Topic: Does studying Economics in School make one to be economical or what (Read 349 times)

Well, i guess it helps to study economics but it is not necessary. Experience and learning from other people can really help. In these modern times, you can access information from the internet.

That doesn't make a person to become economical in litteral life which we're going to live by purpose. If someone studied economics, everything will be learned through theoritical aspects that could provide him knowledge towards business operations, like handling financial situation of a certain funds that made the business run successfully. Partly, crypto needs this to be part of every persons lives in order to gain knowledge as a whole, and can he applied to their own crypto business.

Absolutely right, studying economics in school will definitely give you understanding of basic of Economics and how to manage your personnel finance but it doesn't make you Professional Accountant. By the wat economics has  very very large spectrum and it affects our life positively or negatively in every role of our life. That is why all governments try to improve economic condition of the country to improve their citizens quality of life.

And economic scope has quite a bit of such a scale, time in school can only be a microcosm at the most basic level, quite a lot of other knowledge is waiting, economics is just a basic point and need to know, maybe the teacher will mention management and how to spend and save but as someone with a college student period, these theories make me very sleepy and less interested. The most economical can only be a social subject and learned when we live in a working environment and have a monthly salary

Nope, only degree related to economics can give you an idea about the finance so all thise general studies in the school is here for nothing. Even people who studied economics are not master in the finance because it needs experience as well along with the knowledge indeed.

If you are talking about financial literacy, it is definitely essential for schools to have such a subject. As without it, when children grow up they don't know how to handle money, so we see so many poor people. That is why economics is essential. Our children must know how the market works, how to use bank accounts and how to earn money! In my country there is no such subject at school, that is why it is an obligation of parents to teach their kids.

What do you mean by being 'economical'?

I find this question very difficult to answer as it does not provide any further details but studying economics can definitely help you understand the fundamentals on how the economy works. If you know the basics, history, origin, and the theories, it can help you arrive at a decision in terms of your finances either short/long-term. Although this may help, studying economics as a major is not entirely essential as people can learn using various textbooks or videos on the internet.

As an analogy, in order to understand the market further, it is very important if you first handedly experience it like driving. No matter how many times you read about driving, the only way to learn is to actually do it.

Lots of the useful things taught in economics are knowledge people know "instinctively". They are just there in the knowledge store for humanity and other creatures. Once you need to know and ask, you obtain them if you are qualified.
That's basically how it's in other field of life. Every good thing that needs to be invented/created by the creatures is already there waiting for someone who need to know and deserves it. People just "discover" what has been designed and stored for them to discover. If this generation completely disappears, another one could arise and discover thesame thing, assuming it is destined for the generation to know otherwise they will never know.

You should make your question more specific to have better interactions and responses from the users here in our community. Your question is somewhat broad and it doesn't convey the straightforward subject. But if you're pertaining to being wise in spending money, my answer would be yes and no at the same time.

Yes, because the principles, beliefs, ideas, and learnings imparted to you at school while studying economics can definitely help you hone your perspective about spending, saving, and investing. It will teach you how to manage your finances well. You have the edge over the people who didn't study economics because you know the basics, fundamentals, and in-depth knowledge about it. You can always utilize what you learned in your favor. For an instance, in entering ventures that's related with money, you know what to do because you have studied the laws and principles in supply and demand, the market flow, and the likes.

However, it's also not always like that. The other side would be, studying economics would not really make you economical because it still lies in your personal preferences and the habits you built along the way. If you are undisciplined, then, being economical won't be one of your traits since you are used to not being frugal. The learnings taught to you won't be as valuable because you don't practice it before. You may also have a hard time being financially literate because like what they say, bad habits die hard. Although, it's just really up to you honestly. Some people who didn't study economics are actually very wise in spending and handling money.

I think that besides understanding, you also teach them awareness of different things that they can use in real life to make a stable economic life.

the influence of school on a person's habits is very large, I'm sure 70% of those who study economics are more economical. I don't study economics, but I often read books about economics, which makes me good at managing my finances and expenses.

You won't totally be economical but you have all the fundamentals to guide become such one. And simply studying economics in school is not good enough. You have to go out from your shell and research and explore the factors that will help you to go through in it. In the end, it all matters in your own life's application and the outcome would reflect how you understand all what you have learned in school.

I am teaching economics at the university. Let's just say it provides a basic understanding of how economies work, how cycles work, when and why a recession occurs, and when an upturn occurs, and due to what.
In particular, all this is shown through examples of history. How useful this information will be will depend on your future occupation.

It could definitely but there's a small percentage in that group of people that studies Economics in school to not become economical themselves which is understandable given that not everyone is interested in Economics but at the very least it makes them aware about the subject and the things that it teaches.

Yeah,we've seen those kind of people that who didnt really step into college nor in school but turns out to be successful because there are ones who do persevere on learning up things

which these people did really succeed and attained up assets and success in life more than into those people who had finished college and have diploma.It all matters on

on how you do deal with the  challenges in life and so self learn and make action and good decisions for you to able to at least make some progress in your life.

With anything in life you can't really learn about something from and objective point of view, every thing that is learned in theory can not be applied to real life, especially in domains like economy where everything is constantly changing and markets are always moving, you have to experience things on your own in order to form your own opinions and make your own decisions, i for example have a degree in  busies management and what i have seen on the field is way off from what i have leaned from collage.

As with anything else you have fools with doctorates and you have geniuses who never stepped foot in a college.  It's all dependent on the person.  Given the same person I would have to think it only helps but if that same person is inclined to learn about a particular subject you don't necessarily need a school for that.

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.

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.

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.