Science, Tech, Math › Social Sciences What Are the Various Subfields of Economics? Print Image Source / Getty Images Social Sciences Economics U.S. Economy Employment Supply & Demand Psychology Sociology Archaeology Ergonomics By Mike Moffatt Mike Moffatt Professor of Business, Economics, and Public Policy Ph.D., Business Administration, Richard Ivey School of Business M.A., Economics, University of Rochester B.A., Economics and Political Science, University of Western Ontario Mike Moffatt, Ph.D., is an economist and professor. He teaches at the Richard Ivey School of Business and serves as a research fellow at the Lawrence National Centre for Policy and Management. Learn about our Editorial Process Updated on May 24, 2019 At the most basic level, the field of economics is divided into microeconomics, or the study of individual markets, and macroeconomics, or the study of the economy as a whole. At a more granular level, however, economics has many subfields, depending on how finely you wish to divide the science. A useful classification system is provided by The Journal of Economic Literature. Read More Microeconomics Vs. Macroeconomics By Jodi Beggs Subsets of Economics Here are some of the subfields that the JEL identifies: Mathematical and Quantitative Methods Econometrics Game Theory and Bargaining Theory Experimental Economics Microeconomics Macroeconomics and Monetary Economics The Business Cycle Money and Interest Rates International Economics and International Trade Finance and Financial Economics Public Economics, Taxation, and Government Spending Health, Education, and Welfare Labor and Demographic Economics Law and Economics Industrial Organization Business Administration and Business Economics; Marketing; Accounting Economic History Economic Development, Technological Change, and Growth Economic Systems Agricultural and Natural Resource Economics Urban, Rural, and Regional Economics In addition, there are a number of fields within economics that didn't significantly exist when the JEL classification was developed, such as behavioral economics, organizational economics, market design, social choice theory, and a number of others. Cite this Article Format mla apa chicago Your Citation Moffatt, Mike. "What Are the Various Subfields of Economics?" ThoughtCo, Apr. 5, 2023, thoughtco.com/subfields-of-economics-1146356. Moffatt, Mike. (2023, April 5). What Are the Various Subfields of Economics? Retrieved from https://www.thoughtco.com/subfields-of-economics-1146356 Moffatt, Mike. "What Are the Various Subfields of Economics?" ThoughtCo. https://www.thoughtco.com/subfields-of-economics-1146356 (accessed April 26, 2024). copy citation