Economics is essential to understanding public administration because so much of government policies is based on macro economics.
In biology and ecology there is something called a 'keystone species' which is a species that if it disappeared, the local ecosystem would undergo dramatic changes.
I consider economics to be a 'keystone' academic discipline in that the concepts in economics inform all other disciplines (except I guess for languages.)
For one example. Animals, especially under stress, will minimize the amount of energy they use. This is pretty much the same as the economics concept of 'scarce resources.'
I would say what a person gets out of studying economics is up to them and their teachers.
This is an article by by economics professor Robert Franks
http://www.nytimes.com/2013/05/12/business/students-ponder-the-economics-of-everyday-life.html"For years now, I’ve asked students like Mr. Hlawitschka to pose an interesting question based on something they have observed or experienced, and then employ basic economic principles in an attempt to answer it. Don’t try to submit a finished research study, I tell them. Just look around for something that seems puzzling and try to construct a plausible explanation suitable for future testing.
The assignment is my response to the distressing finding that six months after having completed a standard introductory economics course, students are no better able to answer questions about basic economic principles than others who have never even taken economics. In standard courses, hundreds of concepts — many of them embedded in complex equations and graphs — often seem to go by in a blur. In contrast, grappling with questions that students care about appears to be a far more effective learning strategy. And that’s in no small part because the problems they pinpoint are so intriguing."
I think Professor Franks is generally correct, but over-complicates the reason. I think the reason is solely that economics is taught too much by most teachers as a number crunching exercise and the concepts and principles are regarded as a 'social science sideshow.' When I took economics I noticed that some students could calculate the answers easily but had no idea what any of their calculations meant. (Of course, this wasn't a problem for every student.)