An introduction to economics.

Economics provides us with frameworks for examining a wide variety of real life problems and issues, and tools to measure and assess what will happen under different circumstances.

Economic frameworks can help us devise the best – most efficient – way of achieving an objective, given limited resources such as funds, time and people. These frameworks can be applied to government policy as well as to the business world. Economic frameworks can complement analysis in other disciplines, such as law, sociology and geography.

Economic tools help us examine the effects and implications of decisions. Economists frequently use statistical analysis. For example, the impacts of social policies may be broken down and analysed by population sub-groups such as ethnicity, gender, age and geographic region. Economists also make use of mathematical tools and procedures to estimate and project the likely effects of decisions.

At NZIER, our economists apply economic frameworks and tools to a wide variety of situations, for a diverse range of clients.

Find out more about our consulting work and forecasting services.

The following articles explain in brief some common economic concepts.

Find out more about:

• What is Economics?
• Key Principles of Economics
• Econometrics explained
• Economic data
• Gross Domestic Product
• Inflation
• The labour market

Or check our:

• Services to Schools
• Glossary of economic terms

See also:

• Useful website links