Economics

Bank of England I. Introduction The Bank of England (BoE) is the central bank of the United Kingdom and one of the oldest central banks in the world. It was established in 1694, and since then, it has played a crucial role in the development and stability of the UK’s financial system. The BoE is … Read more

Financial regulation I. Introduction Financial regulation is the process of supervising and controlling the financial sector in order to protect the interests of consumers, promote market stability, and ensure that the financial system operates in an ethical and transparent manner. The primary objective of financial regulation is to maintain the stability of the financial system … Read more

Microeconomics I. Introduction A. Definition of Microeconomics Microeconomics is a branch of economics that focuses on the behavior and decision-making of individuals, firms, and other smaller units of an economy. It analyzes the allocation of limited resources to meet the unlimited wants and needs of individuals and businesses, as well as the impact of these … Read more

Macroeconomics Macroeconomics is the branch of economics that deals with the study of the economy as a whole, rather than the individual parts that make it up. It is concerned with the big picture of how the economy functions, including topics such as economic growth, inflation, unemployment, and trade. Understanding macroeconomics is important because it … Read more

Karl Marx Karl Marx was a German philosopher, economist, sociologist, and journalist who lived from 1818 to 1883. He is best known for his theories on communism, which he developed in his most famous work, “Das Kapital”. Marx’s economic theories are based on the labour theory of value, which states that the value of a … Read more

Friedrich Hayek Friedrich Hayek was an Austrian-British economist and philosopher who was a prominent figure in the 20th-century economics and political theory. He is best known for his contributions to the Austrian School of Economics, particularly his critiques of central planning, socialism, and government intervention. Hayek’s main contribution to economics is his theory of spontaneous … Read more

Milton Friedman Milton Friedman was an American economist and statistician who made significant contributions to the field of economics. He was born in Brooklyn, New York in 1912 and passed away in 2006. Friedman is widely considered as one of the most influential economists of the 20th century, and was a leading figure in the … Read more

John Maynard Keynes John Maynard Keynes was a British economist who lived from 1883 to 1946. He is considered one of the most influential economists of the 20th century and is best known for his ideas on macroeconomic policy and his contributions to the development of modern macroeconomics. Keynes is most famous for his ideas … Read more

Adam Smith Adam Smith was a Scottish philosopher and economist who is widely regarded as the father of modern economics. He lived from 1723 to 1790 and his most famous work, “The Wealth of Nations”, was published in 1776. Smith’s central idea was that individuals pursuing their own self-interest would inadvertently create a better society … Read more

Great Economists It is difficult to determine the greatest economists of all time as the field of economics is vast and encompasses a wide range of theories and ideologies. However, here are some of the most influential economists and a brief summary of their contributions: Adam Smith – Considered the father of modern economics, he … Read more

Paul Volcker Paul Volcker was an American economist and banker who served as the Chairman of the Federal Reserve from 1979 to 1987. He was born on September 5, 1927 in Cape May, New Jersey. Volcker earned a bachelor’s degree in economics from Princeton University and went on to obtain a PhD in economics from … Read more

Alan Greenspan Alan Greenspan was an American economist and central banker who served as the chairman of the Federal Reserve of the United States from 1987 to 2006. He was born in New York City on March 6, 1926. Greenspan graduated from New York University in 1950 with a degree in economics, and later earned … Read more