Economics is the study of how individuals and societies manage their scarce resources¿people must decide how much they work, what they buy, how much they save, and how they use their leisure time. Most societies use decentralized markets as the primary means of allocating resources, so economics gives students insight into how markets function in coordinating the activities of many diverse buyers and sellers. Economics also analyzes the trends and forces that affect the economy as a whole, including growth in average income, the portion of the labor force that cannot find work, and the rate at which prices are rising or falling. A major in economics provides excellent preparation for graduate and professional school, including law school, and for rewarding careers in consulting, finance, and other private and public sector employment. The Department of Economics offers course work in a variety of topics including microeconomic theory, macroeconomic theory, financial economics, money and banking, public finance, labor economics, international economics, economic development, game theory, and econometrics.