Economics

Social science studying production, distribution, and consumption.

econ economic science

Economics derives from the Greek words 'oikos' (house) and 'nomos' (custom or law).

Economics helps us understand how people make choices when they have limited resources, like deciding what to buy or how businesses should operate.

Adam Smith, considered the 'father of economics,' wrote 'The Wealth of Nations' in 1776
The field of behavioral economics studies how psychological factors influence economic decisions
Game theory, a branch of economics, uses mathematical models to analyze strategic interactions

What is economics? It's the study of how people make decisions with limited resources
Who studies economics? Economists, policymakers, and business professionals
What are some economic concepts? Supply and demand, inflation, and scarcity

Social Science

Microeconomics Macroeconomics Behavioral Economics

academic discipline social science