Economics is 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 itâs not all about money. Economics is a broad discipline that helps us understand historical trends, interpret todayâs headlines, and make predictions about the coming years.
Adapted from American Economic Association. 2025. What is Economics? https://www.aeaweb.org/resources/students/what-is-economics