Economics is the study of how best to satisfy the wants and desires of all people given the limited resources available to us on this Earth. It concerns the wealth of nations, its origins in production and exchange, its allocation among competing uses, its distribution among individuals, its accumulation or decline. The approach is descriptive and analytical; many issues of national and international policy are considered; the focus is on social institutions and social outcomes rather than on personal financial success per se.
Pitzer Advisers: M. Federman, E. Stephens, L. Yamane.
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