Economics-SSS2

Why is Economics important?
Economics is an exciting and interesting subject to study because it touches every area of your life. There is nothing that you do that is not related to economics. We all make economic decisions every day of our lives, and economics can help to improve our  decision-making. Economics offers a way of thinking about the world that enables us to make the best of what we have. In your Economics studies this year, you will look at major global challenges, such as unemployment and poverty. You will gain insight into how our government makes plans and policies to deal with issues such as these.

Economics not only provides you with the knowledge and insight necessary to understand the impact of developments in business, society and the world economy, but it also helps you to understand the decisions of households, firms and governments. Economics is about choice, scarcity, opportunity, and the impact of decision-making on aspects of society.

Economics is a dynamic and worthwhile field of study because it deals with important and interesting subjects such as capitalism versus socialism, management of inflation and unemployment, economic development of poor countries, pollution and many specific government policies, such as deregulation of electricity, the minimum wage, agricultural price supports, and rent control. Enjoy your studies!