The earlier term for the discipline was "political economy", but since the late 19th century, it has commonly been called "economics". The term is … 展开

Theoretical research
Mainstream economic theory relies upon analytical economic models. When creating theories, the objective is to find assumptions which are at least as simple in information requirements, more precise in predictions, and more … 展开

Macroeconomics, another branch of economics, 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. Such aggregates include national income and output 展开

From antiquity through the physiocrats
Questions regarding distribution of resources are found throughout the writings of the 展开

Microeconomics examines how entities, forming a market structure, interact within a market to create a market system. These entities include private and public players with various classifications, typically operating under scarcity of tradable units and 展开

Public economics
Public economics is the field of economics that deals with economic activities of a public sector, … 展开

Economics is one social science among several and has fields bordering on other areas, including economic geography, economic history, public choice, energy economics, 展开