Ompare and contrast Austrian and Post-Keynesian theories of the competitive process
It is an economics essay in the area of Business Economics.
it is a 2000 words essay.
This is an essay that aims to compare and contrast the Austrian theories and Post-Keynesian theories in terms of the competitive process therefore it is quite critical that you address both theories and relate them to the competitive process and compare and contrast them.
Below is some ideas for how you can structure the essay:
Divide them into sections
1. Please start with an introduction of Classical theory but focus on Austrian theory which is the theory derived from the classical theory. Then introduce Post-Keynesian theory.
2.1 talk about:
~Austrian (main focus see Von Mises below) Market Dynamics
~For Austrian Theory, do talk about
Menger(1871) subjectivivism, Growth, uncertainty
Von HAYEK Knowledge, Market Order, Individualism
(Focus of this section) Von Mises(Main focus of Austrian Theory) ENTREPRENEURSHIP which is central to how economy works(competition) , DYNAMICS(Non-equilibrium)
~Modern Austrian Theory, talk about radical subjectivism, fundamental uncertainty , entrepreneurship based on Mises view on competition), co-ordination vs. multiple trajectories.
~Austrian approach and (competition relating to market process)(see LECTURE 24-39) (DO NOT USE FOR ESSAY)
~Austrian Theory of agency
~summarize and analyze the austrian approach. (Focus on competitive process)
2.2 talk about: (see LECTURE 38-52) (DO NOT USE FOR ESSAY)
~P-K Theory and P-K Pricing Theory
~P-K view of competition
3. compare and contrast the two theories (More focus) (Plenty of analysis)
4. Conclusion (Solid conclusion on the topic)(Evaluation)
P.S. please do not focus on Neoclassical and Schumpeterian nor Marxian
Please look at the attached document possible sources and see if it is relevant for use for the essay.
Please use the Harvard style of referencing.
With Bibliography at the end of the essay.
Sources that I suggest for reading is purely for your reference and some sources are general, please DO NOT use the sources that are not related to the topics even with the ones that I provided you with.
PLEASE DO NOT USE the attached document (LECTURE SLIDES) for the essay. It is simply to give you an idea of what is covered under the topic.
Ompare and contrast Austrian and Post-Keynesian theories of the competitive process.
The reference is a compulsory reading information for the essay.
however it is possible to use other information for the essay
1.journal of economic literature Vol.xxxv (march 1997) pp.60-85
–>Entrepreneurial Discovery and the Competitive Market Process: An Austrian Approach
2. Marclavsie (1992) Foundation of Post-Keynesian Economic Analysis, Edward Elyor
–> Theory of the firm