"Economics is a method rather than a doctrine, an apparatus of the mind, a technique of thinking which helps its possessor to draw correct conclusions." - John Maynard Keynes
The goal of the economics program at New College is to prepare students to confront successfully the challenges of a rapidly changing world. The emphasis is on providing students with a conceptual framework with which to understand and assess the events and decisions that affect society at large as well as their own personal lives. Upon graduation, should one continue on to graduate school or enter the job market? Should the U.S. have signed a free trade agreement with Mexico? Should the Federal Reserve raise or lower interest rates in order to stabilize the economy? By mastering the tools of economic analysis, the student will be able to evaluate questions such as these in a critical and systematic manner.
The basic building blocks of the economics program are the two introductory courses. Introduction to Economic Analysis, normally taken first, introduces the student to the basic principles of economics by focusing on the question of whether a free market system does an effective and equitable job in utilizing a country's resources, or whether government intervention is needed to correct the market's failure. Particular emphasis is placed on evaluating specific economic policies, such as the minimum wage and pollution control. Introductory Macroeconomics extends the analysis to encompass such national economic issues as unemployment, inflation, the banking and financial system, and international exchange rates and finance.
These courses are recommended for all students, regardless of their future interest in studying economics. The analytical tools learned-the economic “techniques of thinking”-will be a valuable resource for students who plan to enter such diverse fields as law, environmental studies, international relations, business and finance, decision sciences, history, political science, and public policy.
For program requirements, click here for the General Catalog.
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