Economic lessons near me

About Economics

Economics is a social science that is concerned with the production, distribution and consumption of goods and services. This field focuses on the behaviour of individuals, governments and corporations and how they choose to allocate resources. Although most of the time the topic revolves around wealth and finance, it’s not always about money.

Economics can be split into two:

Microeconomics - is a branch that focuses specifically on the behaviours of individuals. While macroeconomics looks at the bigger picture, microeconomics carefully follows the actions of people, households, companies etc.

Macroeconomics - focuses more on the structure, behaviour and performance of the economy as a whole. It studies how the entire markets function and tracks inflation, economic growth, unemployment and GDPR.

What am I going to learn if I study economics?

While studying economics you will acquire a vast toolkit of skills that you can apply to a wide range of problems. You will develop analytical, numerical and problem solving skills that will broaden your future career opportunities.

Apart from that, during your studies you’ll focus on mathematics and statistics and gain the ability to apply those skills and solve various problems in fields like finance and business. Furthermore, contrary to popular belief, economics isn’t all about calculations and numbers, during your studies you’ll also gain knowledge in areas such as politics, globalisation, sociology, law, psychology and more.

What career can I follow if I study economics?

Regardless of the industry you’re going for, knowledge in economics will certainly boost your employability. You’ll develop analytical and problem solving skills that are easily transferable and in high demand.

Studying economics gives you a wide range of possible career options to choose from.

Some of the potential jobs you can pursue include:

Accountant
Economist
Data analyst
Financial consultant
Statistician
Investment analyst
Professor

Studying economics gives you a wide range of possible career options to choose from.

What’s the difference between economics and finance?

Although both disciplines are related and often discuss similar topics, they are actually quite different.

Economics is the broader subject and focuses on how products are created, distributed and sold to the consumer. Economics also looks at the behaviours of different markets and even individuals. On the other hand, finance mainly deals with financial systems. It monitors banks, credits, investments, saving accounts etc. Finance is usually split into 3 sub categories: Public finance, personal finance and corporate finance.

Even though they have their differences and you’ll often see them presented as separate subjects, economics and finance will always be interrelated and continue to influence each other constantly.

Is it expensive to start studying economics?

If you’re looking to embark on a career in economics there are different options you can take. A degree in a university will depend entirely on where you want to study. If you want to start preparing on your own, TutorExtra offers a wide variety of qualified tutors that you can choose from. Browse our website and find lessons starting at £30 and going up to £80 depending on the teacher.