Scope of Study Economics In Our Life And Society

Indeed, Scope of Study Economics is very important, in order to regulate family economic issues.Economics is one of the branches of science that focuses on the discussion of economic issues. In general, economics is a science that learn all forms of ways or systems and human behavior in an attempt to meet the needs of life.

There are several goals to study economics, in general there are several objectives of learning, among others:

Understand the relationships  between the  economy. (causal relationship / functional relationship)

By studying economics we can find out what the relationship between  existing economic events. We can be wise in  in the field of economy by knowing the relationship of economic events.Suppose that when inflation occurs the government implements a policy where money circulation of money  is decreased. In addition, when many parties do not pay taxes then the policy will also be applied by the government to overcome such things as the provision of sanctions and others. You need to know problem solving tools  to overcome all the problems that exist in economy.

Train someone in developing their creativity  live independently.

if we want to have the ability in order to establish entrepreneurship then we must study the economics first. By learning it we know how we can entrepreneurship how we run it and so forth.

Helping humans in knowing the potential of the surrounding nature.

Nature becomes one of human companions in every state of life. But there are still many people who have not been able to recognize the potential of the natural surroundings. So that nature will not be able to produce something good for humans. By studying the economics, a man will be able to  discover the potential around them so that they are able to make remarkable result.

Train human life management, both time management, money management and others.

In this life we ​​as human beings need  management for the arrangement of life. Imagine when we are not managing our lives it will be a mess. That’s why it’s important for us to study economics, because by learning it we can know how our lives can be managed effectively. Money management has very important role in our lives. With the help of economics we can consume money in better way.

Scope of Study Economics Is Regarded In All Sector of Life

Traditionally, and for the most part even today, economics has focused on the market and on the government. In the market, goods and services are sold. Government is itself a major buyer and seller of goods and services and is also an agent that regulates and otherwise influences the economy. Only in recent decades have mainstream economists devoted any significant attention to the allocation of time within the household itself, and even now such material is not always included in general economics courses. Also, the value of non-market household production is ignored when aggregate indicators of economic welfare, such as Gross National Product (GNF), are computed. This is a matter for concern because women play the dominant role in the non-market sector.

The typical introductory economics course in its microeconomics section puts primary emphasis on the analysis of product market transactions with the firm as seller, concerned with maximizing profits, and the household as buyer, concerned with maximizing satisfaction or utility. Later it introduces markets for factors of production, specifically labor, in which the household is generally the supplier and the firm the purchaser. As a rule, however, this discussion is a brief portion in the section on factors of production, and most students may well come away with a view of the market as chiefly an institution where goods and services arc supplied by businesses, and the demand for them comes from the household.

In a market economy, the forces of supply and demand for labor determine both the jobs that will be available and how much workers will be paid for doing them. Much of our analysis throughout this b<x»k will he concerned with the determinants of the supply of labor We shall examine how individuals and their families decide to allocate their time between housework and market work and how women’s changing roles in this regard are affecting their own well-being and that of their families.

Demand is essentially determined by the behavior of employers, who are in turn influenced by the business climate in which they operate. In the simplest case, their goal is to maximize profits, and their demand for labor is related to its productivity in making the goods or producing the services sold by the firm. Thus, the firm’s demand for labor is derived from the demand of consumers for its final reluctant. It is. however, possible that employers depart from the dictates of profit maximization and consider aspects of workers that are not directly related to their productivity. Discrimination against women in the labor market and its role in producing economic inequality between women and men is another topic that we shall explore in some depth.

On the supply side, workers may influence their productivity by attending school or getting training on the job. We shall also consider the determinants of such human capital investment decisions and their role in producing pay differences between female and male workers.

Benefits of Studying Economics And Economics Objectives

1. Every man must try to regulate the needs of his economy, therefore economics plays an important role in the sector of human needs.

2. Economics plays an important role for a region, both small and large areas such as the state, because this science can improve the living standard of Human Resources.

3. Economics plays an important role in regulating the principle of social / community basic needs.

4. Studying economics can train a person to be social and soulful (meticulous) and economical.

5. Studying economics can train a person to be able to manage or manage the nominal value well and wisely.

6. Studying economics is very important, and the main thing for every society especially in the scope of family, the goal is to be able to carefully set the priority scale needs of the most important / urgent needs first.

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