Economics is a social and behavioral science, focusing on decision-makers’ actions in the face of various restrictions and social interactions. It covers microeconomic and macroeconomic levels and governmental policy. This discipline explains rational and irrational behaviors, incorporating principles of maximum output from fixed resources and minimum input for pre-defined outcomes. The study of economics involves sectors such as households, businesses, and government, all making decisions within a defined economy.
Tag: Economist
An Economist is an interdisciplinary scientist and practitioner in behavioral and social sciences. Economists focus on economic agents’ rational and irrational behavior and explain their decision-making processes in an economy. An interdisciplinary scientist such as an economist is a generalist connecting almost all sciences, e.g., economic data scientist, economic engineer, economic psychologist, political analyst, health economist, behavioral economist, etc.
