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Vor 4 Tagen · e. Mathematical economics is the application of mathematical methods to represent theories and analyze problems in economics. Often, these applied methods are beyond simple geometry, and may include differential and integral calculus, difference and differential equations, matrix algebra, mathematical programming, or other computational methods.
Vor 3 Tagen · Stiglitz explains how the neoclassical, or Walrasian model ("Walrasian economics" refers to the result of the process which has given birth to a formal representation of Adam Smith's notion of the "invisible hand", along the lines put forward by Léon Walras and encapsulated in the general equilibrium model of Arrow–Debreu), may ...
Vor 15 Stunden · Nudge theory. 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. [1] [2]
Vor 2 Tagen · As the name "Neoclassical" implies, this perspective of how the macroeconomy works is a "new" view of the "old" classical model of the economy. The classical view, the predominant economic philosophy until the Great Depression, was that short-term fluctuations in economic activity would, rather quickly, with flexible prices, adjust back to full ...
Vor 4 Tagen · Our view here is that neoclassical economic theory is a destructive way of thinking about economics. It reduces we human beings to mere consumers, thus denying us the fullness of our person-hood. It posits that all economic relationships must be driven by self-interest and maximization of pleasure and profit; it encourages selfishness over community, indifference over empathy, separation over ...
Vor 3 Tagen · Neoclassical economics is a perspective in economics that proposes that because of the existence of individual rationality, markets will not need to be regulated and will correct themselves through automatic mechanisms. The policy implications of neoclassical economics are laissez-faire goernments and the bare minimum of government ...
Vor 4 Tagen · This course surveys the development of economic thought from post-Renaissance times through the early 20th Century. The primary objective of the course is to understand the intellectual foundations of modern economic theory and understand how economic philosophy evolved through-and alongside-history. The course will focus on 1) the ...
