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Macroeconomics is concerned with the economy as a whole. In macroeconomics, we develop an overall view of the economic system and we study total (or aggregate) economic behaviour. The emphasis is on topics such as total production, income and expenditure, economic growth, aggregate unemployment, the general price level, inflation and the balance of payments. Macroeconomics is therefore the world of totals.
This second edition of Understanding macroeconomics is a comprehensive revision and restructuring of the first edition, but still against a contemporary South African background. The major changes include the following: the chapter on money has been expanded and moved forward, and the material on the Keynesian model has been consolidated in two separate chapters, instead of being spread over different chapters . There is also a greater emphasis on the role of monetary and fiscal policy. New topics include the role of the ratings agencies and the notion of "radical economic transformation".
As in the first edition, the easy style and practical examples make the content extremely accessible. A wealth of relevant information about the South African economy is also provided. A companion to this book, Understanding microeconomics, is also available.
A concise but clear introduction to economics in general and microeconomics in particular, within a South African context. Aimed at first-year students of economics at universities and universities of technology. Contents include the following: What economics is all about; important concepts, issues and relationships; demand, supply and prices; demand and supply in action; elasticity; the theory of demand: the utility approach; the theory of demand: the indifference approach; background to supply: production and cost; market structure 1: Overview and perfect competition; market structure 2: Monopoly and imperfect competition; the labour market.
This South African edition of Macroeconomics is essential reading for all students taking introductory economics modules on undergraduate courses throughout South Africa. It is also ideal for use with the macroeconomics component of MBA courses. The text contains updated case studies, set against a South African context to illustrate how the principles of economics relate to your life. The news articles are based on news events in South Africa along with questions to help you apply your knowledge and to build your understanding. This text is designed to give you the confidence and ability to think like an economist.
More than $2 trillion is traded in the foreign exchange every day, and many experts believe this figure will double in the next five years. Fortunately for spot currency traders, the high-volume periods in this market are predictably moved by information released from government and informational agencies, typically on Wednesdays and Fridays at 8:30 a.m. Knowing this gives the Forex trader tremendous analytical advantage, and in "Forex Shockwave Analysis," veteran online spot currency trader James Bickford offers reliable techniques and know-how to capitalize on the violent disruptions that happen at these times.
When a severe breakout up or down occurs in an otherwise well-behaved time series, it's called a shockwave, and "Forex Shockwave Analysis" offers unprecedented focus on identifying, analyzing, and categorizing this unique pattern in the foreign exchange market. It not only helps independent investors isolate and recognize recurring shockwave personality traits, but it also gives insight into the reactive phase immediately following the shockwave. Fundamental analysis is covered to provide complete coverage, but playing this market's action can be most highly profitable when the streaming data available today is used to reveal critical properties and characteristics about the underlying currency pair. This book equips you with the four most important methods of technical analysis: Pattern recognition Econometric models Crossover trading systems Wave theory
"Forex Shockwave Analysis" is packed with practical information for mastering shockwave trading, including a refined minimum reversal algorithm that converts raw security data (OHLC quotes) to swing data, numerous charts and diagnoses based on activity, range, and interaction, as well as fifteen case studies demonstrating how covered material works in the real world. This highly visual book is also outstandingly designed to serve as a computer-side reference that equips you with eleven appendices filled with all the tools you need to gain a distinct advantage while working online in your currency trading platform.
Shockwaves occur over the course of a few minutes, and with "Forex Shockwave Analysis," you can effectively profit off them for a lifetime.
How does the South African economy work? Why do macroeconomic variables change? So what if they do? What happens next? How do economic processes and policy institutions really work? Which data must I use? What can policy do? And then the big questions: How can we reduce unemployment and maintain low inflation? What then about poverty, inequality, inclusive growth and development in South Africa?
The answers are found in How to think and reason in Macroeconomics – A South African text, a popular university textbook with very positive feedback from students, lecturers and practitioners. This fifth edition is completely up-to-date and comprehensive. It combines well-informed intuitive understanding with solid economic theory plus a concrete understanding of South African economic issues, processes, institutions and data. In this way it prepares you to analyse macroeconomic events and policies in a globalised and development context – and understand different perspectives in policy and political-economic debates.
Providing a comprehensive and authoritative introduction to the workings of modern financial systems, the efficiency of money markets and the role of investment bankers - this text is essential reading for students of banking, finance, investment, business studies and economics.
Economics for Business and Managementoffers an exciting introduction to the principles and applications of microeconomics and macroeconomics to the global business problems faced by today's decision makers: * What are the characteristics for successful entry into new international markets? * How can 'sustainability' affect decision making within businesses? * Why are today's global investors so concerned about national debt issues? * In what ways does an awareness of cultural differences improve decision making by international marketing and human resource strategists? * What strategies can companies such as BP use to repair damaged global reputations? It is an ideal text for introductory courses in economics with a business and management focus and more general business environment courses with an economic underpinning. Visit the fantastic website at www.pearsoned.co.uk/griffithswall to find extra practice questions, interactive activities, quizzes and exam style practice questions with instant feedback, as well as podcasts, news articles, animated professional power points slides and a testbank of questions.
Financial Crisis, penned by Adrian Buckley, offers a fascinating close-up analysis of the causes of the 2007/8 financial crisis and its consequences placing the world of finance under the microscope, bringing together evidence of the involvement of banks, governments and regulators. It questions some of its most dangerous and dubious practices, witnessed while searching for the answer to the question: What really caused the financial crisis?
Global Financial Systems is an innovative, interdisciplinary text that explores the 'why' behind global financial stability. Danielsson draws on economic theory, finance, mathematical modelling, risk theory, and policy to posit a coherent and current analysis of the global financial system. "Nicely and clearly written for an undergraduate audience...the book has a fresh perspective that will differentiate it from pre-crisis texts" Professor Goodhart, Professor Emeritus, London School of Economics "Global Financial Systems: Stability and Risk, looks to be an important book... it will appeal to those interested in regulation as well as those more on the regulatory side." Professor Caprio, William Brough Professor of Economics at Williams College and Chair, Center for Development Economics Jon Danielsson is Director of the Systemic Risk Centre, London School of Economics, and Reader in Finance Visit the author's personal website at http://www.globalfinancialsystems.org/ to read two online chapters covering the latest developments.
Free market capitalism is one of humanity's greatest inventions, and the greatest source of prosperity the world has ever seen. But it's also on the verge of destroying the planet and destabilizing society in its single-minded pursuit of maximizing shareholder value. Rebecca Henderson, McArthur University Professor at Harvard University, argues for a new framework; one that can simultaneously make a positive societal impact by confronting the realities of the environment and the need to address social and economic inequality, while also delivering sustained financial performance to ensure economic growth that brings prosperity and wellbeing to society as a whole. Drawing on the lessons of companies from around the world who are acting on this responsibility - who are not only surviving but are thriving, becoming leaders in their industries and beginning to drive the wheels of change - Professor Henderson proves that this is not only a moral imperative for business but also the only way to remain competitive in our changing world.
Economics Today: Macro View-Bringing the Real World to Your Students For a complete multimedia book tour of Miller, Economics Today, 17e, Click Here. For a look at the Supply & Demand Chapter of this title, Click Here. Students learn best when they see concepts applied to examples from their everyday lives. This new edition of Economics Today: Macro View covers leading-edge issues while lowering barriers to student learning. The text relentlessly pursues the fundamental objective of showing students how economics is front and center in their own lives while providing them with many ways to evaluate their understanding of key concepts covered in each chapter. Each chapter begins and ends with an Issues and Applications feature, which introduces a timely issue in the chapter opener and analyzes the issue using the economic tools learned in that chapter at the end. This text is also available with MyEconLab(r), which includes assessment questions that tie to these Issues and Applications, as well as ABC News video clips. With MyEconLab, students can continue working problems online and receive personalized tutorial resources. Visit MyEconLab for more information.
Well-known for its engaging, conversational style, this text makes sophisticated concepts accessible, introducing students to how markets and institutions shape the global financial system and economic policy. Principles of Money, Banking & Financial Markets incorporates current research and data while taking stock of sweeping changes in the international financial landscape produced by financial innovation, deregulation, and geopolitical considerations. It is easy to encourage students to practice with MyEconLab, the online homework and tutorial system. New to the Twelfth Edition, select end-of-chapter exercises from the book are assignable in MyEconLab and preloaded problem sets allow students to practice even if the instructor has not logged in. For more information about how instructors can use MyEconLab, click here.
All specialist economics students, plus students taking a non-specialist module, and social science students taking an economics module will need this book.
Macroeconomics is widely praised for its ability to present theory as a way of evaluating key macro questions, such as why some countries are rich and others are poor. Students have a natural interest in what is happening today and what will happen in the near future. Macroeconomics capitalizes on their interest by beginning with business cycles and monetary-fiscal policy in both closed and open economy. After that, Gordon presents a unique dynamic analysis of demand and supply shocks as causes of inflation and unemployment, followed by a dual approach to economic growth in which theory and real-world examples are used to compare rich and poor countries. MyEconLab New Design is now available for this title! MyEconLab New Design offers: *One Place for All of Your Courses. Improved registration experience and a single point of access for instructors and students who are teaching and learning multiple MyLab/Mastering courses. *A Simplified User Interface. The new user interface offers quick and easy access to Assignments, Study Plan, eText & Results, as well as additional option for course customization. *New Communication Tools. The following new communication tools can be used to foster collaboration, class participation, and group work. *Email: Instructors can send emails to their entire class, to individual students or to instructors who has access to their course. *Discussion Board: The discussion board provides students with a space to respond and react to the discussions you create. These posts can also be separated out into specific topics where students can share their opinions/answers and respond to their fellow classmates' posts. *Chat/ ClassLive: ClassLive is an interactive chat tool that allows instructors and students to communicate in real time. ClassLive can be used with a group of students or one-on-one to share images or PowerPoint presentations, draw or write objects on a whiteboard, or send and received graphed or plotted equations. ClassLive also has additional classroom management tools, including polling and hand-raising. *Enhanced eText. Available within the online course materials and offline via an iPad app, the enhanced eText allows instructors and students to highlight, bookmark, take notes, and share with one another.
There is no better guide to basic economics than Paul Krugman. Likewise, there is no stronger foe of zombie economics, the misunderstandings that just won't die. In Arguing with Zombies, Krugman tackles many of these misunderstandings in a series of concise, digestible chapters. With quick, vivid sketches, this New York Times bestseller turns readers into intelligent consumers of the daily news and unlocks the concepts behind the greatest economic policy issues of our time. Arguing with Zombies is an indispensable guide to two decades' worth of political and economic discourse in the United States and around the globe. Writing at the height of his powers, Krugman delivers an instant classic that can serve as a reference point for this and future generations.
Macroeconomics: Understanding the Global Economy, 3rd Edition is to help students and indeed anyone understand contemporary and past economic events that shape the world we live in, and at a sophisticated level. But it does so without focusing on mathematical techniques and models for their own sake. Theory is taken seriously so much so that the authors go to pains to understand the key aspects of theories in a way that will not put people off before they see how theories are useful to analyse issues. The authors believe that theories are essential to better understand the world, thus the book includes a wealth of historic and current episodes and data to both see how theories can help interpret the world and also to judge their validity. Economies today are very inter-connected; what happens in China matters pretty much everywhere; and what happens in one (even small) country in the euro zone has implications for the whole euro area and beyond, consequently Macroeconomics, 3rd Edition adopts a very international focus.
Money is the most important human invention after language. It provides tokens for the faith we have in each other and society – but that trust has been violated repeatedly throughout history by the middlemen and authorities we rely upon in order to transact with each other.
Now a new kind of money promises to rescue us from these tyrants and return us to the roots of money, without relying on third-parties. Instead of putting our faith in banks and governments, we can trust math.
Simon Dingle has been working with Bitcoin and other cryptocurrencies since 2011, designing products that make it easier to engage with this new world of money. He is also a broadcaster, writer and speaker who makes complex subjects simple for his audiences. Having led the product team at one of the world’s first Bitcoin exchanges and on other popular fintech products, Simon continues to design and invest in projects that make money more fair, this in addition to his weekly radio show on 5FM that helps people with technology more generally.
In his first book Simon looks at the evolution of human trust that not only explains how cryptocurrencies work and the origins of Bitcoin, but how you can use these networks to take control of your own financial universe. A highly readable account of a complex subject, In Math We Trust is all you need to find out about the future of money.
Since the rational expectations revolution in macroeconomics, the subject has evolved in a major way, adopting the principles behind the revolution and building on them in spectacular fashion. In this thoroughly revised and updated second edition, the authors provide a complete and up-to-date textbook designed to guide students through the mathematical and conceptual maze of modern macroeconomics. The updated second edition includes: * Explanation of the historical development of the subject * Introduction to traditional macro-classical/adaptive expectations * Demonstration of how rational expectations are handled in macro models and in finance * An explanation of the importance of structural, micro-founded models * Key examples of structural models examined in detail, and with extension to the open economy * Discussion of policy implications throughout * Methodology for testing models against macro data behaviour, complete with the latest evidence on these models' success * Coverage of key topics, including the supply-side, unemployment, growth and the open economy. By explaining the basics of each topic, and providing the solid grounding for students to tackle more complex and detailed material, this textbook will be an invaluable resource for both postgraduate and upper level undergraduate students of macroeconomics alike.
See Economics in Action! In a world full of volatility, uncertainty and conflicting approaches, this market leading, concise text in introductory economics looks at the key economic issues of today and helps you make sense of them. This new edition has been updated with the most recent data and coverage of economic issues such as growth, unemployment, the environment, Brexit and behavioural economics. Its classic features and clear, engaging writing style are complemented by strong theoretical basis and a wealth of pedagogical features to support learning. Expect real-life examples, case studies, questions and problems to guide your understanding. Always up-to-date! The Sloman Economics News Site Make use of the leading student-friendly blog that's updated several times a month with news and topical stories, all linked to your textbook chapters, so you can understand current affairs more deeply. New! Access additional resources on the open Companion Website The website is full of supporting material such as threshold concepts, audio animations, case studies, web appendices, glossary, flashcards and answers to selected questions from the book. This book can also be supported by a premium homework and assessment system, MyLab Economics. Learn more inside.
From a Nobel Prize-winning pioneer in environmental economics, an innovative account of how and why "green thinking" could cure many of the world's most serious problems-from global warming to pandemics Solving the world's biggest problems-from climate catastrophe and pandemics to wildfires and corporate malfeasance-requires, more than anything else, coming up with new ways to manage the powerful interactions that surround us. For carbon emissions and other environmental damage, this means ensuring that those responsible pay their full costs rather than continuing to pass them along to others, including future generations. In The Spirit of Green, Nobel Prize-winning economist William Nordhaus describes a new way of green thinking that would help us overcome our biggest challenges without sacrificing economic prosperity, in large part by accounting for the spillover costs of economic collisions. In a discussion that ranges from the history of the environmental movement to the Green New Deal, Nordhaus explains how the spirit of green thinking provides a compelling and hopeful new perspective on modern life. At the heart of green thinking is a recognition that the globalized world is shaped not by isolated individuals but rather by innumerable interactions inside and outside the economy. He shows how rethinking economic efficiency, sustainability, politics, profits, taxes, individual ethics, corporate social responsibility, finance, and more would improve the effectiveness and equity of our society. And he offers specific solutions-on how to price carbon, how to pursue low-carbon technologies, how to design an efficient tax system, and how to foster international cooperation through climate clubs. The result is a groundbreaking new vision of how we can have our environment and our economy too.
As we face global challenges like climate change and inequality, what if women could use their investments to build a cleaner, fairer and more sustainable world? Financial feminism - the belief in the financial equality of women - has been gathering momentum, largely in the context of the gender pay gap: on average a woman earns 80% of what a man does. But there's another gap - the gender investing gap - which shows women are investing less than men, saving less for retirement and parking more in cash. When compounded by the gender pay gap, this results in a significant shortfall, but there's more to financial feminism than simply addressing these gaps: women also care about where their money is invested and the impact it can have. In this practical and accessible guide, sustainable investing expert Jessica Robinson shows how through financial feminism, women can use their financial power to invest in a sustainable future and build the kind of world they want to live in. With jargon-free explanations and real-world examples, she demystifies the financial services industry, breaks down just what sustainable investing is and demonstrates the societal and environmental impact of the investment decisions we make. Arming women with the information they need to get started - and keep going - she hopes that more women will embrace financial feminism, invest to grow their own wealth and, in doing so, use their financial decisions to demand a better world.
The book provides a thorough but concise exposure to macroeconomics to post school students as well as those studying economics for the first time. Following an introduction that gives an overview of macroeconomics as well as a brief discussion of the main macroeconomic problems that societies face, the book then looks at national income accounting and economic performance. The book looks at the unemployment problem. There is also a discussion of aggregate supply and demand theory, and the role of that theory in explaining the determinants of aggregate economic output and employment. The problem of inflation and is also discussed. The reality that the economies of most countries are interconnected with that of the rest of the world is discussed under open-economy. The book then discusses economic growth in both the short-run and the long run.
Why do economic variables change? So what if they do? What happens next? How do economic processes and policy institutions really work? What can policy do?
The answers are found in How To Think And Reason In Macroeconomics, a popular university text with very positive feedback from students, lecturers and practitioners. It combines well-informed intuitive understanding with solid economic theory plus a concrete understanding of South African economic processes, institutions and data. In this way it prepares you to analyse macroeconomic events and policies in a globalised and development context.
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