Economic schools are frameworks that help us understand how economies function and how economic policies can be shaped. They include various theories and ideas about production, consumption, and distribution of resources. Some well-known schools include Classical Economics, which emphasizes free markets, and Keynesian Economics, which focuses on government intervention to manage economic cycles. Each school offers different perspectives on issues like inflation, unemployment, and economic growth. For instance, Monetarism highlights the role of money supply in the economy, while Behavioral Economics examines how psychological factors influence economic decisions. These schools provide valuable insights for policymakers and economists.