The main directions of economic theory

Among the main directions of economic theory, we distinguish three: classical, Marxist and Keynesian. Classical economic theory developed in the XVIII century in England. Its first representative was Adam Smith. He was born in Scotland in the family of a customs official. He was educated at two universities – in Glasgow and in Oxford – […]

Methods of economic theory

Developing and creating economic theory, economic science uses a whole arsenal of research methods. The methods of economic theory are specific ways and techniques of its penetration into the secrets of the economy, the discovery and study of the laws of its functioning and development. In economic theory, a system of methods is used. The […]

Summary and grouping of statistics

As a result of statistical observation, “raw” material, records of individual units of observation are obtained. This material is not suitable for direct use for either practical purposes or scientific analysis. There is a need for special processing of statistical data, i.e. in the summary of observation materials. The summary is a set of sequential […]

Monetary policy. Objectives and tools

Monetary policy objectives are classified into final and intermediate. Ultimate goals: (a) Economic growth; b) full-time employment; c) price stability; d) stable balance of payments. Intermediate targets: (a) The money supply; b) interest rate; c) exchange rate. Monetary policy instruments include: a) credit limits;  direct regulation of the interest rate; b) changes in the rate […]