How Economics has changed my life
During my high school times, when somebody asked me about higher studies, my reply was I want to pursue my higher studies in Computer Science and Engineering. I never thought that I would be an Econ major but Economics and I, we were meant to be. Here is how this subject taught me some life changing lessons and how changed my life.
So, what is Economics? I guess most of the people think it’s the study about money management, even I used to think like this.Lionel Robbins, a British Economist of the late 20th century – had claimed, “Economics is the Science which studies human behavior as a relationship between ends and scarce means which have alternative uses.” So, basically Economics deals about human beings choices and how these can be fulfilled within limited resources. From the definition I clearly understand it’s a strict discipline which was much needed in my messy life.
Studying Economics was not easy-it’s a vast subject and every concepts and every terms are related to each other. It is divided into two parts -Microeconomics and Macroeconomics, Demand and Supply are the basic topics of Microeconomics or Economics. When the Demand is high, Supply is also high and vice versa. This is very basic thing we can find in our everyday activities. Macroeconomics is about a country’s overall economic performance.
Economics shaped my life in many ways. First of all it taught me to think purposely and deeply. My resource (time) is limited and I have lot of things to do but there is Economics who taught how to make right decision at right time. To me, Economics is a world where the term "Gender" doesn’t exist. Gross Domestic Product (GDP) never measures which one is masculine or which one is feminine work. Economics also taught me about leadership, studying economic policies and applying them in real life, we are not only working for our country but also thinking about the global economics situation.
My Microeconomics teacher said, when a doctor makes a mistake only one human dies but when an economist makes a mistake millions of people die. Economics is a power, to create a better living environment the right practise of this power is much needed.