Economics attempts to explain how the behavior of consumers, businesses, and governments affect unemployment, inflation, interest rates, and Gross National Product (GNP). GNP here means the value of all goods and services produced by a country over a specific period of time. Based upon changes in GNP or government spending, for instance, economics helps to estimate the positive or negative impact on unemployment, inflation, or interest rates.
In the blogosphere, writers often use the economics tag in the context of politics and public policy debates regarding unemployment, government spending, or taxes. Another popular topic is the affect public policy decisions have on stock markets. The economics tag would be relevant to discussions involving recession, financial crisis, or economic crisis.
by Joe Kohli
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