Question

Is economics important for STEM occupations?

Answer 1

For sustained economic growth, a strong presence in science, technology, engineering, and math (STEM) fields is required. Those-focused sectors and occupations produce many of the advances that increase efficiency across the workforce. They're central to the complex of modern business.
Computer and math professionals, engineers, electronics technicians, life scientists, physical scientists, social scientists, research technicians, and STEM managers are among the categories of professionals known as STEMs. STEM-related professions also exist: engineers, medical professionals, health care administrators, and health care technicians.

.At the other hand, there are those who argue that the fact that such a high percentage of STEM graduates work in non-STEM fields is evidence that there are plenty of people with STEM training / education. We also point to fairly stable trends of earnings to demonstrate that incomes are not being bidd. Although these points are quite real, a steady supply of new STEM graduates is important as they are necessary for increasing industries and improving productivity throughout the economy

Drives productivity gains: since 1980, gross productivity has risen much faster in the R&D and STEM-heavy industries than in the rest of the economy. Supporting industries that drive productivity growth during a period of slowed overall growth is significant.
Generates high-earning potential: STEM employees earn an average of $14,000 more a year at almost every level of education than non-STEM employees do.
Creates new jobs: By 2026, STEM's population is expected to expand by at least 2.5 million employees.