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Is the study of economics still relevant today?
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[QUOTE="Kingsley, post: 207384, member: 30278"] I strongly agree that economics is still very relevant in today's world, infact the definition of the subject itself sells out it relevance for all times as long as humans will still remain on earth. Economics is a social sciences subject not purely a science subject hence it deals more with humans and human interactions, it uses scientific approach in studying human behaviours in relationship between ends and scares means which have alternative uses, when we look at that definition we will realise a whole lot. Economics looks at the needs of humans, how humans would make provision to satisfy those needs and how humans can make decisions that will benefit them and aviod wastages. With a proper understanding of the principles of economics one will be able to manage resources at the micro level and macro level. At the micro level we are looking at the needs of the households and how they can make provisions to satisfy one's need at that level. While the macro level we will comsider every single item in the economic system like government, import and export and the likes. Economics provides us with the basic knowledge we need to manage our scares resources effectively and efficiently. [/QUOTE]
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