What is Economics

Economics as a subject is to study how to locate scarce resources efficiently. Really? There are too many definitions and understanding about what Economics is about. However, back to the era of Adam Smith or even earlier, Economics was part of philosophy and the purpose of Economics was to make one's country wealthier than other countries. Nowadays Economics is about stabilizing the society by narrowing the wealth gap and mitigating economic downturn. There is never a single purpose of studying Economics. People's goals of studying Economics vary from time to time. Is there a benefit of studying a subject like this. Of course, there is. Always focusing on the most popular topic can make the subject attract people's eyes and absorb more resources from the society. However, because the goal always varies, Economics has become a "huge" subject that covers so many fields. We do not need an economist to study Economics, everyone could participate into Economics study. Recently we can see that many people who are mathematicians and psychologists have won the Nobel Economics Prizes. Economics is a combination of all studies that relate to wealth.