Economics Major Profile: Gina Grier, Class of 2013
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.
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.
* 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 economics of international trade, health care, the environment, national security, and crime, ...if you want to learn more about product markets, stock markets, financial markets, and labor markets, ...if you are serious about accepting the challenge to help solve the world's problems of inequality, malnutrition, illiteracy, and climate change, ...then we encourage you to consider the major that moves the WORLD!
"Majors that pay you back"
According to payscale.com's 2014 salary report, Economics is #15.
Economics Department - McComsey Hall
P.O. Box 1002
Millersville, PA 17551