There are a number of fields of study within the economics discipline. You can sample many of them during your time at Rhodes through your coursework, optional research opportunities, and even internships. Some of the fields within economics include:
International Economics - International economists study trade among nations and the flow of finance across international borders. Globalization and the deficit in the U.S. balance of payments with other countries are current concerns.
Labor Economics – Labor economists study employers’ decisions to hire workers and employees’ decisions to work. They study how wages are set, the nature of incentives workers face, and the role of minimum wage laws, unions, pensions plans, education and training programs. They are also interested in the formation of families, determinants of birth rates, migration, population change, and aging.
Economic History - Economic historians explore changes in economic well-being and how economic institutions have developed. The emergence of markets, the forces shaping the industrial revolution, the sources of improvements in agricultural productivity, the influence of railroads and other new technologies provide perspective on current economic issues.
Econometrics - Econometricians develop methods to measure economic phenomena. They apply the scientific method by formulating hypotheses, gathering evidence, and judging whether the evidence is consistent with the hypotheses.
Experimental Economics - Experimental economics is an application of experimental methods to study economic questions. By simulating economic environments, experimental economists are able to assess the validity of economic theories and even test new market mechanisms.
Public Economics - Labor economists study employers’ decisions to hire workers and employees’ decisions to work. They study how wages are set, the nature of incentives workers face, and the role of minimum wage laws, unions, pensions plans, and training programs. They are also interested in the formation of families, determinants of birth rates, migration, population change, and aging.
Industrial Organization - IO is the study of individual markets, the nature of competition, and the role of prices. Some economists study issues in anti-trust policy, while others study the role of advertising, pricing policies, and how costs vary with the scale of operations.
Macroeconomics - Study of the aggregate relationships in an economy is called macroeconomics. Economic growth, the role of money and interest rates, and changes in the overall level of prices and the aggregate level of unemployment are central concerns of macroeconomics.
