Economic Forecasting Minor (R)

Economics is the study of how people manage limited (scarce) resources. All kinds of resources are scarce: money, time, natural resources, energy, land, etc. There are not enough resources to produce everything we desire, so we must make choices about how to use what little resources we have. In the end, sacrifices must be made. Economists study individual decision-making behavior, as well as the system of social, political, cultural and commercial environments where these decisions happen. Economics employs many quantitative tools to analyze behaviors and the consequences of choices (market outcomes, industry trends, economy-wide performance). This program gives students a brief exposure to the empirical tools and methods used in economic analysis which can enhance their primary field of study.