astronomy

Ronald McKinnon (economist)

Ronald McKinnon (economist) is a astronomy topic covered in the lgStudy science library. This page brings together a partial reference excerpt, illustrations, worked examples, real-world applications and a short study plan, so you can understand Ronald McKinnon (economist) rather than just read about it. In short: Ronald Ian McKinnon (10 July 1935 – 1 October 2014) was an applied economist. His primary interests were international economics and economic development, with strong secondary interests in transitional economies and fiscal federalism.

Key takeaways

Ronald McKinnon (economist) belongs to astronomy; place it in that map before memorising details.
Learn the definition first, then one example that makes the definition concrete.
Connect Ronald McKinnon (economist) to a quantity you can measure, compute or draw — that is where exam questions come from.
Reproduce the core statement of Ronald McKinnon (economist) from memory before moving on to harder problems.

Reference excerpt

Ronald Ian McKinnon (10 July 1935 – 1 October 2014) was an applied economist. His primary interests were international economics and economic development, with strong secondary interests in transitional economies and fiscal federalism. Understanding financial institutions in general, and monetary institutions in particular, was central to his teaching and research, with interests ranging from the proper regulation of banks and financial markets in poorer countries to the historical evolution of global and regional monetary systems in the context of the world dollar standard. He had been a professor of economics at the Stanford University since 1961. In particular, he researched international trade and finance, economic development, monetary theory and policy; money and banking. McKinnon is best known for developing the theory of "Financial repression" in 1973, working alongside his colleague Edward Shaw.

Publications (incomplete) Ronald McKinnon (May 2014). China’s Currency Conundrum. SIEPR Policy Brief. Ronald McKinnon (Apr 2014). The Unloved World Dollar Standard: Greenspan-Bernanke *Bubbles in the Global Economy. SCID. SCID Working Paper 497. Ronald McKinnon and Gunther Schnabl (Feb 2014). China’s Exchange Rate and Financial Repression: The Conflicted Emergence of the Renminbi as an International Currency. SCID. SCID Working Paper 493. Ronald McKinnon (Oct 2013). Tapering Without Tears. SIEPR Policy Brief.

Books Money and Capital in Economic Development. Brookings, 1973. Money in International Exchange: The Convertible-Currency System. Oxford Univ. Press, 1979. An International Standard for Monetary Stabilization. Institute for International Economics, 1984. The Order of Economic Liberalization: Financial Control in the Transition to a Market Economy. Johns Hopkins University Press, 1991; second edition, 1993, (Romanian, Chinese, and Arabic translations, 1997) The Rules of the Game: International Money and Exchange Rates. MIT Press, 1996. Dollar and Yen: Resolving Economic Conflict Between the United States and Japan (with Kenichi Ohno). MIT University Press, 1997, (Japanese translation, 1998; Chinese, 1999.) Exchange Rates under the East Asian Dollar Standard: Living with Conflicted Virtue. MIT Press 2005. (Chinese Translation, CFPH 2006.) The Unloved Dollar Standard: From Bretton Woods to the Rise of China. Oxford University Press, 2013

References

External links Some of McKinnon's publications

Worked examples

Example 1 — a first encounter with Ronald McKinnon (economist)

Start with the simplest possible case. Write down what Ronald McKinnon (economist) claims or describes in one sentence, then invent the smallest concrete situation in which that sentence is true. In astronomy, the smallest case is usually a single object, a single equation or a single measurement. Check that every symbol or term in your sentence has a meaning in that case.

Example 2 — changing one variable

Take the situation from Example 1 and change exactly one quantity: double it, halve it, or set it to zero. Predict what should happen to Ronald McKinnon (economist) before you calculate. Comparing your prediction with the result is the fastest way to find out whether you understand the idea or only the words.

Example 3 — an exam-style question

Typical questions about Ronald McKinnon (economist) ask you to (a) state it precisely, (b) apply it to given data, and (c) explain a limitation. Practise writing all three answers in under five minutes; the third part is what separates a full-mark answer from an average one.

Applications of Ronald McKinnon (economist)

In research: Ronald McKinnon (economist) appears in astronomy research whenever the underlying quantities have to be modelled precisely. Papers usually cite it as a starting assumption and then explore where it breaks down.
In technology and industry: Engineering practice reuses Ronald McKinnon (economist) in design rules, simulations and safety margins. Knowing the idea lets you read a specification sheet and understand why the numbers look the way they do.
In the classroom: Ronald McKinnon (economist) is common in secondary-school and first-year university syllabi. It links to neighbouring topics 1935 births, 2014 deaths, Academics from Edmonton, so understanding it makes those chapters shorter.
In everyday life: Look for Ronald McKinnon (economist) outside the textbook — in sport, cooking, traffic, electronics or the sky above you. An example you found yourself is remembered far longer than one you were given.

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How to study Ronald McKinnon (economist) in 20 minutes

Read the reference excerpt below once, without taking notes.
Close the page and write down what Ronald McKinnon (economist) means in your own words.
Compare your version with the excerpt and mark what you missed.
Work through the three examples above with pen and paper.
Explain Ronald McKinnon (economist) out loud to somebody else — or to Teacher Smith in the lgStudy chat.

Frequently asked questions

What is Ronald McKinnon (economist) in simple terms?

Why does Ronald McKinnon (economist) matter?

Because it connects several astronomy ideas at once: it gives you a definition you can apply, a quantity you can calculate, and a way to check whether a result is plausible.

How should I study Ronald McKinnon (economist)?

Read the excerpt, restate it from memory, then work through the examples and applications listed on this page. The five-step study plan above takes about twenty minutes.

What does this page cover?

It gives you a compact reference excerpt plus original lgStudy explanations, examples, applications and study material on Ronald McKinnon (economist).