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Economics is about choice and is at the heart of all decision-making. Individuals, businesses and governments are all faced with making choices in situations where resources are scarce. As a result, Economics is applicable in a wide range of fields, including business, finance, administration, law, local and national government and, indeed, most aspects of everyday life. Economics is a field of growing importance as preparation for both a variety of careers and programs of advanced study. The discipline occupies a strategic place among the social sciences, and is important to the study of the humanities as well. Many careers which require the understanding and analysis of contemporary events will also be enhanced by the study of economics. These include such professions as law, journalism, public policy, diplomacy, education, environmental science, medical administration, and international affairs. Economics provides a better understanding of the economic and public policy environment in which virtually every profession will be pursued. Hence, economics courses should be an integral part of any undergraduate course of study.

www.TheEconomist.in is an effort to facilitate the students as well as common people to studying economics or practicing economic theories in real life on different socio-economic aspects of practical life.

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