Showing 1 - 10 of 650,173
I describe an assignment for a history of economic thought (HET) course, "The Most Interesting Economist in History," modeled off of the NCAA Men's Basketball Tournament. Students vote in head-to-head matchups between economic writers by era for whom they find to be more "interesting" and...
Persistent link: https://www.econbiz.de/10013242042
This educational resource utilizes the Essential Scholars series published by the Fraser Institute and combines it with the Kahoot! learning platform to promote deeper learning. The nine Essential Scholars (Adam Smith, David Ricardo, David Hume, John Locke, Joseph Schumpeter, James Buchanan,...
Persistent link: https://www.econbiz.de/10013321794
Macroeconomics essentially discusses macroeconomic phenomena from the perspectives of various schools of economic thought, each of which takes different views on how macroeconomic agents make decisions and how the corresponding markets operate. Therefore, developing a clear, comprehensive...
Persistent link: https://www.econbiz.de/10012914305
Hedging of illiquid financial instruments is carried out with liquid instruments that, as a rule, have simpler payoff functions. For example, hedging of Asian or long-dated put options is carried out with vanilla puts, hedging of Bermuda swaptions is done with vanilla swaptions, etc. This kind...
Persistent link: https://www.econbiz.de/10013000625
This paper points out to loopholes in Modern Portfolio Theory (MPT) and fundamental flaws that question its validity …
Persistent link: https://www.econbiz.de/10012917550
– game theory is a useful set of tools for better understanding different risk settings. Embedded in a short history of the … Basel Accord in this article we introduce some basic ideas of game theory in the context of rating procedures in accordance … with Basel II. As well, some insight is given how game theory works. Here, the primary value of game theory stems from its …
Persistent link: https://www.econbiz.de/10010296819
theory than was previously the case. Discussing new types of applied work, the changing context of applied work, and new …
Persistent link: https://www.econbiz.de/10011617408
Sixty years ago, Schumpeter's Presidential Address to the American Economic Association discussed the "pre-scientific vision" underlying the research of individual economists. This paper argues that a similar concept can be applied to different students studying economics. Resource students at a...
Persistent link: https://www.econbiz.de/10014219045
To answer the question "How to be an Ecological Economist", we must start by defining the field of Ecological Economics. Mainstream Economics altogether lacks the concepts required to deal adequately with nature, justice and time. It was the absence of these three concepts in this otherwise...
Persistent link: https://www.econbiz.de/10003592913
Formal analysis, in which maximizing agents use today's "true" model of the economy to form expectation upon which they then base their behaviour, trivializes the role of the future in economic life and ignores the possibility that the past's models, which helped generate the data against which...
Persistent link: https://www.econbiz.de/10009671730