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This chapter begins with a discussion of the rationality assumption in economics and introduces the model of quasi-linear preferences. Subsequently, it is shown how demand can be summarized using demand curves and elasticity of demand. It closes with a discussion of cost curves and returns to scale.
This chapter introduces preference orderings and their representation by utility functions. Also, the consumer choice problem as a utility-maximization problem and its applications. Income and the substitution effect are discussed.
This chapter introduces the model of a Walrasian exchange economy and the concept of Walrasian equilibrium. Its existence and welfare properties are illustrated using an Edgeworth box. Applications of the model to free trade, the effect of automation, and Baumol’s cost disease are described.
The concept of externality is introduced, as well as the various ways of “internalizing” them. Particular emphasis is given to the Coasean approach of contracts and its limitations.The limitations of the Coasean approach are connected to the problem of public good provision. Applications to media and vaccines are given.
This chapter introduces the three degrees of price discrimination as well as a discussion of the attendant arbitrage possibilities. The focus of the chapter is on second-degree price discrimination, which is illustrated withversioning and bundling. There is also an extensive discussion of two-part tariffs with application to the pricing of a system consisting of a consumable and a durable.
The increasing dominance of the Asia–Pacific region as a source of international business growth has created a dynamic and complex business environment. For this reason, a sound understanding of regional economies, communities and operational challenges is critical for any international business manager working in a global context. With an emphasis on 'doing business in Asia', Contemporary International Business in the Asia–Pacific Region addresses topics that are driving international business today. Providing content and research that is accessible to local and international students, this text introduces core business concepts and comprehensively covers a range of key areas, including trade and economic development, dimensions of culture, business planning and strategy development, research and marketing, and employee development in cross-cultural contexts. Written by authors with industry experience and academic expertise, Contemporary International Business in the Asia–Pacific Region is an essential resource for students of business and management.
The third edition of Managing Employee Performance and Reward: Systems, Practices and Prospects has been thoroughly revised and updated by a new four-member author team. The text introduces a new conceptual framework based on systems thinking and a dual model of strategic alignment and psychological engagement. Coverage of chapter topics provides a balance between research evidence and practice and, in this new edition, is enhanced with a more applied and technical approach. The text also includes chapters dedicated to conceptual framing, base pay and individual recognition and reward; 'reality check' breakout boxes with practical examples and current problems on each of strategic alignment, employee engagement, organisation justice and workforce diversity; and a new chapter exploring new horizons in performance and reward practice and research with a focus on the mega-trends of technological transformation under 'Industry 4.0', new economic forms and relationships arising from the 'gig' economy, and generational change.
Innovative and evidence-based, this introduction to the main concepts and issues in language teaching uses a 'key questions' structure, enabling the reader to understand how these questions have been addressed by researchers previously, and how the findings inform language teaching practices. Grounded in research, theory and empirical evidence, the textbook provides students, practitioners and teachers with a complete introductory course in language teaching. Written in a clear and user-friendly style, and avoiding use of jargon, the book draws upon real-life teaching experiences and scenarios to provide practical advice. A glossary of key terms, questions for discussion and further reading suggestions are included. The book is perfectly suited to language teaching modules on English language, TESOL and applied linguistics courses.
Suitable for both senior-level and first-year graduate courses, this fully revised edition provides a unique and systematic treatment of engineering dynamics that covers Newton–Euler and Lagrangian approaches. New to this edition are: two completely revised chapters on the constraints on, and potential energies for, rigid bodies, and the dynamics of systems of particles and rigid bodies; clearer discussion on coordinate singularities and their relation to mass matrices and configuration manifolds; additional discussion of contravariant basis vectors and dual Euler basis vectors, as well as related works in robotics; improved coverage of navigation equations; inclusion of a 350-page solutions manual for instructors, available online; a fully updated reference list. Numerous structured examples, discussion of various applications, and exercises covering a wide range of topics are included throughout, and source code for exercises, and simulations of systems are available online.
In the multi-disciplinary field of wind energy, students and professionals can often be uncomfortable outside their own specialist areas. This essential textbook explains the key aspects of wind turbine technology and its application in a single readable text. Covering a broad range of multi-disciplinary topics, including everything from aerodynamics through to electrical and control theory, to structures, planning, economics, and policy, this reference is an excellent toolkit for undergraduate students, postgraduate students, and professionals in the field of wind energy. Key concepts, including more challenging ones such as rotational sampling of turbulence, vortex wake structures, and reactive power management, are explained using clear language and simplifying illustrations including experimental graphs, photos, and line drawings.
The fundamental algorithms in data mining and machine learning form the basis of data science, utilizing automated methods to analyze patterns and models for all kinds of data in applications ranging from scientific discovery to business analytics. This textbook for senior undergraduate and graduate courses provides a comprehensive, in-depth overview of data mining, machine learning and statistics, offering solid guidance for students, researchers, and practitioners. The book lays the foundations of data analysis, pattern mining, clustering, classification and regression, with a focus on the algorithms and the underlying algebraic, geometric, and probabilistic concepts. New to this second edition is an entire part devoted to regression methods, including neural networks and deep learning.
Mathematical analysis is key to the modeling and management of natural resources. By presenting required mathematical methods, classic dynamic models for non-renewable and renewable resources, and by exploring several contemporary problems, this text provides a foundation for advanced research. Topics include seminal models in fishery, forestry and non-renewable resource management, as well as an extensive collection of contemporary applications that include the optimal transition from fossil fuels to clean energy, the optimal timing of interventions to save endangered species, pest control and the optimal management of antibiotic resistance. Deterministic and stochastic models in both discrete and continuous time are covered. The book encourages students to pursue a deeper understanding of the analytics of resource problems and to deploy numerical methods when analytical results prove intractable. The combination of analysis, theory and applications will launch the next generation of resource economists, while serving as a useful reference for established researchers.