In our textbook and through documentaries, we learned about specialization. Specialization occurs when a nation or individual concentrates all their efforts on producing a limited set of goods. It leads to greater economic prosperity and efficiency. If America was great at producing corn and India was great at producing textiles, the two countries should focus all their time on doing what they’re best at (producing corn/textiles) and trade.
Human specialization benefits from the differences in each person’s abilities. For example, some of us may be particularly great at math while others are brilliant with language. Cooperation between the two groups is logical and efficient. One does the math, the other does the English - bam, you have a dream team. On the other hand, some of us are just average at both math and language, which is generally less efficient because we don’t have any special talents to offer to others.
Specialization saves a lot of time and helps workers develop advanced skills. Just think about it, if you were to spend all your time doing calculus, you would probably devise improved techniques and become the best student in the class. Also, you wouldn’t have to shift from calculus to english anymore since you’re ‘specializing’, which ends up saving you time.
We can apply this term to colleges too! Now, often times, colleges say that they are looking for well rounded students, but what they are actually looking for is well rounded students with a “spike” in a certain subject. Well rounded, having As in all classes, just won’t cut it for colleges anymore. Colleges want students who have their classes, extracurriculars, and interests all pointed in a clear direction. Students who set themselves apart by showcasing a clear mindset on what they want to specialize in cut through the noise of thousands of other applicants. Here, specializing is more efficient and more attractive. Colleges are businesses; they are looking for students who can fit into their jigsaw puzzle, for students who can help their peers. They are looking to create that “dream team.”
As the textbook sums it up, “specialization increases the total output society derives from limited resources.” So, with such limited time, go focus on something you enjoy and are good at because it is ultimately most efficient.
Specialization may lead to greater economic prosperity and efficiency, but governments sometimes restrict the free flow of imports and encourage exports. For example, governments impose protective tariffs to protect domestic producers from foreign competition, impose import quotas to decrease international commerce, impose nontariff barriers to impede imports, and impose export subsidies to allow producers to sell more exports in world markets. This may occur because some governments may falsely believe the benefit of international trade is not the increase in output due to specialization, but is the greater domestic employment in the export sector.
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