COMPUTER IN ECONOMICS SUBJECT
1.0. INTRODUCTION Economics is the social science that analyzes the production, distribution, and consumption of goods and services. Political economy was the earlier name for the subject, but economists in the late 19th century suggested "economics" as a shorter term for "economic science" that also avoided a narrow political-interest connotation and as similar in form to "mathematics", "ethics", and so forth. Everyone is a part of economy and everyone uses the rules of economy too. From the time we are born, we become consumers of various products and services (say, medical services, baby foods, and so on). We grow and diversify to attain various different roles as producers, traders, mediators and agents. Today’s world is that of “economic imperialism”, where economical factors, most importantly, money dictates all the elements of the society, not to forget close family relations. With recession wreaking havoc, economics is something which even ignorant households are learning. Economics is a science which deals with production, distribution and consumption of goods and services. Therefore, we can conclude that whatever involves “transfer of money” includes “economics”. There are two schools of economics, namely, microeconomics and macroeconomics. The combined results of these two determine the actual effect of economics on people. To list all the important functions of economics would be literary impossible as newer issues keep creeping up. In the following lines, we have described some broad and basic functions of economics.