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Economics – analyzes the production, distribution, and consumption of goods and services. It aims to explain how economies work and how economic agents interact.
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[hide]Nature of economics[edit]
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 specialise 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 sociology-related scientific journals.
- Social science – field of academic scholarship that explores aspects of human society.
Essence of economics[edit]
Branches of economics[edit]
Subdisciplines of economics[edit]
Labor economics
Methodologies or approaches[edit]
- Behavioural economics
- Computational economics
- Econometrics
- Evolutionary economics
- Experimental economics
- Praxeology - (used by the Austrian School)
- Social psychology
Multidisciplinary fields involving economics[edit]
- Constitutional economics
- Econophysics
- Neuroeconomics
- Political economy
- Socioeconomics
- Thermoeconomics
- Transport economics
Economies by region[edit]
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History of economics[edit]
Main article: History of economic thought
- Economics of classical antiquity
- Economics in the Middle Ages: Feudalism and Manorialism
- Economics of the Renaissance: Mercantilism
- Economics of the Age of Enlightenment
- British Enlightenment
- French Enlightenment: Physiocracy
- François Quesnay
- Tableau économique
- Anne Robert Jacques Turgot, Baron de Laune
- Reflections on the Formation and Distribution of Wealth
- François Quesnay
- Economics of the Industrial Revolution: Classical economics, Political economy
- Schools of economic thought
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Types of economies[edit]
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Main articles: Economy and Economic system
An economy is the system of human activities related to the production, distribution, exchange, and consumption of goods and services of a country or other area.Economies, by political & social ideological structure[edit]
See also: Economic ideology
- Capitalist economy
- Communist economy
- Corporate economy
- Fascist economy
- Laissez-faire
- Mercantilism
- Natural economy
- Primitive communism
- Social market economy
- Socialist economy
Economies, by scope[edit]
- Anglo-Saxon economy
- American School
- Hunter-gatherer economy
- Information economy
- New industrial economy
- Palace economy
- Plantation economy
- Token economy
- Traditional economy
- Transition economy
- World economy
Economies, by regulation[edit]
- Closed economy
- Dual economy
- Gift economy
- Informal economy
- Market economy
- Mixed economy
- Open economy
- Participatory economy
- Planned economy
- Subsistence economy
- Underground economy
- Virtual economy
Market forms[edit]
Main article: Market form
- Perfect competition, in which the market consists of a very large number of firms producing a homogeneous product.
- Monopolistic competition, also called competitive market, where there are a large number of independent firms which have a very small proportion of the market share.
- Monopoly, where there is only one provider of a product or service.
- Monopsony, when there is only one buyer in a market.
- Natural monopoly, a monopoly in which economies of scale cause efficiency to increase continuously with the size of the firm.
- Oligopoly, in which a market is dominated by a small number of firms which own more than 40% of the market share.
- Oligopsony, a market dominated by many sellers and a few buyers.
General economic concepts[edit]
Persons influential in the field of economics[edit]
Economic historians[edit]
Nobel Prize winning economic historians[edit]
- Milton Friedman won the Nobel Memorial Prize in Economic Sciences in 1976 for "his achievements in the fields of consumption analysis, monetary history and theory and for his demonstration of the complexity of stabilization policy".
- Robert Fogel and Douglass North won the Nobel in 1993 for "having renewed research in economic history by applying economic theory and quantitative methods in order to explain economic and institutional change".
- Merton Miller, who started his academic career teaching economic history at the LSE, won the Nobel in 1990 with Harry Markowitz and William Sharpe.
Other notable economic historians[edit]
See also[edit]
See also: Index of economics articles
- List of accounting topics
- List of community topics
- List of economics films
- List of economists
- List of finance topics
- List of international trade topics
- JEL classification codes
- List of management topics
- List of marketing topics
- List of business law topics
- List of business theorists
- List of production topics
External links[edit]
| Find more about Economics at Wikipedia's sister projects | |
 | Definitions and translations from Wiktionary |
 | Media from Commons |
 | Quotations from Wikiquote |
 | Source texts from Wikisource |
 | Textbooks from Wikibooks |
 | Learning resources from Wikiversity |
 | Wikiversity has learning materials about School:Economics |
- The Joy of Economics, chapter 1 of Surfing Economics by Huw Dixon
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