Portal:Economics
Introduction
Economics (/ˌɛkəˈnɒmɪks, ˌiːkə-/) is a social science that studies the production, distribution, and consumption of goods and services.
Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyses what is viewed as basic elements within economies, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyses economies as systems where production, distribution, consumption, savings, and investment expenditure interact, and factors affecting it: factors of production, such as labour, capital, land, and enterprise, inflation, economic growth, and public policies that have impact on these elements. It also seeks to analyse and describe the global economy. (Full article...)
Selected general articles
Did you know...
- ... that in the 1916 Declaration of Sainte-Adresse Britain, France and Russia committed to securing the political and economic independence of Belgium after the First World War?
- ... that Elizabeth Wilkins chose to work at the Federal Trade Commission on the hope that the agency is now positioned to address economic injustice?
- ... that environmental economist V. Kerry Smith has been described as a "Renaissance Man of Economics"?
- ... that Ruth Huenemann was one of the first researchers to make a connection between socioeconomic status and childhood obesity?
- ... that in a study for UNICEF, Reginald Green found that more than two million children under the age of five had died in Angola and Mozambique due to the South African apartheid regime's economic policies?
- ... that Michael Kremer's O-ring theory of economic development was inspired by his forgetting to purchase toilet paper for a training session?
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In the news
- 25 September 2024 – Pakistani economic crisis
- The International Monetary Fund approves a $7 billion loan for Pakistan to help its economy, with $1 billion being disbursed immediately and the rest in instalments over 37 months. (AP)
- 24 September 2024 –
- Argentine President Javier Milei proposes an "agenda of freedom" with economic, social, and foreign policies that directly contradict the United Nations' "Pact for the Future", which he calls a model to "repress, restrict and curtail" humanity's freedom and ineffective at preventing conflicts. (Reuters)
- 12 September 2024 – Russian invasion of Ukraine
- Ukraine accuses Russia of conducting missile strikes on a Saint Kitts and Nevis-flagged bulk carrier carrying grain to Egypt in the exclusive economic zone of Romania in the Black Sea. No casualties are reported. (Reuters)
- 2 September 2024 – Israel–Hamas war protests
- Histadrut, Israel's national trade union center, begins a one-day general strike to protest against the Netanyahu government's failure to negotiate a ceasefire and hostage deal. The strike is later ordered to end prematurely by a Tel Aviv labor court, claiming the strike was illegally political in nature rather than economic. (BBC) (The Guardian)
- 23 August 2024 – Unemployment in the United States
- United States Chair of the Federal Reserve Jerome Powell states that increased unemployment rates and labor market cooling has made it necessary for the Federal Reserve to markedly reduce interest rates in the near future. (Reuters)
- 20 August 2024 – Azerbaijan–Russia relations
- Azerbaijan formally applies to join the BRICS economic bloc following a meeting between President Ilham Aliyev and Russian President Vladimir Putin in Baku, Azerbaijan. Aliyev also approves US$120 million to expand Russian–Azerbaijani cargo trade. (AP)
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