BS in Economics and Business Administration

Economics is the study of how societies produce and exchange goods and services to satisfy material needs. Undergraduates may study economics as part of a broad interest in the social sciences to develop specialized skills useful in today’s complex labor market. The major in economics is also a good foundation for graduate studies in advanced economics, public policy, law, or business. Macroeconomics, which focuses on the overall economy, deals with such problems as inflation, unemployment, growth and instability, economic development, and governmental monetary and fiscal policies. Microeconomics examines the economic behavior of individuals, households, firms, industries, and trade among countries. It seeks to assess the economic effects of market power and environmental damage and analyzes the economic aspects of natural resources, poverty, health, income distribution, trade unions, crime, and government regulation. Courses in economics cover international trade; the behavior of families, firms, and industries in the market economy; the environmental costs of growth; and the economic aspects of natural resources, poverty, health, labor market discrimination, trade unions, crime, and governmental oversight. International and comparative perspectives are emphasized, most directly in courses in the economic development of the developing world and economic history. Graduates may find jobs in major corporations; financial institutions; nonprofits; NGOs; or federal, state, and local governments. Their work may involve planning and forecasting, assessing labor needs, and undertaking financial studies. They may estimate consumer demand for new products, conduct research, teach, or provide specialized consulting services.