InflationIn economics, inflation is an increase in the general price level of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money. The opposite of inflation is deflation, a decrease in the general price level of goods and services. The common measure of inflation is the inflation rate, the annualized percentage change in a general price index.
Symmetry breakingIn physics, symmetry breaking is a phenomenon where a disordered but symmetric state collapses into an ordered, but less symmetric state. This collapse is often one of many possible bifurcations that a particle can take as it approaches a lower energy state. Due to the many possibilities, an observer may assume the result of the collapse to be arbitrary. This phenomenon is fundamental to quantum field theory (QFT), and further, contemporary understandings of physics.
Beta function (physics)In theoretical physics, specifically quantum field theory, a beta function, β(g), encodes the dependence of a coupling parameter, g, on the energy scale, μ, of a given physical process described by quantum field theory. It is defined as and, because of the underlying renormalization group, it has no explicit dependence on μ, so it only depends on μ implicitly through g. This dependence on the energy scale thus specified is known as the running of the coupling parameter, a fundamental feature of scale-dependence in quantum field theory, and its explicit computation is achievable through a variety of mathematical techniques.
Renormalization groupIn theoretical physics, the term renormalization group (RG) refers to a formal apparatus that allows systematic investigation of the changes of a physical system as viewed at different scales. In particle physics, it reflects the changes in the underlying force laws (codified in a quantum field theory) as the energy scale at which physical processes occur varies, energy/momentum and resolution distance scales being effectively conjugate under the uncertainty principle. A change in scale is called a scale transformation.
Primordial fluctuationsPrimordial fluctuations are density variations in the early universe which are considered the seeds of all structure in the universe. Currently, the most widely accepted explanation for their origin is in the context of cosmic inflation. According to the inflationary paradigm, the exponential growth of the scale factor during inflation caused quantum fluctuations of the inflation field to be stretched to macroscopic scales, and, upon leaving the horizon, to "freeze in".
Grand Unified TheoryIn particle physics, a Grand Unified Theory (GUT) is a model in which, at high energies, the three gauge interactions of the Standard Model comprising the electromagnetic, weak, and strong forces are merged into a single force. Although this unified force has not been directly observed, many GUT models theorize its existence. If the unification of these three interactions is possible, it raises the possibility that there was a grand unification epoch in the very early universe in which these three fundamental interactions were not yet distinct.
Standard ModelThe Standard Model of particle physics is the theory describing three of the four known fundamental forces (electromagnetic, weak and strong interactions – excluding gravity) in the universe and classifying all known elementary particles. It was developed in stages throughout the latter half of the 20th century, through the work of many scientists worldwide, with the current formulation being finalized in the mid-1970s upon experimental confirmation of the existence of quarks.
Chiral symmetry breakingIn particle physics, chiral symmetry breaking is the spontaneous symmetry breaking of a chiral symmetry – usually by a gauge theory such as quantum chromodynamics, the quantum field theory of the strong interaction. Yoichiro Nambu was awarded the 2008 Nobel prize in physics for describing this phenomenon ("for the discovery of the mechanism of spontaneous broken symmetry in subatomic physics").
Inflation targetingIn macroeconomics, inflation targeting is a monetary policy where a central bank follows an explicit target for the inflation rate for the medium-term and announces this inflation target to the public. The assumption is that the best that monetary policy can do to support long-term growth of the economy is to maintain price stability, and price stability is achieved by controlling inflation. The central bank uses interest rates as its main short-term monetary instrument.
Scale factor (cosmology)The relative expansion of the universe is parametrized by a dimensionless scale factor . Also known as the cosmic scale factor or sometimes the Robertson Walker scale factor, this is a key parameter of the Friedmann equations. In the early stages of the Big Bang, most of the energy was in the form of radiation, and that radiation was the dominant influence on the expansion of the universe. Later, with cooling from the expansion the roles of matter and radiation changed and the universe entered a matter-dominated era.
