A Comprehensive Guide To Ace STPM Economics Here's a trivia for you. Do you know which country has the third largest economy in South East Asia? It's none other than our nation, Malaysia. Whether it's tabling local economic policies, establishing trade relationships with various countries or managing the role of banks in the country, every[…]
28 February 2023∙8 minutes to read
What You Should Know About The SPM Economics Paper 2023 What comes to your mind first when you hear the word "ECONOMY'? Money? Graphs? Businesses? Banks? Yes, they are somehow related to the world of economy, but we are just barely scratching the surface. You don't have to worry if you are a total rookie[…]
31 January 2023∙7 minutes to read
How Money Flows Into Social Media Platforms How long ago was it that Facebook debuted? I remember my eagerness to create my account in those early days, so I could track and stay in touch with my scattered family and long-ago school friends. At the time, I thought it was wonderful that this new service[…]
29 April 2022∙7 minutes to read
Want to Learn Economics?
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The Economic Impacts of War in Ukraine People start wars for all sorts of reasons. Sometimes they are provoked into war; other times religion or the belief that their nation is superior and they have to prove their belief by force prevails. All animals, especially the more evolved species, fight each other for resources, mates[…]
22 March 2022∙7 minutes to read
A Comprehensive Guide On Finding Economics Courses In Malaysia Many Malaysians have a few common goals in mind. Ask anyone what their biggest dreams are, and most of the time, “I want to be rich, have a nice car, nice house, etc” comes up. This dream is the driving force behind the hard-working mentality of[…]
2 March 2022∙7 minutes to read
A Comprehensive Way to Find Economics Courses In Malaysia Decades ago, during the time where Science and Technology started booming in Malaysia, everybody preferred to choose the Science and IT courses. At school, those who take economics, business and finance are labeled the ‘not so brilliant’ or leftover students who aren’t eligible to take science[…]
26 June 2021∙7 minutes to read
Grasp The Basics of Econometrics The topic of econometrics came up while chatting with a friend the other day - yes, we talk like that a lot. She holds a degree in accounting and works in a government tax office; it would seem that she might know at least something about it, right? Colour me[…]
5 May 2021∙7 minutes to read
Learn More About The History of Economics Economics is not a static field. While the laws of physics, chemistry or biology may be concrete, economic models and accompanying theories continue to evolve. This is because economics is a social science, and so there can never be any concrete answer as to which economic model or[…]
17 July 2018∙6 minutes to read
Is It Worthwhile Taking A Degree In Economics? Applying to university can be a very stressful time in life – there are so many choices to make when it comes to deciding which university, and which degree course, is right for you. Thankfully, for A-Level students looking to launch their career as an economist and[…]
11 July 2018∙7 minutes to read
What Is Economics? Economics is a broad area, with a lot of concepts and ideas that can be difficult at first to come to terms with. Below we introduce common theoretical concepts and areas in economics that you may see during your economics studies. To fully grasp them, though, we have to understand how and[…]
10 July 2018∙12 minutes to read
Getting Back to Economics Basics Economics can be a difficult subject to define and understand. Below, we take you through the key things you should know about economics. What Is Economics? Economics can be notoriously difficult to define as a subject, which is not particularly helpful if you’re currently studying economics at school or university.[…]
5 June 2018∙6 minutes to read
Learn More About The Most Famous Economists and Their Theories If you’re studying economics at GCSE, A-level, or if you’re an economics undergraduate at university, there are lists upon lists of famous economists, economic works, as well as economic theories that you’re expected to understand. In fact, some would say it's a common assumption that[…]
29 May 2018∙6 minutes to read
Create Your Own Online Economics Course Thankfully for economics students and undergraduates, there are so many online tools available to help improve your economics knowledge and grades. Often, the key to improving your academic performance and bringing out your inner economist is to deepen your overall understanding of the subject matter. So when it comes to[…]
25 May 2018∙7 minutes to read
Improve Your Performance with Economics Tutors If you need help in your economics course, or just want to move up a grade in your exams, then getting an A-level economics tutor may be the easiest way to improve your academic performance. We’ve outlined below all the things you may need to think about before you[…]
14 May 2018∙7 minutes to read
Economics is a social science that examines how individuals, businesses, governments, and societies allocate their limited resources to satisfy their needs and wants. It focuses on understanding the production, distribution, and consumption of goods and services and the factors that influence these economic decisions.
👩🎓 What Are the Fields in Economics?
Economists study various aspects of the economy, including:
- Microeconomics: This branch looks at individual economic agents such as consumers, firms, and markets. It explores topics like supply and demand, pricing, consumer behaviour, and market competition.
- Macroeconomics: Macroeconomists study the economy as a whole, focusing on issues like inflation, unemployment, economic growth, and fiscal and monetary policies.
- International Economics: This area examines global economic interactions, including trade, exchange rates, and international finance.
- Development Economics: Development economists study the economic growth and development of countries, with a focus on poverty reduction, inequality, and sustainable development.
- Labour Economics: Labour economists analyse the labour market, including employment trends, wages, and labour policies.
- Environmental Economics: Environmental economists study the impact of economic activities on the environment and develop strategies for sustainable resource use.
- Health Economics: Health economists assess the allocation of resources in healthcare, healthcare policies, and the economic factors affecting public health.
- Financial Economics: Financial economists study financial markets, investment, risk management, and financial institutions.
- Behavioural Economics: This interdisciplinary field combines psychology and economics to understand how cognitive biases and human behaviour influence economic decisions.
💼 What Are the Careers in Economics?
Careers in economics are diverse and can be found in various sectors, including:
- Government: Economists work in government agencies to analyse economic data, formulate policies, and provide economic advice to policymakers.
- Business: Many corporations hire economists to analyse market trends, forecast demand, and optimise business strategies.
- Finance: In the financial sector, economists may work in investment banks, hedge funds, or financial consulting firms, analysing financial markets and risk.
- Academia: Some economists pursue careers in academia, conducting research and teaching at universities and colleges.
- Nonprofit Organisations: Economists can work for NGOs and nonprofit organisations, addressing issues such as poverty, development, and social welfare.
- International Organisations: Organisations like the United Nations, World Bank, and International Monetary Fund employ economists to address global economic challenges.
- Research and Think Tanks: Economists in research institutions and think tanks conduct studies on various economic issues and provide recommendations.
- Consulting: Economic consulting firms offer services related to economic analysis, policy evaluation, and litigation support.
- Data Analysis and Research: With strong quantitative skills, economists are often sought after for data analysis roles in various industries.
- Entrepreneurship: Some economists become entrepreneurs, using their analytical skills to start and run their businesses.
Economics is a versatile field that provides valuable insights into decision-making, making it relevant to a wide range of career paths and industries.
💡 Tips for Studying Economics
Whether you’ve decided to learn economics with a private tutor as an adult learner or you are currently in the middle of your economics BSc degree program at a local university, suggestions on how to study are a great help. But what are the best tips to consider and apply when studying economics? While there are many, let’s consider three.
Firstly, to succeed in future exams, you’ll need to consistently review your class notes and textbooks. We greatly suggest doing some quick review sessions after study periods to ensure that your mind has assimilated the information. Secondly, when studying economics, it’s a good idea to join or create a study group with other like-minded students. The give and take between you and your classmates will help balance your learning experience and fill any gaps that you have in your knowledge. Also, it’s really fun!
Thirdly, take baby steps and master the material as you go. The field of economics is quite varied, and there are many topics to consider. Therefore, to prevent yourself from getting overwhelmed, focus on one or two topics at a time. We’re positive that all three of these learning tips will enhance your moments studying economics.
Studying economics is a worthy endeavour that will grant you knowledge of the transfer of wealth in the modern world. And if you’re ready to take the next step, connect with any of our amazing economics tutors who are here to help you on your learning journey.