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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.
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.
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