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Full Description
From small law offices to federal agencies, all entities within the justice system are governed by complicated economic factors and face daily financial decision-making. A complement to Strategic Finance for Criminal Justice Organizations, this volume considers the justice system from a variety of economic and financial perspectives and introduces quantitative methods designed to improve the efficiency and effectiveness of organizations in both the non-profit and for-profit sectors.
Using only a minimum of theory, Economic and Financial Analysis for Criminal Justice Organizations demonstrates how to make decisions in the justice system using multiple financial and economic models. Designed for readers with little knowledge of advanced mathematics, quantitative analysis, or spreadsheets, the book presents examples using straightforward, step-by-step processes with Excel and Linux Calc spreadsheet software.
A variety of different types of decisions are considered, ranging from municipal bond issuance and valuation necessary for public revenues, pension planning, capital investment, determining the best use of monies toward construction projects, and other resource planning, allocation, and forecasting issues.
From municipalities and police departments to for-profit prisons and security firms, the quantitative methods presented are designed to improve the efficiency and effectiveness of all organizations in the justice domain.
Contents
Show Me Your License: Introductory Concepts. Innocent or Guilty? Perspectives of Decisions. A 25-to-Life Sentence: Strategic Economic and Financial Decisions. The Restitution Order: Capitalization and Executive Responsibility. How Do We Slice the Pie? Foundations of Economics. Tools of the Trade: Foundations of Financial Decisions. Following the Money: Capital Budgeting. Pay Me Now or Pay Me Later? The Minimum Attractive Rate of Return. Lucky Number 7: Concepts of Probability and Mathematical Reasoning. The Odds Are Against Us: Probability Distributions and Mathematical Reasoning. Is This the Line? Queuing Theory. Risky Business: Sensitivity and Scenario Analyses. Not 007, But ... Bond Analysis. Buy Low or Sell High? Stock Analysis. How Do We Measure Up? Ratio Analysis. Buyer Beware: Leasing versus Purchasing. Is It Worth Your Time? Cost-Benefit and Break-Even Analyses. The Crystal Ball: Predictive Analysis. How Do We Relate? With Correlation! Show Me the Money: Benefits Analysis. The Shift Briefing: Multiple Perspectives. Appendix A: Additional Techniques of Analysis—Modified Internal Rate of Return.Appendix B: Tickets versus Warnings—Options Analysis.Appendix C: Modified Accelerated Cost Recovery System (MACRS) Tables. Appendix D: Analytical Tree Constructs. Appendix E: Bayes Theorem. Appendix F: Hypothesis Testing. Index.
