Many have agreed with Alfred Marshall, a leading 19th-century English economist, that economics is “a study of mankind in the ordinary business of life it examines that part of individual and social action which is most closely connected with the attainment, and with the use of the material requisites of wellbeing”-ignoring the fact that sociologists, psychologists, and anthropologists frequently study exactly the same phenomena. No one has ever succeeded in neatly defining the scope of economics. Supply responds to that demand, and in the United States alone some 400 institutions of higher learning grant about 900 new Ph.D.’s in economics each year. Indeed, this can be considered “the age of economists,” and the demand for their services seems insatiable. Still others are employed in accounting, commerce, marketing, and business administration although they are trained as economists, their occupational expertise falls within other fields. Many of the world’s economists devote their time to teaching economics in colleges and universities around the world, but most work in various research or advisory capacities, either for themselves (in economics consulting firms), in industry, or in government. Today there is hardly a government, international agency, or large commercial bank that does not have its own staff of economists. In the 19th century economics was the hobby of gentlemen of leisure and the vocation of a few academics economists wrote about economic policy but were rarely consulted by legislators before decisions were made. SpaceNext50 Britannica presents SpaceNext50, From the race to the Moon to space stewardship, we explore a wide range of subjects that feed our curiosity about space!Įconomics, social science that seeks to analyze and describe the production, distribution, and consumption of wealth.Learn about the major environmental problems facing our planet and what can be done about them! Saving Earth Britannica Presents Earth’s To-Do List for the 21st Century.Britannica Beyond We’ve created a new place where questions are at the center of learning.100 Women Britannica celebrates the centennial of the Nineteenth Amendment, highlighting suffragists and history-making politicians.COVID-19 Portal While this global health crisis continues to evolve, it can be useful to look to past pandemics to better understand how to respond today.Student Portal Britannica is the ultimate student resource for key school subjects like history, government, literature, and more.This Time in History In these videos, find out what happened this month (or any month!) in history.#WTFact Videos In #WTFact Britannica shares some of the most bizarre facts we can find.Demystified Videos In Demystified, Britannica has all the answers to your burning questions.Britannica Explains In these videos, Britannica explains a variety of topics and answers frequently asked questions.Britannica Classics Check out these retro videos from Encyclopedia Britannica’s archives.
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