University at Buffalo, Department of Economics

Economics is the study of the allocation of scare resources to meet competing ends. It is based on a set of fundamental principles leading to decision rules regarding the efficient use of resources, the production of goods and services, the accumulation of physical and human capital, the growth of output and welfare over time, and many related issues of vital concern to individuals and to society as a whole.  The central quest of economics is to determine the most effective use of resources to meet private and social goals.  Production and employment; the behavior of firms and households; investments in material and human capital, such as education and health; family formation and fertility; family savings and financial decisions; the role of money, banking, and other financial intermediaries; industrial organization and regulation, the behavior of business cycles; government fiscal and monetary policies;  urbanization and environmental issues, the enforcement of property rights and the rule of law, international trade and finance, technological growth and innovation, income growth and individual and social mobility, are but a sampling of the concerns at the heart of the science of economics. The UB Department of Economics is committed to the educational goals of the University at Buffalo. These include providing students the basic knowledge required to understand how economic problems are approached, and imparting the basic qualitative and quantitative tools used by economists to solve economic problems. The Department is dedicated to contribute to these goals by devoting efforts to better serve the needs of our undergraduate and graduate students, by engaging in cutting edge research, and by continuously improving the design of our academic programs, our curriculums and our course offerings.