ECONOMICS
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Discussion on Economics
Broad economic distinctions include those between positive economics (describing "what is") and normative economics (advocating "what ought to be"); between economic theory and applied economics; between rational and behavioral economics; and between mainstream economics (more "orthodox" and dealing with the "rationality-individualism-equilibrium nexus") and heterodox economics (more "radical" and dealing with the "institutions-history-social structure nexus"). Furthermore, economic analysis may be applied throughout society, as in business, finance, health care and government but also to such diverse subjects as crime, education, the family, law, politics, religion, social institutions, war and science. At the turn of the 21st century, the expanding domain of economics in the social sciences has been described as economic imperialism.
Economics in Pictures
Broad Categories in Economics
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