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This question is about what an economist does.
Economics vs. Finance
Economics is the study of local or global markets, human behavior, and goods and services, while finance focuses on everything related to the financial system.
Economics is the study of scarcity and its implications for the use of resources, production of goods and services, growth of production, and welfare over time. It also deals with a wide variety of other complex issues that are of vital concern to society. Economics is considered a social science.
Finance is concerned with the techniques and tools of making and managing money. It can also be defined as the science of managing funds while being aware of time spent, cash on hand, and the risk involved with certain financial ventures. Finance can also be considered a subset of economics.
Here are the key differences between economics and finance:
| Economics is a social science. | Finance is a subset of economics. |
| Economics is the study of local or global markets, human behavior, and goods and services. | Finance focuses on everything related to the financial system. |
| Economics deals with a wide variety of other complex issues that are of vital concern to society. | Finance is concerned with the techniques and tools of making and managing money. |
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