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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?
Explaining 5 Types of Unemployment
This article outlines the different types of unemployment and explains how each one can arise in an economy.
Why Not Just Print More Money?
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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.
What Are The Three Types of Unemployment?
There are three types of unemployment. How do they differ?
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 Economics?
Article for beginners answers the question What is Economics?
Why Study Economics?
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Impact of Globalisation on Developing Countries...
Impact of Globalisation on Developing Countries and India
What Is Inflation?
An article on inflation for beginners which answers the question: What is Inflation?
Microeconomics Versus Macroeconomics
This article explains the distinction between microeconomics and macroeconomics.
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 Is the Labor Force Participation Rate?
: What is the Labor Force Participation Rate? : The labor force participation rate is the percentage
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?
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
What Is Macroeconomics?
Article for beginners answers the question: What Is Macroeconomics?
What Is the Business Cycle?
Article for beginners answers the question: What is the Business Cycle?
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.
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 Are Tariffs and How Do They Effect the...
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What Is the Government's Role in the Economy?
A look at the role government plays in the economy.
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 Microeconomics?
Article for beginners answers the question: What Is Microeconomics?
A Beginner's Guide to Exchange Rates and the...
An introduction to what exchange rates are and what causes them to change.
What are Opportunity Costs?
: What are Opportunity Costs? : Unlike most costs discussed in economics, an opportunity cost is not
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 Cost-Push Inflation and Demand-Pull...
We Answer The Question: What do the terms
The Short Run Versus The Long Run
This article discusses the economic distinction between the short run and the long run.
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.
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.
Economics - The A to Z List
Want to know the meaning of an economics term? Look no further than here!
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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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.
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 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.
Increasing, Decreasing, and Constant Returns to...
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How Do Economists Measure Unemployment?
This article explains how economists define unemployment.
The 3 Types of Money in an Economy
This article explains the different types of money than can arise in an economy.
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?
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.
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.
Using Calculus To Calculate Price Elasticity of...
An article which explains how to calculate various elasticities using calculus.
The Determinants of Supply
This article outlines the different factors that affect the supply of a good or service.
The Determinants of Demand
This article outlines all of the different factors than can affect economic demand for an item.
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 does the value of the Dow Jones represent?
What does the value of the Dow Jones represent?
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 Post War Economy: 1945-1960
An examination of the American economy after World War II.
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?
5 Strategies Corporations Use to Raise Capital
An examination of how capital is raised by corporations.
Five Economics Term Paper Topic Suggestions -...
Tips, links and sources for writing an economics term paper.
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.
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.
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.
Definition of Market
Market Defined - A Dictionary Definition of Market
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 Economic Efficiency mean?
: What does Economic Efficiency mean? : Economic efficiency is a term typically used in microeconomics
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?
10 Supply and Demand Practice Questions
10 practice supply and demand questions to help students study for tests.
Definition of Externality
Externality Defined - A Dictionary Definition of Externality
The Federal Reserve System
This article explains what the Federal Reserve is and what function it serves in the economy.
Regulation and Control in the U.S. Economy
A look at the use of regulation and control in the U.S. economy.
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
Pro Forma
Pro Forma Defined - A Dictionary Definition of Pro Forma
What's a Free Market Economy?
Free Market Economy Defined - A Dictionary Definition of Free Market Economy
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 Are the 5 Elements of a Ponzi Scheme?
An article aimed at beginners that answers the questions
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 Demand Curve
This article introduces the demand curve and discusses a few of its features.
Definition of Budget Line
Budget Line Defined - A Dictionary Definition of Budget Line
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.
What Is a Monopoly?
This article explains what a monopoly is and how markets can give rise to monopolies.
Marginal Analysis
A look at the use of marginal analysis in economics. An article for students new to economics.
A Mixed Economy: The Role of the Market
A look at the mixed economy of the United States.
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.
Supply and Demand Equilibrium
This article shows how supply and demand come together to determine prices and quantities in a market.
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?
Definition of Gross National Product (GNP)
Gross National Product (GNP) Defined - A Dictionary Definition of Gross National Product (GNP)
Calculating Economic Equilibrium
This article shows how to find economic equilibrium using algebra.
Real Exchange Rates
This article gives an overview of what real exchange rates are and how they are used.
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.
Small Business in the United States
A discussion of American small business.
Does Pure Capitalism Exist in the United States?
An examination of the capitalist economy of the United States.
Would a Gasoline Tax Cause People to Buy Less...
price elasticity of demand, gasoline
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.
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.
How Adam Smith Became the Founding Father of...
A short biography of Scottish economist Adam Smith.
What Are Interest Rates?
Article for beginners answers the question: What are Interest Rates?
Definition of Law of Demand
Law of Demand Defined - A Dictionary Definition of Law of Demand.
The Coase Theorem
This article gives an overview of the Coase Theorem.
Colonization of the United States
An examination of the colonization of the United States.
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 a Foreign Direct Investment?
FDI / Foreign Direct Investment Defined - A Dictionary Definition of FDI / Foreign Direct Investment
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 Bretton Woods System: Tying World Currency...
An examination of the Bretton Woods system.
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.
What Is Econometrics?
Article for beginners answers the question: What Is Econometrics?
What Is a Commodity?
Article answers the question. Economics.
Marginal Revenue and the Demand Curve
This article explains the relationship between the marginal revenue curve and the demand curve.
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).
Cyclical Unemployment
Cyclical Unemployment Defined - A Dictionary Definition of Cyclical Unemployment
What Is a Country's Current Account Balance?
Current Account Balance Defined - A Dictionary Definition of Current Account Balance
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.
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.
The Slope of the Aggregate Demand Curve
This article explains why the aggregate demand curve slopes downwards.
How Are Stock Market Prices Set?
An examination of how stock prices are determined.
The Expenditure Categories of Gross Domestic...
This article outlines the different expenditure categories that are added up to calculate Gross Domestic Product.
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
Would 0% Unemployment Be a Good Thing?
[A:] Thanks for the great question! While on the surface it appears that a 0% unemployment rate would
Understand the Economics of Supply and Demand
The basics of Supply and Demand. Economics.
The Economy in the 1980s
An examination of the state of the American economy during the 1980s.
What Is the Discount Factor?
Discount Factor Defined - A Dictionary Definition of Discount Factor
Budget Lines and Indifference Curves
Article examines how to use and calculate budget lines and how they relate to indifference curves.
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.
Definition of Demand
Demand Defined - A Dictionary Definition of Demand
Introduction to Monopolistic Competition
This article gives an overview of the features of a monopolistically competitive market.
Utility
Utility Defined - A Dictionary Definition of Utility
10 Economics Blogs You Should Read
We all know about economics bloggers such as Greg Mankiw, Brad De Long, and the folks at Marginal Revolution. In this article we look at economics blogs you may not be familar with - but should be!
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
Can You Beat the Stock Market? Find Out What...
This article introduces the concept of the efficient markets hypothesis.
From Real to Prime, Understand the Different...
What's the Difference Between all the Interest Rates in the Newspaper?
Definition of Cobb-Douglas Production Function
Cobb-Douglas Production Function Defined - A Dictionary Definition of Cobb-Douglas Production Function
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.
Giffen Goods
This article introduces the concept of a Giffen good and explains how Giffen goods can occur.
Money
Money Defined - A Dictionary Definition of Money
Introduction to Exchange Rates
This article introduces the concept of exchange rates and foreign exchange and explains the distinction between nominal and real exchange rates. Page 3.
How Do You Measure the Size of the Economy?
A discussion on how we measure how big the economy is and how it is performing.
What Is Behavioral Economics?
This article gives an introduction to the field of behavioral economics.
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.
Definition of Bond
Bond Defined - A Dictionary Definition of Bond
Some Important 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? Page 2.
Unemployment
Unemployment Defined - A Dictionary Definition of Unemployment
Definition of Monopsony
Monopsony Defined - A Dictionary Definition of Monopsony
The Importance of the Supply and Demand Model
This article introduces the supply and demand model.
Interpreting the Price/Earnings Ratio
An explanation of what the price/earnings ratio is (the P/E ratio) and why it's important.
What Does the Economic Term Dumping Mean?
Dumping Defined - A Dictionary Definition of Dumping
Definition of Constant Returns to Scale
Constant Returns to Scale Defined - A Dictionary Definition of Constant Returns to Scale
Hypothesis Testing Using One-Sample t-Tests
You've got your regression results, but what do you do with them? Here we show how to conduct a one-sample t-test. Page 2.
The Quantity Theory of Money
This article introduces the quantity theory of money and discusses various critiques of the theory.
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 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.
Economics Glossary
Want to know the meaning of an economics term? Look no further than here!
Definition of GDP / Gross Domestic Product
GDP / Gross Domestic Product Defined - A Dictionary Definition of GDP / Gross Domestic Product
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.
Why Do Employers Set Wages Higher Than the...
This article defines the efficiency-wage theory and explains why efficiency wages might exist in practice.
Government Involvement in the American Economy
An examination of the role governments have played in economic growth.
Definition of The Double Coincidence of Wants
The Double Coincidence of Wants Defined - A Dictionary Definition of The Double Coincidence of Wants
Why Is Economics Called the Dismal Science?
This article explains the background of how economics came to be known as the dismal science.
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