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Economics is about creating good outcomes for human beings.

Economics isn't meant to explain everything, but it is good for establishing parameters, distinguishing relationships, identifying issues, clarifying options and providing an analytical framework.
Economics can establish criteria by which governmental decisions can be made.
by Leelo Dallas Multipass November 12, 2005
-A social science discipline with a contemporaneous logical framework that's based completely on the assumption that scarcity is a problem intrinsic to society. The effect of which justifies greed as a virtue.

-An institutional requirement for dime-a-dozen business majors, usu. taught by middle-aged, overly opinionated, white males in need of serious cultural experiences.

-Taught by sports coaches in high school as the study of "common sense."
Teacher: "Economics studies how a society chooses to allocate its scarce resources among alternative uses."

Student: "What if the society's resources cease to be scarce?"

Teacher: "How is that even possible?"

Student: "The society's productivity meets or exceeds the point of what it needs to sustain itself."

Teacher: "But individual material DESIRES are infinite!"

Student: "Only in a society that breeds such nonsense."
by haaaaaze September 13, 2009
A class taught to most high school students about how a society manages its scarce resources. It is comprised of a handful of mildly persuasive concepts pumped full of jargon and needlessly represented by graphs to deter intelligent people from realizing that this is not a real science.
Much like intelligent design, economics is a popular psuedo-science that intellectual humans would overlook.

The self-proclaimed “social science” contrastingly strives to ignore more of human nature every few years with a book written by a middle-aged man who realizes that he is not smart enough to discover anything new in a real science.
by Sir Heartless Bastard October 15, 2005
Shitty major. The most useful is Econ 101 which you will probably attend sometime at college. Any further study of this 'science' is a total waste of time.
No studying Economics will not help you become an investment banker.

What if I want to do a PhD. Well you will realize that you don't know enough Math to do a PhD in Economics. Go study something more interesting.
by Pepe April 08, 2004