People respond to incentives. Economics introduces students to
the academic study of such incentives and the economic way of thinking
about the market economy from the perspectives of various market
participants including firms, consumers, and government
policymakers. Understanding the fundamentals of supply-demand
interaction and their implications for price and output determination
in a variety of market settings is crucial to achieving full
participation in modern society. A significant portion of your
undergraduate economics training will address policy options available
to government officials seeking solutions to contemporary economic
problems including environmental degradation, imperfect competition,
and resource market distortions. 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.
"By virtue of exchange, one person's property is beneficial to all others." Frederic Bastiat
