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Economics models: stories to listen to | HearLore
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Economics models
IS–LM modelJohn Hicks stood before the Econometric Society in Oxford during September 1936 to present a new mathematical framework.
Circular flow of incomeRichard Cantillon published his Essay on the Nature of Trade in General during 1730. Chapter eleven and chapter thirteen within that text described how farm…
Guns versus butter modelA nation must choose between two options when spending its finite resources. It may buy either guns to invest in defense or butter to invest in production of…