Economics student: Mamasoliyev Muhriddin

•Financial Economists study the money and banking system and the effects of rising interest rates.

•Public Finance Economists primarily are involved in studying the role of the government in the economy and the effects of tax cuts, budget deficits, and welfare policies.

•International Economists study international financial markets, exchange rates, and the effects of various trade policies such as tariffs.

• Labor Economists study the supply and demand for labor and the determination of wages. These economists also try to explain the reasons for unemployment, and the effects on labor markets of changing demographic trends such as an aging population and increasing immigration.
• •Econometricians are involved in all areas of economics and use mathematical techniques such as calculus, game theory, and regression analysis to formulate economic models. These models help to explain economic relationships and are used to develop forecasts related to the nature and length of business cycles, the effects of a specific rate of inflation on the economy, the effects of tax legislation on unemployment levels, and other economic phenomena. Many economists have applied these fundamental areas of economics to more narrow areas with specific applications such as health, education, agriculture, urban and regional economics, law, history, energy, and the environment.

History of economic thought

From antiquity through the physiocrats

Questions regarding distribution of resources are found throughout the writings of the Boeotian poet Hesiod and several economic historians have described Hesiod himself as the "first economist". However, the word Oikos, the Greek word from which the word economy derives, was used for issues regarding how to manage a household (Understood as the landowner, his family and his slaves.) rather than to refer to some normative societal system of distribution of resources, which is a much more recent phenomenon. Xenophon, the author of the Oeconomicus, is credited by philologues for being the source of the word economy. Other notable writers from Antiquity through to the Renaissance which wrote on include Aristotle, Chanakya (also known as Kautilya), Qin Shi Huang, Ibn Khaldun, and Thomas Aquinas. Joseph Schumpeter described 16th and 17th century scholastic writers, including Tomás de Mercado, Luis de Molina, and Juan de Lugo, as "coming nearer than any other group to being the 'founders' of scientific economics" as to monetary, interest, and value theory within a natural-law perspective.