vitiu Posted June 18, 2015 Report Share Posted June 18, 2015 <that topic is going to draw some attention > Are topics covered at Economics useful? I mean in real life. I can choose between Geography (initially taken), History (nope) or Econ SL as my Group 3 and I am wondering whether things that they teach at Econ would ever be helpful for my if I wish to start my own business in the future (I know that Business Management is exactly that, but they do not offer it at my school). I find Geo and Econ equally easy (correct if not) so I started to think about usefulness rather than points on diploma. Reply Link to post Share on other sites More sharing options...
vitiu Posted June 20, 2015 Author Report Share Posted June 20, 2015 Is it that useless? Reply Link to post Share on other sites More sharing options...
Cat_Person Posted June 20, 2015 Report Share Posted June 20, 2015 This is purely my opinion. Currently I'm taking a Economics HL but doing a Business EE. In terms of running businesses, you're vaguely right that economics doesn't quite teach you that. Economics helps me understand why and how businesses interact with each other the way that they do in the realistic world. I also find that, although the concepts aren't the same, business and economics overlap in certain areas that have real-world applications. You'll probably be interested in microeconomics that most. My teacher, who teaches both Business and Economics, say he values economics more as he claims that IB business tends to be less valued than IB economics to US universities. Reply Link to post Share on other sites More sharing options...
vitiu Posted June 21, 2015 Author Report Share Posted June 21, 2015 This is purely my opinion. Currently I'm taking a Economics HL but doing a Business EE. In terms of running businesses, you're vaguely right that economics doesn't quite teach you that. Economics helps me understand why and how businesses interact with each other the way that they do in the realistic world. I also find that, although the concepts aren't the same, business and economics overlap in certain areas that have real-world applications. You'll probably be interested in microeconomics that most. My teacher, who teaches both Business and Economics, say he values economics more as he claims that IB business tends to be less valued than IB economics to US universities. I don't need Economics for university, I am just wondering if knowledge from the course will be useful in the future Any more opinions? Reply Link to post Share on other sites More sharing options...
ebu Posted June 21, 2015 Report Share Posted June 21, 2015 I personally think knowledge of economics is useful in numerous real life situations. Economics is closely linked to politics, for example it may help you to vote for a candidate after assessing the economic policies the candidate promises to use. It is also to some extent related to business, for example in certain macroeconomic situations a type of business may flourish, or a business may utilize YED (income elasticity of demand) or XED(cross elasticity of demand) to predict future demand of the product it is producing etc. But at the end of the day, economics does not teach things like management skills etc that business studies would teach. Hope this helped (: Reply Link to post Share on other sites More sharing options...
vitiu Posted June 22, 2015 Author Report Share Posted June 22, 2015 Any more opinions? Reply Link to post Share on other sites More sharing options...
King112 Posted June 24, 2015 Report Share Posted June 24, 2015 It is useful. Practically, if you go into the banking or certain parts of the tertiary industry, it will be helpful. Also, investing and stuff, it will help. Reply Link to post Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.