imported>João Prado Ribeiro Campos |
imported>Nick Gardner |
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| ==Economics subdisciplines==
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| {{main|Economics}} | | ==Economists== |
| ===[[Economic Theory]]=== | |
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| ===='''[[Microeconomics]]'''==== | | ===Christine Romer=== |
| | | Professor of Economics at the University of California, Berkeley. Former Chair of the Presidential Council of Economic Advisers, (January 2009 to September 2010). |
| [[Microeconomics]] <ref name=MICRO_EXERCISES>[http://www.msu.edu/course/ec/201/brown/pim/ '''''MICROECONOMICS: Most important concepts explained in detail'''''. Text and workable problems. <small>'''WARNING: Internet Explorer will not work!''' Get "Firefox" or "Netscape" for free. Requires "Adobe Acrobat Reader" as a helper to your web browser. You will need "Excel 97" or higher running on your computer to use the spreadsheets.</small>]</ref> examines the economic behaviour of individual of units called '''"economic agents"''' such as (generally) businesses, households, and individuals, with a view to understand decision making in the face of scarcity and the allocation consequences of these decisions.
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| =====[[Managerial economics]]=====
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| '''[[Managerial economics]]''' (also called '''''[[Business economics|business economics]]'''''), is the branch of economics that applies [[microeconomic]] analysis to specific business decisions. As such, it bridges [[economic theory]] and economics in practice. It draws heavily from quantitative techniques such as regression and correlation, Lagrangian calculus, linear programming, decision theory, and game theory. It is similar to operations research in this regard, and indeed uses operations research techniques.
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| =====[[Urban Economics]]=====
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| '''[[Urban Economics]]''' is a branch of [[Microeconomics]] that studies the location of households and firms. While other forms of economics do not account for spatial relationships between individuals and organizations, [[urban economics]] focuses on these spatial relationships to understand the economic motivations underlying the formation, functioning, and development of cities.
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| It develops economic theoretical models for cities that account for factors such as utility gains from lower average land rents and increasing (or constant returns) due to economies of agglomeration.
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| ===='''[[Macroeconomics]]'''====
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| [[Macroeconomics]] examines an economy as a whole with a view to understanding the interaction between ''economic aggregates'' such as national income, employment and inflation, as well as economic performance measures, economic growth, and international economics. Note that general equilibrium theory combines concepts of a macro-economic view of the economy, but does so from a strictly constructed microeconomic viewpoint.
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| =====[[Development economics]]=====
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| '''[[Development economics]]''' is a branch of [[macroeconomics]] that deals with the study of the causes of long term economic growth, especially in developing countries. This may involve using mathematical methods from dynamical systems like differential equations and inter-temporal optimization, or it may involve a mixture of quantitative and qualitative methods.
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| Development economics also includes topics such as Third World debt, and the functions of such organisations as the IMF and World Bank. Many economists in this field are interested in ways of promoting stable and sustainable growth in poor countries and areas, by promoting self reliance and education in some of the lowest income countries in the world. Where economic issues merge with social and political ones, it is referred to as [[Development Studies]].
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| ===Comprehensive subdisciplines===
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| The follwing subdisciplines do not fit neatly under the major division of [[microeconomics|micro]] or [[macroeconomics]], abranging both fields.
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| ===='''[[Econometrics]]'''====
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| Studies the application of statistical and mathematical methods in the field of economics to describe the numerical relationships between key economic forces such as capital, interest rates, and labor.
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| ===='''[[Econophysics]]'''====
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| [[Econophysics]] and the closely-related field of [[sociophysics]] are areas of interdisciplinary research using methods and techniques from physics to model economic and other social phenomena respectively.
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| ====[[International economics]]====
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| '''[[International economics]]''' is the branch of economics relating to ideas such as International trade, Foreign Direct Investment (FDI), and the exchange rate and how they influence one another.
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| ====[[Labour economics]]====
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| '''[[Labour economics]]''' analyses the functioning of the market for labour analysing its supply (workers) and demand (employers) and attempts to understand the resulting pattern of wages, employment, and income.
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| ====[[Welfare economics]]====
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| '''[[Welfare economics]]''' is the branch of economics that uses [[Microeconomics|microeconomic]] techniques to simultaneously determine the allocational efficiency of a [[Macroeconomics|macroeconomy]] and the income distribution consequences associated with it. It attempts to ''"maximize the level of social welfare"'' by examining the economic activities of the individuals that comprise society.
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| ====[[Neuroeconomics]]====
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| '''[[Neuroeconomics]]''' is a branch of economics which studies the neural mechanisms of decision-making and their economic significance.
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| ====[[Information economics]]====
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| '''[[Information economics]]''' studies how ''"Information"'' affects economic decisions exploring the consequences of ''information asymmetries'' and such concepts as ''adverse selection'' and ''moral hazard''. [[Joseph E. Stiglitz]] is one who greatly contibuted to the creation of this new branch in Economics.
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| ====[[Resource economics]]====
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| '''''[[Resource economics]]''''' is a branch of Economics which includes the study of environmental economics, agricultural production and marketing, bioeconomics, community economic development, Resource utilization, and environmental policy.
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| ====[[Environmental economics]]====
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| '''[[Environmental Economics]]''' undertakes theoretical or empirical studies of the economic effects of national or local environmental policies around the world. Particular issues include the costs and benefits of alternative environmental policies to deal with air pollution, water quality, toxic substances, solid waste, and global warming.
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| ====[[Financial economics]]====
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| '''[[Financial economics]]''' is the branch of economics concerned with the workings of financial markets, such as the stock market, and the financing of companies. The questions addressed are typically framed in terms of "time, uncertainty, options and information"
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| ====[[Economic geography]]====
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| '''[[Economic geography]]''' is the study of the widely varying Economic conditions across the earth which analyses the economic impact of factors such as climate, geology, and socio-political factors.
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| ====[[Behavioural economics]]====
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| '''[[Behavioural economics]]''' is the study of how the nature and causes of human ''Social behavior'' affects Economic decisions. In early-modern Social science theory, [[John Stuart Mill]], [[Comte]], and others, laid the foundation for Social psychology by asserting that human ''Social cognition and behavior'' could and should be studied scientifically like any other natural science.
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| ====[[Experimental economics]]====
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| '''[[Experimental Economics]]''' is the use of experimental methods to evaluate theoretical predictions of economic behaviour. Historically most economics experiments were conducted in the laboratory, but recently interest in economics field experiments has grown. Economics experiments can be loosely classified into the following topics: Market Games, Bargaining, Auctions, Social Preferences, Learning, Matching, and Field Experiments.
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