Economics is the study of how individuals and societies choose to use resources that are available to them. Courses in economics examine topics such as inflation, unemployment, international trade, financial markets, inequality, development and government intervention in economic activity. Economic issues have an important impact on individuals, firms, industries, countries and the world as a whole.
By studying economics, you will:
- Develop an understanding of microeconomics, macroeconomics, developments in economic policy and their relevance, and interconnections between economics and other issues.
- Examine issues from many fields and apply economic tools to analyze real-world problems.
- Use technology to locate and process data, drawing conclusions from the analysis.
- Articulate and defend normative analyses.
- Sharpen your writing and speaking skills.
- Prepare for a career or graduate studies in a variety of fields, including business, law, medicine, government, non-profits and international relations.
1 History of Economic Thought
Ideas and theories of major contributors to economic thought, including, Smith, Mill, Marx, and Keynes.
2 Business Cycles & Forecasting
The study of macroeconomic theories that explain business cycles and use of macroeconomic data and economic indicators that can be used to predict cycles. The development of statistical tools for forecasting economic trends and fluctuations.
3 International Economics
Basis for trade between nations. Barriers to trade. Balance of payments. Exchange rate determination. Monetary and fiscal policies in an open economy.
4 Natural Resource Economics
Economic analysis of managing the environment and allocating natural resources. Historical roots and ethical consequences of existing problems and policies are explored.
Dr. Michael Webb, Chair
Department of Economics
301 Hailstones Hall
Phone: 513 745-3484