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Economics is the social science that analyzes the production, distribution, and consumption of goods and services. 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]

Economics aims to explain how economies work and how economic agents interact. Economic analysis is applied throughout society, in business, finance and government, but also in crime,^[3] education,^[4] the family, health, law, politics, religion,^[5] social institutions, war,^[6] and science.^[7] The expanding domain of economics in the social sciences has been described as economic imperialism.^[8]

Common distinctions are drawn between various dimensions of economics. The primary textbook distinction is between microeconomics, which examines the behavior of basic elements in the economy, including individual markets and agents (such as consumers and firms, buyers and sellers), and macroeconomics, which addresses issues affecting an entire economy, including unemployment, inflation, economic growth, and monetary and fiscal policy. Other distinctions include between positive economics (describing "what is") and normative economics (advocating "what ought to be"); between economic theory and applied economics; between mainstream economics (more "orthodox" dealing with the "rationality-individualism-equilibrium nexus") and heterodox economics (more "radical" dealing with the "institutions-history-social structure nexus"^[9]); and between rational and behavioral economics.

Microeconomics, like macroeconomics, is a fundamental method for analyzing the economy as a system. It treats households and firms interacting through individual markets as irreducible elements of the economy, given scarcity and government regulation. A market might be for a product, say fresh corn, or the services of a factor of production, say bricklaying. The theory considers aggregates of quantity demanded by buyers and quantity supplied by sellers at each possible price per unit. It weaves these together to describe how the market may reach equilibrium as to price and quantity or respond to market changes over time.

Economics Subcategories Economics Articles The Truth about the Credit Crunch by Christopher Music WAA Oct 29, 2009 Revisiting the Debt-to-Income Ratio Rule If you have ever applied for a mortgage, you may well have wondered about where that “28/36 debt-to-income ratio rule” came from that the mortgage broker talked to you about….and whether it even makes ... Causative Factors for the Devaluation of US Currency by Thomas Sullivan Oct 15, 2009 In this article we examine the most important causative factors which have contributed to the fall in value of the US currency. What our research has found is that while there are variable opinions as to why we have seen massive devaluation of the US... REAL ESTATE AND INDIAN ECONOMY by subhrajit panda Oct 05, 2009 Real estate economics is the application of economic techniques to real estate markets. It tries to describe, explain, and predict patterns of real estate prices, building production, and real estate consumption. The closely related field of housing ... How Local Elections can Dictate the Value of your Home by Brian S. Icenhower Oct 02, 2009 With local elections on the horizon, it is essential to understand the significant impact that our newly elected leaders will have on real estate values in our area. Most individuals consider housing, or shelter, to be a necessity item on par with es... The Economy's Impact on Senior Housing Trends by Brian S. Icenhower Aug 14, 2009 The United States Census Bureau has reported that a third of the country’s population will be 50 years or older by the year 2010. Accordingly, a 2009 study conducted jointly by the National Association of Home Builders (NAHB) and the MetLife Mature M... Insufficient money supply looks like delaying economic recovery in the UK by tug search Aug 10, 2009 Vicky Redwood, economist at Capital Economics, suggested that GDP growth would remain 'sluggish' following the recession, if credit flows do not improve from their current level. The comments follow the release of M4 data for the year to June... Internet Marketers Thrive and Survive The Recession by Bernadene Morgan Aug 06, 2009 The fastest way to learn about global economics is to start doing your research in the Internet based business working from home arena. How can anyone make money, let alone millions in a recession? And this recession is not just any recession, and t... Economics and Our Current Situation by Stewart Engelman Aug 06, 2009 This article deals with disagreement among economic theories regarding how best to manage the economy from a monetary and fiscal point of view. Clearly they can't all be right, because there are so many contradictory positions. ... How to Strive in a Recession by Tom Howell Aug 03, 2009 I've noticed that there are some people who complete ignore the media. They succeed no matter what the economy's status. I've also noticed there are millions that take all this recession talk to heart and go bankrupt. Of course the opposite was als... "Mann International"- International Economics-(US Housing Still Mired) by Erica Reardon Jul 27, 2009 “Mann International”: Positive news on US housing starts and permits is irrelevant. “Mann International” the Asian-based investment broker is reportedly voicing its amazement at the market’s interpretation of “positive” US housing starts and...