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Ecodynamics is a part of applied economics. It covers knowledge on monetary value, the usage of money, [1] and the money flow. [2] It deals with labor, and capital.
Economics is the social science that studies how people interact with value; in particular, the production, distribution, and consumption of goods and services.
In economics, factors of production, resources, or inputs are what is used in the production process to produce output—that is, finished goods and services. The utilized amounts of the various inputs determine the quantity of output according to the relationship called the production function. There are four basic resources or factors of production: land, labour, capital and entrepreneur. The factors are also frequently labeled "producer goods or services" to distinguish them from the goods or services purchased by consumers, which are frequently labeled "consumer goods".
In economics, Kondratiev waves are hypothesized cycle-like phenomena in the modern world economy. The phenomenon is closely connected with Technology life cycle.
Macroeconomics is a branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole. For example, using interest rates, taxes and government spending to regulate an economy’s growth and stability. This includes regional, national, and global economies.
Post-Keynesian economics is a school of economic thought with its origins in The General Theory of John Maynard Keynes, with subsequent development influenced to a large degree by Michał Kalecki, Joan Robinson, Nicholas Kaldor, Sidney Weintraub, Paul Davidson, Piero Sraffa and Jan Kregel. Historian Robert Skidelsky argues that the post-Keynesian school has remained closest to the spirit of Keynes' original work. It is a heterodox approach to economics.
Ecological economics, bioeconomics, ecolonomy, eco-economics, or ecol-econ is both a transdisciplinary and an interdisciplinary field of academic research addressing the interdependence and coevolution of human economies and natural ecosystems, both intertemporally and spatially. By treating the economy as a subsystem of Earth's larger ecosystem, and by emphasizing the preservation of natural capital, the field of ecological economics is differentiated from environmental economics, which is the mainstream economic analysis of the environment. One survey of German economists found that ecological and environmental economics are different schools of economic thought, with ecological economists emphasizing strong sustainability and rejecting the proposition that physical (human-made) capital can substitute for natural capital.
Non-equilibrium thermodynamics is a branch of thermodynamics that deals with physical systems that are not in thermodynamic equilibrium but can be described in terms of variables that represent an extrapolation of the variables used to specify the system in thermodynamic equilibrium. Non-equilibrium thermodynamics is concerned with transport processes and with the rates of chemical reactions. It relies on what may be thought of as more or less nearness to thermodynamic equilibrium.
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. Societies are divided into three groups: social, cultural and economic. It also refers to the ways that social and economic factors influence the economy .
Econophysics is a heterodox interdisciplinary research field, applying theories and methods originally developed by physicists in order to solve problems in economics, usually those including uncertainty or stochastic processes and nonlinear dynamics. Some of its application to the study of financial markets has also been termed statistical finance referring to its roots in statistical physics. Econophysics is closely related to social physics.
International finance is the branch of financial economics broadly concerned with monetary and macroeconomic interrelations between two or more countries. International finance examines the dynamics of the global financial system, international monetary systems, balance of payments, exchange rates, foreign direct investment, and how these topics relate to international trade.
George Selgin is a Senior Fellow and Director of the Cato Institute's Center for Monetary and Financial Alternatives, where he is editor-in-chief of the center's blog, Alt-M, Professor Emeritus of economics at the Terry College of Business at the University of Georgia, and an associate editor of Econ Journal Watch. Selgin formerly taught at George Mason University, the University of Hong Kong, and West Virginia University.
Jacob Marschak was an American economist.
Modern Monetary Theory or Modern Money Theory (MMT) is a heterodox macroeconomic theory that describes currency as a public monopoly and unemployment as evidence that a currency monopolist is overly restricting the supply of the financial assets needed to pay taxes and satisfy savings desires. MMT is opposed to mainstream understanding of macroeconomic theory, and has been criticized by many mainstream economists.
Thermoeconomics, also referred to as biophysical economics, is a school of heterodox economics that applies the laws of statistical mechanics to economic theory. Thermoeconomics can be thought of as the statistical physics of economic value and is a subfield of econophysics.
Tessaleno Campos Devezas is a Brazilian-born Portuguese physicist, systems theorist, and materials scientist. He is best known for his contributions to the long waves theory in socioeconomic development, technological evolution, energy systems as well as world system analysis.
Consensus dynamics or agreement dynamics is an area of research lying at the intersection of systems theory and graph theory. A major topic of investigation is the agreement or consensus problem in multi-agent systems that concerns processes by which a collection of interacting agents achieve a common goal. Networks of agents that exchange information to reach consensus include: physiological systems, gene networks, large-scale energy systems and fleets of vehicles on land, in the air or in space. The agreement protocol or consensus protocol is an unforced dynamical system that is governed by the interconnection topology and the initial condition for each agent. Other problems are the rendezvous problem, synchronization, flocking, formation control. One solution paradigm is distributed constraint reasoning.
Econodynamics is an empirical science that studies emergences, motion and disappearance of value—a specific concept that is used for description of the processes of creation and distribution of wealth. Econodynamics is based on the achievements of classical political economy and neo-classical economics and has been using the methods of phenomenological science to investigate evolution of economic system. Econodynamics has been proposing methods of analysis and forecasting of economic processes. The comprehensive review of the problems of econodynamics is given recently by Vladimir Pokrovskii.
Morris Albert Copeland was a US economist who criticized 20th-century macroeconomic theory, and who contributed to the development of modern flow of funds theory.
Willi Semmler is a German born American economist who currently teaches at The New School in New York.
Growth imperative is a term in economic theory regarding a possible necessity of economic growth. On the micro level, it describes mechanisms that force firms or consumers (households) to increase revenues or consumption to not endanger their income. On the macro level, a political growth imperative exists if economic growth is necessary to avoid economic and social instability or to retain democratic legitimacy, so that other political goals such as climate change mitigation or a reduction of inequality are subordinated to growth policies.
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