Economics has been taught at Georgia Tech for more than one hundred years when, starting in 1908, courses in economic theory and political economy were first offered under the aegis of the Department of English. The Department of Economics was later formed in 1934 and the first Bachelor of Science in Economics degree was awarded in 1971. Today, the School of Economics is one of six schools within Georgia Tech's Ivan Allen College of Liberal Arts.
The quality and longevity of life for literally every individual on our planet is defined by economic conditions. Thus, economics is arguably the most encompassing and vital of all human sciences. As the science of choice behavior, studying economics provides the theory and applications that are fundamental to understanding the decisions people make as well as the consequences of those decisions. Economics permits us to explain the past and, crucially, to forecast the future.
Since our lives are dominated by economic considerations, the study of economics provides an intellectual foundation for an extraordinarily broad spectrum of careers. Good decision-making skills are required everywhere including banking/finance, law, economic development, international business, intellectual property, public policy, health, sports management/marketing, environmental regulation, transportation and logistics, and more. Studying economics helps develop effective decision-making skills which are so essential to the success of companies and other organizations.
The importance of economics is reflected in the starting salaries of economics graduates, which for many years have been among the highest of any bachelor's degree. Moreover, economics graduates often advance to significant positions of responsibility and authority in their professional careers, and many experience great success as self-employed entrepreneurs.