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Economics in layman terms is defined as an art and science of making available the limited resources to the individuals or organizations in order to satisfy the needs and desire of the same. Everyone in today's World, employs the rule of
economics in their day to day life. Like for say, the newborn becomes the consumer for various products and services like Baby foods, toys, etc.
Gradually with the increasing turmoil (financial and non financial) being experienced by almost each and every country of the World both within and outside economy(s), the importance of how to manage the resources has increased considerably among countries, companies and individuals across the globe. This has resulted in widening the scope of
economics too a great extent.
The World now, after witnessing the slowdown or recession in their respective or leading
economies, have become much more cautious and have started to employ the rule of economics in a very planned and careful way to safeguard their own interest (individuals) and the interest of the countrymen (government) against any of the slowdown or recession in the near future.
Economics brings along with it several benefits to the individuals and the society. Some of them are as under:
- Helps in optimizing the usage of the resources
- Helps in utilizing the opportunity cost
- Helps in gaining social efficiency
- Helps in stabilizing the overall economy
- Helps in maintaining the key financial indicators at favorable levels
International Economics, Micro & Macro Economics, Financial Economics, Mainstream Economics, Computational Economics, Keynes Theory, Inflation, Hyperinflation, Economies of Scale, Cost – Benefit Analysis, Market Structure, Social Choice Theory, Elasticity, IS/LM Model, Recession, Inflation, Growth, Great Depression, Balance of Payments.
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- Econometrics
- International trade
- Public economics
- World economic history
- International economics
- Globalization
- Income growth
- Environmental economics
- Regulation of monopoly
- Business economics
- International trade policy
- Demand & Supply of labor
- Unemployment
- Stochastic dominance
- Oligopoly
- Industrial organization
- Auctions
- Wages
- Immigration economics
- Tariff
- International finance
- Consumption
- Employment
- Measuring income and output
- Aggregate supply and demand
- Saving
- Investment
- Productivity
- The Keynesian multiplier model
- Economics of inequality and poverty
- Mathematical methods of economics
- Monopoly
- Gains from trade
- Exchange rates
- Capital
- Computational economics
- Monetary economics
- International finance
- Microeconomics
- Fiscal policy
- Demand curve
- Supply curve
- Macroeconomic policy
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- Hidden action
- Social capital
- Moral hazard
- The Planned aggregate demand model
- The Savings & Investment identity
- The Simple keynesian multiple
- Demand analysis
- Convexity and Generalizations
- Expected values to order statistics
- Utility maximization
- Hidden information
- Adverse selection
- Signaling
- Monopolistic competition
- Economics of science
- Policy business cycle fluctuations
- Business cycles
- Determinates of aggregate demand
- Disposable income
- Index number theory
- Normative economics
- Inflation interest rates
- Macroeconomics
- Asset markets
- Demand
- Duality
- Choice
- Cost function
- Cost minimization
- Equilibrium analysis
- Exchange
- Externalities
- Competitive markets
- Consumer's surplus
- Game theory
- Production
- Profit function
- Profit maximization
- Public goods
- Political economics
- Economic development
- Depression and unemployment
- Inflation and monetary policy
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Links For Economics Info
The Econometrics Journal
American Economic Association
International Monetary Fund
Economic Research Portal
American Institute For Economic Research
Economics Working Papers in Oxford
Economic Models
The International Economics Network