In an 1849 essay, Scottish historian Thomas Carlyle dubbed this field of study "the dismal science.
In an 1849 essay, Scottish historian Thomas Carlyle dubbed this field of study "the dismal science." The use of the Latin phrase "ceteris paribus," or "all else held constant" was popularized by Alfred Marshall for performing analysis in this field. Okun's Law, Say's Law, and Gresham's Law are used in this field. In 1969, it was added as the sixth category of annual Nobel Prizes, whose recipient in 2008 was Paul Krugman. For 10 points, identify this field of study, which includes the concepts of opportunity cost, marginal utility, and supply and demand.
In an 1849 essay, Scottish historian Thomas Carlyle dubbed this field of study "the dismal science.
Economics