Economics

Este manual de macroeconomía ha sido diseñado para facilitar el aprendizaje de los modelos macroeconómicos básicos a través de un enfoque pedagógico que combina la modelización económica, la aplicación práctica, la calibración y la simulación. Dirigido a estudiantes de grado, este recurso busca que el alumno entienda el interés de los modelos, cuál es el sentido de su calibración y el papel que tienen los datos y el uso de la estadística y la econometría para evaluar y simular escenarios económicos. Basado en un álgebra sencilla y apoyado en Excel, su objetivo es desarrollar habilidades para el análisis técnico y la interpretación de fenómenos macroeconómicos. Además, fomenta la comprensión del trabajo del economista y la importancia de las herramientas cuantitativas para evaluar políticas y shocks. Este manual pretende sentar las bases para que, en cursos posteriores, el estudiante pueda abordar modelos más complejos, microfundamentados y con elementos estocásticos, cuando se potencien sus competencias en modelización, calibración y simulación.

The economy of the industrialized countries in the 21st century has already moved to a new level of mass production and technology never seen before, thanks in part to globalization, advanced technologies, new organization management methods, and innovative supply chain. A relatively large number of mass-produced commodities (characterized as non-premium) and services in Western economies are somehow sold at discounts rather than regular prices at a much higher frequency that was never seen before. This phenomenon has completely changed how we look at the theory of the firm in microeconomics. This book is indented to introduce new ideas and theories by challenging the current modern micro-and-macro economic theories. In a globalized world, the economies of advanced countries have entered a new phase called “economy pricing,” where most of the mass commodities are sold at a low price during certain periods of the year, called ‘sales events’. In addition to low prices, most industrialized countries have had record low inflation, low-interest rates, low growth, and low unemployment rates. This book will contend how the “Economy Pricing System” is about to revolutionize how people look at a real economy’s micro and macro effects.

Este manual de macroeconomía ha sido diseñado para facilitar el aprendizaje de los modelos macroeconómicos básicos a través de un enfoque pedagógico que combina la modelización económica, la aplicación práctica, la calibración y la simulación. Dirigido a estudiantes de grado, este recurso busca que el alumno entienda el interés de los modelos, cuál es el sentido de su calibración y el papel que tienen los datos y el uso de la estadística y la econometría para evaluar y simular escenarios económicos. Basado en un álgebra sencilla y apoyado en Excel, su objetivo es desarrollar habilidades para el análisis técnico y la interpretación de fenómenos macroeconómicos. Además, fomenta la comprensión del trabajo del economista y la importancia de las herramientas cuantitativas para evaluar políticas y shocks. Este manual pretende sentar las bases para que, en cursos posteriores, el estudiante pueda abordar modelos más complejos, microfundamentados y con elementos estocásticos, cuando se potencien sus competencias en modelización, calibración y simulación.

'Why Do Investors Act Irrationally? Behavioral Biases of Herding, Overconfidence, and Overreaction' explores the powerful psychological forces that drive investor decisions, often leading to irrational behavior and market turbulence. This book provides an in-depth analysis of three critical behavioral biases—herding, overconfidence, and overreaction—that influence investors across various financial markets. Drawing on cutting-edge research and real-world examples, it delves into why even experienced investors sometimes fall prey to these biases, challenging conventional financial theories that assume rational behavior. Designed for scholars, finance professionals, and advanced students, this book fills a gap in behavioral finance literature by examining not just the existence of these biases, but their consequences and the conditions that amplify or mitigate them. Unlike traditional finance texts, which focus primarily on quantitative models, this work bridges psychology and finance, making it uniquely suited for those interested in understanding the ‘why’ behind investor actions. It positions itself alongside essential readings in behavioral finance, offering original insights and a fresh perspective that will be invaluable to researchers, policy advisors, and practitioners alike. Its accessible yet academically rigorous content also makes it ideal for classroom adoption in advanced finance and behavioral economics courses, offering thought-provoking discussion points and practical implications. 'Why Do Investors Act Irrationally?' invites readers to rethink traditional assumptions about financial markets and provides actionable strategies to address the influence of irrational biases in investment decisions, making it an indispensable resource in the evolving field of behavioral finance.

'Why Do Investors Act Irrationally? Behavioral Biases of Herding, Overconfidence, and Overreaction' explores the powerful psychological forces that drive investor decisions, often leading to irrational behavior and market turbulence. This book provides an in-depth analysis of three critical behavioral biases—herding, overconfidence, and overreaction—that influence investors across various financial markets. Drawing on cutting-edge research and real-world examples, it delves into why even experienced investors sometimes fall prey to these biases, challenging conventional financial theories that assume rational behavior. Designed for scholars, finance professionals, and advanced students, this book fills a gap in behavioral finance literature by examining not just the existence of these biases, but their consequences and the conditions that amplify or mitigate them. Unlike traditional finance texts, which focus primarily on quantitative models, this work bridges psychology and finance, making it uniquely suited for those interested in understanding the ‘why’ behind investor actions. It positions itself alongside essential readings in behavioral finance, offering original insights and a fresh perspective that will be invaluable to researchers, policy advisors, and practitioners alike. Its accessible yet academically rigorous content also makes it ideal for classroom adoption in advanced finance and behavioral economics courses, offering thought-provoking discussion points and practical implications. 'Why Do Investors Act Irrationally?' invites readers to rethink traditional assumptions about financial markets and provides actionable strategies to address the influence of irrational biases in investment decisions, making it an indispensable resource in the evolving field of behavioral finance.

'Why Do Investors Act Irrationally? Behavioral Biases of Herding, Overconfidence, and Overreaction' explores the powerful psychological forces that drive investor decisions, often leading to irrational behavior and market turbulence. This book provides an in-depth analysis of three critical behavioral biases—herding, overconfidence, and overreaction—that influence investors across various financial markets. Drawing on cutting-edge research and real-world examples, it delves into why even experienced investors sometimes fall prey to these biases, challenging conventional financial theories that assume rational behavior. Designed for scholars, finance professionals, and advanced students, this book fills a gap in behavioral finance literature by examining not just the existence of these biases, but their consequences and the conditions that amplify or mitigate them. Unlike traditional finance texts, which focus primarily on quantitative models, this work bridges psychology and finance, making it uniquely suited for those interested in understanding the ‘why’ behind investor actions. It positions itself alongside essential readings in behavioral finance, offering original insights and a fresh perspective that will be invaluable to researchers, policy advisors, and practitioners alike. Its accessible yet academically rigorous content also makes it ideal for classroom adoption in advanced finance and behavioral economics courses, offering thought-provoking discussion points and practical implications. 'Why Do Investors Act Irrationally?' invites readers to rethink traditional assumptions about financial markets and provides actionable strategies to address the influence of irrational biases in investment decisions, making it an indispensable resource in the evolving field of behavioral finance.

This book aims to illustrate how the 'popular' is not an arbitrary outcome as it is claimed to be, and how the project of constructing the popular functions as a web composed of different agents - governmental and state agencies, the media, corporate groups, development agencies, and the military with subtle nuances. Different agencies overlap in many aspects but work as a pact for making a national-popular. With specific references to Bangladesh, this book tends to illuminate how these agencies share similar missions and objectives, create spaces to collaborate with each other, and, regardless of specific disputes among them, maintain and manifest an oligarchic relationship. This is the flexible, yet definitive, location of the popularizing project - a 'cultural mission' of the ruling systems. It would deny a simplistic understanding of popular culture and posit the question of the popular within a complex web of social agencies in a particular space, at a specific historical juncture. Making popular here is integral to claiming populist credibility both as a cultural and political mission. It is cultural in the way the projects are launched and manifested and seek to reveal certain meanings. It is political in terms of configuring indoctrination over its subjects, mostly in the form of nationalist exhibitions. The project is becoming even more important for the corporate groups as it does not necessarily contest the state machinery but rather takes it as a 'de facto' ally.

This book aims to illustrate how the 'popular' is not an arbitrary outcome as it is claimed to be, and how the project of constructing the popular functions as a web composed of different agents - governmental and state agencies, the media, corporate groups, development agencies, and the military with subtle nuances. Different agencies overlap in many aspects but work as a pact for making a national-popular. With specific references to Bangladesh, this book tends to illuminate how these agencies share similar missions and objectives, create spaces to collaborate with each other, and, regardless of specific disputes among them, maintain and manifest an oligarchic relationship. This is the flexible, yet definitive, location of the popularizing project - a 'cultural mission' of the ruling systems. It would deny a simplistic understanding of popular culture and posit the question of the popular within a complex web of social agencies in a particular space, at a specific historical juncture. Making popular here is integral to claiming populist credibility both as a cultural and political mission. It is cultural in the way the projects are launched and manifested and seek to reveal certain meanings. It is political in terms of configuring indoctrination over its subjects, mostly in the form of nationalist exhibitions. The project is becoming even more important for the corporate groups as it does not necessarily contest the state machinery but rather takes it as a 'de facto' ally.

This book aims to illustrate how the 'popular' is not an arbitrary outcome as it is claimed to be, and how the project of constructing the popular functions as a web composed of different agents - governmental and state agencies, the media, corporate groups, development agencies, and the military with subtle nuances. Different agencies overlap in many aspects but work as a pact for making a national-popular. With specific references to Bangladesh, this book tends to illuminate how these agencies share similar missions and objectives, create spaces to collaborate with each other, and, regardless of specific disputes among them, maintain and manifest an oligarchic relationship. This is the flexible, yet definitive, location of the popularizing project - a 'cultural mission' of the ruling systems. It would deny a simplistic understanding of popular culture and posit the question of the popular within a complex web of social agencies in a particular space, at a specific historical juncture. Making popular here is integral to claiming populist credibility both as a cultural and political mission. It is cultural in the way the projects are launched and manifested and seek to reveal certain meanings. It is political in terms of configuring indoctrination over its subjects, mostly in the form of nationalist exhibitions. The project is becoming even more important for the corporate groups as it does not necessarily contest the state machinery but rather takes it as a 'de facto' ally.

Once Joseph Stalin took the lead of the Soviet Bolshevists after the death of Vladimir Lenin, he quickly turned away from Lenin’s New Economic Policy, with its many concessions to capitalism, to a policy of one-country socialism, driven by his first Five Year Plan (1928) and a plan that other Bolsheviks like Lenin and Trotsky thought impossible. That shift, radical, forced Stalin to “urbanize” the USSR’s vast rural areas—that is, to impose a factory-like model on the Soviet countryside to maximize its efficiency. That required collectivizing the numerous Soviet farms—making large farms of the numerous small farms. Ukraine was to be the model republic due to its vastness and black, fertile lands. Not only were the republics to be collectivized, they were also to be Russified for the sake of model efficiency and centralization of control. And so, while Stalin, early in his political life, preached respect for the cultural diversity of its many republics and the right of secession of any republic, the need to collectivize the Soviet farms for the sake of one-country socialism demanded compliance. Ukrainian peasant-farmers were non-compliant, for they readily saw that the State was asking them for everything and giving back nothing but the pledge of efficient farms to benefit the State, and non-compliance forced Stalin’s authoritarian hand. He imposed laws that brutally punished non-compliant peasants, called “kulaks.” The plan was dekulakization. The intransigents were dispossessed of their property, alienated from other villagers, exiled, and exterminated. The result in Ukraine was the gross inefficiency of both collective and individual farms. That led to intolerance of Ukrainian culture and theft of Ukrainian grain, and even all other findable foodstuffs, to punish Ukrainians. The end was a great famine in 1932 and 1933 in which some four million Ukrainians died. Did Stalin believe that he could urbanize the Soviet countryside? Did Stalin think that socialism could take root in the backwater Soviet Union without the aid of Western succor? Did Stalin hate Ukrainians because many pressed for a cultural identity separate from that of Russia? Had Stalin’s plan of dekulakization from the beginning been a policy of political genocide? Those are some of the many questions I aim to answer in this book. I focus much on Stalin’s writings in the efforts to ascertain his mindset as a dictator.