What Economics Is*

Economics is a social science that is at once very broad in its subject matter and unified in its approach to understanding the social world. An economic analysis begins from the premise that individuals have goals and that they pursue those goals as best they can. Economics studies the behavior of social systems - such as markets, corporations, legislatures, and families - as the outcome of interactions through institutions between goal-directed individuals. Ultimately, economists make policy recommendations that they believe will make people better off.

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What Economics is NOT*

Economics is not business. Business classes teach professional skills that are useful for starting and operating companies. Business strategy and financial management classes often rely on insights from economics in providing better advice to businesses; much the way clinical psychologists apply the relevant research from academic psychology to help them treat their patients. Economics and business are related, but business is professional training ultimately aimed at making profits, while economics is a science that, in addition to understanding how firms profit maximize, also pursues an improved understanding of our social world.

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* The following is an excerpt from the undergraduate guide to the economics program at Harvard University.  It is a well written overview of the discipline and is an appropriate overview for the economics program at Millersville University.

If you want to learn more about the economic aspects of international trade, health care, national security, and crime, ...if you want to learn more about product markets, stock markets, money markets, and labor markets, ...if you are serious about accepting the challenge to help solve the world's problems of poverty, malnutrition, illiteracy, and climate change, ...then we encourage you to consider the major that moves the WORLD!

When:  Thu, February 7, 2013 @ 07:30 PM

Location:  Lehr Room, Bolger Conference Center, Gordinier Hall

Description: On February 7, Ann Markusen, the director of the arts economy initiative and the project on regional and industrial economics at the University of Minnesota's Humphrey School of Public Affairs, will present the Robert A. Christie Lecture in Economics. This event will be held at 7:30 p.m. in Lehr Room, Bolger Conference Center, Gordinier Hall.

About the Speaker: Markusen's arts studies include California's Arts and Cultural Ecology (The James Irvine Foundation, 2011), Creative Placemaking (National Endowment for the Arts, 2010), Native Artists: Careers, Resources, Space, Gifts (McKnight Foundation, 2009), Crossover: How Artists Build Careers across Commercial, Non-profit and Community Work (Hewlett, Irvine, and Leveraging Investments in Creativity, 2006), Artists' Centers (The McKnight Foundation, 2006) and The Artistic Dividend (Humphrey Institute of Public Affairs, 2003).

Ticket Information: This event is free and open to the public.

When:  Fri, February 8, 2013 @ 10:00 AM

Location: Biemesderfer Concert Hall, Winter Visual and Performing Arts Center

Contact: Diane Umble , 717-872-3553

Ticket Info: This event is free and open to the public; however, tickets are required.

Economics majors score higher on the business school entrance exam (GMAT):

*GMAT scores from 2008-2009.  Source: The Profile of Graduate Management Admission Test,  Graduate Management Admission Council, 2009

Economics majors score higher on the law school entrance exam (LSAT):

* Source:  Michael Nieswiadomy, "LSAT Scores of Economics Majors: The 2007-08 Class Update," Journal of Economic Education, June 2009.

Postal Address:

Economics Department - McComsey Hall
Millersville University
P.O. Box 1002
Millersville, PA 17551

Telephone: 717-872-3679
Fax: 717-871-2326
Email: beth.colvin@millersville.edu