Economics is the study of resource allocation and examines how the economy operates to provide us with the things we want. In a world of scarce resources, choices have to be made and economics studies how those choices are made. Economics is very important and yet in public affairs economic decisions are sometimes made without an understanding of basic economic principles.

As the famous Nobel prize winner Robert M. Solow remarked, "Why does public discussion of economic policy so often show the abysmal ignorance of the participants? Why do I so often want to cry at what public figures, the press, and television commentators say about economic affairs?"

The student who is interested in looking at the long term effects of economic policy on the community and is interested in combining this with some solid analytical and empirical tools, will find the study of economics exciting and intellectually stimulating as well as useful for a rewarding career.

ADMISSION REQUIREMENTS

See Requirements for Admission to Undergraduate Degree Programs in the Admission Requirements and Registration section of this Calendar.

ACADEMIC REGULATIONS

See the University Regulations section and the Faculty of Science and Environmental Studies Regulations section of this Calendar for conditions to enter, proceed in, and graduate from these programs.