Economics is the study of how individuals, businesses, and governments allocate scarce resources to satisfy their needs and wants. It is a social science that examines decision-making, production, distribution, and consumption of goods and services.

As a course, Economics is divided into two main branches:  

1. Microeconomics – Focuses on individual markets, consumer behavior, production, pricing, and competition among firms.  

2. Macroeconomics– Deals with the overall economy, including inflation, unemployment, national income, and economic policies.  

Economics as a course involves mathematical models, statistical analysis, and theories to explain economic phenomena. It helps students develop critical thinking, problem-solving, and analytical skills, preparing them for careers in finance, business, government, research, and policy-making.