What is Economics?

What is Economics?

Kent Matthews

35 years: Professor in economics & finance

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.

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.

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What is Economics?

14 mins 35 secs

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

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Summary
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Expert
Kent Matthews

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.

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