Your Macroeconomic Edge
Your Macroeconomic Edge

Author: Philip J. Romero

Publisher: Business Expert Press

Published: 2011-12-16

Total Pages: 264

ISBN-13: 1606493213

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Most "managerial economics" textbooks are thinly disguised microeconomics texts: highly theoretical, too dependent on abstract and unproven assumptions, and simply undigestible by busy, practical-minded executives/readers. Furthermore, such texts leave it up to the reader to apply their lessons so as to gain value from the knowledge, and to reinforce that knowledge through practice. The "theory of the firm" does not resonate with most corporate executives. But in fact, economic forces drive the context for all our important business decisions: When and how much to expand or contract; which markets to enter and exit; when to raise or lower prices; and how to invest surplus resources (retained earnings for companies and savings for individuals). This book is an application of economics (both micro and macroeconomics) to one of the central challenges of our age for any citizen in a developed economy: How to invest their resources in a changed economic landscape. It contends that the quarter century from the early 1980s to the late 2000s was a unique historical period, creating an exceptionally benign commercial and investing environment. It will not return once the Great Recession is firmly behind us. The core message of the book is an extended application of economic principles and reasoning, phrased in a form readily digestible to any interested layman. It can be used as a companion to a traditional economics text, or as a stand-alone application-oriented text. The main application explored is of investment decisions of corporations seeking to deploy retained earnings, and of individuals seeking to prepare for the day when they no longer rely on wage income.

Complex Economic Dynamics
Complex Economic Dynamics

Author: Richard H. Day

Publisher:

Published: 2000-02

Total Pages: 0

ISBN-13: 9780262528603

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V. 1. An introduction to dynamical systems and market mechanisms -- v. 2. An introduction to macroeconomics dynamics.

Exploring Macroeconomics
Exploring Macroeconomics

Author: Robert L. Sexton

Publisher: South Western Educational Publishing

Published: 2004

Total Pages: 0

ISBN-13: 9780324260793

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This is not a traditional encyclopedic text filled with technical details. Rather it is a modern, "back-to-basics" book written expressly to promote economic literacy and engage students in learning about how economics affects them as citizens in our society. Coupled with pedagogical innovations that are well-grounded in learning theory research, the text's visually effective design and captivating content inspires students to actually read the chapters. It succeeds like no other text in taking the intimidation out of economics and in meeting its goal of explaining the material in a manner that will "bring students the same feeling of excitement and relevance" the author felt when taking his first economics class.

Introduction to Business
Introduction to Business

Author: Lawrence J. Gitman

Publisher:

Published: 2024-09-16

Total Pages: 1455

ISBN-13:

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Introduction to Business covers the scope and sequence of most introductory business courses. The book provides detailed explanations in the context of core themes such as customer satisfaction, ethics, entrepreneurship, global business, and managing change. Introduction to Business includes hundreds of current business examples from a range of industries and geographic locations, which feature a variety of individuals. The outcome is a balanced approach to the theory and application of business concepts, with attention to the knowledge and skills necessary for student success in this course and beyond. This is an adaptation of Introduction to Business by OpenStax. You can access the textbook as pdf for free at openstax.org. Minor editorial changes were made to ensure a better ebook reading experience. Textbook content produced by OpenStax is licensed under a Creative Commons Attribution 4.0 International License.

Global Economic Prospects, June 2021
Global Economic Prospects, June 2021

Author: World Bank

Publisher: World Bank Publications

Published: 2021-08-03

Total Pages: 339

ISBN-13: 1464816662

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The world economy is experiencing a very strong but uneven recovery, with many emerging market and developing economies facing obstacles to vaccination. The global outlook remains uncertain, with major risks around the path of the pandemic and the possibility of financial stress amid large debt loads. Policy makers face a difficult balancing act as they seek to nurture the recovery while safeguarding price stability and fiscal sustainability. A comprehensive set of policies will be required to promote a strong recovery that mitigates inequality and enhances environmental sustainability, ultimately putting economies on a path of green, resilient, and inclusive development. Prominent among the necessary policies are efforts to lower trade costs so that trade can once again become a robust engine of growth. This year marks the 30th anniversary of the Global Economic Prospects. The Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing economies, on a semiannual basis (in January and June). Each edition includes analytical pieces on topical policy challenges faced by these economies.

Open Economy Macroeconomics
Open Economy Macroeconomics

Author: Martín Uribe

Publisher: Princeton University Press

Published: 2017-04-04

Total Pages: 646

ISBN-13: 0691158770

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A cutting-edge graduate-level textbook on the macroeconomics of international trade Combining theoretical models and data in ways unimaginable just a few years ago, open economy macroeconomics has experienced enormous growth over the past several decades. This rigorous and self-contained textbook brings graduate students, scholars, and policymakers to the research frontier and provides the tools and context necessary for new research and policy proposals. Martín Uribe and Stephanie Schmitt-Grohé factor in the discipline's latest developments, including major theoretical advances in incorporating financial and nominal frictions into microfounded dynamic models of the open economy, the availability of macro- and microdata for emerging and developed countries, and a revolution in the tools available to simulate and estimate dynamic stochastic models. The authors begin with a canonical general equilibrium model of an open economy and then build levels of complexity through the coverage of important topics such as international business-cycle analysis, financial frictions as drivers and transmitters of business cycles and global crises, sovereign default, pecuniary externalities, involuntary unemployment, optimal macroprudential policy, and the role of nominal rigidities in shaping optimal exchange-rate policy. Based on courses taught at several universities, Open Economy Macroeconomics is an essential resource for students, researchers, and practitioners. Detailed exploration of international business-cycle analysis Coverage of financial frictions as drivers and transmitters of business cycles and global crises Extensive investigation of nominal rigidities and their role in shaping optimal exchange-rate policy Other topics include fixed exchange-rate regimes, involuntary unemployment, optimal macroprudential policy, and sovereign default and debt sustainability Chapters include exercises and replication codes

Economic Dynamics in Discrete Time
Economic Dynamics in Discrete Time

Author: Jianjun Miao

Publisher: MIT Press

Published: 2014-09-19

Total Pages: 737

ISBN-13: 0262325608

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A unified, comprehensive, and up-to-date introduction to the analytical and numerical tools for solving dynamic economic problems. This book offers a unified, comprehensive, and up-to-date treatment of analytical and numerical tools for solving dynamic economic problems. The focus is on introducing recursive methods—an important part of every economist's set of tools—and readers will learn to apply recursive methods to a variety of dynamic economic problems. The book is notable for its combination of theoretical foundations and numerical methods. Each topic is first described in theoretical terms, with explicit definitions and rigorous proofs; numerical methods and computer codes to implement these methods follow. Drawing on the latest research, the book covers such cutting-edge topics as asset price bubbles, recursive utility, robust control, policy analysis in dynamic New Keynesian models with the zero lower bound on interest rates, and Bayesian estimation of dynamic stochastic general equilibrium (DSGE) models. The book first introduces the theory of dynamical systems and numerical methods for solving dynamical systems, and then discusses the theory and applications of dynamic optimization. The book goes on to treat equilibrium analysis, covering a variety of core macroeconomic models, and such additional topics as recursive utility (increasingly used in finance and macroeconomics), dynamic games, and recursive contracts. The book introduces Dynare, a widely used software platform for handling a range of economic models; readers will learn to use Dynare for numerically solving DSGE models and performing Bayesian estimation of DSGE models. Mathematical appendixes present all the necessary mathematical concepts and results. Matlab codes used to solve examples are indexed and downloadable from the book's website. A solutions manual for students is available for sale from the MIT Press; a downloadable instructor's manual is available to qualified instructors.

Computational Macroeconomics for the Open Economy
Computational Macroeconomics for the Open Economy

Author: G. C. Lim

Publisher: MIT Press

Published: 2024-08-06

Total Pages: 251

ISBN-13: 0262552833

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How to use nonlinear dynamic models in policy analysis. Policymakers need quantitative as well as qualitative answers to pressing policy questions. Because of advances in computational methods, quantitative estimates are now derived from coherent nonlinear dynamic macroeconomic models embodying measures of risk and calibrated to capture specific characteristics of real-world situations. This text shows how such models can be made accessible and operational for confronting policy issues. The book starts with a simple setting based on market-clearing price flexibility. It gradually incorporates departures from the simple competitive framework in the form of price and wage stickiness, taxes, rigidities in investment, financial frictions, and habit persistence in consumption. Most chapters end with computational exercises; the Matlab code for the base model can be found in the appendix. As the models evolve, readers are encouraged to modify the codes from the first simple model to more complex extensions. Computational Macroeconomics for the Open Economy can be used by graduate students in economics and finance as well as policy-oriented researchers.

Macroeconomics, Third Edition
Macroeconomics, Third Edition

Author: David G. Tuerck

Publisher: Business Expert Press

Published: 2021-02-01

Total Pages: 256

ISBN-13: 1953349250

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This book brings these theories together under one methodological roof, where the choices made by economic agents depend on their varying perceptions of the economic constraints they face, combining new classical principles, under which the economy operates at full employment, with theories that allow for extended periods of underemployment brought about by mixed signals from workers and employers. The task of macroeconomics is to provide the tools for understanding the performance of the aggregate economy, as measured by production, employment, inflation, and other economic indicators. Most books on this topic compare different theories of macroeconomic performance, under alternative assumptions about how individual consumers, workers and investors adjust to the economic environment in which they find themselves. This book brings these theories together under one methodological roof, where the choices made by economic agents depend on their varying perceptions of the economic constraints they face, combining new classical principles, under which the economy operates at full employment, with theories that allow for extended periods of underemployment brought about by mixed signals from workers and employers. The book takes up modern monetary theory and its bearing on the massive deficits run up the federal government over the ongoing ‘corona contraction’ and the earlier ‘great contraction’. The author also reviews the policy interventions undertaken by the federal government during these contractions, with a view toward assessing their effectiveness.

The Holy Grail of Macroeconomics
The Holy Grail of Macroeconomics

Author: Richard C. Koo

Publisher: John Wiley & Sons

Published: 2011-11-21

Total Pages: 373

ISBN-13: 1118179188

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The revised edition of this highly acclaimed work presents crucial lessons from Japan's recession that could aid the US and other economies as they struggle to recover from the current financial crisis. This book is about Japan's 15-year long recession and how it affected current theoretical thinking about its causes and cures. It has a detailed explanation on what happened to Japan, but the discoveries made are so far-reaching that a large portion of economics literature will have to be modified to accommodate another half to the macroeconomic spectrum of possibilities that conventional theorists have overlooked. The author developed the idea of yin and yang business cycles where the conventional world of profit maximization is the yang and the world of balance sheet recession, where companies are minimizing debt, is the yin. Once so divided, many varied theories developed in macro economics since the 1930s can be nicely categorized into a single comprehensive theory- The Holy Grail of Macro Economics