Econometrics is about:
Studying the relationship between economic variables
Using data to test economic theories. For example, using the appropriate data one can test whether there is positive relationship between household per capita food expenditure and income.
It can be used to quantify the impact of an economic variable on another economic variable. For example, using data one can estimate by how many percent demand for oil drops when price increases by 1%.

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Faculty of Business, Economics and Law代写

Bachelor of Business

Economic History

Essay Brief

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You are required to write an essay on one of the two following topics.

Topic 1: Many economic historians believe that good institutions are the key to modern economic growth. For the UK, we might look to the institutional changes associated with the sealing of the Magna Carta in 1215, 1216, and 1225 and the Glorious Revolution of 1688 for evidence in support of this belief. Your task for topic is to describe the long-run institutional change in any country, as it relates to economic development. You may look at any country that has been economically successful (at least for some period; Argentina offers the interesting case study of early success followed by relative decline through the 20^th Century).

For a framework for the essay, I suggest that you read either Structure and Change by Douglass C. North or The Rise and Decline of Nations by Mancur Olson. You will need to do your own digging for country specific material but talk to me if you are having trouble.

Topic 2: Reasonable people have variously argued that the British Industrial Revolution was not exclusively British, not primarily industrial, and, on further reflection, not a revolution after all. Regardless of the merits of these arguments, it is clear that Britain underwent significant social and economic change between 1780 and 1860. Your task for this topic is to trace out the changes in Britain in any one of the following:

1. The composition and structure of the family, including where they lived, who did what jobs and under what conditions. You may respond to this topic narrowly by considering the household economy, or broadly by considering demographic change and rural to urban migration.
2. The organisation of industry. The focus of this topic is on the organisation of firms and industries and the way in which business was conducted rather than the specifics of the products they produced. You may approach this topic from the perspective of corporate finance and examine how businesses were financed.
3. The standard of living. We are all beneficiaries of the Industrial Revolution. It is not clear that those who lived through it benefited. So, who did benefit, and from when?
4. How did the agricultural sector change during the Industrial Revolution? Who farmed what land and under what (employment or other) conditions? Did agriculture become more commercial?

For each of these there are relevant (and fully referenced) readings in The Economic History of Britain since 1700, Volume 1, 2^nd edition (Floud and McCloskey eds). Please also look through the paper list for the Abstracts for further readings.

You are better off writing in detail about a small number of important papers than superficially about a large number. So, pay attention to authors – you should know who the main contributors are in the field that you are writing about, and have used their most important works. In this vein, pay attention to the authors of the Floud and McCloskey chapters.

In addition, each of these topics can be divided into many sub-topics. For example, the debate over the standard of living can be divided (non-exhaustively) into: changes in real wages; changes in life expectancy and adult height; changes in the distribution of income; and the impact of the rise of the welfare state, including public education. You are free to define your topic narrowly or broadly; run ideas past me if you are not sure.

You may write on any of the above topics for a country other than Britain during their transition to modern economic growth. But you are then responsible for finding your starting material. I will help, so talk to me if you would like to write on a different country but be aware that there is the risk that the necessary material simply isn’t there.

Structure and Formatting

Length: 2,500 words, plus or minus 10% (you should be struggling to stay below the upper bound, rather than above the lower bound).

Font: Calibri, Cambria, Arial, Tahoma, and Times New Roman are all fine (as are the Mac equivalents).

Font size: 11 or 12 point (10 or 11 for Tahoma).

Line spacing: 1.5 or 2.

Referencing: The faculty officially requires APA, so that is always acceptable. I prefer the style used in Floud and McCloskey. It has some overlap with APA but is more flexible for in-text citations and easier on the reader. And because this a history paper, you may also use footnoted references (c.f. The Economic History Review).

General: For any other formatting concerns, please consult the Chicago Manual of Style. The library has print copies and online access. If you are using it for the first time, the print version will probably make more sense as the Manual has a section numbering system that works more naturally in a print book than on a website.

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Risepaper，专业降妖除魔，斩杀各类难搞的academic tasks！

Assignment

Read the case notes below and consider the data shown in the appendix.

Determine how this information can be used to shed light on the impact of equity ownership on company performance.

Then write a report for the Directors of JPD which addresses these issues.

Remember, the Directors of JPD are not experts in statistical analysis. Hence you will need to explain what you are doing and why, as well as the meaning of your results.

In structuring your report you may wish to consider the following framework. This does not mean that you simply respond to (a) to (d) below, but rather that you formulate headings and sub-headings for your briefing note using the framework as a starting point.

(a) A graphical representation of the data and a discussion of any issues or patterns which arise from this exercise. You need to decide upon the exact data to use and the appropriate graph(s).

(b) Univariate (single variable) and bivariate (two variable) analysis and discussion which considers the links between equity ownership and company performance.

(c) Multivariate (multiple variable) analysis and associated discussion which makes use of the data shown in Appendix I.

(d) Any other issues, problems or additional complications which you feel should be conveyed to the Directors of JPD with respect to your analysis.

Equity Ownership and Company Performance

You have recently been appointed as an analyst within PMC Inc. PMC is a UK consultancy company that undertakes independent research for client organisations.

Your first client is a large investment management firm (JPD) which provides advice and administrative services to both individuals and companies in relation to portfolio selection and specific asset purchase (stocks, bonds, etc.).

The Directors of JPD are interested in determining the impact which equity ownership has on company performance. In particular, the extent to which the separation of ownership and control provides opportunity for managers to undertake activities which negatively impact on performance and whether large shareholders can put pressure on managers to increase this performance.

You have been asked to undertake some quantitative analysis looking at this issue. While you are familiar with various different aspects of statistics and a number of statistical packages you have not undertaken a project of this nature before. Hence you start by conducting a literature search.

This search proves beneficial and you find that there are a number of existing studies which look at equity ownership and firm performance, although none specifically in a UK context.

In terms of theoretical work one of the overarching themes is that of the principal/agent problem. This suggests that the owners of a firm will want to pursue profit or value maximisation, but that on many occasions share ownership is so dispersed that the ability of shareholders to push managers in this direction is extremely limited. In contrast managers will have other objectives such as ‘empire building’ or a quest for higher salaries, with pursuit of these alternative objectives being possible (at the expense of profit) because control cannot be exerted by shareholders. This implies that in situations where equity ownership is not dispersed and instead resides to a large extent in the hands of a single organisation or individual then it should be possible to force managers to pursue value maximisation. However, there is also the suggestion that some of the owners of a company may have objectives other than maximum value.

In terms of empirical work there have been a number of studies which have attempted to look at the impact which ownership concentration (percentage shares of the largest owner) has on performance. Various measures of company performance have been used including accounting profit, market to book value and return on capital employed. In addition, some studies have looked at whether the identity of the largest owner (bank, institutional investor, etc.) has an effect on these performance measures. All such studies also contain ‘control variables’ which are likely to impact on company performance. The most frequently used of these is firm size. In addition, some studies have attempted to control for the industry in which the firms are located.

From the material you have identified you draw up a list of variables which can be used to identify the impact, if any, of equity ownership on performance. You then collect numerical data on each of these variables (details of the data can be found in Appendix I).

You now need to consider how you will analyse this information. In addition you need to consider how you will explain the approach(es) you have adopted and the implication of your analysis given that the Directors of JPD are not experts in quantitative or statistical methods.

Appendix I

The data for this assignment can be found in the file EO1.XLS . This information relates to a large sample of medium and large sized firms. In total there are 350 observations. The first 6 observations are shown below.

Variable definitions:

MBV: Market to book value.

Identity: Identity of the largest owner:

3 if bank,

4 if institutional investor,

5 if non-financial company,

6 if family or single person.

Con: Ownership concentration, percentage shares of the largest owner.

Size: Total assets of company, £ million.

ROCE: Return on capital employed, percent.

Industry: Sector in which company operates:

1 if manufacturing,

2 if services,

3 if primary.

扫一扫又不会怀孕，扫一扫，作业无烦恼。
留学顾问の QQ：2128789860
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凡是涉及到代写有点难度的finance 作业assignment论文paper毕业论文dissertation proposal project等等，肯定会涉及到计算，这些不仅需要大量的无休止的研究调研research，不少金融专业留学生代写Coursework Case Study需要大量的计算。

至于价格，肯定会水涨船高，锐泽代写致力于提供性价比最高的金融专业论文以及proposal代写，让所有有解题论证分析困难的金融专业留学生支付得起高质量的专业代写服务。

扫一扫又不会怀孕，扫一扫，作业无烦恼。
留学顾问の QQ：2128789860
留学顾问の微信：risepaper

注意

每道题目做完以后

把excel spread sheet 截屏以后，复制粘贴到word里面

锐泽代写，专注于留学生在线解压，在线online课业烦恼不要犯难，一站式解决方案

Assignment 5     

(This assignment is based on Problem 13.23 (edition 4) which you can find at the bottom. Do not do 13.23)

Jennifer was just born and her parents have decided to save money to pay for her college education.   They will invest $15,000 right now, and $10,000 each year on her future birthdays for the next 17 years (i.e. $10,000 when she turns 1, 2, 3,   …  16, 17).  They are bullish on America and are investing all of this money in the stock market.  The principal and returns are allowed to accumulate (i.e. are reinvested) in the equities market and no distribution of funds will be done before Jennifer starts college.  Assume that the returns of the stock market are normally distributed and are independent from year to year with a mean (µ) return of 7% and a standard deviation (σ) of 10%.  All investments returns are tax free.

REQUIRED  –  Jennifer is planning to go to college starting on her 18^th birthday; hence it is important for the parents to know how much money will have accumulated in her College Fund at that time (Call this the ACCUMULATION of the College Fund).  Construct a Monte-Carlo simulation model in EXCEL or CRYSTAL BALL (EXCEL add-on) to model the problem.  Run the simulation for at least 1,000 trials to answer the following questions:

1. What is the mean and the standard deviation of the ACCUMULATION?

1. What is the probability that the ACCUMULATION is over $300,000?  over $350,000? over $400,000?

1. What is the ACCUMULATION if the standard deviations is zero.  (Fixed return)

1. Can you compute a 95% confidence interval estimate of ACCUMULATION?    If so, what is it?  If not, why not?

1. Can this problem be solved without using simulation?  If so, how?

EXTRA CREDIT  –  Now consider the case where the rates of return are not independent from year to year.  There is an idea in finance that if returns are higher in a given year they will be lower in the next year.  (MEAN REVERSION).  Assume the following model:

The mean return in a given year  =  7% – α (Last year’s return –7%)

1. Modify your initial model and answer questions “a”, “b”, and “c” for  α = 0.25, 0.5, and 1.0

1. How do the results of this model compare with the original model?  Are they what you might have expected?  Comment.