What is the field of economics?
Correspondingly, what is economics as a field of study?
Economics is the study of how people behave and make decisions when there are limitations on products, goods and resources. After taking a certain number of preparatory courses at the undergraduate level, students who major in economics will often have the option of choosing a particular concentration within the field.
One may also ask, what are the methods of economics? The usual methods of scientific studies — deduction and induction, are available to the economist. Both methods come from science, viz., Logic. The deductive method involves reasoning from a few fundamental propositions, the truth of which is assumed.
Additionally, which field of economics is best?
Here are some job options to consider when you're choosing a career path with a degree in economics.
- Market Research Analyst. AndreyPopov / Getty Images.
- Economic Consultant.
- Compensation and Benefits Manager.
- Credit Analyst.
- Financial Analyst.
- Policy Analyst.
What is economics as a subject?
Jean-Baptiste Say (1803), distinguishing the subject from its public-policy uses, defines it as the science of production, distribution, and consumption of wealth. Economics is a science which studies human behaviour as a relationship between ends and scarce means which have alternative uses.