Economics is a social science that deals with the production, use, and transfer of wealth.

It concerns issues that impact on financial situations and examines the distribution of wealth amongst organizations and individuals. Also, 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.

The study of economics develops a wide range of analytical and critical thinking skills, which opens up many diverse career opportunities. Economic analysis hones your skills at both understandings and influencing today’s policy debates.

A bachelor’s degree in economics prepares you for a career in not just business, banking, government, and financial transactions, but also areas such as urban planning, international development, policy analysis, journalism, education, and the non-profit sector.