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Introduction to Demand and Supply; 3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services; 3.2 Shifts in Demand and Supply for Goods and Services; 3.3 Changes in Equilibrium Price and Quantity: The Four-Step Process
Neo-Keynesian economics is a school of macroeconomic thought that was developed after World War II from the writings of John Maynard Keynes. A group of economists (notably John Hicks , Franco Modigliani , and Paul Samuelson ), attempted to interpret and formalize Keynes' writings, and to synthesize it with the neo-classical models of economics .
Thermoeconomics, also referred to as biophysical economics, is a school of heterodox economics that applies the laws of statistical mechanics to economic theory. [1] Thermoeconomics can be thought of as the statistical physics of economic value [ 2 ] and is a subfield of econophysics .
A variety of measures of national income and output are used in economics to estimate total economic activity in a country or region, including gross domestic product (GDP), Gross national income (GNI), net national income (NNI), and adjusted national income (NNI adjusted for natural resource depletion – also called as NNI at factor cost).
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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.
Real business-cycle theory (RBC theory) is a class of new classical macroeconomics models in which business-cycle fluctuations are accounted for by real (in contrast to nominal) shocks. [1]
