ECONOMIC
ECONOMY
STUDIES
WHAT DOES ECONOMICS STUDY?
PRINCIPLES OF ECONOMICS/ WHAT IS ECONOMICS?
ECONOMIC HISTORY
ECONOMETRICS
WHAT IS BUSINESS ECONOMICS
ECONOMIC IMPACT ANALYSIS
ECONOMIC STUDIES LINKS
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SECTION 1
WHAT DOES
ECONOMICS
STUDY?
Economics is the science that studies how people and societies make
decisions that allow them to get the most out of their limited resources.
And because every country, every business, and every person has to deal
with constraints and limitations, economics is literally everywhere.
What Does Economics Study?
http://catalogimages.wiley.com/images/db/pdf/0764557262.excerpt.pdf
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SECTION 2
PRINCIPLES
OF ECONOMICS
WHAT IS
ECONOMICS?
Economics is a social science that studies how people satisfy unlimited
wants with scarce resources. It involves the analysis of choice and trade
through the use of intuitive graphs and mathematical elements.
The discipline is divided into two sections:
microeconomics (micro)
macroeconomics (macro).
Micro and Macro
Microeconomics studies small-scale economies. That is, from the individual
level on up to the industry level. Microeconomics is concerned with how
consumers (buyers) and producers (sellers) come together to exchange goods
and services, how much is produced, what to produce, and the going prices.
It focuses on the actions of individuals and firms, like the dynamics
between buyers and sellers, borrowers and lenders.
Macroeconomics is the branch that studies large-scale economies. Macroeconomics
observes and analyzes how entire countries, full of many industries and consumers,
function. It is not simply the sum of many "microeconomics"; many of the concepts
are entirely different. Where micro will study a single consumer, a paper-clip
manufacturing plant or the airline industry, macro studies the entire economy
within which those three exist. Some of the elements of a large economy that
macroeconomics considers include inflation, government policies, output growth,
and unemployment.
Themes
Economics involves several recurring themes:
Trade - buying and selling goods and services
Models - simplistic situations to understand complex ones
Utility - a measure of people's happiness
Choices - choosing the best allocation of resources
Efficiency - maximizing production and profits
Scarcity - the premise that people only have so much to work with
Costs - "there is no such thing as a free lunch"
Money - who has money, access to it, how it is used, etc.
Consumption - the buyers in the market who form the demand
Production - the sellers in the market who form the supply
Rationality - people doing things with good and logical reasoning
Human Behavior
The field of economics is a social science. This means that economics
has two important attributes:
Economics studies human activities and constructions,
Economics uses the scientific method and empirical evidence to build
its base of knowledge.
Economics is a semi-concrete social science. We must study human behavior
and the choices we make. The assumption that people are rational indicates
that the discipline focuses heavily on thinking of what would ideally happen
in models. Additionally, we have concrete data—numbers—to work with. Formally,
economics is the scientific study of the way in which humans make choices
about production, consumption and wealth when faced with scarce resources.
The fact that economics is in several ways an abstract science means that
various economists have differing interpretations of models and the way the
world works. Furthermore, it is difficult to run experiments on social
situations, especially on a scale as large as an entire nation. Therefore,
economists rely on extensive mathematical tools, like econometrics, to
analyze real world situations that have occurred and use that to forecast
future situations.
Principles of Economics/What Is Economics
https://en.wikibooks.org/wiki/Principles_of_Economics/What_Is_Economics
Category:Principles of Economics
https://en.wikibooks.org/wiki/Category:Principles_of_Economics
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SECTION 3
ECONOMIC
HISTORY
Economic history is the study of economies or economic phenomena
of the past. Analysis in economic history is undertaken using a
combination of historical methods, statistical methods and the
application of economic theory to historical situations and
institutions. The topic includes financial and business history
and overlaps with areas of social history such as demographic and
labor history. The quantitative—in this case, econometric—study
of economic history is also known as cliometrics.
Economic history
https://en.wikipedia.org/wiki/Economic_history
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SECTION 4
ECONOMETRICS
Econometrics is the application of statistical methods to economic
data and is described as the branch of economics that aims to give
empirical content to economic relations. More precisely, it is "the
quantitative analysis of actual economic phenomena based on the
concurrent development of theory and observation, related by
appropriate methods of inference". An introductory economics
textbook describes econometrics as allowing economists "to sift
through mountains of data to extract simple relationships".
Econometrics
https://en.wikipedia.org/wiki/Econometrics
Cliometrics
https://en.wikipedia.org/wiki/Cliometrics
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SECTION 5
WHAT IS
BUSINESS
ECONOMICS
Business economics is the study of the financial issues and
challenges faced by corporations operating in a specified
marketplace or economy. Business economics deals with issues
such as business organization, management, expansion and
strategy. Studies might include how and why corporations expand,
the impact of entrepreneurs, the interactions between corporations,
and the role of governments in regulation.
What is 'Business Economics'
http://www.investopedia.com/terms/b/business-economics.asp
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SECTION 6
ECONOMIC
IMPACT
ANALYSIS
An economic impact analysis (EIA) examines the effect of an event on
the economy in a specified area, ranging from a single neighborhood
to the entire globe. It usually measures changes in business revenue,
business profits, personal wages, and/or jobs. The economic event
analyzed can include implementation of a new policy or project, or
may simply be the presence of a business or organization. An economic
impact analysis is commonly conducted when there is public concern
about the potential impacts of a proposed project or policy.
An economic impact analysis typically measures or estimates the change
in economic activity between two scenarios, one assuming the economic
event occurs, and one assuming it does not occur (which is referred to
as the counterfactual case). This can be accomplished either before or
after the event (ex ante or ex post).
Economic impact analysis
https://en.wikipedia.org/wiki/Economic_impact_analysis
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SECTION 7
ECONOMIC
STUDIES
LINKS
Academic Journal of Economic Studies
http://www.ajes.ro/
Applied Econometric Association
http://www.aea-eu.com
Business vs. economics
https://www.unigo.com/in-college/college-experience/business-vs-economics-what-is-the-difference
Center for Economic Studies (CES)
https://www.census.gov/ces/
Center for Global & Economic Studies
http://business.marquette.edu/centers-and-programs/global-economic-studies
Econometric Society
http://www.econometricsociety.org
The Econometrics Journal
http://www.ectj.org
Econometric Links
http://www.econometriclinks.com
Economics
http://isp.ucsd.edu/undergraduate/major-requirements/economics.html
Economics
https://ocw.mit.edu/courses/economics/index.htm
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Economics
http://economics.gmu.edu/
Economics
http://www.socialstudiesforkids.com/subjects/economics.htm
Economics case studies
http://www.ibscdc.org/economics_case_studies.asp
Economics Departments, Institutes and Research Centers in the World (EDIRC)
http://edirc.repec.org/
The Economics Network
http://www.economicsnetwork.ac.uk/
Economic journals on the web
http://www.oswego.edu/~economic/journals.htm
A Guide to several online economics textbooks
http://www.oswego.edu/~economic/newbooks.htm
The International Finance Corporation
http://www.ifc.org/
Joint Center for Political and Economic Studies
http://jointcenter.org/
The Journal of Business and Economic Studies (JBES)
http://management.njit.edu/jbes/
Journal of Financial Econometrics
http://jfec.oxfordjournals.org/
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Library of Economics and Liberty
http://www.econlib.org/index.html
The National Bureau of Economic Research NBER
http://www.nber.org/
OECD Journal: Economic Studies
http://www.oecd.org/eco/growth/economicstudies.htm
The Peterson Institute for International Economics (PIIE)
https://piie.com/
The Review of Economic Studies
http://www.restud.com/
The Society for Financial Econometrics
http://sofie.stern.nyu.edu/
Study Economics Abroad Programs
https://www.studyabroad.com/worldwide/economics
Teaching Econometrics
http://www.economicsnetwork.ac.uk/subjects/econometrics.htm
What does economics study?
https://www.justanswer.com/homework/668hj-does-economics-study.html
What is Economics?
http://http://www.merrimack.edu/academics/liberal_arts/economics/what_is_economics.php
What is Economics and Business Economics?
http://www.ru.nl/economics/@776702/pagina/
What is Economics? Why Study It?
https://mises.org/library/what-economics-why-study-it
Investopedia
http://www.investopedia.com/
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