The study of economics in terms of commerce and manufacturers, emergence of economics , the history of economics and its significance of iterating the methodology infused by many economists have influenced a greater part in creating a developed economy and democratic government today have been summarised. The present era of economic development in the context of Wealth of Nation and The Moral Sentiments by Adam Smith, the perceptions related to formation of law, rules and regulations to abide by the humans for their own security and well being, factors directing towards emergence of globalisation in 18th century with ethics for trade, business management, invisible hand, division of labours, socio political economy and occurrence of capitalism has been visualised in this report