What Will Learn?
Most, if not all, of the world’s most important social complications have an economic aspect. Microeconomics provides the tools to evaluate the trade-offs that individuals, firms, and governments experience because of limited resources. It considers the choices that are made, the social context in which they take place and the implications for human welfare.
Economists apply these tools to study a wide range of controversial public policy questions including the structure of the legal system, government restrictions on domestic and international markets, environmental regulations and design of tax policies.
Macroeconomics explores the sources of economic growth and the causes of recessions and inflation. Macroeconomic analysis assesses monetary policy, explains the performance of financial markets and considers international trade and financial links.
The study of economics is an excellent way to acquire problem-solving skills and develop a logical, ordered way of looking at problems. It leads naturally to careers in business, law, economic research and consulting.
Economics is a standard pre-business major because it provides insight into the operation of individual markets for goods and services, financial markets, and the global economic system, and because it provides quantitative and analytical skills that enable students to succeed in a wide variety of business activities. Many law schools view economics as one of the best undergraduate majors because of its disciplined approach to the analysis of social issues.