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An accessible, thoroughly engaging look at how the economy really works and its role in your everyday life Not surprisingly, regular people suddenly are paying a lot closer attention to the economy than ever before. But economics, with its weird technical jargon and knotty concepts and formulas can be a very difficult subject to get to grips with on your own. Enter Greg Ip and his Little Book of Economics. Like a patient, good-natured tutor, Greg, one of today's most respected economics journalists, walks you through everything you need to know about how the economy works. Short on technical jargon and long on clear, concise, plain-English explanations of important terms, concepts, events, historical figures and major players, this revised and updated edition of Greg's bestselling guide clues you in on what's really going on, what it means to you and what we should be demanding our policymakers do about the economy going forward. From inflation to the Federal Reserve, taxes to the budget deficit, you get indispensible insights into everything that really matters about economics and its impact on everyday life Special sections featuring additional resources of every subject discussed and where to find additional information to help you learn more about an issue and keep track of ongoing developments Offers priceless insights into the roots of America's economic crisis and its aftermath, especially the role played by excessive greed and risk-taking, and what can be done to avoid another economic cataclysm Digs into globalization, the roots of the Euro crisis, the sources of China's spectacular growth, and why the gap between the economy's winners and losers keeps widening
Two of America's most respected economists clarify the basics of economics for everyone who wants to understand the nature of the economic forces that seem to rule our lives. "Clarity triumphant, whether the topic is inflation or government, markets or Marx".--Newsday.
Nobody has everything they need, all the time – so how can we make do with what we have? Economics is all about understanding the choices we make to solve this problem. With bright, infographics pictures, this informative book describes why markets are so important, how businesses work out what to sell, and how governments choose how to run a country. Includes Usborne Quicklinks to specially selected websites for more information.
An essential guide to everything you can learn by taking a degree in Economics, this full-colour book leads the reader through the crucial aspects of economic theory and the involvement of economics in our day-to-day lives. Packed with flow diagrams, infographics, pull-out features and profiles of prominent economists (past and present), the book reveals how economic policies are constructed on both a national and international level and the factors that impact them. Chapters cover topics such as: • Supply and demand • Market structures • Development economics A Degree in a Book: Economics is perfect for both students and those wishing to know how economics has played its part in constructing the world in which we live. ABOUT THE SERIES: Get the knowledge of a degree for the price of a book with Arcturus Publishing's A Degree in a Book series. Written by experts in their fields, these highly visual guides feature flow diagrams, infographics, handy timelines, information boxes, feature spreads and margin annotations, allowing readers to get to grips with complex subjects in no time.
A rigorous, pathbreaking analysis demonstrating that a country's prosperity is directly related in the long run to the skills of its population. In this book Eric Hanushek and Ludger Woessmann make a simple, central claim, developed with rigorous theoretical and empirical support: knowledge is the key to a country's development. Of course, every country acknowledges the importance of developing human capital, but Hanushek and Woessmann argue that message has become distorted, with politicians and researchers concentrating not on valued skills but on proxies for them. The common focus is on school attainment, although time in school provides a very misleading picture of how skills enter into development. Hanushek and Woessmann contend that the cognitive skills of the population—which they term the “knowledge capital” of a nation—are essential to long-run prosperity. Hanushek and Woessmann subject their hypotheses about the relationship between cognitive skills (as consistently measured by international student assessments) and economic growth to a series of tests, including alternate specifications, different subsets of countries, and econometric analysis of causal interpretations. They find that their main results are remarkably robust, and equally applicable to developing and developed countries. They demonstrate, for example, that the “Latin American growth puzzle” and the “East Asian miracle” can be explained by these regions' knowledge capital. Turning to the policy implications of their argument, they call for an education system that develops effective accountability, promotes choice and competition, and provides direct rewards for good performance.
Considering a graduate degree in economics? Good choice: the twenty-first-century financial crisis and recession have underscored the relevance of experts who know how the economy works, should work, and could work. However, Ph.D. programs in economics are extremely competitive, with a high rate of attrition and a median time of seven years to completion. Also, economic professions come in many shapes and sizes, and while a doctoral degree is crucial training for some, it is less beneficial for others. How do you know whether a Ph.D. in economics is for you? How do you choose the right program—and how do you get the right program to choose you? And once you've survived years of rigorous and specialized training, how do you turn your degree into a lifelong career and meaningful vocation? Getting a Ph.D. in Economics is the first manual designed to meet the specific needs of aspiring and matriculating graduate students of economics. With the perspective of a veteran, Stuart J. Hillmon walks the reader though the entire experience—from the Ph.D. admissions process to arduous first-year coursework and qualifying exams to armoring up for the volatile job market. Hillmon identifies the pitfalls at each stage and offers no-holds-barred advice on how to navigate them. Honest, hard-hitting, and at times hilarious, this insider insight will equip students and prospective students with the tools to make the most of their graduate experience and to give them an edge in an increasingly competitive field.
Let's face it, economics can be boring…but we all need a decent understanding of the basics if we want to survive in these difficult and uncertain times. Let's make it more interesting. Easy Economics isn't packed with reams of text or stacks of numbers, this book is visual and engaging. The book aims to bring you up to speed, in a way that entertains while it informs, through a collection of many of the most frequently asked questions--plus some you probably haven't thought of--on the subject of economics. The topics range from: The difference between Debt and Deficit Causes and cures of recessions The Financial Crisis of 2007-2009 explained Is globalization good or bad? How fiscal and monetary policies differ Bubbles and Busts Unlike so many other books on the subject, it explains through a Q & A format with entertaining and informative illustration, providing material that many people ordinarily find uninviting and even intimidating in an easy-to-digest, appealing way.
This book provides a fascinating look at the economics of the arts, heritage and creative industries.
The economic crisis is also a crisis for economic theory. Most analyses of the evolution of the crisis invoke three themes, contagion, networks and trust, yet none of these play a major role in standard macroeconomic models. What is needed is a theory in which these aspects are central. The direct interaction between individuals, firms and banks does not simply produce imperfections in the functioning of the economy but is the very basis of the functioning of a modern economy. This book suggests a way of analysing the economy which takes this point of view. The economy should be considered as a complex adaptive system in which the agents constantly react to, influence and are influenced by, the other individuals in the economy. In such systems which are familiar from statistical physics and biology for example, the behaviour of the aggregate cannot be deduced from the behaviour of the average, or "representative" individual. Just as the organised activity of an ants’ nest cannot be understood from the behaviour of a "representative ant" so macroeconomic phenomena should not be assimilated to those associated with the "representative agent". This book provides examples where this can clearly be seen. The examples range from Schelling’s model of segregation, to contributions to public goods, the evolution of buyer seller relations in fish markets, to financial models based on the foraging behaviour of ants. The message of the book is that coordination rather than efficiency is the central problem in economics. How do the myriads of individual choices and decisions come to be coordinated? How does the economy or a market, "self organise" and how does this sometimes result in major upheavals, or to use the phrase from physics, "phase transitions"? The sort of system described in this book is not in equilibrium in the standard sense, it is constantly changing and moving from state to state and its very structure is always being modified. The economy is not a ship sailing on a well-defined trajectory which occasionally gets knocked off course. It is more like the slime described in the book "emergence", constantly reorganising itself so as to slide collectively in directions which are neither understood nor necessarily desired by its components.
Curiously, economists, whose discipline has much to do with human well-being, have shied away from factoring the study of happiness into their work. Happiness, they might say, is an ''unscientific'' concept. This is the first book to establish empirically the link between happiness and economics--and between happiness and democracy. Two respected economists, Bruno S. Frey and Alois Stutzer, integrate insights and findings from psychology, where attempts to measure quality of life are well-documented, as well as from sociology and political science. They demonstrate how micro- and macro-economic conditions in the form of income, unemployment, and inflation affect happiness. The research is centered on Switzerland, whose varying degrees of direct democracy from one canton to another, all within a single economy, allow for political effects to be isolated from economic effects. Not surprisingly, the authors confirm that unemployment and inflation nurture unhappiness. Their most striking revelation, however, is that the more developed the democratic institutions and the degree of local autonomy, the more satisfied people are with their lives. While such factors as rising income increase personal happiness only minimally, institutions that facilitate more individual involvement in politics (such as referendums) have a substantial effect. For countries such as the United States, where disillusionment with politics seems to be on the rise, such findings are especially significant. By applying econometrics to a real-world issue of general concern and yielding surprising results, Happiness and Economics promises to spark healthy debate over a wide range of the social sciences.