Why Study Economics?

January 20th, 2014 | by EditorOne
Why Study Economics?

Globalization is not a new process and we cannot hesitate on that regardless of the economic dynamics that occurs in our local, national and international markets. However, it should be noted that the economy as a modern science is vital in order to understand the general context paper.

Thus, any degree in economics at any university in the world is necessary in order to understand the resource allocation, the income distribution, the market movements and the micro and macro dynamics of a company, a business or even a country.

According to Stiglitz (2006), consumer preferences vary: when going to the supermarket, decisions regarding the budget constraint of a “property” owned by the individual, since economics help you maximize and / or minimize its utility for the purpose of having the ability to analyse situations that allow the same in detail to optimise their resources in order to support the food and / or entertainment.

Accordingly, it is considered that the career of economics provides tools that allow those who want to study it, to have the capacity for abstraction and analysis to facilitate problem solving and decision making in any context.

Moreover, the economy unlike the other races is considered universal, since as pure sciences like mathematics, have the same teaching and applicability in all countries, what changes are the models but the economy as such does not have that because the instruction in economics is homogeneous and universal.

According to Krugman novel (2011), the international economy is what allows countries to exchange products in the international market, agreeing that the development of the Gross Domestic Product of countries need togrow,in order to purchase goods and exchange them, so there is where those who study economics come to provide information that is given on the basis of prices, inflation, employment, economic growth by analysing the above macroeconomic variables.

Economy’s career serves in order to become an adviser, analyst, company worker, manager, politician, merchant and broker in the stock exchange, which is why it explains the importance of it. However, it should be noted that the race has great breadth,by saying that whoever develops skills while studying, should be specialised in something career specific, where you can find the greatest strengths.

Some analysts and academics often claim that the economists do not transmitvery clear ideas to ordinary citizens so they sometimes use technical language, since they have dynamics in the teaching career and they illustrate how an economist mode expresses what they have learned.

Therefore, we can say that studying economics discipline gives us both qualitative and quantitative troubleshooting tools , even if you answer “no I will study economics” as the first thing you think it is about knowing numbers  that sneaky , I was not good at school , so I do not feel able to study numbers in the soup ” will put you down.  However, let me tell the truth, if you study economics it will make you understand the world in a different way.