Department mission

The purpose of studying economics is to enhance one’s ability to reason about choices and the consequences of those choices. In a world in which resources are scarce, choices must be made at all levels—from the level of individual consumers and firms, to society as a whole. These choices may have far-reaching and unintended consequences. In this context, the ability to objectively analyze cause and effect is essential. Few decisions can be analyzed solely on an objective basis, subjective and ethical criteria must be considered as well. The analytical approach of economics provides a sound basis for understanding problems and evaluating different ethical perspectives.

The department of economics strives to provide students with the tools to analyze a wide variety of situations and problems. Augustana economics students gain an understanding of past and current events, and have the perspective to apply economic reasoning to future problems. In the process, students become familiar with the methods and institutions humankind has developed to deal with scarcity, from the level of individual consumers and firms to the level of the global economy. By providing students with a solid background in the field, the department of economics strives to help students become thoughtful citizens who are well prepared for either advanced study or employment in the field.