Because we live in an economy it is important to study economics, simply because economics affects everyone. We are part of an economics system, where every day we engage in economic activities. This excess of wants over what can actually be produced with the limited resources, brings about the basic economic problem of scarcity. It helps us when making such choices, from the businesses trying to make a profit to the consumers seeking to get more for less and the government trying to obtain welfare for its citizens. Economics helps us when making decisions about the allocation of such scarce resources so as to best satisfy the needs and wants of individual within an economy.
I Want to Pursue a Career in Economics
Why Do You Think It Is Important to Study Economics? Assignment free sample
Everyone knows that choosing subjects in the final years at school is very important. For a start, you want the best chance of the right grades so that top universities will offer you places. Secondly, you want subjects that interest you. Thirdly, your final years at school serve as a trial period for your future studies: you want subjects that let you explore what you might do at university. The abundance of choices makes the whole process a very daunting prospect. So, if you have not yet chosen your subjects, here are some reasons why studying Economics at school may be a good idea. Many people think they can do only either science or art.
Why I Want to Study Economics
The study of economics helps people understand the world around them. It enables people to understand people, businesses, markets and governments, and therefore better respond to the threats and opportunities that emerge when things change. Economics majors are well-positioned in an ever-changing world because they have problem solving and analytical skills that allow them to succeed in variety of career paths—law, risk management, actuary, finance, foreign affairs, public administration, politics, policy analysis, health administration, entrepreneurship, market analysis, journalism, and unknown careers of the future.
Economics is best defined as the study of how societies, businesses, individuals, households, and governments deploy scarce resources to cater to human needs. There are two major reasons why studying economics is important. One reason is to enhance comprehension of economic phenomena, as well as, enjoy the involved rigorous reasoning. The second reason is to venture into a lucrative career. Students that excel in economic studies have brighter career prospects and academic success.