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The Misunderstood World of Economics

Sep 1st 2014

If a person wishes to become wealthy and retire early, then it only makes sense that the person takes a qualification in economics. How better to become wealthy than to study how money works! Though the study of economics doesn’t translate directly into wealth, it is at least a good start. In comparison, just because a person studies the art of seduction, it doesn’t mean that person will become a prolific lover, but if you wish to become wealthy, then studying economics is better than taking a spin class.

Doing more than memorizing words

An economics course should be about more than memorizing the esoteric terms within the industry. That is no better than a student walking up to a smart kid and saying, “Write my essay whilst I learn a few words.” It should help a person understand how an economy works and how money works. It should help students recognize how wealth works so that the person understands what happens to their money when markets fall, or what happens to it if they leave it under their mattress for years.

Understanding how wealth works

Economics is more about liquid cash. It should help a student understand what wealth really is. It should help a student see how somebody may be wealthy and yet not have two pennies to rub together. It should also show how the effect of one country’s GPD or currency will affect the money they have saved in their bank account.

Economics is only a part of business

There is a slight misconception that economics is a purely business matter, but it is not, nor is an economics qualification a guarantee of business success. Things such as social studies and psychology are part of business too, yet nobody expects a social studies major to be a business success, so why think the same of an a degree holding economist? 

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