SlideShare a Scribd company logo
1 of 13
 Societies
 Governments
 Business
 Households &
 Individuals
STUDY OF
Fosters identifying
policy measures
sustainable development
countries economic progress
ECONOMICS IS INTELLECTUALLY FASCINATING &
CHALLENGING
consumer
Producer
Government
Trade
Savings
Investment
Daily life:
Every matter in our daily life like producing, purchasing, selling,
exchange, trading, earnings, savings, investment, allocation of
resources and allotment of funds etc., comes under the subject
matter of economics
Every rational individual think twice while spending a rupee;
which means we make choices out of thousands of products
available based on our needs, wants, tastes and preferences
is the basic source of economics in everyone's life
oDecision making
oUnderstand consumer behavior
oDistribute resources
oEvaluation
oForecasts
oFix market failure
oExtent of government intervention
IMPORTANCE
Source of growth
Capital accumulation
Size & quality of labor
Technology
Natural resources
HELPS….
Answers…
Starting from a small farmer to a big manufacturer before they
start production process many questions arises such as WHAT TO
PRODUCE, HOW TO PRODUCE, HOW MUCH TO PRODUCE
and FOR WHOM TO PRODUCE are all answered by the subject
matter of economics
The complete details of optimum utilization of resources,
production methods, technology, infrastructure, government
assistance and market information are being provided by
economics
o Rational thinking
o Making better choices
o Interpret events
o Innovation
o Economic & financial
stability
o Achieve social efficiency
TEACHES….
a) Develop conceptual models of behavior
b) Perform statistical analysis
c) Development of public policies
d) Efforts to reduce economic drawbacks
In present time economists are everywhere
from performing advisory functions to
policy formulations
WHAT DO ECONOMISTS DO?
This inevitable factor leading to Growing demand for
trained economists with drastic transformation of
economy, from diverse fields such as
 Governments
 Finance & banking sector
 Management business
 Policymaking & teaching
The ultimate goal-to improve living conditions of
people all over the world
ECONOMISTS ASPIRE FOR A BETTER WORLD &
prosperity
Hence studying of economics equips individuals to take
better decisions leading to increase in economic security
and wellbeing of people & society
CONCLUSION
Economics is not confined to those who study economics
We can find the essence of economics in everyone's daily life
through the acts of rational thinking and allocating their
monthly income among their needs, wants and desires

More Related Content

What's hot

Importance of economics and concept of savings & investment
Importance of economics and concept of savings & investment Importance of economics and concept of savings & investment
Importance of economics and concept of savings & investment Vaibhav Vaidya
 
Elasticity of substitution
Elasticity of substitutionElasticity of substitution
Elasticity of substitutionPabitra Mishra
 
Positive and Normative Economics.docx
Positive and Normative Economics.docxPositive and Normative Economics.docx
Positive and Normative Economics.docxRAJKAMAL282
 
The law of equi marginal utility
The law of equi marginal utilityThe law of equi marginal utility
The law of equi marginal utilitysubinjazbaat
 
Types of economic systems
Types of economic systemsTypes of economic systems
Types of economic systemsyacub13
 
Theory of income and employment chap 1
Theory of income and employment chap 1Theory of income and employment chap 1
Theory of income and employment chap 1Nayan Vaghela
 
Public finance nature and Scope
Public finance nature and ScopePublic finance nature and Scope
Public finance nature and ScopeRajbardhanSingh3
 
Production Possibility Curves
Production Possibility CurvesProduction Possibility Curves
Production Possibility CurvesB0ughton
 
Perfect Competitive Market
Perfect Competitive Market Perfect Competitive Market
Perfect Competitive Market SIASDEECONOMICA
 
Ch. 1 micro and macro economics
Ch. 1 micro and macro economicsCh. 1 micro and macro economics
Ch. 1 micro and macro economicsManish Purani
 
Industrial economics (1)
Industrial economics (1)Industrial economics (1)
Industrial economics (1)Sunita Sukhija
 

What's hot (20)

Importance of economics and concept of savings & investment
Importance of economics and concept of savings & investment Importance of economics and concept of savings & investment
Importance of economics and concept of savings & investment
 
Nature and Scope of Economics
Nature and Scope of  EconomicsNature and Scope of  Economics
Nature and Scope of Economics
 
Introduction to Economics
Introduction to EconomicsIntroduction to Economics
Introduction to Economics
 
Elasticity of substitution
Elasticity of substitutionElasticity of substitution
Elasticity of substitution
 
Positive and Normative Economics.docx
Positive and Normative Economics.docxPositive and Normative Economics.docx
Positive and Normative Economics.docx
 
Consumers equilibrium
Consumers equilibriumConsumers equilibrium
Consumers equilibrium
 
Economic development
Economic developmentEconomic development
Economic development
 
The law of equi marginal utility
The law of equi marginal utilityThe law of equi marginal utility
The law of equi marginal utility
 
Types of economic systems
Types of economic systemsTypes of economic systems
Types of economic systems
 
Relative income hypothesis
Relative income hypothesisRelative income hypothesis
Relative income hypothesis
 
Types of economic system
Types of economic systemTypes of economic system
Types of economic system
 
Theory of income and employment chap 1
Theory of income and employment chap 1Theory of income and employment chap 1
Theory of income and employment chap 1
 
Definitions of Economics
Definitions of EconomicsDefinitions of Economics
Definitions of Economics
 
Public finance nature and Scope
Public finance nature and ScopePublic finance nature and Scope
Public finance nature and Scope
 
Production Possibility Curves
Production Possibility CurvesProduction Possibility Curves
Production Possibility Curves
 
Perfect Competitive Market
Perfect Competitive Market Perfect Competitive Market
Perfect Competitive Market
 
Factor pricing Theory.pdf
Factor pricing Theory.pdfFactor pricing Theory.pdf
Factor pricing Theory.pdf
 
Ch. 1 micro and macro economics
Ch. 1 micro and macro economicsCh. 1 micro and macro economics
Ch. 1 micro and macro economics
 
General equilibrium ppt
General equilibrium pptGeneral equilibrium ppt
General equilibrium ppt
 
Industrial economics (1)
Industrial economics (1)Industrial economics (1)
Industrial economics (1)
 

Similar to importance of Economics and economists

Applied economics introduction to economics abm specialized subject
Applied economics introduction to economics   abm specialized subjectApplied economics introduction to economics   abm specialized subject
Applied economics introduction to economics abm specialized subjectGian Paulo Rabanal, LPT
 
appliedeconomicsintroductiontoeconomics-abmspecializedsubject-171203153213.pptx
appliedeconomicsintroductiontoeconomics-abmspecializedsubject-171203153213.pptxappliedeconomicsintroductiontoeconomics-abmspecializedsubject-171203153213.pptx
appliedeconomicsintroductiontoeconomics-abmspecializedsubject-171203153213.pptxCHUBBYTITAMAESTRA
 
Class 8 Economics ( Chapter 1 , Part 2)
Class 8 Economics ( Chapter 1 , Part 2)Class 8 Economics ( Chapter 1 , Part 2)
Class 8 Economics ( Chapter 1 , Part 2)Vista's Learning
 
Intrduction to macroeconomics - Unitedworld School of Business
Intrduction to macroeconomics - Unitedworld School of BusinessIntrduction to macroeconomics - Unitedworld School of Business
Intrduction to macroeconomics - Unitedworld School of BusinessArnab Roy Chowdhury
 
Introduction to Managerial Economics
Introduction to Managerial Economics Introduction to Managerial Economics
Introduction to Managerial Economics NIILM University
 
Economics explained why you should study it and your career prospects.pdf
Economics explained why you should study it and your career prospects.pdfEconomics explained why you should study it and your career prospects.pdf
Economics explained why you should study it and your career prospects.pdfDeepak Jha
 
introduction to economics.ppt
introduction to economics.pptintroduction to economics.ppt
introduction to economics.pptssusere1704e
 
Marketing environment - Unitedworld School of Business
Marketing environment - Unitedworld School of BusinessMarketing environment - Unitedworld School of Business
Marketing environment - Unitedworld School of BusinessArnab Roy Chowdhury
 
Economic analysis for business decisions
Economic analysis for business decisionsEconomic analysis for business decisions
Economic analysis for business decisionsRevaMittal
 
Basics_of_Managerial_Economics.ppt
Basics_of_Managerial_Economics.pptBasics_of_Managerial_Economics.ppt
Basics_of_Managerial_Economics.pptAbhishekModak17
 
60146982 handout-ee-fa-unit-i
60146982 handout-ee-fa-unit-i60146982 handout-ee-fa-unit-i
60146982 handout-ee-fa-unit-ihomeworkping4
 
Basics to economics and finance
Basics to economics and finance Basics to economics and finance
Basics to economics and finance Bhargav
 

Similar to importance of Economics and economists (20)

Applied economics introduction to economics abm specialized subject
Applied economics introduction to economics   abm specialized subjectApplied economics introduction to economics   abm specialized subject
Applied economics introduction to economics abm specialized subject
 
appliedeconomicsintroductiontoeconomics-abmspecializedsubject-171203153213.pptx
appliedeconomicsintroductiontoeconomics-abmspecializedsubject-171203153213.pptxappliedeconomicsintroductiontoeconomics-abmspecializedsubject-171203153213.pptx
appliedeconomicsintroductiontoeconomics-abmspecializedsubject-171203153213.pptx
 
Intrduction to macroeconomics
Intrduction to macroeconomics  Intrduction to macroeconomics
Intrduction to macroeconomics
 
Applied Economics
Applied EconomicsApplied Economics
Applied Economics
 
Class 8 Economics ( Chapter 1 , Part 2)
Class 8 Economics ( Chapter 1 , Part 2)Class 8 Economics ( Chapter 1 , Part 2)
Class 8 Economics ( Chapter 1 , Part 2)
 
Intrduction to macroeconomics - Unitedworld School of Business
Intrduction to macroeconomics - Unitedworld School of BusinessIntrduction to macroeconomics - Unitedworld School of Business
Intrduction to macroeconomics - Unitedworld School of Business
 
Introduction to Managerial Economics
Introduction to Managerial Economics Introduction to Managerial Economics
Introduction to Managerial Economics
 
What is economics
What is economicsWhat is economics
What is economics
 
Economics explained why you should study it and your career prospects.pdf
Economics explained why you should study it and your career prospects.pdfEconomics explained why you should study it and your career prospects.pdf
Economics explained why you should study it and your career prospects.pdf
 
Marketing environment
Marketing environment   Marketing environment
Marketing environment
 
introduction to economics.ppt
introduction to economics.pptintroduction to economics.ppt
introduction to economics.ppt
 
Enterpreneuership
EnterpreneuershipEnterpreneuership
Enterpreneuership
 
Marketing environment - Unitedworld School of Business
Marketing environment - Unitedworld School of BusinessMarketing environment - Unitedworld School of Business
Marketing environment - Unitedworld School of Business
 
Economic analysis for business decisions
Economic analysis for business decisionsEconomic analysis for business decisions
Economic analysis for business decisions
 
EAB UNIT-I.pptx
EAB UNIT-I.pptxEAB UNIT-I.pptx
EAB UNIT-I.pptx
 
Basics_of_Managerial_Economics.ppt
Basics_of_Managerial_Economics.pptBasics_of_Managerial_Economics.ppt
Basics_of_Managerial_Economics.ppt
 
Unit 2
Unit 2Unit 2
Unit 2
 
Ecotar
EcotarEcotar
Ecotar
 
60146982 handout-ee-fa-unit-i
60146982 handout-ee-fa-unit-i60146982 handout-ee-fa-unit-i
60146982 handout-ee-fa-unit-i
 
Basics to economics and finance
Basics to economics and finance Basics to economics and finance
Basics to economics and finance
 

More from Manasa Panuganti

More from Manasa Panuganti (7)

Cashless india
Cashless indiaCashless india
Cashless india
 
Globalization in india
Globalization in indiaGlobalization in india
Globalization in india
 
Consumerism
ConsumerismConsumerism
Consumerism
 
Jyotiba phule
Jyotiba phuleJyotiba phule
Jyotiba phule
 
Presentation of economics on oligopoly
Presentation of economics on oligopolyPresentation of economics on oligopoly
Presentation of economics on oligopoly
 
Ppt on Top Bird sanctuaries in india
Ppt on Top Bird sanctuaries in indiaPpt on Top Bird sanctuaries in india
Ppt on Top Bird sanctuaries in india
 
MOHAMMAD BIN TUGHLUQ
MOHAMMAD BIN TUGHLUQMOHAMMAD BIN TUGHLUQ
MOHAMMAD BIN TUGHLUQ
 

Recently uploaded

CONCEPT OF MUTATION AND ITS CLASSIFICATION .pptx
CONCEPT OF MUTATION AND ITS CLASSIFICATION .pptxCONCEPT OF MUTATION AND ITS CLASSIFICATION .pptx
CONCEPT OF MUTATION AND ITS CLASSIFICATION .pptxAnupkumar Sharma
 
Virtual-Orientation-on-the-Administration-of-NATG12-NATG6-and-ELLNA.pdf
Virtual-Orientation-on-the-Administration-of-NATG12-NATG6-and-ELLNA.pdfVirtual-Orientation-on-the-Administration-of-NATG12-NATG6-and-ELLNA.pdf
Virtual-Orientation-on-the-Administration-of-NATG12-NATG6-and-ELLNA.pdfErwinPantujan2
 
Keynote by Prof. Wurzer at Nordex about IP-design
Keynote by Prof. Wurzer at Nordex about IP-designKeynote by Prof. Wurzer at Nordex about IP-design
Keynote by Prof. Wurzer at Nordex about IP-designMIPLM
 
ICS2208 Lecture6 Notes for SL spaces.pdf
ICS2208 Lecture6 Notes for SL spaces.pdfICS2208 Lecture6 Notes for SL spaces.pdf
ICS2208 Lecture6 Notes for SL spaces.pdfVanessa Camilleri
 
Daily Lesson Plan in Mathematics Quarter 4
Daily Lesson Plan in Mathematics Quarter 4Daily Lesson Plan in Mathematics Quarter 4
Daily Lesson Plan in Mathematics Quarter 4JOYLYNSAMANIEGO
 
AUDIENCE THEORY -CULTIVATION THEORY - GERBNER.pptx
AUDIENCE THEORY -CULTIVATION THEORY -  GERBNER.pptxAUDIENCE THEORY -CULTIVATION THEORY -  GERBNER.pptx
AUDIENCE THEORY -CULTIVATION THEORY - GERBNER.pptxiammrhaywood
 
Production of Monoclonal Antibodies by Hybridoma Technology.pptx
Production of Monoclonal Antibodies by Hybridoma Technology.pptxProduction of Monoclonal Antibodies by Hybridoma Technology.pptx
Production of Monoclonal Antibodies by Hybridoma Technology.pptxAnupkumar Sharma
 
Choosing the Right CBSE School A Comprehensive Guide for Parents
Choosing the Right CBSE School A Comprehensive Guide for ParentsChoosing the Right CBSE School A Comprehensive Guide for Parents
Choosing the Right CBSE School A Comprehensive Guide for Parentsnavabharathschool99
 
Using Grammatical Signals Suitable to Patterns of Idea Development
Using Grammatical Signals Suitable to Patterns of Idea DevelopmentUsing Grammatical Signals Suitable to Patterns of Idea Development
Using Grammatical Signals Suitable to Patterns of Idea Developmentchesterberbo7
 
Active Learning Strategies (in short ALS).pdf
Active Learning Strategies (in short ALS).pdfActive Learning Strategies (in short ALS).pdf
Active Learning Strategies (in short ALS).pdfPatidar M
 
Grade 9 Quarter 4 Dll Grade 9 Quarter 4 DLL.pdf
Grade 9 Quarter 4 Dll Grade 9 Quarter 4 DLL.pdfGrade 9 Quarter 4 Dll Grade 9 Quarter 4 DLL.pdf
Grade 9 Quarter 4 Dll Grade 9 Quarter 4 DLL.pdfJemuel Francisco
 
ROLES IN A STAGE PRODUCTION in arts.pptx
ROLES IN A STAGE PRODUCTION in arts.pptxROLES IN A STAGE PRODUCTION in arts.pptx
ROLES IN A STAGE PRODUCTION in arts.pptxVanesaIglesias10
 
How to Manage Engineering to Order in Odoo 17
How to Manage Engineering to Order in Odoo 17How to Manage Engineering to Order in Odoo 17
How to Manage Engineering to Order in Odoo 17Celine George
 
THEORIES OF ORGANIZATION-PUBLIC ADMINISTRATION
THEORIES OF ORGANIZATION-PUBLIC ADMINISTRATIONTHEORIES OF ORGANIZATION-PUBLIC ADMINISTRATION
THEORIES OF ORGANIZATION-PUBLIC ADMINISTRATIONHumphrey A Beña
 
Transaction Management in Database Management System
Transaction Management in Database Management SystemTransaction Management in Database Management System
Transaction Management in Database Management SystemChristalin Nelson
 
4.16.24 21st Century Movements for Black Lives.pptx
4.16.24 21st Century Movements for Black Lives.pptx4.16.24 21st Century Movements for Black Lives.pptx
4.16.24 21st Century Movements for Black Lives.pptxmary850239
 
PRINCIPLE & APPLICATIONS OF IMMUNO BLOTTING TECHNIQUES.pptx
PRINCIPLE & APPLICATIONS OF IMMUNO BLOTTING TECHNIQUES.pptxPRINCIPLE & APPLICATIONS OF IMMUNO BLOTTING TECHNIQUES.pptx
PRINCIPLE & APPLICATIONS OF IMMUNO BLOTTING TECHNIQUES.pptxAnupkumar Sharma
 
4.16.24 Poverty and Precarity--Desmond.pptx
4.16.24 Poverty and Precarity--Desmond.pptx4.16.24 Poverty and Precarity--Desmond.pptx
4.16.24 Poverty and Precarity--Desmond.pptxmary850239
 

Recently uploaded (20)

CONCEPT OF MUTATION AND ITS CLASSIFICATION .pptx
CONCEPT OF MUTATION AND ITS CLASSIFICATION .pptxCONCEPT OF MUTATION AND ITS CLASSIFICATION .pptx
CONCEPT OF MUTATION AND ITS CLASSIFICATION .pptx
 
Virtual-Orientation-on-the-Administration-of-NATG12-NATG6-and-ELLNA.pdf
Virtual-Orientation-on-the-Administration-of-NATG12-NATG6-and-ELLNA.pdfVirtual-Orientation-on-the-Administration-of-NATG12-NATG6-and-ELLNA.pdf
Virtual-Orientation-on-the-Administration-of-NATG12-NATG6-and-ELLNA.pdf
 
INCLUSIVE EDUCATION PRACTICES FOR TEACHERS AND TRAINERS.pptx
INCLUSIVE EDUCATION PRACTICES FOR TEACHERS AND TRAINERS.pptxINCLUSIVE EDUCATION PRACTICES FOR TEACHERS AND TRAINERS.pptx
INCLUSIVE EDUCATION PRACTICES FOR TEACHERS AND TRAINERS.pptx
 
Keynote by Prof. Wurzer at Nordex about IP-design
Keynote by Prof. Wurzer at Nordex about IP-designKeynote by Prof. Wurzer at Nordex about IP-design
Keynote by Prof. Wurzer at Nordex about IP-design
 
ICS2208 Lecture6 Notes for SL spaces.pdf
ICS2208 Lecture6 Notes for SL spaces.pdfICS2208 Lecture6 Notes for SL spaces.pdf
ICS2208 Lecture6 Notes for SL spaces.pdf
 
Daily Lesson Plan in Mathematics Quarter 4
Daily Lesson Plan in Mathematics Quarter 4Daily Lesson Plan in Mathematics Quarter 4
Daily Lesson Plan in Mathematics Quarter 4
 
AUDIENCE THEORY -CULTIVATION THEORY - GERBNER.pptx
AUDIENCE THEORY -CULTIVATION THEORY -  GERBNER.pptxAUDIENCE THEORY -CULTIVATION THEORY -  GERBNER.pptx
AUDIENCE THEORY -CULTIVATION THEORY - GERBNER.pptx
 
Production of Monoclonal Antibodies by Hybridoma Technology.pptx
Production of Monoclonal Antibodies by Hybridoma Technology.pptxProduction of Monoclonal Antibodies by Hybridoma Technology.pptx
Production of Monoclonal Antibodies by Hybridoma Technology.pptx
 
Paradigm shift in nursing research by RS MEHTA
Paradigm shift in nursing research by RS MEHTAParadigm shift in nursing research by RS MEHTA
Paradigm shift in nursing research by RS MEHTA
 
Choosing the Right CBSE School A Comprehensive Guide for Parents
Choosing the Right CBSE School A Comprehensive Guide for ParentsChoosing the Right CBSE School A Comprehensive Guide for Parents
Choosing the Right CBSE School A Comprehensive Guide for Parents
 
Using Grammatical Signals Suitable to Patterns of Idea Development
Using Grammatical Signals Suitable to Patterns of Idea DevelopmentUsing Grammatical Signals Suitable to Patterns of Idea Development
Using Grammatical Signals Suitable to Patterns of Idea Development
 
Active Learning Strategies (in short ALS).pdf
Active Learning Strategies (in short ALS).pdfActive Learning Strategies (in short ALS).pdf
Active Learning Strategies (in short ALS).pdf
 
Grade 9 Quarter 4 Dll Grade 9 Quarter 4 DLL.pdf
Grade 9 Quarter 4 Dll Grade 9 Quarter 4 DLL.pdfGrade 9 Quarter 4 Dll Grade 9 Quarter 4 DLL.pdf
Grade 9 Quarter 4 Dll Grade 9 Quarter 4 DLL.pdf
 
ROLES IN A STAGE PRODUCTION in arts.pptx
ROLES IN A STAGE PRODUCTION in arts.pptxROLES IN A STAGE PRODUCTION in arts.pptx
ROLES IN A STAGE PRODUCTION in arts.pptx
 
How to Manage Engineering to Order in Odoo 17
How to Manage Engineering to Order in Odoo 17How to Manage Engineering to Order in Odoo 17
How to Manage Engineering to Order in Odoo 17
 
THEORIES OF ORGANIZATION-PUBLIC ADMINISTRATION
THEORIES OF ORGANIZATION-PUBLIC ADMINISTRATIONTHEORIES OF ORGANIZATION-PUBLIC ADMINISTRATION
THEORIES OF ORGANIZATION-PUBLIC ADMINISTRATION
 
Transaction Management in Database Management System
Transaction Management in Database Management SystemTransaction Management in Database Management System
Transaction Management in Database Management System
 
4.16.24 21st Century Movements for Black Lives.pptx
4.16.24 21st Century Movements for Black Lives.pptx4.16.24 21st Century Movements for Black Lives.pptx
4.16.24 21st Century Movements for Black Lives.pptx
 
PRINCIPLE & APPLICATIONS OF IMMUNO BLOTTING TECHNIQUES.pptx
PRINCIPLE & APPLICATIONS OF IMMUNO BLOTTING TECHNIQUES.pptxPRINCIPLE & APPLICATIONS OF IMMUNO BLOTTING TECHNIQUES.pptx
PRINCIPLE & APPLICATIONS OF IMMUNO BLOTTING TECHNIQUES.pptx
 
4.16.24 Poverty and Precarity--Desmond.pptx
4.16.24 Poverty and Precarity--Desmond.pptx4.16.24 Poverty and Precarity--Desmond.pptx
4.16.24 Poverty and Precarity--Desmond.pptx
 

importance of Economics and economists

  • 1.
  • 2.  Societies  Governments  Business  Households &  Individuals STUDY OF
  • 3. Fosters identifying policy measures sustainable development countries economic progress
  • 4. ECONOMICS IS INTELLECTUALLY FASCINATING & CHALLENGING consumer Producer Government Trade Savings Investment
  • 5. Daily life: Every matter in our daily life like producing, purchasing, selling, exchange, trading, earnings, savings, investment, allocation of resources and allotment of funds etc., comes under the subject matter of economics Every rational individual think twice while spending a rupee; which means we make choices out of thousands of products available based on our needs, wants, tastes and preferences is the basic source of economics in everyone's life
  • 6. oDecision making oUnderstand consumer behavior oDistribute resources oEvaluation oForecasts oFix market failure oExtent of government intervention IMPORTANCE
  • 7. Source of growth Capital accumulation Size & quality of labor Technology Natural resources HELPS….
  • 8. Answers… Starting from a small farmer to a big manufacturer before they start production process many questions arises such as WHAT TO PRODUCE, HOW TO PRODUCE, HOW MUCH TO PRODUCE and FOR WHOM TO PRODUCE are all answered by the subject matter of economics The complete details of optimum utilization of resources, production methods, technology, infrastructure, government assistance and market information are being provided by economics
  • 9. o Rational thinking o Making better choices o Interpret events o Innovation o Economic & financial stability o Achieve social efficiency TEACHES….
  • 10. a) Develop conceptual models of behavior b) Perform statistical analysis c) Development of public policies d) Efforts to reduce economic drawbacks In present time economists are everywhere from performing advisory functions to policy formulations WHAT DO ECONOMISTS DO?
  • 11.
  • 12. This inevitable factor leading to Growing demand for trained economists with drastic transformation of economy, from diverse fields such as  Governments  Finance & banking sector  Management business  Policymaking & teaching The ultimate goal-to improve living conditions of people all over the world ECONOMISTS ASPIRE FOR A BETTER WORLD & prosperity
  • 13. Hence studying of economics equips individuals to take better decisions leading to increase in economic security and wellbeing of people & society CONCLUSION Economics is not confined to those who study economics We can find the essence of economics in everyone's daily life through the acts of rational thinking and allocating their monthly income among their needs, wants and desires