MET: Nature of Economics Definition

 Dr. J.N Keynes was not far wrong when he said that

"political economics is said to have strangled itself with definition."

there are therefore, economists like Richard Jones and Comte who would do away with the definition altogether. Pareto thinks it  

"a waste of time to investigate what it (Economics phenomenon) may be."

According to Mydral

"Economics is the only term regarding the precise definition of which the economists need not be concerned."

Chapter 1: Price Theory OR Micro Economics

Four major parts of Price thoery:
1) Definition: Nature of economics
2) Nature of Economics Scope and Method
3) Partial Equilibrium and General Equilibrium Analysis
4) Statics Dynamics and comparative statics

In next post define all the parts.