1. Please elaborate the term of efficient market 2. Please elaborate the terms of ethical man, economic man, rational economic man, bounded ationality, REMM 3. According to economic man and REMM, all men are self-interested\potential thieves However, this is conflict with our observations. Please

Introduction Signaling games are used to model the following situation: Player 1, the Sender, receives some private information and sends a message m E M to Player 2, the Receiver. The latter, in turn, observes m but not 0, and chooses response r E R. Players'payoffs depend on 0, m and r. What could be simpler? Yet, there is a huge number of economically interesting games that fit nicely within this framework: Spence's job market signaling model is the leading example, but applications abound in IO (limit pricing, disclosure...) finance (security design) and political economics

Macroenvironmental forces World trade enablers Asian economic power Rise of trade blocs International monetary crises Use of barter countertrade Move towards market economies Global lifestyles C2000 Prentice Hall

Objectives a Retailing n Wholesaling a Market logistics

0: What are SECURITIes? A: Financial assets that Investors purchase hoping to earn a high rate of return

Chapter 6: Objectives Inflation and rates of return How to measure risk (variance, standard deviation, beta) How to reduce risk (diversification) How to price risk (Security market line, CAPM)

1. Historical background The growth of mass-circulation periodicals created a rich market place for popular writers o WWi stands as a great dividing line between the 19th century and contemporary America o a sense of the failure of political leaders and a belief in the futility of hope dominated

Evaluating the Gains and Losses from Government Policies--Consumer and Producer Surplus The Efficiency of a Competitive Market Minimum Prices

Chapter 7 develops the concept of efficiency and explores why many tasks are best left up to the market It presents the concept of economic surplus in detail and looks at how unregulated markets can generate the largest possible economic surplus Chapter 7: Efficiency and Exchange

Chapter 3 introduces markets and provides an overview of the supply and demand model. It begins by comparing central planning and the market as alternative methods of allocating resources Chapter 3-Supply and Demand: An Introduction Slide 3