Содержание
- 2. Topics: 1. Nature and scope of economics. Definition of economics: 2. Subject matter of economics 3.
- 3. References: Primarily Alberto Bisin (2011) Introduction to economic analysis, Dept. of Economics NYU William A. McEachern
- 4. 1. Nature and scope of economics. Definition of economics: With this sentence many of you begin
- 5. WHAT IS ECONOMICS? A preliminary definition. Economics is a study of the ways in which people
- 6. Narrowing the gap. There are two ways to narrow the gap. One is to want less;
- 7. Getting more of what? The economist limits his studies to the attempts of people to get
- 8. Definition of economics: – Wealth definition (1776) of economics (Adam Smith). According to him, According to
- 9. – Welfare definition of economics (1890) (Alfred Marshall). This definition was given by Alfred Marshall. According
- 10. Then, one more definition of economics was given by Lionel Robbins. – The definition given by
- 11. Another economist who proposed another definition is Paul Anthony Samuelson. –he definition of Samuelson is known
- 12. 2. Subjects and methods of economics
- 14. What’s the difference between Microeconomics and macroeconomics
- 15. 3. Economy and its systems Economy is a system which provides working and living to people
- 16. Nearly every economist has at some point in the standard coursework been exposed to a brief
- 18. Скачать презентацию
Topics:
1. Nature and scope of economics. Definition of economics:
2. Subject
Topics:
1. Nature and scope of economics. Definition of economics:
2. Subject
3. Economy and its systems
Additional material to Lecture 1 (Unit 1)
References:
Primarily
Alberto Bisin (2011) Introduction to economic analysis, Dept. of Economics
References:
Primarily
Alberto Bisin (2011) Introduction to economic analysis, Dept. of Economics
William A. McEachern (2006) Economics: A Contemporary Introduction, University of Connecticut
Carl Menger (2007) Principles of economics, Ludwig von Mises Institute
Additional
(These publications are referred to in the chart by the brief titles shown in bold face)
Arthur D. Gayer, C. Lowell Harriss, Milton H. Spencer, Basic Economics: A Book of Readings (New York: Prentice-Hall, Inc., 1951) [Gayer and Others]
Arleigh P. Hess, Jr., Robert E. Gallmann, John P. Rice, Carl Stern, Outside Readings in Economics (New York: Thomas Y. Crowell Company, 1951) [Hess and Others]
Walter Adams and Leland E. Traywick, Readings in Economics: Principles and Problems (New York: The Macmillan Company, 1950) [Adams and Traywick]
Paul A. Samuelson, Robert L. Bishop, John R. Coleman, Readings in Economics (New York: McGraw-Hill Book Co., Inc., 1952) [Samuelson and Others]
1. Nature and scope of economics.
Definition of economics:
With this sentence
1. Nature and scope of economics.
Definition of economics:
With this sentence
WHAT IS ECONOMICS?
A preliminary definition.
Economics is a study of the ways
WHAT IS ECONOMICS?
A preliminary definition.
Economics is a study of the ways
Narrowing the gap.
There are two ways to narrow the gap. One
Narrowing the gap.
There are two ways to narrow the gap. One
Getting more of what?
The economist limits his studies to the attempts
Getting more of what?
The economist limits his studies to the attempts
Many of the things which satisfy human wants cannot be exchanged – the physical potential to play football, the liking of one’s friends, the love of family members, etc. It may well be that these sources of satisfaction are more important than the ones which can be exchanged, the ones which the economist studies. However, most people seem to prefer some combination of economic and noneconomic goods.
We now have limited the economist to a study of how people go about getting more economic goods – more food, clothing, and shelter, new cars, television sets, etc. Does goods this mean that each of you can learn how to get more of these things by studying economics? Unfortunately, the answer to this question is, “no.”
People who do not understand this often ask us, “You’re economists; why aren’t you rich?” We regret even more than you do that we cannot tell you how to get rich. What do we mean, then, when we say that economics is a study of the method of getting more? We mean that economics is a study of how groups of people organize the use of resources to accomplish this goal. Let us take a closer look at what this means.
Definition of economics:
– Wealth definition (1776) of economics (Adam Smith). According
Definition of economics:
– Wealth definition (1776) of economics (Adam Smith). According
During the long period of time, this definition was considered to be a good definition of economics.
But after classic period (A. Smith and Davis Ricardo), the neoclassic school was to say that A. Smith was give no efficient definition, considering only one category (Wealth). It means that this definition has been criticized and rejected was not accepted by neoclassic (Léon Walras, Carl Menger, William Stanley Jevons, etc.,
One more definition which we call welfare definition
– Welfare definition of economics (1890) (Alfred Marshall). This definition was
– Welfare definition of economics (1890) (Alfred Marshall). This definition was
Welfare definition (1890) – “Economics is a study of mankind in the ordinary business of life; it examines that part of individual and social action which is most closely connected with the attainment and with the use of material requisites of wellbeing”.
It is one side a study of wealth; and on the other side, a study of human welfare based on wealth.
And this is second definition was given by A. Marshall, But during the long period of time this definition was also criticized by economists on the basis of Material. Because according to them A. Marshal consider only the material thing as the origin of welfare of economics and ignored another part that we called services. And they really noted that in another countries services is more important that material; production (e.g. the service of doctor, the services of engineers, in a service of the teacher, etc).
Then, one more definition of economics was given by Lionel Robbins.
Then, one more definition of economics was given by Lionel Robbins.
– The definition given by Robbins (1932) (The Scarcity definition) was considered as very important, and we can say more scientific definition of economics. According to professor Robbins “Economics is that science which studies the relationship between ENDS, LIMITED RESOURCES which ALTERNATIVE USES.
For his definition, Robbins took three categories – Ends, Limited resources, and alternative uses).
Robbins emphasized on “choice under scarcity”. In his own words, “Economics is concerned with that aspect of behavior which arises from the scarcity of means to achieve given ends”.
Another economist who proposed another definition is Paul Anthony Samuelson.
–he definition
Another economist who proposed another definition is Paul Anthony Samuelson.
–he definition
The definition given by Samuelson introduced the dimension of growth under scare situation.
So, let’s go to do the main conclusion of the concepts of economics.
The economics means – MAKING OF CHOICE IN PRESENCE OF SCARCITY – This the main conclusion of all definitions.
2. Subjects and methods of economics
2. Subjects and methods of economics
What’s the difference between Microeconomics
and macroeconomics
What’s the difference between Microeconomics
and macroeconomics
3. Economy and its systems
Economy is a system which provides working
3. Economy and its systems
Economy is a system which provides working
The word Economy (from Greek. Οἶκος “house, economy; housekeeping” + νόμος “nom, territory of economic management; rule, law”; literally “housekeeping rules”) - the economic activity of the company, as well as the totality of relations emerging in the system of production, distribution, exchange and consumption.
For the first time in scientific work, the word "economy" appears in the IV century. BC e. at Xenophon, who calls it "natural science." Aristotle contrasted the economy with chrematistics - a branch of human activity related to profit-making. In modern philosophy, economics is considered as a system of social relations, considered from the perspective of the concept of value. The main function of the economy is to constantly create such benefits that are necessary for the livelihoods of people and without which society cannot develop. The economy helps meet human needs in a world of limited resources.
The economy of society is a complex and all-encompassing organism that provides the vital functions of every person and society.
Nearly every economist has at some point in the standard coursework
Nearly every economist has at some point in the standard coursework