In a somewhat simplified analysis of the economy, the economic system can be broken down into two main parts: on one side the enterprise 'operators', producing goods and services, providing employment and distributing income in the form of wages; on the other the household operators, receiving income and consuming goods and services. The other operators in the economic system are the genera…
Many people believe that excessive risk taking at large financial firms was an important cause of the financial crisis of 2007–2008 and that preventing another crisis requires improving risk-management systems at such institutions. One way to do this would be to use board oversight liability to hold directors personally liable for failing to properly monitor the risks that their firms are run…
Human Resource Management (HRM) is a relatively new approach to managing people in any organisation. People are considered the key resource in this approach. it is concerned with the people dimension in management of an organisation. Since an organisation is a body of people, their acquisition, development of skills, motivation for higher levels of attainments, as well as ensuring maintenance o…
This guide, and the tools and templates available from www.disasterresilience.comwill support your planning processes and strengthen your resilience. Using familiar software (Microsoft Word, Access,Excel and PowerPoint), we focus on quality processes within a risk management framework. These approaches serve as best practice models. They should not be used as "templates for duplication"with glo…
Trading in derivatives involves heavy use of quantitative models for valuation and risk management. These models are necessarily imperfect, and when options are involved, the models require a volatility input that must be forecasted, subject to error. This creates “model risk” to which nearly all participants in derivatives markets are exposed. In this paper, we conduct an empirical sim…
One of the most important human activities is managing. Ever since people began forming groups to accomplish aims they could not achieve as individuals, managing has been essential to ensure the coordination of individual efforts. As society has come to rely increasingly on group effort and as many organized groups have grown larger, the task of mangers has been in importance. The purpose of th…
The purpose of STATISTICS FOR BUSINESS AND ECONOMICS is to give students, pri- marily those in the fields of business administration and economics, a conceptual introduc- tion to the field of statistics and its many applications. The text is applications oriented and written with the needs of the nonmathematician in mind; the mathematical prerequisite is knowledge of algebra. Applications of da…
I began business life as an entrepreneur in business in Hong Kong. I ran trade exhibitions, imported coffee from Kenya, and started and operated two restaurants, one of which (unusually for Hong Kong) served vegetarian food. These businesses were profitable, but I would have saved myself a great deal of stress, and done better if I had used some business intelligence informed by statistics to i…
This subject guide is about human resource management (HRM). This is the management activity taken by commercial firms, state owned enterprises and other organisations to recruit, retain and motivate their employees. In other words HRM is the bundle of policies, programmes and plans which organisations adopt with the objective of making full use of the people they employ. These includ…
Database Management System (DBSM) are an intetgrated and crucial component of most successful GIS. DBMS are used to store, manipulate and retrieve data from a database. A key element in creating a spatial database design using a variety of data modelling techniques. Although the range of DBMS structures used in GIS includes inverted list, hierarchical, network and relational designs, it is the…
The Econometric Study and Model to Estimate Land Prices undertaken by an external contractor on behalf of Eurostat showed that a separation of the land price part from the structure part was not feasible from the data at hand. Notwithstanding the traditional partition to land and structure becomes less clear depending on the allocation of the location variables. More conceptual work and a furth…
The earth faces a future of rising populations and growing strains on the planet . Whatever else the future holds, significant population increase is inevitable and the current UN forecast of 9 .2 billion by 2050 – itself a 40 per cent increase on the 6 .7 billion in 2007 – may turn out to be an underestimate . The environmental damage resulting from population increase is already widesprea…
The earth faces a future of rising populations and growing strains on the planet . Whatever else the future holds, significant population increase is inevitable and the current UN forecast of 9 .2 billion by 2050 – itself a 40 per cent increase on the 6 .7 billion in 2007 – may turn out to be an underestimate . The environmental damage resulting from population increase is already widesprea…
According to the latest revisions1, the EU272 external current account3 recorded a deficit of 17.2 billion euro in the third quarter of 2007, compared with a deficit of 24.6 bn in the third quarter of 2006 and a deficit of 16.3 bn in the second quarter of 2007. In the third quarter of 2007, compared with the third quarter of 2006, a lower deficit was recorded in the goods account (-41.5 bn eu…
In the second quarter of 2009, compared with the second quarter of 2008, the deficit of the goods account decreased (-17.2 bn euro compared with -47.5 bn), as did the deficit of the income account (-37.4 bn compared with -40.8 bn). The surplus of the services account diminished (+17.5 bn compared with +22.6 bn) and the deficit of the current transfers account increased (-12.1 bn compared with -…
According to the latest revisions1, the EU272 external current account3 recorded a deficit of 9.2 billion euro in the fourth quarter of 2009, compared with a deficit of 54.8 bn in the fourth quarter of 2008 and a deficit of 23.1 bn in the third quarter of 2009.
According to the latest revisions1, the EU272 external current account3 recorded a deficit of 57.3 billion euro in the fourth quarter of 2008, compared with a deficit of 21.6 bn in the fourth quarter of 2007 and a deficit of 67.4 bn in the third quarter of 2008.