This paper aims to integrate the money market into the structure of the economy. The microfoundation is the starting point to define the money market and the general equilibrium mechanism of the economy. On this basis, this research seeks a linking mechanism of the money market with economic...

This chapter explores the value concept that is much important to define market equilibrium and explain market behaviors in the economy. Marginal principle is used to determine supply functions in the market structure that provide rational choices in production and consumption. However, rational...

This paper explores the value concept to understand the notions of value and price that form the base of value theories. Since value is more appreciate than utility in explaining value creation and value distribution in the today’s society and economy, the theory of value is amended to conduct...

The explanation of the price and value of real estate is still a big challenge that limits forecasting the market value, and explaining bubbles and crashes in the real estate market. Thus, this paper extends the theory of market equilibrium to redefine the value concept for explaining market...