An exploration of the macroeconomic trilemma, balancing exchange rate stability, monetary policy independence, and capital market openness in an open economy.
The branch of economics that examines aggregate quantities in the economy, including total employment, production, consumption, and imports and exports.
A system under which a country’s exchange rate is not pegged, but the monetary authorities manage it through market interventions and macroeconomic policies.
An overview of the marginal conditions for optimality, a fundamental principle in economics that describes the equality of marginal benefit and marginal cost as a characterization of an optimal choice.
Understanding the concept of the marginal efficiency of investment (MEI), its historical context, major analytical frameworks, and practical applications.
The extra output that results from a small increase in an input, formally represented by the partial derivative of a production function with respect to the input's quantity.
An exploration of the concept of the marginal rate of transformation in economics which signifies the amount by which one output can be increased if another is reduced, holding total inputs constant.
An explanation of the functioning of the economy based on the theories of the philosopher Karl Marx, including the labour theory of value, exploitation, and the prediction of a systemic breakdown of capitalism.
A model of interaction between agents where joint productivity or pay-offs depend on individual characteristics on both sides, used in labor market studies.
The maximin principle is a theory of distributive justice proposed by John Rawls. The principle states that the social objective should be the maximization of the utility of the worst-off person.
An overview of Maximum Likelihood Estimator (MLE), a method used to estimate unknown parameters of a distribution by maximizing the likelihood function of the sample.