Why Economics?

Students studying economics learn how individuals, firms, and governments allocate scarce resources. They explore important issues such as inflation, unemployment, income distribution, and economic growth, and develop analytical, quantitative, and critical thinking skills that are essential for evaluating evidence, interpreting trends, and making well-reasoned judgments. Moreover, students gain a deeper understanding of a wide range of major social and global challenges such as poverty, health, and sustainable development. Students studying economics are prepared for a diverse range of career paths in business, law, public policy, and academia, among others.

Our students gain the following marketable proficiencies:

Economic Way of Thinking

Develop a deeper understanding of how economists study the optimal allocation of scarce resources based on fundamental concepts such as opportunity cost and incentives.

Applying Marginal Analysis

Learn how to apply marginal analysis to determine the maximization of specific objectives such as utility or profits.

Analytical & Problem-Solving Skills

Learn to identify key assumptions in arguments and use logical reasoning to evaluate the validity of economic claims.

Critical Thinking

Learn how to develop an understanding of both sides of an issue, be open to evidence that is inconsistent with one’s ideas, and reason dispassionately.

Data Analysis and Interpretation

Achieve a thorough understanding of statistical concepts and regression analysis including the limitations of such methods.

Policy Analysis and Evaluation

Learn how to use cost-benefit analysis to analyze the effectiveness of various types of public policies.

Understanding Macro Phenomena

Gain an appreciation of the dynamics that drive major macroeconomic phenomena, such as inflation, interest rates, and unemployment.