Economics - Economics From Wikipedia the free encyclopedia...

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Economics From Wikipedia, the free encyclopedia Jump to: navigation , search This article is about the social science. For other uses, see Economics (disambiguation) . Economists study trade, production and consumption decisions, such as those that occur in a traditional marketplace . For a topical guide to this subject, see Outline of economics . Economics is the social science that is concerned with the production , distribution , and consumption of goods and services . The term economics comes from the Ancient Greek ο κονομία ( oikonomia, "management of a household, administration") from ο κος ( oikos, "house") + νόμος ( nomos, "custom" or "law"), hence "rules of the house(hold)". [1] Current economic models developed out of the broader field of political economy in the late 19th century, owing to a desire to use an empirical approach more akin to the physical sciences. [2] Economics aims to explain how economies work and how economic agents interact. Economic analysis is applied throughout society, in business , finance and government , but also in crime , [3] education , [4] the family , health , law , politics , religion , [5] social institutions , war, [6] and science . [7] The expanding domain of economics in the social sciences has been described as economic imperialism . [8] [9] Common distinctions are drawn between various dimensions of economics: between positive economics (describing "what is") and normative economics (advocating "what ought to be"); between economic theory and applied economics ; and between mainstream economics (more "orthodox" dealing with the "rationality-individualism-equilibrium nexus") and heterodox economics (more "radical" dealing with the "institutions-history-social structure nexus" [10] ). However the primary textbook distinction is between microeconomics , which examines the economic behavior of agents (including individuals and firms, consumers and producers), and macroeconomics , addressing issues of unemployment, inflation, economic growth, and monetary and fiscal policy for an entire economy. Economics
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[show] General categories Microeconomics · Macroeconomics History of economic thought Methodology · Heterodox approaches Techniques Mathematical · Econometrics Experimental · National accounting Fields and subfields Behavioral · Cultural · Evolutionary Growth · Development · History International · Economic systems Monetary and Financial economics Public and Welfare economics Health · Education · Welfare Population · Labour · Managerial Business · Information · Game theory Industrial organization · Law Agricultural · Natural resource Environmental · Ecological Urban · Rural · Regional · Geography Lists Journals · Publications Categories · Topics · Economists Economic ideologies [show] The economy: concept and history Business and Economics Portal This box: view talk edit Contents [ hide ] 1 History of economic thought o 1.1 Classical political economy
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Economics - Economics From Wikipedia the free encyclopedia...

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