Book•
Intermediate microeconomics : A modern approach
01 Jan 2006-
TL;DR: The Varian approach as mentioned in this paper gives students tools they can use on exams, in the rest of their classes, and in their careers after graduation, and is still the most modern presentation of the subject.
Abstract: This best-selling text is still the most modern presentation of the subject. The Varian approach gives students tools they can use on exams, in the rest of their classes, and in their careers after graduation.
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TL;DR: In this article, the authors show that neoclassical economics is based on a wrong formulation of classical mechanics, being in fact formally analogous to equilibrium thermodynamics, and that the formal similarity between thermodynamics and microeconomics does not mean that economic models are in accordance with mass, energy and entropy balance equations.
37 citations
Dissertation•
01 Jan 2006
37 citations
TL;DR: In this article, the authors investigated the theoretical foundations of price as a multi-dimensional component of value and examined the nature of the relationship between price-attribute perception and overall price evaluation.
Abstract: Purpose – To investigate the theoretical foundations of price as a multi‐dimensional component of value and to examine the nature of the relationship between price‐attribute perception and overall price evaluation.Design/methodology/approach – The economic theory of the distribution of surplus across customers and the equity theory are used to develop the hypotheses about the multi‐dimensional nature of the price construct. Prospect theory is used to predict the relationship between price‐attribute performance and overall price evaluation. Data were collected through a structured questionnaire regarding mobile communications operators in Italy. After carrying out a principal factor analysis, several regression models were run to test the hypotheses.Findings – The results confirm that price is a multi‐dimensional construct (i.e. made up of cheapness, fairness and variety), yet they do not fully support the prospect theory predictions.Research limitations/implications – Multi‐item price measurement scales n...
37 citations
Cites background from "Intermediate microeconomics : A mod..."
...The difference between what the consumer is willing to pay (his or her maximum price) and what he or she actually pays (the level of price required by the supplier) is the consumer surplus ( Varian, 1987...
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TL;DR: A study of internal resource allocation in public Research I universities is particularly timely and important as the patterns of expenditures and revenues at public universities, after a period of substantial change, stabilized in 1999 as discussed by the authors.
Abstract: A study of internal resource allocation in public Research I universities is particularly timely and important as the patterns of expenditures and revenues at public universities, after a period of substantial change, stabilized in 1999. After 1999, a period of new retrenchments ensued as a result of intensified budget cutting that, in some cases, resulted in budget rescissions for some universities in fiscal years 2001–2002 and 2002–2003. An analysis of the revenue streams for public institutions of higher education over the 15 years from 1985 to 1999 reveals a decline in the proportion of current-fund revenue provided from the state from 45.1% to 35.8%, an absolute decrease of 21%. During the same period, tuition and fees rose sharply from 14.6% in 1985 to 18.5% in 1999, an absolute increase of 27% while private gifts, grants, and contracts rose from 3.1% in 1985 to 4.8% in 1999, an absolute increase of 55% (National Center for Education Statistics [NCES], 1993, p. 322; NCES, 1996, p. 4; NCES, 2003, p. 372). In the period between 1986 and 1999, institutional expenditures (measured in 1999 constant dollars, using the Higher Education Price Index [HEPI] deflator) increased by $38 billion, from $103 billion in 1986 to $141 billion in 1999, a 37% increase (inflation adjusted) while government funding increased by $11 billion, from $62 billion in 1986 to $73 billion in 1999, a 17% increase
36 citations
Cites background from "Intermediate microeconomics : A mod..."
...…paradigm that an organization pursues a set of goals to maximize its satisfaction, subject to one or more constraints (Clotfelter, 1996; Garvin, 1980; James, 1990; Jehle & Reny, 2001; Jencks & Reisman, 1968; Leslie & Rhoades, 1995; Mayhew, 1970; Tuckman & Chang, 1990; Varian, 1999; Vladeck, 1976)....
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...These functions, commonly found in the human capital theory literature, are used to estimate the relative importance of variables in the production of income (Jehle & Reny, 2001; Ramanathan, 1995; Varian, 1999)....
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...It is based on the paradigm that an organization pursues a set of goals to maximize its satisfaction, subject to one or more constraints (Clotfelter, 1996; Garvin, 1980; James, 1990; Jehle & Reny, 2001; Jencks & Reisman, 1968; Leslie & Rhoades, 1995; Mayhew, 1970; Tuckman & Chang, 1990; Varian, 1999; Vladeck, 1976)....
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10 Sep 2009
TL;DR: Reardon as mentioned in this paper discusses the need for a plurality in economics education and the importance of diversity in the curriculum of economics education, and presents a curriculum for the Pluralist Approach to Intermediate Macroeconomics.
Abstract: Part One: The Need For Pluralism in Economics Education 1. Introduction and Overview Jack Reardon 2. The Meltdown and Economics Textbooks Edward Fullbrook 3. A Revolution From the Margin: A Student Perspective Nicholas Dan, Nicholas Houpt, Sean Mallin and Felipe Witchger 4. Why Economics Needs Pluralism Bernard Guerrien and Sophie Jallais 5. History of Thought, Methodology and Pluralism Sheila Dow Part Two: Reclaiming the Principles Course 6. The Principles Course Julie Nelson 7. Teaching Economics as if Time Mattered David Wheat Part Three: Core Theory Courses 8. A Pluralist Approach to Intermediate Macroeconomics Irene van Staveren 9. A Pluralist Approach to Microeconomics Steve Keen 10. Mathematics for Pluralist Economists Steve Keen Part Four: Advanced Courses/Electives 11. Pluralism in Labor Economics Dell Champlin and Barbara Wiens-Tuers 12. Environmental Economics Peter Soderbaum 13. International Economics Maria Madi and Jose Goncalves 14. Money, Credit and Finance in Political Economy: National, Regional and Global Dimensions Phil O'Hara 15. Green Economics: An Exciting New Discipline Miriam Kennett Part Five 16. Conclusion Jack Reardon
36 citations