An easy answer would: because I'm interested in economics.
More specifically, economics addresses many interesting problems in modern society.
Macroeconomics: how do we eliminate cyclical depressions?
Environmental Economics: how do we properly make decisions regarding the valuation of non-market goods?
Behavioral Economics: how can we explain the possibly non-rational behavior of people.
Development Economics: how can we encourage growth in developing countries.
Just a few issues in economics - people who find such things interesting are drawn to economics.
It demonstrates to an employer that you have a business relevant analytical skillset.
The pessimist in me would also say that it demonstrates that you are willing to 'subjugate an opportunity to get an education to prove to a prospective employer that you believe in the primacy of economic life.'
So, you think you might want to study economics or econometrics, but you are not sure what it is or what it might do for you?
In the 2010 spring issue of The American Economist, a journal published by Omicron Delta Epsilon, an international honor society dedicated to economics, included an article written by Patricia M. Flynn and Michael A. Quinn, both of Bentley University, in the United States. In their article, “Economics: Good Choice of Major for Future CEOs,†they examined the relative success of economics majors in achieving the top spot in S&P 500 companies. They found that, overall, engineering majors, business administration (similar to business management) majors, and economics majors, were the most likely to be CEOs of S&P 500 companies. However, when they further accounted for the relative popularity of the degrees, they found that economics majors were the most likely to have made it to the boardroom, followed by engineering (2/3 as likely as economics), business administration (2/5 as likely as economics) and political science (1/3 as likely). In other words, the critical analysis skills developed through the study of economics are highly appreciated by multinational corporations.
Unfortunately, similar studies are not available for South African corporations, at least those that are not included on the S&P 500 list. However, economists are very important in the South African context. Economists help develop policies that are consistent with growth objectives. Economists work within the South African Reserve Bank to develop and implement monetary policy. Economists also work for National Treasury, the dti, the Competition Commission and many other very important government agencies responsible for taxation, economic policy and regulation. Economists are important contributors to the banking, finance and insurance sectors of the economy. Economists find themselves in important research positions throughout the country, working for consultancy firms, market analysts, and many other firms interested in improving outcomes for their firms or their clients. Finally, economists work with many aid organizations and non-government organizations that are interested in community development, health, and other areas of social importance to South Africica.
