Economics

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A Priori
Economics Econometrics
Reasoning from assumptions and logic before looking at data, often used to build economic models.
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Abatement
Economics Public Finance
Any action that reduces pollution or other harmful environmental damage.
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Abatement Cost
Economics Public Finance
The cost of reducing pollution, either for one more unit or for a total amount of cleanup.
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Absolute Advantage
International Economics Economics
The ability to produce a good or service using fewer inputs than another producer.
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Abstinence
Economics Macroeconomics
An older economic term for postponing present consumption in order to save and invest for the future.
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Accounts
Accounting Economics
How accounts organize financial records and reduce information problems in firms and public institutions.
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Accrual Rate
Economics Risk Management
The share of pensionable pay a defined-benefit plan credits for each year of service.
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Acquisitions Approach
Economics Statistics
A CPI approach that records prices when households acquire goods and services rather than when they consume service flows over time.
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Actuarially Fair Odds
Economics Risk Management
Odds or premiums set equal to expected loss before expenses, capital costs, and risk loadings are added.
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Adaptation
Economics Public Finance
Investment and behavior change that reduces the damage caused by climate change.
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Adjustment
Economics Macroeconomics
The process by which markets, firms, households, or data series move toward a new position after a shock or new information.
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Advisory, Conciliation and Arbitration Service (ACAS)
Labor Economics Economics
A UK public body that helps employers and workers resolve disputes at lower cost than prolonged conflict or litigation.
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Agent-Based Modelling
Economics Econometrics
A computational approach that simulates many interacting agents and studies the macro patterns that emerge from their behavior.
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Aggregation
Economics Macroeconomics
The process of combining many individual values into macro-level totals, averages, or indexes.
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Aggregation Problem
Economics Macroeconomics
The difficulty of representing a heterogeneous economy with a few aggregate variables without distorting the underlying relationships.
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American Economic Association
Economics
A professional association that publishes economics research, runs conferences, and helps organize the economics job market.
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Annuity Factor
Economics Valuation
The present value of a stream of equal payments and the key bridge between a lump sum and periodic income.
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Annuity Rate
Economics Valuation
The payout rate that turns a premium or lump sum into periodic annuity income.
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Anomalies in Economics
Behavioral Economics Economics
Systematic patterns in data or behavior that do not fit a commonly used benchmark model.
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Anti-dumping Action
International Economics Economics
A trade-remedy investigation into whether imports are dumped and whether they injure a domestic industry.
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Anti-Dumping Duty
International Economics Economics
An extra import tariff imposed after an anti-dumping investigation finds dumping and injury.
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Anti-Pollution Measures
Economics Public Finance
Policies that reduce pollution by pricing emissions, limiting them directly, or changing incentives.
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Apprenticeship
Labor Economics Economics
A paid training arrangement that combines work experience with structured skill formation.
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Appropriation Bill
Public Finance Economics
Legislation that authorizes the government to spend public money for approved purposes.
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Arbitrage
Investments Economics
Profiting from price differences for the same or equivalent asset across markets or forms.
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Arbitration
Economics
A dispute-resolution process where a neutral arbitrator issues a decision (often binding) outside the court system.
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Arrow-Debreu Economy
Microeconomics Economics
A general-equilibrium model with complete contingent-commodity markets.
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Arrow-Debreu State Price
Valuation Economics
The current price of one unit of payoff delivered in one specific future state.
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Arrow's Impossibility Theorem
Economics
A result showing that no voting rule can satisfy several appealing fairness conditions at the same time.
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Asia-Pacific Economic Cooperation (APEC)
International Economics Economics
A regional forum that promotes trade, investment, and economic cooperation across the Asia-Pacific.
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Asset Motive (Speculative Motive for Holding Money)
Macroeconomics Economics
The reason people hold money when they prefer liquidity over interest-bearing assets.
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Asset Stripping
Corporate Finance Economics
A takeover or restructuring strategy focused on selling valuable assets rather than operating the firm as an integrated business.
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Assets
Accounting Economics
Resources with economic value that can generate future benefits.
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Asymmetric Information
Microeconomics Economics
A situation in which one side of a transaction knows more relevant information than the other.
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Audit
Accounting Economics
An independent review of financial records and controls designed to improve credibility and reduce information problems.
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Augmented Phillips Curve
Macroeconomics Economics
A Phillips-curve framework that adds inflation expectations to the inflation-unemployment relationship.
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Autarchy
International Economics Economics
A condition of economic self-sufficiency in which a country relies little or not at all on international trade.
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Autonomous Investment
Macroeconomics Economics
Investment spending that does not depend directly on current income or output.
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Autonomous Pension Funds
Risk Management Economics
Pension funds that are institutionally separate from the sponsoring employer or government budget.
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Average Cost
Microeconomics Economics
Total cost per unit of output.
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Average Tax Rate
Taxation Economics
Total tax paid divided by the total tax base.
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Avoidable Cost
Microeconomics Economics
A cost that disappears if a product, activity, or decision is not undertaken.
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Avoidance
Taxation Economics
Lawful structuring of behavior or transactions to reduce tax liability.
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Axiom
Economics
A basic assumption accepted without proof and used to build an economic model or theory.
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Axioms of Preference
Microeconomics Economics
Basic assumptions used to describe rational preferences in consumer theory.
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Balance
Economics Macroeconomics
A condition of equality or offsetting forces used in economics to describe stable relationships or positions.
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Balance Sheet
Accounting Economics
A statement showing assets, liabilities, and equity at a point in time.
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Balancing Item
Economics Statistics
A statistical adjustment used when two theoretically equal aggregates do not match in measured data.
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Banking
Banking Economics
The business of taking deposits, extending credit, and providing payment and financial intermediation services.
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Bankruptcy
Credit and Lending Economics
A legal process for dealing with debts that cannot be repaid in full.
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Barter
Economics Microeconomics
Direct exchange of goods or services without using money as the payment medium.
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Barter Economy
Economics Microeconomics
An economy in which exchange takes place through direct trade rather than through money.
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Base Period
Statistics Economics
The reference period against which an index number is compared.
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Baseline
Economics Statistics
A baseline is the reference case used to compare actual outcomes, policy changes, or alternative scenarios.
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Basis Point
Fixed Income Economics
A basis point is one hundredth of a percentage point, used to describe small changes in rates, yields, and spreads.
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Batch Production
Economics Microeconomics
Batch production means making goods in groups or runs rather than as a continuous flow or as one-off custom output.
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Battle of the Sexes
Economics Microeconomics
A coordination game in which both players prefer coordinating to mismatching, but each prefers a different coordinated outcome.
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Bear
Investments Economics
A bear is an investor or market participant who expects prices to fall and positions accordingly.
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Benefits in Kind
Public Finance Economics
Benefits in kind are goods or services provided directly rather than paid out as cash.
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Benefits System
Public Finance Economics
A benefits system is the set of public programs that provide income support or services when households face low income, unemployment, disability, or other need.
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Benelux
International Economics Economics
Benelux is the economic union of Belgium, the Netherlands, and Luxembourg, often treated as an early example of regional economic integration.
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Bergson-Samuelson Social Welfare Function
Economics Microeconomics
The Bergson-Samuelson social welfare function represents social welfare as a function of individual utilities, making value judgments explicit.
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Beveridge Report
Public Finance Economics
The Beveridge Report was the 1942 UK report that helped shape the postwar welfare state through proposals for social insurance and full-employment policy.
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Bid
Economics Trading
A bid is an offer price made by a buyer in a market, auction, or takeover process.
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Big Bang
Economics Development Economics
In economics, a big bang is a strategy of rapid, comprehensive reform rather than gradual, step-by-step adjustment.
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Big Push
Development Economics Economics
The big push is a development-economics idea that poor countries may need coordinated large-scale investment across sectors to escape low-level traps.
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Bilateral Trade
International Economics Economics
Bilateral trade is trade conducted directly between two countries, often under a specific agreement or balancing arrangement.
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Billion
Economics Statistics
A billion means one thousand million in modern economic and financial usage.
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Biodiversity Index
Economics Statistics
A biodiversity index summarizes how many species are present and how evenly they are distributed in an ecosystem.
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Biological Interest Rate
Macroeconomics Economics
The biological interest rate is the return generated by population growth in simple overlapping-generations models.
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Black Economy
Economics Public Finance
The black economy consists of production, trade, and income that are hidden from the state to avoid tax, regulation, or legal detection.
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Black Market
Microeconomics Economics
A black market is an illegal market in which goods or services are traded outside official rules, often at prices different from the legal price.
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Black Swan
Risk Management Economics
A black swan is a rare event with very large consequences that standard models often fail to anticipate.
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Blair House Agreement
International Economics Economics
The Blair House Agreement was a 1992 U.S.-EC deal that helped break the agricultural deadlock in the Uruguay Round trade talks.
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Blue-Collar Worker
Labor Economics Economics
A blue-collar worker is a worker whose job is centered on manual, technical, production, maintenance, or transport tasks.
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Bonus
Labor Economics Economics
A bonus is pay given in addition to base wages or salary, usually to reward performance, retention, or a specific outcome.
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Boom
Macroeconomics Economics
A boom is a phase of rapid economic expansion marked by strong spending, rising output, tight labor markets, and often upward pressure on prices.
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Competitive Advantage
Market Structure Economics
A durable edge that lets a firm earn returns above rivals through lower cost, differentiation, or strategic positioning.
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Cost-Effectiveness
Public Finance Economics
A decision criterion that compares policy or project costs to measurable outcomes when benefits are not fully monetized.
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Depreciation
Economics Accounting Foreign Exchange
How depreciation works for assets and currencies, and why the distinction matters in economics.
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Economic Efficiency
Microeconomics Economics
A condition where resources are allocated to maximize total welfare given technology and constraints.
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Financial Markets
Economics
Markets where financial claims (stocks, bonds, currencies, derivatives) are issued and traded to allocate capital and price risk.
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Greenhouse Gases
Economics Public Finance
Gases that trap heat in the atmosphere; economically, emissions create a global negative externality through climate damages.
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Housing Association
Public Finance Economics
A non-profit housing provider that supplies below-market or regulated housing within local housing systems.
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Juglar Cycle
Macroeconomics Economics
A medium-term business cycle, often linked to investment and credit dynamics, lasting roughly 7 to 11 years.
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Menu Costs
Macroeconomics Economics
The real costs firms face when changing prices, which can generate aggregate price stickiness.
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Multilateralism
International Economics Economics
An approach to international economic cooperation based on common rules across many countries.
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Not-for-Profit Organization
Economics Public Finance
An organization that reinvests any surplus into its mission instead of distributing profits to owners.
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Social Purpose Company
Corporate Finance Economics
A for-profit corporate form that commits to a stated social or environmental purpose alongside profit.
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Standard Industrial Classification
Economics Statistics
A coding framework used to classify business activities for statistics, regulation, and economic analysis.
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