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grants economics (H3)<br />A type of economics examining both twoway transfers (exchanges) and one-way transfers (grants). To understand grants is to be able to comprehend the nature of much of fiscal policy, as it is concerned with providing TRANSFER INCOMES for persons who exchange nothing for them, and of expenditure programmes which create social goods. This type of economics is also useful in the analysis of international aid.<br /><em>Reference</em><br />Boulding, K.E. (1973) The Economy of Love and Fear: A Preface to Grants Economics, Belmont, CA: Praeger.
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<strong>Three times rule</strong> – The federal requirement that no single installment of a graduated or income-sensitive repayment schedule may be more than three times greater than any other installment.
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<strong>Non-term-based institution</strong> – A school that measures its academic year in credit or clock hours rather than academic terms such as quarters or semesters.
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