Economics is the social science of the production, consumption, and distribution of wealth.

Micro-economics focuses on economic agents (workers and consumers), firms, unions, and other institutions. Current schools/approaches in micro-economics include neo-classical, institutional, neo-institutional, game theory, experimental, computational, evolutionary, Marxist, feminist, Sraffian, and behavoural economics. These schools/approaches are not necessarily mutually exclusive.

Macro-economics focuses on economic aggregates and economy-wide variables such as inflation, economic growth, and unemployment. Schools of macro-economics include old Keynesian, monertarism, new classical, new Keynesian, and post-Keynesian economics. All macro-economic schools have their foundation in a theory of the micro-economy. The first four schools are rooted in neo-classical economics. Post-Keynesian economics is Keynesian economics built on an institutional/behavioral understanding of the micro-economy.