Associate in Applied Science
Associate in Arts
Economics is a social science that deals with the efficient use of scarce resources. Students will study Macroeconomics where they will be introduced to the modern market economy and how it addresses the issue of scarcity. Macroeconomic topics including supply and demand, GDP, economic growth, unemployment, inflation, the economic role of the government, fiscal policy, and monetary policy will be addressed. Students will also be introduced to Microeconomics, which analyzes the individual decision-making units in the economy (particularly households, resource-suppliers, and businesses) with an emphasis on how firms attempt to maximize profit under different competitive conditions. Students will learn about elasticity, consumer behavior, income distribution and poverty, the demand for economic resources, public choice theory, and international trade and finance. Personal money management will also be studied. Students will learn about planning and managing personal finances, making purchasing decisions, insuring resources, investing, retirement planning, and estate planning. Students will choose between two separate pathways for Economics: One for the student planning to pursue a Bachelor of Science in Business Administration with an Economics major, and another for the student planning to pursue a Bachelor of Arts Degree with an Economics major (which is a more policy-oriented, social science-focused degree).
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