Economics

Social exclusion or social marginalisation is the social disadvantage and relegation to the fringe of society. It is a term that has been used widely in Europe and was first used in France in the late 20th century. In the EU context, the European Commission defines it as "a situation whereby a person is prevented (or excluded) from contributing to and benefiting from economic and social progress". It is used across disciplines including education, sociology, psychology, healthcare, politics and economics.

Social exclusion is the process in which individuals are blocked from (or denied full access to) various rights, opportunities and resources that are normally available to members of a different group, and which are fundamental to social integration and observance of human rights within that particular group (e.g. due process).

In economics, economic growth is an increase in the quantity and quality of the economic goods and services that a society produces. It can be measured as the increase in the inflation-adjusted output of an economy in a given year or over a period of time.

The rate of growth is typically calculated as real gross domestic product (GDP) growth rate, real GDP per capita growth rate or GNI per capita growth. The "rate" of economic growth refers to the geometric annual rate of growth in GDP or GDP per capita between the first and the last year over a period of time. This growth rate represents the trend in the average level of GDP over the period, and ignores any fluctuations in the GDP around this trend. Growth is usually calculated in "real" value, which is inflation-adjusted, to eliminate the distorting effect of inflation on the prices of goods produced. GDP per capita is the GDP of the entire country divided by the number of people in the country. Measurement of economic growth uses national income accounting.

The culture of Europe is diverse, and rooted in its art, architecture, traditions, cuisines, music, folklore, embroidery, film, literature, economics, philosophy and religious customs.

In economics and political science, fiscal policy is the use of government revenue collection (taxes or tax cuts) and expenditure to influence a country's economy. The use of government revenue expenditures to influence macroeconomic variables developed in reaction to the Great Depression of the 1930s, when the previous laissez-faire approach to economic management became unworkable. Fiscal policy is based on the theories of the British economist John Maynard Keynes, whose Keynesian economics theorised that government changes in the levels of taxation and government spending influence aggregate demand and the level of economic activity. Fiscal and monetary policy are the key strategies used by a country's government and central bank to advance its economic objectives. The combination of these policies enables these authorities to target inflation and to increase employment. In modern economies, inflation is conventionally considered "healthy" in the range of 2%–3%. Additionally, it is designed to try to keep GDP growth at 2%–3% and the unemployment rate near the natural unemployment rate of 4%–5%. This implies that fiscal policy is used to stabilise the economy over the course of the business cycle.

Changes in the level and composition of taxation and government spending can affect macroeconomic variables, including:

In politics, hard power is the use of military and economic means to influence the behavior or interests of other political bodies. This form of political power is often aggressive (coercion), and is most immediately effective when imposed by one political body upon another of less military and/or economic power. Hard power contrasts with soft power, which comes from diplomacy, culture and history.

According to Joseph Nye, hard power involves "the ability to use the carrots and sticks of economic and military might to make others follow your will". Here, "carrots" stand for inducements such as the reduction of trade barriers, the offer of an alliance or the promise of military protection. On the other hand, "sticks" represent threats - including the use of coercive diplomacy, the threat of military intervention, or the implementation of economic sanctions. Ernest Wilson describes hard power as the capacity to coerce "another to act in ways in which that entity would not have acted otherwise".

William Whewell (/ˈhjuːəl/ HEW-əl; 24 May 1794 – 6 March 1866) was an English polymath. He was Master of Trinity College, Cambridge. In his time as a student there, he achieved distinction in both poetry and mathematics.

The breadth of Whewell's endeavours is his most remarkable feature. In a time of increasing specialisation, Whewell belonged in an earlier era when natural philosophers investigated widely. He published work in mechanics, physics, geology, astronomy, and economics, while also composing poetry, writing a Bridgewater Treatise, translating the works of Goethe, and writing sermons and theological tracts. In mathematics, Whewell introduced what is now called the Whewell equation, defining the shape of a curve without reference to an arbitrarily chosen coordinate system. He also organized thousands of volunteers internationally to study ocean tides, in what is now considered one of the first citizen science projects. He received the Royal Medal for this work in 1837.

Sciences Po (French pronunciation: [sjɑ̃s po]) or Sciences Po Paris, also known as the Paris Institute of Political Studies (French: Institut d'études politiques de Paris), is a public research university located in Paris, France, that holds the status of grande école and the legal status of grand établissement. The university's undergraduate program is taught on the Paris campus as well as on the decentralized campuses in Dijon, Le Havre, Menton, Nancy, Poitiers and Reims, each with their own academic program focused on a geopolitical part of the world. While Sciences Po historically specialized in political science, it progressively expanded to other social sciences such as economics, law, and sociology.

The school was established in 1872 by Émile Boutmy as the École libre des sciences politiques in the aftermath of the Franco-Prussian War as a private institution to form a new French elite that would be knowledgeable in political science, law and history. It was a pioneer in the emergence and development of political science as an academic field in France. Following World War II, the school was nationalized and re-established as a public institution. As of 2021, 80% of Sciences Po graduates are employed in the private sector.

Cultural imperialism (also cultural colonialism) comprises the cultural dimensions of imperialism. The word "imperialism" describes practices in which a country engages culture (language, tradition, ritual, politics, economics) to create and maintain unequal social and economic relationships among social groups. Cultural imperialism often uses wealth, media power and violence to implement the system of cultural hegemony that legitimizes imperialism.

Cultural imperialism may take various forms, such as an attitude, a formal policy, or military action—insofar as each of these reinforces the empire's cultural hegemony. Research on the topic occurs in scholarly disciplines, and is especially prevalent in communication and media studies, education, foreign policy, history, international relations, linguistics, literature, post-colonialism, science, sociology, social theory, environmentalism, and sports.

Decentralization or decentralisation is the process by which the activities of an organization, particularly those related to planning and decision-making, are distributed or delegated away from a central, authoritative location or group and given to smaller factions within it.

Concepts of decentralization have been applied to group dynamics and management science in private businesses and organizations, political science, law and public administration, technology, economics and money.

In economics, competition is a scenario where different economic firms are in contention to obtain goods that are limited by varying the elements of the marketing mix: price, product, promotion and place. In classical economic thought, competition causes commercial firms to develop new products, services and technologies, which would give consumers greater selection and better products. The greater the selection of a good is in the market, the lower prices for the products typically are, compared to what the price would be if there was no competition (monopoly) or little competition (oligopoly).

The level of competition that exists within the market is dependent on a variety of factors both on the firm/ seller side; the number of firms, barriers to entry, information, and availability/ accessibility of resources. The number of buyers within the market also factors into competition with each buyer having a willingness to pay, influencing overall demand for the product in the market.