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Key Concepts and Methods:
Economic Models: Simplified representations of real-world economic relationships and behaviors.
Economic Indicators: Metrics used to assess economic performance and trends (e.g., GDP growth rate, inflation rate, unemployment rate).
Economic Policy Analysis: Evaluation of policies to achieve economic objectives like stable prices, full employment, and economic growth.
Econometric Methods: Statistical techniques used to analyze economic data and test economic theories.
Game Theory: Study of strategic decision-making in competitive situations.
Behavioral Economics: Integration of psychological insights into economic theory to explain economic decision-making.
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