Economics is likely to be a very new subject to you, even though you will have seen or read a lot about it in the news and the media. A lot of the debate about leaving the EU centered on Economics. The textbook definition of Economics says it is about allocating scarce resources among competing uses to maximise our wellbeing; in simple terms we have to make the best use of the limited resources we have to make us as happy as we can! However, this does not do justice to the scope of the subject and what it really entails. The specification content is listed below; however, in short, if you want to know why footballers are paid so much (and why nurses appear to be paid so little) or why there was a financial crisis in 2008 or what the cost of living crisis is, then this is the subject for you.