Why do you think economics knowledge is required for other disciplines just as engineering, political science and business administration? What is the connection between economics and these domains?

Economics is a highly applied subject and is incorporated everywhere because all activities have a monetary side. Demand and supply are essential frameworks of all subjects ranging from engineering to politics etc. All these fields face the challenge of efficient resource allocation which is the basis of economics. Hence the study of economics helps in making more informed decisions regarding cost-benefit analysis and also in maximisation ofc profit for businesses. Since all these activities are carried out by money which is the universal medium of exchange, all the analysis have to be carried out through a process involving economic optimisation directly or indirectly.

Therefore one can find positions of Chief economic adviser and similar posts not only in financial institutions like IMF but also in assisting the president of the country, and even in large techno-giants like Google. Economists help to make better decisions for these entities by applying theory to real life scenarios.