In the ever-changing and dynamic South African climate, choosing a career in Economics can be an extremely exciting and satisfying one. As an Economist you will be able to make a change and understand how the impact of our choices affect each other and the country’s entire economy.
It truly is an interesting time to be alive and thanks to IIE Bachelor of Commerce in Economics (BCom Economics), an Economics Degree from IIE MSA, you will be able to develop policy and advise industries like the financial sector, private business, government agencies, industrial sectors, trade associations and much more.
To find out about studying Economics at IIE MSA call 011 950 4009 or email enquiries@iiemsa.co.za now.
What is Economics?
Simply put, economics is about choice and the impact of our choices on each other. Economists study the ways a society uses resources such as land, labour, raw materials, and machinery to produce goods and services. They analyse not only the demand and supply, but also the costs and benefits of distributing and consuming these goods and services. Economists conduct research, collect and analyse data, monitor economic trends, and develop forecasts.
Within Economics there are two sub-sectors, namely; microeconomics and macroeconomics. Microeconomics is focussed on understanding how the behaviour of individuals in deciding how scarce resources are allocated, affects them and others. It also looks at how economic policies, such as tax, can affect these individuals. Macroeconomics on the other hand studies factors that concern the economy as a whole by looking at things like performance, structure, behaviour, and decision-making.