Putting My Economics Lessons to Use Outside the Classroom

Eli, Year 12, Gubei Campus

A question commonly asked by students throughout the course of their education is, “When am I going to use this in my real life”? One class where this question is not this case is Economics. While other classes may focus on teaching you what you need to know now, Economics focuses on what you will need to know for the future.

Economics is more than just the study of money; it is the study of human decisions, and the impact such decisions have on other parties. Economics focuses on the interaction of three parties: producers, consumers, and government, as well as the effect that decisions have on all of these parties.

My own experience with Economics has helped demystify the actions of business firms and government. We live in interesting times. People are making decisions for which the reasons are not necessarily clear, and no field of study is as effective for understanding people and finance as economics. Whether it be a price increase or the election of a world leader, the reasoning is always rooted in the study of Economics. Students studying Economics are frequently encouraged to research economics news, and cast an analytical look at the implications of what we have read.

In sum, for many students, Economics is a passport to the world and its features, providing students with some important skills they will need to succeed in modern day life.

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