Economics is the social science analyzing distribution, productivity, and consumption of goods and services. Economics contains two dimensions, microeconomics and macroeconomics. Microeconomics looks upon basic elements in the economy. This includes companies, consumers, buyers and sellers. Macroeconomics deals with the factors affecting the entire economy which are unemployment, inflation, economic growth, and monetary and fiscal policy. Economics explain how economies work and how its agents interact. Its analysis is applied throughout finance and government, in society, business, crime, health, social institutions and science. The expanding domain of economics in the social sciences is described as economic imperialism.

Economics vary in different regions, countries or continents. The white

Race which is also known as Europeans tend to have a better economic status, the Asians follow in the economic list then the Africans finish the list.


  • Race and gender- in a number of ways this can be used to determine the economic well-being. From the quote ‘struggle is for the fittest’, gender has made bigger differences in level of economic status in the world. Race and gender may fall into economic discrimination due to the differences brought.

Racism has been a component of racial discrimination due to dislike of another’s religion, nationality or ethnicity. In most parts of the world, women are held to lower pay, lower positions and restricted opportunities of land ownership or economic incentive to enter businesses or entrepreneurship. This influence the level of well-being since women is discriminated. Minority owned businesses are discriminated both from banks and suppliers or capital financing. Women are starting businesses at rates three times faster than all other businesses. Once in businesses, their growth lags behind all other firms according to a multi-year study conducted by the centre for women’s business research exploring the impact.

Economic levels are observed due to difference in economic development in different parts of the globe. Race has been a common factor in the so called world market in many years. Some economists have tried to change the discrimination but have not succeeded. The Europeans have better levels of production hence got a quality economy.

  • Wage discrimination- this is brought about when black men and women are exploited. They suffer from decreased wage earnings from same jobs with the same performance levels and responsibilities as white men.
  • Hiring discrimination- They also suffer from this since the whites are given advantage and hired faster than the black men. The Asians follow the suit since their economy is better than that of Africans. They are business minded and tend to work hard in order to improve their economic status.
  • Lack of ideas- In Africa, many people prefers white collar jobs due to their previous colonization. They tend to be self-employed but their idea is not well attained due to lack of enough capital. Other jobs preferred include; management, accounting, secretarial and businesses.

Initially, during colonization, the whites thought that Africans were good in hard Labor. This made some Europeans to exploit many Africans in their satisfaction of their business objectives. This effect pulled down some African economies since they were relying on the whites. In Africa earnings vary depending on class and type of work. Rich people participate fully in the development of the economy. They are followed swiftly by the middle class then pulled down by the poor. General workers are employed without a college, high school and primary certificates in Africa.

According to the U.s census, African-Americans refer to descendants of west or central African slaves and free people of color who survived the slavery era. These are not the sons and daughters of black immigrants who lack that ancestry.


         In general, race and gender has influenced the levels of economic in the world. This is brought about by differences such as wage and hiring discrimination. Women are also discriminated thus tend to be below men in the level of the economy in the world.