Economics is the study of how individuals, businesses, governments, and societies allocate scarce resources to meet their needs and wants. As a course, it covers key concepts such as demand and supply, production, consumption, inflation, unemployment, international trade, and economic growth. Students learn both theoretical and applied economics—microeconomics (individual and business decisions) and macroeconomics (national and global economies). The course equips graduates with analytical, quantitative, and critical thinking skills useful in careers in finance, policy-making, research, and business.