Why do we study Economics? What does the Government have to do with it?

Question

Do we really have to study this. What does Math, Science and Language have to do with it?

Answer 1

Economics his highly important to learn.  It can help you understand much of the world.  First it can help you understand current economic problems.  Also, it can be used to comprehend and gain further knowledge in other issues too- including injustices, wars (many of which have economic causes), and yes even terrorism (a economics professor/adviser wrote a book about economics relation to terrorism- Economics of Terrorism).  On a more closer, personal level, economics will help you in your daily life- it will help you consider the costs and benefits of actions- whether it is buying milk at a supermarket or deciding whether to go to a concert or going to another show (due to costs you have to ponder).  It will also help you think in an economic, cost-effective way.  Furthermore, it can help you learn how to :) balance budgets, something you need in real world.

Math- There are equations in economics.  In addition, there many different graphical representations- graphs.  Math is also used in projections and numbers are a big part of econ.

Economics is a social science.  Another user is right, it is a science. ANd it uses theories.

Economics...:) you ask how does language relate?  Well its kind of a language within itself.  Its not a foreign language, even though it may sure feel like foreign one at times lol.  But its interesting..and what do I mean by it being language?  Well kind of how math is a lanugage that explains mathematics and science for how the world works (scientific views. of course religion goes 'against' some of science according to many, but that's different issue). In addition, many different topics are like this.  Econ is the same.  Its a language..a language which explains economic choices and how people make decisions.  Specifically its how people (and governments too) make decisions on what to do (allocation, etc- distribution) of resources (and they're scarce).

Answer 2

The reason you might want to study economics is so that you will not become as ignorant as the government.

Answer 3

You study economics becuase it is important in every day life. The government has everything to do with it.

Answer 4

Economics is the study of the efficient allocation of recources.  I think it is important in that it offers a great insight into the way the world works.  It teaches critical thinking, logic, and decision making skills.

What does the government have to do with it?  Most everything the government does affects the economy in some way shape or form.  If the economy is 300 million americans producing, selling, and buying things then everytime the government charges taxes, introduces regulations, or changes monetary policy then the economy will be affected which ultimately affects every citizen.  It is important for voters (future or present) to know how what the government does affects them and others.  

What does Math have to do with it?  A lot of economics uses math to create "models" to understand a concept or to attempt to predict an outcome.  The same way a builder might build a model before starting construction, an economist might make mathematical models to provide, businesses, governments, or individuals the best information they can before they make thier decisions.

What does science have to do with it?  Economics should be held to a scientific standard, meaning it should be fact and evidence based.  As with other sciences, economists develop theories, run those theories through rigorous testing and compare the results against what they expected to happen.

What does language have to do with it?  I not sure that it does have anything to do with it other than it is taught in a spoken or written language.  There is terminology involved.  Maybe that is what you meant?