Tag Archives | Economic Analysis

Methods used in Economic Analysis

In this article we will discuss about the methods used in economic analysis. Economics can be a very deductive subject, and economists are used to constructing complicated 'models' of human behaviour which begin with a range of assumptions. However, economics is also an empirical subject, using inductive methods to explain observed facts. Thus the downward sloping demand curve, for example, [...]

By Nipun S|2017-01-13T05:58:27+05:30January 13, 2017|Economic Analysis|Comments Off

Margin in Economic Analysis (With Diagram)

In the whole of microeconomics we develop and use models that involve marginal analysis, a technique used to analyse problems by examining the results of small changes. The concept of the margin is central to economic analysis. In economics the word 'margin' refers to anything extra. 'At the margin' means at the point where the last unit is produced or [...]

By Nipun S|2017-01-13T05:58:26+05:30January 13, 2017|Economic Analysis|Comments Off