Alternative spellings

Noun

Singular economics

Plural uncountable

economics (uncountable)

  1. (Social sciences) The study of resource allocation, distribution and consumption; of capital and investment; and of management of the factors of production.

Synonyms

Derived terms

  • -nomics

Related terms

From Wiktionary under the GNU Free Documentation License.
Mon Jul 26 19:29:48 2010

Economics is the social science that is concerned with the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek οἰκονομία (oikonomia, "management of a household, administration") from οἶκος (oikos, "house") + νόμος (nomos, "custom" or "law"), hence "rules of the house(hold)". Current economic models developed out of the broader field of political economy in the late 19th century, owing to a desire to use an empirical approach more akin to the physical sciences.

Economics aims to explain how economies work and how economic agents interact. Economic analysis is applied throughout society, in business, finance and government, but also in crime, education, the family, health, law, politics, religion, social institutions, war, and science. The expanding domain of economics in the social sciences has been described as economic imperialism.

Common distinctions are drawn between various dimensions of economics. The primary textbook distinction is between microeconomics, which examines the economic behavior of agents (including individuals and firms consumers and producers), and macroeconomics, addressing issues affecting an entire economy, including unemployment, inflation, economic growth, and monetary and fiscal policy. Other distinctions include: between positive economics (describing "what is") and normative economics (advocating "what ought to be"); between economic theory and applied economics; between mainstream economics (more "orthodox" dealing with the "rationality-individualism-equilibrium nexus") and heterodox economics (more "radical" dealing with the "institutions-history-social structure nexus"); and between rational and behavioral economics.

Economics Economies by region

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General categories

Microeconomics · Macroeconomics History of economic thought Methodology · Heterodox approaches

Techniques

Mathematical · Econometrics Experimental · National accounting

Fields and subfields

Behavioral · Cultural · Evolutionary Growth · Development · History International · Economic systems Monetary and Financial economics Public and Welfare economics Health · Education · Welfare Population · Labour · Managerial Business · Information · Game theory Industrial organization · Law Agricultural · Natural resource Environmental · Ecological Urban · Rural · Regional · Geography

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The economy: concept and history Business and Economics Portal This box:

From Wikipedia under the GNU Free Documentation License
Tue Jul 27 03:11:01 2010

EconoSpeak: Economics without Equilibrium
econospeak.blogspot.com
EconoSpeak: Economics without Equilibrium

Peter Dorman

hu, 29 Jul 2010 05:11:00 GM

I think the simplest way to put the question is to ask, what sciences should . economics. , given its subject matter, most resemble? Physics, with its immutable laws and extraordinarily​ precise measurement apparatuses? Not likely. ...

The Normative Versus the Positive: Unemployment and Economics As a ...
scienceblogs.com
The Normative Versus the Positive: Unemployment and Economics As a ...

Mike

Mon, 26 Jul 2010 15:04:14 GM

Economics. has excluded overt discussions of the normative from its sphere of activity.

Ottawa Urban Living: Economics Rap
ottawaurbanliving.com
Ottawa Urban Living: Economics Rap

Jessica

Wed, 28 Jul 2010 22:52:00 GM

Considering the time that we've had recently with the . economic. crisis and recovery, I wonder if they're brining back more . economics. courses in schools. Of course, there is no such thing as the perfect theory and brining in changes to an ...

From Google Blog Search: "economics"
Thu Jul 29 06:22:51 2010

UVM journal seeks solutions - BurlingtonFreePress.com
burlingtonfreepress.com
UVM journal seeks solutions - BurlingtonFreePress.com
Tue, 27 Jul 2010 11:14:16 GMT+00:00
BurlingtonFreePress.com Ida Kubiszewski, managing editor of Solutions, participates Wednesday in the editorial staff meeting at the Gund Institute for Ecological Economics at the ...
[Economic Update] Now What? - PCT Magazine
pctonline.com
[Economic Update] Now What? - PCT Magazine
Tue, 27 Jul 2010 04:10:00 GMT+00:00
Update] Now What? PCT Magazine How can PMPs make the most of the economic recovery moving forward? Drum roll, please: Last month marked the one-year anniversary of America's economic ...
Pak rubbishes report against premiere spy agency - The Nation, Pakistan
nation.com.pk
Pak rubbishes report against premiere spy agency - The Nation, Pakistan
Tue, 27 Jul 2010 03:10:33 GMT+00:00
The Nation, Pakistan Earlier, a famous British educational institution London School of Economics had joined the campaign by publishing a report stating that Pakistani ISI has ... Wikileaks' War Logs Highlight Global Intelligence Facade Of 'War On Terror' Sudbury Star The Wikileaks document dump changes nothing Foreign Policy (blog) The War Logs: Reaction to Disclosure of Military Documents on Afghan War New York Times (blog) GlobalPost

From Google News Search: "economics"
Tue Jul 27 14:54:43 2010

economics jpg
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Everything the Communists told us about communism was a complete and utter lie Unfortunately everything the Communists told us about capitalism turned out to be true

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cartoon

From Yahoo Image Search: "economics"
Sun Jul 25 13:39:58 2010

How important is the field of economics to you?
Q. Compared to other fields (mathematics, history, anthropology, psychology, English, etc.), where would you put economics in terms of importance? Why? If not economics, what's the most important for you and why? I understand that fields overlap and all are fairly important, but do your best to differentiate them.
Asked by crapola5 - Thu Jan 18 21:05:57 2007 - - 6 Answers - 0 Comments

A. Economics is the culmination of everything. Nearly all national trends are dictated by economics. The study of economics covers all aspects of life as everyone wants a better standard of living.
Answered by paris56 - Thu Jan 18 21:19:14 2007

What's the difference between majoring in Economics under Arts & Sciences vs. Business?
Q. I'm currently applying for colleges and I notice at many colleges that when it asks me to choose a major it has economics listed under both the School of Arts & Sciences and the School of Business. What are the differences between these two different majors? Is there any advantages to choosing one over the other? If you majored in economics at a school that had both, which did you choose and are you happy? And finally, do you have any additional info that might help me out? Thank you!
Asked by Kikki - Wed Jul 23 18:43:56 2008 - - 1 Answers - 0 Comments

A. The main difference is in the courses you take outside of Economics. If you study in a B-School, then you have to take courses in other Business areas, like Marketing, Accounting, management, finance, etc. In the college of Arts & Sciences, you would not be required to take those classes, but may have other requirements in the arts or the sciences. I can't tell you which is preferable -- because it depends on the school. Many of the top undergraduate schools -- like Harvard, Princeton, Duke, Chicago and Stanford -- do not have undergraduate business schools. But an Economics degree from the A&S college of one of those schools would be better than one from a Business School at most schools. On the other hand, a BS in Economics from… [cont.]
Answered by Ranto - Wed Jul 23 18:56:40 2008

What is the difference between Economics MICRO and MACRO?
Q. I'm looking to dual-enroll next year, and I want to take an economics class and I have two choices which are above.
Asked by Josh D - Mon Jun 8 09:45:04 2009 - - 1 Answers - 0 Comments

A. Micro Economics is a branch of economics that studies how individuals, households and firms and some states make decisions to allocate limited resources. Along with microeconomics, macroeconomics is one of the two most general fields in economics. It is the study of the behavior and decision-making of entire economies.
Answered by unknown - Mon Jun 8 10:41:50 2009

From Yahoo Answer Search: "economics"
Thu Jul 29 06:37:36 2010

Economics is the social science that studies the production, distribution, and consumption of goods and services. The term economics comes from the Greek for oikos (house) and nomos (custom or law), hence "rules of the house(hold).

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  • In fact, without any exaggeration, the current mechanism of money creation through credit is certainly the "cancer" that's irretrievably eroding market economies of private property.
    • Maurice Allais, in La Crise mondiale d’aujourd’hui. Pour de profondes réformes des institutions financières et monétaires (1999), p. 74
  • The more opportunities there are in a Society for some persons to live upon the toil of others, and the less those others may enjoy the fruits of their work themselves, the more is diligence killed, the former become insolent, the latter despairing, and both negligent.
  • Capitalism is the exploitation of man by man. Yes? Well socialism is exactly the reverse.
    • Len Deighton, Funeral in Berlin (1964; repr. Harmondsworth: Penguin, 1966) p. 145
    • Described there as a joke current in 1960s Czechoslovakia