Essential Mathematics for Economics and Business is established as one of the leading introductory textbooks on mathematics for students of business and economics. Combining a user friendly approach to mathematics with practical applications to the subjects, the text provides students with a clear and comprehensible guide to mathematics. The fundamental mathematical concepts are explained in a simple and accessible style, using a wide selection of worked examples, progress exercises and real world applications. New to this Edition * Fully updated text with revised worked examples and updated material on Excel and Powerpoint * New exercises in mathematics and its applications to give further clarity and practice opportunities * Fully updated online material including animations and a new test bank * The fourth edition is supported by a companion website at www.wiley.com/college/bradley, which contains: Animations of selected worked examples providing students with a new way of understanding the problems Access to the Maple T.A. test bank, which features over 500 algorithmic questions Further learning material, applications, exercises and solutions. * Problems in context studies, which present the mathematics in a business or economics framework. * Updated PowerPoint slides, Excel problems and solutions. "The text is aimed at providing an introductory-level exposition of mathematical methods for economics and business students. In terms of level, pace, complexity of examples and user-friendly style the text is excellent - it genuinely recognises and meets the needs of students with minimal maths background." Colin Glass, Emeritus Professor, University of Ulster "One of the major strengths of this book is the range of exercises in both drill and applications. Also the 'worked examples' are excellent; they provide examples of the use of mathematics to realistic problems and are easy to follow." Donal Hurley, formerly of University College Cork "The most comprehensive reader in this topic yet, this book is an essential aid to the avid economist who loathes mathematics!" Amazon.co.uk

Gain an understanding of how econometrics can answer today's questions in business, policy evaluation and forecasting with Wooldridge's INTRODUCTORY ECONOMETRICS: A MODERN APPROACH, 7E. Unlike traditional texts, this book's practical, yet professional, approach demonstrates how econometrics has moved beyond a set of abstract tools to become genuinely useful for answering questions across a variety of disciplines. The author has organized the book's presentation around the type of data being analyzed with a systematic approach that only introduces assumptions as they are needed. This makes the material easier to understand and, ultimately, leads to better econometric practices. Packed with relevant applications, the text incorporates more than 100 data sets in different formats. Updates introduce the latest developments in the field, including the recent advances in the so-called "causal effects" or "treatment effects," to provide a complete understanding of the impact and importance of econometrics today.

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. This Advanced Introduction provides a critical review and discussion of research concerning spatial statistics, differentiating between it and spatial econometrics, to answer a set of core questions covering the geographic-tagging-of-data origins of the concept and its theoretical underpinnings, conceptual advances, and challenges for future scholarly work. It offers a vital tool for understanding spatial statistics and surveys how concerns about violating the independent observations assumption of statistical analysis developed into this discipline. Key Features: A concise overview of spatial statistics theory and methods, looking at parallel developments in geostatistics and spatial econometrics, highlighting the eclipsing of centography and point pattern analysis by geostatistics and spatial autoregression, and the emergence of local analysis Contemporary descriptions of popular geospatial random variables, emphasizing one- and two-parameter spatial autoregression specifications, and Moran eigenvector spatial filtering coupled with a broad coverage of statistical estimation techniques A detailed articulation of a spatial statistical workflow conceptualization The helpful insights from empirical applications of spatial statistics in agronomy, criminology, demography, economics, epidemiology, geography, remotely sensed data, urban studies, and zoology/botany, will make this book a useful tool for upper-level students in these disciplines.

Presenting innovative modelling approaches to the analysis of fiscal policy and government debt, this book moves beyond previous models that have relied upon the assumption that various age-specific rates and policy variables remain unchanged when it comes to generating government expenditures and tax revenues. As a result of population ageing, current policy settings in many countries are projected to lead to unsustainable levels of public debt; Tax Policy and Uncertainty explores models that allow for feedbacks and uncertainty to combat this. Applicable to any country, the models in the book explore the optimal timing and extent of tax changes in the face of anticipated high future debt. Chapters produce stochastic debt projections, including probability distribution of debt ratios at each point in time. It also offers important analysis of fiscal policy trade-offs as well as providing advice on when and by how much tax rates should be increased. Economics scholars focusing on fiscal policy will appreciate the improved models in this book that allow both for uncertainty and feedback effects arising from responses to increased debt. It will also be helpful to economic policy advisors and economists in government departments.

Written in a comprehensive yet accessible style, this Handbook introduces readers to a range of modern empirical methods with applications in microeconomics, illustrating how to use two of the most popular software packages, Stata and R, in microeconometric applications. International contributors expertly investigate the development of advanced methods driven by the accumulation of numerous data sets at the level of individuals, households and firms, and by an increase in the capacity and speed of computers. The Handbook highlights that, while the more traditional empirical methods were largely limited to establishing correlations, these new methods aim to uncover causality. Examination of these advances shows new possibilities for applied research in microeconomics in the estimation of sophisticated structural models and the evaluation of policy interventions. This insightful Handbook is a must-read for graduate students and instructors in applied microeconomics as well as researchers in government departments and academia pursuing modern advanced methods of policy evaluation and data analysis.

The Handbook of Experimental Game Theory offers a comprehensive analysis of the field, discussing foundational topics that are at the core of applied game theory. It highlights the nuances that scientific experiments have delivered to our understanding of strategic interactions among decision makers. Leading experts explore methodological considerations and games of complete and incomplete information to offer new directions for research in experimental game theory. Chapters demonstrate transformative behavioral research focused on classic topics in game theory such as cooperation and coordination games. Taking a scientific approach to the study of game theory, this innovative Handbook provides an insight into laboratory and field experiments that test game theoretic propositions and suggests new ways of modeling strategic behavior. It takes a forward-thinking position, addressing the challenges inherent in innovations surrounding the measurement of strategic behavior using experimental methods. This Handbook will prove to be a valuable resource for scholars and students who are looking to gain a broader understanding of experimental game theory and how to contribute to its advancement. It will also be of particular interest to researchers in experimental and behavioral economics.

'In Economics as Anatomy Peter Swann has produced a wonderful sequel to his earlier 2006 classic, Putting Econometrics into Its Place. In this powerful new book, Peter Swann shows how key ideas from the economics of innovation can reconstruct economics as an empirical science. The challenge for mainstream economists is to embrace diversity and help rebuild the subject of economics so that it is no less innovative and dynamic than the economy itself. Economists need to go back to their roots and build something different.' - Kevin Dowd, Durham University, UK 'This is an important, thought-provoking, well-argued and provocative work which questions the methodological basis of, and the status accorded to, econometric analyses. . . This book will prove useful to all economic researchers, whatever the stage of their career - from undergraduates to longstanding professors. This book should stimulate a lively debate and should result in all researching economists to reflect critically on their current approaches and become more open to methods other than the strictly econometric.' - Adrian Darnell, Durham University, UK There are two fundamentally different approaches to innovation: incremental and radical. In Economics as Anatomy, G.M. Peter Swann argues that economics as a discipline needs both perspectives in order to create the maximum beneficial effect for the economy. Chapters explore how and why mainstream economics is very good at incremental innovation but seems uncomfortable with radical innovation. Swann argues that economics should follow the example of many other disciplines, transitioning from one field to a range of semi-autonomous sub-disciplines. In this book, he compares the missing link in empirical economics to being the economic equivalent of anatomy, the basis of medical discourse. Working as a sequel to Swann's Putting Econometrics in its Place, this book will be a vital resource to those who are discontent with the state of mainstream economics, especially those actively seeking to promote change in the discipline. Students wishing to see progress in the teaching of economics will also benefit from this timely book.

THE GUIDE FOR ANYONE AFRAID TO LEARN STATISTICS & ANALYTICS UPDATED WITH NEW EXAMPLES & EXERCISES This book discusses statistics and analytics using plain language and avoiding mathematical jargon. If you thought you couldn't learn these data analysis subjects because they were too technical or too mathematical, this book is for you! This edition delivers more everyday examples and end-of-chapter exercises and contains updated instructions for using Microsoft Excel. You'll use downloadable data sets and spreadsheet solutions, template-based solutions you can put right to work. Using this book, you will understand the important concepts of statistics and analytics, including learning the basic vocabulary of these subjects. Create tabular and visual summaries and learn to avoid common charting errors Gain experience working with common descriptive statistics measures including the mean, median, and mode; and standard deviation and variance, among others Understand the probability concepts that underlie inferential statistics Learn how to apply hypothesis tests, using Z, t, chi-square, ANOVA, and other techniques Develop skills using regression analysis, the most commonly-used Inferential statistical method Explore results produced by predictive analytics software Choose the right statistical or analytic techniques for any data analysis task Optionally, read the "Equation Blackboards," designed for readers who want to learn about the mathematical foundations of selected methods

Imad Moosa challenges convention with this comprehensive and compelling critique of the limitations and abuses of econometrics, condemning the common practices of misapplied statistical methods in both economics and finance. After reviewing the Keynesian, Austrian and mainstream criticisms of econometrics, it is demonstrated that by using standard econometric techniques, methods and models can be manipulated to produce any desired result. These hazardous analyses may then be relied upon to support flawed policy recommendations, ideological beliefs and private interests. Moosa proposes that the way forward should instead be to rely on clear thinking, intuition and common sense rather than continue with the reliance upon econometrics. The mathematization of economics has limited the accessibility and participation in economic discussion by making the area into a complex `science' when it should not be. Appealing to both academics and practitioners of economics and finance, this book serves to challenge the acceptance of econometrics as offering trustworthy analysis. Any individual interested in this sort of empirical work will find this book a captivating read on the limitations of econometrics.

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. This Advanced Introduction provides a critical review and discussion of research concerning spatial statistics, differentiating between it and spatial econometrics, to answer a set of core questions covering the geographic-tagging-of-data origins of the concept and its theoretical underpinnings, conceptual advances, and challenges for future scholarly work. It offers a vital tool for understanding spatial statistics and surveys how concerns about violating the independent observations assumption of statistical analysis developed into this discipline. Key Features: A concise overview of spatial statistics theory and methods, looking at parallel developments in geostatistics and spatial econometrics, highlighting the eclipsing of centography and point pattern analysis by geostatistics and spatial autoregression, and the emergence of local analysis Contemporary descriptions of popular geospatial random variables, emphasizing one- and two-parameter spatial autoregression specifications, and Moran eigenvector spatial filtering coupled with a broad coverage of statistical estimation techniques A detailed articulation of a spatial statistical workflow conceptualization The helpful insights from empirical applications of spatial statistics in agronomy, criminology, demography, economics, epidemiology, geography, remotely sensed data, urban studies, and zoology/botany, will make this book a useful tool for upper-level students in these disciplines.

The two-volume book studies the economic and industrial development of Japan and China in modern times and draws distinctions between the different paths of industrialization and economic modernization taken in the two countries, based on statistical materials, quantitative analysis and multivariate statistical analysis. The first volume analyses the relationship between technological innovation and economic development in Japan before World War II and sheds light on technological innovation in the Japanese context with particular emphasis on the importance of the patent system. The second volume studies the basic conditions and overall economic development of industrial development, chiefly during the period of the Republic of China (1912-1949), taking a comparative perspective and bringing the case of modern Japan into the discussion. The book will appeal to academics and general readers interested in economic development and the modern economic history of East Asia, development economics, as well as industrial and technological history.

Nonlinear Models, Labour Markets and Exchange offers a number of broad introductory surveys in the areas of nonlinear modelling, labour economics and the economic analysis of exchange. This collection of articles consists largely of recently published refereed papers. The early chapters provide an introduction to the analysis of 'chaos and strange attractors' and the use of the very flexible generalised exponential family of frequency distributions in analysing both time series and cross-sectional distributions. The volume then provides syntheses of the theories of internal labour markets, trade union bargaining, and population ageing and its implications. It goes on to survey a range of topics in the broad area of the theory of exchange, which is central to the neoclassical economic model. Finally, the book provides some advice for students who are about to start their first piece of research. It ends with a unique survey of the history of economic analysis. Providing introductory material and syntheses of a wide range of topics, Nonlinear Models, Labour Markets and Exchange will be welcomed by economics academics and researchers interested in labour economics and econometrics.

This research collection offers a 34-article tour of recent advances and the current state of 5 important and booming areas of empirical methodology: Bayesian methods; modelling of temporal duration, dependence, and dynamics; network-analytic methodology; text, classification, and big-data analytic methods; methods for nonparametric and design-based causal inference. These prominent articles, written by leading scholars, break new ground and provide definitive statements of the current best practices in those respective areas. Together they describe the cutting-edge profile of modern empirical methodology for applied empirical analysis in political science. This is an essential resource for those studying and researching political methodology.

The impact of technical change on employment is investigated in this important new book which offers a critical appraisal of how far current economic analysis and theory can deal with this key policy issue.The Economics of Technology and Employment addresses the impact of technical change on employment from both theoretical and empirical perspectives. After an analytical discussion of theoretical propositions and models put forward by classical and contemporary economists, Dr Vivarelli develops a model to examine the extent to which worker displacement due to technical progress can be offset by compensatory market forces. This model is tested using Italian and US aggregate time-series data. The theoretical discussion and empirical results are combined to demonstrate that the employment impact of labour saving technologies can only be partially counter-balanced by market forces and so economic policy measures could be necessary. This important and innovative volume will be welcomed by economists and policymakers as a major contribution to our theoretical understanding of employment, industrial innovation and technical change.

Takeshi Amemiya has made a significant contribution to econometric theory over the past 30 years. This volume brings together 34 of his key articles and papers on areas such as limited dependent variables, non-linear simultaneous equations models, time series analysis and error components models. Many of the articles reprinted in this volume are indispensable references for researchers in the relevant fields. The specially written preface outlines the influences and motivations behind Professor Amemiya's work. Studies in Econometric Theory presents in a single volume the most significant work of one of the most important influential econometricians of our time.

This major book presents, for the first time, an authoritative history of developments in macroeconometric modelling since the 1930s. It focuses in particular on the construction of mathematico-statistical models of entire economies, estimated from national accounts and other macroeconomic data. International and comparative in scope, the book contains chapters prepared by specialists from the different countries concerned. This landmark book is indispensable to an understanding of the history and development of large scale econometric models of modern economies.

A provocative new analysis of immigration's long-term effects on a nation's economy and culture. Over the last two decades, as economists began using big datasets and modern computing power to reveal the sources of national prosperity, their statistical results kept pointing toward the power of culture to drive the wealth of nations. In The Culture Transplant, Garett Jones documents the cultural foundations of cross-country income differences, showing that immigrants import cultural attitudes from their homelands—toward saving, toward trust, and toward the role of government—that persist for decades, and likely for centuries, in their new national homes. Full assimilation in a generation or two, Jones reports, is a myth. And the cultural traits migrants bring to their new homes have enduring effects upon a nation's economic potential. Built upon mainstream, well-reviewed academic research that hasn't pierced the public consciousness, this book offers a compelling refutation of an unspoken consensus that a nation's economic and political institutions won't be changed by immigration. Jones refutes the common view that we can discuss migration policy without considering whether migration can, over a few generations, substantially transform the economic and political institutions of a nation. And since most of the world's technological innovations come from just a handful of nations, Jones concludes, the entire world has a stake in whether migration policy will help or hurt the quality of government and thus the quality of scientific breakthroughs in those rare innovation powerhouses.

This volume addresses important issues in economic theory and international trade with contributions from internationally renowned researchers - including some of Murray C. Kemp's many colleagues and former students.Economic Theory and International Trade begins with an examination of classical trade theory and welfare economics. It goes on to discuss international trade policy, including international trading agreements, taxation, tariffs and quotas. Attention then turns to the role of market structure in joint ventures, innovation, tariff policy and political economy. The final section is devoted to economic dynamics and international economics, with an emphasis on learning mechanisms, sustainable growth and immigration. This book will be indispensable to academics and graduate students in the area of international trade. Economic theorists and international trade specialists such as research units and researchers in government will also find this book of great interest.

Tax policy questions may relate to specific problems, concerning perhaps the revenue implications of a particular tax, or they may involve an extensive analysis of the cost and redistributive effects of many taxes and transfer payments. This book is concerned with the ways in which tax policy design can be enhanced by the use of a behavioural tax microsimulation model capable of evaluating the effects of planned or actual tax reforms. An advantage of such a large-scale tax simulation model, which reflects the heterogeneity of the population and captures the details of the tax structure, is that it can examine detailed practical policy questions and can provide direct inputs into policy debates. After introducing behavioural models, the authors discuss the role of means testing, several hypothetical policy reforms, actual and proposed reforms and recent modelling developments.Tax Policy Design and Behavioural Microsimulation Modelling will be of interest to academics and researchers of economics, econometrics and public finance. It will also be useful reading for policymakers responsible for the formulation of taxation.

Any discussion of the various facets of petroleum policy in the United States rests to a greater or less extent on the issue of sensitivity of petroleum exploration, and hence of new petroleum discoveries to economic incentives. Indeed, a principle argument in favour of having a special petroleum policy at all is that domestic petroleum exploration is so sensitive to economic considerations that in the absence of special incentives exploration expenditures would sharply decrease, as would the amount of petroleum discovered; consequently, the nation's known oil resources would be reduced to an extent dangerous in the event of an international crisis. This study attempts to answer the question: how sensitive are new petroleum discoveries to economic incentives? This book will be of interest to students of environmental studies.

Essays in Economic Theory, first published in 1983, combines two essays on game theory and its applications in economics. The first, "Learning Behavior and the Noncooperative Equilibrium", considers whether an adaptive justification, like those commonly available for the optimization models frequently employed elsewhere in economics, can be found for the Nash noncooperative equilibrium. The second essay, "A Game of Fair Division", was motivated by the desire to find attractive methods for solving allocation problems and bargaining disputes that are simple enough to provide useful alternatives to existing methods. It studies in detail one such simple method: the classical "divide-and-choose" procedure. This book will be of interest to students of economics.

• Introduces the dynamics, principles and mathematics behind ten macroeconomic models allowing students to visualise the models and understand the economic intuition behind them. • Provides a step-by-step guide, and the necessary MATLAB codes, to allow readers to simulate and experiment with the models themselves.

This major collection presents a careful selection of the most important published articles in the field of financial econometrics. Starting with a review of the philosophical background, the collection covers such topics as the random walk hypothesis, long-memory processes, asset pricing, arbitrage pricing theory, variance bounds tests, term structure models, market microstructure, Bayesian methods and other statistical tools. Andrew Lo - one of the world's leading financial economists - has written an authoritative introduction, which offers a comprehensive overview of the subject and complements his selection.

John E. Roemer, one of the founders of analytical Marxism, draws on contemporary mathematical economics to put forward a refined extension of the Marxian theory of exploitation, labour value and class.