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Why study Economics?

why study economics


The starting point for me was when I studied Edexcel A-level economics. During class, I often wondered how I could train myself to absorb microeconomics and macroeconomic concepts and witness their transparent transition into the world around me. I also wanted to test the spirit of academia and see how far it would take me in the real world. 

Fast forward 10 years - what did I learn from A-level Economics? 

The first thing I learnt was that academia is like a fast track process and more time-efficient way of learning ideas, provided you have the resources. For example, economics revolves around the idea of how people and make decisions and choices. As economists, we create simplified models to predict these choices but it's almost like comparing a surreal painting to reality. 

The second thing I learnt was that schooling also has its limitations and it's ultimately a lifelong learning attitude that one needs to adopt to ultimately succeed. For example, it was only at university, I finally realised the importance of accounting, its principles and processes that are required to keep businesses organised and accountable. 

The third thing I learnt was that microeconomics and macroeconomics complement each other and to enjoy the exciting marriage between the two you need to practice impartiality - particularly if you wish to pursue economics in higher education. Both pillars of microeconomics and macroeconomics need to be strong. 

What am I currently trying to figure out in my BSc Economics and Management Degree from LSE? 

The confluence of economics, management and technology is triggering a passion in my nerves to expedite my learning curve in these disciplines. It's not just the modern trends of data science, artificial intelligence, machine learning, the new paradigm of data-driven marketing. But, the economics dialogue is about being true to the central proposition of how big data from wide and varied sources - right from embedded systems in our smartened white goods and smart devices like Amazon's Alexa and Google Home -  is going to help us predict and perform better as economists?


 












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