Combined Transport Documents provides a comprehensive guide to combined transport or multi-modal contracts. It examines the main contracts that deal with combined transport logically, from those concerned with the procuring of tonnage through to those that deal with general average and salvage. It also focuses on the complicated chains of indemnity particular to multimember consortium operations and explains in substantial detail a recommended draft bill of lading contract of carriage which the author himself developed. Combined Transport Documents provides a comprehensive guide to combined transport or multi-modal contracts. It examines the main contracts that deal with combined transport logically, from those concerned with the procuring of tonnage through to those that deal with general average and salvage. It also focuses on the complicated chains of indemnity particular to multi-member consortium operations and explains in substantial detail a recommended draft bill of lading contract of carriage which the author himself developed.

This exercise book is comprised of questions covering topics in Differential and Integral Calculus, Matrix Algebra and Linear Programming. The aim of the work is to develop student competency in using mathematical techniques as a “toolbox” for the solution of problems relevant to Economics, Business and Finance.

The book provides an introductory revision chapter of basic mathematical principles followed by chapters of multiple-choice questions each covering a particular section of the work.

In addition to multiple-choice questions, there are extension tutorials requiring written responses and sample tests covering each section of the work. Answers are provided to each question at the back of the book together with a formula sheet for easy reference.

Help students learn what taxes are, how they work, and why they exist. This nonfiction book describes the purpose and history of taxes, and includes a glossary, short fiction piece related to the topic, and an exciting activity. Above all, this book explains how taxes function in society in an easy-to-understand way. This 32-page full-color book covers how taxes work, the different types of taxes, and what taxes pay for. It also explores important topics like civic duty and democracy and includes an extension activity for grade 3. Perfect for the classroom, at-home learning, or homeschool to discover taxation, money, and public goods and services.

Doing well with money isn't necessarily about what you know. It's about how you behave. And behavior is hard to teach, even to really smart people. Money-investing, personal finance, and business decisions-is typically taught as a math-based field, where data and formulas tell us exactly what to do. But in the real world people don't make financial decisions on a spreadsheet. They make them at the dinner table, or in a meeting room, where personal history, your own unique view of the world, ego, pride, marketing, and odd incentives are scrambled together. In The Psychology of Money, award-winning author Morgan Housel shares 19 short stories exploring the strange ways people think about money and teaches you how to make better sense of one of life's most important topics.

Auditing and Assurance Services: An Integrated Approach, the definitive introductory text on auditing, focuses on the auditor’s decision-making process—whether during a financial statement audit or during an integrated audit of both financial statements and internal control over financial reporting. Comprehensive and up to date, the text uses examples from the complex, current global auditing environment, such as the United Kingdom’s Financial Reporting Council highlighting a lack of skepticism as a major concern; the challenges of auditing crypto-assets; and the debate over climate-related risk assessment, to illustrate the nature and amount of evidence gathering needed at each engagement. Using key audit decisions—like establishing the objectives in a given audit area; identifying the risks related to the engagement; determining the evidence needed; and evaluating the evidence obtained—as its foundation, this text equips students with the skills to successfully conduct an audit according to internationally recognized financial reporting frameworks. The 18th Edition, Global Edition, contains the latest standards and codes as well as new data analysis and sample CPA-style questions to help you prepare for the actual exam.

In late 2008, as the global financial crisis was spreading, so too was protectionism. Despite pledges by G20 and APEC leaders, tariffs were being raised in developing countries and industrialised nations had launched a slew of investigations into "dumped" imports as a means of justifying tariff hikes. The futility of protectionism in a global recession is not a new lesson now and was not a new lesson then - every world leader is and was well aware of the role protectionism played in exacerbating the Great Depression. But even as the global economy is recovering, leaders continue to find themselves torn. Their heart tells them to help industries and workers under stress; their head tells them protectionism will backfire. This book, first published as an eBook in December 2008, collects essays from world-class economists on what global leaders must do to halt the slide towards protectionism. It identifies three areas where world leaders should act: / World leaders must finalise the WTO's Doha negotiations. WTO rules remain the world's best bulwark against 1930s-style trade wars. / All nations should commit to a standstill on raising their applied tariffs and other forms of protection. / Industrialised and developing nations should refrain from initiating new antidumping cases, and postpone imposing antidumping duties wherever possible - economic nationalism should not be allowed to creep in. With protectionism continuing to threaten global prosperity, many of this book's recommendations hold true today.

In late 2008 the world was at a dangerous point. Governments and central banks had just about stopped the bleeding in their financial systems following the fall of Lehman Brothers, but they were unprepared for the recession that was to infect all parts of the global economy and become a truly global crisis. This book, first published as an eBook to coincide with the November 2008 G20 meeting in Washington, provides the views of some of the world's leading economists on what world leaders needed to do - act quickly in: / The financial sector to strengthen and coordinate emergency measures to staunch the bleeding / The real sector using fiscal stimulus to get the patient's heart pumping again / The global arena to empower the IMF and other existing institutions to deal with the crisis in emerging markets. Above all, though, the recommendation was to do no harm. The authors knew that the wrong outcome from this meeting could have damaged the world economy rather than repair it. Fortunately, much of their advice was heeded. And while events have moved on, policymakers and opinion formers today could still do with a refresher. The authors are: Alberto Alesina, Erik Berglof, Willem Buiter, Guillermo Calvo, Stijn Claessens, Paul De Grauwe, Wendy Dobson, Barry Eichengreen, Daniel Gros, Refet Gurkaynak, Takatoshi Ito, Vijay Joshi, Yung Chul Park, Raghuram Rajan, Dani Rodrik, Michael Spence, Guido Tabellini, David Vines, Ernesto Zedillo and Jeromin Zettelmeyer.

In the days following the fall of Lehman Brothers in autumn 2008, confidence in the global economy was in freefall. This book, first published as an eBook only a few weeks after the event, outlines the fears of some of the world's leading economists that the unfolding financial market meltdown had the potential to trigger a massive and prolonged recession that would destroy hundreds of millions of jobs worldwide and wipe out the savings of countless households - with the most vulnerable being hit hardest. They were not wrong. The authors call for policymakers to embark on forceful and coordinated action to avoid the next Great Depression. While their essays differ on many points, a clear consensus emerges on the need to act swiftly and together. The authors are: Alberto Alesina, Michael Burda, Charles Calomiris, Roger Craine, Stijn Claessens, J Bradford DeLong, Douglas Diamond, Barry Eichengreen, Daniel Gros, Luigi Guiso, Anil K Kashyap, Marco Pagano, Avinash Persaud, Richard Portes, Raghuram G Rajan, Guido Tabellini, Angel Ubide, Charles Wyplosz and Klaus Zimmermann.

The global financial crisis has changed finance and the global economy forever. The debate over its causes and consequences has only just begun. This book brings together VoxEU.org columns written during the height of the storm from June to December 2008, offering a glimpse of history in the making through the eyes of some of the world's leading economists. To help place individual contributions within this historical sequence, an appendix updates the timeline of events from our June publication up to December 2008. Another appendix provides a glossary of technical terms. The columns are grouped under three headings: / How did the crisis spread around the world? / How has the crisis upended traditional thinking about financial economics? / How should we fix the economy and financial system?

This book is the first coherent quantified assessment of the economy of the Roman Empire. George Maher argues inventively and rigorously for a much higher level of growth and prosperity than has hitherto been imagined, and also explains why, nonetheless, the Roman Empire did not achieve the transition which began in Georgian Britain. This book will have an enormous impact on Roman history and be required reading for all teachers and students in the field. It will also interest and provoke historians of the medieval and early modern periods into wondering why their economies failed to match the Roman level. Part of the problem in assessing the Roman economy is that we do not have much in the way of numerical data, but Roman historians, who rarely have much statistical expertise, have not always recognised the potential of the data we do have. Dr Maher's reassessment of the economy of the Roman Empire has to use the same data as everyone else, but he is able to draw strikingly novel conclusions in two ways: first, by more statistically sophisticated use of a few crucial datasets and, second, by correlating and drawing a coherent picture across the whole economy. On grain yields, firstly, instead of getting bogged down in details of individual cases, George Maher shows how there is a remarkably consistent pattern from which outliers can be excluded, showing yields were much higher than normally assumed. He then demonstrates that high yields are in fact necessary to explain the exceptional urbanization of the Empire. Urbanization at this level in turn, as George Maher shows, has implications for consumption and commerce. He takes this further to show how high levels of trade imply high levels of sophistication in economic practices and mentality. In one of his most methodologically novel chapters, George Maher develops a new and simpler way of assessing average life expectancy and argues for a life expectancy almost double the traditional view. This book, Dr George Maher's doctoral thesis, is the theoretical underpinning of his book Pugnare: Economic Success and Failure.

When the investment bank Lehman Brothers filed for bankruptcy in late 2008, the news sent shockwaves across the global economy. The drop in confidence decimated world trade, leading to what the authors of this book call the Great Trade Collapse. The fall in trade was sudden, severe and synchronised - falling faster than during the Great Depression and by more than at any time since the Second World War; more than during the oil-price hikes of the 1970s, the recession of the early 1980s and the bursting of the dotcom bubble in 2001. It affected all 104 nations on which the WTO reports. This book, first published as an eBook on VoxEU.org to inform world leaders ahead of the WTO's Trade Ministerial conference in Geneva in late 2009, presents the economics profession's received wisdom on the causes, consequence and prospects of the Great Trade Collapse - a wisdom that continues to serve the trade community today. The authors are: Dony Alex, Carlo Altomonte, Sonia Araujo, Richard Baldwin, Rudolfs Bems, Fred Bergsten, Gilberto Biacuna, Ingo Borchert, Peter Draper, Simon Evenett, Michael Ferrantino, Lionel Fontagne, Joseph Francois, Caroline Freund, Jeffry Frieden, Guillaume Gaulier, Leonardo Iacovone, David Jacks, Robert Johnson, Tonia Kandiero, Anne Krueger, Rajiv Kumar, Aimee Larsen, Andrei Levchenko, Logan Lewis, Aaditya Mattoo, Christopher Meissner, Jesse Mora, Leonce Ndikumana, Dennis Novy, Joaquim Oliveira Martins, Kevin O'Rourke, Gianmarco Ottaviano, William Powers, Raymond Robertson, Peter Schott, Daria Taglioni, Kiyoyasu Tanaka, Linda Tesar, Ruyhei Wakasugi, Julia Woerz, Kei-Mu Yi, Veronika Zavacka.

This clear and concise Advanced Introduction to National Accounting explores the post-1960 modernization of national accounting. John M. Hartwick offers insights into the arrival of Total Factor Productivity (TFP) and user cost, highlighting the importance of Tornqvist index numbers and translog production, cost and utility functions in its modernization. Key features include: an exploration of personal income distribution and national accounting an exposition of the links between various forms of utility functions and index numbers a chapter devoted to the incorporation of the decline in stocks of natural capital into the national accounts a report on the measurement of welfare and GDP change arising from technical change and shifts in a nation's terms of trade. An important read for economics and accounting scholars, this Advanced Introduction offers useful insights to the key topics around national accounting. It will be a helpful tool for students on advanced macroeconomics and economics of natural resources courses.

The G20 meeting in London in spring 2009 was a historical moment of global cooperation to deal with the global financial crisis. This book collects essays from leading economists, first presented as an eBook in January 2009, advocating many of the policies that were eventually agreed on, including the headline-grabbing global fiscal stimulus. But it goes further, calling for: / Reforms to address global imbalances by a) creating insurance mechanisms for countries that forgo reserve accumulation and stimulate domestic expansion; and b) accelerating the development of financial systems in emerging markets. / Macroeconomic policy to meet any threat of deflation promptly, with a zero interest rate policy and quantitative easing, and an inflation target to avoid expectations of deflation. / Adjustment of the Basel II capital requirements to mitigate procyclicality. / Creation of a centralised clearing counterparty for credit default swap trades. / Severing the link between credit rating agencies and issuers and monitoring the former's power. / Establishment of a harmonised bankruptcy regime for banks that gives regulators strong powers over bank managers and shareholders before the bank is technically insolvent, especially in the case of cross-border banks. / Creation of an International Financial Stability Fund that takes equity positions in the financial institutions of participating countries and monitors their activities. Many of these suggestions are still being debated today.

This title is the first of its kind in South Africa. It comprehensively covers the South African tax and exchange control provisions which apply to local and foreign trusts. In addition to normal discretionary trusts, the taxation of the following types of trusts is covered: business trusts; charitable trusts; BEE trusts; employee share scheme trusts; offshore trusts; special trusts; asset protection; will trusts. The following types of taxes are also discussed in a trust context: Income Tax; CGT; Transfer Duty; Donations Tax; Estate Duty; International Tax; Transfer Pricing; VAT. The first-ever book exclusively covering the direct and indirect taxation of trusts in South Africa, including a chapter on the application of the exchange control regulations to both onshore and offshore trusts.

The global financial crisis of 2008/9 is the Great Depression of the 21st century. For many though, the similarities stop at the Wall Street Crash as the current generation of policymakers have acted quickly to avoid the mistakes of the past. Yet the global crisis has made room for mistakes all of its own. While governments have apparently kept to their word on refraining from protectionist measures in the style of 1930s tariffs, there has been a disturbing rise in "murky protectionism." Seemingly benign, these crisis-linked policies are twisted to favour domestic firms, workers and investors. This book, first published as an eBook on VoxEU.org in March 2009, brings together leading trade policy practitioners and experts - including Australian Trade Minister Simon Crean and former Mexican President Ernesto Zedillo. Initially its aim was to advise policymakers heading in to the G20 meeting in London, but since the threat of murky protectionism persists, so too do their warnings.

Elgar Advanced Introductions are stimulating and thoughtful introductions to major fields in the social sciences, business and law, expertly written by the world's leading scholars. Designed to be accessible yet rigorous, they offer concise and lucid surveys of the substantive and policy issues associated with discrete subject areas. Taking a detailed tour through the emerging economic field of financial inclusion, this timely book charts the subtle conceptual shifts that gave rise to the focus on inclusivity in development finance, and provides an overview of key concepts, issues, and empirical findings. Diving into the crucial interaction of financial inclusion with gender, further chapters present new conceptual frameworks for thinking about these interactions, as well as discussing the impacts of gendered financial exclusion on both economic and empowerment outcomes. Key Features: Comprehensive introduction to the theory and practice of financial inclusion Accessible style, with focus boxes detailing more advanced material In-depth analysis of the relationship between female empowerment and financial inclusion Up to date discussions of recent developments in FinTech, the impact of microfinance, and the new frontiers of financial inclusion research Discussing what is known about the economic impacts of financial inclusion and what is still to be discovered, this book is an ideal companion for students and researchers of development finance and economics. It aims to inspire current and future cohorts of researchers and policymakers, as well as practitioners with an interest in financial inclusion.

The New York Times bestseller from business journalist Christopher Leonard infiltrates one of America’s most mysterious institutions—the Federal Reserve—to show how its policies spearheaded by Chairman Jerome Powell over the past ten years have accelerated income inequality and put our country’s economic stability at risk. If you asked most people what forces led to today’s unprecedented income inequality and financial crashes, no one would say the Federal Reserve. For most of its history, the Fed has enjoyed the fawning adoration of the press. When the economy grew, it was credited to the Fed. When the economy imploded in 2008, the Fed got credit for rescuing us. But here, for the first time, is the inside story of how the Fed has reshaped the American economy for the worse. It all started on November 3, 2010, when the Fed began a radical intervention called quantitative easing. In just a few short years, the Fed more than quadrupled the money supply with one goal: to encourage banks and other investors to extend more risky debt. Leaders at the Fed knew that they were undertaking a bold experiment that would produce few real jobs, with long-term risks that were hard to measure. But the Fed proceeded anyway…and then found itself trapped. Once it printed all that money, there was no way to withdraw it from circulation. The Fed tried several times, only to see the market start to crash, at which point the Fed turned the money spigot back on. That’s what it did when COVID hit, printing 300 years’ worth of money in a few short months. Which brings us to now: Ten years on, the gap between the rich and poor has grown dramatically, inflation is raging, and the stock market is driven by boom, busts, and bailouts. Middle-class Americans seem stuck in a stage of permanent stagnation, with wage gains wiped out by high prices even as they remain buried under credit card debt, car loan debt, and student debt. Meanwhile, the “too big to fail” banks remain bigger and more powerful than ever while the richest Americans enjoy the gains of a hyper-charged financial system. The Lords of Easy Money “skillfully” (The Wall Street Journal) tells the “fascinating” (The New York Times) tale of how quantitative easing is imperiling the American economy through the story of the one man who tried to warn us. This is the first inside story of how we really got here—and why our economy rests on such unstable ground.

The latest edition in the Principles of Corporate Finance dynasty, the 14th edition continues in its tradition of showing how theory applies to the very practical problems and decisions faced by financial managers. Looking at what financial managers do and why, the book aims to give readers a solid understanding of theory so that they know what questions to ask when times change and new problems need to be analyzed, eventually standing as a reference and a guide to help them make financial decisions, not just study them. This new edition welcomes Alex Edmans to the author team, whose global authority and expertise in corporate governance, responsible business and behavioural finance have been invaluable in bolstering coverage of these topics. A new chapter is entirely dedicated to the subject of balancing shareholder value with promoting the interests of all stakeholders, the potential conflicts inherent in this, and how a responsible business should behave. There have been several changes to chapter structure as well as expanded discussion of issues that have grown in importance since the previous edition including behavioural finance, and financial innovation driven by AI, big data and cloud computing. It has also grown to take a more international focus, to bring in more information and perspectives on major developing economies such as China and India, and looking at how financing and governance systems differ around the world. The new edition retains and builds on the pedagogical features of previous editions, with new chapter content summaries, new self-test questions interspersed at key points, and a raft of 'Beyond the page' examples available online through links in the text. Click here to view the sample chapter

For undergraduate courses in derivatives, options and futures, financial engineering, financial mathematics, and risk management. A reader-friendly book with an abundance of numerical and real-life examples. Based on Hull's Options, Futures and Other Derivatives, Fundamentals of Futures and Options Markets presents an accessible and student-friendly overview of the topic without the use of calculus. Packed with numerical examples and accounts of real-life situations, this text effectively guides students through the material while helping them prepare for the working world.