Show Less
Restricted access

Sustainability and Welfare Policy in European Market Economies

Series:

Jürgen Plöhn and George Chobanov

The articles in this volume are selected from the contributions to two international conferences. Authors and teams tackle general economic approaches and developments with respect to new concepts for the production possibility frontier, the connection of development and exports diversification and improvements to the business process. Other contributors address economic sustainability with respect to an institutional path to sustainable growth, available financial instruments, behavioral models of economic expectations, solutions for waste treatment as well as to technological aspects related to security, privacy and IT governance. Finally, a third group of authors discusses health policy in the EU and postsecondary education in Bulgaria as aspects of public welfare.

Show Summary Details
Restricted access

Production Possibility Frontier: New Concepts for Post-Crisis Economics Textbooks (Henrik Egbert / Nadeem Naqvi / Teodor Sedlarski)

Extract

Henrik Egbert / Nadeem Naqvi / Teodor Sedlarski

(Anhalt University of Applied Sciences, Bernburg, Germany – KIMEP University, Almaty, Kazakhstan – Sofia University “St. Kliment Ohridski”, Sofia, Bulgaria)

Production Possibility Frontier: New Concepts for Post-Crisis Economics Textbooks

Abstract: The crisis of 2008 has shown that some economic models do not provide reliable guidance for economic policy. As a result, a discussion on what to teach in economics has started within the discipline. This paper contributes to this discourse by referring to the model of the Production Possibility Frontier (PPF) used in principles courses in economics. The authors show how the model of the PPF can be used for teaching economics beyond neoclassical standard assumptions. We introduce endogenous change and transaction costs in the model, in this way making it more applicable and effective in teaching economic policy.

1. Introduction

You are not authenticated to view the full text of this chapter or article.

This site requires a subscription or purchase to access the full text of books or journals.

Do you have any questions? Contact us.

Or login to access all content.