Interest Rate Models - Theory and Practice: With Smile, Inflation and Credit (Springer Finance)
Average customer rating: 5 out of 5 stars
  • Best book on interest rate models
  • The best book I have read on the subject
  • New stuff and nice overview: hard to beat!
  • Nicely written overview of interest rate models
  • Well written and useful book
Interest Rate Models - Theory and Practice: With Smile, Inflation and Credit (Springer Finance)
Damiano Brigo , and Fabio Mercurio
Manufacturer: Springer
ProductGroup: Book
Binding: Hardcover

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Accessories:
  1. Mathematics for Finance: An Introduction to Financial Engineering (Springer Undergraduate Mathematics Series) Mathematics for Finance: An Introduction to Financial Engineering (Springer Undergraduate Mathematics Series)
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ASIN: 3540221492

Book Description

The 2nd edition of this successful book has several new features. The calibration discussion of the basic LIBOR market model has been enriched considerably, with an analysis of the impact of the swaptions interpolation technique and of the exogenous instantaneous correlation on the calibration outputs. A discussion of historical estimation of the instantaneous correlation matrix and of rank reduction has been added, and a LIBOR-model consistent swaption-volatility interpolation technique has been introduced.

The old sections devoted to the smile issue in the LIBOR market model have been enlarged into several new chapters. New sections on local-volatility dynamics, and on stochastic volatility models have been added, with a thorough treatment of the recently developed uncertain-volatility approach. Examples of calibrations to real market data are now considered.

The fast-growing interest for hybrid products has led to new chapters. A special focus here is devoted to the pricing of inflation-linked derivatives.

The three final new chapters of this second edition are devoted to credit. Since Credit Derivatives are increasingly fundamental, and since in the reduced-form modeling framework much of the technique involved is analogous to interest-rate modeling, Credit Derivatives -- mostly Credit Default Swaps (CDS), CDS Options and Constant Maturity CDS - are discussed, building on the basic short rate-models and market models introduced earlier for the default-free market. Counterparty risk in interest rate payoff valuation is also considered, motivated by the recent Basel II framework developments.

Customer Reviews:

5 out of 5 stars Best book on interest rate models.......2002-12-14

This is the best book available on interest rate models. Very detailed. Much more focused and readable than Rebonato's book. More pragmatic and explicit than Musiela and Rutkowski. Not as theoretical as Hunt and Kennedy. James and Webber also looks very good, but I'm not that familiar with it. All other books have only bits and pieces on interest rates.

5 out of 5 stars The best book I have read on the subject.......2002-05-06

With all the due respect to the other authors I would say that if one is interested in a good theoretical book whihc is also good on the implementation side then the book of Brigo and Mercurion is definetly the best book I have ever read on the subject.

Anyone interested in implementing the LMM/BGM/MSS model in practice is well advised to read it.

I would just say that this is certainly a must have in the field.

5 out of 5 stars New stuff and nice overview: hard to beat!.......2002-01-17

In the late nineties I went through Brigo's innovative work on stochastic nonlinear filtering with differential geometry techniques. I was favorably impressed by results and style, particularly in his dissertation and in his 'geometry in present day science' very readable overview. Interesting results are found and nicely told with accurate - but not pointlessly complicated - advanced mathematics for the problems at hand, I reasoned.

I've followed a similar path from control to finance, and having worked with interest rate models, I couldn't help but order this Brigo-Mercurio book. I had high expectations 'cause these two guys are working in a bank on the real thing.

Sure enough I'm not disappointed.

1-factor models are handled with great care, a ton of formulas and recipes are given. I've never seen this kind of analysis of pricing with Gaussian 1-f models. The new upgrade of the CIR model is interesting and accurate. "CIR++" is now my favorite 1-f model. I like the treatment of lognormal 1-f models and the explanation of Monte Carlo and trees -- the flow-chart for Bermudan swaptions is crystal clear! Plots of market implied structures and volatility calibration are useful additions.

The chapter on 2-f extensions has one of the best discussions on volatility, and two tons of useful formulas/recipes. Two dimensional trees!

The HJM chapter size is OK. I agree - the useful models embedded in HJM are short rate models and market models.

Market models - these three chapters alone are worth the book. You'll find yourself nodding as you read the guided tour. They make it look easy all the time. The exposition is focused, clear, intuitive, detailed. There's also new stuff, just check the calibration discussion! Smile modeling begins with a brilliant tour and ends with Brigo-Mercurio's new approach - the mixing dynamics - deserving a whole chapter if expanded.

The detailed explanation on products is a much welcome original addition. Cross currency derivatives!

Quotes - as in Brigo's old work - are a pleasant diversion while reading. The 500 and more pages are a treat given the competitive price.

Still there's room for improvements - more "CIR2++"! Something on 3-f models. Historical estimation of the correlation matrix and low-rank optimized approximations. Expand smile modeling! More hedging. Something on structured products. Cross currency libor model. chapter 9 - other interest rate models - sounds out of place and can be suppressed for other things.

This book rings true and has useful teachings for students, academics and practitioners. Although it requires some background in stochastic calculus, it's hard to beat on the pricing front. Kudos to Brigo and Mercurio! It only harms there aren't enough books like this.

4 out of 5 stars Nicely written overview of interest rate models.......2001-12-15

This recent book, written by two Italian "quants" Mercurio & Brigo, gives a nice and accessible overview of interest rate models which is a compromise between the practitioner viewpoint, expressed for ex. in Rebonato's book "Interet Rate option models"
and the theoretical viewpoint such as the one in Musiela & Rutkowski.
The authors, themselves PhDs in quantitative finance/ applied maths, wrote this book while working as quants in an Italian bank and this first hand contact with the market gave them a
practical view on the subject which markes this book very interesting.

The book contains a "rational" catalogue of models used in practice ( as opposed to models which are impossible to implement!).

In contrast with academic books on interest rate modeling which deal with HJM formulation, there is a lot of emphasis here on LIBOR and Swap market models
(BGM -Jamshidian models) which reflects the current market practice. This is a positive point since there are not many books with details on implementing and using these "market models".

Part II: Interest rate models in practice is particularly useful because it deals with implementation and calibration which, as any practitioner knows, are important and usually delicate issues.
However calibration issues are dealt with somewhat lightly, especially recent developments on modeling cap/swaption smiles
are not included here.

This book can also be used for a graduate level/PhD course on interest rate models.

There are a lot of numerical examples in the book and mathematics is kept to the necessary level while keeping the
approach both rigorous and understandable.

Overall, it is one of the best books written on the subject.
I highly recommend it to PhD students, quants and researchers interested in this field.

5 out of 5 stars Well written and useful book.......2001-11-04

In my humble opinion, this is the best book on Interest Rate modeling out there. The writing style is clear and focused and the appendices are fantastic. The book is rigorous but someone with some background in Stochastic Calculus will find it easy to follow. If you need refresher, dont worry the authors have you covered, see the appendix on Stochastic Calculus. Not an introductory book. Very exciting book.
Brain Lock: Free Yourself from Obsessive-Compulsive Behavior
Average customer rating: 4.5 out of 5 stars
  • Highly conceptual but treatment is very misleading
  • Good but recommended by nephew's therapist
  • How do I help?
  • Great OCD Book
  • decent
Brain Lock: Free Yourself from Obsessive-Compulsive Behavior
Jeffrey M. Schwartz
Manufacturer: Harper Perennial
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ASIN: 0060987111

Book Description

An estimated 5 million Americans suffer from obsessive-compulsive disorder (OCD) and live diminished lives in which they are compelled to obsess about something or to repeat a similar task over and over. Traditionally, OCD has been treated with Prozac or similar drugs. The problem with medication, aside from its cost, is that 30 percent of people treated don't respond to it, and when the pills stop, the symptoms invariably return.

In Brain Lock, Jeffrey M. Schwartz presents a simple four-step method for overcoming OCD that is so effective, it's now used in academic treatment centers throughout the world. Proven by brain-imaging tests to actually alter the brain's chemistry, this method doesn't rely on psychopharmaceuticals. Instead, patients use cognitive self-therapy and behavior modification to develop new patterns of response to their obsessions. In essence, they use the mind to fix the brain. Using the real-life stories of actual patients, Brain Lock explains this revolutionary method and provides readers with the inspiration and tools to free themselves from their psychic prisons and regain control of their lives.

Customer Reviews:

2 out of 5 stars Highly conceptual but treatment is very misleading.......2007-09-10

The author is Psychiatrist who has great insight into dynamics of OCD. He explains in great detail about biological aspect of OCD. He accurately points out that brain signals are hoax and ignoring them is way to overcome OCD. He proposes 4 steps to do this which are based on Buddhist mindfulness. This is where the treatment is erroneous. Although most people know that OCD signals are irrational, at the peak time of OCD ritualization, the suffer can't distinguish between what is real or not. Reassuring the brain that the signal is wrong and should be ignored actually re-inforces OCD brain. The recovery comes when one accepts that the signal is valid yet refuse to do the compulsion. (Eg- Yes the door may not be locked and house will be stolen tonight but I won't check the door).
It seems schwartz treatment aspect is misleading although he may be good intentioned. He seems to have gained popularity by being a consultant to 'Aviator' movie. Again this is due to his brilliant insight into nature of disorder not the treatment aspect of it.
The best technique to overcome OCD is ERP using behavioural approach. Mindfulness works for mild OCD cases and in maintenance phases.

4 out of 5 stars Good but recommended by nephew's therapist.......2007-08-24

As with a review I wrote for a purchase for my OCD nephew, I am told by my sister (his mom) that this is helping with his therapy sessions.

4 out of 5 stars How do I help?.......2007-08-05

My husband read this book a year ago and found it helpful for understanding a dear relative. I'm reading the book now and found there are many insights into OCD. As well as understanding other people, I'm finding out a little about myself and how to balance out some of my own behaviors. The book is based on the behavior therapy used by professionals with adults at UCLA. There are some wonderful success stories as well as accounts of people who had extreme compulsions/obsessions. Definitely a readable classic on the subject for any layman.

5 out of 5 stars Great OCD Book.......2007-01-20

Recommended by a doctor--has helped a family member tremendously. Highly recommend it for all types of OCD.

4 out of 5 stars decent.......2007-01-10

The steps outlined by Schwartz are highly useful. This is not a clinical book, but certainly one with great value to the general populace.
The Structural Transformation of the Public Sphere: An Inquiry into a Category of Bourgeois Society (Studies in Contemporary German Social Thought)
Average customer rating: 4 out of 5 stars
  • Indispensable for Understanding Contemporary Culture
  • Habermas: The Public in History
  • One of the most influential studies on the subject
  • The Structural Transformation of the Public Sphere
  • Habermas puts me to sleep
The Structural Transformation of the Public Sphere: An Inquiry into a Category of Bourgeois Society (Studies in Contemporary German Social Thought)
Jürgen Habermas
Manufacturer: The MIT Press
ProductGroup: Book
Binding: Paperback

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ASIN: 0262581086

Book Description

This is Jurgen Habermas's most concrete historical-sociological book and one of the key contributions to political thought in the postwar period. It will be a revelation to those who have known Habermas only through his theoretical writing to find his later interests in problems of legitimation and communication foreshadowed in this lucid study of the origins, nature, and evolution of public opinion in democratic societies.

Customer Reviews:

5 out of 5 stars Indispensable for Understanding Contemporary Culture.......2007-08-10

Okay, perhaps I've got the social-theory-geek gene, but when I first read this book some fourteen years ago (during grad school), I was able finally to put together a lot of things that had been swimming around in my brain. I'd already read a good bit of Adorno before a professor (with whom I was doing an independent study on Adorno) recommended that I read this. Habermas's historical analysis was so compelling that I simply couldn't put the book down. Moreover (all this may seem hard to believe), the lucidity of his presentation also helped me put a lot of what was going on in Adorno's writings in a clearer light.

While I don't agree with the directions in which Habermas later went--I strongly resist the notion of recuperating the modern project--this book provides a compelling analysis of how Western society and culture got to where it is now.

4 out of 5 stars Habermas: The Public in History.......2005-09-17

In this monograph, Habermas tracks the origination, the evolution, and the dispersal of an informed "public sphere" among democratic Western nations. He defines public sphere as "private people com[ing] together as a public" (27). Once these individuals, gathered as reading groups or as aficionados of theatre, the arts, and politics, the individuals melded into a public capable of debating the government. Habermas locates these fledgling "publics" primarily in eighteenth-century France, England and to a lesser extent in the areas of Europe designated as German. Tellingly, Habermas strongly links the formation of the public sphere with the rise of capitalism and a continuing bourgeois revolution. Comprised of literate individuals governed by the principals of the Enlightenment, these "publics" eventually challenged the validity and legitimacy of governments, most notably in France during the French Revolution and England during the English Civil War.

Habermas builds a compelling argument based upon his interpretation of Rousseau, Kant, Locke, Hegel, and Marx. He links the works of these philosophers and sociologists in a credible chain stretching back to the eighteenth century. However, he only deals thoroughly with the educated, propertied elite of society. Habermas views the "unpropertied" and illiterate as a separate from and incapable of participating in a true public sphere. To do this he must dismiss a plethora of lower class uprisings found throughout the seventeenth, eighteenth, and nineteenth centuries. Even when the various governments quickly quashed these rebellions, the Ludites in England and the various rebellions of 1848 come to mind, it is difficult to dispute the effect these rebels and rebellions had upon the public discourse. As an early work on the subject, it is almost certain that Habermas had to amend his arguments following E.P. Thompson's The Making of the English Working Class, published in 1963 a scant year after this work. His exclusion of the great press of society from a functioning public sphere seems arrogant at best and naïve at worst.

5 out of 5 stars One of the most influential studies on the subject.......2004-11-01

Habermas' work, though written more than four decades ago, still retains most of its original relevance for the study of the public sphere. If you are interested in this subject, and if you are into critical thinking, then this book is certainly worth reading. Why? Well, if you take in consideration the fact that no other book has been written so far on the subject that has been able to surpass Habermas' account both in depth and originality, then you begin to get my point. As to a critical reading of the argument put forth by Habermas, one should read "Habermas and the Public Sphere", edited by Craig Calhoun. This book includes an appendix by Habermas where he revises some of his original positions.

4 out of 5 stars The Structural Transformation of the Public Sphere.......2002-04-04

When you talk about the public sphere in front of intellectuals, Jürgen Habermas's name is bound to come up. Habermas's 1962 study, "The Structural Transformation of the Public Sphere," examines the creation, brief flourishing, and demise of a public sphere based in rational-critical debate and discussion. The feasibility of a true public sphere, which is inclusive of anyone who would participate, is for Habermas of utmost importance. Habermas follows a methodology similar to the one Michel Foucault takes in "Discipline and Punish," which analyzes the abolition of public displays of power, and the process by which the structures of power are inculcated in the individual from the 17th through the 20th centuries. Habermas analyzes historical, economic, and political conditions from classical antiquity through his own historical moment, tracing the circumstances in which the public sphere arises, how it functions, and ceases to function over time.

Habermas begins with a delineation of the terms 'public' and 'private,' orienting them philologically from their roots and meanings in classical antiquity. From here, he traces the adoption of the words and their synonyms into the European Middle Ages and the era of feudalism. Habermas says that in this period, the feudal lord and the monarch, for whom `representative publicness' functioned as a display of power before their subjects, dominated the public. Authority figures embodied virtues and powers in a public fashion. Public representation of political and economic power continued, unabated until the Reformation, at which time, the privatization of religious faith signaled a separation between society and the state. Economically, in the 16th and 17th centuries, the spread of trade necessitated the spread of news from various locales. As news outside of the home became relevant to home economy, the private individual begins to take an interest in public events. Consolidation of 'national' financial administration and state-controlled taxation, along with the rise of print culture, facilitated the dissemination of news, initially in the form of governmental decrees, market conditions, and happenings at court. Through this, the actions of the authorities came under the scrutiny of a reading public.

The 18th century is the key moment for Habermas. In this period, the government, along with private individuals, made use of the press, for the first time, in persuasive appeal to a public made up of private people. The press now presented the public with information, with which they were to use reason and discussion to determine what was in the public's interest. Habermas emphasizes the theoretical parity that this brings about - the rise of the coffee houses and salons, in which merchants met with gentility and engaged in rational-critical debate over issues of public import. Stretching this into the realm of the franchise, Habermas is careful to point out the problematics of a situation in which actual decision-making was restricted to those with money and land, but stresses that the opportunity for anyone to acquire these prerequisites was, again, theoretically, open to all.

For a brief time during the 18th century, Habermas sees the flourishing of a public sphere, born out of a reading public, that began to interact with the processes of public policy, legally, and morally. The purpose of this public sphere, according to Habermas, is to eliminate the domination of authoritative power, and establishing a government that is actually representative of the public will and contingent upon public opinion. Unfortunately, in the 19th century, with the stratification of party politics, the proliferating press encouraged less rational-critical discussion. Increasingly, debate moved into parliamentary circles, and the public was asked only to approve of party measures, not participate in the formation of the rules that governed them. In the 20th century, along with the creation of the welfare-state, consolidation of moneyed interests, and the expansion of universal suffrage (ironically), the public sphere disintegrated even further. New media - radio, television, etc. - turned its addresses to the public into mere advertising. Even the illusion of a private people engaged, as a public, in matters of their own governance, was gone, and the public became vessels for mass media.

To recuperate a true participatory public sphere, Habermas takes a guarded approach. He indicates that some kind of elite could be formed. These private individuals would undertake the responsibility of rational-critical debate, determining the public interest. The general public, then, would give their approval or disapproval to the measures decided on by this elite. This is kind of a bleak outlook, and one I don't much care for myself. Of course, this is a horribly limited review of Habermas's "Structural Transformation". I haven't even noted the break he takes to outline the historical-philosophical evaluation and critique of the public sphere by Kant, Hegel, Marx, Mill, and Tocqueville. Nor did I note the extensive use Habermas makes of political and economic changes in his key nations - England, France, and Germany - and the contributions these make to the disintegration of the public sphere. At any rate, "Structural Transformation" is an exhaustive (and exhausting) study, as relevant now to the study of literature, economics, government, history, etc., especially of the last three centuries, as it ever was. Even though it is a pain to read, you'll be glad you finally read it. Think of it as theoretical medicine - it may not taste good, but in the long run, it's good for you.

3 out of 5 stars Habermas puts me to sleep.......2000-07-23

... This is Habermas' dissertation, but his writing is so poor, in English or in German, that it really doesn' matter. The book is a response, in my opinion, to Carl Schmitt, and specifically to Schmitt's argument that the core of liberal democracy is debate in parliament, that liberal democracy is rule by discussion (or, as its called now, "political discourse"), but that that discussion is now more real than painted flames on a radiator. Liberal democracy is in fact the triumph of aliberal, private, hidden powers, who rule from the shadows and through the true organs of power, the media, and through the hidden power of the private vote cast in the illicit privacy of the voting booth, where the bourgeois individual is free to exercise his worst prejudices and basest motives. So argues Schmitt. Habermas gives an interesting historical account of the rise of "Offentlichkeit" (which translates into the all-too-easy abstraction "public sphere," whatever that is), from the letters passed in the mail relating the news from town to town, to French salons, to newspapers, to television and radio. Habermas, like Schmitt, seeks to unmask the illiberal powers lurking behind the good liberal prejudices, but he, like Schmitt, mistakes liberalism for a debating society when in fact it is much more sophisticated than that. Habermas needs to read the Federalist Papers and the debates (!) at the constitutional convention to understand how little the founders of one liberal democracy thought of the power of discussion.
Investment Science
Average customer rating: 4.5 out of 5 stars
  • It might be a good finance book,
  • superb coverage of subject matter
  • good but not excellent
  • Good book to understand quantitative finance
  • Investment Science must have
Investment Science
David G. Luenberger
Manufacturer: Oxford University Press, USA
ProductGroup: Book
Binding: Hardcover

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ASIN: 0195108094

Book Description

Fueled in part by some extraordinary theoretical developments in finance, an explosive growth of information and computing technology, and the global expansion of investment activity, investment theory currently commands a high level of intellectual attention. Recent developments in the field are being infused into university classrooms, financial service organizations, business ventures, and into the awareness of many individual investors. Modern investment theory using the language of mathematics is now an essential aspect of academic and practitioner training. Representing a breakthrough in the organization of finance topics, Investment Science will be an indispensable tool in teaching modern investment theory. It presents sound fundamentals and shows how real problems can be solved with modern, yet simple, methods. David Luenberger gives thorough yet highly accessible mathematical coverage of standard and recent topics of introductory investments: fixed-income securities, modern portfolio theory and capital asset pricing theory, derivatives (futures, options, and swaps), and innovations in optimal portfolio growth and valuation of multiperiod risky investments. Throughout the book, he uses mathematics to present essential ideas of investments and their applications in business practice. The creative use of binomial lattices to formulate and solve a wide variety of important finance problems is a special feature of the book. In moving from fixed-income securities to derivatives, Luenberger increases naturally the level of mathematical sophistication, but never goes beyond algebra, elementary statistics/probability, and calculus. He includes appendices on probability and calculus at the end of the book for student reference. Creative examples and end-of-chapter exercises are also included to provide additional applications of principles given in the text. Ideal for investment or investment management courses in finance, engineering economics, operations research, and management science departments, Investment Science has been successfully class-tested at Boston University, Stanford University, and the University of Strathclyde, Scotland, and used in several firms where knowledge of investment principles is essential. Executives, managers, financial analysts, and project engineers responsible for evaluation and structuring of investments will also find the book beneficial. The methods described are useful in almost every field, including high-technology, utilities, financial service organizations, and manufacturing companies.

Customer Reviews:

1 out of 5 stars It might be a good finance book,.......2007-08-14

but it's a terrible math book.

Too often, explanations, examples, and problems do not clearly explain the meanings of variables and applicable assumptions. This poor presentation of material makes the book barely usable to someone trying to learn the material for the first time.

5 out of 5 stars superb coverage of subject matter.......2007-07-30

Prof. Luenberger currently teaches at Stanford and this book is used as the textbook for a 2-quarter series in investment science there. The coverage is concise and the math is manageable and yet extremely practical. I agree that this an excellent self-study book in the subject of investment science.

4 out of 5 stars good but not excellent.......2007-03-15

This book serves very good introduction to mathematical finance. Particularly,
I enjoyed the discussion of bonds immunization, mean-variance theory, CAPM, APT.
It's most suitable for senior undergraduates or any junior graduate students.
But it doesn't deserve 5 star for the following reasons:

1) Most of the theories discussed so far in the book are TOO idealized and
over simplified. Financial data is dynamic and massive. In model quantitative/computational finance, the most important thing is to understand what the data says rather than what one thinks the data structure might be. With the book, one probably can only do some macroeconomic/very coarse analysis. Author should incorporate more data analysis evidence together with proposed theories.

2) The proof of ito's lemma is wrong(i.e. "Deltaz^2 --> deterministic as Deltat --> 0"). It's surprising since most books make the same mistake. It is the law of the large number contributes to the equality!(i.e. integration sense). The misunderstanding of the proof might lead to the misunderstanding of the hedging process.

3) In the commodity option pricing session, author demonstrated the use of futher market to price the option. This should be discussed further (i.e. black's model).

4) The volatility pumping session should be further researched. The explanation is
not satisfactory.

5 out of 5 stars Good book to understand quantitative finance.......2005-06-10

Luenberger was a professor of optimization and his books on that subject are also very good. Clear and Precise. But sometimes he is extremely concise, so that you need to work a bit to completely understand a point.

In this book, we have again the same style (after all, it is the author style): Clear and precise book, GOOD choice of notation (I cant say the same thing about HULL's books) but sometimes extremely concise.
Overall, a good book to start learning and on a solid foundation.

5 out of 5 stars Investment Science must have.......2005-03-24

Great book, covers lots of material and goes beyond by using the log utility to portfolio growth. Great buy!!!!
International Political Economy: Interests and Institutions in the Global Economy (2nd Edition)
Average customer rating: 4.5 out of 5 stars
  • readable textbook
  • Just great
  • gives an understanding of the many forms of globalisation
  • coherent and concise
  • Well researched and excellently written
International Political Economy: Interests and Institutions in the Global Economy (2nd Edition)
Thomas Oatley
Manufacturer: Longman
ProductGroup: Book
Binding: Paperback

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  1. International Political Economy International Political Economy
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  3. The Penguin Dictionary of Economics: Seventh Edition (Penguin Reference Books) The Penguin Dictionary of Economics: Seventh Edition (Penguin Reference Books)
  4. A Beginner's Guide to the World Economy : Eighty-One Basic Economic Concepts That Will Change the Way You See the World A Beginner's Guide to the World Economy : Eighty-One Basic Economic Concepts That Will Change the Way You See the World
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ASIN: 0321355660

Book Description

This exciting text provides students with a superior grounding in contemporary international political economy. It emphasizes current scholarship and provides the background in politics, economics, and history that students need to understand the contemporary global economy.

Customer Reviews:

4 out of 5 stars readable textbook.......2007-02-14

This textbook was easy to read (not overly technical and used a lot of real-world analogies). An instuctor or professor who requires this text is probably taking a practical approach to the course, which typically means it will be more interesting to learn about the subject matter. The text is only in paperback and not particularly durable for backpack toting- buy used if possible.

5 out of 5 stars Just great.......2007-01-10

First the book appears to be full of ideas without a touch of reality or just theoretical, but after reading the first and second chapter and after understanding the principles of econ 101/102, everything will make sense. There is so much to learn in this book and, the good thing, it is not boring.
I have to say that it was the best political econ book I've ever read, and I do recommend it for beginners.

4 out of 5 stars gives an understanding of the many forms of globalisation.......2006-09-28

Oatley provides a readable, non-mathematical description of international economics since World War 2. The book will give the reader a good grounding in understanding globalisation. Not as something to be feared or tamed, but as arising from fundamental trends that are effectively impossible to reverse.

Oatley certainly talks about more than just globalisation. Like managing exchange rates. But even here, it is discussed in the context and reality of a world where immense pools of capital are often highly mobile. This is not typically thought of by the general public as globalisation. But the text shows that capital flow across national boundaries is indeed another aspect of globalisation, that has become common in the last 20 years.

5 out of 5 stars coherent and concise.......2006-05-05

Oatley has a way of boiling down complex concepts into short, pithy chapters. The writing is clear and concise and the examples used in the text provide interesting perspectives on current political issues such as the US budget deficit or the power dynamics in debt negotiations between powerful international creditors (IMF, World Bank) and debtor countries. The chapters are well structured--with introductions and conclusions that really help draw out the key points of the chapter. I found that this book provided coherent theories with which I could better understand material from other political science and economics classes. Overall, I highly recommend it.

5 out of 5 stars Well researched and excellently written.......2006-04-14

Thomas Oatley has written a brilliant historic piece of literature. He uses great examples to explain difficult concepts and leaves you with a comprehensive understanding of the topic. I found this book to be paramount in my undestanding of today's current debates on the US Trade Policy, our deficit, etc.

I highly recommend this book to anyone who is interested in Political Economics, Economics, or just wants to learn about our economic and trade policy

5 Stars: Great Job!
The Nibble Theory and the Kernal of Power: A Book About Leadership, Self-Empowerment, and Personal Growth
Average customer rating: 5 out of 5 stars
  • honest and simple
The Nibble Theory and the Kernal of Power: A Book About Leadership, Self-Empowerment, and Personal Growth
Kaleel Jamison
Manufacturer: Paulist Press
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Binding: Paperback

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  5. How to Read a Book (A Touchstone Book) How to Read a Book (A Touchstone Book)

ASIN: 0809141876

Book Description

Like a snowflake or a fingerprint, we are all one of a kind and have a special contribution to make. The late Kaleel Jamison, one of the first women to enter the field of management consulting, experienced what she described as "nibbles," little bites that life takes out of you--really attacks on your self confidence. Her longtime best selling book, The Nibble Theory, is a process for dealing with the world that moves the reader toward personal power and growth arising out of the unique values and strengths of each person.

Customer Reviews:

5 out of 5 stars honest and simple.......2006-10-23

I keep coming back to the 'nibble theory' and am still searching for another as good (and short!). Recently I read the art of possiblity and ... it reminded me AGAIN of the kernel of power.
Kaleel, gets the message across with love and compassion and in a minimum number of pages plus there are lots of drawings :-)
My colleagues, friends and children love it ... I wish there were more books out there like it!!!
It's both inspiring AND fun.
Thinking Strategically: The Competitive Edge in Business, Politics, and Everyday Life
Average customer rating: 4.5 out of 5 stars
  • Thinking Strategically
  • GT Is In Everyday Life
  • Good Introduction to game theory..
  • Changes your perspective
  • Intro to Game Theory
Thinking Strategically: The Competitive Edge in Business, Politics, and Everyday Life
Avinash K. Dixit , and Barry J. Nalebuff
Manufacturer: W. W. Norton & Company
ProductGroup: Book
Binding: Paperback

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ASIN: 0393310353

Customer Reviews:

4 out of 5 stars Thinking Strategically.......2007-09-27

This book was short and interesting. Not only does it give points on thinking startegically for business but also in your daily life.

5 out of 5 stars GT Is In Everyday Life.......2007-07-19

"Thinking Strategically" is a helpful and likeable primer for those who want to dabble and/or learn about general everyday concepts of Game Theory. It's also for those who don't want to get too deep into the minutia of the mathematics, calculus, and statistical probability of Game Theory. The real-life examples and matrices used in this book are applied by the author and can be applied by anyone in many everyday-life scenarios: getting a cab, negotiating private contracting work, or general bargaining, for example. In Business, whether two competing magazines should both advertise, have only one advertise, or have both not advertise. (Better for both not to advertise.) Cartels are also examined.

Other matrices, examples, and anecdotes, are applied in this book in business, politics, and sports. E.g., the strategy of an NFL football team's offense and defense, Stalin's "Scorched Earth Defense," and how a pitcher rotates his pitching selection are explained quite well, as examples. It seems a good portion of human instincts and traits are involved in the aspects of Game Theory. We already intuitively know about these elements before reading this introductory book. But we can apply GT with more awareness after being exposed to the theory.

The renown concept of the "Prisoner's Dilemma:" If two suspects work together they can both mutually benefit themselves together and individually by cooperating. Obviously, this is partly why suspects are separated when they're questioned and interrogated. But they can still both cooperate, even if separated. But will one sell out the other, or will both sell out each other, leading to longer sentences and harsher penalties for both, because one or the two of them decided to use the most Dominate Strategy?

In Game Theory, it takes two to Tango. And most of the time it's not beneficial to play the "Dominant Strategy."

One of the many examples was the taxi driver who picked up two people (potential customers) in front of a hotel. After telling the driver where they wanted to go, the driver refused to turn on his meter and said he would charge a lower price than the meter because he liked the country where the passengers were from. The driver the stated the price he would charge. The passengers responded by asking the driver to turn on the meter, and at the end of the ride the driver could charge less than the meter. Ah-ha, but the driver didn't agree. And even grew grew angry and didn't take them. They later proved he was being disingenuous by taking a metered taxi to their destination which was the lower than than the "special discount" offered by the first guy.

One important point above: it's difficult to use Game Theory with a) irrational people and b) people who don't realize the win-win concept of mutual benefits. Unfortunately reality creeps in....when you deal with people who don't practice "Game Theory," who shoot themselves in the foot and waste your time and energy.

Internationally IMO, Game Theory is lacking and sorely needed in certain parts of the world. In Japan this book sold well. Unfortunately it didn't sell much in the surrounding nations.

One of the author's former students recommended this book to me. The author made an astute decision to change the spelling of his name. College undergrads can be puerile at times. :)

A good book. "Look ahead and reason back."

3 out of 5 stars Good Introduction to game theory.........2006-12-31

Although this is a good introduction to game theory, I have to say that half of the book was interesting, the rest was a difficult reading (maybe it was just me but I couldn't focus in some chapters). The good thing about the book is that it change your way on dealing with situations and decisions, always rethinking on the steps to follow.

4 out of 5 stars Changes your perspective.......2006-12-22

This is a good book if you want to pass your everyday decisions through a game theory lense. The reading is dense at times but it has enough memorable stories to draw on at a later time.

If you are looking for a solid introduction to strategic decisions that consider the competitive landscape, then this book is a good choice.

5 out of 5 stars Intro to Game Theory.......2006-10-11

This book is an outstanding introduction to game theory -- free of jargon and mathematics. Concepts are illustrated through examples taken from business, politics, sports, and everyday life. If you'd like to anticipate what people/groups will do, and understand why, read this book.
The General Theory of Employment, Interest, and Money (Great Minds Series)
Average customer rating: 3.5 out of 5 stars
  • The Hobo Philosopher
  • seminal, but inscrutable for the average Joe
  • The Failure of the "New Economics"
  • If you haven't read this masterpiece at least twice
  • Neoclassical Economics is a Special Case
The General Theory of Employment, Interest, and Money (Great Minds Series)
John Maynard Keynes
Manufacturer: Prometheus Books
ProductGroup: Book
Binding: Paperback

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  5. Capitalism, Socialism, and Democracy Capitalism, Socialism, and Democracy

ASIN: 1573921394

Customer Reviews:

5 out of 5 stars The Hobo Philosopher.......2007-09-12

This is not the book for the beginner. Unless you know economics and economic terminology save this book for some time down the road.
Keynes did not write for the general reader. He was clearly an elitist economist. He may know what he is talking about but I doubt that you will. I didn't.
His "A Tract on Monetary Reform" is a little more intelligible but not much. He is obviously not a teacher and isn't trying to be one. Try Galbraith, Heilbroner, Samuelson, or William Greider or anybody else first.
If you think you know your economics and you are looking for a challenge - this is your man.

5 out of 5 stars seminal, but inscrutable for the average Joe.......2007-07-04

Published in 1936 during the height of the the Great Depression, Keynes's "General Theory" is widely credited, rightly or wrongly, as being the theory that actually pointed out how to end the Depression. It has never been out of print since its first publication.

The volume you're getting here hasn't much in terms of being "reader friendly." There is a brief (2-page) introduction. There are no footnotes (other than Keynes's original ones), and no helpful commentary or other aid that would help make Keynes's book more comprehensible to the general reader. So you're basically getting the bare bones.

But the book can be very tough going, even for those with extensive preparation in economics. It has plenty of nasty equations and there are more thistles than you'll find in an English hedgerow. In brief, it's one of those universally heralded classics that many pay lip service to but few have ever read.

As for whether this is "the book that ended the Depression," I'm not so sure. There were many competing theories floating around during the Depression, and Keynes's was only one of those.

While Keynes's recipe of counteracting a decline in private spending with an increase in government spending turned out to be what Roosevelt (and Hitler) actually did, certainly the war would have come along whether or not Keynes published his book. Hence governments would have stumbled upon "the Keynesian solution" on their own anyway.

1 out of 5 stars The Failure of the "New Economics".......2007-05-22

Henry Hazlitt,

"A Path-Breaking Pioneer?

Now though I have analyzed Keynes's General Theory in the following pages theorem by theorem, chapter by chapter, and sometimes even sentence by sentence, to what to some readers may appear a tedious length, I have been unable to find in it a single important doctrine that is both true and original. What is original in the book is not true; and what is true is not original. In fact, as we shall find, even much that is fallacious in the book is not original, but can be found in a score of previous writers."

5 out of 5 stars If you haven't read this masterpiece at least twice.......2007-04-18

...you're not a real person. If it was not for this wizard's brilliant insight on how to create prosperity with a little math and a little monetary expansion, there would undoubtedly still be poverty in the world today. It's not just a book, it's a religion. And it's the best religion.

Verdict: Read it at least twice.

5 out of 5 stars Neoclassical Economics is a Special Case.......2007-03-30

I'm an undergrad economics student, and I was always puzzled by the "Keynesian" economics they taught me. I couldn't see how it fit in with the market clearing story they were also telling me. So I decided to give this book a shot. After reading it, I was surprised at how simple the main concept is. I didn't find it difficult to read at all, or badly organized (but maybe that's because I'm used to reading philosophy). Basically, just like they teach you in Principles of Macroeconomics, the heart of the theory is the Keynesian Cross (which is a rough approximation of Keynes' D-Z model in this book). The consumption function leaves a gap between income and expenditures, which must be filled by planned investment, or the economy will move to a lower equilibrium via the multiplier. Classical economics, in effect, just assumes that gap is always filled by planned investment (where the economy is at full employment, no less) without even making an argument for it. In the classical model, any decrease in planned investment is matched by an increase in consumption, or vice versa. But there is no good reason to think that will be the case, generally. If you hoard your money today, businessmen do not have a magic crystal ball that allows them to determine what you will spend it on in 5 years. Thus they do not invest. A decrease in consumption is not matched by an increase in planned investment. The economy will move to a new, lower equilibrium via the Keynesian Cross, in which income equals expenditures (i.e. no hoarding any more).

The one thing I did find confusing in the book, though, was Keynes' assertion that saving always equals investment, by defintion. I determined that this results from an incorrect definition of saving. While on an individual level, saving is income minus consumption, the same is not true for the economy as a whole. It is more accurate to say that saving in the aggregate is always zero, because an individual act of saving is always matched by an equal amount of dissaving by someone else (the saving deprives them of their income, unless the the savings are invested, in which case they are no longer savings). The gap between income and consumption, in the aggregate, is always investment. Its just the form of investment that changes. If the gap between income and consumption isn't filled by planned investment, it will be filled up by "unplanned" investment (i.e. inventories build up). In macroeconomic equilibrium, there is no unplanned investment. Thus, Y = Ip (planned investment) + C. Classical economics assumes that Y - C always equals Ip, and at the point of full employment. Keynes's theory is the more general case when Y - C could equal Iu (unplanned investment). In that case, the economy moves to a below optimal equilibrium that does not correspond to full employment.

I would definitely recommend this book if you're an economist, or if you have anything to do with public policy. Or even if you're just curious. Don't be frightened off by the people who tell you its "unreadable" or "a mess." They just can't handle a real scholar who writes precisely and clearly.
Eating in the Light of the Moon: How Women Can Transform Their Relationship with Food Through Myths, Metaphors, and Storytelling
Average customer rating: 5 out of 5 stars
  • Gain Light and Insight
  • This book is wonderful
  • truly helpful book
  • Worth a Re-read, especially if the first time was hurried.
  • great book about emotional eating
Eating in the Light of the Moon: How Women Can Transform Their Relationship with Food Through Myths, Metaphors, and Storytelling
Anita A. Johnston PhD.
Manufacturer: Gurze Books
ProductGroup: Book
Binding: Paperback

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ASIN: 0936077360

Book Description

By weaving practical insights and exercises through a rich tapestry of multicultural myths, ancient legends, and folktales, Anita Johnston helps the millions of women preoccupied with their weight discover and address the issues behind their negative attitudes toward food.

Customer Reviews:

5 out of 5 stars Gain Light and Insight.......2007-08-23

"Eating in the Light of the Moon" is hands down the best book on disordered eating I have yet to read, because it sheds light on the painful struggle with uplifting, inspiring storytelling. Johnston's soft, delicate voice will weave you through tales of distant lands which somehow bring you to the shore of self-discovery. This book does use psychology as the basis for its generalizations, but I never found it to be too preachy. Like saying good-bye to your favorite characters at the end of a novel, you will not want this story to end. It is one giant affirmation, and I recommend it especially to women who long to reclaim their hidden or lost feminine.

5 out of 5 stars This book is wonderful.......2007-07-28

For people who want to recover from an eating disorder this book is a must for your library. It is conforting, interesting and soulful. It prompts the inner self to open its mouth and get ready to be fed what will truly nourish you.

An eating disorder can be a catalyst to your growth as a person if you surrender to it with awareness and be open to its teachings. This book can help you do that. When you really know what you need besides behaviors of an eating disorder then you can go about the task of learning and working in partnership with life to create what you are really wanting and desiring.

If you are new in recovery this book helps open the door to the deeper self and prepares you for a journey. If you are already in recovery and want another affirming voice to add to your support system, this book will help.

5 out of 5 stars truly helpful book.......2007-07-10

this book was an EXTRAORDINARY experience....it was almost as if I was having a 1:1 therapy session with a psychologist. What a fantastic exploration into an isolated world of eating disorders where no one really knows what it is like until you have been there. This book really gets to the meat of what is underlying an eating disorder. Having experienced this myself, it was nothing short of a incredible awakening as to revealing why I do what I do. Highly recommended

5 out of 5 stars Worth a Re-read, especially if the first time was hurried........2007-06-05

I am currently reading this book for the second time, immediately following a treatment program for disordered eating and bulimia. This book is an incredible source of inspiration, and a real beacon of light for those who are not currently in a therapy program.

I admit, the first time I looked through this book I was put off and uninterested in it because of the "mother earth, sacred feminine" tone in the first few pages. In retrospect, I am not sure that it was the point of view that wasn't my style as much as the fact that my ED was in charge of my rational mind, telling me that I was just fine and the book was stupid.

I recommend purchasing this book if you have read "Life with ED" or "Don't Live It, Diet" or some memoirs of those with EDs, because it is a totally different perspective. It isn't as easy to read as the "Life with ED", and it isn't a work book. It isn't a sad story about ED that will be triggering. Rather, it is a book divided into easy to read chapters that comfort the spirit and affirm recovery.

Thanks Dr. Johnston for such a creative and caring book.

5 out of 5 stars great book about emotional eating.......2007-05-15

This is one of the best books I have ever read about emotional eating. The author is clear, easy to understand, and compassionate. She provides a mix of thoughtful and pragmatic info. I strongly recommend this book!!!!
Heroine's Journey
Average customer rating: 5 out of 5 stars
  • Learning The Women's Way To Heal.
  • Excellent Book for Writers
  • At last a model of the journey that makes sense
  • Essential Reading for All Women
  • an enlightening guide
Heroine's Journey
Maureen Murdock
Manufacturer: Shambhala
ProductGroup: Book
Binding: Paperback

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  5. Circle of Stones: Woman's Journey to Herself Circle of Stones: Woman's Journey to Herself

ASIN: 0877734852
Release Date: 1990-06-23

Book Description

This book describes contemporary woman's search for wholeness in a society in which she has been defined according to masculine values. Drawing upon cultural myths and fairy tales, ancient symbols and goddesses, and the dreams of contemporary women, Murdock illustrates the need for—and the reality of—feminine values in Western culture today.

Customer Reviews:

5 out of 5 stars Learning The Women's Way To Heal........2006-03-31

I found this book to be extremely helpful in understanding how a woman heals. Women have a different emotional pathway then men. As I read this book some of my confusion straightened out, the processes given were helpful for a time and I started to have more respect for myself as a woman. At a time when I most needed; this book really helped me in my darkest time. It does not take the place of a therapist or a trusted friend and confidant. But how nice to know I was not going insane, just moving through a growing period in my emotional and spiritual makeup. I hope if you purchase this book, it will be as helpful to you as it was to me.

5 out of 5 stars Excellent Book for Writers.......2005-07-28

My initial interest in this book was its discussion of archetypes and how they work within a woman's psyche. While this book doesn't break new ground in its discussion of archetypes and mythology, Murdock's personal approach to the topic (she includes her own experiences, both real and dreamed) makes this book especially engrossing. What surprised me was chapater 8, "Healing the Mother/Daughter Split." I was particularly drawn to this chapter, since this is a topic I've yet to deal with in my own writing (I've found it too difficult and painful to delve into). This chapter gave me strength to confront mother/daughter issues I've been avoiding. It also explained why certain imagery, particularly imagery of the female descent to the underworld, has cropped up in fiction that I've already written and published. All writers, male or female, will gain valuable insights from this book. Reading this book is a joyful, liberating experience. --Theresa Williams, author of THE SECRET OF HURRICANES

5 out of 5 stars At last a model of the journey that makes sense.......2000-12-11

I have just finished The Heroine's Journey. I have read Jung,Joseph Campbell, Carol Pearson, Vogler etc. All of them are fascinating but a little off, just a tiny bit away from my core experience as a woman. Murdock captures the truth of my 50 years on this planet better than anyone. Her book is a must read for anyone who is trying to make sense of the feminine experience. Thank you, Maureen.

5 out of 5 stars Essential Reading for All Women.......2000-10-11

The Heroine's Journey is an absolutely essential book that should be required reading for every woman! Maureen Murdock has blessed us with a way to look at our lives that helps us begin to make sense of them. In a time when so many of the boundaries of our souls have been blurred by the myriad contradictory images of what it is to be a woman, she gives us a map that illuminates many of the darker aspects of our collective and personal journeys. We always hear about the Hero's Journey, especially after the success of the PBS special done on Joseph Campbell, and the author has done the heroic work of reconsidering this classical mythological tale through a feminine lens. It will help you understand that baffling relationship with your mother and that distant relationship with your father and in the end will fill you with a renewed sense of compassion for your parents, and most importantly for yourself. ~ Juana Olga Barrios

5 out of 5 stars an enlightening guide.......2000-06-30

Back in the 80's one of my favorite books on the inner journey was Joseph Campbell's Hero With a Thousand Faces. The problem with it, though, was that it was written from a male perspective. With The Heroine's Journey I am now at the end of my search for a book on the hero archetype from a feminine perspective. Although this book is not exactly Jungian in its approach, the author clearly seems to have been influenced by Jung's legacy of searching for mythic themes in our individual psyches. Thus, she writes of the archetype of the Journey, and all its symbolism, as it applies to the feminine psyche. But she goes beyond that and explores some of the modern social issues that have been quite troubling for many women.

For instance, in the chapter "The Illusory Boon of Success," she touches upon how many of us, in striving to fulfill our dream of making an impact on the world, often end up buying into aspects of the male-dominated business culture that don't really benefit us as women. She then describes the process of building into our work and personal lives values that do benefit us, as well as others. Her chapter on "Initiation and Descent to the Goddess" is very helpful in showing how we can use loss and grief to become more strong and whole. There are so many issues and themes explored in this book that it really demands at least a couple of readings. This book has given me so much to think about, and has helped me clarify my thoughts on many different issues pertaining to myself as a woman and as a spiritual being--I am very grateful to Maureen Murdock for writing it.

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