science

Journal of Economic Literature

Journal of Economic Literature is a science topic covered in the lgStudy science library. This page brings together a partial reference excerpt, illustrations, worked examples, real-world applications and a short study plan, so you can understand Journal of Economic Literature rather than just read about it. In short: The Journal of Economic Literature is a peer-reviewed academic journal, published by the American Economic Association, that surveys the academic literature in economics. It was established by Arthur Smithies in 1963 as the Journal of Economic Abstracts, and is currently one of the highest-ranked journals in economics.

Key takeaways

Journal of Economic Literature belongs to science; place it in that map before memorising details.
Learn the definition first, then one example that makes the definition concrete.
Connect Journal of Economic Literature to a quantity you can measure, compute or draw — that is where exam questions come from.
Reproduce the core statement of Journal of Economic Literature from memory before moving on to harder problems.

Reference excerpt

The Journal of Economic Literature is a peer-reviewed academic journal, published by the American Economic Association, that surveys the academic literature in economics. It was established by Arthur Smithies in 1963 as the Journal of Economic Abstracts, and is currently one of the highest-ranked journals in economics. As a review journal, it mainly features essays and reviews of recent economic theories (as opposed to the latest research). The editor-in-chief is Steven Durlauf. In January 2022, the AEA announced that David Romer would become the editor beginning in July 2022. The journal originated a widely used classification system for publications in the field of economics.

Worked examples

Example 1 — a first encounter with Journal of Economic Literature

Start with the simplest possible case. Write down what Journal of Economic Literature claims or describes in one sentence, then invent the smallest concrete situation in which that sentence is true. In science, the smallest case is usually a single object, a single equation or a single measurement. Check that every symbol or term in your sentence has a meaning in that case.

Example 2 — changing one variable

Take the situation from Example 1 and change exactly one quantity: double it, halve it, or set it to zero. Predict what should happen to Journal of Economic Literature before you calculate. Comparing your prediction with the result is the fastest way to find out whether you understand the idea or only the words.

Example 3 — an exam-style question

Typical questions about Journal of Economic Literature ask you to (a) state it precisely, (b) apply it to given data, and (c) explain a limitation. Practise writing all three answers in under five minutes; the third part is what separates a full-mark answer from an average one.

Applications of Journal of Economic Literature

In research: Journal of Economic Literature appears in science research whenever the underlying quantities have to be modelled precisely. Papers usually cite it as a starting assumption and then explore where it breaks down.
In technology and industry: Engineering practice reuses Journal of Economic Literature in design rules, simulations and safety margins. Knowing the idea lets you read a specification sheet and understand why the numbers look the way they do.
In the classroom: Journal of Economic Literature is common in secondary-school and first-year university syllabi. It links to neighbouring topics Academic journals established in 1963, Academic journals published by learned and professional societies of the United States, American Economic Association academic journals, so understanding it makes those chapters shorter.
In everyday life: Look for Journal of Economic Literature outside the textbook — in sport, cooking, traffic, electronics or the sky above you. An example you found yourself is remembered far longer than one you were given.

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How to study Journal of Economic Literature in 20 minutes

Read the reference excerpt below once, without taking notes.
Close the page and write down what Journal of Economic Literature means in your own words.
Compare your version with the excerpt and mark what you missed.
Work through the three examples above with pen and paper.
Explain Journal of Economic Literature out loud to somebody else — or to Teacher Smith in the lgStudy chat.

Frequently asked questions

What is Journal of Economic Literature in simple terms?

Why does Journal of Economic Literature matter?

Because it connects several science ideas at once: it gives you a definition you can apply, a quantity you can calculate, and a way to check whether a result is plausible.

How should I study Journal of Economic Literature?

Read the excerpt, restate it from memory, then work through the examples and applications listed on this page. The five-step study plan above takes about twenty minutes.

What does this page cover?

It gives you a compact reference excerpt plus original lgStudy explanations, examples, applications and study material on Journal of Economic Literature.