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Economics is the study of scarcity and its implications for the use of resources, production of goods and services, growth of production and welfare over time, and a great variety of other complex issues of vital concern to society.
Economics is a social science with stakes in many other fields, including political science, geography, mathematics, sociology, psychology, engineering, law, medicine and business. The central quest of economics is to determine the most logical and effective use of resources to meet private and social goals. Production and employment, investment and savings, health, money and the banking system, government policies on taxation and spending, international trade, industrial organization and regulation, urbanization, environmental issues and legal matters (such as the design and enforcement of property rights), are just a sampling of the concerns at the heart of the science of economics.
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Economics falls within the Business Studies department at Midland College. The courses exist to prepare students for positions in local industries, in their careers in management, and administration positions in all types of organizations in the private, nonprofit, and public sectors.
Midland College offers no certificates or degrees in Economics. ECON 2301 (Macroeconomics) and ECON 2302 (Microeconomics) should transfer to other State-supported colleges and universities that offer degrees in Business Administration. They should also be accepted at institutions offering Baccalaureate degrees in Economics or with Economics emphasis. Be sure to verify transferability with the receiving institution.
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