economics: one picture

[waqas izhar]

generate employment, increase gdp, reduce poverty, that is the aim of an economist. two main tools to achieve that: fiscal policy and monetary policy. fiscal policy is public finance. monetary policy is money and banking. interaction with other countries generates the concept of balance of payments.
how fiscal policy and monetary policy affects consumers and producers, that is microeconomics.

sector wise; agriculture and industry go hand in hand. services sector is a new addition, and is a bonus. developing nations are agrarian societies, because of less developed industry, agriculture also suffers. more later