Centered Approach The Study Of Economics â€Myassignmenthelp.Com

Question: Discuss About The Centered Approach The Study Of Economics? Answer: Introducation Remarkably, Christianity is among the top universally recognized religions and convictions hence making the application of a bible centered approach to the study of Economics, not so far-fetched. Christian values and principles application into studies will go a long way in affirming the Christian life for the converted Christians. Due to the changing economic times, theres need to explore and apply Christian teachings to the daily economic life of the Christian folk. Through a Christ based approach to the study of economics, Christians are aware of their history.Despite the advocating of a Christian based teaching approach to Economics, there exist divergent view on economics. For instance, some Christians believe in private ownership or capitalism) as stipulated in Isaiah 65:21-2 while others encourage socialism or communal ownership of property(Acts 2:44-45) thus lacking in a unified examinable approach (Worldview,2017). Through the application of Christ based teaching approaches, there s the widespread circulation of the gospel thus increase in the number of conversions. Through the Bible teaching fair wages, poverty is condemned which encourages a working culture which is encompassed in Economics thus making bible economics complementary to economic principles. Further, some biblical teachings are practical in the modern world. For instance, under the Bible fair remuneration is advocated for which is also the same with economics which advocates for fair wages for fair work and good working conditions. The Bible condemns exploitation of the poor to increase one's wages which are encompassed in labor laws taught in Economics. Moreover, some bible teaching is applicable to the modern world Economics hence the need to teach based on biblical principles. Typically, most economists consider perfectly competitive markets structures as ideal for consumers. Specifically, Leviticus 25:15 and Jeremiah 32:10-12 advocated for free market economies thus making it relevant and practicable to apply bible principles and teachings the study of economics (Elwart 2011).Additionally. economists have advanced theories boosting the application of Christian teachings in the employment sector of capitalist economies (Beed Beed 2005).It is advocated for that worker in capitalist economies should mutually benefit from their hard work and be accountable for their actions.In addition, some of the best-performing companies in the world have adopted consumer protection initiatives with clinical bible origins(Leone 2015).This proves the relevance of biblical teachings in economic activities and opportunities.Most governments have placed consumer protection measures through the enactment of competition and consumer protection Acts which focus on consumer welfa re. Similarly, Bible teachings condemn oppressive and exploitative practices which conform with the modern day doctrines of fair remuneration, good working conditions studied in Economic disciplines Moreover, various Bible scriptures advocate for hard work and prosperity which are covered in Economics. Specifically, Eccl 5:18-2which advocates for hard work and attainment of riches. In addition, financial management is crucial to the lives of both Christian and non-Christian individuals thus the need to pave way for Christian understanding of economic and financial matters(Let God Be true,2017).In a way,1 Thess 411-12, inspires hard work, personal responsibility in business in an honest way. Arguably, this verse advocates for personal responsibility for economic progress which is essential, capitalism which is evident in most economies of the world. Further, the Bible recognizes the importance of financial wisdom and success In the book of Proverbs 26:16, which is what economics seeks to achieve financial security and progress.Also, various bible scriptures are based on financial and economic independence thus the need to use these teachings in Economics. Economics is all about financial security and independence which is supported by some scriptures from the Holy Book. For instance,2 Thess 3:10, says lazy people should not eat which is essence advocates for personal responsibility through hard work which encourages production of goods and services which is taught in Economics.For Religious persons, the command from a Supreme being, as to hard work and economic independence translates into obedience which promotes economic independence and personal responsibility.To Christian, the bible is authoritative thus a good source for teaching Economics. Moreover, bible teachings teach self-reliance in Proverbs 22:7 and fair treatment of employees which is covered in Economics in Proverbs 22:16(Smith 2017) However, the study of economics from a Christian based approach is only right and beneficial for subscribers of the faith hence making a Christ based teaching approach optional for some learners. For instance, the imposition of a compulsory Christian based teaching approach to economics infringes the religious rights of none Christians and solely benefits the Christian learners as contrasted with the whole economics class population. Most jurisdictions have established the right to religious belief as a personal choice and not a collective and compulsory undertaking (Australian Human rights commission n.d).This means an economics learning environment is likely to have both Christian and non Christians thus the need to apply uniform and neutral teaching method which is acceptable and respectable to religious and non religious belief s. In addition, most economies have adopted the freedom of thought, conscience, and religion or belief rights as advocated for by the international declaration of Human rights in their constitutions thus making the subscription to any religious view optional thus the universal application of bible economics in the study of economics divided. Categorically, Article 18 of the ICCPR stipulates the right to freedom of conscience, thought and conscience which basically excludes the uniform religious application of teaching methods mandatorily which in essence curtails the universality and uniformity of religious-based teaching. According to some Economists like Keynes, biblical teaching advocate for saving habits which is an impediment to economic progress. Most economists agree that investment rather than saving stimulates economic activity thus making some bible teaching not practical active for economic progress which is taught from a development and growth points of views economics point (Ewert,2001).Moreover, most economies have adopted the principles stipulated by John Maynard Keynes who is considered a significant figure in the field of Economics. Specifically, in his works, the general theory, Keynes is against the habit of saving which is important to the Christian view. To Keynes, saving is a future oriented notion, however, given the world we live in now, investment is key in the present. Religious based teaching has their limitations in the sense that due to the different rules of interpretation of the same scripts, there will be no uniformity of thought across all institutions which have adopted the system. Further, mandatory religious based teachings may reduce the number of Economic students, especially those who are not Christians and subscribers of that line of faith.Further, there's the danger of extremism developing among Christian and non-Christian systems.Moreover, the religious based teaching may not be accepted in other jurisdictions thus making it hard for Christian graduates to work and advance studies in non-Christian economies due to the curriculum disparities.By and large, there are substantial arguments for and against the application of biblical teachings in the study of Economics. Despite the fact that Christianity is among the top five religions in the world, not all persons pursue this religion thus hard to implement a uniform and universal teaching scheme. However, through the application of biblical teachings, Christian teachings will spread, strengthening the faith of Christians, boosting fair trade practices, ethics, morality and boosting the economic standards of Christians. Further, financial independence will be achieved. However, for non religious learners, the application of bible teachings is considered an infringement of their rights to the freedom of religion or belief, if the case that it is made mandatory in learning institutions. References Australian High Commission.(n .d).Freedom of Thought, Conscience and Religion Or Belief.Human Rights.Org. Available at https://www.humanrights.gov.au/freedom-thought-conscience-and-religion-or-belief[Accessed 10 Sep 2017] Beed, C and Beed C,.(2005).Applying Judeo-Christian Principles to Contemporary Economics issues. Markets and Morality. Org. Available at https://www.marketsandmorality.com/index.php/mandm/article/viewFile/366/356[Accessed 10 Sep 2017] Elwart, S.(2011).Biblical Principles of Economics. Khouse. Org. Available at https://www.khouse.org/articles/2011/1015/[Accessed 10 Sep 2017] Ewert, K.(2001).In the Long Run, we are (Not) all Dead.TKC.Com.Available at https://www.tkc.com/resources/resources-pages/keynes.html[Accessed 10 Sep 2017] Leone, M. (2015).The Bible is Good Business Guide. Us News. Available at https://www.usnews.com/opinion/blogs/faith-matters/2015/02/20/the-bible-is-a-good-guide-to-best-business-practices[Accessed 10 Sep 2017] Let God Be True.(2017).Bible Economics. Let God Be True. Com. Available at https://www.letgodbetrue.com/sermons/practical/bible-economics/sermon.php[Accessed 2 Sep 2017] Smith, S.(2017).Economics. Open Bible. Info .Available at https://www.openbible.info/topics/economics.[Accessed 10 Sep 2017] Worldview.(2017).Christian Economics-Introduction. Worldview .Available at https://www.allaboutworldview.org/christian-economics.htm[Accessed 10 Sep 2-017]