Economics: What the Course Really Involves

What Is Economics?

Economics is the study of how people, businesses and governments make decisions about the use of limited resources. It looks at the production, distribution and consumption of goods and services and examines the factors that influence economic decisions.

As a university course, Economics goes beyond the everyday idea of buying and selling. Students learn how markets work, how prices are determined, why unemployment and inflation occur, how governments influence economic activity and how economic decisions affect individuals and society.

What Makes Economics Different?

Economics combines analytical thinking with the study of real-world economic problems. Students are expected to understand economic ideas and also use them to examine situations involving households, firms, markets and governments.

What Do Economics Students Need to Be Comfortable With?

Students should be prepared to work with numbers, explanations, graphs, economic concepts and logical arguments. Mathematics is important in the course, especially as students progress into areas that involve economic models, statistics and quantitative analysis.

Where Can an Economics Degree Take You?

Economics graduates can work in areas connected with banking, finance, research, business, government, consulting, development and administration. Some also continue into professional qualifications or postgraduate study.

The course is therefore suitable for students who want to understand how economies function and who are interested in analysing the factors behind economic decisions and outcomes.