Each of the ten chapters in The Undercover Economist presents concrete real-world examples and uses simple economic principles to explain some of underlying mechanics of our often baffling world. 1. Who Pays for Your Coffee?: Introducing the concepts of scarcity and bargaining power, we learn that the premium price we pay for coffee on our morning commute to work has nothing to do with the quality of the coffee and everything to do with location, location, location 2. What Supermarkets Don't
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Executive pay is often perceived by large as an excess of company compensation. But does it generally provide better results? It is evident that executive pay plays a role in a company’s performance, however the extent of its influence depends on the company’s policy on executive pay. In the essay I will examine how executive pay is dependent on company performance and whether this will affect future company development. The most basic concept is that the amount that executives are paid has a
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Indonesia, the world’s fourth-most populous country after China, India and the US is the largest economy in Southeast Asia. Although there had been a little concern over economy slowdown, the country has grown rapidly in past years. According to the Economist, “gross national income per head doubled during the decade to 2012, to $4,730 and the proportion of the population living in poverty fell by half, from 24% in 1999 to 12% in 2012”. Indonesia recently had the 3rd presidential election last July
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Global house prices Downdraft European house prices are finding it harder to defy gravity Mar 31st 2012 | WASHINGTON, DC | from the print edition FROM the late 1990s home prices across the rich world soared relentlessly upward, borne aloft on a gale of cheap capital. In 2006 some overvalued markets began crashing to earth. Until recently, however, the correction seemed remarkably contained. American and Irish home prices plunged, giving up all the gains of the previous decade, but others have
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There are _ Roles an _ plays2, Economist Economist Role #1:As a Scientist Economist Role #2:As a Policy Advisor How is an Economist and a Scientist alike?They work together to EXPLAIN the world. How is an Economist and a Policy Advisor alike?They work together to IMPROVE the world. What method do both Economists and Scientists use to explain the World?The Scientific Method; through Observation, Theory and more Observation. What are Assumptions?Statements that help simplify
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Why economists disagree? To understand why often economists do not agree with each other, first we have to know what is the economics, or who are the economists? According to the ancient Greek it means “one who manages and administers all matters relating to a household”. It is natural that human have needs and wants that they want to satisfy, and they do it by physical and non-physical objects. The physical ones are defined by people as goods (food, clothes, houses, etc.), the non-physical by
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support. The writer, or possible writers, from the Economist put the case forward that America’s poor in the 2012 election campaign cycle were forgotten about. This article captured my interest, because I’m from a family whose income is around poverty level. Founded in September of 1843, The Economist is an English-language based newspaper owned by the Economist Group. The Economist publication is well-known in the U.S. and Europe. The Economist is compelling, because of its thorough research, excellent
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自己的营销体制，仍然是可以继续保留的，看今天的日本、德国不依然还是世界上强大的制造业大国吗？所以说工资的上涨并不意味着制造业大国地位的丧失，我们要加快转型，转变发展方式，向中高端的制造业进军，所以“十二五”要发展先进的制造业，特别是现代生产型服务业。”(citation 4) 总的来说，这三个中国学家都对中国的制造业未来很乐观的想法，我觉得对中国人来看，这个想法是应该的。下面我们还要阐述一些国外的学家对这个现象什么样的看法。 我在研究当中看过了一篇博客在英国很有名的杂志里“The Economist”,2010年它们邀请过几个比较著名的学家讨论中国的制造业以廉价劳动力为优势的时代是不是结束了，如果结束了的话会对国外的公司什么样的影响。因为他们的评论都是用英语来写自己的看法，我尽量把他们写的看法总结翻译到汉语。相比中国国内的看法，这些学家好像放重要性在不一样的位置，比较重视这个变化怎么会影响其他国家的公司，而国内的学家自然会重视这个变化怎么会影响国内的经济还有发展。 第一个学家(Tyler
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ECONOMICS _____________________________________________________________________________________ WEEK 1: HOW ECONOMISTS THINK * What are preferences? Preferences refer to all of the objectives an individual wants to achieve that might motivate a choice among a set of alternatives. * What does it mean for an individual’s preferences to be rational? Please explain the concepts of costs and benefits and the reasoning process used by a rational individual. A rational individual will
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Chapter 1 Thinking Like an Economist Answers to text questions and problems Answers to Review Questions 1. Your friend probably means that the benefits from private solo lessons are greater (your tennis game will improve faster) than if you take group lessons. But private lessons are also more costly than group lessons. So those people who don’t care that much about how rapidly they improve may do better to take group lessons and spend what they save on other things. (LO2) AACSB: Analytic
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