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A series of essays and papers analysing questions about how (and whether) models and theories in economics are empirically verified and the current status of positivism in economics. Morishima, Michio (1976), The Economic Theory of Modern Society , New York: Cambridge University Press, ISBN 0-521-21088-7 .
Nicholas Kaldor in his essay titled A Model of Economic Growth, originally published in Economic Journal in 1957, postulates a growth model, which follows the Harrodian dynamic approach and the Keynesian techniques of analysis.
In a later book, Essays in the theory of Economic Growth, [2] [3] she tried to lower the degree of abstraction. Robinson presented her growth model in verbal terms. A mathematical formalization was later provided by Kenneth K. Kurihara. Assumptions: [4] There is a laissez-faire closed economy. The factors of production are capital and labour only.
The Solow–Swan model or exogenous growth model is an economic model of long-run economic growth. It attempts to explain long-run economic growth by looking at capital accumulation , labor or population growth , and increases in productivity largely driven by technological progress.
"Using the circular flow of income model to teach economics in the middle school classroom." The Social Studies 100.5 (2009): 233–242. Lloyd A. Metzler. “Three Lags in the Circular Flow of Income”, in: Income, Employment and Public; essays in honor of Alvin H. Hansen, Lloyd A Metzler; New York, W.W. Norton [1948]. pp. 11–32; Antoin E ...
Illustration of the original visualisation of the Tableau by Quesnay, 1759.. The Tableau économique (French pronunciation: [tablo ekɔnɔmik]) or Economic Table is an economic model first described by French economist François Quesnay in 1758, which laid the foundation of the physiocratic school of economics.
The central planning board (CPB) has three major functions in the Lange model: First it instructs firms to set price to equal marginal cost, secondly it adjusts prices to attain market-clearing prices for goods and services, and finally, it reinvests the economic profit derived from state enterprises into the economy based on a target rate of ...
A macroeconomic model is an analytical tool designed to describe the operation of the problems of economy of a country or a region. These models are usually designed to examine the comparative statics and dynamics of aggregate quantities such as the total amount of goods and services produced, total income earned, the level of employment of productive resources, and the level of prices.