Introduction to Economics

Economics is the social science that studies how individuals, businesses, governments, and societies allocate limited resources to satisfy unlimited wants and needs. At its core, economics examines the production, distribution, exchange, and consumption of goods and services through two primary lenses: microeconomics, which focuses on individual markets, consumer behaviour, and firm decisions; and macroeconomics, which analyzes economy- wide phenomena like inflation, unemployment, economic growth, and monetary/fiscal policies.

The discipline combines theoretical models with empirical analysis, employing tools from mathematics, statistics, and data science to test hypotheses and measure economic relationships. Our comprehensive program covers fundamental principles including market equilibrium, price mechanisms, national income accounting, and international trade, while also exploring pressing contemporary issues like income inequality, climate change economics, digital currencies, and the impacts of globalization. Students engage with both classical economic theories from thinkers like Adam Smith and John Maynard Keynes, as well as cutting-edge modern developments in behavioral economics and game theory.

The program prepares graduates for diverse career paths in banking and finance, government policymaking, international organizations, economic research, and business strategy and at the same time develop critical thinking skills. In today's interconnected world, the study of economics provides essential tools for understanding complex global challenges and making informed decisions that shape our collective economic future.