Economics is the social science of production, distribution and consumption of resources. The factors involved in the study of economics include natural resources, capital and labor.
Economic ideas confront us every day, whether we are exchanging our labor for money or our money for goods and services, borrowing or saving, or electing officials to represent us.
We face many complex problems directly related to the economy, including inflation, unemployment, pollution, energy shortages and government deficits. The study of economics helps us to understand the nature and causes of such problems and enables us to develop policies, programs and strategies for dealing with them. A background in economics has cultural, ethical and political value and enables an individual to be a better producer, consumer and citizen.
The economics program at UW-Platteville is designed to bridge the gap between liberal and vocational education. In fulfilling requirements for the economics major, the student will master the analytical core of economics as well as functional areas of business and behavioral sciences and the analytical approach to problem solving.
The study of economics principles constitutes the core of the economics major. Every economist is trained in economic theory, learning to apply its principles and concepts to problems in special fields of interest.
Macro-Economics is the study of overall performance of the economic system, focusing on unemployment, inflation, economic growth and other problems afflicting the economy as a whole.
Micro-Economics is the study of the economic system from the perspective of households and business firms, focusing on the behavior of individual consumption and production units within a particular market or economic system.
Equipped with an understanding of basic principles, the student economist is then prepared to analyze problems and policies in designated fields of economics such as money and finance, managerial economics, labor economics, consumer economics, public policy, international economics and so forth. In addition, new problems and questions are leading to the emergence of new fields of study in environmental economics, human resources and urban economics, among others.
The close relationship of economics with business, industry, technology, political science, sociology, history and other liberal studies is analyzed in courses in these applied areas.
Courses required for the economics major represent a balance of theory and application, and are capped by a seminar in economic policy.
Career options for economics majors encompass a wide variety of opportunities, including careers in:
State and Local Government
Federal and International Agencies
Business Finance and Banking
Health Services Administration