For the reasons noted above, the discipline of economics, as it stands today, is the result of continuous developments. Most of these emerged over the last two centuries. This period witnessed a phenomenal increase in population, number of occupations and per capita income. There was a prolonged parallel development of the financial system. Consequently, the character and severity of economic issues and problems became complex. The vicious circle of this process conceived several additional issues and problems. Moreover, the nature of economic issues and problems is such that it tends to change when economists try to solve them, implying that there seldom is a situation to reach the final solution. As a consequence to the efforts which tackle economic issues, the boundaries of economics tend to expand.
In this article we will discuss Economics (Introduction-8)