WHAT IS ECONOMICS? NATIONAL ECONOMY AND MAJOR DECISION-MAKERS

 

It can be used to explain economic behavior and even predict human behavior! From consumer transactions to large-scale public-sector decisions on national policies, all well-trained economists can solve all problems through analysis and reasoning, thereby generating social influence and leading the country’s future development. Department of Economics at National Taiwan University pointed out that the Department of Economics trains students to correctly identify problems, analyze problems, then solve problems, and even make predictions, so everyone is suitable for studying economics. Those who are interested in economics, come and see!

National Economy and Major Decision-Makers

What is economics? Simply put, economics is the study of all human behaviors. It is a professional tool used for analysis and reasoning logic. Its concept and main axis are very simple; first, economics is a science; second, economics study of social phenomena covered the country

all economic behavior an extension of the home, including currency, interest rates, financial and economic growth, are all included in the category of economics, the economics is, therefore, the social sciences, and social sciences and no difference, the difference is that natural science studies natural phenomena, while economics studies the economic activities of all mankind.

 

For example, because human desires are endless but resources are limited, we must make relatively better decisions under these conditions. How to arrange limited resources becomes key. There are solutions in economics tuition in Singapore. Therefore, we require students to learn and possess three core values after entering the campus. One is the ability to have professional economic knowledge, the other is the ability of independent analysis, and the third is the ability to reason logically.

[Great Economists Are Thinkers]

First of all, it is the foundation of professional economics. In the course of teaching, we will let students deeply understand what is the law of supply and demand, what is the opportunity cost, what is the external cost, etc. In this part, Relevant knowledge can be provided through individual economics, general economics, etc. We also require students to have independent analytical skills. Therefore, combining the connotation of statistics is very important, because economics is rigorous science. If you just make random inferences in the process, you will lose credibility. Therefore, through numerical analysis and calculations, to achieve precision and accuracy. Finally, students must have the correct logical reasoning ability. To put it simply, if the price of a certain raw material is rising, economists must reason about the people's livelihood problems that may arise or the relevant discourses about government failures and franchised industries.

Of course, some students raised questions: "If you want to study economics well, do you have to have a good foundation in mathematics?" I must put forward a direction that is worth thinking about, that is, "great economists are thinkers." This should also prove my above. As mentioned, economics students must have professional knowledge of economics, analytical skills, and reasoning skills. Under this macro structure, economists can correctly identify problems, analyse problems, solve problems, and even make predictions. We expect students to have these three abilities. For example, our central bank president Mr. Peng Huainan, before making any major policies related to currency or interest rates, the premise is that he is supported by precise mathematical calculations and economics expertise, otherwise, he cannot make such difficult decisions and correct judgment.


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