When people hear the word “economics,” many instantly think it is difficult, boring, or unimportant. They fail to see its true value in our lives. Economics is not just a subject—it is a path that opens countless opportunities, not only for individuals but also for the growth of an entire nation.

There are common misconceptions: that economics is too difficult, that it has few career prospects, or that choosing it as a major is a waste of time. None of these are true. While economics may not be for everyone, it is far from useless. The problem is that many of us were never taught about the importance of this concept in our daily lives or its significance in national development. We often look at it only as a subject, not as a way of growth.

Now is the time to realize why we need economics—and why it still holds immense value in our modern world.

Let’s learn about economics: a subject that shapes our future

From our college days, we have at least heard the word “economics.” Yet, many of us never truly thought about learning it in depth. Why do people study this subject? What is the real value of studying it? Too often, students treat economics as just another subject, memorising theories to earn a degree without understanding their depth. As a result, they graduate with a degree but lack the ability to apply economics in real life.  

But the truth is, economics is not about memorising theories—it is about understanding how those theories exist in the real world. For instance, consider the concept of demand and supply. We learn that there is a connection between price, demand, and supply: when prices rise, demand falls while supply rises. Doesn’t this actually happen in our daily lives? It’s not just theory; it’s reality. In fact, not a single concept in economics is useless. If you connect these ideas with your daily life and expenses, you will see that every single theory makes sense and is deeply releva

A subject that creates opportunities 

Many students pursue a BBA (Bachelor of Business Administration) in Marketing or Finance, yet they often do not realise that the concepts in these subjects originate from economics. It was first introduced in 1776 with Adam Smith’s influential book “The Wealth of Nations.” Long before marketing and finance were established as fields, economics existed and earned the title of the “Mother Subject.”

Despite this, many students still fail to understand that the theories in business subjects come from economics. No matter which business subject you choose, taking a course in economics is essential, because without it, your concepts will remain unclear.  Economics is a subject that is often undervalued in our country, yet many students—sometimes 25 to 30 or more—still study it. Abroad, however, economics is highly valued. Top universities in the USA, London, and other leading countries prioritize economics programs, often offering great scholarships to students who pursue this field.

When we consider national development, economics has a significant contribution. Have you ever thought about the differences between poor and rich countries? One key reason is that some nations fail to utilise economics effectively. While political and geographical factors also influence a country’s development, economics remains a crucial factor. You can clearly understand this by reading “Why Nations Fail,” a book that emphasizes how proper use of economics can transform a nation.

Economics and Its Career Prospects

Economics holds great value in the research field. Many people pursue a PhD in economics, as it is a subject rich with opportunities for investigation and discovery. A researcher in economics can explore new theories, test existing ones, and even challenge ideas proposed by previous economists. Through research, you can make a global impact by publishing your findings and contributing original knowledge to the field. Economics is also recognized as a discipline in which outstanding contributions can lead to prestigious awards, including the Nobel Prize.

Programmes like “Pioneer Academics” allow students from class 9 to 12 to start their own research projects, with economics being one of the available subjects. Participating in such programs gives students the opportunity to conduct real research and can even lead to fully paid tuition scholarships at top universities abroad. Every year students get the chance to participate in the Economics Olympiad, which adds extra value to their profile.

In addition to research, economics offers diverse career paths. Students can become financial analysts, economic consultants, financial managers, consulting firm, business consultants, market researchers, economists in government, or international organizations. It also opens opportunities in academia, banking, international trade, and even entrepreneurship, etc. This makes economics not only a subject for study but also a pathway to global academic opportunities, professional success, and meaningful contributions to society.

Our country should establish dedicated economics institutions, just like engineering and medical universities, so that students can learn the subject more effectively and develop genuine interest in it. At the same time, it is not only the responsibility of students to learn; teachers must also teach economics in a more practical way, making it easier and more engaging for learners.

Overall, economics is not a subject to neglect. If we truly want to improve our country’s development, we need more economists who can effectively apply economic knowledge for national progress. Economics also opens up many paths for students. They should not treat it as a theoretical subject; instead, they should study it with understanding and relate it to their daily lives. This can completely change our perspective on economics.