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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

  • YesCollege Podcast
    Professor of Economics and Business Robert Lemke joined the YesCollege Podcast for a discussion on economics degree programs and career paths.
  • A.B. Dick Professor of Economics and Business Robert Baade
    Ernest A. Johnston Professor of Economics Robert Baade’s take on a proposed stadium in Nashville was covered by the USA Today Network, the Houston Chronicle, and WRCB Chattanooga.
  • Maureen Langkamp of Allstate advised the standing-room-only crowd to "practice, practice, practice" interviewing.
    More than 50 students attended the Allstate Lunch and Learn in Vail Commons on Wednesday, October 11, to discover careers from company representatives, including Alex Kajcic ’17 who secured a job there in strategic planning and forecasting before he graduated.
  • Florence, Italy
    Desiree Velazquez ’18 is a Business major with a minor in English Literature studying in Florence, Italy.