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Essays on why do economists use models

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Homo Economicus Myth or Reality
6 pages (1500 words) , Download 1
In the paper “Homo Economicus – Myth or Reality” the author analyzes homo economicus as an approximation or model of homo-sapiens that acts to obtain the highest possible well-being for himself given available information about opportunities and other constraints, both natural and institutional…
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What is Homo Economicus
13 pages (3250 words) , Download 1
The author of the present research "What is Homo Economicus" asserts that the work was done by reading, Blackman, Burkitt and Irene & Tseng will be discussed and analyzed with respect to the stated topic. Although a relatively common term it had not come into practical use till the 19th century…
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How Economists Have Recognised Psychological, Social and Corporate Influences on Consumer Choice

8 pages (2000 words) , Download 1
The author of this paper gives detailed information about the psychological, social, and corporate influences on consumer choice, touching on the corporate influence in these decisions as well to illustrate how these factors influence consumer choice…
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General Equilibrium and welfare economies
14 pages (3500 words) , Download 2
In this essay we will study briefly the main concepts of General Equilibrium and Welfare Economics. These microeconomic models are very helpful in the fields of policy-making, but they are also useful for everybody in order to understand how Microeconomics works…
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Economics Economic Growth Models

4 pages (1000 words) , Download 1
This paper is a detailed summary of the following broad types of economic growth models: Neo-Classical, New Growth Theory, and Keynesian.  The effects of war on each model is also explored. The Neoclassical growth model has its origins in 1800’s through the works of William Stanley Jevon…
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Economics Summary and review paper

16 pages (4000 words) , Download 1
Simon takes on the existential issues of what it means to focus on a particular field of study like economics. He starts with the notion of what it means to have a "life philosophy" and the importance of identifying its core components. He asserts that "in one sense, a life philosophy is your picture of the universe in which you find yourself, including, in center foreground, your picture of the human condition…
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Development 1
6 pages (1500 words) , Download 1
(Name) (Assignment) (Date) ECONOMIC DEVELOPMENT STRATEGIES 1950s INTRODUCTION The Post World War II global economy, especially the downturn of European economy intensified the urge for some well-framed economic development strategies across the globe. Although many economists had introduced many economic policies for rebuilding the economy, none of them could vie with the adverse situations…
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Theoretical Evidence That the Hicksian Model Attempts to Enhance the Consumer Theory
10 pages (2500 words) , Download 2
This paper "Theoretical Evidence That the Hicksian Model Attempts to Enhance the Consumer Theory" focuses on the consumer theory which is one of the centrepieces of the neoclassical branch of microeconomics. Neoclassical consumer theory is the foundation on which modern economics has its basis. …
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The Japanese and Chinese economic models

9 pages (2250 words) , Download 1
In the paper “The Japanese and Chinese economic models” the author compares the two economic models. The economic models perform two basic functions, which include selection of information on the basis of econometric study and simplification of the gathered information…
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Economics of Development

12 pages (3000 words) , Download 1
'Growth theories have failed to recommend a successful growth strategy for developing countries. Countries that succeeded in charting their own path of growth and development, managed to create dynamic comparative advantage, utilized human capital and made use of modern technology.' Do you agree with this view Explain your answer with evidence.
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Economics 5100
2 pages (500 words) , Download 1
Free
Economics is the science of studying the characteristics and behavior of production, development and management of material wealth and products in a country, business or even a household. It has been studied and developed over time leading to the development of theories and…
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Compare and contrast the planning functions of the Japanese and Chinese economic models

9 pages (2250 words) , Download 1
Economic Models Before going into the comparison of planning functions of the Japanese and Chinese economic models, let us get a better understanding of what economic models actually are. An economic model is a construct that includes economic processes in the form of variables…
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Transnational Social Policies: The Development Challenges of Globalization
6 pages (1500 words) , Download 1
An essay "Transnational Social Policies: The Development Challenges of Globalization" reports that for the most part, history can teach us what worked and what didn’t work in the past. Policymakers would be smart not to repeat economic policies that have had negative results…
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Steady- State Economics and Environmental Philosophy
9 pages (2250 words) , Download 1
Marissa Sims Steve Naragon Environmental Philosophy May 8, 2011 Steady- State Economics and Environmental Philosophy Herman Daly (2008) in his paper, A Steady State Economy defines a steady state economy as one with constant population and constant stock of capital, maintained by a low rate of throughput that is within the regenerative and assimilative capacities of the ecosystem…
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An Introduction to Positive Economics
7 pages (1939 words) , Download 2
The author of the essay "An Introduction to Positive Economics" states that Milton Friedman is considered to have been one of the most influential economists of the 20th century by The Economist. He is best known for looking at money supply as a determinant of the nominal value of output. …
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Quantitative and Academic skills in learning Economics
5 pages (1250 words) , Download 1
The subject centers at studying the theory of needs and wants and aims at analyzing the way in which a compromise with respect to the scarce resources is taken in different societies.
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Comparison Austrian and Post-Keynesian Theories of Competitive Process
8 pages (2221 words) , Download 2
This case study "Comparison Austrian and Post-Keynesian Theories of Competitive Process" discusses understanding with regards to the interrelated patterns of employment, salary and wages and its impact on business performance and the economy as a whole…
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Economics

5 pages (1250 words) , Download 2
By methodology, this paper refers to the fundamental approach taken by economics in building theories, hypothesis, and principles used in…
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Spin Free Economics by Behravesh
4 pages (1000 words) , Download 1
The paper “Spin Free Economics by Behravesh” accuses the government in most of the financial cataclysms. By their intervention, pollution, volatility, and monopolies are explained. The effect of intervening in the markets of communist governments is much more serious than that of capitalist ones…
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Joan Robertson
2 pages (500 words) , Download 1
Free
Economists all around the world receive recognition for the work and contributions they made in the field as people get to see the impact their school of thought had on economics. There is a mention of some of the big names in economics, but there are also a few who made waves…
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The Mobile Phone Industry in the UK
8 pages (2000 words) , Download 2
The almost universal ownership of personal mobile phones in the UK (Keynote, 2005) coupled with high-decibel advertising have today made almost every Briton aware of such terms as 2G or 3G. The terms refer to technology - 2G stands for second-generation technology while 3G stands for third-generation technology…
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The Mobile Phone Industry in the UK
20 pages (5273 words)
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From the paper "The Mobile Phone Industry in the UK" it is clear that the attempt to match theory with reality shows that at present there is no single theory that can claim to capture most of the significant or important aspects of the reality represented by the mobile phone industry. …
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What are the strengths and weaknesses of general equilibrium as an organising concept
9 pages (2250 words) , Download 2
The concept of general equilibrium is considered to be an integral part of theoretical economics. It desires to present a hypothetical model of market equilibrium in the context of economic theory. It acts best in regards to some propositions that can be underlined as follows…
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Econ308 Final paper

12 pages (3000 words) , Download 1
With economic theorists such as Alfred Marshall and Vilfredo Pareto economic theory expanded its roots largely as a social science and began incorporating quantitative analytic methods of investigation. Similarly, as these theorists shifted the emphasis of economic investigation…
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Relationship between Neoliberalism, Austrian school of economics and Chicago school of economics
13 pages (3250 words) , Download 1
Historically, different economic theorists have diversified opinions. Each prominent viewpoint is always provisional with time difference. …
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Friedrich A. Hayeks Individualism and Economic Order Summary
8 pages (2000 words) , Download 1
The paper "Friedrich A. Hayek’s Individualism and Economic Order Summary" states that themes used by the writer indeed became the central ideas around which the entire book, which is actually made up of a collection of writings was written. Four of these basic ideas are summarized in the paper…
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Discuss the flexible price monetary model of exchange rate determination and its ability to explain foreign exchange movements. How realistic is the assumption that prices are fully flexible Does this model perform well when tested empirically
5 pages (1250 words) , Download 1
These are trade in goods and services and the trade in financial assets such as futures, hard currency, and interest rate swaps. In the era before the world embraced financial liberalization, governments of countries…
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Conceptual Frame of Adam Smith and John Maynard Keynes to Competition
9 pages (2250 words) , Download 1
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The paper under the headline "Conceptual Frame of Adam Smith and John Maynard Keynes to Competition" focuses on competition is apparent in any economic environment. Various economists have covered the topic making arguments for and against the competition. …
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China Banking System. Comparison between State-owned Banks and Joint-Stock Commercial Banks
9 pages (2250 words) , Download 2
The empirical evidence on banking efficiency aims at highlighting features associated with the role of economic development and banking reforms in China over the given time. This is as a result of changes in China’s banking sector associated with WTO accession (2001) and the recent financial crisis (2008). …
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Keynes

13 pages (3250 words) , Download 1
His ideas and theories have generated academic discussion and debate. As with all landmark scientific achievements in human history Keynesian economics too has had mixed fortunes…
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Biography of David Ricardo
7 pages (1750 words) , Download 1
The researcher of this essay talks about the track of David Ricardo, a fine economist of the 19th century. His economic theory of labor values, a theory of rent and theory of comparative advantage remain actual. His personal life affected his achievements in economics and successful busyness.
 
 
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Explain the Rise and Fall of Keynesianism
7 pages (1750 words) , Download 2
Institution The Rise and fall of Keynesianism It was the great idea of John Maynard to inspire the new deal and this helped rebuild the world most economies after the World War II (Leeson, 262). Keynesian economics also referred to as Keynesianism is an economist by the name John Maynard Keynes…
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John M. Keynes
6 pages (1500 words) , Download 1
John Maynard Keynes: The Relevance of His Economic Theories Author’s Details: Institutional Affiliation: John Maynard Keynes: The Relevance of His Economic Theories John Maynard Keynes, a man of towering intellect with a capability of moving an entire generation towards an economic thought, was, without a doubt, a gravitating influential figure whose efforts have, though not entirely, enabled a democratic, flourishing civil world…
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Explain the Balance-of-Payments BoP
7 pages (1750 words) , Download 1
1. Explain the Balance-of –Payments (BoP) and its relationship to the foreign-exchange (“forex”) market under: a) a free-floating currency regime; and b) a “fixed-rate” currency regime. The Balance of Payments Manual (BPM) published by the International Monetary Fund defines Balance of Payments (BoP) as “the statistical statement that systematically summarizes, for a specific time period, the economic transactions of an economy with the rest of the world” (International Monetary Fund 1)…
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Beyond Markets: Critical Approaches to Economics

12 pages (3000 words) , Download 1
There are several differences of ideas amid these different schools of thought. Several economists such as Keynes, Marx and Schumpeter have described different approaches about their beliefs…
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1.What are the key issues in the external and competitive environment affecting your organisation Discuss the opportunities and threats for your organisation

4 pages (1000 words) , Download 1
Such models include Porter’s five forces model, and SWOT which we attempted to explain the external and competitive environments of Morrison Supermarkets. Analysis revealed the prevalence of…
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Final exam economics

3 pages (750 words) , Download 1
Classification criteria for economic systems include decision-making systems, mechanisms for information and coordination, incentive structures, property rights, mechanisms for public choices. -True
17. The concept of material balances formulated by soviet economists in the…
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Behavioral Finance in Books' Benoit Mandelbrot and Edgar Peters
8 pages (2000 words) , Download 1
This report discusses the subject of behavioral finance, which has an effect on markets operation in books Chaos and Order in the Capital Market by Edgar Peters and Fractals and scaling in finance by Benoit Mandelbrot. The discussion is based on fundamental economic models…
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I will post it down 13 question to be answerd in 5 pages
5 pages (1250 words) , Download 1
What theory of value represents your viewpoint? Where does value come from -through the process of exchange or through the production process? Do your views represent a mixed bag like Smith and Marshall?
The utility theory of value represents my viewpoint. This theory…
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Political Economy

2 pages (500 words) , Download 1
Free
In this essay,I am going to look at some of the major economic theories and their assumptions especially on the need and role of government action or involvement in the economy.This analysis is based on a review of the Australian car manufacturing industry.
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Economist
4 pages (1000 words) , Download 1
He was born of a devout Evangelical father who was a bank cashier by profession. Marshall grew up in the London suburb of Clapham and attended the Merchant Taylors School and St Johns College, Cambridge, where he…
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Economics: Principles, Problems, and Policies

5 pages (1250 words) , Download 1
Economics, in the simplest sense, can be defined as the "social science which studies human choice behavior and how it affects the production, distribution, and consumption of scarce resources" (Economics 1). Economics is the branch of science which takes an in-depth look at the how individuals satisfy their unlimited needs and wants through choices, incentives, and allocation of scarce resources…
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Theories of Exchange Rate Determination

11 pages (2750 words) , Download 3
A thorough knowledge of exchange rate models and the relevant techniques for applying them is not only important for multinational firms and their trade transactions but also for the Macroeconomic policies of Governments. This is because if these models are not properly applied and understood this can give birth to international currency risk which is only of the risks most international firms face in connection with foreign exchange rates.1The problem arises when future payments or remunerations payable in a foreign currency depreciate in value before the foreign currency payment is received and is exchanged into the local currency of the firm…
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Neo-Liberalism. How is it Related to Free Market Fundamentalism
10 pages (2500 words) , Download 1
Neo- Liberalism is a young economic and social theory (when compare with others) that promotes the idea of greater capitalism, with more government deregulation and privatization, free trade and shift to leaving the decision power with the market…
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Managerial Economics: Neoclassical Theory and Baumols model
6 pages (1843 words) , Download 1
The author of this paper examines the neoclassical theory, compares and contrasts the Neoclassical Theory and Baumol’s model focusing on their similarities and differences. The author of the paper also describes the firms with the Baumol Model Behavior. …
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Macro--economic
6 pages (1500 words) , Download 1
Topic: Unemployment and Inflation http://www.economist.com/economics/by-invitation/questions/whats_wrong_americas_labour_market The content should be Article Summar y Introduction MacroeconomicsAnalysis of macroeconomics with regard to housing situation in the US Aggregate demand curves Aggregate Supply Conclusion Reference At the page 6, 7,8 not intext reference , although they are from same author or same article , you also needs add the intext reference as more as you can And you need adds Aggregate demand and curve Aggregate Supply graph draw for you, not download from internet…
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Economics for Sustainability
8 pages (2000 words) , Download 1
This essay describes the economics for sustainability issue, that have a significant impact on the environment such as transport, energy, construction, industry and agriculture. The researcher focuses on the analysis of sustainable development progress…
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Pricing Strategy

9 pages (2250 words) , Download 4
Is pricing strategy and methodology usefful tools to increase profitability In this paper, we will briefly introduce the pricing process, methodologies and their impact on profitability. We will have a review on some of previous researchs and then we will propose some methos to be implemented in pricing process and will discuss how they impact on profitability.
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Classical political economists

6 pages (1500 words) , Download 1
You would need to explain the basic elements of dialectical materialism; why Marx considered this approach to be superior to other…
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Currency crisis
6 pages (1500 words) , Download 1
CURRENCY CRISIS Name: Institution: Part One The recent appointment of Mark Carney as the next Bank of England Governor for the subsequent five years has elicited several response. This is ascribed to the fact that several people had anticipated that Paul Tucker, the deputy governor was the one going to succeed Sir Mervyn King, the outgoing governor…
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