A model of business cycles where fluctuations arise from internal factors, specifically random shocks to economic agents' beliefs.
A detailed examination of the Engel Curve and its implications in economic theory
A curve showing the relation between income level and consumption of some good, at a given price.
An in-depth look at the term 'enterprise' and its significance in economics.
A climate of social opinion favorable to enterprise
Detailed analysis and understanding of the term 'Entitlement Program' in economics.
A comprehensive dictionary entry on the economic concept of entitlements.
A place where goods are imported and re-exported without processing.
A person with overall responsibility for decision-taking in a business, who receives any profits, and bears any losses.
Access to a market by a new supplier.
The outer envelope of a set of curves in economics, often used in the context of long-run and short-run cost functions.
A definition and analysis of the Envelope Theorem in economics and its implications in optimization problems.
An analysis of equilibrium concepts, their significance, and applications in various economic theories.
Equilibrium price refers to the price at which the quantity of a good supplied is equal to the quantity demanded.
The quantity of a good supplied and demanded when the market price has reached a level where supply equals demand.
Definition and meaning of equity capital in finance: Company finance raised in exchange for a share of ownership.
The amount of additional income required to reach the utility level achievable if the economic environment changes.
A model used for estimating the short-run dynamic relationship among cointegrated variables and their adjustments towards long-term equilibrium.
An overview of the Euro, its adoption, historical context, and significance within the European Monetary Union.
A comprehensive definition and analysis of eurocurrency, its historical context, major analytical frameworks, and case studies.
A slightly derogatory term for the geographical area consisting of the countries that have adopted the euro. The more formal term is eurozone.
An international bank established to aid the transition of Central and Eastern Europe and former Soviet states to market economies.
A European body established in 1952 to create a common market for coal and steel among its member states.
An association of European countries established in 1959 to promote free trade among its member states.
Definition and meaning of the European Single Market
Countries that have abolished their national currencies and adopted the euro.
A theory outlining the adaptive behavior and survival of firms through an evolutionary process, focusing on innovation and natural selection.
An overview of the term 'ex ante,' its definitions, and implications in economic analysis.
Definition and explanation of excess burden in economics, synonymous with deadweight loss.
A detailed exploration into the concept of excess demand, its implications for economic equilibrium, and notable theoretical contributions.
An examination of the term 'excess profit,' which refers to profits above the level necessary to retain an entrepreneur in their current business.
Understanding the concept of exchange in economics and its implications.
A system regulating the conversion of national currency into foreign currencies subject to official permission or approval.
A UK government account at the Bank of England for managing gold and foreign exchange reserves and IMF special drawing rights.
An exploration of the term 'exchange rate overshooting,' its meaning, historical context, and analytical frameworks in economic theory.
Understanding Exchange Restrictions and Their Economic Impact
A comprehensive overview of excise duty, including its definition, historical context, and analytical frameworks.
Understanding the term 'exit' in economics, particularly in the context of firm dynamics within an industry.
Exploration of the concept of exit price in economics, referring to the price below which firms are likely to leave an industry.
Expectations that are formed outside the economic system and are not based on its parameters.
A variable not related to other economic variables in the system under consideration by causal links but determined by factors outside the system.
An exploration of the role of expectations in economics, including various types and their impact on economic decision-making
The anticipated rate of inflation projected by individuals or institutions for different future time periods.
A measure used in economics to denote the anticipated value of an uncertain situation in relation to wealth.
A measure used in economics to denote the anticipated value of an uncertain situation in relation to wealth.
Expected value is the probability-weighted average outcome of a random variable.
Spending by consumers, investors, or the government on real goods, services, and various transfers.
A comprehensive survey of household expenditure and food consumption in the UK, operational from 2001 to 2008.
Explanation of the expenditure function in economics, its applications, and related concepts.
The minimum cost for a consumer of achieving a given utility level.
Method of calculating domestic product using expenditure data from various economic sectors.
An economics term describing a price index reflecting expenditure shares of different goods and services, including import prices and excluding export prices.
A comprehensive overview of the exponential distribution, its properties, and applications in economics
An overview of the concept of export concentration, its definition, implications, and analytical frameworks.
An institution that provides credit or guarantees to support export transactions, often involving state subsidies.
An entry discussing the various devices used to encourage exports in different countries.
An exploration of export subsidies in economics, including their definition, historical context, and implications on international trade.
An agency of the US federal government set up to promote US trade by providing finance, guarantees, or insurance for private loans.
Goods and services of types which could be exported, whether they are in fact exported or not.
Goods and services produced in a country and sold to non-residents. Comprises visible and invisible exports, as well as capital exports.
The margin affected by a discrete change in the level at which an activity is undertaken.
A sustainable pattern of transactions with the rest of the world.
An analysis of external diseconomies of scale, mechanisms involved, and their impact across various economic theories.
An exploration of external economies of scale, where industry growth reduces production costs across all firms.
A comprehensive overview of the economic concept of externality, including its types and implications.
An analysis of the term 'factor cost,' its definition, significance, and associated economic frameworks.
A solid conceptual analysis of factor endowment in economic theory, discussing its implications for economic prosperity.
The relative proportions of various factors of production used in producing goods and services.
The degree of ease with which productive factors can reallocate across sectors within an economy or across countries.
A definition and analysis of the Factor Price Frontier in Economics.
An examination of factor prices in economics, which include wages, rent, and interest rates, corresponding to the services provided by labor, land, and capital respectively.
An in-depth look at the concept of factor-augmenting technical progress in economics, exploring its definition, historical context, and various analytical frameworks.
A comprehensive look into the resources used in the production of goods and services, encompassing labor, capital, and land.
A comprehensive look into the definition and significance of fair gambles in economics.
The odds which would leave anybody betting on a random event with zero expected gain or loss.
Adequate level of profit judged by regulators for utilities to ensure acceptable service, dividends, interest payments, and investment.
Exploring the concept and implications of fair trade economics, its historical context, associated frameworks, and its comparative impact.
An overview of the family allowance, a UK welfare benefit offered between 1946 to 1977, which was renamed to child benefit.
A visual representation where the past shows actual values and the future presents a range of forecast values, illustrating the uncertainty in economic forecasts.
An overview of the Federal Reserve System, the central banking system of the United States.
Fiat money: A form of currency that holds value primarily because a government decrees it to be legal tender, without intrinsic or commodity value.
Definition and meaning of fiduciary issue in economics.
An experiment conducted in a ‘real world’ setting rather than a laboratory, where subjects make decisions in their natural environment.
Goods for use by final users, including consumers, investors, the government, and exporters, as distinct from intermediate products.
Money and claims separate from physical assets, encompassing money, securities, shares, derivatives, and more.
The collapse, or potential collapse, of a financial institution threatening the stability of the financial system.
The field of economics that analyses the individual allocation of resources between consumption and financial assets, and the equilibrium consequences of individual choices.
The imposition of liquidity constraints through allocation of loans by administrative means rather than use of the market.
The part of the economy concerned with lending and borrowing, including banks, non-bank financial intermediaries, and financial service providers.
Definition and detailed exploration of the term financial security in the context of Economics
Financial Soundness Indicators: Statistical measures for assessing financial system stability
The Financial Times Industrial Ordinary Share Index (FT 30) is an index tracking the share prices of 30 leading UK industrial and commercial companies listed on the London Stock Exchange, excluding banking and insurance shares as well as government stocks. It originated with a base of 100 in 1935.
An insight into the financial year, its definitions, contexts, and implications in economics.
A distribution of a statistic across all possible samples of the same size drawn from the same population according to the same sampling procedure.
The basic unit of organization for productive activities, guiding the transformation of inputs into outputs.
The increments between two consecutive periods in a time series.
An overview of first-degree price discrimination, its definitions, concepts, and effects in economic contexts.
