Economics

At its core, economics is the study of reasoned choice in the context of scarce resources and competing interests. The need to make such choices pervades the day-to-day lives of all of us as individuals and of society as a whole. Along with the study of decision-making and the interactions between the associated individuals, economics examines many important social problems such as health care, pollution, resource depletion, poverty, social assistance and the tax system. In addition to being applied to the problems of society, economics is applied in many business fields including labour relations, banking and financial markets and international trade and finance.

Field of study: Economics, General