Economics is the social science that studies the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek οἰκονομία (oikonomia, "management of a household, administration") from οἶκος (oikos, "house") + νόμος (nomos, "custom" or "law"), hence "rules of the house(hold)".[1] Current economic models developed out of the broader field of political economy in the late 19th century, owing to a desire to use an empirical approach more akin to the physical sciences.[2]
A definition that captures much of modern economics is that of Lionel Robbins in a 1932 essay: "the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses."[3] Scarcity means that available resources are insufficient to satisfy all wants and needs. Absent scarcity and alternative uses of available resources, there is no economic problem. The subject thus defined involves the study of choices as they are affected by incentives and resources.
Economics aims to explain how economies work and how economic agents interact. Economic analysis is applied throughout society, in business, finance and government, but also in crime,[4] education,[5] the family, health, law, politics, religion,[6] social institutions, war,[7] and science.[8] The expanding domain of economics in the social sciences has been described as economic imperialism.[9][10]
Common distinctions are drawn between various dimensions of economics: between positive economics (describing "what is") and normative economics (advocating "what ought to be") or between economic theory and applied economics or between mainstream economics (more "orthodox" dealing with the "rationality-individualism-equilibrium nexus") and heterodox economics (more "radical" dealing with the "institutions-history-social structure nexus"[11]). However the primary textbook distinction is between microeconomics ("small" economics), which examines the economic behavior of agents (including individuals and firms) and macroeconomics ("big" economics), addressing issues of unemployment, inflation, monetary and fiscal policy for an entire economy.
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Economics and Business Studies Department These subjects are offered to AS and A level in Years 12 and 13 Furthermore the department contributes sessions on Economic Understanding in
Kevin
Mon, 09 Nov 2009 13:53:15 GM
Council On Foreign Relations Symposium on Pandemic Influenza: Science, . Economics. and Foreign Policy: Fake Scarcity of H1N1 Vaccine to Convince People to Take It (Laughter). November 9th, 2009. Lone Simonsen, Research Professor and ...
Q. I want to start a home economics club in my high school, but I'm not sure how to carry with it. To top that off, I don't have any credentials to teach because I know just a few basic things. I really want one though, because I do love cooking with a passion. :) does anyone know how to go about this?
Asked by paperdollsxo - Fri Feb 27 21:52:06 2009 - - 2 Answers - 0 Comments
A. talk to your principal! also ask some student council members if you think it could work. your guidance counselor who would be the best person to talk to, (s)he would probably give you a name of a teacher and then you can really run with the idea :). most schools have home ec classes, so also try to find out about who that teacher is. & just wondering..by home economics do you mean just cooking? because home ec includes sewing and stuff. so you might want to make sure that if you just want a cooking club, tell your counselor/teacher/princip al/stuco rep that you want a culinary arts club because that would probably be more of what you want since you love cooking. best of luck to you!
Answered by asdfghjkl; - Sun Mar 1 19:09:07 2009
