Economics is as old as the human race: it is probably the first art which man acquired.Economics is as old as the human race.Economics is a comprehensive theory of how society works.Any definition should take account of the guiding idea in economics which is scarcity.Thus we have another characteristic of economics: it is concerned with choice.What from is academic discipline old as the human race?When was published the first major book on economics Adam Smith’s?The first major book on economics Adam Smith’s was published in 1776.Economics as academic discipline.There is an economic aspect to almost any topic we care to mention of education.