, from buying a house to what we had for breakfast this morning.
By Adam LeBor. 2009
How America fell for financier Bernie Madoff's $65 billion investment scam.It was luxurious Palm Beach, by the manicured lawns and…Olympic-sized swimming pool, that financier Bernard Madoff ravaged the world of philanthropy and high society he had strived so hard to join, vaporising the assets of charities, foundations and individuals that had trusted him with their funds. It seems nothing was sacrosanct to Madoff, possibly the greatest con-man in history. Even Elie Wiesel's foundation has lost tens of millions. How could Madoff, a pillar of the Jewish community, do this to a Nobel Laureate and Auschwitz survivor? But Wiesel was hardly alone in trusting the rogue financier. How could some of the most sophisticated and worldly people in America fall victim to a collective delusion for year after year? THE BELIEVERS answers these unsettling questions. It opens up the clubbish world where Madoff operated, tracing the links from Palm Beach and The Hamptons to the salons and clubs of Manhattan society. It details the network of relationships across which flows hundreds of millions of dollars. 'The Believers' shows how despite material success and acclaim, some human impulses remain eternal. It reveals how an underlying sense of insecurity still shapes some of the richest and most successful individuals in America, making them crave ever more status and peer acclaim. By focusing on Madoff's connection to, and catastrophic impact on, the American Jewish community, THE BELIEVERS dramatically humanises a story that is part financial scandal and part Greek tragedy.
This book combines demand-led growth models and the institutionalist approach, in order to explain the macroeconomic performance of the main…European countries in recent years followed by which a coherent explanation of the institutional change since the Great Recession, including the economic policy response to the economic and financial crisis (2008) and to the debt crisis (2010) is provided. A "Comparative Political Economy" (CPE) analytical framework and provide an institutional base to the different European growth models is built, in general terms over the period 1995-2018. The results allow us to link diverse growth dynamics to the changes of the institutional framework as a consequence of the economic and financial crises. In each chapter for country case studies (France, Germany, Italy, Spain, Greece, Sweden, UK and Poland) there;’s an ntroduction with a general characterization of the country and the most relevant changes that have occurred subsequently (main legislative milestones or changes in the behaviour of social agents) especially the process of dualization or deregulation of European economies. In addition, an analysis of the macroeconomic evolution and the situation of the labour market before and after the crisis from a demand-side perspective is included, concluding with the linkages between both issues and the characterization of the growth model. This book is of special interest to all the students and university professors who will use this book to be able to follow a multitude of subjects from Applied Economy to International Economic Structure but can also be useful for researchers, doctoral students and teaching staff who want to expand knowledge in the fields of comparative political economy, institutions and the European Union. In general, this book is aimed at anyone interested in expanding their knowledge of the evolution of Europe today.
This book elaborates on how Norway has managed to convert a large fraction of its endowment of hydrocarbons below the…seabed of Norwegian waters into financial wealth, invested in the world’s capital markets. Further, it explains how this wealth is managed. Under the current guidelines, only the assessed return on investment may be allotted to public budgets. This ensures that the wealth will benefit both current and future generations. The capital is gathered in the Sovereign Wealth Fund – or State Pension Fund Global (SPF-G) –, which is intended to maximize capital value without exceeding acceptable risks. The book offers new insights into the history and management of the fund, examines its successes,and discusses future challenges. Given its scope, it appeals to scholars of economics, finance and political science, and to anyone interested in the sustainable investment of natural resource-based revenues.
This book focuses on the impact and effectiveness of foreign aid or official development assistance (ODA) from several aspects, as…in the exemplary case of Thailand—factors that are important for formulating growth and fiscal policies to use foreign aid efficiently. Specifically, the book is devoted to analyzing the belief among aid practitioners that foreign aid, aimed mainly at wider access to social infrastructure, is one of the important elements for increasing living standards. Thailand has attained economic growth and poverty reduction while it has been receiving foreign aid for more than 50 years, with Japan providing one of the major portions of that aid. However, there is no established theory in the field of economics and related disciplines about whether foreign aid helps developing countries to improve the livelihoods of the poor. According to the analysis advocated in this book, foreign aid to Thailand contributes to economic growth. Moreover, the Thai government generally has governed foreign aid well and maintained sound management of finance primarily by reducing domestic borrowing as an alternative to foreign aid. The book shows that a kind of inter-dependent strategic relation has been established and managed well among aid agencies. These results, introduced by long-term data, are consistent with widely accepted ideas, while the effect of foreign aid itself is still under discussion. This book is intended to answer the needs of aid donors and policymakers as well as researchers and Ph.D. students. In addition, it suggests that other developing countries following similar policies should look to evidence from Thailand to reinforce their own cases.
This book investigates why economics makes less visible progress over time than scientific fields with a strong practical component, where…interactions with physical technologies play a key role. The thesis of the book is that the main impediment to progress in economics is "false feedback", which it defines as the false result of an empirical study, such as empirical evidence produced by a statistical model that violates some of its assumptions. In contrast to scientific fields that work with physical technologies, false feedback is hard to recognize in economics. Economists thus have difficulties knowing where they stand in their inquiries, and false feedback will regularly lead them in the wrong directions. The book searches for the reasons behind the emergence of false feedback. It thereby contributes to a wider discussion in the field of metascience about the practices of researchers when pursuing their daily business. The book thus offers a case study of metascience for the field of empirical economics. The main strength of the book are the numerous smaller insights it provides throughout. The book delves into deep discussions of various theoretical issues, which it illustrates by many applied examples and a wide array of references, especially to philosophy of science. The book puts flesh on complicated and often abstract subjects, particularly when it comes to controversial topics such as p-hacking. The reader gains an understanding of the main challenges present in empirical economic research and also the possible solutions. The main audience of the book are all applied researchers working with data and, in particular, those who have found certain aspects of their research practice problematic.
By Takashi Hayashi. 2021
This textbook covers microeconomic theory at the level of intermediate and advanced undergraduates. It is also intended as an introduction…for those with other intellectual and academic backgrounds who may not necessarily agree with “mainstream” economists but at least are interested knowing how they think and see things.The book provides thorough explanations of definitions and assumptions that the theory is based upon. It provides comprehensive accounts of motivations and reservations behind the theory. As well, it precisely presents the logical process of how the assumptions lead to the conclusion, conveying the intuition and the key of the arguments. An abundance of topics is included here: individual choice, general equilibrium, partial equilibrium, game theory, imperfect competition, transaction under incomplete information, market failures, welfare economics, social choice and mechanism design. The book is a valuable resource for any reader studying or simply interested in microeconomic theory.
This book is an in-depth study of how to promote integrity and avoid fraud & corruption in the work of…international organisations, in particular multilateral development banks, such as the European Investment Bank, World Bank, Asian/Inter-American/African Development Banks and European Bank for Reconstruction and Development. A number of issues are reviewed, including procurement, compliance, corporate governance, business ethics, anti money laundering and a number of relevant case studies highlighted. In addition, effective methods and tools of prevention, proactive monitoring and detection are reviewed and, if misconduct is identified, sanctioning the perpetrators of such misconduct is discussed.
By Fritz Söllner. 2015
"Die Geschichte des ökonomischen Denkens" gibt einen umfassenden und dennoch detaillierten Überblick über die Entwicklung der ökonomischen Theorie. Die Gesamtschau…zeigt wichtige Zusammenhänge und Unterschiede zwischen den verschiedenen Denkrichtungen auf und erleichtert so deren Verständnis. Den Schwerpunkt bildet die Darstellung von Vorklassik, Klassik und Neoklassik. Neben dem "mainstream" geht das Buch ferner auf konkurrierende Schulen und auf neuere Entwicklungen ein.Nachdem die 3. Auflage umfassend überarbeitet und um Abschnitte zur experimentellen Ökonomie, Mikroökonometrie, sowie zur Neuen Außenhandelstheorie und Neuen Wirtschaftsgeographie erweitert wurde, liegt die 4. Auflage nun in einer korrigierten Version vor.
This contributed volume collects talks originally given at the 18th International Symposium on Dynamic Games and Applications, held in Grenoble,…France from July 9-12, 2018. Chapters present state-of-the-art research in the field of dynamic games and are written by leading experts in this active area. Featuring a broad overview of recent advances as well as a wide range of applications, this book is organized into four sections: games of conflict, evolutionary games, economic games, and games involving common interest. Within these sections, specific topics covered include:Pursuit-evasion gamesPartnership formation gamesReplicator dynamicsLoad balancing congestion gamesEquilibrium coalition structuresAdvances in Dynamic Games will be of particular interest to researchers and doctoral students studying game theory.
By Frederick Lewis Allen. 1949
A revealing biography of J. P. Morgan, one of the most powerful and enigmatic financiers in history, from bestselling author…Frederick Lewis Allen. Celebrated as a titan of industry by some and decried as a monopolizing robber baron by others, John Pierpont Morgan was without a doubt a dominant player in American finance at the turn of the twentieth century. He founded U.S. Steel, a conglomeration of leading steel and iron producers, which was the nation's largest coast-to-coast railroad system, and the first company to be worth more than $1 billion. Morgan was also instrumental in developing the Federal Reserve after working with political leaders to prevent a potentially devastating fiscal crisis in 1907. Indeed, he was a driving force in the modernization of American business, and the effects of his acumen and foresight continue to resonate today--on Wall Street and beyond. Additionally, known for his displays of wealth and power, Morgan was a prominent figure of the New York society scene--a member of the original one percent--as well as a notable art connoisseur with a sizable collection now housed in Manhattan's lavish Morgan Library & Museum, once his own private library. In this meticulously researched and comprehensive biography, Frederick Lewis Allen, former editor of Harper's magazine and author of Only Yesterday, delves into the life and character of a fascinating, multidimensional man. Allen also probes the evolution of the business landscape during Morgan's lifetime, when giant corporations with unparalleled economies of scale began to absorb and replace smaller competitors. This richly detailed portrait of a man whose name is inseparable from American finance is essential reading for anyone seeking a deeper understanding of banking and business history.
By Evan Davis. 2011
What are countries famous for making? For Japan, the answer might be electronic goods. For Germany, automobiles. For France, perhaps…a Louis Vuitton bag. But what about Britain?Here, Evan Davis sets himself the task of finding out. Offering a fascinating look at our manufacturing industries and revealing the various companies that might not be household names, but are very much world leaders in their fields, he shows how we have learnt to specialise in high end and niche areas that are the envy of the world. Taking in our disappointments and successes, Made in Britain is a brilliantly readable tour of our economic history, exploring the curious blend of resilience, innovation and economic free-thinking that makes us who we are.