Economics Reflection

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This course and the information I have garnered from it will be of vital importance to my personal, academic, and professional understanding of the world and how money moves through it. There is much to learn in the field of economics that is ripe for application to daily life. Both macro and micro economics are essential when striving to understand relevant economic factors such as inflation, demand, and changes in currency among others. A strong knowledge base in economic principles assists in the financial planning process in the workplace and in each of our individual personal lives. Numerous activities of importance pertaining to business transactions, planning, and decision making are aided immensely through learning concepts of economics. The provision of sound financial advice on factors that stimulate the growth and development of business is possible through the lessons taught in economics. Here are three examples of how I am implementing economic principles in my professional and private life. In our professional lives, we are faced with several challenges which require the application of our economic education. One way the materials that I have learned this course have aided in coming up with a data-based solution for reducing the cost of operation in the company. A more thorough understanding of the concept of scarce resources and resulting rules of supply and demand have provided the skills of managing company resources in such a way as to optimize each

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