Economics - Northeastern University
... economics. Covers concepts such as marginal analysis, game theory, and sources of growth through the play and analysis of board and computer games. Explores topics in economic history in this context as well. Note: This course does not count toward economics major or minor elective requirements. Cor ...
... economics. Covers concepts such as marginal analysis, game theory, and sources of growth through the play and analysis of board and computer games. Explores topics in economic history in this context as well. Note: This course does not count toward economics major or minor elective requirements. Cor ...
Making sense of institutions as a factor shaping
... Most of the articles of this genre cite Coase (1960) article on “The Problem of Social Cost” as providing the intellectual starting place for their work. And like Coase, the writings here mostly focus explicitly or implicitly on transactions among different economic parties, and transaction costs. C ...
... Most of the articles of this genre cite Coase (1960) article on “The Problem of Social Cost” as providing the intellectual starting place for their work. And like Coase, the writings here mostly focus explicitly or implicitly on transactions among different economic parties, and transaction costs. C ...
Reconciling the invisible hand and innovation
... keenly interested in technological innovation because he wanted to understand the sources of the wealth of nations. However, Smith undertook the colossal task of founding the economic science by focusing on existing products, and thereby, left the issue of introducing new products into the market u ...
... keenly interested in technological innovation because he wanted to understand the sources of the wealth of nations. However, Smith undertook the colossal task of founding the economic science by focusing on existing products, and thereby, left the issue of introducing new products into the market u ...
A Modern Reader in Institutional and Evolutionary Economics : Key
... proceeding apace, it had not reached the levels that we find now. In the 1970s, even prestigious journals such as the American Economic Review and the xiii ...
... proceeding apace, it had not reached the levels that we find now. In the 1970s, even prestigious journals such as the American Economic Review and the xiii ...
this PDF file - Social Science Spectrum
... contributors came from the first generation of institutional economists (roughly 1890-1940), represented by people such as Richard Ely, John R. Commons and Sumner Slichter. They were then succeeded by a second generation of institutionalists (or "neo-institutionalists") who dominated labour economic ...
... contributors came from the first generation of institutional economists (roughly 1890-1940), represented by people such as Richard Ely, John R. Commons and Sumner Slichter. They were then succeeded by a second generation of institutionalists (or "neo-institutionalists") who dominated labour economic ...
Income Distribution and Economic Growth: Empirical Evidence from
... that from the beginning of modern economics as a field of study, economic growth has often been the central area of inquiry, but on and off. During the early decades, Hahn and Matthews (1964) presented the most comprehensive survey on the contributions that had been made to the theory of economic gr ...
... that from the beginning of modern economics as a field of study, economic growth has often been the central area of inquiry, but on and off. During the early decades, Hahn and Matthews (1964) presented the most comprehensive survey on the contributions that had been made to the theory of economic gr ...
Perceptions of Fairness and Allocation Systems
... al. 1995). This would indicate that situational factors have a very important role in determining a needs based allocation, leading to a welfare based outcome, where as equity is more in line with traditional economic rational and equality as more socially derived. The equity theory is one of the fi ...
... al. 1995). This would indicate that situational factors have a very important role in determining a needs based allocation, leading to a welfare based outcome, where as equity is more in line with traditional economic rational and equality as more socially derived. The equity theory is one of the fi ...
The economics of degrowth Ecological Economics
... public borrowing crises were not ‘mistakes’, but deliberate policy choices intended to maintain growth (Jackson, 2009). In the name of economic efficiency, States gave away important national decisions (e.g. money supply) to markets and independent bodies (e.g. Central Banks), removing them from the ...
... public borrowing crises were not ‘mistakes’, but deliberate policy choices intended to maintain growth (Jackson, 2009). In the name of economic efficiency, States gave away important national decisions (e.g. money supply) to markets and independent bodies (e.g. Central Banks), removing them from the ...
The economics of degrowth
... public borrowing crises were not ‘mistakes’, but deliberate policy choices intended to maintain growth (Jackson, 2009). In the name of economic efficiency, States gave away important national decisions (e.g. money supply) to markets and independent bodies (e.g. Central Banks), removing them from the ...
... public borrowing crises were not ‘mistakes’, but deliberate policy choices intended to maintain growth (Jackson, 2009). In the name of economic efficiency, States gave away important national decisions (e.g. money supply) to markets and independent bodies (e.g. Central Banks), removing them from the ...
Economics Rules
... relevant and applicable under all conditions. Economists must overcome this temptation. They have to select their models carefully as circumstances change, or as they turn their gaze from one setting to another. They need to learn how to shift among different models more fluidly. This book both cele ...
... relevant and applicable under all conditions. Economists must overcome this temptation. They have to select their models carefully as circumstances change, or as they turn their gaze from one setting to another. They need to learn how to shift among different models more fluidly. This book both cele ...
What is Post Keynesianism and Who Is A Post Keynedsian?
... rather than Davidson. (Of course King means associating Keynes’s uncertainty with the rejection of the classical ergodic axiom -- but that is a minor quibble.) King also admits that he was not correct when he suggested that the New Keynesian’s efficiency wage theories “should be acceptable to Post ...
... rather than Davidson. (Of course King means associating Keynes’s uncertainty with the rejection of the classical ergodic axiom -- but that is a minor quibble.) King also admits that he was not correct when he suggested that the New Keynesian’s efficiency wage theories “should be acceptable to Post ...
jeremy bentham and gary becker: utilitarianism and economic
... Lionel Robbins’s (1932) definition is the most general of all. Economics, according to this definition, corresponds to the study of how human beings allocate scarce resources to competing ends.7 This definition, Becker asserts, means economics is not limited to the study of market phenomena (Becker ...
... Lionel Robbins’s (1932) definition is the most general of all. Economics, according to this definition, corresponds to the study of how human beings allocate scarce resources to competing ends.7 This definition, Becker asserts, means economics is not limited to the study of market phenomena (Becker ...
Institutional economics and economic development
... Samuels (1995, p. 573) summarizes eight aspects of institutional economics as follows: (1) Institutional economists tend to emphasize the evolutionary processes through which an institution evolves and rejects the neoclassical theory of automatic adjustments mechanisms through changes in the price s ...
... Samuels (1995, p. 573) summarizes eight aspects of institutional economics as follows: (1) Institutional economists tend to emphasize the evolutionary processes through which an institution evolves and rejects the neoclassical theory of automatic adjustments mechanisms through changes in the price s ...
Chapter 5 - Elon University Blogs
... Successful undergraduates acquire 'ways of thinking and practising in a subject' (McCune and Hounsell, 2005). They are inducted into ways of understanding the world that are shared by a community of scholars. The idea that undergraduate teaching introduces students to a 'way of thinking' is often ci ...
... Successful undergraduates acquire 'ways of thinking and practising in a subject' (McCune and Hounsell, 2005). They are inducted into ways of understanding the world that are shared by a community of scholars. The idea that undergraduate teaching introduces students to a 'way of thinking' is often ci ...
General Equilibrium and the Efficiency of Perfect Competition
... • Pareto efficiency, or Pareto optimality, is a condition in which no change is possible that will make some members of society better off without making some other members of society worse off. • This very precise concept of efficiency is known as allocative ...
... • Pareto efficiency, or Pareto optimality, is a condition in which no change is possible that will make some members of society better off without making some other members of society worse off. • This very precise concept of efficiency is known as allocative ...
V E Meir Kohn ALUE AND
... The assumption of trading equilibrium is an appealing one for a theory of value. If all possible opportunities for mutually advantageous exchange are being exploited, then the pattern of trading is stationary and it is possible to talk about the relative prices that support this pattern and the allo ...
... The assumption of trading equilibrium is an appealing one for a theory of value. If all possible opportunities for mutually advantageous exchange are being exploited, then the pattern of trading is stationary and it is possible to talk about the relative prices that support this pattern and the allo ...
Value and Exchange
... The assumption of trading equilibrium is an appealing one for a theory of value. If all possible opportunities for mutually advantageous exchange are being exploited, then the pattern of trading is stationary and it is possible to talk about the relative prices that support this pattern and the allo ...
... The assumption of trading equilibrium is an appealing one for a theory of value. If all possible opportunities for mutually advantageous exchange are being exploited, then the pattern of trading is stationary and it is possible to talk about the relative prices that support this pattern and the allo ...
The Evaluation of Post-Keynesian Economics
... Abstract: - In this article, we will first review the historical developments leading to the birth of Post-Keynesian Economics and then give the developments of Post-Keynesian Economics in terms of their assumptions and methodology, later on we will discuss the current state of Post-Keynesian Econom ...
... Abstract: - In this article, we will first review the historical developments leading to the birth of Post-Keynesian Economics and then give the developments of Post-Keynesian Economics in terms of their assumptions and methodology, later on we will discuss the current state of Post-Keynesian Econom ...
Prof. Dr. Mükerrem Hiç Dr. Özlen Hiç
... with P&W-rigidities, all leading to lack of AD, hence Keynesian UN at least in the SR ifnot in the LR (Mankiw and Romer, 1995a, 1995b). Many ofthese models or causes of P&W-rigidities would produce Keynesian UN only in the SR and even then the effect would not be strong enough. Yet, these models wer ...
... with P&W-rigidities, all leading to lack of AD, hence Keynesian UN at least in the SR ifnot in the LR (Mankiw and Romer, 1995a, 1995b). Many ofthese models or causes of P&W-rigidities would produce Keynesian UN only in the SR and even then the effect would not be strong enough. Yet, these models wer ...
Ethics of the Discount Rate in the Stern Review on the Economics of
... applying cost–benefit analysis to climate change policy. This immediately focuses attention on the practice of discounting, so in section 3 we disaggregate the discount rate into its key parameters. Much of the criticism of the Review by economists has focussed on two particular parameters: the elas ...
... applying cost–benefit analysis to climate change policy. This immediately focuses attention on the practice of discounting, so in section 3 we disaggregate the discount rate into its key parameters. Much of the criticism of the Review by economists has focussed on two particular parameters: the elas ...
real-world economics review
... population and a hypothesized decline in innovation – the economy was effectively in a liquidity trap, and somehow rising debt hid it from view. That is the broad brush, but I expect that explaining this while remaining true to the Loanable Funds model will not be an easy task—since, like a Liquidit ...
... population and a hypothesized decline in innovation – the economy was effectively in a liquidity trap, and somehow rising debt hid it from view. That is the broad brush, but I expect that explaining this while remaining true to the Loanable Funds model will not be an easy task—since, like a Liquidit ...
Essentials of Economics, Krugman Wells Olney
... ➤ Why economists are often deeply skeptical of attempts to intervene in markets ➤ Who benefits and who loses from market interventions, and why they are used despite their well- known problems ➤ What an excise tax is and why its effect is similar to a quantity control ➤ Why the deadweight loss of a ...
... ➤ Why economists are often deeply skeptical of attempts to intervene in markets ➤ Who benefits and who loses from market interventions, and why they are used despite their well- known problems ➤ What an excise tax is and why its effect is similar to a quantity control ➤ Why the deadweight loss of a ...
realistic and systematic abstraction
... The ‘open system’ approaches of non-mainstream economics Lawson (2009) draws on critical realism to argue that, unlike mainstream economics, the crisis has helped demonstrate the vitality of non-mainstream economics. Through Lawson’s critical realist lenses, non-mainstream economics consists of ‘ope ...
... The ‘open system’ approaches of non-mainstream economics Lawson (2009) draws on critical realism to argue that, unlike mainstream economics, the crisis has helped demonstrate the vitality of non-mainstream economics. Through Lawson’s critical realist lenses, non-mainstream economics consists of ‘ope ...
chapter
... ➤ Why economists are often deeply skeptical of attempts to intervene in markets ➤ Who benefits and who loses from market interventions, and why they are used despite their well- known problems ➤ What an excise tax is and why its effect is similar to a quantity control ➤ Why the deadweight loss of a ...
... ➤ Why economists are often deeply skeptical of attempts to intervene in markets ➤ Who benefits and who loses from market interventions, and why they are used despite their well- known problems ➤ What an excise tax is and why its effect is similar to a quantity control ➤ Why the deadweight loss of a ...
A Short History of Economics As a Moral Science* James E. Alvey
... Pre-Smithian Economics Economic matters have been discussed throughout human history but the notion of an independent science of economics only arose relatively recently, perhaps since the mid-1700s. Until that time economics was generally discussed as a subordinate part of a broader study of politi ...
... Pre-Smithian Economics Economic matters have been discussed throughout human history but the notion of an independent science of economics only arose relatively recently, perhaps since the mid-1700s. Until that time economics was generally discussed as a subordinate part of a broader study of politi ...