Economics can be used in almost every job and is becoming more and more important within the modern world. Due to this and a general interest in the subject and the few career paths that excite me it was an obvious choice as one of my subjects at A-Level. Even though I was ready for the work I had no idea what to expect as from different people I had heard different opinions on the subject. A few friends said that it was by far their hardest subject but others told me it was applied maths with some writing. My first blog will be discussing this and how both of these opinions are in fact correct and how I have found this out in my first couple of months of Economics.
Fundamentally Simple: Surely the Economics at school would just be applied Maths. Creating graphs and developing equations are fundamentally the ideas that the subject is based on with in the first few lessons having presentations on the supply graphs and learning and developing the equation Y = C + I + G + (X-M).
These were simple factors to understand as I enjoy the Mathematics side of the course and it works with my was of working. Others found other aspects of the course simple within the first couple of months but this is what I understood the best. It is also simple due to how much of the course involves common sense such as the idea that is the price of a good of service decreases people will want that good more.
A Difficult A-Level:
This article in the telegraph shows that Universities are more willing to accept the 'harder' subjects which are offered in Sixth Forms throughout the country. After a small amount of time studying this subject I completely understand why Economics has been put in the highest bracket of intellect and recognition for universities. The main problems for me occurred when learning the foreign language that Economists are able to use to each other when describing what I see as a simple graph.
If my teacher had said to me at the start of this year 'A decrease in Consumption Expenditure causes a shift in aggregate demand to the left therefore lowering the general price level and then the real national output due to the decrease in the general price of goods and services' I wouldn't have understood the meanings of the words let along understand how the graph works because of this and how it works.
This adaptation of language from words that are already familiar to us all to is difficult to get your head round as suddenly words have multiple meanings. If I had been told fish could be described as land I would've thought they were mad but this change in language is what has to be learnt.
Overall, this new subject that I have taken up I am thoroughly enjoying even though its is difficult and always keeps your brain working. Taking Economics does need an ability to learn through many different way like graphs and maths but also English skills. Plenty of common sense to realise how almost everything is connected whether it is price, aggregate demand or government spending.
