What is Economics?
Kent dives into how economics can be used to explain our choices and decision making processes, including how criminals utilise economics when deciding between risk and reward.
Overview
Economics can be accurately defined as a study of the choices people make. Each decision we make can be analysed through the lens of a cost/benefit analysis. This can be applied to choices such as marriage and crime.
Key learning objectives:
Understanding the choices in economics
Explain the Cost/benefit analysis
Summary
Expert
Kent Matthews
Kent is an academic who has studied at several institutions including the London School of Economics and the University of Liverpool. He is now a Professor of Banking and Finance at Cardiff Business School.
