Economics & economical sciences: The best concepts summarized

Economics & Economical Sciences: The best concepts summarized

Online flashcards with Economics & Economical Sciences

For 5+ flashcards and definitions with concepts of Economics & Economical Sciences, see supporting content

Economics
International economics
Development economics
Macroeconomics
Microeconomics
Behavioral economics
Corporate economics
Econometrics

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What is economics?

Economics is the social science concerned with how individuals, societies, and countries make choices under conditions of scarcity. It examines how resources are allocated, produced, distributed, and consumed. In essence, economics explores the intricate dance between limited resources and human wants and needs.

What are main features of economics?

Scarcity and Choice: This core principle underpins everything in

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What is international economics?

International economics delves into the economic interactions and relationships that transcend national borders. It examines how countries trade goods and services, invest in each other's economies, and manage their currencies in a globalized world. Here's a breakdown of this dynamic field:

What are the main features of international economics?

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What is development economics?

Development economics is a branch of economics that focuses on the economic challenges and opportunities faced by low- and middle-income countries. Its core objective is to understand the factors that drive economic growth, poverty reduction, and overall improvement in the well-being of people in these regions.

What are main features of development economics?

Focus on economic development: Analyzes the

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What is macroeconomics?

Macroeconomics focuses on the overall performance of an economy, examining factors that influence national and global economic trends. It takes a broad view, analyzing how these factors interact to determine economic growth, inflation, unemployment, and overall economic stability. Here's a breakdown of this crucial field:

What are the main features of macroeconomics?

Aggregate Analysis: Macroeconomics deals with aggregate

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What is behavioral economics?

Behavioral economics is a relatively young field that emerged in the latter half of the 20th century. It blends concepts from economics and psychology to understand how real people make decisions in the real world, often deviating from the assumptions of traditional economic models.

What are main features of behavioral economics?

Focus on bounded rationality: Behavioral economics acknowledges that

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What is corporate economics?

Corporate economics delves into the decision-making processes of firms, focusing on how they allocate resources, interact with markets, and ultimately aim to maximize shareholder value. It combines economic principles with practical business applications, bridging the gap between theory and real-world decision-making.

What are the key features of corporate economics?

Microeconomic Foundation: Rooted in microeconomic principles, corporate economics analyzes

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What is econometrics?

Econometrics is the branch of economics that applies statistical methods and data analysis to test economic theories and quantify economic relationships. It acts as a bridge between abstract economic models and the real-world complexities observed through data. Here's a breakdown of this crucial field:

What are the main features of econometrics?

Statistical Techniques: Econometrics utilizes various statistical tools

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