History Of EconomicsHistory Of Economics
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History Of Economics

The study of economics from the historical point of view is a fascinating subject. To study that, several statistical methods and historical methods along with economical theories are applied to historical situations. The quantitative study of history of economics is called cliometrics.

It is said that to understand the present scenario of a subject, it is necessary to understand its origin, its past. This thing applies to the subject of economics too. This is where the importance of understanding the history of economics comes in. There is even a school of thought devoted to economic history. This school is dedicated to understanding and researching the evolution of the concept of economy, its development through the ages, all the major phenomena related to it. The European school devoted to this topic is called the European Historical Economics Society.

Several books have also been published dealing with this topic. “Historical Economics: Art or Science?” by Charles P. Kindleberger deserve a special mention here. This book generalizes all the major economic phenomena happened in the past and creates an association with those in the modern day.

Nobel Prize is introduced in for positive contributions to the field of Economics. Notable people winning this prize include Milton Friedman, Robert Fogel, Douglass North, and more recently (in 1990) Merton Miller, William Sharpe and Harry Markowitz among others.

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Theories Of Health Economics

Theories-Of-Health-Economics      Health economics deals with the allocation of the required resources for proper care of diseases, illnesses and sickness that is needed to be cured in order to promote, maintain as well as improve the general health of people. This responsibility is owned by the health sector which falls under the Department of Health. All these healthcare services possess their own corresponding costs as well as benefits among all individuals and the society groups. Basically there are 2 important variables that govern the overall health economics and they include demand and supply of the medical care. More..

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