U-shaped Average Cost Curve
A description of the U-shaped average cost curve in economics and its implications on production and cost structures.
u–v curve
A graphical representation mirroring the Beveridge curve that illustrates the relationship between job vacancies (v) and unemployment (u)
UK Data Service
A comprehensive source of digitized economic and social data provided by the ESRC for research, education, and policy development.
Unanimity Rule
A voting rule requiring unanimous approval for an alternative to be selected.
Unbiased Estimator
Explanation and significance of an unbiased estimator in statistics and econometrics
Unbiased Expectations Hypothesis
A comprehensive entry on the Unbiased Expectations Hypothesis, including background, historical context, definitions, major analytical frameworks, comparative analysis, and related terms.
Unbundling
A comprehensive entry on the concept of unbundling in economics.
Uncertainty
A comprehensive exploration of the economic concept of uncertainty.
Uncompetitive
Definition and implications of being unable to realize potential profit due to high costs, poor quality, or other competitive disadvantages.
Unconditional Grant
An overview of unconditional grants, including their definition, historical context, and use in economic frameworks.
Uncovered Interest Parity
A relationship between domestic and foreign interest rates under the assumption that the forward currency market is not used to hedge exchange rate risk.
Undated Security
A security with no set redemption date; obligates the borrower to pay interest but not to redeem it.
Under-Capitalized
Understanding the implications of under-capitalization in various economic frameworks and its impact on businesses and financial institutions
Under-developed Countries
A comprehensive entry on under-developed countries, offering definitions, historical context, and analytical frameworks.
Under-funded Pension Scheme
A pension scheme with insufficient accumulated funds to meet expected future liabilities.
Under-subscription
Failure of applications for shares in a new issue to match the number on offer.
Under-Valued Currency
A detailed exploration of the concept of an under-valued currency, its consequences, causes, and related economic aspects.
Underemployment
Employment of skilled workers in unskilled jobs or involuntary part-time employment. Includes hidden unemployment.
underground economy
Definition and meaning of the term 'underground economy', focusing on unrecorded economic activities.
Underlying Rate of Inflation
An overview of the underlying rate of inflation, particularly in the UK context, distinguishing it from the headline rate of inflation.
Understanding Society
Understanding Society is an annual longitudinal survey of UK households that gathers comprehensive data on economic and social circumstances, attitudes, behavior, and health.
Underwriter
A detailed look at underwriters in finance, their roles, and functions.
Underwriting
The provision by merchant banks of a guaranteed market for a new issue of shares
Undistributed Profits
Profits retained within a business, not paid out in taxes or dividends, used for reinvestment purposes.
Unearned Income
Personal income derived from sources other than work. It thus consists of rent, dividends, interest, and transfer payments.
Unemployable
Comprehensive analysis of the term 'unemployable' in the context of Economics. Covers its definition, historical context, analytical frameworks, case studies, and related terms.
Unemployment
Understanding Unemployment: Definitions, Measurement, Frameworks, and Analysis
Unemployment Benefit
An economic term referring to income support payments to the unemployed, with national and regional variations in its implementation.
Unemployment Rate
Definition and Meaning of Unemployment Rate in Economics.
Unexpected Inflation
Inflation at a higher or lower rate than had been expected, affecting wage agreements, loan contracts, and purchasing power distribution.
unfair competition
Business practices that involve disadvantaging competitors via unethical or illegal strategies.
Unfair Dismissal
Understanding the concept of unfair dismissal in employment law.
Unfunded Pension Scheme
A pension scheme where current beneficiaries are paid from current revenue or contributions without a pension fund.
Unified Budget
The system by which the UK Parliament is presented with a budget covering both government spending and tax plans, to be considered together.
Uniform Business Rate
The UK system of property taxes on business premises in force since 1990.
Uniform Distribution
A comprehensive entry on the concept of Uniform Distribution in economics, including its definitions, historical context, and major analytical frameworks.
Unimodal Distribution
A distribution that has a single unique mode, or peak.
Union
A comprehensive analysis of the term 'union' in economic contexts, including customs union, payments union, and trade union
Union of South American Nations (UNASUR)
An overview of the Union of South American Nations (UNASUR), its foundation, development, and economic implications.
Union/Non-Union Wage Differential
An exploration of the wage differences between unionized and non-unionized workers.
unionized
Explanation of unionized occupation or workplace involving labor unions representing worker interests.
Unique Equilibrium
Definition and examination of the term unique equilibrium in economics.
Unit Elasticity
Definition and exploration of Unit Elasticity in Economics
Unit of Account
A standard monetary unit used to measure the value of goods and services, pivotal for the expression of contracts and the assessment of incomes and profits.
Unit Root Process
A comprehensive overview of the unit root process in time series analysis within economics.
Unit Trust
A UK system that allows small investors to benefit from diversified portfolios by purchasing units in a trust.
Unit-free Measure
A comprehensive dictionary entry on unit-free measure in economics.
Unitary Taxation
A system of taxing firms operating in several countries based on a country’s share in their total operations.
United Nations Conference on Trade and Development (UNCTAD)
Understanding the role and significance of the United Nations Conference on Trade and Development (UNCTAD).
United Nations Development Programme
An UN agency providing technical assistance and soft loans to less developed countries.
Universal Benefit
An overview of universal benefit, its historical context, economic implications, and comparative analysis with means-tested alternatives.
Universal Credit
Universal Credit is a welfare benefit paid in the UK to individuals who are on low incomes or are unemployed.
Unlimited Liability
An economic term describing a business owner's responsibility for all the debts and financial obligations of their business without limit.
Unlisted Securities Market
Explanation and analysis of the Unlisted Securities Market (USM)
Unofficial Economy
An overview of the unofficial economy, also known as the hidden economy, which encompasses all economic activities that occur outside of formal and official mechanisms.
Unpaid Labour
An exploration of unpaid labour, encompassing various types of non-remunerated work contributions.
Unsecured Loan
A loan where the creditor has no claim on any particular asset of the debtor in the event of default.
Unskilled Work
An exploration of the concept, history, and analytical frameworks related to unskilled work in economics.
Unsterilized Intervention
An overview of unsterilized intervention in the foreign exchange markets in economics.
Untied Aid
Understanding untied aid, its significance in international economics, and its impact on recipient and donor countries.
Unwind
Unwinding an investment position, particularly in futures contracts.
Upstream
An examination of the term 'upstream' within the context of economic supply chains and backward integration.
Urban Economics
The study of the economics of urban areas including factors influencing the growth of towns and metropolitan areas, and challenges unique to conurbations.
Uruguay Round
An overview of the Uruguay Round trade talks under the General Agreement on Tariffs and Trade (GATT) which occurred from 1986 to 1994.
US Deficit
An overview of the United States budget deficit, its historical trends, causes, and economic implications.
US Trade Representative
An office set up to formulate US trade policy and conduct trade negotiations, forming part of the Executive Office of the President.
User Cost of Capital
A comprehensive overview of the user cost of capital, including its definitions, frameworks, historical context, and case studies.
Usury
Charging excessive interest on loans
Usury Laws
Laws restricting the level of interest that could be charged or paid for loans to prevent exploitation.
Util
The concept of a util as a theoretical unit of measurement for utility in economics.
Utilitarianism
An ethical doctrine judging the value of an action by its contribution to overall utility
Utility
An exploration of the concept of utility in economics, its definitions, and applications across various economic theories.
Utility Function
Definition and Meaning of the Utility Function in Economics
Utility Function
Definition and Meaning of the Utility Function in Economics
Utility Maximization
Detailed exploration of the concept of utility maximization in economics, including its historical context, definitions, and major analytical frameworks.
Utility Possibility Frontier
An exploration of the concept of Utility Possibility Frontier in economics, its definitions, frameworks, and applications.