...(a binary variable – commonly known as a dummy variable or indicator variable). Example A problem in transportation economics is to explain the choice between driving a car and taking the bus when commuting to work. For a random sample of N = 21 workers who commute to work the mode of transport is coded as the dummy variable: 1 yi = 0 individual i drives a car to work individual i takes the bus to work The choice of transportation may be influenced by a variety of factors. A key variable is: xi the extra time in minutes needed for a bus journey compared to travel by car (this may be negative to indicate that a bus journey is faster than using a car), for i = 1, . . . , N. 1 Econ 326 - Chapter 16 The linear probability model explains the choice variable by the linear regression equation: y i = β1 + β 2 x i + e i for i = 1, 2, . . . , N Estimation by the least squares principle (OLS) gives parameter estimates of β1 and β 2 as b1 and b2 . For some value of interest x 0 a prediction is calculated as: y 0 = b1 + b 2 x 0 ˆ ˆ The predicted value y 0 has the interpretation as the probability that the event will occur ( y = 1 ) given the value x 0 . For the transportation to work example, y 0 is the probability that an ˆ individual will drive a car to work given a difference in travel time for a bus journey compared to a car trip. 2 Econ 326 - Chapter 16 For the data set with transportation travel times least squares (OLS) estimation of the linear probability...
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...Rev. Integr. Bus. Econ. Res. Vol 3(1) 382 Impact of Workplace Diversity Elizabeth Foma University of Guam School of Business and Public Administration P. O. Box 5169 UOG Station Mangilao, Guam 96923 efoma@uguam.uog.edu; drmayuk@yahoo.com Abstract Diversity is an important part that all employees have to deal with at one point during their careers. There are many positive aspects to diversity in the workplace, such as exchange of ideas because of the diverse cultures of employees, the development of friendship without discrimination, workers learn to cope up with the diverse environment, stereotyping is eliminated, retention of employees are more likely due to healthy competition. On the other side, there is are negative parts which includes communication gaps due to language barrier and resistance to change. Diversity is any dimension that can be used to differentiate groups and people from one another, in which these dimensions can be visible or invisible. The existence of workplace diversity, within an organization, indicates that the workplace is heterogeneous in terms of gender, race, and ethnicity, in which employees possess distinct elements and qualities, differing from one another (Robbins, 2003). Key words: Race, gender, inequality, ethnicity, organizations, discrimination, lifestyle. 1. Introduction Diversity is any dimension that can be used to differentiate groups and people from one another, in which the dimensions can be visible...
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...11 Issues Chapter of Reporting, Disclosure and Financial Analysis Questions for Review and Discussion 1. The two main adjustment are likely to be the addition of capital assets and longterm obligations. 2. The main adjustments are likely to be: the addition of depreciation expense and gains or losses from the sale of capital assets and the deletion of amounts spent to acquire capital assets and the proceeds from the sale of capital assets the deletion of long-term debt proceeds and amounts spent to repay long-term debts and the addition of any gain or loss on the retirement of debt and the amortization of any debt premium or discount. 3. The key criterion is financial accountability the primary government either appoints a voting majority of the units governing body or a majority of the units governing body is composed of primary government officials and the primary government is able to impose its will upon the potential component unit or there is the potential for the organization to provide specific financial benefits to, or impose specific financial burdens on, the primary government. 4. Discrete presentation is when one or more component units are reported in separate columns, in addition to those pertaining to the primary government. Blending is when the component units transactions and balances are reported as if they were part of the primary government that is, the component units funds are accounted for just as they were funds of the primary government. Blending is...
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...Public Disclosure Authorized WPS5314 Policy Research Working Paper 5314 Public Disclosure Authorized Regional Trade Agreements Caroline Freund Emanuel Ornelas Public Disclosure Authorized Public Disclosure Authorized The World Bank Development Research Group Trade and Integration Team May 2010 Policy Research Working Paper 5314 Abstract This paper reviews the theoretical and empirical literature on regionalism. The formation of regional trade agreements has been, by far, the most popular form of reciprocal trade liberalization in the past 15 years. The discriminatory character of these agreements has raised three main concerns: that trade diversion would be rampant, because special interest groups would induce governments to form the most distortionary agreements; that broader external trade liberalization would stall or reverse; and that multilateralism could be undermined. Theoretically, all of these concerns are legitimate, although there are also several theoretical arguments that oppose them. Empirically, neither widespread trade diversion nor stalled external liberalization has materialized, while the undermining of multilateralism has not been properly tested. There are also several aspects of regionalism that have received too little attention from researchers, but which are central to understanding its causes and consequences. This paper—a product of the Trade and Integration Team, Development Research Group—is part of a larger effort in...
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...Does your career plan include a world of lifelong success? Program of Professional Studies THE CERTIFIED GENERAL ACCOUNTANTS ASSOCIATION OF BRITISH COLUMBIA We see more than numbers. Choose a career that places you on the path to lifelong success. It’s all about opportunity. Accounting professionals can work in any sector, anywhere in the world. And when you choose CGA, you’ll gain the leadership, problem-solving and technical skills that are sought after by organizations in the private, public and not-for-profit sectors. The CGA Program of Professional Studies gives you the tools to succeed in business, no matter where your career takes you. You’ll enter the workforce with the applied knowledge and demonstrated expertise that employers want, including specialized technical knowledge, sectorspecific competencies, problem-solving skills and the ethical integrity to lead. CGA’s competency-based curriculum is simply your best way to prepare for a rewarding career in financial management. Flexible study options and the freedom to choose the career you want CGA is all about choice. You choose the professional-studies path and real-world experience that best match your career goals and interests. We give you the skills and freedom to work in any type of organization, in any industry, at any level of management. With a CGA designation, your opportunities—both professional and personal, at home and around the world—are limitless. Take your place as a highly respected...
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...UNDERGRADUATE REGULATIONS & SYLLABUSES 2014 - 2015 THE FACULTY OF SOCIAL SCIENCES TABLE OF CONTENTS MESSAGE FROM THE DEAN ............................................................. 3 UNDERGRADUATE PROGRAMMES ................................................ 4 ACADEMIC CALENDAR 2014-2015 ................................................ 5 DEFINITIONS ...................................................................................... 13 GENERAL INFORMATION & REGULATIONS .............................. 14 General Regulations for Bachelor of Science Degrees 14 Special Regulations for Degrees in Hospitality and Tourism Management........................................................... 27 Franchise Agreements .......................................................... 27 EVENING UNIVERSITY -GENERAL INFORMATION & REGULATIONS ................................................................................... 28 General Regulations for Bachelor of Science Degrees 28 General Regulations for Diploma Programmes ............ 36 General Regulations for Certificate Programmes ......... 37 STUDENT PRIZES .............................................................................. 38 CODE OF CONDUCT ........................................................................ 39 UNIVERSITY REGULATIONS ON PLAGIARISM .......................... 40 THE ACADEMIC SUPPORT/ DISABILITIES LIAISON UNIT (ASDLU) ..............................................................................................
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...JOURNAL OF APPLIED ECONOMETRICS J. Appl. Econ. 23: 925– 948 (2008) Published online 7 November 2008 in Wiley InterScience (www.interscience.wiley.com) DOI: 10.1002/jae.1036 ECONOMETRICS OF AUCTIONS BY LEAST SQUARES LEONARDO REZENDE* PUC-Rio, Rio de Janeiro, Brazil; and University of Illinois at Urbana–Champaign, Illinois, USA SUMMARY I investigate using the method of ordinary least squares (OLS) on auction data. I find that for parameterizations of the valuation distribution that are common in empirical practice, an adaptation of OLS provides unbiased estimators of structural parameters. Under symmetric independent private values, adapted OLS is a specialization of the method of moments strategy of Laffont, Ossard and Vuong (1995). In contrast to their estimator, here simulation is not required, leading to a computationally simpler procedure. The paper also discusses using estimation results for inference on the shape of the valuation distribution, and applicability outside the symmetric independent private values framework. Copyright 2008 John Wiley & Sons, Ltd. Received 15 September 2006; Revised 1 July 2008 1. INTRODUCTION The field of econometrics of auctions has been successful in providing methods for the investigation of auction data that are well grounded in economic theory and allow for inference on the structure of an auction environment. Today, a researcher has a number of alternative structural methods, especially within the independent private-values paradigm...
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...ECON 191, Fall 2012 Guidelines for Writing an Economics Research Paper Writing a good economics paper is both an exciting and a nontrivial task. It requires a sustained effort in identifying an important question and in developing a credible model to think about that question or a testable hypothesis to answer it. In many cases it may require collecting data that gives the opportunity to test the hypothesis that you develop. You are encouraged to structure your paper in four parts: introduction, literature review, body, and conclusion. A brief abstract of no more than 100 words should precede your paper. Introduction Identifying a significant and well formulated question is the single most important part of the research process and the most difficult as well. A good research question has to be concise (remember, you are writing a 15-page paper, not a book), feasible and important. Choosing a research question requires balancing importance and feasibility. Feasibility means tractability for theoretical research and data availability for empirical research. Whenever you come up with an idea for a research question, always try to think about a critic sitting in front of you asking “Why should I care about this?” Consider this question to be a first filter for your research question. Identify a well-defined research question. The introduction is where you (1) present the research question, (2) motivate why it is important and briefly outline (3) how you go about answering it...
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...An Essay on Fiscal Federalism Wallace E. Oates Journal of Economic Literature, Vol. 37, No. 3. (Sep., 1999), pp. 1120-1149. Stable URL: http://links.jstor.org/sici?sici=0022-0515%28199909%2937%3A3%3C1120%3AAEOFF%3E2.0.CO%3B2-A Journal of Economic Literature is currently published by American Economic Association. Your use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available at http://www.jstor.org/about/terms.html. JSTOR's Terms and Conditions of Use provides, in part, that unless you have obtained prior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use content in the JSTOR archive only for your personal, non-commercial use. Please contact the publisher regarding any further use of this work. Publisher contact information may be obtained at http://www.jstor.org/journals/aea.html. Each copy of any part of a JSTOR transmission must contain the same copyright notice that appears on the screen or printed page of such transmission. JSTOR is an independent not-for-profit organization dedicated to and preserving a digital archive of scholarly journals. For more information regarding JSTOR, please contact support@jstor.org. http://www.jstor.org Tue Apr 24 17:00:09 2007 Journal of Economic Literature Vol. XXXVZZ (September 1999) pp. 1120-1 149 An Essay on Fiscal Federalism 1. Introduction ISCAL DECENTRALIZATION is in vogue. Both in the industrialized and in the...
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...Chapter 1 Business Information Systems in Your Career Multiple Choice Questions 1. One of the recent critical challenges facing Major League Baseball was: a. b. c. d. poor coordination between local and national sales channels. poorly managed sales channels. outdated information systems. decreasing ticket sales. Difficulty: Medium Reference: p. 3 Answer: d 2. The six important business objectives of information technology are new products, services, and business models; customer and supplier intimacy; survival; competitive advantage, operational excellence, and: a. b. c. d. improved flexibility. improved decision making. improved business practices. improved efficiency. Difficulty: Easy Reference: p. 6 Answer: b 3. Dell Computer's use of information systems to improve efficiency and implement "mass customization" techniques to maintain consistent profitability and an industry lead illustrates which business objective? a. b. c. d. Improved flexibility Improved business practices Competitive advantage Survival Difficulty: Hard Reference: p. 8 Answer: c 4. The use of information systems because of necessity is: a. b. c. d. survival improved business practices competitive advantage improved flexibility Difficulty: Medium Reference: p. 9 Answer: a 5. (Analysis) Which of the following choices may lead to competitive advantage (1) new products, services, and business models; (2) charging less for superior products; (3) responding to customers in real-time? a. b. c. d. 1 only 1 and 2...
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...A Policy Options Brief by the Public Health Law Center January 2009 e Supplemental Nutrition Program for Women, Infants, and Children (WIC): Opportunities to Influence Participant’s Health in Minnesota Suggested citation: Maggie Mahoney, Tobacco Law Center, The Special Supplemental Nutrition Program for Women, Infants, and Children (WIC); Opportunitites to Influence Participants’ Health in Minnesota (2008). December 2008 This publication was prepared by the Public Health Law Center, a program of the Tobacco Law Center at William Mitchell College of Law, St. Paul, Minnesota, with financial support provided in part by Blue Cross and Blue Shield of Minnesota. This policy brief is provided for educational purposes only and is not to be construed as legal advice or as a substitute for obtaining legal advice from an attorney. Laws and rules cited are current as of the policy brief’s publication date. The Tobacco Law Center provides legal information and education about public health, but does not provide legal representation. Readers with questions about the application of the law to specific facts are encouraged to consult legal counsel familiar with the laws of their jurisdictions. Copyright © 2008 by the Tobacco Law Center Table of Contents Executive Summary .............................................................................................................................. 1 Introduction ..................................................................
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...The long shadow cast by childhood physical and mental problems on adult life Alissa Goodmana, Robert Joycea, and James P. Smithb,1 + Author Affiliations aInstitute for Fiscal Studies, London WC1E 7AE, United Kingdom; and bRAND Corporation, Santa Monica, CA 90407-2138 Edited by Kenneth Wachter, University of California, Berkeley, CA, and approved February 8, 2011 (received for review November 11, 2010) Next Section Abstract In this article we assess and compare long-term adult socioeconomic status impacts from having experienced psychological and physical health problems in childhood. To do so, we use unique prospective data from the British National Child Development Study, a continuing panel study of a cohort of 17,634 children born in Great Britain during a single week in March 1958. To date there have been nine waves for this birth cohort to monitor their physical, educational, and social development, during childhood (at birth and 7, 11, and 16 y) and adulthood (age 23, 33, 42, 46, and 50 y). Excellent contemporaneous information exists throughout childhood on physical and psychological health, captured by doctor and nurse-led medical examinations and detailed parental and teacher questionnaires. This information is combined with a wealth of contemporaneous information on adult health and economic experiences collected from cohort members. Information includes their economic circumstances (earnings, labor supply, and other sources...
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...Course Hero has millions of student submitted documents similar to the one below including study guides, practice problems, reference materials, practice exams, textbook help and tutor support. 4 Chapter PLANNING BUSINESS MESSAGES Multiple Choice 1. The three primary steps involved in preparing a business message are a. planning, writing, and completing. b. informing, persuading, and collaborating. c. defining the purpose, the main idea, and the topic. d. satisfying the audience's informational, motivational, and practical needs. ANSWER: a; DIFFICULTY: easy; PAGE: 90; TYPE: concept 2. In developing business messages, the stage during which you step back to see whether you have expressed your ideas clearly is the a. planning stage. b. writing stage. c. completing stage. d. feedback stage. ANSWER: c; DIFFICULTY: moderate; PAGE: 91; TYPE: concept 3. In preparing business messages, you should devote about ______ percent of your time to planning. a. 10 b. 20 c. 50 d. 70 ANSWER: c; DIFFICULTY: moderate; PAGE: 91; TYPE: concept 4. Which of the following is not a general purpose common to business communication? a. To inform b. To persuade c. To negotiate d. To collaborate ANSWER: c; DIFFICULTY: moderate; PAGE: 92; TYPE: concept 5. An example of a specific purpose for a business message would be a. to impart information to the audience. b. to inform employees about the new vacation policy. c. to persuade readers to take an action. d. to obtain audience participation and collaboration...
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...Additional Practice Problems for Exam 1 ECON 634 August 2010 Bangalore The problems below are similar to problems that students have had the greatest difficulty correctly solving on recent exams. Correct answers are provided at the end of the problem set. Exam 1 will cover many more items than just the concepts presented here. This exercise is just meant to give you additional practice on the types of problems that have given students the most difficulty. Q1 When the transactions costs associated with completing an activity by entering into a contract with another firm rise, the likelihood that this activity is done “external” to the firm by contracting with another firm _____ and the odds that it is done “internally” within the firm ____. A rises; falls B falls; rises Answer the next 4 Questions by 1st creating the following graph: Draw a standard supply and demand diagram, refer to it as Figure 1 label the intersection point of the supply and demand curves as Point A move from Point A up and to the left along the demand curve and label a point on the demand curve Point B move from Point A down and to the right along the demand curve and label a point on the demand curve Point C move from Point A up and to the right along the supply curve and label a point on the supply curve point D move from Point A down and to the left along the supply curve and label a point on the supply curve point E Q2 If Figure 1 represents the market for solar power cells and...
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...performance? “The best way to predict the future is to create it” (Peter Drucker). My eagerness to learn economics came from the witness of the economic boom and then to suddenly find it in ruins. I am very grateful for the opportunity metropolitan university have given to enhance my skills as an individual to help me generate success in the future. During this module I have acknowledged that time management is essential in order to split time between education, work and socialising by order of importance. Time management has been a problem in my previous school years however the intensity of the lectures have forced me to improve my management skills. This helped me first and most importantly set a limit on socialising and work therefore giving me more time to concentrate on my studies. This module has forced me to prepare ahead. As I now wish to distinguish my tasks by order of importance to help to me go further. This will help me because I can set a level of importance to an exam, assignment or assessment that is due sooner than another however, not setting it aside all together which may affect the outcome of other assignments. It would also help me in overall life aspects for example helping me understand what I must concentrate most on now rather than later, for example education would be crucial work at this stage of my life. I have also appreciated that attendance and punctuality is vital to achieving the highest possible grade. I have learnt to attend majority of my...
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