Why study Economics?
One of the uses of economics is to explain how economies, as economic systems, work and what the relations are between economic players (agents) in the larger society. Methods of economic analysis have been increasingly applied to fields that involve people (officials included) making choices in a social context, such as crime, education, the family, health, law, politics, religion, social institutions, and war.
Although discussions about production and distribution have a long history, economics in its modern sense is conventionally dated from the publication of Adam Smith's The Wealth of Nations in 1776.
In a context of less developed economies where there are scarce resources, low income per capita, low standard of living and low life expectancy, the aim of teaching Economics is to give students a grasp of the main issues and problems that LDCs are faced with.
Acquisitions of the necessary skills wilt in turn enable students appreciate and participate in the formulation and design of appropriate economic policies geared towards achieving rapid and sustainable economic development.