Exploring economic theory: A comprehensive literature review

Rupam Soti *

Associate Professor, Department of Economics, Mihir Bhoj PG College, Dadri, G.B. Nagar, India
 
Review
International Journal of Science and Research Archive, 2020, 01(01), 069–076.
Article DOI: 10.30574/ijsra.2020.1.1.0040
Publication history: 
Received on 10 November 2020; revised on 19 December 2020; accepted on 21 December 2020
 
Abstract: 
Economic theory provides valuable insights into the behavior of individuals, firms, and markets, and helps in formulating effective economic policies. The aim of this review paper is to provide a comprehensive analysis of the theory of economics based on a thorough literature review. In order to conduct a comprehensive literature review on the theory of economics, a rigorous methodology was employed to ensure a systematic and inclusive approach to the selection and analysis of relevant scholarly works. The findings of the literature review are presented, focusing on the historical overview of economic theory, analysis of microeconomic and macroeconomic theories, examination of interdisciplinary approaches, exploration of contemporary debates, and identification of potential avenues for future research. This review paper has provided a comprehensive analysis of economic theory based on a literature review. It has underscored the contributions of various economic theories, their evolution over time, and the challenges and debates faced by the field. Moving forward, further research should focus on refining economic models, integrating interdisciplinary perspectives, accounting for real-world complexities, and addressing the emerging challenges posed by social, environmental, and technological factors.
 
Keywords: 
Economic Theory; Review Paper; Microeconomic; Macroeconomic; Interdisciplinary Approaches
 
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