Economic Theory

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Efficient market theory in Economics

Efficient market theory in Economics

April 29, 2017

The efficient markets hypothesis has historically been one of the main cornerstones of academic finance research. Proposed by the University…

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What is Economic growth theory?

What is Economic growth theory?

April 25, 2017

How do we measure and explain economic growth? This lesson will go through the various theories of economic growth which all try to…

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Neoclassical Economic theory definition

Neoclassical Economic theory definition

April 17, 2017

An approach to economics that relates supply and demand to an individual s rationality and his or her ability to maximize utility or…

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Agency theory Economics

Agency theory Economics

April 9, 2017

The principal-agent problem develops when a principal creates an environment in which an agent s incentives don t align with its own…

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What are the Economic theory?

What are the Economic theory?

March 28, 2017

Classical vs. Keynesian Economics Under classical economic theory, an economy will always move towards equilibrium at full capacity…

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Different Economic theories

Different Economic theories

March 24, 2017

The three most important economists were Adam Smith, Karl Marx, and John Maynard Keynes (pronounced canes). Each was a highly original…

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Positive Economic theory

Positive Economic theory

March 20, 2017

Source: Essays in Positive Economics (1953) publ. University of Chicago Press. Just part of one essay is reproduced here. V. Some Implications…

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Uncertainty, Evolution, and Economic theory

Uncertainty, Evolution, and Economic theory

March 12, 2017

Is an article written in 1950 by economist Armen Alchian (1914-2013). In this article Alchian delineates an evolutionary approach to…

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Downs Economic theory of Democracy

Downs Economic theory of Democracy

March 4, 2017

This book seeks to elucidate its subject - the governing of democratic state - by making intelligible the party politics of democracies…

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Schools of Economic theory

Schools of Economic theory

February 24, 2017

In an age where tuition is on the rise, high school students are skipping college to start their own companies, and technology offers…

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Economic theory in Retrospect

Economic theory in Retrospect

February 20, 2017

This is a history of economic thought from Adam Smith to John Maynard Keynes-but it is a history with a difference. Firstly, it is…

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Examples of Economic theories

Examples of Economic theories

February 16, 2017

Economic theorists have worked hard to lower expectations for their field. The standard line (originally due, I think, to Keynes?)…

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Friedrich von Hayek Economic theory

Friedrich von Hayek Economic theory

February 12, 2017

Friedrich A. Hayek, who died on March 23, 1992, at the age of 92, was probably the most prodigious classical liberal scholar of the…

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Alfred Marshall Economic theories

Alfred Marshall Economic theories

January 31, 2017

Alfred Marshall was an English economist (1842-1924), and the true founder of the, which combined the study of wealth distribution…

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What is the Keynesian Economics theory?

What is the Keynesian Economics theory?

January 19, 2017

John Maynard Keynes’s 1936 book The General Theory of Employment, Interest, and Money attempted to overthrow classical theory and revolutionize…

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