The Importance of Learning Economics Education
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Posted On :
Nov-23-2011
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Article Word Count :
525
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Economics falls under both science and art. Analytical mathematical models that try to find and explain economic behavior.
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It has always been a matter of great confusion whether Economics is Science, Arts or Commerce. Except the language subjects, it is the only common subject that is given as an option to the students of all the three streams. Economics falls under both science and art. Analytical mathematical models that try to find and explain economic behavior in a way that can be theoretically proved has been developed by many economists. There many models under macroeconomics which explain variables like inflation, growth and development.
In terms of the importance of the subject, Economics is important because without the subject it would not have been possible to understand the impact of the growth in business, society and world market. It also helps to figure out the decisions of household, firms and government that are based on beliefs, constraints, behavior, structure and needs. Economics is science that deals with production, distribution and consumption of goods and services. As a result, we can say that anything that involves “transfer of money” includes “economics”. Economics is mainly divided into two schools namely, microeconomics and macroeconomics. When the results of these two get combined then it determines the actual effect of economics on people.
When we talk about the importance of Economics we include optimizes resource usage, utilizes the “opportunity cost”, social efficiency, gains, stabilization of the overall economy, significance of economics, understanding individual economics. It is also important as a subject in school because it helps students not to suffer from any kind of complex problems that are related to money ever in their lives. As the study of Economics deals with production, consumption and distribution of wealth, it also helps to solve any related problems. The study of this subject includes activities that are concerned to vocation and occupation.
By Studying economics a person develops a practical outlook in life and it becomes easier to solve the economic problems as one develops insight through which the person can deal with these problems. With the study of Economics, a student’s depth of knowledge on finance improves considerably. It also gives the students the scope to know about its merits and demerits that brings betterment in various economic fields, various categories of people, different kinds of land, a variety of plans of country and for which is used as part of economics. Economics provide the students with the knowledge of international trade where no country can remain away from the influence of other countries and hence builds up international outlook.
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Article Source :
http://www.articleseen.com/Article_The Importance of Learning Economics Education_108432.aspx
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Author Resource :
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Keywords :
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Category :
Reference and Education
:
K 12 Education
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