Lakhasly

???????"Why Do People Dislike Inflation?"An example of a macroeconomic index is GDP(PIB) gross domestic product; the total value of all the goods and services produced by a country in one year, except for income received from money invested in other countries.4 & Micro-Economic Approach It mainly appeared during the Marginalist revolution, therefore in the second half of the 19th century.It is the science of choices, or the science of decisions within a framework of rarity.2 Definition of Economics The economy comes from the Latin oikonomia which means the administration of the home domestic or home activity.Then it becomes political, moving from the family framework to the national framework as illustrated in the work of Antoinede Montchrestien, Treatise on Political Economy, published in 1615.Approaches in economics & Macro-Economic Approach Macroeconomics studies the main variables (it examines the economy as a whole together) trying to understand the relationships between the different aggregates that are income, employment, investment and savings.MODULE TITLE : GENERAL ECONOMY 1st Year - 1st Preparatory Cycle Academic Year: 2023/2024 Course duration: 90 min CHAPTER 1: What is economics?The economy is captured in its entirety.???????????????????- ??????2015.

المدرسة العليا لإدارة الاعمال – تلمسان
MODULE TITLE : GENERAL ECONOMY
1st Year – 1st Preparatory Cycle Academic Year: 2023/2024 Course duration: 90 min
CHAPTER 1: What is economics?
Introduction
Economics is the science of managing scarce resources. It studies the forms that
human behavior takes in the development of these resources, it analyzes and
explains the modalities according to which an individual or a society allocates
limited means to the satisfaction of unlimited needs.
However, economics is a particular way of studying the behavior of people. It is
the science of choices, or the science of decisions within a framework of rarity.2
Definition of Economics
The economy comes from the Latin oikonomia which means the administration
of the home domestic or home activity.Then it becomes political, moving from
the family framework to the national framework as illustrated in the work of
Antoinede Montchrestien, Treatise on Political Economy, published in 1615.
However, if economics is a human science, it is appropriate necessary to ask
what distinguishes it from other human sciences.
Every science gives itself has a precise object of study that it tries to analyze. If
political science favors the study of power, science
economics focuses on scarcity.
Economics is a particular way of studying human behavior, individuals have
unlimited needs, but the resources available to them to satisfy them do not exist
only in limited quantities (phenomenon of rarity). Economics is therefore the
science of choices, or the science of decisions.3
However, according to Malinvaud, economics is the science that studies how
scarce resources are employed for the satisfaction of the needs of men living in
society.
Mankiw defines economics as the study of how society manages
its scarce resources.
Smith describes economics as the society that deals with the means that make
the wealth of nations.
Therefore, there are multiple definitions to economics science which formalizes
the functioning of economic activity and economic behavior.
Approaches in economics
& Macro-Economic Approach
Macroeconomics studies the main variables (it examines the economy as a
whole together) trying to understand the relationships between the different
aggregates that are income, employment, investment and savings.
One of the great pioneers of macroeconomics is J.M. Keynes.
The economy is captured in its entirety. We are interested in a group, in the
globality. An example of a macroeconomic index is GDP(PIB) gross domestic
product; the total value of all the goods and services produced by a country in
one year, except for income received from money invested in other countries.4
& Micro-Economic Approach
It mainly appeared during the Marginalist revolution, therefore in the second
half of the 19th century. Microeconomics studying individual behavior in
particular those of consumers, producers or holders of Resources. Indeed, the
analysis is based on the study of individual behavior of economic agents.
& Human needs are unlimited
Economic need will be is defined as a lack that can be satisfied by the
acquisition or consumption of goods and services, knowing that these same
goods and services are produced in limited quantities.
Economic models
Economics uses models, the last one used was to make operational forecasts
prevision on economic phenomena that will become be established in the future.
& Ceteris Paribus: this is the basic axiom
(demonstration) according to which nothing changes outside of what we study.
& Descriptive (or positive) Economics: its aim
is to study what is (the present). Models are used to establish theories, laws and
principles that can describe relationships between various economic agents,
often these relationshipsare stated in mathematical terms and using graphics.5
& Normative (or political) Economic Sciences:
these types of models are used to make forecasts.
Integration of mathematics into economics
When we talk about economic science we often talk about economics
integrating mathematics.
This use of mathematics mainly appeared with the neoclassical and the
marginalist revolution, which was put into place practice by three people
fundamentals K. Menger, S. Jevons and L. Walres.
Conclusion
Economics is a relatively young discipline which was born in the Middle Ages
and developed vigorously from during the 18th century. It is a science that
answers a practical need, that of properly organizing human societies.
Indeed, economic science was born from the confrontation between the
unlimited needs experienced by human beings and the limited amount of goods
available to satisfy fit those needs.
This science therefore focuses initially on describing, measuring,
understanding the choices made by economic agents. In a second time,
Moreover, it seeks to build laws and models that can be used to guide political
action.6
Reference:
& Bureau of Labor Statistics, U.S. Department of Labor. 2015. "The
Employment Situation—February 2015." Accessed March 27, 2015.
http://www.bls.gov/news.release/pdf/empsit.pdf.
& Shiller, Robert. “Why Do People Dislike Inflation?” NBER Working Paper
Series, National Bureau of Economic Research, p. 52. 1996.
& Keynes, John Maynard. The General Theory of Employment, Interest and
Money. London: Palgrave Macmillan, 1936.
& Todaro, Michael P., and Stephen C Smith. Economic Development
(11thEdition). Boston, MA: Addison-Wesley: Pearson, 2011, chap. 1–2