Many junior college (JC) students opt for the ‘PCME’ subject combination without much consideration, where the ‘E’ represents Economics. In Singapore, Economics ranks among the most popular subjects for A-levels. However, the issue lies in the lack of thoughtful consideration regarding whether these subjects align with students’ interests and aptitudes. Many students overlook the possibility of choosing alternative humanities subjects like History or China Studies in English. In this article, we’ll delve into the reasons why learning Economics in JC might be advantageous, allowing you to make an informed decision about whether it’s the right subject for you.

What exactly is Economics? While commonly associated with money, Economics encompasses far more than financial matters. At its core, Economics is the study of how societies allocate their limited resources. It revolves around the fundamental concept of unlimited human wants conflicting with finite resources. Through concepts such as the “invisible hand” and “supply and demand,” Economics elucidates how resources are distributed within countries and sheds light on why certain nations consistently outperform others.

Excited to learn more? Below are seven compelling reasons to consider studying Economics in JC.

Understanding Resource Allocation: Economics offers insights into how societies make decisions regarding the allocation of scarce resources. By comprehending economic principles, you gain a deeper understanding of how goods and services are produced, distributed, and consumed within an economy.

Insight into Global Affairs: In an increasingly interconnected world, knowledge of Economics equips you with the tools to analyze and interpret global economic trends and events. Whether it’s understanding the impact of trade agreements on national economies or predicting the consequences of currency fluctuations, Economics provides a lens through which to view complex geopolitical issues.

Critical Thinking Skills: Economics fosters critical thinking by encouraging students to analyze and evaluate data, theories, and policy implications. Through rigorous analysis of real-world scenarios, students develop the ability to identify underlying causes, assess multiple perspectives, and formulate informed judgments.

Policy Analysis: Economics empowers individuals to evaluate the efficacy of various policy interventions aimed at addressing societal challenges. Whether examining the impact of taxation on income distribution or assessing the effectiveness of environmental regulations, Economics equips students with the analytical tools to assess the costs, benefits, and unintended consequences of policy measures.

Preparation for Higher Education and Careers: A solid foundation in Economics opens doors to a wide range of academic and career opportunities. Whether pursuing further studies in Economics, Business, or related fields, or entering professions such as finance, consulting, or public policy, Economics equips students with valuable analytical skills and a nuanced understanding of economic phenomena.

Interdisciplinary Connections: Economics intersects with various disciplines, including history, sociology, political science, and environmental studies. By exploring these interdisciplinary connections, students gain a holistic understanding of how economic principles interact with broader social, political, and environmental factors, enriching their academic experience and worldview.

Empowerment and Civic Engagement: Economics empowers individuals to engage meaningfully in public discourse and civic life by providing them with the knowledge and tools to understand and advocate for policy changes that promote social welfare and economic prosperity. Whether addressing income inequality, healthcare reform, or climate change mitigation, Economics equips students with the analytical skills and evidence-based arguments needed to effect positive change in society.

In conclusion, while many JC students may default to studying Economics as part of their curriculum, it’s essential to consider whether this subject aligns with their interests, goals, and aptitudes. Economics offers a wealth of insights into resource allocation, global affairs, critical thinking, policy analysis, career opportunities, interdisciplinary connections, and civic engagement. By carefully weighing these factors, students can make informed decisions about whether Economics is the right subject for them, setting themselves on a path to academic success and personal fulfillment.