Scope-

   Department of Economics encourages students to study the concepts of economics and its application. Economics is a social science since its studies peoples’ economic behavior. It gives the solution of choices in scarcity. In the economy or in individual economic decisions resources are limited and they have multiple uses, so it is necessary to give priority and attain maximum satisfaction. It helps to take the right decision for government, firms, and individuals.

Importance –

    Economics plays a role in our everyday life. Studying economics enables us to understand past, future, and current models of economics and their application in the economy. It helps to take the proper economic decision for societies, governments, businesses, and individuals. Every person must have to know about its decision. It has a global scope of employment.  It helps society to satisfy its needs in the best way possible. Economics is all about solving the problem of scarcity. It helps to plan and taking decisions for economic development.