Economics Dictionary of ArgumentsHome
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| Price theory: Price theory, or microeconomics, analyzes how prices are determined within markets. It explores the interactions between supply and demand, examining how individuals and firms make decisions regarding production, consumption, and pricing. Price theory elucidates the mechanisms behind allocation of resources, the impact of changes in prices on market behavior, and the efficiency of market outcomes. See also Supply, Demand, Microeconomics, Price, Markets. _____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
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Milton Friedman on Price Theory - Dictionary of Arguments
Landsburg I 45 Price theory/Friedman/Landsburg: In Friedman’s hands, Chicago Price Theory was not only a powerful and innovative subject in its own right, but the key to all of economics. (…) in Friedman’s Chicago, price theory was at the center of everything, including Friedman’s own work in monetary theory. >Money supply/Friedman, >Monetary theory. Indeed, one thing that strongly distinguishes Friedman(1) from his contemporaries is that his monetary theories depend crucially on a close analysis of why people hold money in the first place - an analysis that in turn depends crucially on the deft application of the tools of price theory. >Ronald Coase, >George Stigler, >Gary Becker. 1. Milton Friedman. (1962). Price Theory. Taylor and Francis [Routledge 2017]. Further reading: Gary Becker, The Economic Approach to Human Behavior, University of Chicago Press, 1978. Gary Becker, The Economics of Discrimination, University of Chicago Press, 1971. Gary Becker, A Treatise on the Family, Harvard University Press, enlarged edition 1993. Harry Markowitz, Portfolio Selection, Yale University Press, 1959. Eugene Fama, Foundations of Finance, Basic Books, 1976. Robert Fogel and Stanley Engerman, Time on the Cross: The Economics of American Negro Slavery, Little Brown, 1974._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition. |
Econ Fried I Milton Friedman The role of monetary policy 1968 Landsburg I Steven E. Landsburg The Essential Milton Friedman Vancouver: Fraser Institute 2019 |
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