economic science


Also found in: Thesaurus, Medical, Legal, Financial, Encyclopedia, Wikipedia.
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.economic science - the branch of social science that deals with the production and distribution and consumption of goods and services and their managementeconomic science - the branch of social science that deals with the production and distribution and consumption of goods and services and their management
production - (economics) manufacturing or mining or growing something (usually in large quantities) for sale; "he introduced more efficient methods of production"
Gresham's Law - (economics) the principle that when two kinds of money having the same denominational value are in circulation the intrinsically more valuable money will be hoarded and the money of lower intrinsic value will circulate more freely until the intrinsically more valuable money is driven out of circulation; bad money drives out good; credited to Sir Thomas Gresham
economic theory - (economics) a theory of commercial activities (such as the production and consumption of goods)
social science - the branch of science that studies society and the relationships of individual within a society
game theory, theory of games - (economics) a theory of competition stated in terms of gains and losses among opposing players
econometrics - the application of mathematics and statistics to the study of economic and financial data
finance - the branch of economics that studies the management of money and other assets
macroeconomics - the branch of economics that studies the overall working of a national economy
microeconomics - the branch of economics that studies the economy of consumers or households or individual firms
supply-side economics - the school of economic theory that stresses the costs of production as a means of stimulating the economy; advocates policies that raise capital and labor output by increasing the incentive to produce
spillover - (economics) any indirect effect of public expenditure
capital account - (economics) that part of the balance of payments recording a nation's outflow and inflow of financial securities
economic consumption, use of goods and services, usance, consumption, use - (economics) the utilization of economic goods to satisfy needs or in manufacturing; "the consumption of energy has increased steadily"
utility - (economics) a measure that is to be maximized in any situation involving choice
marginal utility - (economics) the amount that utility increases with an increase of one unit of an economic good or service
productivity - (economics) the ratio of the quantity and quality of units produced to the labor per unit of time
monopoly - (economics) a market in which there are many buyers but only one seller; "a monopoly on silver"; "when you have a monopoly you can ask any price you like"
monopsony - (economics) a market in which goods or services are offered by several sellers but there is only one buyer
oligopoly - (economics) a market in which control over the supply of a commodity is in the hands of a small number of producers and each one can influence prices and affect competitors
moral hazard - (economics) the lack of any incentive to guard against a risk when you are protected against it (as by insurance); "insurance companies are exposed to a moral hazard if the insured party is not honest"
real - of, relating to, or representing an amount that is corrected for inflation; "real prices"; "real income"; "real wages"
nominal - of, relating to, or characteristic of an amount that is not adjusted for inflation; "the nominal GDP"; "nominal interest rates"
inflationary - associated with or tending to cause increases in inflation; "inflationary prices"
deflationary - associated with or tending to cause decreases in consumer prices or increases in the purchasing power of money; "deflationary measures"
References in periodicals archive ?
Friday brings word of the prize for peace, and next Monday news of the prize in economic science.
Economic science centers on the activities of the economic agents that comprise society.
The Making of the Economy: A Phenomenology of Economic Science.
2 million for jointly winning the 2012 Nobel Memorial Prize in Economic Science.
In the last six years of his life, he turned his attention also to a more fundamental overview of economic science as it then stood, offering an analysis of the failures of "naturalistic" economics and indicating the work needing to be done to craft a Catholic alternative.
submits that Lonergan's searching for answers led to the discovery of an economic science composed of fundamental and explanatory terms and relations.
Fiscal decisions about budgets, taxes, and spending should be based on economic science, in much the same way that monetary policy has come to be science-based in recent decades, proposes former Federal Reserve System economist Eric Leeper, a professor in the Department of Economics at Indiana University, Bloomington.
The 13th volume in the Nova Science series on game theory and applications concentrates on papers that were presented at the Third Pan-Pacific Game Theory Conference in Beijing, and emphasizes the overlap of this research with other areas of economic science, mathematics, sociology and philosophy.
Manna from Heaven: From Divine Speech to Economic Science
Nobel Prizes are awarded for physics, chemistry, physiology or medicine, literature, peace, and economic science.
Graduating from the University of Aberdeen last summer with a degree in economic science and management studies, she decided to continue her education at the University of Salford.
About 40 years ago Gary Becker, who won the Nobel Prize in Economic Science in 1992, popularized the idea of human capital.