College of Arts and Sciences
Bentley Annex 360
William Shambora, Chair
Economics is a fascinating study of human behavior. It helps one understand the complex activities through which goods and services are produced and distributed. Such an understanding requires a gathering of pertinent facts, the identification of variables and their significance, the development of theory, and the testing of hypotheses and conclusions. Economics is a social science, because it involves understanding the economic aspects of people’s organized or group behavior. In order to achieve this understanding, economists study such factors as production and costs, prices, wages, interest rates, money, spending, taxes, and so forth, in an effort to determine how goods are produced, exchanged, and consumed.
Economists also study such subjects as the relative prices of products, efficiency in individual firms and industries, government taxation and spending, international trade and finance, the economic development of poor nations, comparative economic systems (such as capitalism, socialism, and communism), causes of poverty, the economic history of various countries, labor and collective bargaining, agricultural economics, money and banking, economic growth, government regulation of industry, and the forces that determine the level of national income and employment.
For further information about careers in economics or about any of the Department of Economics majors, scholarships, programs, courses, faculty, or research, please contact the department (see contact information above).
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