Alfred Marshall, one of the intellectual giants of Economics, defined economics as “... a study of mankind in the ordinary business of life”. As such, microeconomics provides a framework for analyzing decisions made by individuals and firms, especially decisions concerning the allocation of scarce resources and the implications of those decisions for both the decision-maker and the wider society. Macroeconomics, which uses the foundations provided by microeconomics, focuses on the determinants of economic aggregates like the price level and national output and studies the effects of monetary and fiscal policy on these aggregates.
Opportunities in Economics
Areas: Economic Advising and Consulting, Industry & Market Analysis, Forecasting, Research, All General Business Fields
Employers: Educational Institutions, Energy Companies, Financial Institutions, Government Agencies, Insurance Companies, Trade/Labor Organizations