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Economics: Most Popular Articles

These articles are the most popular over the last month.
The Definitive Guide to Understanding Price...
Article gives a common-sense and easy to understand explanation of what price elasticity of demand is and how to calculate the price elasticity of demand
In Economics, What's the Difference Between...
Nominal vs. Real Question Answered: I'm learning economics and I keep hearing the terms nominal and real all the time to describe things like interes rates. What's the difference between nominal and real?
The Circular-Flow Model
This article describes the circular-flow model and explains how it shows the movement of money, goods and services, and factors of production in an economy.
Cross-Price Elasticity of Demand
Article gives a common-sense and easy to understand explanation of what the cross-price elasticity of demand is and how to calculate the cross-price elasticity of demand
Explaining 5 Types of Unemployment
This article outlines the different types of unemployment and explains how each one can arise in an economy.
Positive Versus Normative Analysis in Economics
This article explains the role of economics in public policy and explains the difference between positive and normative analysis.
What are Opportunity Costs?
: What are Opportunity Costs? : Unlike most costs discussed in economics, an opportunity cost is not
Microeconomics vs. Macroeconomics: What's the...
This article explains the distinction between microeconomics and macroeconomics.
Price Elasticity of Supply
Article gives a common-sense and easy to understand explanation of what price elasticity of supply is and how to calculate the price elasticity of supply.
Income Elasticity of Demand
Article gives a common-sense and easy to understand explanation of what income elasticity of demand is and how to calculate the income elasticity of demand.
What Is the Government's Role in the Economy?
A look at the role government plays in the economy.
Impact of Globalisation on Developing Countries...
Impact of Globalisation on Developing Countries and India
The Demand Curve
This article introduces the demand curve and discusses a few of its features.
What Is Economics?
Article for beginners answers the question What is Economics?
What Is the Business Cycle?
Article for beginners answers the question: What is the Business Cycle?
What Are The Three Types of Unemployment?
There are three types of unemployment. How do they differ?
Calculating and Understanding Real Interest Rates
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What Is Inflation?
An article on inflation for beginners which answers the question: What is Inflation?
Why Study Economics?
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Why Not Just Print More Money?
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Using Calculus To Calculate Price Elasticity of...
An article which explains how to calculate various elasticities using calculus.
The Production Possibilities Frontier
This article introduces the production possibilities frontier as a basic model of production tradeoffs and describes some of its notable features. Page 5.
Calculating Economic Equilibrium
This article shows how to find economic equilibrium using algebra. Page 2.
How Does Money Work?
Article for beginners answers the question: What Is Money? After reading the article, you will be able to give a quick and correct answer to the question 'What Is Money?'
What Do Economists Mean by Short and Long Run?
Article answers the question: I am undergoing an economics lecture at the undergraduate level and cannot understand the difference between
Increasing, Decreasing, and Constant Returns to...
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Absolute and Comparative Advantage
This article introduces the concepts of absolute advantage and comparative advantage and explains why they are relevant to understanding the gains from trade. Page 3.
The Production Function
This article introduces the economic production function, which relate the quantity of output to the amount of capital, labor, and other factors of production that a company uses.
Marginal Analysis
A look at the use of marginal analysis in economics. An article for students new to economics.
What Is Microeconomics?
Article for beginners answers the question: What Is Microeconomics?
What Are Tariffs and How Do They Effect the...
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How to Understand and Calculate Cost Measures
This article explains how to calculate marginal cost, total cost, fixed cost, total variable cost, average total cost, average fixed cost, and average variable cost using simple examples.
What Was The Gold Standard?
A look at what the gold standard was and how it differs from the fiat system of money today. A comparison of fiat money and the gold standard.
5 Tips to Help You Understand Utility in...
Marginal Utility is a concept introduced very early in microeconomics. But what exactly is marginal utility and how do we use it?
A Mixed Economy: The Role of the Market
A look at the mixed economy of the United States.
Five Economics Term Paper Topic Suggestions -...
Tips, links and sources for writing an economics term paper.
Economics - The A to Z List
Want to know the meaning of an economics term? Look no further than here!
A Beginner's Guide to Exchange Rates and the...
An introduction to what exchange rates are and what causes them to change.
Definition of Market
Market Defined - A Dictionary Definition of Market
Expansionary Monetary Policy vs. Contractionary...
I'm having a little trouble trying to understand expansionary monetary policies and contractionary monetary policies. Can you help explain what impact expansionary monetary policies and contractionary monetary policies have on the economy?
The Short Run Versus The Long Run
This article discusses the economic distinction between the short run and the long run.
The Determinants of Supply
This article outlines the different factors that affect the supply of a good or service.
What Is the Labor Force Participation Rate?
: What is the Labor Force Participation Rate? : The labor force participation rate is the percentage
What's the Difference Between a Recession and a...
How can I tell the difference between a recession and a depression? What is the definition of a recession? Of a depression? How can we tell when we're in a recession oe when we're going to get out of one?
What Is the GDP Deflator and Why Is it Used?
This article introduces the concept of the GDP deflator as a measure of aggregate price level and shows how it can be used to measure inflation.
A Beginner's Guide to Purchasing Power Parity...
A full overview of the PPP Theory in economics for beginners, explaining how it works and what the theory implies.
What does Economic Efficiency mean?
: What does Economic Efficiency mean? : Economic efficiency is a term typically used in microeconomics
10 Supply and Demand Practice Questions
10 practice supply and demand questions to help students study for tests.
The 3 Types of Money in an Economy
This article explains the different types of money than can arise in an economy.
Extreme Cases of Income Taxes' Effect on...
What effect do income taxes have on economic growth? Will lower income tax rates lead to higher growth, or will they just line the pockets of the rich?
What Are the Different Types of Taxes?
This article introduces different types of taxes and discusses some of the specific features of each. Page 3.
The Determinants of Demand
This article outlines all of the different factors than can affect economic demand for an item.
Will the World Ever Run Out of Oil?
For as long as I can remember, I've been hearing that the world oil supply will run out in a few decades. I remember quite vividly growing up in the early 1980's hearing that there wouldn't be any oil left by the time I learned how to drive. Fortunately the prediction of a depleted oil supply never came true.
Colonization of the United States
An examination of the colonization of the United States.
Helpful Tips to Ace that Econ Exam
How To Study For Your Economics Exam. Tips on how to study for your economics exam that is a few weeks away as well as tips on how to cram the night before, if necessary.
Why does money have value?
Find the answer to this week'’s economics question, “Why does money have value?” here. The value of money is not a topic people think about too often but it is quite vital in understanding economics.
Demand - The Economics of Demand
Demand - what do economists mean when they use the term demand? A common sense discussion on the economic concept of demand.
How Do Economists Define Supply?
Supply - what do economists mean when they use the term supply? A common sense discussion on the economic concept of supply.
How Do Economists Measure Unemployment?
This article explains how economists define unemployment.
Should Governments Legalize and Tax Marijuana?
The war on drugs is an expensive battle, as a great deal of resources go into catching those who buy or sell illegal drugs on the black market, prosecuting them in court, and housing them in jail. In a recent study for the Fraser Institute, Economist Stephen T. Easton attempted to calculate how much tax revenue the Canadian government could gain by legalizing marijuana.
What's a Free Market Economy?
Free Market Economy Defined - A Dictionary Definition of Free Market Economy
The Budget Constraint
This article introduces the concept of the budget constraints and describes some of its important features. Page 2.
The Post War Economy: 1945-1960
An examination of the American economy after World War II.
5 Arguments Against Free Trade
This article outlines the arguments that people make against free trade and explains the flaws in the reasoning of each of the arguments.
How Adam Smith Became the Founding Father of...
A short biography of Scottish economist Adam Smith.
Does Pure Capitalism Exist in the United States?
An examination of the capitalist economy of the United States.
Supply and Demand Equilibrium
This article shows how supply and demand come together to determine prices and quantities in a market.
What are Cost-Push Inflation and Demand-Pull...
We Answer The Question: What do the terms
Would a Gasoline Tax Cause People to Buy Less...
price elasticity of demand, gasoline
Are Wars Good for the Economy?
The standard argument goes as follows: Let's suppose that the economy is in the low end of the business cycle, so we're in a recession or just a period of low economic growth.
Definition of Externality
Externality Defined - A Dictionary Definition of Externality
Regulation and Control in the U.S. Economy
A look at the use of regulation and control in the U.S. economy.
Definition of Natural Increase
Natural Increase Defined - A Dictionary Definition of Natural Increase
A Beginner's Guide to Economic Indicators
I'm constantly hearing about economic indicators in the news, but I'm never sure what they're talking about. What are economic indicators and why are they important?
Government Involvement in the American Economy
An examination of the role governments have played in economic growth.
Definition of Gross National Product (GNP)
Gross National Product (GNP) Defined - A Dictionary Definition of Gross National Product (GNP)
What Is Arbitrage?
Article answers the following question: What is arbitrage? What markets do arbitrageurs usually trade on? The answers to your arbitrage questions right here.
Definition of Budget Line
Budget Line Defined - A Dictionary Definition of Budget Line
Calculating Gross Domestic Product Using Value...
This article shows how to calculate Gross Domestic Product using the value added at each stage of production.
The Coase Theorem
This article gives an overview of the Coase Theorem.
What Is a Foreign Direct Investment?
FDI / Foreign Direct Investment Defined - A Dictionary Definition of FDI / Foreign Direct Investment
The Advantages of Calculating Arc Elasticity
Article gives a common-sense and easy to understand explanation of what arc elasticity is and how to calculate arc elasticity
Marginal Revenue and the Demand Curve
This article explains the relationship between the marginal revenue curve and the demand curve.
The Expenditure Categories of Gross Domestic...
This article outlines the different expenditure categories that are added up to calculate Gross Domestic Product.
Budget Lines and Indifference Curves
Article examines how to use and calculate budget lines and how they relate to indifference curves.
How Does the US Balance Government and Free...
An examination of the U.S. government's role in the economy.
What Is a Monopoly?
This article explains what a monopoly is and how markets can give rise to monopolies.
Economics - The Basic Assumptions
This article discusses the basic assumptions of any Economics 101 or 'Economics Principles' course.
Definition of Barter Economy
Barter Economy Defined - A Dictionary Definition of Barter Economy.
What Is Deflation and How Can it Be Prevented?
Deflation and Printing Money: Is the problem that there is more to printing money than printing money? Is in fact the way printed money gets into circulation, that the fed buys bonds, and thus get money into the economy? When the government prints money it causes inflation. Would printing more money cure deflation?
5 Strategies Corporations Use to Raise Capital
An examination of how capital is raised by corporations.
The Gini Coefficient
This article introduces the Gini coefficient as a numerical measure of income inequality.
The Importance of the Supply and Demand Model
This article introduces the supply and demand model.
Definition of Law of Demand
Law of Demand Defined - A Dictionary Definition of Law of Demand.
Real Exchange Rates
This article gives an overview of what real exchange rates are and how they are used.
Why Is Economics Called the Dismal Science?
This article explains the background of how economics came to be known as the dismal science.
What Is a Commodity?
Article answers the question. Economics.
Practice Constructing an Indifference Curve
Article examines how a student can construct an indifference curve.
Definition of Cobb-Douglas Production Function
Cobb-Douglas Production Function Defined - A Dictionary Definition of Cobb-Douglas Production Function
Definition of The Double Coincidence of Wants
The Double Coincidence of Wants Defined - A Dictionary Definition of The Double Coincidence of Wants
The Relationship Between Average and Marginal...
This article outlines the relationship between average cost and marginal cost and shows intuitively why this relationship holds.
Elasticity Versus the Slopes of the Demand and...
This article explains the relationship between elasticity and the slopes of the demand and supply curves.
Money
Money Defined - A Dictionary Definition of Money
What Are Interest Rates?
Article for beginners answers the question: What are Interest Rates?
The Economy in the 1980s
An examination of the state of the American economy during the 1980s.
Definition of Constant Returns to Scale
Constant Returns to Scale Defined - A Dictionary Definition of Constant Returns to Scale
What Is an Externality? Learn the 4 Possibilities
This article introduces the concept of externalities, or market side effects, and explains how they can arise in a market.
What Is Capital?
Capital Defined - A Dictionary Definition of Capital
Giffen Goods
This article introduces the concept of a Giffen good and explains how Giffen goods can occur.
What Determines an Exchange Rate
A discussion for beginners that examines what determines an exchange rate or the value of a currency. Why do currencies go up and down?
More Factors Which Influence the Demand for Money
This question answers the questions: What is the demand for money? Does that change? The other three elements all make perfect sense to me but demand for money is confusing me to no end. Page 2.
What does the value of the Dow Jones represent?
What does the value of the Dow Jones represent?
What Are the 5 Elements of a Ponzi Scheme?
An article aimed at beginners that answers the questions
What Does the Economic Term Dumping Mean?
Dumping Defined - A Dictionary Definition of Dumping
Shifting the Demand Curve
This article explains when and how to shift a demand curve.
Understand the Economics of Supply and Demand
The basics of Supply and Demand. Economics.
Definition of Demand
Demand Defined - A Dictionary Definition of Demand
Understand the Major Types of Elasticity
Article gives a common-sense and easy to understand explanation of what elasticity is and how to calculate the elasticities
Utility
Utility Defined - A Dictionary Definition of Utility
How to Use and Interpret Indifference Curves
Article examines the economic concept of indifference curves and shows students how they can use indifference curves to solve economic problems.
Small Business in the United States
A discussion of American small business.
Price Elasticity - How to Use Cross Price and...
How to use measures of cross price and own price elasticity to determine how much a quantity will change. An example of a calculation.
Pro Forma
Pro Forma Defined - A Dictionary Definition of Pro Forma
Marginal Revenue and Marginal Cost Practice...
In this article we go through 5 questions on marginal revenues and marginal costs to illustrate how a student should answer these questions.
P-value - Dictionary definition of P-value
P-value is associated with a test statistic. Learn more about p-values and its relation to economics.
Definition of GDP / Gross Domestic Product
GDP / Gross Domestic Product Defined - A Dictionary Definition of GDP / Gross Domestic Product
Cyclical Unemployment
Cyclical Unemployment Defined - A Dictionary Definition of Cyclical Unemployment
Insider Trading
Insider Trading: What did Martha Do? is a brief look at insider trading and why many forms of insider trading are illegal.
From Real to Prime, Understand the Different...
What's the Difference Between all the Interest Rates in the Newspaper?
What Effects Does Monetary Policy Have?
I'm having a little trouble trying to understand expansionary monetary policies and contractionary monetary policies. Can you help explain what impact expansionary monetary policies and contractionary monetary policies have on the economy. Page 2.
The Quantity Theory of Money
This article introduces the quantity theory of money and discusses various critiques of the theory.
Is a PhD in Economics Right for You?
Mike Moffatt examines a couple of blog discussions about who should consider attempting a Ph.D. in economics.
What Is Behavioral Economics?
This article gives an introduction to the field of behavioral economics.
What Is the Discount Factor?
Discount Factor Defined - A Dictionary Definition of Discount Factor
What Is a Country's Current Account Balance?
Current Account Balance Defined - A Dictionary Definition of Current Account Balance
Will Marijuana's Legalization Increase Demand?
Would Marijuana Legalization Increase the Demand for Marijuana?
What Is Econometrics?
Article for beginners answers the question: What Is Econometrics?
Cost Function
Cost Function Defined - A Dictionary Definition of Cost Function
Looking at the New Frontier and the Great...
An examination of the American economy during the 1960s and 1970s.
Introduction to Monopolistic Competition
This article gives an overview of the features of a monopolistically competitive market.
The Relationship Between Revenue and Price...
This article explains the relationship between a firm's revenue and the price elasticity of demand that it faces.
Changes in Equilibrium with Multiple Curve Shifts
This article performs comparative statics, or analysis of changes in market equilibrium, when multiple factors affect supply and demand in a market.
Can You Beat the Stock Market? Find Out What...
This article introduces the concept of the efficient markets hypothesis.
What Is the Demand For Money?
This question answers the questions: What is the demand for money? Does that change? The other three elements all make perfect sense to me but demand for money is confusing me to no end.
Definition of Absolute Advantage
Absolute Advantage Defined - A Dictionary Definition of Absolute Advantage
How Has Farming Influenced America's Economy?
A look at the impact agriculture has on the American economy.
Definition of Industrialization
Industrialization Defined - A Dictionary Definition of Industrialization
Returns to Scale
This article explains what is meant by the concept returns to scale and outlines when companies exhibit increasing, decreasing, and constant returns to scale.
Unemployment
Unemployment Defined - A Dictionary Definition of Unemployment
A short biography of John Maynard Keynes
A short biography of John Maynard Keynes
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