Economics

Anyone who watches the news is sure to have heard about the World Bank, but there may be some uncertainty...

There are many different groups around the world who would love to see a steady state economy. This ambition is...

Diminishing returns is probably one of the most important concepts in Economic theory. It is so famous that it has...

An important idea in economic theory is economies of scale. If it wasn't for the existence of this phenomena it...

Anyone who saw the award winning film "A Beautiful Mind" will probably have heard of "game theory". This film was...

Those who listen to the financial news may have heard the term 'Keynesian economics' floated around. There may be some...

Yesterday, In Part 1 we discussed economics terminology as it relates to your household budget. Today, let's create a real...

Instead of giving you a definition of economics, I'm going to give you an example that works on a microeconomic...

Whenever people start talking about economics, something in the air changes. For most of us, the air becomes filled with...

The concept of staggered contracting revolves around one primary topic: price. At a glance, staggered contracting seems like something only...

In any economy, one thing is certain: the beginner investor is alive and well. In boom economies, this investor is...

John Maynard Keynes called gold "the barbarous relic". Now, long after Keynes' school of economics became unfashionable, gold is once...

Quantitative Easing is essentially the creation of money. As we live in a digital age, the money is not even...

Visualizing Economics: How can you measure a nation's wealth? How much do you earn? How rich is the United States?...

Gross Rent: Gross Rent refers to the rent paid for the services of land and the capital invested on it....

With supply staying still and demand increasing (right shifting), both the price and quantity supplied are elevated. This is one...

Heat Map of Worldwide GDP Real Growth Rate 2007 Data source: 2007 CIA World Fact Book

Heat Map of Worldwide GDP (PPP) Per Capita 2008 Data source: 2008 CIA World Fact Book

Law of Diminishing Marginal Utility Q - quantity of good TU - total utility MU - marginal utility (ΔTU) Author:...

From a macroeconomic perspective, households, government and firms (corporations) are the 3 fundamental players of money and resources. This flowchart...