Sponsored by Yew Chung International School of Beijing (YCIS Beijing) –YCIS Beijing is has a long history of academic achievement with five educational accreditations and a award from Cambridge International Examinations. YCIS Beijing is registered as a school for children of foreign nationals offering international education for students in kindergarten through to Year 13 and graduation to university. For more information, please email: firstname.lastname@example.org
The results of a recent global student survey stated that the most popular courses to study at university were those in business and related subjects, including finance & accounting, economics and administration, with economics ranked third. Economics was also ranked fifth among the most searched-for courses on the Daily Telegraph’s University Course Finder according to an article in early September. With an increasing number of state and international courses now offering Economics study at an earlier stage, prior to university entrance, it is important to find out why the course is becoming so popular and what students can learn from this subject.
Economics can answer so many questions that people ponder over every day including the questions of why governments create certain laws, why the financial crisis occurred and what factors prompt migration trends across the globe. It appears that the reason of applying economics to the real world is of great fascination to students. Prachi Gupta, Economics teacher at Yew Chung International School of Beijing (YCIS Beijing) believes this knowledge is of great importance, “Economics is the study of interactions between individuals, businesses and the government. To prepare our children for the 21st century we cannot keep them isolated from Economic knowledge. As adults and productive members of society they will be earning, spending, investing and saving money. They need to build skills to understand the dynamics of this which applies to everyone across the world.”
Students at YCIS Beijing are offered Economics as an individual subject from Year 10 (age 15) through to graduation. The topics and content cover a wide range of knowledge as Gupta explains, “Our students develop not only subject specific skills but also learn skills that could be applied to other subject areas. Students will be able to analyze complex data, learn basic numeracy, problem-solving and analytical skills, which will develop logical and critical thinking skills.We have to follow the structure as prescribed by the curriculum of Cambridge International Examinations and the International Baccalaureate but we can undertake in-depth analysis as most economic problems and case studies have secondary effects such as the deadweight loss from taxation and the impact economic decisions have on society, people’s behaviour and the environment. Microeconomics is taught at the beginning of the course and can take slightly more time to master because students are still developing basic skills. When the concept is clear at the micro level, students are then able to apply their knowledge to macroeconomics.”
Although the benefits of every-day knowledge are important, it cannot be ignored that studying Economics can open a huge amount of job opportunities for students. With an economics degree, students will have a number of industries in which they can enter after their eventual graduation from university such as finance, banking, sales and marketing, politics, government and many more interesting and widespread fields.Gupta is certain the tools learnt from studying Economics will lead to successful careers for students at YCIS Beijing, “Through studying Economics and in particular being able to recognise the consequences of decisions, students will become invaluable assets to all companies or organisations they choose to work for, that is, if they do not start their own company. This ability is vital for organisations in order to make correct decisions that may improve efficiency, maximise the use of resources, and make better investment and employment choices. This area of expertise at this time in particular will absolutely provide students with the necessary skills that will give them a great advantage when they graduate from university and start their careers.”
Through the study of Economics,students can not only make better decisions about their personal lives, they can make a positive difference to others. YCIS Beijing prides itself on preparing students to become leaders who care deeply about their society and the study of Economics at an early age is just one of the vast numbers of opportunities that allow this vision to come to fruition.
Photos: courtesy of YCIS