Originally published in 1926, ‘The Richest Man in Babylon’ is George S. Clason’s timeless classic, revealing the secrets to making money and keeping it. Clason founded two publishing companies and was the first to publish a road atlas of North America. He is best known for writing a series of pamphlets advising readers on finding financial success, which were later compiled to form this classic bestseller.This inspirational book is hailed as the greatest of books on finances. It unveils the secrets to wealth, providing priceless suggestions, advice, unforgettable parables, financial problem solving tools, and invaluable information which will get you on your way to riches. It is a must listen for all who want financial stability. It rapidly became one of the best-selling books of all time. Through a series of enlightening parables set in the heart of ancient Babylon, Clason provided his readers with economic tips and tools for financial success.The book is often referred to as a classic of personal financial advice, and appears in modern recommended reading lists on personal financial advice and wealth management, which has kept the book in print almost 90 years after its first edition with over 2 million copies sold. Acclaimed as a modern-day classic, this celebrated work is both intriguing and easy to follow. Read more

From Joshua Angrist, winner of the Nobel Prize in Economics, and Jörn-Steffen Pischke, an accessible and fun guide to the essential tools of econometric researchApplied econometrics, known to aficionados as 'metrics, is the original data science. 'Metrics encompasses the statistical methods economists use to untangle cause and effect in human affairs. Through accessible discussion and with a dose of kung fu–themed humor, Mastering 'Metrics presents the essential tools of econometric research and demonstrates why econometrics is exciting and useful.The five most valuable econometric methods, or what the authors call the Furious Five--random assignment, regression, instrumental variables, regression discontinuity designs, and differences in differences--are illustrated through well-crafted real-world examples (vetted for awesomeness by Kung Fu Panda's Jade Palace). Does health insurance make you healthier? Randomized experiments provide answers. Are expensive private colleges and selective public high schools better than more pedestrian institutions? Regression analysis and a regression discontinuity design reveal the surprising truth. When private banks teeter, and depositors take their money and run, should central banks step in to save them? Differences-in-differences analysis of a Depression-era banking crisis offers a response. Could arresting O. J. Simpson have saved his ex-wife's life? Instrumental variables methods instruct law enforcement authorities in how best to respond to domestic abuse.Wielding econometric tools with skill and confidence, Mastering 'Metrics uses data and statistics to illuminate the path from cause to effect.Shows why econometrics is importantExplains econometric research through humorous and accessible discussionOutlines empirical methods central to modern econometric practiceWorks through interesting and relevant real-world examples Read more

A nontechnical guide to the basic ideas of modern causal inference, with illustrations from health, the economy, and public policy.Which of two antiviral drugs does the most to save people infected with Ebola virus? Does a daily glass of wine prolong or shorten life? Does winning the lottery make you more or less likely to go bankrupt? How do you identify genes that cause disease? Do unions raise wages? Do some antibiotics have lethal side effects? Does the Earned Income Tax Credit help people enter the workforce? Causal Inference provides a brief and nontechnical introduction to randomized experiments, propensity scores, natural experiments, instrumental variables, sensitivity analysis, and quasi-experimental devices. Ideas are illustrated with examples from medicine, epidemiology, economics and business, the social sciences, and public policy. Read more

An accessible, contemporary introduction to the methods for determining cause and effect in the social sciences  “Causation versus correlation has been the basis of arguments—economic and otherwise—since the beginning of time. Causal Inference: The Mixtape uses legit real-world examples that I found genuinely thought-provoking. It’s rare that a book prompts readers to expand their outlook; this one did for me.”—Marvin Young (Young MC) Causal inference encompasses the tools that allow social scientists to determine what causes what. In a messy world, causal inference is what helps establish the causes and effects of the actions being studied—for example, the impact (or lack thereof) of increases in the minimum wage on employment, the effects of early childhood education on incarceration later in life, or the influence on economic growth of introducing malaria nets in developing regions. Scott Cunningham introduces students and practitioners to the methods necessary to arrive at meaningful answers to the questions of causation, using a range of modeling techniques and coding instructions for both the R and the Stata programming languages. Read more

Usually called Forex or FX trading, forex trade is the global business hub for trading governmental monetary policies. With daily trading volume exceeding billions of dollars, this is the largest and most erratic financial market available on Earth. With global exchange, speculation, and monetary dependability, forex trading takes the stage in the global economy. Because of its dispersed character, the Forex market opens five days a week, five hours daily. Unlike stock exchanges with clear physical regions, Forex trading occurs over-the-counter (OTC) over a global network of banks, financial institutions, and independent businesses. Given persistent trade throughout several time zones, the market is split into main monetary concentrations like London, New York, Tokyo, and Sydney. Forex trading is the trading of currency equivalents, wherein one money is exchanged for another. The most usually traded pairs include USD/JPY (US Dollar/Japanese Yen), GBP/USD (English Pound/US Dollar), and EUR/USD (Euro/US Dollar). Different elements affect money values; for example, financial knowledge, worldwide events, lending rates, and market sentiment. Brokers look at these factors to construct theories on value changes and produce benefits. Read more

Beloved by millions, this timeless classic holds the key to all you desire and everything you wish to accomplish. This is the book that reveals the secret to personal wealth. Countless readers have been helped by the famous “Babylonian parables,” hailed as the greatest of all inspirational works on the subject of thrift, financial planning, and personal wealth. In language as simple as that found in the Bible, these fascinating and informative stories set you on a sure path to prosperity and its accompanying joys. Acclaimed as a modern-day classic, this celebrated bestseller offers an understanding of — and a solution to — your personal financial problems that will guide you through a lifetime. This is the book that holds the secrets to keeping your money — and making more. The Richest Man in Babylon: Read it and recommend it to loved ones—and get on the road to riches.George S. Clason was born in Louisiana, Missouri, on November 7, 1874. He attended the University of Nebraska and served in the United States Army during the Spanish- American War. Beginning a long career in publishing, he founded the Clason Map Company of Denver, Colorado, and published the first road atlas of the United States and Canada. In 1926, he issued the first of a famous series of pamphlets on thrift and financial success, using parables set in ancient Babylon to make each of his points. These were distributed in large quantities by banks and insurance companies and became familiar to millions, the most famous being "The Richest Man in Babylon," the parable from which the present volume takes its title. Read more

The Effect: An Introduction to Research Design and Causality is about research design, specifically concerning research that uses observational data to make a causal inference. It is separated into two halves, each with different approaches to that subject. The first half goes through the concepts of causality, with very little in the way of estimation. It introduces the concept of identification thoroughly and clearly and discusses it as a process of trying to isolate variation that has a causal interpretation. Subjects include heavy emphasis on data-generating processes and causal diagrams.Concepts are demonstrated with a heavy emphasis on graphical intuition and the question of what we do to data. When we “add a control variable” what does that actually do?Key Features: • Extensive code examples in R, Stata, and Python• Chapters on overlooked topics in econometrics classes: heterogeneous treatment effects, simulation and power analysis, new cutting-edge methods, and uncomfortable ignored assumptions• An easy-to-read conversational tone• Up-to-date coverage of methods with fast-moving literatures like difference-in-differences Read more

From Joshua Angrist, winner of the Nobel Prize in Economics, and Jörn-Steffen Pischke, an irreverent guide to the essentials of econometricsThe core methods in today's econometric toolkit are linear regression for statistical control, instrumental variables methods for the analysis of natural experiments, and differences-in-differences methods that exploit policy changes. In the modern experimentalist paradigm, these techniques address clear causal questions such as: Do smaller classes increase learning? Should wife batterers be arrested? How much does education raise wages? Mostly Harmless Econometrics shows how the basic tools of applied econometrics allow the data to speak.In addition to econometric essentials, Mostly Harmless Econometrics covers important new extensions―regression-discontinuity designs and quantile regression―as well as how to get standard errors right. Joshua Angrist and Jörn-Steffen Pischke explain why fancier econometric techniques are typically unnecessary and even dangerous. The applied econometric methods emphasized in this book are easy to use and relevant for many areas of contemporary social science.An irreverent review of econometric essentialsA focus on tools that applied researchers use mostChapters on regression-discontinuity designs, quantile regression, and standard errorsMany empirical examplesA clear and concise resource with wide applications Read more

Why do we use eighty-year-old metrics to understand today’s economy?The ways that statisticians and governments measure the economy were developed in the 1940s, when the urgent economic problems were entirely different from those of today. In The Measure of Progress, Diane Coyle argues that the framework underpinning today’s economic statistics is so outdated that it functions as a distorting lens, or even a set of blinkers. When policymakers rely on such an antiquated conceptual tool, how can they measure, understand, and respond with any precision to what is happening in today’s digital economy? Coyle makes the case for a new framework, one that takes into consideration current economic realities.Coyle explains why economic statistics matter. They are essential for guiding better economic policies; they involve questions of freedom, justice, life, and death. Governments use statistics that affect people’s lives in ways large and small. The metrics for economic growth were developed when a lack of physical rather than natural capital was the binding constraint on growth, intangible value was less important, and the pressing economic policy challenge was managing demand rather than supply. Today’s challenges are different. Growth in living standards in rich economies has slowed, despite remarkable innovation, particularly in digital technologies. As a result, politics is contentious and democracy strained.Coyle argues that to understand the current economy, we need different data collected in a different framework of categories and definitions, and she offers some suggestions about what this would entail. Only with a new approach to measurement will we be able to achieve the right kind of growth for the benefit of all. Read more

This text provides an advanced introduction to the modeling of competitive financial markets, encompassing arbitrage and equilibrium pricing of financial contracts, as well as optimal lifetime consumption and portfolio choice. Notable features include its coverage of recursive utility in discrete and continuous time and several results not previously available in book form. Each chapter concludes with a set of exercises, with solutions available to verified instructors. Ideal as a graduate-level course text, this book can also serve as a valuable reference for researchers and finance industry practitioners. Readers with a finance focus can use the text to build analytical foundations for a significant component of the economics of financial markets, while readers with a mathematics focus will find a well-motivated introduction to basic tools of stochastic analysis and convex analysis. Read more

The first real introductory text in derivatives. Written by Robert Jarrow, one of the true titans of finance, and his former student Arkadev Chatterjea, Introduction to Derivatives is the first text developed from the ground up for students taking the introductory derivatives course. The math is presented at the right level and is always motivated by what’s happening in the financial markets. And, as one of the developers of the Heath-Jarrow-Morton Model, Robert Jarrow presents a novel, accessible way to understand this important topic. Read more

With over one million copies sold, The Undercover Economist has been hailed worldwide as a fantastic guide to the fundamental principles of economics. An economist's version of The Way Things Work, this engaging volume is part Economics 101 and part exposé of the economic principles lurking behind daily events, explaining everything from traffic jams to high coffee prices. New to this edition: This revised edition, newly updated to consider the banking crisis and economic turbulence of the last four years, is essential for anyone who has wondered why the gap between rich and poor nations is so great, or why they can't seem to find a decent second-hand car, or how to outwit Starbucks. Senior columnist for the Financial Times Tim Harford brings his experience and insight as he ranges from Africa, Asia, Europe, and the United States to reveal how supermarkets, airlines, and coffee chains--to name just a few--are vacuuming money from our wallets. Harford punctures the myths surrounding some of today's biggest controversies, including the high cost of health-care; he reveals why certain environmental laws can put a smile on a landlord's face; and he explains why some industries can have high profits for innocent reasons, while in other industries something sinister is going on. Covering an array of economic concepts including scarce resources, market power, efficiency, price gouging, market failure, inside information, and game theory, Harford sheds light on how these forces shape our day-to-day lives, often without our knowing it. Showing us the world through the eyes of an economist, Tim Harford reveals that everyday events are intricate games of negotiations, contests of strength, and battles of wits. Written with a light touch and sly wit, The Undercover Economist turns "the dismal science" into a true delight. Read more

From the late nineties, the spectacular growth of a secondary market for credit through derivatives has been matched by the emergence of mathematical modeling analysing the credit risk embedded in these contracts. This book aims to provide a broad and deep overview of this modeling, covering statistical analysis and techniques, modeling of default of both single and multiple entities, counterparty risk, Gaussian and non-Gaussian modeling, and securitization. Both reduced-form and firm-value models for the default of single entities are considered in detail, with extensive discussion of both their theoretical underpinnings and practical usage in pricing and risk. For multiple entity modeling, the now notorious Gaussian copula is discussed with analysis of its shortcomings, as well as a wide range of alternative approaches including multivariate extensions to both firm-value and reduced form models, and continuous-time Markov chains. One important case of multiple entities modeling--counterparty risk in credit derivatives--is further explored in two dedicated chapters. Alternative non-Gaussian approaches to modelling are also discussed, including extreme-value theory and saddle-point approximations to deal with tail risk. Finally, the recent growth in securitization is covered, including house price modeling and pricing models for asset-backed CDOs.The current credit crisis has brought modeling of the previously arcane credit markets into the public arena. Lipton and Rennie with their excellent team of contributors, provide a timely discussion of the mathematical modeling that underpins both credit derivatives and securitization. Though technical in nature, the pros and cons of various approaches attempt to provide a balanced view of the role that mathematical modeling plays in the modern credit markets. This Handbook will appeal to students and researchers in statistics, economics, and finance, as well as practicioners, credit traders, and quantitative analysts. Read more

INSTANT NEW YORK TIMES BESTSELLER 'For anyone interested in becoming a better manager' - Bill Gates -------- Discover the revolutionary movement behind the explosive growth of Intel, Google, Amazon and Uber. In 1999, legendary venture capitalist John Doerr invested nearly $12 million in a small 40-person startup that had amazing technology, entrepreneurial energy and sky-high ambitions, but no real business plan. Doerr introduced the founders to his system of Objectives and Key Results (OKRs) and, with those principles at the foundation of their management, the startup grew at an exponential rate. Today, that same startup - Google - has more than 70,000 employees with a market cap exceeding $600 billion. Doerr has introduced OKRs to more than fifty companies, helping tech giants and charities exceed all expectations. In the OKR model, objectives define what we seek to achieve and key results are how those top­ priority goals will be attained. They focus effort, foster coordination and enhance workplace satisfaction. For the first time in Measure What Matters, Doerr shares a broad range of first-person, behind-the-scenes case studies, with narrators including Bono and Bill Gates, to demonstrate the agility and explosive growth that OKRs have spurred at so many great organizations.With a foreword by Larry Page, and contributions from Bono and Bill Gates, this book will show you how to collect timely, relevant data to track progress - to measure what matters. It will help any organization or team aim high, move fast, and excel. -------- 'Management magic....Measure What Matters is a must read for anyone motivated to improve their organization' - Former Vice President Al Gore, chairman of the Climate Reality Project'Measure What Matters shows how any organization or team can aim high, move fast, and excel' - Sheryl Sandberg, Facebook COO'Measure What Matters deserves to be fully embraced by every person responsible for performance in any walk of life' - Jim Collins, author of Good to Great--------***SPEED & SCALE - THE NEW ENVIRONMENTAL GUIDE TO SAVE THE PLANET FROM BESTSELLING AUTHOR AND VENTURE CAPITALIST JOHN DOERR - NOW AVAILABLE*** Read more

Ah, lo que daríamos por tener la máquina del tiempo para espiar un rato el futuro… ¿O no? Seguro nos interesaría saber con exactitud si va a granizar esta tarde, pero ¿querríamos conocer el resultado de la final del Mundial antes de que se juegue? Entre la certeza imposible y la incertidumbre total están los pronósticos, lo más cerca que la humanidad alcanzó a viajar hacia lo que vendrá. Como muestra este libro, pronosticar tiene mucho de ciencia, bastante de arte, cantidades de información y estadística, pizcas de intuición y mucha, pero mucha, tolerancia al azar.    Las predicciones te rodean, aunque no te des cuenta: cuando pedís un crédito, cuando no podés subir a un vuelo con pasajes sobrevendidos, cuando tenés una cita con alguien que conociste en Tinder, cuando te preparás para patear un penal o estás en el arco esperando para atajarlo, cuando analizás las acciones de una empresa pensando en tus ahorros, cuando contestás una encuesta o mirás una antes de decidir tu voto, cuando te preguntás si lo que estudiaste te va a alcanzar para aprobar un examen.    En estas páginas, de prosa amigable y entretenida, Walter Sosa Escudero explora junto con sus lectores la trastienda del azar, las decisiones estratégicas, la complejidad y el papel de la inteligencia artificial (spoiler: ni el Apocalipsis ni una moda pasajera). También contempla la necesidad de aceptar que hay eventos que son, por naturaleza, impredecibles.    No conocemos el futuro pero, en muchos campos, estamos bastante cerca de verlo venir. A excepción de esos gurúes que siempre lo tienen clarísimo… con el diario de mañana.  Read more

The remarkable evolution of econophysics research has brought the deep synthesis of ideas derived from economics and physics to subjects as diverse as education, banking, finance, and the administration of large institutions. The original papers in this collection present a broad summary of these advances, written by interdisciplinary specialists. Included are studies on subjects in the development of econophysics; on the perspectives offered by econophysics on large problems in economics and finance, including the 2008-9 financial crisis; and on higher education and group decision making. The introductions and insights they provide will benefit everyone interested in applications of this new transdisciplinary science.- Ten papers present an updated version of the origins, issues, and applications of econophysics- Economics and finance chapters consider lessons learned from the 2008-9 financial crisis- Sociophysics chapters propose new thinking on educational reforms and group decision making Read more

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"Mesmerizing & fascinating..." —The Seattle Post-Intelligencer"The Freakonomics of big data." —Stein Kretsinger, founding executive of Advertising.comAward-winning | Used by over 30 universities | Translated into 9 languagesAn introduction for everyone. In this rich, fascinating — surprisingly accessible — introduction, leading expert Eric Siegel reveals how predictive analytics (aka machine learning) works, and how it affects everyone every day. Rather than a “how to” for hands-on techies, the book serves lay readers and experts alike by covering new case studies and the latest state-of-the-art techniques.Prediction is booming. It reinvents industries and runs the world. Companies, governments, law enforcement, hospitals, and universities are seizing upon the power. These institutions predict whether you're going to click, buy, lie, or die. Why? For good reason: predicting human behavior combats risk, boosts sales, fortifies healthcare, streamlines manufacturing, conquers spam, optimizes social networks, toughens crime fighting, and wins elections. How? Prediction is powered by the world's most potent, flourishing unnatural resource: data. Accumulated in large part as the by-product of routine tasks, data is the unsalted, flavorless residue deposited en masse as organizations churn away. Surprise! This heap of refuse is a gold mine. Big data embodies an extraordinary wealth of experience from which to learn.Predictive analytics(aka machine learning) unleashes the power of data. With this technology, the computer literally learns from data how to predict the future behavior of individuals. Perfect prediction is not possible, but putting odds on the future drives millions of decisions more effectively, determining whom to call, mail, investigate, incarcerate, set up on a date, or medicate. In this lucid, captivating introduction — now in its Revised and Updated edition — former Columbia University professor and Predictive Analytics World founder Eric Siegel reveals the power and perils of prediction:What type of mortgage risk Chase Bank predicted before the recession.Predicting which people will drop out of school, cancel a subscription, or get divorced before they even know it themselves.Why early retirement predicts a shorter life expectancy and vegetarians miss fewer flights.Five reasons why organizations predict death — including one health insurance company.How U.S. Bank and Obama for America calculated the way to most strongly persuade each individual.Why the NSA wants all your data: machine learning supercomputers to fight terrorism.How IBM's Watson computer used predictive modeling to answer questions and beat the human champs on TV's Jeopardy!How companies ascertain untold, private truths — how Target figures out you're pregnant and Hewlett-Packard deduces you're about to quit your job.How judges and parole boards rely on crime-predicting computers to decide how long convicts remain in prison.182 examples from Airbnb, the BBC, Citibank, ConEd, Facebook, Ford, Google, the IRS, LinkedIn, Match.com, MTV, Netflix, PayPal, Pfizer, Spotify, Uber, UPS, Wikipedia, and more. How does predictive analytics work? This jam-packed book satisfies by demystifying the intriguing science under the hood. For future hands-on practitioners pursuing a career in the field, it sets a strong foundation, delivers the prerequisite knowledge, and whets your appetite for more.A truly omnipresent science, predictive analytics constantly affects our daily lives. Whether you are a consumer of it — or consumed by it — get a handle on the power of Predictive Analytics. Read more

An engaging and practical introduction to econometrics, Real Econometrics: The Right Tools to Answer Important Questions, offers thorough coverage of the most frequently used methods of analysis. Grounded in contemporary understandings of causal inference, the text invites students to extract meaningful information about important economic policy issues from available data. Bailey's emphasis on practical applications, combined with a lively and conversational narrative and a diverse array of examples and case studies, provides students with a solid foundation in the analytical tools they will use throughout their academic and professional careers. The second edition includes new conceptual exercises, revised appendices, and additional code and guidance for R software. Read more

This Solutions Manual contains answers to most of the problems in General Equilibrium, Overlapping Generations Models, and Optimal Growth Theory. Truman F. Bewley’s indispensable textbook―a cornerstone of courses on microeconomics, general equilibrium theory, and mathematical economics―covers the main premises behind insurance, capital theory, growth theory, and social security. Detailed explanations provide guidance to advanced undergraduate and graduate students, leading to in-depth understanding of Bewley’s unified approach to macroeconomics theory. Read more