English Study

Why is the study of economics important?

Posted on: January 14, 2009

Many benefits can be gained from studying economics. First, economics deals with vital current problems such as inflation, unemployment, monopply, economic growth, pollution and poverty. Economics is a problem-oriented social science, and the problems with which it is especially concerned are among the most disturbing of our age. They fill our newspapers and pervade ou politics. We like to be knowledgeable about a part of society that so many feel is important. Not only is economics relevant to the big problems of society, but it also relates to personal problems – wages, unemployment, the cost of living, taxes and so on.

Second, the accomplishments of economics have established it as the most successful social science. For examples, yours is the first generation never to have experienced a major depression. No other social science has had equivalent success in applying reason to the shaping of humanity’s destiny. Our nation has a Council of Economic Advisers; no such pernament agency exists for any other social science. In addition, in January of every year The Economic Report of the President is presented to Congress.


8 Responses to "Why is the study of economics important?"

this is not enough info!!

yep, i’ve just posted part of the article 😛 you are so sensitive, great!

Economics isn’t important to study. Having a general understanding of economics functions and how shocks affect things like emplayment, pay and prices is good to have but University level economics is pretty unimportant.

i guess the study of economics is important

Economics is vital in our living , it helps us in solving economic problems. For instance,we’re in a budget , so in order to get this budget we must get some tips from learning economics , (identifying needs from wants) which is NEEDS -needs immediate attention and WANTS-needs or things that can be inferred .By doing this , we could budget wisely .

yes it is important to the extent that economics is an accurate predictor of curative measure for ailing economy or predictive way to improve the economy

economics is one of the social sciences that deals with scarcity and choice. the problem of humanity has always been that its wants are too many while the means of satisfying them have been limited or insaitable.

I want to knw all about economics

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Words of the day

1. Accomplishment (n): = Achievement.
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