Evolution of economics theories
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Evolution of economics theories
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Evolution of economics theories
- 1. Evolution of All Economics Theories Pradeep Kumar Panda Email: pradeep25687@yahoo.co.in Whatsapp: 9951178889 Website: www.pradeepkumarpanda.weebly.com
- 2. Evolution of Economics Theories • Marginal Utility Analysis – Marshall (1890) • Indifference Curve Theory – Hick & Allen (1934) • Revealed Preference Theory – Samuelson (1938) • Game Theory - Neumann & Morgenstern (1944) • Friedman – Savage Hypothesis (1948) • Cournot Duopoly Model – Augustin Cournot (1838) • Edgeworth Oligopoly Model – Edgeworth (1881) • Bertrand Duopoly Model – Bertrand (1883) • Imperfect Competition – Joan Robinson (1933) • Monopolistic Competition – Chamberlin (1933) • Theory of Population – T R Malthus (1798)
- 3. Evolution of Economics Theories • Stackleberg Duopoly Model – HV Stackleberg (1934) • Kinked Demand Curve – Paul M Sweezy (1939) • Full Cost Pricing – Hall & Hitch (1954) • Sales Revenue Maximisation – Baumol (1959) • Social Welfare Function – Samuelson (1938) • Impossibility Theorem – Arrow (1951) • Second Best Theory – Lipsey & Lancaster (1956) • Coase Theorem – Coase (1959) • Assymmetric Information – George Akerlof, Michael Spence and Joseph E Stiglitz (2001) • Capital Theory – Karl Marx (1867)
- 4. Evolution of Economics Theories • Ricardian Theory of Rent – David Ricardo (1810) • Modern Theory of Rent – Joan Robinson (1933) • Qasi Rent Theory – Alfred Marshall (1830) • Dynamic Theory of Profit – J B Clark (1900) • Innovation Theory of Profit – J A Schumpeter (1934) • Risk Theory of Profit – H B Hawley (1893) • Uncertainty Bearing Theory – Frank H Knight (1921) • Marginal Productivity Theory – Marshall (1833) • Wage Fund Theory – J S Mill (1869) • Residual Claimant Theory - Walker (1875) • Lorenz Curve - Max Lorenz (1905)
- 5. Evolution of Economics Theories • Bargaining Wage Theory – John Davidson (1898) • Abstinence/ Waiting Interest Theory – Senior (1836) • Time Preference Theory – Bohm – Bawerk (1884) • Liquidity Preference Theory – J M Keynes (1936) • IS-LM Theory – Hicks & Hansen (1937) • Absolute Income Hypothesis – J M Keynes (1936) • Relative Income Hypothesis – Duesenberry (1949) • Permanent Income Hypothesis – Friedman (1957) • Life Cycle Hypothesis – Modigliani (1963) • Pigou Effect – Arthur Ceceil Pigou (1943) • Real Balance Effect – Patinkin (1956)
- 6. Evolution of Economics Theories • Accelerator Theory – J M Clark (1917) • Employment Multiplier Theory – R F Khan (1931) • Investment Multiplier Theory – J M Keynes (1936) • Super Multiplier Theory – Hicks (1951) • Inventory Approach – Baumol (1950) • Modern Quantity Theory of Money – M Friedman (1956) • Portfolio Approach – Tobin (1969) • Cash Transaction Approach – Fisher (1911) • Innovation Theory of Trade Cycle - J Schumpeter (1927) • Over Investment Theory – Von Hayek (1930) • Cobweb – Schultz, Tinbergen & Ricci (1930)
- 7. Evolution of Economics Theories • Philips Curve – A W H Philips (1958) • Mundell – Fleming Model (1960) • Optimum Currency Area – Robert Mundell (1960) • Implicit Contract Theory – Baily & Azariades (1979) • Harrod Model – R F Harrod (1939) • Big Push Theory – Rosenstein Rodan (1943) • Domar Model – Domar (1946) • Unbalanced Growth – Hirschman (1950) • Vicious Circle of Poverty – Nurkse (1953) • Unlimited Labour Supply Theory – W A Lewis (1954) • Inverted U Hypothesis – Kuznet (1955)
- 8. Evolution of Economics Theories • Wage Good Model – Brahmamanda & Vakil (1956) • Solow Growth Model – R M Solow (1956) • Population Trap – Nelson & Leibenstein (1956) • Capital Accumulation – Joan Robinson (1956) • Critical Minimum Effort - Leibenstein (1957) • Kaldor Development Model – Kaldor (1957) • Technical Progress – Kaldor (1960) • Rostow Development Model – Rostow (1960) • Mirrles Development Model – Mirrles (1962) • Fei – Rani Development Model – Fei & Rani (1964) • Two Gap Model – Hollis Chenery (1966)
- 9. Evolution of Economics Theories • Learning By Doing – Arrow (1980) • Zero Base Budgeting – Jimmy Carter (1973) • Leontief Paradox – Leontief (1950) • Secular Deterioration – Prebisch & Singer (1950) • Factor Price Equalization – Samuelson (1948) • Opportunity Cost – Haberler (1933) • Purchasing Power Parity – Gustav Cassel (1920) • Physical Quality Life Index – David Morris (1979) • Human Development Index – A Sen & M Haq (1995) • Gender Development Index - UNDP (1995) • Human Poverty Index – UNDP (1997) • Multi Dimensional Poverty Index - UNDP (2010)