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economics state that utility always increases with income. In reality, consumers do not always make decisions rationally due to various factors such as social norms, emotions, prices of goods and choices of goods available. Therefore, econo...
Medical Education (ACGME) revamped post- graduate medical learning in the US, introducing six medical "competencies. Medical knowledge, professionalism, communication practice based learning, systems-based and patient care are the six domai...
of economic principles to politics. It is most often considered to be an area of study lying between market exchange “economics” and “political science” ideologies, although some scholars consider it to be more a branch of economics. Public...
economics of education) is the study of economic issues relating to education, including the demand for education, and financing and provision of education. Economists have an excellent positive model of the individual/household demand for ...
behavioural economics. Behavioural economics goes on to explain these anomalities through the reference of psychological insights. Economists are of the view that we can not just study the behaviour of humans as a black box. This means that...
the thinking on the governments. The decisions taken by the government are taken while keeping in mind the current situation at that time. Most of the decisions taken prior to any particular event are mainly based on value judgments rather ...
The lens of contract approach to the study of economic organization is partly complementary but also partly rival to the orthodox lens of choice. Specifically, whereas the latter focuses on simple market exchange, the lens of contract is p...