We study Economics because;

• Economics teaches consumers how to make rational decisions in the use of scarce resources to satisfy unlimited or endless ones.
• It provides a guide to individuals, firms and government in the allocation of scarce economic resources.
• It gives us guidance to self employment.
• It provides students with basic skills of analyzing economic problems and designing solutions there by preparing them for the job market.
• It helps to solve the basic economic problems of what to produce, how to produce, when to produce and for whom to produce.
• It helps the government to know how to solve economic problems. Economists are behind almost every successful economic policies of the government. For example; inflation, balanced of payment deficit (B.P), unemployment.

Economics as a Science

Economics is described as a science because it uses scientific method or experiment to establish economic theories.

It is a social science because it deals with human behavior. Unlike other social sciences (sociology, ethics, philosophy etc…) which are involved in man and his environment, Economics concentrates on a particular aspect of human behavior. That is choosing between alternatives in order to get maximum satisfaction from the limited resources.