Economics explains how people interact with markets to get what they want or accomplish certain goals. Since economics is a driving force of human interaction, studying it often reveals why people and governments behave the way they do.
Do you ever wonder why food costs rise when gas prices spike? Or, do you question why Do politicians worry when other countries talk about going bankrupt? Perhaps you’ve wondered why you can’t get a good interest rate on your savings account? All of these phenomena can be explained through economics.
Economists also seek to answer important questions about how people, industries, and countries can maximize their productivity, create wealth, and maintain financial stability.
Related post: Economics Books For Economist.
These are the skill and knowledge required for an economics major:
Knowledge:
1.understanding of economic concepts and principles• understanding of economic theory and modelling approaches, and their competent use
2. Proficiency in quantitative methods and computing
techniques and how to use these techniques and methods
effectively across a range of problems
3. Understanding of economic data and the appropriate
methods of analysis to interpret that data
4. Know how to apply economic reasoning to policy issues in a critical manner
5. Understanding that many economic problems may have more than one approach and may have more than one solution
Skills:
• Design, conduct and interpret research and statistical
analysis
• Apply an evidence-based approach to problems
• Communicate findings using models, charts and graphs
• Communicate new research findings and complex ideas to lay audiences
• Communicate research findings using clear, accurate, concise writing
• Integrate economic concepts with disciplines like sociology, history, political science and psychology broad vocabulary and the ability to use critical terminology appropriately
• Skills in a variety of research methods and the ability the accurately and appropriately present research
• Awareness of how different social and cultural contexts affect the nature of language and meaning
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