Economics

Employment
Service performed for pay or wages under a contract of hire
Endogenous Business Cycle
A model of business cycles where fluctuations arise from internal factors, specifically random shocks to economic agents' beliefs.
Engel Curve
A detailed examination of the Engel Curve and its implications in economic theory
Engel Curve
A curve showing the relation between income level and consumption of some good, at a given price.
Entitlement Program
Detailed analysis and understanding of the term 'Entitlement Program' in economics.
Entitlements
A comprehensive dictionary entry on the economic concept of entitlements.
Entrepôt
A place where goods are imported and re-exported without processing.
Entrepreneur
A person with overall responsibility for decision-taking in a business, who receives any profits, and bears any losses.
Envelope Curve
The outer envelope of a set of curves in economics, often used in the context of long-run and short-run cost functions.
Envelope Theorem
A definition and analysis of the Envelope Theorem in economics and its implications in optimization problems.
Equilibrium
An analysis of equilibrium concepts, their significance, and applications in various economic theories.
Equilibrium Price
Equilibrium price refers to the price at which the quantity of a good supplied is equal to the quantity demanded.
Equilibrium Quantity
The quantity of a good supplied and demanded when the market price has reached a level where supply equals demand.
Equity Capital
Definition and meaning of equity capital in finance: Company finance raised in exchange for a share of ownership.
Equivalent Variation
The amount of additional income required to reach the utility level achievable if the economic environment changes.
Error Correction Model
A model used for estimating the short-run dynamic relationship among cointegrated variables and their adjustments towards long-term equilibrium.
Estimate
Definition and meaning of the term 'estimate' in econometrics.
Euro - The Single European Currency
An overview of the Euro, its adoption, historical context, and significance within the European Monetary Union.
Eurocurrency
A comprehensive definition and analysis of eurocurrency, its historical context, major analytical frameworks, and case studies.
euroland - Definition and Meaning
A slightly derogatory term for the geographical area consisting of the countries that have adopted the euro. The more formal term is eurozone.
European Bank for Reconstruction and Development (EBRD)
An international bank established to aid the transition of Central and Eastern Europe and former Soviet states to market economies.
European Coal and Steel Community
A European body established in 1952 to create a common market for coal and steel among its member states.
European Free Trade Association
An association of European countries established in 1959 to promote free trade among its member states.
Eurozone
Countries that have abolished their national currencies and adopted the euro.
Evolutionary Theory of the Firm
A theory outlining the adaptive behavior and survival of firms through an evolutionary process, focusing on innovation and natural selection.
Ex Ante - Definition and Meaning
An overview of the term 'ex ante,' its definitions, and implications in economic analysis.
Excess Burden
Definition and explanation of excess burden in economics, synonymous with deadweight loss.
Excess Demand - Definition and Meaning
A detailed exploration into the concept of excess demand, its implications for economic equilibrium, and notable theoretical contributions.
Excess Profit
An examination of the term 'excess profit,' which refers to profits above the level necessary to retain an entrepreneur in their current business.
Exchange
Understanding the concept of exchange in economics and its implications.
Exchange Control
A system regulating the conversion of national currency into foreign currencies subject to official permission or approval.
Exchange Equalization Account
A UK government account at the Bank of England for managing gold and foreign exchange reserves and IMF special drawing rights.
Exchange Rate Overshooting
An exploration of the term 'exchange rate overshooting,' its meaning, historical context, and analytical frameworks in economic theory.
Excise Duty
A comprehensive overview of excise duty, including its definition, historical context, and analytical frameworks.
Exit
Understanding the term 'exit' in economics, particularly in the context of firm dynamics within an industry.
Exit Price
Exploration of the concept of exit price in economics, referring to the price below which firms are likely to leave an industry.
Exogenous Expectations
Expectations that are formed outside the economic system and are not based on its parameters.
Exogenous Variable
A variable not related to other economic variables in the system under consideration by causal links but determined by factors outside the system.
Expectations - Definition and Meaning
An exploration of the role of expectations in economics, including various types and their impact on economic decision-making
Expected Inflation
The anticipated rate of inflation projected by individuals or institutions for different future time periods.
Expected Utility
A measure used in economics to denote the anticipated value of an uncertain situation in relation to wealth.
Expected Utility
A measure used in economics to denote the anticipated value of an uncertain situation in relation to wealth.
Expected Value
Expected value is the probability-weighted average outcome of a random variable.
Expenditure
Spending by consumers, investors, or the government on real goods, services, and various transfers.
Expenditure and Food Survey
A comprehensive survey of household expenditure and food consumption in the UK, operational from 2001 to 2008.
Expenditure Function
Explanation of the expenditure function in economics, its applications, and related concepts.
Expenditure Method
Method of calculating domestic product using expenditure data from various economic sectors.
Expenditure-Based Deflator
An economics term describing a price index reflecting expenditure shares of different goods and services, including import prices and excluding export prices.
Exponential Distribution
A comprehensive overview of the exponential distribution, its properties, and applications in economics
Export Concentration
An overview of the concept of export concentration, its definition, implications, and analytical frameworks.
Export Credit Agency
An institution that provides credit or guarantees to support export transactions, often involving state subsidies.
Export Subsidy
An exploration of export subsidies in economics, including their definition, historical context, and implications on international trade.
Export–Import Bank
An agency of the US federal government set up to promote US trade by providing finance, guarantees, or insurance for private loans.
Exportables
Goods and services of types which could be exported, whether they are in fact exported or not.
Exports
Goods and services produced in a country and sold to non-residents. Comprises visible and invisible exports, as well as capital exports.
Extensive Margin
The margin affected by a discrete change in the level at which an activity is undertaken.
external economies of scale
An exploration of external economies of scale, where industry growth reduces production costs across all firms.
externality
A comprehensive overview of the economic concept of externality, including its types and implications.
Factor Cost
An analysis of the term 'factor cost,' its definition, significance, and associated economic frameworks.
Factor Endowment
A solid conceptual analysis of factor endowment in economic theory, discussing its implications for economic prosperity.
Factor Mobility
The degree of ease with which productive factors can reallocate across sectors within an economy or across countries.
Factor Prices
An examination of factor prices in economics, which include wages, rent, and interest rates, corresponding to the services provided by labor, land, and capital respectively.
Factor-Augmenting Technical Progress
An in-depth look at the concept of factor-augmenting technical progress in economics, exploring its definition, historical context, and various analytical frameworks.
Factors of Production
A comprehensive look into the resources used in the production of goods and services, encompassing labor, capital, and land.
Fair Gamble
A comprehensive look into the definition and significance of fair gambles in economics.
Fair Odds
The odds which would leave anybody betting on a random event with zero expected gain or loss.
Fair Rate of Return
Adequate level of profit judged by regulators for utilities to ensure acceptable service, dividends, interest payments, and investment.
Fair Trade - Definition and Meaning
Exploring the concept and implications of fair trade economics, its historical context, associated frameworks, and its comparative impact.
Family Allowance
An overview of the family allowance, a UK welfare benefit offered between 1946 to 1977, which was renamed to child benefit.
Fan Chart
A visual representation where the past shows actual values and the future presents a range of forecast values, illustrating the uncertainty in economic forecasts.
Federal Reserve System
An overview of the Federal Reserve System, the central banking system of the United States.
Fiat Money - Definition and Meaning
Fiat money: A form of currency that holds value primarily because a government decrees it to be legal tender, without intrinsic or commodity value.
Field Experiment
An experiment conducted in a ‘real world’ setting rather than a laboratory, where subjects make decisions in their natural environment.
Final Goods
Goods for use by final users, including consumers, investors, the government, and exporters, as distinct from intermediate products.
Financial Assets
Money and claims separate from physical assets, encompassing money, securities, shares, derivatives, and more.
Financial Crisis
The collapse, or potential collapse, of a financial institution threatening the stability of the financial system.
Financial Economics
The field of economics that analyses the individual allocation of resources between consumption and financial assets, and the equilibrium consequences of individual choices.
Financial Repression
The imposition of liquidity constraints through allocation of loans by administrative means rather than use of the market.
Financial Sector
The part of the economy concerned with lending and borrowing, including banks, non-bank financial intermediaries, and financial service providers.
Financial Security
Definition and detailed exploration of the term financial security in the context of Economics
Financial Soundness Indicators
Financial Soundness Indicators: Statistical measures for assessing financial system stability
Financial Times Industrial Ordinary Share Index
The Financial Times Industrial Ordinary Share Index (FT 30) is an index tracking the share prices of 30 leading UK industrial and commercial companies listed on the London Stock Exchange, excluding banking and insurance shares as well as government stocks. It originated with a base of 100 in 1935.
Financial Year
An insight into the financial year, its definitions, contexts, and implications in economics.
finite sample distribution
A distribution of a statistic across all possible samples of the same size drawn from the same population according to the same sampling procedure.
Firm
The basic unit of organization for productive activities, guiding the transformation of inputs into outputs.
First-Degree Price Discrimination
An overview of first-degree price discrimination, its definitions, concepts, and effects in economic contexts.