Should I Study Economics?

Readers Question: i am thinking of doing economics, but i am not sure what subjects i need to do well at school and what kind of posibilities and challenges are there to face. also what kind of of econpomics are there to choose from and which one is ok for a young man who is in year 10 and is preparing for the path ahead of him. plz help me achieve my goals

If you are thinking of studying economics, it is important to feel some kind of interest in the subject.

Many issues in the news are related to economics. For example.

• “Federal Reserve cut interest rates”
• “Oil prices rise again”
• “House prices set to collapse”

If these kind of issues interest you at all, or you are keen to learn what they mean then Economics will be a good choice.

For beginners to economics there are two main branches of Economics – Micro economics and Macro Economics

Micro Economics involves issues such as:

• Does microsoft have too much monopoly power?
• Why do women get paid less than men?

Macro Economics involves issues such as:

• Should Government cut taxes to boost the economy?
• Should we worry about budget deficit, should we worry if inflation rises to 5%

For more examples see the economic essays here

Economics and Everyday Life

Economics also affects everyday life and decisions that you have to make. For example, how to maximise your utility given limited income. With economics you can analyse why:

• House prices in UK are high.
• Why Restaurants offer free meals to policemen on duty

A humorous look at why you should study economics – top 10 reasons