General Economics

General Economics

The word 'economics' comes from two Greek words, 'eco' meaning home and 'nomos' meaning accounts. The subject has developed from being about how to keep the family accounts into the wide-ranging subject of today.

Economics has grown in scope, very slowly up to the 19th century, but at an accelerating rate ever since. Today it has many of the features of a language. It has linguistic roots, grammatical rules, good and bad constructions, dialects and a wide vocabulary which grows and changes over time. You may already have studied economics and there is the danger that the language that you learnt has changed, so be careful! Also, there are different ways of learning economics.

Defining economics

One of the founding fathers of economics, Alfred Marshall, advised as follows:

Every short statement about economics is misleading (with the possible exception of my present one).

Nevertheless, definitions are a useful place to begin. A standard definition of economics could describe it as:

a social science directed at the satisfaction of needs and wants through the allocation of scarce resources which have alternative uses

Course Duration

1Year

Course Duration

1Year

Lectures Duration

2

Lectures Duration

2

Job Opportunities

Yes

Job Opportunities

Yes