Economics explores the full spectrum of issues that impact on financial situations and decisions. From production to consumption, economics looks at how the world’s resources are used by and distributed among individuals and organizations. This involves studying areas of politics, sociology, law, psychology, geography and history, at local and global levels.
The two major veins of economics are microeconomics and macroeconomics. Microeconomics looks at the behavior and interactions of individual agents, such as households, companies, buyers and sellers. Macroeconomics analyzes entire economies on a national or global scale, looking at issues such as unemployment, inflation, economic growth and monetary and fiscal policy.
