Economics is the science of choice, It is the study of how people, firms and governments make choices in the face of scarce resources. These choices can be personal (Do I go to class or not Should I eat Ramen noodles tonight or take my significant other out for a nice dinner Or should I accept a job at one firm or another ) or they can involve crucial public policy questions (Do we provide public health care Should we increase the age of Social Security eligibility Should interest rates increase ). It is a rigorous discipline, but it combines many different skills -- theory, statistics, math, history, public policy and business decisions.



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