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Business and Economics Research

Taxonomy Code: TR-8000.1000

Programs that conduct research which focuses on how society distributes scarce resources such as land, labor, raw materials and machinery to produce goods and services as well as the organizational frameworks related to these processes. Economists collect and analyze data, monitor economic trends and develop forecasts; and address issues such as energy costs, inflation, interest rates, exchange rates, business cycles, taxes and employment levels. Included are microeconomists who study the supply and demand decisions of individuals and firms; industrial economists who study the market structure of particular industries in terms of the number of competitors and the market decisions of competitive firms and monopolies; macroeconomists who study historical trends in the whole economy and forecast future trends in areas such as unemployment, inflation, economic growth, productivity and investment; international economists who study international financial markets, exchange rates, and the effects of various trade policies such as tariffs; labor economists who study the supply and demand for labor and the determination of wages; public finance economists who study the supply and demand for labor and the determination of wages; and econometricians who develop and use mathematical techniques such as calculus, game theory and regression analysis to formulate economic models.

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