What is economics?

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. It often involves topics like wealth and finance, but it's not all about money. Economics is a broad discipline that helps us understand historical trends, interpret today's headlines, and make predictions about the coming years.

What do economists do?

Economists have all kinds of jobs, such as professors, government advisors, consultants, and private sector employees. Using theoretical models or empirical data, they evaluate programs, study human behavior, and explain social phenomena. And, their contributions inform everything from public policy to household decisions.

Economics intersects many disciplines. Its applications include health, gender, the environment, education, and immigration.

Why should I care about economics?

Economics affects everyone's lives. Learning about economic concepts can help you to understand the news, make financial decisions, shape public policy, and see the world in a new way.

From the American Economic Association