Economists develop economic models to explain consistently recurring relationships. Their models link one or more economic variables to other economic variables (see “Economic Models,” p. 8). For ...

Keynesian economics is a theory whose premise is that aggregate demand is a primary driver of the economy and employment. Keynesian economics is an economic theory, and the basic premise is that ...

There is an old joke in economics about two economists walking together down the sidewalk. One of them stops the other and says, “Look! There’s a $100 bill lying there on the ground!” As he stoops to ...

When gasoline is expensive, people grumble that big oil companies like Chevron and ExxonMobil are colluding to keep prices high. They’re wrong. The best way to understand why businesses aren’t ...

Decision theory is a cornerstone of economic analysis, providing a framework for understanding how individuals and institutions make choices under conditions of uncertainty and risk. At its core, the ...

When Rep. Alexandria Ocasio-Cortez rolled out her "Green New Deal," calling for clean energy, universal health care and guaranteed jobs, one of the first questions she got was: How do you plan to pay ...

One evening in December, after a long day working from home, Jennifer Drouin, 30, headed out to buy groceries in central Amsterdam. Once inside, she noticed new price tags. The label by the zucchini ...

Eric's career includes extensive work in both public and corporate accounting with responsibilities such as preparing and reviewing federal, state, and local tax filings; supporting multinational ...

THIS book is based on the theory that the economic man attempts to maximize his share of the world's goods and services in the same way that a participant in a game involving many players attempts to ...

Behavioral Economics is the application of psychology to the field of economics. It describes the role that psychology plays among consumers, employers, and governments, which then impacts markets and ...