“In our world, most of the problems that we have – environmental problems, wars, our ageing population, inequality in health outcomes, global poverty, the rise of populism – are rooted in economics. If you understand economics, you can be not just an observer, but a participant in dealing with those challenges” (WEN Careers in Economics Video)

Studying economics equips you with a toolkit to understand the world around you.

Economics centres on human behaviour. Economists are interested in figuring out what motivates or incentivises people to act the way they do. This leads us to explore all sorts of questions about everyday life: How do people make choices? What factors guide business decisions? What government policy should be implemented? How will the community be affected social and economic change? How can we make the best use of our resources? How can we make society more fair and equitable?

As you can tell by the flavour of these questions, economics is more than just understanding the world – it gives you tools to help improve the world. To make the world a better place.

By analysing information and testing the impact of policies, the job of economists is to come up with solutions to tackle real world problems and improve people’s quality of life.

Even if you don’t pursue a career in economics, studying economics will provide you with valuable knowledge to better understand the complexities of human behaviour, to understand the impacts of government policy, and to be more aware about the strategies that businesses use to influence consumers.

This equips you with the capacity to make smarter decisions in your life – as a consumer, as an investor, even as a student deciding on your career pathways. Knowledge of economics will help you to make more informed decisions as a voter and to participate in wider debates within the community about politics, government and business.

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