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One can clearly see how Economics has overtaken all other fields.
Wolfers (2015) gives an explanation of the development in question by arguing that the Great Depression was the major reason why Economics took over. The government needed to devise a way that would relieve the country from the economic strains that it had gone through. The economist came in handy. Major focus and importance was given to Economics as it gave answers to the existing problems as opposed to Psychology or even Anthropology (Wolfers, 2015).
In the work, the author also explains that Economists are also consulted in numerous fields today, including fields that touch on social issues (Wolfers, 2015). This explains why Economics has become a major for many students, as the field is extremely marketable in the job market. The popularity of the field is also expected to increase with the years.
From Wolfers’ (2015) work, I agree that the field of economics has taken over the field of Social Sciences. In the present society, it is evident that a huge percentage of articles, even in the archives, mention concepts related to economists. The number of articles on Psychology, Sociology and other arts are reducing by the day. This explains the extent in which the world is shifting towards an economic turn.
Wolfers (2015) also explains that the rise of economy began in the 1980s to date. This can be linked to the Great Depression that caused massive impacts on the economy of the country. After the catastrophe, the government opted to come up with stringent measures that would prevent such an occurrence (Wolfers, 2015). This explains the great interest in economics. I agree with the author’s sentiments as the government was obligated to come up with measures that would see to a stable economy.
The historians that had taken up a huge share of the market had no place, and were slowly overtaken (Wolfers, 2015). I believe the economists were justified. No government
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Economic growth was pegged on private sector's response to consumer demands. A country's economy is influenced by different factors ranging from policies to current financial conditions in the market (Bureau of International Information Program para 3). The government affects the economy through its policies it, that either attracts or discourage investors at both local and international fronts.
An economic decision involves weighing the related costs against benefits. Also, making an economic decision depends on self interest where a person looks for ways of maximizing the utility gotten from the expenses. Money only influences how much one can afford when allocating to different wants.
This could be true because I could not wear certain clothes or board certain vehicles; I was extremely choosy in what I wore, its brand and cost. This was contributed by the welfare of my family, which was among the rich families
s given me a head start in many aspects of my academic life in the sense that I have had the opportunity to participate in practical situations in areas related to my accounting field. Besides, I developed the enthusiasm to expand my knowledge particularly in the accounting
Therefore, this course will play a significant role in understanding how to deal with the clients and my fellow subordinates. Furthermore, it will enlighten me on how to be competitive and dynamic in order to remain relevant in the banking industry.
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