{"id":1189,"date":"2022-11-25T11:47:37","date_gmt":"2022-11-25T06:17:37","guid":{"rendered":"https:\/\/pspcollege.com\/?p=1189"},"modified":"2022-11-30T10:57:12","modified_gmt":"2022-11-30T05:27:12","slug":"why-study-economics","status":"publish","type":"post","link":"https:\/\/pspcollege.com\/why-study-economics\/","title":{"rendered":"Why study Economics ?"},"content":{"rendered":"<h1><b>5 Reasons why anyone should study Economics?<\/b><\/h1>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"size-full wp-image-1190 aligncenter\" src=\"https:\/\/pspcollege.com\/wp-content\/uploads\/2022\/11\/5-Reasons-why-anyone-should-study-Economics.png\" alt=\"A woman is checking a Bill in the Mall and in front of her, there is a trolley, and in this, you will know Why study Economics.\" width=\"512\" height=\"341\" \/><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Do you know your daily life activities are an application of <\/span><b>economics principles<\/b><span style=\"font-weight: 400;\">? Do you know that understanding and the <\/span><b>study of economics<\/b><span style=\"font-weight: 400;\"> can boost your professional career and ease up your personal life?\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Now you\u2019d ask, how? If yes, then only scroll down without clicking anywhere else. Unless you are planning to check out PSP college\u2019s courses, of course.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When you go to a mall to buy a dress for an interview and there you really like another dress which is out of your budget. And understanding the need of the hour you decide to buy an interview dress only. Do you know what you just did here?\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You applied the opportunity cost principle where in order to gain something you sacrificed another gain. Opportunity cost is basically the best return forgone to gain something else and this is just one example of the very many other economic tools we use.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But had we known better wouldn’t we be able to use <\/span><b>economic tools <\/b><span style=\"font-weight: 400;\">to an optimum? If you agree then let\u2019s check out the reasons <\/span><b>why study economics.<\/b><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li aria-level=\"1\"><b>Improved problem-solving &amp; reasoning skills<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Good knowledge of <\/span><b>economics tools<\/b><span style=\"font-weight: 400;\"> broadens the mindset of an individual. That\u2019s because the <\/span><b>study of economics<\/b><span style=\"font-weight: 400;\"> is the practice of analytical tools which are simply a part of our lives. And the only benefit of studying something is when you apply its frameworks in real life.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Let\u2019s imagine a situation in which you have the decision to make between two things both of which will give you pleasure but one is your need and the other is your desire. And if your reasoning skills are strong enough you\u2019d be able to make a quick decisions which will also improve your problem-solving skills.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li aria-level=\"1\"><b>Numerous Career Prospects<\/b><\/li>\n<\/ul>\n<p><b>Studying of economics<\/b><span style=\"font-weight: 400;\"> has multiple benefits, one of which includes a large number of career options. As we have already established that economics is everywhere, therefore many companies and employers hunt for great economists. But having said that being an <\/span><b>economist<\/b><span style=\"font-weight: 400;\"> isn\u2019t the only option, you can be a marketer, salesperson, entrepreneur, financial advisor, insurer, professor, manager, broker, financial consultant, and many more such career prospects are available.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li aria-level=\"1\"><b>On-the-spot decision-making skills<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">A person with an economics mind is the one with the best decision-making skills. You may not have an <\/span><b>economics degree <\/b><span style=\"font-weight: 400;\">but even a general knowledge of the subject and regular practice can enhance analytical skills which helps a person in making very good and reasonable choices that are profitable for the future. In fact, the capability to make instantaneous smart decisions which especially employers and reputed colleges appreciate.<\/span><b><\/b><\/p>\n<p>&nbsp;<\/p>\n<p><em>Read More:-\u00a0<\/em><\/p>\n<p><a href=\"https:\/\/pspcollege.com\/what-are-the-benefits-of-b-com-after-12th\/\" target=\"_blank\" rel=\"noopener\">What are the benefits of B.com after 12th?<\/a><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li aria-level=\"1\"><b>Optimum use of Economics tools<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Having an <\/span><b>economics degree<\/b><span style=\"font-weight: 400;\"> can only be beneficial if you use its knowledge and tools to an optimum. At a basic level, we have studied marginal utility, opportunity cost, sunken cost, etc. We have also studied their use on both a micro and macro level. However, being an <\/span><b>economics major<\/b><span style=\"font-weight: 400;\">, your ability to utilize your knowledge to make real-life decisions can build your personality and mental capacity.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0For eg- In an interview, every interviewer asks questions that demand the use of <\/span><b>economics tools<\/b><span style=\"font-weight: 400;\"> and if you are able to use your presence in your mind and analyze the questions then there are maximum chances of you getting selected.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li aria-level=\"1\"><b>Great preparation for future competition<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The importance of an <\/span><b>economics degree <\/b><span style=\"font-weight: 400;\">is realized when you face competitions and challenging situations in your life where you are under the spot. When you go for higher education or a high-profile job for that matter. Your interviewer\/employer expects a person with a strong analytical, reasoning, and spontaneous mind frame. That\u2019s because be it a business or a political front or a normal life for that matter, smart and economical handling of situations proves to be successful and profitable.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><b>Conclusion<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The <\/span><b>importance of Economics<\/b><span style=\"font-weight: 400;\"> is a vast topic to be discussed yet these aforementioned five points cover the major portion of it.<\/span><b> Why studying economics <\/b><span style=\"font-weight: 400;\">is important doesn\u2019t exactly mean that you have to build a career in it, however, the understanding of the subject can really impact your life. But if you are looking for an<\/span><b> economics profession<\/b><span style=\"font-weight: 400;\"> then sincerely studying it is very crucial as an <\/span><b>economics degree<\/b><span style=\"font-weight: 400;\"> can massively train your mind and personality for impromptu situations and make you a prudent decision-maker.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>5 Reasons why anyone should study Economics? &nbsp; Do you know your daily life activities are an application of economics principles? Do you know that understanding and the study of economics can boost your professional career and ease up your personal life?\u00a0 Now you\u2019d ask, how? If yes, then only scroll down without clicking anywhere [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1190,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_joinchat":[],"footnotes":""},"categories":[1],"tags":[123],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Why study Economics ? - PSP College<\/title>\n<meta name=\"description\" content=\"Do you know economics is present everywhere? Do you know you practise economics everyday? 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