Before the birth of Christianity, the academic domain called “Economics” came into existence, and with the passage of time, it has been encountered with several stages of evolution. Initially the research in the field of economics started with the concepts and theories from classical economics. This particular field of economics basically deals with the free market mechanism, which is commonly known as laissez faire, or invisible hand, which was majorly propagated by Adam Smith, in 1776. Subsequent to the great depression, this particular field of economics started to lose its relevance, and that was the time, when neoclassical economics came into picture. John Maynard Keynes was the protagonist of this particular field, which strongly argues about the intervention of government in the economic processes, and everything should not be left on market dynamics, driven by demand and supply.
As the research on economics moved further ahead, new domains of management started to emerge in, and the world started to witness several unforeseen predicaments, new areas in the domain of economics started to emerge accordingly. To talk about some of those domains, the first name should be competition economics, which deals with the market microstructure, and the modeling of competitiveness. Driven by environmental issues, environmental economics came into existence. Based on the growth of industrialization and demand for energy resources, energy economics came into picture. With the development of financial and capital markets across the world, financial economics came into existence. Subsequent to the Second World War, growing popularity of rock music across the world had given birth to the domain of rockonomics. With the overgrowing change in the pattern of lifestyle, demand of artifacts started to rise, and order to carry out proper valuation of those, artonomics came into existence. These are some of the fields of applied economics. For more information about the applied fields of economics, kindly browse through the pages of www.dissertationindia.org.
As the research on economics moved further ahead, new domains of management started to emerge in, and the world started to witness several unforeseen predicaments, new areas in the domain of economics started to emerge accordingly. To talk about some of those domains, the first name should be competition economics, which deals with the market microstructure, and the modeling of competitiveness. Driven by environmental issues, environmental economics came into existence. Based on the growth of industrialization and demand for energy resources, energy economics came into picture. With the development of financial and capital markets across the world, financial economics came into existence. Subsequent to the Second World War, growing popularity of rock music across the world had given birth to the domain of rockonomics. With the overgrowing change in the pattern of lifestyle, demand of artifacts started to rise, and order to carry out proper valuation of those, artonomics came into existence. These are some of the fields of applied economics. For more information about the applied fields of economics, kindly browse through the pages of www.dissertationindia.org.
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