Economics

This chapter provides a small insight into the role economists can play in developing practical solutions to crime and examining the efficiency or marginal costs and benefits of policy alternatives or prevention efforts. It presents a few areas which may be of interest and omitted the important contribution that economists can play with regards to the development and testing of both old and new or developing theories. The chapter discusses a few areas in which economists can contribute with respect to modern econometric and other applied analytical methods and their detailed knowledge of both licit and illicit markets. Economics arose from the need to address scarcity. Since resources are limited, economics strives to make the best use of what is available. Economics is one of the few social sciences that control a major branch of government policy or for that matter has a dedicated office within government.