Anjar Priandoyo

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What is Economy

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What is Economy?

A. Based on Ideology (School of Thought) Ref (Ha Joon Chang 2014)
1. Classical (Adam Smith 1776)
2. Neoclassical (Alfred Marshall b1842)
3. Marxist
4. Developmentalist (Alexander Hamilton b1789)
5. Austrian
6. Schumpeterian
7. Keynesian
8. Institutionalist (Thorstein Veblen b1857)
9. Behaviouralist (Daniel Kahneman b1934, Economy Nobel 2002)

Heterodox Economics: Socialist, Marxian, Institutional, Evolutionary, Post Keynesian
Mainstream (Orthodox) Economics: Saltwater (Berkeley, Harvard, MIT, Princeton, Columbia, Standard, Yale), Freshwater-Laissez-faire (Pittsburgh, Chicago, Rochester)

Evolutionary Economics: Part of Mainstream and Heterodox

Prussian Historical School / Historical School of Economics e.g Weber, Schumpeter
English Historical School of Economics e.g Bacon, Spencer, JS Mill, Compte

B. Based on Branch of Economy
a. Microeconomics ( studies the behavior of individuals and firms in making decisions regarding the allocation of limited resources)
– Demand, Supply, Equilibrium
– Measurement of Elasticities
– Consumer Demand Theory
– Theory of Production
– Cost of Production
– Perfect Competition
– Market Structure: Monopoly/Oligopoly
– Game Theory: Experimental Economics, Behavioral Economics, Political Economy
– Labour Economics, Welfare Economics

b. Macroeconomics
– Monetary Policy
– Fiscal Policy

C. Based on History of Economic Thought Ref
1. Ancient (pre 500 AD) China, India, Greco-Roman
2. Middle Ages (500-1500 AD) Aquinas, Scotus, Buridan, Khaldun, Oresme, Antonin
3. Mercantilism and International Trade (16-18th century)
4. Pre-Classical (17-18th century) Locke, North, Hume, Hutcheson
5. Classical (18-19th century), Adam Smith, Pitt, Burke, Bentham, Say, Ricardo, Mill, Marx
6. Neoclassical (19th-20th) Anglo-American, Continental
7. Alternative Schools 19th century
8. World Wars: Econometrics, Energy Economics, Environment Economics
9. Alternative Schhols 20th century
10. Keynesian 20th century
11. Chicago
12. Games, Evolution and Growth (20th century)
13. Post World War
14. Post 2008

D. Based on Philosophy ref
a. Rational Choice, Decision Theory and Game Theory
– Decision theory – for example, on the natures of choice or preference, rationality, risk and uncertainty, economic agents

b. Ethics and justice (Distributive justice and Justice economics) e.g Utilitarianism vs Welfare Economics

c. Non-mainstream e.g Cross Cultural Perspectives, Feminist


Written by Anjar Priandoyo

Februari 17, 2016 pada 7:47 pm

Ditulis dalam Management

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