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Definition
The study of the production and consumption of goods and the transfer of wealth to produce and obtain those goods. Economics explains how people interact within markets to get what they want or accomplish certain goals. Since economics is a driving force of human interaction, studying it often reveals why people and governments behave in
particular ways. – whatiseconomics.org

What they do 

Economists study the ways a society uses scarce resources such as land, labor, raw materials, and machinery to produce goods and services. They analyse the costs and benefits of distributing and consuming these goods and services. Economists conduct research, collect and analyse data, monitor economic trends, and develop forecasts. Their research might focus on topics such as energy costs, inflation, interest rates, or employment. Most economists are concerned with practical applications of economic policy in a particular area, such as finance, labour, or agriculture. – 2.yk.psu.eduTo the auditor, the glass is twice as big as it needs to be.

…the master-economist must possess a rare combination of gifts. (S)he must be mathematician, historian, statesman, philosopher—in some degree. (S)he must understand symbols and speak in words. (S)he must contemplate the particular in terms of the general and touch abstract and concrete in the same flight of thought. – John Maynard Keynes

When America sneezes, the rest of the world catches a cold.

School Subjects: 
Mathematics
Language of Learning and Teaching

  • DID YOU KNOW?South Africa is the only African country that is a member of the G20?
  • South Africa ranked 52nd out of 144 countries in the World Economic Forum’s
  • Global Competitiveness Report 2012/13, down from 50th in 2011/12.
    South Africa’s debt to GDP ratio is 32% (USA 100%, Japan 200%, and UK 90%). The World Bank recommends a ratio of 60%.

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