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Business management> Notes > FINANCIAL ECONOMICS WEEK I PART 2/2: INDIVIDUAL SAVING AND INVESTMENT DECISIONS

FINANCIAL ECONOMICS WEEK I PART 2/2: INDIVIDUAL SAVING AND INVESTMENT DECISIONS

Study consumption patterns over one’s life time.  A topic of microeconomics, macroeconomics, and financial economics.  The latter two fields build their theories on the micro foundations.  Key results:  Consumers smooth their consumption over lifetime; they save when they are rich, and dissave when they are poor.  Permanent income hypothesis  Consumption is largely determined by permanent income, rather than transitory income. ... [Show More]

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