- Mass Market Paperback: 416 pages
- Publisher: Penguin; 7Rev Ed edition (5 Aug 2004)
- Language English
- ISBN-10: 0141010754
- ISBN-13: 978-0141010755
- Product Dimensions: 19.6 x 12.8 x 3.2 cm
- Average Customer Review: 4.4 out of 5 stars See all reviews (5 customer reviews)
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Amazon Bestsellers Rank:
13,525 in Books (See Top 100 in Books)
- #1 in Books > Business, Finance & Law > Reference & Education > Dictionaries
- #1 in Books > Reference > Dictionaries & Thesauri > Subject Dictionaries > Economics
- #11 in Books > Reference > Other Reference By Subject > Business
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Product Description
Product Description
The Penguin Dictionary of Economics explains a host of economic terms, from acceleration principle to venture capital, Euro to X-efficiency, globalisation to zero-sum game. Wide-ranging and accessible, this detailed practical and international guide will be indispensable for students of economics and professionals (in business, finance or the public sector), and for anyone wishing to follow economic discussions in the media today.
From the Publisher
Some sample entries:
CANTILLON, RICHARD (1680 - 1734)
An Irish international banker who wrote Essai sur la nature du commerce en general, which was not published until 1755 but had circulated from about 1730. This work was one of the first synoptic descriptions and analyses of the economic process. His views on the importance of agriculture, based on its recipient of pure RENT, and his analysis of the circulation of wealth, foreshadowed the PHYSIOCRATS and the Tableau economique, respectively.
INTERNATIONAL LIQUIDITY
The amount of gold, RESERVE CURRENCIES and SPECIAL DRAWING RIGHTS available for the finance of international trade. Broadly, if sufficient reserves were not available, a fall in prices and world trade would follow (QUANTITY THEORY of money). Gold has lost some of its appeal as a reserve asset in a world of comparatively low inflation. Preference is given to the holding of interest-bearing assets denominated in stable reserve currencies such as the US dollar, the euro, Japanese yen and sterling.
SPECULATIVE BUBBLE
A deviation between the price of an asset in the market, and the price justified by the inherent value of the asset, sustained by a belief on behalf of buyers that they will be able to sell at an inflated price. The interesting thing about a bubble is that, as long as everyone believes in it, the bubble need not burst. The price can indefinitely deviate from fundamental value. While some have suggested bubbles are a sign of irrationality in the financial markets, creating more variability in the price of assets than is merited by fundamental swings in values, attempts have been made to account for them as rational phenomena.
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Customer Reviews
Most Helpful Customer Reviews
21 of 22 people found the following review helpful
Format:Mass Market Paperback
A useful tool for first time economics or business studies students. Explains theories and models in basic terms. I have also read the Collins equivalent, and believe that this Penguin version is more accessible to those new to the topic. I will certainly be recommending this dictionary to my students! For in depth information text books are more appropriate, however as a quick reference guide this is useful.
5 of 5 people found the following review helpful
Format:Mass Market Paperback
Reviewing this from the perspective of a lay reader who just wants to understand better how economic forces work (or don't work} this is a well put together and well written work. The cross referencing helps to understand some of the more obscure concepts and the style is crisp and clear throughout. The price is good too. Another winner from the Penguin Reference shelf...
4 of 5 people found the following review helpful
Format:Mass Market Paperback
Coverage of economic theory, common statistical knowledge, and widely used economics concepts, among other things, is fairly comprehensive and complete. However, a couple of important entries are missing. For example, there is no items on the subject of leading, lagging and coincident indicators, diffusion and composite indexes, all of which are key to following economic discussions. On the other side, there is only so much one can pack into less than 500 pages.
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Most Recent Customer Reviews
Invaluable to an Economics student
I bought this book as a first year Economics degree student and I've found it a great source of reference, with so many of the difficult terms that often cannot be found in... Read more
Published on 30 Dec 2009 by Ms. A. Coles
Very good and thorough.
A great little book with lots of definitions, explanations, and even diagrams! The only flaw, as with any dictionary, is that there simply aren't enough words, especially if you're... Read more
Published on 3 July 2009 by andrew.s
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