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What is Economics ? The term economics was defined for the first time by the Scottish Philosopher Adam Smith as the study of the “wealth of nations”. So the subject of economics began to exist as a political economics. This was the macro view of the subject of economics gradually scholars began to study the subject in the micro level as well and Alfred Marshall defined the concept as “the study of man in the ordinary business of life”.



Economics is a social science and the term is derived from the Greek word “oikonomia”with oikos, meaning "house" and nomos, meaning "custom". It is a subject that is very vast and needs vast understanding of all the concepts in order to apply the ideas in the practical problems and understand the subject more deeply. Broadly Economics is divided into two categories: Microeconomics and

Macroeconomics.





1. Macroeconomics

This is a branch of economics that deals with the aggregate economy of the community, society or even a nation. It can be about what affects the wealth of a nation or why is there mass repetition in the nation. Macroeconomics looks at Economy broadly, for example, Gross National Product (GDP) and how it is influenced by changes in unemployment, national salary, rate of development, and price value levels.





2. Microeconomics

This branch of economics that deals with a person or individual buyer behaviour like how households spent their money or how a person spends his own wealth. Microeconomics also suggests furthermore considering regulations and taxes made by governments. It focuses on supply, demand and other powers that decide the levels of price value found in the economy. Say for instance it would look at how as a specific association could expand its production and limit so as to bring down costs and improve in its industry.

If you have any confusion about the close relationships among various fields of knowledge, acknowledge that a huge part of modern economics is attached to Mathematics, significantly game theory. Tutor Help Desk is a collection of professional economists whose expertise and technical competence has been offering outstanding leadership in economic analysis.







Economics Assignment Help Tutors

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We offer economics assignment help in the following areas of Economics:

Micro Economics

Macro Economics

Managerial Economics

International Economics

Econometrics

Public Economics

Environmental Economics

Industrial Economics

Political Economics

Health Economics

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