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Hace 5 días · Financial economics is the branch of economics characterized by a "concentration on monetary activities", in which "money of one type or another is likely to appear on both sides of a trade". Its concern is thus the interrelation of financial variables, such as share prices, interest rates and exchange rates, as opposed to those ...
Hace 3 días · Behavioral economics is the study of the psychological, cognitive, emotional, cultural and social factors involved in the decisions of individuals or institutions, and how these decisions deviate from those implied by classical economic theory.
Hace 2 días · In classical economics, the theory of production and the theory of growth are based on the theory of sustainability and law of variable proportions, whereby increasing either of the factors of production (labor or capital), while holding the other constant and assuming no technological change, will increase output, but at a ...
Hace 2 días · Introduction. In economics Keynesian economics , also Keynesianism and Keynesian Theory, is based on the ideas of twentieth-century British economist John Maynard Keynes. According to Keynesian economics the public sector, or the state, can stimulate economic growth and improve stability in the private sector – through, for example, interest ...
- Keynes and Classical Economics
Hace 4 días · Adam Smith (baptized June 5, 1723, Kirkcaldy, Fife, Scotland—died July 17, 1790, Edinburgh) was a Scottish social philosopher and political economist, instrumental in the rise of classical liberalism. Adam Smith is a towering figure in the history of economic thought.
- Adam Smith was the son by the second marriage of Adam Smith, the comptroller of customs at Kirkcaldy, Scotland, a small (population 1,500) but thri...
- Adam Smith received his elementary education at a two-room “burgh” school in Kirkcaldy, Scotland, before entering Glasgow College at age 14 in 1737...
- Returning to his home in Kirkcaldy, Scotland, in 1746 after six years of study at Oxford, Adam Smith cast about for suitable employment and through...
- Adam Smith is known primarily for a single work—An Inquiry into the Nature and Causes of the Wealth of Nations (1776), the first comprehensive syst...
Hace 4 días · Psychological observations are by now well integrated into economics, especially in the theory of finance, as can also be seen in the Nobel Prize awarded to Thaler. On the contrary, Simon’s attempt to reforge economic theory on the paradigm of bounded rationality failed. Starting from the birth of the neoclassical paradigm, we’ll describe the attempt to give it psychological foundations ...
Hace 5 días · What is Public Choice Theory? Public choice theory is the study of how public spending and decision-making are affected by the actions of voters, public officials, and other parties that are...
