This paper presents a comprehensive literature review on applications of economic and pricing theory for resource management in the evolving fifth generation (5G) wireless networks. The 5G wireless networks are envisioned to overcome existing limitations of cellular networks in terms of data rate, capacity, latency, energy efficiency, spectrum efficiency, coverage, reliability, and cost per information transfer. To achieve the goals, the 5G systems will adopt emerging technologies such as massive Multiple-Input Multiple-Output (MIMO), mmWave communications, and dense Heterogeneous Networks (HetNets). However, 5G involves multiple entities and stakeholders that may have different objectives, e.g., high data rate, low latency, utility maximization, and revenue/profit maximization. This poses a number of challenges to resource management designs of 5G. While the traditional solutions may neither efficient nor applicable, economic and pricing models have been recently developed and adopted as useful tools to achieve the objectives. In this paper, we review economic and pricing approaches proposed to address resource management issues in the 5G wireless networks including user association, spectrum allocation, and interference and power management. Furthermore, we present applications of economic and pricing models for wireless caching and mobile data offloading. Finally, we highlight important challenges, open issues and future research directions of applying economic and pricing models to the 5G wireless networks.architecture and functionality needs of 5G. Horizon 2020 [2], the biggest EU Research and Innovation programme, provides funding for the 5G-Public Private Partnership (5G-PPP) to deliver solutions, architectures, technologies and standards for the ubiquitous 5G communications infrastructures.The primary technologies proposed for 5G are [3] massive Multiple-Input Multiple-Output (MIMO), dense Heterogeneous Networks (HetNets), mmWave communication, fullduplex communication, Device-to-Device (D2D) communication, energy-aware communication and energy harvesting, Cloud-Based Radio Access Networks (C-RANs), the virtualization of network resources, and so on. Compared to 4G cellular networks, 5G is expected to [3] (i) improve at least 1000 times of throughput, (ii) support higher network densification, (iii) reduce significantly latency, (iv) improve energy efficiency, and (vi) support a high density of mobile broadband users, D2D, ultra reliable, and massive Machine-Type-Communications (MTC).However, the adoption of the emerging technologies introduces challenges for the radio resource management such as user association, spectrum allocation, interference and power management. The reasons are (i) the heterogeneity and dense deployment of wireless devices, (ii) the heterogeneous radio resources, (iii) the coverage and traffic load imbalance of Base Stations (BSs), (iv) the high frequency of handovers, (v) the constraints of the fronthaul and backhaul capacities, and (vi) a large number of users and stakeholders wi...