Social Economics

Economics is a social science that seeks to analyze and describe the production, distribution, and consumption of wealth. The word "economics" is from the Greek οἶκος [oikos], "family, household, estate," and νόμος [nomos], "custom, law," and hence means "household management" or "management of the state." An economist is a person using economic concepts and data in the course of employment, or someone who has earned a university degree in the subject. The classic brief definition of economics, set out by Lionel Robbins in 1932, is "the science which studies human behavior as a relation between scarce means having alternative uses." Without scarcity and alternative uses, there is no economic problem. Briefer yet is "the study of how people seek to satisfy needs and wants" and "the study of the financial aspects of human behavior."

Economics has two broad branches: microeconomics, where the unit of analysis is the individual agent, such as a household or firm, and macroeconomics, where the unit of analysis is an economy as a whole. Another division of the subject distinguishes positive economics, which seeks to predict and explain economic phenomena, from normative economics, which orders choices and actions by some criterion; such orderings necessarily involve subjective value judgments. Since the early part of the 20th century, economics has focused largely on measurable quantities, employing both theoretical models and empirical analysis. Quantitative models, however, can be traced as far back as the physiocratic school. Economic reasoning has been increasingly applied in recent decades to other social situations such as politics, law, psychology, history, religion, marriage and family life, and other social interactions. This paradigm crucially assumes that resources are scarce because they are not sufficient to satisfy all wants, and that "economic value" is willingness to pay as revealed for instance by market (arms' length) transactions. Rival heterodox schools of thought, such as institutional economics, green economics, Marxist economics, and economic sociology, make other grounding assumptions. For example, Marxist economics assumes that economics primarily deals with the exchange of value, and that labor (human effort) is the source of all value.

The expanding domain of economics in the social sciences has been described as economic imperialism.

Education

Education encompasses teaching and learning specific skills, and also something less tangible but more profound: the imparting of knowledge, positive judgement and well-developed wisdom. Education has as one of its fundamental aspects the imparting of culture from generation to generation (see socialization). To educate means 'to draw out', from the Latin educare, or to facilitate the realization of an individual's potential and talents. It is an application of pedagogy, a body of theoretical and applied research relating to teaching and learning and draws on many disciplines such as psychology, philosophy, computer science, linguistics, neuroscience, sociology and anthropology.

The education of an individual human begins at birth and continues throughout life. (Some believe that education begins even before birth, as evidenced by some parents' playing music or reading to the baby in the womb in the hope it will influence the child's development.) For some, the struggles and triumphs of daily life provide far more instruction than does formal schooling (thus Mark Twain's admonition to "never let school interfere with your education"). Family members may have a profound educational effect — often more profound than they realize — though family teaching may function very informally.