Economics is the study of how people, businesses, societies and nations manage and allocate scarce resources such as land, labour or capital. Economics affects most areas of our lives, whether it's the availability of goods and services or governments regulating our economic activities.
Our research includes the use of mathematical models to predict how people make decisions and laboratory experiments to test our predictions. We also use econometric methods to analyse field data to understand, for example, what determines the efficiency of energy production or how the economy reacts to events such as the 2008 financial crisis.
We use insights from our research to suggest how governments could better regulate the use of natural resources or risk taking by banks, develop more effective monetary policies (such as interest rate changes), and legislate to influence people’s economic decisions and improve the overall economic outcome.
Explore our Economics areas of expertise
We examine how economics influences the preservation and sustainability of natural resources such as aquatic ecosystems.
We investigate how psychological, emotional and social factors affect economic decision-making.
Through our research in this area, we're identifying inefficiency and its causes in specific sectors.