Why Study Economics?

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  • Published : April 3, 2012
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Many times in life we are presented with situations that can alter the way we view things and as a result may alter our decision making process from time to time. The ever-changing global economic situation is one such factor that does affect the way people live their lives from day to day since survival has now become the order of the day. We now have to be better able to evaluate our absolute advantages versus our comparative advantages. Governments, businesses and people can no longer solely rely on the many traditional methods in trying to cope with the many complex issues that we do face in today’s world. Because of this fact, there has been an increasing demand for more professionals especially economists who are highly trained. Economists do play a significant role in helping others who aim to find solutions in dealing with the realities that are currently threatening the wellbeing of many people throughout the world. When we can fully understand and appreciate the role that each person plays within the economic system, then we will certainly have a much better appreciation of the economic process. Upon completion of my studies, I do intend to fully utilize the knowledge gained from your institution in a positive manner. It is my intention to become a lecturer of economics in some capacity and at the same time help others to better understand the many economic concepts. I do intend to offer my services in any area of government where I can make a positive contribution and I do want to explore the possibility of serving in some capacity at the World Bank. I do see that if given the opportunity to work at the World Bank, I will be more exposed to many economic models and will better understand the mechanisms that affect the different economies throughout the world. The reading and discussions of various aspects of economics is a natural occurrence for me since it does influence many of the decisions that I make in all aspects of my life. I find...
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