Department of Economics

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A social science that studies the production, distribution, and consumption of goods and services, economics helps us analyze effects of public policies designed to improve efficiency and/or equity.

  1. Albers School of Business & Economics
  2. Departments
  3. Department of Economics

What is Economics and Why Study Economics?

Economics is a social science that studies the production, distribution, and consumption of goods and services.

Economics raises issues of efficiency and equity in the presence of scarce resources.

  • Microeconomics examines how firms and individuals make decisions about the production and consumption of goods and services.
  • Macroeconomics examines the overall economy including gross domestic product, unemployment, and inflation.

Economics provides tools to analyze the effects of public policies designed to improve efficiency and/or equity. For example, the study of economics will help you understand the implications of policies that aim to reduce inflation, protect natural resources and the environment, or alleviate poverty.

Economics provides tools to analyze the effects of public policies designed to improve efficiency and/or equity. For example, the study of economics will help you understand the implications of policies that aim to reduce inflation, protect natural resources and the environment, or alleviate poverty.

Economics or Business Economics?

Albers offers two undergraduate economics programs - an economics major and a business economics major.

Economics majors graduate with a Bachelor of Arts in Economics (BAE). The BAE is a liberal arts degree designed for students interested in economics as a social science. The economics major is ideal for students interested in economic theory, public policy, and/or social justice.

Business economics majors graduate with a Bachelor of Arts in Business Administration (BABA). The BABA in Economics is a business degree with a concentration in business economics. The business economics major is ideal for students interested in applying economics in a business setting, where a background in other business disciplines is important.

The Department of Economics offers a wide range of electives available to both economics and business economics students. A few examples include:

  • Behavioral Economics
  • Natural Resource and Environmental Economics
  • Economic Inequality
  • Economics of Gender and Family
  • Market Power and Response
  • International Economics

If you are interested in pursuing a second major outside of Albers such as political science or math, we recommend the BAE. If you are interested in pursuing a second major within Albers such as finance, business analytics, or marketing, we recommend the BABA in Economics.

If you are considering graduate studies in economics, we strongly encourage you to continue your study of mathematics through multivariate calculus and beyond.

Economics Contacts

Economics Degrees

Business Economics, BABA

With a command of economic concepts and statistical methods, you will understand how economics relates to business.

Economics, BA

Using economic models and quantitative methods, you'll take an analytical approach to setting policy for a more equitable world.

What Can I Do with A Degree in Economics?

A degree in economics provides students with analytical, critical thinking, and communication skills for a variety of careers in the private, public, and nonprofit sectors. Examples include market research, data analytics, finance, insurance, consulting, and public policy.

Economics is also an excellent background for graduate studies in areas such as law, business, or public administration.

Related Degrees

The Department of Economics also supports the multidisciplinary Business Analytics major, the in-person and online MS in Business Analytics programs, and the Business Analytics Certificate.

Business Analytics, BABA

As a business analytics major, you’ll gain the technical and professional skills to harness the power of data and help businesses thrive—for the good of all.

Certificate in Business Analytics

A Certificate in Business Analytics helps produce professionals who can analyze massive amounts of data in business, governments and other industries.

Master of Science in Business Analytics

In the top-rated master’s in business analytics program, you’ll harness the power of data combined with leadership-level communications skills to make business better.

Professional Associations

The following professional associations for economists provide valuable resources.

American Economic Association

The AEA is a scholarly association for economists. The AEA's website provides a wealth of information for students, academics, and professional economists including a section on career opportunities and graduate school.

National Association for Business Economics (NABE)

NABE is a professional association for business economists. NABE’s website provides resources for professional economists and those considering a career in economics. NABE’s career page includes information on career paths in economics and internship opportunities as well as advice on resumes, interviews, networking, and professional development.

Seattle Economics Council

SEC is the Seattle chapter of the NABE. The SEC hosts virtual and in-person speakers.