Coverart for item
The Resource Newtonian Microeconomics : A Dynamic Extension to Neoclassical Micro Theory, by Matti Estola, (electronic resource)

Newtonian Microeconomics : A Dynamic Extension to Neoclassical Micro Theory, by Matti Estola, (electronic resource)

Label
Newtonian Microeconomics : A Dynamic Extension to Neoclassical Micro Theory
Title
Newtonian Microeconomics
Title remainder
A Dynamic Extension to Neoclassical Micro Theory
Statement of responsibility
by Matti Estola
Creator
Subject
Language
eng
Summary
Presenting the dynamic laws of economic quantities, this book tackles one of the core difficulties of current economic theory: that of transforming abstract equations of equilibrium into precise dynamic rules. The theoretical framework of neoclassical micro theory has historically prohibited its development into a quantitative science. Estola identifies the main weaknesses of this framework as follows: 1) Static optimization does not allow for the modelling of time-dependent production and consumption flows; 2) The assumption of optimal behaviours forecloses any understanding of changes in economic quantities, as none will change its optimal behaviour. The author of this title assumes that economic units tend to better their situation where possible. The book demonstrates how this approach leads to an analogous framework in economics to the Newtonian framework in physics. The 'forces' acting upon economic quantities are defined that either cause adjustment toward an equilibrium state or keep the system in motion with time. In this way, the neoclassical framework corresponds to a 'zero-force' situation. Introducing a system of measurement units for economic phenomena, Estola applies this throughout, and thereby illuminates a way for microeconomics to meet the minimum requirements of quantitative analysis.--
Assigning source
Provided by publisher
http://library.link/vocab/creatorName
Estola, Matti
Image bit depth
0
Literary form
non fiction
Nature of contents
dictionaries
Series statement
Springer eBooks.
http://library.link/vocab/subjectName
  • Physics
  • Economic theory
  • Microeconomics
  • Labor economics
  • Economics
  • Economics
  • Economic Theory/Quantitative Economics/Mathematical Methods
  • Microeconomics
  • History of Economic Thought/Methodology
  • Economic Systems
  • Labor Economics
  • Mathematical Methods in Physics
Label
Newtonian Microeconomics : A Dynamic Extension to Neoclassical Micro Theory, by Matti Estola, (electronic resource)
Link
https://eui.idm.oclc.org/login?url=http://dx.doi.org/10.1007/978-3-319-46879-2
Instantiates
Publication
Antecedent source
mixed
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Color
not applicable
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
Chapter 1: Economics as a Science -- Chapter 2: Measuring in Economics -- Chapter 3: Economic Systems -- Chapter 4: Consumer Behaviour -- Chapter 5: The Behavior of Firms -- Chapter 6: Goods' Markets -- Chapter 7: Labor as a Productive Factor -- Chapter 8: Capital Goods as Firms' Input -- Chapter 9: Elasticities and the Market Mechanism -- Chapter 10: Fundamentals of Financial Markets -- Chapter 11: Saving, Borrowing and Interest Rate -- Chapter 12: Mathematical Appendix.
Control code
978-3-319-46879-2
Dimensions
unknown
Extent
1 online resource (XVIII, 464 pages)
File format
multiple file formats
Form of item
  • online
  • electronic
Governing access note
Use of this electronic resource may be governed by a license agreement which restricts use to the European University Institute community. Each user is responsible for limiting use to individual, non-commercial purposes, without systematically downloading, distributing, or retaining substantial portions of information, provided that all copyright and other proprietary notices contained on the materials are retained. The use of software, including scripts, agents, or robots, is generally prohibited and may result in the loss of access to these resources for the entire European University Institute community
Isbn
9783319468792
Level of compression
uncompressed
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.1007/978-3-319-46879-2
Other physical details
97 illustrations, 52 illustrations in color.
Quality assurance targets
absent
Reformatting quality
access
Specific material designation
remote
System control number
(OCoLC)970617174
Label
Newtonian Microeconomics : A Dynamic Extension to Neoclassical Micro Theory, by Matti Estola, (electronic resource)
Link
https://eui.idm.oclc.org/login?url=http://dx.doi.org/10.1007/978-3-319-46879-2
Publication
Antecedent source
mixed
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Color
not applicable
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
Chapter 1: Economics as a Science -- Chapter 2: Measuring in Economics -- Chapter 3: Economic Systems -- Chapter 4: Consumer Behaviour -- Chapter 5: The Behavior of Firms -- Chapter 6: Goods' Markets -- Chapter 7: Labor as a Productive Factor -- Chapter 8: Capital Goods as Firms' Input -- Chapter 9: Elasticities and the Market Mechanism -- Chapter 10: Fundamentals of Financial Markets -- Chapter 11: Saving, Borrowing and Interest Rate -- Chapter 12: Mathematical Appendix.
Control code
978-3-319-46879-2
Dimensions
unknown
Extent
1 online resource (XVIII, 464 pages)
File format
multiple file formats
Form of item
  • online
  • electronic
Governing access note
Use of this electronic resource may be governed by a license agreement which restricts use to the European University Institute community. Each user is responsible for limiting use to individual, non-commercial purposes, without systematically downloading, distributing, or retaining substantial portions of information, provided that all copyright and other proprietary notices contained on the materials are retained. The use of software, including scripts, agents, or robots, is generally prohibited and may result in the loss of access to these resources for the entire European University Institute community
Isbn
9783319468792
Level of compression
uncompressed
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.1007/978-3-319-46879-2
Other physical details
97 illustrations, 52 illustrations in color.
Quality assurance targets
absent
Reformatting quality
access
Specific material designation
remote
System control number
(OCoLC)970617174

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