Generally speaking, economics is the science of choice. Microeconomics is the science of individual choice; macroeconomics is the science of aggregate (collective) choice. More specifically, economics is the study of how people establish social arrangements for producing and distributing goods and services to sustain and enhance human life. Its main objective is to determine a wise use of limited economic resources so that people receive the maximum benefit at the lowest cost.

The economics discipline embraces a body of techniques and conceptual tools that are useful for understanding and analyzing any social arrangement, in particular a variety of complex economic systems. Career avenues for graduates are numerous, since their understanding of the economy and their problem-solving and critical thinking skills are applicable to a wide range of activities in business and/or government.

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