The Department of Economics is engaged in the dual function of providing professional training to students majoring in economics and at the same time render teaching services to students of other departments on the Mayagez Campus of the University of Puerto Rico. Professional training of students is offered through a program of study which emphasizes the development of quantitative methods and techniques necessary for economic analysis. Upon successful completion of this program, students are awarded a Bachelor of Arts degree with a concentration in Economics. Teaching services, on the other hand, are designed for students who take introductory economics courses only as requirements and/or electives within their major field of study.
The common purpose of both functions is to develop students with the ability to think clearly and objectively in dealing with economic decisions and problems. Students are trained specifically to replace value judgements and prejudices with sound economic reasoning based on an objective and rational analysis.
Apart from these two functions, the conduct of research and the promotion of economic education are two integral elements within the Department. A Research Unit is responsible for the coordination and diffusion of research results and activities pursued by departmental faculty members and occasionally by visiting scholars. Faculty members also participate in the program for the enhancement of economic education among the local citizenry through a variety of workshops, conferences and printed materials. The Department publishes twice yearly a journal, Ceteris Paribus, which generally consists of professional and technical papers relating to economics and the social sciences.