Branches of Mathematics

Pure mathematics

• Algebra
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Applied mathematics

• Dynamical systems and differential equations
• Mathematical physics
• Computing
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• Probability and statistics
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Related Topics

• Electromagnetic Spectrum
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• Adam Smith
• Aggregate demand
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• Aggregation problem
• Alfred Marshall
• Alpha consumer
• Artificial demand
• Barriers to entry
• Behavioral economics
• Budget set
• Business economics
• Carl Menger
• Cato Institute
• Central bank
• Classical economics
• Comparative statics
• Complement good
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• Consumer
• Consumer choice
• Consumer theory
• Data
• David Ricardo
• Deadweight loss
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• Demand forecasting
• Demand shortfall
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• Dirk Riehle
• Duopoly
• Econometrics
• Economic equilibrium
• Economic model
• Economic profit
• Economic rent
• Economic shortage
• Economic surplus
• Economies of scale
• Economies of scope
• Exogenous
• Externality
• Family economics
• Fleeming Jenkin
• Game theory
• General equilibrium
• George Stigler
• Giffen goods
• Good (economics)
• Gregory F. Udell
• Ibn Taymiyyah
• Income
• Indifference curve
• Induced demand
• Interest
• Interest rates
• Intertemporal choice
• Invisible hand
• James Denham-Steuart
• John Locke
• Karl Marx
• Keynesian economics
• Labor shortage
• Labour (economics)
• Law of demand
• Lawrence S. Ritter
• Léon Walras
• Macroeconomic
• Mamluk
• Managerial economics
• Marginal cost
• Marginal utility
• Market
• Market economy
• Market failure
• Market structure
• Microeconomic
• Microeconomics
• Microfoundations
• Monetary policy
• Money market
• Money supply
• Monopoly
• Monopsony
• Oligopoly
• Operations research
• Opportunity cost
• Pareto Efficiency
• Partial equilibrium
• Paul A. Samuelson
• Perfect competition
• Physical capital
• Piero Sraffa
• Price determination
• Price level
• Price theory
• Producer's surplus
• Production set
• Profit (economics)
• Protectionism
• Public goods
• Purchasing power
• Rationing
• Real GDP
• Reduced form
• Returns to scale
• Risk aversion
• Say's Law
• Scarcity
• Social choice
• Staple food
• Substitute good
• Sunk costs
• Supply (economics)
• Supply and demand
• Supply shock
• Theory of the firm
• Thomas Humphrey
• Trade
• Uncertainty
• Unit price
• Utility
• Veblen goods
• Wage
• Welfare economics
• Wheat
• William L. Silber
• 
  

• 
  Adam Smith
  Adam Smith (baptised 16 June 1723 – 17 July 1790 [OS: 5 June 1723 – 17 July 1790]) was a Scottish social philosopher and a pioneer of political economy. One of the key figures of the Scottish Enlightenment, Smith is the author of The Principles Which Lead and Direct Philosophical Enquiries, Illustrated by the History of Astronomy, prior to 1758, The Theory of Moral Sentiments, 1759, and An Inquiry into the Nature and Causes of the Wealth of Nations, 1776. The latter, usually abbreviated as The Wealth of Nations, is considered his magnum opus and the first modern work of economics. It earned him an enormous reputation and would become one of the most influential works ever published. Smith is widely cited as the father of modern economics and capitalism and is still among the most influential thinkers in the field of economics today. In 2009, Smith was named among the 'Greatest Scots' of all time, in a vote run by Scottish television channel STV.
  Smith studied social philosophy at the University of Glasgow and at Balliol College in the University of Oxford, where he was one of the first students to benefit from scholarships set up by his fellow Glaswegian John Snell. After graduating, he delivered a successful series of public lectures at Edinburgh, leading him to collaborate with David Hume during the Scottish Enlightenment. Smith obtained a professorship at Glasgow teaching moral philosophy, and during this time he wrote and published The Theory of Moral Sentiments. In his later life, he took a tutoring position that allowed him to travel throughout Europe, where he met other intellectual leaders of his day. Smith then returned home and spent the next ten years writing The Wealth of Nations, publishing it in 1776. He died in 1790 at the age of 67.
  
  wn.com/Adam_Smith
• 
  Alfred Marshall
  Alfred Marshall (born 26 July 1842 in Bermondsey, London, England, died 13 July 1924 in Cambridge, England) was one of the most influential economists of his time. His book, Principles of Economics (1890), was the dominant economic textbook in England for many years. It brings the ideas of supply and demand, marginal utility, and costs of production into a coherent whole. He is known as one of the founders of economics.
  Marshall was born in Clapham, England, July 26, 1842. His father was a bank cashier and a devout Evangelical. Marshall grew up in the London suburb of Clapham and was educated at the Merchant Taylors' School and St John's College, Cambridge, where he demonstrated an aptitude in mathematics, achieving the rank of Second Wrangler in the 1865 Cambridge Mathematical Tripos. Marshall experienced a mental crisis that led him to abandon physics and switch to philosophy. He began with metaphysics, specifically "the philosophical foundation of knowledge, especially in relation to theology.". Metaphysics led Marshall to ethics, specifically a Sidgwickian version of utilitarianism; ethics, in turn, led him to economics, because economics played an essential role in providing the preconditions for the improvement of the working class. Even as he turned to economics, his ethical views continued to be a dominant force in his thinking.
  
  wn.com/Alfred_Marshall
• 
  Carl Menger
  Carl Menger (February 28, 1840 – February 26, 1921) was the founder of the Austrian School of economics, famous for contributing to the development of the theory of marginal utility, which contested the cost-of-production theories of value, developed by the classical economists such as Adam Smith and David Ricardo.
  Menger was born in Nowy Sącz in Austrian Galicia, now in Poland. He was the son of a wealthy family of minor nobility; his father, Anton, was a lawyer. His mother, Caroline, was the daughter of a wealthy Bohemian merchant. He had two brothers, Anton and Max, both prominent as lawyers. After attending Gymnasium he studied law at the Universities of Prague and Vienna and later received a doctorate in jurisprudence from the Jagiellonian University in Kraków. In the 1860s Menger left school and enjoyed a stint as a journalist reporting and analyzing market news, first at the Lemberger Zeitung in Lwów, Ukraine and later at the Wiener Zeitung in Vienna.
  During the course of his newspaper work he noticed a discrepancy between what the classical economics he was taught in school said about price determination and what real world market participants believed. In 1867 Menger began a study of political economy which culminated in 1871 with the publication of his Principles of Economics (Grundsätze der Volkswirtschaftslehre), thus becoming the father of the Austrian School of economic thought. It was in this work that he challenged classical cost-based theories of value with his theory of marginality - that price is determined at the margin.
  
  wn.com/Carl_Menger
• 
  David Ricardo
  David Ricardo (18 April 1772 – 11 September 1823) was an English political economist, often credited with systematising economics, and was one of the most influential of the classical economists, along with Thomas Malthus, Adam Smith, and John Stuart Mill. He was also a member of Parliament, businessman, financier and speculator, who amassed a considerable personal fortune. Perhaps his most important contribution was the law of comparative advantage, a fundamental argument in favour of free trade among countries and of specialisation among individuals. Ricardo argued that there is mutual benefit from trade (or exchange) even if one party (e.g. resource-rich country, highly skilled artisan) is more productive in every possible area than its trading counterpart (e.g. resource-poor country, unskilled labourer), as long as each concentrates on the activities where it has a relative productivity advantage.
  Born in London, England, Ricardo was the third of 17 children of a Sephardic Jewish family of Portuguese origin who had recently relocated from the Dutch Republic. His father was a successful stockbroker.
  
  wn.com/David_Ricardo
• 
  Fleeming Jenkin
  Henry Charles Fleeming Jenkin (/ˈflɛmɪŋ/; 1833–1885) was Professor of Engineering at the University of Edinburgh, remarkable for his versatility. Known to the world as the inventor of the cable car or telpherage, he was an electrician and cable engineer, economist, lecturer, linguist, critic, actor, dramatist and artist. His descendants include the Tory MPs Patrick, Lord Jenkin of Roding and Bernard Jenkin.
  Generally called Fleeming Jenkin, after Admiral Fleeming, one of his father's patrons, he was born to an old and eccentric family, in a government building near Dungeness, Kent, England, his father, Captain Charles Jenkin, at that time being in the coast-guard service. His versatility was derived from his mother, Henrietta Camilla Jackson, a strong and energetic character who sang and sketched. Owing to her husband's frequent absence, she became responsible for Fleeming's education. She took him to the south of Scotland, where, chiefly at Barjarg, she taught him drawing and allowed him to ride his pony on the moors. He went to school at Jedburgh, Borders, and afterwards to the Edinburgh Academy, where he won many prizes. Among his school fellows were James Clerk Maxwell and Peter Guthrie Tait.
  
  wn.com/Fleeming_Jenkin
• George Stigler
  George Joseph Stigler (January 17, 1911 – December 1, 1991) was a U.S. economist. He won the Nobel Memorial Prize in Economic Sciences in 1982, and was a key leader of the Chicago School of Economics, along with his close friend Milton Friedman.
  While at Chicago, he was greatly influenced by Frank Knight, his dissertation supervisor. Friedman, a friend for over sixty years, comments upon it as remarkable since only three or four students ever managed to complete their PhD dissertation under Knight in his 28 years at Chicago. Jacob Viner and Henry Simons also influenced him and, among his students, W. Allen Wallis and Milton Friedman.
  Stigler is best known for developing the Economic Theory of Regulation, also known as capture, which says that interest groups and other political participants will use the regulatory and coercive powers of government to shape laws and regulations in a way that is beneficial to them. This theory is a component of the public choice field of economics. He also carried out extensive research in the history of economic thought.
  
  wn.com/George_Stigler
• 
  Ibn Taymiyyah
  Taqi ad-Din Ahmad ibn Taymiyyah (January 22, 1263–1328 CE), full name: Taqī ad-Dīn Abu 'l-ʿAbbās Aḥmad ibn ʿAbd al-Ḥalīm ibn ʿAbd as-Salām Ibn Taymiya al-Ḥarrānī (Arabic: تقي الدين أبو العباس أحمد بن عبد السلام بن عبد الله ابن تيمية الحراني‎), was an Islamic scholar (alim), theologian and logician born in Harran, located in what is now Turkey, close to the Syrian border. He lived during the troubled times of the Mongol invasions. He was considered by his followers to be a member of the school founded by Ahmad ibn Hanbal and sought the return of Islam to what he viewed as earlier interpretations of the Qur'an and the Sunnah.
  Ibn Taymiyya was born in 1263 at Harran into a well-known family of theologians and died in Damascus, Syria, outside of the Muslim cemetery. His grandfather, Abu al-Barkat Majd ad-deen ibn Taymiyyah al-Hanbali (d. 1255) was a reputable teacher of the Hanbali school of law. Likewise, the scholarly achievements of ibn Taymiyyah's father, Shihab al-deen 'Abd al-Haleem ibn Taymiyyah (d. 1284) were well known. Because of the Mongol invasion, ibn Taymiyyah's family moved to Damascus in 1268, which was then ruled by the Mamluks of Egypt. It was here that his father delivered sermons from the pulpit of the Umayyad Mosque, and ibn Taymiyyah followed in his footsteps by studying with the scholars of his time. Although some claim that he was of Kurdish origin there seems to be no evidence indicating such claim.^{[citation needed]}
  
  wn.com/Ibn_Taymiyyah
• 
  James Denham-Steuart
  Sir James Steuart, 3rd Baronet of Goodtrees and eventually 7th Baronet of Coltness; late in life Sir James Steuart Denham, also called Sir James Denham Steuart (21 October 1713, Edinburgh – 26 November 1780, Coltness, Lanarkshire) was a prominent Jacobite, who wrote one of the first noteworthy books in English about economics. He assumed the surname of Denham late in life; he inherited his cousin's baronetcy of Coltness in 1773.
  He was the only son of Sir James Steuart, Solicitor General for Scotland under Queen Anne and George I, and was born in Edinburgh. After graduating from the University of Edinburgh he was admitted to the Scottish bar at the age of twenty-four.
  He then spent some years on the Continent, and while in Rome entered into relations with the Young Pretender, Charles Edward Stuart. He was in Edinburgh in 1745, and so compromised himself that, after the battle of Culloden, he found it necessary to return to the Continent, where he remained until 1763. It was not until 1771 that he was fully pardoned for any complicity he may have had in the rebellion. He died at his family seat, Coltness, in Lanarkshire.
  
  wn.com/James_Denham-Steuart
• 
  John Locke
  John Locke FRS ( /ˈlɒk/; 29 August 1632 – 28 October 1704), widely known as the Father of Classical Liberalism, was an English philosopher and physician regarded as one of the most influential of Enlightenment thinkers. Considered one of the first of the British empiricists, following the tradition of Francis Bacon, he is equally important to social contract theory. His work had a great impact upon the development of epistemology and political philosophy. His writings influenced Voltaire and Rousseau, many Scottish Enlightenment thinkers, as well as the American revolutionaries. His contributions to classical republicanism and liberal theory are reflected in the United States Declaration of Independence.
  Locke's theory of mind is often cited as the origin of modern conceptions of identity and the self, figuring prominently in the work of later philosophers such as Hume, Rousseau and Kant. Locke was the first to define the self through a continuity of consciousness. He postulated that the mind was a blank slate or tabula rasa. Contrary to pre-existing Cartesian philosophy, he maintained that we are born without innate ideas, and that knowledge is instead determined only by experience derived from sense perception.
  
  wn.com/John_Locke
• 
  Karl Marx
  Karl Heinrich Marx (5 May 1818 – 14 March 1883) was a German philosopher, economist, sociologist, historian, journalist, and revolutionary socialist. His ideas played a significant role in the development of social science and the socialist political movement. He published various books during his lifetime, with the most notable being The Communist Manifesto (1848) and Capital (1867–1894); some of his works were co-written with his friend and fellow German revolutionary socialist, Friedrich Engels.
  Born into a wealthy middle class family in Trier, formerly in Prussian Rhineland now called Rhineland-Palatinate, Marx studied at both the University of Bonn and the University of Berlin, where he became interested in the philosophical ideas of the Young Hegelians. In 1836, he became engaged to Jenny von Westphalen, marrying her in 1843. After his studies, he wrote for a radical newspaper in Cologne, and began to work out his theory of dialectical materialism. Moving to Paris in 1843, he began writing for other radical newspapers. He met Engels in Paris, and the two men worked together on a series of books. Exiled to Brussels, he became a leading figure of the Communist League, before moving back to Cologne, where he founded his own newspaper. In 1849 he was exiled again and moved to London together with his wife and children. In London, where the family was reduced to poverty, Marx continued writing and formulating his theories about the nature of society and how he believed it could be improved, and also campaigned for socialism—he became a significant figure in the International Workingmen's Association.
  
  wn.com/Karl_Marx
• Lawrence S. Ritter
  Lawrence S. Ritter (May 23, 1922 - February 15, 2004) was an American writer whose specialties were economics and baseball.
  Ritter was a professor of economics and finance, and chairman of the Department of Finance at the Graduate School of Business Administration of New York University. He also edited the academic periodical Journal of Finance from 1964 to 1966. He died at age 81 in New York City. His book, Principles of Money, Banking, and Financial Markets, coauthored with William L. Silber and Gregory F. Udell, has gone through twelve editions and has been a standard college text since it was first published in 1974.
  But Ritter is arguably best known for writing one of the most famous sports books of all time, The Glory of Their Times (1966, updated 1984). He collaborated with another baseball historian, Donald Honig, on The Image of Their Greatness (1979) and The 100 Greatest Baseball Players of All Time (1981, featuring several players who would later be dropped in favor of new players on several later all-time greats lists).
  
  wn.com/Lawrence_S._Ritter
• 
  Léon Walras
  Léon Walras (December 16, 1834 in France – January 5, 1910 in Clarens, near Montreux, Switzerland) was a French mathematical economist. He discovered the marginal theory of value (independently of William Stanley Jevons and Carl Menger) and pioneered the development of general equilibrium theory.
  Walras was the son of French economist Auguste Walras. His father was a school administrator and not a professional economist, yet his economic thinking had a profound effect on his son. He found the value of goods by setting their scarcity relative to human wants.
  Walras enrolled in the Paris School of Mines, but grew tired of engineering. He also tried careers as a bank manager, journalist, romantic novelist and a clerk at a railway company before turning to economics. Walras received an appointment as the professor of political economy at the University of Lausanne.
  Walras also inherited his father's interest in social reform. Much like the Fabians, Walras called for the nationalization of land, believing that land's value would always increase and that rents from that land would be sufficient to support the nation without taxes.
  
  wn.com/Léon_Walras
• 
  Paul A. Samuelson
  Paul Anthony Samuelson (May 15, 1915 – December 13, 2009) was an American economist, and the first American to win the Nobel Memorial Prize in Economic Sciences. The Swedish Royal Academies stated, when awarding the prize, that he "has done more than any other contemporary economist to raise the level of scientific analysis in economic theory." Economic historian Randall E. Parker calls him the "Father of Modern Economics", and The New York Times considered him to be the "foremost academic economist of the 20th century."
  He was author of the largest-selling economics textbook of all time: Economics: An Introductory Analysis, first published in 1948. It was the second American textbook to explain the principles of Keynesian economics and how to think about economics, and the first one to be successful, and is now in its 19th edition, having sold nearly 4 million copies in 40 languages. James Poterba, former head of MIT's Department of Economics, noted that by his book, Samuelson "leaves an immense legacy, as a researcher and a teacher, as one of the giants on whose shoulders every contemporary economist stands." In 1996, when he was awarded the National Medal of Science, considered America's top science honor, President Bill Clinton commended Samuelson for his "fundamental contributions to economic science" for over 60 years.
  
  wn.com/Paul_A._Samuelson
• Piero Sraffa
  Piero Sraffa (August 5, 1898 – September 3, 1983) was an influential Italian economist whose book Production of Commodities by Means of Commodities is taken as founding the Neo-Ricardian school of Economics.
  He was born in Turin, Italy, to a wealthy Italian Jewish family, to Angelo and Irma Sraffa. His father was a Professor in commercial law and later dean at the Bocconi University in Milan. Sraffa studied in his town and graduated at the local university with a work on inflation in Italy during and after World War I. Notably, his tutor was Luigi Einaudi, one of the most important Italian economists and later a president of the Italian Republic.
  From 1921 to 1922 he studied in London at the London School of Economics. In 1922 he was appointed as Director of the provincial labour department in Milan, then as Professor in Political economy first in Perugia, and later in Cagliari, Sardinia. In Turin he had met Antonio Gramsci (the most important leader of Italian Communist Party). They became close friends, partly due to their shared ideological views. He also was already in contact with Filippo Turati, perhaps the most important leader of Italian Socialist Party, whom he allegedly met and frequently visited in Rapallo, where his family had a holiday villa.
  
  wn.com/Piero_Sraffa
• Thomas Humphrey
  Thomas Humphrey (16 January 1839 – 3 September 1878) was an English cricketer who played first-class cricket for Surrey between 1862 and 1874. He was a right-hand batsman and a round arm right-armed slow bowler, and featured as an all-rounder for Surrey with four centuries and 116 wickets (though his batting was more significant than his bowling). He was a member of the Surrey side that was generally reckoned as Champion County for 1864. His best season with the bat was 1865, when he reached one thousand runs for the only time: 1223 at 29.82.
  After 1873, he played in only four more first-class matches: one final match for Surrey in 1874, two for the South against the North in 1875, and lastly for United South of England Eleven v United North of England Eleven in a match that began on 13 July 1876. According to David Lemmon, with Harry Jupp he formed the first great opening partnership for Surrey, one which caused "a sensation" with "their bright and attractive cricket, their long partnerships, by their speed between the wickets." He was known as the Pocket Hercules, because although short he could hit powerfully. He was particularly strong on the off-side, and appeared to have plenty of time to play his shots.
  
  wn.com/Thomas_Humphrey

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