Education in Economics is Important

Ms. Ankita Sharma is an economics teacher in Seedling International Academy, Jaipur with 4 years of teaching experience. She is keen on developing an environment in class in which students understand new economic policies and the importance it plays in improving the country. Ms. Ankita has received the 9th rank in Economics Honours from Rajasthan and has received a medal for the same.


In the present era, there exists a strong relationship between economics and education. Economics is all about how to make decision for proper allocation of resources in the presence of scarcity. In present times, we require to use human resources in a very crucial way. The development of human resource depends upon good educational level and proper health services. Now it’s the time to shift from labour based economy to knowledge based economy. Therefore, to meet the requirement of present times we have to make the changes in the economic system considering the type of education system we are following and the methods we are adopted for the same. In order to develop the economy as a knowledge based economy we have the take the crucial decision regarding various fiscal and monetary policies in the field of education. Policies are to be formed to make education less and less expensive and more productively efficient. Economics help the young people to understand relevancy of each economic unit e.g. government its working and inflation rate etc. Knowledge of economics transform the present youth in such a way that they can take right and required decision with full utilisation of resources and full efficiency level. Economics also help young youth to understand various problems of economy like unemployment, low growth and reasons behind them. Therefore, economics is very important part of education system.