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Economics serves as a social science and a vital part of liberal arts education. It focuses on theories explaining how individuals, businesses, and institutions make decisions and interact within given constraints. Key areas of study include: Price and quantity dynamics across different market structures, ranging from competitive commodity markets to regulated utilities and online auctions. The impact of taxation, government incentives, and regulatory policies. Analysis of macroeconomic indicators like GDP and employment levels. Topics such as inflation, central banking, and financial systems. Patterns of economic development and wealth distribution. Global trade dynamics and currency exchange mechanisms.
International applicant should have completed a program of secondary education that would enable you to enter a university in your own country (e.g., A-levels, Abitur).
A strong command of the English language is necessary for successful study at Penn. Applicants whose families do not speak English at home, or applicants who have not attended a high school or secondary school where the primary language of instruction is English, are asked to take the TOEFL, the Test of English as a Foreign Language, administered by the Educational Testing Service. In the event the TOEFL is not readily accessible, Penn will accept results from the IELTS, the International English Language Testing System.