Welcom to economics

Economics has been recognized as a special area of study for over a century. Virtually all four-year colleges offer courses in economics and most allow students to major in the subject. Economists maintain high profiles in governments and they have been well-represented among the highest appointees in the federal government of the United States. The press reports on their doings and sayings, sometimes with praise and admiration, sometimes with ridicule and scorn. Economics and economists are words that almost everyone has heard of and uses. But what exactly is economics? Very few people can give a good definition or description of what this field of study is all about.