Economics is a social science that studies how our society can achieve economic goals. These goals are divided into two main areas of macroeconomics and microeconomics. Goals in macroeconomics are full employment, price stability, and economic growth. Macroeconomics uses theoretical tools, historical perspective, and modeling to understand the development and functioning of macroeconomic policy.
Macroeconomics explores how policy advocated by economist and political advisors is implemented and with what degrees of success. Microeconomic goals are maximizing individual and societies benefits using limited resources. Microeconomics uses modeling to understand how and why our resource markets work and provides insights into policies that make them more efficient.
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