Many benefits can be gained from studying economics. First, economics deals with vital current problems such as inflation, unemployment, monopoly, economic growth, pollution, and poverty. Economics is a problem-oriented social science, and the problems with which it is especially concerned are among the most disturbing of our age. They fill our newspapers and pervade our politics. We like to be knowledgeable about a part of society that so many feel is important. Not only is economics relevant to the big problems of society, but it also relates to personal problems-wages, unemployment, the cost of living, taxes, and so on.
Second, the accomplishments of economics have established it as the most successful social science. For example, yours is the first generation never to have experienced a major depression. No other social science has had an equivalent success in applying reason the shaping of humanity’s destiny. Our nation has a Council of Economic Advisers; no such permanent agency exists for any other social science. In addition, in January of every year The Economic Report of the President is presented to Congress.
Third, economics is attractive because of its use of the scientific method for the study of people. Sometimes, students view mathematics as a fascinating game or language but are frustrated by their inability to use it for really important human problems. Whereas mathematics is increasingly used by all social sciences, economics has long been in the forefront in its usage. Economists depend heavily on models (i.e., simplifying constructs) for organizing facts and for thinking about economic behavior and policy alternatives.
Forth, a knowledge of economics and an understanding of current economic institutions and problems are essential in certain occupations. For example, business leaders are usually expected by the general public, and often by colleagues, to be knowledgeable of economic phenomena. The same is true for journalists, television commentators, editors, social studies teachers, politicians, labor leaders, bankers, lawyers, and others. Some disciplines are more easily learned on-the-job or in one’s spare time than others. If you are ever to develop a basic background in economics, it will probably be in college and not later.
Finally, economics and economic issues may be your avocation. As a person knowledgeable of the subject, you may well play a leading role in the League of Women Voters, in a local or national political party, in a civic club committee on the local economy, as a bargaining agent for a union or teachers’ association, or as an informed commentator on current issues at your club or at home. With the media so full of economic matters, few disciplines are as useful in preparing one to be an interested, interesting, and knowledgeable observer and interpreter of passing events
The autumn term of my first year have gone. I am used to everything in new studying environment. After five studying months, I feel that my decision of entering Foreign Trade University is the right one. I love this university which now is mine. I have attended with many friendly and intelligent people in High Quality Class A2 of the Faculty of Economics and International Business. I feel I am a happy person when I can make friends with them. When attending this class, all of us have studied very hard. First, we felt not comfortable and ever wanted to give up. Gradually, when being acquainted to everything, all of us feel that we are lucky people. Studying hard makes us better and better. We have obtained a lot of knowledge, experience, even skills from our teachers, especially from our writing teacher, Mrs. Huong. Worst still, all of us can easily see that she has tried as much as possible to help us in improving our writing skills. She always makes us feel comfortable and funny when learning with her. It is easy to understand, because she is the person that I have never seen any signal of tiresomeness on her face. She always smiles. She smiles when teaching us, talking with us, etc. From the beginning to the end of our lessons, she always keeps her smile. It is very great! I have learned from her that I should keep my smile under any circumstances, because although smile cannot help me to solve any difficulties, it can make difficulties become easier to solve. With all Mrs. Huong have done for us, especially for me, I want to say that “Thank you for all you have done for us. We love you, Mrs. Huong.”