Economics is a social science which analyzes the production, distribution, and consumption of goods and services.
While each of us has almost an 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 be used to answer an array of questions:
- Why are diamonds priced so high when water, the essence of life, is priced so low?
- Why can you walk into a store anywhere in the world and use decorated pieces of paper to purchase any good or service?
- How do interest rate and the money supply relate to the stock market?
- Why do prices always seem to go up rather than down?
Our Economic degree options will allow you to tailor your area of study to your particular needs and interests. If you enjoy a quantitative approach to decision-making, consider our Bachelor of Science in Economics. If you are more interested in how economic choices affect society and social behavior, then consider the Bachelor of Arts in Economics. A degree in Economics allows you to infuse your education in your personal and professional life.
William C. Lee, Ph.D.
Professor and Chair, Department of Economics
School of Economics and Business Administration
Saint Mary’s College of California