1 The Epistemic Values of Mainstream Economics Nuno Martins
... ontological conceptions of reality, namely a closed system conception of reality, and an open system conception of reality. Closed systems are characterised by constant conjunctions of the form “if event x, then event y”. Systems where constant conjunctions of the form “if event x, then event y” do ...
... ontological conceptions of reality, namely a closed system conception of reality, and an open system conception of reality. Closed systems are characterised by constant conjunctions of the form “if event x, then event y”. Systems where constant conjunctions of the form “if event x, then event y” do ...
Microfoundations - EUR RePub - Erasmus Universiteit Rotterdam
... unemployment simply means that at the current (real) wage rate people do not want to supply more labor to the market. If there is registered unemployment it is thus either of a ‘voluntary’ nature, or a short-run phenomenon that quickly disappears. In this vein, Lucas (1978, p. 354) argued that invol ...
... unemployment simply means that at the current (real) wage rate people do not want to supply more labor to the market. If there is registered unemployment it is thus either of a ‘voluntary’ nature, or a short-run phenomenon that quickly disappears. In this vein, Lucas (1978, p. 354) argued that invol ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... this is in fact the explanation that has been advanced by a number of economists, myself included, as the best available answer. Yet even among those economists who believe that skill-biased technological change is the best explanation we have for the growing wage gapcertainly a better explanation t ...
... this is in fact the explanation that has been advanced by a number of economists, myself included, as the best available answer. Yet even among those economists who believe that skill-biased technological change is the best explanation we have for the growing wage gapcertainly a better explanation t ...
Macroeconomic revolution on shaky grounds
... behavior and historical time. "I should like to suggest that expectations, since they are informed predictions of future events, are essentially the same as the predictions of the relevant economic theory" (Muth 1961: 316).12 In Lucas and Sargent’s view, the relevant economic theory was a stationary ...
... behavior and historical time. "I should like to suggest that expectations, since they are informed predictions of future events, are essentially the same as the predictions of the relevant economic theory" (Muth 1961: 316).12 In Lucas and Sargent’s view, the relevant economic theory was a stationary ...
Chapter 4 The Social Market Economy
... transactions as analogous to voting. Every time you buy something, you are, in essence, “voting” for it to be produced. In the political process, each person has one vote. But in a market, some people have many more votes than others. Obviously, the goods and services they desire are the ones that a ...
... transactions as analogous to voting. Every time you buy something, you are, in essence, “voting” for it to be produced. In the political process, each person has one vote. But in a market, some people have many more votes than others. Obviously, the goods and services they desire are the ones that a ...
bachelor of arts in economics
... Economics is about economizing; that is, about choice among alternative uses of scarce resources. Choices are made by millions of individuals, businesses, and government units. Economics examines how these choices add up to an economic system, and how this system operates. (L.G. Reynolds). Pangasi ...
... Economics is about economizing; that is, about choice among alternative uses of scarce resources. Choices are made by millions of individuals, businesses, and government units. Economics examines how these choices add up to an economic system, and how this system operates. (L.G. Reynolds). Pangasi ...
forEquitable Growth
... behavior and historical time. "I should like to suggest that expectations, since they are informed predictions of future events, are essentially the same as the predictions of the relevant economic theory" (Muth 1961: 316).12 In Lucas and Sargent’s view, the relevant economic theory was a stationary ...
... behavior and historical time. "I should like to suggest that expectations, since they are informed predictions of future events, are essentially the same as the predictions of the relevant economic theory" (Muth 1961: 316).12 In Lucas and Sargent’s view, the relevant economic theory was a stationary ...
Document
... A free rider is someone who would not choose to pay for a certain good or service, but who would get the benefits of it anyway if it is provided as a public good. Go To Section: ...
... A free rider is someone who would not choose to pay for a certain good or service, but who would get the benefits of it anyway if it is provided as a public good. Go To Section: ...
ECON 3080-001 Intermediate Macroeconomic Theory
... VI. Acceptance ofKeynesianism 1. By 1964 most economists were Keynesians 2. The first Keynesian guided U.S. president was J.F. Kennedy. 3. Richard Nixon said, "we're all Keynesians now." VII. Break down of Keynesian Monopoly on Economic Ideas 1. Starting in the 1950's Milton Friedman challenges the ...
... VI. Acceptance ofKeynesianism 1. By 1964 most economists were Keynesians 2. The first Keynesian guided U.S. president was J.F. Kennedy. 3. Richard Nixon said, "we're all Keynesians now." VII. Break down of Keynesian Monopoly on Economic Ideas 1. Starting in the 1950's Milton Friedman challenges the ...
Workshop on National Accounts 6
... by households NLSS* Goods produced for own final consumption by households NLSS Services of owner-occupied dwellings NLSS Goods and services acquired by households in barter transactions for final consumption NLSS Goods and services received by households as payment in kind from producers NLSS Expen ...
... by households NLSS* Goods produced for own final consumption by households NLSS Services of owner-occupied dwellings NLSS Goods and services acquired by households in barter transactions for final consumption NLSS Goods and services received by households as payment in kind from producers NLSS Expen ...
PDF
... markets is not supported by empirical observations. Second, the relevant government policy in this case would be to eliminate the middleman rather than engage in the kinds of price support and pri ce stabilization policies that have been so prevalent. ...
... markets is not supported by empirical observations. Second, the relevant government policy in this case would be to eliminate the middleman rather than engage in the kinds of price support and pri ce stabilization policies that have been so prevalent. ...
Look inside PDF - Oxford University Press
... Oxford is a registered trade mark of Oxford University Press in the UK and in certain other countries. Adapted from a work originally published by Oxford University Press Inc. This international version has been customized for South and South-East Asia and is published by arrangement with Oxford Uni ...
... Oxford is a registered trade mark of Oxford University Press in the UK and in certain other countries. Adapted from a work originally published by Oxford University Press Inc. This international version has been customized for South and South-East Asia and is published by arrangement with Oxford Uni ...
General Business
... • 4BI1 Communicate effectively the intended message. • 4BI4 Use language that is clear, audible, and appropriate. • 4BI6 Demonstrate effective use of visual aids and available technology. Social Science • 14BI3 Categorize the similarities and differences among world political systems (e.g., democrac ...
... • 4BI1 Communicate effectively the intended message. • 4BI4 Use language that is clear, audible, and appropriate. • 4BI6 Demonstrate effective use of visual aids and available technology. Social Science • 14BI3 Categorize the similarities and differences among world political systems (e.g., democrac ...
PDF
... We find two sets of analytical results on the existence of double dividend involving trade distortions. In the case of separable utility (all Hicksian demands independent of pollution), the existence of a double dividend does not require any assumptions beyond convexity and integrability of consump ...
... We find two sets of analytical results on the existence of double dividend involving trade distortions. In the case of separable utility (all Hicksian demands independent of pollution), the existence of a double dividend does not require any assumptions beyond convexity and integrability of consump ...
Course Description - EBA, The Bachelor of Arts Program in Economics
... strategies; vertical and horizontal integration, sources of monopoly power, optimal pricing behavior, and strategic interaction between firms; control of market structure and organizational behavior. ...
... strategies; vertical and horizontal integration, sources of monopoly power, optimal pricing behavior, and strategic interaction between firms; control of market structure and organizational behavior. ...
ECON 3080-003 Intermediate Macroeconomic Theory
... VI. Acceptance of Keynesianism 1. By 1964 most economists were Keynesians 2. The first Keynesian guided U.S. president was J.F. Kennedy. 3. Richard Nixon said, ''we're all Keynesians now." VII. Break down of Keynesian Monopoly on Economic Ideas 1. Starting in the 1950's Milton Friedman challenges th ...
... VI. Acceptance of Keynesianism 1. By 1964 most economists were Keynesians 2. The first Keynesian guided U.S. president was J.F. Kennedy. 3. Richard Nixon said, ''we're all Keynesians now." VII. Break down of Keynesian Monopoly on Economic Ideas 1. Starting in the 1950's Milton Friedman challenges th ...
Comparative Macroeconomic Frameworks
... the part of construction, the business prices and the community will send the wage economy rate are even sticky further downward. from its fullemployment potential. But note that they’re not stuck too high. W They’re stuck just right. The going wage rate S will clear the labor market once again—as D ...
... the part of construction, the business prices and the community will send the wage economy rate are even sticky further downward. from its fullemployment potential. But note that they’re not stuck too high. W They’re stuck just right. The going wage rate S will clear the labor market once again—as D ...
Exploring the World of Business Economics
... In 1960, IBM began tailoring computer and software packages to the needs of individual business customers, a move that launched the company into the lucrative market for technology services. During the 1980s, IBM revolutionized business computing when it introduced the desktop personal computer. As ...
... In 1960, IBM began tailoring computer and software packages to the needs of individual business customers, a move that launched the company into the lucrative market for technology services. During the 1980s, IBM revolutionized business computing when it introduced the desktop personal computer. As ...
NBER WORKING PAPER SERIES THE THEORY AND MEASUREMENT OF MACROECONOMIC DISEQUILIBRIUM IN
... fresh, coherent framework for the analysis 0 1' many CPE phenomena, opened up a range of possibilit ies for empir ical investigation, and generated severa 1 important spinoffs: wo rk on planners' behaviour, insights into CPE P0 licy problems of the 1970s and early 1980s, which centred on macroeconom ...
... fresh, coherent framework for the analysis 0 1' many CPE phenomena, opened up a range of possibilit ies for empir ical investigation, and generated severa 1 important spinoffs: wo rk on planners' behaviour, insights into CPE P0 licy problems of the 1970s and early 1980s, which centred on macroeconom ...
MicroMod5
... • By the end of this module, SWBAT – Explain the difference between accounting and economic profits and explicit vs. implicit costs – Describe the relationship between the production function and total cost curve – Draw and describe the “big three” average cost curves and then show how marginal cost ...
... • By the end of this module, SWBAT – Explain the difference between accounting and economic profits and explicit vs. implicit costs – Describe the relationship between the production function and total cost curve – Draw and describe the “big three” average cost curves and then show how marginal cost ...
The Toolkit of Economic Sociology
... especially in its political and religious institutions; but with the advent of capitalism the economy was separated out and has come to dominate the rest of society. The second half of Polanyi’s argument is less known, but follows logically from its first half: for society to become healthy again, t ...
... especially in its political and religious institutions; but with the advent of capitalism the economy was separated out and has come to dominate the rest of society. The second half of Polanyi’s argument is less known, but follows logically from its first half: for society to become healthy again, t ...
Price level
... output for. The price is paid by the ultimate user Cost: what the producer pays for raw materials, labor and other expenses necessary to produce. ...
... output for. The price is paid by the ultimate user Cost: what the producer pays for raw materials, labor and other expenses necessary to produce. ...
Print this article - Cognitive Philology
... One obvious answer to the tolerance that has been shown for both unemployment and the vulnerable financial structure is that at no time in the period of deteriorated performance has there been a substantial decline in overall gross profits. There has been a tradition in Economics of analyzing and fo ...
... One obvious answer to the tolerance that has been shown for both unemployment and the vulnerable financial structure is that at no time in the period of deteriorated performance has there been a substantial decline in overall gross profits. There has been a tradition in Economics of analyzing and fo ...
Inflation, Deflation and Stagflation
... the phenomenon of stagflation is illustrated in the following diagram: AS ...
... the phenomenon of stagflation is illustrated in the following diagram: AS ...