Product Description
Like the author's best-selling, highly regarded International Economics text, this book integrates a clear and concise presentation of economic theory with an abundance of real-world cases and applications.Rather than discussing economic theory in the abstract, and then including real-world applications in separate sections, the text weaves applications into all theoretical discussions.There is no other Survey text that emphasizes real-world applications to this degree. ... Read more

Customer Reviews (3)

economics book
Book was in good condition as described.Few pages had orange highlight. I am generally satisfied.The price should have been lower.

Economics Book
It's a good book for getting the basics of the subject. The book is perfect for my class.

Well, it's an Econ book....
and it's a very very good introduction to economics. Has lots of real life examples in it, shows you simple formulas, how to plot economic supply & demand graphs - not much different from 3rd edition though. (got that one on accident first) and if it's not for a class, you might consider getting that one as the price would be substancially cheaper. :-) ... Read more

Product Description
A mechanism is a mathematical structure that models institutions through which economic activity is guided and coordinated. There are many such institutions; markets are the most familiar ones. Lawmakers, administrators and officers of private companies create institutions in orders to achieve desired goals. They seek to do so in ways that economize on the resources needed to operate the institutions, and that provide incentives that induce the required behaviors. This book presents systematic procedures for designing mechanisms that achieve specified performance, and economize on the resources required to operate the mechanism, i.e., informationally efficient mechanisms. Our systematic design procedures are algorithms for designing informationally efficient mechanisms. Most of the book deals with these procedures of design. When there are finitely many environments to be dealt with, and there is a Nash-implementing mechanism, our algorithms can be used to make that mechanism into an informationally efficient one. Informationally efficient dominant strategy implementation is also studied. ... Read more

Product Description
The ideal companion volume to the acclaimed Basic Economics--a guide to how our economic decisions turn out in practical terms.

The application of economics to major contemporary real world problems--housing, medical care, discrimination, the economic development of nations--is the theme of this new book that tackles these and other issues head on in plain language, as distinguished from the usual jargon of economists. It examines economic policies not simply in terms of their immediate effects but also in terms of their later repercussions, which are often very different and longer lasting. The interplay of politics with economics is another theme of Applied Economics, whose examples are drawn from experiences around the world, showing how similar incentives and constraints tend to produce similar outcomes among very disparate peoples and cultures. ... Read more

Customer Reviews (41)

Foundataion for "Economics 101"
It should be "required reading" and discussion for all 1st semester majors in Econ 101

necesssary read
Every citizen of the United States would benefit from reading this book.If only our politicians would read it as well.Clear, concise, well argued, Sowells book is an excellent, informative and thoughtfull read.

Common sense beyond stage one
Thomas Sowell writes a very understandable book on economics which shows the wisdom and necessity for thinking beyond stage one.I agree that our government officials largely do not think beyond the next election.

Excellent Book
As always Thomas Sowell is excellent. I have always enjoyed his common sense articles as well as his books.

A Worthwhile Book
I am blind and very interested in the WRITTEN WORD. This audio book is well worth the price of the book and it is very informative as to what is going on in the economics of our time. Sowell is one of my favorite authors.

These kind of books are not available at THE RECORDING FOR THE BLIND. of course it is a federally funded organziation. ... Read more

Product Description
When combined with a textbook, Capstone provides activities for a complete high school economics course. 45 exemplary lessons, over half of which are completely new, help students learn to apply economic reasoning to a wide range of real-world subjects - ranging from personal finance to global issues. The economic way of thinking helps students bring logic and meaning to all high school economics courses. Lessons cover: Markets Supply and demand Personal finance Macroeconomics The role of government The global economy ...and more Capstone is correlated to the Voluntary National Content Standards in Economics. The two-book set contains a teacher's guide and student activities book with a complete glossary of economic terms. Multiple-choice and essay questions are built into each lesson.

The Council for Economic Education envisions a world in which people are empowered through economic and financial literacy to make informed and responsible choices throughout their lives as consumers, savers, investors, workers, citizens, and participants in our global economy.

Some of the areas in K-12 education we publish in include:

- Establishing and building credit

- Managing personal finances

- Understanding economics on a local, national, and global level

- Using economics in other subject areas: Social Studies, Geography, History, etc. ... Read more

Product Description
From economics Nobel Laureate Gary Becker and historian Guity Nashat Becker comes this collection of the economist's popular BusinessWeek columns. These 138 essays have fueled numerous debates, touching on hot-button issues from crime to organization of sports. The Beckers' surprising--and uncompromising--positions on drugs ("legalize them"), immigration ("auction off immigration slots"), welfare ("curtail it sharply"), and other topics provide a provocative commentary on our times.Amazon.com Review
"The great majority of people are more rational and make fewermistakes in promoting their own interests than even well-intentionedgovernment officials," writes this impressive couple (Gary won the1992 Nobel Prize for Economics). The short, column-length essays thatmake up this volume first appeared in Business Week magazineand show for a popular audience how market incentives influence humanbehavior in countless ways. The Beckers criticize centralizedplanning, racial quotas and trade tariffs, and endorse druglegalization, privatized social security and school vouchers. Theyalso veer into unexpected terrain, addressing religion, sports andmarriage with keen insight. ... Read more

Customer Reviews (17)

Friedman's best student speaks!
The Economics of Life is a good anthology of Becker's short policy papers over the years. As such, it is useful as a supplemental text for introductory microeconomics. Some might find this book dry reading, but it is quite entertaining compared to standard textbooks.

This book should reach a wider audience too. Now that Milton Friedman is gone, Becker is THE leading proponent of Chicago Rational Choice microeconomics. Those who want to understand policy issues should read this book because it is about the easiest way to get a feel for Chicago microeconomics. See also Hidden Order by David Friedman.

Given the controversial nature of this book it has drawn fire, and will continue to do so. While I freely admit that Chicago price theory has limits, it also has useful applications and relevance. Read The Economics of Life first, judge its merits later.

Informative, If You Can Stay Awake
Gary Becker certainly has the credentials to bring economics to the masses, with a Nobel Prize in the field and positions at the economics powerhouse of the University of Chicago as well as the Hoover Institution, one of the world's most influential think tanks.Along with his wife Guity Nashat, Becker applies the concepts and principles of economics to a diverse range of issues in this volume, which is a collection of previously released columns.

The result is an informative look at how economics applies to a wider range of issues in our lives, above and beyond the strictly monetary.Becker was a forerunner in this area, applying economic theory to discrimination back when other economists were looking at nothing more than financial figures and projections.Becker's scope is expanded here and the issues range, as the subtitle puts it, from baseball to affirmative action and more.

Unlike some other reviewers, I do not think these essays are dated.Even if some of the specific issues have changed, the concepts remain the same and can be applied to present situations with little editing.Anyone who cannot do so has read only the words of the essays themselves without recognizing the deeper analysis involved.

The biggest problem with THE ECONOMICS OF LIFE is not that it is dated, but rather that it is truly, truly dull.I was attracted to the book because one of my favorite authors, Thomas Sowell, is also an economist who writes columns for a wider, non-academic audience.Certainly I did not expect a clone of Sowell.Yet Sowell has demonstrated that he can make the dismal science a bit less dismal to read.The same cannot be said of Becker, whose brilliance in the field is matched by the dryness with which he articulates it.

Easy to read everyday economics
Nobel Prize winner Gary Becker published this collection of articles in the mid1990s. Even if dated, the book is a high-quality and straightforward way to understand basic economics and apply economic theory and principles to daily life. Most of the articles are interesting, it is easy to read both in content and length, the writing is consistently fine and the analysis insightful. It also sparked the vast amount of more recent books of the same fashion like Harford's Undercover economist, Landsburg's Armchair economist, Friedman's Hidden order or Leavitt's Freakonomics. Recommended.

Very readable, very practical
This book brings economic theories down to earth. The Beckers are excellent writers and the book is easy to read because it is broken down into short segments. The book would be great as supplementary reading for a principles of economics class.

Becker's "Economics of Life"
This is a great read. Although outdated, it still carries lots of potent articles from the man who mastered bringing economics to the masses. Being a collection of short articles, it sometimes leaves you wishing that Becker had gone into more detail with his arguments, though. ... Read more

Product Description
This marketing leading text focuses on comparisons between the three major types of economic systems in the world today - capitalism, socialism, and the economies of the LDC’s and developing countries. Several variants of capitalism are represented by exploring the U.S., Germany, and Japan.Also discussed are the problems involved in the transformation of the former communist countries of Russia and Eastern Europe into capitalist countries (Poland, The Czech Republic and Hungary).Developing economy coverage includes comparisons between China and India, and coverage of the Latin American countries of Argentina, Brazil and Mexico, as well as comparisons between African nations. ... Read more

Customer Reviews (2)

Book buying review
Book arrived as scheduled and in proper condition.Would buy from this buyer again.

The author should learn elementary arithmetic before writing
I am appalled at the author and the editorial board of the publisher.

Look at tables 1-1 and 1-2 for example.According to the author, the population of the U.S.A. in 1990 was 76.391 billion (=76,391 billion!!!!).And the GDP was 312.8666 Trilluion dollars (=$312,866 billion dollars!!!).Same blunders about other countries in the table 1-1.Table 1-2 has similar BLUNDERS!!!!I have not had the time to go beyond chapter 1.The author did the greatest disservice to students and other teachers by writing this book, because some teachers will "accidentally adopt it, before they and their students discover that this book is simply a puiece of garbage! ... Read more

Product Description
Why are some countries rich and others poor? DavidN. Weil, one of the top researchers in economic growth, introducesstudents to the latest theoretical tools, data, and insights underlyingthis pivotal question. By showing how empirical data relate to new andold theoretical ideas, Economic Growth , 2/e provides readers with a complete introduction to the discipline and the latest research. Overview: The Facts to Be Explained; A Framework for Analysis. Factor Accumulation: Physical Capital; Population and Economic Growth; Future Population Trends; Human Capital. Productivity: MeasuringProductivity; The Role of Technology in Growth; The Cutting Edge ofTechnology; Efficiency; Growth in the Open Economy. Fundamentals: Government;Income Inequality; Culture; Geography, Climate, and Natural Resources;Resources and the Environment at the Global Level. Conclusion: What We Have Learned and Where We Are Headed. For all readers interested in economic growth, economic development,macro theory, applied econometrics, and development studies. ... Read more

Customer Reviews (7)

Three University Texts on Economic Growth
"Economic growth" continues to be of interest largely because of the large part of humanity whose living standards are so very substantially worse than the middle-class norm of OECD countries.Economists are as interested as anyone else, whence university texts full of economists' economic growth research:

-- Acemoglu, "Introduction to Modern Economic Growth" (2009)
-- Aghion and Howitt, "The Economics of Growth" (2009)
-- Weil, "Economic Growth" (2nd ed., 2009)

As a Ph.D. economist who has resided and worked for the past thirty years in low-income areas of several continents, in countries of which the wealthiest was Egypt, "Economic Growth" is a daily interest.How does the enterprise sector relate to what attracts our attention to low-income countries in the first place: hunger, physical insecurity, abusive social relations?Does it pass these problems by, or does it alleviate them?Should interested outsiders care about "the economy" and if so what should they do?Or should they concentrate on relief, or on political reform?

This review of the three texts listed above looks at them from the point of view of their usefulness in relation to this particular interest.

Although Weil's undergraduate text stays away from the mathematics that dominate the other two, all three books are quite similar in that each is an encyclopedic exposition of models of aggregate growth, along with numerous factors that have been suggested to affect it.None is a monograph that states and defends a thesis.They all prepare a student to grapple with problems in the hope that the students will solve them.

Perhaps that is the fate of a textbook: anything more assertive would be commercially limiting.

Nonetheless, the result is a certain defensiveness.The task of the two graduate texts in particular seems to be to demonstrate that, if observation of low-income countries or of growth should give rise to an idea, then the economics profession can model it.

This is not to say that the authors haven't had ideas.But none of these texts is a handbook of things to be done: how to create economic growth or improve its quality.The implication, unfortunately, is that the authors don't have that toolkit to offer.(The graduate texts are, however, handbooks on how to model.)

The reader will learn quite a bit about the world from Weil's book, which is more descriptive than the other two.Aghion and Howitt's is immensely learned, but Acemoglu's book stands out in a couple ways.First, it is the only one to cross the line and become an applied mathematics textbook pure and simple.Secondly, however, its great length affords space for an "Epilogue," an explicit outlier that contains some non-mathematical statements.And it's here where I can pin-point what seems to me to be the underlying methodological error.

Acemoglu says about Chinese history, on page 867 (!): "When prospects for economic growth conflicted with political stability, the elite opted for maintaining stability, even if this came at the expense of potential economic growth.Thus China tightly controlled ... ."

Let me state the principle that Acemoglu has violated here: Things don't happen for causes.Things happen because people do them.

If things happened for causes, then we might indeed model cause and effect -- and probably conclude that that's all we could do.

But all the models and history are after the fact.If the fact were different, we'd be modeling that instead.And it always might have been different.China's history, in point of fact, finally did read: "Even though the measures required for economic growth conflicted with political stability, the elite found a way to take the measures and preserve political structures, resulting in massive benefits that ultimately were both economic and political."China's elite might very well have done this at any time; it's not for us to say that they couldn't have.

Acemoglu also overlooked this principle of action in the section on pp. 868-70 about Western Europe's growth after 1800.He says that two things were different in the pre-1800 period: no systematic investment in human capital, and the presence of "authoritarian" political regimes.But he then ignores investment in human capital in his story of the post-1800 period.

This is a fatal error.People make the political institutions what they are, make the families what they are, and make the firms what they are."Things happen because people do them."

People who bring about change do not drop from outer space; they "distill their frenzy" from somewhere, and it's usually from an intellectual outlook they encountered in schools and universities.

If we hope low-income countries' enterprises will become more world class, their owners and managers must have this as their vision.If we hope that international standards of human rights will prevail, then social leaders must have that as their vision.And if we hope that Total Factor Productivity will rise in low-income countries, it is people who will make that happen.

It is actually a bit odd that all three texts should tell the basic story whose thread runs through savings, capital accumulation, TFP, and innovation without tackling what Acemoglu calls (p. 873) "the industrial organization of innovation."I give Acemoglu credit for this excellent term.

Surely the industrial organization of innovation would include universities investing in human capital, but perhaps this kind of investment will have to have happened more widely in low-income countries before it's modeled.

I conclude by reiterating that each of these three texts is truly encyclopedic and extremely impressive.

decent
It came withing the time they said. And the book was in pretty good condition with some high lights. Thanks.

Too Expensive
I have not bought this book b/c it is too expensive. However, how could any professor assign a book which costs $120 to students? The book may well be decent, but no self-respecting professor would make their students shell out that much money for a textbook...

Shame on any professor who does.

Review for book purchase
The book was in great condition, as listen on amazon, and didnt take too long to arrive through mail.

Great textbook
I use this as a reference book for work even though I didn't use this text in school.It has been very useful and explains the concepts easily with illusrations and analysis that can be applied to work arguments. ... Read more

Product Description
A simple, straightforward analysis of economic fallacies that are so prevalent they have almost become a new orthodoxy. ... Read more

Customer Reviews (233)

A Must Read
A must read for all of those that believe in Kensian economics!This book debunks the myth that our current Administration so strongly believes in; namely, spending to get ourselves out of debt.Every politician should read this book and learn the basics of economics.

Vastly overrated work of fiction
I was sorely disappointed in this vapid and smarmy demogoguery.Sure, back then there was no Google searching nor number crunching laptops.But plenty of economic data was available which the author managed to circumvent.Probably the book's greatest failing was to compare the field of economics to other sciences.Even with today's analytical resources, economists are still all over the map on their predictions & conclusions.On the other hand, meteorologists seem to do quite well.
Naturally the radical libertarians, tea-baggers & Republicans love this slim volume which is even slimmer on evidence.I would read it only if you want to know why the lunatic fringe is so nutty & irrational.

Objective Means Right, Not Tolerant of Error
Over 40 years ago, Mr. Hazlitt wrote:

"Government guaranteed home mortgages, especially when a negligible down-payment or no down payment whatever is required, inevitably mean more bad loans than otherwise. They force the general taxpayer to subsidize bad risks and to defray the losses. They encourage people to 'buy' houses they cannot really afford. They tend eventually to bring about an oversupply of houses as compared with other things. They temporarily overstimulate building, raise the cost of building for everybody (including the buyers of the homes with the guaranteed mortgages), and may mislead the building industry into an eventually costly overexpansion. In brief, in the long run they do not increase overall national production but encourage malinvestment."

If this was the only sentence in this book our current so-called economists had read, understood and applied when Fannie and Freddie came waddling down the pike, we wouldn't be in the mess we're in today. You'll find more of the same 'unobjective', observation-based thinking throughout this little gem of a book - so please read it if you're at all interested in saving yourself and this country from the approaching disaster. I especially recommend the chapter "The Mirage of Inflation", because brother, it's coming soon to devastate an economy near you, and we need the help of honest intellectuals like Mr. Hazlitt to help us understand and oppose "the hidden tax" - before it's too late.

More politics, less economincs
I wish I had read more of the reviews to learn that this book is less about economics and more about pushing a particular political point of view.The point of view is hard right and the current recession disproves most of the economic patter.After skimming a few pages I threw it away; I didn't even want it in the house.

IN ONE LESSON?...Believe it!~
I read this book expecting to be bored.The author surprised me by putting everything in easy to understand language and common sense examples.Considering this book was written in 1946 and updated the last time in 1976 it reads like it was written for today.I thoroughly enjoyed it and learned a lot.The Austrian School of economics is the only form of economics that makes sense.This book will help you make sense of it. ... Read more

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Customer Reviews (1)

Good overview
An excellent collection of helpful and challenging discussions of cost-benefit analysis, covering both strengths and weaknesses from a variety of perspectives. Some major names in the fields (such as Amartya Sen, Martha Nussbaum, Richard Posner, and Cass Sunstein) are included. ... Read more

Product Description
Author's Book Overview:China and India are on the rise!The United States is sending jobs overseas!What is the 21st century coming to?Communities are hapless in their knowledge of how to respond at the local level to global pressures and competition.Holbrook calls his fellow economic developers to arms to address these daunting times and create unprecedented new opportunities for America's future.Don Holbrook sees the U.S. in a global economic struggle that will decide its' future as a superpower..This book is that blueprint for change that has been needed within economic development.He urges our decision makers to adopt a sweeping program of reforms and comprehensive strategies he calls "Prosperity with a Purpose". As a Certified Economic Developer, Don has solutions that can revive towns & cities' economic fortunes.He discusses how World Class Communities are a mindset not determined by geographic location or population. ... Read more

Customer Reviews (4)

A rare jewel in the literature
I enjoyed the author's insight and knowledge of the workings of international development institutions. Light and interesting reading!

A must read for anyone in the field of Economic Development
Good insight into the world of Economic Development, this is a must read for someone in this field of work.

This book captures the art and science of the strange craft of Economic Development
This is the book I'd require any new economic development professional in my organization to read... and encourage any public official or community leader honestly working to improve our community's economic development to read this book and understand its message.

Mr. Holbrook's The Little Black Book of Economic Development is much more than this, but it is worth its cost just for the list of supportive quotations from a 'who's who' list of economic development professionals from across the country.

Daryl Phillips, CEcD
Hickman County Economic & Community Development Association

Black Ops and Covert Operations exposed
This book will give you an insiders view of just how the real world of high stakes negotiations for local economies is being fought... it is the true Art of the Deal today.If you want to understand how community economies can work and should work as well as the dark side of this industry.This book has over 50 insiders comments on their own experiences and best practice examples. ... Read more

Product Description
When a handful of people thrive while whole industries implode and millions suffer, it is clear that something is wrong with our economy. The wealth of the few is disconnected from the misery of the many. In Civilizing the Economy, Marvin Brown traces the origin of this economics of dissociation to early capitalism, showing how this is illustrated in Adam Smith's denial of the central role of slavery in wealth creation. In place of the Smithian economics of property, Brown proposes that we turn to the original meaning of economics as household management. He presents a new framework for the global economy that reframes its purpose as the making of provisions instead of the accumulation of property. This bold new vision establishes the civic sphere as the platform for organizing an inclusive economy and as a way to move toward a more just and sustainable world. ... Read more

Customer Reviews (2)

Answering the mystery
I always wondered why Capitalism was so cruel to the very people who make it work.Dr. Brown answers that both from historical and contemporary perspectives.Why did Adam Smith hedge the truth?What single difference could turn a heartless Capitalism into a meaningful social endeavor?All this and more in a book I found so interesting and well written I could hardly put it down.The most realistic alternative to the challenges of today that I have read. Civilizing the Economy: A New Economics of Provision

Humanizing Capitalism
Perhaps a more telling subtitle for this book would be "humanizing capitalism" for this is what the author is calling for - bringing the most powerful man-made social system in the world (economics) into alignment with people instead of property. Socialism and capitalism in their present forms are both set in contexts of materialism. The true "third way" for an economic system would be one founded on life and living things (what the author calls "provision") rather than on the material alone.Hat's off to the author who offers a powerful blueprint for a more just and sustainable economics. ... Read more

Product Description
This textbook offers information on world population and health, the debt crisis of the developing world, and the strengths and weaknesses of market-oriented economic reforms. It emphasizes structural adjustment and draws practical examples from South America, Asia and Africa. ... Read more

Customer Reviews (6)

Never Received it!
First of all, the book was delivered late, and then when it was delivered, they sent the wrong book.I have asked them to send me the correct one and haven't received a response in 10 days.

Good Deal
Got that book for a real good price even when it looked much more used than described. Nevertheless good qulity for such a price.

Stimulating Introduction
I read this book for my introductory economic development course and was engrossed by it. The chapter on population was particularly interesting, and caused me to pick up a few references from it. If you want to include a detailed mathematical treatment of growth theory, you may need to go beyond the text. However, the intuition and motivation for all topics covered by the book is strong. I found myself reading more than just the assigned chapters, and with excitement.

This is, of course, the only introduction I've had to the topic (besides more detail on growth theory in another course). Therefore, I have no idea if something is missing. However, if you want an engaging text, this is your book.

If you are only going to read one Economics textbook in your life...
This book, although extremely long, wastes no space in its presentation.Of all economic textbooks I have encountered, this is the only one that explains clearly and precisely everything about world development, citing failed and successful examples in history.If you ever wondered what the driving forces behind policies in the world were, you need this book.Priceless.

Excellent book
This is one of the best books in economic development ever published. Written in plain english, so it's easy to understand, even for non-economics students. Highly recommended for graduate students, professors, and professionals interested in economic issues of developing countries. ... Read more

Product Description

The first book to chart the development of the field of evolutionary economics, this book provides an integrated generic framework to define the rules of an economic system; how they are coordinated and the causes and consequences of their change.

Packed with pedagogical features including essay and tutorial questions, case studies and an extensive bibliography, this book:

• proposes a new analytic framework for the study of the nature and causes of long run economic growth and development in market systems
• analyzes the foundations of the neoclassical tradition, before developing a thesis through micro, meso and macro domains drawing conclusions as to what can be learned from the point of view of policy analysis
• focuses on an open-systems analytical framework and successfully formulates and refines the analytical foundations of a new general theory of economic evolution.

This volume is essential reading for scholars and students of economic evolution and as well as for anyone who seeks to better understand the complex evolutionary nature of the structure and dynamics of the knowledge-based economy in today’s society.

Product Description

This book offers the basic grasp of general equilibrium theory that is a fundamental background for advanced work in virtually any sub-field of economics, and the thorough understanding of the methods of welfare economics, particularly in a general equilibrium context, that is indispensable for undertaking applied policy analysis. The book uses extensive examples, both simple ones intended to bolster basic concepts, and those illustrating application of the material to economics in practice.

Product Description

Product Description
In recent years, innovative texts in mathematics, science, foreign languages, and other fields have achieved dramatic pedagogical gains by abandoning the traditional encyclopedic approach in favor of attempting to teach a short list of core principles in depth.Two well-respected writers and researchers, Bob Frank and Ben Bernanke, have shown that the less-is-more approach affords similar gains in introductory economics.Although recent editions of a few other texts have paid lip service to this new approach, Frank/Bernanke is by far the best thought out and best executed principles text in this mold. Avoiding excessive reliance on formal mathematical derivations, it presents concepts intuitively through examples drawn from familiar contexts. The authors introduce a well-articulated short list of core principles and reinforcing them by illustrating and applying each in numerous contexts.Students are periodically asked to apply these principles to answer related questions, exercises, and problems.

The text also encourages students to become "Economic Naturalists," people who employ basic economic principles to understand and explain what they observe in the world around them.An economic naturalist understands, for example, that infant safety seats are required in cars but not in airplanes because the marginal cost of space to accommodate these seats is typically zero in cars but often hundreds of dollars in airplanes. Such examples engage student interest while teaching them to see each feature of their economic landscape as the reflection of an implicit or explicit cost-benefit calculation.

The Second Edition of Frank/Bernanke follows the successful First Edition with several pedagogical improvements. Based on reviewer feedback, this edition offers (1) even more streamlined coverage of the cost-benefit approach in the introductory chapter; (2) exercises that are more closely tied to the examples; (3) expanded narrative explanations of important principles, making them more accessible to average students; and (4) expanded coverage of several key topics. The result is a revision that is motivating to students, an effective text for teaching, and an exciting first course in Economics. ... Read more

Customer Reviews (2)

Good introductory text, pretty pictures
This text has several real world examples that don't involve guns and butter or widgets. It served its purpose, but is not suitable as a reference to keep on the shelf after Micro Econ 101.

Great Condition and Price
This was a needed text for my economics class, and it arrived in perfect condition and on time. ... Read more

Product Description
This book introduces graduate students in economics to the subfield of financial economics.It stresses the link between financial economics and equilibrium theory, devoting less attention to purely financial topics such as valuation of derivatives.Since students often find this link hard to grasp, the treatment aims to make the connection explicit and clear in each stage of the exposition.Emphasis is placed on detailed study of two-date models, because almost all of the key ideas in financial economics can be developed in the two-date setting. The analysis is intended to be comparable in rigor to the best work in microeconomics;at the same time, the authors provide enough discussion and examples to make the ideas readily understandable. ... Read more

Customer Reviews (13)

Elegent and Precise Guide
The book is fairly elegant in its precise derivations, and relatively clear for a student with sufficient mathematical preparation. The only problem is that it lacked proper motivation and an exercise set. Overall, a PhD student would find the volume a slim and readable reference to Financial Economics, but he would be well advised to have another volume handy for intuition.

Uninteresting reference book
You will learn nothing about economics or finance from this book. If you are at the PhD level in finance and math, this could be used as a reference book. It is simply the bare bones of finance. For the rest of us there are better options

Wonderful financial economics
If you know linear algebra and optimization in Euclidean Spaces and you want to learn financial economics, I believe that this book is the place to start.
This book is a master piece that at the same time it presents precisely, concisely and clearly financial theory. I don't know any other book that does it in the same way!
I specially love part 6 where the authors present "mean variance analysis" using projections in Hilbert spaces.
I want to warn people that this book does not intend to introduce financial econometrics and other applied issues. This book is a great place to learn financial economics!

excelent book for students with real interest in financial theory
great book!
very clear, thorough and precise treatment of the material.
Better suit for people with interest in theory than for practical uses.

Good approach to learning financial econoimcs
This is one of the few straight-forward introductory financial economics textbooks.The main reason I like this book is because it teaches the actual economics behind finance, which is sometimes left behind in a lot of more applied texts.There is a decent discussion on the "Fundamental Theorem of Finance", but it is quite scattered around in different parts of the book.However, this is probably one of the most important issues that first-year Ph.D. students should know.There is also a good discussion on spanning, which is not found in most books. ... Read more

Product Description

Modern business cycle theory and growth theory uses stochastic dynamic general equilibrium models. In order to solve these models, economists need to use many mathematical tools. This book presents various methods in order to compute the dynamics of general equilibrium models. In part I, the representative-agent stochastic growth model is solved with the help of value function iteration, linear and linear quadratic approximation methods, parameterised expectations and projection methods. In order to apply these methods, fundamentals from numerical analysis are reviewed in detail. In particular, the book discusses issues that are often neglected in existing work on computational methods, e.g. how to find a good initial value.

In part II, the authors discuss methods in order to solve heterogeneous-agent economies. In such economies, the distribution of the individual state variables is endogenous. This part of the book also serves as an introduction to the modern theory of distribution economics. Applications include the dynamics of the income distribution over the business cycle or the overlapping-generations model.

In an accompanying home page to this book, computer codes to all applications can be downloaded.

Customer Reviews (3)

Very helpful book full of codes
This book is unique. It gives a clear and systematic account of the practical aspect of solving dynamic general equilibrium models. It proved extremely useful to me in writing my thesis. The codes for solving the models are very valuable. You are given the codes for solving several types of models.Furthermore, I e.mailed dr. Heer regarding a coding issue that arose because I was running a newer version of GAUSS than the one the codes were written in and he was very helpful. He replied promptly and solved the issue. That helpful attitude from the authors is evident throughout the book, it helps you solve models. Springer quality - Five stars from me no question.

A good link between the theory and computational aspects
If you want to learn how to solve the dynamic macroeconomic models from a theoretical and practical perspectives, you should buy this book. But what I like the most it's the extended development in each model, contrary to other macroeconomic books, you can find in this one, a very detailed explanation of the algebra inside the macro models. Maybe next editions could improve with the answer to each chapter problems in some web page.

Great Book
I am PhD student in economics and I do research in heterogeneous agents models.I found this book to be extremely useful. It provides you with all the tools that you need in order to start and do your own research. Also most topics are up to date. The book comes also with a web page with the computer codes for the examples in the book. My only complain is that there are no MatLab codes, but only Gauss and FORTRAN. ... Read more

Product Description
Does the National Collegiate Athletic Association (NCAA) exploit student athletes? Should athletes be paid? Does Title IX unfairly discriminate against men's sports? Are the salaries of head coaches excessive? Why is there so much cheating in college sports? Should the sports department be subsidized by the university? Why do universities place so much emphasis on athletics?

The above are just some of the questions raised in this sports economics textbook specially designed to teach undergraduate students about the college sports industry. The book focuses on the unique cartel structure of the NCAA and its member institutions to shed light on the labor market for college athletes and coaches; the tension between athletics and academics; the finance of athletic departments; the role of the media and commercialization of college sports; race, gender, and legal issues; and the desirability and plausibility of reform.

The book reinforces the economic analysis with a variety of examples of recent events and can be used as either a primary or secondary text.

Contents:

• The History of Intercollegiate Athletics and the NCAA;
• Cartels in College Sports;
• The Labor Market for College Athletes;
• Athletics and Academics;
• The Labor Market for College Coaches;
• The Athletic Department and the University;
• The Media and Intercollegiate Sports;
• Race and Gender Issues in Intercollegiate Sports;
• Reforming College Sports.

Customer Reviews (7)

college student's worst nightmare
First bad thing-they sent me the completely WRONG textbook. They responded to my email the day after I complained about it and told me they sent the correct textbook with express shipping because I said I had a test and needed the book as soon as possible. 5 days later, I got the right textbook and they had sent it standard shipping and made no attempt to get it to me faster than a regular order. I won't order from them again.

Book wasn't really available
They notified me a few days after my order that they had sold the book already and credited my account properly.

A-One Bargain
My son lost his textbook and was going to be charged $94.00. Everywhere I looked, prices were nearly as high. When I found this one so cheaply and in such good shape, I was sure it was one of those "too good to be true" items. However, it was the exact textbook required at less than half price.
Thanks!

Good and Fast
I was so happy with my purchase bacause i not only save money but i also received my text book2 day after i order it.

great introduction
i made an A using this book. i thought it was a great introduction to economics ... Read more