How can we combat the problems of the economy going into the next decade, whether it's scarcity of employment, of budget capital or of energy? The Business Economics major has the innate ability to look at a pool of data and know what is to be done. These individuals are adept in business, politics, math, accounting and statistics. They work with the federal government, local governments, private firms, banks, hospitals, the stock market and a host of other fields. For people who want a secure, well-paying job, management economics is a wise field to choose.
Some people take economics college courses because they want to work in business, but distinguish themselves as a cut above the rest. Compared to a mere business degree, a degree in economics involves more mathematics, more statistics and a well-rounded mixture of economic theory, organizational communication, management and technical writing courses. To employers, an economist has more gravitas and adds more value to their organizations. As a result, graduates from a school's department of Economics tend to earn more money out of school and win more prestigious positions than business majors. According to a 2002 National Association of Business Economics survey, economics majors earned 20% more than business administration majors, 19% more than accounting majors, 18% more than marketing majors and 15% more than finance majors.
To get approved by a grad school's department of Economics, you'll need to take a GRE test, get a few letters of recommendations from economists and write an essay discussing what areas of economics you're interested in, what papers you've read on the topics and what questions you'd like to explore further. You don't necessarily need a specific thesis proposal, but you want to sound professional, determined and passionate about basic economics. You should get a critique on your essay from someone in your undergrad economics department to ensure it sounds intelligent and hits on the right topics. GRE scores also matter a lot in your acceptance. These examinations should be taken no later than October, but the sooner the better. Your admissions application will not even be considered until your test results are in.
When a student is looking for a degree major in Business Economics, certain courses are required. Courses in macro economics, microeconomics, business accounting, finance courses, math courses, statistics, stock market fundamentals and technical indicators, labor economics, monetary economics, international trade theory, business law, organization and business strategy, psychology courses, political science courses just to mention a few.
Many Business Economics majors go on to get their MBA. Richard Silverman, executive director of admissions at Yale, said: "The best people are more frequently taking economics as their major than they were a decade ago." He goes on to say "It shows they have the intellectual fire in the belly to perform well in an MBA program." Similarly, UC-Berkeley admissions officer Edward Tom added, "Of all the majors, economics ranks in the top four or five consistently year after year for both applicants and offers made." Compared to business administration, accounting, marketing and finance majors, the economics majors earn 15-20% more.
Individuals with a degree in Business Economics have been recruited by employers like the California State Controller's Office, Cerner Healthcare Information Technology, Coca-Cola, Consolidated Graphics, Deloitte Services LP, Edward Jones, Enterprise Rent-A-Car, Ernst & Young LLP, General Mills, Inc., Insight, JPMorgan Chase & Co., Liberty Mutual Insurance Group (MA), Medix Staffing Solutions, PetSmart, Raytheon, Sherwin-Williams, Travelers Insurance and Wells Fargo Financial. The economics field is expected to grow 7% by 2016, adding another 16,000 workers. People with bachelor's degrees can get almost any entry-level job in business. Master's degree holders generally compete for sales and management trainee positions. Those who hold PhD degrees often go on to teach or become top market analysts in their fields.
As you know, most students seeking PhDs love school and wish to continue working in academia at an economics college or university. According to the Job Openings for Economists (JOE) job board, as of June 2009, there are full-time positions open at John Hopkins University, Kansas State University, Lebanon Valley College, the University of Santa Barbara, the University of Austin Texas and West Virginia University.
NYU, Lake Forest College, Saint Benedict's, the University of Cincinnati and the University of Vermont also offer adjunct/part-time positions. Internationally, there are positions in Australia, South Korea, Germany and the UK. You'll need to contact the department of Economics of these offers through the JOE website.
Some people take economics college courses because they want to work in business, but distinguish themselves as a cut above the rest. Compared to a mere business degree, a degree in economics involves more mathematics, more statistics and a well-rounded mixture of economic theory, organizational communication, management and technical writing courses. To employers, an economist has more gravitas and adds more value to their organizations. As a result, graduates from a school's department of Economics tend to earn more money out of school and win more prestigious positions than business majors. According to a 2002 National Association of Business Economics survey, economics majors earned 20% more than business administration majors, 19% more than accounting majors, 18% more than marketing majors and 15% more than finance majors.
To get approved by a grad school's department of Economics, you'll need to take a GRE test, get a few letters of recommendations from economists and write an essay discussing what areas of economics you're interested in, what papers you've read on the topics and what questions you'd like to explore further. You don't necessarily need a specific thesis proposal, but you want to sound professional, determined and passionate about basic economics. You should get a critique on your essay from someone in your undergrad economics department to ensure it sounds intelligent and hits on the right topics. GRE scores also matter a lot in your acceptance. These examinations should be taken no later than October, but the sooner the better. Your admissions application will not even be considered until your test results are in.
When a student is looking for a degree major in Business Economics, certain courses are required. Courses in macro economics, microeconomics, business accounting, finance courses, math courses, statistics, stock market fundamentals and technical indicators, labor economics, monetary economics, international trade theory, business law, organization and business strategy, psychology courses, political science courses just to mention a few.
Many Business Economics majors go on to get their MBA. Richard Silverman, executive director of admissions at Yale, said: "The best people are more frequently taking economics as their major than they were a decade ago." He goes on to say "It shows they have the intellectual fire in the belly to perform well in an MBA program." Similarly, UC-Berkeley admissions officer Edward Tom added, "Of all the majors, economics ranks in the top four or five consistently year after year for both applicants and offers made." Compared to business administration, accounting, marketing and finance majors, the economics majors earn 15-20% more.
Individuals with a degree in Business Economics have been recruited by employers like the California State Controller's Office, Cerner Healthcare Information Technology, Coca-Cola, Consolidated Graphics, Deloitte Services LP, Edward Jones, Enterprise Rent-A-Car, Ernst & Young LLP, General Mills, Inc., Insight, JPMorgan Chase & Co., Liberty Mutual Insurance Group (MA), Medix Staffing Solutions, PetSmart, Raytheon, Sherwin-Williams, Travelers Insurance and Wells Fargo Financial. The economics field is expected to grow 7% by 2016, adding another 16,000 workers. People with bachelor's degrees can get almost any entry-level job in business. Master's degree holders generally compete for sales and management trainee positions. Those who hold PhD degrees often go on to teach or become top market analysts in their fields.
As you know, most students seeking PhDs love school and wish to continue working in academia at an economics college or university. According to the Job Openings for Economists (JOE) job board, as of June 2009, there are full-time positions open at John Hopkins University, Kansas State University, Lebanon Valley College, the University of Santa Barbara, the University of Austin Texas and West Virginia University.
NYU, Lake Forest College, Saint Benedict's, the University of Cincinnati and the University of Vermont also offer adjunct/part-time positions. Internationally, there are positions in Australia, South Korea, Germany and the UK. You'll need to contact the department of Economics of these offers through the JOE website.
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