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."
Students will engage in the economic way of thinking from the perspectives of individual firms, consumers, and government policy makers. A significant portion of your undergraduate economics training will address policy options available to government officials seeking solutions to contemporary economics problems including environmental degradation, market distortions and issues around globalization. Economics majors possess an enhanced ability to analyze and evaluate current economic and social issues using their understanding of economic principles and methodologies developed in the major.