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As exampled by the work of Nassau William Senior (1790-1864), and English economists John Stuart Mill (1806-1873) and John Maynard Keynes (1883-1946), economic methodology is the process by which economics is explained: the philosophy of science applied to economics.

In the 19th century, British economists examined the premises of economic theory, arguing that the verification of [...]

Capital asset pricing model (CAPM) is a model of financial economics that is used to measure the rate of return of an asset in a well-diversified portfolio, and thus determining its value. Capital asset pricing model (CAPM) is therefore a model used to determine the price of an asset.

Capital asset pricing model (CAPM) was introduced [...]

Many people do now know what macroeconomics actually is, so I will try to explain what is macroeconomic economy or with other words what is macroeconomic point of view. This will be a very short article, since there is not much to tell when speaking generaly about macroeconomics.

Economy as a science is devided into two [...]

Cambridge capital controversies refer to the debate between British and American economists concerning the neoclassical approach to economics. They were based at Cambridge University (England) and the Massachusetts Institute of Technology (Cambridge, USA), respectively.

The Modern School, particularly influenced by Alfred Marshall (1842-1924) and headed by the English economists Arthur Cecil Pigou (1877-1959) and John Maynard [...]

Classical macroeconomic model is first developed by French economist Jean-Baptiste Say (1767-1832), and later revised by other classical economists.

Through the assumptions of factor and product price flexibility, and in the absence of regulations which prevent the market adjustment of demand and supply, full employment equilibrium will be reached in the classical macroeconomic model.
Written by: Jayashree [...]