Associate in Arts - Economics

Economics is the study of how people make choices when faced with scarcity. It is therefore the study of the process of decision-making by individuals, businesses, governments, or any other group that must make such choices, and the study of the institutional context in which these decisions are made.

Students will learn the following: 1) the economic problem of scarcity and its consequences for marginal decision making by individuals, firms and society; 2) Basic economic modeling, mathematical and graphical analysis will evaluate resource allocation and changes within markets and the economy; and 3) Government policies for solutions to market failure will assess advantages and disadvantages of government policy on markets and the economy.