Economic Policy, Minor

Economics is a social science and as such an important component of the liberal arts curriculum. At the core of economics are theories of how individuals, firms, and other organizations make choices and interact, taking into account constraints on their behaviors. Among the topics studied in economics are: the determination of prices and quantities in various types of markets (from perfectly competitive commodity markets to highly regulated utility markets and internet auctions); the effects of taxes, subsidies, and regulations; the determination of aggregate economic activity (e.g., GDP, unemployment); inflation, monetary policy, and financial intermediation; economic growth and income distribution; international trade and international finance (e.g., exchange rates). Economic policy questions stand at the center of public policy debates in the U.S. and countries all around the world. The goal of the Economic Policy Minor is to provide students who are not majoring in economics with the analytical tools that are necessary to participate in and shape public policy debates. The foundation for the minor is provided by the microeconomics and macroeconomics principles courses. After having completed the principles courses, the student can choose a minimum of four elective courses, which apply the basic tools of economic analysis to specific policy questions. The completion of the Economic Policy Minor does not require university-level calculus courses.