CZ:Economics Workgroup: Difference between revisions

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{{Workgroup|group=Economics}}
{{Workgroup|group=Economics}}


:::''(The previous contents of the CZ:Economics Workgroup page, covering the years 2007 and 2008, is archived with the talk page contents [http://en.citizendium.org/wiki/CZ_Talk:Economics_Workgroup/Archive_1]).''
:::''(The previous contents of the CZ:Economics Workgroup page, covering the years 2007 thru 2011, is archived with the talk page contents [http://en.citizendium.org/wiki/CZ_Talk:Economics_Workgroup/Archive_1]).''
{{TOC|right}}


==WELCOME TO THE ECONOMICS WORKGROUP==


Contributions - drafting of new articles, comments on existing articles and editing of existing articles - are welcome, particularly  from authors who are economics professionals or economics graduates or undergraduates.
'''If you are an economist - or a budding economist - who is considering making a contribution to Citizendium, this is a good place to start. It is also the place where economists and others can make comments and suggestions about the style and content of the economics articles.'''


Contributions from  professionals or students of other disciplines concerning the clarity of existing articles are also very welcome. The main pages, addendum subpages and timeline subpages (but not the tutorials subpages) of the economics articles are intended to be readily accessible to educated non-economists (with the help of the glossaries on the related articles sub-pages where necessary). Comments drawing attention to passages that do not meet that requirement are particularly welcome.


Under the rules of Citizendium all authors and editors are entitled to edit existing articles, but experience has shown that misunderstandings tend to arise if alterations are made without first inviting discussion on the article's talk page - as a result, for example, of lack of awareness of the specialised interpretations that economists apply to some everyday terms. The CZ tradition is to be courteusly responsive to criticism.


As far as I am aware, the economics workgroup does not at present have an active economics editor. I am not an editor but I have been active as an economics author for just over a year, and I should be happy to show the ropes to newcomers, and to do what I can to help in other ways. You can contact me by putting a message on my user page [http://en.citizendium.org/wiki/User:Nick_Gardner] or on the discussion page of this workgroup page.[[User:Nick Gardner|Nick Gardner]] 17:22, 17 January 2009 (UTC)
==The problem==
J M Keynes touched on the problem of writing economics articles for an encyclopedia when he wrote "economics is a difficult and technical subject,  but nobody will believe it". Unlike say, archeology, economics has an impact upon people's lives. They have to take some interest in economics because it affects so many of their choices. So there is a popular demand for simple explanations of this difficult and technical subject. The problem is how to meet that demand while, at the same time, meeting  the demand of economics students and practitoners for a professional treatment of the subject.


I am now an editor, and I should be happy to provide assistance in that capacity. [[User:Nick Gardner|Nick Gardner]] 11:19, 18 January 2010 (UTC)
==The articles==
Citizendium's "subpages" setup provides a ready-made solution to that problem by facilitating the adoption of a "parallel processing" format. The thinking behind the [[economics/Addendum#Article format|economics article format]] embodies the observation that there are a lot of  well-educated people who are no longer comfortable with the use of charts  equations and statistics (if they ever were), because do not have to deal with  them in their day-to-day lives. The main pages are for them,  and as well as avoiding charts and equations, those pages avoid closely-reasoned arguments and  the use of economics jargon other than words and expressions that are in colloqual use. The "tutorials" subpages are for students and practioners of economics, and contain the sort of material that is to be found in economics textbooks, and the "addendum" subpages are both for them, and for  people other than economists, who are familiar with the use of graphs, and statistics.


==Core articles==
In addition to articles on individual topics, such as [[macroeconomics]] and [[taxation]], there are articles on connected sequences of events,  such as [[Great Depression]] and [[Sovereign default]]. The use of the "Timelines" subpages enables the additional dimension in such articles to be dealt with without disrupting the main page. The main page is then free to deal with the topic under a set of subject headings such as "monetary policy", "fiscal policy" etc, without interruptions to avoid  temporal overlaps. Disruption  of subject paragraphs by the intrusion of a geographical dimension can be avoided by dealing with it in country-by-country paragraphs on the Addendum subpage. Wikilinks can be used to make connections between paragraphs on the main page and those on the subpages.


The 2007-8 part of this workgroup page contained a list of proposed "core articles", most of which have since been written (for a list, see the article on [[economics]]).  
==Your contribution==
The existing coverage of economics is less comprehensive than might appear, and there is room for improvement in many of the existing articles. Here are some suggestions for your consideration:
* health economics.
* transport economics.
* energy economics.
* development economics.
* economics of (you name it)
* economic history of (country).
* economic history of (industry, product, sport, etc).
* profile of an eminent economist.
* more on [[neuroeconomics]] and [[Philosophy of economics#Behavioural economics|behavioural economics]]
* evidence from experimental psychology that bears on the limitations of the assumption of rationality in economics.
* the addition of wikipedia-style graphics to selected articles.
* something on Islamic finance.
* econometrics.
* theory of the firm.
* forecasting models
* state capitalism[http://www.economist.com/node/21543160]


Still outstanding are the following:
==Making a start==
* Budget deficit
[[CZ:How to edit an article]] tells you how to get started on an article.
* Business economics
* Economic history
* Economics of the firm
* Economic models
* Endogenous growth
* General equilibrium
* Precautionary principle
* Rational expectations
* Sustainability


[[User:Nick Gardner|Nick Gardner]] 17:22, 17 January 2009 (UTC)
==Core articles==
 
''Click [[CZ:Core Articles/Economics|here]] to edit this transcluded list (remove once started)''
==Notes on the format that has been adopted for the economics articles==
 
With the agreement of the then economics editor Martin Baldwin Edwards, I have adopted the following practices.
* main page articles are written for the needs of non-economists and others who lack familiarity with mathematical and graphical means of expression;
* graphs, charts, equations and matter, the understanding of which, requires familiarity with economic theory are confined to the Tutorials subpage;
* subordinate material, the inclusion of which would disrupt the continuity of the presentation in the main table is normally placed on the Addendum subpage;
* maximum use is made of the Timelines subpages;
* generally acceptable sources are quoted for every statement on any of the pages that is likely to have a significant influence upon the reader's understanding. [[User:Nick Gardner|Nick Gardner]] 19:30, 17 January 2009 (UTC)
 
==Use the Forum !==
 
You can air your views on all matters concerning the economics articles, other than those that only concern an individual article - and that could trigger a lively and informative debate.
 
[[User:Nick Gardner|Nick Gardner]] 19:30, 17 January 2009 (UTC)
 
==Possible deletions==
I am reviewing the economics articles in order to identify possible candidates for deletion. I should welcome comments and contributions.[[User:Nick Gardner|Nick Gardner]] 11:16, 18 January 2010 (UTC).
 
I have, so far, identified the following as candidates for deleting or blanking:
*[[cost of debt]]        -- blanked (definition)
*[[interest (finance)]]  -- moved to [[interest rate]] and blanked (definition)
*[[time value of money]] -- blanked (definition)
*[[yield to maturity]]  -- blanked (redirect to [[Yield (finance)]])
 
[[User:Nick Gardner|Nick Gardner]] 10:18, 21 January 2010 (UTC)
 
Fine. Also interest(disambiguation). [[User:Martin Baldwin-Edwards|Martin Baldwin-Edwards]] 13:06, 22 January 2010 (UTC)
 
: I have blanked these four articles up to a definition (as indicated above). --[[User:Peter Schmitt|Peter Schmitt]] 21:57, 22 January 2010 (UTC)
 
==Setting up a group of linked articles on a common topic==
 
The CZ wiki has the potential of generating  more navigable and user friendly articles than would be possible on Wikipedia, by creating sets of linked articles on common topics.
 
Among  issues to consider when creating or bringing together  a set of  linked articles are its provisions for coordination,  terminology,  navigation and adaptation. Here are some suggestions
 
CZ ‘s system of editors gives it a major advantage in the provision of coordination.  It would obviously be a help if the active editors of the workgroup concerned were  to  agree in advance upon the selection of a lead editor, who would then  be  responsible for advising authors on matters such as consistency of terminology,  avoidance of  excessive duplication,  and ease of navigation. 
 
CZ  experts  (including me) are apt to use without explanation, terms that they mistakenly believe to be widely understood.  Links to lemma article definitions overcome that problem, but without coordination the system can become chaotic with rival definitions  as  variants of the same concept.  The creation of  a central glossary as a subpage to the “main article” (of which more later)  provides the required coordination, provided that authors learn to  refer to it,  and to use it for lemma creating.  Lemma articles  can’t  provide  an  in-depth explanation of a concept but  that can be provided either by a link to a stand-alone article on the concept or  a link to a headed paragraph in an article on a different article (using the # connector). 
 
What I have called the “main article” could serve as the navigation centre for the  new group of  articles.  One of its subpages  could be an alphabetical index  of  articles and topics within articles, with links to article titles and to the  headed paragraphs containing the topics.  Another subpage could provide a thematic  or “taxonomic” index  (like the [[Economics/Related Articles]] subpage) in which links to articles and headed paragraphs are shown in alphabetical order under each of a series of subject headings . The related articles subpage of  every article in the group could then display links to both indexes.
 
To preserve adaptability, the organising framework could be allowed to evolve as an "open system" that could develop interdisciplinary links and node articles (like the sociology/politics/economics article on [[social capital]]), and with the eventual possibility of a link from a "metagroup"


{{CZ:Core Articles/Economics}}


[[User:Nick Gardner|Nick Gardner]] 11:43, 20 November 2010 (UTC)
==Articles==
{{subtopics-note}}
{{r|Economics}}
{{:Economics/Related Articles}}

Latest revision as of 10:36, 9 November 2014

Workgroups are no longer used for group communications, but they still are used to group articles into fields of interest. Each article is assigned to 1-3 Workgroups via the article's Metadata.

Economics Workgroup
Economics article All articles (362) To Approve (0) Editors: active (0) / inactive (13)
and
Authors: active (172) / inactive (0) 		Workgroup Discussion
Recent changes Citable Articles (12)
Subgroups (5)
Checklist-generated categories:

Subpage categories:

Missing subpage categories:

Article statuses:

(The previous contents of the CZ:Economics Workgroup page, covering the years 2007 thru 2011, is archived with the talk page contents [1]).


If you are an economist - or a budding economist - who is considering making a contribution to Citizendium, this is a good place to start. It is also the place where economists and others can make comments and suggestions about the style and content of the economics articles.


The problem

J M Keynes touched on the problem of writing economics articles for an encyclopedia when he wrote "economics is a difficult and technical subject, but nobody will believe it". Unlike say, archeology, economics has an impact upon people's lives. They have to take some interest in economics because it affects so many of their choices. So there is a popular demand for simple explanations of this difficult and technical subject. The problem is how to meet that demand while, at the same time, meeting the demand of economics students and practitoners for a professional treatment of the subject.

The articles

Citizendium's "subpages" setup provides a ready-made solution to that problem by facilitating the adoption of a "parallel processing" format. The thinking behind the economics article format embodies the observation that there are a lot of well-educated people who are no longer comfortable with the use of charts equations and statistics (if they ever were), because do not have to deal with them in their day-to-day lives. The main pages are for them, and as well as avoiding charts and equations, those pages avoid closely-reasoned arguments and the use of economics jargon other than words and expressions that are in colloqual use. The "tutorials" subpages are for students and practioners of economics, and contain the sort of material that is to be found in economics textbooks, and the "addendum" subpages are both for them, and for people other than economists, who are familiar with the use of graphs, and statistics.

In addition to articles on individual topics, such as macroeconomics and taxation, there are articles on connected sequences of events, such as Great Depression and Sovereign default. The use of the "Timelines" subpages enables the additional dimension in such articles to be dealt with without disrupting the main page. The main page is then free to deal with the topic under a set of subject headings such as "monetary policy", "fiscal policy" etc, without interruptions to avoid temporal overlaps. Disruption of subject paragraphs by the intrusion of a geographical dimension can be avoided by dealing with it in country-by-country paragraphs on the Addendum subpage. Wikilinks can be used to make connections between paragraphs on the main page and those on the subpages.

Your contribution

The existing coverage of economics is less comprehensive than might appear, and there is room for improvement in many of the existing articles. Here are some suggestions for your consideration:

  • health economics.
  • transport economics.
  • energy economics.
  • development economics.
  • economics of (you name it)
  • economic history of (country).
  • economic history of (industry, product, sport, etc).
  • profile of an eminent economist.
  • more on neuroeconomics and behavioural economics
  • evidence from experimental psychology that bears on the limitations of the assumption of rationality in economics.
  • the addition of wikipedia-style graphics to selected articles.
  • something on Islamic finance.
  • econometrics.
  • theory of the firm.
  • forecasting models
  • state capitalism[2]

Making a start

CZ:How to edit an article tells you how to get started on an article.

Core articles

Click here to edit this transcluded list (remove once started)


High priority

Lower priority

Lowest priority

Articles

Click on the [r] after the first definition below to edit this list of transcluded subtopics.

See also the taxonomic index

(t) denotes a table

A

adverse selection - agency problem - antitrust - applied statistics - Arrow-Debreu theorems - arbitrage - arbitrage pricing theory - Asian banking crisis - asset price bubble - auctioneer, Walrasian

B

- baby-sitting crisis - balanced budget amendment - Balassa-Samuelson effect - banking - bank failures and rescues - Bank of England - Bank for International Settlements - Basel Committee for Banking Supervision - Basel I - Basel II - beta - Black-Scholes model - bond - book value - bubble - budget deficit.

C

capital - Capital Asset Pricing Model - circular flow of income - Cobb-Douglas function - commodity prices 2007-2010 (t) - consumer's surplus - clearing house - collaterised mortgage obligation - comparative advantage - competition - competition policy - complex interactive system - consumption function - contagion - contingent claims analysis - cost-benefit analysis - crash of 1929 - crash of 2008 - creative destruction - credit crunch - credit rating agency - credit risk - credit risk transfer - cross elasticity of demand

D

deflation - debt - debt trap - default - derivative - Diamond-Dybvig model - diminishing returns - discounted cash flow - discount rate - disequilibrium - distributive efficiency - dividend discount model - division of labour

E

econometrics - economic efficiency - economic philosophy - economic statistics - economies of scale - efficient market hypothesis - elasticity - employment - endogenous|growth - equilibrium - eurobond - eurozone - eurozone crisis - European Central Bank - exchange rate - exclusive dealing - existence theorem - expectations - experimental economics - externalities

(RETURN)

F

factors of production - factor price equalisation - Fannie Mae - Federal Deposit Insurance Corporation (a) - Federal Reserve System - financial instability hypothesis - financial economics - financial system- fiscal dilemma - fiscal drag - fiscal multiplier - fiscal policy - fiscal sustainability - fiscal stimulus - fiscal stimulus packages 2008 - 2010 (t) - floating exchange rate - forecasting models - foreign direct investment - foreign exchange market - frictional unemployment - Frank Ramsey - Freddy Mac - frictional unemployment - futures

G

general equilibrium - Giffen good - globalisation - gold standard - Government Sponsored Enterprises - Great Depression - Great Depression in the United States - Great Recession - gross domestic product - gross national product - growth rates 2007 - 2009 (t) - G20 summit

H,I

Hecksher/Ohlin - hedge fund - herding - History of economic thought - human capital - Human Development Index

impossibility theorem - income effect - incomplete contract - increasing returns - indexation - microeconomics--indifference curve - infant industry - inflation - instrumentalism - intergenerational transfers - internal rate of return - international finance - International Monetary Fund - international trade - intentional stance - interest - IS-LM model

(RETURN)

J,K,L

Jackson Hole consensus - Kaldor-Hicks efficiency - Keynes - Keynesians - Keynesian theory

labour - labour market - land - Laspeyres index - learning curve - leverage - LIBOR-OIS spreads 2007- 2009 (t) - liquidationism - liquidity trap

M

macroeconomics - macroprudential financial policy - marginal cost/revenue - marginal propensity to consume - market - market power - market risk - Markowitz - Marshall - Marx - mercantilism - mergers - microfinance - migration - Minsky - monetarism - monetary policy - money - money market - money supply - moral hazard - mortgage - multiplier effect

(RETURN)

N,O

NAIRU (natural rate of unemployment) - national debt - national income - New Deal - normative economics - net present value

Okun's law - open market operations - opportunity cost - optimal taxation - option - optimum currency area - output gap - outsourcing

P,Q

Paasche index - Pareto efficiency - philosophy of economics - Phillips curve - portfolio insurance - predatory pricing - price collusion - price index - prisoner's dilemma - production function - production possibility frontier - productive efficiency - public choice theory - public debt - public expenditure - public goods - purchasing power parity - quality bias - quantitative easing - quantity theory of money - quotas

(RETURN)

R

Ramsey equation - rational expectations - real bills doctrine - recapitalisation - recession - recession of 2009 - rent - rent-seeking - required rate of return - reserve ratio - restructure - returns to scale - Ricardo - risk management - risk premium - Robinson-Patman Act - rule of reason - run (banking)

S

scale economies - Scandinavian banking crises - seasonal correction - second best theory - securitisation - separation theorem - shadow banking system - Sherman Act - shock (economics) - Smoot-Hawley Tariff - social capital - social choice theory - social opportunity cost rate - social time preference discount rate - sovereign default - sovereign spreads 2008-2010(t) - spending multiplier - spread - stability and growth pact - Stern review of the economics of climate change - Stolper/Samuelson theorem - structured finance - subprime mortgage crisis - substitution effect - supply and demand - sustainability (fiscal) - swaps - systemic crisis

(RETURN)

T

tariffs - taxation - tax wedge - Taylor rule - Tobin tax - terms of trade - time preference

U,V,W,X,Y,Z

unanimity rule - unemployment - unemployment rates 2007 - 2009 (t) - utility - Veblen good - Walras' law - Washington Consensus - world trade 2008 - 2009 (t) - welfare economics - Wieser's Law - World Bank

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