Top Economics Assignment Help by Remarkable Experts

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Economics is a very important subject that studies and explains how all the economic activities around the world take place. It is majorly concerned with the production, distribution and consumption of goods and services which is the basic foundation of every economic activity. Economics also studies the material prosperity of a region or a country. In other words, the focal point of economics study is the behaviour and interaction of economic agents and how economies work. Economics tries to find answers to three basic questions:

• What to produce?
• How to produce?
• For whom to produce?

Since there is a scarcity of resources like land, capital, labour and entrepreneur and human wants are unlimited, there goes a constant struggle to allocate these resources in the best possible way for their optimal utilisation. In other words, economics is a study of scarcity and choice in order to reconcile unlimited wants and limited resources. Economics’ scope ranges from very small to very large. The study of individual decisions is called microeconomics and the study of economy as a whole is called macroeconomics.

Microeconomics: it is a study of individual’s economic tendencies. It refers to the ripple effect of decisions of individuals on the economy or change in the factors of production. Under microeconomics, individuals are categorised under these groups such as buyers, sellers and business owners. These groups are responsible for creating the demand and supply for resources, and they use their money and interest rates to determine pricing mechanism for optimum coordination. Micro economics is normative science, which helps in estimating the effects of change in certain conditions. For example, if bike manufacturer decides to raise the prices of bikes, microeconomics explains the reaction of consumers towards price hike as a decrease in the demand of bikes on consumers’ part. 

Basic concepts of microeconomics:

1. Production theory- it refers to the study of production explaining how input is converted into output. Producers’ prime aim is to maximize profits by minimizing the costs. In order to achieve their goal they experiment with different combinations of inputs and methods of combining them to arrive at the best option.
2. Utility theory- It refers to the choices of consumers in the purchase and consumption of goods that will maximise their utility keeping in view the constraint of income in their hands.
3. Price theory- it refers to the study of equilibrium established by the intersection of demand and supply of individual goods. Theory of demand and supply determines the prices in competitive market. 
4. Industrial organisation and market structure- microeconomics studies the various forms of market in an economy such as perfect competition, monopoly, oligopoly etc. and explains the production and pricing of individual goods under these markets.

Macroeconomics- this branch of economics studies the economy as a whole. Such as aggregate demand and aggregate supply as against the study of demand and supply of individual goods and services in microeconomics. Macroeconomics is concerned with wide phenomena of an economy such as inflation, price level of all goods and services, economic growth rate, national income, gross domestic product and unemployment changes.  The two main topics under the study of microeconomics are long term economic growth and shorter term business cycles. Macroeconomics has following sub categories:

1. Business cycle- refers to the upward and downward movement of gross domestic product depicting its long term growth trend.
2. Economic systems- it studies the system of production, allocation of resources and distribution of various goods and services within a country.
3. Full employment- it’s study of situation where everyone who is willing to work can get work. It indicates a positive steady rate of unemployment.
4. International macroeconomics- it studies the impact of differences in production resources and consumer preferences internationally and international institutions affect them.
5. Monetary economics- it studies the different competitive theories of money.
6. Macroeconomic policy- is concerned with the study of taxes, government spending and borrowing, exchange rate determinants, monetary and credit rules.
7. Macroeconomic problems- include the study of employment and unemployment, inflation, trade cycle, stagflation, economic growth, and exchange rate and balance of payments.
8. Macroeconomic theories- are mainly concerned with the phenomena of output, unemployment and inflation.

Scholars doing Master’s or PhD in economics are required to study the aforementioned topics in depth. There are a number of assignments given to them to analyze their knowledge gained during the semesters.  At times finishing these assignments along with preparing for exams gets difficult for the students. Good news for these students is, they can easily seek online economics assignment help to not only submit the assignments on time but with the help of expert writers can score good grades in their assignments. These assignment help services recruit the team of professionals who are experienced in writing assignments and create unique content for each student. It is a very good idea to seek help from these services to get good scores.