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Newtonian microeconomicsa dynamic ex...

Estola, Matti.

Newtonian microeconomicsa dynamic extension to neoclassical micro theory /

紀錄類型:	書目-電子資源 : Monograph/item
正題名/作者:	Newtonian microeconomicsby Matti Estola.
其他題名:	a dynamic extension to neoclassical micro theory /
作者:	Estola, Matti.
出版者:	Cham :Springer International Publishing :2017.
面頁冊數:	xviii, 464 p. :ill., digital ;24 cm.
Contained By:	Springer eBooks
標題:	Microeconomics.
電子資源:	http://dx.doi.org/10.1007/978-3-319-46879-2
ISBN:	9783319468792$q(electronic bk.)

Newtonian microeconomicsa dynamic extension to neoclassical micro theory /
Estola, Matti.

Newtonian microeconomicsa dynamic extension to neoclassical micro theory /[electronic resource] :by Matti Estola. - Cham :Springer International Publishing :2017. - xviii, 464 p. :ill., digital ;24 cm.

Chapter 1: Economics as a Science -- Chapter 2: Measuring in Economics -- Chapter 3: Economic Systems -- Chapter 4: Consumer Behaviour -- Chapter 5: The Behavior of Firms -- Chapter 6: Goods' Markets -- Chapter 7: Labor as a Productive Factor -- Chapter 8: Capital Goods as Firms' Input -- Chapter 9: Elasticities and the Market Mechanism -- Chapter 10: Fundamentals of Financial Markets -- Chapter 11: Saving, Borrowing and Interest Rate -- Chapter 12: Mathematical Appendix.

Presenting the dynamic laws of economic quantities, this book tackles one of the core difficulties of current economic theory: that of transforming abstract equations of equilibrium into precise dynamic rules. The theoretical framework of neoclassical micro theory has historically prohibited its development into a quantitative science. Estola identifies the main weaknesses of this framework as follows: 1) Static optimization does not allow for the modelling of time-dependent production and consumption flows; 2) The assumption of optimal behaviours forecloses any understanding of changes in economic quantities, as none will change its optimal behaviour. The author of this title assumes that economic units tend to better their situation where possible. The book demonstrates how this approach leads to an analogous framework in economics to the Newtonian framework in physics. The 'forces' acting upon economic quantities are defined that either cause adjustment toward an equilibrium state or keep the system in motion with time. In this way, the neoclassical framework corresponds to a 'zero-force' situation. Introducing a system of measurement units for economic phenomena, Estola applies this throughout, and thereby illuminates a way for microeconomics to meet the minimum requirements of quantitative analysis.

ISBN: 9783319468792$q(electronic bk.)

Standard No.: 10.1007/978-3-319-46879-2doiSubjects--Topical Terms:

182798
Microeconomics.

LC Class. No.: HB172 / .E88 2017

Dewey Class. No.: 338.5

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