Young Economics

Mathematics, Economics and Business

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Economics - Social science that studies economic activity to gain an understanding of the processes that govern the production, distribution and consumption of goods and services in an exchange economy.
  • Macroeconomics - study aggregated indicators such as GDP, unemployment rates, and price indexes to understand how the whole economy functions
  • Monetary Economics - examines the effects of monetary systems, including regulation of money and associated financial institutions and international aspects.
  • Microeconomics - examines how decisions on the allocation of limited resources (scarcity) and behaviors affect the supply and demand for goods and services, which determines prices. The study includes general equilibrium, markets under asymmetric information, choice under uncertainty, game theory, and perfect competition.
  • Econometrics - adds empirical content to economic theory allowing theories to be tested and used for forecasting and policy evaluation. It is the intersection of economics, mathematics, and statistics.
economics/economics.txt · Last modified: 2016/09/23 09:16 by admin