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Vernon L. Smith
Vernon Lomax Smith (born January 1, 1927) is an American economist and professor of business economics and law at Chapman University. He was formerly a professor of economics at the University of Arizona, professor of economics and law at George Mason University, and a board member of the Mercatus Center. Along with Daniel Kahneman, Smith shared the 2002 Nobel Memorial Prize in Economic Sciences for his contributions to behavioral economics and his work in the field of experimental economics. He worked to establish 'laboratory experiments as a tool in empirical economic analysis, especially in the study of alternative market mechanisms'. Smith is the founder and president of the International Foundation for Research in Experimental Economics, a Member of the Board of Advisors for The Independent Institute, a Senior Fellow at the Cato Institute in Washington D.C. In 2004 Smith was honored with an honorary doctoral degree at Universidad Francisco Marroquín, the institution that ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Classical Economics
New classical macroeconomics, sometimes simply called new classical economics, is a school of thought in macroeconomics that builds its analysis entirely on a neoclassical economics, neoclassical framework. Specifically, it emphasizes the importance of rigorous foundations based on microeconomics, especially rational expectations. New classical macroeconomics strives to provide neoclassical microeconomic foundations for macroeconomic analysis. This is in contrast with its rival New Keynesian economics, new Keynesian school that uses microfoundations such as Sticky (economics), price stickiness and imperfect competition to generate macroeconomic models similar to earlier, Keynesian ones. History Classical economics is the term used for the first modern school of economics. The publication of Adam Smith's ''The Wealth of Nations'' in 1776 is considered to be the birth of the school. Perhaps the central idea behind it is on the ability of the market to be self-correcting as well a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Behavioral Economics
Behavioral economics studies the effects of psychological, cognitive, emotional, cultural and social factors on the decisions of individuals or institutions, such as how those decisions vary from those implied by classical economic theory. Behavioral economics is primarily concerned with the bounds of rationality of economic agents. Behavioral models typically integrate insights from psychology, neuroscience and microeconomic theory. The study of behavioral economics includes how market decisions are made and the mechanisms that drive public opinion. The concepts used in behavioral economics today can be traced back to 18th-century economists, such as Adam Smith, who deliberated how the economic behavior of individuals could be influenced by their desires. The status of behavioral economics as a subfield of economics is a fairly recent development; the breakthroughs that laid the foundation for it were published through the last three decades of the 20th century. Behavio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Krannert School Of Management
The Krannert School of Management is the school of management at Purdue University, a public research university in West Lafayette, Indiana. It offers instruction at the undergraduate, master's, and doctoral levels. History The School of Industrial Management at Purdue University was created in 1958 from the merger of the Department of Economics (established in the School of Science, Education, and Humanities in 1953) and the Department of Industrial Management and Transportation (part of the Schools of Engineering since 1956). The Krannert Graduate School of Industrial Administration was founded in 1962 with a $2.7 million endowment from Herman Krannert and Ellnora Krannert. The AACSB accredited the new school in 1967. In the early years, students were required to pursue a second major, in a technical subject, in addition to their coursework in business and management. The curriculum expanded over the following decade and the word "Industrial" was dropped from the schools' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Doctorate
A doctorate (from Latin ''docere'', "to teach"), doctor's degree (from Latin ''doctor'', "teacher"), or doctoral degree is an academic degree awarded by universities and some other educational institutions, derived from the ancient formalism ''licentia docendi'' ("licence to teach"). In most countries, a research degree qualifies the holder to teach at university level in the degree's field or work in a specific profession. There are a number of doctoral degrees; the most common is the Doctor of Philosophy (PhD), awarded in many different fields, ranging from the humanities to scientific disciplines. In the United States and some other countries, there are also some types of technical or professional degrees that include "doctor" in their name and are classified as a doctorate in some of those countries. Professional doctorates historically came about to meet the needs of practitioners in a variety of disciplines. Many universities also award honorary doctorates to individuals d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Master Of Economics
The Master of Economics (MEcon or MEc) is a postgraduate master's degree in economics comprising training in economic theory, econometrics, and/or applied economics. The degree is also offered as an MS or MSc, MA or MCom in economics; variants are the Master in Economic Sciences (MEconSc), and the Master of Applied Economics. Structure The degree may be offered as a terminal degree or as additional preparation for doctoral study, and is sometimes offered as a professional degree, such as the emerging ''MPS in Applied Economics''. The program emphases and curricula will differ correspondingly. The course of study for the master's degree lasts from one to two years. A thesis is often required, particularly for terminal degrees. Many universities (in the United States) do not offer the master's degree directly; rather, the degree is routinely awarded as a master's degree "en route", after completion of a designated phase of the PhD program in economics. Typically, the c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Master Of Arts
A Master of Arts ( la, Magister Artium or ''Artium Magister''; abbreviated MA, M.A., AM, or A.M.) is the holder of a master's degree awarded by universities in many countries. The degree is usually contrasted with that of Master of Science. Those admitted to the degree have typically studied subjects within the scope of the humanities and social sciences, such as history, literature, languages, linguistics, public administration, political science, communication studies, law or diplomacy; however, different universities have different conventions and may also offer the degree for fields typically considered within the natural sciences and mathematics. The degree can be conferred in respect of completing courses and passing examinations, research, or a combination of the two. The degree of Master of Arts traces its origins to the teaching license or of the University of Paris, designed to produce "masters" who were graduate teachers of their subjects. Europe Czech Republic a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Caltech
The California Institute of Technology (branded as Caltech or CIT)The university itself only spells its short form as "Caltech"; the institution considers other spellings such a"Cal Tech" and "CalTech" incorrect. The institute is also occasionally referred to as "CIT", most notably in its alma mater, but this is uncommon. is a private university, private research university in Pasadena, California. Caltech is ranked among the best and most selective academic institutions in the world, and with an enrollment of approximately 2400 students (acceptance rate of only 5.7%), it is one of the world's most selective universities. The university is known for its strength in science and engineering, and is among a small group of Institute of Technology (United States), institutes of technology in the United States which is primarily devoted to the instruction of pure and applied sciences. The institution was founded as a preparatory and vocational school by Amos G. Throop in 1891 and began ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Electrical Engineering
Electrical engineering is an engineering discipline concerned with the study, design, and application of equipment, devices, and systems which use electricity, electronics, and electromagnetism. It emerged as an identifiable occupation in the latter half of the 19th century after commercialization of the electric telegraph, the telephone, and electrical power generation, distribution, and use. Electrical engineering is now divided into a wide range of different fields, including computer engineering, systems engineering, power engineering, telecommunications, radio-frequency engineering, signal processing, instrumentation, photovoltaic cells, electronics, and optics and photonics. Many of these disciplines overlap with other engineering branches, spanning a huge number of specializations including hardware engineering, power electronics, electromagnetics and waves, microwave engineering, nanotechnology, electrochemistry, renewable energies, mechatronics/control, and electrical m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Great Depression
The Great Depression (19291939) was an economic shock that impacted most countries across the world. It was a period of economic depression that became evident after a major fall in stock prices in the United States. The economic contagion began around September and led to the Wall Street stock market crash of October 24 (Black Thursday). It was the longest, deepest, and most widespread depression of the 20th century. Between 1929 and 1932, worldwide gross domestic product (GDP) fell by an estimated 15%. By comparison, worldwide GDP fell by less than 1% from 2008 to 2009 during the Great Recession. Some economies started to recover by the mid-1930s. However, in many countries, the negative effects of the Great Depression lasted until the beginning of World War II. Devastating effects were seen in both rich and poor countries with falling personal income, prices, tax revenues, and profits. International trade fell by more than 50%, unemployment in the U.S. rose to 23% and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Friends University
Friends University is a private nondenominational Christian university in Wichita, Kansas. It was founded in 1898. The main building was originally built in 1886 for Garfield University but was donated in 1898 to the Religious Society of Friends (Quakers) by James Davis, a St. Louis business man. In the 1930s the leadership of the school was turned over to an independent board of trustees, with some representation of the Mid-America Yearly Meeting of Friends on the board. It operates today with "an amicable but independent relationship with the evangelical branch of the Society of Friends." History Garfield University The building now known as the Davis Administration Building and formerly as University Hall was completed in September 1887 to house Garfield University. Garfield was an effort by the Christian Churches of Kansas led by Dr. W.B. Hendryx to build a Christian college in the Wichita area. Hendryx wanted to name the college after his good friend, President James ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wichita North High School
Wichita North High School, known locally as North, is a public secondary school in Wichita, Kansas, United States. It is operated by Wichita USD 259 school district and serves students in grades 9 to 12. The school was founded in 1929 on the site where the United States government previously sent Company 'A' of the 10th Division to the forks of the Arkansas River to protect the incoming cattle drivers from the Indians during the 1800s. Wichita North is a member of the Kansas State High School Activities Association and offers a variety of sports programs. Athletic teams compete in the 6A division and are known as the "Redskins". History Wichita North High School was the second high school in the city of Wichita, completed in 1929. Wichita East High School was the first high school. In February 2021, the Wichita Board of Education voted unanimously to retire the school’s mascot. A committee created by Wichita Public Schools to study the mascot determined: “the term is of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Universidad Francisco Marroquín
Francisco Marroquín University (Spanish: ''Universidad Francisco Marroquín''), also known by the abbreviation UFM, is a private, secular university in Guatemala City, Guatemala. It describes its mission as "to teach and disseminate the ethical, legal, and overall economic principles of a society of free and responsible persons." According to Milton Friedman, it is "one of the leading universities in Latin America." History It was founded in 1971 by Manuel F. Ayau, known as Muso. Its namesake is Francisco Marroquín, an early bishop of Guatemala and translator of Central American languages, but the university does not follow any of his teachings or philosophies. Started by members of Center for Economic and Social Studies with $40,000 and 125 students, UFM counted 2700 undergraduate students and 1500 graduate students as of 2009. The philosophy statement says that "universities need to place themselves beyond the conflicts of their time so that science and academic freedom – ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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