Economics is the science that deals with the activities the provides an insight into the processes that govern the production, distribution and consumption of goods and services in an economy. Moreover,economics is not just restricted to the policies related to the economy,but it is utilized in many other sectors, such as , health, education, political and much more. There are two major subdisciplines of economics.
Macroeconomics: It is the branch dealing with the macro factors that individuals in the nation can understand.For example,Inflation,unemployment and per capita income leaves a direct impact on the people of the country. Apart from the basic concepts there are few frameworks and models associated with macro.
Microeconomics: It is the second major subdiscipline that deals with the resource allocation, planning of national economic policy,demand and supply management and much more.Game theory is one of the concepts employed by economists to get to the solution of many crisis.
Apart from these two areas, there are few newly emerged branches such as econometrics, international economics, managerial economics and much more.However,these branche are directly or indirectly connected with the two major subdisciplines of economics.For further assistance,you can use economics assignment help offered by the UK experts.
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