What kind of problems do you think an economist tries to solve?

AIM: What are some of the branches of economics and how do they relate to each other?

Economics is a social science that analyzes the production, distribution, and consumption of goods and services. The basic challenge in economics is that of scarcity. We have unlimited human wants, but have limited natural resources.

Macroeconomics: addresses the larger scale economic issues at the national and international levels. These include the issues of unemployment, inflation, monetary and fiscal policy, international trade, exchange rate, the causes of recessions, and the ways to fix them. Microeconomics: deals with the economic behavior (decisions) of individual agents (such as individuals or specific firms) within the economy.

Other categories of Economics Economics also has significant overlap with other social sciences such areas of study include: Political Economics Social Economics (or Socio-economics) Economic History Economic Geography