Broadly defined, economics is the study of how society allocates scarce resources. The goal is to understand the decisions of businesses and consumers as well as the implications and causes of contemporary economic issues by developing a systematic and thorough understanding of precisely how economic systems operate. Courses in the discipline of economics study the structure of markets and economies, the relationship between regions within the global economy, and strive to convey how economists reason and how they analyze models and compare model implications to observations.
A student of economics will have a good understanding of how markets function. This knowledge is useful for a variety of entry-level jobs in government, industry, or finance. A rapidly growing area of employment for majors, especially those who have strong analytical skills in mathematics and statistics, is management consulting. Another is banking, both commercial banking and investment banking. Governments at all levels, including international organizations such as the United Nations, are also significant employers of economics majors for positions involving analyses of revenues and expenditures, cost benefit studies of programs in education, health, and transportation.