Economics is one of the more interesting subjects in school that many students enjoy, yet it can also somehow be a dry topic for some students. It is interesting in a way that even if it’s a branch of social science, the topics under this field of social science concerns other sciences such as political science, history, natural science, and mathematics. It’s a broad field and quite admissibly, there are some topics that can get students bored while there are some topics that can get the attention of the students.
Economics is the study of how an individual, a society, a company, or a household distributes limited resources to meet the needs and wants of each one. It is a social science that involves various theories, models, and principles that have something to do with how the market process works. It tries to explain how wealth is produced and distributed in communities and how people allot scarce resources.
Economics isn’t that bad after all. Just like any other subject or course in school, it has parts that are interesting, and it also has parts that are quite boring. Here are a few good reasons why you should study economics:
1. Economics affects your personal life.
Economics is all about making decisions and being aware of the impact of our decisions in our everyday lives be it as individuals, as families, or even as small organizations or groups that are created by companies or governments. It helps us develop critical thinking and analytical skills. Simply learning about exchange rates, interest rates, equity markets, etc. and knowing how to invest and obtain mortgages is an application of economics in our personal life.
2.Economics can be fun.
Many students enjoy economics because it can be fun. It has the perfect mixture of words and numbers, essays and problems, and interpretations and calculations. It is also a combination of arts and sciences. It creates an opportunity for students to create models that give insight into the real world and then to judge the models based on their assumptions.
3.Economics can help save the world and make it a better place to live in.
Economics allows us to understand how the world works. It lets us understand and identify effects and possible unintended consequences of our decisions. It has a big impact in many of the social problems that our society is facing such as unemployment, poverty, inflation, human rights, racial and gender inequality, health care, and pollution. To come up with the best and most effective solutions for these problems, it requires rigid training in economics.
4.Studying or majoring in economics can create a lot of job opportunities for you.
Students who graduate with a major in economics possess skills that are highly valued in the job market. Their career path can be in any of the following sectors or industries such as banking, finance, insurance, real estate, manufacturing, consulting, government, non-profit organizations, services, etc. It is also notable that economics graduates usually have higher salaries or are well paid compared to graduates of other disciplines.
5.Studying economics is a perfect foundation for graduate studies.
Graduate studies such as law, economics, business, public administration, government, labor relations, diplomacy, global studies, environmental science, and health care administration compliment economics. These further studies even lead to better and more valuable job opportunities.
Economics is easy to learn compared to physics or rocket science as long as you understand the basic concepts and know how to apply these concepts in real life. Here are some tips for you to be able to catch up with your classmates in economics if you are a little bit behind compared to them or if you feel like you are losing interest in the subject:
- Just like any other field of study, you must grasp the basics of economics and understand how it works and affects our daily lives. You can never understand complex topics if you don’t understand the basics.
- Economics homework can be done much more easily if you get some homework help in economics by group studies, tutors or even online tutors.
- Check online tutorials such as Youtube, vlogs, and blogs that explain about the different concepts in economics.
- Listen to the talks and speeches of economics experts and learn a lot from them. You’ll be surprised that you will come to appreciate economics while listening to them. They serve as an inspiration and they can somehow make you understand complex concepts by breaking them down into simpler terms for you to understand them.
- Read economics articles on magazines or newspapers to further understand economic concepts.
Economics really is interesting if you just open your eyes to it and know that it explains how many things work in the world. You will realize its importance once you understand how it affects your personal life and every little group, organization, or society that you belong to. It will explain how you live your life and how you are able to survive your day to day life with the choices that you have and the decisions that you make each day. Inevitably, you can’t avoid economics. It’s everywhere around us. You just simply have to understand how it works.