Studies & Degrees in Economics
Choose where you would like to study Economics:AlbaniaAlgeriaAngolaArgentinaArmeniaAustraliaAustriaAzerbaijanBangladeshBarbadosBelarusBelgiumBeninBoliviaBosnia and HerzegovinaBotswanaBrazilBrunei DarussalamBulgariaBurundiCambodiaCameroonCanadaCape VerdeCentral African RepublicChadChileChinaColombiaCosta RicaCôte d'IvoireCroatiaCubaCyprusCzech RepublicDenmarkDominican RepublicEcuadorEgyptEl SalvadorEstoniaEthiopiaFijiFinlandFranceGeorgiaGermanyGhanaGreeceGuatemalaHaitiHong KongHungaryIndiaIndonesiaIranIraqIrelandIsraelItalyJapanJordanKazakhstanKuwaitKyrgyzstanLaoLatviaLebanonLesothoLithuaniaMacaoMacedoniaMadagascarMaltaMauritaniaMexicoMoldovaMozambiqueNamibiaNetherlandsNew ZealandNicaraguaNigeriaOmanPakistanPanamaPeruPhilippinesPolandPortugalPuerto RicoRomaniaRussiaSerbiaSingaporeSlovakiaSloveniaSouth AfricaSouth KoreaSpainSudanSurinameSwedenSwitzerlandThe United KingdomThe United StatesTurkeyUgandaUkraineUnited Arab EmiratesUruguayUzbekistanVenezuelaVietnamYemenZambiaZimbabwe
Economics Study Programs
When you want to know how people make choices to get what they or ask why they cannot get all that they want, you are dealing partly with economics. In its entirety, economics is defined by authorities as “the social science that analyzes the production, distribution and consumption of goods and services” in a particular area. It differs from economy in the sense that economy is a system and the structure of economic life of the community. When you analyze economy as a system in relation to its basic elements like markets and agents, consumers and companies, as well as buyers and sellers, you are using microeconomics unlike macroeconomics that addresses the factors affecting the entire economy such as inflation, monetary and fiscal policy, economic growth and unemployment, among others.
A study of economics is interesting. It enables you to know what are consumer goods, capital goods and the factors of production such as work, capital, ground, environment and information. There is a wide array of consumer goods such as usage goods as a toilet paper, or purpose goods like a car. You will be interested to know the capital goods that are inseparably important in the production of other goods like equipment, machines and buildings. Households constitute a part of production factors bought by business companies that produce and sell goods in return. The role of the state or government is to take a part of the earnings from companies and households for use to pay for “public goods” such as streets and public education.
The most common subject areas in the study of microeconomics include Elasticity, Income Distribution, Monopolies and Oligopolies, Labor Markets, and Supply and Demand, and in macroeconomics, Money, Banking, Economic Growth, Tax and Fiscal Policy, Aggregate Demand and Aggregate Supply. Many of these areas, if not all, are offered in most colleges and universities in their undergraduate and graduate programs. In the University of Toronto in Canada, for instance, the focus of its undergraduate program is core economics courses like Introductory Economics, Intermediate Microeconomics, Intermediate Macroeconomics, and Quantitative Methods in Economics. At the Harvard University’s graduate program under the Department of Economics, the study prepares graduates for teaching and research, and for responsible positions in business and research organizations and in the government. Aside from Harvard, among the top institutions offering economics curriculum are the Stanford University, Yale University, University of California, University of Iowa, Cambridge University and the London School of Economics and Political Science in the United Kingdom.
Why, therefore, should you study economics? Not only does it prepare graduates for careers in business, education, foreign service, journalism, and consulting and politics, but it is also personally useful as viewed as the foremost social science in the world, a dynamic field that provides an understanding of how the world moves and works, and it helps people make better choices in their day-to-day activities.