Economics of Happiness as an Academic Research Discipline

The article contains a review of the contemporary research in the field of economics of happiness. Economics of happiness deals with correlation between the subjective notion of well-being and happiness with one’s life (happiness level) and economic indicators. The author considers the correlation of economic and noneconomic factors. The last ones — such as education and health — also affect the level of happiness. The author dwells upon the following questions: research methodology in economics of happiness, correlation between subjective notion of well-being and happiness with one’s life and economic performance on micro- and macrolevels.