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Economics, Business, and Finance
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.
An article by Associate Professor of Economics, Business and Finance Amanda J. Felkey, “The Inclusion Habit,” was published in Profiles of Diversity Journal.
Nombuso Dlamini ’20, an Economics major and Entrepreneurship and Innovation minor, is studying at the ISEP program at American University of Sharjah in the United Arab Emirates.