1.
Boston
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Boston is the capital and most populous city of the Commonwealth of Massachusetts in the United States. Boston is also the seat of Suffolk County, although the county government was disbanded on July 1,1999. The city proper covers 48 square miles with a population of 667,137 in 2015, making it the largest city in New England. Alternately, as a Combined Statistical Area, this wider commuting region is home to some 8.1 million people, One of the oldest cities in the United States, Boston was founded on the Shawmut Peninsula in 1630 by Puritan settlers from England. It was the scene of several key events of the American Revolution, such as the Boston Massacre, the Boston Tea Party, the Battle of Bunker Hill, and the Siege of Boston. Upon U. S. independence from Great Britain, it continued to be an important port and manufacturing hub as well as a center for education, through land reclamation and municipal annexation, Boston has expanded beyond the original peninsula. Its rich history attracts many tourists, with Faneuil Hall alone drawing over 20 million visitors per year, Bostons many firsts include the United States first public school, Boston Latin School, first subway system, the Tremont Street Subway, and first public park, Boston Common. Bostons economic base also includes finance, professional and business services, biotechnology, information technology, the city has one of the highest costs of living in the United States as it has undergone gentrification, though it remains high on world livability rankings. Bostons early European settlers had first called the area Trimountaine but later renamed it Boston after Boston, Lincolnshire, England, the renaming on September 7,1630 was by Puritan colonists from England who had moved over from Charlestown earlier that year in quest of fresh water. Their settlement was limited to the Shawmut Peninsula, at that time surrounded by the Massachusetts Bay and Charles River. The peninsula is thought to have been inhabited as early as 5000 BC, in 1629, the Massachusetts Bay Colonys first governor John Winthrop led the signing of the Cambridge Agreement, a key founding document of the city. Puritan ethics and their focus on education influenced its early history, over the next 130 years, the city participated in four French and Indian Wars, until the British defeated the French and their Indian allies in North America. Boston was the largest town in British America until Philadelphia grew larger in the mid-18th century, Bostons harbor activity was significantly curtailed by the Embargo Act of 1807 and the War of 1812. Foreign trade returned after these hostilities, but Bostons merchants had found alternatives for their investments in the interim. Manufacturing became an important component of the economy, and the citys industrial manufacturing overtook international trade in economic importance by the mid-19th century. Boston remained one of the nations largest manufacturing centers until the early 20th century, a network of small rivers bordering the city and connecting it to the surrounding region facilitated shipment of goods and led to a proliferation of mills and factories. Later, a network of railroads furthered the regions industry. Boston was a port of the Atlantic triangular slave trade in the New England colonies
2.
Massachusetts
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It is bordered by the Atlantic Ocean to the east, the states of Connecticut and Rhode Island to the south, New Hampshire and Vermont to the north, and New York to the west. The state is named for the Massachusett tribe, which inhabited the area. The capital of Massachusetts and the most populous city in New England is Boston, over 80% of Massachusetts population lives in the Greater Boston metropolitan area, a region influential upon American history, academia, and industry. Originally dependent on agriculture, fishing and trade, Massachusetts was transformed into a manufacturing center during the Industrial Revolution, during the 20th century, Massachusetts economy shifted from manufacturing to services. Modern Massachusetts is a leader in biotechnology, engineering, higher education, finance. Plymouth was the site of the first colony in New England, founded in 1620 by the Pilgrims, in 1692, the town of Salem and surrounding areas experienced one of Americas most infamous cases of mass hysteria, the Salem witch trials. In 1777, General Henry Knox founded the Springfield Armory, which during the Industrial Revolution catalyzed numerous important technological advances, in 1786, Shays Rebellion, a populist revolt led by disaffected American Revolutionary War veterans, influenced the United States Constitutional Convention. In the 18th century, the Protestant First Great Awakening, which swept the Atlantic World, in the late 18th century, Boston became known as the Cradle of Liberty for the agitation there that led to the American Revolution. The entire Commonwealth of Massachusetts has played a commercial and cultural role in the history of the United States. Before the American Civil War, Massachusetts was a center for the abolitionist, temperance, in the late 19th century, the sports of basketball and volleyball were invented in the western Massachusetts cities of Springfield and Holyoke, respectively. Many prominent American political dynasties have hailed from the state, including the Adams, both Harvard University and the Massachusetts Institute of Technology, also in Cambridge, have been ranked among the most highly regarded academic institutions in the world. Massachusetts public school students place among the top nations in the world in academic performance, the official name of the state is the Commonwealth of Massachusetts. While this designation is part of the official name, it has no practical implications. Massachusetts has the position and powers within the United States as other states. Massachusetts was originally inhabited by tribes of the Algonquian language family such as the Wampanoag, Narragansett, Nipmuc, Pocomtuc, Mahican, and Massachusett. While cultivation of crops like squash and corn supplemented their diets, villages consisted of lodges called wigwams as well as longhouses, and tribes were led by male or female elders known as sachems. Between 1617 and 1619, smallpox killed approximately 90% of the Massachusetts Bay Native Americans, the first English settlers in Massachusetts, the Pilgrims, arrived via the Mayflower at Plymouth in 1620, and developed friendly relations with the native Wampanoag people. This was the second successful permanent English colony in the part of North America that later became the United States, the event known as the First Thanksgiving was celebrated by the Pilgrims after their first harvest in the New World which lasted for three days
3.
United States
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Forty-eight of the fifty states and the federal district are contiguous and located in North America between Canada and Mexico. The state of Alaska is in the northwest corner of North America, bordered by Canada to the east, the state of Hawaii is an archipelago in the mid-Pacific Ocean. The U. S. territories are scattered about the Pacific Ocean, the geography, climate and wildlife of the country are extremely diverse. At 3.8 million square miles and with over 324 million people, the United States is the worlds third- or fourth-largest country by area, third-largest by land area. It is one of the worlds most ethnically diverse and multicultural nations, paleo-Indians migrated from Asia to the North American mainland at least 15,000 years ago. European colonization began in the 16th century, the United States emerged from 13 British colonies along the East Coast. Numerous disputes between Great Britain and the following the Seven Years War led to the American Revolution. On July 4,1776, during the course of the American Revolutionary War, the war ended in 1783 with recognition of the independence of the United States by Great Britain, representing the first successful war of independence against a European power. The current constitution was adopted in 1788, after the Articles of Confederation, the first ten amendments, collectively named the Bill of Rights, were ratified in 1791 and designed to guarantee many fundamental civil liberties. During the second half of the 19th century, the American Civil War led to the end of slavery in the country. By the end of century, the United States extended into the Pacific Ocean. The Spanish–American War and World War I confirmed the status as a global military power. The end of the Cold War and the dissolution of the Soviet Union in 1991 left the United States as the sole superpower. The U. S. is a member of the United Nations, World Bank, International Monetary Fund, Organization of American States. The United States is a developed country, with the worlds largest economy by nominal GDP. It ranks highly in several measures of performance, including average wage, human development, per capita GDP. While the U. S. economy is considered post-industrial, characterized by the dominance of services and knowledge economy, the United States is a prominent political and cultural force internationally, and a leader in scientific research and technological innovations. In 1507, the German cartographer Martin Waldseemüller produced a map on which he named the lands of the Western Hemisphere America after the Italian explorer and cartographer Amerigo Vespucci
4.
University of Chicago
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The University of Chicago is a private research university in Chicago, Illinois. It holds top-ten positions in national and international rankings and measures. The university currently enrolls approximately 5,700 students in the College, Chicagos physics department helped develop the worlds first man-made, self-sustaining nuclear reaction beneath the viewing stands of universitys Stagg Field. The university is home to the University of Chicago Press. With an estimated date of 2020, the Barack Obama Presidential Center will be housed at the university. Both Harper and future president Robert Maynard Hutchins advocated for Chicagos curriculum to be based upon theoretical and perennial issues rather than on applied sciences, the University of Chicago has many prominent alumni. 92 Nobel laureates have been affiliated with the university as professors, students, faculty, or staff, similarly,34 faculty members and 16 alumni have been awarded the MacArthur “Genius Grant”. Rockefeller on land donated by Marshall Field, while the Rockefeller donation provided money for academic operations and long-term endowment, it was stipulated that such money could not be used for buildings. The original physical campus was financed by donations from wealthy Chicagoans like Silas B, Cobb who provided the funds for the campus first building, Cobb Lecture Hall, and matched Marshall Fields pledge of $100,000. Organized as an independent institution legally, it replaced the first Baptist university of the same name, william Rainey Harper became the modern universitys first president on July 1,1891, and the university opened for classes on October 1,1892. The business school was founded thereafter in 1898, and the law school was founded in 1902, Harper died in 1906, and was replaced by a succession of three presidents whose tenures lasted until 1929. During this period, the Oriental Institute was founded to support, in 1896, the university affiliated with Shimer College in Mount Carroll, Illinois. The agreement provided that either party could terminate the affiliation on proper notice, several University of Chicago professors disliked the program, as it involved uncompensated additional labor on their part, and they believed it cheapened the academic reputation of the university. The program passed into history by 1910, in 1929, the universitys fifth president, Robert Maynard Hutchins, took office, the university underwent many changes during his 24-year tenure. In 1933, Hutchins proposed a plan to merge the University of Chicago. During his term, the University of Chicago Hospitals finished construction, also, the Committee on Social Thought, an institution distinctive of the university, was created. Money that had been raised during the 1920s and financial backing from the Rockefeller Foundation helped the school to survive through the Great Depression, during World War II, the university made important contributions to the Manhattan Project. The university was the site of the first isolation of plutonium and of the creation of the first artificial, in the early 1950s, student applications declined as a result of increasing crime and poverty in the Hyde Park neighborhood
5.
Northwestern University
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Composed of twelve schools and colleges, Northwestern offers 124 undergraduate degrees and 145 graduate and professional degrees. Northwestern was founded in 1851 by John Evans, for whom the City of Evanston is named and its founding purpose was to serve the Northwest Territory, an area that today includes the states of Ohio, Indiana, Illinois, Michigan, Wisconsin and parts of Minnesota. Instruction began in 1855, women were admitted in 1869, today, the main campus is a 240-acre parcel in Evanston, along the shores of Lake Michigan 12 miles north of downtown Chicago. The universitys law, medical, and professional schools are located on a 25-acre campus in Chicagos Streeterville neighborhood, in 2008, the university opened a campus in Education City, Doha, Qatar with programs in journalism and communication. In 2016, Northwestern opened its San Francisco space at 44 Montgomery St. which hosts journalism, engineering, Northwestern is a large research university with a comprehensive doctoral program and it attracts over $650 million in sponsored research each year. Northwestern has the tenth largest university endowment in the United States, in 2017, the university accepted 9. 0% of undergraduate applicants from a pool of 37,255. Northwestern is a member of the Big Ten Conference and remains the only private university in the conference. The Northwestern Wildcats compete in 19 intercollegiate sports in the NCAAs Division I Big Ten Conference, on January 28,1851, the Illinois General Assembly granted a charter to the Trustees of the North-Western University, making it the first chartered university in Illinois. The schools nine founders, all of whom were Methodists, knelt in prayer, John Evans, for whom Evanston is named, bought 379 acres of land along Lake Michigan in 1853, and Philo Judson developed plans for what would become the city of Evanston, Illinois. The first building, Old College, opened on November 5,1855, to raise funds for its construction, Northwestern sold $100 perpetual scholarships entitling the purchaser and his heirs to free tuition. Willard Residential College is named in her honor, Northwestern admitted its first women students in 1869, and the first woman was graduated in 1874. Northwestern fielded its first intercollegiate football team in 1882, later becoming a member of the Big Ten Conference. In the 1870s and 1880s, Northwestern affiliated itself with already existing schools of law, medicine, Northwestern University Pritzker School of Law is the oldest law school in Chicago. The Association of American Universities invited Northwestern to become a member in 1917, in 1933, a proposal to merge Northwestern with the University of Chicago was considered but rejected. Northwestern was also one of the first six universities in the country to establish a Naval Reserve Officers Training Corps in the 1920s, after the golden years of the 1920s, the Great Depression in the United States hit Northwestern hard. Its annual income dropped 25 percent from $4.8 million in 1930-31 to $3.6 million in 1933-34. Investment income shrank, fewer parents could pay full tuition, and annual giving from alumni, the university responded with two salary cuts of 10 percent each for all employees. It imposed a freeze, a building freeze, and slashed appropriations for maintenance, books
6.
Game theory
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Game theory is the study of mathematical models of conflict and cooperation between intelligent rational decision-makers. Game theory is used in economics, political science, and psychology, as well as logic, computer science. Originally, it addressed zero-sum games, in one persons gains result in losses for the other participants. Today, game theory applies to a range of behavioral relations, and is now an umbrella term for the science of logical decision making in humans, animals. Modern game theory began with the idea regarding the existence of equilibria in two-person zero-sum games. Von Neumanns original proof used Brouwer fixed-point theorem on continuous mappings into compact convex sets and his paper was followed by the 1944 book Theory of Games and Economic Behavior, co-written with Oskar Morgenstern, which considered cooperative games of several players. The second edition of this provided an axiomatic theory of expected utility. This theory was developed extensively in the 1950s by many scholars, Game theory was later explicitly applied to biology in the 1970s, although similar developments go back at least as far as the 1930s. Game theory has been recognized as an important tool in many fields. With the Nobel Memorial Prize in Economic Sciences going to game theorist Jean Tirole in 2014, John Maynard Smith was awarded the Crafoord Prize for his application of game theory to biology. Early discussions of examples of two-person games occurred long before the rise of modern, the first known discussion of game theory occurred in a letter written by Charles Waldegrave, an active Jacobite, and uncle to James Waldegrave, a British diplomat, in 1713. In this letter, Waldegrave provides a mixed strategy solution to a two-person version of the card game le Her. James Madison made what we now recognize as an analysis of the ways states can be expected to behave under different systems of taxation. In 1913 Ernst Zermelo published Über eine Anwendung der Mengenlehre auf die Theorie des Schachspiels and it proved that the optimal chess strategy is strictly determined. This paved the way for more general theorems, the Danish mathematician Zeuthen proved that the mathematical model had a winning strategy by using Brouwers fixed point theorem. In his 1938 book Applications aux Jeux de Hasard and earlier notes, Borel conjectured that non-existence of mixed-strategy equilibria in two-person zero-sum games would occur, a conjecture that was proved false. Game theory did not really exist as a field until John von Neumann published a paper in 1928. Von Neumanns original proof used Brouwers fixed-point theorem on continuous mappings into compact convex sets and his paper was followed by his 1944 book Theory of Games and Economic Behavior co-authored with Oskar Morgenstern
7.
Harvard University
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Although never formally affiliated with any denomination, the early College primarily trained Congregationalist and Unitarian clergy. Its curriculum and student body were gradually secularized during the 18th century, james Bryant Conant led the university through the Great Depression and World War II and began to reform the curriculum and liberalize admissions after the war. The undergraduate college became coeducational after its 1977 merger with Radcliffe College, Harvards $34.5 billion financial endowment is the largest of any academic institution. Harvard is a large, highly residential research university, the nominal cost of attendance is high, but the Universitys large endowment allows it to offer generous financial aid packages. Harvards alumni include eight U. S. presidents, several heads of state,62 living billionaires,359 Rhodes Scholars. To date, some 130 Nobel laureates,18 Fields Medalists, Harvard was formed in 1636 by vote of the Great and General Court of the Massachusetts Bay Colony. In 1638, it obtained British North Americas first known printing press, in 1639 it was named Harvard College after deceased clergyman John Harvard an alumnus of the University of Cambridge who had left the school £779 and his scholars library of some 400 volumes. The charter creating the Harvard Corporation was granted in 1650 and it offered a classic curriculum on the English university model—many leaders in the colony had attended the University of Cambridge—but conformed to the tenets of Puritanism. It was never affiliated with any denomination, but many of its earliest graduates went on to become clergymen in Congregational. The leading Boston divine Increase Mather served as president from 1685 to 1701, in 1708, John Leverett became the first president who was not also a clergyman, which marked a turning of the college toward intellectual independence from Puritanism. When the Hollis Professor of Divinity David Tappan died in 1803 and the president of Harvard Joseph Willard died a year later, in 1804, in 1846, the natural history lectures of Louis Agassiz were acclaimed both in New York and on the campus at Harvard College. Agassizs approach was distinctly idealist and posited Americans participation in the Divine Nature, agassizs perspective on science combined observation with intuition and the assumption that a person can grasp the divine plan in all phenomena. When it came to explaining life-forms, Agassiz resorted to matters of shape based on an archetype for his evidence. Charles W. Eliot, president 1869–1909, eliminated the position of Christianity from the curriculum while opening it to student self-direction. While Eliot was the most crucial figure in the secularization of American higher education, he was motivated not by a desire to secularize education, during the 20th century, Harvards international reputation grew as a burgeoning endowment and prominent professors expanded the universitys scope. Rapid enrollment growth continued as new schools were begun and the undergraduate College expanded. Radcliffe College, established in 1879 as sister school of Harvard College, Harvard became a founding member of the Association of American Universities in 1900. In the early 20th century, the student body was predominately old-stock, high-status Protestants, especially Episcopalians, Congregationalists, by the 1970s it was much more diversified
8.
Bachelor of Arts
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A Bachelor of Arts is a bachelors degree awarded for an undergraduate course or program in either the liberal arts, the sciences, or both. Bachelor of Arts degree programs take three to four years depending on the country, academic institution, and specific specializations, majors or minors. The word baccalaureus or baccalarium should not be confused with baccalaureatus, degree diplomas generally are printed on high-quality paper or parchment, individual institutions set the preferred abbreviation for their degrees. In Pakistan, the Bachelor of Arts degree can also be attained within two years as an external degree, in colleges and universities in Australia, New Zealand, Nepal and South Africa, the BA degree can be taken over three years of full-time study. Unlike in other countries, students do not receive a grade for their Bachelor of Arts degree with varying levels of honours. Qualified students may be admitted, after they have achieved their Bachelors program with an overall grade point average. Thus, to achieve a Bachelor Honours degree, a postgraduate year. A student who holds a Honours degree is eligible for entry to either a Doctorate or a very high research Master´s degree program. Education in Canada is controlled by the Provinces and can be different depending on the province in Canada. Canadian universities typically offer a 3-year Bachelor of Arts degrees, in many universities and colleges, Bachelor of Arts degrees are differentiated either as Bachelors of Arts or as honours Bachelor of Arts degree. The honours degrees are designated with the abbreviation in brackets of. It should not be confused with the consecutive Bachelor of Arts degree with Honours, Latin Baccalaureatus in Artibus Cum Honore, BA hon. de jure without brackets and with a dot. It is a degree, which is considered to be the equivalent of a corresponding maîtrise degree under the French influenced system. Going back in history, a three-year Bachelor of Arts degree was called a pass degree or general degree. Students may be required to undertake a long high-quality research empirical thesis combined with a selection of courses from the relevant field of studies. The consecutive B. cum Honore degree is essential if students ultimate goal is to study towards a two- or three-year very high research masters´ degree qualification. A student holding a Baccalaureatus Cum Honore degree also may choose to complete a Doctor of Philosophy program without the requirement to first complete a masters degree, over the years, in some universities certain Baccalaureatus cum Honore programs have been changed to corresponding master´s degrees. In general, in all four countries, the B. A. degree is the standard required for entry into a masters programme, in science, a BA hons degree is generally a prerequisite for entrance to a Ph. D program or a very-high-research-activity master´s programme
9.
Doctor of Philosophy
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A Doctor of Philosophy is a type of doctoral degree awarded by universities in many countries. Ph. D. s are awarded for a range of programs in the sciences, engineering. The Ph. D. is a degree in many fields. The completion of a Ph. D. is often a requirement for employment as a university professor, researcher, individuals with an earned doctorate can use the title of Doctor with their name and use the post-nominal letters Ph. D. The requirements to earn a Ph. D. degree vary considerably according to the country, institution, a person who attains a doctorate of philosophy is automatically awarded the academic title of doctor. A student attaining this level may be granted a Candidate of Philosophy degree at some institutions. A Ph. D. candidate must submit a project, thesis or dissertation often consisting of a body of academic research. In many countries, a candidate must defend this work before a panel of examiners appointed by the university. Universities award other types of doctorates besides the Ph. D. such as the Doctor of Musical Arts, a degree for music performers and the Doctor of Education, in 2016, ELIA launched The Florence Principles on the Doctorate in the Arts. The Florence Principles have been endorsed are supported also by AEC, CILECT, CUMULUS, the degree is abbreviated PhD, from the Latin Philosophiae Doctor, pronounced as three separate letters. In the universities of Medieval Europe, study was organized in four faculties, the faculty of arts. All of these faculties awarded intermediate degrees and final degrees, the doctorates in the higher faculties were quite different from the current Ph. D. degree in that they were awarded for advanced scholarship, not original research. No dissertation or original work was required, only lengthy residency requirements, besides these degrees, there was the licentiate. According to Keith Allan Noble, the first doctoral degree was awarded in medieval Paris around 1150, the doctorate of philosophy developed in Germany as the terminal Teachers credential in the 17th century. Typically, upon completion, the candidate undergoes an oral examination, always public, starting in 2016, in Ukraine Doctor of Philosophy is the highest education level and the first science degree. PhD is awarded in recognition of a contribution to scientific knowledge. A PhD degree is a prerequisite for heading a university department in Ukraine, upon completion of a PhD, a PhD holder can elect to continue his studies and get a post-doctoral degree called Doctor of Sciences, which is the second and the highest science degree in Ukraine. Scandinavian countries were among the early adopters of a known as a doctorate of philosophy
10.
Kenneth Arrow
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Kenneth Joseph Ken Arrow was an American economist, writer, and political theorist. He was the joint winner of the Nobel Memorial Prize in Economics with John Hicks in 1972, in economics, he was a figure in post-World War II neo-classical economic theory. Many of his graduate students have gone on to win the Nobel Memorial Prize themselves. His most significant works are his contributions to social theory, notably Arrows impossibility theorem. He has also provided work in many other areas of economics, including endogenous growth theory. Arrow was born on August 23,1921, in New York City, Arrows mother, Lilian, was from Iași, Romania, and his father, Harry Arrow, was from nearby Podu Iloaiei. The Arrow family were Romanian Jews and his family was very supportive of his education. Growing up during the Great Depression, he embraced socialism in his youth and he would later move away from socialism, but his views retained a left-leaning philosophy. He graduated from Townsend Harris High School and then earned a Bachelors degree from the City College of New York in 1940 in mathematics and he attended Columbia University, for his graduate studies. While there, he studied under Harold Hotelling, and was influenced by him. He received a Masters degree in 1941 and he served as a weather officer in the United States Army Air Forces from 1942–1946. From 1946 to 1949 Arrow spent his time partly as a student at Columbia. During that time he held the rank of Assistant Professor in Economics at the University of Chicago. He left Chicago to take up the post of Acting Assistant Professor of Economics and Statistics at Stanford University, in 1951, he earned his Ph. D. from Columbia. He served in the government on the staff of the Council of Economic Advisers in the 1960s with Robert Solow, in 1968, he left Stanford for the position of Professor of Economics at Harvard University. It was during his tenure here that he received the Nobel Prize in Economics, Arrow returned to Stanford in 1979 and became the Joan Kenney Professor of Economics and Professor of Operations Research. As a Fulbright Distinguished Chair, in 1995 he taught Economics at the University of Siena and he was also a founding member of the Pontifical Academy of Social Sciences and a member of the Science Board of Santa Fe Institute. At various stages in his career he was a Fellow of Churchill College, Cambridge, five of his former students have gone on to become Nobel Prize winners
11.
Mechanism design
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Because it starts at the end of the game, then goes backwards, it is also called reverse game theory. It has broad applications, from economics and politics to networked-systems, mechanism design studies solution concepts for a class of private-information games. Leonid Hurwicz explains that in a problem, the goal function is the main given. Therefore, the problem is the inverse of traditional economic theory. In an interesting class of Bayesian games, one player, called the principal, for example, the principal would like to know the true quality of a used car a salesman is pitching. He cannot learn anything simply by asking the salesman, because it is in his interest to distort the truth, fortunately, in mechanism design the principal does have one advantage, He may design a game whose rules can influence others to act the way he would like. Without mechanism design theory, the problem would be difficult to solve. He would have to all the possible games and choose the one that best influences other players tactics. In addition, the principal would have to draw conclusions from agents who may lie to him, thanks to mechanism design, and particularly the revelation principle, the principal need only consider games in which agents truthfully report their private information. A game of mechanism design is a game of private information in one of the agents, called the principal. Following Harsanyi, the agents receive secret messages from nature containing information relevant to payoffs, for example, a message may contain information about their preferences or the quality of a good for sale. We call this information the agents type, agents then report a type to the principal that can be a strategic lie. After the report, the principal and the agents are paid according to the structure the principal chose. As a benchmark the designer often defines what would happen under full information, thanks to a sweeping result called the revelation principle, no matter the mechanism a designer can confine attention to equilibria in which agents truthfully report type. The revelation principle states, To every Bayesian Nash equilibrium there corresponds a Bayesian game with the equilibrium outcome. The principle allows one to solve for a Bayesian equilibrium by assuming all players truthfully report type, in one blow it eliminates the need to consider either strategic behavior or lying. Assume a Bayesian game in which the strategy and payoff are functions of its type and what others do. The easiest one to define is for the mechanism to commit to playing the agents equilibrium strategies for them, Y, Θ → S → Y Under such a mechanism the agents of course find it optimal to reveal type since the mechanism plays the strategies they found optimal anyway
12.
Nobel Memorial Prize in Economic Sciences
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The prize was established in 1968 by a donation from Swedens central bank, the Swedish National Bank, on the banks 300th anniversary. Although it is not one of the prizes that Alfred Nobel established in his will in 1895, laureates are announced with the other Nobel Prize laureates, and receive the award at the same ceremony. Laureates in the Memorial Prize in Economics are selected by the Royal Swedish Academy of Sciences and it was first awarded in 1969 to the Dutch and Norwegian economists Jan Tinbergen and Ragnar Frisch, for having developed and applied dynamic models for the analysis of economic processes. An endowment in perpetuity from Sveriges Riksbank pays the Nobel Foundations administrative expenses associated with the prize, since 2012, the monetary portion of the Prize in Economics has totalled 8 million Swedish kronor. This is equivalent to the amount given for the original Nobel Prizes, the Prize in Economics is not one of the original Nobel Prizes created by Alfred Nobels will. However, the process, selection criteria, and awards presentation of the Prize in Economic Sciences are performed in a manner similar to that of the Nobel Prizes. Laureates are announced with the Nobel Prize laureates, and receive the award at the same ceremony, shall have conferred the greatest benefit on mankind. According to its website, the Royal Swedish Academy of Sciences administers a researcher exchange with academies in other countries and publishes six scientific journals. Members of the Academy and former laureates are also authorised to nominate candidates, all proposals and their supporting evidence must be received before February 1. The proposals are reviewed by the Prize Committee and specially appointed experts, before the end of September, the committee chooses potential laureates. If there is a tie, the chairman of the committee casts the deciding vote, next, the potential laureates must be approved by the Royal Swedish Academy of Sciences. Members of the Ninth Class of the Academy vote in mid-October to determine the next laureate or laureates of the Prize in Economics. The first prize in economics was awarded in 1969 to Ragnar Frisch, in 2009, Elinor Ostrom became the first woman awarded the prize. This makes it available to researchers in such topics as political science, psychology, moreover, the composition of the Economics Prize Committee changed to include two non-economists. This has not been confirmed by the Economics Prize Committee, the members of the 2007 Economics Prize Committee are still dominated by economists, as the secretary and four of the five members are professors of economics. Some critics argue that the prestige of the Prize in Economics derives in part from its association with the Nobel Prizes, among them is the Swedish human rights lawyer Peter Nobel, a great-grandson of Ludvig Nobel. Nobel criticizes the institution of misusing his familys name. He explaiend that Nobel despised people who cared more about profits than societys well-being and this does not matter in the natural sciences
13.
Economist
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An economist is a practitioner in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy. A generally accepted interpretation in academia is that an economist is one who has attained a Ph. D. in economics, teaches economic science, the professionalization of economics, reflected in academia, has been described as the main change in economics since around 1900. Economists debate the path they believe their profession should take, surveys among economists indicate a preference for a shift toward the latter. Most major universities have a faculty, school or department. However, many prominent economists come from a background in mathematics, business, political science, law, sociology, getting a PhD in economics takes six years, on average, with a median of 5.3 years. The Nobel Memorial Prize in Economics, established by Sveriges Riksbank in 1968, is a prize awarded to each year for outstanding intellectual contributions in the field of economics. The prize winners are announced in October every year and they receive their awards on December 10, the anniversary of Alfred Nobels death. In contrast to regulated professions such as engineering, law or medicine, in academia, to be called an economist requires a Ph. D. degree in Economics. A professional working inside of one of many fields of economics or having a degree in this subject is often considered to be an economist. In addition to government and academia, economists are employed in banking, finance, accountancy, commerce, marketing, business administration, lobbying. Politicians often consult economists before enacting economic policy, many statesmen have academic degrees in economics. Economics graduates are employable in varying degrees depending on the regional economic scenario, small numbers go on to undertake postgraduate studies, either in economics, research, teacher training or further qualifications in specialist areas. Nearly 135 colleges and universities grant around 900 new Ph. D. s every year, incomes are highest for those in the private sector, followed by the federal government, with academia paying the lowest incomes. As of January 2013, PayScale. com showed Ph. D. economists salary ranges as follows, all Ph. D. economists, $61,000 to $160,000, Ph. D. The largest single grouping of economists in the UK are the more than 1000 members of the Government Economic Service. This figure compares very favourably with the picture, with 64 percent of economics graduates in employment. Some current well-known economists include, Ben Bernanke, Chairman of the Federal Reserve from 2006 to 2014, milton Friedman, Nobel Memorial Prize in Economic Sciences laureate in Economics
14.
College of the University of Chicago
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The College of the University of Chicago is the universitys sole undergraduate institution and one of its oldest components, emerging contemporaneously with the university at large in 1892. Unlike many major American research universities, the College is small in comparison to the Universitys graduate divisions, with graduate students outnumbering undergraduates at a 2,1 ratio. For 2016, U. S. News & World Report ranked the University of Chicago as 3rd in the nation for education, behind Princeton and Harvard. In 2010, Forbes also named the University of Chicago a billionaire university, in 2007 Princeton Review named the College as having the Best Undergraduate Academic Experience in the United States. In 2012, Newsweek ranked UChicago 5th for having happy students, 9th for academic rigor, in addition, College Crunch, an online college admissions resource, ranked the University of Chicago as 1st in the country among colleges and universities for its undergraduate college. The University also has the highest SAT ranges for admitted students of any school in the nation, for the class of 2015, the middle 50% range for combined math and reading SAT scores was 1420-1530. However, in 2009, the school adopted the Common Application, the cornerstone of the previously used Uncommon Application and the current supplement is a unique set of essay questions that have attracted a lot of attention for the school. In the 2011-2012 season, there was a question that referenced a game in which students use Wikipedia to draw connections between seemingly unrelated things, What does Play-Doh have to do with Plato. The schools acceptance rate fell to a low of 7. 8% for the class of 2019. In comparison, the rate was 8. 4% for the class of 2018. The yield also hit a record-high 60. 3% for the class of 2018, topping such as Dartmouth, Brown. A primary departmental or committee affiliation is denoted for those whose names differ from that of their field designation, a student is awarded either the A. B. or S. B. degree. The college recently introduced minors in a numbers of fields. Currently,15 courses are required in addition to tested foreign language proficiency if no Advanced Placement or International Baccalaureate examinations are used for exemption and this is a departure from the school’s traditional ties to texts of the European tradition such as Plato and Locke. The College often publishes literature that emphasizes the “life of the mind, alternatively, a popular phrase with students is “where fun comes to die, ” describing the schools lack of a stereotypical college party culture. Efforts in the 1990s, under President Hugo F. Sonnenschein to change some of these perceptions of the College were controversial, Summer Breeze - The universitys annual summer carnival and concert. Past musicians who have performed at Summer Breeze include The Roots, Spoon, Wilco, Eminem, Kanye West, one-Dollar Shake Day - Milkshakes sell for only one dollar every Wednesday at the Reynolds Club. Bagels franchise was allowed to open on only after agreeing to adhere to this tradition
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Harris School of Public Policy Studies
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The University of Chicago Harris School of Public Policy is the public policy school of the University of Chicago in Chicago, Illinois, United States. It is ranked in the top five policy analysis schools in the United States and it is located on the Universitys main campus in Hyde Park. In addition to studies and policy analysis, the school requires its students to pursue training in economics and statistics through preliminary examinations. Degree program is offered to students looking to pursue a career designing and conducting policy-relevant research, – Joint Degree with the Center for Middle Eastern Studies M. P. P. /M. Div. – Joint Degree with the Divinity School M. P. P. /M. B. A, – Joint Degree with the Booth School of Business M. P. P. /J. D. – Joint Degree with the Law School M. P. P. /A. M, henry Schultz Distinguished Service Professor of Economics, and director of the Center for the Economics of Human Development. Jens Ludwig - McCormick Foundation Professor of Social Service Administration, Law, and Public Policy Harris School Website
16.
Leonid Hurwicz
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Leonid Leo Hurwicz was a Polish economist and mathematician active in the United States. He originated incentive compatibility and mechanism design, which show how desired outcomes are achieved in economics, social science, interactions of individuals and institutions, markets and trade are analyzed and understood today using the models Hurwicz developed. To date, Leonid Hurwicz is the oldest Nobel Laureate, having received the prize at the age of 90, Hurwicz was Regents Professor of Economics at the University of Minnesota. He was among the first economists to recognize the value of theory and was a pioneer in its application. Hurwicz shared the 2007 Nobel Memorial Prize in Economic Sciences with Eric Maskin, Hurwicz was born in Moscow, Russia, to a family of Polish Jews a few months before the October Revolution. Soon after Leonids birth, the returned to Warsaw. Hurwicz and his family experienced persecution by both the Bolsheviks and Nazis, as he became a refugee when Hitler invaded Poland in 1939. His parents and brother fled Warsaw, only to be arrested and his family eventually joined him there. Hurwicz hired Evelyn Jensen, who grew up on a Wisconsin farm and was, at the time and they married on July 19,1944 and later lived at a number of locations in Minneapolis, Minnesota, the last being on Edmund Boulevard near W. River Parkway S. They had four children, Sarah, Michael, Ruth and Maxim and his interests included linguistics, archaeology, biochemistry and music. His activities outside the field of economics included research in meteorology and he helped design the walking subcaucus method of allocating delegates among competing groups, which is still used today by political parties. He remained an active Democrat, even attending Precinct Caucus in February 2008 and he was hospitalized in mid-June 2008, suffering from renal failure. He died a week later in Minneapolis, encouraged by his father to study law, in 1938 Hurwicz received his LL. M. degree from the University of Warsaw, where he discovered his future vocation in economics class. He then studied at the London School of Economics with Nicholas Kaldor, in 1939 he moved to Geneva where he studied at the Graduate Institute of International Studies and attended the seminar of Ludwig von Mises. After moving to the United States he continued his studies at Harvard University, Hurwicz had no degree in economics. In 2007 he said, Whatever economics I learned I learned by listening and learning, in 1941 Hurwicz was a research assistant to Paul Samuelson at the Massachusetts Institute of Technology and to Oskar Lange at the University of Chicago. At Illinois Institute of Technology during the war, Hurwicz taught electronics to the U. S. Army Signal Corps. From 1942 to 1944, at the University of Chicago, he was a member of the faculty of the Institute of Meteorology and taught statistics in the Department of Economics
17.
Eric Maskin
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Eric Stark Maskin is an American economist and 2007 Nobel laureate recognized with Leonid Hurwicz and Roger Myerson for having laid the foundations of mechanism design theory. He is the Adams University Professor at Harvard University, until 2011, he was the Albert O. Hirschman Professor of Social Science at the Institute for Advanced Study, and a visiting lecturer with the rank of professor at Princeton University. Maskin was born in New York City on December 12,1950, into a Jewish family and he graduated from Tenafly High School in Tenafly, New Jersey, in 1968, and attended Harvard University, where he earned A. B. He continued to earn a Ph. D. in applied mathematics at the same institution, in 1976, after earning his doctorate, Maskin became a research fellow at Jesus College, Cambridge University. In the following year, he joined the faculty at Massachusetts Institute of Technology, in 1985 he returned to Harvard as the Louis Berkman Professor of Economics, where he remained until 2000. That year, he moved to the Institute for Advanced Study in Princeton, in 2011, Maskin has returned to Harvard again. Maskin has worked in areas of economic theory, such as game theory, the economics of incentives. He is particularly known for his papers on mechanism design/implementation theory. His current research projects include comparing different electoral rules, examining the causes of inequality and he is a Fellow of the American Academy of Arts and Sciences, Econometric Society, and the European Economic Association, and a Corresponding Fellow of the British Academy. He was president of the Econometric Society in 2003, Maskin suggested that software patents inhibit innovation rather than stimulate progress. Software, semiconductor, and computer industries have been innovative despite historically weak patent protection, innovation in those industries has been sequential and complementary, so competition can increase firms future profits. In such an industry, patent protection may reduce overall innovation. A natural experiment occurred in the 1980s when patent protection was extended to software, standard arguments would predict that R&D intensity and productivity should have increased among patenting firms. Consistent with our model, however, these increases did not occur, other evidence supporting this model includes a distinctive pattern of cross-licensing and a positive relationship between rates of innovation and firm entry. List of economists Mechanism design Maskin Nobel Prize lecture Profile in The Daily Princetonian Tabarrok, explaining the research that won the 2007 Nobel Prize in Economics. Videos of Eric Maskin speaking in plain English Maskin, Eric Stark, Prize Lecture by Eric S. Maskin. Eric S. Maskin delivered his Prize Lecture on 8 December 2007 at Aula Magna and he was introduced by Professor Jörgen Weibull, Chairman of the Economics Prize Committee. Copyright © Nobel Web AB2007 Maskin, Eric Stark, Eric Maskin - An Introduction to Mechanism Design - Warwick Economics Summit 2014
18.
Applied mathematics
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Applied mathematics is a branch of mathematics that deals with mathematical methods that find use in science, engineering, business, computer science, and industry. Thus, applied mathematics is a combination of science and specialized knowledge. The term applied mathematics also describes the professional specialty in which work on practical problems by formulating and studying mathematical models. The activity of applied mathematics is thus connected with research in pure mathematics. Historically, applied mathematics consisted principally of applied analysis, most notably differential equations, approximation theory, quantitative finance is now taught in mathematics departments across universities and mathematical finance is considered a full branch of applied mathematics. Engineering and computer science departments have made use of applied mathematics. Today, the applied mathematics is used in a broader sense. It includes the areas noted above as well as other areas that have become increasingly important in applications. Even fields such as number theory that are part of mathematics are now important in applications. There is no consensus as to what the various branches of applied mathematics are, such categorizations are made difficult by the way mathematics and science change over time, and also by the way universities organize departments, courses, and degrees. Many mathematicians distinguish between applied mathematics, which is concerned with methods, and the applications of mathematics within science. Mathematicians such as Poincaré and Arnold deny the existence of applied mathematics, similarly, non-mathematicians blend applied mathematics and applications of mathematics. The use and development of mathematics to industrial problems is also called industrial mathematics. Historically, mathematics was most important in the sciences and engineering. Academic institutions are not consistent in the way they group and label courses, programs, at some schools, there is a single mathematics department, whereas others have separate departments for Applied Mathematics and Mathematics. It is very common for Statistics departments to be separated at schools with graduate programs, many applied mathematics programs consist of primarily cross-listed courses and jointly appointed faculty in departments representing applications. Some Ph. D. programs in applied mathematics require little or no coursework outside of mathematics, in some respects this difference reflects the distinction between application of mathematics and applied mathematics. Research universities dividing their mathematics department into pure and applied sections include MIT, brigham Young University also has an Applied and Computational Emphasis, a program that allows student to graduate with a Mathematics degree, with an emphasis in Applied Math
19.
Kellogg School of Management
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The Kellogg School of Management is the business school of Northwestern University in Evanston, Illinois, with additional campuses in downtown Chicago, Illinois and Miami, Florida. Kellogg offers full-time, part-time, and executive programs, and partners with schools in China, France/Singapore, India, Spain, Hong Kong, Israel, Germany, Canada, and Thailand. Degrees granted include the Master of Business Administration, Ph. D. programs in fields, an MBA-JD, and MMM Program. The MDI degree replaces the MEM degree within the MMM program, founded in 1908 in downtown Chicago as a part-time evening program, the school was chartered to educate business leaders with good moral character. Kellogg pioneered the use of group projects and evaluations and popularized the importance of teamwork and team leadership within the business world. Kellogg has historically been ranked as one of the top schools in the world by BusinessWeek, U. S. News & World Report, The Economist Intelligence Unit. The PTMBA program has recently been ranked #1 in the nation by Business Week, Alumni from the Kellogg school hold leadership positions in for-profit, nonprofit, governmental, and academic institutions around the world. As one of the original members, the school later played a major role in helping to establish the Graduate Management Admission Test. In addition, faculty associated with the school have made contributions to such as marketing. For instance, Walter Dill Scott, a pioneer in applied psychology and he went on to serve as president of Northwestern University from 1920–1939. Similarly, Kotlers Marketing Management text has played a key role in deepening the fields scholarship, in 1919, Ralph E. Heilman, a Northwestern graduate with a doctorate from Harvard, was appointed dean of the school. And in the year, the school launched a graduate program leading toward the Master of Business Administration degree. In 1939, Homer Vanderblue became the dean of the school. In 1951, Kellogg began offering executive education courses, the Institute for Management, a four-week summer program based in Evanston, expanded the following year to two sections. The programs success eventually led to it being expanded in Europe in 1965 with a program offered in Bürgenstock. In 1976, the school expanded its executive education offerings in Evanston, a watershed event in the schools history was the opening of the James L. Allen Center, home of the Kellogg executive education programs. The Allen Centers cornerstone was laid in 1978 while the facility officially opened Oct 31,1979, in addition, this training was oriented toward general management, rather than narrowly functional skills, as had largely been the case in many business schools for much of the 20th century. To reflect this change, the school in 1969 stopped issuing the MBA credential in favor of the MM, a point of differentiation for nearly three decades, the school more recently returned to the traditional MBA
20.
Bielefeld University
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Bielefeld University is a university in Bielefeld, Germany. Founded in 1969, it is one of the newer universities. In particular, the university aims to re-establish the unity between research and teaching, and so all its faculty teach courses in their area of research, the university also stresses a focus on interdisciplinary research, helped by the architecture, which encloses all faculties in one great structure. It is among the first of the German universities to some faculties to Bachelor/Master-degrees as part of the Bologna process. A total investment of more than 1 billion euros has been planned for this undertaking, Bielefeld University is known for its faculty of sociology. It is associated with Norbert Elias and Niklas Luhmann, who were professors there, in the Times Higher Education World University Rankings of 2010-2011 Bielefeld is placed among the top 50 engineering and technology universities. Bielefeld University Library occupies most of the first floor of the university building. It is open day of the year, from 08,00 until 01,00 Monday to Friday. The librarys projects include the development of tools to access to electronic resources. Bielefeld University was one of the centers of student protests in the fight against the introduction of tuition fees, in the course of the protests, the central hall and the university presidents office were occupied by protesting students for over a month. This is comparable to similar results at other German universities, in its session of July 12,2006, the university senate decided to introduce tuition fees of €500 per semester, beginning in 2007. In August 2006, a key for the university went missing during a senate session. After that, multiple cases of arson and defacement of university property were reported, University president Dieter Timmermann was a particular target of these attacks. The cost of the damage, mainly due to the replacement of thousands of locks, was estimated at over a million euros, the university is located in the west of Bielefeld next to the Teutoburg Forest. The main building, which all the faculties and institutes, as well as the large library, is a functional concrete structure. The nearest airport, Paderborn/Lippstadt, is about 50 kilometres southeast of Bielefeld
21.
University of Minnesota
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The University of Minnesota, Twin Cities is a public research university in Minneapolis and Saint Paul, Minnesota. The Minneapolis and St. Paul campuses are approximately 3 miles apart, and it is the oldest and largest campus within the University of Minnesota system and has the sixth-largest main campus student body in the United States, with 51,147 students in 2013–14. The university is the institution of the University of Minnesota system, and is organized into 19 colleges and schools, with sister campuses in Crookston, Duluth, Morris. Minnesota is one of Americas Public Ivy universities, which refers to top universities in the United States capable of providing a collegiate experience comparable with the Ivy League. Founded in 1851, The University of Minnesota is categorized as an R1 Doctoral University with the highest research activity in the Carnegie Classification of Institutions of Higher Education, Minnesota faculty, alumni, and researchers have won 25 Nobel Prizes and three Pulitzer Prizes. Notable University of Minnesota alumni include two Vice Presidents of the United States, Hubert Humphrey and Walter Mondale, and Bob Dylan, who received the 2016 Nobel Prize in Literature. The University of Minnesota Twin Cities is also a member of the Association of American Universities which is an association of the 62 leading research universities in the United States and Canada. In its 2017 edition, U. S. News & World Report ranked Minnesota 38th in their Best Global University Rankings, the Times Higher Education World University Rankings for 2015 ranks Minnesota 46th in the world. In 2015, Academic Ranking of World Universities ranked the university 11th in the world for mathematics, the University of Minnesota is ranked 14 over-all among the nations top research universities by the Center for Measuring University Performance. The U. S. News & World Reports 2016 rankings placed the program of the University as the 69th-best National University in the United States. Additionally, nineteen of the Universitys graduate-school departments have been ranked in the nations top-twenty by the U. S. National Research Council, in both 2008 and 2012 U. S. News & World Report ranked the College of Pharmacy 2nd in the nation. 2016 U. S. News & Report now rank the College of Pharmacy 2nd in the nation. In 2011, U. S. News & World Report ranked the School of Public Health 8th in the nation, the University of Minnesota ranked 19th in NIH funding in 2008. Minnesota is listed as a Public Ivy in 2001 Greenes Guides The Public Ivies, the university developed Gopher, a precursor to the World Wide Web which used hyperlinks to connect documents across computers on the internet. However, the produced by CERN was favored by the public since it was freely distributed. The University also houses the Charles Babbage Institute, a research, the department has strong roots in early days of supercomputing with Seymour Cray of Cray supercomputers. Notable faculty of the department are Yousef Saad, Vipin Kumar, Jaideep Srivastava, John Riedl, some notable alumni of the department are Ed Chi, Imrich Chlamtac, Leah Culver, Jeff Dean, Mark P. McCahill, Arvind Mithal, and Calvin Mooers. Puffed rice - Alexander P. Anderson led to the discovery of puffed rice, transistorized cardiac pacemaker - Earl Bakken founded Medtronic, where he developed the first external, battery-operated, transistorized, wearable artificial pacemaker in 1957
22.
Institute for Advanced Study
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The IAS is perhaps best known as the academic home of Albert Einstein, John von Neumann and Kurt Gödel, after their immigration to the United States. Although it is close to and collaborates with Princeton University, Rutgers University, Flexners guiding principle in founding the Institute was the pursuit of knowledge for its own sake. There are no programs or experimental facilities at the Institute. Research is never contracted or directed, it is left to each individual researcher to pursue their own goals and it is supported entirely by endowments, grants, and gifts, and is one of the eight American mathematics institutes funded by the National Science Foundation. It is the model for the eight members of the consortium Some Institutes for Advanced Study. The institute consists of four schools–Historical Studies, Mathematics, Natural Sciences, in 2016, the Institute has been in the news for a faculty housing project proposal. While the Institute owns the property on which it wants to build these houses, historians and archaeological evidence confirm the site witnessed Gen. George Washingtons arrival and charge on horseback across the battlefield during the January 3,1777 Battle of Princeton. The Institute was founded in 1930 by Abraham Flexner, together with philanthropists Louis Bamberger, Flexner is generally regarded as one of the most important figures in the history of American medicine and played a major role in the reform of medical education. This led to an interest in education generally and as early as 1890 he had founded a school which had no formal curriculum, exams. It was a success at preparing students for prestigious colleges. The Bamberger siblings wanted to use the proceeds from the sale of their department store in Newark, New Jersey, Flexner convinced them to put their money in the service of more abstract research. In 1932 Veblen resigned from Princeton and became the first professor in the new Institute for Advanced Study and he selected most of the original faculty and also helped the Institute acquire land in Princeton for both the original facility and future expansion. Flexner and Veblen set out to recruit the best mathematicians and physicists they could find, the rise of fascism and the associated anti-semitism forced many prominent mathematicians to flee Europe and some, such as Einstein and Hermann Weyl, found a home at the new institute. Weyl as a condition of accepting insisted that the Institute also appoint the thirty year old Austrian-Hungarian polymath John von Neumann, indeed, the IAS became the key lifeline for scholars fleeing Europe. Einstein was Flexners first coup and shortly after that he was followed by Veblens brilliant student James Alexander, Flexner was fortunate in the luminaries he directly recruited but also in the people that they brought along with them. Thus, by 1934 the fledgeling institute was led by six of the most prominent mathematicians in the world, in 1935 quantum physics pioneer Wolfgang Pauli became a faculty member. With the opening of the Institute for Advanced Study, Princeton replaced Göttingen as the center for mathematics in the twentieth century. Princeton Universitys science departments are less than two miles away and informal ties and collaboration between the two institutions occurred from the beginning and this helped start an incorrect impression that it was part of the University, one that has never been completely eradicated
23.
Economics
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Economics is a social science concerned chiefly with description and analysis of the production, distribution, and consumption of goods and services according to the Merriam-Webster Dictionary. Economics focuses on the behaviour and interactions of economic agents and how economies work, consistent with this focus, textbooks often distinguish between microeconomics and macroeconomics. Microeconomics examines the behaviour of elements in the economy, including individual agents and markets, their interactions. Individual agents may include, for example, households, firms, buyers, macroeconomics analyzes the entire economy and issues affecting it, including unemployment of resources, inflation, economic growth, and the public policies that address these issues. Economic analysis can be applied throughout society, as in business, finance, health care, Economic analyses may also be applied to such diverse subjects as crime, education, the family, law, politics, religion, social institutions, war, science, and the environment. At the turn of the 21st century, the domain of economics in the social sciences has been described as economic imperialism. The ultimate goal of economics is to improve the conditions of people in their everyday life. There are a variety of definitions of economics. Some of the differences may reflect evolving views of the subject or different views among economists, to supply the state or commonwealth with a revenue for the publick services. Say, distinguishing the subject from its uses, defines it as the science of production, distribution. On the satirical side, Thomas Carlyle coined the dismal science as an epithet for classical economics, in this context and it enquires how he gets his income and how he uses it. Thus, it is on the one side, the study of wealth and on the other and more important side, a part of the study of man. He affirmed that previous economists have usually centred their studies on the analysis of wealth, how wealth is created, distributed, and consumed, but he said that economics can be used to study other things, such as war, that are outside its usual focus. This is because war has as the goal winning it, generates both cost and benefits, and, resources are used to attain the goal. If the war is not winnable or if the costs outweigh the benefits. Some subsequent comments criticized the definition as overly broad in failing to limit its subject matter to analysis of markets, there are other criticisms as well, such as in scarcity not accounting for the macroeconomics of high unemployment. The same source reviews a range of included in principles of economics textbooks. Among economists more generally, it argues that a particular definition presented may reflect the direction toward which the author believes economics is evolving, microeconomics examines how entities, forming a market structure, interact within a market to create a market system
24.
JSTOR
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JSTOR is a digital library founded in 1995. Originally containing digitized back issues of journals, it now also includes books and primary sources. It provides full-text searches of almost 2,000 journals, more than 8,000 institutions in more than 160 countries have access to JSTOR, most access is by subscription, but some older public domain content is freely available to anyone. William G. Bowen, president of Princeton University from 1972 to 1988, JSTOR originally was conceived as a solution to one of the problems faced by libraries, especially research and university libraries, due to the increasing number of academic journals in existence. Most libraries found it prohibitively expensive in terms of cost and space to maintain a collection of journals. By digitizing many journal titles, JSTOR allowed libraries to outsource the storage of journals with the confidence that they would remain available long-term, online access and full-text search ability improved access dramatically. Bowen initially considered using CD-ROMs for distribution, JSTOR was initiated in 1995 at seven different library sites, and originally encompassed ten economics and history journals. JSTOR access improved based on feedback from its sites. Special software was put in place to make pictures and graphs clear, with the success of this limited project, Bowen and Kevin Guthrie, then-president of JSTOR, wanted to expand the number of participating journals. They met with representatives of the Royal Society of London and an agreement was made to digitize the Philosophical Transactions of the Royal Society dating from its beginning in 1665, the work of adding these volumes to JSTOR was completed by December 2000. The Andrew W. Mellon Foundation funded JSTOR initially, until January 2009 JSTOR operated as an independent, self-sustaining nonprofit organization with offices in New York City and in Ann Arbor, Michigan. JSTOR content is provided by more than 900 publishers, the database contains more than 1,900 journal titles, in more than 50 disciplines. Each object is identified by an integer value, starting at 1. In addition to the site, the JSTOR labs group operates an open service that allows access to the contents of the archives for the purposes of corpus analysis at its Data for Research service. This site offers a facility with graphical indication of the article coverage. Users may create focused sets of articles and then request a dataset containing word and n-gram frequencies and they are notified when the dataset is ready and may download it in either XML or CSV formats. The service does not offer full-text, although academics may request that from JSTOR, JSTOR Plant Science is available in addition to the main site. The materials on JSTOR Plant Science are contributed through the Global Plants Initiative and are only to JSTOR
25.
Cambridge University Press
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Cambridge University Press is the publishing business of the University of Cambridge. Granted letters patent by Henry VIII in 1534, it is the worlds oldest publishing house and it also holds letters patent as the Queens Printer. The Presss mission is To further the Universitys mission by disseminating knowledge in the pursuit of education, learning, Cambridge University Press is a department of the University of Cambridge and is both an academic and educational publisher. With a global presence, publishing hubs, and offices in more than 40 countries. Its publishing includes journals, monographs, reference works, textbooks. Cambridge University Press is an enterprise that transfers part of its annual surplus back to the university. Cambridge University Press is both the oldest publishing house in the world and the oldest university press and it originated from Letters Patent granted to the University of Cambridge by Henry VIII in 1534, and has been producing books continuously since the first University Press book was printed. Cambridge is one of the two privileged presses, authors published by Cambridge have included John Milton, William Harvey, Isaac Newton, Bertrand Russell, and Stephen Hawking. In 1591, Thomass successor, John Legate, printed the first Cambridge Bible, the London Stationers objected strenuously, claiming that they had the monopoly on Bible printing. The universitys response was to point out the provision in its charter to print all manner of books. In July 1697 the Duke of Somerset made a loan of £200 to the university towards the house and presse and James Halman, Registrary of the University. It was in Bentleys time, in 1698, that a body of scholars was appointed to be responsible to the university for the Presss affairs. The Press Syndicates publishing committee still meets regularly, and its role still includes the review, John Baskerville became University Printer in the mid-eighteenth century. Baskervilles concern was the production of the finest possible books using his own type-design, a technological breakthrough was badly needed, and it came when Lord Stanhope perfected the making of stereotype plates. This involved making a mould of the surface of a page of type. The Press was the first to use this technique, and in 1805 produced the technically successful, under the stewardship of C. J. Clay, who was University Printer from 1854 to 1882, the Press increased the size and scale of its academic and educational publishing operation. An important factor in this increase was the inauguration of its list of schoolbooks, during Clays administration, the Press also undertook a sizable co-publishing venture with Oxford, the Revised Version of the Bible, which was begun in 1870 and completed in 1885. It was Wright who devised the plan for one of the most distinctive Cambridge contributions to publishing—the Cambridge Histories, the Cambridge Modern History was published between 1902 and 1912
26.
International Standard Book Number
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The International Standard Book Number is a unique numeric commercial book identifier. An ISBN is assigned to each edition and variation of a book, for example, an e-book, a paperback and a hardcover edition of the same book would each have a different ISBN. The ISBN is 13 digits long if assigned on or after 1 January 2007, the method of assigning an ISBN is nation-based and varies from country to country, often depending on how large the publishing industry is within a country. The initial ISBN configuration of recognition was generated in 1967 based upon the 9-digit Standard Book Numbering created in 1966, the 10-digit ISBN format was developed by the International Organization for Standardization and was published in 1970 as international standard ISO2108. Occasionally, a book may appear without a printed ISBN if it is printed privately or the author does not follow the usual ISBN procedure, however, this can be rectified later. Another identifier, the International Standard Serial Number, identifies periodical publications such as magazines, the ISBN configuration of recognition was generated in 1967 in the United Kingdom by David Whitaker and in 1968 in the US by Emery Koltay. The 10-digit ISBN format was developed by the International Organization for Standardization and was published in 1970 as international standard ISO2108, the United Kingdom continued to use the 9-digit SBN code until 1974. The ISO on-line facility only refers back to 1978, an SBN may be converted to an ISBN by prefixing the digit 0. For example, the edition of Mr. J. G. Reeder Returns, published by Hodder in 1965, has SBN340013818 -340 indicating the publisher,01381 their serial number. This can be converted to ISBN 0-340-01381-8, the check digit does not need to be re-calculated, since 1 January 2007, ISBNs have contained 13 digits, a format that is compatible with Bookland European Article Number EAN-13s. An ISBN is assigned to each edition and variation of a book, for example, an ebook, a paperback, and a hardcover edition of the same book would each have a different ISBN. The ISBN is 13 digits long if assigned on or after 1 January 2007, a 13-digit ISBN can be separated into its parts, and when this is done it is customary to separate the parts with hyphens or spaces. Separating the parts of a 10-digit ISBN is also done with either hyphens or spaces, figuring out how to correctly separate a given ISBN number is complicated, because most of the parts do not use a fixed number of digits. ISBN issuance is country-specific, in that ISBNs are issued by the ISBN registration agency that is responsible for country or territory regardless of the publication language. Some ISBN registration agencies are based in national libraries or within ministries of culture, in other cases, the ISBN registration service is provided by organisations such as bibliographic data providers that are not government funded. In Canada, ISBNs are issued at no cost with the purpose of encouraging Canadian culture. In the United Kingdom, United States, and some countries, where the service is provided by non-government-funded organisations. Australia, ISBNs are issued by the library services agency Thorpe-Bowker
27.
American Economic Association
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The American Economic Association is a learned society in the field of economics, headquartered in Nashville, Tennessee. It publishes one of the most prestigious journals in economics. The Association as such will take no partisan attitude, nor will it commit its members to any position on economic questions. Its current president is Alvin E. Roth of Stanford University, once composed primarily of college and university teachers of economics, the Association now attracts an increasing number of members from business and professional groups. Today the membership is about 18,000, over half of whom are academics, about 15% are employed in business and industry, and the remainder largely by federal, state, and local government or other not-for-profit organizations. For many years, the AEA published three journals, the American Economic Review, the Journal of Economic Literature, and the Journal of Economic Perspectives. In 2009, it began to publish four new area-specific journals, the four areas covered by AEJ are applied economics, economic policy, macroeconomics, and microeconomics. The AEA recognizes annually a Best Paper Award for papers published in each of the four, the AEA also produces EconLit, the AEAs electronic bibliography. It is an index to peer-reviewed journal articles, books, book reviews, collective volume articles, working papers. Compiled and abstracted in a format, EconLit indexes 125 years of economic literature from around the world. It follows the JEL classification codes of the Journal of Economic Literature, the AEA sponsors RFE, Resources for Economists on the Internet, an online source available to the general public without subscription. It catalogs and annotates 2, 000+ internet sites under some 97 sections and subsubsections, RFE is currently updated on a monthly basis. The AEA resource, Job Openings for Economists originated in October 1974, AEA, in conjunction with over 50 associations in related disciplines, holds a three-day annual meeting to present papers on general economic subjects. This meeting features about 500 scholarly sessions, a placement service to assist employers and job applicants begins a day prior to the meetings. A continuing education program is held immediately after the annual meeting, topics vary from year to year. Each year, the AEA recognizes the lifetime research contributions of four economists by electing them Distinguished Fellows, the most recent winner is Yuliy Sannikov. Presidents of the include, Distinguished Fellow honorees include, An AEA site listing all Distinguished Fellows and, since 2004. Accompanying statements for years before 2004 may be found in the year of the American Economic Review
28.
ScienceDirect
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ScienceDirect is a website which provides subscription-based access to a large database of scientific and medical research. It hosts over 12 million pieces of content from 3,500 academic journals and 34,000 e-books, the journals are grouped into four main sections, Physical Sciences and Engineering, Life Sciences, Health Sciences, and Social Sciences and Humanities. Article abstracts are available, but access to their full texts generally require a subscription or pay-per-view purchase. It is operated by the Anglo-Dutch publisher Elsevier and it was launched in March 1997. List of academic databases and search engines Scopus Thomas G. De Petro, ScienceDirect Through SciVerse, A New Way To Approach Elsevier. Carol Tenopir, Peiling Wang, Yan Zhang, Beverly Simmons, academic users interactions with ScienceDirect in search tasks, Affective and cognitive behaviors. Hao-Ren Ke, Rolf Kwakkelaar, Yu-Min Tai, Li-Chun Chen, exploring behavior of E-journal users in science and technology, Transaction log analysis of Elseviers ScienceDirect OnSite in Taiwan. David Nicholas, Ian Rowlands, Paul Huntington, Hamid R. Jamali, diversity in the e-journal use and information-seeking behaviour of UK researchers
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Nobel Foundation
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The Nobel Foundation is a private institution founded on 29 June 1900 to manage the finances and administration of the Nobel Prizes. The Foundation is based on the last will of Alfred Nobel and it also holds Nobel Symposia on important breakthroughs in science and topics of cultural or social significance. Alfred Bernhard Nobel, born on 21 October 1833 in Stockholm Sweden, was a chemist, engineer, innovator, armaments manufacturer and he owned Bofors, a major armaments manufacturer, which he had redirected from its original business as an iron and steel mill. Nobel held 355 different patents, dynamite being the most famous, Nobel amassed a sizeable personal fortune during his lifetime, thanks mostly to this invention. In 1896 Nobel died of a stroke in his villa in San Remo, Nobels will expressed a request, to the surprise of many, that his money be used for prizes in physics, chemistry, peace, physiology or medicine and literature. Though Nobel wrote several wills during his lifetime, the last was written a little over a year before he died, Nobel bequeathed 94% of his total assets,31 million Swedish kronor, to establish and endow the five Nobel Prizes. The executors of his will were Ragnar Sohlman and Rudolf Lilljequist who formed the Nobel Foundation to take care of Nobels fortune, as of December 31,2015, the assets controlled by the Nobel Foundation amounted to 4.065 billion Swedish kronor. The Nobel Foundation was founded as an organisation on 29 June 1900 specifically to manage the finances. It is based on Nobels last will and testament, at the time Nobels will led to much specticism and criticism and thus it was not until April 26,1897 that his will was approved by the Storting. Soon thereafter they appointed the members of the Norwegian Nobel Committee that was to award the Peace Prize, shortly after, the other prize-awarding organizations followed, Karolinska Institutet on June 7, the Swedish Academy on June 9 and the Royal Swedish Academy of Sciences on June 11. The next thing the Nobel Foundation did was to try to agree on guidelines for how the Nobel Prize should be awarded, in 1900 the Nobel Foundations newly created statutes were promulgated by King Oscar II. In 1905 the Union between Sweden and Norway was dissolved which meant the responsibility for awarding Nobel Prizes was split between the two countries, norways Nobel Committee became the awarder of the Peace Prize while Sweden became the awarder of the other prizes. In accordance with Nobels will, the task of the Nobel Foundation is to manage the fortune Nobel left after him in a fund. Another important task of the Nobel Foundation is to represent the Nobel Prize to the outside world, the Nobel Foundation is not involved in any way in the process of selecting the Nobel laureates. In many ways the Nobel Foundation is similar to an investment company in that it invests money in ways to create a solid funding base for the prize. The Nobel Foundation is exempt from all taxes in Sweden and from investment taxes in the United States, since the 1980s the Foundations investments began to earn more money than previously. At the beginning of the 1980s the award money was 1 million SEK, according to the statutes the Foundation should consist of a Board with its seat in Stockholm. It should consist of five men, the Chairman of the board should be appointed by the King in Council
. doi:10.1561/100.00013006.
