message from the chair
Dear students,
While each of us has an almost infinite list of things we need or want, we have only limited resources, notably time and money. How we allocate our scarce resources is the fundamental "economic problem" that continually confronts us all. Economics is the study of how such choices are made and has therefore been called the "Science of Choice." Economics can also be called the study of human beings in the everyday course of their lives. The answers to many widely asked questions can be found in an understanding of economics: Why are diamonds priced so high when water, the essence of life, is priced so low? Why are a few people paid millions while others are homeless and seemingly rejected by society? Why can you walk into a store anywhere in the world and, with appropriately colored and decorated pieces of paper, purchase almost any imaginable good or service? How do interest rates and the money supply relate to the stock market? Why do prices always seem to go up rather than down?
As an intellectual discipline, economics may have strong appeal to students who like knowing what makes complex systems work, puzzling over sometimes conflicting theories, and who are comfortable with uncertainty. Saint Mary's offers a choice of 2 academically rewarding majors in economics. Both share core principles and theory courses. If you enjoy a quantitative approach to decision-making, consider the Bachelor of Science program. It provides thorough training in the theories and methods of economics and their applications. Mathematical and statistical methods, as they are applied in economics, are fully integrated into the curriculum.
If you are more interested in the social science perspective on how economic choices affect society and social behavior then consider the Bachelor of Arts program. A Bachelor of Arts is ideal for students with a general interest in the social sciences and emphasizes the close relationship between economics and other social science fields. Built-in flexibility allows you to tailor study to particular needs and interests. I would be delighted to answer any questions you might have about the offerings of the Department of Economics.
Best wishes,
William C. Lee, Ph.D.
Professor and Chair, Department of Economics
School of Economics and Business Administration
Saint Mary's College of California
Phone: (925) 631-4589
E-mail: wlee@stmarys-ca.edu
