Robert Scott
Robert is 21 years old and studied economics at Cardiff University. He’s currently working and saving up to go travelling next year.
Why did you choose to study economics?
I chose to study economics because it’s an enlightening subject and gives you the knowledge to feel present and confident in your understanding of the world around you. I feel this is because economics is interwoven into almost all current events and news, even in areas where you wouldn’t expect it to come up.
How would you describe economics?
Economics is far more than just finance and banking. Economics, to me, is the framework for growth and a lot of everyday decision making, at a national level and at an individual one. Knowledge of economics can tell you the subtext for massive geo political events and it can also tell you why your food shop is getting more expensive and help you plan the best way to save up for your next holiday. The breadth of application for economics is immense and I find that, that’s one of its most interesting and useful qualities.
If you had a time machine and could meet your 16-year-old self, what advice would you give them?
I would tell myself to learn more about economics in my free time. It’s definitely a subject where it gets more and more interesting the more you know about it. Nowadays you don’t just have to read articles to get more involved, there are videos, audio books and podcasts that offer entertaining and engaging ways to learn more about economics. So it doesn’t have to be boring and feel like studying, it can be really fun.
What is your favourite part of economics?
Personally, my favourite part of economics is macroeconomics. As someone that sometimes feels uncertain when reading the news and trying to understand current politics, growing my knowledge of macroeconomics has been so useful. This is because it is the branch of economics that is concerned with large scale economics factors, such as interest rates and national productivity and these types of factors are often the subject of government policies or news.
Is there anything you would do differently if you had the chance?
I would just try and learn more about economics using videos and podcasts, it’s something I really value and do often now. Economics really is a subject that becomes more exciting the more you know.