Wheelan writes‚ "Life is about trade-offs‚ and so is economics." Indeed‚ so is Naked Economics. This book promises to be a good introduction to economics for the layman. Throughout the book‚ the author uses easy-to-understand language and vivid examples to illustrate his points in strategic places maintaining a sense of lightness with the readers in reading the material. Here is a summary of each of the 12 Chapters of the book Naked Economics: Undressing the Dismal Science by Charles Wheelan.
Premium Economics Bankruptcy in the United States Federal Reserve System
post-war economic miracle The war wiped out many of the gains Japan had made since 1868. About 40% of the nation’s industrial plants and infrastructure were destroyed‚ and production reverted to levels of about fifteen years earlier. The people were shocked by the devastation and swung into action. New factories were equipped with the best modern machines‚ giving Japan an initial competitive advantage over the victor states‚ who now had older factories. As Japan’s second period of economic development
Premium Japan World War II Economy of Japan
Unit 2- International economic Environment Economic Structures Developed Countries Developed countries are also called advanced countries‚ industrialized countries‚ more developed countries (MDC)‚ more economically developed countries (MEDC)‚ Global North countries‚ first world countries and post-industrial countries. While there is no official guideline for which country may be considered developed‚ different institutions have created different categories. The IMF identifies 32 advanced economies
Premium Human Development Index Developing country Developed country
Laissez-faire (French for "leave it be") economic theory argues that the economy works best when it is governed solely by market forces. There should be no government intervention in the form of taxes‚ unions‚ duties‚ tariffs‚ quotas‚ restrictive laws‚ monetary policy‚ etc. The market is left to run on its own. Mercantilism is the economic doctrine that government control of foreign trade is of paramount importance for ensuring the military security of the country one of a school of political
Premium Economics Adam Smith Capitalism
Health Economics Nowadays‚ economics have taken their high places in the countries‚ and they are necessary in the business field because they analyze the production‚ distribution‚ and consumption of goods and services. One of these economics is the health economics. Health delivery. The application of health economics reflects a universal desire to obtain maximum value for money by ensuring not just the clinical effectiveness‚ but also the cost-effectiveness of healthcare provision. Human
Premium Health economics Economics Health care
environment. Retrieved from http://ifsw.org/policies/globalisation-and-the-environment/ Department‚ U. N. (2015). World Economic Situation and Prospects 2015. Retrieved from http://www.un.org/en/development/desa/policy/wesp/wesp_archive/2015wesp_chap1.pdf Yang‚ S. (2014). Shift in global economic power Retrieved from http://www.pwc.com/gx/en/issues/megatrends/shift-in-global-economic-power-silas-yang.jhtml Sakir‚ S. (2015). Globalization Is Only a Good Thing If It Benefits All Groups of Society. Retrieved
Premium Economics United States International trade
Economic Theories The economic theory is divided into 3 theories; capitalism‚ socialism‚ & communism. Capitalism it’s an economic system that is based on private ownership of the means of production and the creation of goods or services for profit. For example‚ Japan & U.S. Adam smith had explained the workings of the free market within the capitalist economies and the individual freedom and choice emphasized. The second theory is Socialism and it’s a theory of
Premium Capitalism Karl Marx Economics
study of man. But economic anthropology corresponds to one of fields of anthropology which is known as ‘cultural anthropology’ – the study of human culture and behavior across cultures. It describes and explains human condition across all cultures and times. Economic anthropology is the study of the economic aspects of cultures. This subfield of cultural anthropology examines the relationships between systems of production‚ distribution and the socio-cultural matrix in which economic life is embedded
Premium Anthropology Economics Sociology
associated with high price causes decline in the value for money. It exists when the amount of money in the country is in excess of the physical volume of goods and services. Explain the reasons for this monetary phenomenon. Ans: Inflation: In economics‚ inflation is a sustained increase in the general price level of goods and services in an economy over a period of time. It can be defined as too much money chasing too few goods. When the general price level rises‚ each unit of currency buys fewer
Premium Inflation Economics
a 1. Define the three aspects of organizational architecture. The three aspects of organizational structures as highlighted in the synopsis of Managerial Economics and Organizational Architecture are as follows : 1. The assignment of decision rights within the firm 2. The methods of rewarding individuals 3. The structure of systems to evaluate the performance of individuals and units These three components are often referred to a stool with three legs. If one of the
Premium Economics