Economic History Quiz

Research in economic history is conducted using a combination of historical methods, statistical methods, and the application of economic theory to historical situations and institutions.

Economic history can encompass a wide variety of topics, including equality, finance, technology, labour, and business.

Economic history emphasizes historicizing the economy itself, analyzing it as a dynamic entity, and attempting to provide insights into the way it is structured and conceived.

Economic historians often focus on the institutional dynamics of systems of production, labor, and capital, as well as the economy's impact on society, culture, and language.

Economic historians use both quantitative data and qualitative sources to understand the historical context in which major economic events take place.

The broad distinctions within economics include those between positive economics, describing 'what is', and normative economics, advocating 'what ought to be'; between economic theory and applied economics; between rational and behavioral economics.

Microeconomics analyzes individual agents and markets, their interactions, and the outcomes of interactions.

Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it.

Individual agents may include households, firms, buyers, and sellers.

Economics focuses on the production, distribution, and consumption of goods and services, as well as the behavior and interactions of economic agents and how economies work.