MODERN TRENDS IN THE STUDY OF ECONOMIC THEORY

Аннотация

Economic theory is a general economic and theoretical science that studies the principles, concepts and principles of economic development. Economic theory is called "Economics", "Economics" and "Political Economy" in foreign countries, and "Economic Theory" in the CIS. Economic theory studies economics in general and applied to each economic system, analyzes economic events at the micro and macro levels, as well as at the level of the world economy. In Uzbekistan, this subject is studied in schools as "Fundamentals of Economic Knowledge", in colleges and academic lyceums as "Fundamentals of Economics" and in higher education institutions as "Economic Theory". Key words. Fundamentals of Economic Knowledge, economic Theory, General economic concepts. The subject of economic theory is the behavior of people to meet their needs on the basis of alternative management in the conditions of limited economic resources, the economic conditions that determine them. This science studies the economic behavior of business entities (firms, households, individuals and the state) as a whole. His research interests include economic phenomena in production, exchange, distribution, and consumption. Natural conditions are the climate, the structure of the soil, the amount of mineral resources, the flora and fauna, the ability of people to work, all of which affect economic activity. Economic theory studies its subject using a number of methodological principles: the integrity of all economic phenomena, the formation of an economic system, in which each of them has its place, they interact; considers economic reality not in a rigid way, but in development and renewal, taking into account the fact that one reality is replaced by another, that form takes on new content in old events; draws attention to the fact that human economic activity is affected not only by the economy, but also by the laws of nature. Nature can exist without a human society, but society cannot exist outside of nature because it is related to the use of natural resources, nature is the material basis of the economy; changes in the economy go much faster than changes in nature, so the laws of economic development are constantly 88 Scientific research results in pandemic conditions (COVID-19) changing; natural phenomena occur spontaneously without human participation, economic phenomena occur through human activity, but this activity is required by objective conditions; Although economic theory does not directly study technology, it does not bypass its impact on the economy, but rather takes it into account. It theoretically substantiates the economic boundaries of whether or not to introduce technology; studies the economy not in its pure form, but taking into account the influence of socio-political, spiritual, moral, national- democratic factors on it. The economy is a part of social life, so society is also affected by it. Although economic theory does not study politics, it deals with its impact on the economy because a properly chosen policy has a positive effect on the economy and vice versa. A policy that takes into account the economic situation, the application of laws in this situation, and, consequently, the existence of economic necessity, measures to address it, has an active impact on economic development. In this sense, economics can be considered the scientific basis of politics. When economic theory studies various phenomena and processes in economics, they are interpreted scientifically at the level of concepts. Economic concepts are theoretical knowledge used in the study of economics, they are a scientific expression of real economic reality. They are studied in 2 groups: General economic concepts are concepts specific to all stages of economic development, for example: labor, production, product, labor, resource, etc. Some socio-economic system-specific concepts, such as money, demand, supply, valuation, credit, emissions, inflation, are specific to some systems. Economic theory describes economic laws based on the generalization of the characteristics of economic processes and events. The most basic method of analysis of economic theory is to draw conclusions based on abstraction. The authors of "Economics" in the West, R. McConnell and L. Brew writes that theory is not a laboratory science. Therefore, the method of scientific abstraction plays a key role in the theory. This method is the analysis of economic phenomena in a way that excludes the transient, secondary facts that affect them, to generalize theoretically, to draw scientific conclusions. This method allows to know the nature of economic phenomena, to reveal their specific laws. In the study of economic knowledge and theories in Western Europe and many developed countries, R. McConnell and L. Brue's Economics-1 and Economics-2 are used as textbooks, with the first book focusing on the theoretical foundations of microeconomics, the second on the analysis of macroeconomic conce