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What is Economics?Find out the 'why' and shape tomorrow's society...Economics investigates human behaviour and its consequences in a world with scarce resources. Families, businesses and all of society face the same problems: so much we want to do but so little time and not enough resources. Economics is about how we choose. Economics is a way of understanding our society and community and how they interact to form “The Economy”. It offers insight into the ways in which businesses are structured and compete, and the ways in which people interact and make decisions. Economics considers the criteria we use to meet these challenges by considering costs and benefits and how to measure them. Economics provides a framework for decision making and is also about how to design institutions that help us make decisions and ensure that our decisions are 'good' from a social viewpoint. An economist examines the role of markets in making decisions, when and how markets are regulated and the role of the government. An economist addresses issues such as:
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