By Alan Griffiths, Stuart Wall
Utilized Economics is perfect for undergraduates learning economics, enterprise stories, administration and the social sciences. it's also appropriate for these learning expert classes, HND and 'A' point courses."Applied Economics" communicates the power and relevance of the topic to scholars, bringing economics to existence. Containing up to date info on monetary matters and occasions, the publication is helping scholars follow monetary ideas to the 'real international' and offers them an perception into the problems of formulating and imposing fiscal coverage.
Read or Download Applied Economics PDF
Best business & finance books
Economics affects each quarter of undefined. an effective knowing of simple monetary ideas provides you with larger perception into the marketplace, undefined, and international round you--equipping you with the instruments to make extra trained judgements as either a qualified and a shopper. famous for its readability, sensibility, and concentrated procedure, Tucker's SURVEY OF ECONOMICS, 6th variation, emphasizes the fundamentals of economics, offering suggestions within the context of real-world situations--and aiding you observe them on your personal setting.
This booklet reveals the perfect stability among arithmetic and financial examples, supplying a textual content that's not easy in point and wide ranging in content material, when closing obtainable and fascinating to its target market.
- The Politics of Banking: The Strange Case of Competition and Credit Control
- The Foundations of Economics: History and Theory in the Analysis of Economic Reality
- Economics and Reality (Economics as Social Theory)
- Non-Price Decisions: The Firm in a Modern Context
Additional info for Applied Economics
If, as a consequence of lower real wages, older and more labour-intensive methods are retained in the face of competition from new technology, markets will often still be lost on the basis of quality, even if prices can be held at apparently low levels. In these circumstances, the UK would be producing goods under similar conditions to many newly industrializing Third World countries. Low productivity, not fully compensated by low wages or by a lower exchange rate, leaves UK companies in a weak market position.
Since the cost of capital averaged around 5–7% per annum over the same period, the payoff for investing in either physical or human capital in the UK was hardly attractive! Productivity and labour skills The above account points to the importance of capital intensity in enhancing productivity. Of course the productivity of a nation also depends on the skills of its management and workforce in making the best use of whatever resources are available. Management is responsible for selecting projects, organizing the flow of work and the utilization of resources, so that effective management is a ‘necessary’ condition for good productivity performance.
Finally, the study pointed clearly to weaknesses in UK management by pointing out that US-owned companies based in the UK are nearly 90% more productive than their UK-owned counterparts. A relative lack of managerial qualifications in the UK may be a contributory factor here. For example, according to the UK’s Labour Force Survey around 35% of UK managers have no qualifications or are qualified below NVQ Level 3, with fewer than 40% qualified to NVQ Level 4 or higher. Research has shown that better-qualified UK managers tend to positively influence company performance through their superior human resource management skills and are also more likely to adopt strategies for introducing new, higher quality products (Bosworth et al.