Economics is the study of the production, conservation, and distribution of goods and services. Students analyze the use of resources to make products or provide services. They learn to use math to explain problems of supply and demand. They also study the economy as a whole and examine trends.

You try on the red shirt, then the blue one. Except for the color, it's the exact same shirt. You look better in blue, but the red one is on sale for almost $12 less! That's a good deal. If you buy the red one, you can use the money you save to go to a movie. Or you can keep the money in your bank account. But red is just not your color. You ask yourself, why is the red shirt on sale anyway?

That question isn't as simple as you think. Questions about prices and even fashion trends are the kinds of questions economists study every day. Maybe all the fashion magazines said that blue was spring's hottest color, so people bought blue shirts instead of red. The store selling the red and blue shirts had to buy them first, so now the store needs to make money to pay employees and rent. And pretty soon they have to buy fall's cool new shirt! So store managers mark down the red shirts, hoping customers will notice the low price and decide to buy them.

With a degree in economics, you can work for banks, businesses, investment firms, healthcare organizations, and insurance companies. You can use your research skills and knowledge about finances to work for a nonprofit group as a policy analyst. You can even work for the U.S. Treasury Department or the Securities and Exchange Commission.

In an economics program, you take courses in macroeconomics, the study of the economy as a whole. You take courses in microeconomics, the study of specific parts of the economy (think "supply and demand"). You also take courses in accounting and statistics. Plus, you study econometrics, which is a mathematical way of analyzing economic trends and problems. You learn about unemployment, inflation, and the U.S. banking system. You study how different groups in America acquire and spend money. Depending on your interests, you can take courses about economies in developing countries, healthcare economics, and international trade and finance. You may study the economies of different nations and regions. You can also learn about the different ways to fund and deliver healthcare. In some programs, you learn about international banking systems and global trade.

Most four-year schools offer bachelor's degrees in economics. Most community colleges offer two-year programs that can be transferred to a four-year school. Many schools offer graduate degree programs in economics. These programs take from two to five years after you finish your bachelor's degree. Most people with graduate degrees in economics become professors or researchers.

Many people in economics programs specialize. This is especially true for students in graduate programs. Some areas of concentration include labor economics, international economics, and development economics. Others include the study of industrial organization, economic theories, and econometrics. Concentrations with an international focus often require you to learn a second language.