WHAT IS ECONOMICS ? 

What does one think Economics is? Is it a tough science employed by bankers to form money? Like alchemists who conjure gold? Is it about politics and accounting? Though its ancient etymology defines it as “the science of wealth” its meaning has expanded over time, and it's now a science of the factors influencing “well-being” as formally described by the standard Assurance Agency for education .

How is economics different from other social sciences?

Economics borrows from multiple sciences e.g. sociology or law, to elucidate why and the way people act to enhance their well-being and wealth, e.g. behavioural economics borrows from psychology and history to analyse how past experiences may shape expectations about the longer term .

Economists basically solves the problems by following methods :

➡1. Abstraction: 

breaking down a drag into its various components, as any thing has various factors influencing it, e.g. any business is travel by numerous people, each with a crucial role.

➡2. Analysis: 

observing past data, the context, also as what theory predicts, to research which choices are being irrationally made, and why.

➡3. Correction:

 tweaking or removing the source of a nasty choice, potentially through policy.

➡4. Celebration!

Is there Maths?

Yes!
This can be intimidating, but economic math is comparatively simpler thereto being taught to Maths undergraduates at university. While economics deals with understanding and interpreting our society, it also falls back heavily on concrete, numerical proof of what works within the economy and what doesn’t. this may involve observing numbers (as graphs or tables) to form sure mistakes are identified, and not repeated.
Communism looks like an honest idea on paper until numbers prove that it doesn’t add real life!

What skills will I even have after graduating?

It goes without saying that you’ll learn the overall bits everyone does once they enter university: submitting assignments on time (punctuality,) pulling all-nighters during a caffeine-induced haze (dedication and resolve) also as interacting with a various and interesting crowd (breadth of data and a sensitivity to others’ opinions). However, an economics degree will assist you mature at university during a unique way:

●▶ Abstraction and simplification: 

You see any problem as having multiple smaller components, just like the cogs and wheels to a malfunctioning machine. This microeconomic perspective allows you to unravel any large problem easily: it’s like lubricating a gear to urge the entire machine to figure .

●▶ Innovation: 

Discovering the matter can take a touch of creativity , as may crafting the answer for that problem.

●▶ Analytical skills: 

In economics and otherwise, you’ll know exactly what to seem at when making a choice, and this may assist you reach the simplest possible outcome to maximise your welfare. Your ally may have told you they loved Frosted Flakes, but does that mean you ought to buy them too? it's just one person, after all, and it doesn’t amount to a general consensus.

●▶ Comfort with Numbers: 

You’ll be reception with numbers so you'll easily knock anything suspicious the info tells you.

●▶ Economic Awareness: 

You’ll develop a deeper appreciation and understanding of how the planet works when interpreting it through an economic lens.

●▶ Bragging Rights!

 Not most are as lucky or smart to finish an economics degree at university.

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