We use economics on our everyday life. It affects almost everything. A good example of this is our daily spending or how much we will pay for a particular goods or services depending on its demand. Economics also gives us idea about how our economy runs, inflation rates, job opportunities, etc.
Yes, and to understand those better, it's necessary to study Economics for it'll teach us the proper attitude towards the use of resources. With that, we will be able to realize that all of us has moral obligation in the proper use of resources, for waste in the use of such means a great sacrifice to any country and it's people.