Economics is a scientific study of how people and institutions go about producing and consuming goods and services, and how they face the challenge of making choices in a world of scarce resources. The study of economics provides an opportunity for the student to acquire general knowledge of the methods by which goods and services are allocated and incomes are generated and why prices, employment, money and financial markets behave as they do. Some knowledge of economics is crucial not only for those intending to participate in the business world, but also for those intending to pursue graduate studies.
Graduates from the Economics major may find employment opportunities in the public sector and public enterprises, the private sector, and regional and international organizations.
The area of Finance deals with the principles which are crucial to financial decision making. Should an investment in real capital be made, and if so, how should the purchase be financed? Applying certain finance principles answers these questions. Even in a risky world, finance offers guidance on how accumulated wealth and savings from the past should be managed. Finance principles are crucial, not only to the financial decision making of business enterprises, but also to government and private non-profit organizations, and individuals and families as well.
Because financial decision making is so common, students trained in the application of the principles and techniques of finance have career opportunities in many different kinds of companies: manufacturing, insurance, mutual funds, trust, investment companies, and banks and other types of financial institutions that borrow and lend to the public. These organizations could be local, national or international and be organized as sole proprietorships, partnerships, corporations, or multinational firms. As a result of so many different financial decisions to be made, students trained in finance can participate in various activities such as capital budgeting, security analysis, commercial lending, international finance, and many other financial management positions prevalent in the field.