The 100th Anniversary of the Birthday of Milton Friedman
Educated in the United States (BA 1932 Rutgers; MA 1933 Chicago; PhD 1946 Columbia), the majority of Friedman’s work focused on price theory, monetarism, and monetary history. He was a leading figure at the Chicago School of Economics, promoting free market economics and neoclassical price theory during his career as a professor at the University of Chicago. His school of thought was contrary to the dominating Keynesianism, and struggled to gain acceptance early in his career. But his theories gained traction most notably during the period of Stagflation in the US in the 1970s. Many have written far more in-depth overviews of Friedman’s influence in 20th century economics and policy than I could ever endeavour to, so, instead, I am just going to point out a few interesting facts about him: - In 1967 he served as the president of the American Economic Association. - It is well known that he won the Nobel Memorial Prize in Economics in 1976, but he was also awarded both the National Medal of Science and the Presidential Medal of Freedom in 1988. - His Nobel Prize was “for his achievements in the fields of consumption analysis, monetary history and theory and for his demonstration of the complexity of stabilization policy.” - He retired from full time teaching at the University of Chicago in 1977 but continued to publish as a Senior Research Fellow at Stanford’s Hoover Institute until his death in 2006. - Together with his wife, Rose, he published Free to Choose in 1980, based on a 10-episode television seriesfilmed in 1978 outlining their stance on economic and social policy. The book was voted top non-fiction that year and has been a best seller ever since. The television series can be found in its entirety online for example here. - The Cato Institute named a biannual prize after him in 2002. The ‘Milton Friedman Prize for Advancing Liberty,’ is awarded biannually to “an individual who has made a significant contribution to advancing human freedom.” - Milton Friedman was voted ‘Most Influential Economist of the Second Half of the 20th Century… Possibly All of it…’ by The Economist, second only possibly to Keynes who died in 1946. Similarly, in a 2011 survey for “economic thinkers of the twentieth century and now deceased“ the American economists who responded placed him a close second behind Keynes. This short list doesn’t do justice to the enormous impact that Milton Friedman had on the fields of economics and policy during his career. His influence and legacy is sure to continue, however, and his theories the subject of academic discussion and international debate among policy-makers for years yet to come. Photo Credit: The Friedman Foundation for Educational Choice
On November 16, 2006 the world lost one of the most influential economists of the twentieth century. Today, July 31, 2012, Milton Friedman would have celebrated his 100th birthday, which makes it perhaps a fitting time to stop for a moment and recall some of his contributions to the field.
Macroeconomics and Monetary Economics (JEL E)
The Directory of Open Access Journals (DOAJ) defines ‘Open Access’ as “journals that use a funding model that does not charge readers or their institutions for access,” which encompasses both ‘self-archiving’ and ‘gold access’ publishing. The former is done by an author uploading their work on a website accessible to the public whereas the latter is a model whereby the author pays to submit their article to an established journal which will then be accessible to the public. The first and foremost issue in the fight against ‘Open Access’ is the journal industry, which stands to lose everything. A spokesperson from Elsevier went as far as pointing to stagnant library budgets and increasing global investment in R&D as a potential cause of the gap between information available and information affordable to libraries, a situation thus out of the journal industry’s control. In addition to journals, the cost of creating an accessible and financially viable open access space for high quality articles is not a cheap endeavour. The Finch Report – commissioned by the British Government – estimated GBP38m per year in publishing fees alone just during the transition period plus the additional funds (approx. GBP15m) to extend journal licencing and upgrade infrastructure. The numbers are certainly dependent on the model chosen, in that a gold access model would at least generate some income whereas self-archiving may or may not. To further this argument, the scientific journal ‘Nature,’ which already offers a gold access subscription,references the hard cost of editors, peer-review organizers, and online storage, which all play an expensive role in the publication of academic articles. They estimate the cost in an entirely open access situation to be as much as $10,000 per article in major (scientific) journals. The second issue is quality. Published journals have stringent guidelines for peer-reviews to ensure every published article is of a certain academic quality, which is not something most academics would like to see the demise of or a perceived demise of. DOAJ, however, includes in its journal submission guidelines that only journals engaged in peer review practices are to be included in their directory. This is less of an issue for the gold access form of Open Access, but certainly arises in the context of self-archiving, where users can upload both published and unpublished works, depending naturally on where it is uploaded. Arguments in favour of Open Access are based on a number of factors. Firstly, the cost of many major journals is rising above what people are willing to pay. Even prestigious and wealthy universities like Harvard are in a crunch at these costs. The rise in price is due in part by the increased need for online versions and the increase in printing costs, but also, as mentioned above, the amount of research being conducted. Others argue for Open Access as a matter of ethics. Many people argue that the public should have access to publicly funded research. The British Government, for example, has listened to this argument and is underway in their efforts to make public research more accessible with the help of Wikipedia Founder Jimmy Wales. Another professor involved in the Finch Report added that “universities produce knowledge not for ourselves but because it has a greater good.” Despite the UK’s forward thinking on the matter, there is always the issue of reciprocity, eg. If the UK allows its research to be available openly are they still going to have to pay for work done by British scholars abroad and work done abroad by foreign scholars? Short answer: yes, unfortunately. In order for open access to work, it would need to be available in all countries to all scholars, which is a tall order. There are a number of online platforms where self-archiving is both available and encouraged which are becoming more popular amongst academics, but it is a slow process to change the opinions of scholars worldwide and to go up against the entire journal industry. Until then, DOAJ lists a total of 184 Economics journals already in their database!
‘Open Access’ has been a bit of a buzzword in academic circles over the last couple of years. Its rise to popularity has come from a combination of factors including the increased price to access academic journals, as well as increased access to the internet, which has had the effect of speeding up the rate at which information travels.
Why study Economics in a Foreign Language?
While gaining proficiency in English remains the priority, economists` regard toward languages is changing. Progressive Economics explains in its article Language Economics: Why Santorum’s Argument Doesn’t Translate that globalization has driven economists´ attention not only to the increased flow of goods, but also to the increased flow of migration and the cultures and languages that comprise them. No matter which foreign language one chooses to learn, researchers at the University of Chicago have proven that economists benefit from studying in a non-native tongue. Their research shows that thinking through a problem in a foreign language helps one to make more rational decisions. Learning a foreign language teaches one to reduce emotional involvement and thus increases the likelihood of taking favorable risks. This is credited to a ‘’distancing mechanism” created during the learning process. Peter Cullen, expert in Content and Language Integrated Learning (CLIL) and lecturer at the University of Urbino, commented on the power of this ability, explaining how learning a second language allows the brain to benefit from a duality and improves the process of thought itself, which is „particularly important given that none of our economies really function in entirely mono-lingual contexts“. He defined the current global economy as an “integrated system of connected localities, regionalities and national-supernationalities which functions across many languages and their respective formal and informal institutional cultures.” With over 6700 spoken languages, which ones should economists study? Russian, Chinese and Arabic, though rising in popularity, can seem too difficult to learn for some, but a reignited interest emerging among economists for European languages, especially Spanish, French and German, has led to the creation of some hybrid programs all over the world. The aim of programs such as the IEML (International Economics and Modern Languages), the FLIE (Foreign Language and International Economics) or the BSc Economics With A European Language is to combine the main elements of a degree in economics with language and cultural skills to allow students to gain edge in the global economy. These interdisciplinary studies might thus shape the new profile of multilingual economists. If you are thinking that learning a new language is too challenging for you, keep in mind some tips from the Modern Language Association (MLA): - You are never too young and it is never too late to begin to learn a new language! - Whatever language you choose, learning it will make a difference in how you see the world and in how the world sees you! Image Credits: INOMICS - Custom Word Cloud
With English being considered the “must-have language”, is there a need for economists to learn a foreign language, or does it concern only those who work or want to work in the business field in a non-English speaking country?
Image Credit: Elena Agosti for INOMICS (original image, commissioned)
Which languages should be taught, aiming at what level of proficiency, for what reasons, and at what cost; these are some questions that this specific field of study analyzes with an economical approach. In particular, most of the economics of language belongs to the micro-economic level. One of its focus’ is on the effect of language on income, for example showing that the simple fact that belonging to a certain language group may result in a wage rate disadvantage. Some empirical studies have been conducted in order to prove the existence of significant language-based earning differentials, for example between anglophones and francophones in Canada, between migrant workers (Gastarbeiter) and native Germans in Germany, or between three language communities in Switzerland. Another core topic in this discipline is the effect of language on markets for language-related goods and services, such as language courses, textbooks, translation services, etc. In fact, the analytical concepts of supply, demand and market for any good/service also apply to language goods. However, the most useful application of the economics of language is its contribution to the analysis of language policy, a hot topic in a world where the knowledge of several languages is becoming increasingly important. Looking at advantages and drawbacks, the economics of language identifies and measures the elements of benefits and costs that characterize language policy options. It provides a consistent framework for the selection, design, and evaluation of language education policies, and it affects particularly university governance. As pointed out by Grin a lot of university departments in non English-speaking countries are facing a dilemma while designing study programs: 1) Should teaching and research operate in a variety of languages, even if this means resisting the trend towards doing more through the medium of language of wider circulation such as English? 2) Should teaching and research, on the contrary, strive to give such a language a greater role – as exemplified by many currently ongoing initiatives in universities around the world? 3) What reasons would we have for choosing either course of action? Unfortunately, at the moment there is not much research addressing the above essential questions, giving economists good reason to choose this tiny but fascinating field of specialization. This blog post is based on articles written by François Grin “Using language economics and education economics in language education policy” , “Managing languages in academia: Pointers from education economics and language economics”. Photo Credit: capsicina
In between the common subdisciplines of economics like international or financial economics, lie many much smaller specializations, for example the economics of language. The term “economics of language“ is defined by François Grin, to be “the paradigm of mainstream theoretical economics and uses the concepts and tools of economics in the study of relationships featuring linguistic variables, it focuses principally, but non exclusively, on those relationships in which economic variables also play a part”.
US Institutions still Dominant As well as the headline ranking, anyone interested can use the sandbox ranking to define which years, countries or journals should be taken into account. Sorting the data by country and year, and based on contributions to all of the 62 journals sampled, the unsurprising dominance of US scholars in the field is confirmed pretty quickly. US Overtaken in Economics Research Output! More interesting is the convergence in the published contributions between scholars in the US and their counterparts elsewhere. In 2005 economists at US institutions accounted for 51.9% of contributions. By 2008 this had dropped to 47.9%, before recovering slightly to around 48.4% in 2010 and 2011. In dropping below the 50% mark, the rest of the world can be said, with but a tip of the tongue in one’s cheek, to have caught up in terms of annual contribution to the academic literature in economics. The increased output from scholars based in Europe, whose contributions accounted for almost 36% in 2011, up from less than 33% in 2004, accounts for much of this shift. BRIC: Up? Looking just at the BRIC countries, still minnows when placed in the context of the USA and Europe, the gradual advance in the share of contributions made to international journals, especially of China and Brazil, can be seen more clearly. Academics at Russian and Indian institutions on the other hand, seem to be struggling either to produce quality research, or at least to get published. Tempting job offers at American and European universities for top graduates from these countries might be a factor in this. Rise of China The academic rise of China is much discussed, with the PhD output across all subjects now surpassing the USA in terms of number of graduates (see this article in Nature from April 2011 for a nice overview). In terms of contribution to international economics literature, Chinese institutions are still some way behind their American and European counterparts. Quite interesting, however, is the growth of output since 2004. Taking 2004 as a baseline, the output of academics at Chinese institutions, with 81 published contributions, represents over a 100% increase compared to the 37 contributions in 2004. The disparity between the US, Europe and the rest remains huge, however the numbers are interpreted. The insights offered by the Tilburg rankings, though, are worth a look, and in the coming years may start to show clearer trends if and when Chinese institutions, in particular, manage to increase their global reputation in the academic field of economics. All data aggregated from the Tilburg University Research Rankings, based on authorship of articles and proceedings in 62 economics-relevant journals, according to the ISI Web of Knowledge v4.6.
The Tilburg University Economics Ranking Sandbox For anyone that doesn’t know it, the Tilburg University Economics Ranking, which ranks economics departments based on contributions to articles published in any one of 62 (mostly English-language) economics-related journals, is well worth a look.
Free Education to Replace Skyrocketing Tuition Fees?
In response to this, many cheap(er) and free options have sprung up to tackle the question of learning for those who either cannot afford or do not want to pay the ever increasing fees. One tool that is consistent in this effort to circumnavigate fees is the Internet. By cutting the tradition costs of infrastructure, institutions can offer similar services for a cheaper cost. Also evident is the idea of crowdsourcing education. Below is a short list of some of the free alternatives from institutes, both new and old, to tackling the rising prices of education. 1) University of the People: According to their website, UoPeople is “the world’s first tuition-free online university dedicated to the global advancement and democratization of higher education.” UoPeople is structured as an online university offering undergraduate degrees (non-accredited) in Business and Computer Science, with additional courses in Arts and Sciences including Intro to Economics, Intro to Stats, and Statistical Interference. With some big name partners who knows whether or not this will be a model that will continue for both them and copycats in the future. 2) MIT Open Courseware: MIT has taken a different approach towards alleviating some of the costs of higher education by offering all of their courseware free to the world. While their ‘About Us’ makes it very clear that this courseware does not grant any degrees or other credential from MIT, it does provide supplementary information for those interested in brushing up or getting some background on a subject. 3) Both Yale and Harvard offer a similar programs: Yale Open Courses and Harvard Open Courses where they have videos of a number of their professors teaching popular entry level courses. 4) Open Culture: With the tag line: ‘The best free cultural & educational media on the web,’ I was curious to see what they had to offer. I came across and entire section called ‘Economics: Free Courses.’ The website links to iTunes, Youtube and download options for all sorts of courses, including an Intro to Economics by UC Berkley’s Brad Delong, ‘Lectures on Human Capitol’ by Gary Becker of UC Chicago, and ‘Financial Theory’ by John Geanakoplos of Yale. 5) Udemy: A platform where anyone and everyone can both upload and teach a course, as well as take part in courses. It covers a wide range of topics and levels of education most of which are free, although there are a number of courses that are up to $200 to take. A quick search for courses with the keyword ‘economics’ brings up 26 separate courses including ‘Economics 159: Game Theory with Ben Polak’ a 24-lecture series which currently has 1343 subscribers and ‘Economics of Energy and the Environment’ a 22-lecture series with 1278 subscribers. While all of these portals offer interesting and useful information, there are few people who would try and argue that these will be taking the place of traditional institutions any time soon. One problem that is evident in all of the above listed options is that at the end of the course there is no recognized certificates, credits, or degree. In an Op Ed piece in the Economic Intersection from April 25th, Brooke Falliot assesses the current stigmas associated with on-line higher education and the economy, particularly the attitude of hiring managers towards online qualifications. If you have had any experience with the above listed institutes/portals or similar ones we would love to hear about it. Photo Credit: uniinnsbruck (published under license: CC BY-NC 2.0)
The cost of education varies enormously depending on what one studies and where. In the last few years, there has been plenty of hype about the ‘Higher Education Bubble,’ brought to the attention of the media by the Economist last year. This phenomena seems to be particularly prominent in the business-oriented fields worldwide and as an overarching situation in the US.
Economics: It's not just about the money?
On Facebook, for example, we got 3 very different and equally interesting answers from INOMICS followers: 1) “In order to de-ideologize (sic) economic reasoning.” 2) “The jobs you can get are interesting, fun, and you can actually make a difference!” 3) “I studied economics to help further my background in logistics.” To get a further look, I approached the world of YouTube where I found a plethora of videos about why one should study economics. Here are some of the more prominent answers that I have come across thus far: To figure out and explain how the world works To understand the modern market economy To understand how and why financial crises occur Because it is applicable to everything To solve poverty To create an informed opinion To have the foundation to start my own business ‘Economics means success’ Opens a lot of doors for future careers in policy and government It is a good background for careers in finance and, of course, to make money! *You can find all of the videos from which these quotes are pulled on our YouTube channel at: http://www.youtube.com/user/INOMICSvideos Do you have a particular reason as to why you chose economics? Please leave it in the comment section below! Photo Credit: Saulo Cruz
The move from high school to university or college can be a daunting one, often made more difficult by the question ‘what am I going to study.’ This is naturally influenced by personal interests, past experiences, parents, friends, and teachers, but when it comes down to it, it is the student that has to decide what is interesting for them. I have taken a troll around the Internet to see what people have to say in favour of studying economics and come up with some interesting answer.
The big twist is that while the winner pays up and wins the $20, the loser still has to pay his last bid and get nothing. This addition changes the entire dynamic of the experiment as soon as the betting comes down to the last two people – both of whom are going to have to pay up, but only one of whom is going to get anything for it. This brings us to the purpose of the experiment: that point when students realize that they are no longer playing to win, but rather, they are playing not to lose. The $204 for a $20 bill is the extreme, albeit true, example of what happens when people get so scared of losing that they do the irrational and continue throwing money into the pot instead of cutting their losses before it gets out of control. It would be great if this only happened in this one, fairly harmless (except for the poor sod who paid $204 in an effort to try and save his pride), example, but, as many people know, this kind of behaviour sneaks into all sorts of corners in our lives both personal and academic. I guess this leads the question: can we avoid it? Or are we stuck waiting for the next slip? In an effort to explain this phenomenon referred to as ‘Sway,’ Ori Brafman, co-author of “Sway:” The Irresistible Pull of Irrational Behaviour in an interview with Alvaro Fernandez of the Huffington Post, defined it as “why perfectly rational people make irrational choices.” Unfortunately for most of us, however, the answer to the aforementioned question is no, we cannot avoid it. It is a phenomenon that affects just about everyone in every walk of life. Have you ever been in this position? Can you sense it coming on and when do you realize that you are too far in? Photo Credit: 401K
Every year, Max Bazerman, a Harvard Business School professor runs the exact same experiment with his students. In short form, he auctions off a $20 bill but places strict rules on how the betting can take place regulating who pays, and who wins.
How To Deal With Nervousness During Presentations At a Conference
Advance Preparation The very best way to keep your nerves under control is to have practised your entire presentation from beginning to end beforehand, at least once. A few days before your presentation, recruit a friend or two to sit with you and be your audience. You can practise in an empty lecture hall or classroom if one is available and if that will help you to feel more comfortable. But it's also fine to practise at your house, or even in a cafe or bar if you bring a laptop with you. Run through your whole presentation, including slides, and take note of any areas where you struggled to find the right words or weren't sure what topic to speak on next. That way, you can know which specific topics or slide you need to remind yourself of. However, it's important not to over-rehearse. You don't need to have your entire presentation memorised, and in fact doing so will only make your presenting style appear stilted and unnatural. You should be familiar with the material you're presenting (and if your presentation is about your research, you are likely to already be as familiar with the material as you need to be), and be able to anticipate some questions or criticisms that your audience might have. But remember that you are already an expert in this area – hence why you're presenting on it at a conference. There's no need to attempt to cram lots of extra information into your brain the day before a presentation; rather, let the knowledge that you already have guide you in how you present. Immediately Before You Present One issue that is almost bound to arise when you present, and can be very stressful, is problems with the computer, projector, or slides which you have prepared. Between different file formats, different laptop adaptors, and the difficulty in getting video or sound effects to work correctly in your presentation space, there is a lot that can go wrong. The best way to deal with this is to make sure you've tested out all of the equipment earlier in the day before your presentation. Don't wait until 10 minutes before you begin in order to test! If there are problems, you need to know earlier so that you can find the correct adaptor, get help from IT support, and so on. If you're presenting in the afternoon, find a time in the morning at which you can test. If you're presenting in the morning, arrive very early, or consider testing the day before. That way you won't have any last-minute technical problems to deal with. While Presenting It's common to feel flustered, hyper-vigilant, or a bit overwhelmed when you start to present. The best solution for this is to give yourself the opportunity to take a few seconds to get yourself together. A good way of achieving this is to have a bottle of water in front of you – if you feel yourself getting overwhelmed, stop talking and have a drink of water and take a deep breath before you continue. It might feel to you as if you are standing in front of everyone and doing nothing for ages, but don't worry, it's only a few seconds and won't feel that long to the audience. Another common problem is feeling like you don't know where to put your hands, or what to do with your body. If there is a lectern or podium in front of you, then make use of it – rest your hands on either side and grip it gently, which will help to make you feel grounded. If there's no lectern, then a good tip is to gently squeeze together your thumb and index finger while you're speaking; this pressure will help as an outlet for your nervousness which your audience won't notice. Finally, one great way to reassure yourself during a presentation is to find a friendly face in the audience who you can can look to when you're feeling unsure. If possible, ask a friend or colleague to come along, and catch their eye when you need to. Otherwise, pick an audience member who seems open and friendly and look at them – the point is to think of your audience as a collection of friendly people, rather than as a singular scary judging entity. When you can keep your nerves under control, your presentation will be more fun for you and more engaging for your audience. We hope these tips help! You can find all the latest conference opportunities for your field on our website. Header Image Credit: Shutterstock (licensed image - copyright)
You've been accepted to give a talk at a conference, you've worked on your presentation, and you're ready to go – now you just need to keep your nerves under control! It's very common to struggle with nervousness when presenting, so consider these tips to help you deal with this.
Vienna Graduate School of Finance (VGSF)
The Vienna Graduate School of Finance (VGSF) is a center of excellence for finance. Located in Vienna (Austria), it was founded by the Institute for Advanced Studies (IHS), the University of Vienna, and the WU (Vienna University of Economics and Business). These three institutions joined forces, and their expertise, to create a hub in Vienna aiming to produce internationally recognized research and provide a competitive PhD education. VGSF offers a structured, full-time PhD program in Finance. We offer a stimulating learning and research environment and financial support to outstanding students from around the world. Our faculty includes professors and junior faculty from IHS, the University of Vienna, and the WU. They are distinguished professionals, in their area of research, who publish in prominent journals. VGSF regularly invites leading scholars to teach courses and to present their current work. Our graduates can look forward to a rewarding career at leading academic institutions. For further information: www.vgsf.ac.at/phd-structure www.vgsf.ac.at/application www.vgsf.ac.at/faculty www.vgsf.ac.at/placements
Utrecht University is an international research university of the highest quality and the alma mater of many leading names, academics and scientists who have made an important contribution to the quality of society. FACULTIES Utrecht University boasts seven faculties and three teaching institutes. FACULTIES Each faculty consists of a number of departments. Each department coordinates the research and teaching programmes of a specific field of science. Scientific staff are appointed at department level. Faculty of Geosciences Faculty of Humanities Faculty of Law, Economics and Governance Faculty of Medicine Faculty of Science Faculty of Social and Behavioural Sciences Faculty of Veterinary Medicine TEACHING INSTITUTES University College Roosevelt University College Utrecht Centrum voor Onderwijs en Leren (website in Dutch) WORKING AT UTRECHT UNIVERSITY At Utrecht University, we work together towards a better future for all of us. With our more than 6,000 members of staff, we provide socially relevant research and high-quality education. The university is an actively involved and committed part of our society, with the added value of an open mind about societal issues. We cooperate with other (international) universities, trade and industry, the authorities, the cultural sector and societal organisations. Working at Utrecht University means working at the best university in the Netherlands. At Utrecht University we strive to: Provide an unambiguous, challenging and sound work environment for all our staff; a work environment which boasts an open and transparent culture that puts quality before quantity; Encourage the personal and professional development of all our members of staff, scientific as well as support and administrative staff, and to provide a perspective that fits the developments within and outside of our organisation. Read more about working at Utrecht University STUDYING AT UTRECHT UNIVERSITY Utrecht University stands for broad and interdisciplinary education. Students at Utrecht University learn to look beyond the boundaries of their fields of study and work together in interdisciplinary projects. The education programmes are modern and innovative. Students and high-ranking scientists work together on a better future. Broad education programmes: Study programmes PhD programmes Education for professionals Training and other education Read more about studying at Utrecht University UNIVERSITY HALL Located in Dom Square in the centre of Utrecht, the University Hall is more than just a monument. It is Utrecht University’s ceremonial heart and its public face. Academic ceremonies including PhD ceremonies, inaugural lectures and the awarding of undergraduate and graduate diplomas, all take place at the University Hall. The location also provides for conferences, meetings, dinners and cultural events. STUDENT SERVICES Tel. +31 30 253 70 00 Email: studentservices@uu.nl Postal address: PO Box 80125, 3508 TC Utrecht Visitors: weekdays from 10.00 am to 16.00 pm: UU for U, Student Services, Heidelberglaan 6, 3584 CS Utrecht (between Casa Confetti and StudyStore) See also the student site
Public Economics & Economic Policy (JEL H)
Economic Development, Innovation and Growth (JEL O)
Urban, Rural and Transportation Economics (JEL R)
Econometrics, Statistics and Quantitative Methods (JEL C)
Agricultural and Environmental Economics (JEL Q)
About the journal The Review of Economics and Statistics is a 100-year-old general journal of applied (especially quantitative) economics. Edited at the Harvard Kennedy School, the Review has published some of the most important articles in empirical economics. From time to time, the Review also publishes collections of papers or symposia devoted to a single topic of methodological or empirical interest. Impact Measures: Impact Factor 4.345 (2019 Journal Citation Reports) #10 in Economics (2019 Google Scholar Metrics) #2 in Social Sciences (Miscellaneous); #16 in Economics and Econometrics (2019 SCImago Journal & Country Rank, Indicator: 7.538) The Review of Economics and Statistics offers access to “Just Accepted” manuscripts and uncorrected proofs of articles before they are published. Learn more about Just Accepted and Early Access. Latest Issue Volume 103, Issue 1 March 2021 Impact Factor 4.345 Editors Olivier Coibion, Raymond Fisman (Co-Chair), Benjamin R. Handel,Rema N. Hanna (Co-Chair), Brian A. Jacob, Shachar Kariv, Xiaoxia Shi, Daniel Yi Xu Purchase and pricing information The personal subscription price starts at $84 ($45 for students). The institutional subscription price starts at $713. Subscriptions are entered for the volume year only. Shipping outside of the US and Canada is an additional $35.00 per year for print subscriptions. Canadians pay 5% GST on all subscriptions. Information for authors Find more information on this page. Abstracting and indexing services Review of Economics and Statistics is abstracted and/or indexed in the following services: ABI/INFORM ABI/INFORM Global ABI/Inform Research ABI/Inform Select Academic OneFile Advanced Placement Source America: History and Life Business & Company Resource Center Business ASAP Business Index Business Module Business Source Business Source Alumni Edition Business Source Complete Business Source Corporate Business Source Elite Business Source Premier CNKI, China Corporate ResourceNet Current Abstracts Current Contents Current Index to Statistics (Online) Dietrich's Index Philosophicus EBSCO Discovery EconLit Electronic Collections Online Energy & Power Source Ex Libris Primo Expanded Academic ASAP General Business File ASAP General OneFile General Reference Center Health Business Elite Human Resources Abstracts IBZ - Internationale Bibliographie der Geistes- und Sozialwissenschaftlichen Zeitschriftenliteratur InfoTrac Journal of Economic Literature Magazine Index Plus Management Contents OCLC Discovery Peace Research Abstracts Periodicals Index Online Political Science Complete Professional ABI/INFORM Complete Professional ProQuest Central ProQuest 5000 ProQuest 5000 International ProQuest Central ProQuest Research Library ProQuest Summon Public Affairs Index PubMed RILM Abstracts of Music Literature Scopus Scimp SocIndex Social Sciences Citation Index Student Resource Center College TOC Premier Trade & Industry Index Web of Science Women's Studies International World Banking Abstracts
About the journal The American Economic Review is a general-interest economics journal. Established in 1911, the AER is among the nation's oldest and most respected scholarly journals in the economics profession and is celebrating over 100 years of publishing. The journal publishes 12 issues containing articles on a broad range of topics. Latest Issue Volume 111, Issue 3 March 2021 Impact Factor 5.558 Editor Esther Duflo Purchase and pricing information Individuals can have online access to all AEA journals by joining the AEA. Learn more here. Institutional Subscriptions to AEA Journals Subscription options and rates: 2020/2021 Print Only: $700 (to US address); $850 (to non-US address) Print plus electronic site* license: $1,250 (to US address); $1,400 (to non-US address) Electronic site* license only: $950 (to US and non-US) (Only available directly from AEA, no agency orders) *Sites are defined as campuses within a six-mile radius, as well as authorized remote users accessing the online journals through the campus IP address. Remote campuses beyond a six-mile radius must purchase a separate subscription regardless of the location of the administration. Information for authors Any paper submitted to the American Economic Review should NOT be under consideration for publication at another journal. All submitted papers must also represent original work, and should fully reference and describe all prior work on the same subject and compare the submitted paper to that work. Authors should familiarize themselves with how we handle conflicts of interest between authors and coeditors, as described in our Editorial Policy and disclose any potential personal conflicts in an accompanying cover letter. In an effort to prevent plagiarism, the American Economic Association subscribes to CrossCheck to screen its submissions. CrossCheck has a "database of current and archival scholarly literature" and uses the iThenticate tool to "compare authored work against the content in the database and highlight matching or similar text for further editorial review." Submission to AEA journals implies permission of the Association to check the submission electronically for plagiarism, using the CrossCheck system. Submission fees must be paid by credit card at the time of submission. We are unable to review manuscripts that have been previously rejected by the AER. The AER reserves the right to reject papers without review. Papers rejected without review will receive a 50% refund of the submission fee. Effective July 1, 2012: All submissions, including revisions, must be accompanied by a Disclosure Statement. This is applicable even when the authors have no relevant interests to disclose. Authors will need to provide a separate Disclosure Statement for each coauthor at the time of submission. The statements will also need to disclose whether IRB approval was obtained for the project, and if not, state the reason(s). Submissions that do not include the statements will be considered incomplete and will not be reviewed. More guidelines here
About the journal The Journal of Financial Economics (JFE) is a leading peer-reviewed academic journal covering theoretical and empirical topics in financial economics. It provides a specialized forum for the publication of research in the area of financial economics and the theory of the firm, placing primary emphasis on the highest quality analytical, empirical, and clinical contributions in the following major areas: capital markets, financial institutions, corporate finance, corporate governance, and the economics of organizations. Latest Issue Volume 140, Issue 1 April 2021 Business Finance Rankings 3 Economics Rankings 8 Impact Factor 5.731 5-Year Impact factor 8.804 Managing Editor G. William Schwert Purchase and pricing information For 2019, four volumes (135-138) will be published. The personal subscription price will be US$ 199. Subscriptions are accepted on a calendar year basis. Orders must be placed with the publisher (Elsevier Science). Go to subscription information The institutional subscription price will be US$ 6,011. Subscriptions are accepted on a prepaid basis only and are entered on a calendar year basis. Go to institutional subscription information Submitting to the JFE The Journal of Financial Economics provides a specialized forum for the publication of research in the area of financial economics and the theory of the firm, placing primary emphasis on the highest quality analytical, empirical, and clinical contributions in the following major areas: capital markets, financial institutions, corporate finance, corporate governance, and the economics of organizations. Submission Policy Unsolicited manuscripts must be accompanied by a submission fee of $900 for authors who are current personal subscribers to the Journal of Financial Economics and $1,000 for non-subscribers (institutional subscriptions do not count). To encourage quicker response, referees are paid an honorarium out of the submission fee. There are no page charges. The submission fee is refunded on the last submission if the paper is accepted for publication in the JFE . For non-subscribing authors who wish to subscribe to the Journal of Financial Economics , you can subscribe at the North-Holland web site . After submitting your subscription to Elsevier, send the subscriber fee of $900 with proof of subscription (a copy of the subscription order form) and your manuscript to the E-mail address of the Editorial Office. All submissions must be in the form of email attachments that are either Microsoft Word or Adobe PDF files. Further details are available here . Payment may be made using Paypal . Alternatively, the submission fee can be paid by check made payable to the Journal of Financial Economics , but it must be drawn on a U.S. Bank and in U.S. currency. Or, you can send money using Zelle. If your paper is accepted for publication, you will be expected to agree to the JFE replication policy.
About the journal The Journal of Accounting and Economics encourages the application of economic theory to the explanation of accounting phenomena. It provides a forum for the publication of the highest quality manuscripts which employ economic analyses of accounting problems. A wide range of methodologies and topics are encouraged and covered: * The role of accounting within the firm; * The information content and role of accounting numbers in capital markets; * The role of accounting in financial contracts and in monitoring agency relationships; * The determination of accounting standards; * Government regulation of corporate disclosure and/or the Accounting profession; * The theory of the accounting firm. Latest Issue Volume 71, Issue 1 February 2021 Impact Factor 3.723 5-Year Impact factor 6.700 Editors J. Core, W.R. Guay, M. Hanlon, R.W. Holthausen, M. Lang, J. S. Wu Purchase and pricing information The personal subscription price will be €140. Subscriptions are accepted on a calendar year basis. Go to subscription information The institutional subscription price will be €2555. Subscriptions are accepted on a prepaid basis only and are entered on a calendar year basis. Go to institutional subscription information Benefits to authors We also provide many author benefits, such as free PDFs, a liberal copyright policy, special discounts on Elsevier publications and much more. Please click here for more information on our author services. Please see our Guide for Authors for information on article submission. If you require any further information or help, please visit our Support Center.
University of Split, Faculty of Economics, Business and Tourism
Mission:<o:p></o:p> The Faculty of Economics and Business of the University of Split is a higher education institution in the fields of economics, business and tourism representing public interest, fostering the culture of socially responsible behavior, enhancing the quality of scientific research, teaching and professional work, as well as lifelong learning for the benefit of students and employees, economy and society as a whole.<o:p></o:p> Vision:<o:p></o:p> The Faculty of Economics, Business and Tourism in Split is a functionally integrated institution of the University of Split, with legal personality. The Faculty is an internationally recognized higher education and research institution. With its university and professional study programs, as well as lifelong learning programs, high quality study conditions, the institution guarantees the education of top experts capable of qucik and successfull integration in the global labor market. With the high level of quality of its educational programs and research and with the strengthening of partnerships with other higher education and research institutions in the country and abroad, it contributes to the transfer of knowledge, the raising of competencies and the overall economic and social development. The faculty is a community of highly motivated and satisfied students and employees, focused on developing personal competencies and monitoring the career development of their students.<o:p></o:p> Core Values:<o:p></o:p> Knowledge<o:p></o:p> Excellence<o:p></o:p> Innovation<o:p></o:p> Responsibility<o:p></o:p> Ethics<o:p></o:p> Openness<o:p></o:p>
The Pompeu Fabra University, a research-oriented public university with an international outlook, has joined the ranks of the best universities in Europe. In the THE ranking, it is the top university in Spain (143rd in the world and 60th in Europe) and the 10th best university in the world among those less than 50 years old (5th in Europe). The UPF Barcelona School of Management is the management school of a great university, Pompeu Fabra University. We share the virtues of this internationally recognized university which focuses on excellence in teaching and research. Our intention is to contribute to the development of management and the people who will put it into practice. We train professionals capable of managing companies and institutions, leading projects with a global vision. People who seek to add value, innovate, and transform society from a commitment to culture and planetary well-being. Welcome to On-Campus&Live You can attend class in person or 100% remotely with the same educational guarantees. Modality enriched with elements of the online programs Master classes and personal mentor Face-to-face sessions with active methodologies for transferable learning Same teaching calendar and schedule Why choose us? We connect the university with business through innovation, social transformation and research. Our vision of management is strategic and people-centred, based on the best international practice. We provide solutions to the challenges facing business, social and institutional communities with a view to transferring the results to society and generating knowledge and economic and social impact. We offer an active, personalized and multi-disciplinary approach to learning which prepares students to become professionals with the skills to adapt to constantly changing circumstances. We have a culture based on values that include ethics, social responsibility, rigour, sustainability, diversity, humanism and culture; a creative, transformational vision that aspires to excellence in teaching, research and the transfer of knowledge. International vocation with a global view of the challenges of the future UPF Barcelona School of Management’s international outlook is based on building a global view of the challenges of the future. All the School’s areas and activities work transversally to ensure UPF Barcelona School of Management is an international endeavour, leading to a wide, universal view of course content, so that it can be shared with teachers, managers and students worldwide. UPF-BSM, as an extension of the UPF, has earned wide international recognition for the excellence of its teaching and research work.
About the journal The Review of Financial Studies is a major forum for the promotion and wide dissemination of significant new research in financial economics. As reflected by its broadly based editorial board, the Review balances theoretical and empirical contributions. The primary criteria for publishing a paper are its quality and importance to the field of finance, without undue regard to its technical difficulty. Finance is interpreted broadly to include the interface between finance and economics. The Review is sponsored by The Society for Financial Studies. The editors of the Review and officers of the Society are elected for limited terms. Impact Factor 4.649 5 year Impact Factor 7.100 Executive Editor Itay Goldstein View full editorial board Purchase and pricing information Institutional subscriptions starting at €779 and corporate subscriptions at €2098. For single issues purchase, please check the journal website. Unless otherwise stated, all personal and member print subscriptions include online access to current content. All subscriptions are entered on a calendar year basis running from January to December. For subscriptions that include access to online content, access will not become effective until the subscription has commenced. OUP normally stocks print single issues from the current and previous year. Limited stock may be available to purchase for older issues. Older issues not listed as available for purchase here may be available from Periodicals Service Company. An Institutional or Corporate subscription may be used by multiple individuals within an organisation. A Personal subscription may only be used by the individual subscriber for personal use. Full pre-payment in the correct currency is required for all orders: USD ($) for orders delivered to USA, Canada, Mexico, Central, South and Latin America EUR (€) for orders delivered within Europe (excluding UK) GBP (£) for orders delivered elsewhere All orders are regarded as firm and subscription payments are not refundable after the first issue has been dispatched or online access has been activated. All prices shown above are exclusive of any taxes and include standard delivery. Any rates above not available for online purchase can be ordered by contacting your nearest Customer Service office. It is not possible to renew an expired/lapsed subscription. If your subscription has expired please choose 'buy subscription' option. More Information available here. Information for authors For further information about The Review of Financial Studies and the Society for Financial Studies, please visit the SFS site. Publication ethics and submission information Authors should observe high standards with respect to publication ethics as set out by the Committee on Publication Ethics (COPE) and International Committee of Medical Journal Editors (ICMJE). Falsification or fabrication of data, plagiarism, including duplicate publication of the authors' own work without proper citation, and misappropriation of the work are all unacceptable practices. Any cases of ethical misconduct are treated very seriously and will be dealt with in accordance with the COPE guidelines. Abstracting and indexing services The Review of Financial Studies is covered by the following abstracting/indexing services: Current Contents® /Social and Behavioral Sciences EconLit Finance Literature Database IBSS International Bibliography of the Social Sciences Journal Citation Reports /Social Sciences Edition Periodicals Index Online (PIO) PROQUEST DATABASE : ABI/INFORM Archive Complete PROQUEST DATABASE : ABI/INFORM Complete PROQUEST DATABASE : ABI/INFORM Global PROQUEST DATABASE : ABI/INFORM Research PROQUEST DATABASE : Banking Information Source PROQUEST DATABASE : Magazines PROQUEST DATABASE : ProQuest 5000 PROQUEST DATABASE : ProQuest 5000 International PROQUEST DATABASE : ProQuest Central PROQUEST DATABASE : ProQuest Discovery PROQUEST DATABASE : ProQuest International Academic Research Library PROQUEST DATABASE : ProQuest News & Magazines PROQUEST DATABASE : ProQuest Pharma Collection PROQUEST DATABASE : ProQuest Research Library RePEc (Research Papers in Economics) Scopus Social Science Research Network (SSRN) Social Sciences Citation Index® Social Scisearch®
Journal of Business Finance & Accounting
About the journal Journal of Business Finance & Accounting publishes high quality research papers in accounting, corporate finance, corporate governance and their interfaces. JBFA sponsors an annual Capital Markets Conference, with conference papers being published in a Special Issue each year. JBFA has been published since 1974 and is included in the Social Science Citation Index and Current Contents/Social & Behavioral Sciences. Latest Issue Volume 48, Issue 1-2 January/February 2021 Impact Factor 1.473 Editors Peter F. Pope and Andrew Stark Purchase and pricing information The personal subscription price is €240. Go to subscription information The institutional subscription price starts at €2123. Go to institutional subscription information Aims and scope Journal of Business Finance and Accounting exists to publish high quality research papers in accounting, corporate finance, corporate governance and their interfaces. The interfaces are relevant in many areas such as financial reporting and communication, valuation, financial performance measurement and managerial reward and control structures. A feature of JBFA is that it recognises that informational problems are pervasive in financial markets and business organisations, and that accounting plays an important role in resolving such problems. JBFA welcomes both theoretical and empirical contributions. Nonetheless, theoretical papers should yield novel testable implications, and empirical papers should be theoretically well-motivated. The Editors view accounting and finance as being closely related to economics and, as a consequence, papers submitted will often have theoretical motivations that are grounded in economics. JBFA, however, also seeks papers that complement economics-based theorising with theoretical developments originating in other social science disciplines or traditions. While many papers in JBFA use econometric or related empirical methods, the Editors also welcome contributions that use other empirical research methods. Although the scope of JBFA is broad, it is not a suitable outlet for highly abstract mathematical papers, or empirical papers with inadequate theoretical motivation. Also, papers that study asset pricing, or the operations of financial markets, should have direct implications for one or more of preparers, regulators, users of financial statements, and corporate financial decision makers, or at least should have implications for the development of future research relevant to such users. All article submissions should be made online - see the author guidelines for further information. Information for authors Once you have prepared your submission in accordance with the Guidelines, manuscripts should be submitted online at http://mc.manuscriptcentral.com/jbfa. The submission system will prompt you to use an ORCID iD (a unique author identifier) to help distinguish your work from that of other researchers. Click here to find out more. Click here for more details on how to use ScholarOne. For help with submissions, please contact: JBFAedoffice@wiley.com. We look forward to your submission. Submission fee A submission fee of 200 US dollars is required, to be paid by credit or debit card (via PayPal) as part of the online submission process. After submitting your article, you will receive an email with instructions and a link to the PayPal site. Please email the Editors on editors.jbfa@gmail.com once you have made the payment, quoting the JBFA manuscript number, together with the name and email address of the person making the payment to PayPal. An electronic receipt will be emailed to the author(s) on completion of the electronic submission process and payment of the submission fee. Data Protection By submitting a manuscript to or reviewing for this publication, your name, email address, and affiliation, and other contact details the publication might require, will be used for the regular operations of the publication, including, when necessary, sharing with the publisher (Wiley) and partners for production and publication. The publication and the publisher recognize the importance of protecting the personal information collected from users in the operation of these services, and have practices in place to ensure that steps are taken to maintain the security, integrity, and privacy of the personal data collected and processed. You can learn more at https://authorservices.wiley.com/statements/data-protection-policy.html. More information here Abstracting and Indexing Information ABI/INFORM Collection (ProQuest) Accounting, Tax & Banking Collection (ProQuest) Business ASAP (GALE Cengage) Business Premium Collection (ProQuest) Current Contents: Social & Behavioral Sciences (Clarivate Analytics) EconLit (AEA) Emerald Management Reviews (Emerald) Expanded Academic ASAP (GALE Cengage) InfoTrac (GALE Cengage) Journal Citation Reports/Social Science Edition (Clarivate Analytics) Periodical Index Online (ProQuest) Proquest Business Collection (ProQuest) ProQuest Central (ProQuest) ProQuest Politics Collection (ProQuest) ProQuest Sociology Collection (ProQuest) RePEc: Research Papers in Economics SCOPUS (Elsevier) Social Science Premium Collection (ProQuest) Social Sciences Citation Index (Clarivate Analytics)