Business Economics Career Tracks

 “What can I do with a major in business economics?” is one of the most popular questions we hear from students.  And the answer -- practically anything and everything. Yes, it’s true. Your career options as a business economics major are endless.

One of the reasons that business economics majors can pursue almost any career is because of the skills gained through the required coursework. As a business economics major you should:

  • Be able to analytically and critically solve complex problems and make decisions.
  • Be skilled at finding, organizing and interpreting data.
  • Be proficient at linking national and international economic issues to business.
  • Be adept at presenting ideas in written documents, oral presentations and interpersonal interactions.

To help you understand your options and define your career goals, we’ve provided a list of tracks that business economics majors typically pursue. For each track we have included information on relevant Penn State Behrend courses we believe will be beneficial for you to complete.

Keep in mind that this is a guide only. You are not required to take all courses listed and it is important to work with your academic advisor each semester to make sure you are completing all requirements for the major.

Each section below (where appropriate) provides a list of sample job titles to look for as you search for an internship or your first professional position.  

For those students interested in pursuing graduate studies in economics, please use the following link to learn more about the recommended courses: 

Economics of the Banking and Financial Sector

Sample Job Titles

  • Asset Manager
  • Bank Officer
  • Business Analyst
  • Commodities Broker
  • Consultant
  • Cost Estimator
  • Credit Analyst
  • Economic Analyst
  • Equity Trader
  • Hedge Fund Administrator
  • Financial Analyst
  • Financial Planner
  • Foreign Exchange Trader
  • Investment Banker
  • Management Consultant
  • Management Trainee
  • Operations Analyst
  • Sales Representative
  • Securities Analyst
  • Stock Broker
  • Trading Assistant
  • Trust Officer

Students who want a career in the financial sector often assume majoring in finance is the logical choice.  For some this is true, but for others a degree in business economics may be a better option.  In order to make a well-informed decision, it is important to understand the difference between these two fields of study. 

Economics is the study of how individuals and groups make decisions with limited (scarce) resources as to best satisfy their wants, needs, and desires. A study of economics includes all aspects of a country’s economy, such as how a country uses its resources, how much time laborers devote to work and leisure, the outcome of investing in industries or financial products, the effect of taxes on a population, and why businesses succeed or fail. Finance is a subset of economics. Finance focuses on the management of assets and money. The three general areas of financial study are business finance, public finance, and personal finance. Each of these areas considers the concepts of money, time, and risk.

Although both majors incorporate a set of practical tools that can be applied in the business world, business economics provides students with a broader, “bigger picture” set of skills with which to analyze and better understand the world around them.  Since both theory and practical application are a part of the business economics curriculum, students who earn a degree in this field are well prepared to use their analytical and critical thinking skills (which are highly valued and well rewarded in the financial sector) to solve problems. Business economics graduates have the reputation of being prepared to tackle a wider range of responsibilities due to their training and therefore tend to have a wider set of career options overall in both the financial and government sectors upon graduation.  For example, individuals with economic training can find employment and are highly sought after in well-known government agencies such as the Federal Reserve, the Securities and Exchange Committee, the Treasury Department and global entities such as the World Bank.

If you are considering a career in banking specifically, business economics is also a great choice because it provides you with a solid understanding of the primary issues and tools in the management and regulation of financial institutions.

Take Four (electives in the major)

  • ECON 351 Money and Banking
  • ECON 481 Business Forecasting Techniques
  • ECON 442 Managerial Economics
  • ECON 315 Labor Economics


Take Seven Supporting Electives

  • FIN 330 Personal Financial Planning
  • FIN 409 Real Estate Finance and Investment
  • FIN 420 Investment & Portfolio Analysis
  • FIN 427 Derivative Securities
  • FIN 430 Estate Planning
  • FIN 450 Retirement Planning
  • FIN 451 Intermediate Financial Management
  • FIN 461 Portfolio Management and Analysis
  • FIN 471 International Finance
  • ACCT 310 Federal Taxation I

Also consider a concurrent major in Finance or a certificate program

For those interested in earning the Financial Planning Certificate, the following Finance and Accounting courses listed above can be used towards earning this certificate: FIN 330, FIN 420, FIN 430, FIN 450, FIN 491, and ACCT 310. Please go to the following website for a complete description of the required courses: http://psbehrend.psu.edu/school-of-business/academic-programs/certificate-programs/financial-planning

For those interested in earning the Financial Risk Management Certificate the following Finance courses listed above can be used towards earning this certificate: FIN 420, FIN 427, and FIN 461. Please go to the following website for a complete description of the required courses: http://psbehrend.psu.edu/school-of-business/academic-programs/certificate-programs/financial-risk-management
 

Economics of Data

Sample Job Titles

  • Actuary
  • Budget Analyst
  • Business Analyst
  • Business Intelligence
  • Data Analyst
  • Data Manager
  • Data Scientist
  • Health Informatics
  • Information Manager
  • Investment Banker
  • Market Analyst
  • Market Researcher
  • Operations Research Analysts
  • Programmer
  • Security Analyst

Data analysis is the process of finding the right data to answer your question, understanding the processes underlying the data, discovering the relevant patterns in the data, and then communicating your results to have the largest impact. Data analytics is growing rapidly in both small and large organizations across the globe.  Whether public or private, profit or nonprofit, organizations are using analytics to improve decision making.  Business leaders realize that leveraging new technologies and better utilizing available data can lead to more effective strategies, better ways to service their customers and ultimately higher profits. Unfortunately in many cases, the technology has evolved faster than the workforce skills needed to effectively utilize data analytics. As a result, a strong demand for professionals with analytic skills has developed and continues to grow. A degree in business economics will provide you with the tools you need to work with data in a variety of fields. 

Take Four (electives in the major)

  • ECON 481 Business Forecasting Techniques
  • ECON 315 Labor Economics
  • ECON 442 Managerial Economics
  • ECON 460 Sports Economics


Take Seven Supporting Electives

  • MIS 336 Database Management Systems
  • MIS 404 Introduction to ERP and Business Processes
  • MIS 445 Business Intelligence
  • MKTG 342 Marketing Research
  • ACCTG 312 Accounting Technology Lab
  • FIN 427 Derivative Securities
  • STAT 301 Statistical Analysis I
  • STAT 401 Experimental Methods
  • STAT 414 Introduction to Probability Theory
  • STAT 462 Applied Regression Analysis
  • GEOG 363 Geographic Information Systems
  • CMPSC 203 Introduction to Spreadsheets and Databases

Also consider a concurrent major or minor in Statistics and/or an Actuarial Mathematics and Statistics Certificate

For those interested in earning the Actuarial Mathematics and Statistics Certificate the following courses listed above can be used towards earning this certificate: ECON 481, FIN 427, STAT 301, STAT 414, STAT 401, and STAT 462. Please go to the following website for a complete description of the required courses: http://psbehrend.psu.edu/school-of-science/academic-programs-1/certificate-programs/actuarial-mathematics-and-statistics-certificate

 

Economics for Management, Business and Accounting

Sample Job Titles

  • Accountant
  • Auditor
  • Consultant
  • Controller
  • Cost Accountant
  • Cost Estimator
  • Credit Analyst
  • Economic Analyst
  • Financial Analyst
  • Financial Planner
  • Internal Revenue Agent
  • Management Consultant
  • Pricing Manager
  • Staff Accountant
  • Trust Officer

Business economics majors often take accounting courses. Their choice in courses may range from one to several depending on their interests. Focusing on managerial economics and/or accounting would be suitable for any individual wishing to apply the principles of economics to the business environment. Accounting by itself provides the information necessary to determine and evaluate the present and projected economic activities of organizations. It includes financial services to individuals, business entities, non-profit organizations, and government at all levels. By adding the managerial economics component, emphasis is placed on logical reasoning and the development, understanding, and use of information, which enables students to solve problems relating to the management of organizations.

For those students who are more interested in the management side of decision making, taking the MGMT Business Support courses is recommended.

Take Four (electives in the major)

  • ECON 442 Managerial Economics
  • ECON 481 Business Forecasting Techniques
  • ECON 315 Labor Economics
  • ECON 351 Money and Banking
  • ECON 497 Law and Economics

Take Seven Supporting Electives

  • ACCTG 305 Financial Statements and Management Decisions
  • ACCTG 310 Federal Taxation I
  • ACCTG 312 Accounting Technology Lab
  • ACCTG 340 Cost Accounting
  • ACCTG 371 Intermediate Accounting I
  • ACCTG 403 Auditing
  • ACCTG 426 Financial Statement Analysis*
  • ACCTG 472 Intermediate Financial Accounting II
  • MGMT 331 Management and Organization
  • MGMT 410 Project Management
  • MGMT 420 Negotiation and Conflict Management
  • MGMT 431 Entrepreneurship and Small Business Management
  • STAT 401 Experimental Methods
  • STAT 462 Applied Regression Analysis
  • PUBPL 305 Leadership Studies

Also consider a concurrent major or minor in Accounting. Note: For students planning to become CPAs, Behrend’s one-year MBA program provides the 150 credit hours necessary to be eligible for a CPA license.

 

Economics of Marketing and Advertising

Sample Job Titles

  • Account Representative
  • Agency Account Executive
  • Brand Assistant
  • Chief Marketing Officer
  • Consumer Business Analyst
  • Consumer Product Manager
  • Junior Analyst
  • Market Researcher
  • Marketing Analyst
  • Marketing Assistant
  • Marketing Manager
  • Media Buyer
  • Media Coordinator
  • Media Planner
  • Media Research Analyst
  • Media Supervisor
  • Online Marketing Director
  • Online Promotions Manager
  • Research Assistant
  • Survey Researcher
  • Sales Representative

The field of marketing derives many of its intellectual origins from economics. (Some even argue that marketing thought as a distinct discipline was borne out of economics.) In addition, there are many facets to marketing, all of which relate to business economics in important ways. Marketing professionals work on product pricing and promotion, sales and distribution and manage the process to get the product to market. Business economics majors thoroughly study and analyze models which directly relate to how marketing professionals make their decisions.  Market researchers collect and analyze market information through the use of quantitative data, statistical analysis packages, surveys and focus groups. Business economics majors are well prepared in the area of data analysis which serves as a direct complement to the work market researchers do in the field.

Take Four (electives in the major)

  • ECON 481 Business Forecasting Techniques
  • ECON 442 Managerial Economics
  • ECON 315 Labor Economics
  • ECON 351 Money and Banking
  • ECON 460 Sports Economics

Take Seven Supporting Electives

  • MKTG 327 Retailing
  • MKTG 342 Marketing Research
  • MKTG 344 Buyer Behavior
  • MKTG 410 Personal Selling
  • MKTG 422 Advertising and Sales Promotion Management 
  • MKTG 445 Global Marketing
  • MKTG 485 Business-to-Business Marketing
  • MIS 387 Website Design and Administration
  • PSYCH 301W Basic Research Methods in Psychology
  • COMM 100 The Mass Media and Society
  • COMM 118 Introduction to Media Effects
  • COMM 270 Introduction to Multimedia Production
  • COMM 320 Introduction to Advertising
  • COMM 370 Public Relations
  • COMM 421W Advertising Creative Strategies
  • COMM 422 Advertising Media Planning
  • COMM 471 Public Relations Media and Methods
  • GD 100 Introduction to Graphic Design

Also consider a concurrent major or minor in Marketing and/or a certificate in Social Media

For those interested in earning the Social Media Certificate, the following courses listed above can be used towards earning this certificate: MKTG 422 OR COMM 320, GD 100, and MIS 387. Please go to the following website for a complete description of the required courses: http://psbehrend.psu.edu/school-of-business/academic-programs/certificate-programs/social-media


Supply Chain Economics

Sample Job Titles

  • Business Analyst
  • Category Manager
  • Commodity Manager
  • Import/export Agent
  • Inventory Leader
  • Logistics consultant
  • Materials Manager
  • Materials Planner
  • Procurement Specialist
  • Sourcing Specialist
  • Supply Chain Manager

It is crucial for companies to operate at maximum efficiency if they want to remain competitive and profitable. A foundation of economics and other business courses with additional electives in supply chain management provides you with the tools necessary to be successful in this field. The economics courses focus on strategies for minimizing total costs of goods and services, forecasting techniques to ensure there is enough supply on hand to satisfy demand, and analytical techniques for finding the resource that will give your company the best return on investment. The supply chain courses provide skills for assuring quality and delivery performance, the ability to predict and prevent inefficiencies, knowledge of innovative supply chain processes and customer service skills to enhance experience and form strong relationships.

Take Four (electives in the major)

  • ECON 481 Business Forecasting Techniques
  • ECON 442 Managerial Economics
  • ECON 315 Labor Economics
  • ECON 460 Sports Economics

Take Seven Supporting Electives

  • SCM 445 Operations Planning and Control
  • SCM 455 Logistics Systems Analysis and Design
  • SCM 460 Purchasing and Materials Management
  • SCM 465 Electronic Business Management
  • MIS 404 Introduction to ERP and Business Processes
  • MIS 405 Oracle Supply Chain Information Systems
  • MIS 406 Oracle Customer Information Systems
  • MIS 407 Oracle Enterprise Integration
  • PHIL 103 Introduction to Ethics
  • PSYCH 485 Leadership in Work Settings
  • CMPSC 100 Computer Fundamentals and Applications
  • CMPSC 203 Introduction to Spreadsheets and Databases

Also consider a certificate program

For those interested in earning the Oracle eBusiness Suite Certificate, the following courses listed above can be used towards earning this certificate: MIS 405, MIS 406, and MIS 407. Please go to the following website for a complete description of the required courses: http://psbehrend.psu.edu/school-of-business/academic-programs/certificat...

For those interested in earning the SAP Enterprise Resource Planning (ERP) Certificate the following courses listed above can be used towards earning this certificate: SCM 445, SCM 460, SCM 465, and MIS 404. Please go to the following website for a complete description of the required courses: http://psbehrend.psu.edu/school-of-business/academic-programs/certificate-programs/sap-erp

 

Economics of Human Resources

Sample Job Titles

  • HR Consultant Coach
  • HR Development
  • HR Director
  • HR Generalist
  • HR Officer
  • HR Manager
  • HR Specialist
  • Employee and Labor Relations
  • Risk Management
  • Mediator Appraiser
  • Regional Manager
  • Workforce Planning and Employment

If you enjoy working with and helping people and always have considered yourself a “people person,” majoring in business economics with a focus on human resources may be the right path for you. Economists study human behavior, the foundation for learning about such practices as staffing, compensation, training, and benefits on organizational effectiveness. In addition, since the traditional human resource management duties are now starting to be outsourced in larger companies, employers are now looking for people who can add value to the strategic utilization of employees in measurable ways.  A student with a degree in business economics is trained to use metrics and measurements to demonstrate value and thus is well-suited for this shift in responsibilities. 

Through the business core courses you will learn basic strategies designed to improve individual and organizational performance as well as legal and ethical concerns in the treatment of employees.  In your economics elective courses you cover more advanced topics dealing with the analyses of labor market data, recruitment and training, and labor laws. The management electives expand the basic strategies and cover more advanced topics related to compensation and benefits as well as negotiation and conflict management.

Business leaders increasingly seek experts in human resources as their partners in building their organizations. Majoring in business economics while focusing on the human resources track provides students with the knowledge and skills required to effectively staff and maintain the workforce of organizations.  

Take Four (electives in the major)

  • ECON 315 Labor Economics
  • ECON 442 Managerial Economics
  • ECON 481 Business Forecasting Techniques
  • ECON 460 Sports Economics
  • ECON 497 Law and Economics

Take Seven Supporting Electives

  • MGMT 341 Human Resource Management
  • MGMT 420 Negotiation and Conflict Management
  • MGMT 441 Advanced Human Resource Management
  • MGMT 461 International Management
  • MIS 336 Database Management Systems
  • MIS 387 Website Design and Administration
  • ACCTG 310 Federal Taxation I
  • ACCTG 340 Cost Accounting
  • ACCTG 426 Financial Statement Analysis
  • PHIL 103 Introduction to Ethics
  • PSYCH 281: Intro to Industrial Organization Psychology
  • PSYCH 485 Leadership in Work Settings
  • LER 100 Employment Relations
  • COMM 471 Public Relations Media and Methods
  • CMPSC 100 Computer Fundamentals and Applications
  • CMPSC 203 Introduction to Spreadsheets and Databases

Also consider a minor in Management

 

Economics and the Media

Sample Job Titles

  • Anchor
  • Business Journalist
  • Communication Specialist
  • Data Detective
  • Digital Producer
  • Economic Journalist
  • Editor
  • Media Consultant
  • Media Coordinator
  • News Assistant
  • News Reporter
  • Production Specialist
  • Social Media Reporter
  • Staff Writer
  • Web Developer
  • Web Editor

Economists are often criticized for “speaking their own language.”  However, economists have a considerable amount of useful information about how the economy works from both a business standpoint and a policy perspective. Therefore, it is particularly important that economists have a way to present the findings from their research to both the public at large and to policy makers.  Talented journalists and other types of news reporters capable of sifting through the jargon and explaining in a more user-friendly fashion “what the numbers mean” are in demand throughout the world. In addition, because virtually every news story has a business angle, a degree in business economics makes any job candidate more attractive.
If you enjoy communicating economic ideas in either oral or written form, majoring in business economics while focusing on the economic media track is a good choice for you.

Take Four (electives in the major)

  • ECON 315 Labor Economics
  • ECON 442 Managerial Economics
  • ECON 481 Business Forecasting Techniques
  • ECON 460 Sports Economics

Take Seven Supporting Electives

  • MKTG 342 Marketing Research
  • MKTG 422 Advertising and Sales Promotion Management
  • MKTG 445 Global Marketing
  • MKTG 485 Business-to-Business Marketing
  • MIS 387 Website Design and Administration
  • COMM 001Newspaper Practicum*
  • COMM 002 Newspaper Editorial Staff*
  • COMM 003 Radio Practicum*
  • COMM 004 Television Practicum*
  • COMM 100 The Mass Media and Society
  • COMM 110 Media and Democracy
  • COMM 118 Introduction to Media Effects
  • COMM 160 Basic News Writing Skills*
  • COMM 260W News Writing and Reporting
  • COMM 315 Applications for Media Writing
  • COMM 320 Introduction to Advertising
  • COMM 360 Radio Reporting
  • COMM 422 Advertising Media Planning
  • COMM 470A Convergent Media News Service
  • COMM 471 Public Relations Media and Methods

* Courses followed by an asterisk are less than three credits.  Note that a total of 12 credits is required in this category and therefore a student may need to take more than four courses total to meet this requirement.

Also consider a concurrent major or minor in Marketing or Communications and/or a certificate in Social Media

For those interested in earning the Social Media Certificate, the following courses listed above can be used towards earning this certificate: MKTG 422 OR COMM 320, and MIS 387. Please go to the following website for a complete description of the required courses: http://psbehrend.psu.edu/school-of-business/academic-programs/certificate-programs/social-media

 

Economics of Globalization
Sample Job Titles

  • Export Credit Insurance Specialist
  • Export Marketing Representative
  • Export Sales Representative
  • Market Research Analyst
  • International Sales
  • International Trade Specialist
  • International Business Development Manager
  • Shipping/Transport Clerk
  • Trade Finance Specialist


We live in an increasingly globalized (and hence interdependent) world in which economic events happening halfway around the globe are as likely to affect us as economic events happening in the next state.  Therefore, no future business leader can hope to succeed without a solid grasp of the fundamental forces that affect the operation of the international trade and monetary system, as well as how that international trade and monetary system affects their individual organization.
The international trade sector includes many different organizations engaged in a wide range of trade-related activities. These organizations are all potential employers. A career in international trade could involve working for producers and distributors, trade service providers, trade assistance providers or trade regulators.

Take Four (electives in the major)

  • ECON 315 Labor Economics
  • ECON 351 Money and Banking
  • ECON 442 Managerial Economics
  • ECON 481 Business Forecasting Techniques
  • ECON 497 Law and Economic

Take Seven Supporting Electives

  • MKTG 445 Global Marketing
  • MGMT 461 International Management
  • FIN 471 International Finance
  • HIST 175 The History of Modern East Asia
  • HIST 181 Introduction to the Middle East
  • HIST 473 The Contemporary Middle East
  • PL SC 003 Introduction to Comparative Politics
  • PL SC 020 Comparative Politics – Western Europe
  • PL SC 022 Politics of the Developing Areas
  • PL SC 428 Gender and Politics
  • PL SC 442 American Foreign Policy
  • Select 12 credits in a foreign language and culture. Options include French (FR), German (GER) or Spanish (SPAN).
  • PL SC 014 International Relations
  • PL SC 487 International Law and Organizations

Also consider a concurrent major in International Business

 

Entrepreneurial Economics

Sample Job Titles

  • Business Consultant
  • Business Development Specialist
  • Consultant
  • Entrepreneur
  • e-commerce Entrepreneur
  • General Manager
  • Licensor
  • Management Analyst
  • Research & Development Associate
  • Small Business Manager
  • Technology Entrepreneur
  • Urban and Regional Planner
  • Venture Capitalist

A business economics degree provides a broad set of skills and flexibility when choosing courses which fits well for those students interested in pursuing a career in small business, starting their own business, or taking over their established family business. Students will learn how to evaluate the viability of a business and prepare a start-up business plan emphasizing financing, marketing and organization.

Take Four (electives in the major)

  • ECON 442 Managerial Economics
  • ECON 481 Business Forecasting Techniques
  • ECON 351 Money and Banking
  • ECON 315 Labor Economics

Take Seven Supporting Electives

  • MGMT 341 Human Resource Management
  • MGMT 420 Negotiation and Conflict Management
  • MGMT 431 Entrepreneurship and Small Business Management
  • MGMT 440 Advanced Human Resource Management
  • MIS 387 Website Design and Administration
  • FIN 330 Personal Financial Planning
  • FIN 451 Intermediate Financial Management
  • FIN 461 Portfolio Management and Analysis
  • ACCTG 305 Financial Statements and Management Decisions
  • ACCTG 340 Cost Accounting
  • ACCTG 426 Financial Statement Analysis
  • MKTG 327 Retailing
  • MKTG 342 Marketing Research
  • MKTG 344 Buyer Behavior
  • MKTG 410 Personal Selling
  • MKTG 485 Business-to-Business Marketing
  • SCM 455 Logistics Systems Analysis and Design
  • PUBPL 305 Leadership Studies
  • PSYCH 281: Intro to Industrial Organization Psychology
  • PSYCH 301W Basic Research Methods in Psychology
  • PSYCH 485 Leadership in Work Settings
  • SUST 200 Foundations of Leadership in Sustainability
  • COMM 320 Introduction to Advertising

 

Government and Economic Policy
Sample Job Titles

  • Administrative Analyst
  • Budget Analyst
  • Community Affairs Advisor
  • Consultant, Public Sector
  • Government Relations Advisor
  • Program Analyst
  • Policy Coordinator
  • Program Manager
  • Public Affairs Specialist
  • Purchasing Agent
  • Research Associate
  • Trade Policy Analyst
     

Public policies are laws, regulations, decisions, and actions taken by governmental and non-governmental organizations to address social issues. A career in public policy can take you down many different paths depending upon what issue(s) you are passionate about.  You may find yourself working on global policy issues or domestic/local policy issues. Some examples of policy issues include: agriculture, antitrust regulations, economic development, education, employment, environment, health, human rights, immigration, poverty, public finance and taxation. In general, a variety of organizations need help interpreting policies and advocating for innovation and change. Therefore, students with strong analytic and writing skills are always in high demand.

Take Four (electives in the major)

  • ECON 315 Labor Economics
  • ECON 481 Business Forecasting Techniques
  • ECON 351 Money and Banking
  • ECON 442 Managerial Economics
  • ECON 497 Law and Economics

Take Seven Supporting Electives

  • ECON 460 Sports Economics
  • MGMT 341 Human Resource Management
  • MGMT 441 Advanced Human Resource Management
  • PUBPL 305 Leadership Studies
  • PL SC 001 Introduction to American National Government
  • PL SC 003 Introduction to Comparative Politics
  • PL SC 014 International Relations
  • PL SC 177 Politics and Government in Washington DC
  • PL SC 197A Organized Crime, Law, and Politics
  • PL SC 482 American State and Urban Politics
  • PL SC 489 Public Administration
  • WMNST 428 Gender and Politics
  • SOC 005 Social Problems
  • EDTHP 115A Competing Rights: Issues in American Education
  • SUST 200 Foundations of Leadership in Sustainability
  • PSYCH 281: Intro to Industrial Organization Psychology

Students interested in this track may want to consider applying for the Koch Internship Program or the Koch Associate Program.  For more information go to http://www.charleskochinstitute.org/ or contact Dr. Kerry Adzima at kak38@psu.edu.

Public policies are laws, regulations, decisions, and actions taken by governmental and non-governmental organizations to address social issues. A career in public policy can take you down many different paths depending upon what issue(s) you are passionate about.  You may find yourself working on global policy issues or domestic/local policy issues. Some examples of policy issues include: agriculture, antitrust regulations, economic development, education, employment, environment, health, human rights, immigration, poverty, public finance and taxation. In general, a variety of organizations need help interpreting policies and advocating for innovation and change. Therefore, students with strong analytic and writing skills are always in high demand.

 

Economics and the Law


Business economics emphasizes analytical and problem-solving skills, and trains a person to think through problems in a systematic, logical manner.  These are the very skills needed to succeed in a law career.  Virtually every top law school now has at least one economist on the faculty and several law schools even offer joint Law and Economics Ph.D. programs. Economics majors score at or near the top on the Law School Admission Test (LSAT) and according to a study published in the Journal of Economic Education, lawyers with degrees in economics earned $10,000 more per year than the average lawyer with another degree. 

Legal specialties such as antitrust law and tax law require knowledge of economic models of imperfect competition and methods of quantitative analysis both of which are addressed in a variety of economic courses.

Take Four (electives in the major)

  • ECON 315 Labor Economics
  • ECON 442 Managerial Economics
  • ECON 481 Business Forecasting Techniques
  • ECON 497 Law and Economics

Take Seven Supporting Electives

  • ECON 351 Money and Banking
  • ECON 460 Sports Economics
  • MGMT 420 Negotiation and Conflict Management
  • FIN 496A Financial Ethics
  • ACCTG 310 Federal Taxation I
  • ACCTG 410 Federal Taxation II
  • PHIL 103 Introduction to Ethics
  • PL SC 001 Introduction to American National Government
  • PL SC 003 Introduction to Comparative Politics
  • PL SC 014 International Relations
  • PL SC 017 Introduction to Political Theory
  • PL SC 177 Politics and Government in Washington DC
  • PL SC 197A Organized Crime, Law, and Politics
  • PL SC 471 American Constitutional Law
  • PL SC 482 American State and Urban Politics
  • PL SC 487International Law and Organizations
  • WMNST 428 Gender and Politics

 

Graduate School in Economics

Many graduates of an Economics PhD program pursue research careers at a college or university. Other graduates (including those with a Master’s degree in Economics or an MBA) work for government agencies or private firms after graduation.

*Take MATH 140 Calculus with Analytic Geometry I instead of Math 110

Take all advanced electives in the major (4 required, all recommended)

  • ECON 315 Labor Economics
  • ECON 351 Money and Banking
  • ECON 442 Managerial Economics
  • ECON 460 Sports Economics
  • ECON 481 Business Forecasting Techniques

Take Seven Supporting Electives

  • MKTG 342 Marketing Research
  • MIS 336 Database Management Systems
  • MIS 445 Business Intelligence
  • MATH 141 Calculus with Analytic Geometry II
  • MATH 211 Intermediate Calculus and Differential Equations with Applications
  •  MATH 220 Matrices
  • MATH 250 Ordinary Differential Equations

Other courses that would be useful

  • STAT 301 Statistical Analysis I
  • STAT 401 Experimental Methods
  • STAT 462 Applied Regression Analysis
  • STAT 480 Introduction to Statistical Program Package
  • CMPSC 200 Programming for Engineers with MATLAB
  • CMPSC 203 Introduction to Spreadsheets and Databases
  • CMPSC 455 Introduction to Numerical Analysis I

Also consider a concurrent major or minor in Mathematics