Why do colleges make students take economics how does it help them in life?

I don't know that most American colleges do require economics, but if yours does, I guess it makes no difference to you if others don't.

How does it help you in real life?  Well, for one thing it helps you with logical thinking and analytical skills.  These skills are important, in my opinion, in any profession one enters (if you want to enter any career that requires thought, at least).  In addition, a basic knowledge of economics allows you to understand more about the world around you, which is always good.

So... there's no way in which taking economics is essential to life, but it can help you A) gain useful skills and B) enrich your life by increasing your understanding of the world.