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{April 19, 2014}  

Anantya Putri Ardyafani / 10611697 / 3SA04

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Economics

550px-GDP_growth_(annualized)

 

 

 

 

 

A world map of GDP growth (annualized), from 1990 to 2007.

 

Economics is the social science that studies the behavior of individuals, households, and organizations (called economic actors, players, or agents), when they manage or use scarce resources, which have alternative uses, to achieve desired ends. Agents are assumed to act rationally, have multiple desirable ends in sight, limited resources to obtain these ends, a set of stable preferences, a definite overall guiding objective, and the capability of making a choice. There exists an economic problem, subject to study by economic science, when a decision (choice) has to be made by one or more resource-controlling players to attain the best possible outcome under bounded rational conditions. In other words, resource-controlling agents must maximize value subject to the constraints imposed by the information the agents have, their cognitive limitations, and the finite amount of time they have to make and execute a decision. Economic science centers on the activities of the economic agents that comprise society. They are the focus of economic analysis.
The traditional concern of economics is to gain an understanding of the processes that govern the production, distribution and consumption of goods and services in an exchange economy. An agent may have purposes or ends, such as reducing or protecting individuals from crime, on which he or she wants to spend resources. Economics may study how the agent determines the amount of resources to allocate for this purpose, aside from the traditional concern of economics.
An approach to understanding the processes of production, distribution, and consumption, through the study of agent behavior under scarcity, may go as follows: The continuous interplay (exchange or trade) done by economic actors in all markets sets the prices for all goods and services which, in turn, make the rational managing of scarce resources possible. At the same time, the decisions (choices) made by the same actors, while they are pursuing their own interest (their overall guiding objective), determine the level of output (production), consumption, savings, and investment, in an economy, as well as the remuneration (distribution) paid to the owners of labor (in the form of wages), capital (in the form of profits) and land (in the form of rent). Each period, as if they were in a giant feedback system, economic players influence the pricing processes and the economy, and are in turn influenced by them until a steady state (equilibrium) of all variables involved is reached or until an external shock throws the system toward a new equilibrium point. Because of the autonomous actions of rational interacting agents, the economy is a complex adaptive system.
The term economics comes from the Ancient Greek οἰκονομία (oikonomia, “management of a household, administration”) from οἶκος (oikos, “house”) and νόμος (nomos, “custom” or “law”), hence “rules of the house(hold for good management)”. ‘Political economy’ was the earlier name for the subject, but economists in the late 19th century suggested “economics” as a shorter term for “economic science” to establish itself as a separate discipline outside of political science and other social sciences.
Economics focuses on the behavior and interactions of economic agents and how economies work. Consistent with this focus, primary textbooks often distinguish between microeconomics and macroeconomics. Microeconomics examines the behavior of 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 (labor, capital, and land), inflation, economic growth, and the public policies that address these issues (monetary, fiscal, and other policies).
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 behavioral economics; and between mainstream economics (more “orthodox” and dealing with the “rationality-individualism-equilibrium nexus”) and heterodox economics (more “radical” and dealing with the “institutions-history-social structure nexus”).
Besides the traditional concern in production, distribution, and consumption in an economy, economic analysis may be applied throughout society, as in business, finance, health care, and government. Economic analyses may also be applied to such diverse subjects as crime, education, the family, law, politics, religion, social institutions, war, and science; by considering the economic aspects of these subjects. Education, for example, requires time, effort, and expenses, plus the foregone income and experience, yet these losses can be weighted against future benefits education may bring to the agent or the economy. At the turn of the 21st century, the expanding domain of economics in the social sciences has been described as economic imperialism.

 

Definitions

550px-Map_of_countries_by_GDP_(nominal)_in_US$

 

 

 

 

 

A map of world economies by size of GDP (nominal) in $US, CIA World Factbook, 2011.

 

There are a variety of modern definitions of economics. Some of the differences may reflect evolving views of the subject or different views among economists. Scottish philosopher Adam Smith (1776) defined what was then called political economy as “an inquiry into the nature and causes of the wealth of nations”, in particular as:
a branch of the science of a statesman or legislator [with the twofold objectives of providing] a plentiful revenue or subsistence for the people … [and] to supply the state or commonwealth with a revenue for the publick services.
J.-B. Say (1803), distinguishing the subject from its public-policy uses, defines it as the science of production, distribution, and consumption of wealth. On the satirical side, Thomas Carlyle (1849) coined “the dismal science” as an epithet for classical economics, in this context, commonly linked to the pessimistic analysis of Malthus (1798). John Stuart Mill (1844) defines the subject in a social context as:
The science which traces the laws of such of the phenomena of society as arise from the combined operations of mankind for the production of wealth, in so far as those phenomena are not modified by the pursuit of any other object.
Alfred Marshall provides a still widely cited definition in his textbook Principles of Economics (1890) that extends analysis beyond wealth and from the societal to the microeconomic level:
Economics is a study of man in the ordinary business of life. It enquires how he gets his income and how he uses it. Thus, it is on the one side, the study of wealth and on the other and more important side, a part of the study of man.
Lionel Robbins (1932) developed implications of what has been termed “[p]erhaps the most commonly accepted current definition of the subject”:
Economics is a science which studies human behaviour as a relationship between ends and scarce means which have alternative uses.
Robbins describes the definition as not classificatory in “pick[ing] out certain kinds of behaviour” but rather analytical in “focus[ing] attention on a particular aspect of behaviour, the form imposed by the influence of scarcity.” He affirmed that previous economist have usually centered their studies on the analysis of wealth: how wealth is created (production), distributed, and consumed; and how wealth can grow. But he said that economics can be used to study other things, such as war, that are outside its usual focus. This is because war has as the goal wining it (as a sought after end), generates both cost and benefits; and, resources (human life and other costs) are used to attain the goal. If the war is not winnable or if the expected costs outweigh the benefits, the deciding actors (assuming they are rational) may never go to war (a decision) but rather explore other alternatives. We cannot define economics as the science that study wealth, war, crime, education, and any other field economic analysis can be applied to; but, as the science that study a particular common aspect of each of those subjects (they all use scarce resources to attain a sought after end).
Some subsequent comments criticized the definition as overly broad in failing to limit its subject matter to analysis of markets. From the 1960s, however, such comments abated as the economic theory of maximizing behavior and rational-choice modeling expanded the domain of the subject to areas previously treated in other fields. There are other criticisms as well, such as in scarcity not accounting for the macroeconomics of high unemployment.
Gary Becker, a contributor to the expansion of economics into new areas, describes the approach he favors as “combin[ing the] assumptions of maximizing behavior, stable preferences, and market equilibrium, used relentlessly and unflinchingly.” One commentary characterizes the remark as making economics an approach rather than a subject matter but with great specificity as to the “choice process and the type of social interaction that [such] analysis involves.” The same source reviews a range of definitions included in principles of economics textbooks and concludes that the lack of agreement need not affect the subject-matter that the texts treat. Among economists more generally, it argues that a particular definition presented may reflect the direction toward which the author believes economics is evolving, or should evolve.

Sumber :

http://www.google.co.id/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&ved=0CDQQFjAA&url=http%3A%2F%2Fen.wikipedia.org%2Fwiki%2FEconomics&ei=UGpFU8m4MYmulQXjhoDwCQ&usg=AFQjCNEllQS_52YcNz89BLy-kSzawWgNxg

 

Economics and Definitions

 

English
Economics is the social science that studies the behavior of individuals, households, and organizations (called economic actors, players, or agents), when they manage or use scarce resources, which have alternative uses, to achieve desired ends.

Indonesia
Ekonomi adalah ilmu sosial yang mempelajari perilaku individu, rumah tangga, dan organisasi (disebut pelaku ekonomi, pemain, atau agen), ketika mereka mengelola atau menggunakan sumber daya yang langka, yang memiliki kegunaan alternatif, untuk mencapai tujuan yang diinginkan.

Agents are assumed to act rationally, have multiple desirable ends in sight, limited resources to obtain these ends, a set of stable preferences, a definite overall guiding objective, and the capability of making a choice.

Agen diasumsikan bertindak rasional, memiliki beberapa tujuan yang diinginkan terlihat, sumber daya yang terbatas untuk memperoleh tujuan ini, satu set preferensi yang stabil, tujuan keseluruhan membimbing pasti, dan kemampuan membuat pilihan.

There exists an economic problem, subject to study by economic science, when a decision (choice) has to be made by one or more resource-controlling players to attain the best possible outcome under bounded rational conditions.

Ada masalah ekonomi, tunduk pada belajar dengan ilmu ekonomi, ketika keputusan (pilihan) harus dibuat oleh satu atau lebih sumber daya mengendalikan pemain untuk mencapai hasil terbaik dalam kondisi rasional dibatasi.

In other words, resource-controlling agents must maximize value subject to the constraints imposed by the information the agents have, their cognitive limitations, and the finite amount of time they have to make and execute a decision.

Dengan kata lain, agen sumber daya mengendalikan harus memaksimalkan nilai tunduk pada batasan yang dikenakan oleh informasi agen miliki, keterbatasan kognitif mereka, dan jumlah waktu yang terbatas mereka harus membuat dan melaksanakan keputusan.

Economic science centers on the activities of the economic agents that comprise society.

Ilmu ekonomi berpusat pada kegiatan pelaku ekonomi yang terdiri dari masyarakat.

They are the focus of economic analysis.

Mereka adalah fokus dari analisis ekonomi.

The traditional concern of economics is to gain an understanding of the processes that govern the production, distribution and consumption of goods and services in an exchange economy.

Perhatian tradisional ekonomi adalah untuk memperoleh pemahaman tentang proses yang mengatur produksi, distribusi dan konsumsi barang dan jasa dalam perekonomian pertukaran.

An agent may have purposes or ends, such as reducing or protecting individuals from crime, on which he or she wants to spend resources.

Seorang agen mungkin memiliki maksud atau tujuan, seperti mengurangi atau melindungi individu dari kejahatan, di mana ia ingin menghabiskan sumber daya.

Economics may study how the agent determines the amount of resources to allocate for this purpose, aside from the traditional concern of economics.

Ekonomi dapat mempelajari bagaimana agen menentukan jumlah sumber daya untuk mengalokasikan untuk tujuan ini, selain dari keprihatinan tradisional ekonomi.

An approach to understanding the processes of production, distribution, and consumption, through the study of agent behavior under scarcity, may go as follows: The continuous interplay (exchange or trade) done by economic actors in all markets sets the prices for all goods and services which, in turn, make the rational managing of scarce resources possible.

Sebuah pendekatan untuk memahami proses produksi, distribusi, dan konsumsi, melalui studi perilaku agen di bawah kelangkaan, mungkin pergi sebagai berikut: Interaksi terus menerus (pertukaran atau perdagangan) yang dilakukan oleh pelaku ekonomi di semua pasar menetapkan harga untuk semua barang dan layanan yang, pada gilirannya, membuat pengelolaan rasional sumber daya yang langka mungkin.

At the same time, the decisions (choices) made by the same actors, while they are pursuing their own interest (their overall guiding objective), determine the level of output (production), consumption, savings, and investment, in an economy, as well as the remuneration (distribution) paid to the owners of labor (in the form of wages), capital (in the form of profits) and land (in the form of rent).

Pada saat yang sama, keputusan (pilihan) yang dibuat oleh aktor yang sama, sementara mereka mengejar kepentingan mereka sendiri (tujuan membimbing mereka secara keseluruhan), menentukan tingkat output (produksi), konsumsi, tabungan, dan investasi, dalam suatu perekonomian, serta remunerasi (distribusi) yang dibayarkan kepada pemilik tenaga kerja (dalam bentuk upah), modal (dalam bentuk keuntungan) dan tanah (dalam bentuk sewa).

Each period, as if they were in a giant feedback system, economic players influence the pricing processes and the economy, and are in turn influenced by them until a steady state (equilibrium) of all variables involved is reached or until an external shock throws the system toward a new equilibrium point.

Setiap periode, seolah-olah mereka berada di sistem umpan balik raksasa, pelaku ekonomi mempengaruhi proses penetapan harga dan ekonomi, dan pada gilirannya dipengaruhi oleh mereka sampai keadaan stabil (equilibrium) dari semua variabel yang terlibat tercapai atau sampai guncangan eksternal melempar sistem menuju titik ekuilibrium baru.

Because of the autonomous actions of rational interacting agents, the economy is a complex adaptive system.

Karena tindakan otonom agen berinteraksi rasional, ekonomi adalah sistem adaptif yang kompleks.

The term economics comes from the Ancient Greek οἰκονομία (oikonomia, “management of a household, administration”) from οἶκος (oikos, “house”) and νόμος (nomos, “custom” or “law”), hence “rules of the house(hold for good management)”.

Ekonomi istilah berasal dari οἰκονομία Yunani kuno (oikonomia, “manajemen rumah tangga, administrasi”) dari οἶκος (oikos, “rumah”) dan νόμος (nomos, “kebiasaan” atau “hukum”), maka “aturan rumah (berlaku untuk manajemen yang baik) “.

‘Political economy’ was the earlier name for the subject, but economists in the late 19th century suggested “economics” as a shorter term for “economic science” to establish itself as a separate discipline outside of political science and other social sciences.

‘Ekonomi Politik’ adalah nama awal untuk subjek, tetapi ekonom pada akhir abad ke-19 menyarankan “ekonomi” sebagai istilah yang lebih pendek untuk “ilmu ekonomi” untuk membangun dirinya sebagai disiplin yang terpisah di luar ilmu politik dan ilmu sosial lainnya.

Economics focuses on the behavior and interactions of economic agents and how economies work.

Ekonomi berfokus pada perilaku dan interaksi agen-agen ekonomi dan bagaimana ekonomi bekerja.

Consistent with this focus, primary textbooks often distinguish between microeconomics and macroeconomics.

Konsisten dengan fokus ini, buku teks primer sering membedakan antara mikroekonomi dan makroekonomi.

Microeconomics examines the behavior of basic elements in the economy, including individual agents and markets, their interactions, and the outcomes of interactions.

Ekonomi mikro meneliti perilaku unsur-unsur dasar dalam perekonomian, termasuk agen individual dan pasar, interaksi mereka, dan hasil dari interaksi.

Individual agents may include, for example, households, firms, buyers, and sellers.

Setiap agen dapat mencakup, misalnya, rumah tangga, perusahaan, pembeli, dan penjual.

Macroeconomics analyzes the entire economy (meaning aggregated production, consumption, savings, and investment) and issues affecting it, including unemployment of resources (labor, capital, and land), inflation, economic growth, and the public policies that address these issues (monetary, fiscal, and other policies).

Makroekonomi menganalisis seluruh perekonomian (yang berarti produksi agregat, konsumsi, tabungan, dan investasi) dan isu-isu yang mempengaruhi itu, termasuk pengangguran sumber daya (tenaga kerja, modal, dan tanah), inflasi, pertumbuhan ekonomi, dan kebijakan publik yang mengatasi masalah ini (moneter , fiskal, dan kebijakan lainnya).

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 behavioral economics; and between mainstream economics (more “orthodox” and dealing with the “rationality-individualism-equilibrium nexus”) and heterodox economics (more “radical” and dealing with the “institutions-history-social structure nexus”).

Perbedaan luas lainnya dalam ekonomi termasuk yang antara ekonomi positif, menggambarkan “apa yang ada,” dan ekonomi normatif, menganjurkan “apa yang seharusnya”; antara teori ekonomi dan ekonomi terapan; antara ekonomi rasional dan perilaku; dan antara ekonomi arus utama (lebih “ortodoks” dan berurusan dengan “rasionalitas-individualisme-equilibrium perhubungan”) dan ekonomi heterodoks (lebih “radikal” dan berurusan dengan “lembaga-sejarah sosial struktur perhubungan”).

Besides the traditional concern in production, distribution, and consumption in an economy, economic analysis may be applied throughout society, as in business, finance, health care, and government.

Selain keprihatinan tradisional dalam produksi, distribusi, dan konsumsi dalam perekonomian, analisis ekonomi dapat diterapkan seluruh masyarakat, seperti dalam bisnis, keuangan, kesehatan, dan pemerintah.

Economic analyses may also be applied to such diverse subjects as crime, education, the family, law, politics, religion, social institutions, war, and science; by considering the economic aspects of these subjects.

Analisis ekonomi juga dapat diterapkan pada mata pelajaran yang beragam seperti kejahatan, pendidikan, keluarga, hukum, politik, agama, lembaga sosial, perang, dan ilmu pengetahuan; dengan mempertimbangkan aspek ekonomi dari mata pelajaran ini.

Education, for example, requires time, effort, and expenses, plus the foregone income and experience, yet these losses can be weighted against future benefits education may bring to the agent or the economy.

Pendidikan, misalnya, membutuhkan waktu, tenaga, dan biaya, ditambah pendapatan terdahulu dan pengalaman, namun kerugian ini dapat tertimbang terhadap pendidikan manfaat masa depan dapat membawa ke agen atau ekonomi.

At the turn of the 21st century, the expanding domain of economics in the social sciences has been described as economic imperialism.
There are a variety of modern definitions of economics.

Pada pergantian abad ke-21, domain memperluas ekonomi dalam ilmu sosial telah digambarkan sebagai imperialisme ekonomi.
Ada berbagai definisi modern ekonomi.

Some of the differences may reflect evolving views of the subject or different views among economists.

Beberapa perbedaan mungkin mencerminkan berkembang dilihat dari pandangan subjek atau berbeda di kalangan ekonom.

Scottish philosopher Adam Smith (1776) defined what was then called political economy as “an inquiry into the nature and causes of the wealth of nations”, in particular as:
a branch of the science of a statesman or legislator [with the twofold objectives of providing] a plentiful revenue or subsistence for the people … [and] to supply the state or commonwealth with a revenue for the publick services.

Filsuf Skotlandia Adam Smith (1776) mendefinisikan apa yang kemudian disebut ekonomi politik sebagai “penyelidikan sifat dan penyebab dari kekayaan bangsa-bangsa”, khususnya sebagai:
cabang dari ilmu seorang negarawan atau legislator [dengan tujuan ganda memberikan] pendapatan berlimpah atau subsistensi bagi orang-orang … [dan] untuk memasok negara persemakmuran atau dengan pendapatan untuk layanan di muka umum.

J.-B. Say (1803), distinguishing the subject from its public-policy uses, defines it as the science of production, distribution, and consumption of wealth.

J.-B. Katakanlah (1803), membedakan subjek dari penggunaan publik-kebijakan, mendefinisikan sebagai ilmu produksi, distribusi, dan konsumsi kekayaan.

On the satirical side, Thomas Carlyle (1849) coined “the dismal science” as an epithet for classical economics, in this context, commonly linked to the pessimistic analysis of Malthus (1798).

Di sisi satir, Thomas Carlyle (1849) diciptakan “ilmu suram” sebagai julukan untuk ekonomi klasik, dalam konteks ini, sering dikaitkan dengan analisis pesimis dari Malthus (1798).

John Stuart Mill (1844) defines the subject in a social context as:
The science which traces the laws of such of the phenomena of society as arise from the combined operations of mankind for the production of wealth, in so far as those phenomena are not modified by the pursuit of any other object.
Alfred Marshall provides a still widely cited definition in his textbook Principles of Economics (1890) that extends analysis beyond wealth and from the societal to the microeconomic level:
Economics is a study of man in the ordinary business of life. It enquires how he gets his income and how he uses it. Thus, it is on the one side, the study of wealth and on the other and more important side, a part of the study of man.

John Stuart Mill (1844) mendefinisikan subjek dalam konteks sosial sebagai:
Ilmu yang menelusuri hukum seperti fenomena masyarakat sebagai timbul dari operasi gabungan umat manusia untuk produksi kekayaan, sejauh fenomena tidak dimodifikasi oleh mengejar benda lainnya.
Alfred Marshall memberikan definisi masih banyak dikutip dalam buku teks-nya Prinsip Ekonomi (1890) yang memperluas analisis melampaui kekayaan dan dari masyarakat ke tingkat ekonomi mikro:
Ekonomi adalah studi tentang manusia dalam kehidupan bisnis biasa. Ini bertanya bagaimana dia mendapat penghasilan dan bagaimana ia menggunakannya. Dengan demikian, di satu sisi, studi tentang kekayaan dan di sisi lain dan yang lebih penting, bagian dari studi manusia.

Lionel Robbins (1932) developed implications of what has been termed “[p]erhaps the most commonly accepted current definition of the subject”:
Economics is a science which studies human behaviour as a relationship between ends and scarce means which have alternative uses.

Lionel Robbins (1932) mengembangkan implikasi dari apa yang telah disebut “[p] erhaps definisi saat ini paling umum diterima subjek”:
Ekonomi adalah ilmu yang mempelajari perilaku manusia sebagai hubungan antara tujuan dan sarana langka yang memiliki kegunaan alternatif.

Robbins describes the definition as not classificatory in “pick[ing] out certain kinds of behaviour” but rather analytical in “focus[ing] attention on a particular aspect of behaviour, the form imposed by the influence of scarcity.”

Robbins menjelaskan definisi tidak klasifikasi dalam “memilih [ing] keluar jenis perilaku tertentu” melainkan analitis dalam “fokus [ing] perhatian pada aspek tertentu dari perilaku, bentuk yang dikenakan oleh pengaruh kelangkaan.”

He affirmed that previous economist have usually centered their studies on the analysis of wealth: how wealth is created (production), distributed, and consumed; and how wealth can grow.

Ia menegaskan bahwa ekonom sebelumnya biasanya berpusat studi mereka pada analisis kekayaan: bagaimana kekayaan diciptakan (produksi), didistribusikan, dan dikonsumsi; dan bagaimana kekayaan dapat tumbuh.

But he said that economics can be used to study other things, such as war, that are outside its usual focus.

Namun dia mengatakan bahwa ekonomi dapat digunakan untuk mempelajari hal-hal lain, seperti perang, yang berada di luar fokus biasa.

This is because war has as the goal wining it (as a sought after end), generates both cost and benefits; and, resources (human life and other costs) are used to attain the goal.

Hal ini karena perang memiliki sebagai tujuan wining itu (sebagai dicari akhir), menghasilkan biaya dan manfaat; dan, sumber daya (kehidupan manusia dan biaya lainnya) yang digunakan untuk mencapai tujuan.

If the war is not winnable or if the expected costs outweigh the benefits, the deciding actors (assuming they are rational) may never go to war (a decision) but rather explore other alternatives.

Jika perang tidak dapat dimenangkan atau jika biaya yang diharapkan lebih besar daripada manfaat, aktor memutuskan (dengan asumsi mereka rasional) mungkin tidak pernah pergi berperang (keputusan) melainkan mengeksplorasi alternatif lainnya.

We cannot define economics as the science that study wealth, war, crime, education, and any other field economic analysis can be applied to; but, as the science that study a particular common aspect of each of those subjects (they all use scarce resources to attain a sought after end).

Kita tidak bisa mendefinisikan ekonomi sebagai ilmu yang mempelajari kekayaan, perang, kejahatan, pendidikan, dan bidang lain analisis ekonomi dapat diterapkan; tetapi, sebagai ilmu yang mempelajari aspek umum tertentu dari masing-masing mata pelajaran (mereka semua menggunakan sumber daya yang langka untuk mencapai dicari akhir).

Some subsequent comments criticized the definition as overly broad in failing to limit its subject matter to analysis of markets.

Beberapa komentar selanjutnya mengkritik definisi sebagai terlalu luas dalam gagal untuk membatasi materi pelajaran untuk analisis pasar.

From the 1960s, however, such comments abated as the economic theory of maximizing behavior and rational-choice modeling expanded the domain of the subject to areas previously treated in other fields.

Dari tahun 1960-an, bagaimanapun, komentar seperti mereda sebagai teori ekonomi memaksimalkan perilaku dan pemodelan rasional-pilihan memperluas domain subjek ke daerah-daerah yang sebelumnya dirawat di bidang lain.

There are other criticisms as well, such as in scarcity not accounting for the macroeconomics of high unemployment.

Ada kritik lain juga, seperti kelangkaan tidak akuntansi untuk ekonomi makro pengangguran tinggi.

Gary Becker, a contributor to the expansion of economics into new areas, describes the approach he favors as “combin[ing the] assumptions of maximizing behavior, stable preferences, and market equilibrium, used relentlessly and unflinchingly.”

Gary Becker, kontributor untuk ekspansi ekonomi ke daerah baru, menggambarkan pendekatan yang nikmat sebagai “combin [ing] asumsi perilaku memaksimalkan, preferensi yang stabil, dan keseimbangan pasar, digunakan tanpa henti dan tanpa berkedip.”

One commentary characterizes the remark as making economics an approach rather than a subject matter but with great specificity as to the “choice process and the type of social interaction that [such] analysis involves.”

Satu komentar mencirikan pernyataan itu sebagai membuat ekonomi pendekatan daripada materi pelajaran tetapi dengan kekhususan besar untuk “proses pilihan dan jenis interaksi sosial yang [seperti] analisis melibatkan.”

The same source reviews a range of definitions included in principles of economics textbooks and concludes that the lack of agreement need not affect the subject-matter that the texts treat.

Sumber yang sama ulasan berbagai definisi yang termasuk dalam prinsip-prinsip buku teks ekonomi dan menyimpulkan bahwa kurangnya kesepakatan tidak perlu mempengaruhi subyek bahwa teks mengobati.

Among economists more generally, it argues that a particular definition presented may reflect the direction toward which the author believes economics is evolving, or should evolve.

Di antara ekonom lebih umum, ia berargumen bahwa definisi tertentu yang disajikan mungkin mencerminkan arah ke arah mana penulis percaya ekonomi berkembang, atau harus berkembang.

Dini Alamanda / 12611153 / 3SA04

Komunikasi Bisnis #

Microeconomics
Main article: Microeconomics

Markets
Main article: Markets

250px-Ballard_Farmers'_Market_-_vegetables

Economists study trade, production and consumption decisions, such as those that occur in a traditional marketplace.

250px-Sao_Paulo_Stock_Exchange

In Virtual Markets, buyer and seller are not present and trade via intermediates and electronic information. Pictured: São Paulo Stock Exchange.
Microeconomics examines how entities, forming a market structure, interact within a market to create a market system. These entities include private and public players with various classifications, typically operating under scarcity of tradeable units and government regulation. The item traded may be a tangible product such as apples or a service such as repair services, legal counsel, or entertainment.
In theory, in a free market the aggregates (sum of) of quantity demanded by buyers and quantity supplied by sellers will be equal and reach economic equilibrium over time in reaction to price changes; in practice, various issues may prevent equilibrium, and any equilibrium reached may not necessarily morally equitable. For example, if the supply of healthcare services is limited by external factors, the equilibrium price may be unaffordable for many who desire it but cannot pay for it.
Various market structures exist. In perfectly competitive markets, no participants are large enough to have the market power to set the price of a homogeneous product. In other words, every participant is a “price taker” as no participant influences the price of a product. In the real world, markets often experience imperfect competition.
Forms include monopoly (in which there is only one seller of a good), duopoly (in which there are only two sellers of a good), oligopoly (in which there are few sellers of a good), monopolistic competition (in which there are many sellers producing highly differentiated goods), monopsony (in which there is only one buyer of a good), and oligopsony (in which there are few buyers of a good). Unlike perfect competition, imperfect competition invariably means market power is unequally distributed. Firms under imperfect competition have the potential to be “price makers”, which means that, by holding a disproportionately high share of market power, they can influence the prices of their products.
Microeconomics studies individual markets by simplifying the economic system by assuming that activity in the market being analysed does not affect other markets. This method of analysis is known as partial-equilibrium analysis (supply and demand). This method aggregates (the sum of all activity) in only one market. General-equilibrium theory studies various markets and their behaviour. It aggregates (the sum of all activity) across all markets. This method studies both changes in markets and their interactions leading towards equilibrium.
Production, cost, and efficiency
Main articles: Production theory basics, Opportunity cost, Economic efficiency, and Production–possibility frontier
In microeconomics, production is the conversion of inputs into outputs. It is an economic process that uses inputs to create a commodity or a service for exchange or direct use. Production is a flow and thus a rate of output per period of time. Distinctions include such production alternatives as for consumption (food, haircuts, etc.) vs. investment goods (new tractors, buildings, roads, etc.), public goods (national defense, small-pox vaccinations, etc.) or private goods (new computers, bananas, etc.), and “guns” vs. “butter”.
Opportunity cost refers to the economic cost of production: the value of the next best opportunity foregone. Choices must be made between desirable yet mutually exclusive actions. It has been described as expressing “the basic relationship between scarcity and choice.”. The opportunity cost of an activity is an element in ensuring that scarce resources are used efficiently, such that the cost is weighed against the value of that activity in deciding on more or less of it. Opportunity costs are not restricted to monetary or financial costs but could be measured by the real cost of output forgone, leisure, or anything else that provides the alternative benefit (utility).
Inputs used in the production process include such primary factors of production as labour services, capital (durable produced goods used in production, such as an existing factory), and land (including natural resources). Other inputs may include intermediate goods used in production of final goods, such as the steel in a new car.
Economic efficiency describes how well a system generates desired output with a given set of inputs and available technology. Efficiency is improved if more output is generated without changing inputs, or in other words, the amount of “waste” is reduced. A widely accepted general standard is Pareto efficiency, which is reached when no further change can make someone better off without making someone else worse off.

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An example production–possibility frontier with illustrative points marked.

The production–possibility frontier (PPF) is an expository figure for representing scarcity, cost, and efficiency. In the simplest case an economy can produce just two goods (say “guns” and “butter”). The PPF is a table or graph (as at the right) showing the different quantity combinations of the two goods producible with a given technology and total factor inputs, which limit feasible total output. Each point on the curve shows potential total output for the economy, which is the maximum feasible output of one good, given a feasible output quantity of the other good.
Scarcity is represented in the figure by people being willing but unable in the aggregate to consume beyond the PPF (such as at X) and by the negative slope of the curve If production of one good increases along the curve, production of the other good decreases, an inverse relationship. This is because increasing output of one good requires transferring inputs to it from production of the other good, decreasing the latter.
The slope of the curve at a point on it gives the trade-off between the two goods. It measures what an additional unit of one good costs in units forgone of the other good, an example of a real opportunity cost. Thus, if one more Gun costs 100 units of butter, the opportunity cost of one Gun is 100 Butter. Along the PPF, scarcity implies that choosing more of one good in the aggregate entails doing with less of the other good. Still, in a market economy, movement along the curve may indicate that the choice of the increased output is anticipated to be worth the cost to the agents.
By construction, each point on the curve shows productive efficiency in maximizing output for given total inputs. A point inside the curve (as at A), is feasible but represents production inefficiency (wasteful use of inputs), in that output of one or both goods could increase by moving in a northeast direction to a point on the curve. Examples cited of such inefficiency include high unemployment during a business-cycle recession or economic organization of a country that discourages full use of resources. Being on the curve might still not fully satisfy allocative efficiency (also called Pareto efficiency) if it does not produce a mix of goods that consumers prefer over other points.
Much applied economics in public policy is concerned with determining how the efficiency of an economy can be improved. Recognizing the reality of scarcity and then figuring out how to organize society for the most efficient use of resources has been described as the “essence of economics”, where the subject “makes its unique contribution.”
Specialization
Main articles: Division of labour, Comparative advantage, and Gains from trade

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A map showing the main trade routes for goods within late medieval Europe.
Specialization is considered key to economic efficiency based on theoretical and empirical considerations. Different individuals or nations may have different real opportunity costs of production, say from differences in stocks of human capital per worker or capital/labour ratios. According to theory, this may give a comparative advantage in production of goods that make more intensive use of the relatively more abundant, thus relatively cheaper, input.
Even if one region has an absolute advantage as to the ratio of its outputs to inputs in every type of output, it may still specialize in the output in which it has a comparative advantage and thereby gain from trading with a region that lacks any absolute advantage but has a comparative advantage in producing something else.
It has been observed that a high volume of trade occurs among regions even with access to a similar technology and mix of factor inputs, including high-income countries. This has led to investigation of economies of scale and agglomeration to explain specialization in similar but differentiated product lines, to the overall benefit of respective trading parties or regions.
The general theory of specialization applies to trade among individuals, farms, manufacturers, service providers, and economies. Among each of these production systems, there may be a corresponding division of labour with different work groups specializing, or correspondingly different types of capital equipment and differentiated land uses.
An example that combines features above is a country that specializes in the production of high-tech knowledge products, as developed countries do, and trades with developing nations for goods produced in factories where labour is relatively cheap and plentiful, resulting in different in opportunity costs of production. More total output and utility thereby results from specializing in production and trading than if each country produced its own high-tech and low-tech products.
Theory and observation set out the conditions such that market prices of outputs and productive inputs select an allocation of factor inputs by comparative advantage, so that (relatively) low-cost inputs go to producing low-cost outputs. In the process, aggregate output may increase as a by-product or by design. Such specialization of production creates opportunities for gains from trade whereby resource owners benefit from trade in the sale of one type of output for other, more highly valued goods. A measure of gains from trade is the increased income levels that trade may facilitate.
Supply and demand
Main article: Supply and demand

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The supply and demand model describes how prices vary as a result of a balance between product availability and demand. The graph depicts an increase (that is, right-shift) in demand from D1 to D2 along with the consequent increase in price and quantity required to reach a new equilibrium point on the supply curve (S).
Prices and quantities have been described as the most directly observable attributes of goods produced and exchanged in a market economy. The theory of supply and demand is an organizing principle for explaining how prices coordinate the amounts produced and consumed. In microeconomics, it applies to price and output determination for a market with perfect competition, which includes the condition of no buyers or sellers large enough to have price-setting power.
For a given market of a commodity, demand is the relation of the quantity that all buyers would be prepared to purchase at each unit price of the good. Demand is often represented by a table or a graph showing price and quantity demanded (as in the figure). Demand theory describes individual consumers as rationally choosing the most preferred quantity of each good, given income, prices, tastes, etc. A term for this is “constrained utility maximization” (with income and wealth as the constraints on demand). Here, utility refers to the hypothesized relation of each individual consumer for ranking different commodity bundles as more or less preferred.
The law of demand states that, in general, price and quantity demanded in a given market are inversely related. That is, the higher the price of a product, the less of it people would be prepared to buy of it (other things unchanged). As the price of a commodity falls, consumers move toward it from relatively more expensive goods (the substitution effect). In addition, purchasing power from the price decline increases ability to buy (the income effect). Other factors can change demand; for example an increase in income will shift the demand curve for a normal good outward relative to the origin, as in the figure. All determinants are predominantly taken as constant factors of demand and supply.
Supply is the relation between the price of a good and the quantity available for sale at that price. It may be represented as a table or graph relating price and quantity supplied. Producers, for example business firms, are hypothesized to be profit-maximizers, meaning that they attempt to produce and supply the amount of goods that will bring them the highest profit. Supply is typically represented as a directly proportional relation between price and quantity supplied (other things unchanged).
That is, the higher the price at which the good can be sold, the more of it producers will supply, as in the figure. The higher price makes it profitable to increase production. Just as on the demand side, the position of the supply can shift, say from a change in the price of a productive input or a technical improvement. The “Law of Supply” states that, in general, a rise in price leads to an expansion in supply and a fall in price leads to a contraction in supply. Here as well, the determinants of supply, such as price of substitutes, cost of production, technology applied and various factors inputs of production are all taken to be constant for a specific time period of evaluation of supply.
Market equilibrium occurs where quantity supplied equals quantity demanded, the intersection of the supply and demand curves in the figure above. At a price below equilibrium, there is a shortage of quantity supplied compared to quantity demanded. This is posited to bid the price up. At a price above equilibrium, there is a surplus of quantity supplied compared to quantity demanded. This pushes the price down. The model of supply and demand predicts that for given supply and demand curves, price and quantity will stabilize at the price that makes quantity supplied equal to quantity demanded. Similarly, demand-and-supply theory predicts a new price-quantity combination from a shift in demand (as to the figure), or in supply.
For a given quantity of a consumer good, the point on the demand curve indicates the value, or marginal utility, to consumers for that unit. It measures what the consumer would be prepared to pay for that unit. The corresponding point on the supply curve measures marginal cost, the increase in total cost to the supplier for the corresponding unit of the good. The price in equilibrium is determined by supply and demand. In a perfectly competitive market, supply and demand equate marginal cost and marginal utility at equilibrium.
On the supply side of the market, some factors of production are described as (relatively) variable in the short run, which affects the cost of changing output levels. Their usage rates can be changed easily, such as electrical power, raw-material inputs, and over-time and temp work. Other inputs are relatively fixed, such as plant and equipment and key personnel. In the long run, all inputs may be adjusted by management. These distinctions translate to differences in the elasticity (responsiveness) of the supply curve in the short and long runs and corresponding differences in the price-quantity change from a shift on the supply or demand side of the market.
Marginalist theory, such as above, describes the consumers as attempting to reach most-preferred positions, subject to income and wealth constraints while producers attempt to maximize profits subject to their own constraints, including demand for goods produced, technology, and the price of inputs. For the consumer, that point comes where marginal utility of a good, net of price, reaches zero, leaving no net gain from further consumption increases. Analogously, the producer compares marginal revenue (identical to price for the perfect competitor) against the marginal cost of a good, with marginal profit the difference. At the point where marginal profit reaches zero, further increases in production of the good stop. For movement to market equilibrium and for changes in equilibrium, price and quantity also change “at the margin”: more-or-less of something, rather than necessarily all-or-nothing.
Other applications of demand and supply include the distribution of income among the factors of production, including labour and capital, through factor markets. In a competitive labour market for example the quantity of labour employed and the price of labour (the wage rate) depends on the demand for labour (from employers for production) and supply of labour (from potential workers). Labour economics examines the interaction of workers and employers through such markets to explain patterns and changes of wages and other labour income, labour mobility, and (un)employment, productivity through human capital, and related public-policy issues.
Demand-and-supply analysis is used to explain the behavior of perfectly competitive markets, but as a standard of comparison it can be extended to any type of market. It can also be generalized to explain variables across the economy, for example, total output (estimated as real GDP) and the general price level, as studied in macroeconomics. Tracing the qualitative and quantitative effects of variables that change supply and demand, whether in the short or long run, is a standard exercise in applied economics. Economic theory may also specify conditions such that supply and demand through the market is an efficient mechanism for allocating resources.
Firms
Main articles: Theory of the firm, Industrial organization, Business economics, and Managerial economics
People frequently do not trade directly on markets. Instead, on the supply side, they may work in and produce through firms. The most obvious kinds of firms are corporations, partnerships and trusts. According to Ronald Coase people begin to organise their production in firms when the costs of doing business becomes lower than doing it on the market. Firms combine labour and capital, and can achieve far greater economies of scale (when the average cost per unit declines as more units are produced) than individual market trading.
In perfectly competitive markets studied in the theory of supply and demand, there are many producers, none of which significantly influence price. Industrial organization generalizes from that special case to study the strategic behavior of firms that do have significant control of price. It considers the structure of such markets and their interactions. Common market structures studied besides perfect competition include monopolistic competition, various forms of oligopoly, and monopoly.
Managerial economics applies microeconomic analysis to specific decisions in business firms or other management units. It draws heavily from quantitative methods such as operations research and programming and from statistical methods such as regression analysis in the absence of certainty and perfect knowledge. A unifying theme is the attempt to optimize business decisions, including unit-cost minimization and profit maximization, given the firm’s objectives and constraints imposed by technology and market conditions.
Uncertainty and game theory
Main articles: Information economics, Game theory, and Financial economics
Uncertainty in economics is an unknown prospect of gain or loss, whether quantifiable as risk or not. Without it, household behavior would be unaffected by uncertain employment and income prospects, financial and capital markets would reduce to exchange of a single instrument in each market period, and there would be no communications industry. Given its different forms, there are various ways of representing uncertainty and modelling economic agents’ responses to it.
Game theory is a branch of applied mathematics that considers strategic interactions between agents, one kind of uncertainty. It provides a mathematical foundation of industrial organization, discussed above, to model different types of firm behavior, for example in an oligopolistic industry (few sellers), but equally applicable to wage negotiations, bargaining, contract design, and any situation where individual agents are few enough to have perceptible effects on each other. As a method heavily used in behavioral economics, it postulates that agents choose strategies to maximize their payoffs, given the strategies of other agents with at least partially conflicting interests.
In this, it generalizes maximization approaches developed to analyze market actors such as in the supply and demand model and allows for incomplete information of actors. The field dates from the 1944 classic Theory of Games and Economic Behavior by John von Neumann and Oskar Morgenstern. It has significant applications seemingly outside of economics in such diverse subjects as formulation of nuclear strategies, ethics, political science, and evolutionary biology.
Risk aversion may stimulate activity that in well-functioning markets smooths out risk and communicates information about risk, as in markets for insurance, commodity futures contracts, and financial instruments. Financial economics or simply finance describes the allocation of financial resources. It also analyzes the pricing of financial instruments, the financial structure of companies, the efficiency and fragility of financial markets, financial crises, and related government policy or regulation.
Some market organizations may give rise to inefficiencies associated with uncertainty. Based on George Akerlof’s “Market for Lemons” article, the paradigm example is of a dodgy second-hand car market. Customers without knowledge of whether a car is a “lemon” depress its price below what a quality second-hand car would be. Information asymmetry arises here, if the seller has more relevant information than the buyer but no incentive to disclose it. Related problems in insurance are adverse selection, such that those at most risk are most likely to insure (say reckless drivers), and moral hazard, such that insurance results in riskier behavior (say more reckless driving).
Both problems may raise insurance costs and reduce efficiency in driving otherwise willing transactors from the market (“incomplete markets”). Moreover, attempting to reduce one problem, say adverse selection by mandating insurance, may add to another, say moral hazard. Information economics, which studies such problems, has relevance in subjects such as insurance, contract law, mechanism design, monetary economics, and health care. Applied subjects include market and legal remedies to spread or reduce risk, such as warranties, government-mandated partial insurance, restructuring or bankruptcy law, inspection, and regulation for quality and information disclosure.
Market failure
Main articles: Market failure, Government failure, Information economics, Environmental economics, and Agricultural economics

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Pollution can be a simple example of market failure. If costs of production are not borne by producers but are by the environment, accident victims or others, then prices are distorted.
The term “market failure” encompasses several problems which may undermine standard economic assumptions. Although economists categorise market failures differently, the following categories emerge in the main texts.
Information asymmetries and incomplete markets may result in economic inefficiency but also a possibility of improving efficiency through market, legal, and regulatory remedies, as discussed above.
Natural monopoly, or the overlapping concepts of “practical” and “technical” monopoly, is an extreme case of failure of competition as a restraint on producers. Extreme economies of scale are one possible cause.
Public goods are goods which are undersupplied in a typical market. The defining features are that people can consume public goods without having to pay for them and that more than one person can consume the good at the same time.
Externalities occur where there are significant social costs or benefits from production or consumption that are not reflected in market prices. For example, air pollution may generate a negative externality, and education may generate a positive externality (less crime, etc.). Governments often tax and otherwise restrict the sale of goods that have negative externalities and subsidize or otherwise promote the purchase of goods that have positive externalities in an effort to correct the price distortions caused by these externalities. Elementary demand-and-supply theory predicts equilibrium but not the speed of adjustment for changes of equilibrium due to a shift in demand or supply.
In many areas, some form of price stickiness is postulated to account for quantities, rather than prices, adjusting in the short run to changes on the demand side or the supply side. This includes standard analysis of the business cycle in macroeconomics. Analysis often revolves around causes of such price stickiness and their implications for reaching a hypothesized long-run equilibrium. Examples of such price stickiness in particular markets include wage rates in labour markets and posted prices in markets deviating from perfect competition.

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Environmental scientist sampling water
Some specialised fields of economics deal in market failure more than others. The economics of the public sector is one example. Much environmental economics concerns externalities or “public bads”.
Policy options include regulations that reflect cost-benefit analysis or market solutions that change incentives, such as emission fees or redefinition of property rights.
Public sector
Main articles: Economics of the public sector and Public finance
See also: Welfare economics
Public finance is the field of economics that deals with budgeting the revenues and expenditures of a public sector entity, usually government. The subject addresses such matters as tax incidence (who really pays a particular tax), cost-benefit analysis of government programs, effects on economic efficiency and income distribution of different kinds of spending and taxes, and fiscal politics. The latter, an aspect of public choice theory, models public-sector behavior analogously to microeconomics, involving interactions of self-interested voters, politicians, and bureaucrats.
Much of economics is positive, seeking to describe and predict economic phenomena. Normative economics seeks to identify what economies ought to be like.
Welfare economics is a normative branch of economics that uses microeconomic techniques to simultaneously determine the allocative efficiency within an economy and the income distribution associated with it. It attempts to measure social welfare by examining the economic activities of the individuals that comprise society.
Macroeconomics

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The circulation of money in an economy in a macroeconomic model.
Main article: Macroeconomics
Macroeconomics examines the economy as a whole to explain broad aggregates and their interactions “top down”, that is, using a simplified form of general-equilibrium theory. Such aggregates include national income and output, the unemployment rate, and price inflation and subaggregates like total consumption and investment spending and their components. It also studies effects of monetary policy and fiscal policy.
Since at least the 1960s, macroeconomics has been characterized by further integration as to micro-based modeling of sectors, including rationality of players, efficient use of market information, and imperfect competition. This has addressed a long-standing concern about inconsistent developments of the same subject.
Macroeconomic analysis also considers factors affecting the long-term level and growth of national income. Such factors include capital accumulation, technological change and labour force growth.
Growth
Main article: Economic growth
Growth economics studies factors that explain economic growth – the increase in output per capita of a country over a long period of time. The same factors are used to explain differences in the level of output per capita between countries, in particular why some countries grow faster than others, and whether countries converge at the same rates of growth.
Much-studied factors include the rate of investment, population growth, and technological change. These are represented in theoretical and empirical forms (as in the neoclassical and endogenous growth models) and in growth accounting.
Business cycle
Main article: Business cycle
See also: Circular flow of income, Aggregate supply, Aggregate demand, and Unemployment

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A basic illustration of economic/business cycles.
The economics of a depression were the spur for the creation of “macroeconomics” as a separate discipline field of study. During the Great Depression of the 1930s, John Maynard Keynes authored a book entitled The General Theory of Employment, Interest and Money outlining the key theories of Keynesian economics. Keynes contended that aggregate demand for goods might be insufficient during economic downturns, leading to unnecessarily high unemployment and losses of potential output.
He therefore advocated active policy responses by the public sector, including monetary policy actions by the central bank and fiscal policy actions by the government to stabilize output over the business cycle. Thus, a central conclusion of Keynesian economics is that, in some situations, no strong automatic mechanism moves output and employment towards full employment levels. John Hicks’ IS/LM model has been the most influential interpretation of The General Theory.
Over the years, understanding of the business cycle has branched into various research programs, mostly related to or distinct from Keynesianism. The neoclassical synthesis refers to the reconciliation of Keynesian economics with neoclassical economics, stating that Keynesianism is correct in the short run but qualified by neoclassical-like considerations in the intermediate and long run.
New classical macroeconomics, as distinct from the Keynesian view of the business cycle, posits market clearing with imperfect information. It includes Friedman’s permanent income hypothesis on consumption and “rational expectations” theory, lead by Robert Lucas, and real business cycle theory.
In contrast, the new Keynesian approach retains the rational expectations assumption, however it assumes a variety of market failures. In particular, New Keynesians assume prices and wages are “sticky”, which means they do not adjust instantaneously to changes in economic conditions.
Thus, the new classicals assume that prices and wages adjust automatically to attain full employment, whereas the new Keynesians see full employment as being automatically achieved only in the long run, and hence government and central-bank policies are needed because the “long run” may be very long.
Unemployment
Main article: Unemployment

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The percentage of the US population employed, 1995–2012.
The amount of unemployment in an economy is measured by the unemployment rate, the percentage of workers without jobs in the labour force. The labour force only includes workers actively looking for jobs. People who are retired, pursuing education, or discouraged from seeking work by a lack of job prospects are excluded from the labor force. Unemployment can be generally broken down into several types that are related to different causes.
Classical models of unemployment occurs when wages are too high for employers to be willing to hire more workers. Wages may be too high because of minimum wage laws or union activity. Consistent with classical unemployment, frictional unemployment occurs when appropriate job vacancies exist for a worker, but the length of time needed to search for and find the job leads to a period of unemployment.
Structural unemployment covers a variety of possible causes of unemployment including a mismatch between workers’ skills and the skills required for open jobs. Large amounts of structural unemployment can occur when an economy is transitioning industries and workers find their previous set of skills are no longer in demand. Structural unemployment is similar to frictional unemployment since both reflect the problem of matching workers with job vacancies, but structural unemployment covers the time needed to acquire new skills not just the short term search process.
While some types of unemployment may occur regardless of the condition of the economy, cyclical unemployment occurs when growth stagnates. Okun’s law represents the empirical relationship between unemployment and economic growth. The original version of Okun’s law states that a 3% increase in output would lead to a 1% decrease in unemployment.
Inflation and monetary policy
Main articles: Inflation and Monetary policy
See also: Money, Quantity theory of money, Monetary policy, and History of money
Money is a means of final payment for goods in most price system economies and the unit of account in which prices are typically stated. A very apt statement by Professor Walker, a well-known economist is that, ” Money is what money does”[citation needed]. Money has a general acceptability, a relative consistency in value, divisibility, durability, portability, elastic in supply and survives with mass public confidence. It includes currency held by the nonbank public and checkable deposits. It has been described as a social convention, like language, useful to one largely because it is useful to others.
As a medium of exchange, money facilitates trade. It is essentially a measure of value and more importantly, a store of value being a basis for credit creation. Its economic function can be contrasted with barter (non-monetary exchange). Given a diverse array of produced goods and specialized producers, barter may entail a hard-to-locate double coincidence of wants as to what is exchanged, say apples and a book. Money can reduce the transaction cost of exchange because of its ready acceptability. Then it is less costly for the seller to accept money in exchange, rather than what the buyer produces.
At the level of an economy, theory and evidence are consistent with a positive relationship running from the total money supply to the nominal value of total output and to the general price level. For this reason, management of the money supply is a key aspect of monetary policy.
Fiscal policy
Main articles: Fiscal policy and Government spending
Governments implement fiscal policy by adjusting spending and taxation policies to alter aggregate demand. When aggregate demand falls below the potential output of the economy, there is an output gap where some productive capacity is left unemployed. Governments increase spending and cut taxes to boost aggregate demand. Resources that have been idled can be used by the government.
For example, unemployed home builders can be hired to expand highways. Tax cuts allow consumers to increase their spending, which boosts aggregate demand. Both tax cuts and spending have multiplier effects where the initial increase in demand from the policy percolates through the economy and generates additional economic activity.
The effects of fiscal policy can be limited by crowding out. When there is no output gap, the economy is producing at full capacity and there are no excess productive resources. If the government increases spending in this situation, the government use resources that otherwise would have been used by the private sector, so there is no increase in overall output. Some economists think that crowding out is always an issue while others do not think it is a major issue when output is depressed.
Skeptics of fiscal policy also make the argument of Ricardian equivalence. They argue that an increase in debt will have to be paid for with future tax increases, which will cause people to reduce their consumption and save money to pay for the future tax increase. Under Ricardian equivalence, any boost in demand from fiscal policy will be offset by the increased savings rate intended to pay for future higher taxes.
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English
Microeconomics

Microeconomics is the branch of economics that studies the behavior of consumers and companies as well as the determination of market prices and the quantity of factor inputs, goods, and services are bought and sold.

Indonesia

Ilmu ekonomi mikro adalah cabang dari ilmu ekonomi yang mempelajari perilaku konsumen dan perusahaan serta penentuan harga-harga pasar dan kuantitas faktor input, barang, dan jasa yang diperjualbelikan.

Microeconomics examines how entities, forming a market structure, interact within a market to create a market system. These entities include private and public players with various classifications, typically operating under scarcity of tradeable units and government regulation. The item traded may be a tangible product such as apples or a service such as repair services, legal counsel, or entertainment.

Ekonomi mikro meneliti bagaimana entitas, membentuk struktur pasar, berinteraksi dalam pasar untuk menciptakan sebuah sistem pasar. Entitas ini dilengkapi pemutar swasta dan publik dengan berbagai klasifikasi, biasanya beroperasi di bawah kelangkaan unit diperdagangkan dan peraturan pemerintah. Item diperdagangkan dapat menjadi produk nyata seperti apel atau layanan seperti layanan perbaikan, penasihat hukum, atau hiburan.

Microeconomics studies individual markets by simplifying the economic system by assuming that activity in the market being analysed does not affect other markets. This method of analysis is known as partial-equilibrium analysis (supply and demand). This method aggregates (the sum of all activity) in only one market. General-equilibrium theory studies various markets and their behaviour. It aggregates (the sum of all activity) across all markets. This method studies both changes in markets and their interactions leading towards equilibrium.

Ekonomi mikro mempelajari pasar individu dengan menyederhanakan sistem ekonomi dengan asumsi bahwa aktivitas di pasar yang dianalisis tidak mempengaruhi pasar lain. Metode analisis ini dikenal sebagai analisis parsial-equilibrium (supply dan demand). Metode ini agregat (jumlah semua kegiatan) hanya dalam satu pasar. Teori umum-ekuilibrium mempelajari berbagai pasar dan perilaku mereka. Ini agregat (jumlah semua aktivitas) di semua pasar. Metode ini mempelajari kedua perubahan pasar dan interaksi mereka mengarah pada keseimbangan.

Production, cost, and efficiency

In microeconomics, production is the conversion of inputs into outputs. It is an economic process that uses inputs to create a commodity or a service for exchange or direct use. Production is a flow and thus a rate of output per period of time. Distinctions include such production alternatives as for consumption (food, haircuts, etc.) vs. investment goods (new tractors, buildings, roads, etc.), public goods (national defense, small-pox vaccinations, etc.) or private goods (new computers, bananas, etc.), and “guns” vs. “butter”.

Dalam ekonomi mikro, produksi adalah konversi dari input menjadi output. Ini adalah proses ekonomi yang menggunakan input untuk membuat barang atau jasa untuk pertukaran atau menggunakan langsung. Produksi adalah aliran dan dengan demikian tingkat output per periode waktu. Perbedaan meliputi alternatif produksi seperti untuk konsumsi (makanan, potongan rambut, dll) vs barang-barang investasi (traktor baru, bangunan, jalan, dll), barang publik (pertahanan nasional, vaksinasi cacar, dll) atau barang pribadi ( komputer baru, pisang, dll), dan “senjata” vs “mentega”.

Opportunity cost refers to the economic cost of production: the value of the next best opportunity foregone. Choices must be made between desirable yet mutually exclusive actions. It has been described as expressing “the basic relationship between scarcity and choice.”. The opportunity cost of an activity is an element in ensuring that scarce resources are used efficiently, such that the cost is weighed against the value of that activity in deciding on more or less of it. Opportunity costs are not restricted to monetary or financial costs but could be measured by the real cost of output forgone, leisure, or anything else that provides the alternative benefit (utility).

Biaya peluang mengacu pada biaya ekonomi produksi: nilai terbaik berikutnya kesempatan terdahulu. Pilihan harus dibuat antara tindakan yang diinginkan belum saling eksklusif. Ini telah digambarkan sebagai mengungkapkan "hubungan dasar antara kelangkaan dan pilihan.". Biaya kesempatan dari suatu kegiatan merupakan unsur dalam memastikan bahwa sumber daya yang langka digunakan secara efisien, sehingga biaya ditimbang terhadap nilai kegiatan yang dalam memutuskan lebih atau kurang dari itu. Biaya peluang tidak terbatas pada biaya moneter atau keuangan, tetapi dapat diukur dengan biaya riil output yang hilang, rekreasi, atau apa pun yang memberikan manfaat alternatif (utilitas).

Economic efficiency describes how well a system generates desired output with a given set of inputs and available technology. Efficiency is improved if more output is generated without changing inputs, or in other words, the amount of “waste” is reduced. A widely accepted general standard is Pareto efficiency, which is reached when no further change can make someone better off without making someone else worse off.

Efisiensi ekonomi menggambarkan seberapa baik sistem menghasilkan output yang diinginkan dengan himpunan input dan teknologi yang tersedia. Efisiensi meningkat jika lebih banyak output yang dihasilkan tanpa input berubah, atau dengan kata lain, jumlah dari “keburukan” berkurang. Sebuah standar umum yang diterima secara luas adalah efisiensi Pareto, yang tercapai bila tidak ada perubahan lebih lanjut dapat membuat seseorang lebih baik tanpa membuat orang lain lebih buruk.

Specialization is considered key to economic efficiency based on theoretical and empirical considerations. Different individuals or nations may have different real opportunity costs of production, say from differences in stocks of human capital per worker or capital/labour ratios. According to theory, this may give a comparative advantage in production of goods that make more intensive use of the relatively more abundant, thus relatively cheaper, input.

Spesialisasi adalah kunci untuk efisiensi ekonomi berdasarkan pertimbangan teoritis dan empiris dipertimbangkan. Individu yang berbeda atau negara mungkin memiliki biaya kesempatan nyata berbeda dari produksi, mengatakan dari perbedaan saham modal manusia per pekerja atau rasio modal / tenaga kerja. Menurut teori, hal ini dapat memberikan keunggulan komparatif dalam produksi barang yang menggunakan lebih intensif yang relatif lebih banyak, sehingga relatif lebih murah, masukan.

The general theory of specialization applies to trade among individuals, farms, manufacturers, service providers, and economies. Among each of these production systems, there may be a corresponding division of labour with different work groups specializing, or correspondingly different types of capital equipment and differentiated land uses.

Teori umum spesialisasi berlaku untuk perdagangan antar individu, peternakan, produsen, penyedia layanan, dan ekonomi. Di antara masing-masing sistem produksi ini, mungkin ada pembagian kerja yang sesuai dengan kelompok-kelompok kerja yang berbeda yang mengkhususkan diri, atau jenis Sejalan berbeda peralatan modal dan penggunaan lahan dibedakan.

An example that combines features above is a country that specializes in the production of high-tech knowledge products, as developed countries do, and trades with developing nations for goods produced in factories where labour is relatively cheap and plentiful, resulting in different in opportunity costs of production. More total output and utility thereby results from specializing in production and trading than if each country produced its own high-tech and low-tech products.

Sebuah contoh yang menggabungkan fitur di atas adalah negara yang mengkhususkan diri dalam produksi produk pengetahuan teknologi tinggi, seperti negara-negara maju melakukan, dan perdagangan dengan negara-negara berkembang untuk barang yang diproduksi di pabrik-pabrik di mana tenaga kerja relatif murah dan berlimpah, sehingga berbeda dalam biaya peluang produksi. Total output lebih dan utilitas sehingga hasil dari mengkhususkan diri dalam produksi dan perdagangan daripada jika masing-masing negara diproduksi berteknologi tinggi dan berteknologi rendah produk sendiri.

Supply and demand

The supply and demand model describes how prices vary as a result of a balance between product availability and demand. The graph depicts an increase (that is, right-shift) in demand from D1 to D2 along with the consequent increase in price and quantity required to reach a new equilibrium point on the supply curve (S).

Model permintaan dan penawaran menjelaskan bagaimana harga beragam sebagai hasil dari keseimbangan antara ketersediaan produk pada tiap harga (penawaran) dengan kebijakan distribusi dan keinginan dari mereka dengan kekuatan pembelian pada tiap harga (permintaan). Grafik ini memperlihatkan sebuah pergeseran ke kanan dalam permintaan dari D1 ke D2 bersama dengan peningkatan harga dan jumlah yang diperlukan untuk mencapai sebuah titik keseimbangan (equibilirium) dalam kurva penawaran (S).

Prices and quantities have been described as the most directly observable attributes of goods produced and exchanged in a market economy. The theory of supply and demand is an organizing principle for explaining how prices coordinate the amounts produced and consumed. In microeconomics, it applies to price and output determination for a market with perfect competition, which includes the condition of no buyers or sellers large enough to have price-setting power.

Harga dan kuantitas telah digambarkan sebagai atribut yang paling langsung diamati barang yang diproduksi dan dipertukarkan dalam ekonomi pasar. Teori penawaran dan permintaan merupakan prinsip pengorganisasian untuk menjelaskan bagaimana harga mengkoordinasikan jumlah yang diproduksi dan dikonsumsi. Dalam ekonomi mikro, itu berlaku untuk penentuan harga dan output untuk pasar dengan persaingan sempurna, yang meliputi kondisi tidak ada pembeli atau penjual yang cukup besar untuk memiliki kekuatan penetapan harga.

Marginalist theory, describes the consumers as attempting to reach most-preferred positions, subject to income and wealth constraints while producers attempt to maximize profits subject to their own constraints, including demand for goods produced, technology, and the price of inputs. For the consumer, that point comes where marginal utility of a good, net of price, reaches zero, leaving no net gain from further consumption increases. Analogously, the producer compares marginal revenue (identical to price for the perfect competitor) against the marginal cost of a good, with marginal profit the difference. At the point where marginal profit reaches zero, further increases in production of the good stop. For movement to market equilibrium and for changes in equilibrium, price and quantity also change “at the margin”: more-or-less of something, rather than necessarily all-or-nothing.

Teori Marginalist, menggambarkan konsumen sebagai berusaha untuk mencapai posisi yang paling disukai-, tunduk pada pendapatan dan kekayaan kendala sementara produsen berusaha untuk memaksimalkan keuntungan tunduk pada batasan mereka sendiri, termasuk permintaan untuk barang yang diproduksi, teknologi, dan harga input . Untuk konsumen, saat itu datang di mana utilitas marjinal yang baik, bersih harga, mencapai nol, tanpa meninggalkan keuntungan bersih dari kenaikan konsumsi lebih lanjut. Secara analog, produser membandingkan pendapatan marjinal (identik dengan harga untuk pesaing sempurna) terhadap biaya marjinal yang baik, dengan keuntungan marginal perbedaan. Pada titik di mana keuntungan marginal mencapai nol, kenaikan lebih lanjut dalam produksi berhenti baik. Untuk gerakan untuk keseimbangan pasar dan perubahan dalam kesetimbangan, harga dan kuantitas juga berubah “margin”: lebih-atau-kurang sesuatu, daripada tentu semua atau tidak sama sekali.

Demand-and-supply analysis is used to explain the behavior of perfectly competitive markets, but as a standard of comparison it can be extended to any type of market. It can also be generalized to explain variables across the economy, for example, total output (estimated as real GDP) and the general price level, as studied in macroeconomics. Tracing the qualitative and quantitative effects of variables that change supply and demand, whether in the short or long run, is a standard exercise in applied economics. Economic theory may also specify conditions such that supply and demand through the market is an efficient mechanism for allocating resources.

Analisis permintaan dan pasokan yang digunakan untuk menjelaskan perilaku pasar persaingan sempurna, tetapi sebagai standar perbandingan dapat diperpanjang untuk semua jenis pasar. Hal ini juga dapat digeneralisasi untuk menjelaskan variabel di seluruh ekonomi, misalnya, total output (diperkirakan sebagai PDB riil) dan tingkat harga umum, seperti yang dipelajari dalam makroekonomi. Menelusuri efek kualitatif dan kuantitatif dari variabel yang mengubah penawaran dan permintaan, baik dalam jangka pendek atau panjang, adalah latihan standar dalam ekonomi terapan. Teori ekonomi juga dapat menentukan kondisi seperti penawaran dan permintaan melalui pasar adalah mekanisme yang efisien untuk mengalokasikan sumber daya.

Macroeconomics

Macroeconomics examines the economy as a whole to explain broad aggregates and their interactions “top down”, that is, using a simplified form of general-equilibrium theory. Such aggregates include national income and output, the unemployment rate, and price inflation and subaggregates like total consumption and investment spending and their components. It also studies effects of monetary policy and fiscal policy.

Makroekonomi meneliti perekonomian secara keseluruhan untuk menjelaskan agregat luas dan
“interaksi mereka” yaitu, dengan menggunakan bentuk sederhana teori umum-ekuilibrium. Agregat tersebut termasuk pendapatan nasional dan output, tingkat pengangguran, dan inflasi harga dan subaggregates seperti total konsumsi dan pengeluaran investasi dan komponen mereka. Hal ini juga mempelajari dampak kebijakan moneter dan kebijakan fiskal.

Since at least the 1960s, macroeconomics has been characterized by further integration as to micro-based modeling of sectors, including rationality of players, efficient use of market information, and imperfect competition. This has addressed a long-standing concern about inconsistent developments of the same subject.

Setidaknya sejak tahun 1960, makroekonomi telah ditandai dengan integrasi lebih lanjut untuk pemodelan mikro berbasis sektor, termasuk rasionalitas pemain, efisiensi penggunaan informasi pasar, dan persaingan tidak sempurna. Hal ini ditujukan kekhawatiran lama tentang perkembangan yang tidak konsisten dari subjek yang sama.

Macroeconomic analysis also considers factors affecting the long-term level and growth of national income. Such factors include capital accumulation, technological change and labour force growth.

Analisis makroekonomi juga mempertimbangkan faktor yang mempengaruhi tingkat jangka panjang dan pertumbuhan pendapatan nasional. Faktor-faktor tersebut meliputi akumulasi modal, perubahan teknologi dan pertumbuhan angkatan kerja.

Growth
Growth economics studies factors that explain economic growth – the increase in output per capita of a country over a long period of time. The same factors are used to explain differences in the level of output per capita between countries, in particular why some countries grow faster than others, and whether countries converge at the same rates of growth.

Pertumbuhan ekonomi mempelajari faktor-faktor yang menjelaskan pertumbuhan ekonomi – peningkatan output per kapita suatu negara selama periode waktu yang panjang. Faktor yang sama yang digunakan untuk menjelaskan perbedaan dalam tingkat output per kapita antar negara, khususnya mengapa beberapa negara tumbuh lebih cepat dari yang lain, dan apakah negara bertemu pada tingkat yang sama pertumbuhan.

Much-studied factors include the rate of investment, population growth, and technological change. These are represented in theoretical and empirical forms (as in the neoclassical and endogenous growth models) and in growth accounting.

Banyak faktor-dipelajari meliputi tingkat investasi, pertumbuhan penduduk, dan perubahan teknologi. Ini direpresentasikan dalam bentuk teoritis dan empiris (seperti dalam model pertumbuhan neoklasik dan endogen) dan dalam akuntansi pertumbuhan.

Inflation and monetary policy

Money is a means of final payment for goods in most price system economies and the unit of account in which prices are typically stated. A very apt statement by Professor Walker, a well-known economist is that, ” Money is what money does” Money has a general acceptability, a relative consistency in value, divisibility, durability, portability, elastic in supply and survives with mass public confidence. It includes currency held by the nonbank public and checkable deposits. It has been described as a social convention, like language, useful to one largely because it is useful to others.

Uang adalah alat pembayaran untuk barang-barang akhir di sebagian besar perekonomian sistem harga dan unit of account di mana harga biasanya dinyatakan. Sebuah pernyataan yang sangat tepat oleh Profesor Walker, seorang ekonom terkenal adalah bahwa, “Uang adalah uang”; Uang memiliki penerimaan umum, konsistensi relatif dalam nilai, dibagi, daya tahan, portabilitas, elastis pasokan dan bertahan dengan keyakinan umum massal . Ini termasuk mata uang yang dimiliki oleh simpanan masyarakat dan checkable nonbank. Ini telah digambarkan sebagai konvensi sosial, seperti bahasa, berguna untuk satu terutama karena hal ini berguna untuk orang lain.

As a medium of exchange, money facilitates trade. It is essentially a measure of value and more importantly, a store of value being a basis for credit creation. Its economic function can be contrasted with barter (non-monetary exchange). Given a diverse array of produced goods and specialized producers, barter may entail a hard-to-locate double coincidence of wants as to what is exchanged, say apples and a book. Money can reduce the transaction cost of exchange because of its ready acceptability. Then it is less costly for the seller to accept money in exchange, rather than what the buyer produces.

Sebagai alat tukar, uang memfasilitasi perdagangan. Ini pada dasarnya adalah sebuah ukuran nilai dan yang lebih penting, penyimpan nilai menjadi dasar penciptaan kredit. Fungsi ekonomi dapat dibandingkan dengan barter (pertukaran non-moneter). Mengingat beragam barang yang diproduksi dan produsen khusus, barter mungkin memerlukan kebetulan ganda sulit menemukan dari keinginan seperti apa yang dipertukarkan, seperti apel dan buku. Uang dapat mengurangi biaya transaksi pertukaran karena penerimaan siap nya. Maka itu adalah lebih murah bagi penjual untuk menerima uang dalam pertukaran, daripada apa yang menghasilkan pembeli.

At the level of an economy, theory and evidence are consistent with a positive relationship running from the total money supply to the nominal value of total output and to the general price level. For this reason, management of the money supply is a key aspect of monetary policy.

Pada tingkat ekonomi, teori dan bukti konsisten dengan hubungan yang positif berjalan dari total uang beredar dengan nilai nominal total output dan tingkat harga umum. Untuk alasan ini, pengelolaan uang beredar adalah aspek kunci dari kebijakan moneter.

 

 

Mitha Soviani Putri / 18611708 / 3SA04

Komunikasi Bisnis #

International economics
Main articles: International economics and Economic system

Gdpercapita

A world map showing GDP (PPP) per capita, 2011.
International trade studies determinants of goods-and-services flows across international boundaries. It also concerns the size and distribution of gains from trade. Policy applications include estimating the effects of changing tariff rates and trade quotas. International finance is a macroeconomic field which examines the flow of capital across international borders, and the effects of these movements on exchange rates. Increased trade in goods, services and capital between countries is a major effect of contemporary globalization.
The distinct field of development economics examines economic aspects of the economic development process in relatively low-income countries focusing on structural change, poverty, and economic growth. Approaches in development economics frequently incorporate social and political factors.
Economic systems is the branch of economics that studies the methods and institutions by which societies determine the ownership, direction, and allocation of economic resources. An economic system of a society is the unit of analysis.
Among contemporary systems at different ends of the organizational spectrum are socialist systems and capitalist systems, in which most production occurs in respectively state-run and private enterprises. In between are mixed economies. A common element is the interaction of economic and political influences, broadly described as political economy. Comparative economic systems studies the relative performance and behavior of different economies or systems.
Gross Domestic Product (GDP) or Economic Growth
Main article: Gross domestic product
Gross Domestic product means the total value of goods produced and services provided in a country in a year. GDP is customarily reported on annual basis.

Practice
Main articles: Economic methodology, Mathematical economics, and Schools of economics
Contemporary economics uses mathematics. Economists draw on the tools of calculus, linear algebra, statistics, game theory, and computer science. Professional economists are expected to be familiar with these tools, while a minority specialize in econometrics and mathematical methods.
Theory
Mainstream economic theory relies upon a priori quantitative economic models, which employ a variety of concepts. Theory typically proceeds with an assumption of ceteris paribus, which means holding constant explanatory variables other than the one under consideration. When creating theories, the objective is to find ones which are at least as simple in information requirements, more precise in predictions, and more fruitful in generating additional research than prior theories.
In microeconomics, principal concepts include supply and demand, marginalism, rational choice theory, opportunity cost, budget constraints, utility, and the theory of the firm. Early macroeconomic models focused on modeling the relationships between aggregate variables, but as the relationships appeared to change over time macroeconomists, including new Keynesians, reformulated their models in microfoundations.
The aforementioned microeconomic concepts play a major part in macroeconomic models – for instance, in monetary theory, the quantity theory of money predicts that increases in the money supply increase inflation, and inflation is assumed to be influenced by rational expectations. In development economics, slower growth in developed nations has been sometimes predicted because of the declining marginal returns of investment and capital, and this has been observed in the Four Asian Tigers. Sometimes an economic hypothesis is only qualitative, not quantitative.
Expositions of economic reasoning often use two-dimensional graphs to illustrate theoretical relationships. At a higher level of generality, Paul Samuelson’s treatise Foundations of Economic Analysis (1947) used mathematical methods to represent the theory, particularly as to maximizing behavioral relations of agents reaching equilibrium. The book focused on examining the class of statements called operationally meaningful theorems in economics, which are theorems that can conceivably be refuted by empirical data.
Empirical investigation
Main articles: Econometrics and Experimental economics
Economic theories are frequently tested empirically, largely through the use of econometrics using economic data. The controlled experiments common to the physical sciences are difficult and uncommon in economics,and instead broad data is observationally studied; this type of testing is typically regarded as less rigorous than controlled experimentation, and the conclusions typically more tentative. However, the field of experimental economics is growing, and increasing use is being made of natural experiments.
Statistical methods such as regression analysis are common. Practitioners use such methods to estimate the size, economic significance, and statistical significance (“signal strength”) of the hypothesized relation(s) and to adjust for noise from other variables. By such means, a hypothesis may gain acceptance, although in a probabilistic, rather than certain, sense. Acceptance is dependent upon the falsifiable hypothesis surviving tests. Use of commonly accepted methods need not produce a final conclusion or even a consensus on a particular question, given different tests, data sets, and prior beliefs.
Criticism based on professional standards and non-replicability of results serve as further checks against bias, errors, and over-generalization,[although much economic research has been accused of being non-replicable, and prestigious journals have been accused of not facilitating replication through the provision of the code and data. Like theories, uses of test statistics are themselves open to critical analysis, although critical commentary on papers in economics in prestigious journals such as the American Economic Review has declined precipitously in the past 40 years. This has been attributed to journals’ incentives to maximize citations in order to rank higher on the Social Science Citation Index (SSCI).
In applied economics, input-output models employing linear programming methods are quite common. Large amounts of data are run through computer programs to analyze the impact of certain policies; IMPLAN is one well-known example.
Experimental economics has promoted the use of scientifically controlled experiments. This has reduced long-noted distinction of economics from natural sciences allowed direct tests of what were previously taken as axioms. In some cases these have found that the axioms are not entirely correct; for example, the ultimatum game has revealed that people reject unequal offers.
In behavioral economics, psychologist Daniel Kahneman won the Nobel Prize in economics in 2002 for his and Amos Tversky’s empirical discovery of several cognitive biases and heuristics. Similar empirical testing occurs in neuroeconomics. Another example is the assumption of narrowly selfish preferences versus a model that tests for selfish, altruistic, and cooperative preferences. These techniques have led some to argue that economics is a “genuine science.”
Profession
Main article: Economist
The professionalization of economics, reflected in the growth of graduate programs on the subject, has been described as “the main change in economics since around 1900”. Most major universities and many colleges have a major, school, or department in which academic degrees are awarded in the subject, whether in the liberal arts, business, or for professional study.
In the private sector, professional economists are employed as consultants and in industry, including banking and finance. Economists also work for various government departments and agencies, for example, the national Treasury, Central Bank or Bureau of Statistics.
The Nobel Memorial Prize in Economic Sciences (commonly known as the Nobel Prize in Economics) is a prize awarded to economists each year for outstanding intellectual contributions in the field.
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English

International economics
International trade studies determinants of goods-and-services flows across international boundaries.

Ekonomi Internasional
Studi Perdagangan Internasional merupakan factor penentu barang – dan – jasa mengalir melintasi batas internasional .

It also concerns the size and distribution of gains from trade.

Hal ini juga menyangkut ukuran dan distribusi keuntungan dari perdagangan .

Policy applications include estimating the effects of changing tariff rates and trade quotas.

Aplikasi kebijakan termasuk memperkirakan efek dari perubahan tingkat tarif dan kuota perdagangan .

International finance is a macroeconomic field which examines the flow of capital across international borders, and the effects of these movements on exchange rates.

Keuangan internasional adalah bidang makroekonomi yang meneliti aliran modal lintas batas internasional ,dan efek dari gerakan tersebut pada nilai tukar .

Increased trade in goods, services and capital between countries is a major effect of contemporary globalization.

Peningkatan perdagangan barang ,jasa dan modal antar negara adalah efek utama globalisasi kontemporer .

The distinct field of development economics examines economic aspects of the economic development process in relatively low-income countries focusing on structural change, poverty, and economic growth.

Bidang yang berbedadariekonomipembangunanmenelitiaspek-aspekekonomidari proses pembangunanekonomi di negara-negaraberpenghasilanrelatifrendahberfokuspadaperubahanstruktural ,kemiskinan , danpertumbuhanekonomi .

Approaches in development economics frequently incorporate social and political factors.

Pendekatandalamekonomipembangunanseringmemasukkanfaktor-faktorsosialdanpolitik .

Economic systems is the branch of economics that studies the methods and institutions by which societies determine the ownership, direction, and allocation of economic resources.

Sistemekonomiadalahcabangdariilmuekonomi yang mempelajarimetodedaninstitusidimanamasyarakatmenentukankepemilikan ,arah , danalokasisumberdayaekonomi .

An economic system of a society is the unit of analysis.

Sebuahsistemekonomimasyarakatadalah unit analisis .

Among contemporary systems at different ends of the organizational spectrum are socialist systems and capitalist systems, in which most production occurs in respectively state-run and private enterprises.

Di antarasistemkontemporer di ujung yang berbedadarispektrumorganisasiadalahsistemsosialisdansistemkapitalis , di manasebagianbesarproduksiterjadipadamasing-masingdikelolanegaradanperusahaanswasta .

In between are mixed economies.

Di antaraadalahekonomicampuran .

A common element is the interaction of economic and political influences, broadly described as political economy.

Unsurumumadalahinteraksipengaruhekonomidanpolitik ,secaraluasdigambarkansebagaiekonomipolitik .

Comparative economic systems studies the relative performance and behavior of different economies or systems.

Sistemekonomikomparatifmempelajarikinerjarelatifdanperilakuekonomiatausistem yang berbeda.

Gross Domestic Product (GDP) or Economic Growth
Gross Domestic product means the total value of goods produced and services provided in a country in a year.

Produk Domestik Bruto (PDB) atau Pertumbuhan Ekonomi
ProdukDomestikBrutoberarti total nilaibarang yang diproduksidanlayanan yang disediakan di suatunegaradalamsatutahun.

GDP is customarily reported on annual basis.

GDP biasanyadilaporkansecaratahunan.

Practice
Contemporary economics uses mathematics. Economists draw on the tools of calculus, linear algebra, statistics, game theory, and computer science.

Praktek
Ekonomikontemporermenggunakanmatematika. Ekonommenarikpadaalatkalkulus, aljabar linear, statistik, teoripermainan, danilmukomputer.

Professional economists are expected to be familiar with these tools, while a minority specialize in econometrics and mathematical methods.

Ekonomprofesionaldiharapkanuntukmenjadiakrabdenganalatini, sementaraminoritasmengkhususkandiridalamekonometridanmetodematematika.

Theory
Mainstream economic theory relies upon a priori quantitative economic models, which employ a variety of concepts.

Teori
Teoriekonomi Mainstream bergantungpada model ekonomiapriorikuantitatif , yang menggunakanberbagaikonsep .

Teoriekonomi Mainstream bergantungpada model ekonomiapriorikuantitatif , yang menggunakanberbagaikonsep .

Teoribiasanyaberlangsungdenganasumsi ceteris paribus , yang berartimemegangvariabelpenjelaskonstanselain yang sedangdipertimbangkan .

When creating theories, the objective is to find ones which are at least as simple in information requirements, more precise in predictions, and more fruitful n generating additional research than prior theories.

Ketikamembuatteori ,tujuannyaadalahuntukmenemukan orang-orang yang setidaknyasamasederhanadalamkebutuhaninformasi , lebihtepatdalamprediksi , danlebihbermanfaatdalammenghasilkanpenelitiantambahandariteori-teorisebelumnya.

In microeconomics, principal concepts include supply and demand, marginalism, rational choice theory, opportunity cost, budget constraints, utility, and the theory of the firm.

Dalamekonomimikro ,konseputamatermasukpenawarandanpermintaan , batasan-batasan , teoripilihanrasional , biayakesempatan , keterbatasananggaran , utilitas , danteoriperusahaan .

Early macroeconomic models focused on modeling the relationships between aggregate variables, but as the relationships appeared to change over time macroeconomists, including new Keynesians, reformulated their models in microfoundations.

Model makroekonomiawaldifokuskanpadapemodelanhubunganantaravariabelagregat ,tetapisebagaihubungantampaknyaberubahdariwaktumakroekonomi , termasuk Keynesian baru , dirumuskan model mereka di dasarmikro .

The aforementioned microeconomic concepts play a major part in macroeconomic models – for instance, in monetary theory, the quantity theory of money predicts that increases in the money supply increase inflation, and inflation is assumed to be influenced by rational expectations.

Konsep-konsepekonomimikrotersebutmemainkanbagianpentingdalam model ekonomimakro – misalnya ,dalamteorimoneter , teorikuantitasuangmemprediksibahwakenaikanjumlahuangberedarmeningkatkaninflasi , daninflasidiasumsikandipengaruhiolehekspektasirasional .

In development economics, slower growth in developed nations has been sometimes predicted because of the declining marginal returns of investment and capital, and this has been observed in the Four Asian Tigers.

Dalamilmuekonomipembangunan, pertumbuhanlebihlambat di negaramajutelahkadang-kadangdiperkirakankarenamenurunnyakeuntungan marginal investasidanmodal ,daninitelahdiamati di EmpatMacan Asia .

Sometimes an economic hypothesis is only qualitative, not quantitative.

Kadang-kadanghipotesisekonomihanyakualitatif ,bukankuantitatif .

Expositions of economic reasoning often use two-dimensional graphs to illustrate theoretical relationships.

Eksposisipenalaranekonomiseringmenggunakangrafikduadimensiuntukmenggambarkanhubunganteoritis .

At a higher level of generality, Paul Samuelson’s treatise Foundations of Economic Analysis (1947) used mathematical methods to represent the theory, particularly as to maximizing behavioral relations of agents reaching equilibrium.

Padatingkat yang lebihtinggiumum , Paul Samuelson risalahYayasanAnalisisEkonomi ( 1947) menggunakanmetodematematikauntukmewakiliteori , khususnyauntukmemaksimalkanhubunganperilakuagenmencapaikeseimbangan .

The book focused on examining the class of statements called operationally meaningful theorems in economics, which are theorems that can conceivably be refuted by empirical data.

Bukuiniberfokuspadapemeriksaankelaslaporan yang disebutteoremaoperasionalberarti di bidangekonomi , yang merupakanteorema yang dapatdibayangkandibantaholeh data empiris.

Empirical investigation
Economic theories are frequently tested empirically, largely through the use of econometrics using economic data.

Investigasi Empiris
Teoriekonomiseringdiujisecaraempiris ,terutamamelaluipenggunaanekonometrimenggunakan data ekonomi .

The controlled experiments common to the physical sciences are difficult and uncommon in economics,and instead broad data is observationally studied; this type of testing is typically regarded as less rigorous than controlled experimentation, and the conclusions typically more tentative.

Eksperimen yang terkontrolumumuntukilmu-ilmufisiksulitdanjarang di bidangekonomi ,dan data, bukanluasadalahobservasionaldipelajari ; jenispengujianbiasanyadianggapkurangketatdaripadaeksperimenterkontrol , dankesimpulanbiasanyalebihtentatif .

However, the field of experimental economics is growing, and increasing use is being made of natural experiments.

Namun, bidangekonomieksperimentalberkembang ,danmeningkatnyapenggunaansedangterbuatdarieksperimenalami .

Statistical methods such as regression analysis are common.

Metodestatistiksepertianalisisregresi yang umum .

Practitioners use such methods to estimate the size, economic significance, and statistical significance (“signal strength”) of the hypothesized relation(s) and to adjust for noise from other variables.

Praktisimenggunakanmetodetersebutuntukmemperkirakanukuran ,signifikansiekonomi , dansignifikansistatistik ( ” kekuatansinyal ” ) darihubunganhipotesis ( s ) danuntukmenyesuaikansuaradarivariabel lain .

By such means, a hypothesis may gain acceptance, although in a probabilistic, rather than certain, sense.

Dengancarasepertiitu, hipotesismungkinmendapatkanpenerimaan ,meskipundalamartiprobabilistik , bukantertentu .

Acceptance is dependent upon the falsifiable hypothesis surviving tests.

Penerimaantergantungpadahipotesisdifalsifikasibertahantes .

Use of commonly accepted methods need not produce a final conclusion or even a consensus on a particular question, given different tests, data sets, and prior beliefs.

Penggunaanmetode yang umumditerimatidakperlumenghasilkankesimpulanakhirataubahkankonsensuspadapertanyaantertentu ,diberikantes yang berbeda , data set , dankeyakinansebelumnya .

Criticism based on professional standards and non-replicability of results serve as further checks against bias, errors, and over-generalization,[although much economic research has been accused of being non-replicable, and prestigious journals have been accused of not facilitating replication through the provision of the code and data.

Kritikberdasarkanstandarprofesionaldan non – peniruandarihasilpemeriksaanberfungsisebagailebihlanjutterhadap bias, kesalahan ,dan over- generalisasi , [ meskipunpenelitianekonomibanyak yang telahdituduh non – direplikasi , danjurnalbergengsitelahdituduhtidakmemfasilitasireplikasimelaluipenyediaankodedan data.

Like theories, uses of test statistics are themselves open to critical analysis, although critical commentary on papers in economics in prestigious journals such as the American Economic Review has declined precipitously in the past 40 years.

Sepertiteori ,penggunaanstatistikujiitusendiriterbukauntukanalisiskritis , meskipunkomentarkritispadakertas di bidangekonomidalamjurnalbergengsiseperti American Economic Review telahmenurundrastisdalam 40 tahunterakhir .

This has been attributed to journals’ incentives to maximize citations in order to rank higher on the Social Science Citation Index (SSCI).

Initelahdikaitkandenganinsentifjurnal ‘ untukmemaksimalkankutipanuntukperingkatlebihtinggipada Citation Index IlmuSosial( SSCI ) .

In applied economics, input-output models employing linear programming methods are quite common.

Dalamekonomiterapan , model input-output menggunakanmetodepemrograman linear cukupumum .

Large amounts of data are run through computer programs to analyze the impact of certain policies; IMPLAN is one well-known example.

Sejumlahbesar data dijalankanmelalui program komputeruntukmenganalisisdampakkebijakantertentu ;Implanmerupakansalahsatucontoh yang terkenal .

Experimental economics has promoted the use of scientifically controlled experiments.

Ekonomieksperimentaltelahmempromosikanpenggunaaneksperimenilmiahterkontrol .

This has reduced long-noted distinction of economics from natural sciences allowed direct tests of what were previously taken as axioms. In some cases these have found that the axioms are not entirely correct; for example, the ultimatum game has revealed that people reject unequal offers.

Hal initelahmengurangiperbedaanpanjangdicatatekonomidariilmualamdiperbolehkanteslangsungdariapa yang sebelumnyadiambilsebagaiaksioma .Dalambeberapakasusinitelahmenemukanbahwaaksioma yang tidaksepenuhnyabenar ;misalnya , permainan ultimatum telahmengungkapkanbahwa orang-orang menolakpenawaran yang tidaksama .

In behavioral economics, psychologist Daniel Kahneman won the Nobel Prize in economics in 2002 for his and Amos Tversky’s empirical discovery of several cognitive biases and heuristics. Similar empirical testing occurs in neuroeconomics.

Dalamilmuekonomiperilaku , psikolog Daniel KahnemanmemenangkanHadiah Nobel di bidangekonomipadatahun 2002 untukpenemuanempirisdan Amos Tverskytentangbeberapa bias kognitifdanheuristik . Pengujianempirisserupaterjadi di Neuroekonomi .

Another example is the assumption of narrowly selfish preferences versus a model that tests for selfish, altruistic, and cooperative preferences.

Contoh lain adalahasumsipreferensisempitegoisdibandingkan model yang mengujipreferensi yang mementingkandirisendiri ,altruistik , dankooperatif .

These techniques have led some to argue that economics is a “genuine science.”

Teknik-teknikinitelahmembuatbeberapa orang berpendapatbahwaekonomiadalah” ilmusejati . “

Profession
The professionalization of economics, reflected in the growth of graduate programs on the subject, has been described as “the main change in economics since around 1900”.

Profesi
Profesionalisasiekonomi, tercermindalampertumbuhan program pascasarjanatentangtopikini, telahdigambarkansebagai “perubahanutama di bidangekonomisejaksekitartahun 1900”.

Most major universities and many colleges have a major, school, or department in which academic degrees are awarded in the subject, whether in the liberal arts, business, or for professional study.

Sebagianbesaruniversitasbesardanbanyakperguruantinggimemilikibesar, sekolah, ataudepartemen di managelarakademikdiberikandalamsubjek, baikdalamseni liberal, bisnis, atauuntukstudiprofesional.

In the private sector, professional economists are employed as consultants and in industry, including banking and finance.

Di sektorswasta, ekonomprofesional yang bekerjasebagaikonsultandanindustri, termasukperbankandankeuangan.

Economists also work for various government departments and agencies, for example, the national Treasury, Central Bank or Bureau of Statistics.

Para ekonomjugabekerjauntukberbagaidepartemendaninstansipemerintah, misalnya, Treasury nasional, Bank Sentralatau Biro Statistik.

The Nobel Memorial Prize in Economic Sciences (commonly known as the Nobel Prize in Economics) is a prize awarded to economists each year for outstanding intellectual contributions in the field.

The Nobel Memorial Prize dalamIlmuEkonomi (umumnyadikenalsebagaiHadiah Nobel di bidangEkonomi) adalahhadiah yang diberikankepadaekonomsetiaptahununtukkontribusiintelektual yang luarbiasa di lapangan.

 

Syarifa Nur / 16611621 / 3SA04

Komunikasi Bisnis #

Related subjects
Main articles: Law and Economics, Natural resource economics, Philosophy and economics, and Political economy

Economics is one social science among several and has fields bordering on other areas, including economic geography, economic history, public choice, energy economics, cultural economics, family economics and institutional economics.
Law and economics, or economic analysis of law, is an approach to legal theory that applies methods of economics to law. It includes the use of economic concepts to explain the effects of legal rules, to assess which legal rules are economically efficient, and to predict what the legal rules will be. A seminal article by Ronald Coase published in 1961 suggested that well-defined property rights could overcome the problems of externalities.
Political economy is the interdisciplinary study that combines economics, law, and political science in explaining how political institutions, the political environment, and the economic system (capitalist, socialist, mixed) influence each other. It studies questions such as how monopoly, rent-seeking behavior, and externalities should impact government policy. Historians have employed political economy to explore the ways in the past that persons and groups with common economic interests have used politics to effect changes beneficial to their interests.
Energy economics is a broad scientific subject area which includes topics related to energy supply and energy demand. Georgescu-Roegen reintroduced the concept of entropy in relation to economics and energy from thermodynamics, as distinguished from what he viewed as the mechanistic foundation of neoclassical economics drawn from Newtonian physics. His work contributed significantly to thermoeconomics and to ecological economics. He also did foundational work which later developed into evolutionary economics.
The sociological subfield of economic sociology arose, primarily through the work of Émile Durkheim, Max Weber and Georg Simmel, as an approach to analysing the effects of economic phenomena in relation to the overarching social paradigm (i.e. modernity). Classic works include Max Weber’s The Protestant Ethic and the Spirit of Capitalism (1905) and Georg Simmel’s The Philosophy of Money (1900). More recently, the works of Mark Granovetter, Peter Hedstrom and Richard Swedberg have been influential in this field.
History
Main articles: History of economic thought and History of macroeconomic thought
Economic writings date from earlier Mesopotamian, Greek, Roman, Indian subcontinent, Chinese, Persian, and Arab civilizations. Notable writers from antiquity through to the 14th century include Aristotle, Xenophon, Chanakya (also known as Kautilya), Qin Shi Huang, Thomas Aquinas, and Ibn Khaldun. The works of Aristotle had a profound influence on Aquinas, who in turn influenced the late scholastics of the 14th to 17th centuries. Joseph Schumpeter described the latter as “coming nearer than any other group to being the ‘founders’ of scientific economics” as to monetary, interest, and value theory within a natural-law perspective.[108][not in citation given]

250px-Lorrain.seaport

 

 

 

 

 

A 1638 painting of a French seaport during the heyday of mercantilism.
Two groups, later called “mercantilists” and “physiocrats”, more directly influenced the subsequent development of the subject. Both groups were associated with the rise of economic nationalism and modern capitalism in Europe. Mercantilism was an economic doctrine that flourished from the 16th to 18th century in a prolific pamphlet literature, whether of merchants or statesmen. It held that a nation’s wealth depended on its accumulation of gold and silver. Nations without access to mines could obtain gold and silver from trade only by selling goods abroad and restricting imports other than of gold and silver. The doctrine called for importing cheap raw materials to be used in manufacturing goods, which could be exported, and for state regulation to impose protective tariffs on foreign manufactured goods and prohibit manufacturing in the colonies.
Physiocrats, a group of 18th century French thinkers and writers, developed the idea of the economy as a circular flow of income and output. Physiocrats believed that only agricultural production generated a clear surplus over cost, so that agriculture was the basis of all wealth. Thus, they opposed the mercantilist policy of promoting manufacturing and trade at the expense of agriculture, including import tariffs. Physiocrats advocated replacing administratively costly tax collections with a single tax on income of land owners. In reaction against copious mercantilist trade regulations, the physiocrats advocated a policy of laissez-faire, which called for minimal government intervention in the economy.
Modern economic analysis is customarily said to have begun with Adam Smith (1723–1790). Smith was harshly critical of the mercantilists but described the physiocratic system “with all its imperfections” as “perhaps the purest approximation to the truth that has yet been published” on the subject.
Classical political economy
Main article: Classical economics

170px-AdamSmith

 

 

 

 

 

 

 

The publication of Adam Smith’s The Wealth of Nations in 1776 is considered to be the first formalisation of economic thought.
The publication of Adam Smith’s The Wealth of Nations in 1776, has been described as “the effective birth of economics as a separate discipline.”The book identified land, labor, and capital as the three factors of production and the major contributors to a nation’s wealth, as distinct from the Physiocratic idea that only agriculture was productive.
Smith discusses potential benefits of specialization by division of labour, including increased labour productivity and gains from trade, whether between town and country or across countries. His “theorem” that “the division of labor is limited by the extent of the market” has been described as the “core of a theory of the functions of firm and industry” and a “fundamental principle of economic organization.”To Smith has also been ascribed “the most important substantive proposition in all of economics” and foundation of resource-allocation theory – that, under competition, resource owners (of labour, land, and capital) seek their most profitable uses, resulting in an equal rate of return for all uses in equilibrium (adjusted for apparent differences arising from such factors as training and unemployment).
In an argument that includes “one of the most famous passages in all economics,” Smith represents every individual as trying to employ any capital they might command for their own advantage, not that of the society, and for the sake of profit, which is necessary at some level for employing capital in domestic industry, and positively related to the value of produce. In this:
He generally, indeed, neither intends to promote the public interest, nor knows how much he is promoting it. By preferring the support of domestic to that of foreign industry, he intends only his own security; and by directing that industry in such a manner as its produce may be of the greatest value, he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention. Nor is it always the worse for the society that it was no part of it. By pursuing his own interest he frequently promotes that of the society more effectually than when he really intends to promote it.
Economists have linked Smith’s invisible-hand concept to his concern for the common man and woman through economic growth and development, enabling higher levels of consumption, which Smith describes as “the sole end and purpose of all production.” He embeds the “invisible hand” in a framework that includes limiting restrictions on competition and foreign trade by government and industry in the same chapter and elsewhere regulation of banking and the interest rate, provision of a “natural system of liberty” — national defence, an egalitarian justice and legal system, and certain institutions and public works with general benefits to the whole society that might otherwise be unprofitable to produce, such as education and roads, canals, and the like. An influential introductory textbook includes parallel discussion and this assessment: “Above all, it is Adam Smith’s vision of a self-regulating invisible hand that is his enduring contribution to modern economics.”
The Rev. Thomas Robert Malthus (1798) used the idea of diminishing returns to explain low living standards. Human population, he argued, tended to increase geometrically, outstripping the production of food, which increased arithmetically. The force of a rapidly growing population against a limited amount of land meant diminishing returns to labour. The result, he claimed, was chronically low wages, which prevented the standard of living for most of the population from rising above the subsistence level. Economist Julian Lincoln Simon has criticised Malthus’s conclusions.
While Adam Smith emphasized the production of income, David Ricardo (1817) focused on the distribution of income among landowners, workers, and capitalists. Ricardo saw an inherent conflict between landowners on the one hand and labour and capital on the other. He posited that the growth of population and capital, pressing against a fixed supply of land, pushes up rents and holds down wages and profits. Ricardo was the first to state and prove the principle of comparative advantage, according to which each country should specialize in producing and exporting goods in that it has a lower relative cost of production, rather relying only on its own production. It has been termed a “fundamental analytical explanation” for gains from trade.
Coming at the end of the Classical tradition, John Stuart Mill (1848) parted company with the earlier classical economists on the inevitability of the distribution of income produced by the market system. Mill pointed to a distinct difference between the market’s two roles: allocation of resources and distribution of income. The market might be efficient in allocating resources but not in distributing income, he wrote, making it necessary for society to intervene.
Value theory was important in classical theory. Smith wrote that the “real price of every thing … is the toil and trouble of acquiring it” as influenced by its scarcity. Smith maintained that, with rent and profit, other costs besides wages also enter the price of a commodity. Other classical economists presented variations on Smith, termed the ‘labour theory of value’. Classical economics focused on the tendency of markets to move to long-run equilibrium.
Marxism
Main article: Marxian economics

170px-Karl_Marx_001

 

 

 

 

 

 

 

The Marxist school of economic thought comes from the work of German economist Karl Marx.
Marxist (later, Marxian) economics descends from classical economics. It derives from the work of Karl Marx. The first volume of Marx’s major work, Das Kapital, was published in German in 1867. In it, Marx focused on the labour theory of value and the theory of surplus value which, he believed, explained the exploitation of labour by capital. The labour theory of value held that the value of an exchanged commodity was determined by the labour that went into its production and the theory of surplus value demonstrated how the workers only got paid a proportion of the value their work had created. The U.S. Export-Import Bank defines a Marxist-Lenninist state as having a centrally planned economy. They are now rare, examples can still be seen in Cuba, North Korea and Laos.
Neoclassical economics
Main article: Neoclassical economics
A body of theory later termed “neoclassical economics” or “marginalism” formed from about 1870 to 1910. The term “economics” was popularized by such neoclassical economists as Alfred Marshall as a concise synonym for ‘economic science’ and a substitute for the earlier “political economy”. This corresponded to the influence on the subject of mathematical methods used in the natural sciences.
Neoclassical economics systematized supply and demand as joint determinants of price and quantity in market equilibrium, affecting both the allocation of output and the distribution of income. It dispensed with the labour theory of value inherited from classical economics in favor of a marginal utility theory of value on the demand side and a more general theory of costs on the supply side. In the 20th century, neoclassical theorists moved away from an earlier notion suggesting that total utility for a society could be measured in favor of ordinal utility, which hypothesizes merely behavior-based relations across persons.
In microeconomics, neoclassical economics represents incentives and costs as playing a pervasive role in shaping decision making. An immediate example of this is the consumer theory of individual demand, which isolates how prices (as costs) and income affect quantity demanded. In macroeconomics it is reflected in an early and lasting neoclassical synthesis with Keynesian macroeconomics.
Neoclassical economics is occasionally referred as orthodox economics whether by its critics or sympathizers. Modern mainstream economics builds on neoclassical economics but with many refinements that either supplement or generalize earlier analysis, such as econometrics, game theory, analysis of market failure and imperfect competition, and the neoclassical model of economic growth for analyzing long-run variables affecting national income.
Keynesian economics
Main articles: Keynesian economics and Post-Keynesian economics

WhiteandKeynes

 

 

 

 

 

 

John Maynard Keynes (right), was a key theorist in economics.
Keynesian economics derives from John Maynard Keynes, in particular his book The General Theory of Employment, Interest and Money (1936), which ushered in contemporary macroeconomics as a distinct field. The book focused on determinants of national income in the short run when prices are relatively inflexible. Keynes attempted to explain in broad theoretical detail why high labour-market unemployment might not be self-correcting due to low “effective demand” and why even price flexibility and monetary policy might be unavailing. The term “revolutionary” has been applied to the book in its impact on economic analysis.
Keynesian economics has two successors. Post-Keynesian economics also concentrates on macroeconomic rigidities and adjustment processes. Research on micro foundations for their models is represented as based on real-life practices rather than simple optimizing models. It is generally associated with the University of Cambridge and the work of Joan Robinson.
New-Keynesian economics is also associated with developments in the Keynesian fashion. Within this group researchers tend to share with other economists the emphasis on models employing micro foundations and optimizing behavior but with a narrower focus on standard Keynesian themes such as price and wage rigidity. These are usually made to be endogenous features of the models, rather than simply assumed as in older Keynesian-style ones.
Chicago school of economics
Main article: Chicago school (economics)
The Chicago School of economics is best known for its free market advocacy and monetarist ideas. According to Milton Friedman and monetarists, market economies are inherently stable if the money supply does not greatly expand or contract. Ben Bernanke, current Chairman of the Federal Reserve, is among the economists today generally accepting Friedman’s analysis of the causes of the Great Depression.
Milton Friedman effectively took many of the basic principles set forth by Adam Smith and the classical economists and modernized them. One example of this is his article in the September 1970 issue of The New York Times Magazine, where he claims that the social responsibility of business should be “to use its resources and engage in activities designed to increase its profits … (through) open and free competition without deception or fraud.”
Other schools and approaches
Main article: Schools of economics
Other well-known schools or trends of thought referring to a particular style of economics practiced at and disseminated from well-defined groups of academicians that have become known worldwide, include the Austrian School, the Freiburg School, the School of Lausanne, post-Keynesian economics and the Stockholm school. Contemporary mainstream economics is sometimes separated into the Saltwater approach of those universities along the Eastern and Western coasts of the US, and the Freshwater, or Chicago-school approach.
Within macroeconomics there is, in general order of their appearance in the literature; classical economics, Keynesian economics, the neoclassical synthesis, post-Keynesian economics, monetarism, new classical economics, and supply-side economics. Alternative developments include ecological economics, constitutional economics, institutional economics, evolutionary economics, dependency theory, structuralist economics, world systems theory, econophysics, feminist economics and biophysical economics.
Sumber : http://www.google.co.id/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&ved=0CDQQFjAA&url=http%3A%2F%2Fen.wikipedia.org%2Fwiki%2FEconomics&ei=UGpFU8m4MYmulQXjhoDwCQ&usg=AFQjCNEllQS_52YcNz89BLy-kSzawWgNxg

Related Subjects

English
Economics is one social science among several and has fields bordering on other areas, including economic geography,
Economic history, public choic, energy economics, cultural economics and institutional economics

Indonesia
Ekonomi adalah ilmu social satu dari beberapa di antara yang memiliki bidang yang berbatasan dengan daerah lain, termasuk geografi ekonomi,
sejarah ekonomi, pilihan umum, energi ekonomi, budaya ekonomi, ekonomi keluarga dan ekonomi.

political economy is the interdisciplinary study that combines economics, law, and political science in explaining how political institutions,

Ekonomi politik adalah studi antar disiplin yang menggabungkan ilmu ekonomi, hukum dan ilmu politik dalam menjelaskan bagaimana politik

the political environment, and the economic system (capitalist, socialist, mixed) influence each other.

Lembaga lingkungan politik dan sistem ekonomi (kapitalis, social, campuran) mempengaruhi satu sama lain.

History of economic thought and History of macroeconomic thought
Economic writings date from earlier Mesopotamian, Greek, Roman, Indian subcontinent, Chinese, Persian, and Arab civilizations

Sejarah pemikiran ekonomi dan sejarah pemikiran ekonomi makro
Ekonomi sebelumnya berasal dari Mesopotamia, Yunani, Romawi, India benua, Cina, Persia dan peradaban Arab.

Notable writers from antiquity through to the 14th century include Aristotle, Xenophon, Chanakya (also known as Kautilya), Qin Shi Huang, Thomas Aquinas, and Ibn Khaldun

Penulis terkenal dari zaman kuno melalui abad ke-14 meliputi Aristoteles, Xenophon, Sun Tzu (juga dikenal sebagai Kautilya), Qin Shi Huang, Thomas Aquinas dan Ibnu Khaldun

The works of Aristotle had a profound influence on Aquinas, who in turn influenced the late scholastics of the 14th to 17th centuries.

Karya-karya Aristoteles sangat mempengaruhi karya pada Aquinas, yang pada gilirannya mempengaruhi bidang pelajarannya membentuk akhir pada abad 14-17.

Two groups, later called “mercantilists” and “physiocrats”, more directly influenced the subsequent development of the subject. Both groups were associated with the rise of economic nationalism and modern capitalism in Europe

Dua kelompok, yang kemudian disebut “mercantilists” dan “physiocrats”, lebih langsung mempengaruhi perkembangan berikutnya. Kedua kelompok dikaitkan dengan munculnya ekonomi nasionalisme dan kapitalisme modern di Eropa

Mercantilism was an economic doctrine that flourished from the 16th to 18th century in a prolific pamphlet literature, whether of merchants or statesmen. It held that a nation’s wealth depended on its accumulation of gold and silver.

Merkantilisme adalah doktrin ekonomi yang berkembang dari abad ke-16 hingga 18 dalam literatur produktif pamflet, apakah dari pedagang atau negarawan. Hal ini diselenggarakan bahwa kekayaan bangsa bergantung pada akumulasi dari emas dan perak.

Nations without access to mines could obtain gold and silver from trade only by selling goods abroad and restricting imports other than of gold and silver

Bangsa-bangsa tanpa akses ke tambang bisa mendapatkan emas dan perak dari perdagangan hanya dengan menjual barang-barang luar negeri dan membatasi impor lain daripada emas dan perak

The doctrine called for importing cheap raw materials to be used in manufacturing goods,

Doktrin disebut untuk mengimpor bahan baku murah untuk digunakan dalam pembuatan barang-barang,

which could be exported, and for state regulation to impose protective tariffs on foreign manufactured goods and prohibit manufacturing in the colonies.

yang bisa diekspor, dan peraturan negara untuk memaksakan pada barang-barang manufaktur asing tarif pelindung dan melarang manufaktur di koloni.

Modern economic analysis is customarily said to have begun with Adam Smith (1723–1790).

Analisis ekonomi modern bermula dengan Adam Smith (1723-1790).

Smith was harshly critical of the mercantilists but described the physiocratic system “with all its imperfections” as “perhaps the purest approximation to the truth that has yet been published” on the subject.

Smith dengan kasar mengkritik mercantilists tapi menggambarkan sistem physiocratic “dengan semua ketidaksempurnaan” sebagai “mungkin pendekatan yang paling murni kebenaran yang belum diterbitkan” pada subjek.

Tiara Nurmalita / 17611102 / 3SA04
Komunikasi Bisnis #
What are the fields in economics?
Economists organize their discipline in fields from agricultural economics to urban economics. Many economists specialize in a field by publishing original essays on topics and teaching courses in a specific field.
The fields are in two sets: Those that develop core skills and those that emphasize application of the skills in specific settings. The core itself involves two modes of analysis. The Skills page gives simple examples. First, mathematical description of economic phenomena allows derivation of relationships. This mode of thought is called economic theory. Mathematics allows arguing by deductive reasoning from stated premises to a conclusion. It offers the internal consistency of mathematical proofs but requires no evidence of applicability.
The second core method looks for evidence based on observing economic phenomena. It draws inference from persistent patterns. A consistent pattern that is distinct from the complexity and randomness in nature is likely to have meaning. This mode of thought is called inductive reasoning. It is the mode of analysis of economic historians, statisticians, and experimenters. The study of formal methods for drawing inferences from statistical evidence in economics is called econometrics.
Many advances in economic understanding come from the interaction between deduction and induction. When mathematical analysis yields new insights, the historians, statisticians, and experimenters look for ways to judge whether available evidence is consistent with the theory. When observation shows phenomena that are inconsistent with available theories, economic theorists look for new theories. The core fields are in item C on the list of fields shown below.
Most economists concentrate their work and teaching in an applied field, that is, in the other categories shown below. They study the history of the phenomena and adapt the core theoretical ideas of economics to offer explanations. They develop a variety of methods to observe and measure events and apply econometric methods to test hypotheses. For example, international economists study the history of trade, balance of payments, and exchange rates. They will understand both the economic theories and the econometric findings that explain international economic phenomena.
The fields of economics, however, have fuzzy boundaries because economic events are interconnected. Every transaction has a buyer and a seller; each economic event has extended consequences. A change in a wage rate will affect the cost of the goods the workers produce as well as change the income and consumption patterns of the workers’ households. An economist working in one field will be aware of connections to the rest of the economy.
The fields of economics, then, are more signposts than fences. They include the core areas of mathematical and statistical methods as well as the many arenas in which the core methods are applied. Most undergraduate Programs include study in the core fields and in a selection of applied fields. The standard classification of economic fields given below appears in the Journal of Economic Literature . These field labels provide enduring markers on the terrain of economic thought.
Journal of Economic Literature Classification of Fields
A. General Economics and Teaching — The principles course in the economics curriculum develops core ideas. The course also provides the big picture of how individual economic events fit together to shape aggregate outcomes. Mastering basic ideas and getting a sense of how the parts fit into the whole is an essential entry point to the study of other fields and more advanced ideas in economics. The A category also includes discussion of the teaching of economics.
B. Schools of Economic Thought and Methodology — Economists who study the history of economic thought investigate how the core ideas in economics have developed.
C. Mathematical and Quantitative Methods — Econometricians develop methods to measure economic phenomena. They apply the scientific method by formulating hypotheses, gathering evidence, and judging whether the evidence is consistent with the hypotheses. Mathematical economists develop tools for finding optimal solutions to economic problems and advance ideas in game theory. Game theory is the method for analyzing how one player chooses strategies in light of knowledge of the possible strategies a rival might choose. Game theory is used to analyze many economic phenomena including the interaction between firms. In recent decades, experimental economists have tested economic theories in laboratories and in the field.
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D. Microeconomics — Studying how markets function and the role of prices is of central concern in understanding economics. Investigation of the behavior of individual households, firms, and prices and quantities of specific products like automobiles is called microeconomics. Behavioral economists study the cognitive and emotional dimensions of economic decisions.
E. Macroeconomics and Monetary Economics — The actions of individuals sum to the total activity in a whole economy. In the aggregate, the total amount of products consumed by households and firms must equal the total amount produced. The total amount firms pay to workers and investors must equal the amount households receive in income. Study of the aggregate relationships in an economy is called macroeconomics. Economic growth, the role of money and interest rates, and changes in the overall level of prices and the aggregate level of unemployment are central concerns of macroeconomics.
F. International Economics — International economists study trade among nations and the flow of finance across international borders. Globalization and the deficit in the U.S. balance of payments with other countries are current concerns.
G. Financial Economics — Financial economists study the process of saving and investing with a specific concern for how individuals and firms deal with risk.
H. Public Economics — Public finance economists consider the role of government in the economy. Some focus on evaluating government programs and others focus on the design of tax systems. Public finance economists are also interested in how the political process makes decisions. Issues of national security and defense appear here as well the study of state and local governments.
I. Health, Education, and Welfare — Some economists focus on the markets and government policies that directly shape access to health care. Others focus on schools and educational policies. Still others consider the economic circumstances of the poor and evaluate alternative government programs to improve the well-being of the poor.
J. Labor and Demographic Economics — Labor economists study employers’ decisions to hire workers and employees’ decisions to work. They study how wages are set, the nature of incentives workers face, and the role of minimum wage laws, unions, pensions plans, and training programs. They are also interested in the formation of families, determinants of birth rates, migration, population change, and aging.
K. Law and Economics — Some economists use the tools of economics to study the incentives for human behavior that are defined by the legal system. Property rights, for example, are essential for markets to work well but they can be defined in a variety of ways that have different effects on the well-being of people.
L. Industrial Organization — IO is the study of individual markets, the nature of competition, and the role of prices. Some economists study issues in anti-trust policy. Others study the role of advertising, pricing policies, and how costs vary with the scale of operations. Some IO economists investigate particular industries such as appliances, software, and electricity. In the last decade a number of economists have studied economic issues in sports, recreation, and tourism.
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M. Business Administration and Business Economics, Marketing, Accounting — Business economists study decisions made by firms. How do firms maximize profit? What prices should they set and how much should they produce? What is the role of incentives within the firm, of entrepreneurship, and leadership?
N. Economic History — Economic historians explore changes in economic well-being and how economic institutions have developed. The emergence of markets, the forces shaping the industrial revolution, the sources of improvements in agricultural productivity, the influence of railroads and other new technologies provide perspective on current economic issues.
O. Economic Development, Technical Change, and Growth — Economists who are interested in the development of economies often focus on third world countries. Why have some countries developed while others have not? How might the industrialized countries improve the prospects for development around the world? Who gains and who loses with industrialization?
P. Economic Systems — Analysts compare the capital market system to the various forms of socialism and the transition from centrally planned to more market-based economic systems. Economists sometimes address issues in specific countries like China, Cuba, and Poland.
Q. Agricultural and Natural Resource Economics, Environmental and Ecological Economics — Economists study farming, fishery, and forests with a focus on prices, markets, and changing technologies. Natural resource economists study markets for energy (oil, coal, and electricity) and mineral resources. Economists have played an important role in the evolution of policies to promote clean air, water, and land.
R. Urban, Rural, and Regional Economics — Economists analyze the location decisions of households and firms and the associated issues in housing, transportation, and local government.
Y. Miscellaneous Categories — Data, dissertations, and book reviews are classified here.
Z. Other Special Topics — Other special topics include the economics of the arts, religion, and culture.
Each major field defined in the JEL has several subfields. Search for the field and subfield terms in Wikipedia and Google for more information about each.
Economists add to our collective knowledge by publishing new work in each of the fields above as explained in the finding facts & ideas page. Some of the latest work addresses issues of significant current interest.
Sumber : http://www.google.co.id/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&ved=0CDQQFjAA&url=http%3A%2F%2Fwww.aeaweb.org%2Fstudents%2FFields.php&ei=ijBZU5bONs3y8QXK_oH4Aw&usg=AFQjCNGXxezwzP4o-8CGIU0OvO6hFfHq_w&bvm=bv.65397613,d.dGc

English

What are the fields in economics?

Economists organize their discipline in fields from agricultural economics to urban economics. Many economists specialize in a field by publishing original essays on topics and teaching courses in a specific field.

The fields are in two sets: Those that develop core skills and those that emphasize application of the skills in specific settings. The core itself involves two modes of analysis. The Skills page gives simple examples. First, mathematical description of economic phenomena allows derivation of relationships. This mode of thought is called economic theory. Mathematics allows arguing by deductive reasoning from stated premises to a conclusion. It offers the internal consistency of mathematical proofs but requires no evidence of applicability.

Apa saja contoh-contoh bidang ekonomi ?

Para ahli ilmu Ekonomi mengatur kedisiplinan mereka dalam bidang ekonomi pertanian ke ekonomi perkotaan . Banyak ahli ekonomi dalam bidang dengan menerbitkan karangan asli pada beberapa topik dan kursus mengajar di bidang tertentu .

Bidang- bidang tersebut terdiri dari dua bagian : Mereka yang mengembangkan keterampilan inti dan orang-orang yang menekankan penerapan keterampilan dalam pengaturan khusus . Inti itu sendiri melibatkan dua mode analisis . Pada bagian halaman keterampilan tersebut memberikan contoh sederhana . Pertama , deskripsi matematis dari fenomena ekonomi memungkinkan asal mula dari hubungan . Ini yang disebut cara berpikir teori ekonomi . Matematika memungkinkan bertolak belakang dengan penalaran deduktif yang berasal dari dasar fikiran untuk sebuah kesimpulan . Hal ini memberikan konsistensi internal bukti matematika tetapi tidak memerlukan bukti penerapan .

The second core method looks for evidence based on observing economic phenomena. It draws inference from persistent patterns. A consistent pattern that is distinct from the complexity and randomness in nature is likely to have meaning. This mode of thought is called inductive reasoning. It is the mode of analysis of economic historians, statisticians, and experimenters. The study of formal methods for drawing inferences from statistical evidence in economics is called econometrics.

Many advances in economic understanding come from the interaction between deduction and induction. When mathematical analysis yields new insights, the historians, statisticians, and experimenters look for ways to judge whether available evidence is consistent with the theory. When observation shows phenomena that are inconsistent with available theories, economic theorists look for new theories. The core fields are in item C on the list of fields shown below.

Metode inti kedua mencari bukti berdasarkan pengamatan fenomena ekonomi . Ia menarik kesimpulan dari pola persisten . Sebuah pola yang konsisten yang berbeda dari kompleksitas dan keacakan di alam cenderung memiliki makna . Ini cara berpikir yang disebut penalaran induktif . Ini adalah modus analisis sejarawan ekonomi , statistik , dan peneliti . Studi tentang metode formal untuk menarik kesimpulan dari bukti statistik di bidang ekonomi disebut ekonometrik .

Banyak kemajuan dalam pemahaman ekonomi berasal dari interaksi antara deduksi dan induksi . Ketika analisis matematis menghasilkan wawasan baru, sejarawan , ahli statistik , dan peneliti mencari cara untuk menilai apakah bukti yang ada konsisten dengan teori . Ketika pengamatan menunjukkan fenomena yang tidak sesuai dengan teori yang ada, teori ekonomi mencari teori-teori baru . Bidang inti dalam butir C pada daftar bidang di bawah ini.

Most economists concentrate their work and teaching in an applied field, that is, in the other categories shown below. They study the history of the phenomena and adapt the core theoretical ideas of economics to offer explanations. They develop a variety of methods to observe and measure events and apply econometric methods to test hypotheses. For example, international economists study the history of trade, balance of payments, and exchange rates. They will understand both the economic theories and the econometric findings that explain international economic phenomena.

Sebagian besar ekonom berkonsentrasi bekerja dan mengajar mereka dalam bidang yang diterapkan , yaitu , dalam kategori lain yang ditunjukkan di bawah ini. Mereka mempelajari sejarah fenomena dan mengadaptasi ide-ide teoritis inti ekonomi untuk memberikan penjelasan . Mereka mengembangkan berbagai metode untuk mengamati dan mengukur peristiwa dan menerapkan metode ekonometrik untuk menguji hipotesis . Sebagai contoh, ekonom internasional mempelajari sejarah perdagangan , neraca pembayaran , dan nilai tukar . Mereka akan memahami baik teori-teori ekonomi dan temuan ekonometrik yang menjelaskan fenomena ekonomi internasional .

The fields of economics, however, have fuzzy boundaries because economic events are interconnected. Every transaction has a buyer and a seller; each economic event has extended consequences. A change in a wage rate will affect the cost of the goods the workers produce as well as change the income and consumption patterns of the workers’ households. An economist working in one field will be aware of connections to the rest of the economy.

The fields of economics, then, are more signposts than fences. They include the core areas of mathematical and statistical methods as well as the many arenas in which the core methods are applied. Most undergraduate Programs include study in the core fields and in a selection of applied fields. The standard classification of economic fields given below appears in the Journal of Economic Literature . These field labels provide enduring markers on the terrain of economic thought.
Journal of Economic Literature Classification of Fields

Bidang ekonomi , bagaimanapun, memiliki batas-batas yang tidak jelas karena peristiwa-peristiwa ekonomi yang saling berhubungan . Setiap transaksi memiliki pembeli dan penjual ; setiap peristiwa ekonomi telah memperluas konsekuensi . Perubahan tingkat upah akan mempengaruhi biaya barang pekerja memproduksi serta mengubah pola pendapatan dan konsumsi rumah tangga pekerja . Seorang ekonom yang bekerja di satu bidang akan menyadari koneksi ke seluruh perekonomian.

Bidang ekonomi , maka , lebih luas dan netral . Mereka termasuk bidang inti metode matematika dan statistik serta banyak arena di mana metode inti yang diterapkan . Kebanyakan Program sarjana meliputi studi di bidang inti dan pilihan bidang terapan . Klasifikasi standar bidang ekonomi diberikan di bawah ini muncul dalam Journal of Economic Literature . Label lapangan ini memberikan penanda abadi di medan pemikiran ekonomi .
Journal of Economic Literature Klasifikasi Bidang

A. General Economics and Teaching — The principles course in the economics curriculum develops core ideas. The course also provides the big picture of how individual economic events fit together to shape aggregate outcomes. Mastering basic ideas and getting a sense of how the parts fit into the whole is an essential entry point to the study of other fields and more advanced ideas in economics. The A category also includes discussion of the teaching of economics.

B. Schools of Economic Thought and Methodology — Economists who study the history of economic thought investigate how the core ideas in economics have developed.

A. Ekonomi Umum dan Pengajaran – Kursus prinsip dalam kurikulum ekonomi mengembangkan ide-ide inti . Kursus ini juga memberikan gambaran besar tentang bagaimana peristiwa ekonomi individu cocok bersama untuk membentuk hasil agregat . Menguasai ide dasar dan mendapatkan rasa bagaimana bagian-bagian masuk ke dalam keseluruhan merupakan entry point penting untuk mempelajari bidang lain dan ide-ide yang lebih maju di bidang ekonomi . Kategori A juga mencakup diskusi tentang ajaran ekonomi .

B. Sekolah Pemikiran Ekonomi dan Metodologi – Para ekonom yang mempelajari sejarah pemikiran ekonomi menyelidiki bagaimana ide-ide inti di bidang ekonomi telah dikembangkan.

C. Mathematical and Quantitative Methods — Econometricians develop methods to measure economic phenomena. They apply the scientific method by formulating hypotheses, gathering evidence, and judging whether the evidence is consistent with the hypotheses. Mathematical economists develop tools for finding optimal solutions to economic problems and advance ideas in game theory. Game theory is the method for analyzing how one player chooses strategies in light of knowledge of the possible strategies a rival might choose. Game theory is used to analyze many economic phenomena including the interaction between firms. In recent decades, experimental economists have tested economic theories in laboratories and in the field.

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D. Microeconomics — Studying how markets function and the role of prices is of central concern in understanding economics. Investigation of the behavior of individual households, firms, and prices and quantities of specific products like automobiles is called microeconomics. Behavioral economists study the cognitive and emotional dimensions of economic decisions.

C. Matematika dan Metode Kuantitatif – ekonometri mengembangkan metode untuk mengukur fenomena ekonomi . Mereka menerapkan metode ilmiah dengan merumuskan hipotesis , mengumpulkan bukti , dan menilai apakah bukti-bukti yang konsisten dengan hipotesis . Ekonom Matematika mengembangkan alat untuk menemukan solusi optimal untuk masalah ekonomi dan ide-ide kemajuan dalam teori permainan . Teori permainan adalah metode untuk menganalisis bagaimana satu pemain memilih strategi dalam terang pengetahuan tentang strategi yang mungkin saingan mungkin memilih . Teori permainan digunakan untuk menganalisis berbagai fenomena ekonomi termasuk interaksi antara perusahaan . Dalam beberapa dekade terakhir , ekonom eksperimental telah diuji teori ekonomi di laboratorium dan di lapangan .

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D. Ekonomi Mikro – Mempelajari bagaimana pasar fungsi dan peran harga menjadi perhatian utama dalam pemahaman ekonomi . Investigasi perilaku rumah tangga individu, perusahaan , dan harga dan jumlah produk tertentu seperti mobil disebut ekonomi mikro . Ekonom perilaku mempelajari dimensi kognitif dan emosional dari keputusan ekonomi .

E. Macroeconomics and Monetary Economics — The actions of individuals sum to the total activity in a whole economy. In the aggregate, the total amount of products consumed by households and firms must equal the total amount produced. The total amount firms pay to workers and investors must equal the amount households receive in income. Study of the aggregate relationships in an economy is called macroeconomics. Economic growth, the role of money and interest rates, and changes in the overall level of prices and the aggregate level of unemployment are central concerns of macroeconomics.

E. Makro dan Ekonomi Moneter – Tindakan individu dijumlahkan ke aktivitas total dalam ekonomi secara keseluruhan . Secara keseluruhan , jumlah total produk yang dikonsumsi oleh rumah tangga dan perusahaan harus sama dengan jumlah yang dihasilkan . Total jumlah perusahaan membayar kepada pekerja dan investor harus sama dengan jumlah rumah tangga menerima pendapatan . Studi hubungan agregat dalam perekonomian disebut makroekonomi . Pertumbuhan ekonomi , peran uang dan suku bunga , dan perubahan dalam keseluruhan tingkat harga dan tingkat pengangguran agregat kekhawatiran utama makroekonomi .

F. International Economics — International economists study trade among nations and the flow of finance across international borders. Globalization and the deficit in the U.S. balance of payments with other countries are current concerns.

G. Financial Economics — Financial economists study the process of saving and investing with a specific concern for how individuals and firms deal with risk.

H. Public Economics — Public finance economists consider the role of government in the economy. Some focus on evaluating government programs and others focus on the design of tax systems. Public finance economists are also interested in how the political process makes decisions. Issues of national security and defense appear here as well the study of state and local governments.

F. Ekonomi Internasional – ekonom Perdagangan internasional studi antar bangsa dan aliran keuangan lintas batas internasional . Globalisasi dan defisit neraca pembayaran AS dengan negara-negara lain adalah keprihatinan saat ini .

G. Ekonomi Keuangan – ekonom Keuangan mempelajari proses menabung dan berinvestasi dengan perhatian khusus untuk bagaimana individu dan perusahaan menghadapi risiko .

H. Ekonomi Publik – ekonom keuangan publik mempertimbangkan peran pemerintah dalam perekonomian . Beberapa fokus pada evaluasi program-program pemerintah dan lain-lain fokus pada desain sistem pajak . Ekonom keuangan publik juga tertarik pada bagaimana proses politik yang membuat keputusan . Isu keamanan nasional dan pertahanan muncul di sini juga studi tentang negara dan pemerintah daerah .

I. Health, Education, and Welfare — Some economists focus on the markets and government policies that directly shape access to health care. Others focus on schools and educational policies. Still others consider the economic circumstances of the poor and evaluate alternative government programs to improve the well-being of the poor.

J. Labor and Demographic Economics — Labor economists study employers’ decisions to hire workers and employees’ decisions to work. They study how wages are set, the nature of incentives workers face, and the role of minimum wage laws, unions, pensions plans, and training programs. They are also interested in the formation of families, determinants of birth rates, migration, population change, and aging.

I. Kesehatan , Pendidikan , dan Kesejahteraan – Beberapa ekonom fokus pada pasar dan kebijakan pemerintah yang secara langsung membentuk akses ke perawatan kesehatan . Lain fokus pada sekolah dan kebijakan pendidikan . Yang lain mempertimbangkan keadaan ekonomi orang miskin dan mengevaluasi program pemerintah alternatif untuk meningkatkan kesejahteraan masyarakat miskin .

J. Tenaga Kerja dan Demografi Ekonomi – ekonom Buruh mempelajari ‘ keputusan untuk mempekerjakan pekerja dan karyawan majikan keputusan untuk bekerja . Mereka mempelajari bagaimana upah diatur , sifat insentif pekerja menghadapi , dan peran hukum upah minimum , serikat , rencana pensiun , dan program pelatihan . Mereka juga tertarik pada pembentukan keluarga , faktor-faktor penentu tingkat kelahiran , migrasi , perubahan populasi , dan penuaan .

K. Law and Economics — Some economists use the tools of economics to study the incentives for human behavior that are defined by the legal system. Property rights, for example, are essential for markets to work well but they can be defined in a variety of ways that have different effects on the well-being of people.

L. Industrial Organization — IO is the study of individual markets, the nature of competition, and the role of prices. Some economists study issues in anti-trust policy. Others study the role of advertising, pricing policies, and how costs vary with the scale of operations. Some IO economists investigate particular industries such as appliances, software, and electricity. In the last decade a number of economists have studied economic issues in sports, recreation, and tourism.

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Hukum K. dan Ekonomi – Beberapa ekonom menggunakan alat-alat ekonomi untuk mempelajari insentif bagi perilaku manusia yang didefinisikan oleh sistem hukum . Hak milik , misalnya , sangat penting untuk pasar untuk bekerja dengan baik , tetapi mereka dapat didefinisikan dalam berbagai cara yang memiliki efek yang berbeda pada kesejahteraan rakyat .

L. Industrial Organization – IO adalah studi tentang pasar individu , sifat persaingan , dan peran harga . Beberapa ekonom mempelajari isu-isu dalam kebijakan anti-trust . Lainnya mempelajari peran kebijakan iklan , harga, dan bagaimana biaya bervariasi dengan skala operasi . Beberapa ekonom IO menyelidiki industri tertentu seperti peralatan , perangkat lunak , dan listrik . Dalam dekade terakhir sejumlah ekonom telah mempelajari isu-isu ekonomi dalam olahraga , rekreasi , dan pariwisata .

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M. Business Administration and Business Economics, Marketing, Accounting — Business economists study decisions made by firms. How do firms maximize profit? What prices should they set and how much should they produce? What is the role of incentives within the firm, of entrepreneurship, and leadership?

N. Economic History — Economic historians explore changes in economic well-being and how economic institutions have developed. The emergence of markets, the forces shaping the industrial revolution, the sources of improvements in agricultural productivity, the influence of railroads and other new technologies provide perspective on current economic issues.

O. Economic Development, Technical Change, and Growth — Economists who are interested in the development of economies often focus on third world countries. Why have some countries developed while others have not? How might the industrialized countries improve the prospects for development around the world? Who gains and who loses with industrialization?

M. Administrasi Bisnis dan Ekonomi Bisnis , Pemasaran , Akuntansi – ekonom Bisnis keputusan yang dibuat oleh perusahaan-perusahaan belajar . Bagaimana perusahaan memaksimalkan keuntungan ? Harga apa yang harus mereka menetapkan dan berapa banyak mereka harus menghasilkan ? Apa peran insentif dalam perusahaan , kewirausahaan , dan kepemimpinan ?

Sejarah Ekonomi N. – sejarawan Ekonomi mengeksplorasi perubahan dalam kesejahteraan ekonomi dan bagaimana lembaga-lembaga ekonomi telah dikembangkan . Munculnya pasar , pasukan membentuk revolusi industri , sumber peningkatan produktivitas pertanian , pengaruh rel kereta api dan teknologi baru lainnya memberikan perspektif tentang isu-isu ekonomi saat ini .

Pembangunan Ekonomi O. , Technical Change, dan Pertumbuhan – Ekonom yang tertarik dalam pengembangan ekonomi sering fokus pada negara-negara dunia ketiga . Mengapa beberapa negara maju sementara yang lain tidak ? Bagaimana mungkin negara-negara industri meningkatkan prospek pembangunan di seluruh dunia ? Siapa keuntungan dan siapa yang dirugikan dengan industrialisasi ?

P. Economic Systems — Analysts compare the capital market system to the various forms of socialism and the transition from centrally planned to more market-based economic systems. Economists sometimes address issues in specific countries like China, Cuba, and Poland.

Q. Agricultural and Natural Resource Economics, Environmental and Ecological Economics — Economists study farming, fishery, and forests with a focus on prices, markets, and changing technologies. Natural resource economists study markets for energy (oil, coal, and electricity) and mineral resources. Economists have played an important role in the evolution of policies to promote clean air, water, and land.

Sistem Ekonomi P. – Analis membandingkan sistem pasar modal ke berbagai bentuk sosialisme dan transisi dari pusat direncanakan untuk sistem ekonomi yang lebih berbasis pasar . Para ekonom kadang-kadang menangani masalah-masalah di negara-negara tertentu seperti China , Kuba , dan Polandia .

Q. Ekonomi Pertanian dan Sumber Daya Alam , Lingkungan dan Ekonomi Ekologis – Ekonom mempelajari pertanian , perikanan , dan hutan dengan fokus pada harga , pasar , dan perubahan teknologi . Ekonom sumber daya alam mempelajari pasar untuk energi ( minyak, batubara , dan listrik ) dan sumber daya mineral . Para ekonom telah memainkan peran penting dalam evolusi kebijakan untuk mempromosikan udara bersih , air , dan tanah

R. Urban, Rural, and Regional Economics — Economists analyze the location decisions of households and firms and the associated issues in housing, transportation, and local government.

Y. Miscellaneous Categories — Data, dissertations, and book reviews are classified here.

Z. Other Special Topics — Other special topics include the economics of the arts, religion, and culture.

Each major field defined in the JEL has several subfields. Search for the field and subfield terms in Wikipedia and Google for more information about each.

Economists add to our collective knowledge by publishing new work in each of the fields above as explained in the finding facts & ideas page. Some of the latest work addresses issues of significant current interest.
What are the fields in economics?

Economists organize their discipline in fields from agricultural economics to urban economics. Many economists specialize in a field by publishing original essays on topics and teaching courses in a specific field.

The fields are in two sets: Those that develop core skills and those that emphasize application of the skills in specific settings. The core itself involves two modes of analysis. The Skills page gives simple examples. First, mathematical description of economic phenomena allows derivation of relationships. This mode of thought is called economic theory. Mathematics allows arguing by deductive reasoning from stated premises to a conclusion. It offers the internal consistency of mathematical proofs but requires no evidence of applicability.

The second core method looks for evidence based on observing economic phenomena. It draws inference from persistent patterns. A consistent pattern that is distinct from the complexity and randomness in nature is likely to have meaning. This mode of thought is called inductive reasoning. It is the mode of analysis of economic historians, statisticians, and experimenters. The study of formal methods for drawing inferences from statistical evidence in economics is called econometrics.

Many advances in economic understanding come from the interaction between deduction and induction. When mathematical analysis yields new insights, the historians, statisticians, and experimenters look for ways to judge whether available evidence is consistent with the theory. When observation shows phenomena that are inconsistent with available theories, economic theorists look for new theories. The core fields are in item C on the list of fields shown below.

Most economists concentrate their work and teaching in an applied field, that is, in the other categories shown below. They study the history of the phenomena and adapt the core theoretical ideas of economics to offer explanations. They develop a variety of methods to observe and measure events and apply econometric methods to test hypotheses. For example, international economists study the history of trade, balance of payments, and exchange rates. They will understand both the economic theories and the econometric findings that explain international economic phenomena.

The fields of economics, however, have fuzzy boundaries because economic events are interconnected. Every transaction has a buyer and a seller; each economic event has extended consequences. A change in a wage rate will affect the cost of the goods the workers produce as well as change the income and consumption patterns of the workers’ households. An economist working in one field will be aware of connections to the rest of the economy.

The fields of economics, then, are more signposts than fences. They include the core areas of mathematical and statistical methods as well as the many arenas in which the core methods are applied. Most undergraduate Programs include study in the core fields and in a selection of applied fields. The standard classification of economic fields given below appears in the Journal of Economic Literature . These field labels provide enduring markers on the terrain of economic thought.
Journal of Economic Literature Classification of Fields

A. General Economics and Teaching — The principles course in the economics curriculum develops core ideas. The course also provides the big picture of how individual economic events fit together to shape aggregate outcomes. Mastering basic ideas and getting a sense of how the parts fit into the whole is an essential entry point to the study of other fields and more advanced ideas in economics. The A category also includes discussion of the teaching of economics.

B. Schools of Economic Thought and Methodology — Economists who study the history of economic thought investigate how the core ideas in economics have developed.

C. Mathematical and Quantitative Methods — Econometricians develop methods to measure economic phenomena. They apply the scientific method by formulating hypotheses, gathering evidence, and judging whether the evidence is consistent with the hypotheses. Mathematical economists develop tools for finding optimal solutions to economic problems and advance ideas in game theory. Game theory is the method for analyzing how one player chooses strategies in light of knowledge of the possible strategies a rival might choose. Game theory is used to analyze many economic phenomena including the interaction between firms. In recent decades, experimental economists have tested economic theories in laboratories and in the field.

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D. Microeconomics — Studying how markets function and the role of prices is of central concern in understanding economics. Investigation of the behavior of individual households, firms, and prices and quantities of specific products like automobiles is called microeconomics. Behavioral economists study the cognitive and emotional dimensions of economic decisions.

E. Macroeconomics and Monetary Economics — The actions of individuals sum to the total activity in a whole economy. In the aggregate, the total amount of products consumed by households and firms must equal the total amount produced. The total amount firms pay to workers and investors must equal the amount households receive in income. Study of the aggregate relationships in an economy is called macroeconomics. Economic growth, the role of money and interest rates, and changes in the overall level of prices and the aggregate level of unemployment are central concerns of macroeconomics.

F. International Economics — International economists study trade among nations and the flow of finance across international borders. Globalization and the deficit in the U.S. balance of payments with other countries are current concerns.

G. Financial Economics — Financial economists study the process of saving and investing with a specific concern for how individuals and firms deal with risk.

H. Public Economics — Public finance economists consider the role of government in the economy. Some focus on evaluating government programs and others focus on the design of tax systems. Public finance economists are also interested in how the political process makes decisions. Issues of national security and defense appear here as well the study of state and local governments.

I. Health, Education, and Welfare — Some economists focus on the markets and government policies that directly shape access to health care. Others focus on schools and educational policies. Still others consider the economic circumstances of the poor and evaluate alternative government programs to improve the well-being of the poor.

J. Labor and Demographic Economics — Labor economists study employers’ decisions to hire workers and employees’ decisions to work. They study how wages are set, the nature of incentives workers face, and the role of minimum wage laws, unions, pensions plans, and training programs. They are also interested in the formation of families, determinants of birth rates, migration, population change, and aging.

K. Law and Economics — Some economists use the tools of economics to study the incentives for human behavior that are defined by the legal system. Property rights, for example, are essential for markets to work well but they can be defined in a variety of ways that have different effects on the well-being of people.

L. Industrial Organization — IO is the study of individual markets, the nature of competition, and the role of prices. Some economists study issues in anti-trust policy. Others study the role of advertising, pricing policies, and how costs vary with the scale of operations. Some IO economists investigate particular industries such as appliances, software, and electricity. In the last decade a number of economists have studied economic issues in sports, recreation, and tourism.

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M. Business Administration and Business Economics, Marketing, Accounting — Business economists study decisions made by firms. How do firms maximize profit? What prices should they set and how much should they produce? What is the role of incentives within the firm, of entrepreneurship, and leadership?

N. Economic History — Economic historians explore changes in economic well-being and how economic institutions have developed. The emergence of markets, the forces shaping the industrial revolution, the sources of improvements in agricultural productivity, the influence of railroads and other new technologies provide perspective on current economic issues.

O. Economic Development, Technical Change, and Growth — Economists who are interested in the development of economies often focus on third world countries. Why have some countries developed while others have not? How might the industrialized countries improve the prospects for development around the world? Who gains and who loses with industrialization?

P. Economic Systems — Analysts compare the capital market system to the various forms of socialism and the transition from centrally planned to more market-based economic systems. Economists sometimes address issues in specific countries like China, Cuba, and Poland.

Q. Agricultural and Natural Resource Economics, Environmental and Ecological Economics — Economists study farming, fishery, and forests with a focus on prices, markets, and changing technologies. Natural resource economists study markets for energy (oil, coal, and electricity) and mineral resources. Economists have played an important role in the evolution of policies to promote clean air, water, and land.

R. Urban, Rural, and Regional Economics — Economists analyze the location decisions of households and firms and the associated issues in housing, transportation, and local government.

Y. Miscellaneous Categories — Data, dissertations, and book reviews are classified here.

Z. Other Special Topics — Other special topics include the economics of the arts, religion, and culture.

Each major field defined in the JEL has several subfields. Search for the field and subfield terms in Wikipedia and Google for more information about each.

Economists add to our collective knowledge by publishing new work in each of the fields above as explained in the finding facts & ideas page. Some of the latest work addresses issues of significant current interest.
Apa saja contoh-contoh bidang ekonomi ?

Para ahli ilmu Ekonomi mengatur kedisiplinan mereka dalam bidang ekonomi pertanian ke ekonomi perkotaan . Banyak ahli ekonomi dalam bidang dengan menerbitkan karangan asli pada beberapa topik dan kursus mengajar di bidang tertentu .

Bidang- bidang tersebut terdiri dari dua bagian : Mereka yang mengembangkan keterampilan inti dan orang-orang yang menekankan penerapan keterampilan dalam pengaturan khusus . Inti itu sendiri melibatkan dua mode analisis . Pada bagian halaman keterampilan tersebut memberikan contoh sederhana . Pertama , deskripsi matematis dari fenomena ekonomi memungkinkan asal mula dari hubungan . Ini yang disebut cara berpikir teori ekonomi . Matematika memungkinkan bertolak belakang dengan penalaran deduktif yang berasal dari dasar fikiran untuk sebuah kesimpulan . Hal ini memberikan konsistensi internal bukti matematika tetapi tidak memerlukan bukti penerapan .

Metode inti kedua mencari bukti berdasarkan pengamatan fenomena ekonomi . Ia menarik kesimpulan dari pola persisten . Sebuah pola yang konsisten yang berbeda dari kompleksitas dan keacakan di alam cenderung memiliki makna . Ini cara berpikir yang disebut penalaran induktif . Ini adalah modus analisis sejarawan ekonomi , statistik , dan peneliti . Studi tentang metode formal untuk menarik kesimpulan dari bukti statistik di bidang ekonomi disebut ekonometrik .

Banyak kemajuan dalam pemahaman ekonomi berasal dari interaksi antara deduksi dan induksi . Ketika analisis matematis menghasilkan wawasan baru, sejarawan , ahli statistik , dan peneliti mencari cara untuk menilai apakah bukti yang ada konsisten dengan teori . Ketika pengamatan menunjukkan fenomena yang tidak sesuai dengan teori yang ada, teori ekonomi mencari teori-teori baru . Bidang inti dalam butir C pada daftar bidang di bawah ini.

Sebagian besar ekonom berkonsentrasi bekerja dan mengajar mereka dalam bidang yang diterapkan , yaitu , dalam kategori lain yang ditunjukkan di bawah ini. Mereka mempelajari sejarah fenomena dan mengadaptasi ide-ide teoritis inti ekonomi untuk memberikan penjelasan . Mereka mengembangkan berbagai metode untuk mengamati dan mengukur peristiwa dan menerapkan metode ekonometrik untuk menguji hipotesis . Sebagai contoh, ekonom internasional mempelajari sejarah perdagangan , neraca pembayaran , dan nilai tukar . Mereka akan memahami baik teori-teori ekonomi dan temuan ekonometrik yang menjelaskan fenomena ekonomi internasional .

Bidang ekonomi , bagaimanapun, memiliki batas-batas yang tidak jelas karena peristiwa-peristiwa ekonomi yang saling berhubungan . Setiap transaksi memiliki pembeli dan penjual ; setiap peristiwa ekonomi telah memperluas konsekuensi . Perubahan tingkat upah akan mempengaruhi biaya barang pekerja memproduksi serta mengubah pola pendapatan dan konsumsi rumah tangga pekerja . Seorang ekonom yang bekerja di satu bidang akan menyadari koneksi ke seluruh perekonomian.

Bidang ekonomi , maka , lebih luas dan netral . Mereka termasuk bidang inti metode matematika dan statistik serta banyak arena di mana metode inti yang diterapkan . Kebanyakan Program sarjana meliputi studi di bidang inti dan pilihan bidang terapan . Klasifikasi standar bidang ekonomi diberikan di bawah ini muncul dalam Journal of Economic Literature . Label lapangan ini memberikan penanda abadi di medan pemikiran ekonomi .
Journal of Economic Literature Klasifikasi Bidang

A. Ekonomi Umum dan Pengajaran – Kursus prinsip dalam kurikulum ekonomi mengembangkan ide-ide inti . Kursus ini juga memberikan gambaran besar tentang bagaimana peristiwa ekonomi individu cocok bersama untuk membentuk hasil agregat . Menguasai ide dasar dan mendapatkan rasa bagaimana bagian-bagian masuk ke dalam keseluruhan merupakan entry point penting untuk mempelajari bidang lain dan ide-ide yang lebih maju di bidang ekonomi . Kategori A juga mencakup diskusi tentang ajaran ekonomi .

B. Sekolah Pemikiran Ekonomi dan Metodologi – Para ekonom yang mempelajari sejarah pemikiran ekonomi menyelidiki bagaimana ide-ide inti di bidang ekonomi telah dikembangkan.

C. Matematika dan Metode Kuantitatif – ekonometri mengembangkan metode untuk mengukur fenomena ekonomi . Mereka menerapkan metode ilmiah dengan merumuskan hipotesis , mengumpulkan bukti , dan menilai apakah bukti-bukti yang konsisten dengan hipotesis . Ekonom Matematika mengembangkan alat untuk menemukan solusi optimal untuk masalah ekonomi dan ide-ide kemajuan dalam teori permainan . Teori permainan adalah metode untuk menganalisis bagaimana satu pemain memilih strategi dalam terang pengetahuan tentang strategi yang mungkin saingan mungkin memilih . Teori permainan digunakan untuk menganalisis berbagai fenomena ekonomi termasuk interaksi antara perusahaan . Dalam beberapa dekade terakhir , ekonom eksperimental telah diuji teori ekonomi di laboratorium dan di lapangan .

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D. Ekonomi Mikro – Mempelajari bagaimana pasar fungsi dan peran harga menjadi perhatian utama dalam pemahaman ekonomi . Investigasi perilaku rumah tangga individu, perusahaan , dan harga dan jumlah produk tertentu seperti mobil disebut ekonomi mikro . Ekonom perilaku mempelajari dimensi kognitif dan emosional dari keputusan ekonomi .

E. Makro dan Ekonomi Moneter – Tindakan individu dijumlahkan ke aktivitas total dalam ekonomi secara keseluruhan . Secara keseluruhan , jumlah total produk yang dikonsumsi oleh rumah tangga dan perusahaan harus sama dengan jumlah yang dihasilkan . Total jumlah perusahaan membayar kepada pekerja dan investor harus sama dengan jumlah rumah tangga menerima pendapatan . Studi hubungan agregat dalam perekonomian disebut makroekonomi . Pertumbuhan ekonomi , peran uang dan suku bunga , dan perubahan dalam keseluruhan tingkat harga dan tingkat pengangguran agregat kekhawatiran utama makroekonomi .

F. Ekonomi Internasional – ekonom Perdagangan internasional studi antar bangsa dan aliran keuangan lintas batas internasional . Globalisasi dan defisit neraca pembayaran AS dengan negara-negara lain adalah keprihatinan saat ini .

G. Ekonomi Keuangan – ekonom Keuangan mempelajari proses menabung dan berinvestasi dengan perhatian khusus untuk bagaimana individu dan perusahaan menghadapi risiko .

H. Ekonomi Publik – ekonom keuangan publik mempertimbangkan peran pemerintah dalam perekonomian . Beberapa fokus pada evaluasi program-program pemerintah dan lain-lain fokus pada desain sistem pajak . Ekonom keuangan publik juga tertarik pada bagaimana proses politik yang membuat keputusan . Isu keamanan nasional dan pertahanan muncul di sini juga studi tentang negara dan pemerintah daerah .

I. Kesehatan , Pendidikan , dan Kesejahteraan – Beberapa ekonom fokus pada pasar dan kebijakan pemerintah yang secara langsung membentuk akses ke perawatan kesehatan . Lain fokus pada sekolah dan kebijakan pendidikan . Yang lain mempertimbangkan keadaan ekonomi orang miskin dan mengevaluasi program pemerintah alternatif untuk meningkatkan kesejahteraan masyarakat miskin .

J. Tenaga Kerja dan Demografi Ekonomi – ekonom Buruh mempelajari ‘ keputusan untuk mempekerjakan pekerja dan karyawan majikan keputusan untuk bekerja . Mereka mempelajari bagaimana upah diatur , sifat insentif pekerja menghadapi , dan peran hukum upah minimum , serikat , rencana pensiun , dan program pelatihan . Mereka juga tertarik pada pembentukan keluarga , faktor-faktor penentu tingkat kelahiran , migrasi , perubahan populasi , dan penuaan .

Hukum K. dan Ekonomi – Beberapa ekonom menggunakan alat-alat ekonomi untuk mempelajari insentif bagi perilaku manusia yang didefinisikan oleh sistem hukum . Hak milik , misalnya , sangat penting untuk pasar untuk bekerja dengan baik , tetapi mereka dapat didefinisikan dalam berbagai cara yang memiliki efek yang berbeda pada kesejahteraan rakyat .

L. Industrial Organization – IO adalah studi tentang pasar individu , sifat persaingan , dan peran harga . Beberapa ekonom mempelajari isu-isu dalam kebijakan anti-trust . Lainnya mempelajari peran kebijakan iklan , harga, dan bagaimana biaya bervariasi dengan skala operasi . Beberapa ekonom IO menyelidiki industri tertentu seperti peralatan , perangkat lunak , dan listrik . Dalam dekade terakhir sejumlah ekonom telah mempelajari isu-isu ekonomi dalam olahraga , rekreasi , dan pariwisata .

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M. Administrasi Bisnis dan Ekonomi Bisnis , Pemasaran , Akuntansi – ekonom Bisnis keputusan yang dibuat oleh perusahaan-perusahaan belajar . Bagaimana perusahaan memaksimalkan keuntungan ? Harga apa yang harus mereka menetapkan dan berapa banyak mereka harus menghasilkan ? Apa peran insentif dalam perusahaan , kewirausahaan , dan kepemimpinan ?

Sejarah Ekonomi N. – sejarawan Ekonomi mengeksplorasi perubahan dalam kesejahteraan ekonomi dan bagaimana lembaga-lembaga ekonomi telah dikembangkan . Munculnya pasar , pasukan membentuk revolusi industri , sumber peningkatan produktivitas pertanian , pengaruh rel kereta api dan teknologi baru lainnya memberikan perspektif tentang isu-isu ekonomi saat ini .

Pembangunan Ekonomi O. , Technical Change, dan Pertumbuhan – Ekonom yang tertarik dalam pengembangan ekonomi sering fokus pada negara-negara dunia ketiga . Mengapa beberapa negara maju sementara yang lain tidak ? Bagaimana mungkin negara-negara industri meningkatkan prospek pembangunan di seluruh dunia ? Siapa keuntungan dan siapa yang dirugikan dengan industrialisasi ?

Sistem Ekonomi P. – Analis membandingkan sistem pasar modal ke berbagai bentuk sosialisme dan transisi dari pusat direncanakan untuk sistem ekonomi yang lebih berbasis pasar . Para ekonom kadang-kadang menangani masalah-masalah di negara-negara tertentu seperti China , Kuba , dan Polandia .

Q. Ekonomi Pertanian dan Sumber Daya Alam , Lingkungan dan Ekonomi Ekologis – Ekonom mempelajari pertanian , perikanan , dan hutan dengan fokus pada harga , pasar , dan perubahan teknologi . Ekonom sumber daya alam mempelajari pasar untuk energi ( minyak, batubara , dan listrik ) dan sumber daya mineral . Para ekonom telah memainkan peran penting dalam evolusi kebijakan untuk mempromosikan udara bersih , air , dan tanah .

R. Urban, Desa , dan Ekonomi Regional – Ekonom menganalisis keputusan lokasi rumah tangga dan perusahaan dan isu-isu terkait di perumahan , transportasi , dan pemerintah daerah .

Y. Miscellaneous Kategori – Data, disertasi , dan resensi buku diklasifikasikan di sini.

Khusus Topik Z. Lain – topik khusus lainnya termasuk ekonomi seni , agama , dan budaya .

Setiap bidang utama didefinisikan dalam JEL memiliki beberapa subbidang . Mencari lapangan dan subfield istilah di Wikipedia dan Google Untuk informasi lebih lanjut tentang masing-masing .

Ekonom menambah pengetahuan kita bersama dengan menerbitkan karya baru di masing-masing bidang di atas seperti yang dijelaskan dalam temuan fakta & ide-ide halaman . Beberapa karya terbaru membahas masalah-masalah yang menarik saat ini signifikan .



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