Saturday, April 23, 2005

Books: The Modern Firm by John Roberts

I'm thinking of using this text for senior level Managerial Economics. The Economist says "Nobody, it can now be said, is fully fit to run a modern firm until they have read “The Modern Firm.""

The book's Amazon readability text stats are a bit daunting though,

Fog Index: 18.4
Flesch Index: 30.4
Flesch-Kincaid Index: 15.1

About these indices, Amazon says:
The Fog Index was developed by Robert Gunning. It indicates the number of years of formal education required to read and understand a passage of text. A score between 7 and 8 is considered ideal, while a score above 12 is considered difficult to read.
The Flesch Index, developed in 1940 by Dr. Rudolph Flesch, is another indicator of reading ease. The score returned is based on a 100 point scale, with 100 being easiest to read. Scores between 90 and 100 are appropriate for 5th and 6th graders, while a college degree is considered necessary to understand text with a score between 0 and 30.
The Flesch-Kincaid Index is a refinement to the Flesch Index that tries to relate the score to a U.S. grade level. For example, text with a Flesch-Kincaid score of 10.1 would be considered suitable for someone with a 10th grade or higher reading level.
If it's not obvious, this is my first encounter with these Amazon features. Also interesting is the way Amazon presents the concordance of the book's 100 most used words.

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