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- Application Deadline:2018/06/05
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Hunan Normal University is located in Changsha, the capital of Hunan Province, a city of beautiful scenery and outstanding intellectuals. Hunan Normal University has inherited the great tradition of the broad and profound Huxiang Culture and has culti
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1. Click “Apply Now” button at the top of the page.
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Western Economics refers to the paradigm of political economy that has emerged and prevailed in Western countries. It narrowly refers to the Western paradigm of political economics and broadly includes Marxist political economics paradigm. Western economics and Oriental economics are different economic paradigms. Western economics is mainly a paradigm concept, not just a geographical concept. Since the reform and opening up, the neo-liberal economics of popular China have also belonged to Western economics.
Western economics is applied to the economics of western market economy countries, which is currently called "mainstream economics". Because it pays special attention to the study of market mechanisms, it also has the title of market economics. It is marked by the publication of Adam Smith's The Wealth of Nations in 1776.[4] Western economic qualifications have been vicissitudes for more than 200 years. In this not-so-long historical process, from Adam Smith, David Ricardo, Say, Muller, Malthus, Marshall to Keynes, Milton Friedman, Samuelson, Lucas Stiglitz, a master of western economics; from classical economics, neo-classical economics to Keynesian economics, neoclassical macroeconomics, and New Keynesian economics, the Western economics school is everywhere. Hundreds of flowers flourished and one hundred schools of thought contend, bringing with it the constant innovation and development of Western economics, and even the name of "economic empire" in Western economics literature.
