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Classical Economics
Classical economics
Classical economics
or classical political economy (also known as liberal economics) is a school of thought in economics that flourished, primarily in Britain, in the late 18th and early-to-mid 19th century. Its main thinkers are held to be Adam Smith, Jean-Baptiste Say, David Ricardo, Thomas Robert Malthus, and John Stuart Mill. These economists produced a theory of market economies as largely self-regulating systems, governed by natural laws of production and exchange (famously captured by Adam Smith's metaphor of the invisible hand). Adam Smith's The Wealth of Nations
The Wealth of Nations
in 1776 is usually considered to mark the beginning of classical economics.[1] The fundamental message in Smith's book was that the wealth of any nation was determined not by the gold in the monarch's coffers, but by its national income
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Public Economics
Public economics
Public economics
(or economics of the public sector) is the study of government policy through the lens of economic efficiency and equity. At its most basic level, public economics provides a framework for thinking about whether or not the government should participate in economic markets and to what extent it should do so. In order to do this, microeconomic theory is utilized to assess whether the private market is likely to provide efficient outcomes in the absence of governmental interference. Inherently, this study involves the analysis of government taxation and expenditures. This subject encompasses a host of topics including market failures, externalities, and the creation and implementation of government policy
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Expeditionary Economics
Expeditionary economics
Expeditionary economics
is an emerging field of economic enquiry that focuses on the rebuilding and reconstructing of economies in post-conflict nations and providing support to disaster-struck nations. The term was first introduced in 2010 in an essay by Carl Schramm, the former president and CEO of the Ewing Marion Kauffman Foundation.[1] It focuses on the need for good economic planning on the part of developed nations to help prevent the creation of failed states. It also emphasizes the need for the structuring on new firms to rebuild the national economies.[2] Since then, the theory has been used by the U.S. Government
U.S. Government
and the U.S. Army
U.S. Army
to restructure the economies of countries such as Iraq
Iraq
and Afghanistan
Afghanistan
and helping Haiti
Haiti
after its severe earthquake
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Business Economics
Business
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.[1] A professional focus of the journal Business
Business
Economics
Economics
has been expressed as providing "practical information for people who apply economics in their jobs."[2]Contents1 Subject matter 2 Ambiguity in the use of term 3 Interpretations from various universities 4 See also 5 Notes 6 Journals 7 External linksSubject matter[edit] Business
Business
economics is concerned with economic issues and problems related to business organization, management, and strategy
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Demographic Economics
Demographic economics
Demographic economics
or population economics is the application of economic analysis to demography, the study of human populations, including size, growth, density, distribution, and vital statistics.[1][2] Aspects of the subject includemarriage and fertility[1][3][4][5][6][7][8][9][10] the family[11][12][13][14][15][16][17] divorce[18][19][20] morbidity[21] and life expectancy/mortality[22][23][24] dependency ratios[1][3][25][26][27] migration[28][29][30] population growth[31][32][33][34][35][36][37][38] population size[39][40]
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Economics Of Digitization
The economics of digitization is the field of economics that studies how digitization affects markets and how digital data can be used to study economics. Digitization
Digitization
is the process by which technology lowers the costs of storing, sharing, and analyzing data. This process has changed how consumers behave, how industrial activity is organized, and how governments operate. The economics of digitization exists as a distinct field of economics for two reasons. First, new economic models are needed because many traditional assumptions about information no longer holds in a digitized world. Second, the new types of data generated by digitization require new methods to analyze. Research in the economics of digitization touches on several fields of economics including industrial organization, labor economics, and intellectual property
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Ecological Economics
Ecological economics
Ecological economics
(also called eco-economics, ecolonomy or bioeconomics of Georgescu-Roegen) 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.[1] By treating the economy as a subsystem of Earth's larger ecosystem, and by emphasizing the preservation of natural capital, the field of ecological economics is differentiated from environmental economics, which is the mainstream economic a
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Education Economics
Education
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. From early works on the relationship between schooling and labor market outcomes for individuals, the field of the economics of education has grown rapidly to cover virtually all areas with linkages to education.Contents1
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Environmental Economics
Environmental economics
Environmental economics
is a sub-field of economics that is concerned with environmental issues. Quoting from the National Bureau of Economic Research Environmental Economics
Economics
program:... Environmental Economics
Economics
... undertakes theoretical or empirical studies of the economic effects of national or local environmental policies around the world ...
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Economic Geography
Economic geography
Economic geography
is the study of the location, distribution and spatial organization of economic activities across the world
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Post-scarcity Economy
Post-scarcity is an economic theory in which most goods can be produced in great abundance with minimal human labor needed, so that they become available to all very cheaply or even freely.[1][2] Post-scarcity is not generally taken to mean that scarcity has been eliminated for all consumer goods and services; instead, it is often taken to mean that all people can easily have their basic survival needs met along with some significant proportion of their desires for goods and services,[3] with writers on the topic often emphasizing that certain commodities are likely to remain scarce in a post-scarcity society.[4][5][6][7] In the paper "The Post- Scarcity
Scarcity
World of 2050-2075",[8] authors assert that we are currently living an age of scarcity resulting from negligent behavior (as regards the future) of the 19th and 20th centuries
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Health Economics
Health
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
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Information Economics
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.[1] The subject of "information economics" is treated under Journal of Economic Literature classification code JEL D8 – Information, Knowledge, and Uncertainty. The present article reflects topics included in that code. There are several subfields of information economics. Information as signal has been described as a kind of negative measure of uncertainty.[2] It includes complete and scientific knowledge as special cases
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Labour Economics
Labour economics
Labour economics
seeks to understand the functioning and dynamics of the markets for wage labour. Labour markets or job markets function through the interaction of workers and employers. Labour economics
Labour economics
looks at the suppliers of labour services (workers) and the demanders of labour services (employers), and attempts to understand the resulting pattern of wages, employment, and income. In economics, labour is a measure of the work done by human beings. It is conventionally contrasted with such other factors of production as land and capital
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Managerial Economics
Managerial economics
Managerial economics
is the "application of the economic concepts and economic analysis to the problems of formulating rational managerial decisions".[1] It is sometimes referred to as business economics and is a branch of economics that applies microeconomic analysis to decision methods of businesses or other management units. As such, it bridges economic theory and economics in practice.[2] It draws heavily from quantitative techniques such as regression analysis, correlation and calculus.[3] If there is a unifying theme that runs throug
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Monetary Economics
Monetary economics
Monetary economics
is a branch of economics that provides a framework for analyzing money in its functions as a medium of exchange, store of value, and unit of account
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