The field of economics encompasses several subfields. Microeconomic theory builds mathematical models to analyze economic phenomena. Econometrics builds statistical tools to analyze economic data. Applied Microeconomics applies theory and econometrics to economic questions. Macroeconomic studies the aggregate economy. Finance studies capital markets and related subjects. The courses and faculty in each area are listed below. Within a few of these subfields, we also offer Race, Power, and Privilege (RPP) courses. These courses examine issues of structural inequality, racial formations and/or disparities and systems of power within a complex, pluralistic world.
Department of Economics
Areas of Study
The use of data and econometric methods to test microeconomic theory. Applied micro is an umbrella term that includes labor, urban, education, industrial organization, public, health, and environmental economics.
Studies the behavior of individual households and firms making decisions regarding the allocation of limited or scarce resources.
The study of the aggregate dynamics of the economy. Macroeconomic theories consider the phenomena of output and income, interest rates, exchange rates, unemployment, and inflation as well as how monetary and fiscal policy tools can achieve certain policy objectives.
Econometrics is a set of statistical tools that allows economists to test hypotheses using real world data.
A set of courses that both use and teach economic theory and other quantitative methods in the study of financial institutions and financial markets. They include many of the traditional pragmatic classes offered in an undergraduate business curriculum.