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economics is a specialised branch of social sciences that includes study of the current trends and critical analysis of persisting methods and practices involved in the national and international production, consumption as well as distribution of goods and services. accounting is a streamlined branch that works in close conjunction with economic studies. accounting encompasses the collection, processing, analysis and communication of financial information, pertaining to the economic aspects of individuals, business organizations and corporations. economics and accounting research includes research and study of the principles, theories, along with their application and subsequent societal impacts of current trends and adept methodology in financial accounting, auditing, tax accounting, political economy, microeconomics, macroeconomics, applied economics, heterodox economics, and economic imperialism.