Economics is the study of how different economic systems determine what goods and services will be produced, the prices and quantities of those goods and services, and who will receive them. Knowledge of economics is essential to understanding problems ranging from the consumer's decision to purchase one brand of car over another, to businesses' decisions as to which goods and services to produce and how to price them. Economics also helps us to understand the causes of inflation and unemployment, as well as the effects of government budget deficits or international trade deficits. Lawyers, bankers, managers of large and small businesses, government planners and journalists find economics a useful tool in understanding and solving problems. Students choosing economics as their major pursue a core program designed to provide a thorough grounding in economic theory followed by more specialized study in such areas as money and banking, labor and industrial relations, international economics, public finance, industrial organization, and antitrust policy.
Students develop their programs in cooperation with an economics faculty adviser.
Candidates for either of these degrees must complete 30 semester hours in economics and a minor in business, mathematics, any other social science, or another field approved by the student's economics adviser. Those students planning to enter Ph.D. programs in economics are strongly encouraged to take their minor in mathematics. Students who plan to seek employment upon completion of their bachelor's degree or who plan to pursue graduate work in some other field are advised to elect a minor in a field related to their chosen career. Students interested in additional information may consult the Economics Department, Alumni Hall, Room 3129. Students may also meet with a faculty adviser in the Department of Economics.