Economics: an Introduction:-

Economics is basically one of the branch of social science which deals with goods, services, marketing, and taxation etc. it actually involves production, distribution, and pricing of goods and services along with profit and losses. However, the main function of economics is to study how any nation or any organization utilizes its limited resources to attain maximum profits. It determines principles, models, and theories to deal with the working of market process for consumer satisfaction.

Economics is actually studied of the behavioral pattern of any individual. It itself is very vast subject and we understand completing assignments, models, thesis writing help on any topic related to economics is quite difficult. So, students here are we from BookMyEssay through Economics assignment writing to help you out with different topics related to various divisions of economics.

Prominent Divisions of Economics:

  • Microeconomics: it actually relates on a small scale which investigates performance and behavior of an organization or a consumer in an economy. It covers only a part of the economy instead of the whole which includes market failure, production, cost and efficiency, supply and demand, uncertainty and game theory etc.
  • Macroeconomics: it refers to the division of economics which deals with performance and behavior of the whole economy i.e. on a big scale as the name explains itself. It covers basically business cycle, unemployment, inflation and monetary policies, GDP’s, etc. it basically ignores individual welfare in this division.
  • Theoretical economics: it refers to the theoretical analysis of economic problems to provide a better The theoreticians are actually researchers who perform research and development on various models with different strategies and hypothesis and provide the one conclusion to apply for a better result.
  • Adaptive economics: it deals with the applied division of economics which actually apply and adapt the theories and strategies provided by analysists to solve specific problems with specific principles and models, it covers the study of saving, investing and risk, labor and demographic economics, health and education and welfare economics.
  • International economics: it refers to the goods and services flows across the international boundaries to study about its demand, supply and profits attained from trade for economic growth of any country and also lead to globalization.
  • Developmental economics: it mainly includes strategies followed by any developing country for its development focusing on its critical issues like poverty, structural change etc includes social and political factors.

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