474 words essay on the Economics as a Subject of Study

The rupee value indicates the economic strength of a nation. The finance ministry announces various policies to stabilize the economy of the nation and allocates funds for various schemes. A nation’s financial management is the key to the development in other sectors. Agricultural economics is also one of the key branches of economics as it deals with the growth in agricultural production. Our nation’s economy is village- based as India is a land of villages, and so the economy of the villages should receive the utmost consideration of the economists and financial managers.

Economics is a social science. The study of economics and specializing in the various branches of economics will help the students in getting jobs in- the management cadre. The study of economics helps us in the household management, in the management of the complex affairs of an industry and the social and financial affairs of a nation. Wherever money matters economics has a significant place. The knowledge of economics is essential to everyone as economics has wide applications in many fields.

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The Economics course as a major subject at the postgraduate level has changed radically now. Its contents have changed and it has become relevant to the job market. Today economics has become multi-disciplinary. Besides the core economic subjects such as managerial economics, marketing, economic policies, and quantitative economics subjects like computer applications are offered. Further, specialization in the international trade, financial economics, environmental economics, insurance, global economics etc. are taught.

Specialization in the various branches of economics helps the graduates and the postgraduates seek senior level posts in the multinational companies with fat pay. Specialisation in any subject, whether it is medicine, engineering, commerce or economics is quite helpful to seek managerial posts.

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