Economics
Economics
The study of humankind in the ordinary business of life.
As such, it is the study of how to use scarce resources to best satisfy unlimited wants. Whether it is a business choosing whether or not to invest in new technology, a government choosing between improving highways or building hospitals, or a student deciding whether to go to college or enter the workforce, economic principles are at work. Good decision-making requires an understanding of the costs and benefits of the alternatives, and of how to weigh these costs and benefits. The study of economics provides a unique blend of intuitive reasoning, scientific analysis and knowledge of our society to understand and evaluate decisions.
Economics sheds light on many problems and questions that face Canadians:
- Why should governments subsidize businesses?
- What are the causes and consequences of fluctuations in the foreign exchange value of the Canadian dollar?
- Are Canadians better off pursuing free trade, or protecting Canadian companies and workers from competition?
- How would Canada's economy be affected if we comply with the Kyoto Accord?
- What would happen if the government set a maximum price for auto insurance?
- When the government has a surplus, should it pay off its debt or lower tax rates?
- Who should pay for education: students or taxpayers?
- Why do professional athletes and entertainers have such high incomes?
- What makes Canada's economy grow, and what can be done to improve growth?
Find out more
Important sources of information
RDC Calendar
Academic Advisors
Department of Humanities and Social Sciences
Room 3100
t: 403.342.3304 | e: ba@rdc.ab.ca
Head of Economics
Paritosh Ghosh
paritosh.ghosh@rdc.ab.ca