How Economics is related to HR Planning? Whether an HR manager should know the basics of Economics to manage and plan the HR Policies perfectly?

hr planning is a process that identifies current and future hr needsfor an organization to achieve goals.

To generate organizational capability and economics grows by ensuring that the organization has the skilled, engaged, committed and well-motivated employees it needs to achieve sustained competitive advantage through HR and Org. strategy. The most successful companies had ‘the big idea’. They had a clear vision and a set of integrated values. HR managers were concerned with sustaining performance and flexibility. Clear evidence existed between positive attitudes towards HR policies and practices, levels of satisfaction, motivation, and commitment, and operational performance. Policy and practice implementation (not the number of HR practices adopted) is the vital ingredient in linking people management to business performance and this is primarily the task of line managers.

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Economics plays a keep role in policy planning, remunaration and productivity projection. 

100 % HR Planning is the must in economics 

It is vital requirements for an HR.

It can be done by marketing and increasing Business

For sure.. economics is a base for planning... Hr Manager plays a vital role in framing Human Resources policies, he should have the market knowledge and future pursuit while framing HR Policies. 

World international and local economics is also important to manage planning idealists perfectly when it goes that one company should let go of long time employees to not based in the HR itself inner instinct that maintaining the same long time of reasoning positively the employees to not hire a new perspective employee on the application interests. HR should focus in millenial Economics which predicting that high demands of income is also achieving to get from in coming new best applicants on its way of interests is focused in the job for doing the interests of each company. Stagnant is when HR maintain their instinct based otherwise based in the world's Economic changes!

In any organization and in most jobs planning a step to manage the task facilitates the tasks in the future and clarify the objectives better Planning for the management of the economy and human resources is to develop a plan to help the management of staff in their jobs with regard to time