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Economics for a Fragile Planet: Rethinking Markets, Institutions and Governance
by Edward BarbierIn a world of growing environmental risks and ecological scarcities, ensuring a safe Anthropocene for humankind is essential. Managing an increasingly "fragile" planet requires new thinking on markets, institutions and governance built on five principles: ending the underpricing of nature, fostering collective action, accepting absolute limits, attaining sustainability, and promoting inclusivity. Rethinking economics and policies in this way can help to overcome the global challenges posed by climate change, biodiversity loss, freshwater scarcity, and deteriorating marine and coastal habitats. It requires decoupling wealth creation from environmental degradation through business, policy and financial actions aimed at better stewardship of the biosphere. In this book, renowned environmental economist Edward Barbier offers a blueprint for a greener and more inclusive economy, and outlines the steps we must take now to build a post-COVID world that limits environmental threats while sustaining per capita welfare.
Economics for Middle School: Curriculum and Pedagogy
by Manju AgarwalThis book discusses the importance of teaching fundamental economic concepts as part of the middle school social science curriculum in India. It examines the status of economics in Indian schools, the issues faced in teaching it at the middle school level, and emphasizes the need for increasing the economic literacy of students. It offers valuable recommendations to curriculum planners and educators to help them bolster economics education in Indian schools. The author presents an extensive curriculum framework with the intention of developing intellectual and social skills in students. The book also features classroom tested lessons, content guidelines, and a comprehensive teaching plan for grades six, seven, and eight. A crucial contribution to the study of school education in India, this book will be of interest to teachers, students, and researchers of education, economics education, and economics. It will also be useful for policy planners, professional economists, administrators, school boards, and research institutions.
Economics for the IB Diploma: Prepare for Success
by Paul HoangSupport your students to achieve their best grade with the ultimate course companion; providing clear and concise explanations of all new framework requirements and topics, with exam practice questions to strengthen and develop learning.- Build confidence and reinforce skills with guidance on how to include key concept, content and context connections into exam answers.- Practise and revise effectively from a range of strategies and a variety of high-achieving example answers.- Achieve the best grades through advice given from a highly experienced author on how to approach and explore a topic through inquiry, including additional top tips and common mistakes.- Focus revision by using key terms with definitions listed for each of the nine key concepts of the new course.- Answers are available to download for free: www.hoddereducation.co.uk/ib-extras
The Economics of Affordable Housing (Routledge Advances in Regional Economics, Science and Policy)
by Alexander StyhreThe economic system of competitive capitalism has proven to be both resilient and flexible over time and has contributed to the economic welfare of citizens in liberal and coordinated market economies in diverse regions and countries. At the same time, over the entire post-World War II period, there has been a notable endemic shortage of affordable housing in many advanced economies. This book points at both the causes and the consequences of this circumstance and provides an integrated economic and legal view of how housing production is dependent on housing finance, which, in turn, means that legal conditions and the sovereign state play an active role. Further, the book contributes to the literature from two otherwise partially separated disciplines-housing and urban development studies on the one hand and the institutional centrality of the finance industry in the contemporary economic system on the other. The author asserts that although somewhat assimilated due to the ambitions of policy makers to optimize social and economic welfare for their constituencies, the combining of these two realms of expertise generates many favorable outcomes, but also some costs derived from finance industry instabilities. The book connects theoretical perspectives and provides an empirical explanation for how affordable housing is generated in an actual real world economy context. The book will be relevant to the work of a number of academic disciplines including economics, government studies, housing policy and urban planning, social geography and law and society.
Economics of Agricultural Development: World Food Systems and Resource Use (Routledge Textbooks in Environmental and Agricultural Economics)
by George W. Norton Jeffrey Alwang William A. MastersEconomics of Agricultural Development examines the causes, severity, and effects of poverty, population growth, and malnutrition in developing countries. It discusses potential solutions to these problems, progress made in many countries in recent years, and the implications of globalization for agriculture, poverty, and the environment. Topics covered in the book include: Means for utilizing agricultural surpluses to further overall economic development The sustainability of the natural resource environment Gender issues in relation to agriculture and resource use The contribution of improved technologies to agricultural development The importance of agricultural policies and institutions to development and trade Actions to encourage more rapid agricultural and economic development This new edition reflects the following developments: Growth in environmental challenges due to climate change Continued progress in agricultural and economic development in many low-income countries while other countries and regions are being left behind Continued growth in demand for higher-valued farm products This book is essential reading for undergraduate students seeking to understand the economics of agricultural development and the world food system, including environmental and human consequences, international trade, and capital flows. It contains a wealth of real-world case studies and is accompanied by a website.
The Economics of Banking
by Jin CaoThe Economics of Banking provides an accessible overview of banking theory and practice. It introduces readers to the building blocks of fundamental theories and provides guidance on state-of-the-art research, reflecting the dramatic changes in the banking industry and banking research over the past two decades. This textbook explores market failure and financial frictions that motivate the role of financial intermediaries, explains the microeconomic incentives and behavior of participants in banking, examines microlevel market stress caused by economic recessions and financial crises, and looks at the role of monetary authorities and banking regulators to reduce systemic fragility as well as to improve macroeconomic stability. It delivers broad coverage of both the micro and macroeconomics of banking, central banking and banking regulation, striking a fine balance between rigorous theoretical foundations, sound empirical evidence for banking theories at work, and practical knowledge for banking and policymaking in the real world. The Economics of Banking is suitable for advanced undergraduate, master’s, or early PhD students of economics and finance, and will also be valuable reading for bankers and banking regulators.
The Economics of Banking and Finance in Africa: Developments in Africa’s Financial Systems (Palgrave Macmillan Studies in Banking and Financial Institutions)
by Joshua Yindenaba Abor Charles Komla Delali AdjasiThis book evaluates the characteristics and developments in Africa’s financial systems, including monetary policy, structured finance, sustainable finance and banking, FinTech, RegTech, SupTech, inclusive finance, the role of regulation in dealing with banking crises, the impact of the COVID-19 pandemic on Africa’s financial systems and how to reform the post-COVID-19 financial systems. It is made up of contributions from scholars in finance and economics as well as financial market practitioners. Banking and the financial markets play a significant role in the growth of various economies. Although a number of handbooks on banking and finance exist, they mainly focus on Europe, America and Asia. Banks and financial markets in Africa are confronted with different challenges and therefore present a unique case to understand Africa’s financial systems. A number of African countries have experienced banking crises and it is important to examine these issues as well as the regulatory regimes required to address them. This edited book contributes to the limited texts in the area by providing a comprehensive resource on banking and finance for students, scholars, researchers, policymakers, and financial market practitioners. It contains various theoretical and empirical chapters on banking and finance in Africa.
The Economics of Catalan Separatism
by Ferran BrunetThis book analyses the economic consequences of the regional government of Catalonia's challenge to democracy and the rule of law in Spain. This process, started in 2010, culminated in a coup d'état in the autumn of 2017. The book has three parts. First: The circumstances behind the challenge: economic structure, social and political aspects. Second: The economic impacts of the resulting huge political instability and social polarisation, and the downturn in GDP, investment, competitiveness, Barcelona's appeal, and flight of companies and banks to Madrid. Third: Independence would mean collapse of trade with the rest of Spain and the EU, expulsion from the eurozone, fall of GDP, plummeting tax revenue, soaring unemployment and, finally, conversion of this hypothetical new Catalonia into a failed, vassal and totalitarian state. This book is destined to be the foremost work of reference on the consequences of the separatist threat to Spain, including Catalonia's current decline.
The Economics of Corporate Trade Credit in Europe (Routledge Studies in the Economics of Business and Industry)
by Julia Koralun-Bereźnicka Dawid SzramowskiThis book is a research monograph addressed to a wide range of academics interested in corporate short-term capital. The study shows the role of trade credit in the functioning of economic entities. It constitutes a comprehensive source of knowledge about the role of trade credit in the development of enterprises, as well as the impact of this form of finance on the development of economies. Apart from an extensive review of the theoretical aspects of the role of trade credit in the economy, the study discusses the importance of factors influencing trade credit behaviour. Trade credit, despite its versatility, has not yet been fully described, particularly with regard to the specificity of domestic markets. This study aggregates and supplements the existing sources. The monograph is of an international character, as it covers a substantial group of European countries. Therefore, it is likely to have international appeal. The findings may be of interest to those involved in finance management. Understanding the differences in receivables management resulting from the country specificity can contribute to a better understanding of business finance and its operational functions. This knowledge may support the effective management of receivables and liabilities, especially in companies operating on the global market.
The Economics of Digital Shopping in Central and Eastern Europe (Elements in the Economics of Emerging Markets)
by Barbara Grabiwoda Bogdan MrózTransformations caused by increasing virtual connectivity reach all business touchpoints, but the surge towards digital technologies is not distributed evenly across European markets, with the Central & Eastern Europe (CEE) region showing the strongest diversity of digital adoption levels. This Element outlines the characteristics of CEE digital markets, along with an additional contextual layer investigating online consumer behaviors. In-depth analysis of the similarities and differences in the region will allow the pace of ongoing digitization to be traced. The authors' objective in delivering this Element is to analyze the opportunities presented by the digital economy in CEE and to provide an actionable outlook for the e-commerce potential within the region's markets. Observations are based on in-depth analysis of dependencies between globalization of consumer behaviors and ongoing barriers to digital adoption caused by both economic and geo-political limitations.
The Economics of Digital Transformation: The Disruption of Markets, Production, Consumption, and Work (Routledge Studies in the Economics of Innovation)
by Katarzyna Śledziewska Renata WłochThe unprecedented Covid-19 crisis revealed the scale and scope of a new type of economy taking shape in front of our very eyes: the digital economy. This book presents a concise theoretical and conceptual framework for a more nuanced analysis of the economic and sociological impacts of the technological disruption that is taking place in the markets of goods and services, labour markets, and the global economy more generally. This interdisciplinary work is a must for researchers and students from economics, business, and other social science majors who seek an overview of the main digital economy concepts and research. Its down-to-earth approach and communicative style will also speak to businesses practitioners who want to understand the ongoing digital disruption of the market rules and emergence of the new digital business models. The book refers to academic insights from economics and sociology while giving numerous empirical examples drawn from basic and applied research and business. It addresses several burning issues: how are digital processes transforming traditional business models? Does intelligent automation threaten our jobs? Are we reaching the end of globalisation as we know it? How can we best prepare ourselves and our children for the digitally transformed world? The book will help the reader gain a better understanding of the mechanisms behind the digital transformation, something that is essential in order to not only reap the plentiful opportunities being created by the digital economy but also to avoid its many pitfalls.
Economics of Energy Security: Perspectives of Natural Gas Exporters (Routledge Explorations in Environmental Economics)
by Honorata Nyga-ŁukaszewskaThere has been a burgeoning interest in energy security in recent years due to the transformation of the energy landscape through deepening market deregulation, rising environmental challenges, growing energy hunger, and significant political changes. Depicting energy security as an evolving concept that absorbs economic and political conditions, this book adopts an economic approach to energy security in the international gas market. Uniquely, the book explores the theoretical assumptions and practical consequences attached to both demand and supply-side security in global energy markets. It investigates why energy exporters are so protective of independence in energy exports. The book also looks at the critically important issue of environmental aspects of energy security, particularly around climate change. It also analyses the potential for a cartel in the international gas market, similarly to the oil industry. This book will be of much interest to readers in energy economics, energy security, energy policy, IR/security studies, and relevant policy-makers.
The Economics of Farm Management: A Global Perspective (Routledge Textbooks in Environmental and Agricultural Economics)
by Kent Olson John WestraFuture farm managers need a range of tools and knowledge to run successful businesses, and this accessible textbook provides the required foundations from economics and management, applied to the farm context. In today’s world where farms are subject to ever-changing industrial, labor, demographic, and technological factors, this textbook provides a clear focus and methodology for business stability and growth. It covers core microeconomic and macroeconomic principles, plus the full range of management topics, from accounting and marketing to operations management and human resource management. It also covers family succession planning and farming mega-trends. This second edition has been updated with the latest data and literature, and gives deeper attention to sustainability and conservation. It also offers a broader range of examples, showcasing the diversity of farm types and farm sizes across the US and globally. Instructor materials are available as digital supplements. This textbook will be a valuable resource for courses in farm management, ranch management, agribusiness, and agricultural economics.
The Economics of Financial Services in Emerging Markets: Measuring the Output of the Banking and Insurance Industries (Banking, Money and International Finance)
by Bhagirath Prakash BariaAny enquiry into the nature, performance, role, demerits, growth, efficiency, or other aspects of financial services such as banking and insurance activities, requires rigorous estimates of their economic output, i.e., the economic contributions made by these firms, as well as by the industries as a whole. Accordingly, this book condenses several theoretical, methodological, empirical, and philosophical issues in conceptualizing, measuring, and empirically operationalizing the economic output of the banking and insurance industries. The analytical focus is on both Global and Emerging Markets perspectives. The book synthesizes applied and conceptual evidence to locate the chosen theme's analytical patterns, consensus, and disagreements. The selected subject matter is studied within the firm-level and aggregate settings, bringing literature of varied scopes together. Contributions from various international academics, practitioners, and policymakers further enrich the narrative. The book concludes with data-driven case studies that analyze the extent to which the critical performance parameters of the banking and insurance industries in the BRIICS economies – including estimation of aggregate industry-level partial factor productivities, total factor productivity, technical efficiency, and returns to scale – vary concerning alternate measures of their output. The present work also provides a brief note on the inputs measurement dimension, following which there is a discussion on the limitations, future scope, and conclusions. This work will be valuable for researchers and policymakers undertaking performance analyses related to banking and insurance activities. It shall provide them with the examination of a plethora of analytical options and related issues on the theory and praxis of output measurement, all finely organized into one single volume.
The Economics of Firm Productivity: Concepts, Tools and Evidence
by Carlo Altomonte Filippo di MauroProductivity varies widely between industries and countries, but even more so across individual firms within the same sectors. The challenge for governments is to strike the right balance between policies designed to increase overall productivity and policies designed to promote the reallocation of resources towards firms that could use them more effectively. The aim of this book is to provide the empirical evidence necessary in order to strike this policy balance. The authors do so by using a micro-aggregated dataset for 20 EU economies produced by CompNet, the Competitiveness Research Network, established some 10 years ago among major European institutions and a number of EU productivity boards, National Central Banks, National Statistical institutes, as well as academic Institutions. They call for pan-EU initiatives involving statistical offices and scholars to achieve a truly complete EU market for firm-level information on which to build solidly founded economic policies.
The Economics of Gender in China: Women, Work and the Glass Ceiling (Routledge Studies in Gender and Economics)
by Sisi SungChina’s rapid socio-economic development has achieved remarkable equalizing conditions between men and women in the aspects of health, education and labor force participation, but the glass ceiling phenomenon has become more prominent. The book develops a cross-disciplinary paradigm, with economics at its core, to better understand gender in China and women in management in the Chinese business context. The theoretical perspective integrates the knowledge and evidence from cognate disciplinary strands, such as economics, sociology, management studies, and the Chinese literature, into one unified framework. In-depth interviews with managers in China’s largest enterprises complement the theoretical perspective with rich empirical details to examine women’s managerial experiences and career choices. The book’s argument sheds light on the power of stereotypes that specify women’s roles in the family, organization, and society. It shows that understanding the socio-psychological and organizational dynamics of stereotyping in the Chinese context, as well as how Chinese women make career decisions, recognizing and deploying these expectations, provides new perspectives on the underrepresentation of women among business leaders in China. The book offers multi-disciplinary evidence on the economics of gender in China that is highly relevant for gender studies in general, and across a number of subject areas, and it can be used in any setting as an introductory reference.
Economics of Markets: Neoclassical Theory, Experiments, and Theory of Classical Price Discovery
by Sabiou M. Inoua Vernon L. SmithThis book establishes that neoclassical economics based on the marginal utility calculus failed to derive a theory of consumer market price discovery consistent with the experimental market evidence. Such markets involve inherently discrete final-demand items bought for consumption and not subject to resale. Classical economists following Adam Smith articulated a rich narrative of price discovery theory consistent with experimental evidence based on operational concepts of discrete demand values (maximum willingness-to-pay), and symmetrically, supply costs (minimum willingness-to-accept). We develop and extend a mathematical model of classical market price formation. Chapter 1 & 2 describes this theme and chapter 3 connects it with experiments. Chapter 4 builds on experimental examples for an intuitive overview of the theory. A partial equilibrium version of the theory constitutes Chapter 5. Chapter 6 extends this framework to price formation by wealth constrained agents in multiple-goods markets. Chapter 7 applies this framework to the study of re-tradable durable-goods and financial claims that are subject to sources of instability absent in markets for consumer non-durables.
The Economics of Pandemics: Exploring Globally Shared Experiences
by S. Niggol SeoThis book offers a lively account of the humanitarian, economic, societal, and planetwide impacts of the pandemics, the COVID-19 pandemic included, which are traced back to as early as the 14th century plague pandemic. Placing the pandemics along with other globally shared resources, such as global warming, AI singularity, and high-risk physics experiments, each of the nine chapters of the book discusses the global health crises from a variety of unique standpoints, including infectious diseases, economics, governance, and public health. Based on the historical records of past pandemics and the rich data from the COVID-19 pandemic, a conceptual framework is presented for the economics of pandemics as a globally shared experience.This book aims to critically examine salient features in the global responses to the COVID-19 pandemic, including global governance, lockdowns, radical movements, and mRNA vaccines. The book will be a valuable resource to students, researchers, and policymakers who are working in the fields of environmental economics, global-scale public goods, and health economics.
Economics of Power Systems (International Series in Operations Research & Management Science #327)
by Makoto Tanaka Antonio J. Conejo Afzal S. SiddiquiThis book describes the latest microeconomic concepts and operations research (OR) techniques needed to comprehend the design and operation of power markets, as well as the actions of their agents: producers, consumers, operators, and regulators. This is critical when it comes to addressing a constantly evolving power system environment that incorporates an increasing number of no-marginal-cost renewable sources, increasingly competitive storage facilities, increasingly responsive demands, and widespread communication channels that allow distributed decision-making. Such evolving environments call for a re-examination of the microeconomic concepts and OR techniques required by graduate students and practitioners in the electric energy field. This accessible, tutorial-style book features numerous illustrative examples to help readers grasp the economic concepts and OR procedures used by power market professionals. The authors explian these concepts and procedures and present a vision of a renewable-dominated marketplace. Each chapter also includes exercises.
Economics of Power Systems: Fundamentals for Sustainable Energy (Springer Texts in Business and Economics)
by Christoph Weber Dominik Möst Wolf FichtnerIn order to manage the transition towards a sustainable future electricity system, an in-depth understanding of the key technological, economic, environmental and societal drivers for electricity markets is required. Suitable for advanced undergraduate and graduate students, this textbook provides an overview of these drivers and introduces readers to major economic models and empirical evidence for the study of electricity markets and systems. Readers will learn about electricity generation, demand, transport, and storage, as well as the fundamentals of grid and electricity markets in Europe. By introducing them to state-of-the-art models from operations research and economics, the book provides a solid basis for analytical insights and numerical modeling. Furthermore, the book discusses the policy instruments and design choices for electricity market regulation and sustainable power system development, as well as the current challenges for smart energy systems.
The Economics of Professional Road Cycling (Sports Economics, Management and Policy #19)
by Daam Van ReethThis volume brings together current academic research and knowledge on the economics and management of professional road cycling. Each chapter treats a particular economic aspect of the sport, from organizational structure to marketing, finance, media coverage, labor, strategic behavior, and competitive balance. By discussing the existing research and complementing it with the newest concepts, ideas and data on professional road cycling, this book sets an agenda for further academic research while providing insights for all stakeholders in cycling: governments, cycling's governing bodies, team managers, race organizers, sponsors, media. Furthermore, the unique characteristics of the sport of cycling explored within this text inform broader management and industrial organization research, as they extend analyses of team labor, broadcast revenue generation, and sponsorship financing models. Revised and updated for the second edition, this volume includes new chapters on women’s professional road cycling, the economic impact of hosting major cycling events, and the willingness to pay for professional road cycling events. This book is equally of interest to academic researchers, students studying sports economics, and policy makers, such as race organizers, team managers, and sponsors.
The Economics of Property and Planning: Future Value
by Graham SquiresThis book introduces the interlocking disciplines of property and planning to economic theory and practice. Unlike any other available textbook, The Economics of Property and Planning skilfully introduces the reader to the interplay between property and planning using an economic lens. As resources become scarce, there is a growing need for students to understand the principles of economics in property and planning, especially given the rapid social, environmental, technological, and political changes that are shaping places. The book begins with an outline of key economists and economic problems, then resources and scarcity, before examining macro- and microeconomic factors at play in property and planning. Furthermore, this book covers a variety of topics, including spatial and locational modelling, fiscal approaches to redistribution, regeneration and renewal, and transport and infrastructure financing. There is also a particular focus on contemporary issues such as climate change, environmental limits to economic growth, sustainability and resilience, and affordable housing. This book also introduces practical evaluation tools and appraisal, plus a look at property and planning with respect to macroeconomic objectives, policy, and new directions. With property and planning essential factors in economic thinking and doing, this book provides insight into what future places will look like in real terms and how they will be shaped by policy. Targeted disciplines for this book include Economics, Planning, Property, Construction, Geography, Environmental Management, Sustainability, Housing, Built Environment, Land Economy, Urban Studies, Regional Studies, and Public Policy.
Economics of Renewable Energy: An Assessment of Innovations with Statistical Data
by Yoram KrozerThe book provides a comprehensive review of renewable energy from an economic perspective throughout the last two hundred years, starting from traditional renewable energy based on bio and hydro energy. The focus is on modern renewable energy based on geothermal, wind, and solar energy. It emerged when innovative entrepreneurs captured opportunities for valuable energy services. As the services with renewable energy expanded, the costs of technologies decreased entailing global commercialisation. This enables larger access to energy and emission reduction of carbon dioxide, but also causes larger differences in the energy resources across countries which impedes international policies. That optimistic viewpoint on the shift to the global low-carbon economy is largely based on statistical data about purchasing power, energy consumption and businesses, and valuable energy services in many countries on all continents. The data are presented in 70 tables, graphs, and figures, most of them original. Interpretation of the data are useful in support of decisions making about sustainable development in civil society, businesses, and policy makers as well as for the verifications of scholarly hypotheses and projections in energy and climate policies.
Economics of Terrorism and Counter-Terrorism Measures: History, Theory, and Evidence
by Satya P. DasThis textbook presents a systematic study of terrorism from the standpoint of economic analysis. Choosing the kind and level of measures to counter terror is, to a large extent, an economic decision, as counterterrorism (CT) measures and their side effects are costly. This text, contains theoretical models that illustrate the economic mechanisms of different types of CT measures. A vast array of empirical studies and regularities are also presented. Some chapters discuss in depth the empirical results in the literature as well as the underlying statistical/econometric methodologies that go beyond ordinary regression. General Appendix A provides an exposition of the concept of compensating surplus and elements of the basic game theory, to help the reader with an economics background recapitulate micro theory concepts used in the book. General Appendix B lays out the notions of hypothesis testing, regression and more advanced statistical/econometric methods, so that the reader understands or at least can have an intuitive idea of how the results are derived and what they mean with some degree of inner comfort. Aimed at students at the intermediate undergraduate and graduate levels, the text requires knowledge of basic micro, first-order conditions of profit or utility maximization and cost minimization, and statistical concepts of hypothesis testing and regression. This textbook is intended for use in courses in economics, political science, criminal justice, and emergency management. Additionally, professionals working with national security in government and non-governmental organizations may find it useful.
The Economics of the Long Period (Themes in the Social Sciences)
by Gregory PonthiereThis book provides a non-technical introduction to Unified Growth Theory (UGT), that is, the study of history as a succession of economic regimes. It first focuses on the canonical example of regime shift: the transition from the regime of Malthusian stagnation to the modern regime of sustained economic growth. Then, it broadens the perspectives on historical change by examining other regime shifts involving institutional and environmental forces. This book fills a gap in the market by providing a more accessible treatment of UGT and invites readers to explore ideas of continuity and discontinuity in history.