Skip to Main Content

Economics and the Economy

Learn about Economics and the Economy

Decorative word cloud made of up terms and concepts used in economicsEconomics is the "study of how human beings allocate scarce resources to produce various commodities and how those commodities are distributed for consumption among the people in society (see distribution). The essence of economics lies in the fact that resources are scarce, or at least limited, and that not all human needs and desires can be met. How to distribute these resources in the most efficient and equitable way is a principal concern of economists."

"economics." The Columbia Encyclopedia. New York: Columbia University Press, 2008. Credo Reference. Web. 02 February 2012.

What is Economics? 

Learn more by watching the videos here.

Make an economic decision when you weigh the Costs and Benefits. 
Is a 3 minute video from Duke University or a 12 minute video from Crash Course worth your time?

Length: 3:35
Length: 12:08

Background information about Economics and the Economy

Use these online books to find background information on topics in Economics.

Background information provides basic facts, history, descriptions and concepts about your topic
Use only the information that you find useful in starting your research. You can often find search terms in background essays that will help you search and find articles for your paper or presentation.