• Summary
  • Contents
  • Subject index

Interest in economics is at an all-time high. Among the challenges facing the nation is an economy with rapidly rising unemployment, failures of major businesses and industries, and continued dependence on oil with its wildly fluctuating price. Economists have dealt with such questions for generations, but they have taken on new meaning and significance.Tackling these questions and encompassing analysis of traditional economic theory and topics as well as those that economists have only more recently addressed, 21st Century Economics: A Reference Handbook is a must-have reference resource.Key FeaturesProvides highly readable summaries of theory and models in key areas of micro and macroeconomics, helpful for students trying to get a "big picture" sense of the fieldIncludes introductions to relevant theory as well as empirical evidence, useful ...

Portfolio Theory and Investment Management
Portfolio theory and investment management

The objective of this chapter is to help readers understand theories of portfolio management. Investment, as opposed to consumption, is the commitment of funds that the investor believes will appreciate in value over time and will provide a return that is sufficient for assuming risk and for exceeding the effects of inflation.

Portfolio Theory

This chapter begins by reviewing theories of investment and portfolio management that have been prevalent throughout the twentieth century. First, it reviews the firm foundation theories of Benjamin Graham and David Dodd, developed in their seminal book, Security Analysis, published in 1934. Following Graham and Dodd was John Burr Williams's (1938) theory of investment value, which added further sophistication to the Graham and Dodd ...

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