University of Tulsa

Do you ever wonder what motivates people to buy what they buy when they buy it? Economics deconstructs consumer behavior, explaining why your favorite brand of shoes costs so much and how the principle of supply and demand affects prices. Economists study how society distributes resources, such as land, labor, raw materials and machinery, to produce goods and services. They may conduct research, collect and analyze data, monitor economic trends or develop forecasts. Economists research a wide variety of issues including energy costs, inflation, interest rates, exchange rates, business cycles, taxes and employment levels, among others. Majoring in economics hones students’ technical competence and analytical abilities. Typically, economics majors pursue MBA degrees, landing jobs as business consultants in the nonprofit, private or public sectors or becoming college professors or government economists.