Economics is the study of how society allocates scarce resources such as land, labor and capital, in an attempt to satisfy unlimited wants. It is broadly divided into two branches: macroeconomics and microeconomics. Macroeconomics is concerned with the workings of the economy as a whole. It is the study of broad measures of economic performance: Gross Domestic Product, unemployment, and inflation. Microeconomics focuses on the role of individual decision-makers—consumers and firms—and analyzes the efficiencies and failures of a market system. The two branches approach the fundamental questions of resource allocation from opposite sides: one from the perspective of the economy as a whole and one from the perspective of the individual agents in the economy.<br>The Associate in Arts in Economics for Transfer degree prepares students for transfer to California State Universities (CSUs). Students who complete the Associate in Arts in Economics for Transfer degree will be ensured preferential transfer status to CSUs for economics majors and majors in related disciplines. The Associate in Arts in Economics for Transfer degree requirements will fulfill the lower division major requirements at many CSUs. Students are advised, however, to meet with a counselor to assess the course requirements for specific CSUs.