The Importance of Statistics and Maths in a BA Economics Program
A BA Economics degree brings together essential tools that help us understand how economies work, make predictions, and solve real-world issues. Among these tools, statistics and mathematics stand as the core pillars. While some may feel a bit apprehensive about diving into equations or learning to analyse data, these subjects offer skills that are both practical and valuable, extending well beyond the classroom. Why Are Statistics and Maths Essential in Economics? Economics is about studying choices—how people, businesses, and governments allocate resources like time, money, and labour. To understand these decisions, economists rely on statistics and maths to gather, analyse, and interpret data. Imagine trying to understand a country's economic growth without numbers to back it up. Statistics allows economists to look at patterns, identify trends, and make informed predictions. Maths, on the other hand, helps bring structure to economic theories. It gives economists the tools t...