Economics is a science that deals with the production, distribution, exchange and consumption of various goods and services within a particular country. Economics is at the heart of many issues and problems facing the world today, from poverty and unemployment to inflation, the challenge of sustaining economic growth and the interplay of government, business and financial institutions. Because of these important aspects Economics plays a very crucial role in the education structure of NIOS Board in SS Coaching.
Ask most students in an economics class why they are there, and most will probably reply that the class is a requirement for graduation. While it is true that most colleges and universities require students to complete at least one economics course as part of their core studies, the benefits of the class extend far beyond the mere fulfillment of graduation requirements. Studying economics confers a range of personal and professional benefits.
In addition to making the student a more sophisticated and knowledgeable participant in the economic system, studying economics provides valuable insight into the role of government in an economy. One of Mankiw's principles of economics is that government can sometimes improve market outcomes. Studying economics, he writes, can deepen students' understanding of political and economic events, as well as help them understand the limits of government action relating to the economy.
"Education is a better safeguard of liberty than a standing army. "
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