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Economics of defense

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The Economics of Defense Cambridge Surveys of Economic Literature

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The economics of defense or defense economics is a subfield of economics, an application of the economic theory to the issues of military defense. It is a relatively new field. An early specialized work in the field is the RAND Corporation report The Economics of Defense in the Nuclear Age by Charles J. Hitch and Roland McKean . It is an economic field that studies the management of government budget and its expenditure during mainly war times, but also during peace times, and its consequences on economic growth. It thus uses macroeconomic and microeconomic tools such as game theory, comparative statistic, growth theory and econometrics.
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    • History 

    • Principles 

    • General economic theories of military spending 

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