The study of Economics can easily be rigorous and broad. It is to the benefit of the student that he or she be as self-critical as possible because it can be the most exacting of social sciences. The study should be both theoretical and empirical. It should include Economic Theory, Quantitative Methods, Policy Debates, Assessments, and socio-political events around the world.

Some approaches to the Study of Economics could include:

  • Neo-Classical Economic Theory
  • Modern quantitative Methods
  • Analysis of Statistics
  • Evaluation
  • Assessments
  • Health Economics
  • Labor and Human Resources
  • Industrial Economics
  • Applied Macronomics


One of the goals of the study of Economics or one of the desired outcomes would be to design and carry out research designed to determine how resources are used to create and distribute commodities; to study income producing activities on an individual basis, a social basis, a national basis, and a global basis.

Some additional concentrations in the study could be

  • Employment and Labor Relations,
  • Industrial Relations,
  • the study of Collective Bargaining, and
  • The study of econometrics.


These studies can have applicability to employment in Universities, Corporations, Financial Institutions, or Government Agencies for students who are looking for career opportunities.

The study of Economics can have applicability to large metropolitan cities, with large industrial bases, large corporations, strong unions, creative economic planning, and government agencies, urban and labor oriented economies, business, government, and/or trade unions.

Students who take up this study should have a background in Microeconomics, Macroeconomics, Statistics, and Higher Mathematics.


Economics is said to be the “oldest of arts; newest of sciences. It is said to be the “Queen of Social Sciences.”

Adam Smith, who wrote “The Wealth of a Nation” in 1776 described the dialectic of Poverty, and the development of Affluence.

We all have a personal stake in the Study of Economics. What is called self-interest/common-interest indicates a relationship to the study of Micro-Economics/Macro-Economics. For example, we all pay or should pay taxes, home ownership provides the foundation of the nation, we are all affected by the way our governments are run on a federal, state and municipal level.

We all are involved in the struggle of the Haves and the Have Nots. Ideally there should be a flow down from the higher income brackets to the lower income brackets through everything from corporate giving to charity, to tithing. We all have a stake in the study of Economics and we all can and do contribute in the creation and distribution of commodities.

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