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Current economics. 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.
Below, we’ve provided links to short articles that illustrate what economics is and how it connects to our everyday lives. 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.
In this video, we introduce the field of economics using quotes from the person that many consider to be the "father" of economics: Adam Smith. Topics include the definition of economics, microeconomics, and macroeconomics as a field and the role of assumptions in economic decisionmaking.
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 greatly impacted by how well information travels through society. Today, social media giants Twitter, Facebook, and Instagram are major forces on the information super highway. (Credit: Johan Larsson/Flickr) Chapter Objectives. In this chapter, you will learn about: What Is Economics, and Why Is It Important?
Economics is the study of how individuals and societies choose to employ those resources: what goods and services will be produced, how they will be produced, and how they will be distributed among the members of society. Economics is customarily divided into microeconomics and macroeconomics.
About this unit. Learn how different types of economies make decisions about what to produce and how to distribute resources. We'll introduce key concepts like opportunity costs, trade-offs, and production possibilities.
