--What+is+Economics?+AP+MICE

[|Photo_7.jpg] Economics in Action The field of Economics grew out of philosohpy, as a matter of fact the Father of Economics, Adam Smith (1723-1790), was a lecturer and chair of Logic and also Moral Philosphy at Glasgow University, Scotland. Adam Smith's most well know work, The Weath of Nations, articulates that rational self-interest in a free-market economy leads to increased economic well-being.