BRANCHES OF

SOCIAL SCIENCE
RELATED TO
ECONOMICS
OTHER SOCIAL SCIENCES
Political science- study of
government
Civics- study of rights and
responsibilities of citizens
Demography- study of
human populations.
Geography- study of
distribution and
arrangement of elements of
the earths surface
Philosophy-the rational
and critical inquiry into
basic principles.
Anthropology-study of how
people and cultures develop
History- study of totality of
past events
Sociology-study of how
people behave in groups
Psychology-study of how
people think and behave
Mathematics- a way of
describing of numbers and
other measurable quantities.
Ethics- the study of such
principles.
DIVISION OF ECONOMICS
MICROECONOMIC

Deals with the economic

behavior of individual units
such as the consumers,
firms and the owners of the
factors of production.
MACROECONOMICS

Deals with the economic

behavior of the whole
economy or its
aggregates such as
government, business and
household.
 GDP VS GNP
Is the sum total value of all goods and
services produced by all citizens
within the county in a particular year
The value of a country's overall output
of goods and services (typically during
one fiscal year) at market prices,
excluding net income from abroad.
Gross Domestic Product (GDP) can be
estimated in three ways which, in
theory, should yield identical figures.
They are
(1) Expenditure basis: how much
money was spent,
(2) Output basis: how many goods and
services were sold, and
(3) Income basis: how much income
(profit) was earned.
Is the sum total value of all
goods and services produced by
all citizens within and outside
the county in a certain year
Is thetotalvalueof allfinal
goodsandservicesproduced
within a nation in a particular
year,plusincomeearned by its
citizens (including income of
those located abroad), minus
income ofnon-residentslocated
in that country. Basically, GNP
measures the value of goods and
services that the country's
citizens produced regardless of
their location