Explore the causes and implications of below full employment equilibrium, where short-run GDP falls below potential output, leading to resource underutilization.

Many situations in economics are complicated and competitive. New research raises the question of whether many theories in economics may suffer from the very fundamental problem that the key ...

How many nights have you found yourself lying awake, with worries piling up like papers on a desk, wondering how much more you can handle? I know the feeling all too well. There was a time when I ...

This paper argues that the generally shared interpretation of what can be labelled 'Smithian Newtonianism' is spurious on two counts. I suggest not only that Smith was not a Newtonian in the sense ...

Learn the difference between consumer surplus and economic surplus, how the concepts are related, and the important ...

Equilibrium price is a common economics term that refers to the exact price at which market supply equals market demand. Selling goods and services at the equilibrium price point leads to optimized ...

Economics is split between analysis of how the overall economy works and how single markets function Physicists look at the big world of planets, stars, galaxies, and gravity. But they also study the ...

Sinha writes on macroeconomic issues India’s urban challenge is often framed as one of scale: cities are too large, too ...