Economic Theory

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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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Revealed preference theory in Economics

Revealed preference theory in Economics

January 15, 2017

Let there be two bundles of goods, a and b, available in a budget set . If it is observed that a is chosen over b, we say that a is…

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Theories of profit in Managerial Economics

Theories of profit in Managerial Economics

January 11, 2017

| Lasse Lien | The word equilibrium should perhaps be used sparingly here in this Austrian stronghold. Nevertheless, I shall dare to…

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Human capital theory Economics

Human capital theory Economics

January 7, 2017

Human-capital theory This is a moden extension of Adam Smith s explanation of wage differentials by the so-called net (dis)advantages…

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Chaos theory in Economics

Chaos theory in Economics

December 26, 2016

There s a field of economics I ve worked with called complexity economics that deals with this type of nonlinear behavior. My understanding…

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Explain Economic theory

Explain Economic theory

December 22, 2016

Finance & Development, How economists try to simulate reality THE MODERN ECONOMY is a complex machine. Its job is to allocate…

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Milton Friedman Economics theory

Milton Friedman Economics theory

December 6, 2016

Milton Friedman was the twentieth century’s most prominent advocate of free markets. Born in 1912 to Jewish immigrants in New York…

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What is the Classical Economic theory?

What is the Classical Economic theory?

November 4, 2016

The Classical school, which is regarded as the first school of economic thought, is associated with the 18th Century Scottish economist…

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Classical Economics theory

Classical Economics theory

October 23, 2016

Economics is the quantitative and qualitative study on the allocation, distribution and production of economic resources. Economics…

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