Economics is all about making decisions. It addresses the problem of using scarce resources to satisfy society’s unlimited wants. Students who choose to become an economics major at the UO, learn to evaluate how people make the thousands of decisions they make on a daily basis, as well as how those choices combine to affect larger issues such as how environmental conditions affect the economy and how societies should manage natural resources.
The discipline of economics is divided into two general areas: microeconomics and macroeconomics. Microeconomics explores questions about the way society allocates resources; it applies to public policy in such areas as urban, industrial organization, and labor markets. Macroeconomics considers such questions as the causes of inflation and unemployment; it applies to such areas as monetary development and international trade. One of the most popular, relevant, and fastest growing majors at the UO, the economics department in the College of Arts and Sciences has a reputation for excellences in both teaching and scholarship. Majoring in economics will give students a unique perspective on a broad range of topics.