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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 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.
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 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.
By Oleh Havrylyshyn, Elodie Douarin. 2021
This book aims to define comparative economics and to illustrate the breadth and depth of its contribution. It starts with…an historiography of the field, arguing for a continued legacy of comparative economic systems, which compared socialism and capitalism, a field which some argued should have been replaced by institutional economics after the fall of the Berlin Wall. The process of transition to market capitalism is reviewed, and itself exemplifies a new combination of comparative analysis with a focus on institutional development. Going beyond, chapters broadening the application of comparative analysis and applying it to new issues and approaches, including the role and definition of institutions, subjective wellbeing, inequality, populism, demography, and novel methodologies. Overall, comparative economics has evolved in the past 30 years, and remains a powerful approach for analyzing important issues.
By Michal Varmus, Milan Kubina, Roman Adámik. 2021
Sport, and in particular the sporting environment, has undergone significant changes in recent decades. The social significance and commercialization of…sport; the use of new technologies and organizational structures; and the involvement of various stakeholders matter more today than ever before. This book addresses the key influence of stakeholders in particular on the activities of sports organizations, taking into account certain territorial differences around the world, but also within Europe. The authors explain the key characteristics of the management of sports organizations as opposed to other organizations. These include the strategic management and setting of long-term goals such as sporting success, sustainable funding, youth training, and community building. The authors present a strategic model for these goals and stakeholders in the context of sport, together with research-based case studies in which the critical factors in the strategic management of successful and unsuccessful sports organizations are identified.
Structural Transformation of Bangladesh Economy: A South Asian Perspective (South Asia Economic and Policy Studies)
By Mustafa K. Mujeri, Neaz Mujeri. 2021
This book examines the theory and global evidence on structural transformation along with stylised facts and implications using, among others,…a dynamic panel model, for South Asia. The characteristics of the structural transformation process in Bangladesh bring out the relevance of a comprehensive and inclusive South Asian ‘brand’ in view of the challenges of large population size, high burden of poverty, rising inequalities and its compulsion to achieve rapid and sustained inclusive development.The analysis highlights several distinct characteristics of Bangladesh’s structural transformation including changes in value added, trade, employment, productivity, formal-informal jobs, and opportunities for low-skilled workers. The book suggests that the manufacturing sector could not create the required number of jobs and generate rapid absolute and relative productivity gains in the Bangladesh economy. Although the services sector has largely led output and employment growth, services subsectors with strong labour absorptive capacity have low average productivity. Hence, growth-enhancing structural transformation led by these subsectors is likely to be less dynamic than required for rapid employment-creating growth in the economy. The book’s analysis on COVID-19 and cyclone Amphan shows that an integrated disaster and development paradigm is needed for Bangladesh. An inclusive and health and well-being focused structural transformation presents the pathway to advance the people-centred approach to development in Bangladesh through both vulnerability reduction and investments in sustainable development that would offset both known and unknown disaster threats. The key for Bangladesh is to skillfully manage the ‘developer’s dilemma’ of achieving both structural transformation in terms of large productivity gains and inclusive growth for reducing poverty and rising inequalities. This book is relevant to students, academicians and development practitioners and others interested in contemporary development.
By Stefanos Gimatzidis, Reinhard Jung. 2021
This book studies past economics from anthropological, archaeological, historical and sociological perspectives. By analyzing archeological and other evidence, it examines…economic behavior and institutions in ancient societies. Adopting an interdisciplinary perspective, it critically discusses dominant economic models that have influenced the study of past economic relations in various disciplines, while at the same time highlighting alternative theoretical trajectories. In this regard, the book’s goal is not only to test theoretical models under scrutiny, but also to present evidence against the rationalization of past economic behavior according to the rules of modern markets. The contributing authors cover various topics, such as trade in the classical Greek world, concepts of commodity and value, and management of economic affluence.
By Jun Ma, Masashi Yamamoto. 2021
This book provides a broad investigation of various issues in East Asia’s steel industry since the 1980s, including international specialization…and trade relations, the sustainable use of resources, technological innovations, and environmental mitigation, alongside a consideration of the rapid growth in Chinese steel industry. Using macro and firm-level data, and case studies based on field research to discuss issues concerning the steel industry in East Asia. In search of an easy understanding, we try to simplify complicated economic models and statistical analyses, and concentrate on policy implications based as much as possible on the results of empirical analyses. We believe that this book will be of interest to policymakers, economists, practitioners and advocates of sustainability.
By Gavin Hewitt. 2013
In THE LOST CONTINENT BBC Europe Editor Gavin Hewitt tells the story of a flawed dream, a noble vision that…turned dangerous, and which led Europe into its gravest crisis since World War Two - a crisis for which it was totally unprepared.A pillar of the post-war European dream was a shared currency, and with it came easy money, seducing some countries into a wild spending binge. After the financial crash in the United States, Europe caught the cold and was left with a debt crisis that came to threaten the entire European project. THE LOST CONTINENT is rich in anecdote, weaving together the stories of ordinary people with the high politics and drama of Europe in crisis to give an unparalleled and vivid portrait of a massive shift in modern history. It includes interviews with top officials and insiders, and dramatic accounts of key meetings. Gavin Hewitt's THE LOST CONTINENT is a clear-eyed book by a distinguished and well-connected journalist which tells the astonishing story of how we got here and where we might be headed.
By Evgueni Vinogradov. 2021
The digital and increasingly digitised world is shaped by the interplay of new technological opportunities and ubiquitous societal trends. Both…lead to drastic changes facing artificial intelligence (AI), cryptocurrencies and block-chain technologies, internet of things, technology-based surveillance, and other disruptive innovations. These developments facilitate the rise of the sharing economy and open for a variety of new entrepreneurial opportunities that businesses can take up. The novel entrepreneurial opportunities, however, imply a paradigmatic shift in the understanding of entrepreneurship. This book combines digital entrepreneurship with the sharing economy. It presents cutting-edge research for scholars and practitioners interested in either one of the topics – digital entrepreneurship or sharing economy – or their connection. The book addresses three major ways to become entrepreneurial in the sharing economy: digital entrepreneurship through creating novel sharing-economy platforms; technology entrepreneurship through the exploitation of sharing-economy platforms; and business model innovation or business model change influenced by the sharing economy. The book also highlights governance questions on digital entrepreneurship in the sharing economy, which are highly relevant for businesses, the economy, and society. The book will be of interested to researchers, academics, and students in the field of business and entrepreneurship, with a special focus on digital entrepreneurship.