WHY ECONOMICS?

Arguably, the best way to understand the world we live in is through the economics that drives it. The world is continually facing public policy issues that are fundamentally economic in nature. Economic analysis offers a coherent and logical framework for examining these issues, allowing us to understand the trade-offs in solving social and business problems.

The economics curriculum at NYU Shanghai is designed to introduce students to the fundamental dynamics of human life and is grounded in three basic pedagogical principles:

• Exposure to Big Ideas: Undergraduate students must engage with our world's significant ideas and pressing social issues, using economic frameworks to think about them.

• Multifaceted Perspectives: Meaningful economics study requires analyzing problems from local, regional, and global perspectives. This includes understanding decision-making processes by incorporating insights from neuroscience and psychology.

• Quantitative and Communicative Proficiency: Effective economic analysis increasingly involves conducting quantitative data analyses using econometric methods and effectively communicating the results.

Building on these principles, the Economics major aims to develop rigorous analytical abilities in neoclassical and behavioral economics, critical writing and communication skills, and the capacity to interpret and use statistical data. This approach fosters sound economic reasoning and problem-solving skills, valuable in various academic and professional paths, including economics, business, law, public service, and graduate studies.