Major Economics
Bachelor Degree in Economics
Even if one does not meet an economist every day, there is not a single day when the daily newspaper or television does not report on an economic topic. “How do we get out of the financial or economic crisis?” “Should we come to the financial rescue of the Greeks, who are over their head in debt?” or “Should a social welfare state have a universal minimum wage?”—these are just a tiny selection of the questions and problems with which economists concern themselves.
Economics concerns us all
Who is affected when the European Central Bank raises the prime rate, when members of the European Union run up excessive debts, when the postal system is privatized or when banks are nationalized? The answer sounds simple: us all! For one of the goals of economics is to use scarce resources –clean air, oil, but also time and money—as efficiently as possible, so that pie that gets divided up (the economic production of a state, a union of states or the world as a whole) will be as large as possible. Economics also asks how such a pie can be divided up most justly. In the end it is a matter of how people can be maximized.
Economist—Analyst or Advisor
An economist can take two positions on most questions: as an analyst and as a consultant. The analyst tries to understand the processes on the various markets and in the entire economy. He wants to comprehend the mechanisms that lead businesses to raise prices, people to stay home without work or the affects monopolies have on the offerings of the postal services. He wants to know what affect rising the European Central Banks’ prime rate has on unemployment in Germany. The economist as advisor want to transform the insights he gained (as an analyst) into concrete policy recommendations. The consultant may come to the conclusion that a market should be opened to competition, because it has up until now not been efficient, or he may recommend more spending for education because this makes Germany a more attractive location for businesses.
Economics at Leuphana—a good choice
Whoever is interested in these and other similar topics, is making the right choice by taking economics as a major. The Leuphana University in Lüneburg offers a modern and streamlined Bachelor’s degree, in which students are handed the skills and tools, to become analysts and consultants in all fields that address economic questions. The following pages offer an overview of the degree’s organization, the subject areas, as well as the career opportunities of an economist. Under “special features,” many of the most common questions about studying economics are answered.