Incentives for Economics Major and Understanding Economics Essay

Incentives to Apply for Economics Major and Understanding of it
I applied for economics major because I want to understand how economic entities utilize scarce resources to produce valuable outcomes. I also believe a major in economics will put me in a better position to make important decisions in my everyday life. The incentives that drove me to apply for an economics major are prior knowledge in economics, possession of analytical skills, and the need to gain an in-depth understanding of economic phenomena.
Having studied microeconomics and macroeconomics in undergraduate, I have prior knowledge of many economic aspects. In microeconomics, I learned and understood how individual actors such as business owners, sellers, and buyers make decisions while in macroeconomics I got to understand how the economy as a whole works. Therefore, the knowledge I gained as an undergraduate gave me the foundation needed...