How Economics can be a financially stronger profession? - PowerPoint PPT Presentation

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How Economics can be a financially stronger profession?

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Description: Since economics teaches you the value of money and how it can be multiplied, it itself proves out to be a financially stronger profession. This presentation presents economics as a wide range of controversial public policy questions, including environmental regulation, government restrictions on domestic and international markets, and the structure of the legal system. – PowerPoint PPT presentation

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Title: How Economics can be a financially stronger profession?


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Introduction
It is often said that, Economists know how to
manage the surplus needs with scare materials.
The fact that economists are considered as
seers, who are highly predictive about the future
spending by merely learning about the present
availability, makes us curious about the
predictability of economics.
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In todays highly competent markets, there is a
need for steadfast economists, who can improve
the figure of declining economy. To learn more
about economics lets thoroughly learn about it
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What is Economics?
Economics is a subject of social- science that
studies the production, distribution, and
consumption of goods and services.
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What are the various branches of Economics?
Economics is broadly divided into micro and macro
economics respectively
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MICRO ECONOMICS
  • Micro economics analyzes the basic elements in
    the economy such as markets and individual agents
    such as households, buyers, and sellers.

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  • It deals with an individual product, firm,
    household, industry, wages, prices, etc.
  • It determines the price of a particular commodity
    along with the prices of complementary and
    substitute goods.

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MACRO ECONOMICS
  • Macro economics analyzes the entire economy such
    as consumption, saving and the issues affiliated
    to it like labor, capital, land, and the public
    policies like monetary and fiscal
  • It deals with aggregates like national income,
    national output, price level, etc.
  • It is helpful in maintaining the general price
    level.

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Why study economics?
  • Microeconomics provides the tools to analyze
    individuals, firms, and governments.
  • It finds the social context and the implications
    for human welfare.

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  • It presents a wide range of controversial public
    policy questions, including environmental
    regulation, government restrictions on domestic
    and international markets, and the structure of
    the legal system.

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  • Macro economics helps to explore the sources of
    economic growth and the causes of its recession
    and inflation.

What are the career options in this field ?
Economics is a vast field with a plethora of
career options available. To mention a few,
Economic consulting, corporate world, masters of
business administration, government and non-
profits and legal profession are the fields one
can approach for the establishment of a settled
career.
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What is the salary offered in the field of
economics?
According to the Bureau of Labor Statistics, the
employment of economists is projected to grow 6
percent from 2016 to 2026, about as fast as the
average for all occupations.
As per the statistics, the median annual wage for
economists was 104,340 in May 2018 and is likely
to rise more.
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