Economics
Introductory Discussion
What is Economics
Social Science, studies the interaction of agents in the market.
Uses empirical models to evaluate an economic phenomenon or make an
abstract of the real world.
Uses graphs to explain economic phenomenon.
The study of how society choses to allocate its scarce resources to the
production of goods and services in order to satisfy unlimited wants.
Economics as a social science
Study the behavior of consumers and producers, and other agents in the
economy.
Forecasts and analyze the effects of government interventions or policies
Investigate the factors that are involve to an outcome in the market or other
economic issues.
Evaluates the social benefits of human activities to the society
Microeconomics
Focuses in the analysis of supply and demand.
Understand the factors affecting prices and quantities of production
The market equilibrium
Price elasticity of demand and supply
Consumer choice theory
The production cost
Macroeconomics
Studies the economy as whole or at a higher lens than microeconomics.
Analyze the Gross Domestic Products
Introductory Discussion
What is Economics
Social Science, studies the interaction of agents in the market.
Uses empirical models to evaluate an economic phenomenon or make an
abstract of the real world.
Uses graphs to explain economic phenomenon.
The study of how society choses to allocate its scarce resources to the
production of goods and services in order to satisfy unlimited wants.
Economics as a social science
Study the behavior of consumers and producers, and other agents in the
economy.
Forecasts and analyze the effects of government interventions or policies
Investigate the factors that are involve to an outcome in the market or other
economic issues.
Evaluates the social benefits of human activities to the society
Microeconomics
Focuses in the analysis of supply and demand.
Understand the factors affecting prices and quantities of production
The market equilibrium
Price elasticity of demand and supply
Consumer choice theory
The production cost
Macroeconomics
Studies the economy as whole or at a higher lens than microeconomics.
Analyze the Gross Domestic Products
