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The needs or wants of human beings are limitless yet the resources available to us are inadequate. How we manage those resources, produce more, distribute and consume them is all what we study in economics.
The field is further branched out in micro and macro economics. The former analyses the fundamental elements of economics at a limited level such as it studies the behavioral pattern of individual economic agents (like buyers, sellers or households), regional markets, etc. The latter (macroeconomics) studies the economical activities at international level. Moreover, it also studies the vital aspects that influence the economy of a country as a whole like inflation/deflation, fiscal policy, unemployment, etc.
Nevertheless, not every student has the knack for this mind-numbing subject. Hence, when they are asked to craft a finely-researched assignment on it, they get intensely terrified. The reason of their intimidation is not only the lack of interest but also the fear of absorbing the daunting concepts of economics that never made any sense to them like:
- Game theory
- Keynesian theory
- Perfect competition
- Cost curves
- Environmental economics
- International economics
- Consumer surplus
- Income growth
- Diminishing marginal utility
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