'Business Economics: Theory and Application' is an undaunting and accessible text that focuses on the real world of business and how this relates to economics.
The links to business are far more intrinsic that in other business economics textbooks where a business "flavour" is simply added to traditional economics theory. It provides an in-depth jargon-free analysis, particularly relevant for one semester courses. A variety of case studies and questions are used throughout the text both to illustrate key points and for seminar and assignment work. Diagrams are included to aid the explanation of complex issues, and review and discussion questions are incorporated to consolidate and expand on the learning. A lecturer's supplement accompanies the text.
Accessible and undaunting approach for students with very little prior knowledge of the subject
Includes economic theory which is used to explore and analyse business issues and application of this theory through international case studies
Demonstrates the links between economics, strategy and marketing

The papers collected here were originally presented at a conference on multinational culture held at Hofstra University to explore the sociocultural impacts of the transformation to a global economy. Written by a distinguished group of contributors from Africa, Asia, Europe, Latin America, the Caribbean, and North America, the essays address such questions as: Which particular changes have already taken root? How can we assess the efficacy of interventions by nation states and transnational authorities? How are the globe's resources being managed and how should they be managed in the future? Specific topics explored include government policies and their relationship to multinational activities, the formation and regulation of international capital, labor market segmentation and protectionism, managing multinationals without sacrificing ethical standards or profits, environmental impacts, and the language, legal, gender, and race dimensions of a global economy. Following a general introduction, the volume is divided into six groups of chapters, each of which examines a specific aspect of global transition. The contributors first look at the more general issues of global movements and global policies, with articles on critical social movements and the future of the global political economy, the evolution of multinational public policy towards business, and the implications of internationalization for development and welfare in the Third World. The next section describes globalization's reach into the arenas of monetary policy, banking, financing, and debt. Subsequent chapters look at the explicit and implict prejudices and differences that can undermine or enhance our global experience, present case studies of the contradictory imperatives between indigenous culture and globalization, affirm the importance of collective action in protecting labor and the environment, and consider the controversial and multifaceted nature of technology transfer. The diversity of topics and perspectives presented make this an ideal set of supplemental readings for advanced level courses in development economics, political economy, and international economics.

This volume explores the wide diversity in the kinds of networks that have been established between firms in Japan and the Pacific Rim. Editor W. Mark Fruin shows how networks in Japan and Korea are more prescribed and standardized than those found in the United States. For example, Toyota's satellite organizational system is more flexible, open-ended, and market-conforming than General Motors divisional organization. But less market-conforming networks can also arise. In China, for example, networks have arisen because of the unpredictable nature of markets. The contributors to this volume utilize new ideas and data to formulate an understanding of the importance of networks to the success of Asian firms. The book's postmodern approach--seeking not a single model but rather a variety of models of equally probable validity--makes it a unique resource for scholars and professionals in the field.

Through a compliance with the neoliberal doctrines associated with the Washington Consensus, and the corresponding emphasis on the privitization of public assets, the promotion of well-defined property rights and a focus on price and trade liberalisation, developing countries have been promised that 'natural economic institutions' will form. However, despite the promotion of these doctrines, the 1980s and 1990s have come to be known as the 'lost decades of development': a period of long economic stagnation in most parts of the developing world, with little sign of the income level of the developing world converging with that of developed countries. In this book, Dic Lo re-examines the mainstream policy doctrines of globalization, and formulates explanations for the uneven development of recent years. Through a comparative analysis of the actual experiences of developing nations and their policy positions, this book clarifies the positive and negative lessons that can be learned by developing countries. Dic Lo also undertakes an examination of the theoretical underpinnings of the competing doctrines of institutions and development, with a view to creating a synthesis that transcends neoliberalism, instead emphasising solidarity and humanistic development.

In recent decades, the financial markets have experienced various crises, shocks and disruptive events, driving high levels of volatility. This volatility is too strong to be fully justified simply by changes in fundamentals. This volume discusses these highly relevant issues with special focus on asset pricing and behavioral finance. Financial price assets of the 2020s appear to be driven by various attractors in addition to fundamentals, and there is no doubt that investor emotions, market sentiment, the news, and external factors such as uncertainty all play a key role. This has been clearly observed in recent years, especially during the ongoing coronavirus pandemic that has changed the common perception of the way financial markets work.

Based largely upon data derived from federal estate tax returns, this report investigates the distribution of wealth in the United States in the years 1922-56, and finds important changes in the degree of economic inequality. More than 100 tables and 37 charts illustrate the author's findings.

'Fisher's book will appeal to scholars interested in historical macroeconomics and the industrial revolution. It suggests promising directions for future research, and it contains vast amounts of useful information. In time, specialists may find it to be an indispensable reference.'- Gary Richardson, Journal of Economic History;In this study of the European economy from 1700 to 1910, the macroeconomic data from five countries is examined both descriptively and analytically (using structural and time-series methods). The UK receives three chapters, in view of the extensive literature in that case, while France, Germany, Italy and Sweden are each covered in a separate chapter.

After decades of effortless growth and prosperity, America's postsecondary institutions of education have come under increasing financial stress and waning public support. In part, this stress reflects a slowdown in the real rate of national economic growth and the loss of federal and state revenues for education generally. It also reflects a trend of state legislatures simply giving higher education an ever lower ranking on the list of funding priorities. Postsecondary educational institutions in the United States will continue to face increasing financial stress and waning public support as critics question the contribution of higher education to economic growth, which historically has been a major rationale for funding. Unless the trends in education financing can be changed, higher edu cation can be expected to stagnate. What, if anything, can be done? As a starting point, advocates of higher education need to more fully recognize the important ways in which higher education influences technological change and also is influenced by that change. As demonstrated by the chapters in this book, higher education is not a neutral or passive player in economic growth. This volume addresses topics related to the role of postsecondary education in national economic development within the United States."

This book studies unemployment and inflation in economic crises, first considering the scenario of a demand shock in Europe. In that case, monetary and fiscal interaction would cause widespread oscillations in European unemployment and European inflation. And what is more, there would be equally far-reaching fluctuations in the European money supply and European government purchases. These monetary and fiscal interactions would have no effects on the American economy. Second, it examines the scenario of a supply shock in Europe, in which monetary and fiscal interactions would have no effects on European unemployment or European inflation; there would also be an explosion of European government purchases and an implosion of the European money supply. Monetary and fiscal interactions would produce uniform oscillations in American unemployment and American inflation. Lastly, we would also see an implosion of both the American money supply and American government purchases.

While offering many growth-enhancing opportunities, India's ever-increasing integration with the world economy has given rise to a host of new challenges in managing the economy. This book provides an up-to-date empirical assessment of some of India's crucial policy challenges pertaining to its monetary and external sector management.

The fourteen papers presented in this volume are thought-provoking studies of the economic adjustment of Latin America to the difficult external environment of the 1980s. The anthology evolved out of a group of papers presented at the Third Dominican Republic Conference on International Debt and Adjustment in 1986. A number of the papers were updated and are presented here along with new ones written especially for this collection. The debt problems of Latin America form the background for the analyses undertaken by the articles in the book. The articles go beyond description of the debt problems to offer insights on the more fundamental long-range problems facing policy makers in the region. Positive analyses into the nature of the adjustment process and insights into future institutional changes that could improve the functioning of the Latin American economies highlight the book.

The papers are divided into major topics of concern. The transmission of external shocks to the region and instability to the financial markets are covered. Fiscal constraints, labor market adjustment, exchange rates, and the political economy of adjustment as each relates to the external shocks of the 1980s are investigated. A major essay by Montague Lord shows Latin American potential to reap substantial gains by pursuing policies to encourage expansion of its resource-based comparative-advantage activities. The essays in "Latin American Debt and Adjustment" provide a starting point for the consideration of some of the deeper problems that need to be addressed by any meaningful attempt to improve the market-oriented economies of the region.

The scope of this volume is primarily to analyze from different methodological perspectives similar valuation and optimization problems arising in financial applications, aimed at facilitating a theoretical and computational integration between methods largely regarded as alternatives. Increasingly in recent years, financial management problems such as strategic asset allocation, asset-liability management, as well as asset pricing problems, have been presented in the literature adopting formulation and solution approaches rooted in stochastic programming, robust optimization, stochastic dynamic programming (including approximate SDP) methods, as well as policy rule optimization, heuristic approaches and others. The aim of the volume is to facilitate the comprehension of the modeling and methodological potentials of those methods, thus their common assumptions and peculiarities, relying on similar financial problems. The volume will address different valuation problems common in finance related to: asset pricing, optimal portfolio management, risk measurement, risk control and asset-liability management.The volume features chapters of theoretical and practical relevance clarifying recent advances in the associated applied field from different standpoints, relying on similar valuation problems and, as mentioned, facilitating a mutual and beneficial methodological and theoretical knowledge transfer. The distinctive aspects of the volume can be summarized as follows: Strong benchmarking philosophy, with contributors explicitly asked to underline current limits and desirable developments in their areas. Theoretical contributions, aimed at advancing the state-of-the-art in the given domain with a clear potential for applications The inclusion of an algorithmic-computational discussion of issues arising on similar valuation problems across different methods. Variety of applications: rarely is it possible within a single volume to consider and analyze different, and possibly competing, alternative optimization techniques applied to well-identified financial valuation problems. Clear definition of the current state-of-the-art in each methodological and applied area to facilitate future research directions.

Written by two leading experts on multinational accounting and billion-dollar international investment funds, this book provides a framework for a global reform of the world monetary system, and defines a decidedly new approach to dealing with public debt mortgage, an issue that we can see in many countries in Europe and around the world. The authors put forward a proposal for transforming sterile financial masses, which are withdrawn from the real economy as they no longer bear interest, into wealth. To facilitate this return to the real economy, the authors propose that a significant share of public debt be converted into net equities in the world of business and goods production in order to find new profitable investment projects. The idea is bold, and the authors strive to demonstrate its technical feasibility. They are convinced that this approach can accompany and enhance a movement that has already begun, namely the implementation of vast national and international investment programs in major infrastructures and research projects in innovative sectors. This work builds on the authors’ two previous books, which focus on the monetary system. The first, published in 2010 and including a foreword by former French Finance Minister Christine Lagarde, analyzes the new virtual dimension of money. The second, published in 2014, puts forward an innovative proposal for a new financial regulation aimed at more stable economies. This third book is intended for professionals in the financial industry, including decision makers at banks, accounting and private equity firms, as well as policymakers at central banks and government institutions involved in the implementation of financial and monetary reforms.

This book contains an extensive up-to-date overview of nonlinear time series models and their application to modelling economic relationships. It considers nonlinear models in stationary and nonstationary frameworks, and both parametric and nonparametric models are discussed. The book contains examples of nonlinear models in economic theory and presents the most common nonlinear time series models. Importantly, it shows the reader how to apply these models in practice. For this purpose, the building of various nonlinear models with its three stages of model building: specification, estimation and evaluation, is discussed in detail and is illustrated by several examples involving both economic and non-economic data. Since estimation of nonlinear time series models is carried out using numerical algorithms, the book contains a chapter on estimating parametric nonlinear models and another on estimating nonparametric ones.
Forecasting is a major reason for building time series models, linear or nonlinear. The book contains a discussion on forecasting with nonlinear models, both parametric and nonparametric, and considers numerical techniques necessary for computing multi-period forecasts from them. The main focus of the book is on models of the conditional mean, but models of the conditional variance, mainly those of autoregressive conditional heteroskedasticity, receive attention as well. A separate chapter is devoted to state space models. As a whole, the book is an indispensable tool for researchers interested in nonlinear time series and is also suitable for teaching courses in econometrics and time series analysis.

Much has been written about the rise of the Asian economies in recent decades, and their coming economic dominance in the next century. The New Asian Emperors shows how and why overseas Chinese companies are achieving dominance in the Asia Pacific. In the wake of the Asian Currency crisis, this book takes a fresh look at the role of the overseas Chinese as they continue to create some of Asia's most wealthy and successful companies.
In particular, the authors tackle the principal difference between Western and Eastern business practices. The overseas Chinese, due to their origins and history developed a unique form of management - now they maintain it as their competitive advantage.
Although Asian governments are currently floundering, the overseas Chinese networks continue to prosper. The authors explain the following to Eastern and Western managers:
the sources and characteristics of overseas Chinese management,
how to combat the overseas Chinese,
the strengths and exploitable weaknesses of the overseas Chinese,
whether overseas Chinese management practices will spread in the same way as Japanese management did,
whether Western management technologies will find themselves outclassed.
A feature of the book are the exclusive, in-depth interviews with the New Asian
Emperors since most of them avoid the press and little is known of them.
- Develops a systematic theory of the Overseas Chinese networks and how they strategize
- Draws on interviews with CEOs of major Overseas Chinese companies, many of whom have never granted interviews before to academics

Contents:
Tables Figures Abbreviations Glossary of Translated Terms Acknowledgements Introduction Introduction: Market Reform and the State 1. The Chinese State from Plan to Market 2. Tianjin: the Government of a City Under Reform Case Studies in the Emergence of State Entrepreneurialism 3. The State Administration of Real Estate and its Reform 4. Market Reform and its Limits: Entrepreneurialism in Real Estate Management Departments 5. The State Administration of Commerce and its Reform 6. The Encroaching Market: Entrepreneurialism in Commerce Departments Conclusion 7. Conclusion: The Entrepreneurial State Appendices A. Methodological Notes B. Tianjin

This set reprints works by, and about, Swedish economists working between the turn of the century and 1960. The volumes contain a number of recent articles, monographs and collections of essays. Examples are given of the lively involvement in public affairs and public discussions by the generations of economists under consideration. The editor provides an overview of Swedish economics, as well as growth and specialization within the discipline. Amongst the schools and individuals included are the early neo-classical scholars Knut Wicksell, Gustav Cassel and Eli Heckscher, the Stockholm School, including Erik Lindahl, Gunner Myrdal, Bertil Ohlin, Erik Lundberg and politically influential trade economists such as Rudolf Meidner and Gosta Rehn.

This book investigates, from a Keynesian perspective, the interaction of effective demand with the wage-price spiral, the dependence of goods market outcomes on financial markets, and the impact of monetary policy on financial and real markets. These issues are discussed by way of rigorously formulated approaches that lay foundations for a theory of endogenously generated business fluctuations.
The material is presented on three levels of generality: an introductory level that motivates the theoretical approach, a research-oriented level that shows how the interaction of real with financial markets has to be modeled from an integrative Keynesian perspective, and an advanced textbook level that extends the traditional Keynesian approach to open economies. The main findings indicate that balanced growth in capitalist economies is unlikely due to changes in behavioral factors that drive the wage-price spiral and the financial markets.
This book is essential reading for advanced level macroeconomic modules and for those interested in both traditional macroeconomics and the dominant neoclassical approach of the New Keynesians.

This collection offers a reference work to all those interested in the contemporary development of one of the world's largest and most influential economies. The set addresses key issues for the Japanese economy in the post-war decades, including: the relationship between capital market transformation and economic growth; labour markets and the increasing demands for structural change; current industrial policy, in the late 1990s, and it's relationship to governance; and macroeconomic conditions and their effect on microeconomic policies. The articles reprinted here explore many of Japan's factor markets, as well as the public policies that have affected their operation. They also examine the role of capital and labour markets in determining the trajectory of economic growth. They conclude that the institutions and policies determining this growth will have to either adapt or increasingly lose their efficiency and relevance.

Deftly attacking by logic and statistics the dominant pessimism concerning future US economic and military power, Ross instead sees greater progress over the next two or three decades than during the last--a fifth rising phase of a Kondratiev cycle. The central force will consist of a surging rate of technological advance resulting from such innovations as the electronic computer in combination with solid state application; energy-related superconductivity and fusion; biotechnology and space; etc. . . .An excellent, sprightly, and scholarly reply to recent doomsayers. "Choice"

This groundbreaking work challenges pessimistic views of the U.S. economy, arguing instead that the U.S. is on the brink of a radical economic and social transformation, primarily caused by technological advance. According to Ross, the American economy, like other market-oriented economies, is subject to long waves, or cycles. In the early 1990s, he asserts, the U.S. economy will experience the beginning of a rising phase of a long wave, with the economy growing for two or three decades. The fundamental underlying cause of the booming economy will be the momentum associated with an unprecedented rate of technological advance; it will be associated with an increase in the standard of living of the average American beyond current expectations. Written in a style accessible to both scholars and educated lay readers, A Gale of Creative Destruction is an important counterweight to the recent spate of books which posit the impending collapse of the U.S. economy.

Ross takes a unique approach to the subject by integrating structural change in the American economy with technological advance in an international setting. To build his case, he analyzes the historical long waves the U.S. economy has already seen and examines the technological advances such as superconductivity and biotechnology. He shows that such major innovations have coincided with the rising phase of long waves. He also explores changes in the workforce, the diminution of racial and gender discrimination, the increasing interdependence of the world's economies, and the tremendous strides being made toward more democratization and more vibrant market-driven economies, arguing that each of these factors will act to help fuel economic growth in the 1990s and beyond. Based on his analysis, Ross concludes that optimism about the economic future is more than warranted and that today's children will be significantly better off than their parents.

Young men choosing a traditional working career 189 Young women making modern choices 191 The struggles of young men versus the success of young women 192 CONCLUSIONS Changing economies, changing households 195 Jane Wheelock and Age Mariussen Summing up 195 Institutional comparisons: empirical analysis 197 Theoretical implications 201 Policy implications 204 Bibliography 207 Index 231 ix ILLUSTRATIONS Figures 1. 1 Institutional change as a theme in economics and sociology 15 1. 2 The household in the total economy 28 2. 1 The household in the production, reproduction and consumption cloverleaf 39 10. 1 Characteristics of the two extreme groups of farmers, 'sceptics' and 'radicals' 155 11. 1 Flexibility in the family economic unit 161 Tables ILl Changing employment structure in Wearside and Mo i Rana, selected years 67 11. 2 Employment change comparisons, Wearside!Great Britain and Mo i Rana/Norway, selected years 68 11. 3 Major industrial sectors, Wearside and Mo i Rana, selected years 69 11. 4 Employment in Wearside and Mo i Rana: gender and part-time! full-time breakdown, selected years 70 The degree of change in the organisation of household work 7. 1 116 Economic status categories and family succession 10. 1 150 12. 1 Economic position of young adults (16-29) in Newcastle 176 12.

This book discusses wide topics related to current issues in economic growth and development, international trade, macroeconomic and financial stability, inflation, monetary policy, banking, productivity, agriculture and food security. It is a collection of seventeen research papers selected based on their quality in terms of contemporary topic, newness in the methodology, and themes. All selected papers have followed an empirical approach to address research issues, and are segregated in five parts. Part one covers papers related to fiscal and price stability, monetary policy and economic growth. The second part contains works related to financial integration, capital market volatility and macroeconomic stability. Third part deals with issues related to international trade and economic growth. Part four covers topics related to productivity and firm performance. The final part discusses issues related to agriculture and food security. The book would be of interest to researchers, academicians as a ready reference on current issues in economics and finance.

This proceedings book showcases papers presented at the 2022 Rethinking Management and Economics in the (New) 20s conference in Leiria, Portugal. Rethinking Management and Economics in the (New) 20's is focused on the investigation of key challenges and perspectives of Management and Economics. The chapters in this book explore new avenues of research and cover theoretical, empirical, and experimental studies related to different themes in the global context of Management and Economics. This book contributes towards deepening our understanding of what the new problems associated with achieving the goals of management and Economics in the 2020s and present possible solutions to the problems. This book is ideal for economists, businesses, managers, accountants, practitioners, stakeholders, researchers, academicians, and students who are interested in the current issues and advancements in corporate governance and earnings management.

In these twelve essays, spanning fifteen years, Victoria Chick develops a distinctive view of macroeconomics (especially the economics of Keynes) and monetary theory. By careful and rigorous analysis in which nothing is taken for granted, she uncovers the implicit assumptions of economic theory and argues, in a variety of contexts, that differences of economic method and the influence of the stylised facts are decisive forces, both in the construction of theories and in appraising their contemporary relevance.