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MCR 001 Economics

Economics - part of social science, the purpose of which is to analyze and describe the production, distribution and consumption of wealth. In the 19th century, economics was the hobby of ordinary gentlemen and the profession of several students; economists have written articles on economic policy, but rarely asked for the opinion of legislators before making a decision. Today, virtually no government, international agency, or large commercial bank has its team of economists. Many economists around the world devote their time to teaching economics at universities and universities around the world, but most people work in various research or consulting companies, either for themselves (in economic consulting companies), or in industry or government. Others are employed in accounting, business, marketing, and business management; although they were educated as economists, their professional experience falls into other areas. This can be considered the "century of the economist," and the demand for his services seems limitless. Supply has responded to this demand: in the United States alone, about 400 higher education institutions award about 900 new doctoral degrees in economics annually.

No one has yet defined the scope of the economy. Many people agree with the famous 19th-century British economist Alfred Marshall that economics is "the study of the affairs of a person's daily life; she explores the material aspects of personal and social activities associated with achievement and happiness. " the closely related part of using necessities "- ignores the fact that sociologists, psychologists and anthropologists often study the same phenomenon. In the 20th century, British economist Lionel Robbins defined economics as "the science that defines the relationship between the study of human behaviour as a (stated) end and rare means with alternative uses."

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