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Item Measuring economic country-specific uncertainty in Türkiye(Springer Nature, 2024-06-12) Kilic I; Balli FIn this paper, a new measure for uncertainty that affects the economy is proposed, constructed, and applied to an emerging economy, Türkiye. We have constructed an index of economic country-specific uncertainty (ECSU) that is in line with the methodology used in constructing economic policy uncertainty indexes. As the economic uncertainty is of the Knightian type, the essence of measuring it lies in counting the frequency of joint appearances of words related to economics and uncertainty in Turkish-language newspapers. The uncertainty index constructed using local language sources- Turkish performs significantly better in measuring country-specific uncertainty in Türkiye. However, some indexes use English language sources to measure uncertainty in Türkiye- did not make them country-specific. The ECSU was tested by evaluating the dynamic real effects of the uncertainty. This evaluation was performed by the analysis of impulse responses from uncertainty to some economic variables in a vector autoregressive model describing the economy of Türkiye. We find that an unexpected increase in uncertainty in the Turkish-language press is related to decreases in industrial production, employment, and trade. If the uncertainty measure is based on the articles from the English-language press only, no such relationship can be confirmed. We also find that an increase in uncertainty leads to increase in inflation and stock and oil prices.Item An exploration of embeddedness : with special reference to Japan : a thesis presented in partial fulfilment of the requirements for the degree of Master of Arts in Economics at Massey University(Massey University, 2001) Bruin, Jan C. M. deThis thesis utilises the economic sociology concept of embeddedness as the theoretical underpinning to provide an alternative perspective to traditional explanations of economic growth. In general, the advantages of social embeddedness have been the main focus in the literature on the topic. The main purpose of this study is to explore, with special reference to Japan, how embedded relationships could both enable and hinder growth. The study examines the operation of embedded ties in four key areas: inter-firm interaction with an emphasis on the auto-industry; embedded relationships within the financial sector; networks in the internationalisation of firms and embeddedness between government and business, including a case study of the construction industry. It finds that while embedded ties have several advantageous facets, they also have the potential to be an impediment to growth, flexibility and adaptability to change. Network ties can expand and become so rigidly structured, especially in a Confucian society like Japan, as to become obstacles particularly in the face of changing economic circumstances. They can atrophy. This finding led to the development of the concluding notion of "atrophied embeddedness".Item Exploring business students' ability to think in an economic way : a study in an introductory economics course at one New Zealand tertiary institution : a thesis presented in partial fulfilment of the requirements for the degree of Master of Education (Adult Education) at Massey University, Palmerston North, New Zealand(Massey University, 2014) Turvey, Janet LindaThe teaching of economics at an introductory level in the tertiary sector is fraught with challenges. Students arrive from a wide variety of backgrounds. Some have little more than a lay person’s understanding of the economic world, whilst others have studied the subject previously and are familiar with the language, techniques and models embedded within it. These techniques are usually described collectively as the ‘economic way of thinking’ by economists. Most students are also studying the subject as part of a wider business qualification and therefore it is not their main focus during their studies. This problem has been researched extensively by many teachers of economics over the past forty years, but students still appear to emerge from their fast paced courses with only the rudimentary understandings of the subject. The aim of this study was designed to investigate whether students, studying a one semester introductory course in economics at an Institute of Technology and Polytechnic (ITP) in New Zealand, could demonstrate that they were beginning to ‘think like economists’. The data used as evidence were the reflective journals or diaries of the students’ learning. The study further aimed to discover whether the construct of threshold concepts could contribute to an understanding of the problems and challenges that many students demonstrated within their journals. The sample group for study was taken from three introductory economics courses at one ITP in New Zealand. Students were studying this course either as a compulsory component of their Bachelor of Business Studies or part of a core of subjects for New Zealand Diploma in Business. Thirty seven students’ journals provided valid data for the study. The design employed a constructivist epistemology and an interpretivist theoretical perspective, using a qualitative research approach. The journals were analysed for evidence of students’ understanding by means of tables developed specifically for this purpose. An analysis was further carried out of students’ quotations from the reflective journals to establish evidence of the ‘economic way of thinking’ through nineteen foundation aspects within their journals. ii The findings of this study showed that from 703 observations of 37 students’ journal entries 206 had demonstrated a sophisticated level of the ‘economic way of thinking’ (categorised as level 3), 338 showed they were transitioning in their thinking (level 2), and 159 demonstrated negligible understanding of the ‘economic way of thinking’ (level 1). Four propositions and recommendations were developed. A substantial group of students did demonstrate evidence of a sophisticated understanding of certain foundation aspects of the ‘economic way of thinking’ and the reflective journals provided evidence of this. Some of the foundation aspects appeared to create greater challenges for all students, but they were not all necessarily threshold concepts by themselves. It was also proposed that the literature on threshold concepts could assist in targeting the gaps students had in their understanding, whilst a web developed of the foundation aspects of the ‘economic way of thinking’ might assist students to appreciate the integrative nature of these aspects. Other avenues of further research might be the importance of teaching about threshold concepts to target specific troublesome areas, and the significance of the type of activities carried out in the journal that most contributes to the students’ understanding. The perceptions students have of the use of reflective journals for their learning and teacher feedback during the writing of the journal could be further possibilities in the future.Item A study of Paul A. Samuelson's Economics : making economics accessible to students : a thesis presented in partial fulfilment of the requirements for the degree of Doctor of Philosophy in Economics at Massey University, Palmerston North, New Zealand(Massey University, 2000) Smith, LeannePaul A. Samuelson is the founder of the modern introductory economics textbook. His textbook Economics has become a classic, and the yardstick of introductory economics textbooks. What is said to distinguish economics from the other social sciences is the development of a textbook tradition. The textbook presents the fundamental paradigms of the discipline, these gradually evolve over time as puzzles emerge, and solutions are found or suggested. The textbook is central to the dissemination of the principles of a discipline. Economics has, and does contribute to the education of students, and advances economic literacy and understanding in society. It provided a common economic language for students. Systematic analysis and research into introductory textbooks is relatively recent. The contribution that textbooks play in portraying a discipline and its evolution has been undervalued and under-researched. Specifically, applying bibliographical and textual analysis to textbook writing in economics, examining a single introductory economics textbook and its successive editions through time is new. When it is considered that an economics textbook is more than a disseminator of information, but a physical object with specific content, presented in a particular way, it changes the way a researcher looks at that textbook. This thesis examines the sixteen editions of Economics as a physical object, and its content. Through this examination it is possible to see how Samuelson made economics accessible to students. A central question is has Economics evolved as the world around it has changed? Samuelson has a very student-oriented approach when writing his textbook. Readers of Economics come to understand economic concepts through relevant examples. Well-known people and events are used by Samuelson to illustrate economic theory and present economic ideas. In Economics Samuelson presents the principles of mainstream economics. He also portrays the social, psychological, political, and historical landscape of the time. Samuelson's Economics provides the non-professional economist (the student, businessperson, politician etc) with the principles of economics, presented in ways that are relevant to them, and relate to the issues they see and face in the world. Economics has not remained static; rather, it has developed over time. The ability of Economics to evolve has been the key to its survivalItem Is globalisation operating to reduce inflation : evidence from six OECD countries : a thesis submitted in partial fulfilment of the requirements from the Master of Business Studies (Economics) at Massey University, Albany Campus(Massey University, 2008) Cai, MenghanThis paper relates openness to the decline in inflation by using panel data for six OECD (the USA, Japan, Canada, Portugal, Finland, and Australia) countries over the period from 1980 to 2006. I obtain industrial level data for twenty industries in each of the six countries in the timeframe and estimate the effects of increases in openness, through its effect on productivity and markups on inflation. The methods used to construct the variables in this paper follow methods introduced in Chen, Imbs and Scott (2004), and the estimations follow Chen, Imbs and Scott (2007). The results suggest openness reduces the rate of inflation in the short run. Furthermore, it also reduces short run productivity and markups. The long run results are ambiguous, however. The evidence that openness leads to anti-competitive effects in the long run is weak. JEL Classification: E31, F12, F14, F15, L16 Keywords: Openness, Prices, Productivity, MarkupsItem Which species to save? : a theoretical and empirical analysis on the selection process involved with NGOs and species conservation : [a thesis submitted in partial fulfilment of the requirements for the degree of Master of Business Studies at Massey University, Albany](Massey University, 2008) Riley, Philip Arthur[No abstract supplied]