Economics Academic Discipline
An Economics Academic Discipline is a social science discipline that studies an economic domain ..
- AKA: Field of Economics.
- Context:
- It can make use of an Economics Concept.
- It can range from being a Microeconomics Discipline (for microeconomic analysis) to being a Macroeconomics Discipline (of macroeconomic analysis).
- …
- Counter-Example(s):
- See: Public Finance, Marketplace, Item Supply, Item Demand, Scarse Resource, Economy Field, Behavioral Economics, Economic Policy, Economics Textbook.
References
2013
- http://en.wikipedia.org/wiki/Economics
- 'Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek οἰκονομία (oikonomia, "management of a household, administration") from οἶκος (oikos, "house") + νόμος (nomos, "custom" or "law"), hence "rules of the house(hold)".[1] Political economy was the earlier name for the subject, but economists in the late 19th century suggested "economics" as a shorter term for "economic science" that also avoided a narrow political-interest connotation and as similar in form to “mathematics", "ethics", and so forth.[2]
A focus of the subject is how economic agents behave or interact and how economies work. Consistent with this, a primary textbook distinction is between microeconomics and macroeconomics. Microeconomics examines the behavior of basic elements in the economy, including individual agents (such as households and firms or as buyers and sellers) and markets, and their interactions. Macroeconomics analyzes the entire economy and issues affecting it, including unemployment, inflation, economic growth, and monetary and fiscal policy.
Other broad distinctions include those between positive economics (describing "what is") and normative economics (advocating "what ought to be"); between economic theory and applied economics; between rational and behavioral economics; and between mainstream economics (more "orthodox" and dealing with the "rationality-individualism-equilibrium nexus") and heterodox economics (more "radical" and dealing with the "institutions-history-social structure nexus").[3][4]
Economic analysis may be applied throughout society, as in business, finance, health care, and government, but also to such diverse subjects as crime,[5] education,[6] the family, law, politics, religion,[7] social institutions, war,[8] and science.[9] At the turn of the 21st century, the expanding domain of economics in the social sciences has been described as economic imperialism.[10]
- 'Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek οἰκονομία (oikonomia, "management of a household, administration") from οἶκος (oikos, "house") + νόμος (nomos, "custom" or "law"), hence "rules of the house(hold)".[1] Political economy was the earlier name for the subject, but economists in the late 19th century suggested "economics" as a shorter term for "economic science" that also avoided a narrow political-interest connotation and as similar in form to “mathematics", "ethics", and so forth.[2]
- ↑ Harper, Douglas (November 2001). "Online Etymology Dictionary – Economy". http://www.etymonline.com/index.php?term=economy. Retrieved October 27, 2007.
- ↑ * Marshall, Alfred, and Mary Paley Marshall (1879). The Economics of Industry, Macmillan, p. 2.
* Jevons, W. Stanley (1879). The Theory of Political Economy, 2nd ed., Macmillan. p. xiv. - ↑ Andrew Caplin and Andrew Schotter, The Foundations of Positive and Normative Economics, Oxford University Press, 2008, ISBN 0-19-532831-0
- ↑ Davis, John B. (2006). “Heterodox Economics, the Fragmentation of the Mainstream, and Embedded Individual Analysis", in Future Directions in Heterodox Economics. Ann Arbor: University of Michigan Press.
- ↑ Friedman, David D. (2002). "Crime," The Concise Encyclopedia of Economics.'.' Retrieved October 21, 2007.
- ↑ The World Bank (2007). "Economics of Education.". Retrieved October 21, 2007.
- ↑ Iannaccone, Laurence R. (1998). “Introduction to the Economics of Religion", Journal of Economic Literature, 36(3), pp. 1465–1495..
- ↑ Nordhaus, William D. (2002). “The Economic Consequences of a War with Iraq", in War with Iraq: Costs, Consequences, and Alternatives, pp. 51–85. American Academy of Arts and Sciences. Cambridge, Massachusetts. Retrieved October 21, 2007.
- ↑ Arthur M. Diamond, Jr. (2008). “science, economics of", The New Palgrave Dictionary of Economics, 2nd Edition, Basingstoke and New York: Palgrave Macmillan. Pre-publication cached ccpy.
- ↑ * Lazear, Edward P. (2000|. "Economic Imperialism", Quarterly Journal Economics, 115(1)|, p. 99–146. Cached copy. Pre-publication copy(larger print.)
* Becker, Gary S. (1976). The Economic Approach to Human Behavior. Links to arrow-page viewable chapter. University of Chicago Press.
2009
- (WordNet, 2009) ⇒ http://wordnetweb.princeton.edu/perl/webwn?s=economics
- S: (n) economics, economic science, political economy (the branch of social science that deals with the production and distribution and consumption of goods and services and their management)
2005
- (Searle, 2005) ⇒ John R. Searle. (2005). “What is An Institution.” In: Journal of Institutional Economics, 1(1).
- QUOTE: Economics as a subject matter, unlike physics or chemistry, is largely concerned with institutional facts. Facts about money and interest rates, exchange and employment, corporations and the balance of payments, form the very heart of the subject of economics. When Lionel Robbins, in a classic work, tells us that “Economics is a study of the disposal of scarce commodities,” he takes for granted a huge invisible institutional ontology. Two dogs fighting over a bone or two school boys fighting over a ball are also engaged in the “disposal of scarce commodities, ” but they are not central to the subject matter of economics. For economics, the mode of existence of the “commodities” and the mechanisms of “disposal” are institutional. Given the centrality of institutional phenomena, it is somewhat surprising that institutional economics has not always been at the center of mainstream economics.