Economics Essay

743 Words2 Pages
bulb-icon

Recommended: Why economics is important in our daily life

Economics is an integral part of society whether this involves governments allocating scarce resources or individuals deciding on how to spend their limited income; utilizing limited resources is such a pervasive part of everyday life. Pondering upon this it is easy to sort out how everything is related to economics. Every shop we pass by, every argument we hear, our precedence; everything is linked with economics. It is this omnipresent nature of economics that captured my interest. My interest in economics came forth when I first studied it at my GCE O Levels. I was astounded by how accurately economic theories describe what happens around us in our everyday lives and how even the most minor decisions that we make are governed by economics. Every time I pick up a newspaper or watch the news, economics is there. The opportunity to study this diverse and dynamic subject is a huge desire and ambition of mine, as it plays such a big role in the world we live in and impacts upon everyone and everything.

My passion for Economics was dampened when I discovered that Mathematics, my least favorite subject, was going to be an essential part of further studies in economics. I used to detest Mathematics and never practiced it, but a few months before my GCE O level exam I realized that I had to do achieve a good grade in Mathematics to realize my dream of a degree in economics. My passion for economics compelled me to focus on Mathematics and my efforts were rewarded with an A star in my GCE O Level result. I, grudgingly, took Mathematics as an A level subject, but my new teacher encouraged me and coaxed out my innate potential, I discovered that I had a flare for Pure Mathematics and since then i have not achieved a grade lower than an A...

... middle of paper ...

...lization at work. This experience also enhanced my management and communication skills.

I spend my leisure time in playing football, reading books, swimming, watching movies and playing games. I have a secret passion for acting and am very impressed by Hollywood. I once participated in a play and earned an honorable mention. I have never before considered acting seriously but now I feel that if I focus on honing my acting ability I can become a good actor.

Today I stand as a vigilant student looking forward to a deserved, a chance to contribute to Economic progress and to deliver my knowledge to others to the fullest extent possible. I really look forward to exploring Economics at university level and using my talent talents in Economics to flourish my career. It would be highly inspirational to get recruited as a student of Economics in your prestigious institute.

Show More
Related

  • Greed And Incentives Essay

    938 Words  | 2 Pages

    Greed and incentives are two terms that each play a role in the other. Incentives are sometimes rewarding and sometimes punishing. Greed is intense and selfish, but is it really bad? By looking at it from an economical perspective, one can see how forms of greed and incentives play a crucial role in the free market society.

    Read More

  • Behavioral Economics Essay

    1265 Words  | 3 Pages

    In this paper I aim to tie the concepts of behavioral economics to issues in health economics. The goal is to use economics and psychology to explain how patients or physicians stray from the assumptions of the standard economic theory. In it through behavioral economic concepts that help researchers analyze and forecast patient or physician behavior. Behavioral economics has neumerous applications in the medical care field and these ideas can be used to create better health outcomes and stronger policies. I will be observing the economic issue of asymmetric information in certain spaces in the medical care field. According to the standard economic theory decision makers are fully informed have rational preferences with the aim to maximize utility. Behavioral economics literature examines patient and physician decision making through a variety of lenses such as the concepts of radical uncertainty and visceral factors. Through research and observation it is only “rational” to apply concepts of behavioral economics. In this sector uncertainty hovers above every decision where patients have limited information that influence decisions in the environment of fear make choices in the context of fear and trust in the physician. Every situation the medical field is unique to its own and this creates a great deal of uncertainties. These uncertainties can infiltrate decisions about diagnosis, treatment and prognosis. Since this is such a broad subject I will narrow it down to a few topics to explain the ideas. I will try to show patient and physician decision making capacity in risk situations and use the example of end of life care to make the argument tangible.

    Read More

  • Transforming Your Paper into a Presentation

    1045 Words  | 3 Pages

    However, economics is relative to everyone’s life. We can still feel the wound of financial crisis up to today. It’s useful for everyone to learn something about economics.

    Read More

  • Monetary Policy

    1670 Words  | 4 Pages

    The Economy is the backbone to society. There are many factors that operate in, and govern our society’s economical structure. Factors such as scarcity and choice, opportunity cost, marginal analysis, microeconomics, macroeconomics, factors of production, production possibilities, law of increasing opportunity cost, economic systems, circular flow model, money, and economic costs and profits all contribute to what is known as the economy. These properties as well as a few others, work together to influence the economy. Microeconomics and Macroeconomics are two major components. Both of these are broken down into several different components that dictate societal norms and views.

    Read More

  • Pursuing My Studies In Economics, Accounting And Law At A-Level

    562 Words  | 2 Pages

    Many people fail to realise the importance of our economy, how diverse and interactive it is to our daily lives and the distinct role it plays in our constantly evolving economic climate. My initial interest stemmed from my lack of knowledge about the UK economy; resulting in the research about our recent financial crisis and from there it grew tenfold. I began to observe the situations around me from a different perspective, and with the help of micro and macroeconomic objectives, which are the fundamental foundations; I have been able to pursue this social science in far greater depth and understanding. It is a growing ambition of mine to explore what effect daily transactions and the conduct of millions of people like me has on our future in a domestic and global aspect. Further developing my study of economics will ensure I am able to explore such views to a higher level.

    Read More

  • Fiscal Policy Essay

    568 Words  | 2 Pages

    Everyone has their own political leaning and that leaning comes from one’s opinion about the Government. Peoples’ opinions are formed by what the parties say they will and will not do, the amounts they want spend and what they want to save. In macroeconomic terms, what the government spends is known as fiscal policy. Fiscal policy is the use of taxation and government spending for the purposes of stimulating or slowing down growth in an economy. Fiscal policy can be used for expansionary reasons, which is aimed at growing the economy and increasing employment, or contractionary which is intended to slow the growth of an economy. Expansionary fiscal policy features increased government spending and decreases in the tax rates as where contractionary policy focuses on lowering government spending and increasing tax rates. It must be understood that fiscal policy is meant to help the economy, although some negative results may arise.

    Read More

  • The Role of Economics in Sports

    5002 Words  | 11 Pages

    Economics is the study of how best to allocate scarce resources throughout an entire market. Economics affect our lives on a daily basis, whether it is on a business level or a personal level.

    Read More

  • Different Types of Unemployment

    1050 Words  | 3 Pages

    Tragakes, E. (2012). Economics for the IB diploma (2nd ed.). Cambridge, UK: Cambridge University Press.

    Read More

  • Why Study Economics Essay

    1241 Words  | 3 Pages

    The economics, as an independent subject has already existed in this world for a long time. Maybe some people believe that the knowledge which is contained in economics is so far from them that it is not necessary to consider about is. Actually, economics always hides in our daily life and effects decisions what we made. Once I have hold the same opinion of economics is not really my business, but I do not think like this any more after I studied this subject. Economics no longer acts as an abstract terminology lying on the textbook far away from me, this word became meaningful and I am sure it will make some changes not only in my mind, but also in my future life.

    Read More

  • Free College Admissions Essays: Passion for Economics

    445 Words  | 1 Pages

    The crucial importance and relevance of economics related disciplines to the modern world have led me to want to pursue the study of these social sciences at a higher level. My study of Economics has shown me the fundamental part it plays in our lives and I would like to approach it with an open mind - interested but not yet fully informed.

    Read More

  • I Want to Pursue a Career in Economics

    516 Words  | 2 Pages

    In today's world, economics associated disciplines are of fundamental significance and application and this has encouraged me to pursue a degree in Economics. Economics has an important relevance in all of our lives. As consumers we try to make the best of our limited incomes. As workers we take our place in the job market. As citizens of a country our lives are affected by the decisions of our government: decisions over taxes, decisions over spending on health and education, decisions on interest rates, decisions that affect unemployment, inflation and growth. As dwellers on the planet Earth we are affected by the economic decisions of each other: the air we breathe, the water we drink and the environment we leave for future generations are all affected by the economic decisions taken by the human race. It is these stimulating issues that excite me about economics. I enjoy studying Economics enormously and believe my passionate interest in economics is continually strengthened by my regular reading of 'The Economist'

    Read More

  • Macroeconomic Objectives Essay

    1754 Words  | 4 Pages

    The economy tend to move from boom to recession, it is difficult for government to maintain and achieve macroeconomics objectives. At this time, there are “conflicts between government macroeconomic objectives”, which is this extended essay main theme. This essay will look at the government macroeconomic objectives, the conflicts between macroeconomics objectives, the best policy or mixture of policies to minimize the conflicts between macroeconomics objectives and recommendations, which are classified as main objectives and additional objectives.

    Read More

  • Essay About Greed

    1034 Words  | 3 Pages

    There is a little too much greed going on in society. My definition of greed is when a limitless person selfishly wants something and the obsessive addictions is that enough is never enough. The dictionaries definition is ‘an inordinate or insatiable longing, especially for wealth, status, and power.’ People do not realize that greed concentrated too much on earthly thoughts. People think the need of wanting something is just a thought, however if you continue to think about it, eventually the person will find a way to allow greed to take over the thoughts. Greed can make a man, but it can also destroy him ten times over. It is one thing to want money or materialistic ideals, but the necessity almost unavoidably becomes greed. Greed is something

    Read More

  • Personal Application: The Application Of Mathematics In Real Life

    872 Words  | 2 Pages

    Additionally, the challenge that I came across as I encountered different mathematical and economics problems at my latter stages of life contributed greatly towards cementing my desires to further my education in both mathematics and economics at your prestigious institution. Economics happens to be a fundamental part of humans’ daily living and the current economic crisis have triggered my desire to have appropriate knowledge about the

    Read More

  • Economic Growth Essay

    700 Words  | 2 Pages

    Economic growth is one of the most important fields in economics. In current generation economic is developing well. Economic growth is really important to country and for the world as well. Economic are one of the identity for country because it shows a country development and attraction for other countries (F, Peter. 2014). For example well economic develop such as Singapore, Dubai, New York, and Japan. These countries are well develop and maintaining their economic growths. Economic growths are really important because higher average incomes enables consumers to enjoy more goods and services. Then, lower unemployment with higher output and positive economic growth firms tend to utilize more workers creating more employment. Enhanced public

    Read More

More about Economics Essay

Open Document