Microeconomic and Macroeconomic

Okey let’s start our lesson economy is divided into 2 different approach in the macroeconomic & microekonomi.two approach based on modern economic theory.
Adam Smith is usually considered the founder of the field micro economics,The branch of economics wich today is concerned with the behavior of individual entities such as markets,firms,and household.In the Wealth of nations(1776),Smith considered how individualprice are set,studied the determination of price of land,labour,and capital,and inquired into the strength and weaknesses o0f the market mechanism.Most important,He identified the remarkable efficiency properties of markets and saw that economic benefit comes from the self.Interested actions of individuals ,These remain important issues today,And while the study of micro economics has surely advanced greatly since Since Smith day, he is still cited by politicians and Economics alike.
The other major branch of economic subject is Macro economics,Wich is concerned with the overall performance of the economy.Macro economy didn’t even exist in it’s modern form until 1936,when Keynes publish his general theory of employment interest and in general theory of employment interest and money.At the time ,England and United States were still stuck in the great depression of the 1930s.With over one-quarter of the American labor force unemployed .In his new theory Keynes developed an analysis of what causes business cycles,with alternating spells of high unemployment and high inflation.Today macroeconomics examines a wide variety of areas,such as how total investment and consumption are determined,how central bank manage money and interest rates,What causes international financial crisis,And why some nations grow rapidly while other stagnanate.Although macroeconomics has progressed far since his first in sights,The issues addressed by Keynes still define the study of macroeconomics today.
The two braches-microeconomics and macroeconomics converge to form the core of modern economics.

Finally...

Someone explains in a mainstream newspaper that the compensation under the Australian government's proposed ETS/CPRS is highly distorting. Actually, now that the Liberals aren't going to vote for an ETS in any form why not start over and compensate simply by reducing corporation and personal income taxes across the board (which is the most efficient approach)? I guess that goes against the

Nice Antidote to All the China Bashing

Copenhagen is a bit like the blind men and the elephant. Everyone sees something different. Bernarditas de Castro Muller (on the left in the photo) writing in the Guardian blames the West and the US in particular. I blame the US too. Though of course it is the Bush administration and the Republicans in the US Congress that are more to blame than the Obama administration. I see that China and the

News Media as a Channel of Environmental Information Disclosure: Evidence from an EGARCH Approach

I am a coauthor of a new working paper that uses an event study methodology to look at the impact of bad environmental news on the stock returns of U.S. listed firms. The lead author, Ran Zhang, is one of my former students at RPI. The paper is based on a chapter of her dissertation. My role in the paper was suggesting the original topic to Ran, providing feedback at various stages, and doing a

Tuvalu is Rather New

Link to an article on the evolution of Pacific atolls. While I realised that these islands in their present form only developed after the end of the last Ice Age, I didn't realize that the stable islets on atolls have only been habitable for a thousand or so years due to a fall in sea level of about 2 metres.

Alley's AGU Lecture

Excellent lecture from the recent AGU meeting on the geology of climate change.

Climate Proposals Scoreboard Website

The Climate Interactive website translates climate policy proposals into expected climate outcomes. The video above provides some general introduction.They also compute emissions trajectories based on proposals. The resulting warming, is warming by 2100 rather than equilibrium warming. I'm guessing that the mean climate sensitivity they are using is 3C for doubling CO2. This chart shows that all

Filibuster

Paul Krugman agrees with me that the US Senate is "dysfunctional". One reason that the Australian parliament is relatively effective is that there are strict limits on how long each member can speak. Therefore, filibusters are almost impossible.

economy-ism introducing

halo this is my first blog in wich there are several economic articles.I hope this blog can help you for studying an economic lesson.there is several topic wich I try to tell& discuss in this blog as microeconomic,macroeconomics and also capital market and portopholio here.I hope this blog can be useful for you for studying economy lesson.only that i want to write and see you soon on my articles of economy next.

Is One State, One Vote the Problem?

In my opinion (subject to being changed by evidence and argument), the two main obstacles to a more meaningful outcome at COP15 were the intransigence of the US Senate and the gridlock in the UN structure in Copenhagen. In the end, the final accord was not put to a vote of the plenary but simply "noted". The objections of many of the small countries to being dictated to by the large countries who

Should You Submit Papers to Open Access Journals?

Here is an article on how to choose a journal to submit to in the field of paleontology (yes, recently I like to read blogs about dinosaur and other vertebrate paleontology). I disagree with quite a few of the points in the article. In particular, the blogger favors open access journals but then admits that anyone can pretty much get a copy of an article in the form of a pdf if they want one

Copenhagen

I don't have much to say about the Copenhagen conference at this point. Seems silly to try to analyse it from this distance. It looks to me like anything can happen at this point. What's puzzling me mostly is what the hell have the negotiators been doing for the last 2 years since Bali? They should have been more agreed on the basic framework for this meeting before getting there than it looks

Paul Samuelson

The big news today in economics is the death of Paul Samuelson. I don't have much to add to what is being said except that I am one of those first introduced to the topic via his textbook. We used it as the English textbook in the "Introductory Economics" course I took in my first year at Hebrew University of Jerusalem in 1985-6. There was also a very terse textbook in Hebrew titled "Mavo

Hanukkah

The Triumph of Judas Maccabeus: Gerrit van Honthorst, 1590-1656David Brooks write a short summary of the Hannukah story in the New York Times. Mostly he just recounts stuff that is in the books of Maccabees I and II (which are not part of the canonical Hebrew Bible but they were included as part of the first Greek translation of the Old Testament, the Septuagint). This stuff is partly

Copenhagen Circus?

Paul Frijter's take on the climate negotiations and my comment on his post:"Your blogpost shows why the new approach of the Australian Liberal Party won’t work. Taking some actions like increasing energy efficiency initiatives or renewable energy targets likely will only slow the growth of emissions in the face of the kind of things you list in the article. So we do need to save ourselves from

Two Paper Submissions this Week

We submitted two papers this week - more details when the working paper versions are up on the web. One is a resubmission (to a different journal) of my paper on between estimates of the EKC. The other is a new paper coauthored with a former student at Rensselaer, Ran Zhang, and Ken Simons an Assistant Prof. at RPI. It's a paper about corporate social responsibility based on a chapter from her

Peer Review, Berlin, 1945

The latest in the Downfall video clip meme:Like many commenters on YouTube write the captions really capture the feelings many of us have (at least now and then) when getting back peer reviews of our papers.

Copenhagen Prediction Market

CEEM at UNSW has set up a prediction market for the outcomes of COP15. It looks pretty complicated - i.e. you'd need to know a lot of details or read up on them on the site to know even what many of these markets mean. And the prizes are in the form of carbon offsets. Will be interesting to see how well it works. The current most probable outcome for the the developed nations target is a

EERH Working Paper Statistics for November 2009

The rate of abstract views and downloads for the EERH Working Papers on RePEc seems to be settling down this month. We got 180 paper downloads and 507 abstract views. The most popular paper this month in terms of downloads was the paper by Peter Wood and Frank Jotzo: "Price Floors for Emissions Trading". A paper by Evers et al.: "Economics of Ethanol Production – a brief introduction" got the

One Reason I Don't Belong to a Union

It's one thing to be forced to pay taxes to a government that does things you disagree with, but why pay fees to a union who waste some of them on political campaigns that you disagree with and are irrelevant to their members' direct interests? Of course, there are other reasons too... BTW I once did join a union as it was the best route to health insurance in the country I then lived in and I

Spash Scandal One Month On

As you may have heard, Clive Spash resigned from CSIRO and is moving back to Europe, apparently to Norway (I'm not surprised really about this)... I haven't spoken with him since the Darwin meeting. In the meantime, the issue has been debated in the Australian Senate and CSIRO have been trying to clarify their policy (see below). Dr Clark's position looks reasonable. I guess the problem is how