The system of education has changed a lot now days most of the schools emphasis on that education system which has a practical approach and is result oriented. Gone are the days when the criteria use to be mugging up of the syllabus and the aim use to be ahigh score in the report card. Now day’s criteria of the education system is practically understanding of any subject and excelling by making practical use of those subjects. There are a number of subjects that are taught in the schools and one of these many subjects is economics. This subject falls in the category of social science and it describes the production, consumption and distribution of goods and services.
AdvantagesOf Studying Economics
There are a number of benefits of studying economics firstly this subject emphasis on the study of economy. You must have heard of the word recession. It means when the country is occurring financial losses. If you have good knowledge of the subject then you can judge as to why there is recession in the economy. You will also be come up with a number of alternatives to tackle the problem of recession. Secondly the study of economics will help you get a good job. A number of career options open with the help of this subject. You can opt to work with a company and you can also excel by becoming a teacher by profession. In the education system the subject economics has become a must. In the education system this subject is divided into two categories-micro economics and the macro economics. Micro economics basically makes the study of a small parameter and the macro economics make the study of the economy related to the entire Let us study the two in detail:
The subject Micro economics is related to the following:
- The status of Supply and demand individually in the market
- The behavior of the consumer individually in the market. For example thetheory of Consumer choice
- It is related to the labor markets individuallyfor example demand for labor, determination of
- The arise of Externalities that are a result of production and consumption.
The subject Macro economics is related to the following:
- Studying of the monetarypolicy and the fiscal policy.
- Judging and hunting the Reasons for inflation that is simple language means price rise and unemployment that is simple language mean scarcity of jobs
- Study of the parameters related to the study of Economic Growth
- Study of the International trade and the globalization
- Study of the Reasons related to the differences in living standards and the growth of the economy between the countries.
- Policies related to Government borrowing
We can sum up by saying that the study of the economics is a broad parameter. You will get to learn everything related to the financial system of the government. For a good knowledge make sure that you refer to the right books and take help from a professional so that you have through knowledge and can easily explain you the fundamentals related to the subject.