Economics is an important discipline and field of study. There are myriad of topics covered under the umbrella of Economics. Being an Economics Major, I have realized the fact that studying Economics as a subject is important to gain an insight into the economic and social status of the countries, organizations, and individual people. Microeconomic analysis, for example, concerns the effects of changes in the price of gasoline relative to other energy sources. It examines the effects of new taxes on a specific product or specific industry. The ...