Study_of_Economics

The Study of economics is the science or deals with production, distribution, and consumption of goods and services. Basically economics is the science of our daily activities from the moment we wake up economics is taking place, your air conditioning has been running all night that’s using a service, you turn on the faucet to brush your teeth your using water, another service then you hop into your car and drive up to Starbucks buy a White Chocolate Mocha and receive the product, etc. Economics is all around us even if we try to avoid it in any way we still need to have a certain understanding of the subject to be able to survive in a thriving nation, and even more so in a nation that’s struggling to survive itself. Economics benefits an individual by allowing them an understanding of how to rule their lives. It teaches an individual that to every action there is a consequence and not only do they have primary consequences but also secondary consequence (which is the reaction of the first consequence). Also based on that Knowledge a person can make an influential set of reaction that not only satisfies his or her needs but also helps the nation as a whole, creating a stronger more thriving economy for that Nation. As part of my argument on why or why not to study economics I interview two people Betty Ramirez and Nuria Mendiluze. Nuria’s response was very eloquent she basically began to show me how everything we did or owned in some way required an understanding of economics. And Betty’s response even though not as moving also allowed for some influential reason to study economics. After I asked her the question Betty responded “we should all study economics since it’s what keeps our pockets full or empty.” In the end both parties concluded that economics is an important subject of study. The study of economics has not always been as important as it was today the United States as a government is relatively still young and is a growing nation. Also our economy was established thanks to a few intelligent individuals realized the importance of understanding the severity of this science. But now they have left their mark and unfortunately they cant live forever so us as children of this nation we are the future and must continue their legacy, they created it now we must continue. In the end ,Economicshis highly important to learn. It can help you understand much of the world. First it can help you understand current economic problems. Also, it can be used to comprehend and gain further knowledge in other issues too- including injustices, wars (many of which have economic causes), and yes even terrorism (a economics professor/adviser wrote a book about economics relation to terrorism- Economics of Terrorism). On a more closer, personal level, economics will help you in your daily life- it will help you consider the costs and benefits of actions- whether it is buying milk at a supermarket or deciding whether to go to a concert or going to another show (due to costs you have to ponder). It will also help you think in an economic, cost-effective way. Furthermore, it can help you learn how to balance budgets, something you need in real world. (Anonomious,http://answers.yahoo.com/question/index;_ylt=AoXqEdCP4jZFda87NrOFUXsjzKIX;_ylv=3'qid=20080726114537AAR3O9T)