Economic systemsAn economic system, or economic order, is a system of production, resource allocation and distribution of goods and services within a society. It includes the combination of the various institutions, agencies, entities, decision-making processes, and patterns of consumption that comprise the economic structure of a given community. An economic system is a type of social system. The mode of production is a related concept.
MarketsIn economics, a market is a composition of systems, institutions, procedures, social relations or infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services (including labour power) to buyers in exchange for money. It can be said that a market is the process by which the prices of goods and services are established. Markets facilitate trade and enable the distribution and allocation of resources in a society.
CompetitionCompetition is a rivalry where two or more parties strive for a common goal which cannot be shared: where one's gain is the other's loss (an example of which is a zero-sum game). Competition can arise between entities such as organisms, individuals, economic and social groups, etc. The rivalry can be over attainment of any exclusive goal, including recognition. Competition occurs in nature, between living organisms which co-exist in the same environment. Animals compete over water supplies, food, mates, and other biological resources.
Economic sectorsOne classical breakdown of economic activity distinguishes three sectors: Primary: involves the retrieval and production of raw-material commodities, such as corn, coal, wood or iron. Miners, farmers and fishermen are all workers in the primary sector. Secondary: involves the transformation of raw or intermediate materials into goods, as in steel into cars, or textiles into clothing. Builders and dressmakers work in the secondary sector. Tertiary: involves the supplying of services to consumers and businesses, such as babysitting, cinemas or banking.
Management accountingIn management accounting or managerial accounting, managers use accounting information in decision-making and to assist in the management and performance of their control functions. One simple definition of management accounting is the provision of financial and non-financial decision-making information to managers. In other words, management accounting helps the directors inside an organization to make decisions. This can also be known as Cost Accounting.
Investment managementInvestment management (sometimes referred to more generally as asset management) is the professional asset management of various securities, including shareholdings, bonds, and other assets, such as real estate, to meet specified investment goals for the benefit of investors. Investors may be institutions, such as insurance companies, pension funds, corporations, charities, educational establishments, or private investors, either directly via investment contracts/mandates or via collective investment schemes like mutual funds, exchange-traded funds, or REITs.
International developmentInternational development or global development is a broad concept denoting the idea that societies and countries have differing levels of economic or human development on an international scale. It is the basis for international classifications such as developed country, developing country and least developed country, and for a field of practice and research that in various ways engages with international development processes. There are, however, many schools of thought and conventions regarding which are the exact features constituting the "development" of a country.
Topics in macroeconomicsMacroeconomics is a branch of economics that deals with the performance, structure, behavior, and decision-making of an economy as a whole—for example, using interest rates, taxes, and government spending to regulate an economy's growth and stability. This includes regional, national, and global economies. Macroeconomists study topics such as GDP (Gross Domestic Product), unemployment (including unemployment rates), national income, price indices, output, consumption, inflation, saving, investment, energy, international trade, and international finance.
Development economicsDevelopment economics is a branch of economics which deals with economic aspects of the development process in low- and middle- income countries. Its focus is not only on methods of promoting economic development, economic growth and structural change but also on improving the potential for the mass of the population, for example, through health, education and workplace conditions, whether through public or private channels.
MarxismMarxism is a method of socioeconomic analysis that uses a materialist interpretation of historical development, better known as historical materialism, to understand class relations and social conflict and a dialectical perspective to view social transformation. It originates from the works of 19th-century German philosophers Karl Marx and Friedrich Engels. As Marxism has developed over time into various branches and schools of thought, no single, definitive Marxist theory exists.
Geography of North AmericaNorth America is the third largest continent, and is also a portion of the third largest supercontinent if North and South America are combined into the Americas and Africa, Europe, and Asia are considered to be part of one supercontinent called Afro-Eurasia. With an estimated population of 580 million and an area of 24,709,000 km2 (9,540,000 mi2), the northernmost of the two continents of the Western Hemisphere is bounded by the Pacific Ocean on the west; the Atlantic Ocean on the east; the Caribbean Sea on the south; and the Arctic Ocean on the north.
DemocracyDemocracy (from dēmokratía, dēmos 'people' and kratos 'rule') is a system of government and form of liberalism in which state power is vested in the people, or the general population of a state based on principles of liberty and free will. According to the United Nations, democracy "provides an environment that respects human rights and fundamental freedoms, and in which the freely expressed will of people is exercised." In a direct democracy, the people have the direct authority to deliberate and decide legislation.
Common lawIn law, common law (also known as judicial precedent, judge-made law, or case law) is the body of law created by judges and similar quasi-judicial tribunals by virtue of being stated in written opinions. The defining characteristic of common law is that it arises as precedent. Common law courts look to the past decisions of courts to synthesize the legal principles of past cases. Stare decisis, the principle that cases should be decided according to consistent principled rules so that similar facts will yield similar results, lies at the heart of all common law systems.
Positive psychologyPositive psychology is a branch of psychology that studies the conditions that contribute to the optimal functioning of people, groups, and institutions. It studies "positive subjective experience, positive individual traits, and positive institutions... it aims to improve quality of life." It is a field of study that has grown as individuals and researchers look for common ground on better well-being. Positive psychology began as a new domain of psychology in 1998 when Martin Seligman chose it as the theme for his term as president of the American Psychological Association.
Keynesian economicsKeynesian economics (ˈkeɪnziən ; sometimes Keynesianism, named after British economist John Maynard Keynes) are the various macroeconomic theories and models of how aggregate demand (total spending in the economy) strongly influences economic output and inflation. In the Keynesian view, aggregate demand does not necessarily equal the productive capacity of the economy. Instead, it is influenced by a host of factors – sometimes behaving erratically – affecting production, employment, and inflation.
Topics in architectural engineeringArchitectural engineering or architecture engineering, also known as building engineering, is an engineering discipline that deals with the engineering systems - such as structural, mechanical, electrical, lighting, environmental, climate control, telecommunications, security, and other technologies used in buildings. From reduction of greenhouse gas emissions to the construction of resilient buildings, architectural engineers are at the forefront of addressing several major challenges of the 21st century.
Industrial and organizational psychologyIndustrial and organizational psychology (I-O psychology) is the science of human behavior in the workplace and work-life interface. It is an applied discipline within psychology. Depending on the country or region of the world, I-O psychology is also known as occupational psychology in the United Kingdom, organisational psychology in Australia and New Zealand, and work and organizational (WO) psychology throughout Europe and Brazil. Industrial, work, and organizational (IWO) psychology is the broader, more global term for the science and profession.
Late modern periodIn many periodizations of human history, the late modern period followed the early modern period. It began approximately around the year 1800 and depending on the author, either ended with the beginning of contemporary history after World War II in 1945, or includes the contemporary history period up to the present day. Notable historical events in the late 18th century that marked the transition from the early modern period to the late modern period include – the American Revolution (1765–1791), the French Revolution (1789–1799), and the beginning of the Industrial Revolution around 1760.
Civil lawCivil law is a legal system originating in mainland Europe and adopted in much of the world. The civil law system is intellectualized within the framework of Roman law, and with core principles codified into a referable system, which serves as the primary source of law. The civil law system is often contrasted with the common law system, which originated in medieval England. Whereas the civil law takes the form of legal codes, the law in common law systems historically came from uncodified case law that arose as a result of judicial decisions, recognising prior court decisions as legally binding precedent.
Higher educationHigher education is tertiary education leading to the award of an academic degree. Higher education, which makes up a component of post-secondary, third-level, or tertiary education, is an optional final stage of formal learning that occurs after completion of secondary education. It represents levels 5, 6, 7, and 8 of the 2011 version of the International Standard Classification of Education structure. Tertiary education at a nondegree level is sometimes referred to as further education or continuing education as distinct from higher education.
