Economics is a social science, which studies the production, distribution, and consumption of services and goods. The two main branches of economics are macroeconomics and microeconomics:
Macroeconomics looks at the behavior and performance of an economy, as a whole. It focuses on the aggregate changes in the economy such as growth rate, gross domestic product, unemployment, and inflation.
Microeconomics looks at the behavior of how individuals, groups and businesses make decisions at the small scale, including topics such as: marginal utility and demand; diminishing returns and supply; elasticity of demand and supply; market structures; role of prices and profits in determining resource allocation.