Is economics necessary in our daily life or not
 

the most important question about economics is that eco is used in our daily life or not...whats are the role of economics in practical life...if economics control all the situations in the market and economy then why there are inflation,unemployment and depression ...why the economists of the world didnt take any action about the whole world economy...are they afraiding that the cant control the world situation or there is not any solution of the above mentioned aspects in eco..

Economists have solutions but the assent of politicians is needed. If you have appeared in CSS 2013 Exam, or even have seen essay papers, you must be familiar with an essay topic. " It politics not Economics which rules the world ".
It is much relevent to the question you asked if we twist this statement as, " Politicians not Economists rule the the world ".
They do play an important role in day to day life of common people. Depression, unemployment, inflation or even stagfation , are the common issues and are dealt by Macro Economists.

Well I am Msc Economics and Politics and can try to discuss Politics and Economics dichotomy. Economists formulates policies and suggest measures to control above said issues. Such measures are quite tough to implement in this democratic world. I mean to say that politicians have to care of peoples aspirations and they can,t afford unpopular decisons and strategies to curb such peroblems. Let take case of Pakistan, IME,S , world bank, IMF and many other institutions have been suggesting govenment to dare and take some difficult steps, like increasing energy prices, decreeasing subsidies and expanding tax net......same is considered appropriate by Local Economits. But government is always shy to implement these strategies. The need of the hour is not normative economists, subjective and value based, but of positive economists, objective and fact based :).

@ salman ajab
Let me reply step wise.
Yes economics is practical it is used in our daily life. Modern life is nothing without market, prices, demand supply, import, export, and especially consumer behaviour theories which help the consumer to control his daily spendings.
2nd is
Economic trends depend and effect trends globally. For example a subsidy on milk will reduce cost of domestic milk in america,as a result pakistani milk exports to america would be disturbed. Which ultimately causes lot of problems in pakistan due to less exports. Same is the case with economic policies economists have all the solutions. but all the countries with different economic policies formulate a global economyso pllicies of one country affect other. So if pakistan tends to control its inflation she has to revise ploicies of its major trading partners especially.
The other reason is economists have different school of thoughts i.e classical , keynesians , neo-classicals , etc all these have different policy tools to get the same objectives. So this is also the reason why some people think economists dont have a determined roadmap to solutions.

[B][COLOR="Blue"]well Economics has a branch of study that is called Applied Economics in which we study the real time application of the concepts of Economics.....

We can play our role in decreasing the inflation by curbing our planned spending, which are that we have planned to make on Luxury products such as cars and Jewellery etc as the demand for commodities is inelastic because we can't decrease the demand for sugar, flour and like things...

There are many Political factors as well that are the hurdle in overcoming these problems the biggest of which is the lack of willingness on the part of politicians...This is studied in Political Economy.

Then there are some natural elements as well that rule the market mechanism, if floods destroy the crops then there will be shortage of supply with respect to demand, which cause the prices to go up and cause the inflation. Hope you got a fair idea...
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Everyday Economics
 

What is use of Economics in our daily life?
Actually,the answer of above question and everything of the answer is in the simple definition of Economics.
Economics is about how to manage our scarce/limited resouces to satisfy our unlimited needs and wants.
Take limited resouces as your income and unlimited wants as your daily requirements and now it's really a big problem of our daily life to satisfy our needs by our income. And it is Economics that gives us solution to that problem.

Now to solve that problem we have to make choices.
Economics is the study of choices.:)
To understand PROBLEM-difference between existing condition(Positive economics) and desired condition(Normative Economics).
Economics teaches us how to make choices.To purchase a car or to send ur son abroad for study.If you send your son abroad then you will not be able to enjoy long drive(opportunity cost).
To go for haleem chawal plate or KFC Zinger.Go for option that has the most ability to satisfy your need(Utility maximization).Haleem chawal plate costs Rs.20,while Zinger costs Rs.400. Both will remove your hunger(Cost and benefit analysis)and the choices galore.......

You maintain your bank account,it might gives you interest- Economics teaches you the science of interest.
You pay your tax.Economics teaches you calculation of tax on your income,its effect as a whole.
You might want to make investment.Econmics teaches you how to invest,where to invest,risk analysis,its expected returns and value of returns considering factors like inflation,growth, and your investment contribution in GDP its counting and as a result your role in economy.

Economics teaches you to be a responsible citizen and how to safeguard public property and common goods.

In nut shell,from Rs.100 prize bond to blue chip investment ; from haleem chawal plate to seven star dinner,from weekend to honeymoon;from riding bicycle to supersonic flight,from your bank account to SBP policy,from your shop to GDP;from your tax to budget of country;from your house loan to IMF loan you will find Economics involved.

Stay blessed

"Economics is the science of choice. It began with Aristotle but got mixed up with ethics in the Middle Ages. Adam Smith separated it from ethics, and Walrus mathematized it. Alfred Marshall tried to narrow it, and Keynes made is fashionable. Robbins widened it, and Samuelson dynamized it, but modern science made it statistical and tried to confine it again.

But the science won't stay put. It keeps cropping up all over the place. There is an economics of money and trade, of production and consumption, of distribution and development. There is also an economics of welfare, manners, language, industry, music, and art. There is an economics of war and an economics of power. There is even an economics of love.

Economics seems to apply to every nook and cranny of human experience. It is an aspect of all conscious action. Whenever decisions are made, the law of economy is called into play. Whenever alternatives exist, life takes on an economic aspect. It has always been so. But how can it be?

It can be because economics is more than just the most developed of the sciences of control. It is a way of looking at things, an ordering principle, a complete part of everything. It is a system of thought, a life game, an element of pure knowledge.

[QUOTE=Salman Ajab;581258]the most important question about economics is that eco is used in our daily life or not...whats are the role of economics in practical life...if economics control all the situations in the market and economy then why there are inflation,unemployment and depression ...why the economists of the world didnt take any action about the whole world economy...are they afraiding that the cant control the world situation or there is not any solution of the above mentioned aspects in eco..[/QUOTE]

well, this is a strange question... see if I am posting here on social media, it is economics. buying a chocolate involves economics in it..
well, again it would be another issue to discuss why economic theories are failed to accelerate the economy??

One thing should be kept in mind; Economics is not the subject of Money or Wealth.
This is the subject which makes "you sensitive" to the problems of the economy