Economics As A Collection Of Analytical Tools

Economics as a collection of analytical tools - concepts of rationality, opportunity cost, comparative advantage and the margin

Economics is been described as a set of analytical tools outlined to tackle different problems (Gowland and Paterson, 1993). Bill Gerrard asserts that the concept of rationality is the core of modern economics. His work “The Economics of Rationality” contains a lot of critical perspectives on the interpretation of rationality in economics.
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