"The dictionary defines "economics" as "a social science concerned chiefly with description and analysis of the production, distribution, and consumption of goods and services." Here is another definition of economics which I think is more helpful in explaining how economics relates to software engineering.Economics is the study of how people make decisions in resource-limited situations.This definition of economics fits the major branches of classical economics very well.Macroeconomics is the study of how people make decisions in resource-limited situations on a national or global scale. It deals with the effects of decisions that national leaders make on such issues as tax rates, interest rates, foreign and trade policy.Microeconomics is the study of how people make decisions in resource-limited situations on a more personal scale. It deals with the decisions that individuals and organizations make on such issues such as how much insurance to buy, which word processor to buy, or what prices to charge for their products or services."
Quote Details
Added by wikiquote-import-bot
Unverified quote
0 likes
Original Language: English
Available Languages (1)
Sources
Barry Boehm, "Software engineering economics," Software Engineering, IEEE Transactions on 1 (1984), p. 4.
https://en.wikiquote.org/wiki/Macroeconomics
Revision History
No revisions have been submitted for this quote.
Categories
Macroeconomics
21 quotes on TrueQuotesView all quotes by Macroeconomics →
Related Quotes
"A central concern of macroeconomics is the upswings and downswings in the level of real output called the business cy…"
"Macroeconomics is the branch of economics that deals with the whole economy and the big picture. The behavior of smal…"
"Not only is it possible to devise complete models of the economy on hypotheses other than rationality, but in fact vi…"
"Inflation is bad for growth—this has become one of the most widely accepted economic nostrums of our age. But see how…"
"Gore Vidal, the American writer, once described the American economic system as 'free enterprise for the poor and soc…"
"Macro-economic policy had accelerated the "expulsion" of landless peasants from the countryside leading to the format…"
"Macro-economic reform undermined the legal economy, reinforced illicit trade and contributed to the recycling of "dir…"
"So-called macroeconomics has never been real economics but rather an endless series of engineering-type models purpor…"
"While many of the conflicting claims can be reconciled in terms of the short-run and long-run orientation of Keynesia…"
"Accounting for the artificial boom and the consequent bust is not part of Keynesian income-expenditure analysis, nor …"