{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,3,31]],"date-time":"2026-03-31T08:35:51Z","timestamp":1774946151554,"version":"3.50.1"},"reference-count":29,"publisher":"MDPI AG","issue":"11","license":[{"start":{"date-parts":[[2024,5,22]],"date-time":"2024-05-22T00:00:00Z","timestamp":1716336000000},"content-version":"vor","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0\/"}],"funder":[{"name":"FCT\u2014Funda\u00e7\u00e3o para a Ci\u00eancia e a Tecnologia","award":["UIDB\/00481\/2020"],"award-info":[{"award-number":["UIDB\/00481\/2020"]}]},{"name":"FCT\u2014Funda\u00e7\u00e3o para a Ci\u00eancia e a Tecnologia","award":["CENTRO-01-0145-FEDER-022083"],"award-info":[{"award-number":["CENTRO-01-0145-FEDER-022083"]}]},{"name":"European Regional Development Fund","award":["UIDB\/00481\/2020"],"award-info":[{"award-number":["UIDB\/00481\/2020"]}]},{"name":"European Regional Development Fund","award":["CENTRO-01-0145-FEDER-022083"],"award-info":[{"award-number":["CENTRO-01-0145-FEDER-022083"]}]}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["Energies"],"abstract":"<jats:p>Based on Thermodynamics and its well-established First and Second Laws, this work presents and explores their economics counterparts, introducing new concepts, variables, and equations. This includes, among others, the economic counterparts of temperature, reversibility and irreversibility, and entropy and entropy generation resulting from economic irreversibility. The meaning of the new concepts, variables, equations, and their messages are introduced and discussed considering simple yet relevant economic processes. The economic counterparts of the First and Second Law balance equations are set in addition to the base concepts and Laws. These are effective and valuable tools for the analysis of economic processes. Observations from selected economic activities are analyzed using the new concepts, variables, and equations.<\/jats:p>","DOI":"10.3390\/en17112478","type":"journal-article","created":{"date-parts":[[2024,5,22]],"date-time":"2024-05-22T06:54:09Z","timestamp":1716360849000},"page":"2478","update-policy":"https:\/\/doi.org\/10.3390\/mdpi_crossmark_policy","source":"Crossref","is-referenced-by-count":3,"title":["Looking at Economics through the Eyes of Thermodynamics"],"prefix":"10.3390","volume":"17","author":[{"ORCID":"https:\/\/orcid.org\/0000-0003-4975-6055","authenticated-orcid":false,"given":"V\u00edtor A. F.","family":"Costa","sequence":"first","affiliation":[{"name":"TEMA\u2014Centro de Tecnologia Mec\u00e2nica e Automa\u00e7\u00e3o, Departamento de Engenharia Mec\u00e2nica, Universidade de Aveiro, Campus Universit\u00e1rio de Santiago, 3810-193 Aveiro, Portugal"}]}],"member":"1968","published-online":{"date-parts":[[2024,5,22]]},"reference":[{"key":"ref_1","unstructured":"Moran, M.J., Shapiro, H.N., Boettner, D.D., and Bailey, M.B. (2014). Fundamentals of Engineering Thermodynamics, Wiley. [8th ed.]."},{"key":"ref_2","unstructured":"\u00c7engel, Y.A., and Boles, M.A. (2015). Thermodynamics\u2014An Engineering Approach, McGraw-Hill. [8th ed.]."},{"key":"ref_3","doi-asserted-by":"crossref","unstructured":"Bejan, A. (2016). Advanced Engineering Thermodynamics, Wiley. [4th ed.].","DOI":"10.1002\/9781119245964"},{"key":"ref_4","unstructured":"Samuelson, P.A., and Nordhaus, W.D. (2010). Economics, McGraw-Hill. [19th ed.]."},{"key":"ref_5","unstructured":"Krugman, P., and Wells, R. (2015). 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