What causes inflation or inequality? How do governments affect the economy? How do families choose to allocate financial resources? Economics is the study of the theories, principles, and methodologies that affect the way the economy operates at both the micro and macro levels. At UMass Amherst, our renowned economics faculty represent a wide range of specialities and approaches to this complex and intriguing field. Students at the undergraduate and graduate level have access to internationally known scholars as they conduct their studies and research.