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Economic history is the study of history using methodological tools from economics or with a special attention to economic phenomena. Research is conducted using a combination of historical methods, statistical methods and the application of economic theory to historical situations and institutions.
In financial economics, contingent claim analysis is widely used as a framework both for developing pricing models, and for extending the theory. [6] Thus, from its origins in option pricing and the valuation of corporate liabilities, [ 7 ] it has become a major approach to intertemporal equilibrium under uncertainty .
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
The earlier term for the discipline was "political economy", but since the late 19th century, it has commonly been called "economics". [22] The term is ultimately derived from Ancient Greek οἰκονομία (oikonomia) which is a term for the "way (nomos) to run a household (oikos)", or in other words the know-how of an οἰκονομικός (oikonomikos), or "household or homestead manager".
The United States Court of Claims: A History; Part II: Origin, Development, Jurisdiction, 1855–1978. Washington, D.C.: Committee on the Bicentennial of Independence and the Constitution of the Judicial Conference of the United States. Journals "The Constitutional Status of the Court of Claims". Harvard Law Review. 68 (3): 527– 535. January ...
James Stuart (1767) authored the first book in English with 'political economy' in its title, explaining it just as: . Economy in general [is] the art of providing for all the wants of a family, so the science of political economy seeks to secure a certain fund of subsistence for all the inhabitants, to obviate every circumstance which may render it precarious; to provide everything necessary ...
Judicial economy or procedural economy [1] [2] [3] is the principle that the limited resources of the legal system or a given court should be conserved by the refusal to decide one or more claims raised in a case. For example, the plaintiff may claim that the defendant's actions violated three distinct laws. Having found for the plaintiff for a ...
The Office of Economic Opportunity was created through the efforts of President Lyndon Johnson in his War on Poverty campaign, which aimed to tackle economic and racial inequality. In 1964, Johnson signed the Economic Opportunity Act, which was the legislative keystone that provided funding for the OEO as a new agency within the Office of the ...