Preview

Need You: )

Powerful Essays
Open Document
Open Document
2523 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Need You: )
* What is Economics?

Is the social science that analyzes 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)". * Branches of Economics: Behavioural economics - is the study of the effects of psychology on economic decision making.

Constitutional economics - is a research program in economics and constitutionalism that has been described as extending beyond the definition of "the economic analysis of constitutional law" in explaining the choice "of alternative sets of legal-institutional-constitutional rules that constrain the choices and activities of economic and political agents."

Development economics - is a branch of economics which deals with economic aspects of the development process in low-income countries.

Ecological economics - is referred to as both a Trans’ disciplinary and interdisciplinary field of academic research that aims to address the interdependence and coevolution of human economies and natural ecosystems over time and space.

Economic geography - is the study of the location, distribution and spatial organization of economic activities across the world.

Environmental economics - is a subfield of economics concerned with environmental issues.

Energy economics - is a broad scientific subject area which includes topics related to supply and use of energy in societies.

Financial economics - is the branch of economics concerned with "the allocation and deployment of economic resources, both spatially and across time, in an uncertain environment".

Information economics - or the economics of information is a branch of microeconomic theory that studies how information affects an economy and economic decisions.

International economics - describes and predicts production, trade,

You May Also Find These Documents Helpful

  • Satisfactory Essays

    Study Review Micro Ch. 1

    • 633 Words
    • 3 Pages

    Economics is a social Science concerned with the allocation of scarce Resources to meet the unlimited wants Of the members of a given society.…

    • 633 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    * Economics- the study of how human beings coordinate their wants and desires, given the decision-making mechanisms, social customs, and political realities of the society…

    • 1181 Words
    • 5 Pages
    Good Essays
  • Good Essays

    Eco372 Week 1 Individual

    • 943 Words
    • 4 Pages

    Individuals frequently assume that economics only concern is with business, money, and supply, and demand. However, economics began as a branch of philosophy, and Alfred Marshall, the 19th century economist describes economics as the study of individuals in the business of everyday life.…

    • 943 Words
    • 4 Pages
    Good Essays
  • Powerful Essays

    Psyc221 Notes

    • 6651 Words
    • 27 Pages

    * Economics- the study of the production, distribution, and consumption of goods and services, and the study of money…

    • 6651 Words
    • 27 Pages
    Powerful Essays
  • Good Essays

    Ap Economics

    • 3812 Words
    • 16 Pages

    Economics- The science that deals with the production, distribution, and consumption of goods and services, or the material welfare of humankind.…

    • 3812 Words
    • 16 Pages
    Good Essays
  • Good Essays

    Boat of Ethics

    • 1058 Words
    • 5 Pages

    Ecology, most simply put, is "the study of relationships between organisms and their environment". (Encyclopedia Britannica) Garrett Hardin, writer of the essay Lifeboat Ethics: The Case against Helping the Poor was a professor of human ecology at the University of California at Santa Barbara and had some extremely harsh opinions about the solution to global population issues. As a professor of human ecology, Hardin studied the relationship between humans and their environment, and in this case the entire globe. It is a well known fact that environmental degradations, unequal wealth distribution and exponential population growth are growing problems in the world, and in his essay, Hardin explains that there are relatively simple solutions to these problems. While Hardin's solutions to the interconnected global environment, economic and population problems are harsh and potentially immoral, Hardin convinced me they are the only solutions to a growing global issue.…

    • 1058 Words
    • 5 Pages
    Good Essays
  • Satisfactory Essays

    Scarcity and Economics

    • 686 Words
    • 3 Pages

    Economics is the social science that deals with the production, distribution and consumption of goods and services and with the theory and management of economic systems.…

    • 686 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    What is Economics?

    • 703 Words
    • 3 Pages

    Economics is the concept that contracts the manufacture, allotment, and use of produce and services. It is the study of how the use of inadequate resources will best satisfy the wants, needs and desire of the greatest number of people. The study of economics over the years as nations continues to connect globally has become tremendously important aspect. Economics consists of a large number of subdivisions with the two major ones begin macroeconomics and microeconomics. Macroeconomics encompasses the conclusion made by the people in the general public, such as the changes in interest rates that affects the national savings. Macroeconomics is the study of the complete structure of economics. Microeconomics consists of economics decisions made at a lower level. For example the change of a price item affecting an individual’s decision of purchasing that particular item. Microeconomics focuses on how the organization affects one business or parts of the economic structure.…

    • 703 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    “Our resources are limited (scarce), but our wants (aspirations to good life , ambitions , needs, dreams) are unlimited.”…

    • 5012 Words
    • 21 Pages
    Powerful Essays
  • Good Essays

    There is an opportunity cost associated with consuming the lunch you didn’t pay for. (give up your time,etc.)…

    • 6569 Words
    • 27 Pages
    Good Essays
  • Better Essays

    Epge

    • 1368 Words
    • 6 Pages

    What is economics? There are two economists define different meaning of the word “Economics”. Alfred Marshall (1890) noted that "Economics is the study of people in the ordinary business of life." Also Paul A. Samuelson (1948) noted that Economics is the "study of how societies use scarce resources to produce valuable commodities and distribute them among different people." Meanwhile, economics reflect the economic decision and choices of people on goods and services. Economics explains how people interact within markets to get what they want or achieve their goals. Since economics is a driving force of human interaction, it also shows the reasons of why people and governments behave in particular ways.…

    • 1368 Words
    • 6 Pages
    Better Essays
  • Powerful Essays

    Economics treats only material goods like furniture, electronics, house etc. Whereas, immaterial goods like sunlight, moonlight, air, rain and unpaid services are not included in it.…

    • 1553 Words
    • 7 Pages
    Powerful Essays
  • Good Essays

    Definition of Economoics

    • 812 Words
    • 4 Pages

    In simple, economics is the scientific study of the choices made by individuals and societies in regard to the alternative uses of scarce resources which are employed to satisfy wants. Different views about economy are presented below.…

    • 812 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Econs

    • 609 Words
    • 3 Pages

    Economics is a social science, positive as well as normative, divided into microeconomics and macroeconomics, concerned with how society allocates limited factor inputs to produce goods and services to satisfy unlimited human wants.…

    • 609 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    behavioural finance

    • 296 Words
    • 2 Pages

    Behavioural finance is the study of the influence of psychology on the behavioural of financial practitioners and subsequent effect on markets.…

    • 296 Words
    • 2 Pages
    Satisfactory Essays

Related Topics