Why we must study Economics at University?

[paxmao]

If you like to do business economically you can study economics, but there are many successful entrepreneurs who do not go to universities that they are rich from their own experience as well as their bravery so the need to study economics is not necessary.

It isn't necessary, but it helps and the people who are successful in business without going to college are probably outnumbered greatly by those who did (but that's just my thought; I have no data to back it up).

My major in college wasn't economics, but I took a few elective courses in economics--Basic Economics, Corporate Finance, and Intro to Econometrics.  I enjoyed those classes enormously, especially the corporate finance one which was about stocks, bonds, derivatives and basically investing.  Even if you're a computer geek (or pharmacy student), you should at least take one or two elective courses in econ, because they're pretty useful and interesting.  Business never really interested me until I started making money, and I probably wouldn't have majored in that or econ, but I'm glad I took the classes I did.

If you watch TV at all, you probably watch the news.  You constantly see financial reports about jobs numbers and the stock market, and having a bit of education in finance helps you to understand what's being reported.  You don't have to be an entrepreneur to benefit from it.

For what I know, studying economics at uni means that you will have to go through a lot of nonsensical doctrine to get a bit of true knowledge. However, a college level education in Economics as a side subject can provide people with an understanding on how the world works around them and what can they do to take maximum advantage of whatever circumstances they have in their lives. It will not protect you from government misdeeds but may help you making the best decision to the case.

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[LUCKMCFLY]

In Reality university dont give much knowledge.
Those people who are booksmart dont undestood much!

Those who have real experinces and real knowledge only counts!
Im against to education becouse I seen those people and I think most of them are really dumb.

I respect people who have real experinces in Everything in life!!
The most experinced people are most often in Everything the taxy drivers.
Its always Pleasure to talk with them you can really see that they been Through in things and they really know about a lot topics.

So the school education is only good to learn abc Numbers% calculations Everything Else is most likeky crap

University won't give you all the knowledge but it will help you to learn those by your own mind. If you thought university is where they spoonfed every information to you, you're wrong. They give you all the foundation you must learn in order to master a specific course. It's kinda offending for those who have been through a lot of exams, projects and who passed the boards just to get a good job. Also, you can be knowledgeable and get many experiences, that will make you a successful person.

Universities (and education in general) should teach you how to learn by yourself. If you have the knowledge to self pace yourself into obtaining new knowledge, you'll be able to achieve anything. However, I studied business administration, and most of the economic theories are completely theoretical and can't actually be put to practice.

You're right, when I saw economics at the University, it only focused on the country's local economy, obviously that economy or that study no longer applies now, because I live in a country that has been clearly destroyed by high inflation, so much so that they don't even talk about the currency. local but USD, Eur or any foreign currency of value.

I think that instead of teaching economics at the local level, the world economy should be taught, at the level of the main countries that move economies such as the USA and European countries, that is where everything originates to be able to understand the small economies of other countries, In my case, you learn more about economics by understanding the deflationary economy of Bitcoin than the traditional one due to the high freedoms offered by the economy of BTC and cryptocurrencies than the economy conditioned by governments and banks of the traditional one.

[Ultegra134]

In Reality university dont give much knowledge.
Those people who are booksmart dont undestood much!

Those who have real experinces and real knowledge only counts!
Im against to education becouse I seen those people and I think most of them are really dumb.

I respect people who have real experinces in Everything in life!!
The most experinced people are most often in Everything the taxy drivers.
Its always Pleasure to talk with them you can really see that they been Through in things and they really know about a lot topics.

So the school education is only good to learn abc Numbers% calculations Everything Else is most likeky crap

University won't give you all the knowledge but it will help you to learn those by your own mind. If you thought university is where they spoonfed every information to you, you're wrong. They give you all the foundation you must learn in order to master a specific course. It's kinda offending for those who have been through a lot of exams, projects and who passed the boards just to get a good job. Also, you can be knowledgeable and get many experiences, that will make you a successful person.

Universities (and education in general) should teach you how to learn by yourself. If you have the knowledge to self pace yourself into obtaining new knowledge, you'll be able to achieve anything. However, I studied business administration, and most of the economic theories are completely theoretical and can't actually be put to practice.

Yes, you still need actual practice, but that's a good thing because you'll be doing the right practice because you have the knowledge from your college days. Economics is a difficult subject to grasp and master on your own. Economics is a very important subject nowadays because understanding how things work economically is important for our survival.

You need to acquire work experience in the economics field, in order to understand how exactly a management position works for instance. General economics are way too theoretical and universities do not prepare you for the real thing out there, if I had the chance to switch subjects, I'd choose financials and accounting, which is something that can be put to practice.

[monineklutak]

In Reality university dont give much knowledge.
Those people who are booksmart dont undestood much!

Those who have real experinces and real knowledge only counts!
Im against to education becouse I seen those people and I think most of them are really dumb.

I respect people who have real experinces in Everything in life!!
The most experinced people are most often in Everything the taxy drivers.
Its always Pleasure to talk with them you can really see that they been Through in things and they really know about a lot topics.

So the school education is only good to learn abc Numbers% calculations Everything Else is most likeky crap

University won't give you all the knowledge but it will help you to learn those by your own mind. If you thought university is where they spoonfed every information to you, you're wrong. They give you all the foundation you must learn in order to master a specific course. It's kinda offending for those who have been through a lot of exams, projects and who passed the boards just to get a good job. Also, you can be knowledgeable and get many experiences, that will make you a successful person.

Universities (and education in general) should teach you how to learn by yourself. If you have the knowledge to self pace yourself into obtaining new knowledge, you'll be able to achieve anything. However, I studied business administration, and most of the economic theories are completely theoretical and can't actually be put to practice.

Yes, you still need actual practice, but that's a good thing because you'll be doing the right practice because you have the knowledge from your college days. Economics is a difficult subject to grasp and master on your own. Economics is a very important subject nowadays because understanding how things work economically is important for our survival.

You need to acquire work experience in the economics field, in order to understand how exactly a management position works for instance. General economics are way too theoretical and universities do not prepare you for the real thing out there, if I had the chance to switch subjects, I'd choose financials and accounting, which is something that can be put to practice.

Of course, if you talk about general economics, I think it's like the name, which is just studying economics in general,
it is indeed different when we compare it to finance or accounting,
both need theory and practice and they can't be separated maybe

[Kittygalore]

Simply put, we need this because in my opinion the economy is one of the supports for us to live better, we can still live even if we don't understand the economy, but we will find it difficult to live a different life from people who know at least a little about the economy.
because the economy can make it easier for us to understand the economic events that occur besides that it can make us wiser in using the resources we have.
Without us realizing it, by studying economics, we have at least grown our social spirit to be better than before.
Then with a little understanding of the economy of us tend to be more careful and consider the economic side when doing everything.

What you're explaining isn't simple, you're delving too deep in the subject and it's the opposite of simple. Here's one though, it's to help us understand the basics of supply and demand and why the prices are moving up and down, that's the simple reason in my opinion because if you know this then you won't complain when the prices are high on some products and low on the other ones.

[Ultegra134]

In Reality university dont give much knowledge.
Those people who are booksmart dont undestood much!

Those who have real experinces and real knowledge only counts!
Im against to education becouse I seen those people and I think most of them are really dumb.

I respect people who have real experinces in Everything in life!!
The most experinced people are most often in Everything the taxy drivers.
Its always Pleasure to talk with them you can really see that they been Through in things and they really know about a lot topics.

So the school education is only good to learn abc Numbers% calculations Everything Else is most likeky crap

University won't give you all the knowledge but it will help you to learn those by your own mind. If you thought university is where they spoonfed every information to you, you're wrong. They give you all the foundation you must learn in order to master a specific course. It's kinda offending for those who have been through a lot of exams, projects and who passed the boards just to get a good job. Also, you can be knowledgeable and get many experiences, that will make you a successful person.

Universities (and education in general) should teach you how to learn by yourself. If you have the knowledge to self pace yourself into obtaining new knowledge, you'll be able to achieve anything. However, I studied business administration, and most of the economic theories are completely theoretical and can't actually be put to practice.

Yes, you still need actual practice, but that's a good thing because you'll be doing the right practice because you have the knowledge from your college days. Economics is a difficult subject to grasp and master on your own. Economics is a very important subject nowadays because understanding how things work economically is important for our survival.

You need to acquire work experience in the economics field, in order to understand how exactly a management position works for instance. General economics are way too theoretical and universities do not prepare you for the real thing out there, if I had the chance to switch subjects, I'd choose financials and accounting, which is something that can be put to practice.

Of course, if you talk about general economics, I think it's like the name, which is just studying economics in general,
it is indeed different when we compare it to finance or accounting,
both need theory and practice and they can't be separated maybe

I'm now graduating from Business Administration and most of the economics we were taught was too general to be put in practice. Accounting and finance is a whole different sector of course, but I'd refer them as applied economics, since they can easily be put into practice.

If you achieve a BSC in economics or any other similar sector, I think it's almost mandatory to reach for an MBA in order to stand out and gain more widened knowledge.

[Ngewex Yuk]

Economics lessons play an important role in our lives, almost all areas of life are always related to the economy, the simple thing is buying and selling, without understanding economics, we will get expensive prices so that it makes our finances problematic.

[Natsuu]

In Reality university dont give much knowledge.
Those people who are booksmart dont undestood much!

Those who have real experinces and real knowledge only counts!
Im against to education becouse I seen those people and I think most of them are really dumb.

I respect people who have real experinces in Everything in life!!
The most experinced people are most often in Everything the taxy drivers.
Its always Pleasure to talk with them you can really see that they been Through in things and they really know about a lot topics.

So the school education is only good to learn abc Numbers% calculations Everything Else is most likeky crap

University won't give you all the knowledge but it will help you to learn those by your own mind. If you thought university is where they spoonfed every information to you, you're wrong. They give you all the foundation you must learn in order to master a specific course. It's kinda offending for those who have been through a lot of exams, projects and who passed the boards just to get a good job. Also, you can be knowledgeable and get many experiences, that will make you a successful person.

Universities (and education in general) should teach you how to learn by yourself. If you have the knowledge to self pace yourself into obtaining new knowledge, you'll be able to achieve anything. However, I studied business administration, and most of the economic theories are completely theoretical and can't actually be put to practice.

Yes, you still need actual practice, but that's a good thing because you'll be doing the right practice because you have the knowledge from your college days. Economics is a difficult subject to grasp and master on your own. Economics is a very important subject nowadays because understanding how things work economically is important for our survival.

You need to acquire work experience in the economics field, in order to understand how exactly a management position works for instance. General economics are way too theoretical and universities do not prepare you for the real thing out there, if I had the chance to switch subjects, I'd choose financials and accounting, which is something that can be put to practice.

Of course, if you talk about general economics, I think it's like the name, which is just studying economics in general,
it is indeed different when we compare it to finance or accounting,
both need theory and practice and they can't be separated maybe

I'm now graduating from Business Administration and most of the economics we were taught was too general to be put in practice. Accounting and finance is a whole different sector of course, but I'd refer them as applied economics, since they can easily be put into practice.

If you achieve a BSC in economics or any other similar sector, I think it's almost mandatory to reach for an MBA in order to stand out and gain more widened knowledge.

Both of your answers are correct in their own perspective, and none of them are wrong.

Its just that education as a general is similar to what Ultegra is describing, like us in engineering. We are taught of all the theories out there with regards to precise calculation, but in the field (base on my internship experience) we are more on estimating and rule of thumb. BUT the knowledge of the theories are also need to be considered. The formula's given to us are for exact calculations, where the general rule of thumb and estimation of our supervisors came from.

Ergo, universities only provides his students the familiarization of terms and formulas that is common for the industry he is about to take, to be able to understand what the people in that field were they talking about. In addition, experience is indeed the best thing everyone must have, but having both the knowledge and experience, makes you a better candidate than the rest.

[skarais]

You're right, when I saw economics at the University, it only focused on the country's local economy, obviously that economy or that study no longer applies now, because I live in a country that has been clearly destroyed by high inflation, so much so that they don't even talk about the currency. local but USD, Eur or any foreign currency of value.

I think that instead of teaching economics at the local level, the world economy should be taught, at the level of the main countries that move economies such as the USA and European countries, that is where everything originates to be able to understand the small economies of other countries, In my case, you learn more about economics by understanding the deflationary economy of Bitcoin than the traditional one due to the high freedoms offered by the economy of BTC and cryptocurrencies than the economy conditioned by governments and banks of the traditional one.

I didn't have the opportunity to study Economics more either in school or University and for this reason I have quite narrow knowledge of Economics, but that doesn't mean I'm not interested in studying it after I graduated from University especially after I got to know bitcoin and this forum. I agree with your opinion that there must be a change in the direction of education that is adapted to the technology that is happening in the world and maybe in the future a special university majoring in economics will also have digital currency lessons (bitcoin/cryptocurrency) in the trading and investment environment. I'm not an Economics graduate from university, but bitcoin has taught me a lot about economics since 2017. That's great.

[Ultegra134]

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Both of your answers are correct in their own perspective, and none of them are wrong.

Its just that education as a general is similar to what Ultegra is describing, like us in engineering. We are taught of all the theories out there with regards to precise calculation, but in the field (base on my internship experience) we are more on estimating and rule of thumb. BUT the knowledge of the theories are also need to be considered. The formula's given to us are for exact calculations, where the general rule of thumb and estimation of our supervisors came from.

Ergo, universities only provides his students the familiarization of terms and formulas that is common for the industry he is about to take, to be able to understand what the people in that field were they talking about. In addition, experience is indeed the best thing everyone must have, but having both the knowledge and experience, makes you a better candidate than the rest.

It's just that I feel like I know a little bit of everything, but nothing in particular. I was taught the basics of economics and now I'm trying to make up my mind on how to continue from now on.

I have no hands on experience on a position of my remit to judge yet, I'm hoping to work on my field soon.

[worldofcoins]

In order to provide effective solutions to these problems, one must have a high understanding of the underlying core factors. To achieve this understanding, training in economics, specifically microeconomics and macroeconomics, is required.

Not everyone can do this though, not everyone has the skill or the will to be an economist so I don't think that what you're saying is a realistic one since there's no way that everyone can be an economists, what they ought to know is how the supply and demand works and they're good to go.

It's not about if everyone can do this or not, But the option of opting for economics should be given to the students, they should know about taxes and other financial related stuff.
If they don't then it's likely that at some point someone will take advantage of them now knowing a thing or two about economics and how it works.

In other words, you don't know about financial stuff then you're at the mercy of people who know how to bend the things around that field.

[LUCKMCFLY]

You're right, when I saw economics at the University, it only focused on the country's local economy, obviously that economy or that study no longer applies now, because I live in a country that has been clearly destroyed by high inflation, so much so that they don't even talk about the currency. local but USD, Eur or any foreign currency of value.

I think that instead of teaching economics at the local level, the world economy should be taught, at the level of the main countries that move economies such as the USA and European countries, that is where everything originates to be able to understand the small economies of other countries, In my case, you learn more about economics by understanding the deflationary economy of Bitcoin than the traditional one due to the high freedoms offered by the economy of BTC and cryptocurrencies than the economy conditioned by governments and banks of the traditional one.

I didn't have the opportunity to study Economics more either in school or University and for this reason I have quite narrow knowledge of Economics, but that doesn't mean I'm not interested in studying it after I graduated from University especially after I got to know bitcoin and this forum. I agree with your opinion that there must be a change in the direction of education that is adapted to the technology that is happening in the world and maybe in the future a special university majoring in economics will also have digital currency lessons (bitcoin/cryptocurrency) in the trading and investment environment. I'm not an Economics graduate from university, but bitcoin has taught me a lot about economics since 2017. That's great.

Well I have realized that learning about the crypto economy is much easier to understand the traditional economy, when realizing that in the economy there are so many freedoms and so much guarantee to do so many things, such as achieving financial freedom quickly with the right investment and In a much shorter period of time than that obtained in the traditional economy, it is understood that there are control bodies, third parties, such as governments and banks that establish the rules to follow even to determine how much money you should move, and how much to withdraw, These are just very simple examples of what the world economy means, just as the traditional economy faithfully believes in gold and strong backups, not in the crypto economy, since its strength is determined due to supply and demand, well there are many things that there are, that as more is known about crypto, at least in my case I understand the traditional economy more.

[CryptoGamblingSites]

In order to provide effective solutions to these problems, one must have a high understanding of the underlying core factors. To achieve this understanding, training in economics, specifically microeconomics and macroeconomics, is required.

Not everyone can do this though, not everyone has the skill or the will to be an economist so I don't think that what you're saying is a realistic one since there's no way that everyone can be an economists, what they ought to know is how the supply and demand works and they're good to go.

All of the Economics books that previous and future economists read (to take tests proving they can one day be a 9-5 economist, paid hourly) are available on the internet for FREE now

You may not get the accreditation from a fancy school but learning things for FREE vs what Universities charge to have an expensive degree (proving you read those books), has never been easier 

Nobody should want to be an economist once they realize that only Keynes is taught in most universities, we have bitcoin to solve a lot of the problems he never even thought of

[Gudhal Untu]

I think the economy is the most important thing in life, if we work or do business of course we must understand the economy, the simple thing is that we receive a monthly salary and monthly expenses, if we don't understand the economy then we will lose money because the money has run out before getting the next salary.