Is Economics Hard

Is economics difficult to understand?

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pohnpei397's profile pic

pohnpei397 | College Teacher | (Level 3) Distinguished Educator

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From my experience teaching economics to undergraduates, I'd say that economics is difficult for some people to understand.  I'd say it's harder to understand than history or government or things like that, but not as hard to understand as math or physics (but that might be my own bias because I'm better at social science stuff than at math).

The students who seem to have trouble doing economics are ones who do not have a very good ability to handle abstract concepts and apply them to real world situations.  In some ways, it's like doing a lot of story problems -- you have to take rules and apply them to real life.

So, if you're good at that kind of thing, economics won't be hard.  If you're only good at memorizing facts, it might be harder.

krishna-agrawala's profile pic

krishna-agrawala | College Teacher | (Level 3) Valedictorian

Posted on

Whether or not economics is difficult to understand will depend very much on individual aptitude and interest. Also prior knowledge of some concepts applied in economics is also important factor in determining difficulty of understanding economics.

In general, the basic concepts of economics are simple and interesting for most of the people who have undergone about 10 to 12 years of school studies. It does involve some amount of logical reasoning. It also involves some simple mathematics, particularly use of some simple graphs. Economics up to this level is definitely within understanding capabilities of any average student. It is also likely to be useful to all students irrespective of their other academic interests.

As one moves towards more advanced concepts of economics, the logic tends to become more complex, and use of more complicated mathematical analysis becomes necessary. At this level economics can tend to become boring and difficult for those who are not interested in it. Still someone who is determined to understand this subject for some reason or other should be able to manage fairly well.

Beyond certain stage, economics can become too complex using advanced mathematics. It is best that people who are not really interested in this subject stay away from such levels of economics.

sona471's profile pic

sona471 | Student, Graduate | eNotes Newbie

Posted on

Economics is not difficult to understand. One just need to focus and while studying have to relate things with practical aspects. economics is something in which we are daily involved for an example there is a topic of money supply if u jst analyse 2 words together. U r done with it. Now if u will be given with more money what can you do , you may purchase an ice cream from that or save it to use later. So its just like that it can increase consumption (ice-cream) and investment ( save for future use). if u purchase an aditional ice cream that mean for the vedor of ice cream sales increases. And this increase in money supply must have gone in many hands. That means they all had increaSed consumption that means its profitable to be ice crean vendor. People would like to enter in that busines and thus there will b increase in employment. Simple. 

In economics, there are many subsubjects some relate to theory LIke how our Indian economy faced crisis , why and how they revived.

some relates to practical aspects LIke if this is the data then whats the error. Everything expressed in terms of number and you just need to play with them. For this u need to have interest in maths.

Apart from some knowledge of basic maths.

Economics is easy and actually tells an individual how to look at economy from a new angle.

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