I noticed that nowadays, a lot of teenagers decide to study economics or something related to that at university, but I idon't think that all of them really understand what it actually means and what they are going to study. Today’s article is going to bring a bit of light for those who are curious about this subject from my point of view.
I’m going to study management & artificial intelligence as my bachelor's degree, so a part of my future degree is related to economics. I think that a lot of future students likeme pick this area because of a personal advantage as well. Let me explain: in school we are not taught how money works or what adulthood responsibilities really look like, and I strongly believe that this subject makes you understand how the world works, which is very important.
Also, this field offers a lot of future job opportunities, such as finance, management, business, or sales, which is a high importance factor to take into consideration when choosing your degree.
Economics is the study of the production, distribution, and consumption of wealth in human society, but this perspective is only one among many different definitions.
Economics has two big categories: microeconomics andmacroeconomics.
Microeconomics refers to analysing a small part of the economy, while macroeconomics analyses ”the big picture’’,it is considered as a whole.
”Or, to be more technical, microeconomics is about the money you don’t have, and macroeconomics is about money the government is out of.”
Now that you somehow understand what economics means, I’d like to talk about what category economy should be put into. Most of us know that economics is considered a social study, but I don’t totally agree with this. I believe that economics is the perfect mix of human sciences and exact sciences. Usually, social studies such as philosophy or psychology are the type of areas that are usually based on statements that are mostly discussed and analysed without the need of a logical thinking. Economics is also based on statements and obviously has some rules that should be followed so that everything works, but I think that if you are interested in studying economics, you should know that you will work with a lot of numbers and calculations and a mathematical and logical thinking are very important in order to pursue a succesfull career in the future.
As an end, I would like to say that economics is a complex area and is important to understand what it really means before you can totally decide if it’s suitable for you or not.
Now, I am curious about your opinion, is economics a social study or not?
Bibliography:
Beggs, Jodi. (2023, April 5). Microeconomics Vs. Macroeconomics. Retrieved from https://www.thoughtco.com/microeconomics-versus-macroeconomics-1147004
Beggs, Jodi. (2021, February 16). Economics for Beginners: Understanding the Basics. Retrieved from https://www.thoughtco.com/economics-for-beginners-4140372
Moffatt, Mike. (2023, April 5). Economics. Retrieved from https://www.thoughtco.com/trying-to-define-economics-1146357
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