ECONOMICS

What is economics?

Economics, at its very heart, is the study of people's behavior. It seeks to explain what drives human behavior, decisions, and reactions when faced with difficulties or successes. Economics is a discipline that combines politics, sociology, psychology, and history.

Why study economics?

When you study economics you gain a toolkit of skills, approaches, and ways of thinking that you can apply to a wide range of problems. Economics is one of the central disciplines underpinning the study of business and management and public policy.

A study in economics gives you a high level of mathematical and statistical skills and the ability to apply economic principles and models to problems in business, finance, and the public sector. More broadly, economic concepts can be applied to understand the logic of complicated data, to see how things relate to each other, and to see the broader context.

How will economics help me?


Some of the specific skills you develop include:

  • Communication - presenting ideas in a well-defined framework and supported by evidence that uses complex data
  • Numeracy - handling complex data and techniques of mathematical and statistical analysis
  • Problem-solving
  • Analytical skills

There is no doubt that to be a great economist, one has to be able to master the methods used in the profession, and have good math and statistical skills.

What else do I need to know?

You will also need to be interested in the world around you from history, to politics, to international affairs and consumer behavior in your country and worldwide, as these all impact on how individuals, companies, and governments behave and make decisions