Archives: Terms

Definition of Hiring Freeze A hiring freeze is a temporary measure taken by an organization or government agency to limit or eliminate the hiring of new employees for a certain period of time. This is usually done as a cost-cutting measure to address financial challenges or to align the workforce […]

Definition of Heterodox Economics Heterodox economics refers to a perspective or school of thought in economics that differs from mainstream or neoclassical economics. It encompasses a wide range of theories, approaches, and methodologies that challenge or deviate from the dominant economic theories and assumptions. Example One example of a heterodox […]

Introduction to Herbert A. Simon Herbert A. Simon was an American economist, political scientist, and cognitive psychologist who made significant contributions to various fields. He was born on June 15, 1916, in Milwaukee, Wisconsin, and passed away on February 9, 2001. Simon was known for his interdisciplinary approach, combining insights […]

Definition of Help-Wanted Index (HWI) The Help-Wanted Index (HWI) is a measure of the strength of the labor market. It is calculated based on the number of job advertisements placed by employers in newspapers and online job portals. The HWI provides insights into the demand for labor and can be […]

Definition of Helicopter Drop (Helicopter Money) Helicopter Drop, also known as Helicopter Money, is a monetary policy tool in which a central bank injects a large amount of money directly into the economy, typically by giving it to the public or funding government spending. The term “helicopter drop” comes from […]

Definition of Hedonic Treadmill The Hedonic Treadmill is a theory that explains how humans tend to return to a relatively stable level of happiness or satisfaction after experiencing positive or negative events in their lives. According to this theory, individuals adapt to changes in their circumstances and eventually revert to […]

Definition of Hedonic Pricing Hedonic pricing is a method used to determine the relative value of different attributes or characteristics of a product or service. It is based on the idea that the price of a good or service is determined by its various characteristics, such as size, location, quality, […]

Definition of Heckscher-Ohlin Model The Heckscher-Ohlin Model is an economic theory that explains international trade patterns based on the relative availability and price differences of factors of production, such as labor, capital, and natural resources, between countries. The model suggests that a country will specialize in and export goods that […]

Definition of Heavy Industry Heavy industry refers to industries that produce large, bulky, and heavy products or goods through labor-intensive and capital-intensive processes. These industries typically involve the extraction, refining, or manufacturing of raw materials and components that are used for construction, infrastructure development, and manufacturing of machinery and equipment. […]

Definition of Headline Inflation Headline inflation refers to the overall increase in the price level of goods and services in an economy. It measures the average price change of a basket of goods and services that is representative of the entire economy. Headline inflation is commonly tracked through consumer price […]