Selected Works of Merton H. Miller


Book Description

Widely regarded as one of the founders of modern corporate finance, Merton H. Miller was awarded a Nobel Prize in 1990 for his work in the theory of finance and financial economics. Selected Works of Merton H. Miller gathers together in two volumes a selection of Miller's most influential contributions over more than fifty years of active research. A common theme running throughout both volumes is Miller's conviction about the utility of market-based approaches to topics as diverse as dividend policy, bank regulation, the structure of securities markets, and competition between research universities and teaching colleges. Miller was perhaps best known for a series of highly influential papers he cowrote in the 1950s and 1960s with fellow Nobel laureate Franco Modigliani that advanced a set of capital structure theorems later dubbed the "M and M propositions." In brief, the M and M propositions state that the actions of investors, firms, and capital markets will cause the market value of a firm to be independent of its capital structure. In other words, a corporation's value depends on its investments in people, ideas, and physical capital goods and not on the mix of bonds, stocks, and other securities used to finance the investments. Four of these papers are reprinted here, together with important later work by Miller in macroeconomics, corporate capital structure, management science, asset pricing, and the economic and regulatory problems of the financial services industry. Diverse and innovative, the papers in Selected Works of Merton H. Miller will interest students and practitioners of economics, finance, and business, as well as policymakers responsible for market regulation.




Economie de L'incertain Et de L'information


Book Description

The Economics of Uncertainty and Information may be used in conjunction with Loffont's Fundamentals of Economics in an advanced course in microeconomics.




English for Economics in Higher Education Studies


Book Description

English for Economics in Higher Education Studies The Garnet Education English for Specific Academic Purposes series won the Duke of Edinburgh English Speaking Union English Language Book Award in 2009. English for Economics is a skills-based course designed specifically for students of economics who are about to enter English-medium tertiary level studies. It provides carefully graded practice and progressions in the key academic skills that all students need, such as listening to lectures and speaking in seminars. It also equips students with the specialist language they need to participate successfully within a economics department. Extensive listening exercises come from economics lectures, and all reading texts are taken from the same field of study. There is also a focus throughout on the key economics vocabulary that students will need. Listening: how to understand and take effective notes on extended lectures, including how to follow the argument and identify the speaker's point of view. Speaking: how to participate effectively in a variety of realistic situations, from seminars to presentations, including how to develop an argument and use stance markers. Reading: how to understand a wide range of texts, from academic textbooks to Internet articles, including how to analyze complex sentences and identify such things as the writer's stance. Writing: how to produce coherent and well-structured assignments, including such skills as paraphrasing and the use of the appropriate academic phrases. Vocabulary: a wide range of activities to develop students' knowledge and use of key vocabulary, both in the field of economics and of academic study in general. Vocabulary and Skills banks: a reference source to provide students with revision of the key words and phrases and skills presented in each unit. Full transcripts of all listening exercises. The Garnet English for Specific Academic Purposes series covers a range of academic subjects. All titles present the same skills and vocabulary points. Teachers can therefore deal with a range of ESAP courses at the same time, knowing that each subject title will focus on the same key skills and follow the same structure. Key Features Systematic approach to developing academic skills through relevant content. Focus on receptive skills (reading and listening) to activate productive skills (writing and speaking) in subject area. Eight-page units combine language and academic skills teaching. Vocabulary and academic skills bank in each unit for reference and revision. Audio CDs for further self-study or homework. Ideal coursework for EAP teachers. Extra resources at www.garnetesap.com







Health Economics and Policy


Book Description

The collection represents an extraordinary intellectual achievement and ... a handbook for anyone thinking about health and health policy.




Economics of Good and Evil


Book Description

Tomas Sedlacek has shaken the study of economics as few ever have. Named one of the "Young Guns" and one of the "five hot minds in economics" by the Yale Economic Review, he serves on the National Economic Council in Prague, where his provocative writing has achieved bestseller status. How has he done it? By arguing a simple, almost heretical proposition: economics is ultimately about good and evil. In The Economics of Good and Evil, Sedlacek radically rethinks his field, challenging our assumptions about the world. Economics is touted as a science, a value-free mathematical inquiry, he writes, but it's actually a cultural phenomenon, a product of our civilization. It began within philosophy--Adam Smith himself not only wrote The Wealth of Nations, but also The Theory of Moral Sentiments--and economics, as Sedlacek shows, is woven out of history, myth, religion, and ethics. "Even the most sophisticated mathematical model," Sedlacek writes, "is, de facto, a story, a parable, our effort to (rationally) grasp the world around us." Economics not only describes the world, but establishes normative standards, identifying ideal conditions. Science, he claims, is a system of beliefs to which we are committed. To grasp the beliefs underlying economics, he breaks out of the field's confines with a tour de force exploration of economic thinking, broadly defined, over the millennia. He ranges from the epic of Gilgamesh and the Old Testament to the emergence of Christianity, from Descartes and Adam Smith to the consumerism in Fight Club. Throughout, he asks searching meta-economic questions: What is the meaning and the point of economics? Can we do ethically all that we can do technically? Does it pay to be good? Placing the wisdom of philosophers and poets over strict mathematical models of human behavior, Sedlacek's groundbreaking work promises to change the way we calculate economic value.







Milton Friedman on Economics


Book Description

Milton Friedman on Economics: Selected Papers collects a variety of Friedman's papers on topics in economics that were originally published in the Journal of Political Economy. Opening with Friedman's 1977 Nobel Lecture, the volume spans nearly the whole of his career, incorporating papers from as early as 1948 and as late as 1990.




Public Economics


Book Description

This book provides convenient access to a selection of Nobel prizewinner William Vickrey's papers, which have helped shape the modern field of public economics.