economic science
Học thuậtThân thiện
Definition
- Noun:
- The branch of social science that deals with the production, distribution, and consumption of goods and services, and their management: Economic science is the systematic study of how societies allocate scarce resources to satisfy unlimited wants. It analyzes the processes and systems involved in wealth creation, trade, and financial management.
Usage Examples
- Noun:
- She holds a doctorate in economic science.
- The principles of economic science help us understand market fluctuations.
- This policy was developed based on rigorous economic science.
Advanced Usage
"Applied economic science": The practical application of economic theories to solve real-world problems in business, government, and finance.
- The consultant used applied economic science to optimize the company's supply chain.
"The dismal science": A historical, sometimes pejorative, nickname for economics, originating from Thomas Carlyle, highlighting its focus on scarcity and constraints.
- He jokingly referred to his finance course as a study in the dismal science.
Variants and Related Words
Economics (n): The more common, abbreviated term for economic science. They are often used interchangeably.
- He studied economics at university.
Economist (n): A scholar or expert in the field of economic science.
- The economist published a paper on global trade.
Synonyms
- Economics: The study of the economy.
- Political economy: An older term emphasizing the interplay between politics and economic systems.
Related Phrases
Economic theory: A system of ideas intended to explain economic phenomena.
- Her research contributes to new economic theory.
Economic model: A simplified framework designed to illustrate complex economic processes.
- The team built an economic model to forecast growth.
Noun
- the branch of social science that deals with the production and distribution and consumption of goods and services and their management