Economics is the study of how individuals, businesses and governments choose to allocate resources to best satisfy their objectives. The study of economics serves a number of purposes: it helps students understand the functioning of markets, of firms and of financial organizations; it helps students understand public debate about economic policy, including taxation and government expenditure, trade and globalization, the development and growth of the economy, health and welfare; it prepares students for graduate study in business and law as well as graduate work in economics or public policy, leading to careers in teaching and research in economics; and it serves as a direct stepping stone towards employment in business, non-profits, finance, and government organizations.