Economics, the Glossary
Economics is a social science that studies the production, distribution, and consumption of goods and services.[1]
Table of Contents
483 relations: A Monetary History of the United States, Absolute advantage, Academic degree, Adam Smith, Adverse selection, Agent (economics), Aggregate demand, Alfred Marshall, Allocative efficiency, Alvin Hansen, American Economic Association, American Economic Review, Amos Tversky, Amy Finkelstein, An Essay on the Nature and Significance of Economic Science, Ancient Greek, Anna Schwartz, Applied economics, Applied mathematics, Artificial Life (journal), Auburn University, Austrian school of economics, Émile Durkheim, Bachelor of Economics, Balance of trade, Bank, Bankruptcy, Barter, Behavioral economics, Boeotia, Budget constraint, Business cycle, Business economics, Calculus, Cambridge University Press, Capital (economics), Capital accumulation, Capital market, Capital structure, Central bank, Ceteris paribus, Chicago school of economics, Circular flow of income, Circulating capital, Classical economics, Claudia Goldin, Cognitive bias, Coincidence of wants, Communication, Comparative advantage, ... Expand index (433 more) »
A Monetary History of the United States
A Monetary History of the United States, 1867–1960 is a book written in 1963 by Nobel Prize–winning economist Milton Friedman and Anna J. Schwartz.
See Economics and A Monetary History of the United States
Absolute advantage
In economics, the principle of absolute advantage is the ability of a party (an individual, or firm, or country) to produce a good or service more efficiently than its competitors.
See Economics and Absolute advantage
Academic degree
An academic degree is a qualification awarded to a student upon successful completion of a course of study in higher education, usually at a college or university.
See Economics and Academic degree
Adam Smith
Adam Smith (baptised 1723 – 17 July 1790) was a Scottish economist and philosopher who was a pioneer in the thinking of political economy and key figure during the Scottish Enlightenment.
Adverse selection
In economics, insurance, and risk management, adverse selection is a market situation where asymmetric information results in a party taking advantage of undisclosed information to benefit more from a contract or trade.
See Economics and Adverse selection
Agent (economics)
In economics, an agent is an actor (more specifically, a decision maker) in a model of some aspect of the economy.
See Economics and Agent (economics)
Aggregate demand
In economics, aggregate demand (AD) or domestic final demand (DFD) is the total demand for final goods and services in an economy at a given time.
See Economics and Aggregate demand
Alfred Marshall
Alfred Marshall (26 July 1842 – 13 July 1924) was an English economist, and was one of the most influential economists of his time.
See Economics and Alfred Marshall
Allocative efficiency
Allocative efficiency is a state of the economy in which production is aligned with the preferences of consumers and producers; in particular, the set of outputs is chosen so as to maximize the social welfare of society.
See Economics and Allocative efficiency
Alvin Hansen
Alvin Harvey Hansen (August 23, 1887 – June 6, 1975) was an American economist who taught at the University of Minnesota and was later a chair professor of economics at Harvard University.
See Economics and Alvin Hansen
American Economic Association
The American Economic Association (AEA) is a learned society in the field of economics.
See Economics and American Economic Association
American Economic Review
The American Economic Review is a monthly peer-reviewed academic journal first published by the American Economic Association in 1911.
See Economics and American Economic Review
Amos Tversky
Amos Nathan Tversky (עמוס טברסקי; March 16, 1937 – June 2, 1996) was an Israeli cognitive and mathematical psychologist and a key figure in the discovery of systematic human cognitive bias and handling of risk.
See Economics and Amos Tversky
Amy Finkelstein
Amy Nadya Finkelstein (born November 2, 1973) is an American economist who is a professor of economics at the Massachusetts Institute of Technology (MIT), the co-director and research associate of the Public Economics Program at the National Bureau of Economic Research, and the co-Scientific Director of J-PAL North America.
See Economics and Amy Finkelstein
An Essay on the Nature and Significance of Economic Science
Lionel Robbins' Essay (1932, 1935, 2nd ed., 158 pp.) sought to define more precisely economics as a science and to derive substantive implications.
See Economics and An Essay on the Nature and Significance of Economic Science
Ancient Greek
Ancient Greek (Ἑλληνῐκή) includes the forms of the Greek language used in ancient Greece and the ancient world from around 1500 BC to 300 BC.
See Economics and Ancient Greek
Anna Schwartz
Anna Jacobson Schwartz (pronounced; November 11, 1915 – June 21, 2012) was an American economist who worked at the National Bureau of Economic Research in New York City and a writer for The New York Times.
See Economics and Anna Schwartz
Applied economics
Applied economics is the application of economic theory and econometrics in specific settings.
See Economics and Applied economics
Applied mathematics
Applied mathematics is the application of mathematical methods by different fields such as physics, engineering, medicine, biology, finance, business, computer science, and industry.
See Economics and Applied mathematics
Artificial Life (journal)
Artificial Life is a peer-reviewed scientific journal that covers the study of man-made systems that exhibit the behavioral characteristics of natural living systems.
See Economics and Artificial Life (journal)
Auburn University
Auburn University (AU or Auburn) is a public land-grant research university in Auburn, Alabama.
See Economics and Auburn University
Austrian school of economics
The Austrian school is a heterodox school of economic thought that advocates strict adherence to methodological individualism, the concept that social phenomena result primarily from the motivations and actions of individuals along with their self interest.
See Economics and Austrian school of economics
Émile Durkheim
David Émile Durkheim (or; 15 April 1858 – 15 November 1917), professionally known simply as Émile Durkheim, was a French sociologist.
See Economics and Émile Durkheim
Bachelor of Economics
A Bachelor of Economics (BEc or BEcon) Bureau of Labor Statistics: is an academic degree awarded to students who have completed undergraduate studies in economics.
See Economics and Bachelor of Economics
Balance of trade
Balance of trade is the difference between the monetary value of a nation's exports and imports over a certain time period.
See Economics and Balance of trade
Bank
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans.
Bankruptcy
Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts.
Barter
In trade, barter (derived from baretor) is a system of exchange in which participants in a transaction directly exchange goods or services for other goods or services without using a medium of exchange, such as money.
Behavioral economics
Behavioral economics is the study of the psychological, cognitive, emotional, cultural and social factors involved in the decisions of individuals or institutions, and how these decisions deviate from those implied by classical economic theory.
See Economics and Behavioral economics
Boeotia
Boeotia, sometimes Latinized as Boiotia or Beotia (Βοιωτία; modern:; ancient) is one of the regional units of Greece.
Budget constraint
In economics, a budget constraint represents all the combinations of goods and services that a consumer may purchase given current prices within their given income.
See Economics and Budget constraint
Business cycle
Business cycles are intervals of general expansion followed by recession in economic performance.
See Economics and Business cycle
Business economics
Business economics is a field in applied economics which uses economic theory and quantitative methods to analyze business enterprises and the factors contributing to the diversity of organizational structures and the relationships of firms with labour, capital and product markets.
See Economics and Business economics
Calculus
Calculus is the mathematical study of continuous change, in the same way that geometry is the study of shape, and algebra is the study of generalizations of arithmetic operations.
Cambridge University Press
Cambridge University Press is the university press of the University of Cambridge.
See Economics and Cambridge University Press
Capital (economics)
In economics, capital goods or capital are "those durable produced goods that are in turn used as productive inputs for further production" of goods and services.
See Economics and Capital (economics)
Capital accumulation
Capital accumulation is the dynamic that motivates the pursuit of profit, involving the investment of money or any financial asset with the goal of increasing the initial monetary value of said asset as a financial return whether in the form of profit, rent, interest, royalties or capital gains.
See Economics and Capital accumulation
Capital market
A capital market is a financial market in which long-term debt (over a year) or equity-backed securities are bought and sold, in contrast to a money market where short-term debt is bought and sold.
See Economics and Capital market
Capital structure
In corporate finance, capital structure refers to the mix of various forms of external funds, known as capital, used to finance a business.
See Economics and Capital structure
Central bank
A central bank, reserve bank, national bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union.
See Economics and Central bank
Ceteris paribus
Ceteris paribus (also spelled caeteris paribus) (Classical) is a Latin phrase, meaning "other things equal"; some other English translations of the phrase are "all other things being equal", "other things held constant", "all else unchanged", and "all else being equal".
See Economics and Ceteris paribus
Chicago school of economics
The Chicago school of economics is a neoclassical school of economic thought associated with the work of the faculty at the University of Chicago, some of whom have constructed and popularized its principles.
See Economics and Chicago school of economics
Circular flow of income
The circular flow of income or circular flow is a model of the economy in which the major exchanges are represented as flows of money, goods and services, etc.
See Economics and Circular flow of income
Circulating capital
Circulating capital includes intermediate goods and operating expenses, i.e., short-lived items that are used in production and used up in the process of creating other goods or services.
See Economics and Circulating capital
Classical economics
Classical economics, classical political economy, or Smithian economics is a school of thought in political economy that flourished, primarily in Britain, in the late 18th and early-to-mid-19th century.
See Economics and Classical economics
Claudia Goldin
Claudia Dale Goldin (born May 14, 1946) is an American economic historian and labor economist.
See Economics and Claudia Goldin
Cognitive bias
A cognitive bias is a systematic pattern of deviation from norm or rationality in judgment.
See Economics and Cognitive bias
Coincidence of wants
The coincidence of wants (often known as double coincidence of wants) is an economic phenomenon where two parties each hold an item that the other wants, so they exchange these items directly.
See Economics and Coincidence of wants
Communication
Communication is commonly defined as the transmission of information.
See Economics and Communication
Comparative advantage
Comparative advantage in an economic model is the advantage over others in producing a particular good.
See Economics and Comparative advantage
Competition (economics)
In economics, competition is a scenario where different economic firmsThis article follows the general economic convention of referring to all actors as firms; examples in include individuals and brands or divisions within the same (legal) firm.
See Economics and Competition (economics)
Computer science
Computer science is the study of computation, information, and automation.
See Economics and Computer science
Constitutional economics
Constitutional economics is a research program in economics and constitutionalism that has been described as explaining the choice "of alternative sets of legal-institutional-constitutional rules that constrain the choices and activities of economic and political agents".
See Economics and Constitutional economics
Consumer choice
The theory of consumer choice is the branch of microeconomics that relates preferences to consumption expenditures and to consumer demand curves.
See Economics and Consumer choice
Consumption (economics)
Consumption is the act of using resources to satisfy current needs and wants.
See Economics and Consumption (economics)
Contract theory
From a legal point of view, a contract is an institutional arrangement for the way in which resources flow, which defines the various relationships between the parties to a transaction or limits the rights and obligations of the parties.
See Economics and Contract theory
Convention (norm)
A convention is a set of agreed, stipulated, or generally accepted standards, social norms, or other criteria, often taking the form of a custom.
See Economics and Convention (norm)
Convergence (economics)
The idea of convergence in economics (also sometimes known as the catch-up effect) is the hypothesis that poorer economies' per capita incomes will tend to grow at faster rates than richer economies.
See Economics and Convergence (economics)
Corporation
A corporation is an organization—usually a group of people or a company—authorized by the state to act as a single entity (a legal entity recognized by private and public law as "born out of statute"; a legal person in a legal context) and recognized as such in law for certain purposes.
Cost–benefit analysis
Cost–benefit analysis (CBA), sometimes also called benefit–cost analysis, is a systematic approach to estimating the strengths and weaknesses of alternatives.
See Economics and Cost–benefit analysis
Crime
In ordinary language, a crime is an unlawful act punishable by a state or other authority.
Critical juncture theory
Critical juncture theory focuses on critical junctures, i.e., large, rapid, discontinuous changes, and the long-term causal effect or historical legacy of these changes. Economics and critical juncture theory are economic theories.
See Economics and Critical juncture theory
Crowding out (economics)
In economics, crowding out is a phenomenon that occurs when increased government involvement in a sector of the market economy substantially affects the remainder of the market, either on the supply or demand side of the market.
See Economics and Crowding out (economics)
Daniel Kahneman
Daniel Kahneman (דניאל כהנמן; March 5, 1934 – March 27, 2024) was an Israeli-American psychologist best-known for his work on the psychology of judgment and decision-making as well as behavioral economics, for which he was awarded the 2002 Nobel Memorial Prize in Economic Sciences together with Vernon L.
See Economics and Daniel Kahneman
Das Kapital
Capital: A Critique of Political Economy (Das Kapital.), also known as Capital and Das Kapital, is a foundational theoretical text in materialist philosophy and critique of political economy written by Karl Marx, published as three volumes in 1867, 1885, and 1894.
Data set
A data set (or dataset) is a collection of data.
David Ricardo
David Ricardo (18 April 1772 – 11 September 1823) was a British political economist, politician, and member of the Parliament of Great Britain and Ireland.
See Economics and David Ricardo
Düsseldorf
Düsseldorf is the capital city of North Rhine-Westphalia, the most populous state of Germany.
Decision theory
Decision theory (or the theory of choice) is a branch of applied probability theory and analytic philosophy concerned with the theory of making decisions based on assigning probabilities to various factors and assigning numerical consequences to the outcome.
See Economics and Decision theory
Decision-making
In psychology, decision-making (also spelled decision making and decisionmaking) is regarded as the cognitive process resulting in the selection of a belief or a course of action among several possible alternative options.
See Economics and Decision-making
Definitions of economics
Various definitions of economics have been proposed, including the description of it as "what economists do." The term 'economics' was previously known as political 'economy'.
See Economics and Definitions of economics
Dependency theory
Dependency theory is the idea that resources flow from a "periphery" of poor and exploited states to a "core" of wealthy states, enriching the latter at the expense of the former.
See Economics and Dependency theory
Developing country
A developing country is a sovereign state with a less developed industrial base and a lower Human Development Index (HDI) relative to other countries.
See Economics and Developing country
Diminishing returns
In economics, diminishing returns are the decrease in marginal (incremental) output of a production process as the amount of a single factor of production is incrementally increased, holding all other factors of production equal (ceteris paribus).
See Economics and Diminishing returns
Discouraged worker
In economics, a discouraged worker is a person of legal employment age who is not actively seeking employment or who has not found employment after long-term unemployment, but who would prefer to be working.
See Economics and Discouraged worker
Distribution (economics)
In economics, distribution is the way total output, income, or wealth is distributed among individuals or among the factors of production (such as labour, land, and capital).
See Economics and Distribution (economics)
Distribution of wealth
The distribution of wealth is a comparison of the wealth of various members or groups in a society.
See Economics and Distribution of wealth
Division of labour
The division of labour is the separation of the tasks in any economic system or organisation so that participants may specialise (specialisation).
See Economics and Division of labour
Drop-down list
A drop-down list (abbreviated drop-down, or DDL; also known as a drop-down menu, drop menu, pull-down list, picklist) is a graphical control element, similar to a list box, that allows the user to choose one value from a list either by clicking or hovering over the menu.
See Economics and Drop-down list
Duopoly
A duopoly (from Greek δύο, duo "two" and πωλεῖν, polein "to sell") is a type of oligopoly where two firms have dominant or exclusive control over a market, and most (if not all) of the competition within that market occurs directly between them.
Dynamic stochastic general equilibrium
Dynamic stochastic general equilibrium modeling (abbreviated as DSGE, or DGE, or sometimes SDGE) is a macroeconomic method which is often employed by monetary and fiscal authorities for policy analysis, explaining historical time-series data, as well as future forecasting purposes.
See Economics and Dynamic stochastic general equilibrium
East Coast of the United States
The East Coast of the United States, also known as the Eastern Seaboard, the Atlantic Coast, and the Atlantic Seaboard, is the region encompassing the coastline where the Eastern United States meets the Atlantic Ocean.
See Economics and East Coast of the United States
Ecological economics
Ecological economics, bioeconomics, ecolonomy, eco-economics, or ecol-econ is both a transdisciplinary and an interdisciplinary field of academic research addressing the interdependence and coevolution of human economies and natural ecosystems, both intertemporally and spatially.
See Economics and Ecological economics
Ecological Economics (journal)
Ecological Economics.
See Economics and Ecological Economics (journal)
Econodynamics
Economic dynamics is an empirical science that studies emergences, motion and disappearance of value—a specific concept that is used for description of the processes of creation and distribution of wealth.
See Economics and Econodynamics
Econometrics
Econometrics is an application of statistical methods to economic data in order to give empirical content to economic relationships.
See Economics and Econometrics
Economic data
Economic data are data describing an actual economy, past or present.
See Economics and Economic data
Economic democracy
Economic democracy (sometimes called a democratic economy) is a socioeconomic philosophy that proposes to shift ownership and decision-making power from corporate shareholders and corporate managers (such as a board of directors) to a larger group of public stakeholders that includes workers, consumers, suppliers, communities and the broader public.
See Economics and Economic democracy
Economic development
In the economics study of the public sector, economic and social development is the process by which the economic well-being and quality of life of a nation, region, local community, or an individual are improved according to targeted goals and objectives.
See Economics and Economic development
Economic efficiency
In microeconomics, economic efficiency, depending on the context, is usually one of the following two related concepts.
See Economics and Economic efficiency
Economic equilibrium
In economics, economic equilibrium is a situation in which economic forces such as supply and demand are balanced and in the absence of external influences the (equilibrium) values of economic variables will not change.
See Economics and Economic equilibrium
Economic geography
Economic geography is the subfield of human geography that studies economic activity and factors affecting it.
See Economics and Economic geography
Economic growth
Economic growth can be defined as the increase or improvement in the inflation-adjusted market value of the goods and services produced by an economy in a financial year.
See Economics and Economic growth
Economic history
Economic history is the study of history using methodological tools from economics or with a special attention to economic phenomena.
See Economics and Economic history
Economic ideology
An economic ideology is a set of views forming the basis of an ideology on how the economy should run.
See Economics and Economic ideology
Economic model
An economic model is a theoretical construct representing economic processes by a set of variables and a set of logical and/or quantitative relationships between them.
See Economics and Economic model
Economic nationalism
Economic nationalism or nationalist economics is an ideology that prioritizes state intervention in the economy, including policies like domestic control and the use of tariffs and restrictions on labor, goods, and capital movement.
See Economics and Economic nationalism
Economic policy
The economy of governments covers the systems for setting levels of taxation, government budgets, the money supply and interest rates as well as the labour market, national ownership, and many other areas of government interventions into the economy.
See Economics and Economic policy
Economic sociology
Economic sociology is the study of the social cause and effect of various economic phenomena.
See Economics and Economic sociology
Economic union
An economic union is a type of trade bloc which is composed of a common market with a customs union.
See Economics and Economic union
Economica
Economica is a peer-reviewed academic journal of generalist economics published on behalf of the London School of Economics by Wiley-Blackwell.
Economics
Economics is a social science that studies the production, distribution, and consumption of goods and services. Economics and Economics are economic theories.
Economics of religion
The economics of religion concerns both the application of the techniques of economics to the study of religion and the relationship between economic and religious behaviours.
See Economics and Economics of religion
Economics of science
The economics of science aims to understand the impact of science on the advance of technology, to explain the behavior of scientists, and to understand the efficiency or inefficiency of scientific institutions and science markets.
See Economics and Economics of science
Economics of security
The economics of information security addresses the economic aspects of privacy and computer security.
See Economics and Economics of security
Economics terminology that differs from common usage
In any technical subject, words commonly used in everyday life acquire very specific technical meanings, and confusion can arise when someone is uncertain of the intended meaning of a word.
See Economics and Economics terminology that differs from common usage
Economies of agglomeration
One of the major subfields of urban economics, economies of agglomeration (or agglomeration effects), explains, in broad terms, how urban agglomeration occurs in locations where cost savings can naturally arise.
See Economics and Economies of agglomeration
Economies of scale
In microeconomics, economies of scale are the cost advantages that enterprises obtain due to their scale of operation, and are typically measured by the amount of output produced per unit of time.
See Economics and Economies of scale
Economist
An economist is a professional and practitioner in the social science discipline of economics.
Economy
An economy is an area of the production, distribution and trade, as well as consumption of goods and services.
Economy of the United States
The United States is a highly developed/advanced mixed economy.
See Economics and Economy of the United States
Econophysics
Econophysics is a non-orthodox (in economics) interdisciplinary research field, applying theories and methods originally developed by physicists in order to solve problems in economics, usually those including uncertainty or stochastic processes and nonlinear dynamics.
See Economics and Econophysics
Education economics
Education economics or the economics of education is the study of economic issues relating to education, including the demand for education, the financing and provision of education, and the comparative efficiency of various educational programs and policies.
See Economics and Education economics
Edward C. Prescott
Edward Christian Prescott (December 26, 1940 – November 6, 2022) was an American economist.
See Economics and Edward C. Prescott
Effective demand
In economics, effective demand (ED) in a market is the demand for a product or service which occurs when purchasers are constrained in a different market.
See Economics and Effective demand
Efficient-market hypothesis
The efficient-market hypothesis (EMH) is a hypothesis in financial economics that states that asset prices reflect all available information.
See Economics and Efficient-market hypothesis
Elinor Ostrom
Elinor Claire "Lin" Ostrom (née Awan; August 7, 1933 – June 12, 2012) was an American political scientist and political economist whose work was associated with New Institutional Economics and the resurgence of political economy.
See Economics and Elinor Ostrom
Emi Nakamura
Emi Nakamura is a Canadian-American economist.
See Economics and Emi Nakamura
Emissions trading
Emissions trading is a market-based approach to controlling pollution by providing economic incentives for reducing the emissions of pollutants.
See Economics and Emissions trading
Empirical evidence
Empirical evidence for a proposition is evidence, i.e. what supports or counters this proposition, that is constituted by or accessible to sense experience or experimental procedure.
See Economics and Empirical evidence
Encyclopædia Britannica
The British Encyclopaedia is a general knowledge English-language encyclopaedia.
See Economics and Encyclopædia Britannica
Endogenous growth theory
Endogenous growth theory holds that economic growth is primarily the result of endogenous and not external forces.
See Economics and Endogenous growth theory
Energy economics
Energy economics is a broad scientific subject area which includes topics related to supply and use of energy in societies.
See Economics and Energy economics
Energy supply
Energy supply is the delivery of fuels or transformed fuels to point of consumption.
See Economics and Energy supply
Engineering economics
Engineering economics, previously known as engineering economy, is a subset of economics concerned with the use and "...application of economic principles"Dharmaraj, E.. Economics and engineering economics are economic theories.
See Economics and Engineering economics
Entrepreneurship
Entrepreneurship is the creation or extraction of economic value in ways that generally entail beyond the minimal amount of risk (assumed by a traditional business), and potentially involving values besides simply economic ones.
See Economics and Entrepreneurship
Entropy
Entropy is a scientific concept that is most commonly associated with a state of disorder, randomness, or uncertainty.
Environmental economics
Environmental economics is a sub-field of economics concerned with environmental issues.
See Economics and Environmental economics
Equal opportunity
Equal opportunity is a state of fairness in which individuals are treated similarly, unhampered by artificial barriers, prejudices, or preferences, except when particular distinctions can be explicitly justified.
See Economics and Equal opportunity
Equality of outcome
Equality of outcome, equality of condition, or equality of results is a political concept which is central to some political ideologies and is used in some political discourse, often in contrast to the term equality of opportunity.
See Economics and Equality of outcome
Equity (economics)
Equity, or economic equality, is the construct, concept or idea of fairness in economics and justice in the distribution of wealth, resources, and taxation within a society.
See Economics and Equity (economics)
Esther Duflo
Esther Duflo, FBA (born 25 October 1972) is a French–American economist currently serving as the Abdul Latif Jameel Professor of Poverty Alleviation and Development Economics at the Massachusetts Institute of Technology (MIT).
See Economics and Esther Duflo
Evolutionary biology
Evolutionary biology is the subfield of biology that studies the evolutionary processes (natural selection, common descent, speciation) that produced the diversity of life on Earth.
See Economics and Evolutionary biology
Evolutionary economics
Evolutionary economics is a school of economic thought that is inspired by evolutionary biology.
See Economics and Evolutionary economics
Exchange rate
In finance, an exchange rate is the rate at which one currency will be exchanged for another currency.
See Economics and Exchange rate
Expense
An expense is an item requiring an outflow of money, or any form of fortune in general, to another person or group as payment for an item, service, or other category of costs.
Experiment
An experiment is a procedure carried out to support or refute a hypothesis, or determine the efficacy or likelihood of something previously untried.
Experimental economics
Experimental economics is the application of experimental methods to study economic questions.
See Economics and Experimental economics
Externality
In economics, an externality or external cost is an indirect cost or benefit to an uninvolved third party that arises as an effect of another party's (or parties') activity.
Factors of production
In economics, factors of production, resources, or inputs are what is used in the production process to produce output—that is, goods and services.
See Economics and Factors of production
Falsifiability
Falsifiability (or refutability) is a deductive standard of evaluation of scientific theories and hypotheses, introduced by the philosopher of science Karl Popper in his book The Logic of Scientific Discovery (1934).
See Economics and Falsifiability
Family economics
Family economics applies economic concepts such as production, division of labor, distribution, and decision making to the family.
See Economics and Family economics
Feminist economics
Feminist economics is the critical study of economics and economies, with a focus on gender-aware and inclusive economic inquiry and policy analysis.
See Economics and Feminist economics
Finance
Finance refers to monetary resources and to the study and discipline of money, currency and capital assets.
Financial crisis
A financial crisis is any of a broad variety of situations in which some financial assets suddenly lose a large part of their nominal value.
See Economics and Financial crisis
Financial economics
Financial economics is the branch of economics characterized by a "concentration on monetary activities", in which "money of one type or another is likely to appear on both sides of a trade".
See Economics and Financial economics
Financial instrument
Financial instruments are monetary contracts between parties.
See Economics and Financial instrument
Financial market
A financial market is a market in which people trade financial securities and derivatives at low transaction costs.
See Economics and Financial market
Financial regulation
Financial regulation is a broad set of policies that apply to the financial sector in most jurisdictions, justified by two main features of finance: systemic risk, which implies that the failure of financial firms involves public interest considerations; and information asymmetry, which justifies curbs on freedom of contract in selected areas of financial services, particularly those that involve retail clients and/or Principal–agent problems.
See Economics and Financial regulation
Fiscal multiplier
In economics, the fiscal multiplier (not to be confused with the money multiplier) is the ratio of change in national income arising from a change in government spending.
See Economics and Fiscal multiplier
Fiscal policy
In economics and political science, fiscal policy is the use of government revenue collection (taxes or tax cuts) and expenditure to influence a country's economy.
See Economics and Fiscal policy
Fixed capital
In accounting, fixed capital is any kind of real, physical asset that is used repeatedly in the production of a product.
See Economics and Fixed capital
Fixed exchange rate system
A fixed exchange rate, often called a pegged exchange rate, is a type of exchange rate regime in which a currency's value is fixed or pegged by a monetary authority against the value of another currency, a basket of other currencies, or another measure of value, such as gold.
See Economics and Fixed exchange rate system
Foundations of Economic Analysis
Foundations of Economic Analysis is a book by Paul A. Samuelson published in 1947 (Enlarged ed., 1983) by Harvard University Press.
See Economics and Foundations of Economic Analysis
Francis Amasa Walker
Francis Amasa Walker (July 2, 1840 – January 5, 1897) was an American economist, statistician, journalist, educator, academic administrator, and an officer in the Union Army.
See Economics and Francis Amasa Walker
Franco Modigliani
Franco Modigliani (18 June 1918 – 25 September 2003) was an Italian-American economist and the recipient of the 1985 Nobel Memorial Prize in Economics.
See Economics and Franco Modigliani
Fraser's Magazine
Fraser's Magazine for Town and Country was a general and literary journal published in London from 1830 to 1882, which initially took a strong Tory line in politics.
See Economics and Fraser's Magazine
Free trade
Free trade is a trade policy that does not restrict imports or exports.
Freiburg school
__notoc__ The Freiburg school (Freiburger Schule) is a school of economic thought founded in the 1930s at the University of Freiburg.
See Economics and Freiburg school
Friedrich Hayek
Friedrich August von Hayek (8 May 1899 – 23 March 1992), often referred to by his initials F. A. Hayek, was an Austrian-British academic, who contributed to economics, political philosophy, psychology, and intellectual history.
See Economics and Friedrich Hayek
Full employment
Full employment is an economic situation in which there is no cyclical or deficient-demand unemployment.
See Economics and Full employment
Futures exchange
A futures exchange or futures market is a central financial exchange where people can trade standardized futures contracts defined by the exchange.
See Economics and Futures exchange
Gains from trade
In economics, gains from trade are the net benefits to economic agents from being allowed an increase in voluntary trading with each other.
See Economics and Gains from trade
Game theory
Game theory is the study of mathematical models of strategic interactions.
Gary Becker
Gary Stanley Becker (December 2, 1930 – May 3, 2014) was an American economist who received the 1992 Nobel Memorial Prize in Economic Sciences.
General equilibrium theory
In economics, general equilibrium theory attempts to explain the behavior of supply, demand, and prices in a whole economy with several or many interacting markets, by seeking to prove that the interaction of demand and supply will result in an overall general equilibrium.
See Economics and General equilibrium theory
Georg Simmel
Georg Simmel (1 March 1858 – 26 September 1918) was a German sociologist, philosopher, and critic.
See Economics and Georg Simmel
George Akerlof
George Arthur Akerlof (born June 17, 1940) is an American economist and a university professor at the McCourt School of Public Policy at Georgetown University and Koshland Professor of Economics Emeritus at the University of California, Berkeley.
See Economics and George Akerlof
Gini coefficient
In economics, the Gini coefficient, also known as the Gini index or Gini ratio, is a measure of statistical dispersion intended to represent the income inequality, the wealth inequality, or the consumption inequality within a nation or a social group.
See Economics and Gini coefficient
Globalization
Globalization, or globalisation (Commonwealth English; see spelling differences), is the process of interaction and integration among people, companies, and governments worldwide.
See Economics and Globalization
Glossary of economics
This glossary of economics is a list of definitions of terms and concepts used in economics, its sub-disciplines, and related fields.
See Economics and Glossary of economics
Goods
In economics, goods are items that satisfy human wantsQuotation from Murray Milgate, 2008, "Goods and Commodities".
Goods and services
Goods are items that are usually (but not always) tangible, such as pens or apples.
See Economics and Goods and services
Great Depression
The Great Depression (19291939) was a severe global economic downturn that affected many countries across the world.
See Economics and Great Depression
Green economy
A green economy is an economy that aims at reducing environmental risks and ecological scarcities, and that aims for sustainable development without degrading the environment.
See Economics and Green economy
Greg Mankiw
Nicholas Gregory Mankiw (born February 3, 1958) is an American macroeconomist who is currently the Robert M. Beren Professor of Economics at Harvard University.
Growth accounting
Growth accounting is a procedure used in economics to measure the contribution of different factors to economic growth and to indirectly compute the rate of technological progress, measured as a residual, in an economy.
See Economics and Growth accounting
Guns versus butter model
In macroeconomics, the guns versus butter model is an example of a simple production–possibility frontier.
See Economics and Guns versus butter model
Ha-Joon Chang
Ha-Joon Chang (born 7 October 1963) is a South Korean economist and academic.
See Economics and Ha-Joon Chang
Happiness economics
The economics of happiness or happiness economics is the theoretical, qualitative and quantitative study of happiness and quality of life, including positive and negative affects, well-being, life satisfaction and related concepts – typically tying economics more closely than usual with other social sciences, like sociology and psychology, as well as physical health.
See Economics and Happiness economics
Harriet Martineau
Harriet Martineau (12 June 1802 – 27 June 1876) was an English social theorist.
See Economics and Harriet Martineau
Health economics
Health economics is a branch of economics concerned with issues related to efficiency, effectiveness, value and behavior in the production and consumption of health and healthcare.
See Economics and Health economics
Hesiod
Hesiod (or; Ἡσίοδος Hēsíodos) was an ancient Greek poet generally thought to have been active between 750 and 650 BC, around the same time as Homer.
Heterodox economics
Heterodox economics is any economic thought or theory that contrasts with orthodox schools of economic thought, or that may be beyond neoclassical economics.
See Economics and Heterodox economics
Heterogeneity in economics
In economic theory and econometrics, the term heterogeneity refers to differences across the units being studied.
See Economics and Heterogeneity in economics
Heuristic (psychology)
Heuristics (from Ancient Greek εὑρίσκω, heurískō, "I find, discover") is the process by which humans use mental shortcuts to arrive at decisions.
See Economics and Heuristic (psychology)
Historian
A historian is a person who studies and writes about the past and is regarded as an authority on it.
Household
A household consists of one or more persons who live in the same dwelling.
Human behavior
Human behavior is the potential and expressed capacity (mentally, physically, and socially) of human individuals or groups to respond to internal and external stimuli throughout their life.
See Economics and Human behavior
Human capital
Human capital or human assets is a concept used by economists to designate personal attributes considered useful in the production process.
See Economics and Human capital
Humanistic economics
Humanistic economics is a distinct pattern of economic thought with old historical roots that have been more recently invigorated by E. F. Schumacher's Small Is Beautiful: Economics as if People Mattered (1973).
See Economics and Humanistic economics
Imperfect competition
In economics, imperfect competition refers to a situation where the characteristics of an economic market do not fulfil all the necessary conditions of a perfectly competitive market.
See Economics and Imperfect competition
Imperialism, the Highest Stage of Capitalism
Imperialism, the Highest Stage of Capitalism, originally published as Imperialism, the Newest Stage of Capitalism, is a book written by Vladimir Lenin in 1916 and published in 1917.
See Economics and Imperialism, the Highest Stage of Capitalism
Income distribution
In economics, income distribution covers how a country's total GDP is distributed amongst its population.
See Economics and Income distribution
Income inequality metrics
Income inequality metrics or income distribution metrics are used by social scientists to measure the distribution of income and economic inequality among the participants in a particular economy, such as that of a specific country or of the world in general.
See Economics and Income inequality metrics
Incomplete markets
In economics, incomplete markets are markets in which there does not exist an Arrow–Debreu security for every possible state of nature.
See Economics and Incomplete markets
Index of economics articles
This aims to be a complete article list of economics topics.
See Economics and Index of economics articles
Individual
An individual is one that exists as a distinct entity.
Industrial organization
In economics, industrial organization is a field that builds on the theory of the firm by examining the structure of (and, therefore, the boundaries between) firms and markets.
See Economics and Industrial organization
Inflation
In economics, inflation is a general increase in the prices of goods and services in an economy.
Inflation targeting
In macroeconomics, inflation targeting is a monetary policy where a central bank follows an explicit target for the inflation rate for the medium-term and announces this inflation target to the public.
See Economics and Inflation targeting
Information asymmetry
In contract theory, mechanism design, and economics, an information asymmetry is a situation where one party has more or better information than the other.
See Economics and Information asymmetry
Information economics
Information economics or the economics of information is the branch of microeconomics that studies how information and information systems affect an economy and economic decisions.
See Economics and Information economics
Institutional economics
Institutional economics focuses on understanding the role of the evolutionary process and the role of institutions in shaping economic behavior.
See Economics and Institutional economics
Insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury.
Intermediate goods, producer goods or semi-finished products are goods, such as partly finished goods, used as inputs in the production of other goods including final goods.
See Economics and Intermediate good
International economics
International economics is concerned with the effects upon economic activity from international differences in productive resources and consumer preferences and the international institutions that affect them.
See Economics and International economics
The International Encyclopedia of the Social & Behavioral Sciences, originally edited by Neil J. Smelser and Paul B. Baltes, is a 26-volume work published by Elsevier.
See Economics and International Encyclopedia of the Social & Behavioral Sciences
International finance
International finance (also referred to as international monetary economics or international macroeconomics) is the branch of financial economics broadly concerned with monetary and macroeconomic interrelations between two or more countries.
See Economics and International finance
Investment
Investment is traditionally defined as the "commitment of resources to achieve later benefits".
Investment (macroeconomics)
In macroeconomics, investment "consists of the additions to the nation's capital stock of buildings, equipment, software, and inventories during a year" or, alternatively, investment spending — "spending on productive physical capital such as machinery and construction of buildings, and on changes to inventories — as part of total spending" on goods and services per year.
See Economics and Investment (macroeconomics)
Invisible hand
The invisible hand is a metaphor inspired by the Scottish moral philosopher Adam Smith that describes the incentives which free markets sometimes create for self-interested people to act unintentionally in the public interest.
See Economics and Invisible hand
IS–LM model
The IS–LM model, or Hicks–Hansen model, is a two-dimensional macroeconomic model which is used as a pedagogical tool in macroeconomic teaching.
James M. Buchanan
James McGill Buchanan Jr. (October 3, 1919 – January 9, 2013) was an American economist known for his work on public choice theory originally outlined in his most famous work, The Calculus of Consent, co-authored with Gordon Tullock in 1962.
See Economics and James M. Buchanan
James Samuel Coleman
James Samuel Coleman (May 12, 1926 – March 25, 1995) was an American sociologist, theorist, and empirical researcher, based chiefly at the University of Chicago.
See Economics and James Samuel Coleman
James Tobin
James Tobin (March 5, 1918 – March 11, 2002) was an American economist who served on the Council of Economic Advisers and consulted with the Board of Governors of the Federal Reserve System, and taught at Harvard and Yale Universities.
Janet Yellen
Janet Louise Yellen (born August 13, 1946) is an American economist serving as the 78th United States secretary of the treasury since January 26, 2021.
See Economics and Janet Yellen
Jean-Baptiste Say
Jean-Baptiste Say (5 January 1767 – 15 November 1832) was a liberal French economist and businessman who argued in favor of competition, free trade and lifting restraints on business.
See Economics and Jean-Baptiste Say
Joan Robinson
Joan Violet Robinson (née Maurice; 31 October 1903 – 5 August 1983) was a British economist known for her wide-ranging contributions to economic theory.
See Economics and Joan Robinson
John Bates Clark Medal
The John Bates Clark Medal is awarded by the American Economic Association to "that American economist under the age of forty who is adjudged to have made a significant contribution to economic thought and knowledge." The award is named after the American economist John Bates Clark (1847–1938).
See Economics and John Bates Clark Medal
John de Lugo
John de Lugo (also Juan de Lugo y de Quiroga and Xoan de Lugo) (1583–1660), a Spanish Jesuit and Cardinal, was an eminent scholastic theologian of the Baroque.
See Economics and John de Lugo
John Hicks
Sir John Richard Hicks (8 April 1904 – 20 May 1989) was a British economist.
John Maynard Keynes
John Maynard Keynes, 1st Baron Keynes (5 June 1883 – 21 April 1946), was an English economist and philosopher whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments.
See Economics and John Maynard Keynes
John Stuart Mill
John Stuart Mill (20 May 1806 – 7 May 1873) was an English philosopher, political economist, politician and civil servant.
See Economics and John Stuart Mill
John von Neumann
John von Neumann (Neumann János Lajos; December 28, 1903 – February 8, 1957) was a Hungarian and American mathematician, physicist, computer scientist, engineer and polymath.
See Economics and John von Neumann
Joseph Schumpeter
Joseph Alois Schumpeter (February 8, 1883 – January 8, 1950) was an Austrian political economist.
See Economics and Joseph Schumpeter
Joseph Stiglitz
Joseph Eugene Stiglitz (born February 9, 1943) is an American New Keynesian economist, a public policy analyst, political activist, and a full professor at Columbia University.
See Economics and Joseph Stiglitz
Journal of Economic Perspectives
The Journal of Economic Perspectives (JEP) is an economic journal published by the American Economic Association.
See Economics and Journal of Economic Perspectives
Julian Simon
Julian Lincoln Simon (February 12, 1932 – February 8, 1998) was an American economist.
See Economics and Julian Simon
Karl Kautsky
Karl Johann Kautsky (16 October 1854 – 17 October 1938) was a Czech-Austrian philosopher, journalist, and Marxist theorist.
See Economics and Karl Kautsky
Karl Marx
Karl Marx (5 May 1818 – 14 March 1883) was a German-born philosopher, political theorist, economist, historian, sociologist, journalist, and revolutionary socialist.
Kevin M. Murphy
Kevin Miles Murphy (born 1958) is the George J. Stigler Distinguished Service Professor of Economics at the University of Chicago Booth School of Business and a Senior Fellow at the Hoover Institution.
See Economics and Kevin M. Murphy
Keynesian economics
Keynesian economics (sometimes Keynesianism, named after British economist John Maynard Keynes) are the various macroeconomic theories and models of how aggregate demand (total spending in the economy) strongly influences economic output and inflation.
See Economics and Keynesian economics
Labor theory of value
The labor theory of value (LTV) is a theory of value that argues that the exchange value of a good or service is determined by the total amount of "socially necessary labor" required to produce it.
See Economics and Labor theory of value
Labour economics
Labour economics, or labor economics, seeks to understand the functioning and dynamics of the markets for wage labour.
See Economics and Labour economics
Laissez-faire
Laissez-faire (or, from laissez faire) is a type of economic system in which transactions between private groups of people are free from any form of economic interventionism (such as subsidies or regulations).
See Economics and Laissez-faire
Land (economics)
In economics, land comprises all naturally occurring resources as well as geographic land.
See Economics and Land (economics)
Large-scale macroeconometric model
Following the development of Keynesian economics, applied economics began developing forecasting models based on economic data including national income and product accounting data.
See Economics and Large-scale macroeconometric model
Lausanne School
The Lausanne School of economics, sometimes referred to as the Mathematical School, refers to the neoclassical economics school of thought surrounding Léon Walras and Vilfredo Pareto.
See Economics and Lausanne School
Law and economics
Law and economics, or economic analysis of law, is the application of microeconomic theory to the analysis of law.
See Economics and Law and economics
Law of demand
In microeconomics, the law of demand is a fundamental principle which states that there is an inverse relationship between price and quantity demanded.
See Economics and Law of demand
Lawrence Klein
Lawrence Robert Klein (September 14, 1920 – October 20, 2013) was an American economist.
See Economics and Lawrence Klein
Liberal arts education
Liberal arts education (from Latin 'free' and 'art or principled practice') is the traditional academic course in Western higher education.
See Economics and Liberal arts education
Linear algebra
Linear algebra is the branch of mathematics concerning linear equations such as: linear maps such as: and their representations in vector spaces and through matrices.
See Economics and Linear algebra
Lionel Robbins
Lionel Charles Robbins, Baron Robbins, (22 November 1898 – 15 May 1984) was a British economist, and prominent member of the economics department at the London School of Economics (LSE).
See Economics and Lionel Robbins
List of countries by inequality-adjusted Human Development Index
This is a list of countries by inequality-adjusted Human Development Index (IHDI), as published by the UNDP in its 2024 Human Development Report.
See Economics and List of countries by inequality-adjusted Human Development Index
List of economics awards
This list of economics awards is an index to articles about notable awards for economics.
See Economics and List of economics awards
List of economics films
This is a list of economics films.
See Economics and List of economics films
List of national and international statistical services
The following is a list of national and international statistical services.
See Economics and List of national and international statistical services
Long run and short run
In economics, the long-run is a theoretical concept in which all markets are in equilibrium, and all prices and quantities have fully adjusted and are in equilibrium.
See Economics and Long run and short run
Lucas critique
The Lucas critique argues that it is naïve to try to predict the effects of a change in economic policy entirely on the basis of relationships observed in historical data, especially highly aggregated historical data.
See Economics and Lucas critique
Ludwig von Mises
Ludwig Heinrich Edler von Mises (29 September 1881 – 10 October 1973) was an Austrian–American Austrian School economist, historian, logician, and sociologist.
See Economics and Ludwig von Mises
Luis de Molina
Luis de Molina (29 September 1535 – 12 October 1600) was a Spanish Jesuit priest, theologian and jurist follower of Second scholasticism of the School of Salamanca.
See Economics and Luis de Molina
Macroeconomics
Macroeconomics is a branch of economics that deals with the performance, structure, behavior, and decision-making of an economy as a whole.
See Economics and Macroeconomics
Mainstream economics
Mainstream economics is the body of knowledge, theories, and models of economics, as taught by universities worldwide, that are generally accepted by economists as a basis for discussion.
See Economics and Mainstream economics
Managerial economics
Managerial economics is a branch of economics involving the application of economic methods in the organizational decision-making process.
See Economics and Managerial economics
Marginal utility
In economics, marginal utility describes the change in utility (pleasure or satisfaction resulting from the consumption) of one unit of a good or service.
See Economics and Marginal utility
Marginalism
Marginalism is a theory of economics that attempts to explain the discrepancy in the value of goods and services by reference to their secondary, or marginal, utility.
Mark Granovetter
Mark Sanford Granovetter (born October 20, 1943) is an American sociologist and professor at Stanford University.
See Economics and Mark Granovetter
Market (economics)
In economics, a market is a composition of systems, institutions, procedures, social relations or infrastructures whereby parties engage in exchange.
See Economics and Market (economics)
Market clearing
In economics, market clearing is the process by which, in an economic market, the supply of whatever is traded is equated to the demand so that there is no excess supply or demand, ensuring that there is neither a surplus nor a shortage.
See Economics and Market clearing
Market distortion
In neoclassical economics, a market distortion is any event in which a market reaches a market clearing price for an item that is substantially different from the price that a market would achieve while operating under conditions of perfect competition and state enforcement of legal contracts and the ownership of private property.
See Economics and Market distortion
Market economy
A market economy is an economic system in which the decisions regarding investment, production and distribution to the consumers are guided by the price signals created by the forces of supply and demand.
See Economics and Market economy
Market failure
In neoclassical economics, market failure is a situation in which the allocation of goods and services by a free market is not Pareto efficient, often leading to a net loss of economic value.
See Economics and Market failure
Market power
In economics, market power refers to the ability of a firm to influence the price at which it sells a product or service by manipulating either the supply or demand of the product or service to increase economic profit.
See Economics and Market power
Market structure
Market structure, in economics, depicts how firms are differentiated and categorised based on the types of goods they sell (homogeneous/heterogeneous) and how their operations are affected by external factors and elements.
See Economics and Market structure
Market system
A market system (or market ecosystem) is any systematic process enabling many market players to offer and demand: helping buyers and sellers interact and make deals.
See Economics and Market system
Marxian economics
Marxian economics, or the Marxian school of economics, is a heterodox school of political economic thought.
See Economics and Marxian economics
Mary Paley Marshall
Mary Marshall (née Paley; 24 October 1850 – 19 March 1944) was an economist who in 1874 had been one of the first women to take the Tripos examination at Cambridge University – although, as a woman, she had been excluded from receiving a degree.
See Economics and Mary Paley Marshall
Master of Economics
The Master of Economics (MEcon or MEc), Times Higher Education Bureau of Labor Statistics: is a postgraduate master's degree in economics comprising training in economic theory, econometrics, and/or applied economics.
See Economics and Master of Economics
Mathematical economics
Mathematical economics is the application of mathematical methods to represent theories and analyze problems in economics.
See Economics and Mathematical economics
Mathematical optimization
Mathematical optimization (alternatively spelled optimisation) or mathematical programming is the selection of a best element, with regard to some criteria, from some set of available alternatives.
See Economics and Mathematical optimization
Mathematics
Mathematics is a field of study that discovers and organizes abstract objects, methods, theories and theorems that are developed and proved for the needs of empirical sciences and mathematics itself.
Max Weber
Maximilian Karl Emil Weber (21 April 186414 June 1920) was a German sociologist, historian, jurist, and political economist who was one of the central figures in the development of sociology and the social sciences more generally.
Measures of national income and output
A variety of measures of national income and output are used in economics to estimate total economic activity in a country or region, including gross domestic product (GDP), gross national product (GNP), net national income (NNI), and adjusted national income (NNI adjusted for natural resource depletion – also called as NNI at factor cost).
See Economics and Measures of national income and output
Mechanism design
Mechanism design, sometimes called implementation theory or institution design, is a branch of economics, social choice, and game theory that deals with designing game forms (or mechanisms) to implement a given social choice function.
See Economics and Mechanism design
Medium of exchange
In economics, a medium of exchange is any item that is widely acceptable in exchange for goods and services.
See Economics and Medium of exchange
Melissa Dell
Melissa Dell (born) is the Andrew E. Furer Professor of Economics at Harvard University.
See Economics and Melissa Dell
Mercantilism
Mercantilism is a nationalist economic policy that is designed to maximize the exports and minimize the imports for an economy.
See Economics and Mercantilism
Merit good
The economics concept of a merit good, originated by Richard Musgrave (1957, 1959), is a commodity which is judged that an individual or society should have on the basis of some concept of benefit, rather than ability and willingness to pay.
Methodological individualism
In the social sciences, methodological individualism is a framework that describes social phenomena as a consequence of subjective personal motivations by individual actors.
See Economics and Methodological individualism
Microeconomics
Microeconomics is a branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms.
See Economics and Microeconomics
Microfoundations
Microfoundations are an effort to understand macroeconomic phenomena in terms of economic agents' behaviors and their interactions.
See Economics and Microfoundations
Milton Friedman
Milton Friedman (July 31, 1912 – November 16, 2006) was an American economist and statistician who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory and the complexity of stabilization policy.
See Economics and Milton Friedman
Modernity
Modernity, a topic in the humanities and social sciences, is both a historical period (the modern era) and the ensemble of particular socio-cultural norms, attitudes and practices that arose in the wake of the Renaissancein the Age of Reason of 17th-century thought and the 18th-century Enlightenment.
Monetarism
Monetarism is a school of thought in monetary economics that emphasizes the role of policy-makers in controlling the amount of money in circulation.
Monetary economics
Monetary economics is the branch of economics that studies the different theories of money: it provides a framework for analyzing money and considers its functions (such as medium of exchange, store of value, and unit of account), and it considers how money can gain acceptance purely because of its convenience as a public good.
See Economics and Monetary economics
Monetary policy
Monetary policy is the policy adopted by the monetary authority of a nation to affect monetary and other financial conditions to accomplish broader objectives like high employment and price stability (normally interpreted as a low and stable rate of inflation).
See Economics and Monetary policy
Monetary transmission mechanism
The monetary transmission mechanism is the process by which asset prices and general economic conditions are affected as a result of monetary policy decisions.
See Economics and Monetary transmission mechanism
Money
Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context.
Monopolistic competition
Monopolistic competition is a type of imperfect competition such that there are many producers competing against each other but selling products that are differentiated from one another (e.g., branding, quality) and hence not perfect substitutes.
See Economics and Monopolistic competition
Monopoly
A monopoly (from Greek label and label), as described by Irving Fisher, is a market with the "absence of competition", creating a situation where a specific person or enterprise is the only supplier of a particular thing.
Monopsony
In economics, a monopsony is a market structure in which a single buyer substantially controls the market as the major purchaser of goods and services offered by many would-be sellers.
Moral hazard
In economics, a moral hazard is a situation where an economic actor has an incentive to increase its exposure to risk because it does not bear the full costs of that risk.
See Economics and Moral hazard
National Bureau of Economic Research
The National Bureau of Economic Research (NBER) is an American private nonprofit research organization "committed to undertaking and disseminating unbiased economic research among public policymakers, business professionals, and the academic community." The NBER is known for proposing start and end dates for recessions in the United States.
See Economics and National Bureau of Economic Research
Natural capital
Natural capital is the world's stock of natural resources, which includes geology, soils, air, water and all living organisms.
See Economics and Natural capital
Natural experiment
A natural experiment is a study in which individuals (or clusters of individuals) are exposed to the experimental and control conditions that are determined by nature or by other factors outside the control of the investigators.
See Economics and Natural experiment
Natural law
Natural law (ius naturale, lex naturalis) is a system of law based on a close observation of natural order and human nature, from which values, thought by natural law's proponents to be intrinsic to human nature, can be deduced and applied independently of positive law (the express enacted laws of a state or society).
Natural monopoly
A natural monopoly is a monopoly in an industry in which high infrastructural costs and other barriers to entry relative to the size of the market give the largest supplier in an industry, often the first supplier in a market, an overwhelming advantage over potential competitors.
See Economics and Natural monopoly
Natural science
Natural science is one of the branches of science concerned with the description, understanding and prediction of natural phenomena, based on empirical evidence from observation and experimentation.
See Economics and Natural science
Nature (journal)
Nature is a British weekly scientific journal founded and based in London, England.
See Economics and Nature (journal)
Negative relationship
In statistics, there is a negative relationship or inverse relationship between two variables if higher values of one variable tend to be associated with lower values of the other.
See Economics and Negative relationship
Neoclassical economics
Neoclassical economics is an approach to economics in which the production, consumption, and valuation (pricing) of goods and services are observed as driven by the supply and demand model.
See Economics and Neoclassical economics
Neoclassical synthesis
The neoclassical synthesis (NCS), neoclassical–Keynesian synthesis,Mankiw, N. Gregory.
See Economics and Neoclassical synthesis
Neuroeconomics
Neuroeconomics is an interdisciplinary field that seeks to explain human decision-making, the ability to process multiple alternatives and to follow through on a plan of action.
See Economics and Neuroeconomics
New classical macroeconomics
New classical macroeconomics, sometimes simply called new classical economics, is a school of thought in macroeconomics that builds its analysis entirely on a neoclassical framework.
See Economics and New classical macroeconomics
New Keynesian economics
New Keynesian economics is a school of macroeconomics that strives to provide microeconomic foundations for Keynesian economics.
See Economics and New Keynesian economics
New neoclassical synthesis
The new neoclassical synthesis (NNS), which is occasionally referred as the New Consensus, is the fusion of the major, modern macroeconomic schools of thought – new classical macroeconomics/real business cycle theory and early New Keynesian economics – into a consensus view on the best way to explain short-run fluctuations in the economy.
See Economics and New neoclassical synthesis
Nicholas Barr
Nicholas Barr is a British economist, currently serving as professor of public economics at the London School of Economics (LSE).
See Economics and Nicholas Barr
Nicholas Georgescu-Roegen
Nicholas Georgescu-Roegen (born Nicolae Georgescu, 4 February 1906 – 30 October 1994) was a Romanian mathematician, statistician and economist.
See Economics and Nicholas Georgescu-Roegen
Nobel Memorial Prize in Economic Sciences
The Nobel Memorial Prize in Economic Sciences, officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel (Sveriges riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), is an economics award funded by Sveriges Riksbank and administered by the Nobel Foundation.
See Economics and Nobel Memorial Prize in Economic Sciences
Nobel Prize
The Nobel Prizes (Nobelpriset; Nobelprisen) are five separate prizes awarded to those who, during the preceding year, have conferred the greatest benefit to humankind, as established by the 1895 will of Swedish chemist, engineer, and industrialist Alfred Nobel, in the year before he died.
Nominal rigidity
In economics, nominal rigidity, also known as price-stickiness or wage-stickiness, is a situation in which a nominal price is resistant to change.
See Economics and Nominal rigidity
Normal good
In economics, a normal good is a type of a good which experiences an increase in demand due to an increase in income, unlike inferior goods, for which the opposite is observed.
Normative economics
Normative economics (as opposed to positive economics) is the part of economics that deals with normative statements.
See Economics and Normative economics
Nuclear strategy
Nuclear strategy involves the development of doctrines and strategies for the production and use of nuclear weapons.
See Economics and Nuclear strategy
Observational study
In fields such as epidemiology, social sciences, psychology and statistics, an observational study draws inferences from a sample to a population where the independent variable is not under the control of the researcher because of ethical concerns or logistical constraints.
See Economics and Observational study
Oeconomicus
The Oeconomicus (Οἰκονομικός) by Xenophon is a Socratic dialogue principally about household management and agriculture.
Oikos
Oikos (Ancient Greek: οἶκος (pronunciation oi•kos; plural: οἶκοι) was, in Ancient Greece, two related but distinct concepts: the family and the family's house. Its meaning shifted even within texts. The oikos was the basic unit of society in most Greek city-states.
Okun's law
In economics, Okun's law is an empirically observed relationship between unemployment and losses in a country's production.
Oligopsony
An oligopsony (from Greek ὀλίγοι (oligoi) "few" and ὀψωνία (opsōnia) "purchase") is a market form in which the number of buyers is small while the number of sellers in theory could be large.
Olivier Blanchard
Olivier Jean Blanchard (born December 27, 1948) is a French economist and professor. He is serving as the Robert M. Solow Professor Emeritus of Economics at the Massachusetts Institute of Technology and as the C. Fred Bergsten Senior Fellow at the Peterson Institute for International Economics. Blanchard was the chief economist at the International Monetary Fund from 1 September 2008 to 8 September 2015.
See Economics and Olivier Blanchard
Open market operation
In macroeconomics, an open market operation (OMO) is an activity by a central bank to exchange liquidity in its currency with a bank or a group of banks.
See Economics and Open market operation
Operations research
Operations research (operational research) (U.S. Air Force Specialty Code: Operations Analysis), often shortened to the initialism OR, is a discipline that deals with the development and application of analytical methods to improve decision-making.
See Economics and Operations research
Opportunity cost
In microeconomic theory, the opportunity cost of a choice is the value of the best alternative forgone where, given limited resources, a choice needs to be made between several mutually exclusive alternatives.
See Economics and Opportunity cost
Ordinal utility
In economics, an ordinal utility function is a function representing the preferences of an agent on an ordinal scale.
See Economics and Ordinal utility
Organization
An organization or organisation (Commonwealth English; see spelling differences), is an entity—such as a company, an institution (formal organization), or an association—comprising one or more people and having a particular purpose.
See Economics and Organization
Oskar Morgenstern
Oskar Morgenstern (January 24, 1902 – July 26, 1977) was a German-born economist.
See Economics and Oskar Morgenstern
Outline of economics
The following outline is provided as an overview of and topical guide to economics: Economics – analyzes the production, distribution, and consumption of goods and services.
See Economics and Outline of economics
Outline of physical science
Physical science is a branch of natural science that studies non-living systems, in contrast to life science.
See Economics and Outline of physical science
Output (economics)
In economics, output is the quantity and quality of goods or services produced in a given time period, within a given economic network, whether consumed or used for further production.
See Economics and Output (economics)
Output gap
The GDP gap or the output gap is the difference between actual GDP or actual output and potential GDP, in an attempt to identify the current economic position over the business cycle.
Paradigm
In science and philosophy, a paradigm is a distinct set of concepts or thought patterns, including theories, research methods, postulates, and standards for what constitute legitimate contributions to a field.
Pareto efficiency
In welfare economics, a Pareto improvement formalizes the idea of an outcome being "better in every possible way".
See Economics and Pareto efficiency
Partial equilibrium
In economics, partial equilibrium is a condition of economic equilibrium which analyzes only a single market, ceteris paribus (everything else remaining constant) except for the one change at a time being analyzed.
See Economics and Partial equilibrium
Partnership
A partnership is an agreement where parties agree to cooperate to advance their mutual interests.
Paul Samuelson
Paul Anthony Samuelson (May 15, 1915 – December 13, 2009) was an American economist who was the first American to win the Nobel Memorial Prize in Economic Sciences.
See Economics and Paul Samuelson
Per capita
Per capita is a Latin phrase literally meaning "by heads" or "for each head", and idiomatically used to mean "per person".
Perfect competition
In economics, specifically general equilibrium theory, a perfect market, also known as an atomistic market, is defined by several idealizing conditions, collectively called perfect competition, or atomistic competition.
See Economics and Perfect competition
Perfect information
In economics, perfect information (sometimes referred to as "no hidden information") is a feature of perfect competition.
See Economics and Perfect information
Permanent income hypothesis
The permanent income hypothesis (PIH) is a model in the field of economics to explain the formation of consumption patterns.
See Economics and Permanent income hypothesis
Peter Hedström
Peter Hedström is one of the founders of the field of analytical sociology.
See Economics and Peter Hedström
Philology
Philology is the study of language in oral and written historical sources.
Philosophy and economics
Philosophy and economics studies topics such as public economics, behavioural economics, rationality, justice, history of economic thought, rational choice, the appraisal of economic outcomes, institutions and processes, the status of highly idealized economic models, the ontology of economic phenomena and the possibilities of acquiring knowledge of them.
See Economics and Philosophy and economics
Physiocracy
Physiocracy (from the Greek for "government of nature") is an economic theory developed by a group of 18th-century Age of Enlightenment French economists who believed that the wealth of nations derived solely from the value of "land agriculture" or "land development" and that agricultural products should be highly priced.
Policy
Policy is a deliberate system of guidelines to guide decisions and achieve rational outcomes.
Polis
Polis (πόλις), plural poleis (πόλεις), means ‘city’ in ancient Greek.
Political economy
Political economy is a branch of political science and economics studying economic systems (e.g. markets and national economies) and their governance by political systems (e.g. law, institutions, and government).
See Economics and Political economy
Political science
Political science is the scientific study of politics.
See Economics and Political science
Population growth
Population growth is the increase in the number of people in a population or dispersed group.
See Economics and Population growth
Positive economics
Positive economics (as opposed to normative economics) is the part of economics that deals with positive statements.
See Economics and Positive economics
Post-Keynesian economics
Post-Keynesian economics is a school of economic thought with its origins in The General Theory of John Maynard Keynes, with subsequent development influenced to a large degree by Michał Kalecki, Joan Robinson, Nicholas Kaldor, Sidney Weintraub, Paul Davidson, Piero Sraffa and Jan Kregel.
See Economics and Post-Keynesian economics
Potential output
In economics, potential output (also referred to as "natural gross domestic product") refers to the highest level of real gross domestic product (potential output) that can be sustained over the long term.
See Economics and Potential output
Poverty
Poverty is a state or condition in which an individual lacks the financial resources and essentials for a certain standard of living.
Preference (economics)
In economics, and in other social sciences, preference refers to an order by which an agent, while in search of an "optimal choice", ranks alternatives based on their respective utility.
See Economics and Preference (economics)
Price
A price is the (usually not negative) quantity of payment or compensation expected, required, or given by one party to another in return for goods or services.
Price system
In economics, a price system is a system through which the valuations of any forms of property (tangible or intangible) are determined.
See Economics and Price system
Principles of Economics (Marshall book)
Principles of Economics is a leading political economy or economics textbook of Alfred Marshall (1842–1924), first published in 1890.
See Economics and Principles of Economics (Marshall book)
Private good
A private good is defined in economics as "an item that yields positive benefits to people" that is excludable, i.e. its owners can exercise private property rights, preventing those who have not paid for it from using the good or consuming its benefits; and rivalrous, i.e. consumption by one necessarily prevents that of another.
See Economics and Private good
Product (business)
In marketing, a product is an object, or system, or service made available for consumer use as of the consumer demand; it is anything that can be offered to a market to satisfy the desire or need of a customer.
See Economics and Product (business)
Production (economics)
Production is the process of combining various inputs, both material (such as metal, wood, glass, or plastics) and immaterial (such as plans, or knowledge) in order to create output.
See Economics and Production (economics)
Production–possibility frontier
In microeconomics, a production–possibility frontier (PPF), production possibility curve (PPC), or production possibility boundary (PPB) is a graphical representation showing all the possible options of output for two goods that can be produced using all factors of production, where the given resources are fully and efficiently utilized per unit time.
See Economics and Production–possibility frontier
Productive efficiency
In microeconomic theory, productive efficiency (or production efficiency) is a situation in which the economy or an economic system (e.g., bank, hospital, industry, country) operating within the constraints of current industrial technology cannot increase production of one good without sacrificing production of another good.
See Economics and Productive efficiency
Public bad
A public bad, in economics, is the symmetrical opposite of a public good.
Public choice
Public choice, or public choice theory, is "the use of economic tools to deal with traditional problems of political science."Gordon Tullock, 1987 2008, "public choice," The New Palgrave Dictionary of Economics.
See Economics and Public choice
Public economics
Public economics (or economics of the public sector) is the study of government policy through the lens of economic efficiency and equity.
See Economics and Public economics
Public good (economics)
In economics, a public good (also referred to as a social good or collective good)Oakland, W. H. (1987).
See Economics and Public good (economics)
Public policy
Public policy is an institutionalized proposal or a decided set of elements like laws, regulations, guidelines, and actions to solve or address relevant and real-world problems, guided by a conception and often implemented by programs.
See Economics and Public policy
Public sector
The public sector, also called the state sector, is the part of the economy composed of both public services and public enterprises.
See Economics and Public sector
Purchasing power
Purchasing power refers to the amount of products and services available for purchase with a certain currency unit.
See Economics and Purchasing power
Qualitative economics
Qualitative economics is the representation and analysis of information about the direction of change (+, -, or 0) in some economic variable(s) as related to change of some other economic variable(s).
See Economics and Qualitative economics
Ramsey–Cass–Koopmans model
The Ramsey–Cass–Koopmans model, or Ramsey growth model, is a neoclassical model of economic growth based primarily on the work of Frank P. Ramsey, with significant extensions by David Cass and Tjalling Koopmans.
See Economics and Ramsey–Cass–Koopmans model
Rational choice theory
Rational choice theory refers to a set of guidelines that help understand economic and social behaviour.
See Economics and Rational choice theory
Rational expectations
Rational expectations is an economic theory that seeks to infer the macroeconomic consequences of individuals' decisions based on all available knowledge.
See Economics and Rational expectations
Real and nominal value
In economics, nominal value refers to value measured in terms of absolute money amounts, whereas real value is considered and measured against the actual goods or services for which it can be exchanged at a given time.
See Economics and Real and nominal value
Real business-cycle theory
Real business-cycle theory (RBC theory) is a class of new classical macroeconomics models in which business-cycle fluctuations are accounted for by real (in contrast to nominal) shocks.
See Economics and Real business-cycle theory
Recession
In economics, a recession is a business cycle contraction that occurs when there is a general decline in economic activity.
Regression analysis
In statistical modeling, regression analysis is a set of statistical processes for estimating the relationships between a dependent variable (often called the 'outcome' or 'response' variable, or a 'label' in machine learning parlance) and one or more independent variables (often called 'predictors', 'covariates', 'explanatory variables' or 'features').
See Economics and Regression analysis
Regulation
Regulation is the management of complex systems according to a set of rules and trends.
Regulatory economics
Regulatory economics is the application of law by government or regulatory agencies for various economics-related purposes, including remedying market failure, protecting the environment and economic management.
See Economics and Regulatory economics
Rent-seeking
Rent-seeking is the act of growing one's existing wealth by manipulating the social or political environment without creating new wealth.
See Economics and Rent-seeking
Research Papers in Economics
Research Papers in Economics (RePEc) is a collaborative effort of hundreds of volunteers in many countries to enhance the dissemination of research in economics.
See Economics and Research Papers in Economics
Research program
A research program (British English: research programme) is a professional network of scientists conducting basic research.
See Economics and Research program
Resource allocation
In economics, resource allocation is the assignment of available resources to various uses.
See Economics and Resource allocation
Restructuring
Restructuring or Reframing is the corporate management term for the act of reorganizing the legal, ownership, operational, or other structures of a company for the purpose of making it more profitable, or better organized for its present needs.
See Economics and Restructuring
Returns to scale
In economics, the concept of returns to scale arises in the context of a firm's production function.
See Economics and Returns to scale
Revolution
In political science, a revolution (revolutio, 'a turn around') is a rapid, fundamental transformation of a society's state, class, ethnic or religious structures.
Ricardian equivalence
The Ricardian equivalence proposition (also known as the Ricardo–de Viti–Barro equivalence theorem) is an economic hypothesis holding that consumers are forward-looking and so internalize the government's budget constraint when making their consumption decisions.
See Economics and Ricardian equivalence
Richard Swedberg
Richard Swedberg (born 18 May 1948) is a Swedish sociologist.
See Economics and Richard Swedberg
Right to property
The right to property, or the right to own property (cf. ownership), is often classified as a human right for natural persons regarding their possessions.
See Economics and Right to property
Risk aversion
In economics and finance, risk aversion is the tendency of people to prefer outcomes with low uncertainty to those outcomes with high uncertainty, even if the average outcome of the latter is equal to or higher in monetary value than the more certain outcome.
See Economics and Risk aversion
Robert Lucas Jr.
Robert Emerson Lucas Jr. (September 15, 1937 – May 15, 2023) was an American economist at the University of Chicago.
See Economics and Robert Lucas Jr.
Ronald Coase
Ronald Harry Coase (29 December 1910 – 2 September 2013) was a British economist and author.
See Economics and Ronald Coase
Rosa Luxemburg
Rosa Luxemburg (Róża Luksemburg,;; born Rozalia Luksenburg; 5 March 1871 – 15 January 1919) was a Polish and naturalised-German revolutionary socialist, orthodox Marxist, and anti-War activist during the First World War.
See Economics and Rosa Luxemburg
Routledge
Routledge is a British multinational publisher.
Rudolf Hilferding
Rudolf Hilferding (10 August 1877 – 11 February 1941) was an Austrian-born Marxist economist, socialist theorist,International Institute of Social History, Rodolf Hilferding Papers.
See Economics and Rudolf Hilferding
Saltwater and freshwater economics
In economics, the freshwater school (or sometimes sweetwater school) comprises US-based macroeconomists who, in the early 1970s, challenged the prevailing consensus in macroeconomics research.
See Economics and Saltwater and freshwater economics
Satire
Satire is a genre of the visual, literary, and performing arts, usually in the form of fiction and less frequently non-fiction, in which vices, follies, abuses, and shortcomings are held up to ridicule, often with the intent of exposing or shaming the perceived flaws of individuals, corporations, government, or society itself into improvement.
Scarcity
In economics, scarcity "refers to the basic fact of life that there exists only a finite amount of human and nonhuman resources which the best technical knowledge is capable of using to produce only limited maximum amounts of each economic good."Samuelson, P. Anthony., Samuelson, W. (1980).
Schools of economic thought
In the history of economic thought, a school of economic thought is a group of economic thinkers who share or shared a mutual perspective on the way economies function.
See Economics and Schools of economic thought
Science
Science is a strict systematic discipline that builds and organizes knowledge in the form of testable hypotheses and predictions about the world.
Scientific American
Scientific American, informally abbreviated SciAm or sometimes SA, is an American popular science magazine.
See Economics and Scientific American
Scientific control
A scientific control is an experiment or observation designed to minimize the effects of variables other than the independent variable (i.e. confounding variables).
See Economics and Scientific control
Scottish people
The Scottish people or Scots (Scots fowk; Albannaich) are an ethnic group and nation native to Scotland.
See Economics and Scottish people
Second scholasticism
Second scholasticism, also called Modern scholasticism, is the period of revival of scholastic system of philosophy and theology, in the 16th and 17th centuries.
See Economics and Second scholasticism
Service (economics)
A service is an act or use for which a consumer, company, or government is willing to pay.
See Economics and Service (economics)
Slope
In mathematics, the slope or gradient of a line is a number that describes the direction and steepness of the line.
A social relation is the fundamental unit of analysis within the social sciences, and describes any voluntary or involuntary interpersonal relationship between two or more individuals within and/or between groups.
See Economics and Social relation
Social science is one of the branches of science, devoted to the study of societies and the relationships among individuals within those societies.
See Economics and Social science
In welfare economics and social choice theory, a social welfare function—also called a social ordering, ranking, utility, or choice function—is a function that ranks a set of social states by their desirability.
See Economics and Social welfare function
Socialism is an economic and political philosophy encompassing diverse economic and social systems characterised by social ownership of the means of production, as opposed to private ownership.
Society
A society is a group of individuals involved in persistent social interaction or a large social group sharing the same spatial or social territory, typically subject to the same political authority and dominant cultural expectations.
Socioeconomics
Socioeconomics (also known as social economics) is the social science that studies how economic activity affects and is shaped by social processes.
See Economics and Socioeconomics
Sociology
Sociology is the scientific study of human society that focuses on society, human social behavior, patterns of social relationships, social interaction, and aspects of culture associated with everyday life.
Solidarity economy
Solidarity economy or Social and Solidarity Economy (SSE) refers to a wide range of economic activities that aim to prioritize social profitability instead of purely financial profits.
See Economics and Solidarity economy
Stabilization policy
In macroeconomics, a stabilization policy is a package or set of measures introduced to stabilize a financial system or economy.
See Economics and Stabilization policy
Statistical significance
In statistical hypothesis testing, a result has statistical significance when a result at least as "extreme" would be very infrequent if the null hypothesis were true.
See Economics and Statistical significance
Statistics
Statistics (from German: Statistik, "description of a state, a country") is the discipline that concerns the collection, organization, analysis, interpretation, and presentation of data.
Stock and flow
Economics, business, accounting, and related fields often distinguish between quantities that are stocks and those that are flows.
See Economics and Stock and flow
Stockholm School (economics)
The Stockholm School (Stockholmsskolan) is a school of economic thought.
See Economics and Stockholm School (economics)
Structural change
In economics, structural change is a shift or change in the basic ways a market or economy functions or operates.
See Economics and Structural change
Structural unemployment
Structural unemployment is a form of involuntary unemployment caused by a mismatch between the skills that workers in the economy can offer, and the skills demanded of workers by employers (also known as the skills gap).
See Economics and Structural unemployment
Structuralist economics
Structuralist economics is an approach to economics that emphasizes the importance of taking into account structural features (typically) when undertaking economic analysis.
See Economics and Structuralist economics
Substitute good
In microeconomics, substitute goods are two goods that can be used for the same purpose by consumers.
See Economics and Substitute good
Substitution effect
In economics and particularly in consumer choice theory, the substitution effect is one component of the effect of a change in the price of a good upon the amount of that good demanded by a consumer, the other being the income effect.
See Economics and Substitution effect
Supply and demand
In microeconomics, supply and demand is an economic model of price determination in a market.
See Economics and Supply and demand
Surplus value
In Marxian economics, surplus value is the difference between the amount raised through a sale of a product and the amount it cost to manufacture it: i.e. the amount raised through sale of the product minus the cost of the materials, plant and labour power.
See Economics and Surplus value
Susan Athey
Susan Carleton Athey (born) is an American economist.
Tariff
A tariff is a tax imposed by the government of a country or by a supranational union on imports or exports of goods.
Tax incidence
In economics, tax incidence or tax burden is the effect of a particular tax on the distribution of economic welfare.
See Economics and Tax incidence
Technical progress (economics)
The technical progress function is a concept developed by Nicholas Kaldor to explain the rate of growth of labour productivity, as a measure of technical progress.
See Economics and Technical progress (economics)
Technology
Technology is the application of conceptual knowledge to achieve practical goals, especially in a reproducible way.
The Accumulation of Capital
The Accumulation of Capital (full title: The Accumulation of Capital: A Contribution to an Economic Explanation of Imperialism, Die Akkumulation des Kapitals: Ein Beitrag zur ökonomischen Erklärung des Imperialismus) is the principal book-length work of Rosa Luxemburg, first published in 1913, and the only work Luxemburg published on economics during her lifetime.
See Economics and The Accumulation of Capital
The Class Struggle (Erfurt Program)
The Class Struggle (Erfurt Program) (Das Erfurter Programm in seinem grundsätzlichen Theil erläutert von Karl Kautsky) is an 1892 book-length work by Karl Kautsky.
See Economics and The Class Struggle (Erfurt Program)
The Development of Capitalism in Russia
The Development of Capitalism in Russia was an early economic work by Lenin written whilst he was in exile in Siberia.
See Economics and The Development of Capitalism in Russia
The dismal science
The dismal science is a derogatory term for the discipline of economics.
See Economics and The dismal science
The Economist
The Economist is a British weekly newspaper published in printed magazine format and digitally.
See Economics and The Economist
The General Theory of Employment, Interest and Money
The General Theory of Employment, Interest and Money is a book by English economist John Maynard Keynes published in February 1936.
See Economics and The General Theory of Employment, Interest and Money
The Journal of Law and Economics
The Journal of Law and Economics is an academic journal published by the University of Chicago Press.
See Economics and The Journal of Law and Economics
The Market for Lemons
"The Market for 'Lemons': Quality Uncertainty and the Market Mechanism" is a widely cited seminal paper in the field of economics which explores the concept of asymmetric information in markets.
See Economics and The Market for Lemons
The New Palgrave Dictionary of Economics
The New Palgrave Dictionary of Economics (2018), 3rd ed., is a twenty-volume reference work on economics published by Palgrave Macmillan.
See Economics and The New Palgrave Dictionary of Economics
The New York Times
The New York Times (NYT) is an American daily newspaper based in New York City.
See Economics and The New York Times
The Philosophy of Money
The Philosophy of Money (1900) is a book on economic sociology by German sociologist and social philosopher Georg Simmel.
See Economics and The Philosophy of Money
The Protestant Ethic and the Spirit of Capitalism
The Protestant Ethic and the Spirit of Capitalism (Die protestantische Ethik und der Geist des Kapitalismus) is a book written by Max Weber, a German sociologist, economist, and politician.
See Economics and The Protestant Ethic and the Spirit of Capitalism
The Reverend
The Reverend is an honorific style given before the names of certain Christian clergy and ministers.
See Economics and The Reverend
The Wealth of Nations
An Inquiry into the Nature and Causes of the Wealth of Nations, generally referred to by its shortened title The Wealth of Nations, is the ''magnum opus'' of the Scottish economist and moral philosopher Adam Smith (1723–1790).
See Economics and The Wealth of Nations
Theorem
In mathematics and formal logic, a theorem is a statement that has been proven, or can be proven.
Theory of Games and Economic Behavior
Theory of Games and Economic Behavior, published in 1944 by Princeton University Press, is a book by mathematician John von Neumann and economist Oskar Morgenstern which is considered the groundbreaking text that created the interdisciplinary research field of game theory.
See Economics and Theory of Games and Economic Behavior
Theory of the firm
The theory of the firm consists of a number of economic theories that explain and predict the nature of the firm, company, or corporation, including its existence, behaviour, structure, and relationship to the market.
See Economics and Theory of the firm
Thermodynamics
Thermodynamics is a branch of physics that deals with heat, work, and temperature, and their relation to energy, entropy, and the physical properties of matter and radiation.
See Economics and Thermodynamics
Thermoeconomics
Thermoeconomics, also referred to as biophysical economics, is a school of heterodox economics that applies the laws of statistical mechanics to economic theory.
See Economics and Thermoeconomics
Thomas Carlyle
Thomas Carlyle (4 December 17955 February 1881) was a Scottish essayist, historian, and philosopher from the Scottish Lowlands.
See Economics and Thomas Carlyle
Thomas J. Sargent
Thomas John Sargent (born July 19, 1943) is an American economist and the W.R. Berkley Professor of Economics and Business at New York University.
See Economics and Thomas J. Sargent
Thomas Robert Malthus
Thomas Robert Malthus (13/14 February 1766 – 29 December 1834) was an English economist, cleric, and scholar influential in the fields of political economy and demography.
See Economics and Thomas Robert Malthus
Tomás de Mercado
Tomás de Mercado (1525–1575) was a Spanish Dominican friar and both an economist and a theologian, best known for his book Summa de Tratos y Contratos ("Manual of Deals and Contracts") of 1571.
See Economics and Tomás de Mercado
Trade
Trade involves the transfer of goods and services from one person or entity to another, often in exchange for money.
Transaction cost
In economics, a transaction cost is a cost incurred when making an economic trade when participating in a market.
See Economics and Transaction cost
Treasury
A treasury is either.
Trust (law)
A trust is a legal relationship in which the owner of property (or any other transferable right) gives it to another person or entity, who must manage and use the property solely for the benefit of another designated person.
Uncertainty
Uncertainty or incertitude refers to epistemic situations involving imperfect or unknown information.
Unemployment
Unemployment, according to the OECD (Organisation for Economic Co-operation and Development), is people above a specified age (usually 15) not being in paid employment or self-employment but currently available for work during the reference period.
See Economics and Unemployment
Unit of account
In economics, unit of account is one of the functions of money.
See Economics and Unit of account
United Nations Environment Programme
The United Nations Environment Programme (UNEP) is responsible for coordinating responses to environmental issues within the United Nations system.
See Economics and United Nations Environment Programme
University
A university is an institution of higher (or tertiary) education and research which awards academic degrees in several academic disciplines.
University of Cambridge
The University of Cambridge is a public collegiate research university in Cambridge, England.
See Economics and University of Cambridge
Utility
In economics, utility is a measure of the satisfaction that a certain person has from a certain state of the world.
Vladimir Lenin
Vladimir Ilyich Ulyanov (1870 – 21 January 1924), better known as Vladimir Lenin, was a Russian revolutionary, politician and political theorist.
See Economics and Vladimir Lenin
Wage labour
Wage labour (also wage labor in American English), usually referred to as paid work, paid employment, or paid labour, refers to the socioeconomic relationship between a worker and an employer in which the worker sells their labour power under a formal or informal employment contract.
War economy
A war economy or wartime economy is the set of contingencies undertaken by a modern state to mobilize its economy for war production.
Wealth
Wealth is the abundance of valuable financial assets or physical possessions which can be converted into a form that can be used for transactions.
Web directory
A web directory or link directory is an online list or catalog of websites.
See Economics and Web directory
Welfare
Welfare, or commonly social welfare, is a type of government support intended to ensure that members of a society can meet basic human needs such as food and shelter.
Well-being
Well-being, or wellbeing, also known as wellness, prudential value, prosperity or quality of life, is what is intrinsically valuable relative to someone.
West Coast of the United States
The West Coast of the United Statesalso known as the Pacific Coast, and the Western Seaboardis the coastline along which the Western United States meets the North Pacific Ocean.
See Economics and West Coast of the United States
Work (human activity)
Work or labour (or labor in American English) is the intentional activity people perform to support the needs and wants of themselves, others, or a wider community.
See Economics and Work (human activity)
Workforce
In macroeconomics, the labor force is the sum of those either working (i.e., the employed) or looking for work (i.e., the unemployed): \text.
Workforce productivity
Workforce productivity is the amount of goods and services that a group of workers produce in a given amount of time.
See Economics and Workforce productivity
World Bank
The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects.
World energy supply and consumption
World energy supply and consumption refers to the global supply of energy resources and its consumption.
See Economics and World energy supply and consumption
World population
In world demographics, the world population is the total number of humans currently living.
See Economics and World population
World-systems theory
World-systems theory (also known as world-systems analysis or the world-systems perspective)Immanuel Wallerstein, (2004), "World-systems Analysis." In World System History, ed.
See Economics and World-systems theory
Xenophon
Xenophon of Athens (Ξενοφῶν||; probably 355 or 354 BC) was a Greek military leader, philosopher, and historian, born in Athens.
2007–2008 financial crisis
The 2007–2008 financial crisis, or the global financial crisis (GFC), was the most severe worldwide economic crisis since the Great Depression.
See Economics and 2007–2008 financial crisis
References
[1] https://en.wikipedia.org/wiki/Economics
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