Two traders sold the same product in the same market. One made huge profits while the other struggled. Why? The successful trader understood demand, pricing, competition, and customer behaviour. Economics helps us understand how people, businesses, and governments make decisions when resources are limited.
Economics is the study of how individuals, businesses, and governments allocate scarce resources to satisfy unlimited wants. It helps us understand production, consumption, trade, inflation, employment, and economic growth.
As an SHS student, you may study topics such as:
Economics can lead to careers such as:
Economics is not only about money. It teaches decision-making. The same principles used to understand countries and businesses can also help you make better personal, financial, and career decisions. Many of today's leaders in banking, finance, consulting, government, and business have strong backgrounds in Economics.
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