Programs that help to meet the economic needs of the community by helping residents prepare for, find and sustain gainful employment; providing public assistance and support for those who are eligible; ensuring that retirees, older adults, people with disabilities and other eligible individuals receive the social insurance benefits to which they are entitled; and offering temporary financial assistance for people who are experiencing an unexpected financial crisis in situations where support related to their specific circumstances is unavailable
Programs that recognize the social or civic contributions that people have made to the life of the community, congratulate them on having reached significant personal milestones, or provide opportunities for people to show their respect for their country and community.
Programs that produce statistics which relate to economic growth, regional economic development and the country’s position in the world economy. Included are such indicators as Gross Domestic Product (GDP), the Human Development Index (a measure developed by the United Nations which combines indicators of longevity, education and standard of living), employment and wage statistics, productivity measures, prices, money and security markets.
Programs that conduct research which focuses on how society distributes scarce resources such as land, labour, raw materials and machinery to produce goods and services as well as the organizational frameworks related to these processes. Economists collect and analyze data, monitor economic trends and develop forecasts; and address issues such as energy costs, inflation, interest rates, exchange rates, business cycles, taxes and employment levels. Included are microeconomists who study the supply and demand decisions of individuals and firms; industrial economists who study the market structure of particular industries in terms of the number of competitors and the market decisions of competitive firms and monopolies; macroeconomists who study historical trends in the whole economy and forecast future trends in areas such as unemployment, inflation, economic growth, productivity and investment; international economists who study international financial markets, exchange rates, and the effects of various trade policies such as tariffs; labour economists who study the supply and demand for labour and the determination of wages; public finance economists who study the supply and demand for labour and the determination of wages; and econometricians who develop and use mathematical techniques such as calculus, game theory and regression analysis to formulate economic models.
The above terms and definitions are part of the Taxonomy of Human Services, used here by permission of INFO LINE of Los Angeles: Copyright Notice.