In 1936 Keynes published the most provocative book written by any economist of his generation. Arguments about the book continued until his death in 1946 and still continue today. This new edition, published 70 years after the original, features a new introduction by Paul Krugman which discusses the significance and continued relevance of The General Theory.
About this product: For the most part, there is nothing this book can teach you that you won't find in your casebook, but the problems are good practice. A lot of the information is helpful, but I don't know if you can trust all of the answers. My study group and I have found various confusing mistakes within and it has cost us valuable study time. See e.g. page 152 --second paragraph explaining a RAP problem (the author confuses O and A in saying that all of A's children would be born or conceived upon O's death).
About this product: Power Cards is a great tool in helping some autistic children modify and/or change their inappropriate behavior. It might not be the right tool for all autistic children, but for some it can really open up doors to social appropriateness and development. The examples are great and the clinical results listed in the book give a great deal of credibility to this strategy.
The 2nd edition of this successful book has several new features. The calibration discussion of the basic LIBOR market model has been enriched considerably, with an analysis of the impact of the swaptions interpolation technique and of the exogenous instantaneous correlation on the calibration outputs. A discussion of historical estimation of the instantaneous correlation matrix and of rank reduction has been added, and a LIBOR-model consistent swaption-volatility interpolation technique has been introduced.
The old sections devoted to the smile issue in the LIBOR market model have been enlarged into several new chapters. New sections on local-volatility dynamics, and on stochastic volatility models have been added, with a thorough treatment of the recently developed uncertain-volatility approach. Examples of calibrations to real market data are now considered.
The fast-growing interest for hybrid products has led to new chapters. A special focus here is devoted to the pricing of inflation-linked derivatives.
The three final new chapters of this second edition are devoted to credit. Since Credit Derivatives are increasingly fundamental, and since in the reduced-form modeling framework much of the technique involved is analogous to interest-rate modeling, Credit Derivatives -- mostly Credit Default Swaps (CDS), CDS Options and Constant Maturity CDS - are discussed, building on the basic short rate-models and market models introduced earlier for the default-free market. Counterparty risk in interest rate payoff valuation is also considered, motivated by the recent Basel II framework developments.
About this product: A History of Interest Rates presents a very readable account of interest rate trends and lending practices over four millennia of economic history. Despite the paucity of data prior to the Industrial Revolution, authors Homer and Sylla provide a highly detailed analysis of money markets and borrowing practices in major economies. Underlying the analysis is their assertion that "the free market long-term rates of interest for any industrial nation, properly charted, provide a sort of fever chart of the economic and political health of that nation." Given the enormous volatility of rates in the 20th century, this implies we're living in age of political and economic excesses that are reflected in massive interest rate swings. Gain more insight into this assertion by ordering a copy of this book today.
About this product: From an acclaimed novelist, an emotionally complex and riveting story of suspicion, innocence, and regret
When a mail bomb explodes in the campus office next door, Lee, an Asian American math professor at a second-tier university in the Midwest, comes under suspicion. The authorities believe he may be the infamous “brain bomber,” an elusive terrorist whose primary targets are prominent scientists and mathematicians.
In the midst of campus tumult and grief over the star computer scientist who was killed by the bomb, Lee receives a disturbing letter from a figure in his past. Certain he is being targeted for revenge, he begins confronting key events in his life. Misunderstood by the people around him, Lee is not conscious that his behavior has begun to heighten suspicion in the minds of his colleagues, students, and neighbors, leading the FBI to designate him “a person of interest” and pushing his life and reputation to the verge of ruin.
Intricately plotted and engrossing, A Person of Interest asks how far one man can run from his past, and explores the impact of scrutiny and suspicion in an age of terror. With its propulsive drive and vividly realized characters, Susan Choi’s latest novel is as thrilling as it is lyrical, and confirms her place as one of the most important young novelists chronicling the American experience.
About this product: I am a Cadette/Senior Girl Scout Leader. When I first became a leader of this age group, I found this book to be unfriendly, and very hard. After 3 years experience, I have become the expert, and have helped many other troops find resources. Overall, the layout of this material is good, but as far as resources being readily available as in other editions for younger age groups, this is missing. For younger Cadette Scouts, many of the requirements for the badges seem impossible. It takes a creative leader to make some of the requirements accomplishable and interesting.
About this product: The third edition of The Theory of Interest is significantly revised and expanded from previous editions. The text covers the basic mathematical theory of interest as traditionally developed. The book is a thorough treatment of the mathematical theory and practical applications of compound interest, or mathematics of finance. The pedagogical approach of the second edition has been retained in the third edition. The textbook narrative emphasizes both the importance of conceptual understanding and the ability to apply the techniques to practical problems. The third edition has considerable updates that make this book relevant to students in this course area.
Despite George W. Bush’s professed opposition to big government, federal spending has increased under his watch more quickly than it did during the Clinton administration, and demands on government have continued to grow. Why? Lawrence Brown and Lawrence Jacobs show that conservative efforts to expand markets and shrink government often have the ironic effect of expanding government’s reach by creating problems that force legislators to enact new rules and regulations. Dismantling the flawed reasoning behind these attempts to cast markets and public power in opposing roles, The Private Abuse of the Public Interest urges citizens and policy makers to recognize that properly functioning markets presuppose the government’s ability to create, sustain, and repair them over time. The authors support their pragmatic approach with evidence drawn from in-depth analyses of education, transportation, and health care policies. In each policy area, initiatives such as school choice, deregulation of airlines and other carriers, and the promotion of managed care have introduced or enlarged the role of market forces with the aim of eliminating bureaucratic inefficiency. But in each case, the authors show, reality proved to be much more complex than market models predicted. This complexity has resulted in a political cycle—strikingly consistent across policy spheres—that culminates in public interventions to sustain markets while protecting citizens from their undesirable effects. Situating these case studies in the context of more than two hundred years of debate about the role of markets in society, Brown and Jacobs call for a renewed focus on public-private partnerships that recognize and respect each sector’s vital—and fundamentally complementary—role.