Freakonomics: A Rogue Economist Explores the Hidden Side of Everything

by Steven D. Levitt and Stephen J. Dubner

Economics is not widely considered to be one of the sexier sciences. The annual Nobel Prize winner in that field never receives as much publicity as his or her compatriots in peace, literature, or physics. But if such slights are based on the notion that economics is dull, or that economists are concerned only with finance itself, Steven D. Levitt will change some minds. In Freakonomics (written with Stephen J. Dubner), Levitt argues that many apparent mysteries of everyday life don't need to be so mysterious: they could be illuminated and made even more fascinating by asking the right questions and drawing connections. For example, Levitt traces the drop in violent crime rates to a drop in violent criminals and, digging further, to the Roe v. Wade decision that preempted the existence of some people who would be born to poverty and hardship. Elsewhere, by analyzing data gathered from inner-city Chicago drug-dealing gangs, Levitt outlines a corporate structure much like McDonald's, where the top bosses make great money while scores of underlings make something below minimum wage. And in a section that may alarm or relieve worried parents, Levitt argues that parenting methods don't really matter much and that a backyard swimming pool is much more dangerous than a gun. These enlightening chapters are separated by effusive passages from Dubner's 2003 profile of Levitt in The New York Times Magazine, which led to the book being written. In a book filled with bold logic, such back-patting veers Freakonomics, however briefly, away from what Levitt actually has to say. Although maybe there's a good economic reason for that too, and we're just not getting it yet. --John Moe

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Financial Engineering Principles:
A Unified Theory for Financial Product Analysis and Valuation

Stock, bonds, cash . . . the investment mind is often programmed. The reality is that most investors think in terms of single asset classes, and allocate money to them accordingly. The unique contribution of First Principles: An Investor's Guide to Building Bridges Across Financial Products is that, for the first time, a single unified valuation approach is available to use for all financial products. This book shows you how to focus on the dynamics of processes and interrelationships of different investment choices, providing the reader with a financial toolbox to equips any investor with the knowledge to de-construct and value any financial product, making it a must if youre a portfolio manager or an individual investors interested in building the optimal portfolio.

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Financial Risk Manager Handbook 2003

A comprehensive reference and training guide for financial risk managementRisk professionals looking to earn the Financial Risk Manager (FRM") certification, corporate training programs, professors, and graduate students all rely on one book for the most comprehensive and up-to-date information on financial risk management-the Financial Risk Manager Handbook. Presented in a clear and consistent fashion, this completely updated Second Edition is the best way to prepare for the Financial Risk Manager (FRM) exam and has become the core text for risk management training programs worldwide.This definitive guide supports candidates studying for GARP's annual FRM exam and prepares you to assess and control risk in today's rapidly changing financial world. Financial Risk Manager Handbook, Second Edition summarizes the core body of knowledge for financial risk managers, covering such topics as quantitative methods, capital markets, as well as credit, operational, market, and integrated risk management. It also discusses relevant regulatory, legal, and accounting issues essential to risk professionals.The FRM is recognized as the world's most prestigious global certification program-created to measure a financial risk manager's capabilities. With the FRM exam fast becoming an essential requirement for risk managers around the world, the Financial Risk Manager Handbook, Second Edition focuses on practical financial risk management techniques and solutions that are emphasized on the test-and essential in the real world. Questions from previous exams are explained through tutorials so that you may prepare yourself or your employees for this comprehensive exam and for the risk management scenarios you will face at some point in your career.

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