The Royal Swedish Academy of Sciences on Monday awarded the Nobel Memorial Prize in Economic Sciences to Northwestern University professor and Reason contributor Joel Mokyr "for having identified the ...

Discover how microeconomics focuses on individual and business decisions, while macroeconomics analyzes the broader economic ...

For more than a century, UChicago scholars’ groundbreaking theories have redefined the field of economics—from Milton Friedman’s ideas on monetary policy and Gary Becker’s theory of human capital to ...

A contraction is the phase of the business cycle when the economy declines, often with falling real GDP and rising unemployment, moving from peak toward trough (expansion, peak, contraction, trough).

David Kindness is a Certified Public Accountant (CPA) and an expert in the fields of financial accounting, corporate and individual tax planning and preparation, and investing and retirement planning.