BS BA with Business Economics Concentration
“A degree in economics is extremely useful even if you do not intend to become an economist. It is numerate and theoretical degree, and signals to employers that you can handle figures and you have an analytical mind.”
Better Thinking and Managing Skills: The study of economics provides a set of tools that help better equip individuals and managers of firms to make high-level decisions in our global world of business and in the world in general. Economics develops the capacity to think analytically and critically. Business economics will help the student develop an understanding that is required to maximize the performance of firms and managers in a world increasingly dominated by trade and exchange. It allows an understanding of how changes outside the firm will impact the business environment of the firm. It analyzes both rational and irrational behavior. These acquired skills are invaluable for success in today’s business world.
Better Job Prospects: Historical data shows that graduates of business economics programs may expect to earn higher levels of income in comparison to students who graduate from other fields and majors. In a 2003 study (published in Economic Inquiry), Black, Sanders and Taylor analyzed the earnings of college graduates based on choice of major, using data from the National Survey of College Graduates and the U.S. Census. They found that economics majors earned almost 20 percent more than graduates with degrees in all other social sciences and earned just as much as graduates in accounting, finance and marketing. They also found that economics majors who went to law school earned more than law school students with other majors—35 percent more. They found similar results for those who received their MBA.
More recently, the Wall Street Journal published data from a large-scale study conducted by “PayScale” on starting and mid-career salaries of undergraduate majors and determined that business economics majors were far ahead of the pack. Graduating economics majors do very well entering the job market, with median salaries above those of finance, information and technology management, and accounting majors. Their salary levels also progress more rapidly than those in other majors, especially those at the top of their cohort.
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What is Economics? Economics is about choice and the impact of our choices on each other.
Business economics relates to every aspect of our lives, from the decisions we make as individuals or families to the structures created by governments and firms. The economic way of thinking can help us make better choices especially in business situations. And economics is the basis of many related business fields like finance, accounting, marketing and organizational behavior. Knowledge and incentives drive the world. Learning how is the subject of economics.
Email me any time of you would like to learn more or chat about the exciting world of economics.
Requirements for the Business Economics Concentration
Business Economics Concentration Core courses (15 semester credit hours)
- ECON 3310 Intermediate Microeconomic Theory
- ECON 3311 Intermediate Macroeconomic Theory
- MECO 4342 Financial and Business Negotiation Analysis
- MECO 4351 Industrial Organization and Corporate Strategy
- MECO 4352 Applied Econometrics and Time Series Analysis
Business Economics Concentration Electives (9 semester credit hours)
Nine semester credit hours selected from any upper division business course