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Economics is a field of study that has become increasingly relevant in our globalized, financialized society. The economy is part of our collective conscious and a buzzword that links personal finances to big business and international trade deals. Economics deals with individual choice, but also with money and borrowing, production and consumption, trade and markets, employment and occupations, asset pricing, taxes and much more. What then is the definition of economics? One way to think of it is the study of what constitutes rational human behavior in the endeavor to fulfill needs and wants given a world with scarce resources. In other words, economics tries to explain how and why we get the stuff we want or need to live. How much of it do we get? Who gets to have more? Who makes all this stuff? How is it made? These are the questions and decisions that economics concerns itself with For over a century, the Department of Economics at MIT has played a leading role in economics education, research, and public service. The Economics Department today is a vibrant collection of faculty and students. We offer a challenging and stimulating undergraduate experience. Many of our majors go on to have influential careers in the worlds of research, politics, and policy. Since the 1940s, our Ph.D students have staffed uncounted colleges and universities around the world, including the very best. Our graduate program is consistently cited as a model for American research institutions. From macroeconomics to microeconomics enjoy learning economics