Economics

Economics (definition)
The original definition of "economics" meaning "household management and agriculture", from a 362BC book Xenophon, student Socrates; the modern meaning, supposedly, is the basic model, albeit scaled up to the city-state and or country level.
In science, economics is the study of they wealth as what is produced by humans in order to maintain their existences. [1]

Overview
The term "economics"
means “household management and agriculture”, deriving from the title of a 362BC book by that name by Xenophon, student of Socrates, becoming in 1792 synonymous with the “science of wealth”, some of which molded historically into the physiocracy ideas of Francois Quesnay.

The founders of "classical economics", according to Wassily Leontief (1982), are: Adam Smith, David Ricardo, Thomas Malthus, and John Mill.

The founders of "neoclassical economics" are: Leon Walrus and Vilfredo Pareto and their "general equilibrium theory", which, in the 1980s, according to Leontief, constituted the "core of undergraduate and graduate instruction" in America. [3]

Thermodynamics
The study of economics, in thermodynamics, is called "economic thermodynamics" or in some cases thermoeconomics.


Econophysics
See main: Econophysics
The use of physics in economics is called econophysics.

See also
Greatest economist ever

Quotes
The following are related quotes:

Laplace is reputed to have said: ‘give me the equations of motion and I will show you the future of the universe’. Likewise, economists studying the evolution of a large general equilibrium system ask only for the equation of motion in order to bring their work to completion.”
— Edwin Burmeister and Rodney Dobell (1970), Mathematical Theories of Economic Growth [2]

References
1. Soddy, Frederick. (1926). Virtual Wealth and Debt - the Solution of the Economic Paradox (pgs. 70-73). London: George Allen & Unwin LTD.
2. (a) Burmeister, Edwin and Dobell, A. Rodney. (1970). Mathematical Theories of Economic Growth (pg. 1). MacMillan.
(b) Hsieh, Ching-Yao, and Ye, Meng-Hua. (1991). Economics, Philosophy, and Physics (pg. 8). M.E. Sharpe.
3. Leontief, Wassily. (1982). “Academic Economics” (abs), Science, 217:104-107.

External links
Economics – Wikipedia.

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