Personal Finance
Economics, Personal Finance, income, financial planning, insurance, home mortgage, credit card, employment, inflation
   
Main
Personal Finance
Financial Economics
Financial Planning
Financial Times
Personal finance
Investment
Equity Investment
Pension
401k
Social security
Insurance
Wealth
Mortgage
Credit Card
Debit Card
Credit Repair
Debt Consolidation
Economics
Economics
Home Economics
Areas of Study in Economics
[Economics Education]


Economics is usually divided into two main branches:

Microeconomics, which deals with the behavior and interaction of individual agents and firms.
Macroeconomics, which examines an economy as a whole with a view to understanding the interaction between economic aggregates such as income, employment and inflation.
Attempts to join these two branches or to refute the distinction between them have been important motivators in much of recent economic thought, especially in the late 1970s and early 1980s. Today, the consensus view is arguably that good macroeconomics has solid microeconomic foundations i.e. its premises have support in microeconomics.

Within these major divisions there are specialized areas of study that try to answer questions on a broad spectrum of human economic activity (see below). There are also methodologies used by economists whose underlying theories are important. The most significant example may be econometrics, which applies statistical techniques to the study of economic data.

There has been an increasing trend for ideas and methods from economics to be applied in wider contexts. Since economics analysis focuses on decision making, it can be applied (with varying degrees of success) to any field where people are faced with alternatives - education, marriage, health, public policy, voting theory etc. Public Choice Theory studies how economic analysis can apply to those fields traditionally considered outside of economics. The areas of investigation in Economics therefore overlap with other social sciences, including political science and sociology.

This text from Wikipedia is licensed under the terms of the GNU Free Documentation License
This web site provides general information only, not legal advice. There is no guarantee that the information is accurate. You must read and agree to the Terms of Use before viewing this web site.

Copyright 2004 Personal-Finance WS

Personal Finance Map | Terms of Use | Privacy Policy