Because it helps us to understand many forms of human interaction. Examples include the production and sale of goods and services, the employment of workers, trade between nations and the flows of finance around the world. It also helps us to predict the economic consequences of human actions and thus provides information to governments, firms and other decision makers.
It is concerned with how society sets about meeting people's demands for things they want to consume. It looks at the production, consumption and sale of goods and services, both at the level of individual products, firms and consumers and at the level of the total production and consumption by countries. It also compares alternative ways of using the limited resources that countries and individuals possess and considers how efficient and/or fair such alternatives are.
Because it will give you an insight into the way economies work and how individuals, firms and governments can make better decisions about how to use limited resources. It will equip you with a range of techniques and skills and with methods of analysing problems that will make you a more effective employee and a more informed citizen. Because of their particular skills, economics graduates can command some of the highest salaries available and have a firm foundation for developing additional skills required in specific occupations.
No, although money is a very important element in economics. Economics is about the production, consumption and exchange of goods and services. Money is normally the medium through which such exchange takes place. Also the total amount of money available in the banking system is a vital element in the health the economy. Too much money can lead to prices rising (inflation) and this can lead to a range of other problems.
Economics relates to a whole range of other subjects. Most economics degrees, even single honours economics degrees, will involve you studying other subjects to some extent. Economics is a social science, so it is closely related to subjects such as sociology, politics and international relations. To have a good grasp of how economies function, it also helps to be able to see economic problems in their historical context and how economic ideas have developed over time. For this reason, economics is closely related to history. Other subjects that are closely related to economics include business studies, human geography and psychology.
To be able to analyse economic problems, you will use a number of techniques. Some of these are mathematical and/or statistical. See below for how much maths is involved in an economics degree.
Approximately one-third of economics students are female.