Though economics is variously defined, modern-day definitions generally suggest that it is the study of the principles that govern the efficient allocation of resources. One of the greatest of the 19th century economists who did much to uncover these principles suggested a broader definition. Alfred Marshall described economics as “a study of mankind in the ordinary business of life and a part of the study of man.” This dual nature of economics, technical and humanistic, is reflected in the fact that at Lehigh the economics major is available to students in the College of Arts and Sciences as well as in the College of Business and Economics.

Economics related fields