Inspired by the macroeconomics course I am currently self-learning, I wanted to share a new perspective that has donned on me since the beginning of semester 2.
Prior to second semester Grade 12, I had essentially zero experience in the economic world. (Unless you count the financial literacy class I took in Grade 8.) I was first introduced to the possibility of taking an econ course by one of my close friends, who had taken both AP Microeconomics and AP Macroeconomics. With some spare time, I thought, why not give it a try? And so starting in February, I began to watch online videos and learn the material in preparation for the exam in May.
A few weeks after I started, my parents started to have conversations about their personal finances. Nearing the age of retirement and having no previous knowledge about investing, saving, and other important financial tools and information, I saw them attend webinars and info sessions almost daily. Thanks to my self-studying, I am now able to be a part of that conversation and even help provide occasional advice.
While initially the content was a bit monotonous, it gradually picked up and now it’s definitely one of my favourite classes! My favorite part about macroeconomics so far is how easily you can apply your knowledge to the real world and understand financial decisions made by governments, corporations, and more.
Besides helping out family and sheer interest, there are also many practical reasons to learn economics—whether on your own or in class. First, because of compound interest, starting financial savings early is tremendously advantageous. Other aspects, like life insurance for instance, also become increasingly expensive as we get older. So, if we are financially literate as young adults, we can set ourselves up better for financial security later on our lives.
Furthermore, nearing the end of high school, I am often part of conversations discussing which career to pursue—and which make the most money. However, earning income means little if we do not know how to manage our finances. Thus, even if you don’t necessarily want to become an economist, becoming aware of the financial world in which we live helps anyone working any job.
So, I urge everyone, even if you don’t think you’ll enjoy it or have the time, to at least dip your toes into the world of economics. You surely won’t regret it.