The present volume deals with various practical problems in economics,
as a volume published a year earlier dealt with the broader economic
principles of value and distribution. To the student beginning
economics and to the general reader the study of principles is likely
to appear more difficult than does that of concrete questions. In
fact, the difficulty of the latter, tho less obvious, is equally
The aim of the Handbooks in Economics series is to produce Handbooks for
various branches of economics, each of which is a definitive source, reference, and
teaching supplement for use by professional researchers and advanced graduate
students. Each Handbook provides self-contained surveys of the current state of a
branch of economics in the form of chapters prepared by leading specialists ...
Ludwig von Mises (1881–1973) is arguably the most important
economist of the twentieth century, and one of the greatest social
philosophers ever. He made a large number of lasting contributions
to economic theory, yet his main achievement is in the elaboration
of a comprehensive system of social analysis. Mises had started his
career as a student of economic and social history and then became
a top policy analyst and government advisor in his native Austria.
After studying this chapter you will be able to: Describe and model discretionary and nondiscretionary fiscal policy using an aggregate supply and aggregate demand diagram, distinguish between aggregate demand and aggregate supply shocks, acknowledge and enumerate the problems associated with discretionary fiscal policy, describe nondiscretionary fiscal policy as the mainstay of our current macroeconomic system.
After completing this unit, you should be able to: Apply the principles of present value to natural resource development, apply marginal analysis to answer the question of how clean is clean enough, apply the concept of externalities to explain why pollution warrants government interventions in the market, demonstrate why pollution is much more likely to occur on publicly owned property than on private property,...
When you finish this chapter, you should: Describe how poverty is measured, summarize the demographics of poverty in the United States, and show how the percentage of the population that is poor has changed through the last 40 years; enumerate the significant problems associated with the federal government’s official poverty rate; list and describe the myriad programs that exist for the poor;...
This book addresses the evolutionary stage of Chemical Engineering and provides an
overview to the state of the art and technological advancements. Chemical
Engineering applications have always been challenging. Optimization of plausible
solutions to problems in economic manner through technology is worth. The script has
been designed to enable the reader to access the desired knowledge on fundamentals
and advancements in Chemical Engineering in a single text.
Invasive alien plants are harmful non-native plant species whose introduction
or spread threatens the environment, the economy, and society,
including human health. They can be introduced into Canada from other
countries or continents, or from one region of Canada to another. The current
threats posed by invasive alien plants are real and growing.
Why are invasive alien plants a problem? The economic cost of invasive alien
plants to Canadians is enormous. Weeds in crops and pastures alone cost an
estimated $2.2 billion annually.
You know the feeling, sure you do. You sit with your elbows propped against your desk,
staring intently at your computer screen. You've been doing this for some time now, and soon
enough, you feel it. That tense, grinding feeling beginning to built in your temples. You rub
them with your fingers and you let out a long, tired sigh…. Windows XP has got you again.
Around the world, many fisheries are shared fisheries in the sense that a common fish stock is accessed by both
commercial and non-commercial fishers. Non-commercial fishers can include recreational fishers, or customary fishers,
or both. A prevalent problem in these fisheries is competition between commercial and non-commercial fishers for
access to a resource that is subject to increasing utilisation pressure.
Discovering Artificial Economics is an informal introduction to the ideas of modern systems theory and self-organization as they apply to problems in the economic realm. David Batten interleaves anecdotes and stories with technical discussions, in order to provide the general reader with a good feel for how economies
This is where your advisor can play a big role. If you've really made your analysis as
simple as possible, it is a) less likely to contain an error, and b) any errors that remain
will be easier to nd.
This brings me to another common problem. When you've worked on a topic for several
months|or even several weeks|you tend to lose a lot of perspective : : : literally. You're
just too close to the work to really get a picture of what is going on. This lack of perspective
takes one of two forms: rst, you may think something is obvious when it really...
Chapter 1 - limits, alternatives, and choices. In this chapter, you will learn to: Define economics and the features of the economic perspective, describe the role of economic theory in economics, distinguish microeconomics from macroeconomics and positive economics from normative economics, list the categories of scarce resources and delineate the nature of the economizing problem.
Chapter 34 - Financial economics. After studying this chapter you will be able to understand: Describe the idea of present value and explain why it is critical in making financial decisions; identify and distinguish between the most common financial investments: stocks, bonds, and mutual funds; discuss how investment returns compensate for being patient and for bearing risk;...
After completing this chapter, students will be able to: Describe the idea of present value and explain why it is critical in making financial decisions; identify and distinguish between the most common financial investments: stocks, bonds, and mutual funds; discuss how investment returns compensate for being patient and for bearing risk; explain portfolio diversification and why it implies that investors can focus on nondiversifiable risk when evaluating an investment opportunity.
After reading this chapter, you should be able to: Define economics and the features of the economic perspective, describe the role of economic theory in economics, distinguish microeconomics from macroeconomics and positive economics from normative economics, list the categories of scarce resources and delineate the nature of the economizing problem,...
Economics is a social science that studies individu-
als and organizations engaged in the production, dis-
tribution, and consumption of goods and services.
The goal is to predict economic occurrences and to
develop policies that might prevent or correct such
problems as unemployment, inﬂation, or waste in the
The Asian financial crisis has generated a lot of research, analysis and debate. The exact causes of the crisis are not firmly established, although various hypotheses have been offered. This paper presents one view of the genesis of the East Asian crisis. Several explanations are examined: managed exchange rates, over and undervalued currencies, crony capitalism, asset bubbles, Japanese devaluation, or “too much” capital account liberalization. A large part of the analysis centers around the proposition that the regime of managed exchange rates was at the core of the problem.
Following World War II, the high quality, technologically advanced products of the United States dominated world markets. With the oil shock of the 1970s, however, many of the economic advantages associated with cheap petroleum were lost and the recovered economies of Europe and Asia emerged as strong competitors in many product areas. The innovative technologies of the US could no longer insulate industries from the customer oriented approaches of European and Asian producers.
The world is near the bottom of a global recession that is causing widespread business
contraction, increases in unemployment, and shrinking government revenues. Although recent
data indicate the large industrialized economies may have reached bottom and are beginning to
recover, for the most part, unemployment is still rising. Numerous small banks and households
still face huge problems in restoring their balance sheets, and unemployment has combined with
sub-prime loans to keep home foreclosures at a high rate.