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Market Oracle FREE Newsletter


Why Every Student Should Study Economics

Personal_Finance / Education Feb 26, 2020 - 06:28 AM GMT

By: Submissions


Every student wants to boost their employability in every industry, regardless of what major they are going to pick. With all the different college majors to choose from, it’s no wonder who students often ask themselves why economics is important.

Since everyone wants the best future and job, people first research the reasons to study economics before they make the final choice. But, the question is, what makes this major any different from social sciences, health, psychology, or engineering? Why should students pick this one over any other?

5 Reasons to Study Economics in 2020

More than 19% of the entire freshman population choose to study business, research shows. Compared to 11% interest in health and medicine programs, 9% social studies, and 6% in psychology, it’s safe to say that there is no other sector that is more popular than business.

For students who wonder why study economics, such high interest may seem uninviting. After all, it overcrowds the job market, so it would be more difficult to get any job after graduation. Or will it? Well, what if we told you there is no reason for you to doubt this sector? Here, we will show why.

 1.   Your Business Degree Provides You the Best Possible Future

To know why you should pick this sector, you first need to know how to understand economics. One of the primary reasons to study economics is salary. According to recent research, all economic majors significantly outpace any other major in terms of lifetime income. Different research also supports the same results, stating that lawyers with a degree in economics will earn a lot more on a yearly basis than other lawyers.  Based on an analysis, students who’ve majored in economics have a higher chance of becoming CEOs in the future, making it the best possible option for any long-term goals.

2.   You Will Contribute and Reshape the Current Market

Students who know how to study for economics already realize what it could bring. There are many examples as to why one should choose this sector. The best and most impactful reason is that you will learn the core policy topics that shape all social outcomes and the market. You will learn the effect of a market collapse, trading, the impact of inequality, welfare, and more. If you are writing an essay on an animal farm for your college studies, you might want to take a look at some samples before you get down to writing. If you have any animal farm essay questions, it’s a good idea to check out StudyMoose. With examples such as these, you can see the format of how an essay should look and find some inspiration to write yours. Checking out samples such as these can be very useful for any paper you have to write for college, even on business topics.

3.   You Acquire Expertise That All Employers Need

Another reason why economics is important is the set of capabilities and expertise you’ll acquire. Any economics major you pick will teach you the skills to solve impossible challenges, to become analytic, and learn to develop critical thinking. By writing papers on different topics, even not closely related to economics, like for animal farms essays, you will learn to assess valuable data that can help you make solid decisions. This is a highly valued skill-set for employers.

4.   You Have Excellent Job Prospects

Even though a huge percent of the population decides to choose business as their major, you will still have plenty of opportunities to get a solid and well-paid job. Your degree will be highly valued in multiple industries. Here are a couple of examples of the positions you can go for:

Jobs directly associated with your degree

Jobs indirectly associated with your degree

Economic consultant

Data scientist

Market research analyst

Policy officer


Credit analyst



economic expert


Estate agent



5.   You Will Not Overspend Your Earnings

An additional reason as to why economics is important is self-regulation. People who understand the market and willingness to pay, can make better decisions and maximize their income rather and even save some of it for retirement. This is something that can come in handy for the future.


For any student looking to pursue a career, economics makes for the best choice. With all the benefits and prospects it can offer, it has plenty of potentials. If you are wondering why to study economics, these reasons can help answer that question for you.

By Linda Heard

© 2020 Copyright Linda Heard - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

© 2005-2019 - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.

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