College of Fine Arts, Humanities & Social Sciences

Economics Department

Economics as a discipline is concerned with the principles underlying the production and exchange of products and services. The study of economics stems from the scarcity of resources and the limitless nature of our demands for products and services. Societies must therefore choose the goods and services that will be produced from among the larger range of production possibilities. Economics develops the principles and concepts that follow from this fact of scarcity and applies them to the analysis of various aspects of human activity.