...more I want to continue to turn the pages and see what else he is going to speak about. Capra starts off Chapter 7 speaking of a subject matter that I have had interest in for quite some time…economics. Capra mentions that the ‘Cartesian framework is often quite inappropriate for the phenomena they are describing, and consequently their models have become increasingly unrealistic’ (1982, 188). Capra specifically mentions that this thought is quite prevalent in economics. I yearn to understand exactly where he is going with this thought, so I read on. I have always believed that the social sciences needed to blend their ideas and theories with economists and political scientists, sociology, and historians, as their basic forces are related to one another. From Academia to our government, this fragmentary approach needs to change as all need to combine all forces from each field to develop wider viewpoints. For instance, ‘Economists generally fail to recognize that the economy is generally one aspect of the whole ecological and social fabric; a living system composed of human beings in continual interaction with one another and with their natural resources, most of which are, in turn, living organisms’ (Capra 1982, 188). Isn’t that an amazing statement? I have always viewed economics in that way, but I could never come up with such a bold way to state the obvious!...
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...the term "applied mathematics" is used in a broader sense. It includes the classical areas noted above as well as other areas that have become increasingly important in applications. Even fields such as number theory that are part of pure mathematics are now important in applications (such as cryptography), though they are not generally considered to be part of the field of applied mathematics per se. Sometimes, the term "applicable mathematics" is used to distinguish between the traditional applied mathematics that developed alongside physics and the many areas of mathematics that are applicable to real-world problems today. There is no consensus as to what the various branches of applied mathematics are. Such categorizations are made difficult by the way mathematics and science change over time, and also by the way universities organize departments, courses, and degrees. Many mathematicians distinguish between "applied mathematics," which is concerned with mathematical methods, and the "applications of mathematics" within science and engineering. A biologist using a population model and applying known mathematics would not be doingapplied mathematics, but rather using it; however, mathematical biologists have posed problems that have stimulated the growth of pure mathematics. Mathematicians such as Poincaré and Arnold deny the existence of "applied mathematics" and claim that there are only "applications of mathematics." Similarly, non-mathematicians blend applied mathematics...
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...Page » * Historical Events Economic Development: a Comparison of Rostow and Gerschenkron In: Historical Events Economic Development: a Comparison of Rostow and Gerschenkron “Rostow’s pattern of thought of economic development is often compared and contrasted with that of Alexander Gerschenkron, though the two are more or less compatible and complementary.” Critically discuss this statement. The theory of economic development throughout history has been of significant discussion especially in regard to the works of Rostow and Gerschenkron. The differentiation between the pattern of thoughts and ideals is a hotly debated topic within economics. The ideals the two theorists create, each substantially creditable in their own right, entail degrees of correlation and variation. Leaving the conclusion, do the to patterns of economic thought complement one another or is there distinct disparity between the two. Applied examples will be used below to analyse the extent of segregation or association between the works of Rostow and Gerschenkron. The two theories of work are mainly discussed with Asian development as it is more relevant, timely and there is significantly more information available than previous developed countries such as Great Britain. Walt Whitman Rostow developed one of the major historical models of economic growth in 1960, The Stages of Economic Growth: A non-communist manifesto. This piece portrays the process of economic development in a previously unseen...
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... deciding what sort of economic arrangements would best promote human happiness requires the utilitarian to consider many things. It is unethical to export capital for production abroad because this capital can be used for production facilities domestically and by exporting this capital, the opportunity is available for local and domestic use is restricted. Each person is to have an equal right to the most extensive total system of equal basic liberties compatible with similar system of liberty for all. I believe the principle is saying that we should be free as possible to set the course of our own lives. Social and economic inequalities are to satisfy two conditions. First, they are to be attached to positions and offices to open to all under conditions of fair equality of opportunity; and second, they are to be to the greatest expected benefit of the least advantaged members of society. I believe the idea is that social and economic inequalities are not wrong, or bad, in themselves. They only become indefensible when they don't operate to improve the position of the worst off. The capital should be used for purposes, which benefit the domestic market and does not in any way hamper the domestic necessity. Once capital is exported then the entire purpose of being available domestically is lost. Rawls theory states that what causes the least harm to the greatest population and the least harm to the least population should be implemented. This Theory states that exporting the...
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...and Bertil Ohlin (1933) laid the substantial developments on David Ricardo’s theory of comparative advantage by focusing on the relationships between national factor endowments and commodity trade patterns. Though there have been some attempts to use the Heckscher-Ohlin theory, it seems invalidity in most real-world international trade patterns. In order to evaluate the validity of the Heckscher-Ohlin theory in today’s environment, pros and cons of the statement are illustrated as following. In pro terms, this theory is a simple international trade model with only two nations, two products and two factors of production based on the similar technology. Because of its simplified assumption, the Heckscher-Ohlin theory can be easily applied to analyse theoretical patterns. However, some assumptions proposed in this theory such as the similar technology, constant return to scale, the same demand condition limit its range only to some particular regions, therefore, it seems very hard to apply this theory in many practical terms. In summary, today’s international trading environment is various and complicated, thus this over-simplified theory cannot be sufficient as a good predictor. The purpose of this paper is to examine the Heckscher-Ohlin theory to analyse whether it is a good predictor for international trade in today’s environment. In order to do this, I will describe the content of this theory and then ilustrate the arguments both for and against the main topic by using...
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...Game Theory and the Prisoner’s Dilemma Business Strategy Antoinette Monteiro Grand Canyon University DBA 815 January 13, 2016 The Definition of Game Theory The game is the object of game theory, which is an interactive situation. There are several players involved in the situation; a game with only one person is a decision problem. According to game theory, the players, their preferences, their information, the strategic actions available to them, affects the outcome. Game theory is conflict and cooperation; the agents are interdependent on the actions of others. These agents are individuals, groups, firms or a combination of these combined. Game theory provides a language to formulate, structure, analyze and understand different circumstances (Turocy and Stengel, 2001 p.4). History and Effects of Game Theory An example of game analysis is the idea of two players dominating the marketplace which was introduced by Antoine Cournot in 1838. Emile Borel, a mathematician proposed a game theory in 1921 and this research was expanded by Neumann in 1928 called the “theory of parlor games.” This theory was solidified in the publication, “The Theory of Games and Economic Behavior by Neumann and Morgenstern. This book pioneers the basic terms and problems that are still in use to this day (Turocy and Stengel, 2001, p.4). The mathematician, John Nash showed that finite games have an equilibrium point in which players choose actions which give the best outcome for themselves...
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...Microeconomics has a role in society as well as in the economy of a region. This field of study allows economists to determine not only the patterns of consumers, businesses, and other organizations that are spending money but also the factors that are affecting spending habits and production decisions. Microeconomics involves studying the concepts and ideas that establish supply and demand in a particular market and the way that consumers and businesses alike prioritize their spending. Essentially, the role of microeconomics is to determine how, when combined, small economic components are affecting the broader economy. Instead of looking at market indicators that represent a wide field of data, however, this type of study considers how individuals, households, or specific markets are responding to markets. Although this economic approach does not necessarily reveal or determine economic conditions, the process offers insight into the way that consumers and businesses alike decide the value of a particular product or service. This is expressed in the amount of resources that either the consumer or business dedicates to an item. Rather than tallying the way that consumers as a whole are responding to a particular product, for instance, microeconomics begins with the study of the extent of demand stemming from one single consumer. Once this demand has been determined, this study continues and expands to include a greater number of individuals in the assessment. Economists also...
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...H4 Social Science Course Outline Introduction to Economics Second Quarter, School Year 2015-2016 Ms. Czarina Jayce S. Rivera and Mr. Gerome M. Vedeja Newsday: Labor Issues You are an investigative journalist for TIME magazine who is currently writing about the relationship of economic growth and the unemployment rate in the Philippines. You will create a feature article about the Philippine labor market showing qualitative and quantitative data and analysis. According to the National Statistical Coordination Board (NSCB), the Philippines’ Gross Domestic Product (GDP) growth for 2014 was at 6.1%, making our country one of the fastest growing economies in Asia. However, according to the National Statistics Office (NSO), unemployment rate remains at 7%. As an investigative journalist, you are trying to help the public reconcile that there is economic growth despite our deteriorating labor market. Using the data collected, you will select and analyse three statistics to show the current state of our labor market. Aside from this, you will supplement your quantitative analysis with qualitative information or data from minimum wage workers at SM. Your comprehensive investigation should justify your conclusion about the country’s economic condition. Depending on your conclusion, you will provide possible ways to sustain the current economic condition or solve the problem that our economy is facing. In doing so, you might want to focus on the labor market. You will...
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...of Redlands July 25, 2013 Introduction The purpose of this paper is to analyze and discuss how Adam Smith’s economic theories have shaped our economy for the better. This paper will define Adam Smith’s major economic theories and relate them to today’s economy. This paper will conclude with recommendations on how some of these theories can be improved. Discussion When people think of Adam Smith they think of Adam Smith “the economist.” In fact, many don’t realize that Adam Smith was a philosopher at heart. From that critical thinking space as a philosopher, Adam Smith developed his economic theories. Adam Smith obtained a professorship at Glasgow teaching moral philosophy. “Here, Smith developed his passion for liberty, reason, and free speech. In 1740 Smith was awarded the Snell exhibition and left to attend Balliol College, Oxford.” (Buchanan, 2006) These are important facts about Adam Smith because it gives us an insight to his philosophy and eventually into his economic theories. Furthermore, before Adam Smith wrote his well-known work, The Wealth of Nations, he wrote The Theory of Moral Sentiments. It is important to note that in writing The Theory of Moral Sentiment, Adam Smith’s goal “was to explain the source of mankind's ability to form moral judgments, in spite of man's natural inclinations towards self-interest. Smith proposes a theory of sympathy, in which the act of observing others makes people aware of themselves and the morality of their own behavior...
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...ics Economics as a Science and its relevance to Law Economics is the branch of knowledge concerned with the production, consumption, and transfer of wealth. It is the condition of a region or group as regards material prosperity. It is the social science that analyzes the production, distribution, and consumption of goods and services. Now the Question is whether Economics is a science or not? Economics is a science that treats of those social phenomena that are due to wealth getting and wealth using activities of Man. The word ―Economics‖ is derived from the Greeks word ―Oikonomos‖ which means to manage the house. So it means the management of a household especially in those matters, which are relating to the income and expenses of the family. After sometime, political economy term was also used for this topic and slowly political economy adopted the shape of Economics. There are numerous definitions of Economics offered from time to time but there is no clear and concise definition. Keeping in view this situation J.M. Keynes has rightly, stated ―Political Economy is said to have strangled itself with definition.‖ However, Economics is considered to be a science as well as an art. Some of its features like, self corrective nature, systematic body of knowledge, own laws and theories, universal validity of its laws (law of demand, marginal utility, law of diminishing returns etc) support economics to be a science, but its other features like lack of predictability and lack of...
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...Vietnam National University – HCMC International University SCHOOL OF BUSINESS ADMINISTRATION COURSE SYLLABUS[?] BA121IU International Economics Note: The outline with specific venue and time, and updated learning materials for the current semester will be provided to the enrolled students by the lecturer 1. COURSE STAFF Lecturer: Ho Nhut Quang. Ph.D Room: A.401 Telephone: 0903339767 E-mail: hnquang@hcmiu.edu.vn Consultation Hours: 13h.00- Mondays - Thursdays Teaching Assistant: TBA Room: TBA Telephone: TBA E-mail: TBA Consultation Hours: TBA Should the students wish to meet the staff outside the consultation hours, they are advised to make appointment in advance. 2. COURSE INFORMATION 2.1 Teaching times and Locations Lecture: TBA Venue: TBA 2.2 Units of Credit This course is worth 3 credits. 2.3 Parallel teaching in the course There is no parallel teaching involved in this course. 2.4 Relationship of this course to others The International Trade course focuses on two main parts. The first part deals with international trade theories and policies among countries. And the second part mentions the problems international monetary. Both parts utilize many concepts and knowledge from the courses of Microeconomics and Macroeconomics. Theoretical analysis will be based on the demand and supply model, the concepts of consumer...
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...ISSN Journal title 1619‐4500 1863‐8171 1528‐7106 0001‐3072 1018‐161X 1096‐3685 1087‐9595 1524‐7252 0001‐4273 1537‐260X 0363‐7425 1526‐1794 1095‐6298 1813‐0534 0001‐4575 1754‐7718 1445‐954X 0001‐4788 0810‐5391 1944‐529X 1530‐9320 0951‐3574 1328‐8261 0963‐9284 1041‐0392 0155‐9982 0148‐4184 1032‐3732 0888‐7993 1744‐9480 1911‐382X 1030‐9616 0958‐5206 0361‐3682 1530‐0226 1073‐0516 1046‐8188 1049‐3301 1049‐331X 0168‐9673 0001‐6373 0001‐6918 0353‐4316 1212‐3285 4OR: Quarterly Journal of Operations Research A St A ‐ Advances in Statistical Analysis AACE International Transactions Abacus: a journal of accounting, finance and business studies Academia Economic Papers Academy of Accounting and Financial Studies Journal Academy of Entrepreneurship Journal Academy of Information and Management Sciences Journal Academy of Management Journal Academy of Management Learning and Education Academy of Management Review Academy of Marketing Science Review Academy of Marketing Studies Journal Academy of Taiwan Business Management Review Accident Analysis and Prevention Accountancy Business and the Public Interest Accounting Accountability and Performance Accounting and Business Research Accounting and Finance Accounting and Taxation Accounting and the Public Interest Accounting Auditing and Accountability Journal Accounting Commerce and Finance: The Islamic Perspective Journal Accounting Education: An International Journal Accounting Educators' Journal Accounting Forum Accounting Historians Journal...
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...PORTFOLIO 1. What is research and what is a research carried out for? Find a research report in an applied linguistics journal (such as TESOL Quarterly, Language Learning) and point out the objectives and how these objectives are achieved. a. What is research? Research has been defined in a number of different ways. A broad definition of research is given by Martyn Shuttleworth - "In the broadest sense of the word, the definition of research includes any gathering of data, information and facts for the advancement of knowledge." Another definition of research is given by Creswell who states that - "Research is a process of steps used to collect and analyze information to increase our understanding of a topic or issue". It consists of three steps: Pose a question, collect data to answer the question, and present an answer to the question. The Merriam-Webster Online Dictionary defines research in more detail as "a studious inquiry or examination; especially : investigation or experimentation aimed at the discovery and interpretation of facts, revision of accepted theories or laws in the light of new facts, or practical application of such new or revised theories or laws" Scientific research is a systematic way of gathering data, a harnessing of curiosity. This research provides scientific information and theories for the explanation of the natureand the properties of the world. It makes practical applications possible. Scientific research is funded...
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... Students gain practical exposure through case studies and empirical training using market data. There is a large amount of practitioner content, without compromise to academic standards, and we constantly update the teaching to reflect recent market activity. This means you will acquire modern investment techniques based on sound theoretical knowledge. The School welcomes several visiting professors, who are also practitioners, and therefore well-placed to lecture on how to trade using live data. Thanks to our close proximity to the City of London, we have well- developed links with many financial institutions, and students pay them regular visits, helping to further bond the link between theory and practice. We maintain an active alumni group and we organise regular meetings with former students, often at their work place. We have an active economics student society and many guest speakers enjoy coming to Queen Mary to talk on current market events. As the program director, I have overall responsibility for the academic content, and the co-ordination of teaching, so you can be sure of receiving the necessary tuition. I am supported by an enthusiastic administrative team of postgraduate manager...
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...of latter economic theories is the development of economics itself. Classicism brought about a new and more dynamic way of analyzing relationships with an emphasis on interest rates, capital, trade, and government. The classical school dominated the field of economics from the late 1700’s to the mid to late 1800’s and the expansion of economics from existing as a mere subject to evolving into a science that can be evaluated by mathematical equations sparked a growing interest in developing a road map and determining the boundaries of an economy. The publishing of Smith’s work along with Malthus, Mill, Ricardo, and many others created a foundation for other thoughts and theories to develop or be derived from. The classical school somewhat opened the flood gates and brought a greater interest to the science of limited resources and the philosophy of economic constructs. With the cornerstone already in place, economic theory expanded into broader horizons including the framework for theories such as Socialism, Marxism, Neoclassicism, and even Keynesian. Although the classical school of thought is fundamental within the study of economics, the discoveries and development of in depth theories led to other assumptions and viewpoints concerning society and the economy. These new spinoffs gained momentum within the community leaving the classical school as a stepping stone or stair case for the ascension of rational thought. If Darwinism can be applied to schools...
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