P 3. Sub-fields of Economics

The study field of Economics can be divided into different sub-fields. The first distinction is between Micro-economics and Macro-economics. The second distinction is between Positive and Normative economics. The third distinction is between economic theory and applied economics The fourth is between Mainstream (or orthodox) economics and Heterodox economics Then in the fifth place a distinction can also be made between rational and behavioural economics

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