Talk:Partial equilibrium

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Just a few small comments, although I'm not an economist...

1. At first reading a really good article.
2. Good content, no copyright problems that I can see.
3. Could be a little easier for the layman to understand - at present it's good for an economist to read, but a non-economist might struggle to understand parts of it.
4. Article is made up of a lot of very small paragraphs - groups of one or two sentences. There's room for improvement ther - perhaps we should move some of the sentences into larger paragraphs?

Anyway, it really needs an economist to look at it and double-check, but from what I can see, it's rather good! The Cavalry (Message me) 18:31, 14 October 2011 (UTC)Reply

I am on cloud 9 after receiving a BarnStar from you... its a bigggg thing for me, keeping in mind the fact that i was ones blocked!! :D

thank you sooo much! :)

Well, I'll be making all the required changes as suggested by you, very soon. There is a lot more to add to this article, but could u please suggest me how make this article worthy of A-class from the C-class that I have got. I really want to make it one of the bests articles in wikipedia. Please keep suggesting me and help me to make it better.

Thank you again

Cheers!

Anu2033 (talk) 05:51, 15 October 2011 (UTC)Reply

I am a PhD economist. have edited this article quite a bit, but it still needs a lot of work. The idea of partial equilibrium is to look at one good's price and quantity at a time. In general equilibrium, on the other hand, the analysis looks at feedback effects between markets. This distinction is completely different from perfect competition versus imperfect competition, which can be analyzed either way (though almost always partial equilibrium analysis is used for imperfect competition). Also, both analyses use the assumption of ceteris paribus, other things being equal, although general equilibrium keeps fewer things equal because it allows for change in the prices and quanties of all goods. They both, however, assume that such things as tastes, technology, and government policy are unchanged except for the one exogenous shock under analysis.

What this article really needs is a numerical example to illustrate the difference between partial and general equilibrium, perhaps for an economy with just two goods.

It should also be pointed out that virtually all economic analysis is partial equilibrium, just as virtually all scientific analysis looks at one phenomenon at a time (one planet's weather, one organ's operation, etc.).

This article was the subject of an educational assignment at Symbiosis School of Economics supported by Wikipedia Ambassadors through the India Education Program during the 2011 Q3 term. Further details are available on the course page.

The above message was substituted from {{IEP assignment}} by PrimeBOT (talk) on 20:08, 1 February 2023 (UTC)Reply