Books on the topic 'NLO Calculations'

This chapter centres around the treatment of QCD emissions to all orders. After introductory remarks about the analytic properties of the radiation pattern, some of the most striking phenomenological consequences of non-trivial quantum effects, in particular, the angular ordering property of QCD, are highlighted. Next, analytic resummation techniques are considered, expanding on the treatment of transverse momentum resummation from Chapter 2, and introducing the idea of threshold resummation. BFKL resummation, which resums large logarithms emerging in the high-energy limit, is also introduced. In the second part of this chapter, the probabilistic simulation of QCD radiation through the parton shower is discussed. After a detailed introduction to different schemes and algorithms, the discussion of the combination of the parton shower with fixed-order matrix elements beyond the Born approximation is considered, with a discussion of matching with NLO calculations and the merging with multijet matrix elements.

The narrative I construct in this book lays emphasis on technical practice in observation, instrumentation and calculation, and the steady accumulation of data over many years—but it centres on the activity of the individual human beings who observed the heavens, recorded what they saw, and made calculations to analyse and eventually make predictions about the motions of the celestial bodies. Some of these people had official posts that gave them responsibility for work of this kind; others held official rank without such responsibilities, but still played a major role in technical discussions about celestial phenomena. A few others held no official rank at all, but showed themselves well capable of talking and writing about the heavens at an expert level. It is these individuals, their observations, their calculations and the words they left to us that provide the narrative thread that runs through this work....

Parametric bootstrapping (BS) provides an attractive alternative, both theoretically and numerically, to asymptotic theory for estimating sampling distributions. This chapter summarizes its use not only for calculating confidence intervals for estimated parameters and functions of parameters, but also to obtain log-likelihood-based confidence regions from which confidence bands for cumulative distribution and regression functions can be obtained. All such BS calculations are very easy to implement. Details are also given for calculating critical values of EDF statistics used in goodness-of-fit (GoF) tests, such as the Anderson-Darling A2 statistic whose null distribution is otherwise difficult to obtain, as it varies with different null hypotheses. A simple proof is given showing that the parametric BS is probabilistically exact for location-scale models. A formal regression lack-of-fit test employing parametric BS is given that can be used even when the regression data has no replications. Two real data examples are given.

In Poland, the bird’s-eye primrose (P. farinosa) is a rare and critically endangered species. Currently, it occurs only in one location in the area of the Jaworki village in Radziejowa Range (of Beskid Sądecki mountains). This is the last of the nine previously existing locations, and the only one occurring in the mountains. To maintain the species, as well as the moutain fen on which it grows, a multiannual conservation program has been implemented, including, among other measures, conducting environmental monitoring and performing active protection procedures. In 2012–2014, studies were carried out, aiming to identify the phenology of P. farinosa in its natural location amid other elements of local flora, and to elaborate reasonably accurate forecast methods of its phenological phases, in relation to the performed procedures. One of the methods was based on comparing subsequent phenological phases of P. farinosa, mainly the dates of flowering and opening of the fruits, with the dates of flowering of other species that commonly occur in the vicinity. On the basis of temperature data from the IMGW meteorological station in Krościenko nad Dunajcem, available via the Internet, an attempt to forecast the phenophases of P. farinosa has also been made, based on the developed network of nearby meteorological stations. A degree-days method was used. Prior to that, a value of base temperature (Tb) characteristic for P. farinosa was assessed, as necessary for further calculations, and the values of SAT (Sum of Active Temperatures, using the formula for GDD values) have been determined for the dates of occurrence of subsequent phenological phases of P. farinosa. These parameters were calculated using temperature data recorded at the location. During the observations, it was established that the dates of flowering for P. farinosa were dependent on the air temperatures during spring. The flowering period of the population in Jaworki took place in the months of April through to June, and it did not exceed 7.5 weeks. P. farinosa is one of the earliest blooming species in that location. Other species, also flourishing during the blooming thereof, included Eriophorum angustifolium, Caltha laeta, Chrysosplenium alternifolium, Oxalis acetosella, and Primula elatior. The full bloom of P. farinosa lasted for about 2 weeks, and it took place between the end of April and the end of the second decade of May. During its full bloom, in that same location, Cardamine pratensis, Geum rivale, and Valeriana simplicifolia also flourished. Trees and bushes from the rose (Rosaceae) family proved to be especially useful in the forecasting of P. farinosa flowering period. During the flowering of P. farinosa, in lower locations, species from the Prunus and Cerasus genera subsequently flourished, followed by the Malus, Sorbus, and Crataegus genera. The opening of P. farinosa fruits was observed in the last days of June or at the beginning of July. The date of commencement and duration of this phase is probably subject also to the degree of air humidity. Although in this period numerous species flourish such as Ononis arvensis, Valeriana sambucifolia, Cichorium intybus, Melilotus alba, Achillea millefolium, Daucus carota, Geranium pratense, and Agrimonia eupatoria, the forecasts based on those are not accurate. When forecasting this phase, as well as the majority of other phases, the SAT value calculation based on the degree-days method works well. The Tb base temperature (threshold temperature) for P. farinosa from Jaworki, determined for its calculation, is 0.75°C. However, for the calculation purposes, the rounded value of Tb = 1.0°C can also be used. When adopting the value of Tb = 0.75°C for calculations, the full bloom of P. farinosa falls within the period in which the SAT values remain between 310°C and 469°C, the optimum (culmination) of the full bloom occurs at about 408°C, and the beginning of capsules opening and release of P. farinosa seeds occur when the SAT values reach 1049°C. For Tb = 1.0°C the full bloom falls within the period in which the SAT values are between 295°C and 449°C, the optimum of full bloom occurs at 390°C, and the capsules begin opening at 1018°C. When using this method, the differences between the forecasted and the observed dates of P. farinose blooming were between –4 and +3 days, and the beginning of opening of its fruits, between –1 and 0 days. In case of no temperature data available from the given location, the forecasting can be also performed based on the data from the IMGW meteorological station in Krościenko. The accuracy of calculations is increased through the implementation of appropriate temperature data adjustments, resulting from the difference of location and height. The temperatures in Jaworki are 2°C lower compared to the station in Krościenko. The dates determined in this way are less accurate than those determined directly at the location, and they differ from the actual dates: in case of full bloom, the difference is in the range of –6 to +2 days, and in case of the beginning of capsules’ opening, it is –2 to –1 days. Probably, it is also possible to implement forecasting based on the data from new automated meteorological stations situated closer to the location, but this can be done only after the adjustment appropriate for every station has been determined and implemented. As demonstrated, the elaborated forecasting methods of P. farinosa phenological phases at the location in Jaworki (Beskid Sądecki) are sufficiently accurate and they may be used in the future as a tool supporting the implementation of measures related to active protection of the species.

Here’s the one place to look for normal values and related need-to-know data! Now you no longer have to search through multiple resources for reference ranges and other critical values you need to optimize patient assessment and management. The new Reference Range Values for Pediatric Care brings all the most vital range data - plus diverse clinical evaluation and calculation tools - all together in one concise, compact handbook. Indispensable pediatric reference ranges - right at your fingertips Custom-designed for today’s busy practitioners, this quick-access resource provides commonly used ranges and values spanning birth through adolescence. Data needed for management of preterm newborns and other neonates is highlighted throughout. Look here for practice-focused help with: - Blood pressure ranges - Body surface area calculation - Bone age metrics - Hematology values - Cerebrospinal fluid values - Lymphocyte subset counts - Clinical chemistry ranges - Thyroid function - Umbilical vein and artery catheterization measurements - Caloric intake values - And more! Also includes assessment and management tools you’ll use again and again Save time and simplify clinical problem-solving with a full set of easy-to-use tools from the AAP and other authoritative sources: - APGAR and Ballard newborn screening - Growth charts - Metric conversion tables - Pain scales - Blood pressure nomograms - Hyperbilirubinemia nomograms - Enternal formulas - GIR calculators - AAP immunization schedules - AAP periodicity schedule Drug administration and monitoring guidelines The handbook includes must-know basics on commonly used antibiotics and antiseizure medications - complete with recommended dosages and serum target levels.

This chapter explores biodiversity offsetting as a tool used to achieve “no net loss” of biodiversity. Unfortunately, no-net-loss offsetting can be—and often is—unintentionally designed in a way that inevitably results in ongoing biodiversity decline. Credit for offset sites is given in proportion to the assumed loss that would happen at those sites if not protected, and this requires clear baselines and good estimates of the risk of loss. This crediting calculation also creates a perverse incentive to overstate—or even genuinely increase—the threat to biodiversity at potential offset sites, in order to generate more offset “credit” that can then be exchanged for damaging actions elsewhere. The phrase “no net loss,” when used without an explicit frame of reference and quantified counterfactual scenario, is meaningless, and potentially misleading. Conservation scientists have a core role in interpreting, communicating, and improving the robustness of offset policy.

This chapter focuses on the standardized approach, which is the bedrock of the Basel system. Although many of the largest banks are internal ratings-based banks, there is probably no bank currently existing which does not use some elements of the standardized approach as part of its overall capital calculation. The discussions cover classification of exposures, credit conversion factors, and credit risk mitigation; ratings and rating agencies; exposures to sovereigns; multilateral development banks; exposures to banks and financial institutions; exposures to corporates; exposures to retail customers; commercial mortgage exposures; overdue undefaulted exposures; high-risk exposures; covered bonds; securitization exposures; short-term claims on financial institutions and corporates; fund exposures: and off-balance sheet items.

This article focuses on the phonon transport or thermal transport of small systems, including quasi-one-dimensional systems such as carbon nanotubes. The Fourier law well describes the thermal transport phenomena in normal bulk materials. However, it is no longer valid when the sample dimension reduces down to below the mean-free path of phonons. In such a small system, the phonons propagate coherently without interference with other phonons. The article first considers the Boltzmann–Peierls formula of diffusive phonon transport before discussing coherent phonon transport, with emphasis on the Landauer formulation of phonon transport, ballistic phonon transport and quantized thermal conductance, numerical calculation of the phonon-transmission function, and length dependence of the thermal conductance.

Biological effects of radiation have been interpreted based on the assumption that DNA is the primary target, but recent research has shown that non-targeted mechanisms may affect cells that are not directly exposed. The most important effect in humans from low doses of radiation is the induction of cancer, but risks of other effects such as cataract and cardiac or circulatory disease are becoming apparent. Epidemiological studies of Japanese survivors of atomic bombs demonstrate a clear linear relationship between solid cancer incidence and organ dose. This is supported by other epidemiological data. This has become the gold standard for prediction of malignancy based on a linear no-threshold ‘LNT’ extrapolation, which links risk directly to radiation dose. However, the risk calculations involve many assumptions and approximations. They are designed to provide guidance on which a workable protection framework can be based. It is important that practitioners are aware of their limitations.

This article discusses the role of ‘spatial interdependence’ between units of analysis by using a symmetric weighting matrix for the units of observation whose elements reflect the relative connectivity between unit i and unit j. It starts by addressing spatial interdependence in political science. There are two workhorse regression models in empirical spatial analysis: spatial lag and spatial error models. The article then addresses OLS estimation and specification testing under the null hypothesis of no spatial dependence. It turns to the topic of assessing spatial lag models, and a discussion of spatial error models. Moreover, it reports the calculation of spatial multipliers. Furthermore, it presents several newer applications of spatial techniques in empirical political science research: SAR models with multiple lags, SAR models for binary dependent variables, and spatio-temporal autoregressive (STAR) models for panel data.

In this groundbreaking book, Raghavan uses previously untapped archival sources to weave together new stories about the experiences of post-partition state-making in South Asia. Through meticulous research, it challenges the existing wisdom about the preponderance of animosity and the rhetoric of war. The book shows how amity and a spirit of cordiality governed relations between the states of India and Pakistan in the first five years after partition. Arguing that a hitherto overlooked set of considerations have to be integrated more closely into the analysis of bilateral dialogue, this book analyses the developments leading to the No War correspondence between Nehru and Liaquat Ali Khan, the signing of a ‘Minorities’ Pact between the two prime ministers, and the early stages of the Indus Waters negotiations, as well as exploring the calculations of Indian and Pakistani delegates at a series of interdominion conferences held in the years after partition. This book will be of interest to specialists in histories of diplomatic practice as well as a general audience in search of narratives of peace in the South Asia region

Bayesian Statistics for Beginners is an entry-level book on Bayesian statistics. It is like no other math book you’ve read. It is written for readers who do not have advanced degrees in mathematics and who may struggle with mathematical notation, yet need to understand the basics of Bayesian inference for scientific investigations. Intended as a “quick read,” the entire book is written as an informal, humorous conversation between the reader and writer—a natural way to present material for those new to Bayesian inference. The most impressive feature of the book is the sheer length of the journey, from introductory probability to Bayesian inference and applications, including Markov Chain Monte Carlo approaches for parameter estimation, Bayesian belief networks, and decision trees. Detailed examples in each chapter contribute a great deal, where Bayes’ Theorem is at the front and center with transparent, step-by-step calculations. A vast amount of material is covered in a lighthearted manner; the journey is relatively pain-free. The book is intended to jump-start a reader’s understanding of probability, inference, and statistical vocabulary that will set the stage for continued learning. Other features include multiple links to web-based material, an annotated bibliography, and detailed, step-by-step appendices.

Risk and Social Theory in Environmental Management marks a timely contribution, given that environmental management is no longer just about protecting pristine ecosystems and endangered species from anthropogenic harm; it is about calculating and managing the risks to human communities of rapid environmental and technological change. Firstly, the book provides a solid foundation of the social theory underpinning the nature of risk, then presents a re-thinking of key concepts and methods in order to take more seriously the biophysical embeddedness of human society. Secondly, it presents a rich set of case studies from Australia and around the world, drawing on the latest applied research conducted by leading research institutions. In so doing, the book identifies the tensions that arise from decision-making over risk and uncertainty in a contested policy environment, and provides crucial insights for addressing on-ground problems in an integrated way.

Scars on the Land examines how the environment shaped the lives of the enslaved and how slavery remade the landscape of the American South. Over two centuries from the establishment of slavery in the Chesapeake to the Civil War, one simple calculation had profound consequences: rather than measuring productivity based on outputs per acre, Southern planters sought to maximize how much labor they could extract from their enslaved workforce. They saw the landscape as disposable, relocating to more fertile prospects once they had leached the soils and cut down the forests. The expanding enslaved frontier irrevocably transformed the environment. On its leading edge, slavery laid waste to fragile ecosystems, draining swamps and clearing forests to plant crops and fuel steamships. On its trailing edge, slavery left eroded hillsides, rivers clogged with sterile soil, and the extinction of native species. Although the precise mechanisms and effects varied in Virginia’s tobacco fields, Louisiana’s swamps, and North Carolina’s pine forests, slavery exacted the same swift price. While environmental destruction fueled slavery’s expansion, no environment could long survive intensive slave labor. The scars manifested themselves in different ways, but the land too fell victim to the slave owner’s lash.

This book is an introduction to quantum optics for students who have studied electromagnetism and quantum mechanics at an advanced undergraduate or graduate level. It provides detailed expositions of theory with emphasis on general physical principles. Foundational topics in classical and quantum electrodynamics, including the semiclassical theory of atom-field interactions, the quantization of the electromagnetic field in dispersive and dissipative media, uncertainty relations, and spontaneous emission, are addressed in the first half of the book. The second half begins with a chapter on the Jaynes-Cummings model, dressed states, and some distinctly quantum-mechanical features of atom-field interactions, and includes discussion of entanglement, the no-cloning theorem, von Neumann’s proof concerning hidden variable theories, Bell’s theorem, and tests of Bell inequalities. The last two chapters focus on quantum fluctuations and fluctuation-dissipation relations, beginning with Brownian motion, the Fokker-Planck equation, and classical and quantum Langevin equations. Detailed calculations are presented for the laser linewidth, spontaneous emission noise, photon statistics of linear amplifiers and attenuators, and other phenomena. Van der Waals interactions, Casimir forces, the Lifshitz theory of molecular forces between macroscopic media, and the many-body theory of such forces based on dyadic Green functions are analyzed from the perspective of Langevin noise, vacuum field fluctuations, and zero-point energy. There are numerous historical sidelights throughout the book, and approximately seventy exercises.

China and the World is the most comprehensive, up-to-date scholarly assessment of China’s foreign relations and roles in international affairs. Students, scholars, practitioners, and publics worldwide will benefit from the information and insights contained herein. Written by sixteen leading international specialists, it covers China’s contemporary position in all regions of the world, with all major powers, and across multiple arenas of China’s international interactions. It also explores the sources of China’s grand strategy, how the past shapes the present, and the impact of domestic factors that shape China’s external behavior. As the world evolves in increasingly unpredictable directions, the impact of China will be one of the key determinants of the future global order. No country or society can escape China’s reach—indeed, many seek its embrace. China brings benefits to many but is also a problematic interlocutor for others. Overall, public opinion surveys indicate that China’s reputation around the world is mixed, with as many societies viewing China favorably as unfavorably. This volume explores the sources of this ambivalence. As China becomes a leading global power, and its footprint continually expands on different continents, understanding the parameters of its international presence, and what motivates China, is imperative for others. This volume digs deep inside China’s multidimensional “toolbox” to explore the instruments that Beijing uses around the world: economic, diplomatic, cultural, military, media, and other elements. China and the World provides many insights into China’s calculations and behavior and identifies a number of challenges China will face in the future.

Glomerular filtration, the first step leading to the formation of primitive urine, is a passive phenomenon. The composition of this primitive urine is the consequence of the ultrafiltration of plasma depending on renal blood flow, on hydrostatic pressure of glomerular capillary, and on glomerular coefficient of ultrafiltration. Glomerular filtration rate (GFR) can be precisely measured by the calculation of the clearance of freely filtrated exogenous substances that are neither metabolized nor reabsorbed nor secreted by tubules: its mean value is 125 mL/min/1.73 m² in men and 110 mL/min/1.73 m² in women, which represents 20% of renal blood flow. In clinical practice, estimates of GFR are obtained by the measurement of creatininaemia followed by the application of various equations (MDRD or CKD-EPI) and more recently by the measurement of plasmatic C-cystatin. Under physiological conditions, GFR is a stable parameter that is regulated by the intrinsic vascular and tubular autoregulation, by the balance between paracrine and endocrine agents acting as vasoconstrictors and vasodilators, and by the effects of renal sympathetic nerves. The mechanisms controlling GFR regulation are complex. This is due to the variety of vasoactive agents and their targets, and multiple interactions between them. Nevertheless, the relative stability of GFR during important variations of systemic haemodynamics and volaemia is due to three major operating mechanisms: autoregulation of the afferent arteriolar resistance, local synthesis and action of angiotensin II, and the sensitivity of renal resistance vessels to respond to NO release.

Pi (π) is used to represent the most known mathematical constant. By definition, π is the ratio of the circumference of a circle to its diameter. In other words, π is equal to the circumference divided by the diameter (π = c / d). Conversely, the circumference is equal to π times the diameter (c = π . d). No matter how big or small a circle is, pi will always be the same number. The first calculation of π was made by Archimedes of Syracuse (287-212 BC) who approached the area of a circle using the Pythagorean Theorem to find the areas of two regular polygons: the polygon inscribed within the circle and the polygon within which circle was circumscribed. Since the real area of the circle is between the areas of the inscribed and circumscribed polygons, the polygon areas gave the upper and lower limits to the area of the circle. Archimedes knew he had not found the exact value of π, but only an approximation within these limits. In this way, Archimedes showed that π is between 3 1/7 (223/71) and 3 10/71 (22/7). This research demonstrates that the value of π is 3.15 and can be represented by a fraction of integers, a/b, being therefore a Rational Number. It also demonstrates by means of an exercise that π = 3.15 is exact in 100% in the mathematical question.

Rural areas are subject to constant structural, spatial and economic transformations. The main purpose of this monograph was to present a new concept of shaping of rural land arrangement that takes into account the land value. The presented optimization methodology of shaping of the rural areas has a general range of application, not being limited by time or place. of the location of the consolidation object. The only condition for its use is the availability of a specific set of output data enabling the necessary calculations for the implementation of consolidation works. The described method has been successfully applied to the research object of the Mściowojów village, in a registry area located in the Dolnośląkie voivodeship, in the Jaworski district, providing with the assumed effects. In order to meet the research objectives, the shaping of rural land arrangement was conducted according to five models. The original arrangement of existing land division in a given village is considered as the 1st model. The 2nd model uses a rather accurate description of the locations of the lands in the village. To define this feature the location of farm parcels had to be determined. This model is the most accurate, but also the most labor-intensive of all. In the 3rd model, a fundamental simplification of the land arrangement was adopted, limiting the distance matrix to its measurement to the entry points from the settlements into the complexes. This simplification means that the location of parcels in the complex does not affect the average distance to the land in the whole village. On the basis of simplifications applied in the 3rd model allowing a significant reduction of the distance matrix the 4th model which uses a linear programming to minimize the distance to a parcel was developed. Introducing into the linear model an additional condition that eliminates distance growth in farms in relation to the initial state was important for the research. This was implemented in the 5th model and had a positive impact on the obtained results. The 6th model was developed by including the landowners' wants into the 5th model. These had to be taken into account so that the research/the new land arrangement did not cause complaints. The wants could not be fully included due to their inherently contradictory nature. The wants for having the parcel in a given arrangement was replaced with a guarantee of division, after which landowner receives no smaller share than the prior one. As demonstrated in the work, the solutions of the developed models allowed obtaining land arrangements close to the optimal in terms of distance to land and the shape of parcels and farms with regard to land specifics. The presented results allow to draw a conclusion that the methods and analyses applied in the research can have a wide range of application in shaping of rural land arrangement. Developing the most socially accepted optimization of parcel division in the process of land consolidation is important due to the actual needs for the implementation of the rural land arrangement research. This may also have influence on better use of the EU's financial resources for the consolidation of agricultural lands.

Economy and mankind are inextricably interlinked. Just as the economy or the production of material wealth is unimaginable without a man, so human existence and development are impossible without the wealth created in the economy. Shortly, both the goal and the means of achieving and realization of the economy are still the human resources. People have long ago noticed that it was the economy that created livelihoods, and the delays in their production led to the catastrophic events such as hunger, poverty, civil wars, social upheavals, revolutions, moral degeneration, and more. Therefore, the special interest of people in understanding the regulatory framework of the functioning of the economy has existed and exists in all historical epochs [A. Sisvadze. Economic theory. Part One. 2006y. p. 22]. The system of economic disciplines studies economy or economic activities of a society. All of them are based on science, which is currently called economic theory in the post-socialist space (the science of economics, the principles of economics or modern economics), and in most countries of the world - predominantly in the Greek-Latin manner - economics. The title of the present book is also Modern Economics. Economics (economic theory) is the science that studies the efficient use of limited resources to produce and distribute goods and services in order to satisfy as much as possible the unlimited needs and demands of the society. More simply, economics is the science of choice and how society manages its limited resources. Moreover, it should be emphasized that economics (economic theory) studies only the distribution, exchange and consumption of the economic wealth (food, beverages, clothing, housing, machine tools, computers, services, etc.), the production of which is possible and limited. And the wealth that exists indefinitely: no economic relations are formed in the production and distribution of solar energy, air, and the like. This current book is the second complete updated edition of the challenges of the modern global economy in the context of the coronary crisis, taking into account some of the priority directions of the country's development. Its purpose is to help students and interested readers gain a thorough knowledge of economics and show them how this knowledge can be applied pragmatically (professionally) in professional activities or in everyday life. To achieve this goal, this textbook, which consists of two parts and tests, discusses in simple and clear language issues such as: the essence of economics as a science, reasons for origin, purpose, tasks, usefulness and functions; Basic principles, problems and peculiarities of economics in different economic systems; Needs and demand, the essence of economic resources, types and limitations; Interaction, mobility, interchangeability and efficient use of economic resources. The essence and types of wealth; The essence, types and models of the economic system; The interaction of households and firms in the market of resources and products; Market mechanism and its elements - demand, supply and price; Demand and supply elasticity; Production costs and the ways to reduce them; Forms of the market - perfect and incomplete competition markets and their peculiarities; Markets for Production Factors and factor incomes; The essence of macroeconomics, causes and importance of origin; The essence and calculation of key macroeconomic indicators (gross national product, gross domestic product, net national product, national income, etc.); Macroeconomic stability and instability, unemployment, inflation and anti-inflationary policies; State regulation of the economy and economic policy; Monetary and fiscal policy; Income and standard of living; Economic Growth; The Corona Pandemic as a Defect and Effect of Globalization; National Economic Problems and New Opportunities for Development in the conditions of the Coronary Crisis; The Socio-economic problems of moral obsolescence in digital technologies; Education and creativity are the main solution way to overcome the economic crisis caused by the coronavirus; Positive and negative effects of tourism in Georgia; Formation of the middle class as a contributing factor to the development of tourism in Georgia; Corporate culture in Georgian travel companies, etc. The axiomatic truth is that economics is the union of people in constant interaction. Given that the behavior of the economy reflects the behavior of the people who make up the economy, after clarifying the essence of the economy, we move on to the analysis of the four principles of individual decision-making. Furtermore, the book describes how people make independent decisions. The key to making an individual decision is that people have to choose from alternative options, that the value of any action is measured by the value of what must be given or what must be given up to get something, that the rational, smart people make decisions based on the comparison of the marginal costs and marginal returns (benefits), and that people behave accordingly to stimuli. Afterwards, the need for human interaction is then analyzed and substantiated. If a person is isolated, he will have to take care of his own food, clothes, shoes, his own house and so on. In the case of such a closed economy and universalization of labor, firstly, its productivity will be low and, secondly, it will be able to consume only what it produces. It is clear that human productivity will be higher and more profitable as a result of labor specialization and the opportunity to trade with others. Indeed, trade allows each person to specialize, to engage in the activities that are most successful, be it agriculture, sewing or construction, and to buy more diverse goods and services from others at a relatively lower price. The key to such human interactions is that trade is mutually beneficial; That markets are usually the good means of coordination between people and that the government can improve the results of market functioning if the market reveals weakness or the results of market functioning are not fair. Moroever, it also shows how the economy works as a whole. In particular, it is argued that productivity is a key determinant of living standards, that an increase in the money supply is a major source of inflation, and that one of the main impediments to avoiding inflation is the existence of an alternative between inflation and unemployment in the short term, that the inflation decrease causes the temporary decline in unemployement and vice versa. The Understanding creatively of all above mentioned issues, we think, will help the reader to develop market economy-appropriate thinking and rational economic-commercial-financial behaviors, to be more competitive in the domestic and international labor markets, and thus to ensure both their own prosperity and the functioning of the country's economy. How he/she copes with the tasks, it is up to the individual reader to decide. At the same time, we will receive all the smart useful advices with a sense of gratitude and will take it into account in the further work. We also would like to thank the editor and reviewers of the books. Finally, there are many things changing, so it is very important to realize that the XXI century has come: 1. The century of the new economy; 2. Age of Knowledge; 3. Age of Information and economic activities are changing in term of innovations. 1. Why is the 21st century the century of the new economy? Because for this period the economic resources, especially non-productive, non-recoverable ones (oil, natural gas, coal, etc.) are becoming increasingly limited. According to the World Energy Council, there are currently 43 years of gas and oil reserves left in the world (see “New Commersant 2007 # 2, p. 16). Under such conditions, sustainable growth of real gross domestic product (GDP) and maximum satisfaction of uncertain needs should be achieved not through the use of more land, labor and capital (extensification), but through more efficient use of available resources (intensification) or innovative economy. And economics, as it was said, is the science of finding the ways about the more effective usage of the limited resources. At the same time, with the sustainable growth and development of the economy, the present needs must be met in a way that does not deprive future generations of the opportunity to meet their needs; 2. Why is the 21st century the age of knowledge? Because in a modern economy, it is not land (natural resources), labor and capital that is crucial, but knowledge. Modern production, its factors and products are not time-consuming and capital-intensive, but science-intensive, knowledge-intensive. The good example of this is a Japanese enterprise (firm) where the production process is going on but people are almost invisible, also, the result of such production (Japanese product) is a miniature or a sample of how to get the maximum result at the lowest cost; 3. Why is the 21st century the age of information? Because the efficient functioning of the modern economy, the effective organization of the material and personal factors of production largely depend on the right governance decision. The right governance decision requires prompt and accurate information. Gone are the days when the main means of transport was a sailing ship, the main form of data processing was pencil and paper, and the main means of transmitting information was sending letters through a postman on horseback. By the modern transport infrastructure (highways, railways, ships, regular domestic and international flights, oil and gas pipelines, etc.), the movement of goods, services and labor resoucres has been significantly accelerated, while through the modern means of communication (mobile phone, internet, other) the information is spreading rapidly globally, which seems to have "shrunk" the world and made it a single large country. The Authors of the book: Ushangi Samadashvili, Doctor of Economic Sciences, Associate Professor of Ivane Javakhishvili Tbilisi State University - Introduction, Chapters - 1, 2, 3, 4, 5, 6, 9, 10, 11,12, 15,16, 17.1,18 , Tests, Revaz Shengelia, Doctor of Economics, Professor of Georgian Technical University, Chapters_7, 8, 13. 14, 17.2, 17.4; Zhuzhuna Tsiklauri - Doctor of Economics, Professor of Georgian Technical University - Chapters 13.6, 13.7,17.2, 17.3, 18. We also thank the editor and reviewers of the book.