• Summary
  • Contents
  • Subject index

Interest in economics is at an all-time high. Among the challenges facing the nation is an economy with rapidly rising unemployment, failures of major businesses and industries, and continued dependence on oil with its wildly fluctuating price. Economists have dealt with such questions for generations, but they have taken on new meaning and significance.Tackling these questions and encompassing analysis of traditional economic theory and topics as well as those that economists have only more recently addressed, 21st Century Economics: A Reference Handbook is a must-have reference resource.Key FeaturesProvides highly readable summaries of theory and models in key areas of micro and macroeconomics, helpful for students trying to get a "big picture" sense of the fieldIncludes introductions to relevant theory as well as empirical evidence, useful ...

Economic Methodology
Economic methodology

Undergraduate students are often introduced to economic concepts using graphical expressions, and the expressions become the defining method of explaining and exploring the economic realm. The graphs become what the students perceive as “economics,” and this is what is meant as “methodology.” If you ask the students, “How do you do economics?” the answer would be based on the graphical examples offered in the classes. Methodology is a complicated way of saying, “These are the tools economists use to explain the economy.” Beginning students are offered very simple tools to explain the concepts of supply, demand, and equilibrium, but the ideas, as well as the graphs, are all part of the methodology.

In most undergraduate economics classes, theory is offered to the student ...

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