Economics is the branch of social science that stuies the production, distribution, and consumption of goods and services. The term economics comes from the Greek for oikos (house) and nomos (custom or law), hence "rules of the house(hold)."

Trivia about economics

  • It's the only Nobel category in which the prize has not been awarded to a woman
  • For her work on the management of common property, Elinor Ostrom is the first woman to win the Nobel Prize for this
  • John Kenneth Galbraith is the Paul M. Warburg professor emeritus of this at Harvard
  • Robert Engle & Clive Granger earned this prize for their new statistical models for financial data
  • The "Ec" in Home Ec is short for this
  • Washington State offers majors in both this social science & the "home" version
  • Category for which James Tobin, Gary Becker & Milton Friedman all won Nobel Prizes
  • Among the main historical schools of this field are mercantilism & Keynesianism
  • Ben Bernanke earned his Ph.D. in this from MIT
  • The Nobel prize in this category was awarded for the first time & was won by a Norwegian & a Dutchman
  • Milton Friedman,1976
  • At the bottom of this discipline's medal, you can see crossed horns of plenty
  • Gerard Debreu won this prize in 1983 for his mathematical model proving the law of supply & demand
  • From Greek for "steward", it's been defined as "the dismal science"
  • Seen here, Robert J. Aumann shared the 2005 Nobel Prize in this for his work based on game theory
  • In 1969 university professors Ragnar Frisch & Jan Tinbergen shared the first Nobel Prize for this
  • The Development Studies Institute is part of the London School of this
  • In 1996, just days after being named a Nobel Prize winner in this category, William Vickrey passed away
  • Paul Krugman wrote "The Return of Depression" this, also the field in which he won a Nobel Prize
  • George Akerlof shared the 2001 Nobel Prize in this for his analysis of markets with asymmetric information
  • Paul Samuelson
  • In 1969 Ragnar Frisch & Jan Tinbergen became the first to win in this newly established category
  • At Harvard, Introduction to Game Theory is a course on this