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					                          What Is Economics?
Department of Economics




                             “. . .a study of mankind in
                           the ordinary business of life.”
                                             Alfred Marshall
                          What Is Economics?
Department of Economics




                               The study of how society
                                 uses limited resources
                                     to satisfy unlimited
                                       wants and needs.
                          What Is Economics?
Department of Economics




                          “. . .it is a method rather than a doctrine,
                             an apparatus of the mind, a technique
                                   which helps its possessor to draw
                                                correct conclusions.”
                                                John Maynard Keynes
                          What Do Economists Do?

                                  Management
Department of Economics




                           Healthcare
                                And more . . .
                          Law School
                                     Banking
                           Government
                                      Academics
                          What Skills Will I Acquire?
Department of Economics




                          Financial
                          Communication
                          Research/Analysis
                          Problem Solving
                          What Skills Will I Acquire?
Department of Economics




                          Financial   • Maintaining accurate records
                                      • Tabulating figures
                                      • Manipulating numerical data
                                      • Developing budgets
                                      • Performing cost/benefit
                                        analysis
                                      • Creating and evaluating
                                        financial reports
                          What Skills Will I Acquire?
Department of Economics




                          Communication
                                   •   Writing reports/articles
                                   •   Writing proposals
                                   •   Justifying a position
                                   •   Reading and interpreting reports
                                   •   Speaking persuasively
                                   •   Making presentations
                                   •   Explaining ideas/goals
                          What Skills Will I Acquire?
Department of Economics




                          Research/Analysis
                                   • Designing projects
                                   • Generating/developing ideas
                                   • Organizing materials
                                   • Computing and analyzing
                                     results
                                   • Testing an idea/hypothesis
                                   • Using computers
                                   • Applying statistical methods
                          What Skills Will I Acquire?
Department of Economics




                          Problem Solving
                                     •   Assessing needs
                                     •   Defining problems
                                     •   Reviewing/evaluating goals
                                     •   Relating theory to practice
                                     •   Forecasting results
                                     •   Applying quantitative analysis
                                     •   Generating solutions
                                     •   Evaluating policies
                          How Much Money Can I Make?
Department of Economics




                          Median Base Salary by Level of Education

                                           Degree              Median Salary
                                         Bachelors                  $67,500
                                          Masters                   $80,000
                                             ABD                   $108,000
                                            Ph.D.                   $91,000


                           National Assoc for Business Economics, Salary Characteristics 2000
                          How Much Money Can I Make?
Department of Economics




                          Entry Level Salary by Level of Education

                                           Degree              Starting Salary
                                         Bachelors                  $35,000
                                           Masters                  $45,000
                                             ABD                    $55,000
                                            Ph.D.                   $60,000


                            National Assoc for Business Economics, Salary Characteristics 2000
                          Topics in Microeconomics
Department of Economics




                           •Supply and Demand
                           •Consumer Choice
                           •Production
                           •Environmental Issues
                           •Labor Unions
                           •Pricing
                           •Stocks and Bonds
                          Topics in Microeconomics
Department of Economics




                          Why does popcorn cost so much at
                          the movies?

                              How can airlines charge different
                                    prices for the same flight?

                          Why does Michael Jordan make
                          so much money?
                          Topics in Macroeconomics
Department of Economics




                           •Supply and Demand
                           •Economic Growth
                           •The Federal Reserve
                           • Inflation
                           •Unemployment
                           •Taxes
                           •Money and Banking
                          Topics in Macroeconomics
Department of Economics




                          Who is OPEC, and what do they
                          have to do with gas prices?

                                  What would an economist do
                                        to fix social security?

                          What makes interest rates go up
                          and down?
                          Degree Programs Offered
Department of Economics




                          Bachelor of Science in Economics,
                          with emphasis in:
                               •Business Administration
                               •Or Social Science
                          Master of Science in Economics

                          Minor in Economics
                          Want to Know More?
Department of Economics




                                     Contact the
                               Department of Economics
                                      2nd Floor

                                  Or call (704)687-2687
                          to speak to an advisor about program
                               requirements and options.

				
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