5 indicators studying economics is for you | studying economics at university, yay or nay?

Summary

In this video, the speaker, Melena, explores key indicators to help high school students determine if studying economics is right for them. She emphasizes the importance of liking math, being curious, and having problem-solving skills, as well as an interest in social sciences. Melena discusses how economics blends analytical thinking with real-world applications, especially in understanding human behavior and societal issues. She also highlights the significance of reading, writing, and speaking skills in academic economics, offering a personal perspective on what makes economics both challenging and rewarding.

Takeaways

• 😀 Economics is a broad subject that helps understand the world, people, and institutions through efficient production and social well-being.
• 😀 It's difficult to predict whether you'll enjoy or be good at economics, as it depends on personal interests and skills.
• 😀 A strong interest in math, especially in using math to solve real-life problems, is a good indicator that economics might be for you.
• 😀 Economics combines mathematical applications with social sciences, like sociology and psychology, to analyze human behavior.
• 😀 Economics is about more than just numbers; it's about solving problems creatively and analyzing complex situations with original ideas.
• 😀 Problem-solving and analytical skills are crucial in economics, as students are expected to approach issues from various perspectives.
• 😀 Curiosity is important in economics; students who ask questions and seek deeper understanding tend to excel in the field.
• 😀 Economics requires a willingness to ask questions, especially when concepts, theories, and research are difficult to grasp.
• 😀 Good reading, writing, and speaking skills are essential for studying economics, as you'll need to analyze and present complex ideas clearly.
• 😀 Public speaking and the ability to explain your ideas effectively are important for giving presentations and writing research papers in economics.
• 😀 Studying economics is about engaging with theory, research, and applying knowledge to real-world issues, making it a dynamic and practical field.

Q & A

What is the purpose of the video?

The purpose of the video is to help viewers decide whether studying economics at university is the right choice for them. The speaker outlines five key indicators that could suggest someone would enjoy and succeed in economics.

Why does the speaker say economics is a broad subject?

Economics is considered broad because it can be applied to nearly any area of study or real-world situation, and it encompasses various subfields that may appeal to different interests, from mathematical modeling to understanding human behavior.

Is it necessary to be excellent at math to study economics?

No, it's not necessary to be excellent at math, but you should enjoy working with numbers and be comfortable applying math in practical situations. Math is used as a tool in economics to help explain real-life phenomena, but it doesn’t require advanced math skills.

How does the speaker describe the relationship between economics and social sciences?

The speaker explains that economics often overlaps with social sciences like sociology and psychology because it explores human behavior, institutions, and decision-making processes. Understanding how people behave is key to understanding economic systems.

What role does problem-solving play in economics?

Problem-solving is crucial in economics because the subject involves finding creative solutions to complex, real-world issues. Economists analyze data, apply theories, and come up with innovative ways to address challenges like inequality and efficiency.

What are the key skills that make someone a good economist?

The key skills are strong analytical abilities, critical thinking, creativity in problem-solving, and a curiosity-driven mindset that asks insightful questions. Good economists are also comfortable with math, social theories, and are excellent at reading, writing, and speaking.

Why is curiosity an important trait for an economics student?

Curiosity is essential because economics requires asking the right questions and exploring theories in depth. Students must be willing to seek clarification and dig deeper into subjects to push beyond existing knowledge and make new contributions.

How does asking questions contribute to success in studying economics?

Asking questions helps students better understand complex concepts and theories. It ensures they grasp foundational ideas and can connect them to more advanced material. Without asking questions, students risk falling behind in their studies.

How important are reading, writing, and speaking skills in economics?

Reading, writing, and speaking are very important in economics. Economics students read academic papers, write research reports, and give presentations. These skills help them synthesize information, communicate ideas clearly, and engage with the academic community.

What advice does the speaker offer to students who struggle with reading, writing, or public speaking?

The speaker acknowledges that while these skills can provide an advantage, struggling with them doesn't mean you can’t succeed in economics. With practice and focus, students can still thrive in the field, even if these skills aren't their strengths.