Economics is one social science among several and has fields bordering on other areas, including economic geography, economic history, public choice, energy economics, cultural economics, …

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 …

Aug 25, 2025 · What Is Economics? The study of economics is a social science primarily concerned with analyzing the choices that individuals, businesses, governments, and nations …

One of the fundamental principles of economics, described by Adam Smith in “The Wealth of Nations”. Work can be undertaken more efficiently if broken up into discrete tasks.

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 …

Economics is essentially the study of how we, as individuals and as a society, make decisions amidst scarcity. It focuses on how resources, which are finite and limited, are allocated to meet …

Economics is the study of how we make choices in the face of scarcity and how those choices motivate behavior. As individuals, families, and nations, we confront difficult choices about …

This is how Lionel Robbins came to define economics in the early 1930s and there is a good chance that many of you heard a variant of this definition in your first Economics 101 lecture.

Economics is a uniquely powerful analytic framework for making sense of society—particularly the trends, patterns and choices made in times of uncertainty. Our program emphasizes the …

The bachelor of arts degree in economics offers a strong, analytical major. Graduates have entered financial and management careers and have enrolled in law school or in MBA programs.