Brno, Czech Republic

Economics

Ekonomie

Language: Czech Studies in Czech
Subject area: economy and administration
University website: www.muni.cz/
Years of study: 4
Economics
Economics () is the social science that studies the production, distribution, and consumption of goods and services.
Economics
Economics is not simply a topic on which to express opinions or vent emotions. It is a systematic study of what happens when you do specific things in specific ways. In economic analysis, the methods used by a Marxist economist like Oskar Lange did not differ in any fundamental way from the methods used by a conservative economist like Milton Friedman.
Thomas Sowell, Ch. 1 What is Economics? in Basic Economics
Economics
In my youth it was said that what was too silly to be said may be sung. In modern economics it may be put into mathematics.
Ronald Coase, The firm, the market and the law (1988) Chapter 6. A remark on "The problem of social cost" (last sentence).
Economics
Economics is a subject that really relates to core aspects of human well-being, and there’s a methodology for thinking about these things. This was a very appealing combination to me. Market systems are capable of massive breakdowns that can result in long, devastating periods of high unemployment. And I felt that economists had really learned something about how to address that.
Janet Yellen, in "The Hand on the Lever" in The New Yorker (July 21, 2014) by Nicholas Lemann
Researchers are working on bioreactor systems that can remove recalcitrant pollutants from water, converting it into biomass for biodiesel production.
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