Construction projects paid for by the government. These can include both new construction and improvements to roads, bridges, schools, hospitals, government offices, and publicly owned housing. There is normally a large programme of public works in progress. An increase in the programme is a possible means of stimulating the economy during slumps. Owing to the need for detailed planning, and delays in obtaining planning permission, preparing new projects mostly takes too long for them to be suitable as counter-cyclical measures, but it is ususally possible to bring forward the timing of projects which have already been approved.

• signalling
• significance, tests of
• silicon valley
• simple interest
• simulation
• simultaneous equations
• sine
• single currency
• Single European Act, 1986
• single market
• single-peaked preferences
• SITC
• size distribution of firms
• skewness
• skilled work
• skills
• slack
• slavery
• slump
• Slutsky equation
• Smithsonian Agreement
• Smithsonian parities
• smog
• Smoot-Hawley Tariff Act
• snake in the tunnel