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"Microeconomics for Public Managers" presents a rigorous non-mathematical introduction to the study of microeconomics geared towards managers of nonprofit institutions.Provides an introduction to the economist's toolkit for students destined for not-for-profit enterprises and public institutionsTopics are selected for their relevance to the non-profit sector, enabling key issues to be covered in greater depth than standard microeconomic textbooksPertinent case studies and cost-benefit analysis are utilized throughoutFeatures end-of chapter problem sets and study questionsDescribes economic decision-making applicable to non-profit managers
Accompanying website with instructor materials is available at www.blackwellpublishing.com/keating
This is a book about the whole diverse range of firms that are found in the construction sector, about their decision-making and the economic environments in which they operate. The authors aim to provide a new and coherent perspective on these firms and the choices they have to make - both for their managers and for all who have a stake in these firms and their industry. This book offers some new and important perspectives for research and teaching about construction firms.
"In Gold We Trust" is a historical and sociological account of how, by the late 1960s, three small Italian towns had come to lead the world in the production of gold jewelry--even though they had virtually no jewelry industry less than a century before, and even though Italy had western Europe's most restrictive gold laws. It is a distinctive but paradigmatic story of how northern Italy performed its post-World War II economic miracle by creating localized but globally connected informal economies, in which smuggling, tax evasion, and the violation of labor standards coexisted with ongoing deliberation over institutional change and the benefits of political participation.
The Italian gold jewelry industry thrived, Dario Gaggio argues, because the citizens of these towns--Valenza Po in Piedmont, Vicenza in the Veneto, and Arezzo in Tuscany--uneasily mixed familial affection, political loyalties, and the instrumental calculation of the market, blurring the distinction between private interests and public good. But through a comparison with the jewelry district of Providence, Rhode Island, Gaggio also shows that these Italian towns weren't unique in the ways they navigated the challenges posed by the embeddedness of economic action in the fabric of social life.
By drawing from a variety of disciplinary backgrounds, ranging from economic sociology to political theory, Gaggio recasts the meanings of trust, embeddedness, and social capital, and challenges simple dichotomies between northern and southern Italy.
Addresses the question of how potential insurance buyers make decisions like these by considering the conceptual and empirical evidence that address the following theoretical and behavioral issues: the extent that consumers tend to follow the multiperiod decision rules based on expected utility [E(U)] maximization; and the factors that influence their choices when they do not behave as if they are maximizing E(U). The principal contribution of this monograph is to demonstrate that emotions play a role in predicting departures from expected utility maximization for making insurance purchasing decisions over time. The authors highlight the conceptual issues and alternative theories of behavior about repeat insurance purchasing over time and the empirical literature on the proportion of consumers that buy coverage after loss-producing events only to cancel their insurance as those events become more distant in time. The monograph then details the findings from novel web-based experiments that seek to determine whether people change their insurance decisions after experiencing a loss when offered a relatively high, medium or low premium relative to the expected loss. Section 2 reviews the empirical evidence on deviations from rational thinking, especially as they relate to choices about repeated purchase over time. It also discusses the interplay between cognitive biases generated by intuitive thinking and emotions in changing insurance purchase decisions over time. Section 3 details an experiment in the context of hypothetical hurricane damage where individuals are told that loss probabilities and premiums remain the same from period to period. Section 4 details an experiment where participants must choose between high-deductible health insurance at a given premium and low-deductible health insurance at a higher premium, and explores whether they will switch from one policy to the other over time. Section 5 draws together the findings, and provides guiding principles of insurance and recommendations for public-private partnerships to address the cognitive biases noted in Section 2 via a behavioral risk audit that encourages more deliberative thinking with respect to insurance-related choices.
Economic inequality continues to contribute to political and social instability around the world. This instability stifles development and results in widening the wealth gap between the "haves" and "have nots," further eroding stability. It has been argued that entrepreneurship is a prime contributor to this vicious cycle. Using Entrepreneurship and Social Innovation to Mitigate Wealth Inequality contends that this is only true when the opportunity for entrepreneurship is limited to a few. The authors maintain that when entrepreneurship is open to anyone who is properly motivated, innovative, and has a goal of growth for their enterprise, it helps build wealth for a greater number of people. The concept of "social entrepreneurship" is introduced, where entrepreneurship becomes a vehicle for explicitly addressing community-based economic and social challenges using markets. The book uses examples of entrepreneurial projects and programs that have attempted to address inequality to discuss entrepreneurship as an economic development strategy and its role in addressing the challenges of economic inequality. It advocates thinking and acting systemically, creating and sustaining entrepreneurial support ecosystems, in order to generate the synergy required to scale-up development and transform our economies and provides a distinctive perspective on a pressing social and economic issue, with significant implications for the future of the United States and the world.
Building suppliers, manufacturers, trade contractors, real estate brokers-if you sell products or services to home builders, this book will increase your success rate and business savvy. Learn the types of builders and what will get you in the door and writing orders. Steve Monroe draws on over 30 years of sales wisdom to provide proven tools that assess where you stack up as a sales or service professional, motivate you, and polish your performance, whether you aim to serve small-volume, custom, or large production builders. This second edition includes a companion CD with exercises that help you evaluate your current business practices and guide you to become an even more successful salesperson. The CD also has easy-to-use business forms that will bolster the amount of business you are doing with builders.
Understanding why so many people across the world are so poor is one of the central intellectual challenges of our time. This book provides the tools and data that will enable students, researchers and professionals to address that issue. Empirical Development Economics has been designed as a hands-on teaching tool to investigate the causes of poverty. The book begins by introducing the quantitative approach to development economics. Each section uses data to illustrate key policy issues. Part One focuses on the basics of understanding the role of education, technology and institutions in determining why incomes differ so much across individuals and countries. In Part Two, the focus is on techniques to address a number of topics in development, including how firms invest, how households decide how much to spend on their children's education, whether microcredit helps the poor, whether food aid works, who gets private schooling and whether property rights enhance investment. A distinctive feature of the book is its presentation of a range of approaches to studying development questions. Development economics has undergone a major change in focus over the last decade with the rise of experimental methods to address development issues; this book shows how these methods relate to more traditional ones. Please visit the book's website at www.empiricalde.com for online supplements including Stata files and solutions to the exercises.
This policy-oriented paper identifies initiatives that policy-makers in the Asia Pacific region should duly consider for promoting CSR practices, at both the regional and national levels, and spanning domestic SMEs to large MNEs. The initiatives are diverse in focus and scope, although there is one common denominator: virtually none can be enacted by government alone. Any initiative to promote sustainable and responsible business needs to be sustainable in itself, and that in turn necessitates the active engagement and tangible inputs of the business community.
The book discusses the mechanisms by which securities are traded, as well as examining economic models of asymmetric information, inventory control, and cost-minimizing trading strategies.
Economics plays a key role in human rights issues as decision-makers weigh the incentives associated with choosing how to use scarce resources in the context of committing or escaping human rights violence. This textbook provides an introduction to the microeconomic analysis of human rights utilizing economics as a lens through which to examine social topics including capital punishment, violence against women, asylum seeking, terrorism, child abuse, genocide, and hate. Whether analyzing the decisions made in capital punishment cases, the causes and consequences of genocide, or the impact of terrorist acts on domestic and international decision-making, the science of economics provides tools and a systematic method of analysis and policy recommendation. This key text presents a method for integrating the social sciences of economics and human rights to create new opportunities for the investigation of social issues. Within each chapter, readers gain a fundamental understanding of a specific human rights issue, the decision-makers and the decision-making process involved, and the benefits and costs leading to the decisions. Experts on each issue, drawn from a variety of fields, contribute to each chapter and present first-hand accounts and different perspectives on each issue. The detailed analyses and accounts provided also explore the potential incentives involved in the prevention and termination of human rights violations. Aiming to further economic inquiry and enhance interdisciplinary research, this textbook serves as a multi-purpose guide for a range of readers. Students, researchers, and educators, as well as those working in organizations supporting victims of human rights violations and policy-makers facing human rights challenges, will find this book informative and engaging.
This monograph provides a comprehensive review of the literature on competitiveness and leakage concerns associated with differentiated climate abatement commitments among countries. The literature reviewed is not exhausted, but it is sufficient to provide a balanced view of both academics and policy circles. Section 2 discusses main channels of carbon leakage. Section 3 discusses how to identify the sectors at a risk of carbon leakage. Section 4 examines ex ante estimates of potential carbon leakage rates, and explains why they differ from ex post results of environmental tax reforms and greenhouse gas emissions trading schemes that have been implemented in the European Union. Section 5 discusses broad policy options to address competitiveness and leakage concerns, and compares which anti-leakage policy, border adjustments or output-based allocation, is more effective to limiting carbon leakages or mitigating production loss in the sectors affected. Given that border carbon adjustment measures were incorporated in the U.S. proposed congressional climate bills to level the carbon playing field and could have potential conflicts with World Trade Organization (WTO) provisions and practical difficulties associated with their implementation, Section 6 discuses in great detail the WTO consistency, the effectiveness and methodological challenges of border carbon adjustment measures. The monograph ends with some concluding remarks.
The economic principles that underpin commercial transactions via electronic networks, and the many associated economic issues and controversies that e-commerce generates, are dizzying in their complexity. Now, to help advanced students and researchers make sense of an explosion of scholarship, Routledge announces e-Commerce Economics, a new title in its acclaimed Critical Concepts in Economics series. Edited by David VanHoose, a leading scholar in the field, e-Commerce Economics is a 'mini library' that brings together in four volumes the foundational and the very best cutting-edge research. With a comprehensive introduction, newly written by the editor, which places the collected material in its historical and intellectual context, e-Commerce Economics is an essential collection destined to be valued as a vital one-stop resource.
Modern economies reward activities that extract value rather than create it. This must change to ensure a capitalism that works for us all. Shortlisted for the FT & McKinsey Business Book of the Year Award A scathing indictment of our current global financial system, The Value of Everything rigorously scrutinizes the way in which economic value has been accounted and reveals how economic theory has failed to clearly delineate the difference between value creation and value extraction. Mariana Mazzucato argues that the increasingly blurry distinction between the two categories has allowed certain actors in the economy to portray themselves as value creators, while in reality they are just moving around existing value or, even worse, destroying it. The book uses case studies-from Silicon Valley to the financial sector to big pharma-to show how the foggy notions of value create confusion between rents and profits, reward extractors and creators, and distort the measurements of growth and GDP. In the process, innovation suffers and inequality rises. The lesson here is urgent and sobering: to rescue our economy from the next inevitable crisis and to foster long-term economic growth, we will need to rethink capitalism, rethink the role of public policy and the importance of the public sector, and redefine how we measure value in our society.
An intuitive and grounded approach to economics Get students to think like economists using the latest policy and data while incorporating global issues. Microeconomics, 13th Edition builds on the foundation of the previous edition and retains a thorough and careful presentation of the principles of economics. The text emphasizes real-world applications, the development of critical-thinking skills, diagrams renowned for their pedagogy and clarity, and path-breaking technology. As a hallmark features in the chapter openings and endings encourage students to think critically about a news article relating to the issue, demonstrating how thinking like an economist can bring a clearer perspective to and deeper understanding of today's events. MyLabTM Economics not included. Students, if MyLab is a recommended/mandatory component of the course, please ask your instructor for the correct ISBN and course ID. MyLab should only be purchased when required by an instructor. Instructors, contact your Pearson rep for more information. MyLabTM is the teaching and learning platform that empowers you to reach every student. It is an online homework, tutorial, and assessment product designed to personalize learning and improve results. With a wide range of interactive, engaging, and assignable activities, students are encouraged to actively learn and retain tough course concepts. By combining trusted author content with digital tools and a flexible platform, MyLab personalizes the learning experience and improves results for each student.
An indispensable roadmap and a refreshingly optimistic take on our economic future: Award-winning New Yorker staff writer and brilliant creator of NPR's Planet Money shows us how the 21st century economic paradigm offers unprecedented opportunities for curious, ambitious individuals to combine the things they love with their careers. From 'Focus on Intimacy at Scale' to 'Find Your Valuable Five Percent' and 'The Harder Your Core Customer Is to Reach, The Better You Will Do', Adam Davidson lays down the Ground Rules for success in the new economy. Drawing on inspiring case studies - a sweatshop-owner's daughter fighting for better working conditions, an Amish craftsman meeting the technological needs of his fellow farmers - as well as the latest academic research, he shows us how the twentieth-century economy of scale has given way in this century to an economy of passion. Davidson's special talent for breaking down daunting economic terminology and making theory accessible have won him not only respect as an economics guru but also most of broadcast journalism's highest honours. In this breath-of-fresh-air book, he inspires us all to see that with intimacy, insight, attention, automation, and of course, passion, we can succeed in this new economic world.
In the revolutionary decade between 1979 and 1992, it would have been difficult to find three political systems as different as death-squad-dominated El Salvador, peaceful social-democratic Costa Rica, and revolutionary Sandinista Nicaragua. Yet when the fighting was finally ended by a peace plan initiated by Costa Rica's President Oscar Arias, all three had found a common destination in democracy and free markets. To explain this extraordinary turn of events is the task of this landmark book, which fuses political economy and cultural analysis.
Both the divergent political histories and their convergent outcome were shaped by a single commodity that has dominated these export economies from the nineteenth century to the present--coffee. Jeffery Paige shows that the crises of the 1980s had their roots in the economic and political crises of the 1930s, when the revolutionary left challenged the ruling coffee elites of all three countries. He interweaves and compares the history, economics, and class structures of the three countries, thus clarifying the course of recent struggles. The heart of the book is his conversations with sixty-two leaders of fifty-eight elite dynasties, who for the first time tell their own stories of the experience of Central American revolution.
Paige's analysis challenges not only Barrington Moore's influential theory of dictatorship and democracy but also contemporary approaches to "transitions to democracy." It also shows that a focus on either political economy or culture alone cannot account for the transformation of elite ideology, and that revolution in Central America is deeply rooted in the personal, familial, and class histories of the coffee elites.
The concept of general equilibrium, one of the central components of economic theory, explains the behavior of supply, demand, and prices by showing that supply and demand exist in balance through pricing mechanisms. The mathematical tools and properties for this theory have developed over time to accommodate and incorporate developments in economic theory, from multiple markets and economic agents to theories of production.
Yves Balasko offers an extensive, up-to-date look at the standard theory of general equilibrium, to which he has been a major contributor. This book explains how the equilibrium manifold approach can be usefully applied to the general equilibrium model, from basic consumer theory and exchange economies to models with private ownership of production. Balasko examines properties of the standard general equilibrium model that are beyond traditional existence and optimality. He applies the theory of smooth manifolds and mappings to the multiplicity of equilibrium solutions and related discontinuities of market prices. The economic concepts and differential topology methods presented in this book are accessible, clear, and relevant, and no prior knowledge of economic theory is necessary.
"General Equilibrium Theory of Value" offers a comprehensive foundation for the most current models of economic theory and is ideally suited for graduate economics students, advanced undergraduates in mathematics, and researchers in the field.
In high power, high voltage electronics systems, a strategy to manage short timescale energy imbalances is fundamental to the system reliability. Without a theoretical framework, harmful local convergence of energy can affect the dynamic process of transformation, transmission, and storage which create an unreliable system. With an original approach that encourages understanding of both macroscopic and microscopic factors, the authors offer a solution. They demonstrate the essential theory and methodology for the design, modeling and prototyping of modern power electronics converters to create highly effective systems. Current applications such as renewable energy systems and hybrid electric vehicles are discussed in detail by the authors. Key features: * offers a logical guide that is widely applicable to power electronics across power supplies, renewable energy systems, and many other areas * analyses the short-scale (nano-micro second) transient phenomena and the transient processes in nearly all major timescales, from device switching processes at the nanoscale level, to thermal and mechanical processes at second level * explores transient causes and shows how to correct them by changing the control algorithm or peripheral circuit * includes two case studies on power electronics in hybrid electric vehicles and renewable energy systems Practitioners in major power electronic companies will benefit from this reference, especially design engineers aiming for optimal system performance. It will also be of value to faculty staff and graduate students specializing in power electronics within academia.
Natural Gas Pipeline Regulation in the United States provides a detailed economic overview of these regulations and reviews the relevant economic and policy literature that has tracked the evolution and regulation of the U.S. gas transmission market over the past century. Section 2 provides a detailed history of U.S. federal regulation of interstate gas pipelines, highlighting the most impactful regulatory changes and discussing both the immediate and lasting effects they had on the market. It shows how specific regulatory measures were critical in helping the nascent and integrated natural gas extraction and transmission industry establish itself as a cornerstone of the U.S. energy portfolio, and how these same regulations, after the industry had grown, resulted in severe market distortions. In response to these distortions and to increase market competition, the Federal Energy Regulatory Commission (FERC) issued Order 636 in 1992, mandating that the U.S. natural gas industry be fully restructured into separate production, transportation, and distribution sectors. A wealth of economic and policy literature has since analyzed the impacts of Order 636, both on the behavior of pipeline operators specifically and on the U.S. natural gas market. Section 3 provides a thorough review of this literature and discusses the current industry structure that has emerged. It also includes a detailed explanation of FERC's current rate setting methodology for gas pipelines, a discussion of the "primary" and "secondary" markets for natural gas transmission and FERC's formal capacity release system, and a brief review of several important non-price regulations faced by pipeline operators. Finally, Section 4 discusses the future of regulation in the gas pipeline industry, offering predictions and recommendations to policy makers and pipeline operators regarding the likely direction of regulatory changes. A growing body of economic literature now praises the benefits of transitioning away from rate-of-return regulation in infrastructure-intensive industries, in favour of more flexible `incentive-based' regulatory models and the authors discuss the likelihood and implications of a move toward incentive-based regulation in the U.S. gas pipeline industry.
The third edition continues to supply the building blocks of microeconomic analysis: a thorough treatment of optimization and equilibrium methods, coupled with numerous examples of their application.The third edition expands on the earlier editions in two ways. First, the coverage has been rewritten and rearranged. Second, chapters have been added on game theory, oligopoly, asset markets, and information economics. The new chapters fully update the text, highlighting significant developments of the last decade at a level that is accessible for first-year graduate students.
This textbook provides a comprehensive and up to date review of the rapidly expanding business cycle literature. It covers three key strands of the theory which have dominated recent literature in the subject: equilibrium (monetary and real) business cycles, nonlinear business cycle models and political business cycle theories.
After surveying the various approaches to business cycle modelling and studying the recent evidence it becomes clear that far more testing of these key business cycle hypotheses has been undertaken using US macroeconomic time series than the equivalent UK series. In an attempt to redress the balance the authors present new results for UK macroeconomic time series and compare and contrast them with previous results from the UK and those derived in the US. In conclusion, the authors consider the implications for policy of the various theories and the empirical results, and make suggestions for future research.
"Business Cycles" is designed for advanced undergraduate and postgraduate students of macroeconomics and monetary theory and policy and academic economists wishing to keep abreast of the substantial recent developments in this field.
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