Economics is a social science that studies the production, distribution, and consumption of goods and services.
In general, a rural area or a countryside is a geographic area that is located outside towns and cities. Typical rural areas have a low population density and small settlements. Agricultural areas and areas with forestry are typically described as rural, as well as other areas lacking substantial development. Different countries have varying definitions of rural for statistical and administrative purposes.
Subsistence agriculture occurs when farmers grow crops to meet the needs of themselves and their families on smallholdings. Subsistence agriculturalists target farm output for survival and for mostly local requirements. Planting decisions occur principally with an eye toward what the family will need during the coming year, and only secondarily toward market prices. Tony Waters, a professor of sociology, defines "subsistence peasants" as "people who grow what they eat, build their own houses, and live without regularly making purchases in the marketplace".
Urban economics is broadly the economic study of urban areas; as such, it involves using the tools of economics to analyze urban issues such as crime, education, public transit, housing, and local government finance. More specifically, it is a branch of microeconomics that studies the urban spatial structure and the location of households and firms.
Socioeconomics is the social science that studies how economic activity affects and is shaped by social processes. In general it analyzes how modern societies progress, stagnate, or regress because of their local or regional economy, or the global economy.
Agricultural economics is an applied field of economics concerned with the application of economic theory in optimizing the production and distribution of food and fiber products. Agricultural economics began as a branch of economics that specifically dealt with land usage. It focused on maximizing the crop yield while maintaining a good soil ecosystem. Throughout the 20th century the discipline expanded and the current scope of the discipline is much broader. Agricultural economics today includes a variety of applied areas, having considerable overlap with conventional economics. Agricultural economists have made substantial contributions to research in economics, econometrics, development economics, and environmental economics. Agricultural economics influences food policy, agricultural policy, and environmental policy.
Articles in economics journals are usually classified according to JEL classification codes, which derive from the Journal of Economic Literature. The JEL is published quarterly by the American Economic Association (AEA) and contains survey articles and information on recently published books and dissertations. The AEA maintains EconLit, a searchable data base of citations for articles, books, reviews, dissertations, and working papers classified by JEL codes for the years from 1969. A recent addition to EconLit is indexing of economics journal articles from 1886 to 1968 parallel to the print series Index of Economic Articles.
Rural development is the process of improving the quality of life and economic well-being of people living in rural areas, often relatively isolated and sparsely populated areas. Often, rural regions have experienced rural poverty, poverty greater than urban or suburban economic regions due to lack of access to economic activities, and lack of investments in key infrastructure such as education.
In economics, distribution is the way total output, income, or wealth is distributed among individuals or among the factors of production. In general theory and in for example the U.S. National Income and Product Accounts, each unit of output corresponds to a unit of income. One use of national accounts is for classifying factor incomes and measuring their respective shares, as in national Income. But, where focus is on income of persons or households, adjustments to the national accounts or other data sources are frequently used. Here, interest is often on the fraction of income going to the top x percent of households, the next x percent, and so forth, and on the factors that might affect them.
Spatial inequality refers to the unequal distribution of income and resources across geographical regions. Attributable to local differences in infrastructure, geographical features and economies of agglomeration, such inequality remains central to public policy discussions regarding economic inequality more broadly.
Michael Paul Todaro is an American economist and a pioneer in the field of development economics.
In China today, poverty refers mainly to the rural poor. Decades of economic development has reduced urban extreme poverty. According to the World Bank, more than 850 million Chinese people have been lifted out of extreme poverty; China's poverty rate fell from 88 percent in 1981 to 0.7 percent in 2015, as measured by the percentage of people living on the equivalent of US$1.90 or less per day in 2011 purchasing price parity terms, which still stands in 2022.
Rural poverty refers to situations where people living in non-urban regions are in a state or condition of lacking the financial resources and essentials for living. It takes account of factors of rural society, rural economy, and political systems that give rise to the marginalization and economic disadvantage found there. Rural areas, because of their small, spread-out populations, typically have less well maintained infrastructure and a harder time accessing markets, which tend to be concentrated in population centers.
The causes of poverty may vary with respect to nation, region, and in comparison with other countries at the global level. Yet, there is a commonality amongst these causes. Philosophical perspectives, and especially historical perspectives, including some factors at a micro and macro level can be considered in understanding these causes.
Erik Thorbecke is a development economist. He is a co-originator of the widely used Foster-Greer-Thorbecke poverty measure and played a significant role in the development and popularization of Social Accounting Matrix. Currently, he is H. E. Babcock Professor of Economics, Emeritus, and Graduate School Professor at Cornell University.
Peasant economics is an area of economics in which a wide variety of economic approaches ranging from the neoclassical to the marxist are used to examine the political economy of the peasantry. The defining feature of the peasants are that they are typically seen to be only partly integrated into the market economy -— an economy which, in societies with a significant peasant population, is typically found to have many imperfect, incomplete or missing markets. Peasant economics treats peasants as something different from other farmers as they are not assumed to be simply small profit maximizing farmers; by contrast, peasant economics covers a wide range of different theories of peasant household behavior. These include various assumptions about the maximization of profits, risk aversion, drudgery aversion, and sharecropping. The assumptions, logic, and predictions of these theories are examined and the impact of subsistence is typically found to have important implications in terms of producers decisions about supply, consumption and price. Chayanov was an early proponent of the importance of understanding peasant behaviour arguing that peasants would work as hard as they needed in order to meet their subsistence needs, but had no incentive beyond those needs and therefore would slow and stop working once they were met. This principle, the consumption-labour-balance principle, implies that the peasant household will increase its work until it meets (balances) the needs (consumption) of the household. A possible implication of this view of peasant societies is that they will not develop without some external, added factor. Peasant economics has been seen as being an important area of study by some development economists, agricultural sociologists, and anthropologists.
Barbara Harriss-White is an English economist and emeritus professor of development studies. She was trained in geography, agricultural science, agricultural economics and self-taught in development economics. In the 1990s, she helped to create the multi- and inter- disciplinary thematic discipline of development studies in Oxford Department of International Development; and in 2005-7 founded Oxford's Contemporary South Asia Programme. She has developed an approach to the understanding of Indian rural development and its informal economy, grounded in political economy and decades of what the economic anthropologist Polly Hill called ‘field economics’.
Kenya is a upper-middle income economy as of 2024, with kenya's GDP 2024 hitting [[204.6B $]]. This is Due to increasing technology innovation Services. Although Kenya's economy is the largest and most developed in eastern and Central Africa, 16.1% (2023/2024) of its population lives below the international poverty line. This severe poverty is mainly caused by economic inequality, government corruption and health problems. In turn, poverty also worsens these factors. The Kenyan government's efforts to address poverty have received help from international institutions as well. The incident rate of poverty has steadily decreased, as shown by a recent MPI index.
Zhu Ling is a Chinese economist who served as the deputy director and researcher in the Institute of Economics, Chinese Academy of Social Sciences (CASS), professor of graduate school and supervisor of doctorate student at Institute of Economics, CASS. She was elected a member of CASS in 2010. Previously, she was an executive member at International Association of Agricultural Economics (IAAE), Vice president of the Chinese Agricultural & Applied Economics Association, and had joined the research group of Millennium Development Goals of the United Nations.
Landlessness is the quality or state of being without land, without access to land, or without having private ownership of land. Although overlapping considerably, landlessness is not a necessary condition of poverty. In modern capitalist societies, individuals may not necessarily privately own land yet still possess the capital to obtain an excess of what is necessary to sustain themselves, such as wealthy individuals who rent expensive high-rise apartments in major urban centers. As such, landlessness may not exist as an immediate threat to their survival or quality of life. This minority of landless individuals as sometimes been referred to as the "landless rich." However, for the majority of landless people, including the urban poor and those displaced into conditions of rural-to-urban migration, their condition of landlessness is also one of impoverishment, being without the capital to meet their basic necessities nor the land to grow their own food, keep animals, or sustain themselves. During times of economic prosperity in modern capitalist societies, the liabilities of landlessness may not be noticeable, especially to the wealthy, but during times of economic failure and rising unemployment, the liabilities of landlessness become more visible.
