Skip to main content

Economics: Home

the social science concerned chiefly with description and analysis of the production, distribution, and consumption of goods and services

Introduction

 Economics focuses on how individuals, governments, businesses and nations decide how to allocate scarce resources to satisfy their unlimited wants. Economics is often divided into: macroeconomics, which concentrates on the behavior of the aggregate economy; and microeconomics, which focuses on individual consumers.


Two of the major approaches in economics are referred to as the classical and Keynesian approaches. Classical economists believe that markets function very well, will quickly react to any changes in equilibrium and the government should take a  "laissez faire" approach to the economy..

Keynesian economists, however, believe that markets react very slowly to changes in equilibrium (especially to changes in prices) and that active government intervention is sometimes the best approach to return the economy to equilibrium.

News from The Economist

Loading

We Can Help!

question mark icon

We're here for YOU!

Remember you can always contact us with questions.

Email: lrdreference@udc.edu

Phone: 202-274-5104

In-Person: Bldg 41, 5th Floor

Recommended Databases

This is a just a small list of all the databases available from the library for your economics research and assignments.

Recommended Books

Recommended Websites

Subject Guide

Christopher Anglim's picture
Christopher Anglim
Contact:
Learning Resources Division
Room 201-D
Building 41
University of the
District of Columbia
Van Ness Campus
202-274-5843