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Economics in daily life
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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'
University has always appealed to me because of the wealth of exp...
While other children watched their favorite cartoon or played their favorite video game, reading business articles and watching the fluctuations seen in the stock market enthralled me. Renowned leaders in the business world have always been of interest to me, specifically Warren Buffet. My favorite quote by Buffet is “It’s better to hang out with people better than you. Pick out associates whose behavior is better than you and you’ll drift in that direction.” By attending CMU, I would personify this quote. Growing up, my parents have instilled into me, many essential values, such as working hard and “being the best me I could be.” I have always expected a lot from myself, but high expectations from my parents and close friends, have increased my work ethic and lifted my goals and aspirations even higher. For that reason, I hope to challenge myself through the prestigious Dietrich College of Humanities and Social Science’s economics curriculum. The undergraduate economics program would prepare me for a vast array of careers. Jobs in policy, law, and business are all possible, or if one desires to go to some sort of post graduate school, that is also possible. By having such a top-notch education, I would surely be closer to achieving my goal of receiving my MBA from Tepper. In making all this possible, a wide range of classes must be made available. Classes that are available in just about any economics curriculum, like Intermediate Economics, are also available here, but classes like Behavioral Economics and Global Electronic Markets are what makes CMU unique. Another attractive aspect of CMU is the jointly administered economics degree by Dietrich and Tepper. I feel this will make for a solid foundation in the field of econo...
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.
Being the first one to attend college in my family has pushed me to continue my education. Now in today’s society a college degree is so important. I want my parents to be proud of me, and be happy with my high level career after college, and that starts with my education. I also hope to be an influence on my younger brother and show him that a college education is important. He looks up to me, and I need to be a good role model for him. I truly just want to get the best education and job for myself worth and make myself happy.
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.
Economics is the study of how best to allocate scarce resources throughout an entire market. Economics affect our lives on a daily basis, whether it is on a business level or a personal level.
Many people fail to realise the importance of our economy, how diverse and interactive it is to our daily lives and the distinct role it plays in our constantly evolving economic climate. My initial interest stemmed from my lack of knowledge about the UK economy; resulting in the research about our recent financial crisis and from there it grew tenfold. I began to observe the situations around me from a different perspective, and with the help of micro and macroeconomic objectives, which are the fundamental foundations; I have been able to pursue this social science in far greater depth and understanding. It is a growing ambition of mine to explore what effect daily transactions and the conduct of millions of people like me has on our future in a domestic and global aspect. Further developing my study of economics will ensure I am able to explore such views to a higher level.
My long term career goal is to found my own financial company that specializes in applying advanced analytics tools to solve complex financial problems. Having worked as a financial analytics analyst for more than 6 months at Enova Financial, a Chicago-based consumer online financing company, my passion towards financial analytics is reinforced. Ranging from basic data query and reporting to predictive modeling and optimization, data analytics has assumed a more important role in today’s financial services industry. Mastering data analytics could help financial institutions acquire the relevant information in the shortest amount of time and make the informed decisions thereafter. Since personal loan industry is only the niche of financial services, I would like to broaden my horizon of the financial knowledge by gaining a deeper understanding of its principle and its application in order to achieve my loan term goal. Entering a full-time master in finance program, as such, becomes the best option for me.
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 crucial importance and relevance of economics related disciplines to the modern world have led me to want to pursue the study of these social sciences at a higher level. My study of Economics has shown me the fundamental part it plays in our lives and I would like to approach it with an open mind - interested but not yet fully informed.
However, law is not my sole academic interest. I am also drawn to subjects involving the big bucks- that is, economics. I became familiar with money at an early age by selling Girl Scout cookies to the locals. I took it a step further as a teenager with a job at Wendy’s, where I have learned firsthand about productio...
Tragakes, E. (2012). Economics for the IB diploma (2nd ed.). Cambridge, UK: Cambridge University Press.
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 ...
Method The required methods to analyze the significance of completing a finance degree included researching the average earnings after the completion of the MBA degree in relation to not taking one. Analyzing the rankings and results of graduates proved the significance of the impact on average salaries and also how many MBA degree owners obtained better sought out employment opportunities. The main website I used to undertake my research study was Forbes. Forbes contains some of the wealthiest CEO’s and presidents and analyses their educational background.
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