Economics Sitemap - Page 1 2016-09-26

White Noise Process Definition
White noise is a random distribution of sound or of any other phenomenon. To qualify as real white noise, each event must be uncorrelated with others.

What Does Uncertainty Mean in Economics?
Economic definition of uncertainty. The difference between real uncertainty, called Knightian, and something else that's more properly termed

Cross-Price Elasticity of Demand
The meaning of cross price elasticity of demand; the difference between CPEoD for substitute goods and complementary goods; calculating CPEoD.

A Beginner's Guide to Elasticity; Price Elasticity of Demand
This beginner's guide to elasticity explains the meaning of the economic concept and demonstrates with a couple of examples why it is important.

Price Elasticity of Supply
Article gives a common-sense and easy to understand explanation of what price elasticity of supply is and how to calculate the price elasticity of supply.

Income Elasticity of Demand
Article reviews Price Elasticity of Demand, compares it with Income Elasticity of Demand. Both formulas express relationships between two variables.

What is the Definition of a Budget Line?
An explanation of the economics term

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Introduction to Price Supports
This article introduces the concept of a price support and shows how it affects a market.

Pro Forma Definition - Economics
Pro forma financial statements answer the question

Econometrics
This category contains articles having to do with econometrics and data analysis.

Contract Theory and Incentives
This category contains articles related to contract theory and incentives.

What Is a Corner Solution?
This article explains what is meant by the term

Introduction to Utility Maximization
This category introduces the concept of utility maximization and explains how economists model the consumer's decision-making process.

Markets for the Factors of Production
This category illustrates the supply and demand model in the context of markets for factors of production such as labor and capital.

The Production Function
This category contains articles about the production function, which is how economists describe the relationship between the inputs to production and the quantity of output.

Decision Making Under Uncertainty
This category contains articles related to the analysis of utility maximization in the context of risky choice.

What Is an Interior Solution?
This article explains what is meant by

What Is Constant Absolute Risk Aversion?
This article explains what is meant by a

What Is an Intensive Margin?
This article explains what is meant by the term

Labor Market Outcomes
This article explains what is meant by the term

What Is a Deterministic Function?
This article explains what a deterministic function is in the context of economics.

Price Controls
This category contains articles that discuss the effects of price controls on markets.

Game Theory
This category contains articles related to the field of game theory.

Price Control Practice Problems
This category contains practice problems related to price controls.

The Maximin Principle
This article gives a brief explanation of the maximin principle as it applies to economics and game theory.

The Production Function in Economics
This article introduces the economic production function and discusses a number of its features.

The Production Function in Economics
This article introduces the economic production function, which relate the quantity of output to the amount of capital, labor, and other factors of production that a company uses.

The Production Function in Economics
This article introduces the economic production function, which relate the quantity of output to the amount of capital, labor, and other factors of production that a company uses.

The Short Run Versus The Long Run
This article discusses the economic distinction between the short run and the long run. Page 3.

The Short Run Versus The Long Run In Economics
This article discusses the economic distinction between the short run and the long run in economics and outlines a number of different interpretations of the terms.

The Short Run Versus The Long Run
This article discusses the economic distinction between the short run and the long run. Page 2.

The Math Behind the Term "Natural Increase"
A definition of the term

The Meaning of Capital Deepening
An explanation of the meaning of the term

Does the Word "Capitol" Have More Than One Meaning?
The definition of capital as used generally. How this meaning changes to some degree in the contexts of finance, accounting and economics.

The Different Types of Unemployment
This article outlines the different types of unemployment and explains how each one can arise in an economy.

Your Guide to Economics at About.com
Learn economic basics, the difference between macroeconomics and microeconomics, demand vs. supply, and more concepts to help make sense of the world.

Price Elasticity of Supply
This article introduces the concept of price elasticity of supply and shows how it is calculated.

Income Elasticity of Demand and the Supply and Demand Curves
Economics.

Income Elasticity and Normal and Inferior Goods
Economics.

Perfect Income Elasticity and Inelasticity
Economics.

Types of Markets
This category gives an overview of different types of market structures and describes how prices and quantities are set in each.

Monopoly
This category outlines the price and quantity decisions that a monopolist faces. It also discusses the economic value implications of monopoly.

Financial Markets
This category has articles related to how financial markets work.

Oligopoly
This category contains articles about the oligopoly market structure.

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The Economics of Healthcare
This article gives an overview of the challenges inherent in the U.S. healthcare market.

What Is a Monopoly?
This article explains what a monopoly is and outlines the different ways that an economy can give rise to monopolies.

Markets for the Factors of Production
This article describes the circular-flow model and explains how it shows the movement of money, goods and services, and factors of production in an economy. Page 3.

The Circular-Flow Model
This article describes the circular-flow model and explains how it shows the movement of money, goods and services, and factors of production in an economy.

The Circular-Flow Model of the Economy
This article describes the circular-flow model and explains how it shows the movement of money, goods and services, and factors of production in an economy.

The Circular-Flow Model in Microeconomics
This article describes the circular-flow model and explains how it shows the movement of money, goods and services, and factors of production in an economy.

The Circular-Flow Model
This article describes the circular-flow model and explains how it shows the movement of money, goods and services, and factors of production in an economy.

The Circular-Flow Model
This article describes the circular-flow model and explains how it shows the movement of money, goods and services, and factors of production in an economy.

Introduction to the GDP Deflator
This article introduces the concept of the GDP deflator as a measure of aggregate price level and shows how it can be used to measure inflation.

The GDP Deflator
This article introduces the concept of the GDP deflator as a measure of aggregate price level and shows how it can be used to measure inflation.

The GDP Deflator
This article introduces the concept of the GDP deflator as a measure of aggregate price level and shows how it can be used to measure inflation.

The GDP Deflator
This article introduces the concept of the GDP deflator as a measure of aggregate price level and shows how it can be used to measure inflation.

What is Econometrics?
This article helps beginners start to understand what is studied in the field of economics known as econometrics.

Definition of Gross National Product (GNP)
This article gives the definition of Gross National Product and provides some resources related to the term.

What Are Opportunity Costs?
This articles gives a brief explanation of what opportunity costs are and how they factor into the notion of true economic cost.

Nominal vs Real Exchange Rate: Cost of Equivalent Goods
This article gives an overview of what real exchange rates are and how they are used.

An Overview of Real Exchange Rates
This article gives an overview of what real exchange rates are and how they are used.

How to Calculate the Real Exchange Rate
This article gives an overview of what real exchange rates are and how they are used.

Nominal vs Real Exchange Rate: Cost of Equivalent Goods
This article gives an overview of what real exchange rates are and how they are used.

Nominal vs Real Exchange Rate: Cost of Equivalent Goods
This article gives an overview of what real exchange rates are and how they are used.

Guide to Purchasing Power Parity Theory (PPP Theory)
This articles gives an overview of the Purchasing Power Parity (PPP) Theory for beginners, explaining how it works and what the theory implies.

A Beginner's Guide to Purchasing Power Parity Theory (PPP Theory)
Article answers the question:

Calculating and Understanding Real Interest Rates
This article explains what the real interest rate measures conceptually and shows how it is calculated.

Unemployment
This category introduces the concept of unemployment, explains how it is calculated, and describes different types of unemployment.

Increasing, Decreasing, and Constant Returns to Scale
This article gives an overview of how to identify increasing, decreasing, and constant returns to scale.

Using Calculus To Calculate Price Elasticity of Demand
This article explains how to calculate the point version of price elasticity of demand using calculus.

Post-Contractual Opportunism and the Boundaries of the Firm
This article outlines one explanation for what determines the boundary of a firm.

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Expansionary Monetary Policy and Aggregate Demand
An examination of what happens when we have cost of living allowances in an aggregate demand and aggregate supply models.

Economist John Maynard Keynes
A short biography of economist John Maynard Keynes

The Government's Role in the Economy
this article gives a brief overview of the role that government plays in the economy.

The Basics of the Current Account in Economics
This article explains what the current account is for newcomers to economics.

What Is a Bond?
This article gives a basic definition of a bond.

What Are the Various Subfields of Economics?
This article gives a list of the various subfields within economics.

Price Elasticity of Demand
Article gives a common-sense and easy to understand explanation of what price elasticity of demand is and how to calculate the price elasticity of demand

The Tit-for-Tat Strategy
Tit-for-Tat Defined - A Dictionary Definition of Tit-for-Tat

Introduction to Network Externalities
Network Externalities Defined - A Dictionary Definition of Network Externalities

Introduction to the Reserve Ratio
A Beginner's Guide to the Reserve Ratio looks at the impact the reserve ratio has on the money supply

The Double Coincidence of Wants
The Double Coincidence of Wants Defined - A Dictionary Definition of The Double Coincidence of Wants

The Cobb-Douglas Production Function
Cobb-Douglas Production Function Defined - A Dictionary Definition of Cobb-Douglas Production Function

What Is the Definition of Unemployment?
Unemployment Defined - A Dictionary Definition of Unemployment

A Comprehensive Look at the United States Trade Deficit
We provide a comprehensive and up to date examination of the American trade deficit from the 1970s to today from causes to influential factors.

The Global Economy
An examination of the global economy.

Bretton Woods System - Foreign Trade History
An examination of the Bretton Woods system.

The American Dollar and the World Economy
A look at the role the U.S. Dollar plays on the world stage.

Free Enterprise and the Role of Government in America
An examination of the U.S. government's role in the economy.

The American Economy at the End of the 20th Century
The United States entered the 21st century with an economy that was bigger, and by many measures more successful, than ever.

Farming Post World-War II
An examination of American farming after World War II.

Agriculture and the Economy - An Overview
A look at the impact agriculture has on the American economy.

Book Recommendations for Graduate School in Economics
Advice for a student considering entering graduate school in economics. The main advice is on books that you may want read for entering graduate school in economics.

Books To Read Before Graduate School in Economics
Reading recommendations for a student entering graduate school in economics. These will help prepare you for classes you will likely take. Page 2.

Graduate-Level Economics Books Reading List
Advice for a student considering entering graduate school in economics. The main advice is on books that you may want read for entering graduate school in economics. Page 3.

Books to Study Before Going to Graduate School in Economics
Advice for a student considering entering graduate school in economics. The main advice is on books that you may want read for entering graduate school in economics. Page 4.

Are Credit Cards a Form of Money?
Are credit cards are a from of money? An interesting and unusual question about! Let's take a look at what is considered to be money and where credit cards fit in.

The Logic of Collective Action by Mancur Olson
Why do so many government policies make such little economic sense? The best answer I've seen to this question comes from The Logic of Collective Action. Mancur Olson's The Logic of Collective Action explains why some groups are able to have a larger influence on government policy than others.

The Logic of Collective Action
Why do so many government policies make such little economic sense? The best answer I've seen to this question comes from The Logic of Collective Action. Mancur Olson's The Logic of Collective Action explains why some groups are able to have a larger influence on government policy than others. Page 2.

The Logic of Collective Action
Why do so many government policies make such little economic sense? The best answer I've seen to this question comes from The Logic of Collective Action. Mancur Olson's The Logic of Collective Action explains why some groups are able to have a larger influence on government policy than others. Page 3.

The Logic of Collective Action
Why do so many government policies make such little economic sense? The best answer I've seen to this question comes from The Logic of Collective Action. Mancur Olson's The Logic of Collective Action explains why some groups are able to have a larger influence on government policy than others. Page 4.

How Much Is the Per Capita Money Supply in the U.S.?
Here I answer the e-mail question

What's the Price Elasticity of Demand for Gasoline?
A brief overview of two meta-analyses of studies of the price elasticity of gasoline.

What is Real Analysis?
Article answers the questions:

Can a National Sales Tax Replace Income Taxes in the U.S.?
Replacing income tax with a national sales tax is a popular policy proposal. Here we look at the two types of taxation and their effects on the economy. Page 2.

Who Loses Under a National Sales Tax System?
Replacing income tax with a national sales tax is a popular policy proposal. Here we look at the two types of taxation and their effects on the economy. Page 4.

Can a National Sales Tax Replace Income Taxes in the U.S.?
Replacing income tax with a national sales tax is a popular policy proposal. Here we look at the two types of taxation and their effects on the economy.

Can a National Sales Tax Replace Income Taxes in the U.S.?
Replacing income tax with a national sales tax is a popular policy proposal. Here we look at the two types of taxation and their effects on the economy. Page 3.

Could a National Sales Tax Replace Income Taxes in the U.S.?
Replacing income tax with a national sales tax is a popular policy proposal. Here we look at the two types of taxation and their effects on the economy. Page 5.

Overview of the Banking System in India
Article examines the Indian banking system and where the Indian banking sector is headed in the future.

Banking in India: Banking on Retail
Examine the Indian banking system, and where it is headed in the future, including the impact of foreign banks on the Indian market. Page 2.

What Does the Demand for Money Factor of Inflation Mean?
This question answers the questions: What is the demand for money? Does that change? The other three elements all make perfect sense to me but demand for money is confusing me to no end.

Factors Which Influence the Demand for Money
This question answers the questions: What is the demand for money? Does that change? The other three elements all make perfect sense to me but demand for money is confusing me to no end. Page 2.

What's the Difference Between Nominal and Real Quantities?
Nominal vs. Real Question Answered: I'm learning economics and I keep hearing the terms nominal and real all the time to describe things like interes rates. What's the difference between nominal and real?

The Short Run vs. Long Run in Microeconomics
Many an economics student has questioned the difference between the long run and the short run in economics. Learn about the short run vs long here.

The Life and Works of David Ricardo - a Biography
A short biography of economist David Ricardo.

What Can & Should Be Done About the US Budget Deficit?
Article discusses five key questions about the predicted $482 billion U.S. federal budget deficit announced on July 29, 2008.

U.S. Budget Deficit - Five Key Questions
Article discusses five key questions about the predicted $482 billion U.S. federal budget deficit announced on July 29, 2008. Page 2.

U.S. Budget Deficit - Five Key Questions
Article discusses five key questions about the predicted $482 billion U.S. federal budget deficit announced on July 29, 2008. Page 3.

Outline of the U.S. Economy
This free online economics textbook

The Meaning of Total Factor Productivity
This article explains what economists mean when they use the term total factor productivity.

The Meaning of Constant Returns to Scale
This article explains what is meant by constant returns to scale in an economic context.

What Does "Money" Mean in an Economic Context?
This article explains what counts as money in an economic context.

Defining Omitted Variables Bias
This article defines the concept of omitted variables bias and explains the effect that it has on regression estimates.

What Does "Productivity" Mean in an Economic Context?
This article explains what productivity means in an economic context.

The Use of R-Squared in Economics
This article defines the economic and statistical concept of r-squared and discusses how to interpret its value.

The Meaning of Nash Equilibrium
This article defines the concept of Nash equilibrium on a conceptual level and gives some mathemaicla formalization to the concept.

The Meaning of Frictional Unemployment
This article explores the definition of frictional unemployment.

What Does "Wedge" Mean in an Economic Context?
This article explains what the term

What Does "Hedonic" Mean in an Economic Context?
This article explains what the term

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All About the Two-Part Tariff
This article explains what a two-part tariff is in economics and shows how it is used in markets.

The Quantity Theory of Money
This article introduces the quantity theory of money and discusses various critiques of the theory.

The Quantity Theory of Money
This article introduces the quantity theory of money and discusses various critiques of the theory.

The Quantity Theory of Money
This article introduces the quantity theory of money and discusses various critiques of the theory.

The Quantity Theory of Money
This article introduces the quantity theory of money and discusses various critiques of the theory.

The Quantity Theory of Money
This article introduces the quantity theory of money and discusses various critiques of the theory.

The Quantity Theory of Money
This article introduces the quantity theory of money and discusses various critiques of the theory.

Economic Influence Over Presidential Election Outcomes
With data from presidential elections from 1956 to the present, we examine of the relationship between the economy, jobs, and chances of reelection.

The Economy & Incumbent Presidents Who Won Reelection
With data from presidential elections from 1956 to the present, we examine the relationship between the re-elections on the economy. Page 2.

Presidential Elections and the Economy
With data from presidential elections from 1956 to the present, we examine of the relationship between the economy, jobs, and chances of reelection. Page 3.

Presidential Elections and the Economy
With data from presidential elections from 1956 to the present, we examine of the relationship between the economy, jobs, and chances of reelection. Page 4.

Testing the Theory of Relation of Exchange Rates and Commodity Prices
The value of the Canadian Dollar has been on an upward trend relative to the USD. Let's examine the theory of relation of exchange rates and commodity prices. Page 2.

How Are Exchanges Rates and Commodity Prices Related?
Let's examine if changes in commodity prices on the Canadian Dollar, including the effect of Americans buying more Canadian products, and the conclusion. Page 3.

The Relationship Between Exchange Rates and Commodity Prices
The value of the Canadian Dollar has been on an upward trend relative to the USD. Let's examine if changes in commodity prices have driven the rise.

Advantages of Proportional Representation
An examination of the advantages​ of using a Proportional Representation (PR) voting system, including women's representation in the national government. Page 2.

Works Cited: Proportional Rep vs. First-Past-The-Post
An examination of the advantages of using a Proportional Representation (PR) voting system. Here is a list of the works cited in this article. Page 4.

Why PR is Not the Best Electoral System
An examination of the advatanges of using a Proportional Representation (PR) voting system over the first-past-the-post method used in countries such as the United States and Canada. Page 3.

Proportional Representation vs. First-Past-The-Post
An examination of the advantages of using a Proportional Representation (PR) voting system over the first-past-the-post method used in countries such as the United States and Canada.

How Prices are Set in a Market Economy
Learn how prices are set in a market economy with examples of contingent contracts and the 2003 MLB All-Star Game.

How Prices are Set in a Market Economy
Prices, and changes in prices, convey a lot of information. From an informational standpoint, contingent contracts are very nice. The use of contingent contracts and prices are explained. Page 2.

How the 2003 MLB All-Star Game Affected the Market
How the 2003 MLB All-Star Game influenced how prices are set in a market economy, and the real-time price of contingent contracts. Page 3.

The Effect of Information On Market Prices
The use of contingent contracts and prices are explained in this article. Read about the effect of information, and other influences, on market prices. Page 4.

A Beginner's Guide to Economic Indicators
I'm constantly hearing about economic indicators in the news, but I'm never sure what they're talking about. What are economic indicators and why are they important?

A Beginner's Guide to Economic Indicators
I'm constantly hearing about economic indicators in the news, but I'm never sure what they're talking about. What are economic indicators and why are they important? Page 2.

Economic Indicators: a Beginner's Guide
Read this article to learn about economic indicators and why are they important, which includes prices, federal finance, and international trade. Page 3.

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All About Negative Interest Rates
This article introduces the concept of a negative interest rate and explains how and why they occur.

What Is a Free-Market Economy?
This article provides a definition for a free-market economy and lists some resources for related reading and learning.

Introduction to the Coase Theorem
This article gives an overview and example of the Coase Theorem and discusses potential reasons why the theorem might not apply in practice.

Why Don't Prices Decline During A Recession?
In this article, we look at why, contrary to basic economic theory, deflation does generally not occur during recessions.

Why Do Budget Deficits Grow During Recessions?
This article explains why budget deficits in an economy tend to increase during bad economic times- i.e. recessions.

What Is a Discount Factor?
This article gives the general definition of a discount factor, shows how it is used in economics, and provides a few resources for further reading.

What Is an Externality?
This article gives the general definition of an externality associated with a market and provides a few examples and resources for further reading.

Introduction to Marginal Analysis
A look at the use of marginal analysis in economics. An article for students new to economics.

The Meaning of Economic Efficiency
Article answers the question

Microeconomics Versus Macroeconomics
This article explains the distinction between microeconomics and macroeconomics.

What Is Cyclical Unemployment?
Cyclical Unemployment Defined - A Dictionary Definition of Cyclical Unemployment

Hypothesis Testing Using One-Sample t-Tests
You've got your regression results, but what do you do with them? Here we show how to conduct a one-sample t-test. Page 2.

Hypothesis Testing With One-Sample t-Tests
You've got your regression results, but what do you do with them? Here we show how to conduct a one-sample t-test.

Hypothesis Testing Using One-Sample t-Tests
You've got your regression results, but what do you do with them? Here we show how to conduct a one-sample t-test. Page 3.

Economics Basics
This category gives an overview of what economics is and what readers need to know when they first start studying economics.

Perfect Competition
This category goes through the price and quantity decisions that firms in competitive markets face. It also discusses market supply both in the short run and the long run.

Glossary of Economic Terms
This category gives a glossary of frequently used economic terms.

Economics Basics Practice Problems
This category contains practice problems related to economics basics.

How Do Economists Measure Unemployment?
This article explains how economists define unemployment.

Regressive, Proportional, and Progressive Taxes
Economics. Page 3.

What Are the Different Types of Taxes?
This article introduces different types of taxes and discusses some of the specific features of each.

Economics
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Economics. Page 4.

Cost Curves
This article illustrates the cost curves associated with a typical firm's costs of production.

Cost Curves Associated with Costs of Production
This article illustrates the cost curves associated with a typical firm's costs of production.

Cost Curves
This article illustrates the cost curves associated with a typical firm's costs of production.

Cost Curves
This article illustrates the cost curves associated with a typical firm's costs of production.

Cost Curves
This article illustrates the cost curves associated with a typical firm's costs of production.

Cost Curves
This article illustrates the cost curves associated with a typical firm's costs of production.

Cost Curves
This article illustrates the cost curves associated with a typical firm's costs of production.

Cost Curves
This article illustrates the cost curves associated with a typical firm's costs of production.

How the Long-run Supply Curve Is Constructed
This article explains how the long-run supply curve is constructed and outlines some of its features.

Market Entry and Exit
This article explains how the long-run supply curve is constructed and outlines some of its features.

The Effect of Entry on Prices and Profits
This article explains how the long-run supply curve is constructed and outlines some of its features.

The Effect of Exit on Prices and Profits
This article explains how the long-run supply curve is constructed and outlines some of its features.

Short-Run Response to a Change in Demand
This article explains how the long-run supply curve is constructed and outlines some of its features.

Long-run Response to a Change in Demand
This article explains how the long-run supply curve is constructed and outlines some of its features.

The Shape of the Long-Run Supply Curve
This article explains how the long-run supply curve is constructed and outlines some of its features.

An Upward-Sloping Long-Run Supply Curve
This article explains how the long-run supply curve is constructed and outlines some of its features.

The Different Types of Money in an Economy
This article explains the different types of money than can arise in an economy.

Exclusion Restrictions in Instrumental Variables
Instrumental variables are used to estimate causal relationships when a controlled study isn’t feasible. IV methods rely on proper exclusion restrictions.

Why Percents & Percentage Points Are Cousins, Not Twins
Economics.

What Is a Market?
Market Defined - A Dictionary Definition of Market

What Is a Balanced Budget?
Balanced Budget Defined - A Dictionary Definition of Balanced Budget

What Is Average Total Cost?
Average Total Cost Defined - A Dictionary Definition of Average Total Cost

What Is the Discount Rate?
Discount Rate Defined - A Dictionary Definition of Discount Rate

What Is the Gini Coefifcient?
Gini Coefficient Defined - A Dictionary Definition of Gini Coefficient

What Is a Barter Economy?
Barter Economy Defined - A Dictionary Definition of Barter Economy.

What Is Human Capital?
Human Capital Defined - A Dictionary Definition of Human Capital

What Are Sunk Costs?
Sunk Costs Defined - A Dictionary Definition of Sunk Costs

What Is Industrialization?
Industrialization Defined - A Dictionary Definition of Industrialization

IC Constraint / Incentive Compatibility Constraint - Glossary - Dictionary Definition of IC Constraint / Incentive Compatibility Constraint
IC Constraint / Incentive Compatibility Constraint Defined - A Dictionary Definition of IC Constraint / Incentive Compatibility Constraint

What is the Labor Force Participation Rate?
Article answers the question

The Impact of an Increase in the Minimum Wage
This article outlines the factors to consider when analyzing a change in the minimum wage.

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Practice Problems
This category gives practice problems for the aggregate demand/aggregate supply model.

Economic Terms Beginning With B
This category contains glossary entries for economic terms beginning with the letter B.

Economic Terms Beginning With N
This category contains glossary entries for economic terms beginning with the letter N.

Economic Terms Beginning With W
This category contains glossary entries for economic terms beginning with the letter W.

Externalities Practice Problems
This category contains practice problems related to externalities.

Monetary Policy Practice Problems
This category contains practice problems related to monetary policy.

Elasticity Practice Problems
This category contains practice problems related to elasticity.

Inflation and Unemployment
This category contains articles pertaining to the relationship between inflation and unemployment.

Behavioral Economics
This category gives information on behavioral economics.

Inflation
This category contains articles related to inflation, or changes in the aggregate price level.

Exchange Rates
All about exchange rates. Economics.

Gains from Trade
This category explains how economies can gain from trading with other economies rather than producing everything it wants to consume.

Economic Growth
This category contains article that pertain to the determinants of economic growth.

Fiscal Policy
This category contains articles related to the use of fiscal policy in order to stabilize the economy.

Prospect Theory
This category contains articles about the concept of prospect theory covered in behavioral economics.

Market Failures
This category contains articles about market failures that are not covered elsewhere.

Financial Markets
This category contains articles that discuss topics related to financial markets.

Pricing Models
This category contains articles related to different pricing models and their effects.

Externalities
This category gives an overview of externalities, or market side effects, outlines different types of externalities and discusses the implications of externalities for economic value creation in a market. This category also introduces policy solutions to remedy the effects of externalities.

Budget Constraints
This category introduces the budget constraint, or the model of what a consumer can afford, and gives some examples of different budget constraints.

Monopolistic Competition
This category gives an overview of the monopolistic competition market structure.

The Production Possibilities Frontier
This category introduces the production possibilities frontier and describes some of its notable features.

Public Goods, Common Resources and Club Goods
This category introduces different types of goods that can result when property rights are not well-established.

Using Economics at About.com Effectively
This category gives an outline of how to use this site effectively, particularly for those students in introductory economics courses.

Measures of Income Inequality
This category introduces several ways to measure income inequality.

Interest Rates
This category goes over topics related to interest rates.

Gross Domestic Product
This category defines the term Gross Domestic Product (GDP), outlines the components of GDP, and shows how GDP is calculated.

Awards and Honors in Economics
This category introduces the awards and honors that economists can receive.

Taxes
This category gives an economic analysis of taxes.

Monetary Policy
This category introduces different types of monetary policy and explains their effects on the economy.

Money
This category introduces the concept of money, defines different measures of the money supply, and explores other money-related topics.

Macroeconomic Stabilization Policy
This category describes the effects of monetary and fiscal policy on the economy. It also analyzes the tradeoff between inflation and unemployment.

Changes in Equilibrium
This category introduces the concept of changes in equilibrium, or comparative statics, and explains how to calculate those changes both qualitatively and quantitatively.

Demand and the Demand Curve
This category introduces the concept of demand and the demand curve. It also explains what shifts the demand curve and goes through some demand curve algebra.

Elasticity
This category introduces the concept of elasticity and shows how it is calculated. It also outlines the different types of elasticity and illustrates an important application of the elasticity concept.

Market Equilibrium
This category introduces the concept of market equilibrium and explains how equilibrium is calculated.

Supply and the Supply Curve
This category introduces the concept of supply and the supply curve. It also explains what shifts the supply curve and goes through some supply curve algebra.

Income Distribution
This category introduces several measures of income distribution and income inequality. It also discusses poverty and unemployment.

Financial Markets
This category gives information about different types of financial markets.

Business Cycles and Economic Fluctuations
This category introduces the concept of business cycles, or short-term fluctuations in the economy, and discusses potential causes and policy reactions.

Aggregate Supply and Aggregate Demand
This category introduces the macroeconomic concepts of aggregate demand and aggregate supply.

Practice Problems
This category contains general supply and demand practice problems.

Practice Problems
This category gives practice problems on firm production.

Consumer Choice and Utility Maximization
This category introduces the utility maximization framework and shows how consumers' demand is derived.

Measuring Economic Value
This category introduces measures of economic value and shows how to calculate the value that markets create.

Measuring Output, Income and Prices
This category introduces various measures of aggregate output and income. It also defines the concept of money and gives several ways to calculate changes in the overall price level in an economy.

Production and Profit Maximization
This category introduces various measures of revenue, cost and profit and shows how firms make production decisions to maximize profit.

The Effect of Regulation on Markets
This category analyzes the impact of various types of government intervention on the amount of value created in a market.

Supply and Demand
This category goes through the basics of the supply and demand model that is widely used in economics.

International Trade
This category covers topics associated with international trade. It introduces the production possibilities frontier, discusses economic welfare implications of international trade and discusses issues in open-economy macroeconomics.

Notable Economists
This category gives biographies of some well-known economists and discusses their contributions to the field of economics.

The ImClone Insider Trading Case: What did Martha Really Do?
Back in 2004, media mogul Martha Stewart served five months in federal prison. What was her crime? The case was all about insider trading.

Will Marijuana Legalization Increase the Demand?
Would Marijuana Legalization Increase the Demand for Marijuana?

The Benefits of Private-Sector "Nudging"
This article explains when and why

Economics
Economics.

Economics
Economics.

Economics
Economics.

Economics
Economics.

Economics
Economics.

Stagflation in a Historical Context
An examination of stagflation in the American economy during the 1970s.

Expansionary Fiscal Policy
This article explains what fiscal policy is and how it affects the economy.

Contractionary Fiscal Policy
This article explains what fiscal policy is and how it affects the economy.

What Is Fiscal Policy?
This article explains what fiscal policy is and how it affects the economy.

What Is the Distinction Between a Recession and a Depression?
How can I tell the difference between a recession and a depression? What is the definition of a recession? Of a depression? How can we tell when we're in a recession oe when we're going to get out of one?

Difference Between a Recession and a Depression?
How can I tell the difference between a recession and a depression? Your depression answers here. Page 2.

What Is a Commodity?
Article answers the question

The Use of Marginal Utility in Economics
Marginal Utility is a concept introduced very early in microeconomics. But what exactly is marginal utility and how do we use it?

What Are Interest Rates?
Article for beginners answers the question: What are Interest Rates?

Definition of Monopsony
Monopsony Defined - A Dictionary Definition of Monopsony

What Is the Law of Demand?
Law of Demand Defined - A Dictionary Definition of Law of Demand.

What Does Ceteris Paribus Mean and How Is It Used?
Ceteris Paribus Defined - A Dictionary Definition of the economic term Ceteris Paribus.

Level of Significance in Hypothesis Testing
In statistics, a statistically significant result in a hypothesis test is achieved when the p-value is less than the defined level of significance.

The Economic Effect of Tariffs
In my article

Why Do We Have Tariffs If They Are Bad for the Economy?
In my article

Economic Effect of Tariffs: Why Governments Impose Them
In my article

Expansionary Monetary vs Contractionary Monetary Policy
I'm having a little trouble trying to understand expansionary monetary policies and contractionary monetary policies. Can you help explain what impact expansionary monetary policies and contractionary monetary policies have on the economy?

Contractionary vs. Expansionary Monetary Policy
I'm having a little trouble trying to understand expansionary monetary policies and contractionary monetary policies. Can you help explain what impact expansionary monetary policies and contractionary monetary policies have on the economy. Page 2.

Currency Depreciation and a Country's Balance of Trade
An entry for the 2005 Moffatt Prize in Economics which asks the question

Does a Currency Depreciation Cause a Worsening of a Country's Balance of Trade?
An entry for the 2005 Moffatt Prize in Economics which asks the question

Does Currency Depreciation Cause Trade Imbalance
An entry for the 2005 Moffatt Prize in Economics which asks the question. Page 3.

What Will Money Look Like in the Future?
As more and more people rely on electronic transactions rather than tangible forms of money, many are left to ponder the future of money and currency.

Purchasing Power Parity: Exchange Rates and Inflation
An article that shows how inflation and the exchange rate between two countries are linked through Purchasing Power Parity (PPP).

Globalization, Unemployment, and Recession Links
Article examines the link between globalization and unemployment. Is there a link between globalization and the frequency of recessions?

Industrial Revolution: History of American Growth
The Industrial Revolution began in Europe, and quickly spread to the U.S. But only after internal struggle and a civil war did industrial growth prevail.

What Is Money? A Brief Article for Beginners
Article for beginners answers the question: What Is Money? After reading the article, you will be able to give a quick and correct answer to the question 'What Is Money?'

Foreign Currency Accounts at U.S. Banks
A reader asks the following question: Thanks for the information that you educate others with on about.com. I was writing to ask if you knew of any US banks

Economics
Economics.

Introduction to Loss Aversion
This article describes the concept of loss aversion as used in behavioral economics and discusses some of the implications of loss aversion.

Economics
Economics.

Economics
Economics.

Income Elasticity of Demand and the Supply and Demand Curves
Economics.

Income Elasticity and Normal and Inferior Goods
Economics.

Perfect Income Elasticity and Inelasticity
Economics.

Price Elasticity of Demand
This article introduces the concept of price elasticity of demand and shows how it is calculated.

Tariffs and Market Equilibrium
Economics.

Tariffs and the Quantity Imported
Economics.

Tariffs and the Supply and Demand Model
Economics.

What Is a Tariff?
This article shows the impact of a tariff on the market price and quantity sold of a good.

An Expected Utility Doesn't Have to be Possible
Economics.

Introduction to Expected Utility
This article introduces the concept of expected utility and shows how it is calculated.

Expected Utility as a Weighted Average
Economics.

The Expected Utility Formula
Economics.

An Expected Utility Example
Economics.

Comparing Autarky and Free Trade
Economics.

Domestic Supply and the Quantity Imported
Economics.

Market Equilibrium with Imports
Economics.

International Trade and Imports
This article shows how the price and quantity of good changes in a country when it opens up to international trade and begins to import a good.

Status-Quo Bias and Loss Aversion
Economics.

Introduction to Status-Quo Bias
This article explains what status-quo bias is and why it arises in individuals' decision-making processes.

Real People Exhibit Status-Quo Bias
Economics.

Status-Quo Bias and Choice Architecture
Economics.

More Elastic Supply and Less Elastic Demand
Economics.

When One Party Bears the Tax Burden
Economics.

An Equally-Shared Tax Burden
Economics.

Tax Burdens and Elasticity
Economics.

More Elastic Demand and Less Elastic Supply
Economics.

The Relationship Between Elasticity and Tax Incidence
This article explains what determines the relative tax burdens on consumers versus producers.

Marginal Propensity to Save
This article explains what marginal propensity to save is and shows how it is calculated.

The Range of Marginal Propensity to Save
Economics.

Other Marginal Propensities
Economics.

The Relationship Between MPC and MPS
Economics.

Measures of Average Propensity
Economics.

The Meeting Game
This article introduces the

The Prisoners' Dilemma
This article introduces the prisoners' dilemma game and shows how to solve for the Nash equilibrium of the game.

The Prisoners' Dilemma
This article introduces the prisoners' dilemma game and shows how to solve for the Nash equilibrium of the game.

The Prisoners' Dilemma
This article introduces the prisoners' dilemma game and shows how to solve for the Nash equilibrium of the game.

Why Does the NAIRU Have to Do With Inflation?
Economics.

What is the NAIRU and Why Does It Matter?
This article explains what economists are referring to when they use the term NAIRU.

Why Is the NAIRU Important?
Economics.

The Money Multiplier
This article introduces the concept of the money multiplier and gives a formula for it.

The Money Multiplier May be Smaller in Practice
This article introduces the concept of the money multiplier and gives a formula for it.

Open Market Operations and the Fractional Reserve Banking System
This article introduces the concept of the money multiplier and gives a formula for it.

Money Supply and the Money Multiplier
This article introduces the concept of the money multiplier and gives a formula for it.

The Economic Efficiency of Competitive Markets
This article explains why well-behaved competitive markets maximize the value that producing and consuming a good can create for society.

The Social Planner's Problem
This article explains why well-behaved competitive markets maximize the value that producing and consuming a good can create for society.

The Social Planner Versus Market Equilibrium
This article explains why well-behaved competitive markets maximize the value that producing and consuming a good can create for society.

The Social Planner's Problem
This article explains why well-behaved competitive markets maximize the value that producing and consuming a good can create for society.

Caveats on Market Efficiency
This article explains why well-behaved competitive markets maximize the value that producing and consuming a good can create for society.

Public Goods, Common Resources, and Club Goods
This article outlines the different types of goods that can exist when property rights are not well-defined.

Public Goods, Common Resources, and Club Goods
This article outlines the different types of goods that can exist when property rights are not well-defined.

Public Goods, Common Resources, and Club Goods
This article outlines the different types of goods that can exist when property rights are not well-defined.

Public Goods, Common Resources, and Club Goods
This article outlines the different types of goods that can exist when property rights are not well-defined.

Public Goods, Common Resources, and Club Goods
This article outlines the different types of goods that can exist when property rights are not well-defined.

Public Goods, Common Resources, and Club Goods
This article outlines the different types of goods that can exist when property rights are not well-defined.

Public Goods, Common Resources, and Club Goods
This article outlines the different types of goods that can exist when property rights are not well-defined.

Public Goods, Common Resources, and Club Goods
This article outlines the different types of goods that can exist when property rights are not well-defined.

Public Goods, Common Resources, and Club Goods
This article outlines the different types of goods that can exist when property rights are not well-defined.

Public Goods, Common Resources, and Club Goods
This article outlines the different types of goods that can exist when property rights are not well-defined.

Public Goods, Common Resources, and Club Goods
This article outlines the different types of goods that can exist when property rights are not well-defined.

Public Goods, Common Resources, and Club Goods
This article outlines the different types of goods that can exist when property rights are not well-defined.

First-Degree Price Discrimination
This article outlines the effect of first-degree price discrimination on a market.

Economics
Economics.

Economics
Economics.

Economics
Economics.

Economics
Economics.

The Effect of Price Changes on Producer Surplus
This article explains how changes in the market price of a good affect the amount of producer surplus generated by the market for the good.

Economics
Economics.

Economics
Economics.

The Effect of Price Changes on Consumer Surplus
This article explains how changes in the market price of a good affect the amount of consumer surplus generated by the market for the good.

Economics
Economics.

Economics
Economics.

The Gini Coefficient
This article introduces the Gini coefficient as a numerical measure of income inequality.

The Gini Coefficient
This article introduces the Gini coefficient as a numerical measure of income inequality.

The Gini Coefficient
This article introduces the Gini coefficient as a numerical measure of income inequality.

Calculating the Gini Coefficient - Economics
This article introduces the Gini coefficient as a numerical measure of income inequality.

The Gini Coefficient
This article introduces the Gini coefficient as a numerical measure of income inequality.

The Gini Coefficient
This article introduces the Gini coefficient as a numerical measure of income inequality.

The Supply Curve
This article introduces the supply curve and discusses a few of its features.

The Supply Curve
This article introduces the supply curve and discusses a few of its features.

The Supply Curve
This article introduces the supply curve and discusses a few of its features.

The Supply Curve
This article introduces the supply curve and discusses a few of its features.

The Supply Curve
This article introduces the supply curve and discusses a few of its features.

The Supply Curve
This article introduces the supply curve and discusses a few of its features.

The Supply Curve
This article introduces the supply curve and discusses a few of its features.

Calculating Profit
This article explains how to calculate a company's economic profit and explains the difference between accounting profit and economic profit.

Calculating Profit
This article explains how to calculate a company's economic profit and explains the difference between accounting profit and economic profit.

Economic Profit Versus Accounting Profit
This article explains how to calculate a company's economic profit and explains the difference between accounting profit and economic profit.

Calculating Profit
This article explains how to calculate a company's economic profit and explains the difference between accounting profit and economic profit.

Calculating Profit
This article explains how to calculate a company's economic profit and explains the difference between accounting profit and economic profit.

The Budget Constraint
This article introduces the concept of the budget constrains and describes some of its important features.

Plotting and Graphing the Budget Constraint
This article introduces the concept of the budget constraint and describes some of its important features.

The Budget Constraint
This article introduces the concept of the budget constrains and describes some of its important features.

Introduction to the Budget Constraint
This article introduces the concept of the budget constraint and describes some of its important features.

About the Budget Constraint Equation
This article introduces the concept of the budget constraints and describes some of its important features. Page 2.

The Budget Constraint
This article introduces the concept of the budget constrains and describes some of its important features.

The Budget Constraint
This article introduces the concept of the budget constrains and describes some of its important features.

Calculating Gross Domestic Product Using Value Added
This article shows how to calculate Gross Domestic Product using the value added at each stage of production.

The Importance of Only Counting Final Goods
This article shows how to calculate Gross Domestic Product using the value added at each stage of production.

Calculating Gross Domestic Product Using Value Added
This article shows how to calculate Gross Domestic Product using the value added at each stage of production.

The Value-Added Approach to Calculating Gross Domestic Product
This article shows how to calculate Gross Domestic Product using the value added at each stage of production.

The Value Added Approach Can Account for Imports and Production Timing
This article shows how to calculate Gross Domestic Product using the value added at each stage of production.

Elasticity vs. the Slopes of the Demand & Supply Curves
This article explains the relationship between elasticity and the slopes of the demand and supply curves.

Elasticity Versus the Slopes of the Demand and Supply Curves
This article explains the relationship between elasticity and the slopes of the demand and supply curves.

Elasticity Vs. the Slopes of the Demand / Supply Curves
This article explains the relationship between elasticity and the slopes of the demand and supply curves. Page 2.

Why Is Economics Called the "Dismal Science?"
This article explains the background of how economics came to be known as the dismal science.