I welcome all interested members of this tread and would be members into the world of economics!
You will fined this tread more interesting and much rewarding, all your past difficulty wil be no where to be found as we move from topic to topic!
Finally, i am Emmanuel Matthew, an undergraduate of Economics, University of Calabar, my facebook user name is "Jepsy50"
once again, i welcome you all.

<b>WHAT IS ECONOMICS?</b>

There is no way we can understand a subject except we know what it is all about, we can obtain a knowledge of a subject through what we call DEFINITION.

Definition Of Economics
Economics has been defined by different economist in different ways but we will briefly look at the definition of Five major economist which are:
1. Adam Smith
2. John Maynard Keyn
3. Alfred Marshal
4. John Staut Mill
5. Lionel Robbin
this will be discuss in my next post.

PLEASE NOTE: An economist is a person who has At least A Master Degree in the field of Economics.

ADAM SMITH
He defined economics as an ENQUIRY into the NATURE and CAUSES of Wealth of Nations.

JOHN MAYNARD KEYN
He defined economics as those HUMAN ACTIVITIES that is directed towards the CREATION, APPROPRIATION and ACCUMULATION of WEALTH, which are in line with custom and institution of the state.

ALFRED MARTIAL
He defined economics as the study of MANKIND in the ORDINARY BUSINESS of LIFE.

JOHN STAUT MILL
He defined economics as a science of CREATION and DISTRIBUTION of WEALTH.

LIONEL ROBBIN
He defined economics as a SOCIAL SCIENCE which study HUMAN BEHAVIOUR as a relationship between END and SCARCE MEANS which has ALTERNATIVE use.
(this is the most accepted definition of economics)

NOTE: You have to be able to defind it according to each of the economist above, so spend some time and commit it into your memory.

BRIEF HISTORY OF ECONOMICS

The field of economics came into being in 1776 following the first publication in this field by ADAM SMITH in a book he tittled "An Enquiry Into The Nature and Causes of Wealth of Nations".
For this reason, ADAM SMITH is called the FATHER OF ECONOMICS.

Any question so far?

ANALYSIS OF LIONEL ROBBIN DEFINITION OF ECONOMICS

In Robbins definition of economics above, we will look at the terms in capital letters, because they are the first reasons we learn economics.
1. SOCIAL SCIENCE
2. HUMAN BEHAVIOUR
3. END
4. SCARCE MEANS
5. ALTERNATIVE USES.

We will dicuss this in my next post.