Download PDF by Rhona C. Free: 21st Century Economics: A Reference Handbook

By Rhona C. Free

Curiosity in economics is at an all-time excessive. one of the demanding situations dealing with the state is an economic climate with swiftly emerging unemployment, mess ups of significant companies and industries, and persisted dependence on oil with its wildly fluctuating rate. Economists have handled such questions for generations, yet they've got taken on new that means and significance.

Tackling those questions and encompassing research of conventional monetary conception and themes in addition to those who economists have in basic terms extra lately addressed, 21st Century Economics: A Reference Handbook is a must have reference resource.

Key Features

  • Provides hugely readable summaries of conception and types in key parts of micro and macroeconomics, valuable for college students attempting to get a ''big picture'' experience of the field
  • Includes introductions to appropriate idea in addition to empirical facts, necessary for readers drawn to studying approximately fiscal research of a subject in addition for college students embarking on learn projects
  • Features chapters desirous about state of the art subject matters with allure for economists trying to know about extensions of study into new parts in addition to new techniques
  • Presents models in graphical format and summarizes empirical facts in ways in which don't require a lot heritage in records or econometrics, on the way to maximize accessibility to students

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Additional resources for 21st Century Economics: A Reference Handbook

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Campbell & A. S. ). Indianapolis, IN: Liberty Fund. (Original work published 1776) Smith, A. (1982). The theory of moral sentiments (D. D. Raphael & A. L. ). Indianapolis, IN: Liberty Fund. (Original work published 1759) Theocharis, R. D. (1993). The development of mathematical economics: The years of transition, from Cournot to Jevons. Houndmills, UK: Macmillan. Walras, L. (1977). Elements of pure economics: or the theory of social wealth (W. ). Fairfield, NJ: A. M. Kelley. (Original work published 1874) Weintraub, E.

On this view, at the time of independence, after draining off the surplus production for decades, the colonial powers left their former colonies in the hands of a local elite uninterested in pursuing economic development, and they left a transportation system designed to facilitate export from the colony to the mother country, rather than for internal development within the country or region. The railroads led from the interior of Africa and Latin America to the ports but not between places within each continent.

Human Capital and the Stock of Knowledge Gary Becker (1975) stressed the role of human capital in causing economic growth. Human capital is what economists call the result of investing in education and training, just as investing in productive equipment is called capital formation. Solow’s (1970) growth model shows that this investing in education improves the quality of the labor input and thus adds to the productive capacity of the economy. Mokyr (1990, 2002) provides a history of the development of the stock of knowledge in the West that enabled the elites of societies to advance the mastery of nature for the benefits of the masses of the population.

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