...There is not substitute for reading the assigned chapters!!! Chapter 1- The Power of Markets Market allocation 3 Assume rational utility-maximizers 6 Opportunity costs 9 Profit max 11 Prices allocate resources 12 Barriers to entry 14 Market price, pricing decision & price discrimination 15 Lessons of markets 18 Chapter 2 – Incentives Matter Wrong incentives lead to undesirable outcomes 23 Principal-agent problem 30 Prisoners dilemma 34 Creative destruction 36 Tax & govt program disincentives 38 Chapter 3 – Government and the Economy Externalities 43 Govt solutions to externalities 48 Govt makes market economy possible – rights, laws, regulations 51 Public goods 57 Redistribution 59 Chapter 4 – Government and the Economy II Govt inefficiency 63 Govt allocation vs private allocation 67 Effects of regulation 69 Effects of taxation 74 Summary 78 Chapter 5 – Economics of Information Adverse selection 81 Firm screening 89 Branding provides information 90 Branding versus commodities 92 Signaling mechanisms 93 Chapter 6 – Productivity and Human Capital Human capital 98 Job creation 103 Effects of human capital on standard of living 105 Productivity 107 Income inequality 111 Chapter 7 – Financial Markets Purposes of financial instruments 118 Efficient markets & index funds 126 Investment guidelines 132 Chapter 8 – The Power of Organized Interests Interest groups & politicians’...
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...Areas of Syllabus • • • • Essential elements of the legal system The law of obligations Employment law The formation and constitution of business organisations Capital and the financing of companies Management, administration and regulation of companies Legal implications of companies in difficulty or in crisis Governance and ethical issues relating to business • • • • Chapter 1 The English legal system The English legal system • Criminal law vs Civil law The main English civil courts • • • • House of Lords Court of Appeal County Court High Court of Justice Other courts • • • • Magistrates’ Court Employment Appeal Tribunal European Court of Justice European Court of Human Rights Chapter 2 Sources of English law Sources of English Law Case law Common law Legislation Direct legislation Indirect legislation Equity Sources of English Law • Literal rule • Golden rule • Mischief rule Chapter 3 Human rights Human Rights Act 1998 Purpose Derogation Human Rights Act 1998 Convention law Incompatible with convention Chapter 4 Formation of contracts Definition of contract A valid contract is a legally binding agreement, formed by the mutual consent of two parties. Essentials of a contract Three essential elements: • Agreement made by offer and acceptance • Consideration • Intention to create legal relations Definition of offer An offer is a definite and unequivocal statement of...
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...THE RENATIONALIZATION OF YPF UNDER INTERNATIONAL LAW; A CASE STUDY Nina van Limburg Stirum Brouwersgracht 48-1, 1013GX Amsterdam 0621500446 Ninavls@hotmail.com 10127305 Bachelor essay supervisor: Jim Mathis Contents THE RENATIONALIZATION OF YPF UNDER INTERNATIONAL LAW; A CASE STUDY Introduction 3 Chapter 1: Expropriation and Nationalization in general 3 Chapter 2: Nationalization under international law 5 1: Public Purpose 6 2: Discrimination 7 3: Due Process 8 4: Compensation 9 Investment Treaties 9 Chapter 3: YPF; Yacimientos Petrolíferos Fiscales 13 Short history 13 April 2012 14 Chapter 4: Nationalization of YPF under international law 15 Access to the ICSID 17 Application of the law 18 Ad. 1: Public interest 18 Ad. 2: Discriminatory measures 19 Ad. 3:In accordance with the law (Due process) 20 Ad. 4: Adequate compensation 20 Conclusion 23 Bibliography 24 Introduction On the 16th April 2012 Argentine president Cristina Fernandez de Kirchner stated that her government was going to renationalize 51 per cent of the 58 per cent share of Yacimientos Petrolíferos Fiscales (YPF) owned by Repsol. YPF is the biggest Argentine oil company, since 1999 partly owned by the Spanish multinational Repsol. After months of negotiations the Argentine government accused Repsol of not investing sufficiently in YPF to maintain or recover reserves. Due to Repsol’s alleged neglect towards YPF the country...
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...International Business Environment BE2501 – Summary Chapter 1 Globalization – refers to the shift toward a more integrated and interdependent world economy. Globalization of markets – refers to the merging of historically distinct and separate national markets into one huge global marketplace. Globalization of products – refers to the sourcing of goods and services from locations around the globe to take advantage of national differences in the cost and quality of factors of production (such as labor, energy, land and capital) General Agreement on Tariffs and Trade (GATT) World Trade Organization (WTO) – is primarily responsible for policing the world trading system and making sure nation-states adhere to the rules laid down in the trade treaties signed by WTO member states. International Monetary Fund (IMF) and the World Bank (WB) were both created in 1944 by 44 nations that met at Bretton Woods, New Hampshire. The IMF was established to maintain order in the international monetary system; The WB was set up to promote economic development. United Nations (UN) – was established on October 24, 1945, by 51 countries committed to persevering peace through international cooperation and collective security. International trade occurs when a firm exports goods or services to consumers in another country. Foreign Direct Investment (FDI) occurs when a firm invests resources in business activities outside its home country. Stock of foreign direct investment – refers...
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...9780199203055_001_030_CH01.qxd 11/1/07 15:14 Page 1 Introduction: ‘business’ and its ‘environment’ Paul Wetherly and Dorron Otter Contents The approach of this book—themes and issues 2 What is business? 4 Business and the problem of scarcity 5 The private sector—on closer inspection 7 28 Review and discussion questions 29 Assignments 30 Further reading 30 4 The private sector of business Case study: ‘UK plc’ Other sectors of business—the public sector and the third sector 10 Online resources 30 A simple model of business in its environment— transforming inputs into outputs 13 References 30 Conceptualizing the environment of business 15 Interaction between business and the environment—responding, influencing and choosing 17 The nature of the internal environment 20 Types of organization structure 21 Environmental analysis 24 Summary 27 01 9780199203055_001_030_CH01.qxd 2 X 11/1/07 15:14 Page 2 Introduction Learning objectives When you have completed this chapter you will able to: l Recognize different uses of the term business, and understand the different forms of business in terms of, for example, private, public and not-for-profit organizations l Describe the complexity of the external environment in which business operates and explain the idea of environmental uniqueness l Understand the nature of the...
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...Part 1 Study of the Law in General Chapter 1 LEARNING OBJECTIVES After reading this chapter, the learner should be able to: 1. Differentiate between public and private law. 2. Compare and contrast contract and tort law. 3. Compose a scenario that illustrates the difference between the substantive and procedural aspects of criminal law. 4. Identify and explain the differences between various sources of law. 5. Describe the branches of government and their roles in creating, administering, and enforcing law. 6. Explain the process of how a bill becomes a law. 7. List and describe quasi-legal requirements to which health-care organizations are subject. KEY CONCEPTS Common law Conflict of laws Constitution Contract law Deeming authority Electronic case filing systems Felonies 2 Law Misdemeanors Ordinances Private law Procedural law Public law Res judicata Separation of powers Stare decisis Statutes Substantive law Tort law Words of authority Workings of the American Legal System INTRODUCTION As health care becomes more complex, the interplay between the law and health care increases. Government regulation of the health-care field continues almost without pause while lawsuits against health-care providers appear to increase. The interplay of these forces significantly affects the health information manager’s ability to manage patient-specific health information. Thus, the health information manager must possess a fundamental...
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...CHAPTER 1 - What is Corrections? | Chapter Outline and Summary | | | Chapter OutlineI.IntroductionA.Growth of the system has changed how much people know about corrections1.In 1973 the prison incarceration rate was 96 per 100,000 Americans2.By 2008, after 35 years of steady growth, the U.S. imprisonment rate reached 506 per 100,0003.About 7.5 million Americans are now in the corrections system4.Correctional population growth continued throughout the 1990s, although crime rates fell by more than 50 percent between 1993 and 20075.The expansion of corrections has affected some groups more than others6.About one-third of all African American men in their twenties are under some form of correctional control7.Prison budgets, by far the most expensive portion of the overall penal system, grow even when monies for education and others services lag8.Today, Corrections pervasive—especially for poor, minority Americans II.The Purpose of CorrectionsA.Punishment1.From the earliest accounts of humankind, punishment has been used as one means of social control, of compelling people to behave according to the norms and rules of society2.Protecting society by defining limits of behaviorB.Three basic concepts of Western criminal law define the purpose and procedure of criminal justice1.Offense2.Guilt3.PunishmentC.The central purpose of corrections is to carry out the criminal sentence1.Corrections—the variety of programs, services, facilities, and organizations responsible for the management...
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...Summary Managing People in a Global Context Book: Managing across cultures by Schneider & Barsoux, second edition Chapter 1: The undertow of culture Converging cultures? Before the impact of culture can be assessed, two convergence myths have to be challenged: 1. The world is getting smaller… • On the surface, we appear to be converging: television, books, movies, internet, eating habits etc. • However, it seems that the pressure for convergence or integration may in fact create an equal, if not stronger pressure for divergence or fragmentation. o E.g. protests against learning English as second language in Switzerland, different neighborhoods in NYC (Chinatown, Little Italy etc.). o Executives across Europe are reading many of the same publications, but still more often they read national magazines and newspapers. Management is management • Management is management, consisting of a set of principles and techniques that can be universally applied. • However, different practices (such as management) are shaped by its cultural origins, and so is management. • Also, different notions of organizations (relationships vs. tasks) and different HRM practices based on motivations of employees (intrinsic vs. extrinsic). • Good management is culturally sensitive management: best fit between people’s motivation and tasks. • Sensitivity towards invasion of foreign companies and their business ideologies and practices. 2. Despite technological & economic forces for integration/convergence...
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...Role of Public-Private Collaboration and of Intermittent Therapy INAUGURALDISSERTATION zur Erlangung der Würde eines Doktors der Philosophie vorgelegt der Philosophisch-Naturwissenschaftlichen Fakultät der Universität Basel von Christian Auer aus Bottmingen (BL) Basel, Mai 2003 Genehmigt von der Philosophisch-Naturwissenschaftlichen Fakultät der Universität Basel auf Antrag von Herrn Prof. Dr. Marcel Tanner und Herrn Professor Dr. Klaus M. Leisinger Basel, den 6. Mai 2003 Prof. Dr. Marcel Tanner Dekan DEDICATION In memory of Aling Tess and Mang Tony, former neighbours of mine, victims of tuberculosis, the unrestrained killer that terminates daily the lives of 5000 people. With the sincere hope and plea that some findings and thoughts of this dissertation will contribute to reducing tuberculosis and poverty. “The appalling global burden of tuberculosis at the turn of the millennium, despite the availability of effective control measures, is a blot on the conscience of humankind. For developing countries, the situation has become desperate and the "cursed duet" of tuberculosis and AIDS is having a devastating impact on large sections of the global community. The vital question is, can despair be turned to hope early in the next millennium?” John Grange and Almuddin Zumla, 1999 TABLE OF CONTENTS Acknowledgements Summary Zusammenfassung Abbreviations i iii vii xi PART I: Introduction and overview Page Chapter 1: Background...
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...macro-political and economic changes taking place worldwide. • Describe how transition economies are moving towards market based systems. • Articulate the implications for management practice of national differences in political economy. This chapter discusses differences in national political, economic, and legal systems, highlighting the ways in which managers in global settings need to be sensitive to these differences. Political differences are described along two dimensions: collectivist vs. individualist and democratic vs. totalitarian. Economic systems are explored in terms of market characteristics: market economies, command economies, and mixed economies. Legal systems are discussed in terms of the protections they offer for business: intellectual property, product safety, liability and contracts. The opening case explores the political and economic situation in Venezuela since Hugo Chavez was elected president in 1998. The closing case describes the challenges facing Indonesia, a vast country populated mainly by Muslims that stretches over 17,000 islands. Indonesia, after decades of corruption and a near dictatorship, now has a newly elected president. OUTLINE OF CHAPTER 2: NATIONAL DIFFERENCES IN POLITICAL ECONOMY Opening Case: Chavez’s Venezuela Introduction Political Systems Collectivism and Individualism Democracy and Totalitarianism Economic Systems Market Economy Command Economy Mixed Economy ...
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...Instructor’s Manual: Chapter 12 Teaching Objectives Define B2B commerce and explain its scope and history. • Explain the procurement process, the supply chain, and collaborative commerce. • Identify the main types of B2B commerce: Net marketplaces and private industrial networks. • Explain the four types of Net marketplaces. • Identify the major trends in the development of Net marketplaces. • Identify the role of private industrial networks in transforming the supply chain. • Explain the role of private industrial networks in supporting collaborative commerce. Key Terms total inter-firm trade, p. 770 B2B commerce, p. 770 Internet-based B2B commerce (B2B e-commerce), p. 771 automated order entry systems, p. 771 seller-side solutions, p. 771 electronic data interchange (EDI), p. 772 buyer-side solutions, p. 772 hub-and-spoke system, p. 772 vertical market, p. 772 horizontal markets, p. 772 B2B electronic storefronts, p. 772 Net marketplace, p. 772 private industrial networks, p. 773 procurement process, p. 775 supply chain, p. 775 direct goods, p. 776 indirect goods, p. 776 MRO goods, p. 776 contract purchasing, p. 776 spot purchasing, p. 776 multi-tier supply chain, p. 777 legacy computer systems, p. 778 materials requirement planning (MRP) system, p. 778 enterprise resource planning (ERP) system, p. 778 supply chain management (SCM), p. 779 tight coupling, p. 779 supply chain management (SCM) systems...
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...impure thoughts or arouse prurient interest, or violates the proprieties of language and human behavior, regardless of the motive of the producer, printer, publisher, writer, importer, seller, distributor or exhibitor. Laws and Regulations on Obscenity Revised Penal Code Obscenity is defined as a crime against public morals. In particular, it is an offense against democracy and good customs. Book Two, Title Six, Chapter Two, Article 201 of the RPC deals with Obscenity. It has been amended in 1976 by two Marcos Presidential Decrees which have so far not been repealed. It provides: Art. 201. Immoral doctrines, obscene publication and exhibitions, and indecent shows. - The penalty of imprison mayor or a fine ranging 6,000 to 12,000 pesos, or both shall imprisonment and fine, shall be imposed upon. 1. Those who shall publicly expound or proclaim doctrines openly contrary to public morals. 2. (a) The author of obscene literature, published with their knowledge in any form; the editors publishing such literature , and the owners / operators of the establishment selling the same; (b) Those who, in the theaters, fairs, cinematographs, or any other public place, exhibit indecent or immoral plays, scenes, acts or shows whether live or film. 3. Those who shall sell, give away or exhibit films, prints, engravings, sculptures or literature which are offensive to morals. Implementing Rules and Regulations (IRR) of P.D. No. 1986 Promulgated by MTRCB (the Board under...
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...Master Learning Objective Review Guide: Summary 1. A570_Learning Objectives Class #1 a. Chapter 3 b. Chapter 6 2. A570_Learning Objectives_Class 2 3. A570_Learning Objectives_Class 3 4. A570_Learning Objectives_Class 4_Valuation II 5. A570_Learning Objectives_Class 7 c. Chapter 18: An Introduction to Deal Design in M&A d. Chapter 20: Choosing the Form of Financing and Payment e. Chapter 22: Structuring and Valuing Contingent Payments in M&A f. Chapter 23: Risk Management in M&A 6. A570_Learning Objectives_Class 8 g. Chapter 16: Financial Accounting for Mergers and Acquisitions h. Chapter 19: Choosing the Form of an Acquisitive Reorganization A570_Learning Objectives_Class #1 Chapter 1 1. While I do not want you to memorize the lists contained in Chapter 1, I think that they provide a useful model for thinking about M&A. Bruner opines that M&A outcomes (see #2) are driven by “structure” and “conduct”, but that structure and conduct also interact with each other. a. In the case of “structure”, Bruner is referring to “what exists.” He is thinking of exactly the kinds of issues one contemplates when looking at a “SWOT” analysis. As you will recall, the “SW” side of the analysis deals with issues that are INTERNAL to the company (its resources—both capital and labor, and what it is capable—and incapable—of doing) while the OT side of the analysis deals with...
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...= additional material from lectures. ( ) = my comments. (See ‘x’) refers to book page number. A short (somewhat boring) message from the summary executioner before you dive in; These notes are an interpretation of the book Law in Context and the lectures given as part of the 1991 Course. They are not a satisfactory substitution for reading the text. You are only likely to get the maximum value out of this summary by reading it in conjunction with the text. The question of ‘the law in whose context’ may be worth keeping in mind as you read. This is an interpretation seen through my eyes, not yours. My comments are not unbiased, as it is as equally unlikely that yours may be. So my ‘advice’ is consider what is said here and in the book considering the need to understand the ‘mechanics’ that help make sense of the more involved themes that develop in the book as you progress through Law in Context. The observations, important in their own right, may be particularly useful for seeing how their often ubiquitous expression is taken as ‘normal’ in the areas of wider society, such as in discussions of economics and power. It is unlikely that you will find any ‘right answers’ from this summary, but I do hope it helps you in synthesising opinions. A bibliography of books I used is given at the end of this summary. If your head isn’t spinning too much, maybe it is worth getting together earlier in the semester with friends and talking about some of the issues...
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...Research technique 10 2.1 Ethics 13 Data protection U.S. banks 15 Banks cash in on big data 16 Privacy vs. Security 17 Predicting with privacy 18 Privacy selling 19 Contrast between consumers privacy expectation versus their own online behavior 20 Expectations for growth internet users 2025 20 2.2Technology 22 Online banking approaches by different banks 22 SaaS business models 23 Why cloud computing for banks? 24 Privacy Trends 2014 – privacy trends in the age of technology 25 In-memory computing 27 2.3 Legislation 30 Europe Union 30 2.4 Future 31 Out in the open 31 Future sharing of finances 32 Changing Online ignorance 34 Cyber security trends for financial services 34 2.4 Results in-depth interviews 36 3.1 Basic needs 38 3.2 Drivers of change 39 3.3 Emerging consumer expectations 41 3.4 Inspiration 43 Target 43 Innovation by other banks 44 Luth Research 44 4.1 Technology 46 4.2 Changing user behaviors 46 4.3 Inconsistency 47 4.4 Legislation 47 5.1 Value proposition regarding SaaS and cloud computing trends 48 5.2 Financial forecast 49 5.3 Conclusion and recommendations 50 6. Bibliography 52 Appendix 1 – in-depth survey of teens aged 15-20 55 Appendix 2 - Interview questions – security 58 Appendix 3 - Innovation Dept. Interview 59 UPDATE Table of content at the end! Chapter 1 Research Proposal 1.1 Introduction to the...
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