Burgernomics (2nd Edition): The Academic Guide and Workbook - Couverture souple

Reay, Richard

Couverture souple

ISBN 10 : 0992162378 ISBN 13 : 9780992162375

Editeur : Richard Reay, 2018

Synopsis

What initially started out as a wacky concept is now being used to explain some very serious Economic theories. The Big Mac Index was first published over 30 years ago by The Economist magazine, (Woodall, 1986) as a relatively simple way to calculate the over and undervaluation of currencies against the US dollar. The Big Mac Index is based on the theory of purchasing power parity (PPP). However, instead of using the price of a basket of goods and services to compare the PPP between countries, the Big Mac Index uses the price of a McDonald’s Big Mac hamburger as the benchmark.Since being published the Big Mac Index has been updated semi-annually, becoming the best-known regular feature in The Economist magazine. The Index has devised new words such as “Burgernomics”, “Big Maconomics” as well as “McWages” referring to wage rates at McDonald’s.The Big Mac Index was invented in the endeavor of applying the economic theory to actual goods. It was never intended as a precise measure of currency misalignment, but only as a tool to make exchange-rate theory more easily digestible. Yet, unexpectedly, the Big Mac Index has become a universal standard and is now the subject of countless academic studies, economics lectures and featured in numerous economic textbooks. Nevertheless, whether you believe the index is a valid currency evaluation tool or merely just an amusing way to compare purchasing powers in different economies, what cannot be denied is the Big Mac Index opens up a wide variety of academic applications for teaching fundamental economics in a fun, inventive way in the classroom.This workbook utilizes the Big Mac Index, Consumer Price Index, Purchasing Power Parity theory and other evaluation tools to explain essential economics through practice activities and calculation exercises.

Détails de l'édition

• Éditeur: Richard Reay
• Date d'édition: 2018
• Langue: anglais
• ISBN 10: 0992162378
• ISBN 13: 9780992162375
• Reliure: Broché
• Nombre de pages: 105
• Coordonnées du fabricant: Manufactured by Amazon on behalf of the author; https://www.amazon.fr/hz/contact-us; ; c/o Amazon Media EU S.à.r.l., 38 Avenue John F. Kennedy; Luxembourg; L-1855; Luxembourg