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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 ...
Macroeconomics is traditionally divided into topics along different time frames: the analysis of short-term fluctuations over the business cycle, the determination of structural levels of variables like inflation and unemployment in the medium (i.e. unaffected by short-term deviations) term, and the study of long-term economic growth.
Description: A political-economic treatise by Karl Marx. Marx wrote this critical analysis of capitalism and of the political economy from the perspective of historical materialism, the view that history can be understood as a sequence of modes of production in which exploiting classes extract an economic surplus from exploited classes.
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:
This is consistent with the results of a survey published in the American Economic Review by Allgood (2004) that shows that students "rarely take economics as a free elective – especially beyond principles" (p.5). [4] More is needed to be done in the classroom to excite students about economics education. Simulations supplement the standard ...
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Economics (/ ˌ ɛ k ə ˈ n ɒ m ɪ k s, ˌ iː k ə-/) [1] [2] is a social science that studies the production, distribution, and consumption of goods and services. [3] [4] Economics focuses on the behaviour and interactions of economic agents and how economies work.
The goal of this project is to provide a forum for discussion of economics articles and topics, and through discussion, provide guidelines for articles related to the field of economics. The vision of this project is to improve every economics article substantially so that every article reaches the level of quality of a Featured Article.