Modern economic theories in the framework of economic science.

Экономическая теория является одной из важнейших disciplines of economics. Within its framework, philosophical and theoretical postulates are set, a comprehensive study of the market takes place. In a narrow sense, the concept of economic theory involves a set of principles that help choose the most effective ways to meet unlimited needs with the help of limited resources. In other words, this is global management, which includes many schools and trends.

Свои истоки наука берёт в третьем веке до нашей era in several countries of the Ancient East. An ancient monument of economic thought can be considered the "Laws of Manu" of ancient India. Plato and Aristotle gave a strong push in development. They divided and supplemented the scientific thought of the ancient Greek philosophers in ancient Rome.

One of the main methods of science isGraphic modeling, that is, economic theories carry various models in their striving to explain a particular process. A big role is played by forecasting, the ability to predict the course of global economic processes often determines the consistency of a particular doctrine.

Also, economic theories are actively used to develop practical recommendations on:

• lower inflation;
• GDP growth;
• cost optimization;
• development of individual industries.

This science is dynamic, within its framework constantlynew economic theories appear and old ones are supplemented. This inevitable process is associated with regular changes in the market. The history of economic doctrines is designed to track and analyze such changes through a historical lens.

In a global sense, all economic theories set themselves the task of most accurately transferring the real economy, explaining changes and deviations.

Modern economic theories:

• Neo-Keynesianism is a macroeconomic school teaching based on the work of John Keynes.
• Monetarism is a macroeconomic theory that considers the amount of money in circulation to be the cornerstone of the economy. The Nobel Laureate Milton Friedman laid the foundation for the theory.
• The new institutional theory is a doctrine that analyzes social institutions through the prism of economic theory. Often confused with institutionalism, but there is no direct connection between these teachings.
• Austrian School (also known as Vienna,Psychological) - direction, defending the principles of economic liberalism: freedom of conditions of transactions, minimizing state intervention in the economy. According to the approach of the Vienna School, economics is extremely difficult to analyze (it raises the question of the possibility of real forecasting) because of the many determining factors and the complex nature of human economic behavior.
• New political economy is one of the mostresearched exercises in the framework of modern economic theory, analyzing the behavioral mechanisms of politicians, officials, the media and the electorate through the prism of the market and the economy. Within its framework, there is a rejection of the concept of an “ideal state”, which is designed to take care of citizens. This theory implies that the contradictions between the participants in this process are the cause of corruption.