Feminist economics is an exciting, dynamic, multi-faceted area of economic inquiry and activism. While it has roots as far back as Charlotte Perkins Gilman in the late nineteenth century, or even earlier, it emerged recently, as a self-defining field, with the formation of the International Association for Feminist Economics (IAFFE) in 1992 (www.facstaff.bucknell.edu/jshackel/iaffe/).

While feminist economics defies easy definition, it involves the application of gender-based analysis ­ and a feminist critique of gender inequality ­ to economic theory, economic life, and policy-making. Many feminist economists fault mainstream economic analysis for being "masculinist" ­ viewing the economy from the point of view of men's experience, and defining the typical economic actor as "rational economic man." They seek to construct alternative theoretical approaches and economic concepts which include women's experience and feminine values such as caring, cooperation, and provisioning. They highlight women's disadvantaged economic position in the labor market and in the household, and analyze gender differences in occupations and earnings. Many study the topic of caring labor ­ both unpaid and paid -- and promote analyses and policies which recognize its importance to social well-being. Others study unpaid household and caring work, seeking to counterbalance its absence in mainstream economics in a variety of ways, including creating measures of its value. Some feminist economists assert that since race, class and nationality affect one's experience of gender, they too are an integral part of feminist economics. Feminist development economists study the impact of globalization on women's lives, and propose development policies which can improve women's economic well-being.

By opening up the field of economics to new theoretical approaches, concepts, and empirical questions, feminist economics has the potential not only to make economic theory and policy more relevant to women's lives, but also to help bring about more humane and caring economic institutions and relationships for everyone.