By Steve Ong | December 26, 2010 We all know that Adam Smith is know as the Father of Modern Economics because he was above all a system builder. He was a British political economist and philosopher. His woks can be described as being the foundations of economic theory. His collective books were included in The Wealth of… Read More »
By Dennis Moore Hopkins | July 24, 2010 Economics is a compelling force that has helped shaped countries and empires as far back as history records. Economic trends have had diverse effects which include triggering World War Two, the collapse of the Soviet Economy, the democratisation of South Korea and Japan and many others. The story of successful… Read More »
By Nicole Bobbin | October 23, 2009 STUDENT: Hello, Teacher. Yes, I know what’s coming up now! For several coming Modules you are going to lecture me about “Microeconomics”! And I also know that “Macroeconomics is the study of how the economy functions in broad outline”, because you lectured me on that one before. You have also told… Read More »
By Tyler Williamson | March 26, 2010 You don’t need to be an expert economist or have a degree in economics to understand the basic principles of economics that can be seen everywhere in everyday life. Think about what you know about economics right now, then do the same after you read this article. I daresay you’ll surprise… Read More »
By Karl Mitchell | February 27, 2008 In introduction, I will be expounding on the evolution of economic understanding and postwar stabilization policy from the perspective of Christina D. Romer (Professor, University of California at Berkeley) and David H. Romer (Professor, University of California at Berkeley) throughout the paper. In detail, I will cover the time periods of… Read More »
By Muhammad Waqas Nayyar | June 06, 2009 Many writers of the early days defined economics as “a science of wealth”. Adam Smith commonly know as the father of modern economics, defined economics as “An enquiry into the nature and causes of wealth of nations.” These definitions were defective because they gave much importance to wealth. As wealth… Read More »
By Joshua Konov | June 07, 2009 The philosophical comparison of social developments such as economy to the particle related quantum mechanics may look incidental or incoherent but conceptually said the human perception has changed from certainty and simplicity to uncertainty and complexity too, therefore the perception of principle understanding processes in economy philosophically must change too the… Read More »
By Steve Ong | July 07, 2010 Wherever we go, economics is everywhere all over the world and it can be located in all major continents around the globe. This begins in domestic up to global approach. In my own opinion, economics is a social science. There are several branches of economics to deal with and these… Read More »
By Dana Golden | January 10, 2009 When people spend money, someone is effected. If you spend one dollar or one million, spending of money creates cash flow, cash flow creates jobs. The economy is driven by the exchange of goods and services and the movement of money. Even money is a product, when credit is too… Read More »
By John F Sase | Submitted On April 18, 2015 “Our basis of knowledge for estimating the yield ten years hence of a railway, a copper mine, a textile factory… amounts to little and sometimes to nothing,” British Economist John Maynard Keynes wrote, “If people are so uncertain, how are decisions made? They can only be taken… Read More »