Economics addresses issues that are central to our daily lives: our material standard of living, poverty, inequality, unemployment, and inflation, among others. The methodology of economics contributes insights to public policy that can help guide efforts to increase social wellbeing and distribute that wellbeing in a fair way. Microeconomics studies the behavior of individual entities such as households or firms. Macroeconomics looks at the big picture, the economy as a whole, and its growth and fluctuations. Econometrics develops and applies statistical methods to facilitate empirical analysis of economic issues. An economics major will first take courses in these three core areas, and then apply the methods learned to more specialized topics in elective courses. More information can be found on the Economics website.