Economics

Economics is the study of how societies allocate scarce resources among competing uses. It

delves into the production, distribution, and consumption of goods and services, aiming to

understand and explain how economies function and how economic agents make decisions.

Microeconomics examines the behavior of individual consumers, firms, and markets. It studies

supply and demand in individual markets, the factors influencing consumer choices, and how firms

decide on production, pricing, and other factors.

Macroeconomics analyzes the economy as a whole. It addresses issues like unemployment,

inflation, and economic growth, and studies the effects of monetary and fiscal policies.

Macroeconomics provides a big-picture perspective on the economy's performance and its

determinants.

International economics explores how countries interact economically. It delves into topics like

trade, exchange rates, and how capital and investments move across borders. This field examines

the benefits and challenges of globalization and how national policies can affect international

economic relations.
 Economic policies are strategies or principles adopted by governments to manage the economy.

These can include monetary policies (controlling the money supply and interest rates) and fiscal

policies (government spending and taxation). These policies aim to stabilize the economy, control

inflation, and promote growth.