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This publication shows students how basic economics concepts relate to consumer, business, social and personal choices. The 15 lessons make connections between classroom learning and realworld experiences in budgeting, career planning, credit management and housing.
A senior high school home economics text which focuses on decision making.
This book is designed to support you in making difficult decisions in a more - tional way. Based on an established theoretical foundation, it shows that simple requirements concerning rational behavior lead to a general calculus of determ- ing optimal decision alternatives; the book then goes on to present methods and instruments useful for the practical implementation of these concepts. Psychological research has uncovered a multitude of systematic cognitive - ases associated with the intuitive decision process, especially concerning the f- mation of preferences and subjective probability judgments for uncertain events. These developments have elevated prescriptive decision theory to the status of an important discipline with increasingly strong practical ties – nowadays, even m- agers are concerned with decision trees, probability distributions and risk profiles. There is also a wide range of software available on the market to aid users with the use of the instruments. We would like to convince you, by help of the many pr- tical questions and case studies included with most chapters, that the material c- ered is not purely an academic diet but also of high practical nutritional value. The mindset suggested by the theory as an approach for decision problems will surely be of much use to you both in your private and professional life, even if you do not apply the presented methods of decision making support in every little - tail.
This essential guide for curriculum developers, administrators, teachers, and education and economics professors, the standards were developed to provide a framework and benchmarks for the teaching of economics to our nation's children.
Discounting is a perennial problem for economists; it is an essential component of assessing economic comparisons over time, but a number of practical and theoretical difficulties continue to confront its use. This is especially so for economists concerned with long time horizons, such as climate change or the management of the environment and natural resources. Discounting is perhaps the area of economics that generates the most disquiet and confusion from outside the discipline. Economics and the Future tackles the discounting issue from a number of angles, ranging from relatively short-term private financial decisions, to very long-term public issues spanning generations. The authors present differing perspectives and original ideas in a style that remains accessible while addressing some of the more difficult questions about discounting in theory and practice. It reveals that the economic issues regarding time are embedded in a broader social, ethical and philosophical context. This book explores practical and theoretical concerns in making economic comparisons over time, and presents innovative proposals for resolving some of the problems raised. As such, it will be of great interest to a wide-ranging audience including: academics and students focusing on economics, economic consultants, analysts and policy advisors and environmental organizations.
Includes • Introduction to Decision Making • Scenario Planning and Prediction Markets • Group Mechanics • Heuristics and Programmed Decisions • Probability and Base Rate Neglect Decision Making Essentials You Always Wanted to Know prepares new managers and leaders to make those tough decisions they face by providing them with a tool box of decision analysis techniques to help them understand and analyze the decisions they make. The chapters describe key techniques of decision analysis, including: • Cognitive biases and Prospect Theory • Heuristics • Probability and Expected Value • Bayes Theorem • Multi-attribute decision making, including the SMART, Elimination by Aspects, and Even Swaps methods • Game Theory • Prediction Markets • Brainstorming and Groupthink • Black Swan Events. Each chapter provides clear examples of the decision making tools and includes practice examples to help train the reader in using these critical tools. About the Series Decision Making Essentials You Always Wanted to Know is part of the Self-Learning Management Series that helps working professionals moving into management roles. This Self Learning Management Series intends to give a jump start to working professionals, whose job roles demand to have the knowledge imparted in a B-school but haven’t got a chance to visit one. This series is designed to address every aspect of business from HR to Finance to Marketing to Operations, be it any industry. Each book includes basic fundamentals, important concepts, standard and well-known principles as well as practical ways of application of the subject matter. The distinctiveness of the series lies in that all the relevant information is bundled in a compact form that is very easy to interpret. About the Author Mark Koscinski is an assistant professor of accounting practice at Moravian College in Bethlehem, PA, where he teaches a graduate level Decision Analysis class and several advanced accounting classes. He is a certified public accountant, and holds a BA with high honors and MBA from Rutgers University and a doctorate from Drew University. Prior to joining the faculty at Moravian College, Mark was a chief financial officer of various public and private organizations in the defense contracting, toy, investment banking, and banking industries. He has over forty years of experience in the business world, and has supervised every operation of an organization including sales and marketing. Mark is passionate about sharing his knowledge with his students. His background and experience gives him a unique position to write on management topics that are easy to understand for non-MBA graduates. About Vibrant Publishers Vibrant Publishers is focused on presenting the best texts for learning about technology and business as well as books for test preparation. Categories include programming, operating systems and other texts focused on IT. In addition, a series of books helps professionals in their own disciplines learn the business skills needed in their professional growth. Vibrant Publishers has a standardized test preparation series covering the GMAT, GRE and SAT, providing ample study and practice material in a simple and well organized format, helping students get closer to their dream universities.
Perspectives from leaders in decision science at Wharton Organized in part through Wharton's Risk Management and Decision Processes Center, the book assembles leading researchers from Wharton's business faculty who demonstrate how to apply the latest approaches in decision-making from four perspectives: personal, managerial, negotiator, and consumer. Each chapter describes how decisions are actually made, presents the ideal scenario, and then provides practical suggestions for improvement. The subjects range from when consumers will choose variety, integrating intuition into decisions, and applying game theory and strategic decisions, to decision factors in negotiations and how choices are made about insurance and health care.