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Administering exams. The Test of Understanding in College Economics or TUCE is a standardized test of economics used across the United States for over 50 years. [1]The test is nationally norm-referenced in the United States for use at the undergraduate level, primarily targeting introductory or principles-level coursework in economics.
At its core, it is an aggregate production function, often specified to be of Cobb–Douglas type, which enables the model "to make contact with microeconomics". [ 1 ] : 26 The model was developed independently by Robert Solow and Trevor Swan in 1956, [ 2 ] [ 3 ] [ note 1 ] and superseded the Keynesian Harrod–Domar model .
Paul William Glewwe (born April 4, 1958) is an economist and Professor of Applied Economics at the University of Minnesota.His research interests include economic development and growth, the economics of the public sector, and poverty and welfare. [1]
Within socialist economics, a sustained critique of general equilibrium theory (and neoclassical economics generally) is given in Anti-Equilibrium, [28] based on the experiences of János Kornai with the failures of Communist central planning, although Michael Albert and Robin Hahnel later based their Parecon model on the same theory. [29]
The Harrod–Domar model is a Keynesian model of economic growth.It is used in development economics to explain an economy's growth rate in terms of the level of saving and of capital.
Labor and Monopoly Capital: The Degradation of Work in the Twentieth Century is a book about the economics and sociology of work under monopoly capitalism by the political economist Harry Braverman. Building on Monopoly Capital by Paul A. Baran and Paul Sweezy, it was first published in 1974 by Monthly Review Press. [1] [2]
Marginal revenue under perfect competition Marginal revenue under monopoly. The marginal revenue curve is affected by the same factors as the demand curve – changes in income, changes in the prices of complements and substitutes, changes in populations, etc. [15] These factors can cause the MR curve to shift and rotate. [16]
A specialist in financial economics and macroeconomics, he has been a professor of finance and economics by courtesy at the Stanford Graduate School of Business since 2016. [1] From 1994 to 2015, he served as the AQR Capital Management Distinguished Service Professor of Finance at the University of Chicago Booth School of Business. [1]