Which field of economics born in the last 40 years, excluding the ecological one of Georgescu?

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Mohamed EL-Shimy

IMHO, the actuarial science is among the most salient economic fields. A brief overview is available at,

https://en.m.wikipedia.org/wiki/Actuarial_science

Sudhanshu K Mishra

Quite a few. One of them is Agent based Computational Economics. It is based on simulation of computer-generated 'agents' with certain 'attributes' interacting with other agents in the framework of certain rules. Then, at a large scale 'emergence', 'points of attraction' etc are studied.

Another is Evolutionary Economics that is based on the theory of biological evolution or evolutionary biology. It takes a lot from Richard Dawkins' The Selfish Gene. It also proposes 'Mesoeconomics' in between Microeconomics and Macroeconomics. This course I promoted and taught for the first time in India at North-Eastern Hill University, Shillong. After I retired, the course was dropped from the MA syllabus since none was ready to teach the course.

Behavioural Economics, a little older, is attractive. So is the Experimental Economics. Econophysics is another, that tries to study nonlinear dynamics and 'far from equilibrium' systems. Fractal algebra is entering into economics very fast.

One of the greatest challenge faced by economics is the problem of aggregation - how micro-economic scenario takes a macro shape. A correct type of mathematics is not coming up.