Archive | General Equilibrium

General Equilibrium of the Economy | Economics

In this article we will discuss about the general equilibrium of the ecomomy. In microeconomics we discuss the roles of consumer preferences and firms' behaviour in the determination of the prices of commodities and inputs. All our analyses so far have been partial, i.e., the analysis has been confined to analysing only some of the effects of the behaviour of [...]

By Nipun S|2017-01-13T05:55:20+05:30January 13, 2017|General Equilibrium|Comments Off

Rate of Interest— General Equilibrium

Read this article to learn about the problem, determinate theory, schedules and their shifts in general equilibrium of rate of interest. The Problem: Between loanable funds and liquidity preference theory—which one to choose and why? Prof. J.R. Hicks has described such a dispute as a 'sham dispute', for the neo-classical (loanable funds) formulation and the Keynesian formulation, taken together, do [...]

By M. Agarwal|2015-08-10T11:24:31+05:30August 4, 2015|General Equilibrium|Comments Off