WHY STUDY

ECONOMICS ?
IS IT REALLY IMPORTANT …
DID YOU KNOW…

ECONOMICS IS SIMPLY
A SOCIAL SCIENCE
THAT FOCUSES ON
THE CHOICES PEOPLE
MAKE.
 KNOWING ABOUT ECONOMICS CAN HELP
US UNDERSTAND WHY PEOPLE MAKE THE
CHOICES THEY DO

• WHY DO SOME PEOPLE CHOOSE NOT

TO GO TO COLLEGE?
• WHY WOULD SOMEONE BUY A MORE
EXPENSIVE PRODUCT WHEN A
LESSER PRICED GOOD IS AVAILABLE?
• WHY WOULD SOMEONE DRIVE TO
FLORIDA WHEN THEY COULD FLY?
 ECONOMIC REASONING IS EVERYWHERE,
APPROPRIATE, AND ALWAYS USEFUL

• IT CAN BE USED BY ANY AGE GROUP

OR CULTURE, IN ANY SITUATION OR
CONTEXT. 
• THE INSIGHTS IT PROVIDES ARE
POWERFUL AND CAN HELP YOU MAKE
SENSE OF THE CONFUSING WORLD
AROUND YOU.
KNOWING ABOUT ECONOMICS CAN HELP
US UNLOCK MYSTERIES OF
HUMAN BEHAVIOR

• MANY MYSTERIES CAN

BE SOLVED BY
LEARNING HOW TO
IDENTIFY INCENTIVES.
 WE CAN ANSWER QUESTIONS LIKE…

• WHY IS DISNEY WORLD CLEANER THAN LUNETA

PARK? 
• WHY IS BUYING “REAL” CHRISTMAS TREES (RATHER
THAN ARTIFICIAL TREES) BETTER FOR THE
PRESERVATION OF TREES AND FORESTS? 
• WHY DO SO MANY PATRIOTIC AMERICANS NOT VOTE
IN PRESIDENTIAL ELECTIONS?
• WHY IS A LEGISLATED INCREASE IN MINIMUM WAGE
BAD NEWS FOR POOR, LOW-SKILLED TEENAGERS?
 BY UNDERSTANDING ECONOMICS, WE CAN
DISPEL COMMON MYTHS AND
MISCONCEPTIONS.

• ECONOMICS IS ALL ABOUT INSTITUTIONS

AND MATHEMATICAL MODELS
• ECONOMICS IS ALL ABOUT MONEY
• BAD CHOICES HAVE COSTS BUT GOOD
CHOICES DO NOT
• SOMETIMES PEOPLE JUST HAVE NO
CHOICE
 WITH ECONOMIC KNOWLEDGE, WE CAN
UNDERSTAND THAT THINGS ARE THE WAY
THEY ARE FOR A REASON.
• WHY IS THE DEMAND FOR NINTENDO WII’S
SO GREAT?
• WHAT IS THE PRICE WHERE THE SUPPLY
MEETS THE DEMAND?
• WHY DO SO MANY PEOPLE DISLIKE
MONOPOLIES, BUT EVERYONE SEEMS TO
WANT TO BE ONE?
• HOW CAN BUSINESSES STAY IN BUSINESS
WHEN THEY DON’T EARN A PROFIT?
KNOWING ABOUT ECONOMICS CAN HELP
US UNDERSTAND SOCIETY AT MANY
DIFFERENT LEVELS AND HOW IT ALL
CONNECTS.
• HOUSEHOLDS
• BUSINESSES
• COUNTRY
• GLOBE
 WE CAN UNDERSTAND
GOVERNMENT BETTER.
• WHY ARE TAXES NECESSARY?
• HOW IS THE ECONOMY AFFECTED BY
THE GOVERNMENT?
• HOW DOES THE GOVERNMENT
ARRIVE AT ITS ECONOMIC POLICIES?
• WHAT TYPES OF ECONOMIES DO
OTHER COUNTRIES HAVE?
WHY DOES THE GOVERNMENT SOMETIMES
REGULATE WAGES AND PRICES?
 KNOWING ECONOMICS CAN HELP US
THINK RESPONSIBLY ABOUT ECONOMIC
ISSUES.
•Are there times when
global interests should
come before national
interests -- and what’s
the difference
anyway?

• DO WEALTHY CORPORATIONS HELP THE ECONOMY OR HURT

THE CONSUMER?
• WHAT ECONOMIC SECTORS ARE HURTING AND WHY? WHAT
SECTORS HAVE GREAT POTENTIAL FOR GROWTH?
KNOWING ECONOMICS HELPS US
UNDERSTAND WHAT THEY TALK
ABOUT ON THE EVENING NEWS.