what is behavioral economics 
behavioral economics combines psychology judgment decision making and economics to understand human behavior branches of economic thought continue to grow and change one such example is the progressive branch of bioeconomics that models economic decisions in terms of managing resources who has influenced the study of economics in the 21st century since 2000 several economists have won the nobel prize in economics including david card for his contributions to labor economics angus deaton for his study of consumption poverty and welfare and paul krugman for his analysis of trade patterns the bottom lineeconomics is a branch of the social sciences focused on the production distribution and consumption of goods and services microeconomics is a type of economics that is concerned with the behavior of individual people and businesses while macroeconomics considers broader trends affecting nations and larger economies in the u s a number of key economic indicators including gdp and cpi are important tools for economists to measure trends and make forecasts 