Economics deals with the study of various activities of man directed towards acquisition of wealth and earning of money. In our country we have very old economic traditions. It was about 500 B.C. that Kautilya, the famous Indian thinker wrote the book Arthshastra. Since then, a tremendous change has been occurred in economics and it has gone much away from the old tradition of economics. In its present the economics of the day may be considered as the boon of British Rule in India. It was through the contact of the Indian life with that of European world brought the subject of economics to the Indian education. Economics now forms an integral part of our educational system. It is beyond doubt that the knowledge of economics has a practical utility for the knowledge of civics, history, geography and other social sciences. A study of economics provides us the knowledge of various resources and their practical utility. Knowledge of economics has been used in making various new inventions and discoveries. Study of economics helps us to know about various gains and losses.
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