In order to become an expert in business economics, you need to have a basic understanding of macroeconomic theory as well as macroeconomic trends and patterns. You should explore a broad and real-world topic in the realm of macroeconomics and demonstrate that you can construct a complete study on a microeconomics topic, recognize data needs, analyze existing theory in a way that makes sense, apply empirical evidence to form an argument supported by facts, analyze theoretical models and construct rational and soundly based arguments. It is also important for you to be able to understand and explain the concepts of economic activity, the economic system, the role of government, the macroeconomic environment, and other macroeconomic factors.
The process of economic behavior is very complicated and there are many different approaches to analyzing and predicting economic behavior. Good business economics major needs to have a fundamental understanding of how the economy operates, and how it affects the world around us. You should have strong basic mathematical and logical skills, which will be a tremendous asset in a career in economics. You also need to have an ability to analyze information and to learn from your own experience, both in school and in the workplace.
Business economics majors are required to complete at least 40 hours of general education in addition to their study in business economics. The business economics major must also take a placement test and pass it with a passing grade. These requirements are designed to help prepare students for a career in economics in many different fields. Business graduates are then prepared to enter their chosen fields.
Business Economics majors who wish to specialize in their degree program must complete at least 120 credit hours. Students in a major specializing in Business Economics may opt to receive either a Bachelor of Science in Business Economics or a Bachelor of Arts in Business Economics. If a student is pursuing a Bachelor of Science in Business Economics, he or she will be required to complete all of the necessary courses in the general business major as well as the micro-microeconomics coursework, including calculus. and advanced linear algebra. The student will then have to choose courses in which to specialize, and complete a minimum of sixty-two credits of general education in Business Economics and have taken at least twelve hours of math.
Once the student has completed his or her Bachelor's Degree, he or she can pursue a Master's degree in Business Economics. Once the student is a full-time graduate student, he or she may choose to advance his or her studies by obtaining an MBA, Doctorate degree in Business Economics or an Applied Economic Policy Degree.
Business economists in the United States are employed in several diverse fields including in government, academia, . . . . . . the private sector, and in non-profit organizations. Other business economics specialists work in the private sector at nonprofit institutions such as universities, think tanks, foundations, and even nonprofit organizations such as the U.S. Peace Corps. Other business economists also work in international businesses such as the International Monetary Fund or the World Bank.