Economics is the study of how individuals, both consumers and managers of firms, make choices in the face of scarcities. Their decisions result in market determined prices and quantities for the goods and services provided by an economy.  It is these market outcomes that are the primary focus of economic analysis.  The study of markets and the determination of prices and quantities may seem to be a narrow field, but the applications are numerous.  Economists use this market oriented approach to study such diverse topics as inflation, business cycles, international trade, tax policy, energy costs, agriculture, urban problems, the banking system, the structure of industry, crime and the legal system, labor unions, antitrust policy, regulation, public finance, economic development, and pollution.  Economic analysis has also been used to increase our understanding of the dynamics of individual interactions and organizational structures such as teams in industrial settings.

Economics provides an excellent background for general managerial positions. It is particularly valuable for jobs in financial institutions, governments, and companies engaged in international trade. Much of modern legal problems are closely intertwined with economic issues; the combination of law and economics has become an important field in its own right and the study of economics provides a valuable background for the study of law.

Undergraduate economics students have found positions in the private sector in areas such as:

In the public sector, undergraduates economics student have found positions in the Federal Government in such agencies as the Treasury, Department of Labor, Department of Commerce, and the US General Services Administration. Jobs are also available in state and local governments, city planning administrations, and international organizations.