Economics is the science of decision making. The rigorous and general approach that characterizes economics lends itself to a remarkably wide field of practical application. Trained economists are employed by private businesses, banks, law firms, consulting firms, international corporations and agencies, public utilites, federal and local governments, and colleges and universities. These economists study issues such as the effects of government regulations on industries, the fairness and impacts of taxes, the effects of various policy tools in fighting inflation and unemployment, the causes of poverty, and the plight of the homeless, pollution, crime, and other social policy issues.
A degree in economics provides excellent preparation for advanced graduate study as well. Recent studies indicate that economics is a preferred degree for prestigious MBA programs and law schools.