Economics is a fascinating subject because it is always topical. We use theories to help analyse the causes and consequences of economic events, such as the global financial crisis that affect all our lives in various ways. A good example is pay and living standards, which have declined for most people living in Britain.
Why study Economics?
Economics is a fascinating subject that will enable you to learn more about how the world works. For example, in the past two years Covid has rarely been out of the news. It has affected almost every aspect of the UK and global economy and its effects are likely to be felt for some considerable time. The government has had to spend billions of pounds fighting coronavirus and protecting the economy, but how will this debt be repaid?
The government has cut spending and raised taxes to reduce government borrowing. How have these changes affected the economy and the quality of life in Britain? Is our current economic recovery, based on ever higher levels of private and public debt, sustainable?
If you opt to study Economics you’ll find out the answer to these questions and many more, such as: Why are some countries richer than others? The wealth gap between rich and poor in Britain has grown over the last decade. Why has this happened? And does the issue of inequality matter anyway?