The income expenditure model. The multiplier in the simple economy

2020 ◽  
Author(s):  
Javier Sánchez-Rivas García ◽  
María del Pópulo Pablo-Romero Gil-Delgado ◽  
Alfonso Expósito García ◽  
Palma Gómez-Calero Valdés ◽  
María del Pilar Espinosa Goded
Keyword(s):  
Political Economy ◽  
Economic Analysis

Didactic animation that explains the income-expenditure model and how the multiplier in a simple economy is obtained, as well as the necessary graphics to show the aforementioned model. Department of Economic Analysis and Political Economy.

scholarly journals Economic Analysis of International Interaction: International Economics and International Political Economy

2013 ◽  
pp. 102-112
Author(s):  
A. G. Оleinov
Keyword(s):  
Political Economy ◽  
Economic Analysis ◽  
International Economics ◽  
International Political Economy ◽  
International Interaction

The article focuses on two major fields of economic analysis of international interaction: international economics and international political economy. Each of the areas is considered through its formal methodological foundations. An attempt to formulate a general theoretical and methodological foundations of economic analysis of international interaction is made.

The Role of Numeracy in the History of Economic Analysis

1994 ◽  
Vol 16 (2) ◽  
pp. 188-201 ◽  
Author(s):  
Ingrid H. Rima
Keyword(s):  
Political Economy ◽  
Seventeenth Century ◽  
Economic Analysis ◽  
Historical Perspective ◽  
Qualitative Approach ◽  
Popular View ◽  
History Of

The popular view among many contemporary economists is that our predecessors were literate but not numerate. Their myopia is curious to those who have the benefit of greater historical perspective. Many early practitioners of political economy can be credited with recognizing that, by their very nature, the problems in which they were interested required them to measure, quantify and enumerate. From the seventeenth century onwards, inquiring minds had already learned to distrust information and ideas that derived from the then traditional qualitative approach to science, which described the sensations associated with objects and events. William Petty's Political Arithmetic is a case in point; it aimed not simply to record and describe reality in terms of

The intersubjective ontology of need in Carl Menger

2020 ◽  
Vol 44 (5) ◽  
pp. 1093-1113
Author(s):  
Toru Yamamori
Keyword(s):  
Political Economy ◽  
Economic Analysis ◽  
Classical Political Economy ◽  
History Of ◽  
Significant Change ◽  
Carl Menger

Abstract As I have argued elsewhere, there is no room for the concept of need in the prevailing neoclassical school of economics—without reducing the need to a purely subjective construct. Not so, however, both in classical political economy and in the contemporary heterodox schools of economics. The main aim of this paper is, firstly, to show the existence of the concept of need as such in Carl Menger—widely acknowledged as one of the fathers of modern economics; and secondly, to trace the concept’s erasure in the orthodox school along with its rediscovery in the heterodox schools. With this exposition on the history of the idea, I hope to demonstrate how taking the concept seriously would urge us to engage ontological research and would mandate a significant change in economic analysis, regardless of whether this change is considered to reside within the orthodox tradition or be deemed a departure to heterodoxy.

Bentham’s Economics of Legislation

2002 ◽  
Vol 20 (2) ◽  
pp. 165-190 ◽  
Author(s):  
Marco E. L. Guidi
Keyword(s):  
Political Economy ◽  
Economic Analysis ◽  
Political Theory ◽  
Political System ◽  
Costs And Benefits ◽  
Economic Dimension ◽  
The Relationship ◽  
Traditional Assessments

Abstract This paper aims to highlight the economic dimension of Bentham's legal and political theory. Traditional assessments of the British legal and political system described judges and statesmen as 'wise legislators' who pursue the welfare of their subjects similarly to virtuous householders. Bentham's utilitarian restatement of the 'science of legislation' introduced a new notion of 'economy' intended as maximisation of pleasure and minimisation of pain. Under this label he evaluated laws and institutions according to the positive and adverse incentives they contained, and to the costs and benefits they had for individuals and for die community at large. The relationship between the economic analysis of laws, regulations and institutions and political economy is also examined in this paper.

Aristotle and the political economy of the polis

1979 ◽  
Vol 99 ◽  
pp. 57-73 ◽  
Author(s):  
Scott Meikle
Keyword(s):  
Political Economy ◽  
Economic Analysis ◽  
Market Economy ◽  
Fourth Century ◽  
Economic Thought ◽  
The Political ◽  
Process Of Change ◽  
Historical Process ◽  
Substantial Body ◽  
Moral Condemnation

Athens in the fourth century was undergoing a process of social and economic change of which a major component was the development of elements of market economy. The question to be addressed here is: what response does that historical process meet with in the work of Aristotle? I shall contend that Aristotle has a substantial body of thought, analytical in nature and intent, which is directed specifically to the analysis of that process. M. I. Finley has drawn quite the contrary conclusion, and in addition to developing my own account of Aristotle's thought 1 shall have to examine the shortcomings of Finley's. Finley takes the view that although Aristotle was aware of the process of change he simply ignored it, and that there is no trace of any analytical concern with it to be found in those sections of the Aristotelian corpus which it has been usual to regard as containing Aristotle's ‘economic’ thought, namely, NE v 5, and Pol i 8–10. Finley sees in Aristotle nothing more than moral condemnation of certain practices such as kapelike which he regarded as damaging to the koinonia of the polis.It sometimes happens that what one finds in an author depends on one's possession or lack of the equipment necessary to recognise what is there and to identify it for what it is. Finley is looking at Aristotle in order to determine the presence or absence of what he terms ‘economic analysis’.

Pareto and the Wicksell–Cobb–Douglas Functional Form

1998 ◽  
Vol 20 (2) ◽  
pp. 203-210 ◽  
Author(s):  
Christian E. Weber
Keyword(s):  
Political Economy ◽  
Economic Analysis ◽  
Utility Function ◽  
Production Function ◽  
Functional Form ◽  
French Translation ◽  
Joseph Schumpeter

It is understood that Charles Cobb and Paul Douglas (1928) were not the first to use the production function named after them. Joseph Schumpeter (1954, p. 1042), Carl-Axel Olsson (1971), and Henry Spiegel (1991, p. 816) all note that the production function Y = AKαL1-α had been used by Knut Wicksell (1901, 1906) more than twenty years before Cobb and Douglas published their study. While it is quite possible that Wicksell was the first to use the Cobb-Douglas functional form to study production, he was not the first to apply it to economic analysis in general. Vilfredo Pareto had worked out several implications of a specific version of the Cobb-Douglas utility function as early as 1892. Later, he repeated and extended this analysis in the mathematical appendix to the French translation of his Manual of Political Economy (1909).

scholarly journals Model of public choice and political rent

2018 ◽  
Vol 2 (2) ◽  
pp. 49-57
Author(s):  
Agnieszka Bezat-Jarzebowska ◽  
WÅ‚odzimierz Rembisz ◽  
Agata Sielska
Keyword(s):  
Political Economy ◽  
Economic Analysis ◽  
Public Choice ◽  
Agricultural Policy ◽  
Choice Model ◽  
Decision Makers ◽  
Political Economic ◽  
Benefits And Costs ◽  
Selection Of

It can be assumed that the scope of agricultural policy and connected with its financial streams are not accidental. Selection of a particular, policy defines a mechanism in which the benefits and costs are combined. Such an effort of describing and ex plaining the mechanism was presented in the paper. We use the concept of a public choice model. Issues of including political (or admin istrative) interest in defining and shaping the policy are incorporated into the models of public choice. The authors assumed the rationality of decision makers and their goal to maximize their own utility. The analysis presented in the paper is some reference to one of the trends of political economy, according to which the emphasis is on the voters’ behaviour.   Keywords: Public choice, political rent, agricultural policy, political economic  analysis

Monetary equilibrium

2020 ◽  
Author(s):  
Javier Sánchez-Rivas García ◽  
María del Pópulo Pablo-Romero Gil-Delgado ◽  
Alfonso Expósito García ◽  
Palma Gómez-Calero Valdés ◽  
María del Pilar Espinosa Goded
Keyword(s):  
Political Economy ◽  
Economic Analysis ◽  
Money Markets ◽  
Monetary Equilibrium

Didactic animation that shows the simultaneous balance of the goods and money markets, as well as the necessary graphics to explain the macroeconomic equilibrium. Department of Economic Analysis and Political Economy.

The is curve

2020 ◽  
Author(s):  
Javier Sánchez-Rivas García ◽  
María del Pópulo Pablo-Romero Gil-Delgado ◽  
Alfonso Expósito García ◽  
Palma Gómez-Calero Valdés ◽  
María del Pilar Espinosa Goded
Keyword(s):  
Political Economy ◽  
Interest Rate ◽  
Economic Analysis ◽  
Income Levels ◽  
Step Process ◽  
It Department

Didactic animation that shows in a step-by-step process the IS curve and the combinations of interest rate and income levels in the macroeconomic equilibrium, as well as the necessary graphics to describe it. Department of Economic Analysis and Political Economy.

Sign in / Sign up

Export Citation Format

Share Document