About

Economics

OVERVIEW OF WHAT THEY DO  

An Economics major teaches you how societies use resources like money, labor, and land. You'll learn about production, distribution, and consumption of goods and services. With this knowledge, you can understand how economies function, analyze factors affecting economic growth, and make informed decisions about resource allocation, policy-making, and business strategies.

Difficulties and concerns in studying Economics:

Complexity of Economic Systems: Economics deals with the complexities of human behavior, markets, and policies. Understanding and predicting economic phenomena accurately can be challenging due to the dynamic and interconnected nature of economic systems.

Quantitative Skills: Proficiency in quantitative methods such as statistics, calculus, and econometrics is essential for conducting empirical research, analyzing economic data, and testing economic hypotheses.

Research Skills: Economics involves conducting research, analyzing data, and interpreting economic trends. If you struggle with research methods or data analysis, it might be difficult to conduct economic research effectively.

Globalization and Interconnectedness: In an increasingly globalized world, economic events and trends in one part of the world can have far-reaching implications globally. Understanding and analyzing the interconnectedness of economies and global markets can be complex and challenging.

Policy Challenges: Malaysia's economic policy landscape may be influenced by political factors, vested interests, and ideological differences, making it challenging for economists to advocate evidence-based policy solutions and reforms.

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Main RIASEC codes: Investigative (I), Social (S)
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Investigative (I): Economics involves analytical thinking, data analysis, and problem-solving. Economists analyze economic data, conduct research, and develop theories to understand how economies function and make predictions about economic outcomes. These activities require intellectual curiosity, critical thinking, and attention to detail, traits associated with the Investigative category.

Social (S): Economics also involves understanding how individuals, groups, and societies make decisions about allocating resources and addressing economic issues. Economists study human behavior, social structures, and cultural influences on economic outcomes, requiring interpersonal skills, empathy, and an understanding of social dynamics, traits associated with the Social category.

- Economist
- Statistician
- Investment Analyst

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