Poised at the intersection of social science and business, economics investigates how a society characterized by virtually unlimited wants allocates its limited resources. Economics combines theoretical models and analysis of economic data to explore a wide range of interesting and important policy and business issues such as when and how the government should regulate a monopoly, what the Federal Reserve Bank can do to prevent recessions, and how restrictions on international trade, such as tariffs on imported steel, impact individual firms and consumers as well as the economy as a whole.
AREA OF EMPHASIS AT DELAWARE
In addition to required core courses in microeconomic and macroeconomic theory, the department offers elective courses in every major field of economics. These electives include general courses such as International Economics, Labor Economics, and Industrial Organization designed to provide students a broad introduction to specific fields of economics as well as more specialized courses on topics such as women and the economy, the economic transition of former communist countries, and the economics of the Internet. The primary goal of the economics curriculum is to provide students with the intellectual tools needed to effectively analyze economic and business issues and to participate in economic policy debate. These tools include theoretical models designed to understand and predict economic behavior, and statistical techniques used to interpret economic data and measure economic performance. The application of theoretical and statistical tools to explore real world economic and business issues is emphasized throughout the curriculum, particularly in the elective courses.
