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Benefits of learning Macroeconomics in my life - Essay Example

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This essay "Benefits of learning Macroeconomics in my life" describes how studying macroeconomics helps you understand an issue of how to identify favorable locations for production, identify the opportune time to elevate or minimize the price of products, and also know what to buy and when to buy…
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Benefits of learning Macroeconomics in my life
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Download file to see previous pages Based on the fact that I am pursuing a course in economics, my dream has always been to become one of the most successful economists in the country. Being a successful economist would involve being a Chief Executive Officer of a manager in the most respected organizations in the world. These roles necessitate one to have a wide range of knowledge in macroeconomics as well as other fields associated with economics. Being a top official in a highly respected organization involves a lot of interviews in televisions and radio stations. In doing so, an individual offers insight into the happenings of his organization and hence this can be considered a form of marketing. Furthermore, one of the units learnt in macroeconomics is leadership. Therefore, learning macroeconomics has enabled me to learn and gain leadership skills and abilities. Learning macroeconomics will ensure that I familiarize myself with all aspects of preceding and current economic issues of benefit in my future role as a top executive. Successful organizations in all parts of the world are governed by distinct rules and regulations. For managers to implement plans of actions geared towards enhancing and maintain organizational structures, incorporation of skills and knowledge in macroeconomics is critical. The study of macroeconomics involves investigating behaviours of various organizations and other successful institutions. Therefore, learning macroeconomics presents me with knowledge on how to create and implement organizational rules. and guidelines associated with macroeconomics.
In general, the study of Macroeconomics is involved with investigating comportment, performance, or conduct of the economy. It would be hard for me to implement economic policies without understanding various market conditions such as fluctuating prices of commodities and services. Conditions in the economy are always changing. This can be attributed to the current advancements in technology and globalization. These are some of the factors that determine the price of commodities and services. Researchers have in the past been involved in methodical investigations geared towards identifying why market conditions are ever changing. Results from these studies are very important and are incorporated in the study of economics (Mankiw, 2011). Learning economics has enabled me to gain skills and abilities that will help me predict market conditions in future.
Learning macroeconomics comprises of identification, measurement, and comparison of economic assessments from a range of markets and from different countries or regions. It also involves tracking various aspects that affects market conditions and how to create and implement strategies in practice that would mitigate effects of poor market conditions. An individual can effectively understand market conditions through observing previous market trends. Understanding or analyzing these trends requires one to have certain skills and knowledge that can only be acquired through learning macroeconomics. Therefore, I will be able to follow these trends in future and identify opportunities for investments.
There are times market conditions are dilapidated and at other times the market is stable. Understanding the concept of supply and demand is of benefit to businessmen today (Madariaga, 2005). As an economist and businessman in future, I ...Download file to see next pagesRead More
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