Economic History studies the evolution of the phenomena from a historical standpoint. The analysis is taken using a combination of statistical and historical methods and applying theories to historical situations.

Economic historians argued that the two are split into distinct parts:

1. Economic History: The study of how economic phenomena evolved in the past
2. Historical Economics: Testing the generality of theory using historical episodes

This explained in lay terms could be an attempt at a distinction between Arts and Science -the former being primarily an economic history and the latter primarily an economic science.

Renowned economic historians have disputed over the separation of economic phenomena and economic theory in the inter-war era. Some propose that two were inseparable since, pure economics involved a significant component of economic history. Others believe that the study of Economic, which has research and academic branches, should be separated from mainstream economics.

Quantitative (econometric) economic history also known as cliometrics which was popular in the 1960s and 1970s argued that the inclusion of history is very paramount to formulating substantive theory.

The 21st century has however witnessed the closure of the separate programmes and has seeded the discipline into either economics or history departments respectively.

The study incorporates business history and financial history and also relates to social history in terms of demographics and labour. It is now regarded as a form of applied economics and is taught as a special field component of regular economics Ph.D. programmes therefore, there is no specialised graduate programme on the discipline.

Source: http://EzineArticles.com/?expert=Dennis_Moore_Hopkins

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As you may have heard, the choice of school and the pursuit of a degree are extremely important in determining your success in economics. Just about every school offers macro economics and microeconomics courses, but to really get ahead, you’ll want to get into a graduate school with the best department of Economics you can find. The best schools may offer more passionate teachers, better internship options, more extensive areas of study and the sort of prestige you’ll need when looking to start your career in the competitive labor market.

When choosing classes from a school’s department of Economics, the best advice is to take more math courses! It can be easy to fall behind in your studies if you aren’t crystal clear on the statistics, calculus and mathematical concepts. When you were trying to get your bachelor’s degree in economics, you were likely scanning the course options for “easy electives” and ways of pulling your GPA up. However, graduate schools care most about what hard classes you’ve taken and how well you did in them, rather than your GPA as a whole. Be sure you take real analysis, calculus and econometrics, as these classes will be vital to your understanding.

To get an undergrad degree in Business Economics, students attending an accredited economics university will need to take courses like macro economics, microeconomics, financial accounting and reporting, calculus, economics statistics, econometrics, money/banking/credit, business writing, the stock market, labor economics, monetary economics, international trade theory, law and economics, industrial organization, economics and business strategy, organizational psychology, formal organizations and politics and the economy.

The average starting salary for economists is $38,000 for a bachelor’s degree, $48,000 for a master’s and $70,000 for a PhD, according to a 2002 National Association of Business Economics survey. The median income for the economics major is higher than any other major, experts say. Economics research also suggests that economics majors earn 20% more than business administration majors, 19% more than accounting majors, 18% more than marketing majors and 15% more than finance majors. When a potential employer sees this major on a resume, he or she immediately understands that you have a solid foundation of math, politics, business and economic theory. Your degree also shows that you have the capacity to process complex subjects and problem solve, which is valuable in any field.

According to US News & World Report, Harvard University in Boston, Massachusetts is the top-rated school for Business Economics. The second-best university in this field is Stanford in California and Northwestern University in Illinois. After the top-three, other economics college options include the University of Pennsylvania (Wharton) in Philadelphia, the Massachusetts Institute of Technology (Sloan) in Cambridge, the University of Chicago, UC-Berkeley in California, Dartmouth College in New Hampshire, Columbia University in New York City and Yale University in Connecticut. It’s highly recommended that individuals looking to remain competitive in their field pursue advanced education with Master’s or PhD’s.

Unlike undergrad, the department of Economics in grad schools looks to cultivate the best and brightest talent. Most students are granted a fellowship, assistantship, grant, tuition remission or monthly stipend to cover the cost of the program and living expenses. Be aware that you’ll be required to do a lot of dirty work for your money, like grading, teaching, lecturing, leading weekly section meetings, researching and writing. If a lot of students are admitted, then you may still need to pay or seek NSF grants on your own. The good news is that, after all their hard work, 99% of graduate students get placed into applied economics positions right out of grad school.

Source: http://EzineArticles.com/?expert=Peggy_Ramerez

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We live in an ever more risk intolerant world. Government at all levels regularly passes statutes, ordinances and laws to protect citizens. They are always well-intended but often counter-productive. I believe that the Peltzman Effect is as intuitive in economics as it is in the area of government regulation.

We have just experienced the melt down of the United States automobile industry. The causes of this implosion were many and have percolated for decades. However, two of the main reasons are government meddling and the irrationality of the auto workers unions.

The government has legislated dozens of arbitrary safety, environmental and economy measures that car manufacturers have had to respond to. The result, while sometimes desirable, has not always resulted in the production of products that consumers wanted to purchase. Anyone remember the Cadillac Cimarron, or the Chrysler K-Car. This has distorted economic realities and keystone market principals.

The United Auto Workers union has enjoyed a particularly spectacular period of derision, suspension of economic reality and tone deafness rarely displayed in the Industrial Age. Mind numbing work rules and job classifications, paying workers to sit idle (Jobs Banks), work slowdowns and strikes and hostility to change doomed the auto companies, even while foreign makers were building and selling cars successfully right here in the United States.

This week the venerable motorcycle brand, the iconic American product, Harley Davidson, announced that it will leave its home for over 107 years, Milwaukee, if work rules and costs are not brought down by the unions. The Company’s management requested these adjustments in April. They have fallen on deaf ears.

This is a Peltzman Effect type of occurrence in economics. Workers demand, and often receive terms of employment that enhance their security and compensation in the short term. All the while they are roiling their industry and laying the seeds of their own destruction in the mid or longer term.

Harley Davidson has options. States and locales are falling all over themselves trying to lure the Company with tax abatements. How many options does a line worker for Harley really have? Also, consider the suppliers in Greater Milwaukee that feed the production chain at Harley. Their workers are at risk because of the great motorcycle maker relocates. The tax base will shrink. The risk to innocent bystanders is redistributed because of the reckless actions of others.

The Peltzman Effect and its application in business and industry can be seen in case after case. The following once thriving industries and job categories have been largely decapitated in the United States: production of shoes and garments, glaziers, ship building, stevedores, small electrics, sporting goods, toys, steel and autos have been decimated by well-intentioned governments and union contracts.

Capital deploys where it can be most productive. It is fungible. There are no longer barriers to the swift, sure movement of money to any place on earth. It is time that government and labor realize the realities of this new world and respond with contemporary, creative new proposals to remain competitive in the face of global competition. As Professor Peltzman demonstrates in his theorem, no matter how well intended the regulation or contract, there can be a significant chance of unintended consequences that harm innocent bystanders.

Source: http://EzineArticles.com/?expert=Geoff_Ficke

1. London is the capital city of England, and has a lot of rich and varied history. As well as the museums, galleries and monuments, there’s lots of culture from the many influences and people from all over the world who live in this incredible city.

2. There’s always something going on here. From the many festivals and cultural events to the exhibitions and conferences, you’re bound to find plenty to keep you entertained, no matter what your interests and hobbies are.

3. London is well known for it’s sports teams, and whether you’re a fan of football, boxing, rugby, tennis, athletics, or any sport, you’ll find that you can watch or participate in it in London. With the 2012 Olympics in London only a couple of years away, if you’re a keen athlete, it might not be too late to see if you can make it into the Olympic team by being in London.

4. The entertainment and nightlife in London is legendary the world over. From the theatre of the west end, the concerts at the many music venues, and the famous nightclubs, to the street performers in Covent Garden, and elsewhere, if you’re a fan of the arts, then you’ll definitely want to live in London.

5. London is also arguably the business capital of the world. With many international companies having their UK base in London, and many businesses choosing to locate to London, it’s not hard to see why. With so many financial companies and service sector businesses, as well as travel, music, film, publishing, digital media and many more industries here, it’s not surprising that so many companies want to be in the capital.

6. London is easy to get round, thanks to the underground. Many people who live here don’t own a car, as it’s far easy to get around by tube, or by bike. If you want to do your bit for the environment and reduce your carbon footprint, perhaps you’ll take the tube. For those times when you do need to travel further afield, Heathrow, Gatwick, Stanstead and Luton airports are easy to get to, and there is a comprehensive train and motorway network too.

7. London is well known for having some of the best restaurants and most exciting chefs in the world. Whilst in previous years, those in the know thought that English food was nothing to get excited about, new chefs, redesigned restaurants and fresh local and adventurous ingredients mean that London restaurants are some of the most respected, and reservations are hard to come by.

8. London is probably also the shopping capital of the world. With many designer labels having flagship stores here, as well as huge high street name stores, you’re bound to be able to find what you want and need here. From the biggest shopping centres, shopping streets and markets to the most boutique stores, you’ll find London a unique experience if you enjoy shopping.

9. Studying at a University in London, will offer you strong ties with businesses, so that you can benefit from their expertise and resources. In addition, you’re likely to be able to find a part time job in order to help fund your studies and lifestyle whilst you’re here, thanks to the many shops, bars and other popular places where students find jobs.

10. London really does offer something for everyone, and no matter whether you’re coming to here to study, to improve you’re sporting performance, or setting up a company here, you’ll know that you’re in probably the most exciting city in the world.

Source: http://EzineArticles.com/?expert=M_James

1. You’ll want to choose a university in London that offers the course you want to do. Although you might really want to study in London, if there’s a more appropriate course, or a university well known for your subject elsewhere, would you be better off studying there instead?

2. Accommodation will be another consideration. Will you be living in private accommodation, or will you be able to stay in halls of residence on the university campus? London accommodation will be expensive, and so you’ll want to make sure that you’re getting the best value and making the most of your time in the capital city.

3. Knowing whereabouts in London your university is and where your lectures and seminars will be, can help you to decide where you want to live. Perhaps you don’t actually need to be right in the centre of London, and can live in the suburbs where it’s not as expensive. You might already have friends and family who are in London who can help you.

4. You’re bound to have to travel to your lectures and seminars, and using public transport will be much better than driving in the centre of London. Why not make the most of your time here by using the tube, or cycling? You might prefer to be further away from your university to save money, and so will need to spend more time and money travelling.

5. As you’re a student in London you’ll want to make the most of your leisure time here. With so much to do, from watching Arsenal, Chelsea, Fulham, Spurs or West Ham, to shopping on Oxford Street or at Covent Garden, or going to West End shows, to exploring the museums and galleries and getting to know the city better, you’ll never be bored here.

6. Your university in London may also offer activities that interest you. Perhaps you’ll join one of the sports clubs, or take up acting, or film making, or something completely different. Although you won’t want to choose where you study based on the other facilities offered by the university, having lots to do will keep you occupied and help you learn new skills which can be used in your professional life..

7. You might want to find a part time job whilst you’re studying at your chosen London University. With many restaurants, shops, clubs, bars, museums and galleries available, you’re more likely to be able to find something, than in a much smaller town.

8. Many London universities have links to local businesses. Depending on what and where you’re studying, you could be learning from, or working with, some of the best known companies in the world. Perhaps you’ll want a university with links to a specific industry to help your career.

9. There will be more job opportunities in London, than in most other university cities. With so many international companies having a London base, as well as all the local businesses, you’re bound to be able to find a role that suits you after your studies, no matter whether you want to work for a financial institution or use your language skills.

10. Even if you’ve already got a degree, you might still want to study a post graduate course at a London University. Perhaps you moved to London with your current job, want to take advantage of all the other facilities available in the capital, or just want to spend some time living in London.

Source: http://EzineArticles.com/?expert=M_James