O. M. Nazirova English for Design (Costume) freshmen

Importance of studying economics

So, why do we study economics? Here are five reasons why studying economics is important.

1. Informs decisions

Economists provide information and forecasting to inform decisions within companies and governments. This knowledge of economics – or economic intelligence – is based on data and modelling.

2. Influences everything

Economic issues influence our daily lives. This includes issues such as tax and inflation, interest rates and wealth, inequality and emerging markets, and energy and the environment. A broad subject, economics provides answers to a range of health, social and political issues that impact households and wider communities.