Vocab Bloom Hub

economic theory

/ˌiːkəˈnɒmɪk ˈθɪəri/

1 entry

phrase

/ˌiːkəˈnɒmɪk ˈθɪəri/C1formalbusiness
  • ruШирокая область исследования, анализирующая производство, распределение и потребление товаров и услуг, охватывающая различные модели и принципы, используемые для объяснения того, как функционируют экономики и как агенты принимают решения.

A broad field of study that analyzes the production, distribution, and consumption of goods and services, encompassing various models and principles used to explain how economies function and how agents make decisions.

  1. Academic field of studyB2formal

    A systematic framework of principles and models used to explain and predict economic behavior and phenomena.

    ruЭкономическая теория

    • Keynesian economic theory emphasizes government intervention during recessions.
    • The professor lectured on the basics of classical economic theory.
    • Economic theory often uses mathematical models to analyze markets.
  2. Specific set of ideasB2formal

    A particular set of ideas or hypotheses about how an economy functions.

    ruЭкономическая теория

    • Monetarist economic theory focuses on the role of money supply.
    • Supply-side economic theory argues for lower taxes to stimulate growth.
    • This new economic theory challenges traditional views on inflation.