Economics is the study of how people establish social arrangements for producing and distributing goods and services to sustain and enhance human life. Its main objective is to determine an efficient use of limited economic resources so that people receive the maximum benefit at the lowest cost.
"By virtue of exchange, one person's property is beneficial to all others."
How do societies decide what to produce? How do they decide who receives what is produced? Economics answers these questions. The main objective in economics is to find an efficient use of limited resources in order to create the maximum benefit at the lowest cost.
To do this, students will consider the varied objectives and actions of firms, consumers, and government policy makers. We develop and use tools to consider issues such as environmental degradation, market distortions, and globalization. Through the economics major, students develop the ability to analyze current policy issues by building a deep understanding of core economic principles and methodologies. This process starts on the first day of ECON 101, and carries through the entire curriculum to the economics capstone. By the end, our graduates have the ability to “think like an economist” and analyze many of society’s most pressing questions.