A university degree that offers students the ability to study a wide range of subjects, but ultimately learn nothing. The arts degree provides a broad college experience, but extremely bad job prospects.
Arts students will often try to disguise their choice of course by naming the individual subjects they're doing, e.g. 'Theology and Sociology', 'Anthropology, Quantitave Economics and Medieval German'.(Nice try, it's still arts!)
Having only 8-12 hours of college a week (including tutorials, practicals, study and any other work their course 'demands') leaves arts students with a lot of free time. This free time is usually taken up with protests, smoking weed, sleeping, attending concerts or styling their hair/applying fake tan.

A construct of the middle classes that allows young adults to spend the best part of three years happily wasted, learning a lot of nice- yet ultimately useless information, without detriment to future employment prospects.