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Basics of economics
Economic theories limitations
Basics of economics
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Introduction
The audience of this essay are incoming freshman students who confused about choosing their majors. This project will make them understand whether they suit it (this major) or not. And the purpose of this essay is introduce economics And I divide whole essay to 10 parts plus conclusion. The first section is background information. Then I want to talking about what is Economics and how it works for our society. Hence, the language in Econ and the Econ in MSU also are big part to describe. The next section is the way of thinking that the economics can bring to you. Then is the chaos of economics. After that, I want to talking about Promising Future of Economics and the jobs about economics major students. And the last section is my conclusion.
Background Information
I have a dream when I was a child. I want to be a president. I want to be an artist. I always imagine who can I be in the future, a pop star or a hero. But with the time goes by, I learn more and understand myself more. And my dream starts to transform. However, there is one thing I did not change. The love for the economics.
I read many books about economics in my spare time. I enjoy exploring the behaviors of individuals. So, basicly I choose economics as my major because I want to exploration truth in my life. And the purpose of this essay is tell the freshman whether they can study economics as they planed.
What is Economics
Economics is a system for the coordinating the productive activities for many people (Economics). First, I need to mention the economics is in social science college, it does not in the business college. It is totally different to finance. And every year, a lot of students did not know different and make wrong choose to...
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...ear, there are huge number students enroll economics classes. So, we need many faculties to teach them. Therefore, the international company need people with economics background, which help them to judge the best invest time and place. In addition, government also be a big boss for economics students. I do not know what the minimum wage is, but it is very stable jobs around world.
Fig. 1: 10 Most popular jobs for economics majors
Conclusion
Economics is a good major to study social. it is not hard like psychology or sociology. But it is more important than that. The economics make our society more effective and reduce the wastage of the society. It make sure our social runs well. Anyway, the economics is best choice for student to take class at MSU.
Works Cited
Economics. Krugman, Paul R., and Robin Wells. Economics. New York, NY: Worth, 2013. Print.
Dreams are a part of each person’s life that allows them to set goals for their future. One dream may be simple, but others allow them to achieve the impossible. There is that one goal that anyone and everyone wants to
Jobs, Charles. "Peakonomics: toward a case typology for increasing undergraduate economics literacy and concept retention." Journal of Economics and Economic Education Research 9.1 (2008): 19+.General OneFile. Web. 17 Feb. 2014.
What then, you ask, is the American Dream that I am so resolute to achieve? It is not a classic childhood aspiration for movie star status or the obsession with absolute wealth and position. I am much too sensible to chase such delusions, but this being said, I too pursue an equally illusive fantasy. The dream that infinite upward mobility exists.
Seldom do individuals realize the significance of acquiring a proper understanding of economics as a whole, let alone any subfields that branch off of it. Every aspect of economics is relative to another within itself, much like the roots of a tree are relative to the leaves or fruit that it bears. Attempting to distinguish between micro and macroeconomics in terms of significance to the real world is unavailing. Having a formal comprehension of this science begins with the principles and theor...
However, economics is relative to everyone’s life. We can still feel the wound of financial crisis up to today. It’s useful for everyone to learn something about economics.
The conclusion of the research in economics, both macroeconomics and microeconomics have a role they play to help an organization to be successful. Most people have a misconception about economics. The economy places a big part of our everyday life whether it be from purchasing a house or going into business. Customers play a big part in the economics because they help determine the direction that the economy is
The study of economics is important to everyone. Financial decisions affect everyone in their day-to-day routines. Economics is the study of how society manages its scarce resources (Mankiw, 2012). Macroeconomics is the study of economy wide phenomena, including inflation, unemployment, Gross Domestic Product, and economic growth (Mankiw, 2012). Macroeconomics is important because, it is how all of us relate into markets and economies. Many news articles today are centered on the economy and current events. One of these articles lends itself to many economic principles and ideas. Even though there are many important topics not covered in the article, the article titled, "You Are What You Owe" in Time, encompassed many general economic principles as well as the many macroeconomics indices illustrated in the article.
The dream seems easily obtainable by a get rich easy planner business. It is something most strive for and most defined differently but I 'll come back to a central point of making it big and getting out of bad circumstances. People travel miles and across oceans to obtain. Though many people in America take their situation for granted, many immigrants journey miles to have the opportunity to have the dream.
According to Sloman (2003), many people think that economics is about money. Well, to some extent this is true. Economics has a lot to do with money: with how much money people are paid; how much they spend; what is costs to buy various items; how much money firms earn; how much money there is in total in the economy. But despite the large number of areas in which our lives are concerned with money, economics is more than just the study of money. It is concerned with the production of goods and services and the ...
Economics is probably the science that arguably has had the most impact in today’s times. In fact it can barely be called a science in a strict sense, since human behavior is not governed by laws of nature unlike other non living objects, which makes the prediction and forecasting stock prices, economic conditions all the more difficult. In recent decades economists have tried to give a more structured and mathematical explanation to their theories concerning how human beings make their decisions. However these theories have come under immense criticism as they don’t hold true in real time. In reality, human beings rarely behave rationally which is the basic assumption in many of the economic theories; rather we make a lot of our decisions based on our intuition and limited knowledge available to us. When the financial crisis of 2008 came upon us, a lot of questions were raised on the apparent predictive abilities of the various economic theories. Merely 12 economists were able to foresee the massive crisis which now shows signs of deepening into a double dip recession.
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Tragakes, E. (2012). Economics for the IB diploma (2nd ed.). Cambridge, UK: Cambridge University Press.
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In today's world, economics associated disciplines are of fundamental significance and application and this has encouraged me to pursue a degree in Economics. Economics has an important relevance in all of our lives. As consumers we try to make the best of our limited incomes. As workers we take our place in the job market. As citizens of a country our lives are affected by the decisions of our government: decisions over taxes, decisions over spending on health and education, decisions on interest rates, decisions that affect unemployment, inflation and growth. As dwellers on the planet Earth we are affected by the economic decisions of each other: the air we breathe, the water we drink and the environment we leave for future generations are all affected by the economic decisions taken by the human race. It is these stimulating issues that excite me about economics. I enjoy studying Economics enormously and believe my passionate interest in economics is continually strengthened by my regular reading of 'The Economist'
Additionally, the challenge that I came across as I encountered different mathematical and economics problems at my latter stages of life contributed greatly towards cementing my desires to further my education in both mathematics and economics at your prestigious institution. Economics happens to be a fundamental part of humans’ daily living and the current economic crisis have triggered my desire to have appropriate knowledge about the