Search results
Results from the WOW.Com Content Network
Advanced Placement (AP) Microeconomics (also known as AP Micro) is a course offered by the College Board as part of the Advanced Placement Program for high school students interested in college-level coursework in microeconomics and/or gaining advanced standing in college.
Ronald Coase (1910–2013) of the Chicago School of Economics was the most prominent economic analyst of law, and the 1991 Nobel Prize in Economics winner. His first major article The Nature of the Firm (1937) argued that the reason for the existence of firms (companies, partnerships, etc.) is the existence of transaction costs.
Major topics include measurement of economic performance, national income and price determination, fiscal and monetary policy, and international economics and growth. AP Macroeconomics is frequently taught in conjunction with (and, in some cases, in the same year as) AP Microeconomics as part of a comprehensive AP Economics curriculum, although ...
Economic history is the study of history using methodological tools from economics or with a special attention to economic phenomena. Research is conducted using a combination of historical methods, statistical methods and the application of economic theory to historical situations and institutions.
Economics classes make extensive use of supply and demand graphs like this one to teach about markets. In this graph, S and D refer to supply and demand and P and Q refer to the price and quantity. The following outline is provided as an overview of and topical guide to economics .
In many countries' curricula, social studies is the combined study of humanities, the arts, and social sciences, mainly including history, economics, and civics.The term was coined by American educators around the turn of the twentieth century as a catch-all for these subjects, as well as others which did not fit into the models of lower education in the United States such as philosophy and ...
Importance: The book built on ordinal utility and mainstreamed the now-standard distinction between the substitution effect and the income effect for an individual in demand theory in the 2-good case. It generalized analysis to the case of one good and all other goods, that is, the composite good. It aggregated individuals and businesses ...
Transformation problem: The transformation problem is the problem specific to Marxist economics, and not to economics in general, of finding a general rule by which to transform the values of commodities based on socially necessary labour time into the competitive prices of the marketplace. The essential difficulty is how to reconcile profit in ...