Studying economics can offer you an interesting opportunity to maximize your potential in both school and the workplace. The benefits are extensive, according to a number of studies, and research identifies economics as one of the best paying fields in the 21st century.
According to Georgia State University, studying economics can teach strong skills that will benefit an individual in a variety of jobs. Among these skills are the ability to: perform proper analysis and critical thinking; understand quantitative theory; and develop better communication.
If you receive a major in economics, the average starting salary is in the upper range compared to other business degrees. A 2007 survey conducted by the College of Business Administration at Bowling Green State University showed that the average starting salary of a person with an economics degree was $48,483.
The University of Otago states that studying economics as important because it is related to nearly every decision made in the world. From private individuals to businesses and governments, judgments about the scarcity of resources must be made.
Graduate schools look heavily at the comprehensive training an economics major offers. According to Georgia State University, anyone interested in business, law, politics and public policy needs the foundations of economics.
The challenge behind economics can be rewarding to individuals. It offers a unique opportunity for people to apply specific concepts in a flexible way.
- Photo Credit Image by Flickr.com, courtesy of borman818
Why Should Engineers Study Economics?
The increased diversity of technologies, resources and consequences of design requires that engineers have a firm grasp of economics. In his book...
How Is Economics Important to Society?
For most people, economics is all about money and finance and issues of supply and demand. While these are important elements, economics...
Definition & Importance of Economics
Contrary to popular belief, economics is about much more than money, inflation, and supply and demand. At its core, economics studies how...
Uses of Economics
Economics is a branch of the social sciences and a required course in many colleges and universities around the world. The study...
Why Are Costs Important in Economics?
Costs are an integral part to the field of economics because economics studies choices. The choices we make are based on weighing...
Importance of Microeconomics in Business
Economics is the foundation of all commercial activity and comprises two areas: microeconomics and macroeconomics. Macroeconomics is concerned with the big picture,...
The Reasons Why it Is Important to Study Business
While it is obvious that those planning on working in most industries and prospective entrepreneurs should study business, all people should learn...
The Advantages of Understanding Economics
Economics, the study of how people choose to use limited sources, is important for business leaders and everyday citizens alike.