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Business News- Read Latest Financial news, Stock/Share Market News, Economy News, Business News on The Economic Times. Find IPO Analysis, Mutual Browse Economics courses and specializations. Economics courses explore how individuals and groups manage resources and react to scarcity. Subtopics Define economics: a social science concerned chiefly with description and analysis of the production, distribution, and — economics in a sentence. 11 hours ago Global economic recovery may not last, warns IMF Business live Richard Thaler wins 2017 Nobel prize in economics – as it happened. Economics is a discipline that can help us answer these questions. Economics can actually be defined a few different ways: it's the study of scarcity, the study of how people use resources, or the study of decision-making. Pioneer of behavioural economics is best known for 'nudge' theory, which has influenced politicians and policymakers. Tracing the qualitative and quantitative effects of variables that change supply and demand, whether in the short or long run, is a standard exercise in applied economics. Economic theory may also specify conditions such that supply and demand through the market is an efficient mechanism for allocating resources. The 2017 Nobel prizesThe Nobel in economics rewards a pioneer of “nudges”. Richard Thaler becomes one of very few behavioural economists to receive the The Economist offers authoritative insight and opinion on international news, politics, business, finance, science, technology and the connections between them.

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