Interest groups seek to influence economic activity through public and private politics. Public politics takes place in the arenas of public inst it utions, whereas private politics takes place out side public inst itutions oft en in the arena of public sentiment. Private politics refers to action by interest groups directed at private parties, as in the case of an activist group launching a campaign against a firm

Numerous empirical studies have demonstrated that asset prices react rapidly, if at all, to news published in the mass media. In many cases, the information has been discounted and prices have already moved upon primary publication through news wires, press releases or firm announcements. Any remaining information is usually quickly priced in after

The International Bank for Reconstruction and Development/The World Bank 1 818H Street Nw Washington D. C. 20433. U.S.A The World Bank enjoys copyright under protocol 2 of the Universal Copyright Convention. This material may nonetheless be copied for research, educational, or scholarly

Structure Utility function(效用函数) Definition Monotonic transformation(单调转换) Examples of utility functions and their indifference curves Marginal utility(边际效用) Marginal rate of substitution边际替代率 MRS after monotonic transformation

Exchange Economies (revisited) No production, only endowments,so no description of how resources are converted to consumables. General equilibrium: all markets clear simultaneously. 1st and 2nd Fundamental Theorems of Welfare Economics

1.气体的性质 2.液体的性质 3.溶液的性质

§1-1 气体的性质 §1-2 液体 Liquids §1-3 溶液 Solutions

A1 Development of \Welfare State\ 1. Definition of Poverty 1.1 Absolute Poverty- families without minimum food, clothing and shelter needed for maintenance of merely physical health (concept at beginning of last century)

The System of Government Representative Democracy and also known as Parliamentary Democracy Monarch-- Constitutional Monarch What powers does the Queen have?

Objectives If the family is central to people's lives, surely their next most significant experience is their education. In this chapter we will begin with a brief survey of the development of free universal education since the last century, and then take a closer look at the main institutions in which British people are formally educated