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In the social sciences, economics is the study of human choice behavior and how it effects the production, distribution, and consumption of scarce resources. Economics studies how individuals and societies seek to satisfy needs and wants through incentives, choices, and allocation of scarce resources. Alfred Marshall in the late 19th century informally described economics as "the study of man in the ordinary business of life". The word "economics" is from the Greek words οἶκος [oikos], meaning "family, household, estate," and νόμος [nomos], or "custom, law."

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General information

Institutions and organizations

Study resources

  • KAM - Interactive database on the Knowledge Economy 2
  • History of Economic Thought Web site, with articles on historical schools, individual economists, and economic ideas. Free online classic economic literature. 2
  • Bized–A UK-based portal site for Economics and Business Studies designed mainly for UK students. 2
  • Ask The Professor section of EH.Net Economic History Services
  • Introduction to Economics basic economic thinking tools skimmed: rational self-interest, opportunity cost, marginal analysis, specialization, comparative advantage, scarce resources and unlimited wants, as well as a sketch of the institutional structure of the U.S. economy. 2



  • XLab - UC Berkeley Experimental Social Science Laboratory: Human Subject Research in Economics 2
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