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The term economics comes from the Ancient Greek ??????µ?a (oikonomia, "management of a household, administration") from ????? (oikos, "house") + ??µ?? (nomos, "custom" or "law"), hence "rules of the house(hold)".[1] 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.[2] 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."[3] 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.
Economics aims to explain how economies work and how economic agents interact. Economic analysis is applied throughout society, in business and finance but also in crime,[4] education,[5] the family, health, law, politics, religion,[6] social institutions, and war.[7] This dominating effect of economics on the social sciences has been described as economic imperialism.[8][9]
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Economics Subcategories
Economics Articles
US Recession Inevitable?
by Dane Smith
Jan 24, 2008
As the sub-prime mortgage scandal continues to play out badly for many US companies, more and more questions have been raised as to whether the impact of a slowdown in one area will translate into a nationwide, or even global, recession. Growth prosp...
Learn How Economics Affects Stocks
by Anthony Green
Jan 04, 2008
Economics. Double ugh! No, you aren’t required to understand “the inelasticity of demand aggregates” or “marginal utility”. But a working knowledge of basic economics is crucial to your success and proficiency as a stock investor. The stock market an...
Stockstutor
by hameed quadir
Jan 01, 2008
Stockstutor is the leading stock based website which includes investing & trading,economics & finance and complete stock portal. The mission of stockstutor.com is to provide our audience with what’s relevant behind and beyond the headline. Stockstu...
The 7 Immutable Laws of Building "True Wealth"
by Marlon Broussard
Sep 02, 2007
Wealth – (old English) from weal - "Well-being," O.E. wela "wealth," in late O.E. also "welfare, well-being," from W.Gmc. *welon, from PIE base *wel- "to wish, will" (see will (v.)). Related to well (adv.). - Online Etymology Dictionary, © 2001...
Understanding The Basic Finance Options
by tonypsc art
Jun 27, 2007
When it comes to getting your finances in order, it is a good idea to understand a little about all the tools that you have at your disposal. Here are a few reminders of the several different ways you can gather support and information to help you ma...
The US Social Security System: Analysis & Commentary
by Johnny Fuery
Feb 22, 2007
The US Social Security System: Analysis & Commentary © 2006 by Johnny Fuery Originally published at fuery.com on 5/2006. This article is freely dist...
New Chinese Investment Rules Spur Economic Growth In Region
by Murad Ali
Jan 02, 2007
China stocks soared after mainland authorities announced progressive rules in order to increase access of Chinese entities to foreign investments. The new rules will help individuals, investment firms, financial houses and banks to invest in foreign ...
How Social Forces affect the Property Market
by Adrian Hudson
Nov 13, 2006
Introduction In the UK property prices have seen phenomenal growth in recent years, largely due to a sustained period of low interest rates, which enables homebuyers to borrow more, low unemployment and robust earnings growth. But bubb...
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