Economics is the social science which examines and analyses all kinds of economic activity in order to understand how the processes of production, consumption, and trade function and inter-relate. Economists have a thorough understanding of the mathematics underlying the economic systems that are employed throughout the world.Economics is an extremely important discipline. Those who wish to undertake studies in the discipline must be ready for the challenge of analysing the socio-economic impact of specific economic policies in society, both regionally, nationally, and internationally.