Economics lost a giant last week when William Baumol, an economist who taught at Princeton and New York University, passed away at the age of 95. With his colleague, William Bowen, Baumol proposed the ...

Beyond benchmark measures like employment, growth, and inflation, economics encompasses the full spectrum of humanity. It affects—and reflects—everyone. Central bankers may be most acutely aware of ...

In this paper, the author introduces the theory and method of transaction cost economics to identify the essence of e-commerce model by explicating its core objective and function. From the ...

Caroline Banton has 6+ years of experience as a writer of business and finance articles. She also writes biographies for Story Terrace. Yurle Villegas / Investopedia The theory of price states that ...