Economics is the study of how people and group of people use their limited resources. As we all know that there are unlimited wants but to satisfy that unlimited wants resources are limited. Economics tell us how to use limited resources to satisfy unlimited wants. Economics provides the framework for understanding the action and decisions of individual,
business and govt. From the study of economics, one can easily judge, why and how the prices have rises or fallen in market.
Now a day Economics has become the centre of various activities. Each and every subject is viewed from its economical angle because one always likes that subject which fetches more money in future. With the knowledge of economics, the consumer can better adjust his expenditure to his income. The study of economics is also useful to a producer to take important decision like, which combination of factor of production he will use or which product they make or not. Economics also provides an excellent foundation for a student who wants their career in Banking. Insurance, Real estate, Manufacturing firms and Government agencies. The study of Economics also helps in acquiring knowledge of his country as well as other countries of the world like, foreign trade, foreign exchange, progress and downfall of culture.
To make more interest of generation in Economics teacher can use different technique like lecture method and discussion. Economics can be better understood with discussion method. The discussion is an active learning experience for students because problems can be better understood with discussion. It involves two way communication. Teaching methods are effective when teacher adopts inspirational approach like short written
exercise is often used as the “one minute paper”. Quiz is also one of the techniques used to test the students involvement.
While these are important elements, economics is about much more. It provides a means to understand interactions in a market driven society and for analysing government policies that affect the families, jobs and live.