Outside of all the practical applications related to your career, studying economics has a huge net benefit to your overall life.

The laws of economics don’t exclusively relate to money or the economy. With a basic understanding of economics you can better understand interpersonal relationships and why people act as they do. You can manage your resources more effectively, knowing when to spend time on certain things and when to abandon something as useless.

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Economics causes you to apply rationality to your life and treat your time and your happiness as resources that you have active control over. This is incredibly empowering, and in my opinion leads to a happier existence overall.

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