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Welfare economics |
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Welfare economicsThe branch of economic thought that deals with economic welfare, including especially various propositions relating competitive general equilibrium to the efficiency and desirability of an allocation. See the first and second theorems of welfare economics.Similar MatchesMacroeconomicsMacroeconomicsThe study of a country's economy using such elements as unemployment, price levels, government spending, interest rates, national productivity etc and the influence of government policy on them. MicroeconomicsMicroeconomicsAnalysis of the behavior of individual economic units such as companies, industries, or households. International macroeconomicsInternational macroeconomicsSame as international finance, but with more emphasis on the international determination of macroeconomic variables such as national income and the price level. EconomicsEconomicsThe study of manufacturing, distribution and consumption of products and services in an economy.This is broadly divided into macroeconomics and microeconomicsMacroeconomics: The study of a country's economy using such elements as unemployment, price levels, government spending, interest rates, national productivity etc and the influence of government policy on them.Microeconomics: The study of economic elements at the level of the household or the company. People within a household are primarily concerned with employment prospects and how taxation affects their income. Companies are mainly concerned with product costs and operating expenses etc. First theorem of welfare economicsFirst theorem of welfare economicsThe proposition of welfare economics that a competitive general equilibrium is Pareto optimal. A corollary is that free trade is Pareto optimal among countries. Further SuggestionsEconomicsSupply side economics Second theorem of welfare economics Keynesian economics microeconomics Neoclassical economics International monetary economics |
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