It is never too late to study any subjectWhen I was 60 plus, a couple of years ago, I acquired a Master's Degree in Sociology from the IGNOU, through distance education. There were many within my family who chided me for studying at this age. But my passion for the subject took me there.
And I have no regrets. It is one of the finest areas for deep research. It was a great pleasure to read the fabulous work of the world-famous Sociologist, Dr. Ramachandra Guha, who is based in Bangalore. Similarly, if you are passionate about any subject, do not hesitate to take it up.
It not only gives us an opportunity to study something useful but also to reflect on something new to us. After all, there is a scientific angle to anything and there is a major practical application.
In the field of economics, one can always learn the basics and then observe how it plays out. For example, the vital variable called investment. By observing how a budding invests his capital or borrows from the bank, we can easily understand how he keeps his business moving. In comes the concepts of supply and demand. If he owns a grocery shop, for example, he will not stock an item that does not 'move". He would be able to predict the demand for any item. Yes. There is some common sense, but economics is not common sense.