Economics can be defined as “a social science concerned chiefly with the description and analysis of the production, distribution, and consumption of goods and services”. Study of the economics mainly includes a number of different types of economic issues and the policies. These economic issues are considered important to study as they affect the social environment of the society. Apart from that, these issues and policies build up the concept of the social economics. Most of the students of the humanities as well as the commerce stream, take up economics in higher education as it is quite an interesting subject to study. All the students pursuing economics are assigned with different economics homework as well as assignment topics, which most of them fail to do due to various reasons. Such students look for online help with economics homework from various help providing websites. NeedAssignmentHelp is the paramount online help providing website which is known to provide economics homework help from a long time.

Main branches of economics

The discipline of economics is subdivided into two broad categories, which are described in the below section. NeedAssignmentHelp provides economics assignment help to the students in both of the below-mentioned branches: -

1. Microeconomics – the part of the economic policies that mainly deal with the behaviour of the units of the economics individually is known as the microeconomics. As it mainly aims at determining the individual price of the good or the service, hence, it is also known as the price theory. Some of the main concepts dealing with the microeconomics are specialization, production cost and efficiency, firms, supply and demand etc.
2. Macroeconomics – this particular part of the economic policies mainly deal with the behaviour of the aggregates of the economy. The macroeconomics is also referred to as the income theory. The main aim of the income theory is to determine the employment level as the income of the economy. The major topics that are covered under economics are the unemployment, inflation, business cycle etc. It basically works towards the social economic.

Types of economic model

A theoretical construction which represents the economic processes with the help of a set of variables is generally termed as an economic model. There are a number of different types of economic models some of which are mentioned below: -

• Stochastic models – these particular types of models basically use the stochastic processes. They are known to model in an economic format having values that are observable over time. It is basically dependent on the statistics as well as the test hypothesis.
• Non-stochastic models – the stochastic models of economics are one of the most important types of models. They may be completely quantitative or may be completely qualitative. For these types of models, most of the economists use the two-dimensional
• Qualitative models – almost all kinds of economics models are qualitative. But most of the qualitative models are not precise.

Some topics related to the economics

Below mentioned are some of the main topics that build up the entire discipline of economics.

• Inflation – when there is an increase in the price of some specific products and decrease in the supply of the same products, then this particular condition is known as inflation.
• Price elasticity – the particular condition in which there is some stability in the price, or when there is some deviation in the price or the quantity that is supplied to the citizens, is generally called as the price elasticity. It leads to various economic issues.
• Equilibrium of the demand and the supply – when the demand for a particular product is equal to the supply of the same product, then the condition is said to be an equilibrium of demand and the supply. It basically leads to better utilization of the economic resources.
• Public economics – the analysis of the policies of the government in relation to the economics is generally called as the public economics.
• Exchange rate – it is basically the rate at which a particular currency changes into another.

Problems faced by students in economics

Economics as a subject possesses an interdisciplinary approach. It makes use of disciplines such as the mathematics, statistics etc. most of the students that are weak in mathematics or statistics face problems in solving the economics assignments and homework. Apart from that economics is an extremely vast subject having a number of economic issues and policies, 51 topics are made compulsory by the government of the US and likewise, in many other countries, some or the other economic policies are compulsory to study. Hence, it creates a kind of burden on most of the students which is very difficult for most of them to handle. Hence, the students rely on the economic assignment help services of the online helping websites. Most of the students that lack a proper understanding of the subject or the university guidelines also require online economics homework help. NeedAssignmentHelp is the premium help providing website which provides the students with the finest economics homework help.