Ekonomikoje

Ekonomikoje is the locative form in Lithuanian used to refer to the field of economics. The discipline studies how societies allocate scarce resources to produce and distribute goods and services to satisfy human needs. It analyzes decisions made by individuals, firms, and governments, and how markets, institutions, and policy shape economic outcomes.

Economics is typically divided into microeconomics and macroeconomics. Microeconomics focuses on the behavior of households and firms, price formation, and resource allocation in individual markets. Macroeconomics examines economy-wide aggregates such as gross domestic product, inflation, unemployment, and the effects of monetary and fiscal policy. Economists use theoretical models and empirical methods to explain incentives, information, and institutions and to forecast the impact of policy changes.

Subfields include econometrics, development economics, international economics, public economics, behavioral economics, environmental economics, and health economics. These areas apply economic reasoning to real-world problems, informing business strategy, public policy, and international relations. Data analysis and statistical methods are essential tools in this work, used to test hypotheses and evaluate policy outcomes.

Historically, economics has evolved from classical and neoclassical theories toward Keynesian, monetarist, and institutional perspectives, with recent approaches emphasizing behavioral and experimental methods. Despite methodological shifts, the field provides a common framework for understanding how incentives, information, and institutions shape welfare and growth.