Introduction: Economics is a social science. Different economists have defined economics in different ways. But they could not reach any consensus on this. However, it can be said that the theme of economics is the discussion about the balance between the infinite scarcity of people and limited resources.
Need to study Economics: As the scope of economics has expanded in the present era, it has become the most important social science. The main task of economics as a social science is to achieve human welfare. Today economics is not just the 'science of wealth'. Hence the importance and necessity of studying economics have increased greatly.
The requirements of Economics are discussed below:
1. In the daily life of people: All the people of the society are somehow involved in economic activities. People are woven into a thread of economic activities in their daily life. Economic problems constantly affect people's daily lives. People are active in solving economic problems. Basically, people are able to solve their daily problems with economic knowledge.
2. In terms of fair use of resources: Resources are limited but scarcity is infinite. Economics teaches how to maximize satisfaction or welfare by meeting multiple needs with limited resources. And achieving economic welfare is the main purpose of economic activities of human life.
3. In the field of production: The multifaceted complex problems that arise in the field of production are solved on the basis of various theories of economics. Which type of production system will be profitable, how much to increase or decrease which component is known through the study of economics.
1. In the daily life of people: All the people of the society are somehow involved in economic activities. People are woven into a thread of economic activities in their daily life. Economic problems constantly affect people's daily lives. People are active in solving economic problems. Basically, people are able to solve their daily problems with economic knowledge.
2. In terms of fair use of resources: Resources are limited but scarcity is infinite. Economics teaches how to maximize satisfaction or welfare by meeting multiple needs with limited resources. And achieving economic welfare is the main purpose of economic activities of human life.
3. In the field of production: The multifaceted complex problems that arise in the field of production are solved on the basis of various theories of economics. Which type of production system will be profitable, how much to increase or decrease which component is known through the study of economics.
4. In Business: Nowadays there is a lot of competition in business. The businessman has to manage his business through this competition. Knowledge of economics is essential to deal with the competition that arises in this case. Because different types of competition are discussed in economics.
5. Government Administration: In the present welfare society, the government has to perform multiple functions. It is not possible to properly solve the economic problems of the state without proper economic knowledge. It is essential for people employed in government administration to study economics in order to properly solve complex problems arising in various fields such as borrowing, lending, budgeting, revenue collection, production, distribution, consumption, purchase, and sale.
6. Work of social workers: Among the social problems, the main problem is the economic problem. Since social workers work in an effort to achieve the overall welfare of society, their study of economics is indispensable. Because unemployment, poverty, begging, malnutrition, prostitution, etc. are complex socio-economic problems. The correct solution to these problems can be found through the study of economics.
7. Formulation and implementation of plans: In order to formulate and implement plans for a country, it is essential to have complete knowledge about the natural resources, material and immaterial resources, population, and overall economic condition and economic problems of that country. A clear understanding of these issues can be gained only by studying economics. Therefore, the study of economics is essential in planning and implementation.
8. Regarding labor leaders: The importance of labor in production is undeniable. Knowledge of economics is essential for labor leaders to negotiate or engage in a struggle with producers for the fair rights of labor unions.
5. Government Administration: In the present welfare society, the government has to perform multiple functions. It is not possible to properly solve the economic problems of the state without proper economic knowledge. It is essential for people employed in government administration to study economics in order to properly solve complex problems arising in various fields such as borrowing, lending, budgeting, revenue collection, production, distribution, consumption, purchase, and sale.
6. Work of social workers: Among the social problems, the main problem is the economic problem. Since social workers work in an effort to achieve the overall welfare of society, their study of economics is indispensable. Because unemployment, poverty, begging, malnutrition, prostitution, etc. are complex socio-economic problems. The correct solution to these problems can be found through the study of economics.
7. Formulation and implementation of plans: In order to formulate and implement plans for a country, it is essential to have complete knowledge about the natural resources, material and immaterial resources, population, and overall economic condition and economic problems of that country. A clear understanding of these issues can be gained only by studying economics. Therefore, the study of economics is essential in planning and implementation.
8. Regarding labor leaders: The importance of labor in production is undeniable. Knowledge of economics is essential for labor leaders to negotiate or engage in a struggle with producers for the fair rights of labor unions.
9. To Politicians: Politicians are the economic policymakers of the country. As policymakers, they need to have an understanding of the overall economic situation of the country. Economics lessons are essential to acquire this concept.
9. To Politicians: Politicians are the economic policymakers of the country. As policymakers of their country, It is necessary to have an understanding of the overall economic situation. Economics lessons are essential to acquire this concept.
10. Scope of knowledge as a field of development: Economic problems are as entwined as octopuses in human life. The correct solution to these problems can be found through the study of economics. Arthasastra's studies improve knowledge by solving economic problems. As a result, the person becomes more realistic and efficient.
11. Coordination between past, present, and future: By studying economics, one can take economic measures according to the needs of the present society by getting an understanding of past economic conditions. In this way, by reviewing the past and present conditions, to build a fair and beautiful society in the future It is possible to adopt an economic action plan toward the goal.
12. In Underdeveloped Countries Economies: In underdeveloped countries, A number of economic problems can be observed. these Poverty, unemployment, malnutrition, inflation, low in the country Thousands of problems including productivity and rapid population growth exist Economics to analyze and solve these problems
Knowledge of various disciplines is essential.
Conclusion: In light of the above discussion, it can be said that with the development of civilization, the importance of economics as a social science is gradually increasing. In the era of globalization, studying economics is essential to deal with many complex economic as well as practical problems. current
9. To Politicians: Politicians are the economic policymakers of the country. As policymakers of their country, It is necessary to have an understanding of the overall economic situation. Economics lessons are essential to acquire this concept.
10. Scope of knowledge as a field of development: Economic problems are as entwined as octopuses in human life. The correct solution to these problems can be found through the study of economics. Arthasastra's studies improve knowledge by solving economic problems. As a result, the person becomes more realistic and efficient.
11. Coordination between past, present, and future: By studying economics, one can take economic measures according to the needs of the present society by getting an understanding of past economic conditions. In this way, by reviewing the past and present conditions, to build a fair and beautiful society in the future It is possible to adopt an economic action plan toward the goal.
12. In Underdeveloped Countries Economies: In underdeveloped countries, A number of economic problems can be observed. these Poverty, unemployment, malnutrition, inflation, low in the country Thousands of problems including productivity and rapid population growth exist Economics to analyze and solve these problems
Knowledge of various disciplines is essential.
Conclusion: In light of the above discussion, it can be said that with the development of civilization, the importance of economics as a social science is gradually increasing. In the era of globalization, studying economics is essential to deal with many complex economic as well as practical problems. current