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In the history of economic thought, a school of economic thought is a group of economic thinkers who share or shared a mutual perspective on the way economies function. While economists do not always fit within particular schools, particularly in the modern era, classifying economists into schools of thought is common.
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.
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The Berkeley Mafia was the term given to a group of University of California-trained [1] economists in Indonesia who were given technocratic positions under the Suharto dictatorship during the late 1960s.
William Stanley Jevons FRS (/ ˈ dʒ ɛ v ən z /; [2] 1 September 1835 – 13 August 1882) was an English economist and logician.. Irving Fisher described Jevons's book A General Mathematical Theory of Political Economy (1862) as the start of the mathematical method in economics. [3]
The Chicago school of economics is a neoclassical school of economic thought associated with the work of the faculty at the University of Chicago, some of whom have constructed and popularized its principles.
Walras's law implies that the sum of the values of excess demands across all markets must equal zero, whether or not the economy is in a general equilibrium. This implies that if positive excess demand exists in one market, negative excess demand must exist in some other market.
Principles of Economics [1] is a leading political economy or economics textbook of Alfred Marshall (1842–1924), first published in 1890. [2] [3] It was the standard text for generations of economics students.