In broad terms, economics is the study of mankind's efforts to obtain the goods and services required for survival, for reasonable comfort and, when possible, for affluence. It thus concerns itself with all the problems associated with society's struggle to survive and prosper in a world possessing limited productive resources coupled with seemingly unlimited human desires. Business administration shares with the discipline of economics some of the same conceptual concerns, but its focus is on the business firm and its well-being. Economics is a social science focusing on the economic well-being of society.
The faculty members of the Department of Economics have specialized backgrounds in many areas: economic analysis of societal concerns such as inflation and national output, and the problems of individual companies and consumers, public finance, regulations, economic history, economics of developing nations, econometrics and forecasting, money and banking, international economics, urban economics, labor, economics of poverty, government and business and market structure. A student may elect to pursue a Bachelor of Arts in the College of Arts and Science or of the Alfred Lerner College of Business and Economics, or a Bachelor of Science in the Lerner College of Business and Economics. Double majors in both colleges are also possible.
The completion of a major in economics will not create a professional economist, but it will provide the general background necessary for graduate study in the field and for a wide variety of jobs which necessitate analysis.
Approximately 25% of the University's economics majors continue their education with enrollment in law school or graduate programs in economics or business administration. It is also appropriate preparation for programs in urban affairs, public administration or international relations. Economics majors seeking employment immediately after college generally choose jobs in management, insurance, real estate, financial analysis, computing systems, consulting, banking, sales and public administration. Course work in quantitative areas enhances job opportunities for economic majors. Students should contact the departmental office, 406 Purnell Hall, visit the departmental website at www.udel.edu/Economics, or call (302) 831-2565 for more information.
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