Economics
Program Transfer Guide
St. Mary's College of Maryland
.jpg)
Effective
Fall, 2024 - Current
Instruction Methods
In person
About the Program
St. Mary's College of Maryland encourages students to complete their Associate of Arts or Associate of Science prior to transferring to St. Mary's College of Maryland. Students who do not complete their Associate of Arts or Associate of Science degree must complete the LEAD General Education package as listed below.
Economics is the science of choice. It’s the study of how people, businesses, and societies make choices under scarcity. At the societal level, the field of economics is focused on assuring the production and distribution of goods and services such that the economic well-being of society is both as high as possible and increasing over time. Human beings are faced with scarce resources but have unlimited wants. What institutions, what rules of behavior, can be devised to ensure that human wellbeing is maximized? Economics attempts to answer these questions, and in so doing, helps you understand human behavior, make choices under scarcity, and participate in a democracy as a responsible citizen.
Some of the benefits of studying economics include:
- It fosters critical thinking, creativity, innovation, and entrepreneurship skills that are valuable in any career path.
- It gives you the tools to evaluate different economic systems and policies, and how they affect human welfare, social justice, and environmental sustainability.
- It enables you to understand your own behavior and preferences, as well as those of others.
It equips you with essential data handling and analysis skills to inform your decisions and help you thrive in complex environments.- It prepares you for the interdependence and diversity of the market, enabling you to navigate both opportunities and risks associated with today’s global economy.
More generally, economics is a social science that provides a framework for problem solving. John Maynard Keynes, an important 20th century British economist, once said that economics “…is a method rather than a doctrine…a technique of thinking which helps its possessor to draw correct conclusions.” This means that economics has broad application: in the business world, in government, and in nonprofit organizations as well as in family, personal and professional life. Economics is a true liberal arts discipline, requiring the use of political science, history, mathematics, philosophy and sociology to underpin effective, reliable economic decisions and analysis. Consequently, economics is excellent preparation for careers in private business or government, or as preparation for further study in economics, law, medicine, or business.
Members of the economics faculty will advise each student on the composition of an appropriate program, given the individual’s interests and objectives. Any student considering a major in economics is urged to consult with a member of the economics faculty as early as possible. Members of the economics faculty are committed to mentoring students in the development of their own ideas in the initiation and realization of St. Mary’s Projects.
Note: Most courses at St. Mary's College of Maryland are worth 4 credits. Students will only receive the amount of credits at St. Mary’s College of Maryland that they received at their Sending Institution. For example, if your previous college/university says Introduction to Psychology is worth 3 credits, you will only receive 3 credits for Introduction to Psychology at St. Mary’s College of Maryland. The transfer courses worth 3 credits will still be applied to meet specific course requirements within the SMCM majors.