Role of Economics

Slide 1 Role of Economics

Everyday life is influenced by economics. Having a background in economics helps us comprehend and apply concepts from the past and the present.

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Slide 2 Defining Economics

We must first define economics if we appreciate the value of economics education.

The definition of economics in the Collins English Dictionary is: "the study of the organization of money, industry, and commerce in society." If you are stuck with your assignments, you can now hire an expert from economics assignment help online.

Slide 3 Types of Economics

There are two major types of economics- Microeconomics and Macroeconomics Microeconomics- Microeconomics is the study of the choices made by the smallest units of an economy, such as an individual, a home, a company or organization, or even an entire country.

Macroeconomics- national and international economic data & variables are heavily aggregated in macroeconomics to understand better how a whole economy functions. While it might have a narrow geographic emphasis on a nation or area, it can also include the whole globe. Recurring economic cycles and wide development and economic growth are the core focus of this research.

Slide 4 Theories of Economics

There are a wide variety of economics specializations you may pursue. At both macroeconomic and microeconomic levels, they may be seen in many ways.

Economic systems may be divided into the following categories: ●

Traditional Market ● Command ● Mixed ●

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Slide 5 Importance of economics

1. Informs decision 2. Impact industries 3. International perspective 4. Influence everything 5. Inspires business success

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