If I mention economics, do you think of graphs, equations, math concepts or just a bunch of fancy scribbles that have no real meaning in life? If the answer is yes, let me tell you more. The laws of economics affect you every day, and the laws are much more than mathematical theory. Economics is a living social science that helps explain human action. It analyzes the effects of what people do using the tools of logic, statistics and mathematical analysis.

Economics makes you think critically and stand up for your values using logic unclouded by emotion. It makes you grow intellectually by uncovering the driving forces of our reality. If you think about it, what better subject can analyze our world than the one that centers its attention on the behavior of individuals and their interactions?

Economics is everywhere in society. This might sound like a pretentious statement, but it is true. Markets are used to predict outbreaks of the flu. Economics has been used to catch sumo wrestlers cheating. Behavioral economics closely studies human and social factors.

Look around and consider your daily actions. Every morning you wake up, wash, get dressed and put your shoes on. All of these actions are purely automatic. You don’t even think about it while you are doing them.

Have you ever thought about who made it possible for you to have clothes, shoes and everything you need throughout your daily life? Individuals all over the world contribute to some degree, somehow, somewhere, in the production of everything that you buy. Everyone’s decision to buy something or to work at a particular job all determine supply and demand. The market, through supply and demand, makes our entire standard of living possible. Understanding markets helps us understand why and how we live the way we do.

Think about your college experience. When your favorite bar offers beer specials, do you buy more or less to drink? More, obviously. Why? Well, because beer is cheaper, and you can afford more. This is the law of demand. It is one of the basic ideas in economics, and this same exact scenario happens for many other goods in many different situations.

Admit it or not, everyone’s daily actions are driven by economic ideas. Your life is guided by economics. This is the reason why economics is tied to all other fields of knowledge – sociology, psychology, history, finance, political science and journalism are just a few examples.

The Loyola Economics Club wants to highlight the fact that economics is a living science. We make connections between all fields of study, and we bring in speakers that will give more insight of what is going on in today’s society. We present different perspectives so you can really understand what economics is about.

I hope I’ve sparked your interest enough. Come to one of our meetings and see for yourself. Sometimes knowing economics is engaging and can get you fired up.

The Loyola Economics Club meets every other Tuesday during the window in Miller Hall room 208. Our next meeting will be on Tuesday Oct. 21 and Walter Block, economics professor will lead a discussion called “There is No Such Thing as Market Failure.”

Jennifer Moreale is an economics junior from Udine, Italy. She can be reached at [email protected].

If I mention economics, do you think of graphs, equations, math concepts or just a bunch of fancy scribbles that have no real meaning in life? If the answer is yes, let me tell you more. The laws of economics affect you every day, and the laws are much more than mathematical theory. Economics is a living social science that helps explain human action. It analyzes the effects of what people do using the tools of logic, statistics and mathematical analysis.

Economics makes you think critically and stand up for your values using logic unclouded by emotion. It makes you grow intellectually by uncovering the driving forces of our reality. If you think about it, what better subject can analyze our world than the one that centers its attention on the behavior of individuals and their interactions?

Economics is everywhere in society. This might sound like a pretentious statement, but it is true. Markets are used to predict outbreaks of the flu. Economics has been used to catch sumo wrestlers cheating. Behavioral economics closely studies human and social factors.

Look around and consider your daily actions. Every morning you wake up, wash, get dressed and put your shoes on. All of these actions are purely automatic. You don’t even think about it while you are doing them.

Have you ever thought about who made it possible for you to have clothes, shoes and everything you need throughout your daily life? Individuals all over the world contribute to some degree, somehow, somewhere, in the production of everything that you buy. Everyone’s decision to buy something or to work at a particular job all determine supply and demand. The market, through supply and demand, makes our entire standard of living possible. Understanding markets helps us understand why and how we live the way we do.

Think about your college experience. When your favorite bar offers beer specials, do you buy more or less to drink? More, obviously. Why? Well, because beer is cheaper, and you can afford more. This is the law of demand. It is one of the basic ideas in economics, and this same exact scenario happens for many other goods in many different situations.

Admit it or not, everyone’s daily actions are driven by economic ideas. Your life is guided by economics. This is the reason why economics is tied to all other fields of knowledge – sociology, psychology, history, finance, political science and journalism are just a few examples.

The Loyola Economics Club wants to highlight the fact that economics is a living science. We make connections between all fields of study, and we bring in speakers that will give more insight of what is going on in today’s society. We present different perspectives so you can really understand what economics is about.

I hope I’ve sparked your interest enough. Come to one of our meetings and see for yourself. Sometimes knowing economics is engaging and can get you fired up.

The Loyola Economics Club meets every other Tuesday during the window in Miller Hall room 208. Our next meeting will be on Tuesday Oct. 21 and Walter Block, economics professor will lead a discussion called “There is No Such Thing as Market Failure.”

Jennifer Moreale is an economics junior from Udine, Italy. She can be reached at [email protected].