Economics and Finance. Global Education, Economy , English Language, From Wikipedia

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• published: 14 Oct 2015
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All Music is from Incompetech and Youtube Library Creative Comons Economics is the social science that seeks to describe the factors which determine the production, distribution and consumption of goods and services. The term economics comes from the Ancient Greek οἰκονομία from οἶκος (oikos, "house") and νόμος (nomos, "custom" or "law"), hence "rules of the house (hold for good management)".[1] 'Political economy' was the earlier name for the subject, but economists in the late 19th century suggested "economics" as a shorter term for "economic science" to establish itself as a separate discipline outside of political science and other social sciences.[2] Economics focuses on the behavior and interactions of economic agents and how economies work. Consistent with this focus, primary textbooks often distinguish between microeconomics and macroeconomics. Microeconomics examines the behavior of basic elements in the economy, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the entire economy (meaning aggregated production, consumption, savings, and investment) and issues affecting it, including unemployment of resources (labor, capital, and land), inflation, economic growth, and the public policies that address these issues (monetary, fiscal, and other policies). Other broad distinctions within economics 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"). Areas of finance London Stock Exchange, global center of finance. Wall Street, the center of American finance. Personal finance Main article: Personal finance Questions in personal finance revolve around: Protection against unforeseen personal events, as well as events in the wider economy Transference of family across generations (bequests and inheritance) Effects of tax policies (tax subsidies and/or penalties) on management of personal finances Effects of credit on individual financial standing Development of a savings plan or financing for large purchases (auto, education, home) Planning a secure financial future in an environment of economic instability Personal finance may involve paying for education, financing durable goods such as real estate and cars, buying insurance, e.g. health and property insurance, investing and saving for retirement. Personal finance may also involve paying for a loan, or debt obligations. The six key areas of personal financial planning, as suggested by the Financial Planning Standards Board, are.