The department of management and economics, as the name suggests, combines two disciplines. Economics concentrates on the principles governing the market mechanism and how it guides decision making in the production and distribution of goods and services. Management involves the planning, organizing, leading, and controlling of resources to achieve an organization's goals in an effective and efficient manner. It is an appropriate area of study for students interested in nonprofit organizations, as well as business firms. Management emphasizes the application of economic principles, along with those from other fields, such as sociology, political science, psychology, and mathematics, to business, government, and other organizations. Although the orientation of the two disciplines differs somewhat, they share a substantial core of common subject matter and analytical methodology.
