30 Oct 2022

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Chemistry and the Economy

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Academic level: University

Paper type: Assignment

Words: 285

Pages: 1

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Chemistry is the science of matter, its properties, and how substances interact. Research has shown that every substance is made of matter. Chemistry is, therefore, a wide and very significant discipline in every aspect of life. This topic explores the role played by chemistry in various fields and its general contribution to the global economy. Chemistry has been and remains a huge contributor to wealth, health, and prosperity. Chemistry has contributed to global civilization than any other discipline. Early people devised methods to extract and process simple metals such as iron. These metals enabled the creation of tools and weapons, which brought economic superiority. The famous industrial revolution was accelerated by chemistry-related innovations and an understanding of thermodynamics. Countries that mastered this field became global heavyweights. People seem to undermine the role of chemistry in the economy. There is, therefore, a need to study this topic to show how vital chemistry is not only to the economy but to human existence. According to Cefic Organization (2019), chemistry contributes more than $5.7 trillion to the GDP and has created over 120 million jobs. This is impressive for such an undermined discipline, such as chemistry. Chemistry has a huge contribution to the economy. I want to explore the role of chemistry in the economy in generating revenue and creating employment. I would also like to learn different fields that are dependent on chemistry and other that are not dependent on chemistry. By understanding the role played by chemistry in the economy and various fields, I will understand the future of chemistry as a discipline in the world and how it will continue contributing to the economy. 

Chemistry is a major discipline in the world. Therefore, there are many sources of chemistry information such as online libraries for example the Wiley Online library, websites such as American chemistry association, journals like Aston journals, articles from companies like New York Times, among others. 

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References  

Cefic Organization . (2019, March 11). Retrieved from Cefic Organization Website: https://cefic.org/media-corner/newsroom/chemical-industry-contributes-5-7-trillion-to-global-gdp-and-supports-120-million-jobs-new-report-shows/ 

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StudyBounty. (2023, September 16). Chemistry and the Economy.
https://studybounty.com/chemistry-and-the-economy-assignment

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