Personal Lifecycle Economics

Personal Lifecycle Economics : Draft Edition Winter 2015

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Description

Economists, including six Nobel Laureates, have spent close to a century developing the life-cycle model of saving and consumption. The life-cycle model provides a real-life framework for making financial decisions along your life's path and recognizing and valuing the financial aspects of seemingly non-financial decisions. The shorthand for this framework is life-cycle consumption smoothing where "smoothing" refers to the need to spread your economic resources over your lifetime, taking into account that your future is highly uncertain. The framework is standard microeconomic theory of household behavior extended to deal with decision-making that occurs over time as well as across times - both good times and bad times. Personal Life-Cycle Economics is a general introduction to the economics of personal finance suitable for college students with no previous background in economics or finance. The book emphasizes the development and application of the life-cycle model as the framework for evaluating all of your personal finance decisions and getting the best economic deal in life.show more

Product details

  • Paperback | 370 pages
  • 215.9 x 279.4 x 21.34mm | 1,052.33g
  • Createspace
  • United States
  • English
  • black & white illustrations
  • 1507544332
  • 9781507544334

About Aaron Stevens

Aaron has been a full-time Lecturer in the Department of Computer Science at Boston University since 2004. He has taught introductory classes for both computer science majors and non-majors. Aaron's teaching emphasis has been in teaching computer programming and web application development. In addition, Aaron developed and taught a class in personal life-cycle economics that ran from 2009-2013, and currently teaches a class in mathematical modeling for personal finance in the Department of Mathematics. Aaron is the holder of an undergraduate degree in business from Indiana University; a master's degree in computer science from Boston University; and a master's degree in finance from Boston College.show more