What is use of analytical tools in the modern economics, Microeconomics

Assignment Help:

What is use of analytical tools in the modern economics?

Analytical Tools:

Modern economics also gives different powerful analytical tools which are usually specified by geometrical or mathematical models. Benefits of such tools can assist us to analyze complicated economic behavior and phenomena by a simple diagram or mathematical structure into a model. Illustration are comprise:

a. The demand-supply curve model,

b. Samuelson’s overlapping generation model,

c. The principal-agent model, and

d. The game theoretical model.


Related Discussions:- What is use of analytical tools in the modern economics

Monopsony, what are the advantages of monopsony?

what are the advantages of monopsony?

Determine the change in unemployment - okun''s law, 1. Utilize Okun's law ...

1. Utilize Okun's law to answer the questions below; u t  - u t-1  = -0.4(g yt  - 3%) Assuming u t-1  = 7% a. Calculate the change in u (u t  - u t-1 ) for each of the follo

Will governments follow good policies, Will Governments Follow Good Policie...

Will Governments Follow Good Policies? That governments can assist in development and growth doesn't mean that governments will. The broad experience of growth in developing ec

Supply decisions, \-6 6\ Why\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\...

\-6 6\ Why\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\

Average labor productivity, can average labor productivity fall even though...

can average labor productivity fall even though total output is rising

Price crimination, (ii) Find a real-world example of second-degree price di...

(ii) Find a real-world example of second-degree price discrimination. Describe the important aspects of your example in detail and analyze it using economic theory. In particular,

The hypothesis of rational expectations, The Hypothesis of Rational Expecta...

The Hypothesis of Rational Expectations : In the General Theory (Keynes, 1936) we noted that the state of expectations was taken as given. There was, in addition, explici

National budget, National Budget: A National Budget is a document show...

National Budget: A National Budget is a document showing estimates of expected government revenue and intended expenditure for the coming financial year. It usually consist of

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