About Us
Economics is a dynamic social science - “social” because it explores the norms and incentives shaping the economic behavior of individuals and groups, and a “science” because it uses analytical models to study choices around the production and distribution of wealth.
If you are drawn to questions like:
- What effects does the "three-strikes law" have on criminal behavior?
- How do star athletes impact NBA gate revenues?
- What policies help the poor secure better livelihoods?
- What role do technology and trade play in shaping inequality within and between nations?
- What drives the gender and racial wage gaps?
Then Economics is your field. Economic decisions occur at both global and personal levels, the tools of economic analysis have broad and practical applications. At its core, economics seeks to understand how existing resources are allocated and how new resources are created. At William & Mary, our research addresses real-world questions involving productivity, markets, employment, income distribution, and economic growth.
Dating back to 1784, William & Mary was among the first institutions in the United States to offer instruction in economics. Today, the Department of Economics continues that legacy as one of the leading liberal arts economics departments in the nation—recognized for its excellence in both teaching and research.
At any given time, you will find more than 28 economists based in Chancellors Hall (formerly Tyler Hall). We serve around 450 undergraduate Economics majors and another 100 students pursuing related majors such as International Relations, Public Policy (undergraduate and graduate), and Environmental Studies.
Our undergraduate curriculum is rigorous and wide-ranging, covering all major fields within economics, both theoretical and applied. The Economics major requires 30 credit hours beyond introductory principles and calculus. We offer multiple advanced econometrics courses, which have enabled many of our alumni to gain acceptance into top Ph.D. programs and secure research-oriented roles in academia, government, and industry. A senior capstone essay is in development to further enrich the academic experience.
In addition to a robust Economics major and minor, the department participates in the St Andrews Joint Degree Program and plays a significant role in the Master’s in Public Policy Program. Our students benefit from close faculty mentoring, student mentoring and research collaboration opportunities in addition to a strong campus wide academic community.
Our faculty are productive scholars whose research spans economic theory, econometrics, macroeconomics, applied microeconomics, development economics, human resource economics, and economic history. Many of them are involved with interdisciplinary initiatives and policy-relevant research through partnerships with AidData, the Schroeder Center for Health Policy, and the graduate Program in Public Policy. Several faculty members also teach in William & Mary’s Business School, Law School, and School of Marine Science.
To support academic excellence, the Department of Economics offers several merit- and need-based scholarships to outstanding students. Our graduates go on to top graduate programs, work for consulting firms and multinational corporations, contribute to government policy, or find meaningful roles in the nonprofit sector.
For more information about our undergraduate programs, research initiatives, or scholarship opportunities, please visit our website or stop by our office in Chancellors Hall, Room 317.