This important book translates evidence and examines policy, proposing a plan to save America's schools by rewarding teachers with professional-level salaries distributed wisely. Profit of Education makes it clear that rethinking the teaching profession is the key to repairing America's broken-down education system and securing our nation's future. Accomplishing that, author Dick Startz says, requires lifting teacher pay to professional levels and rewarding teachers for student success, with the goal of improving student learning by the equivalent of one extra year of schooling. Profit of Education takes the reader on a chapter-by-chapter walk through the evidence on pay-oriented, teacher-centric reform of the public school system, showing that such an approach can work. Startz translates the extensive scientific evidence on school reform into easily understood terms, demonstrating the enormous difference teachers make in student outcomes. Proposed levels of teacher salaries are established, and the difficult issue of differential pay is examined in depth, as are many of the practical and political issues involved in measuring teacher success. Last, but hardly least, Startz shows how teacher-centric school reform will pay off for the taxpayer and the economy.

A Complete View of Macroeconomics Dornbusch, Fischer, and Startz's Macroeconomics relies on straightforward explanations by emphasizing concepts over technique, and fitting difficult material into a larger framework so students can see its relevance in the world. The authors explore state-of-the art research, while allowing for flexibility in how much to emphasize these topics. A balanced approach explains both the potential and limitations of economic policy. Hallmark features and key changes in the 13th edition include: * Background and analysis on The Great Recession of 2007-2009 and its aftermath.* Updates on unemployment and the Federal Reserve, including more detailed dives into each topic with current data, definitions, and context.* History Speaks and What More Do We Know? boxes callout relevant data and information that further enhance the concepts covered within each chapter.* Macroeconomics employs a model-based approach to macroeconomic analysis and demonstrates how various models relate to the goal of giving students the capacity to analyze current economic issues in the context of an economic frame of reference.* A focus on international perspectives helps students understand the important links connecting foreign economies to their own.

Ziel dieses Buches ist die Erklarung, wie man die moderne Makrookonomik fur das Verstandnis wichtiger wirtschaftlicher Streitfragen verwenden und wie man Leser helfen kann, selbst makrookonomische Probleme zu analysieren. Die achte Auflage wurde gegenuber der sechsten deutschen Auflage und der amerikanischen siebten stark verbessert und uberarbeitet. Aus dem Inhalt: Volkswirtschaftliche Gesamtrechnung. Wachstum und Akkumulation. Wachstum und Politik. Angebot und Nachfrage. Aggregiertes Angebot. Inflation und Arbeitslosigkeit. Politik. Einkommen und Ausgaben. Geld, Zins und Einkommen. Geld- und Fiskalpolitik. Internationale Wirtschaftsbeziehungen. Konsum und Sparen. Die Investitionsausgaben. Die Geldnachfrage. Zentralbank, Geldangebot etc. Finanzmarkte. Depression, etc. Anpassung und Interdependenz. Fortgeschrittene Themenbereiche."

Much of economists' statistical work centers on testing hypotheses in which parameter values are partitioned between a null hypothesis and an alternative hypothesis in order to distinguish two views about the world. Our traditional procedures are based on the probabilities of a test statistic under the null but ignore what the statistics say about the probability of the test statistic under the alternative. Traditional procedures are not intended to provide evidence for the relative probabilities of the null versus alternative hypotheses, but are regularly treated as if they do. Unfortunately, when used to distinguish two views of the world, traditional procedures can lead to wildly misleading inference. In order to correctly distinguish between two views of the world, one needs to report the probabilities of the hypotheses given parameter estimates rather than the probability of the parameter estimates given the hypotheses. Choosing the More Likely Hypothesis shows why failing to consider the alternative hypothesis often leads to incorrect conclusions. It shows that for most standard econometric estimators, it is not difficult to compute the proper probabilities using Bayes theorem. Simple formulas that require only readily available information in standard estimation reports are provided. The author emphasizes that frequentist approaches for deciding between the null and alternative hypothesis are not free of priors. Rather, the usual procedures involve an implicit, unstated prior that is likely to be far from scientifically neutral.