Search results for keyword: macroeconomics
Marshall's Equilibrium Theory of Value
John Stuart Mills Theory of Equilibrium Value
John Stuart Mill was a British philosopher who, in the 19th century, developed a theory of equilibrium value. This theory was concerned with the balance between an individuals pursuit of his own interests and his respect for the interests of others. M......
06/07/2023 
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Sophia
Marshall's theory of interest rates
Marshall s Interest Rate Theory
Marshalls interest rate theory is a set of theories put forth by economist Alfred Marshall (1842-1924) regarding the mechanism by which interest rates are determined. Marshalls theory was one of the earliest attempts to explain interest rates.
The theory focuses ......
Adam Smith Award (NABE)
Adam Smith Prize Overview
Adam Smith Prize is a prize organised by the National Academy of Business and Economics (NABE). Its main purpose is to honor individuals who have excelled in the field of business and economics and who have made significant contributions to the advancement of these discip......
Modern Quantity Theory of Money
Modern Money Theory
Modern Money Theory, also referred as ‘MMT’, is a school of economic thought that focuses on understanding the ways money is created and used in the modern macroeconomy. The theory explains the relationship between government, central banks, commercial banks, and people with......
neoclassical synthesis
Neo-Classical Synthesis School
Neoclassical synthesis school refers to a new neoclassical synthesis based on the synthesis of classical economics and Keynesian theory after World War II. After World War II, the combination of Keynesian imperfect competition theory and neoclassical perfect competi......
New Keynesianism
Developments in Keynesian Economics
Keynesian economics is an economic theory based upon the analysis of macroeconomic aggregates with the use of Keynes’s General Theory of Employment, Interest and Money. Developed by British economist John Maynard Keynes during the 1930s, Keynesian economics fo......
long run aggregate supply curve
Long-term aggregate supply (LAS) is a concept used in macroeconomics to describe the supply-side of the economy in long-term macroeconomic analysis. It is one of two components of aggregate supply, which is the sum of short-term aggregate supply (SAS) and long-term aggregate supply (LAS).
Long-te......
Econometrics
Introduction
Econometrics is the branch of economics which deals with the application of statistical and mathematical techniques and methods to the analysis and solution of economic problems. It has become an increasingly important and powerful tool for economists, thanks to its ability to provid......
Economic Fluctuation Theory
Introduction
Economic fluctuations are a part of life, and they can have wide-sweeping effects on both businesses and individuals. The concept of cyclical fluctuations in the economy has spawned the economic fluctuations theory, which is designed to explain why certain economic indicators fluctua......
Harrod-Domer Economic Growth Model
The Harrod-Domar Model of Economic Growth
The Harrod-Domar model was created in 1939 by British economist Roy Harrod and Russian-American economist Evsey Domar. It is used in macroeconomics to explain the relationship between saving, capital stock and economic growth. The model is based on the as......
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