Perception of Economics

In my opinion, Economics is one of the most essential subjects, and its understanding is very important in modern world. Now our life is full of changes and difficulties. And i don't talk only about moral but also problems with wealth. If we look at the current situation, the US in the recession and this affects world prices and if we don't understand economics our life would become more difficult. All these changes affect consumers’ demand in cases that some types of goods which are non-essential, like cars, expensive electronics and etc. may suffer from decrease in demand because of inflation. And perception of Economics would mean that consumers are updated with all the news and may have approximate forecast for the future and so plan their budget. Perception of Economics means for all of us preparing for our future economic situation and be aware of all the changes in economy. And not only consumers get benefits of understanding the economics but Government by introducing new policies don’t need to bother itself by explaining all the possible consequences of its actions and calming down the population, but also it could be possible for the government to manipulate with people’s actions. And as it was said in the article that we were given: “creating a perception of economic wellbeing can materially impact the economy in an indirect sense by influencing consumer and business willingness to spend, therefore potentially reducing the length or depth of a downturn.”