This glossary of economics is a list of definitions containing terms and concepts used in economics, its sub-disciplines, and related fields.
Empirical methods Prescriptive and policy Also called resource cost advantage.Also called advertising elasticity.Also called agrarian inflation.Also called domestic final demand (DFD) or effective demand.Also called domestic final supply (DFS).Also called the shipping the good apples out theorem, or the third law of demand.Also called uncertainty aversion.Also called the national system.Also called a competition law or anti-monopoly law.Also called the Arrow–Debreu–McKenzie model or ADM model.Also called a state-price security, pure security, or primitive security.Also called Arrow's disclosure paradox.Also called the general possibility theorem or Arrow's paradox.Also called exogenous consumption.Also called unit cost.Also called the Backus–Kehoe–Kydland consumption correlation puzzle or BKK puzzle.Also called the Backus-Smith consumption-real exchange rate puzzle or consumption – real-exchange-rate anomaly.Also called the advantage of backwardness or the latecomer's advantage.Also called the latecomer's disadvantage.Also called balance of international payments and abbreviated B.O.P.
or BoP.Also called commercial balance or net exports (NX).Also called the discount rate in American English.also called direct exchange.Also called the exchange rate disconnect puzzle.Also called mixflation.Also called the Black–Scholes–Merton model.Also called the Sam Vimes theory of socioeconomic unfairness.Also called the break-even point (BEP).Also simply called spending.Also called an opportunity set.Also called intervention storage or the ever-normal granary.Also called the economic cycle or trade cycle.Also called the corporate sector or sometimes simply business.Also called the capital controversy or the two Cambridges debate.Also called the capital and financial accountAlso called a reserve bank or monetary authority.Also called circular flow model.Also called classical political economy.Also called artificially scarce goods, toll goods, collective goods or quasi-public goods.Also called cobweb theory.Also called social dilemmaAlso called opportunity cost advantage.Also called compensating wage differential or equalizing difference.Also called an antitrust law or anti-monopoly law.Also called applied general equilibrium (AGE).Also called the catch-up effect.Also called corporation tax or company tax.Also called cost increase or budget overrun.Sometimes called benefit costs analysis (BCA).Also called sucker rally.Also called excess burden or allocative inefficiency.Also called budget deficit or simply deficit.Also called population economics.Also called qualitative choice.Also called non-Walrasian theory, equilibrium with rationing, the non-market clearing approach, and non-tâtonnement theory.Also called Dorfman–Steiner condition.Also called the Pigou–Knight–Downs paradox.Also called the Lewis model.Also called DDC models ordiscrete choice models of dynamic programming.Also abbreviated DGE and SDGE.Also called a democratic economy.Also called economic profits.Also called financial security.Also called excess demand.Also called excess supply.Also called an economic order.
[147]Also called agglomeration effects.Also called an Edgeworth-Bowley box.Also called efficiency earnings.Also called a PEEF division.Also called efficient market theory (EMT).Also called intertemporal elasticity of substitution (IES).Also called Elliott wave theory.Also called Ellsberg's paradox.Also called economic equality.Also called economic surplus.
[168]Also called deep poverty, abject poverty, absolute poverty, destitution, or penury.Often simply the Federal Reserve or the Fed.Also called the currency market or abbreviated Forex or FX.Also called Keynesianism.Also called the local premiumAlso called orthodox economics.German for "method dispute.