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'Microeconomics for Business and Marketing is an extremely impressive piece of work. I would go so far as to say that it is without any doubt the best textbook on microeconomics which is available, both in terms of the range of material covered and in the way in which it is presented so clearly. 'It will be useful for non-specialist economics students, because it shows them that economics, when done properly, can say some interesting things without making ridiculous assumptions. and specialists will benefit from having such a wide range of material made accessible in a single text. I would recommend it without hesitation.' - Paul Ormerod, author of The Death of Economics and Consultant, Henley Centre for Forecasting Microeconomics for Business and Marketing is a wide-ranging, innovative textbook which will stimulate students and teachers alike. It will be of particular relevance to students of marketing, commerce and business strategy. Specifically designed with today's larger class sizes in mind, the book encourages students to question and to develop both analytical and written skills, as well as to use economics as a tool for problem solving.
This book provides the most comprehensive treatment to date of microeconometrics, the analysis of individual-level data on the economic behavior of individuals or firms using regression methods for cross section and panel data. The book is oriented to the practitioner. A basic understanding of the linear regression model with matrix algebra is assumed. The text can be used for a microeconometrics course, typically a second-year economics PhD course; for data-oriented applied microeconometrics field courses; and as a reference work for graduate students and applied researchers who wish to fill in gaps in their toolkit. Distinguishing features of the book include emphasis on nonlinear models and robust inference, simulation-based estimation, and problems of complex survey data. The book makes frequent use of numerical examples based on generated data to illustrate the key models and methods. More substantially, it systematically integrates into the text empirical illustrations based on seven large and exceptionally rich data sets.
These nineteen original essays by such internationally known economists as Paul Samuelson, Albert Ando, Nissan Liviatan, Wilhelm Krelle, Phoebus Dhrymes, Mitsuo Saito, T. W. Anderson, R. J. Ball, and twenty-two others, pay tribute to Lawrence Klein, recipient of the 1980 Nobel Prize in economics. But this collection is global in more than one sense. Aspects of theory, methodology, micro and macro and open-economy applications are all covered.Among the most notable essays are "Equilibrium Business-Cycle Models: An Appraisal" by Albert Ando (in part I, Economic Theory), "Comparison of the Densities of the TSLS and LIMLK Estimators for Simultaneous Equations" by T. W. Anderson, Naoto Kunitomo, and Takumitzu Sawa (in part II, Econometric Methodology, "The Share of Services in Economic Growth" by Irving Kravis, Alan Heston, and Robert Summers (in part III, Applied Microeconomics,) "Redistribution of Earnings by Unemployment and Inflation" by Jere Behrman and Paul Taubman (in part IV, Applied Macroeconomics: National), and "A Global Model of Oil-Price Impacts" by F. Gerard Adams and Jaime Marquez and "A Decomposition of International Income Multipliers" by Bert Hickman and Victor Filatov (in part V, Applied Macroeconomics: International).F. Gerard Adams is Professor of Economics at the University of Pennsylvania and Bert G. Hickman is Professor of Economics at Stanford University.
Conventional economic analysis of property rights in natural resources is too narrow and restrictive to allow for effective comparisons between alternative institutional structures. In this book, a conceptual framework is developed for the analysis of the
A central concern of economics is how society allocates its resources. Modern economies rely on two institutions to allocate: markets and governments. But how much of the allocating should be performed by markets and how much by governments? This collection of readings will help students appreciate the power of the market. It supplements theoretical explanations of how markets work with concrete examples, addresses questions about whether markets actually work well and offers evidence that supposed "market failures" are not as serious as claimed. Featuring readings from Hayek, William Baumol, Harold Demsetz, Daniel Fischel and Edward Lazear, Benjamin Klein and Keith B. Leffler, Stanley J. Liebowitz and Stephen E. Margolis, and John R. Lott, Jr., this book covers key topics such as: • Why markets are efficient allocators • How markets foster economic growth • Property rights • How markets choose standards • Asymmetric Information • Whether firms abuse their power • Non-excludable goods • Monopolies The selections should be comprehended by undergraduate students who have had an introductory course in economics. This reader can also be used as a supplement for courses in intermediate microeconomics, industrial organization, business and government, law and economics, and public policy.