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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

  • Ireland
    Michael McKeon ’19 is an Economics major who studied in Cork, Ireland.
  • Katherine Beall '18 (left) and Lauren Bell '18 at the Midwest Economics Association conference.
    Katherine Beall ’18 earned first place and Lauren Bell ’18 an honorable mention to land a one-two Forester punch at the 2018 Midwest Economics Association undergraduate paper competition.
  • Matthew Roszak '95
    Matthew Roszak ’95 participated in the first initial coin offerings beginning in 2013, before the term even existed. The crypto entrepreneur gave Richard Branson and Bill Clinton their first Bitcoins.
  • Dziadula working with children and parents in Nepal for her research on child labor and education.
    Eva Dziadula ’07 was recently profiled in The Key Reporter, Phi Beta Kappa’s publication for news and alumni relations, due to her exciting work in economic research with the Notre Dame Initiative for Global Development.