Economics has a reputation, one of complex graphs, endless theories and being “too dry” for many students. But look closer, and you’ll see it’s anything but that. It’s a subject that teaches us how people behave, how societies manage their resources, and how governments respond to crises. Economics is often misunderstood as a number salad, when really it’s a study of real people, real problems, and real decisions.
Have a look at your surroundings. The desk you’re sitting at, the bed you’re lying on, even the snacks you’re eating, all of it traces back to Economics. Someone extracted the raw materials, someone else manufactured the product, and somewhere down the line, prices were set, wages were paid and later on those wages were used to allow someone to satisfy their needs and wants. What may seem like a simple object had a string of decisions, trade-offs, and values behind it. This is where Economics steps in, it helps a person understand how societies both struggle and thrive in the face of scarcity, and how from a macro perspective simple decisions have ripple effects that can be felt hundreds of miles away.
Microeconomics zooms in on the decisions of individuals and firms, whereas Macroeconomics takes into account national economies and the global economy as well as familiar economic indicators such as inflation, unemployment and economic growth.
A subject as vast and diverse as this does not exist in a vacuum. It overlaps with other social sciences including psychology, sociology, international relations, political science and more. That’s because this field is a way of thinking in itself that trains you to analyze problems, how to build structured arguments and to interpret data. For instance, take the government’s decision in Pakistan to increase petrol prices in response to global oil market changes. An economist would look beyond the price tag, focusing on what led to such an outcome, how it affects different income groups, and what long-term impacts it might have on inflation or public spending. More importantly, they can help tailor policy responses such as subsidies or fiscal adjustments to steer the country through crises and protect those who are most vulnerable.
An economist is trained to think critically, act rationally, and respond thoughtfully. They’re equipped not just to understand the world – but to shape it.