Institutional economics is a branch of economics that examines the influence of institutions—defined as the rules, norms, and organizations governing social and economic interactions—on economic behavior and performance. This article provides an overview of institutional economics, highlighting its key theoretical frameworks, including New Institutional Economics and Old Institutional Economics, as well as the Theory of…

Game theory is a mathematical framework used to analyze strategic interactions among rational decision-makers, focusing on players, strategies, and payoffs. This article explores the fundamental concepts of game theory, including its applications in economics, such as competitive behavior among firms, auction design, and negotiation strategies. It also addresses the limitations of game theory, highlighting assumptions…

Supply-side economics is an economic theory that focuses on enhancing economic growth by increasing the supply of goods and services through lower taxes and reduced regulations. This approach is believed to stimulate job creation and investment, with historical evidence from the 1980s supporting its potential benefits. However, supply-side economics has faced criticism for favoring the…