Main article: International economicsHome bias in trade puzzle: The home bias in trade puzzle is an empirical observation that even when factors such as economic size of trading partners and the dista ...
Main article: Financial economicsEquity premium puzzle: The Equity premium puzzle is thought to be one of the most important outstanding questions in neoclassical economics. It is founded on the basis ...
Main article: Behavioral economicsRevealed preference: Does Revealed Preference theory truly reveal consumer preference when the consumer is able to afford all of the available options? For example, i ...
This is a list of some of the major unsolved problems, puzzles, or questions in neoclassical economics. Some of these are theoretical in origin and some of them concern the inability of orthodox econo ...
General criticisms"The dismal science" is a derogatory alternative name for economics devised by the Victorian historian Thomas Carlyle in the 19th century. It is often stated that Carlyle gave econom ...
Main article: Classical economicsThe 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 Wealt ...
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 Aristo ...
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 econo ...
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 wi ...
Main articles: International economics and Economic systemA world map showing GDP (PPP) per capita, 2011.International trade studies determinants of goods-and-services flows across international bound ...
Main article: MacroeconomicsMacroeconomics 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 ...
Main article: MarketsEconomists study trade, production and consumption decisions, such as those that occur in a traditional marketplace. In Virtual Markets, buyer and seller are not present and trade ...
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) de ...
Economics is the social science that studies the behavior of individuals, groups, and organizations (called economic actors, players, or agents), when they manage or use scarce resources, which have a ...
