Enterprise Zone
An area subject to special treatment by the government to encourage investment and employment.
Entitlement Program
Detailed analysis and understanding of the term 'Entitlement Program' in economics.
Entitlements
A comprehensive dictionary entry on the economic concept of entitlements.
Entrepôt
A place where goods are imported and re-exported without processing.
Entrepreneur
A person with overall responsibility for decision-taking in a business, who receives any profits, and bears any losses.
Entry
Access to a market by a new supplier.
Envelope Curve
The outer envelope of a set of curves in economics, often used in the context of long-run and short-run cost functions.
Envelope Theorem
A definition and analysis of the Envelope Theorem in economics and its implications in optimization problems.
Environment
The external conditions and resources which influence human life and development.
Environmental Economics
Study of the economic effects of national or local environmental policies.
Environmental Protection Agency
A comprehensive entry on the Environmental Protection Agency (EPA) focusing on its definition, historical context, and analytical frameworks within economics.
Environmental Taxes
Key insights into environmental taxes, their importance, implementation, and impact in the realm of economics
Equal Employment Opportunity Commission
A U.S. federal agency that enforces anti-discrimination laws in employment (hiring, pay, promotion, and firing).
Equal Pay
Definition and meaning of equal pay in employment, highlighting legislation and general principles.
Equal Sacrifice
The principle that the tax burden should be allocated across individuals so that each makes an equal sacrifice.
Equality and Human Rights Commission
An independent non-departmental UK public body established to eliminate discrimination, reduce inequality, protect human rights, and ensure everyone has a fair chance to participate in society.
Equalization Grant
A grant provided by central government to address income disparities among local authorities by compensating those with lower taxable capacities.
Equalizing Wage Differential
A wage differential necessary to compensate workers for non-pecuniary disadvantages of a job.
Equilibrium
An analysis of equilibrium concepts, their significance, and applications in various economic theories.
Equilibrium Price
Equilibrium price refers to the price at which the quantity of a good supplied is equal to the quantity demanded.
Equilibrium Quantity
The quantity of a good supplied and demanded when the market price has reached a level where supply equals demand.
Equities
The ordinary shares (UK) or common stock (US) of companies, embodying ownership and claims to the residual profits.
Equity
The concept of distributive justice in welfare economics
Equity Capital
Definition and meaning of equity capital in finance: Company finance raised in exchange for a share of ownership.
Equity Withdrawal
Overview of equity withdrawal, its significance, applications, and implications in economic analysis.
Equity-Linked Assurance
A system of life insurance where the benefits to be received are linked to the level of an index of equity share prices.
Equivalence Scale
A method of adjusting household incomes to account for differences in demographic composition.
Equivalent Variation
The amount of additional income required to reach the utility level achievable if the economic environment changes.
Equivalent Variation
An economic metric used to gauge the welfare change regarding a price change or policy intervention by comparing the amount of income needed to achieve original utility under new circumstances.
Error Correction Model
A model used for estimating the short-run dynamic relationship among cointegrated variables and their adjustments towards long-term equilibrium.
Error Term
Definition and explanation of the error term in the context of regression analysis in economics
Errors in Variables Bias
The bias of an estimator caused by measurement errors in the data.
Escalator Clause
A contract clause that adjusts wages, rents, or prices over time using an inflation index (such as the CPI).
Estate Duty
An examination of the defunct UK tax on the estate of a deceased person, replaced first by capital transfer tax and later by inheritance tax.
Estimate
Definition and meaning of the term 'estimate' in econometrics.
Estimates
Proposals on expenditure in the coming financial year included in the UK government’s annual budget.
Estimator
A rule for using observed sample data to calculate the unobserved value of a population parameter.
EU Emissions Trading Scheme (EU ETS)
Overview and analysis of the EU Emissions Trading Scheme (EU ETS), a cornerstone of the European Union's climate policy.
Euler’s Theorem
A comprehensive entry on Euler’s theorem in economics, describing its meaning, application, and historical context.
Euro - The Single European Currency
An overview of the Euro, its adoption, historical context, and significance within the European Monetary Union.
Eurobarometer
A comprehensive analysis of the Eurobarometer surveys conducted in EU countries by the communication service of the European Commission.
Eurobond
A bond issued in a eurocurrency, which is a European currency held outside its country of origin, featuring various maturities and interest rates without withholding taxes.
Eurocurrency
A comprehensive definition and analysis of eurocurrency, its historical context, major analytical frameworks, and case studies.
Eurodollars
A comprehensive overview of eurodollars, a type of eurocurrency primarily referring to US dollars deposited in banks outside the United States.
euroland
A slightly derogatory term for the geographical area consisting of the countries that have adopted the euro. The more formal term is eurozone.
Euromarket
A market dealing in eurobonds and eurocurrencies held in European countries other than their country of origin.
Europe Agreements
Agreements between the European Union and candidate countries outlining institutional, legal, and trade adjustments needed for EU membership.
European Bank for Reconstruction and Development (EBRD)
An international bank established to aid the transition of Central and Eastern Europe and former Soviet states to market economies.
European Central Bank
The central institution of the European Monetary Union (EMU) responsible for monetary policy, interest rates, and issuing euro currency.
European Coal and Steel Community
A European body established in 1952 to create a common market for coal and steel among its member states.
European Commission
The main executive body of the European Union (EU)
European Community
An overview of the European Community, its formation, historical context, and its evolution into the European Union.
European Currency Unit (Ecu)
A unit of account introduced by the European Economic Community when forming the European Monetary System in 1979, used primarily by official European bodies in accounting, and superseded by the euro in 1999.
European Economic Community
European Economic Community - The European common market set up in 1958 by the original six members of the European Coal and Steel Community.
European Economic Integration
An in-depth look at the process by which European countries are becoming more interconnected in terms of trade and finance, alongside other socio-economic aspects.
European Financial Stability Facility
Temporary crisis resolution mechanism created by eurozone member states to safeguard financial stability by providing loans.
European Free Trade Association
An association of European countries established in 1959 to promote free trade among its member states.
European Monetary Institute
A European organization established to study the problems of organizing a European Central Bank
European Monetary System
Description of the European Monetary System and its significance.
European Monetary Union
The common monetary system for Europe including coordination of monetary policies, the creation of the European Central Bank, and the adoption of the single European currency.
European Single Market
Definition and meaning of the European Single Market
European Social Survey
A comparative survey of attitudes and values conducted in 34 European countries every two years since 2001.
European Stability Mechanism
An EU institution that provides financial assistance to euro area member states in financial difficulty.
European System of Central Banks
Understanding the structure and functions of the European System of Central Banks (ESCB)
European Union
The name since 1993 of the former *European Community*. An economic and political union of European countries.
Eurosystem
The monetary authority of the eurozone, composed of the European Central Bank and the central banks of the EU member states that have adopted the euro.
Eurozone
Countries that have abolished their national currencies and adopted the euro.
Evolutionary Theory of the Firm
A theory outlining the adaptive behavior and survival of firms through an evolutionary process, focusing on innovation and natural selection.
Ex Ante
An overview of the term 'ex ante,' its definitions, and implications in economic analysis.
Ex Dividend
The concept of ex dividend in stock trading, where the vendor retains rights to declared but unpaid dividends.
ex post
A post-outcome perspective in economic analysis representing actual occurrences contrasted with anticipated values.
Excess Burden
Definition and explanation of excess burden in economics, synonymous with deadweight loss.
Excess Capacity
A comprehensive overview of excess capacity in economics
Excess Demand
A detailed exploration into the concept of excess demand, its implications for economic equilibrium, and notable theoretical contributions.
Excess Profit
An examination of the term 'excess profit,' which refers to profits above the level necessary to retain an entrepreneur in their current business.
Exchange
Understanding the concept of exchange in economics and its implications.
Exchange Control
A system regulating the conversion of national currency into foreign currencies subject to official permission or approval.
Exchange Equalization Account
A UK government account at the Bank of England for managing gold and foreign exchange reserves and IMF special drawing rights.
Exchange Rate
The price of one currency in terms of another.
Exchange Rate Bands
Limits to variations in exchange rates when a country commits itself to hold the exchange rate between its own currency and some foreign currency or currencies within a limited band.
Exchange Rate Mechanism (ERM)
A key feature of the European Monetary System (EMS) used to maintain currency stability within Europe.
Exchange Rate Overshooting
An exploration of the term 'exchange rate overshooting,' its meaning, historical context, and analytical frameworks in economic theory.
Exchange Rate Regime
A comprehensive overview of the systems by which exchange rates between different currencies are determined.
Exchange Restrictions
Understanding Exchange Restrictions and Their Economic Impact
Excise Duty
A comprehensive overview of excise duty, including its definition, historical context, and analytical frameworks.
Exclusion
The legal right and practical ability to prevent others from using a good, crucial for defining private and public goods.
Exclusive Dealing
An overview of exclusive dealing in the context of economics.
Exercise Price
The predetermined price at which an option holder can buy or sell the underlying asset.
Exhaustible Resources
Understanding Exhaustible Resources in Economics
Existence of Equilibrium
The demonstration that an equilibrium exists for an economic model or a game.
Exit
Understanding the term 'exit' in economics, particularly in the context of firm dynamics within an industry.
Exit Price
Exploration of the concept of exit price in economics, referring to the price below which firms are likely to leave an industry.
Exogenous Expectations
Expectations that are formed outside the economic system and are not based on its parameters.
Exogenous Variable
A variable not related to other economic variables in the system under consideration by causal links but determined by factors outside the system.
Expectations
An exploration of the role of expectations in economics, including various types and their impact on economic decision-making
Expectations-Augmented Phillips Curve
A version of the Phillips curve that includes the influence of expected inflation on wage increases and demand pressure.
Expected Inflation
The anticipated rate of inflation projected by individuals or institutions for different future time periods.
Expected Utility
A measure used in economics to denote the anticipated value of an uncertain situation in relation to wealth.
Expected Utility
A measure used in economics to denote the anticipated value of an uncertain situation in relation to wealth.
Expected Value
Expected value is the probability-weighted average outcome of a random variable.