INTRODUCTION The Keynesian School of economic thought, was developed in the 1930s by the British economist John Maynard Keynes to understand the Great Depression. The scale of Keynesian theory span across the Atlantic in the post war decades, after its adoption in war-time Britain for macroeconomic management. Comprised of various macroeconomic theories, such as how … Continue reading Would Keynesian policies be a more viable method to deal with the economic crisis?
Article retrieved from: http://www.econlib.org/library/Mackay/macEx3.html Chapter 3- provides background on the introduction of the tulip bulb: Introduced into Western Europe around the middle of the sixteenth century. Conrad Gesner claimed to have originally seen the tulip in 1559 Augsburg. The tulip belonged to Councellor Herwart, a famous man who collected rare exotics. Tulips were sought after … Continue reading Memoirs of Extraordinary Popular Delusions and the Madness of Crowds, Mackay Charles (1814-1889)
Book Review: Meltdown written by Thomas E. Woods, Jr. Contents 1.0 Introduction 2.0 Summary 2.1 Chapter one: The Elephant in the Living Room 2.2 Chapter two: How Government Created the Housing Bubble 2.3 Chapter three: The Great Wall Street Bailout 2.4 Chapter four: How Government Causes the Boom-Bust Business Cycle 2.5 Chapter five: Great … Continue reading Book Review: Meltdown by Thomas E. Woods
Students For Liberty Notre Dame Sydney seeks to promote the ideas of individual rights, private property, and peace. The objects of the club are (i) to educate more students about the differing philosophies that underlie liberty and the many ways to promote liberty (ii) connect members to the growing network of pro-liberty students and other … Continue reading My Students For Liberty Club
For Keynesian policies to be a more viable method to deal with the economic crisis, it would have to stop associating within society in the short-run, and rather focus on the individuals that make up society in the long-run. While, the term ‘society’ is inefficient to be used in the context of economics, due to … Continue reading Are Keynesian policies a more viable method to deal with the economic crisis?
Question: Explain the significance and utility of your major to the society 10 years from now. An economics major teaches a student two key principles, first that the future is uncertain and second that values are subjective. This paper will briefly explain the significance and utility of an economics major, attempting to demonstrate that whilst … Continue reading The Significance and Utility of an Economics Major
TOTAL REVENUE, TOTAL COST & PROFIT Total revenue is a firm’s return from sale of output. Total cost is the amount paid for inputs used to make outputs. Profits are total revenue minus total cost, TR – TC. The economic goal of a firm is to maximise profit. COSTS AS OPPORTUNITY COSTS Production costs equal … Continue reading Microeconomics – The Costs of Production