Economics is a social science that studies the efficient allocation of scarce resources to the activities carried out by consumers, businesses, governments, and nations. Modern economics is a quantitative science and its analysis requires a solid foundation in mathematics and statistical analysis. Students majoring in economics go on to careers in business, law, public policy, government institutions, and international relations. Training in economics provides substantive knowledge for advanced degrees such as masters in business administration and law, and Ph.D. degree in economics.

The Economics/Administrative Studies major is a highly structured interdisciplinary major within CHASS that some students may find to be an attractive alternative to Business Administration.