there is microeconomics, macroeconomics, managerial economics, financial economics, social economics, legal economics, neuroeconomics and econometrics just to name a few! Behavioral economics is a fairly new facet of economics that focuses on the psychological and emotional side. In the past, even though economics was broken into two divisions: positive and normative (allowing for a more subjective approach), behavioral economics mainly focuses on the analytical dimension to things. It aims to justify why consumers make the decisions they do. The quantitative element is still evident, but the qualitative approach is much greater with this side of economics.