What is Economics?
Economics is the study of scarcity. As a subject, it is concerned with trying to get the most out of the limited resources that planet earth has, in order to best satisfy its population. The subject tries to answer three basic questions: What should we produce? How should we produce it? For whom should we produce? From these basic questions, the subject is developed, dealing both in scarcity issues on a small scale (microeconomics) and those on a larger scale (macroeconomics).
Economics combines well with Mathematics and Further Mathematics. It also complements Geography, Sociology and Government & Politics. Students wishing to study Economics at Degree level may think of combining it with a science subject like Physics or Chemistry especially for applications to LSE. This demonstrates mathematical ability at this level.
A good grade in Economics at A level is highly valued by universities and employers because it requires the student to develop a high level of critical thinking and analytical skills. Potential careers include banking, finance, accounting, financial journalism and practice as a private or public sector economist. However, it is an excellent subject for any degree as a high grade in Economics shows that a student has a wide range of skills which are very attractive to universities and employers.