Study Bachelor of Economics (Hons) in Malaysia
Have you ever wondered why the cost of food rise when the government increases the petrol prices? Have you wondered why the weak economy in another country can affect the rest of the world?
You wonder why your Grandparents keep telling you what they can buy for 1 cent back in their day and now you cannot buy anything with that? All of these can be explained through economics.
Economics is the study of the production and consumption of goods and the transfer of wealth to produce and obtain those goods. Economics explains how people interact within markets to get what they want or accomplish certain goals.
Since economics is a driving force of human interaction, studying it often reveals why people and governments behave in particular ways.
There are two main types of economics:
Microeconomics focuses on the actions of individuals and industries, like the dynamics between buyers and sellers, borrowers
Macroeconomics, on the other hand, takes a much broader view by analyzing the economic activity of an entire country or the international marketplace.
A study of economics can describe all aspects of a country’s economy, such as how a country uses its resources, how much time labourers devote to work and leisure, the outcome of investing in industries or financial products, the effect of taxes on a population, and why businesses succeed or fail.
People who work in economics are called economists. Economists seek to answer important questions about how people, industries, and countries can maximize their productivity, create wealth, and maintain financial stability. Because the study of economics covers many factors that interact in complex ways, economists have different theories as to how people and governments should behave within markets
As you can see, economics shapes the world. Through economics, people and countries become wealthy. Because buying and selling are activities vital to survival and success, studying economics can help one understand human thought and behavior.
Economics surrounds us and is present in almost every area of our lives. Studying the degree in economics allows graduates to understand the world we live in and how it functions. Economics is about understanding why people make decisions and the allocation of scarce resources.
Although the behavior of individuals is important, economics also addresses the collective behavior of businesses and industries, governments and countries, and the globe as a whole. Economics students in Malaysia learn everything from what determines the price of goods and services to why the average standards of living are different within Malaysia as well as between countries.
Economics is at the heart of many issues and problems facing the world today, from poverty and unemployment to inflation, the
challenge of sustaining economic growth and the interplay of government, business and financial institutions. The modern discipline also relies heavily on mathematical and statistical techniques, which are therefore a central component of most economics degrees.
Economics purports to be a scientific discipline meaning that it uses abstract mathematical models to capture the essential features of more complex real world processes and tests the validity of these models against available economic data. Studying economics is therefore about developing problem-solving skills, including mathematical and statistical techniques, acquiring general analytical skills and writing lots of reports.
Not many private universities offer the degree in Economics in Malaysia. HELP University is renowned for top business courses and offers the Bachelor of Economics (Hons) for students who desire to have a successful career in the financial world.
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