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Economics is a social science as we know, however recently it has shown trades of a full fledged mathematical Science. Economics does not has a formally acccepted definition, probably this separates it from other sciences. The recent use of analytical and statistical methods in economics have improved the policy making and its analysis, this inadvertently has helped economics to grow as a science. Traditionally economics is divided in two major sections, one is microeconomics and second is macroeconomics. Microeconomics looks economics from the individualistic perspective like a firm, product, market, etc. It gives models which helps economists to understand how market works and how it can made more efficient so that leakages can be reduced. Its one more purpose is to understand how individuals behaves if they are offered similar products and how their choices very. Macroeconomics looks at overall economics of a nation or a community, it understands how decisions made by group of indi