What is economics?

Economics is the study of human choice.


Yes, that's right.  It's much broader than about money or finances.  It can include that area, and often does, but to view economics that narrowly is to limit it's usefulness.


Just consider for a moment what is involved in human choice.  I see it including other people, maybe your family, maybe your business partners, maybe your suppliers.  It can also include levels of government that play some role in how you make decisions and conduct your business.  Your choices are often complex and involve competing objectives that at times clash with each other.  How do you go about organizing all this information?  Even when you have it organized, how do you go about approaching using it to help inform your choices?


My job is to help you frame all this in a way that facilitates your decision-making.


This is what economics is fundamentally about.  There are fancier ways of saying this, and larger and broader ways of thinking about what economics is and is not.  In the end though, its about one thing - using a set of tools to help you make more effective choices.