Economics is a social science that is all about how the world works. To be more specific, it’s about how the world manages and uses resources, from housing to plain-old cash. The study of it usually involves a mixture of graphs, business strategy, sociology, and more. It’s a subject that encompasses what it’s like to live in human society and requires a very analytical mind.
So, why should you study it? If you are on the fence about applying to an economics program, here are the reasons you should go ahead and send the application.
It’s Interesting
One of the best things about studying economics is that it’s genuinely interesting. It’s about the world around you, after all. It’s not all about how money is distributed, either (although that is important), it’s also about how to use resources for the benefit of society as a whole.
By learning various graphs, historical knowledge, and current market trends, you can come to your own conclusions. By the time you finish the program, you will know far more than the average Joe about social structures and how the world works. Better yet, you’ll be able to apply that knowledge in your chosen career.
If that sounds like a subject that interests you, first learn the difference between applied economics and economics. From there, you can find the right program for you.
To Gain Important Skills
It’s not just about the knowledge you attain, but it’s also about the skills you acquire along the way, and when it comes to economics, the skills you learn are extremely desirable. These skills include mathematics, communication, problem-solving, analytics, and critical thinking – all traits that are highly sought-after by employers.
The Range of Potential Careers
As an economics graduate, your career choices aren’t slim. There are plenty of career paths that will allow you to use your newfound knowledge in economics. That includes (but is not limited to):
. Economist
. Market Research Analyst
. Accountant
. Statistician
. Educator
. Management Consultant
. Financial Planner
. Supply Chain Analyst
Whether you want to go into finance, marketing, politics, or something else entirely, studying an economics program will give you the head start you need.
You’ll Become a Better Spender
What you learn in your program will also help you in your day-to-day life, particularly with spending. You’ll be able to analyze your own finances and make better decisions when it comes to investing. One part of economics is ‘willingness to pay,’ which essentially means how much you are willing to pay for a product, service, or investment. After studying economics, you will know your limit, reducing poor financial decisions on your part.
To Help Change the World
A big goal in economics is equilibrium. While that might seem a little far-fetched, every step you take to become a better economist is a step in the right direction. It’s a subject that, when used correctly, can help you make the world a better place.