Here’s a set of definitions for common and emerging economic and fiscal terms often seen bandied about in news reports.

Lease payments are tied to the terms of different forms of leasing, with differences in lease types coming from how maintenance is treated.

Explore the principles of mainstream economics, its origins in neoclassical thought, and criticisms from heterodox theories. Discover how it impacts economic policies.

A country has an absolute advantage if its output per unit of input of all goods and services produced is higher than that of another country. An advisory group initiated by the Board in the 1960’s to ...

Behavioral Economics is the application of psychology to the field of economics. It describes the role that psychology plays among consumers, employers, and governments, which then impacts markets and ...

An economic theory originated by the British economist John Maynard Keynes and his followers. Keynes maintained that governments should use the power of the budget to maintain economic growth and ...