Economics/Glossary: Difference between revisions

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==A==
==A==

Revision as of 10:07, 18 August 2009

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https://en.citizendium.org/wiki/index.php?title=Economics/Glossary&printable=yes
Glossary of terms related to Economics.
(more specialised glossaries are available on the Related Articles subpages of other economics articles)

A

  • Adverse selection [r]: a partial market failure that occurs when there are traders who take advantage of asymmetric information, raising uncertainty and leading to a reduction in the value of its products. [e]
  • Applied statistics [r]: the practice of collecting and interpreting numerical observations for the purpose of generating information. [e]
  • Arbitrage [r]: transactions to take advantage of a price differences of a product in different markets by buying where it is cheap and selling where it is dear. The possibility of arbitrage often prevents the occurrence of price differences. [e]
  • Asymmetric information [r]: a situation in which a seller has information that is not available to potential buyers - or vice-versa. [e]
  • Automatic stabilisers [r]: the tendency in times of falling economic activity for the government spending to rise, and for tax receipts to fall - and the reverse tendency in times of rising economic activity [e]

B

  • "Bad bank" [r]: Add brief definition or description
  • Banking panic [r]: A widespread fear of insolvency because of uncertainty concerning the true value of banking assets. [e]
  •  Base money - see Monetary base
  • Basis point [r]: (bp) one hundredth of a percentage point . [e]
  • Beta [r]: A measure of the degree to which the rate of return of a share tracks that of the equity market as a whole (defined as the covariance between the share's rate of return and the average market rate, divided by the variance of the market rate). If beta = 1 the share's rate of return moves in line with the market rate; if it is negative, it falls when the market rate rises. [e]
  • Bill (finance) [r]: {a) A loan with a duration of no more than a year (b)a documentary record of short-term indebtedness. [e]
  • Bill of Exchange [r]: A written order to pay the holder a stated sum of money at a stated date (otherwise known as a "draft", the person who is paid being termed the "drawer"). [e]
  • Bond (finance) [r]: a fixed-interest security issued by governments, companies, banks and others. [e]
  • Broad money [r]: cash, current account deposits in banks and other financial institutions, savings deposits and time-restricted deposits (see also high-powered money). [e]
  • Broker [r]: Individual or firm that provides investment advise to clients and executes their buying and selling instructions, usually by acting as a market maker. [e]
  • Bubble (economics) [r]: A surge in prices that raises expectations of further increases, so generating further increases: a process that continues until confidence falters, the bubble "bursts" and prices rapidly revert to an objectively-based level. [e]
  • Budget balance [r]: the difference between a central government's revenue and its expenditure in a given financial year. Conventions differ concerning the items that are included, and various cyclical adjustments can be made to identify its discretionary element.. [e]
  • Budget deficit [r]: the excess of a government's expenditures over its receipts. See also cyclically-adjusted budget deficit [e]

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