...Mathematical economics and finance: good or bad? Pareto and Walras were the first to use mathematics in economics and finance at the end of the nineteenth century. They created classical models of the free markets and explained these mathematically. After these models were created, other famous economists came up with mathematical economical ideas, such as Schumpeter and Keynes. Mathematics was used to simplify and clarify various complicated theories. This use resulted in both advantages and disadvantages. This essay will evaluate the uncritical use of mathematics in economics and finance on multiple aspects. Firstly, if one uses mathematics in economics and finance uncritically, one needs to know all the numerical values and other variables to actually explain and predict certain events and its mutual interdependencies. This knowledge is never entirely available, because the values depend on too many particular circumstances. What’s more, the succession of events in the history of the economics does not show any internal coherence, which makes predicting harder. Moreover, there is no controlled experiment in the economic research field and no falsifiable hypotheses are made (Von Hayek, 1989). Furthermore, different economic models have different implications, thus are applicable to according situations. Hence, not one mathematical model could be implemented (Rodrik, 2015). In addition, human beings and their behaviour should be included in the theories of economics. This may...
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...Long-term Finance and Economic Growth Working Group on Long-term Finance The views expressed in this report are those of the Working Group on Long-term Finance and do not necessarily represent the views of the individual members of the Group of Thirty. ISBN 1-56708-160-6 Copies of this paper are available for $49 from: The Group of Thirty 1726 M Street, N.W., Suite 200 Washington, D.C. 20036 Tel.: (202) 331-2472 E-mail: info@group30.org; www.group30.org Long-term Finance and Economic Growth Published by Group of Thirty© Washington, D.C. 2013 Table of Contents Abbreviations ............................................................................................................................................................................... 5 Glossary .............................................................................................................................................................................................6 Foreword ..........................................................................................................................................................................................8 Acknowledgments ..................................................................................................................................................................10 Working Group on Long-term Finance ................................................................................................................
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...trade shows stages like emerging exports with mass production followed by foreign competition and finally competition from imports. 1. Exports May be only manufacturer of new product Overseas customers learn of product, export market develops 2. Foreign production Export volume grows Production technology becomes stable Reduced costs for transportation Exports diminish 3. Foreign competition Foreign manufacturers gain experience Compete in export markets 4. Import competition Foreign producers obtain economies of scale Compete in quality and undersell domestic company in domestic market. Due to this dynamic business setting, the trade policy has to emerge and adapt it self to international demands and cause economic development. Comparative advantage theory of David Ricardo was the basis of free trade policies. Opponents of these policies argue that comparative advantage has lost its importance in a globally shrinking world. It is commonly believed Tariff and Non-tariff barriers, Miscellaneous Protection Techniques – Dumping, Subsidies, Cartels, and Commodity Agreements that free trade developed o the model of comparative advantage compels trade on less...
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...the 2:1 level or higher 工科: IELTS of 6.5 (no component under 6.0) or equivalent [pic][pic][pic] TOEFL: Internet-based score of 92 (minimum 19 listening, 21 speaking, 19 writing and 20 reading) PTE (Pearson): 62 (minimum 55 in all components) Test dates should be within two years of the course start date. 2. ST ANDREWS 圣安Scotland MLitt International Business MLitt Marketing MSc Economics MLitt English Studies MSc Finance MLitt Finance and Management MLitt Human Resource Management MLitt International Business and Strategy MLitt Management MSc Management and Information Technology MSc Computing and Information Technology MSc Information Technology MLitt TESOL with Distance Learning 2:1 (UK), 2:2 or B+ (Europe), 3.6 GPA (USA), 85% (China), 70% (India) IELTS 7.0 with minimum 6.0 in writing or TOEFL 600PBT/100IBT £17,500 NO GMAT Requirement, 2+2 students’ IETLS may can be waived. 3. Bath 巴斯 England The School of Management: No 1 for Accounting and Finance in UK No. 1 for Student Satisfaction in Business Study in UK No 1 for Graduate Jobs in Business No 2 and No 11 in UK and World Ranking in MBA study Management: 44 (0) 1225 386742 MSc in Management MSc in Human Resource Management and Consulting MSc in Sustainability and Management MSc in International Management MSc in Advanced...
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...Minor Programmes available for non-FBE students Programme School of Business Business School of Economics and Finance Economics Finance Major X √ √ Minor √ √ √ II. GPA Requirement A yearly GPA of 3.0 of above as of August 31 (excluding Summer Semester) at the end of the first year of study must be obtained for eligibility to declare any major or minor offered by the Faculty of Business and Economics. For students who fail to meet the GPA requirement at the end of their second year of study, their declaration of FBE major/minor will be removed from the SIS by their home Faculty. III. Requirements for Major Programmes Students are required to complete 60 credits of prescribed courses for each major as follows: (A) Majors offered by the School of Economics and Finance 1. Major in Economics (60 credits) Course code Course Credits Year 1 courses: 12 credits ECON1001 Introduction to economics I 6 ECON1002 Introduction to economics II 6 Year 2 and Year 3 courses: 48 credits ECON2101 Microeconomic theory or 6 ECON2113 Microeconomic analysis 6 ECON2102 Macroeconomic theory or Macroeconomic analysis ECON2114 ECONxxxx/ Year two/Year three courses listed in Economics 36 FINAxxxx or Finance electives Total: 60 2. Major in Finance (60 credits) Course code Course Year 1 courses: 18 credits BUSI1002 Introduction to accounting ECON1001 Introduction to economics I FINA1003 Corporate finance Year 2 and Year 3 courses: 42 credits ECON2101 Microeconomic theory or ECON2113 Microeconomic...
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...role of development finance in economic development in Sub-Saharan Africa. Development Finance is practice of using scarce financial resources in an unconventional ways in order to advance economic activity(ies). According to (Nyembezi, 2009), development finance makes the economy run smoothly and effectively. The aim of the development finance is to look at the challenges and design the framework as well as stimulating core activities that will develop the economic growth. As stated by (Nyembezi, 2009) development finance, in an economy, can be compared to oil in a vehicle engine that ensures its sound and smooth operation. According to (Ocran, 2012), development finance is concerned with the financing of development at: • Household level • Firm level • Geographical area/national/regional level This paper looks at the role of development finance at national and regional level in economic development in Sub-Saharan Africa. The Organisation for Economic Co-operation and Development (2002) defines development finance officially as funding “used in measuring the inflow of resources to recipient countries: including (a) bilateral official development assistance (ODA), (b) grants and concessional and non-concessional development lending by multilateral financial institutions, and (c) Other Official Flows for development purposes (including refinancing Loans) which have too low a Grant Element to qualify as ODA”. The role of development finance and economic growth The current...
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...To Mr.Wang According to my research to current economic journals in market, I recommend ‘American Economic Review’ as the magazine our company should order for employers to read. We are a public company; our employers should not only focus on their own work, but also have some knowledge of economic or finance to assist CEO to make right decisions for company, and enhance their comprehensive working ability. I have chosen three journals to compare; they are ‘American Economic Review’, ‘Journal of Finance’ and ‘Wall Street Journal’. As for the cost, they are similar, and ‘American Economic Review’ is published quarterly , ‘Journal of Finance’ is double monthly, and ‘Wall Street Journal’ is daily. They are all the most popular journals in Economic industry today, while, they are total different style. ‘Journal of Finance’ is published by American Finance Association, it is the most important journals in Finance field, and the sentences in the magazine are cited the most frequently, that could reflect its crucial part in this industry, and it almost cover all of subjects and topics of finance area, including investing, currency, banking, insurance, securities, activities in finance units and ect. ‘Wall Street Journal’ is actually a newspaper; it is a leading newspaper which not only infects Wall Street of USA, economics of USA, but also the world’s economic. Every day, nearly 2,000,000 people read this newspaper, and its critics even could limit some bad trend. Company...
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...UCL 因为特别想去伦敦,不知道UCL有木有机会。(专业什么的不太了解) 爱丁堡大学 Finance and Investment http://www.ed.ac.uk/studying/postgraduate/degrees/index.php?r=site/view&id=273 Banking and Risk http://www.ed.ac.uk/studying/postgraduate/degrees/index.php?r=site/view&id=756 Financial Management http://www.ed.ac.uk/studying/postgraduate/degrees/index.php?r=site/view&id=754 曼彻斯特大学 Finance and Business Economics http://www.manchester.ac.uk/study/masters/courses/list/07242/finance-and-business-economics-msc/ International Business and Management http://www.manchester.ac.uk/study/masters/courses/list/02230/international-business-and-management-msc/ Finance http://www.manchester.ac.uk/study/masters/courses/list/01383/finance-msc/ 格拉斯哥大学(官网在调试) Investment Banking&Finance Financial Risk Management Asset Pricing&Investment International Finance Economics Banking & Finance 布里斯托大学 Finance and Investment http://www.bristol.ac.uk/study/postgraduate/2016/ssl/msc-finance-investment/ Economics, Finance and Management http://www.bristol.ac.uk/study/postgraduate/2016/ssl/msc-economics-finance-management/ 利兹大学 Financial Risk Management http://courses.leeds.ac.uk/23755/MSc_Financial_Risk_Management Finance and Investment http://courses.leeds.ac.uk/23753/MSc_Finance_and_Investment 伯明翰大学 Financial Management http://www.birmingham.ac.uk/postgraduate/courses/taught/business/financial-management.aspx Money, Banking and Finance http://www.birmingham.ac.uk/postgraduate/courses/taught/econ/money-banking-finance...
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...2006–2012 Tuck School of Business, Dartmouth College Assistant Professor 2000–2006 IV. BIBLIOGRAPHY Refereed Journal Publications “Noise and aggregation of information in large markets,” (joint with Branko Uroˇevi´) forthcoming in the Journal of Financial Markets. sc “Sentiment during recessions,” forthcoming in the Journal of Finance. “Geographic dispersion and stock returns” (joint with Øyvind Norli), forthcoming in the Journal of Financial Economics. “Journalists and the stock market” (joint with Casey Dougal, Joey Engelberg, and Chris Parsons), Review of Financial Studies, 2012, 25(4), 639–679. 1 of 6 “Information sales and strategic trading” (joint with Francesco Sangiorgi), Review of Financial Studies, 2011, 24(9), 3069–3104. “Relative wealth concerns and complementarities in information acquisition” (joint with G¨nter Strobl), Review of Financial Studies, 2011, 24(1), 169–207. u “Information acquisition and mutual funds” (joint with Joel Vanden), Journal of Economic Theory, 2009, 144(5), 1965–1995. “Sports sentiment and stock returns” (joint with Alex Edmans and Øyvind Norli), Journal of Finance, 2007, 62(4), 1967–1998. “Overconfidence and market efficiency...
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...Accredited Tertiary Courses Listing 2012 Accredited Tertiary Courses Listing 2012 – as at 26 September 2012 1 2012 Accredited Undergraduate Courses AUSTRALIAN CAPITAL TERRITORY The Australian National University University of Canberra NEW SOUTH WALES Australian Catholic University Australian Institute of Higher Education Avondale College Charles Sturt University Kings Own Institute Macquarie University Southern Cross University Top Education Institute The University of New England The University of New South Wales The University of Newcastle The University of Sydney University of Technology, Sydney University of Western Sydney University of Wollongong Williams Business College NORTHERN TERRITORY Charles Darwin University QUEENSLAND Australian Catholic University Bond University Central Queensland University Christian Heritage College Griffith University James Cook University Queensland University of Technology The University of Queensland The University of Southern Queensland University of the Sunshine Coast SOUTH AUSTRALIA Flinders University Kaplan Business School The University of Adelaide University of South Australia Open Universities (conferred by Uni of SA) TASMANIA University of Tasmania VICTORIA Australian Catholic University Cambridge International College Carrick Higher Education Deakin University Holmes Institute Holmesglen Institute of TAFE La Trobe University Melbourne Institute of Technology Monash University Northern Melbourne Institute of TAFE RMIT...
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...development and economic growth nexus 1 1.3 Review of the empirical literature 4 1.3.1 Time series 5 1.3.2 Cross-country studies 6 1.3.3 Panel data studies 7 3 Conclusions 8 4 References 9 1 Introduction “Finance is powerful. The financial system can be an engine of economic prosperity – or a destructive cause of economic decline and misery.” Levine, R. (2011) p.85 Obviously, financial system and economy are related. But what is the nature of this relationship? The objective of this paper is to critically evaluate the existing theoretical and empirical literature on the finance-growth nexus. What is the role of the financial sector in economic growth? Does finance cause growth or simply follows it? There is no wide agreement about this task among recognised economists. Even Nobel Prize winners disagree in regard to the role of finance in economic development. Levine (2003) states that the role of finance as a major determinant of economic growth is over-stressed. Moreover Levine (2003) argued that where enterprise leads finance follows. Quite the opposite, important acknowledgment should be taken into account and it follows as “[the idea] that financial markets contribute to economic growth is a proposition too obvious for serious discussion.” Levine (2003) p.1 Similar to that, he also declared that the finance growth nexus cannot be safely ignored without substantially impeding our understanding of economic growth. Our understanding...
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...Assignment 1 Critical Essay Introduction: This essay will attempt to critically explain how the poor economic climate in the UK might affect the marketing mix of a start-up retail venture in the high street. This essay will walk through the processes of starting a retail business venture in the high street and discuss how the economy and the marketing mix directly effects each step. To do this it will be vital to explore the current economic climate and what a poor economic climate means? A definition of a poor economic climate “a recession is a decline in growth, domestic product for two consecutive quarters and a depression as a prolonged recession resulting in falling prices, reduced purchasing power, excess in supply, unemployment, and a general reduction in business activity” (Downes,j.,& Goodman,J.E.(1995).Dictionary of finance and investment terms Hauppage,nj:Barron’s educational series) This has been the case for the UK since 2007 as we are in what is known as a double dip recession narrowly escaping a triple dip recession. (BBC News 2013, http://www.bbc.co.uk/news/business-22290407) This downturn indicates that the UK is indeed suffering from a poor economic climate having the effect of less spending and so less trade occurring in the local, regional, continental, or global marketplace. How this relates to a start up venture in the high street has both negative and positive effects. To look at each of these effects it is best to look at the entire...
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...See discussions, stats, and author profiles for this publication at: https://www.researchgate.net/publication/235266981 International business and finance scholarship ARTICLE in RESEARCH IN GLOBAL STRATEGIC MANAGEMENT · JUNE 2008 DOI: 10.1016/S1064-4857(08)00001-6 CITATION READS 1 11 1 AUTHOR: Raj Aggarwal University of Akron 203 PUBLICATIONS 1,943 CITATIONS SEE PROFILE Available from: Raj Aggarwal Retrieved on: 23 February 2016 INTERNATIONAL BUSINESS AND FINANCE SCHOLARSHIP Raj Aggarwal ABSTRACT This chapter explores how scholarly work in the fields of Finance and International Business (IB) can be mutually supportive. First, it is clear that technology has been a major driver of modern developments in both Finance and IB. Second, Finance can provide many insights into IB scholarship since it has much to say about firm operations and strategy. Third, IB scholarship with its focus on culture also provides significant opportunities for a better understanding of the global aspects of Finance. Finally, it is contended that transaction-costs economics provides an excellent theoretical and fundamental basis for bringing together IB concepts and Finance scholarship. However, while the potential for Finance and IB scholarship to contribute to each other is great, such advances must await the removal of cultural barriers between the two disciplines. INTRODUCTION The field of IB generally focuses on inter-national business, that is, business across national boundaries and...
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...|Equivalent courses offered at Aalto University, School Of Economics. | | | | | |Courses offered are subject to changes. | | |Updated information on the courses will be sent to successful candidates by Aalto | | |University, School Of Economics. | | | | | |*The same course can be transferred only as 1 course. | |First Level Modules | | |ACC1006 Accounting Information Systems |International Technology Venturing | |BSP1005 Managerial Economics |TU91.2010 Managerial Economics ...
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...Journal of Business & Economic Statistics 27, 417427. Baker, M. and J. Wurgler (2006). Investor sentiment and the cross-section of stock returns. Journal of Finance 61, 16451680. Baker, M. and J. Wurgler (2007). Investor sentiment in the stock market. Journal of Economic Perspectives 21, 129151. Baker, M., J. Wurgler, and Y. Yuan (2011). Global, local, and contagious investor sentiment. Journal of Financial Economics . Barberis, N., A. Shleifer, and R. Vishny (1998). A model of investor sentiment. Journal of Financial Economics 49, 307343. Ben-Rephaela, A., S. Kandela, and A. Wohla (2012). Measuring investor sentiment with mutual fund ows. Journal of Financial Economics 104, 363382. Bergsma, K. and D. Jiang (2013). Let's celebrate! cultural new year and stock returns around the world. Working paper, Florida State University. 30 Bodurtha, J. N., D. S. Kim, and C. Lee (1995). Closed-end country funds and u.s. market sentiment. Review of Financial Studies Vol. 8(3), pp. 879918. Bollen, J., H. Mao, and X. Zeng (2011). Twitter mood predicts the stock market. Journal of Computational Science 2 (1), pp. 18. Brown, W. G. and M. T. Cli (2005). Investor sentiment and asset valuation. Journal of Business 78(2), 405440. Campbell, J., S. J. Grossman, and J. Wang (1993). Trading volume and serial correlation in stock returns. Quarterly Journal of Economics 108(4), 905939. Choi, H. and H. R. Varian (2009). Predicting...
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