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Economics Case

Essay by   •  April 25, 2012  •  Essay  •  365 Words (2 Pages)  •  1,062 Views

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Economics is the science that deals with the productions, distribution, and consumption of goods and services. Without a scientific method of approach to the world's transactions our economy as we know it would not exist. A scientific method makes money work as efficiently and as fairly as possible for all, as said by a famous philosopher "By virtue of exchange, one man's prosperity is beneficial to all others" (Frederic Bastiat). People respond to incentives given to reach equality and efficiency as the goal of the economy.

I currently am enrolled in Microeconomics and Macroeconomics to obtain general knowledge of economics. I plan to use the skills I obtain in this class to further my knowledge of economics by taking a higher level class. Some people are attending this class because they have to, and I do as well, however, I also need to get the most out of this class as I can due to it coinciding with what I wish to do with my future. With a minor in Business Administration, Micro and Macroeconomics are very important stepping stones to obtaining this.

Equality and efficiency are two critical factors in economics. There is a balance that needs to be maintained between the two. The relationship of equality and efficiency is hard to keep as close as possible, but when achieved, a successful economy is created. I believe that by attending a class such as Micro or Macroeconomics will help me further my role in helping our world and placing positive impact on today's society.

I believe that economics holds the key to a successful life. The people of the economy today need to work for a better economy for tomorrow as those before them created the economy they live in now. If everyone does their best at improving the economy, it will progressively become more successful. I believe that the education of the economy is crucial, especially in today's economy. The education of the economy is the answer to fixing its existing problems and strengthening it for the future. Combining education and economics is the key to success for our future.

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