The fundamental problems of economics are how economic agents make choices among scarce resources and how those choices affect society. Thus, choice (not money) is the unifying feature of what economics studies. It is a broad discipline that aims to understand past, interpret current, and predict future decisions.Economics can be classified into two broad categories: microeconomics and macroeconomics. Microeconomics is the study of how individuals, households, firms, and governments make choices, and how these choices affect prices, allocation of resources, and wellbeing of people. Macroeconomics is the study of the economy as a whole and focus on phenomena such as the growth rate of a country’s economic output, the inflation rate, or the unemployment rate. In recent decades, many other specialized subfields are emerged such as labor economics, political economics, industrial organization, environmental economics, health economics, and behavioral economics to name a few. They all seek to answer various sets of questions:

Since its foundation, Sogang Economics has played an important role in shaping Korea and its prosperity. Its outstanding alumni have taken important and prestigious roles in the society as public servants, government advisors, university professors, business consultants, and private sector professionals. Its carefully designed programs help students excel in necessary theoretical and empirical skills allowing them to achieve their career goals.Sogang Economics’ proud and competent faculty teaches both undergraduate and graduate programs. While they stimulate their students’ analytical thinking to teach them how to meet theory with practice, they also serve the global intellectual community with their research published in prestigious journals.