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Economics is a social science focused on specific aspects of human behavior that significantly impacts societal structure, welfare, and progress.
Human endeavors often revolve around fulfilling material needs. Across much of the globe, people must dedicate substantial effort to securing fundamental necessities like food, clothing, and housing. Even in technologically advanced nations where meeting these basics is relatively straightforward, the pursuit of additional goods and services seems endless. As a result, all societies—whether capitalist, socialist, or communist—exhibit both competitive and cooperative dynamics. Competition arises as individuals vie for limited resources to fulfill personal desires, while cooperation emerges because organized production yields the greatest abundance of goods. Economics examines the tensions between unlimited wants and the finite resources available to meet them.
Undergraduate Economics programs aim to introduce students to economic reasoning and prepare them to critically assess modern economic challenges. These programs also help students understand the essence of economic science and emerging theoretical trends. Contemporary economic research increasingly incorporates mathematical methods, so Economics majors should complete at least one foundational math course. Additional math courses may be beneficial, as many Economics subjects involve mathematical analysis.
Given advancements in economic theory, an undergraduate degree alone doesn't qualify someone as a professional economist. Graduate studies may therefore be necessary. Students considering advanced work should consult the department for guidance on course selection.