Maths key to pursuing career in economics

Maths is not just for students taking STEM and economics. Students in other courses ought to have a working grasp of maths as well.

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Last week, the government made mathematics an optional subject for students who choose the social sciences, arts, and sports science pathway in senior school. However, students who wish to take the STEM pathway are expected to study it.

The decision ignored that certain courses, even though inherently social, require maths to study and apply effectively. Undisputedly, economics is one of them.

Mathematics is used in economics to test theories, perform research, and understand trends. Economists use mathematics to identify and synthesise complex problems using numerical and statistical techniques.

Economic theories rely on mathematical techniques to attempt to explain real-life problems. This is why it should be compulsory for students who might wish to pursue a career in economics.

Firstly, modern economics employs mathematical statistical methods in the development and illustration of economic theory or assumptions.

Economic analysis has significant reliance on math models and statistical analysis, particularly in quantitative economics and econometrics.

Economics is indebted to English economist, Alfred Marshall in the use and application of mathematical concepts in deriving, applying and interpreting economic behaviour. He was one of the earliest mathematicians and economists to apply rigorous mathematics in economics to illustrate real-world applications of theories in the study of supply and demand.

Calculus and statistics are the butter to the economics’ bread. Competency in mathematics has been a requirement to undertake a degree in economics.

Secondly, Kenya should adopt trends in global best practices.

In the US, for example, The National Centre for Education Statistics (NCES) classifies programmes focusing on the systematic study of mathematical and statistical analysis of economic phenomena as “econometrics and quantitative economics,” which is a STEM designation, moving away from its social science classification.

It is for this reason that universities and colleges in the US have now reclassified economics as a STEM discipline. Elite universities like MIT, Yale, Brown, Princeton, Harvard, Cornell, Columbia, Stanford, and the University of California are some examples.

Economics has recently, more than ever, been acknowledged as becoming more scientifically inclined. The inclination has an inherently mathematical thrust. The reason it should be compulsory.

Thirdly, an economist is required to have excellent numerical skills, which encompass the ability to understand, interpret, and apply mathematical concepts to analyse economic data and models.

These numerical skills are essential in data analysis, economic modelling, policy analysis, and problem-solving.

Kenya needs economists with solid background in mathematics to tackle the ordinary business of life people of all strata grapple with.

An economist cannot recommend policy actions to ease the burden of living for all of these people with the certainty it requires without mathematics.

It is for these reasons that an aspiring economist requires advanced-level mathematics to fully grasp basic concepts in introductory university economics classes. We are likely to have fewer students graduating as economists should we dispense with mathematics.

Maths is not just for students taking STEM and economics. Students in other courses ought to have a working grasp of maths as well.

Making mathematics optional for students in formative years is counter-productive. It plays a crucial role in many non-STEM professions, helping with business management, financial planning, and decision-making.

For example, calculus helps businesses determine optimal production and inventory levels to maximise profits, while algebra identifies relationships between real-world variables to solve problems and seize opportunities.

Logarithms are regularly used by academic researchers to draw relationships between various variables.

Professionals in business across fields—lawyers, mechanics, psychologists, journalists—regularly interpret data through charts and graphs to make informed decisions.

Are sales increasing? Is employee pay linked to productivity? Is the business ready to expand? What are the results of this survey conveying? What is the likelihood and outcome of the occurrence of a negative event? Without a solid foundation in mathematics, making sense of such data can be challenging.

While not as intensive as STEM fields, many professions still require advanced mathematical skills. Simply mathematics is in everything.

The government should investigate one of two things. First, mathematics should be a compulsory subject in all paths or disciplines at the basic education level.

Second, the government may reclassify Economics as a STEM discipline to ensure that future Kenyan economics have a strong foundation in mathematics to succeed in Economics at higher education level and competently practice economics.

Amayoka Buhere is a Economist

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