Economics consists of the study of how societies produce to meet their needs: of what is produced by what means and in what quantities. Economics considers how products are used and distributed, and the resulting processes of economic growth and change.  An understanding of these processes is of value to all those (for instance, politicians, trade unions, businesses) who wish to understand, forecast and influence economic developments and policies at either aggregate levels or at the level of individual markets.

Courses in economics, therefore, include the study of theoretical models of economic processes, of the statistical methods used to analyse economic data and prepare economic forecasts of markets for economic institutions such as industrial firms and banks. Economic theory is also used in developing policies for taxation, natural resources and environment, financial markets and international economy.

Graduates in economics have made successful careers as professional economists required in business, the media, government and education. Many graduates enter related fields, i.e. finance, marketing and accounting, where the economist's approach to problem solving is invaluable.