Outlines Of Economics

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“An Outline of Financial Economics” presents a systematic treatment of the theory and methodology of finance and economics. The book follows an analytical and geometric methodology, explaining technical terms and mathematical operations in clear, non-technical language, and providing intuitive explanations of the mathematical results. The text begins with a discussion of financial instruments, which form the basis of finance theory, and goes on to analyze bonds – which are regarded as fixed income securities – in a simple framework, and to discuss the valuation of stocks and cash flows in detail. Highly relevant topics such as attitudes toward risk, uncertainty, the financial structure of a firm, stochastic dominance, portfolio management, option pricing and conditions for non-arbitrage are analyzed explicitly. Because of its wide coverage and analytical, articulate and authoritative presentation, “An Outline of Financial Economics” will be an indispensable book for finance researchers and undergraduate and graduate students in fields such as economics, finance, econometrics, statistics and mathematics.

Excerpt from Outlines of Economics: A Syllabus for Introductory Study 1. Definition, Scope and Scientific Character of Economics. a. Definitions used at different periods of economic study reveal the change in its character. Adam Smith, 1776: Inquiry into the Nature and Causes of the wealth of nations. Nassau Wm. Senior, 1836: "The science which treats of the nature, the production and the distribution of wealth." Luigi Cossa, 1877: "The science of the social ordering of wealth." Seager, 1913" "Economics is the social science which treats of that portion of human activity which is concerned with earning a living.' b. "'Money,' is the center around which economic science clusters because in this world of ours it is the one convenient means of measuring human motive on a large scale." c. Not all subjects of study are sciences. The characteristics of the sciences are ability to classify facts or phenomena in orderly arrangement; and to establish relations of sequence or cause among them. From these follow some possibility of prediction. Sciences have these characteristics in very different degrees. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.