Recursive Methods in Economic Dynamics
Author: Nancy L Stokey
This rigorous but brilliantly lucid book presents a self-contained treatment of modern economic dynamics. Stokey, Lucas, and Prescott develop the basic methods of recursive analysis and illustrate the many areas where they can usefully be applied.
After presenting an overview of the recursive approach, the authors develop economic applications for deterministic dynamic programming and the stability theory of first-order difference equations. They then treat stochastic dynamic programming and the convergence theory of discrete-time Markov processes, illustrating each with additional economic applications. They also derive a strong law of large numbers for Markov processes. Finally, they present the two fundamental theorems of welfare economics and show how to apply the methods developed earlier to general equilibrium systems.
The authors go on to apply their methods to many areas of economics. Models of firm and industry investment, household consu mption behavior, long-run growth, capital accumulation, job search, job matching, inventory behavior, asset pricing, and money demand are among those they use to show how predictions can he made about individual and social behavior. Researchers and graduate students in economic theory will find this book essential.
Table of Contents:
I. THE RECURSIVE APPROACH
1. Introduction
2. An Overview
2.1 A Deterministic Model of Optimal Growth
2.2 A Stochastic Model of Optimal Growth
2.3 Competitive Equilibrium Growth
2.4 Conclusions and Plans
II. DETERMINISTIC MODELS
3. Mathematical Preliminaries
3.1 Metric Spaces and Normed Vector Spaces
3.2 The Contraction Mapping Theorem
3.3 The Theorem of the Maximum
4. Dynamic Programming under Certainty
4.1 The Principle of Optimality
4.2 Bounded Returns
4.3 Constant Returns to Scale
4.4 Unbounded Returns
4.5 Euler Equations
5. Applications of Dynamic Programming under Certainty
5.1 The One-Sector Model of Optimal Growth
5.2 A "Cake-Eating" Problem
5.3 Optimal Growth with Linear Utility
5.4 Growth with T echnical Progress
5.5 A Tree-Cutting Problem
5.6 Learning by Doing
5.7 Human Capital Accumulation
5.8 Growth with Human Capital
5.9 Investment with Convex Costs
5.10 Investment with Constant Returns
5.11 Recursive Preferences
5.12 Theory of the Consumer with Recursive Preferences
5.13 A Pareto Problem with Recursive Preferences
5.14 An (s, S) Inventory Problem
5.15 The Inventory Problem in Continuous Time
5.16 A Seller with Unknown Demand
5.17 A Consumption-Savings Problem
6. Deterministic Dynamics
6.1 One-Dimensional Examples
6.2 Global Stability: LiapounovFunctions
6.3 Linear Systems and Linear Approximations
6.4 Euler Equations
6.5 Applications
III. STOCHASTIC MODELS
7. Measure Theory and Integration
7.1 Measurable Spa ces
7.2 Measures
7.3 Measurable Functions
7.4 Integration
7.5 Product Spaces
7.6 The Monotone Class Lemma
Look this: Digital Communications or Sensemaking in Organizations
Ethical Obligations and Decision Making in Accounting: Text and Cases
Author: Steven M Mintz
Ethical Obligations and Decision-Making in Accounting gives students a robust ethical framework that is crucial for accountants in the post-Enron era. Incorporating the principles of the AICPA code and other systems of ethics, Mintz and Morris show accounting students how a commitment to ethics can enable accounting professionals to meet their ethical obligations both to investors and creditors. No other book so comprehensively examines the elements of the financial reporting system - including the ethics of the internal control environment and the effectiveness of board of director and audit committee oversight - that determine the ethical standard of the accounting process.
Table of Contents:
Chapter 1: Ethics Foundation for Decision Making in AccountingCase 1.1: A Student's Dilemma
Case 1.2: Ed Giles and Susan Regas
Case 1.3: Jason Tybell
Case 1.4: Lone Star School District
Case 1.5: Reneging on a Promise
Chapter 2: Ethical Reasoning
Case 2.1: A Faulty Budget
Case 2.2: Better Boston Beans
Case 2.3: Eating Time
Case 2.4: Is Internal Whistle Blowing “Right?”
Case 2.5: Play Ball
Case 2.6: Supreme Designs, Inc.
Case 2.7: The City of West Buckle, Outermanana
Case 2.8: The CPA Review Course
Case 2.9: The Ethics of iPoding
Case 2.10: The Tax Return
Chapter 3: Ethics in Business
Case 3.1: Bhopal, India
Case 3.2: Bubba Tech, Inc. (BTI)
Case 3.3: Hot & Cold, Inc.
Case 3.4: Lupeville Senior Care
Case 3.5: Milton Manufacturing Company
Case 3.6: Taking Care of Business
Case 3.7: Telecommunications, Inc.
Case 3.8: The Federal False Claims Act
Case 3.9: The S tate of Nirvana
Case 3.10: Wi-Fi Security: “We Spy for U”
Chapter 4: Ethics in Accounting: Ethical Obligations and Decision Making
Case 4.1: Beauda Medical Center
Case 4.2: Campus Sports & Fitness Health Club
Case 4.3: Cleveland Custom Cabinets
Case 4.4: Family Games, Inc.
Case 4.5: First Community Church
Case 4.6: Juggyfroot
Case 4.7: Phar-Mor
Case 4.8: The New CEO
Case 4.9: The New Staff Member
Case 4.10: ZZZZ Best
Chapter 5: Legal and Regulatory Obligations in an Ethical Framework
Case 5.1: Busyboto Scooter Sales, Inc.
Case 5.2: Foreign Corrupt Practices Act
Case 5.3: Knowledge Ware
Case 5.4: Reznor v. J. Artist Management (JAM), Inc.
Case 5.5: Second National Bank v. First NationalBank
Case 5.6: The Enron 410K Retirement Plan
Case 5.7: The Ethics of the Private Securities Litigation Reform Act (PSLRA)
Case 5.8: The Lecturer
Case 5.9: Whistle Blowing under Sarbanes-Oxley
Case 5.10: Who is Res ponsible?
Chapter 6: Professional Responsibilities and Ethical Obligations in Auditing
Case 6.1: Arthur Anderson, RIP
Case 6.2: Audit Client Considerations
Case 6.3: Bubba and Rufus
Case 6.4: HealthSouth
Case 6.5: Imperial Valley Thrift and Loan
Case 6.6: Kazweski & Dooktaviski
Case 6.7: Marcus Yamabuto
Case 6.8: Peachtree Enviro-Management Systems
Case 6.9: The Audit Report
Chapter 7: Earnings Management and the Quality of Financial Reporting
Case 7.1: Cubbies Cable
Case 7.2: Edvid, Inc.
Case 7.3: Excello Telecommunications
Case 7.4: Fannie Mae: The Government's Enron
Case 7.5: Florida Transportation
Case 7.6: Gelt and Moola
Case 7.7: Parmalat: Europe's Enron
Case 7.8: Solutions Network, Inc.
Case 7.9: Sweat Hog Construction Company
Case 7.10: United Thermostatic Controls
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