Understanding the concept of profit motive in economic theory, its historical context, and various analytical perspectives.
An exploration into the concept of endogenous preferences in economics, encompassing historical context, definitions, analytical frameworks, and case studies.
The study of New Keynesian economics, its foundational concepts, analytical frameworks, and case studies.
Exploration of compensating variation, including definitions, historical context, and major theoretical frameworks.
A model of representative government where any citizen can be a candidate for political office, illustrating how economic policies emerge from a political process.
The assertion that over time the size of the public sector will increase as a proportion of the economy, due to its relative labour intensity and inability to substitute capital for labor.
Analysis of duality in economic optimization problems, particularly in consumer theory.
An exploration of the concept of consumer choice, detailing its significance in economics and its relationship to consumer behavior.
An exploration of the economic term 'a priori', which refers to claims considered true based on earlier reasoning rather than empirical evidence.
Exploration of the term 'Adjustment' in economics, its definitions, applications, and contrasting perspectives.
The total amount of real goods and services that enterprises in an economy are willing to provide at any given ratio of prices to wages.
The current price of a unit of consumption in a future state of the world in an Arrow-Debreu economy
A situation where some participants in an economic transaction have access to more, or better, relevant information than other participants.
A logical starting point used in economic deduction without needing proof or demonstration.
A comprehensive guide to understanding behavioral economics and its implications in the field of economics.
A field of economics that studies the effects of psychological, cognitive, emotional, cultural, and social factors on the economic decisions of individuals and institutions.
An overview of Bertrand competition, focusing on its definition, historical context, and analytical frameworks.
An examination of the concept of bounded rationality and its significance in economic theory.
The economic analysis framework of the 18th and 19th centuries, associated with key economists including Thomas Malthus, John Stuart Mill, David Ricardo, and Adam Smith.
The process of aggregating individual preferences into social preferences to make a collective choice from alternatives.
A comprehensive analysis of computable general equilibrium models and their application in economic theory.
An exploration of the way consumers choose how to use their incomes.
Exploration of consumer credit, its mechanisms, history, and significance in economic theory.
Overview of the concept of consumer rationality in economics
The proposition that consumers are the best judges of their own interest, determining consumption patterns in the market.
A form of oligopolistic competition where firms simultaneously decide their quantity of output, influencing the market price.
The analysis of rational decision-making involving choices with known and uncertain outcomes, and the optimization of utility functions.
A detailed exploration of the concept of disguised unemployment, its origin, and its relevance in various economic frameworks.
A simplified system used to simulate some aspects of the real economy, essential for understanding economic phenomena and policy implications.
The branch of economics focused on the construction of models and mathematical methods for their analysis.
A model of business cycles where fluctuations arise from internal factors, specifically random shocks to economic agents' beliefs.
An analysis of equilibrium concepts, their significance, and applications in various economic theories.
Expectations that are formed outside the economic system and are not based on its parameters.
An economic policy approach focused on gradually stabilizing inflation by moderating the growth rate of the money supply.
Understanding Hotelling's Law, the Law of Minimal Differentiation, and its applications in economics.
An in-depth economic analysis of household decision-making models, focusing on consumption, labor supply, and the cooperative versus non-cooperative dynamics within households.
Investment in response to changes in output, typically examined at a macroeconomic level.
An overview of the concept, significance, and challenges of inflation accounting in economic theory and practice.
The initial state or parameters from which a dynamic economic system begins its analysis; essential in determining subsequent path and equilibrium.
Methods for incorporating external costs or benefits into decision-making processes.
The IS curve depicts combinations of interest rates and national income where ex ante savings and investment are equal, reflecting product market equilibrium in Keynesian economics.
Analysis of the Juglar cycle, a concept related to business cycles in economics.
An in-depth exploration of the Kondratieff Cycle, a theoretical long-term economic cycle suggested by Nikolai Kondratieff.
A comprehensive examination of the Labour Theory of Value, its historical origins, major frameworks, and its significance in various branches of economics.
A policy advocating minimal government intervention in the economy, where market forces are allowed to operate freely.
Understanding the Learning Curve: its definition, historical context, and major analytical frameworks.
A method for determining the optimal provision and cost allocation of public goods among consumers, aiming to achieve Pareto efficiency. This equilibrium assesses individual demand given the shared cost across the population.
The argument that government policies should consider how decision rules of private agents change with policy changes.
The effect of a small increase in A upon the value of B in economics.
A comprehensive analysis of the economic term 'marginal revenue', its definitions, and applications.
A derogatory term for the practice of altering statistical data to fit certain narratives or remove discrepancies.
The construction of a game of strategic interaction that achieves a specific outcome in economics.
An exploration of the concept, causes, and economic implications of the menu costs of inflation.
An economic theory popular in the 16th to 18th centuries that viewed a nation’s supply of capital as the determinant of welfare.
An exploration of normative economics, its definitions, and major analytical frameworks.
Loss of value of an asset and related concepts in economics.
Explanation of path dependence in economic processes and its implications.
An overview of pension funds, their function, governance, and influence in various economic frameworks
An in-depth exploration of the Phillips Curve, illustrating the inverse relationship between inflation and unemployment, differences in short-run and long-run analyses, and the role of expectations.
The concept of the Pigou effect and its implications in economic theory.
A branch of economics that describes and explains economic processes and predicts the outcomes of institutional or policy changes, without making value judgements.
An exploration of the concept of pre-commitment in economics and its various theoretical and practical implications.
A formal description and analysis of prescriptive statements, their implications in economics, and comparison with other economic statements.
An overview of the Ramsey Regression Equation Specification Error Test, a method for identifying linear regression model misspecifications by testing non-linear combinations of explanatory variables.
A generalization of expected utility theory, explaining choices observed in the Allais paradox and other anomalies.
A theory of the business cycle attributing fluctuations to random technology shocks and emphasizing efficient responses to these shocks.
A form of uncertainty where, while the actual outcome of an action is not known, probabilities can be assigned to each of the possible outcomes.
An economic theory proposing that supply creates its own demand.
Understanding sticky prices, their causes, and implications in various economic frameworks.
Empirical observations used as a starting point for the construction of economic theories.
An economic theory predicting that economic activity can be coordinated with external non-economic events.
A solution to an optimization problem occurring at a point of tangency between two curves, often used in consumer theory.
The over-utilization of a common access resource due to individual users maximizing personal profit without accounting for the social impact of their actions.
Understanding the trickle-down theory and its impact on economic stratification
A comprehensive exploration of the economic concept of uncertainty.
An examination of Walras's Law, which asserts that the value of excess demand in an economy is always zero.
A comprehensive understanding of the term 'Willingness to Pay' in economics, including its definition, historical context, and various analytical frameworks.
A comprehensive examination of the utility function, its definition, and its application in economics.
