Economics, Business and Law

Group 3's Mahara page about Economics, Business and Law

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DO YOU WANT TO BE RICH?

A lot of discussions are now among the students whose is better: lawyers or businessman and what is more difficult - law or business/economics. Before saying what is batter business/economics or law let’s look on their wealth. We do not want fight because of this, therefore, we should look on a data and make our own findings Here is a table of richest lawyers and businessman:[1]

 


 

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TO STUDY BUSINESS

  • YOU WILL MAKE MONEY
  • YOU WILL ENJOY THE TEAM WORKING
  • YOU WILL TRAVEL A LOT 
  • YOU WILL BE IN CONTACT WITH AN INTERNATIONAL ENVIRONMENT
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WHAT ARE THE SKILLS REQUIRED?

Some of the essential skills are common for all three courses: Law, Business and Economics. Among those are keeping up with current affairs and analyzing the given information , statistics and evidences accurately. However, they also have some significant differences. For instance, to be successful in the field of Law, you have to do a lot of critical reading and practicing your evaluation skills. For Business you should have a fair knowledge of how the market works and how to make benefit of it. And finally, for Economics you should be able to deal with ever-changing situation on stock markets and to make some economic predictions based on it.

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TO STUDY LAW

  • YOU WILL HAVE THE OPPURTUNITY TO MAKE A SOUND DIFFERENCE TO SOMEONE' S LIFE
  • YOU WILL FIND OUT HOW LAW INTERFERES TO ALMOST EVERY SPHERE OF OUR LIFE
  • YOU WILL HAVE THE PERFECT OPPORTUNITY TO MASTER YOUR ANALITICAL AND CRITICAL THINKING SKILLS
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TO BE A GOOD SOLICITOR YOU NEED TO HAVE :

- ability to assimilate much information and determine main ideas out of it

- ability to be patient and focus on something

- excellent communication skills which enable one to clearly represent their own ideas

- good listening skills an ability to listen calmly and carefully  

- strong organisational skills

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TO STUDY ECONOMICS

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ECONOMICS

The study of economics has provided a systematic framework for analyzing, researching, writing, and teaching about a wide array financial and regional economic issues. It provided  a methodology for understanding and making sense of our complex environment. 

Behind this definition are two key ideas in economics: that goods are scarce and that society must use its resources efficiently. Indeed, economics is an important subject because of the fact of scarcity and the desire for efficiency.

Samuelson and Nordhaus declare that, "Throughout the world economists are laboring to collect data and improve our understanding of economic trends."Economic analysis, both theoretical and empirical, can generate important insights into individual and aggregate behavior and relationships, and help in society’s efforts to use scarce resources in a more efficient manner.

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