Economics : Overview

Department of Economics

Contact Information

College of Arts and Sciences
415 Fronczak Hall
North Campus
Buffalo, NY 14260-1520

Phone: 716.645.2121, ext. 419
Fax: 716.645.2127
Web Address:
Isaac Ehrlich
Zhiqiang Liu
Director of Undergraduate Studies


Our department offers a comprehensive curriculum, integrating economic theory with applied topics, including the public sector, econometrics (i.e., statistics), education, growth & development, international trade, finance, monetary economics, labor economics, urban & regional economics, industrial organization, and regulation. Among the matters discussed are consumers and producers, market equilibrium, investment and savings, employment, money & banking, and government taxation and spending.

Economics is the study of scarcity and its implications for the use of resources, production of goods and services, growth of production and welfare over time, and a great variety of other issues of vital concern to society. The central quest of economics is to determine the most effective use of resources to meet private and social goals. Economics can also be used in one's personal life. Personal resources are scarce too. Achieving the most satisfactory allocation of one's resources is a crucial life-skill.

The department's faculty is distinguished for its research and teaching accomplishments. All members of the faculty hold the Ph.D. degree and are engaged in ongoing research projects that are reflected directly or indirectly in their teaching. The department is home to the Center of Excellence on Human Capital, Technology Transfer, and Economic Growth and Development (HEAD). The Center was chosen as one of the pillars of the Civic Engagement and Public Policy area of strength in the UB 2020 Strategic Plan. The Center is funded by a major faculty development award from the New York Office of Science, Technology and Academic Research (NYSTAR). The Center has had notable achievements, including an inaugurating conference attended by Nobel laureates. The Center houses the editorial office of the new Journal of Human Capital, which is published by the University of Chicago Press and is fast becoming nationally and internationally recognized as a leading economics journal.

Updated: 13 Nov 2012 06:00:52 EST