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Economics, Business, and Finance

Economics

Economics can be broadly defined as the study of how people and institutions allocate scarce resources. It involves learning how people respond to incentives, how the scarcity of resources affects people’s choices, and how government and industry affect consumption of resources. Economics helps us to understand historical trends, interpret today’s headlines, and predict future trends.

Lake Forest College’s economics major is a strong traditional program with a reputation for rigor, breadth and depth, allowing students to develop the analytical skills that virtually all employers desire. Students select electives from a wide variety of topics including labor economics, environmental and natural resource economics, law and economics, and the economics of sports to supplement the core program in macroeconomics, microeconomics, and statistics. Opportunities for further research with faculty who are experts in their fields are available to students. Most students also partake in internships in Chicago-area businesses. Students who complete the major are well prepared to work in the private or public sector and attend graduate school for their MBA or PhD.

Department News

  • Patricia "Trish" Thomas (center) accepts the award as top entrepreneurship professor in the state from...

    Director of the Entrepreneurship and Innovation Program Patricia “Trish” Thomas was named Illinois Entrepreneurship Professor of the Year by Future Founders at the 2nd Annual EntrepreneurshipU Awards on April 20 at the Chicago Connectory in the Merchandise Mart.

  • Chicago Finance Day
    Students visited Morningstar, Goldman Sachs, and Citigroup in Chicago during the College’s first-ever Finance Industry Day. Led by College alumni and trustees, students got a behind-the-scenes look at each company—as well as some face time with industry experts.