Academic Economics

Academic economics is the study of how people, businesses, and governments make choices about using limited resources to meet their needs and wants. It involves analyzing markets, prices, and economic policies to understand the factors that influence economic well-being and growth. Economists develop theories and use data to explain past behaviors and predict future trends, helping society make informed decisions. This discipline combines theoretical models with empirical research to address issues like inflation, unemployment, trade, and development, ultimately aiming to improve economic outcomes and social welfare.