What is Economics??

What is Economics ? Is it the way to conduct a business? Is it the way to estimate the financial markets? Is it the way to profitability? As many of us assume, Economics is not a finance related activity or business related activity. It deals with man, his interests and the ways to explain his decisions. I came across an interesting article on Economics at http://www.econlib.org/library/Columns/y2007/Robertsopportunitycost.html.

It is an interesting article and as I am reading Freaconomics, i feel relieved. Previously Economics sounded like an alien thing or frightenin thing to me..I used to think that I should have a PhD to understand economics. But Thanx to the books and articles that are available over net, I am able to get a grasp f these things. Ofcourse, I may not be able to explain the supply-demand curves..but the thought process behind the analysis I can see from these resources.

In Freconomics, we come across various examples that explain the rationality with good examples..Did u ever thought that crime will come down today because of the rise of abortions and legalising abortion 2 decades ago? may not right..Thats what the Freak thinks in Freaconomics. It makes a good reading as it don't ponder over the classical stuff but it takes examples and discerns the causes..After all Economics is about the theory of choosing the best from the available and making the most of it with rational thinking..And there is no place for Assumptions..Only facts will explain..