√ Economics: Definition and its Division (Complete)
Economics: Understanding and its Division (Complete) - On this occasion About Knowledgewill discuss about Economics. Which in this discussion explains the meaning of economics and its division briefly and clearly. For more details, see the following article on economics.
Economics: Understanding and its Division (Complete)
In meeting the needs and fulfillment of our ongoing life, of course, we must try to earn income with effort and hard work. By calculating the acquisition for primary and secondary needs, of course, it must be maximal in determining the economy.
Of course we must know in advance, what is economics? and the distribution. Materials on Economics are usually studied at the elementary to tertiary levels, which are included in the curriculum.
Definition of Economics
According to Adam Smith, the definition of economics is the study of human behavior in generally when managing resources, both limited and not so that they can lead to inner goals his life.
Meanwhile, according to Karl Marx, the definition of economics is one of the sciences explaining how humans survive live in a social class structure with established relationships in utilizing the means for activity production.
Judging from the explanation above, it can be concluded that economics is one of the sciences that study human behavior that has the goal of obtaining and managing resources limited. At the same time in making an alternative service or goods to meet the unlimited needs of human life.
As is the case in managing finances, which must be smart in managing desires with limitations in income so that they can be fulfilled for fulfilling needs.
Division of Economics
In this case according to Alfred W. Stoiner and Douglas C. Hagues divides economics into 3 parts, namely:
Descriptive Economics (Descriptive Economics)
Descriptive Economics or better known as descriptive economics is a science that will provide a description of data that describes various realities and phenomena that occur.
In this section, we can do an analysis to describe the actual conditions or facts that occur in economic activity. In order to get a clear or valid picture or estimate, of course the data obtained regarding facts or facts must be arranged systematically.
For example in the monetary crisis that occurred in 1998 in Indonesia
Theoretical Economics (Theoretical Economics)
The next division of economics is Theoretical Economics or better known as Theoretical Economics is the science of economics that seeks to explain the understanding and causal relationships and how the system works economy. Theoretical economics is based on the results of observations on actions and reactions related to the economy in people's lives.
In economics theory develops and is divided into 2 parts, including:
Macroeconomics
Macroeconomics is the science of economics with a discussion of all economic activities. In the analysis of macroeconomics it is comprehensive or global and focuses on the economy as a whole.
The problems that exist in macroeconomics occur as a whole as well, for example:
- Stagnant growth, this can happen if product supply does not increase or even decreases;
- Interest rates, this can happen if an increase will cause an increase in interest expenses;
- Inflation, this can occur due to the continuous increase in prices;
- Unemployment, this can occur which indicates that the economy is not reaching its goal of absorbing the overall workforce.
Microeconomics
The theory that developed later was different from microeconomics where this science discussed the economy as a whole. Microeconomics is the science of economics that studies economic activities in a special or small scope.
In this case, microeconomics can occur because there are special problems, for example:
- Long distribution channels, this can result in high prices of goods when they reach consumers;
- Monopolistic practices, which narrow business opportunities thereby eliminating the entrepreneurial spirit of society;
- Increase in fuel prices, which can lead to a decrease in income for entrepreneurs and drivers;
- Base price and highest price, which need to be determined if there is no balance between supply and demand in the market.
Applied Economics (Applied Economics)
Applied Economics or applied economics is the practical use of economics by individuals in adopting standards, goals, guidelines or policies to address economic problems certain.
Such as the economy that takes place in the banking economy, companies, monetary economy and so on.
Thus the explanation about Economics: Understanding and its Division (Complete), hopefully it can be useful.
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