ELI5: Explain Like I'm 5

Economic history

Economic history is the study of how economics (the way people make, use, and trade goods and services) has changed over time. It is a branch of history that looks at how different societies have used their resources and how they have interacted with each other through markets, trade, money, and technology. Economic history also looks at how different groups of people have been affected by economics, including how their rights, opportunities, and lifestyles may have changed over time. It looks at how economic events such as wars, famines, and epidemics may have impacted those people, and countries as a whole. By looking at past economic trends and patterns, it allows us to better understand the present and prepare for the future.