IMPORTANCE OF STUDYING ECONOMICS

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IMPORTANCE OF STUDYING ECONOMICS

Economics is not just a study of Production or Demand and Supply but it is something we use in our daily-to-day life. From buying vegetables in the market to trading in the stock market, from budgeting the Household Income and Expenses to Planning and Managing Annual Finance Budget of the Nation, Economics is everywhere.. It is in that sense, omnipresent. Therefore, It is always beneficial for any student or in that case for every individual to have knowledge of Economics.

While studying economics, various skills are cultivated, they include problem-solving abilities, analytical skills, financial management and many more. These skills are absolutely essential to sustain in today’s competing market.
Economics is also one of the best fields for building an awesome career. Economists are also known as economic advisors to Prime Minister, Finance minister and their committees, which illustrates the glamour of this field. Economists provide key insights to businessmen regarding product development and marketing. Also in the same way economists helps Service Providers in their business.

Basically, Economics is not only understanding Human Behaviour from Local, Regional and National perspective but also making initiatives that have a potential of Economic and Social welfare of a nation as a whole.

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