Economics
Field of Study
Quotes of note...FORMATTED FOR EASY PRINTING "The only way you can read this employment report is as good news. '' -- ALAN CLAYTON-MATTHEWS, an economics professor at Northeastern University, on the state's jobless rate falling for the first time in two... In this article: Sarah Palin, Economics, Political science, Northeastern University, Boston College, US Senate, Bernard Sanders, and Jose Luis Rodriguez Zapatero |
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Reuters | 18 hours ago
Senate sets hearing on Bernanke's renomination
...as an economic adviser before he returned to the central bank. Prior to these Washington posts, the former Princeton University economics professor's only political experience was serving on a local school board. When the financial crisis...
In this article: Ben Bernanke, The Fed, Christopher Dodd, Financial crisis, Thomson Reuters, Washington, and Recession
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Reuters | 1 day ago
FACTBOX - Who is Herman Van Rompuy?
...of October 1947 in Brussels, he was educated at the Jesuit Sint-Jan Berchmans College in central Brussels, then studied philosophy and economics at the Catholic University of Leuven. Before entering politics, Van Rompuy worked at the...
In this article: Herman Van Rompuy, Christian Democrat, Yves Leterme, Brussels, Philosophy, Recession, and Catholic University of Leuven
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Reuters | 1 day ago
FACTBOX-Profiles of Bank of Japan policy board members
...from credit markets, Shirakawa has vowed to maintain very low interest rates to support Japan's fragile economy. Previously an economics professor, he has been cautious about the economy, repeating that the outlook is highly uncertain and...
In this article: Bank of Japan, Masaaki Shirakawa, Japan, Deflation, and Deflationary spiral
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Detroit News | 2 days ago
WSU provost Nancy Barrett to step down
She'll join economics faculty; she's praised for leadership since assuming post in 2003 Detroit -- Nancy Barrett will step down as provost of Wayne State University at the end of the school year, and will join the economics faculty, Wayne...
In this article: Wayne State University, E mail, Harvard, and Kwame Kilpatrick
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Entrepreneurs and Small Business News and Information | 2 days ago
The Future Of Economic Forecasting
...employee's negative impulse--but such impulses are inherently vague and difficult to define. Unlike in freshwater economics, behavioral economics focuses primarily on the bounds of rationality. Behavioral economists assert that markets are...
In this article: Paul Krugman, University of Chicago, Irrationality, and Democracy
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boston.com - Latest New Hampshire news | 3 days ago
Dartmouth economics professor wins state award
THIS STORY HAS BEEN FORMATTED FOR EASY PRINTING HANOVER, N.H.-A Dartmouth College economics professor is being honored by two national organizations. Andrew Samwick, who also is director of Dartmouth's Nelson A. Rockefeller Center for...
In this article: Dartmouth College, Andrew Samwick, New Hampshire, All rights reserved, E mail, and Carnegie Foundation
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Clarion Ledger | 4 days ago
Miss. forum to honor economics teacher
The Mississippi Council on Economic Education on Wednesday will announce its 2009 U.S. Sen. Thad Cochran Economics Teacher of the Year award-winner. The announcement will be made during an MCEE event from noon-1:15 p.m. at the Jackson...
In this article: Tate Reeves and U.S.
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New York Times | 5 days ago
Workers of the World, Incorporate
Nancy Folbre is an economics professor at the University of Massachusetts, Amherst. On Oct. 27, the United Steelworkers announced an agreement with Mondragon International to move toward establishment of manufacturing cooperatives in the...
In this article: United Steelworkers, Ownership, Democracy, United States, Rate of return, Capitalism, and Venture capital
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Reuters | November 13, 2009
Investment in ecosystems will reap rewards - UNEP
People going into Copenhagen are not necessarily aware of these things," Pavan Sukhdev, the leader of the study prepared by UNEP's Economics of Ecosystems and Biodiversity Initiative, told Reuters. For example, planting and protecting...
In this article: United Nations, Deforestation, Copenhagen, Fossil fuel, Carbon, and WWF
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Sydney Morning Herald - Business | November 12, 2009
Everything is coming up roses in the economics cliche department
...complex ideas in a captivating way, and when such an easy pun presents itself, newspapers and economists leap at the chance to make economics exciting. But politicians come at it from a different direction, engineering catchphrases in...
In this article: Stanford University, Australia, Melbourne Cup, Cornell University, and Facebook
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Description from Wikipedia:
thumb|300px|A traditional [[marketplace is a physical arena where buyers and sellers meet, and the traded items are present, ready to change hands.|alt=A marketplace selling vegetables]]
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)". 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.
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." 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.
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