Does studying Economics in School make one to be economical or what

[JillianTaft]

Someone around told me that economics is useless, but economics is not completely meaningless. It does not necessarily only allow you to make money or know how to make money, but it allows you to understand how other people succeed and learn economics. People who study economics do not necessarily become rich, but they will guide others how to become rich. I think the ultimate goal of economics is to let us understand the world and see the real world clearly.

[Kittygalore]

Don't think so but they will be aware of what they should've done but have completely ignored it. There's a likely chance though that they will be economical though but some of the people I know don't employ what they learn to be economical personally, they work more on theory rather than the application.

[jossiel]

When I was still at school, I've ignored a lot of important topics and subjects including the economics.

But as I enter bitcoin and cryptocurrencies, that made me love how its economy works. And I think other people would love to know about economics if they've got money involved on it which is important to learn the subject.

[GeorgeJohn]

Your opinion is needed concerning the above topic.

It obvious that career discipline contribute immensely to our life's pattern irrespective of our already existing or embedded lifestyle in the society initially, because from my perception, adoption of knowledge via field career always changes the mentality or the reasoning of a man, basically the answer of your question is YES, from my objectives or observation towards the life character of human, giving another illustration to clarify the fact that even environment of humans causes change to a man.

[wxa7115]

If you mean I job wise, most science studies do open up the possibility of being paid higher and getting better job satisfaction. Economics can allow you to go into financial fields as well as general company management too - and anything else a normal qualification at the level you're going for might open up.

I think we've all seen the memes of people studying economics degrees making the most irrational/impulse purchases out of everyone.

If you want to save money, find ways how to. Work out how to do things like budgeting but don't stick to a budget, show yourself what you might have at the end if you did manage to cut out some sstuff - but don't make it something you won't stick to.

Depending on where you are, you don't need much to live off and still enjoy life - eg switch going for a drink or for coffee for having a picnic in the park then you've still got the same level of social interaction but for much cheaper.

This is similar to what happens when people want to lose weight and they set themselves some impossible targets with and incredible harsh diet and too much exercise, if we want to save then we need to do it in ways that are achievable for us.

For example I see a lot of people on my office with a Starbucks coffee which is very expensive, they always claim to have no money but they are always carrying their expensive coffee, if it is an habit that you cannot quit then over the long run it will be cheaper to make your own coffee and buy the best quality coffee beans that you can, this way you are still drinking the coffee that you want while saving money, but this requires effort and thinking outside the box and very few people can do that.

[goldade]

Your opinion is needed concerning the above topic.

Just like many people have pointed out already, you should have explained more as to what you meant by 'economical'
Personally,  I think what you meant would, does someone who studies economics becomes financially literate and  is practical with what he has learnt.
Although,  it is possible that one actually becomes financially literate through what he learn in school but most times, it requires some extra effort on the part of the student. How readily he ready to learn.
However, being financially literate isn't only for students of accounting or economics but for everyone who is ready to learn

[sapnu]

Usually, what we learn from school doesn't really last long and there are also instances wherein we cannot apply it in real life situation. One can be economical or financially literate with or without going to school hence, the individual should put on the work and effort to make himself knowledgeable enough to call himself literate. What we learn in school acts as a foundation or just a warm up on the million of things we can still learn after that. As long as one doesn't settle on what he has learned before, he can be an expert or atleast literate whatever field it is.

[Tumanggor]

Your opinion is needed concerning the above topic.

not really because being economical or good at managing finances is a habit and also the result of practice
I am an economics graduate, out of so many of my friends on campus, only 40% are economical, the rest is very wasteful

In addition, family economic factors also affect a person's frugal habits
On average, those who are born to simple families are very careful about their finances because they think that getting money is difficult

[maisao1991]

In my opinion, learning is one thing and living mistakes and thinking is another story, no matter what school you study in economics or go to, the nature of not knowing how to save is still due to the way you live. And everyone's thoughts are not the same.

[Saidasun]

Being educated in economics does not make you a good investor what it does do is make you aware of what can effect the market predicting that is a different story. If you have a economics diploma you are probably a little more knowledgeable on what can effect the market and different trading tragedies but investing at the correct time and taking it out is something that requires a lot of luck and a diploma is not going to help with that.

[Shasha80]

Your opinion is needed concerning the above topic.

Just like many people have pointed out already, you should have explained more as to what you meant by 'economical'
Personally,  I think what you meant would, does someone who studies economics becomes financially literate and  is practical with what he has learnt.
Although,  it is possible that one actually becomes financially literate through what he learn in school but most times, it requires some extra effort on the part of the student. How readily he ready to learn.
However, being financially literate isn't only for students of accounting or economics but for everyone who is ready to learn

Not everything we learn about economics at school makes us financially literate, and guarantees us to be economical. Most of what we learn in school is
only the basic theory of economics, sometimes in reality financial problems are much more complicated. To become financially literate there must be
more effort from ourselves, by learning from various sources that are directly related to the financial world. To be able to become financially literate
also depends on how we understand the lesson, because some people have to be explained several times to really understand. Now some economists
have their own YouTube channels to educate people who want to understand the world of finance. This means that everyone has the same opportunity
to study economics and become financially literate, not only economics students.

[jossiel]

In my opinion, learning is one thing and living mistakes and thinking is another story, no matter what school you study in economics or go to, the nature of not knowing how to save is still due to the way you live. And everyone's thoughts are not the same.

Saving is a far discussion and topic from economics.

But if someone wants to save and discusses about economics, we're all free to do so. Just as you study economics, people have the way to save and there's always the source who has thought them how to save.

And the same as economics, there's a source who has pushed them to study about it whether it's from school, a relative/friend or just your own thought.

[Poker Player]

Considering that it is not clear to us what the OP means by "economical", I will say what I think.

If he means someone who knows economics in a practical way, I would say not necessarily. A relative of mine studied economics and has no idea how income tax works. If you mean someone who knows personal finance, not necessarily either. An acquaintance of mine who is a bank manager (who also studied economics), when I told him that I was investing told me that he lives paycheck to paycheck. His only form of savings and investment is a mortgage.

[Ausgewielt]

I study economy at university, there I learn how the world economy works. I also learn how to predict the economy future. There are much more that I need to learn. In my opinion, for now there are many benefits of studying economy, for example we will be able to know about factors that influence the economy and if there is a problem then we know what we have to do to fix it. Usually that job is done by governments. We as citizens can prepare, adapt, and even use that situation to get opportunity. I learn business management so for me learn economy help me to make decisions in my business, for example to decide what product that I have to sell or what innovation is needed. I think learning good thing may ease us to live in this world.

[electronicash]

if you take business in college you should economics class. i never learn to trade even after economics 104 but i did learn history and how money works. if you mean by economical like you become frugal, you don't. i'm not sure what you will become if you take economics as a major actually. maybe teach i see some proffesors are majors or phd of economics.

Considering that it is not clear to us what the OP means by "economical", I will say what I think.

If he means someone who knows economics in a practical way, I would say not necessarily. A relative of mine studied economics and has no idea how income tax works. If you mean someone who knows personal finance, not necessarily either. An acquaintance of mine who is a bank manager (who also studied economics), when I told him that I was investing told me that he lives paycheck to paycheck. His only form of savings and investment is a mortgage.

maybe he meant that after eating an apple, he will still find ways to make use of the apple's seed and the leftovers in the middle that he won't be eating are for the pigs. that's still economical.

[Renampun]

I think some students become economical but some students do not become economical...

each student has different characteristics depending on their background as well as the teachings of their school. To become economic, it requires direct practice, not just theory because it relates to everyday life.

[bitzizzix]

The economy is one of the important sectors on which our lives depend and what I can apply every day is that I can manage our personal economy efficiently by using the money we have properly and correctly.
With the economy, we will definitely prioritize the most important needs to take precedence over the least important needs, and can be independent in entrepreneurship and managing needs.

and there are also those who study economics which are not applied in their lives and are only a formality, and there are also those who do not study it but can learn from mistakes because the income factor is not much so that it needs to be regulated and sufficient.

[Rruchi man]

Well i can't say for every country, but in my country, if you apply for a course of study and after an exam, you are unable to make the required score to be in that department, you will offered admission in another department that can accommodate your score, so sometimes you find people in a department that they have no interest in but are just there because that was what they were offered and they had to just leave the house. So most times the department one finds himself has little or no effect to his or her lifestyle.

In simpler sense, what i am saying is that i may be a huge spendthrift and find myself studying economics, because it is not what i like, i find myself just keeping up just to get the degree and be done with. Because i have no interest in it, the study of economics will definitely not be evident in my lifestyle.

It is also necessary to put into consideration that everyone has a nature when it comes to money that has been propagated by environment, family background, financial status, responsibility and so on...Some are natural spendthrifts that cannot hold money or be economical about it, while some are economical by nature and has nothing to do with their course of study, they simply just like being in control of their financial life. We have others who are misers, that will never want to spend on anything even for themselves, also has nothing to do with their course of study.

[Koro-Sensei]

Nope. I believe economic subjects helps you with tough mathematical problems containing theoretical problems that usually doesn't occur in real life situations. I have studied engineering economic in one of my subjects way back in 2019 but as I still haven't encountered problems introduced in textbooks. I don't know if its just a matter of place and culture but for me, no you cant be economical by just studying. You need experience and help from advisers in outside world.

[Princejebs]

Your opinion is needed concerning the above topic.

Academically, you sound more in that discipline than some one from another aspect who borrowed it purposely for knowledge.
Academic environment has even made it compulsory for everyone to acquire economics as a course either pure or online with your course of studies.