whats is economics
What is economics? Economics can help us answer these questions. Below, we’ve provided links to short articles that illustrate what economics is and how it connects to our everyday lives. Economics can be defined in a few different ways. It’s the study of scarcity, the study of how people use resources and respond to incentives, or the study of decision-making. It often involves topics like wealth and finance, but it’s not all about money. Economics is a broad discipline that helps us understand historical trends , interpret today’s headlines , and make predictions about the coming years. Economics ranges from the very small to the very large. The study of individual decisions is called microeconomics . The study of the economy as a whole is called macroeconomics . A microeconomist might focus on families’ medical debt , whereas a macroeconomist might focus on sovereign debt . What do economists do? Economists ha...