Economics is the study of how scarce resources are allocated among competing uses to satisfy human wants. Economic analysis is directed at a wide range of problems, including inflation and recession, environmental problems, taxation decisions, regulatory and antitrust problems, forecasting, and managerial decision making.

Students master the fundamental activities used in economics: collection, analysis, interpretation of economic data, and presentation of conclusions. Economics majors are required to become familiar with sources of information about business and the economy, and to analyze data using theoretical models, spreadsheet programs, and statistical techniques.

A degree in economics prepares students for careers in public policy, consulting, and a wide variety of business organizations, as well as for business school, law school, and other graduate studies. Specific employment opportunities include careers where the ability to manage and interpret data is valued.