Economics is the study of scarcity and allocation of resources, production of goods and services, social welfare, and a great variety of social problems. The central quest of economics is to determine the most effective use of resources to meet private and social goals. Employment, income inequality, environment issues, public policies, investment and savings, health, fertility, money and the banking system, taxation, spending, international trade, industrial organization, and urbanization are at the heart of the science of economics.
The employment opportunities for economists are myriad. Have a look at the information on employment, wages and such that is provided by the American Economic Association.
UB’s Department of Economics offers a comprehensive curriculum that emphasizes both essential economic theory and statistical analyses of economic data, allowing the symbiosis of the two that is called "applied economics." Applied economists have careers, for example, in education and health economics, econometrics and statistical analysis, international trade and finance, urban and regional economics, information and internet economics, industrial organization, market regulation, and environmental economics. Economists analyze and advise on the interactions of consumers and producers, how markets create and allocate gains from trade, investment, savings, production, and employment. They examine aggregate monetary and interest rate policies, regulation of banks and the like, economic growth, government taxation and spending policies, labor markets, income generation and distribution, and much more.