Topics of Study

  • How a country can use scarce resources to maximize consumer satisfaction.
  • How a firm's prices and products are determined in a free market system.
  • The Theory of Consumer Behavior and the Law of Demand.
  • How business costs are used in a firm's production decisions.
  • How firms can maximize profits in competitive and imperfectly competitive markets.
  • Major factors that cause changes in aggregate income, employment and prices.
  • The role of the Federal Reserve system in determining the money supply and interest rates.
  • The role of fiscal policy in economic activity.
  • The interdependence that exists between the United States and global trading partners.
  • The impact of international trade and capital flows on exchange rates, the balance of payments, and national standards of living.
  • Study of the principle-agent problem and how contracts may be used to align the interest of both parties.
  • The economics of government decision-making and analysis of the institutions that emanate from that process.
  • The economics of sustainable development practices.
  • The scientific approach to asking an economic question, gathering the relevant data, testing a hypothesis, and explaining the results to less-technically trained parties.