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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
Explaining 5 Types of Unemployment
This article outlines the different types of unemployment and explains how each one can arise in an economy.
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 Short Run Versus The Long Run
This article discusses the economic distinction between the short run and the long run.
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?
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
What Is the Government's Role in the Economy?
A look at the role government plays in the economy.
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.
Increasing, Decreasing, and Constant Returns to...
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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.
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.
What Is the Business Cycle?
Article for beginners answers the question: What is the Business Cycle?
Real Exchange Rates
This article gives an overview of what real exchange rates are and how they are used.
Why Not Just Print More Money?
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What Are The Three Types of Unemployment?
There are three types of unemployment. How do they differ?
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.
Using Calculus To Calculate Price Elasticity of...
An article which explains how to calculate various elasticities using calculus.
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.
The Coase Theorem
This article gives an overview of the Coase Theorem.
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
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.
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.
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?'
A Beginner's Guide to Exchange Rates and the...
An introduction to what exchange rates are and what causes them to change.
What Is Inflation?
An article on inflation for beginners which answers the question: What is Inflation?
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.
What Are Tariffs and How Do They Effect the...
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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.
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.
The Post War Economy: 1945-1960
An examination of the American economy after World War II.
The Determinants of Supply
This article outlines the different factors that affect the supply of a good or service.
The 3 Types of Money in an Economy
This article explains the different types of money than can arise in an economy.
Impact of Globalisation on Developing Countries...
Impact of Globalisation on Developing Countries and India
What are Opportunity Costs?
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What Are the 5 Elements of a Ponzi Scheme?
An article aimed at beginners that answers the questions
Marginal Revenue and the Demand Curve
This article explains the relationship between the marginal revenue curve and the demand curve. Page 3.
What are Cost-Push Inflation and Demand-Pull...
We Answer The Question: What do the terms
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?
Why Study Economics?
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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?
The Relationship Between Average and Marginal...
This article outlines the relationship between average cost and marginal cost and shows intuitively why this relationship holds. Page 5.
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.
Calculating and Understanding Real Interest Rates
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Definition of Constant Returns to Scale
Constant Returns to Scale Defined - A Dictionary Definition of Constant Returns to Scale
What Is Economics?
Article for beginners answers the question What is Economics?
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.
How Do Economists Measure Unemployment?
This article explains how economists define unemployment.
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.
The Demand Curve
This article introduces the demand curve and discusses a few of its features.
The Determinants of Demand
This article outlines all of the different factors than can affect economic demand for an item.
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.
What does the value of the Dow Jones represent?
What does the value of the Dow Jones represent?
Economics - The A to Z List
Want to know the meaning of an economics term? Look no further than here!
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.
The Federal Reserve System
This article explains what the Federal Reserve is and what function it serves in the economy.
Definition of Externality
Externality Defined - A Dictionary Definition of Externality
What Is the Labor Force Participation Rate?
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5 Strategies Corporations Use to Raise Capital
An examination of how capital is raised by corporations.
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.
A Beginner's Guide to the Reserve Ratio
A Beginner's Guide to the Reserve Ratio looks at the impact the reserve ratio has on the money supply
A Mixed Economy: The Role of the Market
A look at the mixed economy of the United States.
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?
The Gini Coefficient
This article introduces the Gini coefficient as a numerical measure of income inequality.
The Economy in the 1980s
An examination of the state of the American economy during the 1980s.
Regulation and Control in the U.S. Economy
A look at the use of regulation and control in the U.S. economy.
Definition of Budget Line
Budget Line Defined - A Dictionary Definition of Budget Line
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.
Five Economics Term Paper Topic Suggestions -...
Tips, links and sources for writing an economics term paper.
Does Pure Capitalism Exist in the United States?
An examination of the capitalist economy of the United States.
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?
What Is Microeconomics?
Article for beginners answers the question: What Is Microeconomics?
What does Economic Efficiency mean?
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Definition of Market
Market Defined - A Dictionary Definition of Market
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.
10 Supply and Demand Practice Questions
10 practice supply and demand questions to help students study for tests.
Why Do Oil Prices and the Canadian Dollar Move...
Article answers the question:. Economics.
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.
The Bretton Woods System: Tying World Currency...
An examination of the Bretton Woods system.
Definition of The Double Coincidence of Wants
The Double Coincidence of Wants Defined - A Dictionary Definition of The Double Coincidence of Wants
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.
The Budget Constraint
This article introduces the concept of the budget constraints and describes some of its important features. Page 2.
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.
Definition of Barter Economy
Barter Economy Defined - A Dictionary Definition of Barter Economy.
Would a Gasoline Tax Cause People to Buy Less...
price elasticity of demand, gasoline
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?
The Quantity Theory of Money
This article introduces the quantity theory of money and discusses various critiques of the theory.
What's a Free Market Economy?
Free Market Economy Defined - A Dictionary Definition of Free Market Economy
Government Involvement in the American Economy
An examination of the role governments have played in economic growth.
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.
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.
Analysis of a Subsidy
This article explains the effect that a subsidy has on market price and quantity as well as on the economic well-being of consumers, producers, and society overall. Page 10.
Money
Money Defined - A Dictionary Definition of Money
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.
How Adam Smith Became the Founding Father of...
A short biography of Scottish economist Adam Smith.
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
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.
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?
Marginal Analysis
A look at the use of marginal analysis in economics. An article for students new to economics.
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.
What Is the Difference Between Relative PPP and...
Relative PPP vs. Absolute PPP. Definitions and descriptions. What Is the Difference Between Relative PPP and Absolute PPP?
The Expenditure Categories of Gross Domestic...
This article outlines the different expenditure categories that are added up to calculate Gross Domestic Product.
The Importance of the Supply and Demand Model
This article introduces the supply and demand model.
Are Credit Cards A Form Of Money?
Are credit cards are a from of money? An interesting and unusual question about! Let's take a look at what is considered to be money and where credit cards fit in.
What Are Interest Rates?
Article for beginners answers the question: What are Interest Rates?
Why Are Tariffs Preferable to Quotas?
In this article we look at why tariffs are often preferred to import quotas. There's a few reasons why tariffs are more desirable than quotas.
Budget Lines and Indifference Curves
Article examines how to use and calculate budget lines and how they relate to indifference curves.
Purchasing Power Parity: Link Between Exchange...
An article that shows how inflation and the exchange rate between two countries are linked through Purchasing Power Parity (PPP).
Calculating Gross Domestic Product Using Value...
This article shows how to calculate Gross Domestic Product using the value added at each stage of production.
What Is a Commodity?
Article answers the question. Economics.
Giffen Goods
This article introduces the concept of a Giffen good and explains how Giffen goods can occur.
The Beveridge Curve
This article explains what the Beveridge curve is and shows what factors change the curve.
Calculating Economic Equilibrium
This article shows how to find economic equilibrium using algebra.
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.
Gold Standard vs. Fiat Money
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. Page 2.
What Is the Discount Factor?
Discount Factor Defined - A Dictionary Definition of Discount Factor
The Lorenz Curve
This article introduces the Lorenz curve as one way to measure income equality and shows how the curve is constructed.
The Effects of a Black Market Using Supply and...
We show through supply and demand analysis what happens when a black market is created.
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.
Why Is Economics Called the Dismal Science?
This article explains the background of how economics came to be known as the dismal science.
Economics - The Basic Assumptions
This article discusses the basic assumptions of any Economics 101 or 'Economics Principles' course.
What Does the Economic Term Dumping Mean?
Dumping Defined - A Dictionary Definition of Dumping
Economic Growth and the Rule of 70
This article explains what the rule of 70 is and discusses how it is relevant to studying economic growth.
What You Need to Know About Monopolies and...
Article examines monopolies and companies in monopoly markets, and compares monopoly to oligopoly, monopolistic competition, and perfect competition.
What Is Money?
This article outlines the characteristics of money and explains the economic difference between money and wealth.
Definition of Bond
Bond Defined - A Dictionary Definition of Bond
Stagflation in the 1970s
An examination of stagflation in the American economy during the 1970s.
Definition of Natural Increase
Natural Increase Defined - A Dictionary Definition of Natural Increase
Definition of Gross National Product (GNP)
Gross National Product (GNP) Defined - A Dictionary Definition of Gross National Product (GNP)
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
Supply and Demand Equilibrium
This article shows how supply and demand come together to determine prices and quantities in a market.
Would 0% Unemployment Be a Good Thing?
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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. Page 2.
Definition of Network Externalities
Network Externalities Defined - A Dictionary Definition of Network Externalities
Nominal Interest Rates and Money Supply and...
This article explains how money supply and money demand come together to determine nominal interest rates in an economy.
The Slope of the Aggregate Demand Curve
This article explains why the aggregate demand curve slopes downwards.
Proportional Representation vs. First-Past-The-...
An examination of the advantages of using a Proportional Representation (PR) voting system over the first-past-the-post method used in countries such as the United States and Canada.
Definition of Law of Demand
Law of Demand Defined - A Dictionary Definition of Law of Demand.
Why Don't Prices Decline During A Recession?
When there is an economic expansion, demand seems to outpace supply, particularly for goods and services that take time and major capital to increase supply. As a result, prices generally rise (or there is at least price pressure). We look at why deflation does generally not occur during a recession.
Looking at the New Frontier and the Great...
An examination of the American economy during the 1960s and 1970s.
Colonization of the United States
An examination of the colonization of the United States.
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.
Books to Study Before Going to Graduate School...
Reading recommendations for a student entering graduate school in economics. These will help prepare you for classes you will likely take. Page 2.
Definition of Cobb-Douglas Production Function
Cobb-Douglas Production Function Defined - A Dictionary Definition of Cobb-Douglas Production Function
Cost Minimization
This article introduces a basic rule that can be used by firms to figure out what mix of labor and capital produces output at lowest cost. Page 3.
The Baby Boom and the Future of the Economy
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Can You Beat the Stock Market? Find Out What...
This article introduces the concept of the efficient markets hypothesis.
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