In its most simple and concise definition, economics is the study of how society uses its limited resources. Economics is a social science that deals with the production, distribution, and consumption of goods and services. Macroeconomics – the branch of economics that studies the overall working of a national economy
University of Nairobi | SCHOOL OF ECONOMICS
Kenyatta University – School of Economics
University of Embu Economics Department
Why do we study economics?
Economics is the study of how societies use scarce resources to produce valuable commodities and distribute them among different people. … Indeed, economics is an important subject because of the fact of scarcity and the desire for efficiency.
Should I study economics?
Students who choose to study economics not only gain the skills needed to understand complex markets, but come away with strong analytical and problem-solving skills, as well as business acumen necessary to succeed in the professional world.
What do you study in economics?
Economics majors have also generally studied demand theory and estimation, production and cost theory, analysis of market structure, antitrust policy, government regulation of business, capital budgeting, inflation theory, unemployment, the determination of interest rates, and international economics