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Economic Theories Essay Examples and Topics

Free Market and Business Costs

Creating opportunities for economic growth is crucial to promote the further advancement of a state in the environment of the global economy.
  • Pages: 2
  • Words: 618

Karl Marx’s Economic Philosophy

The competitive price of the commodity-A, in the end, will be twice the price of the commodity-B irrespective of the physical input values1.
  • Pages: 10
  • Words: 1345

A Moral Code in the Economy: Video Review

According to the narrator, the root cause of poverty, inequality, and the recent financial crisis is none other than the separation of labor and capital. He added that it is difficult to acquire lands for [...]
  • Pages: 7
  • Words: 2027

David Ricardo’s Economic Theories

One of the main contributions in the field that Ricardo developed without the use of mathematics as a tool is the theory of rents3.
  • Pages: 10
  • Words: 1418

“Economic Growth: International Edition” by David Weil

At the beginning of this chapter, David Weil discusses the role of technologies in increasing economic growth and productivity. This notion is used to describe a situation when the arrival of new technologies harms both [...]
  • Pages: 8
  • Words: 2305

Economics: Episode 6 of “Capitalism” Documentary

In the meantime, while Keynes simply rejects the potential of the invisible hand of the market, Polanyi develops this idea and comes to a conclusion that the liberalistic attempt to establish the self-regulating market system [...]
  • Pages: 1
  • Words: 352

Economics: Episode 5 of “Capitalism” Documentary

The pivot point of the Hayek's theory is the consideration of those factors that illustrate the market's failure to coordinate human's actions in an appropriate manner and the consequences of this failure such as unemployment.
  • Pages: 1
  • Words: 364

Labor Power: Adam Smith vs. David Ricardo

In the meantime, the key problem that exists in the modern market is that a laborer is no longer empowered to allocate the labor; as well as the cost of a commodity is no longer [...]
  • Pages: 2
  • Words: 391

Managerial Economics: Solving the Principal Agent Problem

The five forces framework is aimed to analyze the level of competition within a particular industry in order to draw conclusions about the profitability of this industry and, consequently, the profitability of organizations that operate [...]
  • Pages: 5
  • Words: 1379

Public Good Allocation

One of the solutions is to impose a tax; it is a Lindahl tax computable according to the citizens' limited benefit, and this has to be assessed "at the optimal level of the public good".
  • Pages: 40
  • Words: 11595

Chapter 1 of “Managerial Economics” by Davies & Lam

The scholars define Managerial Economics as the study that is focused on the application of economic theory, methods, and principles to the process of business and administrative decision-making so that the organizations can achieve their [...]
  • Pages: 1
  • Words: 281

Comparative Advantage Theory by Ricardo

The country with the relative abundance of labor will easily procure cheap labor for the production of labor-intensive products, while the other country will have to pay dearly to procure the same level of work [...]
  • Pages: 3
  • Words: 1131

Economic History: Ricardo, Mill, Marx and Keynes

However, the price of the output must increase so that the cultivation of the low-quality land can be profitable. Moreover, the increase in the misery of the workers will eventually lead to a revolution against [...]
  • Pages: 10
  • Words: 2766

Economic Crisis and Theories of Its Causes

As a result of this, Marx developed different and generally contradicting theories economic crisis namely; underconsumptionist approach, the theory of capital over accumulation and approach of tendentially falling profit rate.
  • Pages: 3
  • Words: 589

Leisure and Income: Individual Labor Supply Theory

One of the tools that are described by the scholars is the income-leisure indifference curve. They have to find the most optimal ratio of leisure and compensation in order to retain workers.
  • Pages: 5
  • Words: 1421

Knowledge-Based Economy and Its Support in Decision Making

To be more accurate, the UAE organizations need to determine the methods of capturing and recording the business knowledge acquired in the course of the KBE implementation. People need to be taught about the concept [...]
  • Pages: 6
  • Words: 2041

Knowledge-Based Economy

Active discussion of the importance of the knowledge-based model of economic development is related to the emergence of influential results in certain successful economies, among which the UAE is one of the best examples.
  • Pages: 3
  • Words: 698

Behavioral Economics in China

Behavioral economics can be defined as the study of the effects of psychological, cultural, emotional, and cognitive factors in the process of making economic decisions involving individuals and organizations.
  • Pages: 8
  • Words: 2232

Carl Menger’s Economics Theory

The massive numbers of the latter kind render the loss of a thousand uninteresting to the man, but the loss of even one of the ten fruit trees leads him to starve, and he is [...]
  • Pages: 15
  • Words: 4143

Using Mudharabah: Advantages and Disadvantages

The clamor for a better system calls for the creation of a line of credit for aspiring entrepreneurs, while at the same time ensuring the sustainability of the banking sector.
  • Pages: 6
  • Words: 1713

Saving Capitalism: Its Role in Modern World

This type of economic structure is called capitalistic, and one of its central conditions is the right to private property and free trade within the limits of the norms established by the law.
  • Pages: 2
  • Words: 555

Macroeconomic and Microeconomics: Ubiquity and Popularity

The discipline focuses on the analysis of global economic issues and the mechanisms and principles that determine the observed behaviors and trends to be able to model the future course of action and predict the [...]
  • Pages: 2
  • Words: 572

David Ricardo’s Economic Theories

As revealed in this study, he developed the theory of rent, wages, and profit wrote about the Iron Law of Wages and the Theory of Comparative Advantage.
  • Pages: 10
  • Words: 1420

Optimum Currency Area Theory and Its Evidence

The theory of optimum currency area is difficult to maintain at a large scale based on the original theoretical framework since it leads to the creation of severe destabilizing effects on the economic region but [...]
  • Pages: 8
  • Words: 2221

David Ricardo’s Liberal Economic Theories

However, it is still worth noting that, at a comparatively young age, he experienced a change in environment as his family moved to Amsterdam, which was swarming with financial and economic opportunities, Credited as the [...]
  • Pages: 10
  • Words: 2758

“The Undercover Economist” by Tim Harford

One of the most prominent arguments in "The Undercover Economist" is the author's view that the pioneering economic concepts are still applicable to the modern economic environment.
  • Pages: 9
  • Words: 2562

Locke’s Work on Interest and Value of Money

Locke's "Some Considerations of the Consequences of the Lowering of Interest and the Raising the Value of Money" is one of his principal papers devoted to the analysis of the most actual economic issues of [...]
  • Pages: 4
  • Words: 1223

Commodity as Social Relations Between Producers

Thus, the commodity itself is more than just the outcome of labor; it is the embodiment of relations between members of society and, therefore, commodities are often identified with values and meanings, which are referred [...]
  • Pages: 3
  • Words: 826

Goods and Services Differences

In the chapter of 'The nature of services" Van, the authors stated that differences between services and goods lay in the intangible property.
  • Pages: 8
  • Words: 2332

Individualism and Economic Order

Nevertheless, starting the analysis of the main ideas of these authors, it is vital to outline the background and the main processes in society that triggered the growth of the interest towards these issues.
  • Pages: 3
  • Words: 849

What Are the Limitations of the Lewis Model?

The main limitation of the Lewis model is that there were two models: that of Lewis's original ideas and advocacy for the economic development of the tropical countries, and the Lewis model advocated by Fei [...]
  • Pages: 10
  • Words: 2758

The Coase Theorem: Key Economic Components

The essence of the Coase Theorem is rather hard to nail down; according to the existing definition, the Coase Theorem is traditionally referred to as the concept of economic efficiency achieved through the decrease of [...]
  • Pages: 6
  • Words: 1107

Common Property Resources’ Management

Similarly, using the findings of Cinner, through his investigations into the socioeconomic factors that influence customary marine tenure in the Indo-Pacific region, this paper shows that only a few socioeconomic changes support the common resource [...]
  • Pages: 4
  • Words: 1119

Economic Inequality and Colonialism

The participation of the European settlers in the development of these institutions played a significant role in the provocation of the economic weakness of the colonized countries.
  • Pages: 5
  • Words: 1398

Adam Smith’s Economic Relations

Smith looks into the development of sufficient products in the country, and the human factors that are integrated to meet the demands of every individual in the nation.
  • Pages: 3
  • Words: 882

Theories of Rent and Urban Economics

According to the early theories of economics established by Adam Smith that also relate to the concept of the World of Nations, the value of land and the actual rent charged for an office space [...]
  • Pages: 10
  • Words: 2868

XYZ Company

For instance, the marginal cost of the brand and association of the brand with the sports celebrities will double the effect of the appeal of the product to the customers.
  • Pages: 6
  • Words: 1781

Economic Theories of Amartya Sen and David Ricardo

It is therefore evident that each country has the potential to benefit through specialization in the production of goods which it has a comparative advantage and use the goods to trade for the goods it [...]
  • Pages: 12
  • Words: 3407

Theory of Individual Labor Supply

In other words, the marginal rate of substitution of leisure for income refers to the level of income an individual is willing to surrender to acquire an extra unit of leisure time.
  • Pages: 5
  • Words: 1398

‘Great by Choice’ by Jim Collins & Morten T. Hansen

In their analysis, they tend to discount the role of luck in this success concluding that it is the decisions taken by a company's leadership which determine whether a company performs well during difficult times.
  • Pages: 4
  • Words: 1134

Adam Smith Economic Theory

However, the interests of the agents involved in the process are not similar and therefore not coordinated by the outcome of the process, which the exchange of goods and services.
  • Pages: 7
  • Words: 1889

Development Theories after Second World War

Consequently, the rate of growth and development could be measured by the level of savings and investment in physical capital in the country. This theory has included changes in technology into the model of growth [...]
  • Pages: 3
  • Words: 810

Newspaper Article Review and Economic Theories

The article, "The State of Economics", is an article that discusses the turmoil between economists of the current age in trying to reconcile economic principles with both the classical and Keynesian economic theories of the [...]
  • Pages: 3
  • Words: 832

Literature Review: Are Small Businesses always under-funded?

Since globalization compels small business to expand and keep in tandem with business dynamics, insufficient capital becomes the greatest impediment that affects growth and development of small businesses relative to large businesses.
  • Pages: 6
  • Words: 1707

Convergence Theory

During the Cold War period, the United States and the Union of Soviet Socialist Republic had different economic systems of capitalism and communism respectively, but with time, the two economic systems have been merging.
  • Pages: 2
  • Words: 611

Schools of economic thought

Of all the schools of thought, the neoclassical school of thought has had the most influence in my way of thinking.
  • Pages: 2
  • Words: 576

Publishers are Shapers of History

They have a staff that includes editors and others who are responsible for the day-to-day operations of the publishing house.[1] This means that publishing is not only about books but also about the business of [...]
  • Pages: 4
  • Words: 1234

Wisconsin’s Labor Unions

The bill has the support of Republican lawmakers who have the numbers in both the state Assembly and the Senate to pass it.
  • Pages: 3
  • Words: 818

Theory of Second Best

This theory will be useful in analyzing Turkey's integration into the EU because over the past few years, there have been increased concerns by some EU members of the country's ability to smoothly integrate with [...]
  • Pages: 7
  • Words: 1972

Judy Wicks’ Biography and Innovatives

The first reason for this reconstruction was the danger of destruction of the building. She was the first person who implied such business skills in Pennsylvania.
  • Pages: 2
  • Words: 658

Adam Smith And The Invisible Hand

4.5
Smith summarizes benefits of markets by saying that a market society leads to improved productivity through division of labor and specialization, it is affluent to all people and it leads to ultimate reduction of difference [...]
  • Pages: 7
  • Words: 1911

Marxist Theory and Social Classes

According to the Marxist theory, the current structure of the factors of production is in direct relation to the structure of social classes in the society.
  • Pages: 3
  • Words: 897

Advanced Theories of Urban and Regional Planning

The procedural category encompasses the theories of planning, whereas the substantive consists of the theories in planning. In the substantive context, planning theory refers to the descriptive and predictive body of knowledge about the morphology [...]
  • Pages: 5
  • Words: 1335

Theories of Economic Growth

Too, despite highlighting the plight of the global poor, most of these activities are executed with the aim of increasing the foreign aid to the poor.
  • Pages: 8
  • Words: 2307

Adam Smith’s Ideas

5
These actions contribute to the existence of the world and can be used to develop a better understanding of the world.
  • Pages: 2
  • Words: 550

The End of the Free Market by Ian Bremmer

In reference to the emergence of the recent patterns in the global economy, Brimmer, the author of the case study book reveals that the expansion of non-western states and the overall expansion of the global [...]
  • Pages: 8
  • Words: 2282
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