looks at the actual act of making a decision— looking at why agents do things. focuses on markets analogy: environment but focusing on individual trees
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Macroeconomics
looks at the larger effect of the millions of individual decisions that are made ex: inflation
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3
industrial organization
looks at the structure and performance of industries and firms within an economy
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4
labor economics
deals with the factors that determine wage rates
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public economics
examines the role of government in the economy. What are the economic functions of government
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6
international economics two parts:
international trade and international fincance
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7
international trade
studies the trade flows among countries and international financial institutions. what are the implications of tariffs and quotas?
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8
international finance
looks at the flow of assets and money between nations as well as what determines the exchange rate between nations
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9
urban and regional economics
studies the spatial arrangement of economic activity. Why do we have cities? why do poor people live in cities? why do certain neighborhoods decline while others prosper?
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10
comparative economic systerms
examines the different ways that alternative economic systems function. what are the advantages and disadvantages of different systems? how do capitalist economies differ from socialist economies?
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economic development
focuses on the problems of poor or developing countries. what can be done to promote development in these countries? how do countries grow?
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12
Econometrics
uses statistics to test hypotheses and theories. Very important in economics. Almost all fields use econometrics to some extent.
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13
Economic History
traces the development of the modern economy. what caused the industrial revolution
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14
Law and Economics
analyzes the economic function of legal rules and institutions. how does the law change the behavior of businesses and individuals? what are the economic costs of crime?
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15
the history of economic thought
studies the development of economic ideas over time
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behavioral economics
looks at why people do stuff from a more physiological angle and often focuses on mistakes in logic or decision-making
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neuroeconomics
looks at what the brain does as we make economic decisions
Studied by 4 people
