What is Economics?

Economics is the study of the creation of resources and how they are consumed and transferred. The economy refers to how a country or area's wealth and resources produce, consume, and manage assets. The practices of economics help evaluate, improve and sustain the resources available.

An economist is a person who spends time evaluating the relationship between the available resources and how the different entities relate. They analyze supply and demand, risk factors, and resource value to help guide future policies on interest rates, tax laws, employment programs, international trade agreements, etc.

Many aspects of studying economics fall into two main categories: macroeconomics and microeconomics. While these categories operate under the same principles, they address economics differently.

Microeconomics analyzes economics from an individual, household, or business standpoint. It looks at how these different entities operate with increases and decreases in resources and prices. Often, microeconomics experts work to understand how and why resources are valued, the supply and demand system, and how risk plays a part in financial decision-making. Analysis of microeconomics can be used to understand and anticipate the decision-making process of these groups.

The branch of macroeconomics studies the choices and practices of the whole economy, while concentrating on elements such as foreign trade, unemployment rates, inflation, interest rates, recessions, booms, etc. Macroeconomics utilizes the economic cycle (expansion, peak, contraction, and trough) to give insight on making investments.

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Economics Topics

Agricultural Economics

Learn the definition of agricultural economics and the types of agricultural economics. Study the agricultural economy and the role of an agricultural economist.

Behavioral Economics

Learn about behavioral economics. Understand what behavioral economics is, examine the behavioral economics theory, and see examples of behavioral economics.

Demographic Economics

Learn the demographics definition in economics and understand its uses. Study the field of demographic economics, or population economics, and discover how it works.

Development Economics

Review development economics and understand how it is used. Discover the stages of development in economics and study development models in economics.

Economic History

Discover economic history. Learn the economic history definition, survey the range of topics studied in the field, and read a brief economic history of the world.

Economic Law

Learn about the law and economics, also called economic analysis of law. Explore the application of law and economics and study some examples of law and economics.

Economic Models

Learn the economic model definition and explore the uses of economic models. Study economic model examples, such as the classical model and business cycles.

Economic Policy

Explore the concept of economic policy. Learn the definition of economic policy and understand its different types. Discover various economic policy examples.

Economic Systems

What is an economic system? First, learn all about the economic system in detail. Then, understand the economic system's meaning, purpose, and functions using examples.


Learn how economists are defined and understand their role in government and more about their duties. Explore what economists do and see how to become an economist.

Environmental Economics

Learn about environmental economics and see how it is applied. Explore the environmental economics and policies used in this field with some examples of scenarios.

Home Economics

Learn the definition of home economics and understand what home economics is about. Explore the major areas of home economics, its history, and its importance.

International Economics

Learn about international economics. Identify the issues studied by international economists. Examine the organizations and agreements of the international economy.

Labor Economics

Learn about labor economics and understand how it is used. Explore how labor markets work, study examples of labor economics and see why it is important.


Understand the definition of macroeconomics and what macroeconomics focuses on. Learn the principles of macroeconomics, including economic output, economic growth, unemployment, inflation and deflation, and investment.

Mathematical and Quantitative Methods in Economics

Learn about mathematical economics and see how it is used. Explore both mathematical methods in economics and quantitative methods in economics with examples.


Learn what microeconomics is and learn the concepts related to microeconomics. Discover its definition and examples with branches and applications of microeconomics.

Public Economics

Learn what public economics is and study some of its main concepts. Explore the history of public economics and review some economic public policy examples.

Schools of Economic Thought

Learn about the schools of economic thought and understand the roles of economic thinkers. Explore the history of economic thought and the different types.

Economics Resources

Whether someone interested in studying economics is just beginning or digging deeper, Study.com has numerous resources available to delve into the various components of economics. Study's resources can help break complex concepts like trading economics and health economics into easy-to-understand, digestible pieces of information. Spend time perusing the diverse opportunities offered through supplemental resources, lesson plans, personalized tutoring, and online courses.

Economics Courses

Study.com's selection of courses addresses the core concepts of economics. Participating in these courses will provide learners with the foundational principles to build a solid understanding of the terminology and practices of economics. The Study.com courses allow learners to bolster their knowledge of basic economics as well as more complex concepts like economic theory, microeconomics, macroeconomics, and behavioral economics. Through engaging videos, activities, and supplemental materials, learners can succeed in mastering economics.

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Economics Lesson Plans for Teachers

The economic courses include lesson plan resources and activities available for teachers to assist in crafting lectures, leading exciting discussions, and creating critical thinking questions. These resources are professionally written to focus on key concepts and important dates, to provide engaging group projects, and to meet educational standards and requirements. These lessons are here as tools for teachers to supplement their current curriculum or as tools to start fresh and build new units. From economic production and growth to Adam Smith and his role in economics, the lesson plans are here to support teachers and learners with effective and engaging materials.

Lesson plans
  • Teaching Economics Lesson Plans

    Utilize Study.com's professionally written lesson plans outlining key economic ideas. Through engaging videos, lesson transcripts, study guides, games, and activities, these lessons help students learn interactively.

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Economics Homeschool Curriculum

The AP Macroeconomics homeschool curriculum is a self-paced course with engaging animations and real-life examples to help students with a variety of learning styles best understand the material. Parents can spend less time preparing lessons and will have more time to work with their students as they have access to the online dashboard to help monitor their learner's progress and check for mastery of content as their learner progresses. If questions arise when working to understand inflation measurements and rates aggregate supply and demand, this homeschool curriculum includes access to expert instructors who are prepared to help support learners with questions that come up along the way.

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Frequently Asked Questions

  • What is the basic definition of economics?

    Economics studies how resources are created, consumed, and moved between people, governments, and regions. Studying economics can help direct tax laws and government policies.

  • What are the two types of economics?

    The two primary categories for economics include microeconomics and macroeconomics. Microeconomics studies the use of resources and financial risk management from an individual or business perspective. Macroeconomics examines resources and supply and demand from governments, countries, and the global standpoint.