Business Economics (BSBA)
The essential difference between economics and business economics is not in the economics training the students receive but, rather, in the other degree requirements. A student's interests and career goals should dictate the choice of one major over the other and, thus, one major cannot be considered superior to the other in any way. In comparing the two majors, the economics major is somewhat less structured and offers students a greater degree of choice in designing their overall curriculum. Business economics is more structured and provides excellent preparation for students who prefer training in the various functional areas of business such as finance, accounting, marketing, personnel, and information systems, as well as solid grounding in economic fundamental.
The three major objectives of the Economics and Business Economics program are:
To train and help our students develop the ability to access and explain existing knowledge. This means that our economic majors should be able to locate economic data and understand the methods used to compile them. They should be able to describe the current state of an economy, explain how key economic concepts and theories are used, and to summarize policy debates. Our graduates should also possess the ability to locate published research on their topic of interest. They should be able to identify from both academic journals and non-technical publications the important economic concepts and relevant key economic theories underlying the discussion.
To have our students develop the ability to apply existing knowledge to explore economic issues of interest. This means that our economic majors should be able to conduct an in-depth study of economic issues or events using relevant background material, economic theories, and quantitative methods.
To have our students graduate with the ability to draw conclusions based on sound economic reasoning. This means that our graduates should be able to use economic theory and quantitative methods to answer questions, solve problems, and draw conclusions about economic issues of interest.
WHAT CAN I DO WITH A MAJOR IN ECONOMICS OR BUSINESS ECONOMICS?
A major in economics leads to a great diversity of professional opportunities for those who wish to pursue graduate education as well as those who want to enter the work force immediately after graduation. The curriculum in many law schools makes heavy use of economic analysis, making economics an excellent choice for students considering a degree in law. Economics is, in fact, one of the most common undergraduate majors for those entering law school.
Economics provides the theoretical background for many business courses and is an ideal preparation for those who seek a M.B.A.
Most public policy issues have a strong economic dimension; therefore, economics is a natural undergraduate major for those interested in a graduate degree in public policy, public administration, or public health.
An economics major prepares students for graduate studies in economics and finance.
An undergraduate major in economics provides training and background which is useful for jobs in banking, insurance, consulting, investment and brokerage houses, the computer industry, sales and marketing, and journalism. Economics majors can work as financial analysts, risk management analysts, forecasters, or analyst staff members in litigation, or mergers and acquisition departments.
Many opportunities exist for economics majors in various government agencies at the federal, state, or local level as analysts and researchers.