The practical importance of economic theory can be demonstrated by reading any major news outlet or newspaper. On just about every page, economic principles are manifest — articles about consumer behavior, national health care costs, employment and international trade, crime and punishment and high finance.
The goal of the economics department is to develop in students a keen understanding of the economic way of thinking and to give students insight into how this applies to social issues (including poverty, unemployment, and environmental concerns) and business decisions (such as pricing, financial decisions, and investment).
Students who have a Bachelor of Arts in Economics, a Bachelor of Business Administration with a concentration in economics, or have minor concentration in economics have found their credentials qualify them for a wide variety of careers. Since economics provides a useful analytic foundation for most kinds of business problems, many economics graduates are recruited for management positions in the private sector. Others put their skills to work in government service—either in administration or policy analysis. Many students find studying economics an excellent preparation for law school, business school, or graduate study in economics and other social sciences.