Introduction:
Studying international organizations like the World Trade Organization (WTO) and the International Monetary Fund (IMF) is indeed necessary for the Economics Optional subject. These organizations play a crucial role in shaping the global economic order and have a significant impact on national economies. Understanding their functions, policies, and implications is essential for any serious student of economics.

Importance of studying WTO:
1. Multilateral Trade Agreements: The WTO is responsible for negotiating and implementing multilateral trade agreements among its member countries. These agreements have a direct impact on international trade, tariffs, and non-tariff barriers. Understanding the principles of the WTO and the rules governing international trade is crucial for analyzing trade policies and their effects on domestic economies.

2. Dispute Settlement Mechanism: The WTO provides a platform for resolving trade disputes between member countries. Studying the WTO helps in understanding the legal and institutional framework for settling disputes and the implications of these decisions on trade flows and market access.

3. Trade Liberalization: The WTO promotes trade liberalization by reducing trade barriers and fostering fair competition. A thorough understanding of the WTO's objectives and policies is necessary to analyze the impact of trade liberalization on economic growth, employment, and income distribution.

Importance of studying IMF:
1. Macroeconomic Policy: The IMF provides policy advice and financial assistance to member countries facing balance of payments problems. Studying the IMF helps in understanding the macroeconomic policy recommendations made by the organization and their implications for fiscal and monetary policy.

2. Exchange Rates and Financial Stability: The IMF plays a crucial role in promoting exchange rate stability and financial stability globally. Understanding the IMF's role in managing currency crises, capital flows, and financial sector reforms is essential for analyzing exchange rate regimes, financial markets, and their impact on domestic economies.

3. Economic Surveillance: The IMF conducts economic surveillance and provides analysis on global economic trends and risks. Studying the IMF equips students with the knowledge to interpret and analyze these reports, which are highly valuable for understanding the global economic environment.

Conclusion:
Studying international organizations like the WTO and IMF is indispensable for Economics Optional. These organizations shape the global economic order, influence trade policies, provide financial assistance, and promote economic stability. Understanding their functions, policies, and implications is crucial for analyzing economic phenomena at both the national and international levels.