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Reasons for Studying Economics

Reasons for Studying Economics

REASONS FOR STUDYING ECONOMICS Economics is the study of how societies, governments, businesses, households, and individuals allocate their scarce resources. Studying economics provides valuable knowledge for making decisions in everyday life. It offers information with which to approach...

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REASONS FOR STUDYING ECONOMICS

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Economics is the study of how societies, governments, businesses, households, and individuals allocate their scarce resources. Studying economics provides valuable knowledge for making decisions in everyday life. It offers information with which to approach questions about the interest of a particular financial investment opportunity.

Learning about Economics enables students to become critical consumers of statistically based arguments about numerous public and private issues rather than passive recipients unable to go through the statistics. Such knowledge enables us to ask what the suggestion on the appeal of a particular policy, medical procedure, claims about the likely future path of the economy.

Skills that are obtained from studying Economics include:

●strong background in microeconomic and macroeconomic theory

●knowledge about economic institutions

●knowledge in various applied areas of economics

●ability to use the analytical tools of economics in problem solving

●knowledge of relevant mathematical and statistical techniques

●expertise in the use of computers for the analysis of data

The economics major prepares students for careers in the banking, insurance, service and manufacturing firms, real estate, consulting, government agencies, and non-profit organizations as well as proving an excellent foundation for students who intend to continue their studies beyond the bachelor’s degree.

 

 

 


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