Will today’s budget deficit impoverish tomorrow’s taxpayers? Do illegal immigrants take jobs away from native workers? Does free trade decrease our standard of living? What can be done to improve the US economy after the great recession of 2007-2009? Why is Africa still so poor but India is becoming so much richer?
Economics is the social science that helps answer all of these questions. Economics is the social science that explores the concept of choice—how people choose to allocate scarce resources: time, money and effort. By understanding the science of choice, economics holds powerful implications for the fields of policy, medicine and law. With its origin as a social philosophy, economics is closely related to the fields of sociology, political science, and anthropology. However, modern economics is distinguished by its use of analytical models and sophisticated statistical techniques to create a modern field with applications in business, government and society.
Students deciding to major in economics at Southern Miss can choose between the social science track and the mathematics track. Students in both tracks take a variety of courses from money and banking to international trade; from development economics to microeconomic theory; from econometrics to economic history. These topics are seen in their practical application in the capstone seminar where the students answer their own inquiry using the science of choice.