The branch of knowledge is concerned with the production, consumption, and transfer of wealth.
Economics as a social science studies how individuals, governments, firms, and nations make choices on allocating scarce resources to satisfy their unlimited wants. Economics can generally be broken down into macroeconomics, which concentrates on the behavior of the whole economy and microeconomics, which focuses on individual consumers.
To win a game you must understand its rules, know the objectives of the other players and learn some strategies to help you. At Levels 1, 2 and 3 Economics students focus on the competition between consumers, producers and governments and the strategies they employ to ensure resources are allocated efficiently around the economy.