Economics is a social science that develops models for organizing facts, enhances critical and creative thinking, and prepares students to be interested, alert, and competent observers of current events. A degree in economics empowers a student to make well-reasoned decisions about personal matters, business problems, and public policy.
The discipline is divided into two branches: Macro-economics and Micro-economics. Macro deals with the economy as a whole, including such topics as inflation, unemployment, economic growth, productivity, debt and deficits, and balance of payments with other nations.
Micro deals with the allocation of scarce resources to meet the goals of people and businesses, buyers and sellers in product, labor, and credit markets. Special topics include urban economics and headline issues such as poverty, crime, health, education, the environment, and energy.