Academic Class : Economics Theory

FE UNIBA - 1st semester, 2022/2023

Lectures/Class Mgr. : Andi M. Lutfi
email : andi_mulyadi_lutfi@yahoo.com

UNIVERSITAS BATAM - FAKULTAS EKONOMI

SEMESTER GANJIL - 2022/2023
Mata Kuliah : Economics Theory
Kode : MKK023410
Dosen Pengasuh : Andi M. Lutfi, SE, Msi
Class : Manajemen / Akuntansi
THEORY EXPLANATION
Major Assignments No. 09
Table A : List of Participants
2nd 3rd Rebutter
No. Economic Theories 1st Explanation by : Explanation Explanation Notes
by : by : A B

1 Adverse Selection and the Lemons Problem Muhammad Kholik

2 Arrow’s Impossibility Theorem Ilham Maulana
3 Cobweb theory Dewa Aji Restu
4 Cournot competition Tino Sukirno
5 Creative destruction Asnira
6 DSGE models Marsya Ramadana
7 Ecological model of competition Muhammad Ridho
8 Efficient market hypothesis Mega Kurnia
9 Evolutionary economics Franlis
10 Financial accelerator mechanism Rindu Kendedes
11 Financial instability hypothesis Christian Satrio
12 Goodhart's law Wulan Octa
13 Hotelling's rule Sri Anggraini
14 Income Inequality Theories Depita Sutalaksana
15 Khazzoom–Brookes postulate Esti Yuliani
16 Kinetic exchange models of markets Muhammad Kholik
17 Lewis Turning Points Ilham Maulana
18 Lucas critique Dewa Aji Restu
19 Marxian Labor Theory of Value Tino Sukirno
20 Modern monetary theory Asnira
21 New Growth theory Marsya Ramadana
22 Non-equilibrium economics Muhammad Ridho
23 Polluter Pays Principle Mega Kurnia
24 Solow Growth Model Franlis
25 Steady state economics Rindu Kendedes
26 The Gordon-Schaefer model Christian Satrio
27 The Shutdown Rule Wulan Octa
28 The structural theory of Inflation Sri Anggraini
29 Theory of Central Bank Independency Depita Sutalaksana
30 Tragedy of the Commons Esti Yuliani

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 Academic Class : Economics Theory
FE UNIBA - 1st semester, 2022/2023
Lectures/Class Mgr. : Andi M. Lutfi
email : andi_mulyadi_lutfi@yahoo.com
31 Veblen and Conspicuous Consumption
32 Welfare Theorems

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 Academic Class : Economics Theory
FE UNIBA - 1st semester, 2022/2023
Lectures/Class Mgr. : Andi M. Lutfi
email : andi_mulyadi_lutfi@yahoo.com

UNIVERSITAS BATAM - FAKULTAS EKONOMI

SEMESTER GANJIL - 2020/2021
Mata Kuliah : Economics Theory
Kode : MKK023410
Dosen : Andi M. Lutfi, SE, Msi
THEORY EXPLANATION
Class : Manajemen / Akuntansi
Major Assignments (HW) No. 09
Table B. : Time table
Due date (Class):
No. Description Notes Done by
Class Date
A Assignment received
B 1st Explanation
C 2nd Explanation
3rd Explanation posted to
D
class
E Questions posted by rebutter
F Discussion I
G Discussion II
H Final version submited

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 Academic Class : Economics Theory
FE UNIBA - 1st semester, 2022/2023
Lectures/Class Mgr. : Andi M. Lutfi
email : andi_mulyadi_lutfi@yahoo.com

Mata Kuliah : Teori Ekonomi Rec. date : .............. 2022

Dosen Pengasuh : Andi M. Lutfi, SE, MSi. Posted date : .............. 2022
Prodi : Management - Acounting Assignment : Individual - Rollover
Major Assignments (HW) no. 09

Group no : (leave it blank)

Assigned to ;
1. (Name 1)
2. (Name 2)
Economic Theories
3. (Name 3) A brief Profile
4. (Name of Rebutter 1)
5. (Name of Rebutter 2)
FRANLIS (21121022)
Signature
1. Evolutionary Economics

Guiding questions Descriptions Ref.

… the theory / Evolutionary economics tries to explain behavior and economic progress in terms of
hypothesis / model evolution and human evolutionary instincts such as predation, competition, and curiosity.
A was created to This field explores how human behavior, such as our sense of justice and fairness, extends 1.
address the problem to the economy.
of .. ?

Evolutionary economics is a theory that states that economic processes develop and that
economic behavior is determined both by individuals and by society as a whole. The term
.. Who created or
was first coined by Thorstein Veblen (1857-1929), an American economist and
B developed those 2.
sociologist. And there is also pioneered by Nelson and Winter (1982) who incorporate
theories ?
the concepts of implicit knowledge (tacit knowledge) and routines into the dynamics of
competition from Shumpeter's.

Veblen uses the example of hierarchy and social status to get his point across, noting that
.. Break it down !/ demand for some goods tends to increase when prices are higher — otherwise known as
C how the theory conspicuous consumption. Veblen made use of many fields of study, including 3.
works ? anthropology, sociology, psychology, and Darwin's principles.

Veblen in his book The Theory of the Leisure Class, and The Theory of Business Enterprise,
tries to describe the Consumer Motivation and Entrepreneurial Behavior that he studied.
Veblen was dissatisfied with the conditions of the people around him, he often saw past
.. briefly describe situations which he judged to be better than the current situation and circumstances,
the future especially in American society which he observed.
D 4.
application of the Furthermore, Veblen explains the similarity of the behavior of American entrepreneurs with
theory ! the consumption behavior described above. Veblen also saw that the behavior of American
entrepreneurs in his time had undergone many changes. In the past, entrepreneurs
generally produced goods and services to earn a profit by working hard. However,
nowadays profit or partial profit is no longer obtained through hard work by creating goods

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 Academic Class : Economics Theory
FE UNIBA - 1st semester, 2022/2023
Lectures/Class Mgr. : Andi M. Lutfi
email : andi_mulyadi_lutfi@yahoo.com
that consumers like, but to seek profit they do so through business tricks. This kind of
production is called production for profit.
The pattern of behavior as above occurs in American society, but it is possible that this
pattern of behavior also occurs in Indonesian society today. With Veblen's theory, we know
that actually people's behavior patterns also need to be regulated both in production and
consumption.

A different view comes from Douglas North (University of Washington, Missouri, USA
1993). North received this prestigious award for his outstanding service in updating
research in the history of the economics of quantitative methods research. According to
North, the institution is a little different from what Veblen said was the founder of the
school itself. If for Veblen institutions are defined as norms, values, traditions and culture,
.. are there any
for the North, institutions are laws and regulations along with the nature of coercion and
critiques on the
rules and behavioral norms that shape human interaction repeatedly. In this case the North
theory ?, are there
E is not an institution as an institution, but primarily the consequences of those institutions 5.
any competing /
on the choices made by members of society. For countries that want to develop, it is
alternative theories
necessary to develop an official system of contracts, copyrights, trademarks and so on,
?
which is equipped with a monitoring system and a prosecution mechanism for violators of
the regulations that have been made. Without the presence of institutions, the transaction
costs of trading and trying to be high. Traders are exposed to the risk of fraud, extortion,
physical threats and other forms of uncertainty. The existence of institutions is very
important as a tool to regulate and control economic actors in the market.

Key words :
The Theory of the Leisure Class, The Theory of Business Enterprise, Motivasi Konsumen, Perilaku Pengusahan, production
for profit.

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