What is Economics?
In this program, you will learn about the production,
distribution, and consumption of goods and services. You will study the
concept of supply and demand and its effect on the marketplace;
employment trends and their effect on government and its policies; and
the use of natural, financial, and technological resources and its
effect on the population. Economics students study about inflation,
recession, monetary policies, unemployment, international business, and
a wide variety of economic principles which influence world commerce.
Economics is broadly defined as the study of the allocation
of scarce resources among alternative uses. It studies the behavior of
individual economic decision-makers (namely consumers, firms, workers
and government policy-makers) and how they respond to changing
incentives. It also examines nations’ overall economic condition —
their output, price level, level of employment and economic growth —
and the interactions, exchanges and relationships of nations in the
world economy. Economics evaluates the efficiency and equity of economic
outcomes and studies the role of government in the economy and
people’s lives. The economics curriculum is designed to familiarize the
student with economic theory, to provide knowledge about economic
institutions, to foster the development of skills in applying economic
analysis to contemporary issues, and to create a foundation for intelligent citizenship.
Economics majors find many opportunities for careers in
business, law, teaching and government. Upon graduation, students who
have majored in economics generally pursue one of two paths: some enter
directly into employment, while others enter graduate programs in
economics, law, business or public administration.
Working in Economics
Characteristics and Skills Necessary for Success
- Logical reasoning
- Ability to solve puzzles
- Interest in conducting research
- Above average ability in oral and written communication
- Ability to collect and organize data
- Leadership ability
Click HERE for a table on Career Areas, Employers, and Strategies for Employment
Sample Job Titles
Learning More About Economics
- Visit the Career Services office and check out our Career Resource Library.
- Visit the SLU Economics Department website and check out the course catalog.
- Talk with a professor in Economics about the major. Click here for a list of possible questions to ask.
- Perform an informational interview with a professional in the field. Click here for information on how to find a professional, contacting them, and a list of possible questions.
- Get connected with SLU alum in the field through SAINTSLink, participate in Shadow-a-Saint or complete an Internship.
Related Majors and Minors at SLU