Economics

Countries by real GDP growth rate in 2016. Countries in red were in recession.

Economics (ə-/)[1][2][3] is the social science that studies the production, distribution, and consumption of goods and services.[4]

Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyzes basic elements in the economy, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the entire economy (meaning aggregated production, consumption, savings, and investment) and issues affecting it, including unemployment of resources (labour, capital, and land), inflation, economic growth, and the public policies that address these issues (monetary, fiscal, and other policies). See glossary of economics.

Other broad distinctions within economics include those between positive economics, describing "what is", and normative economics, advocating "what ought to be"; between economic theory and applied economics; between rational and behavioural economics; and between mainstream economics and heterodox economics.[5]

Term

The discipline was renamed in the late 19th century primarily due to Alfred Marshall from "political economy" to "economics" as a shorter term for "economic science". At that time, it became more open to rigorous thinking and made increased use of mathematics, which helped support efforts to have it accepted as a science and as a separate discipline outside of political science and other social sciences.[a][7][8][9] The ultimate goal of economics is to improve the living conditions of people in their everyday life.[10]

Economic analysis can be applied throughout society, in business, finance, health care, and government. Economic analysis is sometimes also applied to such diverse subjects as crime, education,[11] the family, law, politics, religion,[12] social institutions, war,[13] science,[14] and the environment.[15]

Other Languages
Afrikaans: Ekonomie
አማርኛ: ሥነ ንዋይ
العربية: اقتصاد (علم)
aragonés: Economía
অসমীয়া: অৰ্থনীতি
asturianu: Economía
azərbaycanca: İqtisadi nəzəriyyə
bamanankan: Nafasorosira
বাংলা: অর্থনীতি
Bahasa Banjar: Ikunumi
Bân-lâm-gú: Keng-chè-ha̍k
Basa Banyumasan: Ekonomi
башҡортса: Иҡтисад (фән)
беларуская: Эканоміка
беларуская (тарашкевіца)‎: Эканоміка
bosanski: Ekonomija
brezhoneg: Armerzh
буряад: Эдэй засаг
Чӑвашла: Экономика
Cebuano: Ekonomiks
čeština: Ekonomie
Chamoru: Ekonomia
chiShona: Ronzanzanga
corsu: Ecunumia
Cymraeg: Economeg
Ελληνικά: Οικονομικά
Esperanto: Ekonomiko
estremeñu: Economia
euskara: Ekonomia
Fiji Hindi: Arthsaastr
føroyskt: Búskapur
Frysk: Ekonomy
furlan: Economie
Gaeilge: Eacnamaíocht
Gaelg: Tarmaynys
Gàidhlig: Eaconomachd
galego: Economía
贛語: 經濟學
गोंयची कोंकणी / Gõychi Konknni: अर्थशास्त्र
客家語/Hak-kâ-ngî: Kîn-chi-ho̍k
한국어: 경제학
hrvatski: Ekonomija
Ilokano: Ekonomika
Bahasa Indonesia: Ilmu ekonomi
interlingua: Economia
Interlingue: Economie
íslenska: Hagfræði
עברית: כלכלה
Basa Jawa: Ékonomi
ქართული: ეკონომიკა
kaszëbsczi: Ekònomijô
Kiswahili: Somo la Uchumi
Kreyòl ayisyen: Ekonomi
kurdî: Aborî
Кыргызча: Экономика
Ladino: Ekonomiya
Latina: Oeconomica
latviešu: Ekonomika
Lëtzebuergesch: Ekonomie
lietuvių: Ekonomika
Ligure: Economìa
Limburgs: Economie
la .lojban.: dinske
македонски: Економија
Malagasy: Toe-karena
მარგალური: ეკონომიკა
Bahasa Melayu: Ekonomi
Mirandés: Eiquenomie
မြန်မာဘာသာ: ဘောဂဗေဒ
Nederlands: Economie
Nedersaksies: Ekonomie
नेपाल भाषा: अर्थशास्त्र
日本語: 経済学
norsk nynorsk: Samfunnsøkonomi
Nouormand: Êcononmie
Novial: Ekonomike
occitan: Economia
Oromoo: Dinagdee
oʻzbekcha/ўзбекча: Iqtisodiyot
ਪੰਜਾਬੀ: ਅਰਥਸ਼ਾਸਤਰ
پنجابی: اکنامکس
Patois: Ikanamix
ភាសាខ្មែរ: សេដ្ឋកិច្ច
Piemontèis: Conomìa
Tok Pisin: Ikonimikis
polski: Ekonomia
português: Economia
Qaraqalpaqsha: Ekonomika
Runa Simi: Musiku
русиньскый: Економия
саха тыла: Экономика
ᱥᱟᱱᱛᱟᱲᱤ: ᱠᱟᱹᱣᱰᱤ ᱟᱹᱨᱤ
Gagana Samoa: Economics
sardu: Economia
Scots: Economics
Seeltersk: Wirtskup
Sesotho sa Leboa: Thutothuo
shqip: Ekonomia
sicilianu: Ecunumìa
Simple English: Economics
slovenčina: Ekonómia
slovenščina: Ekonomija
Soomaaliga: Dhaqaale
српски / srpski: Економија
srpskohrvatski / српскохрватски: Ekonomija
Basa Sunda: Ékonomi
Tagalog: Ekonomika
татарча/tatarça: Икътисад (фән)
тоҷикӣ: Иқтисод
Thuɔŋjäŋ: Piöcmääcëkäŋ
українська: Економіка
اردو: معاشیات
ئۇيغۇرچە / Uyghurche: ئىقتىسادشۇناسلىق
vèneto: Economia
vepsän kel’: Ekonomik (tedo)
Tiếng Việt: Kinh tế học
Volapük: Konömav
walon: Economeye
文言: 計學
Wolof: Koom-koom
吴语: 經濟學
ייִדיש: עקאנאמיק
粵語: 經濟學
Zazaki: İqtısad
Zeêuws: Economie
žemaitėška: Akuonuomėka
中文: 经济学
Lingua Franca Nova: Economia