Learn what economics is, how it studies the allocation of scarce resources, and what are the main branches and indicators of the field. Explore the role of economists, the types of economic systems, and the impact of economics on other fields.

Learn all about the fields of economics, microeconomics, macroeconomics, finance, and capital markets with hundreds of videos, articles, and practice exercises. Content in this domain covers courses from high school to college and beyond.

economics, social science that seeks to analyze and describe the production, distribution, and consumption of wealth. In the 19th century economics was the hobby of gentlemen of leisure and the vocation of a few academics; economists wrote about economic policy but were rarely consulted by legislators before decisions were made.

Economics is not primarily a collection of facts to memorize, although there are plenty of important concepts to learn. Instead, think of economics as a collection of questions to answer or puzzles to work. Most importantly, economics provides the tools to solve those puzzles.

Economics is the study of how people use resources and respond to incentives. Learn about economics concepts, topics, careers, and resources from the AEA.

Learn about economics, a social science that studies the production, distribution, and consumption of goods and services. Explore the basics of macroeconomics and microeconomics, the four basic concepts of economics, and the key terms and topics in economics.

A concept that helps to explain international trade. If country A is better at making toasters than country B, and B is better at making kettles than A, it makes sense for each country to focus on...

Define economics. Explain the concepts of scarcity and opportunity cost and how they relate to the definition of economics. Understand the three fundamental economic questions: What should be produced? How should goods and services be produced? For whom should goods and services be produced?

transcript. Nobel Economics Prize Shared Among Three Daron Acemoglu, Simon Johnson and James Robinson received the prize for their work on explaining inequality between countries.