Economics/Glossary: Difference between revisions

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==O==
==O==
{{r|Okun curve}}
{{r|Output gap}}
{{r|Output gap}}


Revision as of 03:38, 23 August 2010

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https://en.citizendium.org/wiki/index.php?title=Economics/Glossary&printable=yes
Glossary of terms related to Economics.


The finance glossary and the banking glossary define some specialised terms that are not included in this glossary

A

  • Adverse selection [r]: a partial market failure that occurs when there are traders who take advantage of asymmetric information, raising uncertainty and leading to a reduction in the value of its products. [e]
  • Agency cost [r]: Add brief definition or description
  • Applied statistics [r]: the practice of collecting and interpreting numerical observations for the purpose of generating information. [e]
  • Arbitrage [r]: transactions to take advantage of a price differences of a product in different markets by buying where it is cheap and selling where it is dear. The possibility of arbitrage often prevents the occurrence of price differences. [e]
  • Asset price bubble [r]: The condition of an asset market in which price is governed by speculators' expectations that it will increase. [e]
  • Asymmetric information [r]: a situation in which a seller has information that is not available to potential buyers - or vice-versa. [e]
  • Austrian School of economics [r]: A school of economists who reject the tenets of macroeconomics and oppose the practice of collective economic management; and whose methodology concentrates upon the decisions of individuals and the operation of the market mechanism. [e]
  • Automatic stabilisers [r]: the tendency in times of falling economic activity for the government spending to rise, and for tax receipts to fall - and the reverse tendency in times of rising economic activity [e]

B

  • Base money [r]: currency in circulation plus bank vault cash plus deposits held by banks at the central bank (termed "high-powered money" in the US, and referred to as M0 in the UK). [e]
  • Basis point [r]: (bp) one hundredth of a percentage point . [e]
  • Beveridge curve [r]: A curve (convex when viewed from the origin) showing a relationship between vacancies and unemployment. [e]
  • Broad money [r]: cash, current account deposits in banks and other financial institutions, savings deposits and time-restricted deposits (see also high-powered money). [e]
  • Bubble (economics) [r]: A surge in prices that raises expectations of further increases, so generating further increases: a process that continues until confidence falters, the bubble "bursts" and prices rapidly revert to an objectively-based level. [e]
  • Budget balance [r]: the difference between a central government's revenue and its expenditure in a given financial year. Conventions differ concerning the items that are included, and various cyclical adjustments can be made to identify its discretionary element.. [e]
  • Budget deficit [r]: the excess of a government's expenditures over its receipts. See also cyclically-adjusted budget deficit [e]

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C

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D

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E

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F

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G

H

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I

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J,K,L

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M

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N

O

P,Q

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R

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S

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T,U,V,W,X,Y,Z

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