Historically, economics has evolved over the years as they are influenced by various fields of natural sciences and engineering, and mathematics is a crucial factor in the development of mathematical economics. Econometrics is a branch of economics as an extension of statistics, and game theory is another branch which has been applied to many fields of life sciences, computer sciences, and electrical engineering. Also, a high level of economics program is provided by universities all over the world which has the competitive field of science and technology based on the correlation of various fields of natural sciences and engineering. For example, MIT is one of the top universities in the field of science and technology but also economics.

KAIST provides programs for those who want to double major or minor in business and management technology, minor in financial engineering, and minor in intellectual property to enlarge opportunities for undergraduate students, keeping pace with the social demand. Therefore, economics program has been provided from the spring semester 2013 for those who want to minor in economics giving them a great opportunity to learn efficiently by the convergence of different major fields of mathematics, natural sciences, and engineering with game theory, econometrics, etc. Also, it will help making career choices for those who completed full requirement of economics program.

Students majoring in any fields of natural sciences and engineering receive premium when they find a job. Also, when entering graduate schools, it serves as a stepping stones to success in fields of economics, management, finance, etc. KAIST program for major in economics will help students to become leaders of society who have an undergraduate major in science and engineering in addition to its expertise in other areas.