Aspects of basic analytical frameworks in modern economics, Microeconomics

Assignment Help:

What are the basic analytical frameworks of modern economics?

The fundamental analytical framework of modern economics:

The fundamental analytical framework for an economic theory comprises five aspects or steps as follows:

a. Requirement of economic environments,

b. Imposition of behavioral assumptions,

c. Adoption of economic institutional arrangements,

d. Determination of equilibrium, and

e. Estimate of outcomes resulting through an undertaken institution.


Related Discussions:- Aspects of basic analytical frameworks in modern economics

Oligopoly, what are the factors causing oligopoly market?

what are the factors causing oligopoly market?

State intervention in an economy, Problem 1: The last half-century has ...

Problem 1: The last half-century has witnessed major changes in the role that governments of developing countries have played, especially in terms of public spending. (a) Ex

Distinction between cost and expenditure, Distinction Between Cost and Expe...

Distinction Between Cost and Expenditure As has already been defined, cost is the money equivalent of material and human resources needed to produce a good or a service. Expen

What is utility maximization according to consumer behavior, What is utilit...

What is utility maximization according to consumer behavior? Consumer Behavior: Utility Maximization A foundational hypothesis onto individual behavior within modern econ

Long run economic profits, 1. Igora's pizzeria want to know if it should st...

1. Igora's pizzeria want to know if it should stay open this spring. Total Revenue will be $ 12,000 per week and Total Cost will be $ 18,000 per week. The fixed cost of running the

Diseconomics of scale, is a hotdog vendor''s stand a good example of diseco...

is a hotdog vendor''s stand a good example of diseconomics of sale?

Oligopoly, characteristics and models of oligopoly by Sweezy,cournot and ed...

characteristics and models of oligopoly by Sweezy,cournot and edgework

Theory of cosumer behaviour - basic themes, THEORY OF COSUMER  BEHAVIOUR: ...

THEORY OF COSUMER  BEHAVIOUR: BASIC THEMES: We elaborated two classical theories (viz. Cardinal Approach and Ordinal Approach). In ordinal approach discussing the indifference

Labour Economics, Sally recently finished her full time training and receiv...

Sally recently finished her full time training and received certification as a nurses aid at the end of august.

Capacity utilization, discuss ho capacity utilization and product different...

discuss ho capacity utilization and product differentiation affect internal rivalry and entry barriers with the analytical framework of the porter five forces model. use the econom

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd