What kind of issues economists are studying

Improve your marketability and meet emerging employers' needs with an advanced degree. What is Economics? Economics is More than Numbers. Types of Economists. American Economic Association. Economics is Personal Microeconomics.

Learn More About Microeconomics. Economics is Universal Macroeconomics. Learn More About Macroeconomics. Economics is for You. Baumol, William J. Economics: Policy and Principle. Harcourt Brace Jovanovich, Inc. Skip to content Readability Tools. Reader View. Dark Mode. High Contrast. Reset All. Publications Why do we need economists and the study of economics?

July Nordhaus, who define economics as follows in the edition of their well-known text, Economics : Economics is the study of how societies use scarce resources to produce valuable commodities and distribute them among different people.

More broadly, an economics degree helps prepare you for careers that require numerical, analytical and problem solving skills — for example in business planning, marketing, research and management. Economics helps you to think strategically and make decisions to optimise the outcome. Especially in demand are people who have studied Economics and Finance as they are particularly well-prepared for jobs in banking and the financial sector, such as in accountancy firms.

The well-developed methodologies used in the economics profession have helped the subject expand into providing tools for other disciplines, such as politics, law, health, education, management, and many others. Some worry that by using the approaches of economics, the assumption is being made that people are rational in the way they behave. To counter this, economists are bringing in insights from behavioural science, psychology, and neuroscience. This is a new field and is about analysing large volumes of data to identify patterns, and so help businesses or governments make better decisions.

This could be, for example, in relation to customer behaviour, the spread of diseases, crime patterns, or trends in financial markets. With the plan for an integrated ASEAN Economic Community among the 10 nations of South East Asia, there may be demand among central banks and governments for financial economists who can identify and manage risks and develop financial regulations to meet the needs of the new market.

Graduates may also use postgraduate study as a route to gaining professional qualifications required to work in certain career areas, such as accountancy or other financial professions.