Economics is the branch of knowledge which studies about the production of goods and services, their consumption, and transfer of wealth incurred to produce and obtain them. It explains how individual or group of individual act or interact in the existing market to fulfill their necessities and accomplish desired goals. Human interaction is the driving force of economics. Studying the course often reveals the behavior and intervention of government in particular situations.
Economics can be studied in two levels – micro and macro. Microeconomics is concerned with the study of single factors and the influence of individual decision. And, macroeconomics is concerned with the study of large-scale economic factors like national productivity, interest rates, etc. Both the studies contribute to a prosperous economic industry.