Economics

Abstract

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. Professors. Shin-Yi Chou, PhD (Duke University); James A. Dearden, PhD (The Pennsylvania State University); Mary E. Deily, PhD (Harvard University); Frank R. Gunter, PhD (Johns Hopkins University); Judith A. McDonald, PhD (Princeton University); Chad Meyerhoefer, PhD (Cornell University); Vincent G. Munley, PhD (State University of NY at Binghamton); Larry W. Taylor, PhD (University of North Carolina, Chapel Hill); Todd A. Watkins, PhD (Harvard University); Muzhe Yang, PhD (University of California, Berkeley) Associate Professors. Ernest Kong-Wah Lai, PhD (University of Pittsburgh); Alberto Lamadrid, PhD (Cornell University); Oleksandr Nikolsko Rzhevskyy, PhD (University of Houston-University Park); Ahmed S. Rahman, PhD (University of California, Davis); Seth Richards-Shubik, PhD (University of Pennsylvania) Assistant Professors. Felipe Augusto de Araujo, PhD (University of Pittsburgh); Jee-Hun Choi, PhD (Cornell University); Fabio GomezRodriguez, MA (Indiana University Bloomington) Professors Of Practice. Luis F. Brunstein, PhD (University of California, Riverside); Yuval Erez, PhD (Cornell University) Emeriti. J. Richard Aronson, PhD (Clark University); Nicholas W. Balabkins, PhD (Rutgers University); Thomas J. Hyclak, PhD (University of Notre Dame); Jon T. Innes, PhD (University of Oregon); Arthur E. King, PhD (Ohio State University); John R. McNamara, PhD (Rensselaer Polytechnic Institute); Anthony Patrick O'Brien, PhD (University of California, Berkeley); Robert J. Thornton, PhD (Universtiy of Illinois)