Classic Economic Models
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Microeconomics ...
Economic model - A formal presentation of an economic theory.
Economic order quantity (EOQ) - The level of stock order which minimises ordering and stock holding costs.
economic model an explanation of how the economy or part of the economy works. (1)
economic profits total revenue minus total costs, where total costs include opportunity costs, whether implicit or explicit. (9) ...
An economic model which maintains that the growth rate of gdp depends upon the level of savings and the capital output ratio. ...
[edit] Economic modelling
A diagram of the IS/LM model
Economic modelling is the theoretical representation of economic processes by a set of variables and a set of logical and/or quantitative relationships between them.
economic modeling technique that seeks to explain in mathematical terms the relationships between key economic variables such as capital spending, wages, bank interest rates, population trends, and also government fiscal and monetary policies.
An economic model of a market process in which orders are collected into batches of buys and sells and then analyzed to determine a clearing price that will decide the market price. Also referred to as "call market".
An economic model relating the price level and real production that is used to analyze business cycles, gross production, unemployment, inflation, stabilization policies, and related macroeconomic phenomena.
In an economic model, a multiplier is a number that quantifies the relationship between the change in one economic quantity and the change in another directly related economic quantity. For example, consider the simple deposit multiplier.
Inside the economic model; the opposite of EXOGENOUS (see also GROWTH).
Engel's law ...
The standard economic model of human behavior includes three unrealistic traits-unbounded rationality, unbounded willpower, and unbounded selfishness-all of which behavioral economics modifies.
Definition: An economic model which maintains that the growth rate of GDP depends upon the level of savings and the capital output ratio.
Related glossary term:
Capital Output Ratio ...
Neoclassical microeconomic model - Supply
Households are suppliers of labor. In microeconomics theory, people are assumed rational and seeking to maximize their utility function.
The assumption in an economic model that a country is too small to affect world prices, incomes, or interest rates.
Small open economy ...
Ceteris paribus All things being equal, a term often used in economic modelling.... CFA Chartered financial analyst: a qualification for analysts linked to membership of a professional organisation....
The contemporary economic model of rational expectations offers perhaps the strongest critique of economic planning in its assertion that economic forecasting, both by individuals and competing businesses, is generally rational.
It is important to note here the difficulties of contrasting developed and young economies as if there were only 2 economic models. Many developed economies have semi-controlled market economies.
The capital asset pricing model is an economic model that shows that, in equilibrium, risk averse investors in an otherwise perfect economy will price only the systematic risk of a security, (i.e.
A price protection guarantee provides a powerful incentive for building online customer loyalty in an economic model that allows for easy comparative shopping and highly competitive pricing.
Subsequent modeling of the economic impact of climate change has sought to integrate scientific models of the global climate and economic models of future world economic growth.
New Keynesian economics Economic models based on the idea that demand creates its own supply as a result of various possible government fiscal and monetary coordination failures.
2. Methodological individualism. Austrian economists have placed the individual at the centre of their economic models. It is argued that it is not easy to provide general models assuming certain behaviour.
Discrete time
The division of time into indivisible units. In economic models, these units represent periods, such as days, quarters, or years.
Quantitative Easing: What's In A Name?
The Taylor Rule: An Economic Model For Monetary Policy
Quantitative Trading ...
econometric model: An economic model formulated so that its parameters can be estimated if one makes the assumption that the model is correct.
Contexts: estimation; econometrics ...
Investment Review Board
Investment Risk
Investment Risk
Investment Savings - Liquidity Money (macroeconomic model)
Investment Savings Account
Investment Savings Account ( UK tax-free investment account)
Investment scheme ...
Climate-economic models, as e.g. the ICES (Bosello et al., 2007) and the WITCH (Bosetti et al.,2006) models, translate climate changes into their socio-economic impacts.
 See also: Macroeconomics, Microeconomics, Equilibrium, Perfect competition, Business cycle
  
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