What are the main branches of economics?
Consumer economics
Consumer economics is a branch of economics. It is a broad field, principally concerned with microeconomic analysis behavior in units of consumers, families, or individuals (in contrast to traditional economics, which primarily government or business units). It sometimes also encompasses family financial planning and policy analysis. The term largely describes what was more commonly called "home economics" in the past.
Social science
Economics has two broad branches: microeconomics, where the unit of analysis is the individual agent, such as a household or firm, and macroeconomics, where the unit of analysis is an economy as a whole. Another division of the subject distinguishes positive economics, which seeks to predict and explain economic phenomena, from normative economics, which orders choices and actions by some criterion; such orderings necessarily involve subjective value judgments. Since the early part of the 20th century, economics has focused largely on measurable quantities, employing both theoretical models and empirical analysis. Quantitative models, however, can be traced as far back as the physiocratic school. Economic reasoning has been increasingly applied in recent decades to other social situations such as politics, law, psychology, history, religion, marriage and family life, and other social interactions.
This paradigm crucially assumes (1) that resources are scarce because they are not sufficient to satisfy all wants, and (2) that "economic value" is willingness to pay as revealed for instance by market (arms' length) transactions. Rival heterodox schools of thought, such as institutional economics, green economics, Marxist economics, and economic sociology, make other grounding assumptions. For example, Marxist economics assumes that economics primarily deals with the investigation of exchange value, of which human labour is the source.
Economic base analysis
Economic base analysis was developed by Robert Murray Haig in his work on the Regional Plan of New York in 1928. Briefly, it posits that activities in an area divide into two categories: basic and nonbasic. Basic industries are those exporting from the region and bringing wealth from outside, while nonbasic (or service) industries support basic industries. Because of , it is not practical to study industry output and trade flows to and from a region. As an alternative, the concepts of basic and nonbasic are operationalized using employment data.
Business economics
Business economics is an integral part of traditional economics and is an extension of economic concepts to the real business situations. It is an applied science in the sense of a tool of managerial decision-making and forward planning by management. In other words, business economics is concerned with the application of economic theory to business management. Business economics is based on microeconomics in two categories: positive and normative.
Applied economics
Applied economics is the application of economic theory and econometrics in specific settings. As one of the two sets of fields of economics (the other set being the "core"), it is typically characterized by the application of the "core", i.e. economic theory and econometrics, to address practical issues in a range of fields including demographic economics, labour economics, business economics, industrial organization, agricultural economics, development economics, education economics, engineering economics, health economics, monetary economics, public economics, and economic history. The process often involves a reduction in the level of abstraction of this core theory. There are a variety of approaches including not only empirical estimation using econometrics, input-output analysis or simulations but also case studies, historical analogy and so-called common sense or the "vernacular". This range of approaches is indicative of what Roger Backhouse and Jeff Biddle argue is the ambiguous nature of the concept of applied economics. It is a concept with multiple meanings. Among broad methodological distinctions, one source places it in neither positive nor normative economics but the "art of economics", glossed as "what most economists do".
Economic geography
Thematically, economic geography can be divided into these subdisciplines:
It is traditionally considered the branch of economic geography that investigates those parts of the Earth's surface that are transformed by humans through primary sector activities. It thus focuses on structures of agricultural landscapes and asks for the processes that lead to these spatial patterns. While most research in this area concentrates rather on production than on consumption,[1] a distinction can be made between nomothetic (e.g. distribution of spatial agricultural patterns and processes) and idiographic research (e.g. human-environment interaction and the shaping of agricultural landscapes). The latter approach of agricultural geography is often applied within regional geography.
Economics film
Economics film is a film genre concerned with economics, typically about business, investing, and finance. The genre often deals with issues concerned with economics, typically about business, investing, and money. Economic films often touch upon themes that occur in the everyday world of business or in the economy in a general sense. Economics films have often been utilized to focus on economic, financial, political, social and philosophical issues.
Economist
A professional working inside of one of many fields of economics or having an academic degree in this subject is often considered to be an economist. In addition to government and academia, economists are also employed in banking, finance, accountancy, commerce, marketing, business administration, lobbying and non- or not-for profit organizations.
Economics (Aristotle)
Book I is broken down into six chapters that begin to define economics. The text starts by describing that economics and politics differ in two major ways, one, in the subjects with which they deal and two, the number of rulers involved. Like an owner of a house, there is only one ruling in an economy, while politics involves many rulers. The practitioners of both sciences are trying to make the best use of what they have in order to thrive.
Engineering
Beyond these "Big 4", a number of other branches are recognized, though many can be thought of as sub-disciplines of the four major branches, or as cross-curricular disciplines among multiple. Historically, naval engineering and mining engineering were major branches. Other engineering fields are manufacturing engineering, acoustical engineering, corrosion engineering, instrumentation and control, aerospace, automotive, computer, electronic, information engineering, petroleum, environmental, systems, audio, software, architectural, agricultural, biosystems, biomedical, geological, textile, industrial, materials, and nuclear engineering. These and other branches of engineering are represented in the 36 licensed member institutions of the UK Engineering Council.
Economics
Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyzes basic elements in the economy, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the entire economy (meaning aggregated production, consumption, savings, and investment) and issues affecting it, including unemployment of resources (labour, capital, and land), inflation, economic growth, and the public policies that address these issues (monetary, fiscal, and other policies). See glossary of economics.
University of St Andrews
Economics
Regional economics
Regional economics has shared many traditions with regional science, whose earlier development was propelled by Walter Isard and some economists' dissatisfaction with the existing regional economic analysis. Despite such a rather critical view of regional economics, however, it is hard to be denied that the "economic" approach to regional problems was and has been the most significant one throughout the development of regional science. As a sub-discipline of economics, it has also developed its independent traditions and approaches that conform with the subject matter or perspective of economics.
Science
Modern science is typically divided into three major branches that consist of the natural sciences (e.g., biology, chemistry, and physics), which study nature in the broadest sense; the social sciences (e.g., economics, psychology, and sociology), which study individuals and societies; and the formal sciences (e.g., logic, mathematics, and theoretical computer science), which study abstract concepts. There is disagreement, however, on whether the formal sciences actually constitute a science as they do not rely on empirical evidence. Disciplines that use existing scientific knowledge for practical purposes, such as engineering and medicine, are described as applied sciences.
Economics (disambiguation)
Economics may also refer to:
Economics
Citing Robbins: "Economics is the science which studies human behavior as a relationship between ends and scarce means which have alternative uses". After discussing it for decades, Robbins' definition became widely accepted by mainstream economists, and it has opened way into current textbooks. Although far from unanimous, most mainstream economists would accept some version of Robbins' definition, even though many have raised serious objections to the scope and method of economics, emanating from that definition. Due to the lack of strong consensus, and that production, distribution and consumption of goods and services is the prime area of study of economics, the old definition still stands in many quarters.
Financial economics
Financial econometrics is the branch of financial economics that uses econometric techniques to parameterise these relationships. Mathematical finance is related in that it will derive and extend the mathematical or numerical models suggested by financial economics. Note though that the emphasis there is mathematical consistency, as opposed to compatibility with economic theory. Financial economics has a primarily microeconomic focus, whereas monetary economics is primarily macroeconomic in nature.
List of engineering branches
Engineering is the discipline and profession that applies scientific theories, mathematical methods, and empirical evidence to design, create, and analyze technological solutions cognizant of safety, human factors, physical laws, regulations, practicality, and cost. In the contemporary era, engineering is generally considered to consist of the major primary branches of chemical engineering, civil engineering, electrical engineering, and mechanical engineering. There are numerous other engineering subdisciplines and interdisciplinary subjects that may or may not be part of these major engineering branches.
Agricultural economics
Agricultural economics is an applied field of economics concerned with the application of economic theory in optimizing the production and distribution of food and fiber. Agricultural economics began as a branch of economics that specifically dealt with land usage, it focused on maximizing the crop yield while maintaining a good soil ecosystem. Throughout the 20th century the discipline expanded and the current scope of the discipline is much broader. Agricultural economics today includes a variety of applied areas, having considerable overlap with conventional economics. Agricultural economists have made substantial contributions to research in economics, econometrics, development economics, and environmental economics. Agricultural economics influences food policy, agricultural policy, and environmental policy.
Development economics
Development economics is a branch of economics which deals with economic aspects of the development process in low income countries. Its focus is not only on methods of promoting economic development, economic growth and structural change but also on improving the potential for the mass of the population, for example, through health, education and workplace conditions, whether through public or private channels.
Outline of agriculture
Agricultural economics – originally applied the principles of economics to the production of crops and livestock — a discipline known as agronomics. Agronomics was a branch of economics that specifically dealt with land usage. It focused on maximizing the crop yield while maintaining a good soil ecosystem. Throughout the 20th century the discipline expanded and the current scope of the discipline is much broader. Agricultural economics today includes a variety of applied areas, having considerable overlap with conventional economics.
Non-equilibrium economics
Related fields of economics include Complexity economics and Evolutionary economics.
National Research University – Higher School of Economics
Each faculty usually consists of several departments that bring together scholars in a specific field, such as the departments of banking and macroeconomics at the faculty of economics, the departments of economic sociology and social theory at the faculty of social sciences etc. At HSE joint departments with large companies offering specific applied courses necessary to work in these particular companies. Joint departments (or 'departments of vocational training') provide students with opportunity to apply for an internship and to start their career in a prominent company to obtain practical knowledge in a particular sphere.
Peace economics
Peace economics is a specialized branch of economics. Peace economics focuses on the design of the sociosphere's political, economic, and cultural institutions and their interacting policies and actions with the goal of preventing, mitigating, or resolving violent conflict within and between societies. This violent conflict could be of any type and could involve either latent or actual violence. Presuming knowledge of the cost of violence, it focuses on the benefits of (re)constructing societies with a view toward achieving irreversible, stable peace. Together with approaches drawn from disciplines such as anthropology, sociology, psychology and cognitive science, geography and regional science, and political science and international relations, peace economics forms part of peace science, an evolving part of peace and conflict studies.
Economics
Notwithstanding, economics legitimately has a role in informing government policy. It is, indeed, in some ways an outgrowth of the older field of political economy. Some academic economic journals have increased their efforts to gauge the consensus of economists regarding certain policy issues in hopes of effecting a more informed political environment. Often there exists a low approval rate from professional economists regarding many public policies. Policy issues featured in one survey of American Economic Association economists include trade restrictions, social insurance for those put out of work by international competition, genetically modified foods, curbside recycling, health insurance (several questions), medical malpractice, barriers to entering the medical profession, organ donations, unhealthy foods, mortgage deductions, taxing internet sales, Wal-Mart, casinos, ethanol subsidies, and inflation targeting.
Economics
Contemporary economics uses mathematics. Economists draw on the tools of calculus, linear algebra, statistics, game theory, and computer science. Professional economists are expected to be familiar with these tools, while a minority specialize in econometrics and mathematical methods.
Agricultural economics
In Asia, agricultural economics was offered first by the University of the Philippines Los Baños Department of Agricultural Economics in 1919. Today, the field of agricultural economics has transformed into a more integrative discipline which covers farm management and production economics, rural finance and institutions, agricultural marketing and prices, agricultural policy and development, food and nutrition economics, and environmental and natural resource economics.
The Death of Economics
The book is split into two parts. The first part contains Ormerod's assessment of the present state of economics; the second part represents a series of suggestions as to how economics can be developed, particularly in relation to unemployment.
Annual Review of Economics
Annual Review of Economics is an annual peer-reviewed academic journal published by Annual Reviews. The co-editors are Philippe Aghion (Collège de France) and Hélène Rey (London Business School). The journal covers macroeconomics, microeconomics, behavioral economics, public finance, education, economics related to the health field, the interrelationship of economic growth and technological change, economic development, social institutions and culture related to economics, game theory, political economy, as well as other topics.
Monetary economics
Monetary economics is the branch of economics that studies the different competing 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. It considers how money, for example fiat currency, can gain acceptance purely because of its convenience as a public good. It examines the effects of monetary systems, including regulation of money and associated financial institutions and international aspects.
Economics
Macroeconomics examines the economy as a whole to explain broad aggregates and their interactions "top down", that is, using a simplified form of general-equilibrium theory. Such aggregates include national income and output, the unemployment rate, and price inflation and subaggregates like total consumption and investment spending and their components. It also studies effects of monetary policy and fiscal policy.
Mainstream economics
Additionally, some economic fields include elements of both mainstream economics and heterodox economics: for example, the Austrian economics, institutional economics, neuroeconomics and non-linear complexity theory.
They may use neoclassical economics as a point of departure. At least one institutionalist has argued that "neoclassical economics no longer dominates a mainstream economics."
Mainstream economics
In the United States, economists are not generally separated into schools, but two major contemporary economic schools of thought have been the "saltwater and freshwater schools." In the early 1970s, so-called "fresh-water economists" challenged the prevailing consensus in macroeconomics research. Key elements of their approach were that macroeconomics had to be dynamic, quantitative, and based on how individuals and institutions make decisions under uncertainty.
Home economics
The Association for Career and Technical Education (ACTE) is the largest American national education association dedicated to the advancement of education that prepared youth and adults for successful careers. ACTE's core purpose is to provide leadership in developing an educated, prepared, and competitive workforce. The ACTE division of Family and Consumer Sciences Education includes three sections (1) NATFACS - National Association Teachers of Family and Consumer Sciences (2) NATEFACS - National Association Teacher Educators of Family andy Consumer Sciences, andy (3) NASAFACS - National Association State Administrators of Family and Consumer Sciences.
Information economics
Information economics or the economics of information
is a branch of microeconomic theory that studies how information and information systems affect an economy and economic decisions. Information has special characteristics: It is easy to create but hard to trust. It is easy to spread but hard to control. It influences many decisions. These special characteristics (as compared with other types of goods) complicate many standard economic theories.
Philosophy and economics
It is useful to divide philosophy of economics in this way into three subject matters which can be regarded respectively as branches of action theory, ethics (or normative social and political philosophy), and philosophy of science. Economic theories of rationality, welfare, and social choice defend substantive philosophical theses often informed by relevant philosophical literature and of evident interest to those interested in action theory, philosophical psychology, and social and political philosophy.
Schools of economic thought
Classical economics, also called classical political economy, was the original form of mainstream economics of the 18th and 19th centuries. Classical economics focuses on the tendency of markets to move to equilibrium and on objective theories of value. Neo-classical economics differs from classical economics primarily in being utilitarian in its value theory and using marginal theory as the basis of its models and equations. Marxian economics also descends from classical theory. Anders Chydenius (1729–1803) was the leading classical liberal of Nordic history. Chydenius, who was a Finnish priest and member of parliament, published a book called "The National Gain" in 1765, in which he proposes ideas of freedom of trade and industry and explores the relationship between economy and society and lays out the principles of liberalism, all of this eleven years before Adam Smith published a similar and more comprehensive book, "The Wealth of Nations". According to Chydenius, democracy, equality and a respect for human rights were the only way towards progress and happiness for the whole of society.
National Research University – Higher School of Economics
Specializing in economics, social science, mathematics, computer science, media communications, and design, HSE has more than twenty departments, with its main campus being located in Moscow and subsidiary campuses being located in St. Petersburg, Nizhniy Novgorod, and Perm.
Regional economics
Regional economics is a sub-discipline of economics and is often regarded as one of the fields of the social sciences. It addresses the economic aspect of the regional problems that are spatially analyzable so that theoretical or policy implications can be derived with respect to regions whose geographical scope ranges from local to global areas.
Economics
Neoclassical economics is occasionally referred as "orthodox economics" whether by its critics or sympathizers. Modern mainstream economics builds on neoclassical economics but with many refinements that either supplement or generalize earlier analysis, such as econometrics, game theory, analysis of market failure and imperfect competition, and the neoclassical model of economic growth for analysing long-run variables affecting national income.
Index of branches of science
Modern science is typically divided into three major branches that consist of the natural sciences (e.g. biology, chemistry, physics), which study nature in the broadest sense; the social sciences (e.g. psychology, sociology, economics) which study people and societies; and the formal sciences (e.g. mathematics, logic, theoretical computer science), which study abstract concepts. There is disagreement, however, on the formal sciences being a science as they do not rely on empirical evidence. Disciplines that use science, such as engineering and medicine, are described as applied sciences.
Economics
Economics "per se", as a social science, is independent of the political acts of any government or other decision-making organization; however, many policymakers or individuals holding highly ranked positions that can influence other people's lives are known for arbitrarily using a plethora of economic concepts and rhetoric as vehicles to legitimize agendas and value systems, and do not limit their remarks to matters relevant to their responsibilities. The close relation of economic theory and practice with politics is a focus of contention that may shade or distort the most unpretentious original tenets of economics, and is often confused with specific social agendas and value systems.
Definitions of economics
The title page gave as its subject matter "population, agriculture, trade, industry, money, coin, interest, circulation, banks, exchange, public credit and taxes".
Economy
All professions, occupations, economic agents or economic activities, contribute to the economy. Consumption, saving, and investment are variable components in the economy that determine macroeconomic equilibrium. There are three main sectors of economic activity: primary, secondary, and tertiary.
Sports economics
Sports economics is a discipline of economics focused on its relationship to sports. It covers both the ways in which economists can study the distinctive institutions of sports, and the ways in which sports can allow economists to research many topics, including discrimination and antitrust law. The theoretical foundations of the discipline are heavily based on microeconomics. As of 2006, about 100 to 120 college professors taught sports economics courses.
Economic sector
One classical breakdown of economic activity distinguishes three sectors:In the 20th century, economists began to suggest that traditional tertiary services could be further distinguished from "quaternary" and quinary service sectors. Economic activity in the hypothetical quaternary sector comprises information- and knowledge-based services, while quinary services include industry related to human services and hospitality.
Bachelor of Commerce
Eighteenth-century economists had divided the English economy into three sectors: agriculture, manufacturing, and commerce. Commerce included the transportation, marketing and financing of goods. The Birmingham program in Commerce included economic geography, economic history, general economics, modern languages, and accountancy.
Agricultural economics
Graduates from agricultural and applied economics departments find jobs in many sectors of the economy: agricultural management, agribusiness, commodities markets, education, the financial sector, government, natural resource and environmental management, real estate, and public relations. Careers in agricultural economics require at least a bachelor's degree, and research careers in the field require graduate-level training. A 2011 study by the Georgetown Center on Education and the Workforce rated agricultural economics tied for 8th out of 171 fields in terms of employability.
Feminist theory
Feminist economics broadly refers to a developing branch of economics that applies feminist insights and critiques to economics. Research under this heading is often interdisciplinary, critical, or heterodox. It encompasses debates about the relationship between feminism and economics on many levels: from applying mainstream economic methods to under-researched "women's" areas, to questioning how mainstream economics values the reproductive sector, to deeply philosophical critiques of economic epistemology and methodology.
Karl Heinrich Rau
His principal work is the "Lehrbuch der politischen Ökonomie" (1826–37), an encyclopaedia of the economic knowledge of his time, written with a special view to the guidance of practical men. The three volumes are respectively occupied with (1) political economy, properly so called, or the theory of wealth, (2) administrative science ("Volkswirthschaftspolitik") and (3) finance. The two last he recognizes as admitting of variations in accordance with the special circumstances of different countries, while the first is more akin to the exact sciences, and is in many respects capable of being treated, or at least illustrated, mathematically. On economics, he adopts the general position of Adam Smith and Say, but retains a tendency to advocate the extension of the economic functions of the state.
Humanities
Philosophy used to be a very comprehensive term, including what have subsequently become separate disciplines, such as physics. (As Immanuel Kant noted, "Ancient Greek philosophy was divided into three sciences: physics, ethics, and logic.") Today, the main fields of philosophy are logic, ethics, metaphysics, and epistemology. Still, it continues to overlap with other disciplines. The field of semantics, for example, brings philosophy into contact with linguistics.
Mainstream economics
Prior to the of development and prevalence of classical economics, the dominant school in Europe was mercantilism, which was rather a loose set of related ideas than an institutionalized school. With the development of modern economics, conventionally given as the late 18th-century "The Wealth of Nations" by Adam Smith, British economics developed and became dominated by what is now called the classical school. From "The Wealth of Nations" until the Great Depression, the dominant school within the English-speaking world was classical economics, and its successor, neoclassical economics. In continental Europe, the earlier work of the physiocrats in France formed a distinct tradition, as did the later work of the historical school of economics in Germany, and throughout the 19th century there were debates in British economics, notably the opposition underconsumptionist school.
Home economics
The content of home economics comes from the synthesis of multiple disciplines. This interdisciplinary knowledge is essential because the phenomena and challenges of everyday life are not typically one-dimensional. The content of home economics courses vary, but may include: food, nutrition, and health; personal finance; family resource management and planning; textiles and clothing; shelter and housing; consumerism and consumer science; household management; design and technology; food science and hospitality; human development and family studies; communication and extension education and community services, among others. The capacity to draw from such disciplinary diversity is a strength of the profession, allowing for the development of specific interpretations of the field, as relevant to the context.
BYU College of Family, Home and Social Sciences
Economics courses began to be taught in 1895. The Economics Department was established in 1921. Policy issues the department teaches include natural resource economics, economic development and growth, international trade and finance, economic history, the organization of industries, the development and efficiency of law, business cycles, labor markets, and public and private finance. The department uses a calculus-based approach in its core courses and houses approximately 22 professors whose research interests vary across the field. The department offers a Bachelor of Arts, a Bachelor of Science and a minor in economics.
Market (economics)
Microeconomics (from Greek prefix "mikro"- meaning "small" and economics) is a branch of economics that studies the behavior of individuals and small impacting organizations in making decisions on the allocation of limited resources (see scarcity). On the other hand, macroeconomics (from the Greek prefix "makro"- meaning "large" and economics) is a branch of economics dealing with the performance, structure, behavior and decision-making of an economy as a whole, rather than individual markets.
Mainstream economics
Mainstream economics has also been defined "methodologically" as work which mainstream economists are willing to engage, which requires conforming to the mainstream language of mathematical models, featuring calculus, optimization, and comparative statics. Under this definition, areas of thought which are typically thought of as heterodox because they do not work under the typical neoclassical "assumptions," such as econophysics, behavioral economics, and evolutionary economics, can be considered mainstream when they are engaged in the mainstream, using mainstream methods. Geoffrey Hodgson has considered the possibility that evolutionary economics and institutional economics may eventually become a new mainstream.
Economics
The discipline was renamed in the late 19th century, primarily due to Alfred Marshall, from "political economy" to "economics" as a shorter term for "economic science". At that time, it became more open to rigorous thinking and made increased use of mathematics, which helped support efforts to have it accepted as a science and as a separate discipline outside of political science and other social sciences.
Mannheim School of Law and Economics
The Department of Economics is among the oldest and most prestigious at the University of Mannheim. More than twenty full-time senior faculty members and 21 assistant professors and numerous lecturers are engaged in a variety of research projects at the frontiers of their fields, ranging from micro- and macroeconomics, econometrics, labour economics, industrial organization, financial economics, auctions and game theory, policy analysis and evaluation to economic history and international trade. The department has special expertise in microeconomic specializations and econometrics, both in theory and application. Its research programmes are aided by large institutional grants from the German National Science Foundation (DFG); additional funds are obtained from other public and private institutions. The department owns a library collection of more than 350,000 volumes in German as well as other languages (mostly English) and subscribes to 400 journals.
Economics
Robbins describes the definition as not "classificatory" in "pick[ing] out certain "kinds" of behaviour" but rather "analytical" in "focus[ing] attention on a particular "aspect" of behaviour, the form imposed by the influence of scarcity." He affirmed that previous economists have usually centred their studies on the analysis of wealth: how wealth is created (production), distributed, and consumed; and how wealth can grow. But he said that economics can be used to study other things, such as war, that are outside its usual focus. This is because war has as the goal winning it (as a sought after end), generates both cost and benefits; and, resources (human life and other costs) are used to attain the goal. If the war is not winnable or if the expected costs outweigh the benefits, the deciding actors (assuming they are rational) may never go to war (a decision) but rather explore other alternatives. We cannot define economics as the science that studies wealth, war, crime, education, and any other field economic analysis can be applied to; but, as the science that studies a particular common aspect of each of those subjects (they all use scarce resources to attain a sought after end).
University of Pennsylvania Economics Department
The Economics Department of the University of Pennsylvania (commonly referred to as Penn Economics) is part of the school's Arts and Sciences division. Its undergraduate program is one of the largest in the School of Arts and Sciences. It also offers graduate courses leading to a Ph.D. in economics. Students enrolled in Wharton as undergraduates share some of the classes with students from the Economics Department, but the two degrees have otherwise separate curriculum. Penn Economics is generally associated with the saltwater school of economic thought (along with University of California, Berkeley, Brown University, Harvard University, Princeton University, Columbia University, MIT and Yale University).
Shiga University
The Faculty of Economics consists of six departments. All disciplines of Economics aim to "develop specialists in economics with a global perspective" and a "problem solving ability capable of responding to the needs of a global information society".
Bachelor of Economics
The Bachelor of Economics (BEc or BEcon) is a four-year academic degree in the social sciences encompassing both qualitative and quantitative courses. Typical mandatory courses for the degree include microeconomics, macroeconomics, econometrics, economic statistics, history of economic thought and political economy.
Toulouse School of Economics
Its doctoral programme provides a rigorous and in-depth training in the major fields of economics to prepare students for quantitative and qualitative economic analysis. TSE offers core courses in the main disciplines (microeconomics, macroeconomics and econometrics) as well as a broad choice of applications in those disciplines. In addition, TSE offers a two-year Masters programme and a senior year bachelor programme. TSE graduates become professional economists, whether in academia, government, private firms, or international organisations.
Economics of networks
Economics of networks is an increasing new field on the border of economics and network sciences. It is concerned with understanding of economic phenomena by using network concepts and the tools of network science. Some main authors in this field are Sanjeev Goyal, Matthew O. Jackson and Rachel Kranton.
Economic sociology
The focus on mathematical analysis and utility maximisation during the 20th century has led some to see economics as a discipline moving away from its roots in the social sciences. Many critiques of economics or economic policy begin from the accusation that abstract modelling is missing some key social phenomenon that needs to be addressed.
Martinus Cobbenhagen
Cobbenhagen's treatment of economic issues was rooted in the philosophical realm of neo-Thomism. According to Cobbenhagen, this approach was normative, and explicitly did not undermine the hardcore of theoretical economics. 
Accordingly, economics is a science which possesses the "economy" as its own formal object, that is the study of human behavior aimed at the welfare purpose, which is different from the formal object of "ethics" as a normative science. In his view, economics could be fully understood in its essence only when studied adopting a philosophical stand, combined with its quantitative and qualitative study.
James Madison University College of Business
There are three possible economics degrees at JMU: a B.B.A., B.A., and B.S. Also, students may select general economics or select from five concentrations: Political Economy, Financial Economics, International Economics, Environmental and Natural Resources Economics and Socioeconomics.
Finance
The cash budget is basically a detailed plan that shows all expected sources and uses of cash when it comes to spending it appropriately. The cash budget has the following six main sections:Financial economics is the branch of economics studying the interrelation of financial variables, such as prices, interest rates and shares, as opposed to goods and services. Financial economics concentrates on influences of real economic variables on financial ones, in contrast to pure finance. It centres on managing risk in the context of the financial markets, and the resultant economic and financial models. It essentially explores how rational investors would apply risk and return to the problem of an investment policy. Here, the twin assumptions of rationality and market efficiency lead to modern portfolio theory (the CAPM), and to the Black–Scholes theory for option valuation; it further studies phenomena and models where these assumptions do not hold, or are extended. "Financial economics", at least formally, also considers investment under "certainty" (Fisher separation theorem, "theory of investment value", Modigliani–Miller theorem) and hence also contributes to corporate finance theory. Financial econometrics is the branch of financial economics that uses econometric techniques to parameterize the relationships suggested.
Happiness economics
The economics of happiness or happiness economics is the quantitative and theoretical study of happiness, positive and negative affect, well-being, quality of life, life satisfaction and related concepts, typically combining economics with other fields such as psychology, health and sociology. It typically treats such happiness-related measures, rather than wealth, income or profit, as something to be maximized. The field has grown substantially since the late 20th century, for example by the development of methods, surveys and indices to measure happiness and related concepts. Its findings have been described as a challenge to the economics profession.
American Economic Journal
This journal publishes papers covering in applied economics, primarily on empirical microeconomic issues. Fields for this journal include labor economics, development microeconomics, health economics, education, demography, empirical corporate finance, empirical international trade, empirical behavioral economics, and empirical political economy. This journal has established an online discussion forum at which published articles can be commented on. Esther Duflo was chosen as the first editor.
Mathematical economics
Economics is no longer a fit conversation piece for ladies and gentlemen. It has become a technical subject. Like any technical subject it attracts some people who are more interested in the technique than the subject. That is too bad, but it may be inevitable. In any case, do not kid yourself: the technical core of economics is indispensable infrastructure for the political economy. That is why, if you consult [a reference in contemporary economics] looking for enlightenment about the world today, you will be led to technical economics, or history, or nothing at all.
Prominent mathematical economists include, but are not limited to, the following (by century of birth).
Economics
Public finance is the field of economics that deals with budgeting the revenues and expenditures of a public sector entity, usually government. The subject addresses such matters as tax incidence (who really pays a particular tax), cost-benefit analysis of government programmes, effects on economic efficiency and income distribution of different kinds of spending and taxes, and fiscal politics. The latter, an aspect of public choice theory, models public-sector behaviour analogously to microeconomics, involving interactions of self-interested voters, politicians, and bureaucrats.
Finance
Although they are closely related, the disciplines of economics and finance are distinct. The “economy” is a social institution that organizes a society's production, distribution, and consumption of goods and services, all of which must be financed.
Macroeconomics
Macroeconomics (from the Greek prefix "makro-" meaning "large" + "economics") is a branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole. This includes regional, national, and global economies.
Master of Economics
The Master of Economics is a postgraduate master's degree in economics (M.Econ., M.Ec.; also MS in Economics, MA in Economics, MCom in Economics) comprising training in economic theory, econometrics and / or applied economics.
Peace economics
Peace economics is distinct from both war economics and military economics, even though there may be substantial overlap between these disciplines. Peace economics is also distinct from conflict economics, and it is distinct from security economics. A key difference between peace economics and these related fields is that peace economics emphasizes a study of the presence of peace, as distinct from studying the absence or presence of conflict, violence, war, or insecurity.
Business economics
The term 'business economics' is used in a variety of ways. Sometimes it is used as synonymously with industrial economics/industrial organisation, managerial economics, and economics for business. Still, there may be substantial differences in the usage of 'economics for business' and 'managerial economics' with the latter used more narrowly.
One view of the distinctions between these would be that business economics is wider in its scope than industrial economics in that it would be concerned not only with "industry" but also businesses in the service sector. Economics for business looks at the major principles of economics but focuses on applying these economic principles to the real world of business. Managerial economics is the application of economic methods in the managerial decision-making process.
Schools of economic thought
Mainstream economics is a term used to distinguish economics in general from heterodox approaches and schools within economics. It begins with the premise that resources are scarce and that it is necessary to choose between competing alternatives. That is, economics deals with tradeoffs. With scarcity, choosing one alternative implies forgoing another alternative—the opportunity cost. The opportunity cost expresses an implicit relationship between competing alternatives. Such costs, considered as prices in a market economy, are used for analysis of economic efficiency or for predicting responses to disturbances in a market. In a planned economy comparable shadow price relations must be satisfied for the efficient use of resources, as first demonstrated by the Italian economist Enrico Barone. Economists represent incentives and costs as playing a pervasive role in shaping decision making. An immediate example of this is the consumer theory of individual demand, which isolates how prices (as costs) and income affect quantity demanded. Modern mainstream economics builds primarily on neoclassical economics, which began to develop in the late 19th century. Mainstream economics also acknowledges the existence of market failure and insights from Keynesian economics. It uses models of economic growth for analyzing long-run variables affecting national income. It employs game theory for modeling market or non-market behavior. Some important insights on collective behavior (for example, emergence of organizations) have been incorporated through the new institutional economics. A definition that captures much of modern economics is that of Lionel Robbins in a 1932 essay: "the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses." Scarcity means that available resources are insufficient to satisfy all wants and needs. Absent scarcity and alternative uses of available resources, there is no economic problem. The subject thus defined involves the study of choice, as affected by incentives and resources. Economics generally is the study of how people allocate scarce resources among alternative uses.
International Economic Review
The International Economic Review, (IER) is a quarterly peer-reviewed scientific journal in economics published by the Economics Department of the University of Pennsylvania and Osaka University. The journal's focus is wide and includes many areas of economics, including econometrics, economic theory, macroeconomics, and applied economics.
Social science
Economics is a social science that seeks to analyze and describe the production, distribution, and consumption of wealth. The word "economics" is from the Ancient Greek "oikos", "family, household, estate", and νόμος "nomos", "custom, law", and hence means "household management" or "management of the state". An economist is a person using economic concepts and data in the course of employment, or someone who has earned a degree in the subject. The classic brief definition of economics, set out by Lionel Robbins in 1932, is "the science which studies human behavior as a relation between scarce means having alternative uses". Without scarcity and alternative uses, there is no economic problem. Briefer yet is "the study of how people seek to satisfy needs and wants" and "the study of the financial aspects of human behavior".
Mainstream economics
Mainstream economics may be used to describe the body of knowledge, theories, and models of economics, as taught across universities, that are generally accepted by economists as a basis for discussion. It can be contrasted to heterodox economics, which encompasses various schools or approaches that are accepted by their proponents. The economics profession has generally been associated with neoclassical economics and with the neoclassical synthesis, and over time the profession has included Keynesian approach to macroeconomics.
Nicholas Economides
Professor Economides has published more than 100 articles in top academic journals in the areas of networks, telecommunications, oligopoly, antitrust, product positioning and on the liquidity and the organization of financial markets and exchanges. He holds a PhD and MA in Economics from the University of California at Berkeley, as well as a BSc (First Class Honors) in Mathematical Economics from the London School of Economics. Previously, he taught at Columbia University (1981-1988) and at Stanford University (1988-1990). He is editor of the "Information Economics and Policy, Netnomics, Quarterly Journal of Electronic Commerce, the Journal of Financial Transformation, Journal of Network Industries", on the Advisory Board of the "Social Science Research Network", editor of "Economics of Networks Abstracts" by SSRN and former editor of the "International Journal of Industrial Organization". His website on the Economics of Networks has been ranked as one of the top four economics sites worldwide by "The Economist" magazine.
Islamic economics
Works of fiqh are typically divided into different "books" such as a Book of "Iman", of "Salah", "Zakat", "Taqwa", "Hajj," but not `economics` or `economy`. Some brief works might contain almost nothing related to matters of property, sales, finance Others do not gather questions on economic issues in one heading, the case in "Tawzih al-masa'il", a work of fatawa by Ayatollah Ruhollah Khomeini, who although a pioneer of political Islam approached the subject of economy"as the classical ulamas do ... the chapter on selling and buying ("Kharid o forush") comes after the one on pilgrimage and present economic questions as individual acts open to moral analysis: `To lend [without interest, on a note from the lender] is among the good works that are particularly recommended in the verses of the Quran and in the Traditions.`"
Other works divided the subjects of fiqh into four "quarters": typically worship (al-`Ibadat), marriage and family law (al-Munakahat), criminal law (Jinayat), commercial transaction law ("Mu'amalat"). At least one author (M. Kahf) writes that "Mu'amalat" is "closely related" to Islamic Economics. (However even with the "quarters" division of fiqh topics "mu'amalat" would not include inheritance or wedding dower ("mahr") (which at least often comes under marriage and family law), or calculation of alms ("zakat," which comes under "al-`Ibadat")).
University of Belgrade
Initially established in 1937, the Faculty of Economics was the first centre of higher education dedicated to the study of economics in the Kingdom of Yugoslavia. Its curriculum includes courses in economic analysis and policy; marketing; accounting, auditing and financial management; trade and commerce; finance, banking and insurance; tourism and hotel industry; statistics and informatics; management and international economics and foreign trade.
Economics
Economics () is the social science that studies the production, distribution, and consumption of goods and services.
Economy
Today the range of fields of study examining the economy revolves around the social science of economics, but may include sociology (economic sociology), history (economic history), anthropology (economic anthropology), and geography (economic geography). Practical fields directly related to the human activities involving production, distribution, exchange, and consumption of goods and services as a whole are engineering, management, business administration, applied science, and finance.
Paris School of Economics
Its contributory economics faculties, including the Ecole Normale Superieure, École des Hautes Études en Sciences Sociales, the Ecole Polytechnique and ENSAE, are ranked between the top 13 among 53 departments worldwide by publication output of the top five scholars. According to the global economics departments ranking released in December 2016 by RePEc, Paris School of Economics was ranked at 6 worldwide, 1st in Europe.
Public economics
The Journal of Economic Literature (JEL) classification codes are one way categorizing the range of economics subjects. There, Public Economics, one of 19 primary classifications, has 8 categories. They are listed below with JEL-code links to corresponding available article-preview links of The New Palgrave Dictionary of Economics Online (2008) and with similar footnote links for each respective "sub"category if available:
Guaymallén Department
The three main sectors of the economy are Banks and financial institutions, the service sector, industry and manufacturing.
Mesoeconomics
Economics focuses on measurable ways of describing social behavior. In orthodox neoclassical synthesis economics, there are two main kinds of recognized economic thinking – micro-economics, which focuses on the action of individual buyers and sellers responding to signals sent by price to set production and distribution of effort, and macroeconomics, which focuses on how whole economies go through cycles of activity, and how different large aggregate sectors relate to each other.
Master of Economics
Typically, the curriculum is structured around core topics, with any optional coursework complementary to the program focus. The core modules are usually in microeconomic theory, macroeconomic theory and econometrics. Theory-focused degrees will tend to cover these more mathematically, and emphasize econometric theory as opposed to econometric techniques and software; these will also require a separate course in mathematical economics. Note though that regardless of focus, most programs "now place a marked emphasis on the primacy of mathematics", and many universities thus also require "quantitative techniques", especially where mathematical economics is not a core course. Some (doctoral) programs include core work in economic history.
Microeconomics
Applied microeconomics includes a range of specialized areas of study, many of which draw on methods from other fields. Industrial organization examines topics such as the entry and exit of firms, innovation, and the role of trademarks. Labor economics examines wages, employment, and labor market dynamics. Financial economics examines topics such as the structure of optimal portfolios, the rate of return to capital, econometric analysis of security returns, and corporate financial behavior. Public economics examines the design of government tax and expenditure policies and economic effects of these policies (e.g., social insurance programs). Political economy examines the role of political institutions in determining policy outcomes. Health economics examines the organization of health care systems, including the role of the health care workforce and health insurance programs. Education economics examines the organization of education provision and its implication for efficiency and equity, including the effects of education on productivity. Urban economics, which examines the challenges faced by cities, such as sprawl, air and water pollution, traffic congestion, and poverty, draws on the fields of urban geography and sociology. Law and economics applies microeconomic principles to the selection and enforcement of competing legal regimes and their relative efficiencies. Economic history examines the evolution of the economy and economic institutions, using methods and techniques from the fields of economics, history, geography, sociology, psychology, and political science.
Princeton University Department of Economics
The undergraduate program is one of the most prestigious programs for the study of economics in the country and in the world. Economics is the most popular concentration (major) at the undergraduate level. Because the university does not have a business school, the economics concentration attracts many students who are interested in careers in investment banking, management consulting, finance, technology, and more. The curriculum itself is theoretical in nature, requiring students complete quantitative courses up to multivariate calculus. In partnership with the Bendheim Center for Finance, the department also offers an Undergraduate Finance Certificate.
Economist
The professionalization of economics, reflected in academia, has been described as "the main change in economics since around 1900." Economists debate the path they believe their profession should take. It is, primarily, a debate between a scholastic orientation, focused on mathematical techniques, and a public discourse orientation, which is more focused on communicating to lay people pertinent economic principles as they relate to public policy. Surveys among economists indicate a preference for a shift toward the latter.
Evolutionary economics
Evolutionary economics is part of mainstream economics as well as a heterodox school of economic thought that is inspired by evolutionary biology. Much like mainstream economics, it stresses complex interdependencies, competition, growth, structural change, and resource constraints but differs in the approaches which are used to analyze these phenomena.
Outline of economics
Economics – analyzes the production, distribution, and consumption of goods and services. It aims to explain how economies work and how economic agents interact.
Mainstream economics
Economics has always featured multiple schools of economic thought, with different schools having different prominence across countries and over time. The current use of the term "mainstream economics" is specific to the post–World War II era, particularly in the English-speaking world, and to a lesser extent globally.
Branches of botany
Botany is a natural science concerned with the study of plants. The main branches of botany (also referred to as "plant science") are commonly divided into three groups: core topics, concerned with the study of the fundamental natural phenomena and processes of plant life, the classification and description of plant diversity; applied topics which study the ways in which plants may be used for economic benefit in horticulture, agriculture and forestry; and organismic topics which focus on plant groups such as algae, mosses or flowering plants.
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 common perspective on the way economies work. While economists do not always fit into particular schools, particularly in modern times, classifying economists into schools of thought is common. Economic thought may be roughly divided into three phases: premodern (Greco-Roman, Indian, Persian, Islamic, and Imperial Chinese), early modern (mercantilist, physiocrats) and modern (beginning with Adam Smith and classical economics in the late 18th century). Systematic economic theory has been developed mainly since the beginning of what is termed the modern era.
Macroeconomics
While macroeconomics is a broad field of study, there are two areas of research that are emblematic of the discipline: the attempt to understand the causes and consequences of short-run fluctuations in national income (the business cycle), and the attempt to understand the determinants of long-run economic growth (increases in national income). Macroeconomic models and their forecasts are used by governments to assist in the development and evaluation of economic policy.
Hydraulic macroeconomics
Hydraulics is the science and engineering of the mechanical properties of liquids. Macroeconomics is the study of the performance and structure of an entire economy. Hydraulic macroeconomics is, essentially, a study of the economy that treats money as a form of liquid that circulates through the economic plumbing.