Economics can be described as all of the following:
Academic discipline - body of knowledge given to, or received by, a disciple (student); a branch or sphere of knowledge, or field of study, that an individual has chosen to specialize in.
Field of science - widely recognized category of specialized expertise within science, and typically embodies its own terminology and nomenclature. Such a field will usually be represented by one or more scientific journals, where peer reviewed research is published. There are many economics-related scientific journals.
Social science - field of academic scholarship that explores aspects of human society.
Branches of economics
Macroeconomics - branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole, rather than individual markets.
Microeconomics - branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of limited resources.
Policy mix - combination of a country's monetary policy and fiscal policy. These two channels influence growth and employment, and are generally determined by the central bank and the government (e.g., the United States Congress) respectively.
Robert Fogel and Douglass North won the Nobel Memorial Prize in 1993 for "having renewed research in economic history by applying economic theory and quantitative methods in order to explain economic and institutional change".
Called by H. L. Mencken, one of the few economists in history who could really write, Henry Hazlitt achieved lasting fame for this brilliant but concise work. In it, he explains basic truths about economics and the economic fallacies responsible for unemployment, inflation, high taxes, and recession. Covering considerable ground, Hazlitt illustrates the destructive effects of taxes, rent and price controls, inflation, trade restrictions, and minimum-wage laws. He also writes about key classical liberal thinkers like John Locke, Adam Smith, Thomas Jefferson, John Stuart Mill, Alexis de Tocqueville, and Herbert Spencer.
In this fifth edition of Basic Economics, Thomas Sowell revises and updates his popular book on common sense economics, bringing the world into clearer focus through a basic understanding of the fundamental economic principles and how they explain our lives. Drawing on lively examples from around the world and from centuries of history, Sowell explains basic economic principles for the general public in plain English.
Basic Economics, which has now been translated into six languages and has additional material online, remains true to its core principle: that the fundamental facts and principles of economics do not require jargon, graphs, or equations, and can be learned in a relaxed and even enjoyable way.
"Clear, concise, informative, witty and, believe it or not, entertaining." âChicago Tribune
Finally! A book about economics that wonât put you to sleep. In fact, you wonât be able to put this bestseller down. In our challenging economic climate, this perennial favorite of students and general readers is more than a good read, itâs a necessary investmentâwith a blessedly sure rate of return. Demystifying buzzwords, laying bare the truths behind oft-quoted numbers, and answering the questions you were always too embarrassed to ask, the breezy Naked Economics gives readers the tools they need to engage with pleasure and confidence in the deeply relevant, not so dismal science.
This revised and updated edition adds commentary on hot topics, including the current economic crisis, globalization, the economics of information, the intersection of economics and politics, and the historyâand futureâof the Federal Reserve.
Grasp the history, principles, theories, and terminology of economics with this updated bestseller
Since the initial publication of Economics For Dummies in 2005, the U.S. has endured a number of drastic changes and events that sent its economy into a tailspin. This newly revised edition presents updated material about the recent financial crisis and the steps taken to repair it.
Packed with refreshed information and relevant new examples from today's economy, it gives you a straightforward, easy-to-grasp understanding of how the economy functions-and how it influences personal finances.
New information on deciphering consumer behavior
Refresh coverage of fiscal and monetary policies
A new chapter on health care policy and the financial crisis
Presenting complex theories in simple terms and helping you decode the jargon, understand the equations, and debunk the common misconceptions, Economics For Dummies tackles the topic in terms you can understand.
When it comes to explaining current economic conditions, there is no economist readers trust more than New York Times columnist and Nobel laureate Paul Krugman.Â Term after term, Krugman is earning that same level of trust in the classroom, with more and more instructors introducing students to the fundamental principles of economics via Krugmanâs signature storytelling style. The new Third Edition of Paul Krugman and Robin Wellsâs Economics is their most accomplished yetâextensively updated to offer new examples and stories, new case studies from the business world, and expert coverage of the ongoing financial crisis.
From Aristotle and Thomas Aquinas, to Adam Smith and John Maynard Keynes, to the top economic thought leaders of today, The Economics Book is the essential reference for students and anyone else with an interest in how economies work.
Easy-to-follow graphics, succinct quotations, and thoroughly accessible text throw light on the applications of economics, making them relatable through everyday examples and concerns.
Employing DK's trademark visual approach, The Economics Book takes a frequently confusing subject and makes sense of it, clearly highlighting both historically important and emerging ideas in this critical field of science.
A Crash Course in the Study of Production and Consumption!
Too often, textbooks turn the noteworthy details of economics into tedious discourse that would put even Joseph Stiglitz to sleep. Economics 101 cuts out the boring explanations, and instead provides a hands-on lesson that keeps you engaged as you explore how societies allocate their resources for maximum benefit.
From quantitative easing to marginal utility, this primer is packed with hundreds of entertaining tidbits and concepts that you won't be able to get anywhere else.
So whether you're looking to master the major principles of finance, or just want to learn more about why money matters, Economics 101 has all the answers--even the ones you didn't know you were looking for.
Why do the poor borrow to save? Why do they miss out on free life-saving immunizations, but pay for unnecessary drugs? In Poor Economics, Abhijit V. Banerjee and Esther Duflo, two practical visionaries working toward ending world poverty, answer these questions from the ground. In a book the Wall Street Journal called Âmarvelous, rewarding,â the authors tell how the stress of living on less than 99 cents per day encourages the poor to make questionable decisions that feedÂnot fightÂpoverty. The result is a radical rethinking of the economics of poverty that offers a ringside view of the lives of the world's poorest, and shows that creating a world without poverty begins with understanding the daily decisions facing the poor.
McConnell/Brue/Flynn has long set the standard for providing high-quality content to instructors and students all over the world. It has remained the most widely used principles of economics product as a result of persistent innovation. The 19th edition brought adaptive technology to the market for the first time with LearnSmart, a resource that ensures that every minute a student spends studying is the most efficient and productive time possible. Feedback from users in combination with the analysis of student performance data from the 19th edition's digital products significantly informed the revision of the 20th edition, resulting in a product expertly tailored to the needs of todayâs students.
With the 20th edition, students and instructors will benefit from a new offering that expands upon the dynamic and superadaptive capabilities of LearnSmart: SmartBook, the first and only adaptive eBook. McConnell/Brue/Flynn's tradition of innovation continues with the 20th edition, providing market-leading content and digital mastery to benefit today's learners.
Connect is the only integrated learning system that empowers students by continuously adapting to deliver precisely what they need, when they need it, and how they need it, so that your class time is more engaging and effective.
The authors of this book, James Gwartney, Richard Stroup,Dwight Lee, Tawni Ferrarini, and Joseph Calhoun, are all life-long economic educators who know how to use the tools of economics to illuminate why both individuals and nations prosper and how they can be more successful.Â
The book is concise, thoughtfully orgaÂnized, and reader-friendly.Â Whether the economy is growing, stagnating, or declining,there are basic economic principles that are always operating,Â such as gains from trade, opportunity cost, ability of prices to communicate information, the importance of diversification, the power of incentives and how they create fundamental differences in market and political decisions.Â
Common Sense EconomicsÂ is written to provide comprehensive and understandable explanations of key principles that will help everyone make better personal and policy choices. Already a classic, the third edition is fully updated and more relevant than ever for a world starved for sound economics.